Public Company Limited (“MACO”) focuses on the Outdoor media segment, a beneficiary of the continuing structural shift in the media industry and the ongoing trend of people spending more time outdoors

includes Transit, Outdoor and In-store media with a market share of 12.9%, resiliently increased by 2.6% YoY to THB 3,394mn. OOH media continues to benefit from the structural shift in the media industry

spending more time outdoors and its strength as being a medium to create brand awareness that reaches consumers when they are on the go. For Online media, Digital Advertising Association Thailand (“DAAT

businesses as follows ; 90% Redberry Outdoors Sdn. Bhd. (“RBO”) 83.9% Focus Media Network Sdn. Bhd. (“FMN”) 90% Ten Plus Resources Sdn. Bhd. (“10Plus”) 49% Redberry Media Sdn. Bhd. (“RBM”) 100% Point Cast (M

าคัญอื่นๆ (ก) PBSB ด าเนินการขายกิจการบางส่วนให้กบั RBSB ซึ่งประกอบไปด้วยหุ้นทัง้หมดซึ่งปัจจุบนัถือโดย PBSB ในกิจการตา่งๆดงัตอ่ไปนี ้ 90% Redberry Outdoors Sdn. Bhd. (“RBO”) 83.9% Focus Media Network Sdn

% YoY. Nevertheless, Outdoor media - our focus segment- recorded THB 1,525mn in advertising expenditure, an increase of 3.8% QoQ and 11.0% YoY, benefiting from a shift in people’s behavior to spend more

share, declined by 25.5% YoY to THB 3,418mn. Nevertheless, Out-of-home media, which includes Transit, Outdoor and In-store media (collectively, “OOH”) bucked the trend, increased by 12.7% YoY to THB

1 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 1Q 2018 MD&A 1Q 2018 (ended 31 March 2018) 14 MAY 2018 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS The popularity of outdoor media has continuously

/18 2018/19 OOH media 3,559 3,847 8.1% 90.4% 74.6% Digital Services1 378 1,311 246.8% 9.6% 25.4% OOH media segment Transit media Office Building and Other media Outdoor media segment Digital Services

) OOH media segment Transit media Office and Other media VGI PUBLIC COMPANY LIMITED Outdoor media segment Digital Services segment cost of sales gross profit gross profit margin selling, general and