MAJOR

CINEPLEX

GROUP PLC.4Q19 Analyst Meeting

Paragon Cineplex, 20th February 2019

1

FINANCIAL

OVERVIEW

2

Admission Revenue

REVENUE BREAKDOWN

BY SEGMENT

Major Group’s Revenue Breakdown 2019 Margin 2018 Margin

Cinema 74% 28% 76% 28%

Admission Revenue 55% 14% 56% 14%

Concession Revenue 20% 67% 20% 69%

Advertising Business 15% 80% 14% 84%

Bowling & Karaoke Business 4% 38% 4% 36%

Rental & Service Business 4% 9% 4% 9%

Movie Content

(Content Provider & Local

Production)

3% 2% 2% (3%)

Total Revenue 100% 35% 100% 35%

55%Concession

Revenue

20%

AdvertisingBusiness

15%

Rental & Service

Business 4%

Bowling & Karaoke

Business

4%Movie Content

3%

3

4Q19 QUARTERLY BRIEFING

Bt.Million 4Q19 4Q18Growth

Amt. %

Revenue 2,667 100% 2,951 100% (283) (10%)

Gross Margin 957 36% 1,110 38% (153) (14%)

Operating Profit 235 9% 262 9% (27) (10%)

SG&A Exp. 722 27% 848 29% (126) (15%)

EBITDA 654 25% 727 25% (74) (10%)

EBIT 355 13% 379 13% (23) (6%)

Core Profit 264 10% 222 8% 43 19%

Net Profit 264 10% 259 9% 5 2%

Remark: Net Profit decreased from Profit of Divestment in Siam Future Development Plc.

and PVR Ltd. (4Q19: -MB / 4Q18 : 38MB)

Financial Highlights

4

4Q19 QUARTERLY BRIEFINGRevenue Breakdown

2,6

67

2,9

51

4Q18 4Q19

Total Revenue

(10%)(283mb.)

1,7

02

1,4

64

4Q18 4Q19

Admission

Revenue

(14%)(238mb.)

578

527

Concession

(9%)(51mb.)

373 418

Advertising

+12%(+45mb.)

4Q18 4Q19 4Q18 4Q19 4Q18 4Q19 4Q18 4Q19 4Q18 4Q19

114

103

Bowling group

(10%)(11mb.)

106

107

Retails

+1%(+1mb.)

77

49

Movie Content

(37%)(29mb.)

5

2019 YEARLY BRIEFING

Bt.Million 2019 2018Growth

Amt. %

Revenue 10,697 100% 9,952 100% 745 7%

Gross Margin 3,691 35% 3,453 35% 238 7%

Operating Profit 1,130 11% 962 10% 168 17%

SG&A Exp. 2,561 24% 2,491 25% 70 3%

EBITDA 2,943 28% 2,991 30% (48) (2%)

EBIT 1,574 15% 1,681 17% (107) (6%)

Core Profit 1,138 11% 955 10% 183 19%

Net Profit 1,170 11% 1,284 13% (114) (9%)

Financial Highlights

6

Remark: Net Profit decreased from Profit of Divestment in Siam Future Development Plc.

and PVR Ltd. (FY2019 : 32MB. , FY2018 : 329MB)

2019 YEARLY BRIEFINGRevenue Breakdown

10

,69

7

9,9

52

2018 2019

Total Revenue

+7%(+745mb.)

5,5

92

5,8

56

2018 2019

Admission

Revenue

+5%(+264mb.)

1,9

72

2,0

97

Concession

+6%(+125mb.)

1,3

40

1,5

84

Advertising

+18%(+244mb.)

438

419

Bowling group

(4%)(19mb.)

425

430

Retails

+1%(+6mb.)

185

311

Movie Content

+68%(+126mb.)

2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 7

2019 YEARLY BRIEFINGRevenue : Admissions

ATP & Guest Counts

ATP (THB)

Guest Counts Breakdown By Regional

ATP Breakdown (THB)

8

184 201 188 196

141 148 141 144

2018 2019 4Q18 4Q19

Bangkok & Vicinity Upcountry

49% 47% 46% 48%

51% 53% 54% 52%

2018 2019 4Q18 4Q19

Bangkok & Vicinity Upcountry

162

173

162

169

2018 2019 4Q18 4Q19

37.8 40.13

10.88

0

5

10

15

20

25

30

35

40

45

2018 2019 4Q18 4Q19

Guest Counts (Million) Comp.&MPASS

2.345.97

1.00 2.20

35.49 34.16

11.75

10.75 8.69

29.6% 31.2% 31.4%35.3% 36.4% 38.0%

2014 2015 2016 2017 2018 2019

30.99 28.54 29.69 32.137.8 40.13

151

165166 162 162

173

0

10

20

30

40

50

60

140

145

150

155

160

165

170

2014 2015 2016 2017 2018 2019

Guest Count (+Comp +MPASS)

