2Q/20 Analyst Meeting

Presentation

WORLD PUBLIC COMPANY LIMITED

Aug 19, 2020

THAILAND’S LEADING CONTENT &

ENTERTAINMENT PLATFORM

2

DISCLAIMERThis document has been prepared by BEC World Public Company Limited (“BEC”) solely for the reference of intended recipients only.

This presentation includes forward-looking statements that are subject to risks and uncertainties, including those pertaining to the anticipated benefits to be realized from the

proposals described herein. This presentation contains a number of forward-looking statements including, in particular, statements about future events, future financial

performance, plans, strategies, expectations, prospects, competitive environment, regulation and supply and demand.

BEC has based these forward-looking statements on its views with respect to future events and financial performance. Actual financial performance of the entities described herein

could differ materially from that projected in the forward-looking statements due to the inherent uncertainty of estimates, forecasts and projections, and financial performance may

be better or worse than anticipated. Given these uncertainties, readers should not put undue reliance on any forward-looking statements.

Forward-looking statements represent estimates and assumptions only as of the date that they were made. The information contained in this presentation is subject to change

without notice and BEC does not undertake any duty to update the forward-looking statements, and the estimates and assumptions associated with them, except to the extent

required by applicable laws and regulations.

3

AGENDA

MARKET WRAP-UP

FINANCIAL PERFORMANCE

WHAT’sNEXT

4

AGENDA

MARKET WRAP-UP

FINANCIAL PERFORMANCE

WHAT’sNEXT

COVID-19• Lockdown, Social Distancing

• Layoffs/Closure of some business from the economic disruption

• Move of advertising budget to CSR,

• Lower advertising Spending

• NEW NORMAL

5

2Q/20 MARKET WRAP-UP

2Q/20 GDP

-12.2%

Source: NESDC

THAILAND MEDIA SPENDING BY QUARTER

16,219 17,947 17,690 18,454

16,536 12,656

4,510 4,510 5,268

5,268 5,547

5,547

3,227 3,283 3,380

3,627

3,093

2,449

1,668

2,031 2,432

2,707

1,422

252

1,423

1,486 1,413

1,367

952

801

1,057

1,118 1,255

1,310

947

819

28,346

30,646 31,719

32,979

28,697

22,632

1Q/19 2Q/19 3Q/19 4Q/19 1Q/20 2Q/20

    TV

    Internet (DAAT)

    Outdoor&Transit

    Cinema

    Print

    Radio

    In-Store

Total

Note: Nielsen Numbers are base on Rate Card multiple by the number of minutes advertised, which may not reflect the actual market when discount or promotion was given to advertisers.

Source: Nielsen Advertising Information Service, DAAT ( Digital Advertising Association (Thailand))

TV(-29% YoY)(-23% QoQ)

Internet(+23% YoY)(0% QoQ)

Total (-26% YoY)(-21% QoQ)

TV + Cable/ Satellite (excluding Home Shopping)

Home Shopping

14,572 16,203 15,794 16,521 14,915 11,572

1,647 1,744 1,896 1,933

1,621

1,084

1Q/19 2Q/19 3Q/19 4Q/19 1Q/20 2Q/20

TV Net Home Shopping Home Shopping

TV AdEx SPENDING BASELINE

TV- Net(-29% YoY)(-22% QoQ)

Home Shopping(-38% YoY)(-33% QoQ)

Source: Nielsen Ad Intel

Note: Home shopping only cover spots less than 5 minutes

-

0.50

1.00

1.50

2.00

2.50

3.00

Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20

Rating Mon - Sun (6:00 - 24:00)All 15+ Nationwide

CH7

CH3

MONO

WP

CH8

ONE

6

CONTENT RATING PLATFORM

Total TV Viewers Increased during Lockdown, unfortunately weak advertising Spending

-

0.50

1.00

1.50

2.00

2.50

3.00

3.50

Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20

Rating Mon - Sun (6:00 - 24:00)All 15+ BU

CH7

CH3

MONO

WP

ONE

CH8

Source: Nielsen Advertising Information Service Source: Nielsen Advertising Information Service

2019 2020 2019 2020

No. 1 on AIS PLAYBOX

7

GLOBAL CONTENT LICENSING

Simulcast to China

• “My husband in law” (อกเกอืบหกัแอบรักคณุสาม)ี and

“Prophecy of Love” (พยากรณ์ซอ่นรัก)

Simulcast to China via Tencent’s Platform

“My Husband In Live”(อกเกอืบหกั แอบรกัคณุสาม)ี

3 June 2020

“Prophecy of Love LIVE”(พยากรณ์ซอ่นรกั + ดวงแบบนีไ้มม่จีู)๋

18 July 2020

ACTIVITIES – ONLINE FAN MEETING DURING LOCKDOWN

8

9

AGENDA

MARKET WRAP-UP

FINANCIAL PERFORMANCE

LOOKING INTO 2020

107.6 92.9 91.1

77.2%69.0%

44.6%

-70.0%

-50.0%

-30.0%

-10.0%

10.0%

30.0%

50.0%

70.0%

90.0%

-20.0

30.0

80.0

130.0

180.0

230.0

2Q19 1Q/20 2Q/20

Average Ad-Income Per Min* VS U-Rate

U-Rate(24 Hrs CH3)

Avg. AdIncome/Min

2Q/20 FINANCIAL PERFORMANCECONSOLIDATED INCOME STATEMENT

1,814.8

1,400.0

887.0

246.2

219.6

284.6

19.3

6.1

2.5

2,092.3

1,636.5

1,183.8

2Q/19 1Q/20 2Q/20

Total Revenue

AdvertisingIncome

Copyrights & Other Service

Sales of Goods

Concerts & Shows- 43.4% YoY

- 27.7% QoQ

+15.6 % YoY

+29.6% QoQ

- 51.1% YoY

- 36.6% QoQ

88.6

97.0 95.9

84.0

86.0

88.0

90.0

92.0

94.0

96.0

98.0

2Q19 1Q/20 2Q/20

Digital Revenue

+ 8.2 % YoY

- 1.1 % QoQ

Unit: Million Baht

*Base on revenue from BECi

32.3 39.1

150.8

-

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

2Q19 1Q/20 2Q/20

Global Content LicensingUnit: Million Baht

Unit: Million Baht

*Base on 1. Advertising Income divided by CH3 minutes utilized time per day

• COVID-19 Continue to impact performance • Concerts & Shows Revenue declined as concerts/shows are

postponed or canceled• ThaiTicketMajor (TTM)’s Revenue in Copyrights & Other service

declined as ticket sales business which has continued to be adversely impacted by postponing or canceling of concerts/shows

• Lower Utilization from Lockdown as advertising Spending was limited, however Average Ad-Income Per Min stabilize QoQ

- 15.4 % YoY

- 1.9 % QoQ

• Growth YoY with slight decline QoQ from Licensing Model

+ 367.6 % YoY

+ 285.9 % QoQ

• Growth YoY & QoQfrom 2 Simulcast drama to China

11

6M/20 FINANCIAL PERFORMANCECONSOLIDATED INCOME STATEMENT

3,533.3

2,287.0

451.6

504.2

102.5

8.6

28.8

20.6

4,116.1

2,820.4

6M/19 6M/20

Total Revenue

AdvertisingIncome

Copyrights & Other Service

Sales of Goods

Concerts & Shows

- 31.5% YoY

+11.6% YoY

- 35.3% YoY

Unit: Million Baht

• COVID-19 Continue to impact performance • Concerts & Shows Revenue declined as concerts/shows are postponed or canceled• ThaiTicketMajor (TTM)’s Revenue in Copyrights & Other service declined as ticket sales

business which has continued to be adversely impacted by postponing or canceling of concerts/shows