ATP (-Comp -MPASS)

4,479 4,545 4,821 4,856

5,592 5,856

1,306 1,375 1,443

1,665 1,972 2,097

2014 2015 2016 2017 2018 2019

Box Office

Concession

58 66 82 67 71 67

77 8188 111 113 92

54 50 38 39 3844

48119 99 61 81207

245

327316 283 284

2014 2015 2016 2017 2018 2019

Hollywood International Thai Others

CTB Trend (Con-To-Box Ratio)

9

Box Office and Concession RevenueATP Trend

Movie per Annual

2019 YEARLY BRIEFINGRevenue : Admissions

2019 YEARLY BRIEFINGRevenue : Admissions

10

Box Office Breakdown by Regional

78% 77% 84% 74% 79%67%

94% 92%66%

22% 23% 15% 26% 21%33%

6% 8%

34%

2015 2016 2017 2018 2019 1Q19 2Q19 3Q19 4Q19

Hollywood Local

Market Share Breakdown

by Movies

4Q19 Top 5 Box Office

4Q18 Top 5 Box Office

197MB 171MB 149MB 126MB 77MB

284MB 277MB 156MB 152MB 101MB

56% 55% 53% 56%

44% 45% 47% 44%

2018 2019 4Q18 4Q19

Bangkok & Vicinity Upcountry

2019 YEARLY BRIEFINGRevenue Concession

Concession Revenue & Margin % Con to Box Ratio

Remark:• 2019: 6% Revenue Growth • % Con to Box Ratio is 38%• Gross Margin declined due volume of bucket set items

and marketing campaign.

Top 5 Best Seller 4Q19

11

37.8 40.1

11.8 10.9

36% 38%35%

39%

0%

5%

10%

15%

20%

25%

30%

35%

40%

0.0

10. 0

20. 0

30. 0

40. 0

50. 0

60. 0

70. 0

80. 0

2018 2019 4Q18 4Q19

Admission (Million) % Con to Box

1,972 2,097

578 527

68% 67% 69% 67%

25%

30%

35%

40%

45%

50%

55%

60%

65%

70%

75%

100

600

1,10 0

1,60 0

2,10 0

2,60 0

2018 2019 4Q18 4Q19

Concession Revenue (THB) Margin (%)

2019 YEARLY BRIEFINGRevenue Advertising

Remark:• 2019: 18% Revenue growth from new screen expansion,

Contract renewal, New strategy of selling media through agency model, new clients additional.

• Media team is able to increase proportion of media in upcountry location.

• Gross Margin declined due rebate basis is higher.

12

1,340 1,584

373 418

84% 80% 85% 81%

0% -

200

400

600

800

1,000

1,200

1,400

1,600

2018 2019 4Q18 4Q19

Advertising Revenue (Million) Margin (%)

Advertising Revenue

425 430

106 107

9% 9% 8% 8%

25%

27%

29%

31%

33%

35%

37%

39%

100

600

1,10 0

1,60 0

2,10 0

2,60 0

2018 2019 4Q18 4Q19

Revenue (Million) Margin (%)

2019 YEARLY BRIEFINGRevenue Bowling Group/Rental Service/Movie Content

Rental Service

•Revenue declined 4% from 3 branches closure (Udonthani, Hatyai, Chiangmai).

Bowling Group

•Revenue increased from new rental shops.

Movie Contents

•Revenue growth from Movie: Hell Boy3, Angel has Fallen, Weathering with you, Khun Pan Fah Fuen movie and Free TV License.

Unit : THB mn

13

438 419114 103

36% 38% 34%

41%

25%

27%

29%

31%

33%

35%

37%

39%

41%

100

600

1,10 0

1,60 0

2,10 0

2,60 0

2018 2019 4Q18 4Q19

Revenue (Million) Margin (%)

185 311

77 49

100

600

1,10 0

1,60 0

2,10 0

2,60 0

2018 2019 4Q18 4Q19

2019 YEARLY BRIEFINGBalance Sheet Snapshot

ASSETS

1

4,0

74

EQ

UIT

Y 6

,63

2LI

AB

ILIT

IES

7,4

42

Bt.million 31Dec18 30Dec19 %chg

Assets 14,074 13,547 (4%)

Liabilities 7,442 7,202 (3%)

Equity 6,632 6,346 (4%)

31 DEC 18

Net interest-bearing debts

Equity (Exclude minority interests)