156.6 193.0

-

50.0

100.0

150.0

200.0

250.0

6M/19 6M/20

Digital Revenue

+ 23.2 % YoY

Unit: Million Baht

*Base on revenue from BECi

61.6

189.9

-

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

180.0

200.0

6M/19 6M/20

Global Content Licensing

+ 208.4 % YoY

Unit: Million Baht

113.1 92.2

71.9%

56.8%

-30.0%

-10.0%

10.0%

30.0%

50.0%

70.0%

90.0%

-20.0

30.0

80.0

130.0

180.0

230.0

6M/19 6M/20

Average Ad-Income Per Min* VS U-Rate

- 18.5 % YoY

U-Rate(24 Hrs CH3)

Avg. AdIncome/Min

*Base on 1. Advertising Income divided by CH3 minutes utilized time per day

• Growth YoY from Licensing Model

• Growth YoY from more simulcast dramas

• Lower utilization rate impact from Covid-19

1,858.2 1,589.7

1,016.0

12.3

5.7

4.3

363.7

379.6

330.8

-

-

42.7

2,234.2

1,975.1

1,393.9

-

500.0

1,000.0

1,500.0

2,000.0

2,500.0

2Q/19 1Q/20 2Q/20

Expenses

2Q/20 FINANCIAL PERFORMANCECONSOLIDATED INCOME STATEMENT

12

325.1 324.4 287.8

38.5 55.2 43.0

363.7 379.6 330.8

-

50.0

100.0

150.0

200.0

250.0

300.0

350.0

400.0

450.0

2Q/19 1Q/20 2Q/20

Selling and Administrative Expenses

- 64.7 % YoY

- 24.5 % QoQ

- 11.5 % YoY

- 11.3 % QoQ

- 9.0% YoY

- 12.9% QoQ

*Including Directors' remuneration

Unit: Million Baht

1,272.1 1,082.9

703.2

238.4

195.4

84.8

1,510.5

1,278.3

788.0

2Q/19 1Q/20 2Q/20

Major Expenses

Cost related to Broadcasting & Right to use spectrum

Production/Content Expenses

- 44.7 % YoY

- 35.1 % QoQ

- 64.4 % YoY

- 56.6 % QoQ

- 47.8 % YoY

- 38.4 % QoQ

Unit: Million Baht

Unit: Million Baht

Cost of Sales & Services

SG&A

Cost of Organizing concert & Shows - 37.6% YoY

- 29.4% QoQ

- 9.0% YoY

- 12.9% QoQ

- 45.3% YoY

- 36.1% QoQ

One- Off Item Estimate of compensation according to the verdict

Selling Exp.

Admin Exp.*

• Cost related to broadcasting & right to use spectrum reduce from analog switch off and return of licenses.

• Major Expenses continue to declined from lower production/content expenses from re-run programs

Unit: Million Baht

6M/20 FINANCIAL PERFORMANCECONSOLIDATED INCOME STATEMENT

13

3,629.2

2,605.7

67.2

10.1

707.7

710.5

42.7

4,404.2

3,369.0

6M/19 6M/20

Expenses

626.5 612.3

81.2 98.2

707.7 710.5

-

100.0

200.0

300.0

400.0

500.0

600.0

700.0

800.0

900.0

-

100.0

200.0

300.0

400.0

500.0

600.0

700.0

800.0

900.0

6M/19 6M/20

Selling and Administrative Expenses

Selling Exp.

Admin Exp.*

+0.4 % YoY

+ 21.0 % YoY

- 2.3 % YoY

*Including Directors' remuneration

Unit: Million Baht

2,420.5 1,786.1

513.4

280.3

2,933.9

2,066.3

6M/19 6M/20

Major Expenses

Cost related to Broadcasting & Right to use spectrum

Production/Content Expenses

- 29.6 % YoY

- 45.4 % YoY

- 26.2 % YoY

Unit: Million BahtCost of Sales & Services

SG&A

Cost of Organizing concert & Shows

One- Off Item Estimate of compensation according to the verdict

- 23.5 % YoY

+0.4 % YoY

- 28.2 % YoY

• Cost related to broadcasting & right to use spectrum reduce from analog switch off and return of licenses.

• Major Expenses continue to declined from lower production/content expenses from re-run programs

221.8

41.1

163.5

10.6%

2.5%

13.8%

-50.0%

-40.0%

-30.0%

-20.0%

-10.0%

0.0%

10.0%

-

50.0

100.0

150.0

200.0

250.0

300.0

2Q/19 1Q/20 2Q/20

GROSS PROFIT

Gross Profit Gross Margin (%)

419.7

204.5

10.2%

7.3%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

-

100.0

200.0

300.0

400.0

500.0

600.0

700.0

6M/19 6M/20

606.9

379.7 338.6

29.0%23.2%

28.6%

-100.0%

-80.0%

-60.0%

-40.0%

-20.0%

0.0%

20.0%

40.0%

-

100.0

200.0

300.0

400.0

500.0

600.0

700.0

800.0

900.0

2Q/19 1Q/20 2Q/20

EBITDA

EBITDA EBITDA Margin (%)

(103.6)

(275.2)(266.8)

-5.0%

-16.8%-22.5%

-70.0%

-60.0%

-50.0%

-40.0%

-30.0%

-20.0%

-10.0%

0.0%

(300.0)

(200.0)

(100.0)

-

100.0

200.0

300.0

2Q/19 1Q/20 2Q/20

NET PROFIT

Net Profit/(Loss) Net Profit Margin (%)

2Q/20 & 6M/20 FINANCIAL PERFORMANCECONSOLIDATED INCOME STATEMENT

1,239.6

718.3

30.1%

25.5%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

-

500.0

1,000.0

1,500.0

2,000.0

2,500.0

6M/19 6M/20

14

(231.7)

(541.9)

-5.6% -19.2%

-500.0%

-450.0%

-400.0%

-350.0%

-300.0%

-250.0%

-200.0%

-150.0%

-100.0%

-50.0%

0.0%

(600.0)

(500.0)

(400.0)

(300.0)

(200.0)

(100.0)

-

100.0

6M/19 6M/20

2.81 2.53

0.09x0.21x

0.22x

0.58x

0.00

1.00

2.00

3.00

4.00

5.00

6.00

-0.90

-0.70

-0.50

-0.30

-0.10

0.10

0.30

0.50

2,568.3 2,656.0

348.1 315.4

1,281.8 1,213.6

2,461.0 2,292.9

1,879.2 1,420.7

2,816.0

2,447.4

5,718.4 5,088.5

3,329.3 3,510.9

2,306.7

1,746.5

STATEMENT OF FINANCIAL POSITION

Unit: Million Baht

11,355

10,346

As of 31 Dec. 2019 As of 30 Jun. 2020

Key Financial Ratio

Other Non-current Assets

Property, plant and equipment

Deferred right to use spectrum

Deferred pictures rental,

picture products, plays and

copyright charges

Current Assets

Cash and cash equivalents

+ Short-term investments

Total Shareholders' Equity

Interest Bearing Debt

Other Liabilities

Net IBD/EBITDA

Net IBD/Equity

As of 31 Dec. 2019 As of 30 Jun. 2020

BookValue

• Interest Bearing Debt increased from TFRS 16 for Building rental

15

AGENDA

MARKET WRAP-UP

FINANCIAL PERFORMANCE

WHAT’sNEXT

16

1. Focus on Improving Contents

• News

• Drama

• Variety

2. Leverage our Contents

• Single content -> Multiple platforms

17

KEY STRATEGIC DIRECTION: SHORT – MEDIUM TERM FOCUS

3. International Business (IB) – GCL• To focus on key markets and

distributors

4. Provide strong support to build online revenue stream via Ch3+Thailand.

18

COVID-19 MITIAGATION PLANADJUSTMENT OF PRIME-TIME DRAMA TO MATCH WITH ADVERTISING SPENDING

• Divide Prime-Time from 10 July 2020.• Prime (1) On - Air 1.30 Hrs.• Prime (2) On – Air 30 - 45 Min.