Net D/E

14

6,637 6,414 6,510 6,456

4,727 4,167 3,330 3,075

0.710.65

0.510.48

0.0 0

0.1 0

0.2 0

0.3 0

0.4 0

0.5 0

0.6 0

0.7 0

0.8 0

-

2,00 0

4,00 0

6,00 0

8,00 0

10,0 00

12,0 00

14,0 00

16,0 00

18,0 00

20,0 00

2016 2017 2018 2019

30 Dec 19

ASSETS

1

3,9

69

LIA

BIL

ITIE

S

7,2

51

EQ

UIT

Y 6

,71

8

Investments %Share Cost per Share Major’s Cost Market ValueUnrealized

Gain (Loss)

Siam Future 28.09% 4.26 2,552 3,174 622

MJLF 33.00% 10.00 1,089 1,209 120

MPIC 92.46% 1.63 1,959 2,224 264

Total 5,601 6,607 1,006

STRATEGIC INVESTMENT AND HIDDEN PROFIT

Bt.millionClosing price as on 31 Dec 2019

Investment portfolio as of 31 December2019:• 28.09% in Siam Future Development Plc. (SF)• 33.00% in Major Cineplex Lifestyle Leasehold Property Fund (MJLF)• 92.46% in M Pictures Entertainment Plc. (MPIC)• 40.00% in Thai Ticket Major Co., Ltd.• 69.97% in Major Platinum Cineplex Co., ltd. (Cambodia)• 59.98% in Major Platinum Cineplex Co., ltd. (Lao)• 49.00% in CJ Major Entertainment

15

DIVIDEND PAYOUT (Dividend Track Record)

Net Profit (MB)

% Dividend Payout

16

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Net Profit (MB) 761.98 781.67 811.14 1,051.62 1,086.28 1,170.92 1,188.22 1,193.34 1,284.13 1,170.03

% Dividend Payout 88.80% 91.11% 94.56% 85.00% 86.07% 87.79% 90.23% 93.98% 94.10% 103.23%

EPS (THB) 0.91 0.9 0.92 1.18 1.22 1.31 1.33 1.33 1.43 1.31

Interim Dividend (Baht : Share) 0.2 0.43 0.39 0.5 0.5 0.55 0.6 0.65 0.65 0.65

Remaining Dividend (Baht : Share) 0.6 0.39 0.48 0.5 0.55 0.60 0.60 0.60 0.70 0.70

DPS (THB) 0.8 0.82 0.87 1 1.05 1.15 1.2 1.25 1.35 1.35

Dividend yield (%) 6.3 5.8 4.6 5.7 3.8 3.3 3.7 4.3 6.6 5.3

761.98 781.67811.14

1,051.621,086.28 1,107.92

1,188.22 1,193.341,284.13

1,170.03

88.8% 91.1%94.6%

85.0%86.1% 87.8%

90.2%93.9%

94.1%103.2%

40. 0%

50. 0%

60. 0%

70. 0%

80. 0%

90. 0%

100 .0%

110 .0%

100 .00

300 .00

500 .00

700 .00

900 .00

1,1 00.00

1,3 00.00

1,5 00.00

1,7 00.00

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

*Record date on 23 April 2020 and the payment of the dividend will be made on 7 May 2020.

BUSINESS

REVIEW

17

*Please note that release dates are subject to change.

1H20 HOLLYWOOD & THAI : MOVIE LINE UP BLOCKBUSTER

Fast & Furious 9

Top Gun 2: Maverick

007 No Time to Die

Black Widow

Wonder Woman 1984

Mulan

Dolittle

Artemis Fowl

The New Mutants

A Quiet Place Part 2

The Invisible Man

1917

Code 8

Underwater

The Call of the Wild

Brahms: The Boys

The Woman in the Window

The Grudge

Fantasy Island

ANIMATION

Soul

Trolls World Tour

Onward

Sonic the Hedgehog

Peter Rabbit 2

The SpongeBob SquarePants3

THAI MOVIES

Pee Nak 2: Horror Comedy

Classic Again: Romantic Drama

Poo Bao: Comedy

Pojjaman: Comedy

E-Riem Sing: Comedy

Mother Gamer: Teenager

The Message: Comedy

Present Still Perfect: Rom-Com

Estimate 25-30 Thai Movies in 1H20

*(Data as of Jan20)

17

*Please note that release dates are subject to change.