First Run DramaRe-Run Drama

2Q/20 3Q/20

Mon - Fri Pre

Mon - Tue Prime (1)

Prime (2)

Wed - Thu Prime (1)

Prime (2)

Fri - Sun Prime (1)

Prime (2)

Day Type 1Q/20 May-20 Jun-20 4Q/20Aug-20 Sep-20Jul-20Apr-20

19

UPCOMING PRIME-TIME DRAMA

20

UPCOMING ONLINE FAN MEETING

Channel 3 Super Fan Live: SUPERNOVA

21

GLOBAL CONTENT LICENSING

1. Maximize Potential market: Simulcast & Library Contents• China: • Asean: Vietnam, Philippines,

Indonesia, Singapore, Malaysia, Brunei

• Korea: 2. Expand Platform:3. Seek New partners:

Mist of Love(2020)

Vie On, Vietnam

Furious Fire (2016)

TV5, Philippines

My Husband in Law (2020)

dimsum, Malaysia, SG, Brunei

10 Titles (2018-2019)

Netflix, Thailand

• Continue to expand with more Simulcast in 2nd Half 2020

Online Views (Million Views)

1,365 1,369

1,134 1,101

0

200

400

600

800

1000

1200

1400

1600 LaunchCH3 Plus

2Q/20 vs 1Q/20 Growth 4%

*period 2 Mar 2020 – 5 Aug 2020

CH3 Plus Membership

150K

New membership login and point earn in CH3 Plus

Conversion rate 6%

MAU (Web + APP)

4.9 MCH3 PlusIncluded CH3 Thailand 2M

”ชอ่ง 3 ทีต่ามใจคณุ”• Personalized content• 1080p HD • Notification• Continue Watching• Point Earned

Current: Web 70% vs App 30%, Turn to be app user more

(previously Web 85% vs App 15%)

More than 190 Territories

22

ONLINE UPDATE

2x Digital REVENUE• CH3 PLUS• Expansion of OTT Licensing • Optimization Social Media

23

INCREASE COST REDUCTION TO MORE THAN 30% YoY

• Fully realized Saving from licenses return & Network cost• Saving from Content Cost Reduction • Operation saving from downsizing & Analog Switch-Off

• Content Costs Reduction- Production Cost reduction- Rerun of programs - No sport Licensing cost- Freeze acquiring of international contents

• Reduce Network & Licensing costs• Reduce Selling Expenses• Reduce G&A

THANK YOU24

APPENDICES

25

26

2Q/20 CONSOLIDATED P&L

M.THB % M.THB % M.THB % (+/-) % (+/-) %

Total Revenues 2,092.3 100.0% 1,636.5 100.0% 1,183.8 100.0% (908.5) -43.4% (452.7) -27.7%

Advertising income 1,814.8 86.7% 1,400.0 85.5% 887.0 74.9% (927.8) -51.1% (513.0) -36.6%

Income from copyright and other services 246.2 11.8% 219.6 13.4% 284.6 24.0% 38.4 15.6% 65.0 29.6%

Income from organizing concerts and shows 19.3 0.9% 6.1 0.4% 2.5 0.2% (16.8) -87.0% (3.6) -59.2%

Sales of goods 12.0 0.6% 10.8 0.7% 9.7 0.8% (2.3) -18.8% (1.1) -9.9%

Total Cost (1,870.5) -89.4% (1,595.4) -97.5% (1,020.4) -86.2% (850.1) -45.4% (575.1) -36.0%

Cost of sales and services (1,858.2) -88.8% (1,589.7) -97.1% (1,016.0) -85.8% (842.2) -45.3% (573.7) -36.1%

Cost of organizing concerts and shows (12.3) -0.6% (5.7) -0.4% (4.3) -0.4% (8.0) -64.7% (1.4) -24.5%

Gross Profit 221.8 10.6% 41.1 2.5% 163.5 13.8% (58.4) -26.3% 122.4 298.1%

Selling and Admin Expenses (363.7) -17.4% (379.6) -23.2% (330.8) -27.9% (32.8) -9.0% (48.8) -12.9%

Other income 30.3 1.4% 11.6 0.7% 14.3 1.2% (16.0) -52.8% 2.6 22.7%

Estimate of compensation according to the verdict - 0.0% - 0.0% (42.7) -3.6% 42.7 100.0% 42.7 100.0%

Share of profit (loss) of associates held by subsidiary 13.3 0.6% (0.7) 0.0% (1.2) -0.1% (14.5) -108.7% (0.5) -71.4%

Finance costs (31.2) -1.5% (29.3) -1.8% (29.8) -2.5% (1.4) -4.5% 0.5 1.8%

Profit before income tax expense (129.5) -6.2% (356.9) -21.8% (226.8) -19.2% (97.3) -75.1% 130.1 36.5%

Income tax (expense) revenue 29.5 1.4% 51.5 3.1% (78.4) -6.6% 107.9 366.1% 129.9 252.2%

Profit for the period (100.0) -4.8% (305.4) -18.7% (305.2) -25.8% (205.2) -205.1% 0.2 0.1%

Net Profit attributable to BEC World (103.6) -5.0% (275.2) -16.8% (266.8) -22.5% (163.1) -157.4% 8.4 3.1%

Non-controlling interests 3.6 0.2% (30.2) -1.8% (38.4) -3.2% (42.0) -1166.5% (8.2) -27.2%

EBITDA 606.9 29.0% 379.7 23.2% 338.6 28.6% (268.2) -44.2% (41.1) -10.8%

QoQSTATEMENT OF INCOME

(Consolidated)

2Q/19 1Q/20 2Q/20 YoY

27

6M/20 CONSOLIDATED P&L

M.THB % M.THB % (+/-) %

Total Revenues 4,116.1 196.7% 2,820.4 172.3% (1,295.8) -31.5%

Advertising income 3,533.3 168.9% 2,287.0 139.7% (1,246.3) -35.3%

Income from copyright and other services 451.6 21.6% 504.2 30.8% 52.6 11.6%

Income from organizing concerts and shows 102.5 4.9% 8.6 0.5% (93.8) -91.6%

Sales of goods 28.8 1.4% 20.6 1.3% (8.2) -28.6%

Total Cost (3,696.5) -176.7% (2,615.8) -159.8% (1,080.7) -29.2%

Cost of sales and services (3,629.2) -173.5% (2,605.7) -159.2% (1,023.5) -28.2%

Cost of organizing concerts and shows (67.2) -3.2% (10.1) -0.6% (57.1) -85.0%

Gross Profit 419.7 20.1% 204.5 12.5% (215.1) -51.3%

Selling and Admin Expenses (707.7) -33.8% (710.5) -43.4% 2.8 0.4%

Other income 49.6 2.4% 25.9 1.6% (23.7) -47.8%

Estimate of compensation according to the verdict - 0.0% (42.7) -2.6% 42.7 100.0%

Share of profit (loss) of associates held by subsidiary 22.9 1.1% (1.8) -0.1% 24.7 108.0%

Finance costs (68.8) -3.3% (59.1) -3.6% 9.7 14.1%

Profit before income tax expense (284.3) -13.6% (583.7) -35.7% 299.3 105.3%

Income tax (expense) revenue 60.8 2.9% (26.9) -1.6% (87.7) -144.2%

Profit for the period (223.6) -10.7% (610.5) -37.3% (387.0) -173.1%

Net Profit attributable to BEC World (231.7) -11.1% (541.9) -33.1% (310.3) -133.9%

Non-controlling interests 8.1 0.4% (68.6) -4.2% (76.7) -947.8%

EBITDA 1,239.6 59.2% 718.3 43.9% (521.3) -42.1%

STATEMENT OF INCOME

(Consolidated)

6M/19 6M/20 YoY