2H20 HOLLYWOOD: MOVIE LINE UP HOLLYWOOD

The Eternals

Godzilla vs. Kong

Morbius

Venom 2

Jungle Cruise

Untitled Sony/Marvel Sequel

Untitled WB Event Film #2

G.I. Joe: Ever Vigilant

Tenet

Ghostbusters: Afterlife

SAW Reboot

The Conjuring 3

The Hitman's Bodyguard 2

The King's Man

Rumble

Free Guy

18

ANIMATION

Raya and the Last Dragon

Minions: The Rise of Gru

Scooby-Doo

The Croods 2

Clifford the Big Red Dog

Untitled Tom & Jerry Film

THAI MOVIES

My God Father

Cracked

Bikeman 3

My Boss is Serial Killer

The Adventure of Rung

Estimate 25-30 Thai Movies in 2H20

*(Data as of Feb20)

EXPANSION PLAN

Laos•13 Screens •3 Locations

Cambodia •26 Screens•5 Locations

Phnom Penh, Siem Reap

Pakse, Vientiane

Thailand •776 Screens •163 Locations

Nationwide

BKK & Vicinity Province International

116 123207 217 240 245 255 268 267 269 294 294 304 336 343 338 349 35729 39

50 71 89 86 94 114119

185 209

280319 347

400 418

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

123142

236256

290316

344 354 361383

413

479520

628678

710

782814

20

No. Location Screens Location No.BKK&

VicinityUPC Inter Opening Date

1 EGV Mark4 Phrae 3 172 √

2 EGV Lotus HatYai 2 173 √

3 EGV Lotus Phayao 2 174 √

4 EGV Lotus Minburi 3 175 √

5 Lotus Kantaruk 2 176 √

6 Lotus Nikombangkadi 2 177 √

7 Lotus Samutprakarn 2 178 √

8 Lotus Sadao 2 179 √

9 Big C Mahachai 2 2 180 √

10 Robinson Ratchapruek 5 181 √

11 Big C Yala 3 182 √

12 Big C Poowin 3 183 √

13 Big C Pranburi 2 184 √

1Q20

(7 Screens)

2Q20

(5 Screens)

2H20

(21 Screens)

The rest of the locations will be annouced soon

MAJOR currently operated 815 screens, 171 locations nationwide and international in year 2019. (32 screens, 11 locations additional in year 2019) and plan to expand 30 – 40 additional screens in year 2020.

Major has deploy four expansion models to expand cinemas in nationwide / international locations.

Most of the locations applied revenue sharing with no minimum guarantee and sign long term contract

with landlords.

EXPANSION MODELS

Shopping Malls Lifestyle mall Hyper Markets Standalone

(Central Group, The Mall Group, Robinson, Local developer)International Location

Unique type located near by residential area, the biggest project is Mega Bangna (JV with IKEA)

5 Standalone 66 Shopping Malls 6 Lifestyle Malls 94 Hypermarket

Tesco Lotus, Big C –with full function of retails space, banks, restaurants and cinemas. Expand in every type of cities

Major PinklaoMajor SukhumvitMajor RatchayothinMajor RangsitEsplanade Ngamwongwan

21

Various media platforms and loyalty programs increase viewing frequency as well as nurture movie culture.

SOCIAL MEDIA PLATFORM

LINE MAJORFRIENDS

15.8 MFRIENDS

FACEBOOKMAJORGROUP

5.5 MFANPAGE

TWITTER

MAJORGROUP 2.6 M

FOLLOWERS

INSTAGRAM

MAJORFRIENDS478 K

FOLLOWERS

YOUTUBE

MAJORGROUP 841 K

SUBSCRIBERS

MOBILE APPLICATION11 M

DOWNLOAD

M GENERATION5 M

MEMBERS

M PASS

125 K MEMBERS

( STARTED FROM JAN’18 )

WEBSITE5 M

VISITORS / MONTH

EMAIL SUBSCRIBERS1.5 M

MEMBERS

22

For further inquiry http://investor.majorcineplex.com/enContact person: Suparee JayapoomEmail : ir@majorcineplex.com

DisclaimerThe information in this presentation has been prepared by Major Cineplex Public Company Limited (MAJOR) and is general background information about MAJOR’s activities current as at date of this presentation. This presentation is not intended to provide the basis of any investment decision, nor to substitute your own analysis and investigation and should not be considered as a recommendation to any recipient of this presentation. Before acting on any information you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek independent financial advice. All securities or instrument transactions involve risks and uncertainties which may cause the actual results, performance or achievements to bematerially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Nothing in this presentation is, or should be relied on as a promise or representation of MAJOR as to the future.

AppendixAcronyms, Abbreviations, and Initialisms

ATP Average Ticket Price Guest Count (GC) No. of Tickets soldCTB Concession to Box Office Ratio MGEN Major Loyalty ProgramComp. Complimentary Ticket MPASS Unlimited Movies Pass Concession Revenue from Popcorn, Soft drink and other limited only 5 branches (Pilot Project)

23