Financial Results of 2013 February 27, 2014

2013 results outlook

Overall TV

2

5,985 +0.8%

3,484 -1.0%

Total Advertising Expenditure increased 1% compare to 2012

• TV Adex increased 1.7% • Radio Adex decreased 0.6%

Premier League live broadcasting

• Rating increased from previous program 130% with 95 million Baht of revenue

Gain 805 million Baht revenue from government and private agencies projects

Increased revenue from Non-broadcast business

• Revamp TV programs on January and July

• Advertising sale revenue decreased 17%

• Revenue from government agencies projects increased 75%

• Revenue from News programs increased 16%

New media

338 -0.8%

• Thirteen satellite channels in C-band system (own operate 2 channels)

Radio

958 +1.6%

• Special events for sales promotion

• Revenue from regional stations increased 4%

Revenue from Government agencies’ projects increased for

2013 highlights

Digital Terrestrial Network Provider License

Digital Terrestrial Content License

3

MCOT won the auction for Digital Terrestrial Television Broadcasting service on national level in Variety High-Definition (HD) and Standard-Definition Kids & Family categories on 26th and 27th December, 2013.

Channel Channel

14 30 Kids & Family SD Variety HD

+75% YoY

MCOT have been granted Digital Terrestrial Network License in July, 2013. With 15 years term for each license.

Financial performance

5,939

3,620

1,768

5,985

4,061

1,528

Revenue Expense Profit for theperiod

2012 2013

Unit: THB mn

1,569

925

515

1,489

1,069

331

Revenue Expense Profit for the period

Q4-12 Q4-13

1,579

1,107

376

1,489

1,069

331

Revenue Expense Profit for the period

Q3-13 Q4-13

Unit: THB mn

4

OVERALL YOY

QOQ Unit: THB mn

Revenue in all segments

2,639 3,018

3,513 3,238 3,519 3,484

17 158

340 338

806

833

899 855

942 957

908

1014

927 1062

1137 1206

2008 2009 2010 2011 2012 2013 TV New Media Radio JV & Others

914 875

92 79

267 267

296 268

Q4-12 Q4-13

1,569 1,489

976 875

89 79

248 267

266 268

Q3-13 Q4-13

1,579 1,489

5

Unit: THB mn Unit: THB mn REVENUE HISTORICAL YOY

QOQ Unit: THB mn

4,353

4,865

5,356 5,313

5,939 5,985

2,639

3,018

3,513

3,238

3,519 3,484

17 158

341 338

2008 2009 2010 2011 2012 2013

TV New Media

TV & New Media revenue

914 875

93 79

Q4-12 Q4-13

TV New Media

1,007 954

976 875

89 79

Q3-13 Q4-13

TV New Media

1,065 954

6

REVENUE HISTORICAL Unit: THB mn YOY

QOQ Unit: THB mn

Unit: THB mn

Radio revenue

7

806

833

899

855

942 957

2008 2009 2010 2011 2012 2013

Q4-12 Q4-13

267 267

Q3-13 Q4-13

248 267

REVENUE HISTORICAL Unit: THB mn YOY

QOQ Unit: THB mn

Unit: THB mn

Cost structure

1,647 1,737

2,018 2,068 2,032

2,613

104 110 117 123 127 128

946 1,140 1,163

1,075 1,186

1,320

2,697 2,987

3,298 3,266

3,615

4,061

2008 2009 2010 2011 2012 2013

TV & New Media & Radio Joint Operation & Others

SG&A Total

564 711

30

33 331

324

Q4-12 Q4-13

925 1,068

725 711

32 33

350 324

Q3-13 Q4-13

1,107 1,068

8

COST HISTORICAL Unit: THB mn YOY

QOQ Unit: THB mn

Unit: THB mn

377 331

-0.6 -0.2 Q3-13 Q4-13

Owners of the parent Non-controlling interests

514

331

1.7

-0.2 Q4-12 Q4-13

Owners of the parent Non-controlling interests

Profit for the period

515

331

376 331

9

PROFIT HISTORICAL Unit: THB mn YOY

QOQ Unit: THB mn

Unit: THB mn

1,230

1,393 1,446

1,376

1,772

1,528

2008 2009 2010 2011 2012 2013

0.75 0.75 0.80 1.00 1.00 1.00

0.85 1.05 1.10

1.00 1.30

1.11

89% 89% 92% 101%

90% 95%

0%

20%

40%

60%

80%

100%

120%

0.00

0.50

1.00

1.50

2.00

2.50

2008 2009 2010 2011 2012 2013

Payo

ut

Rat

io

Div

iden

d B

aht/

shar

e

Dividend (1st half) Dividend (2nd half) Payout Ratio

EPS and Dividend

10

Dividend Policy: Not less than 40% of Net Profit

EPS

1.79 2.02 2.07 1.97 2.56 2.22

6.7%

7.8%

6.2%

7.0%

4.9%

6.9%

2%

4%

6%

8%

10%

2008 2009 2010 2011 2012 2013

MCOT Dividend Yield

MCOT Dividend Yield

11

1.79 2.02 2.07 1.97 2.56 2.22

EPS

Last Trade on Feb 25, 2014 = 30.50 Baht

Financial position

11,248

3,209

8,039

Asset Liabilities & Shareholders'Equity

Asset Liabilities Shareholders' Equity

11,168

3,208

7,960

Asset Liabilities & Shareholders'Equity

Asset Liabilities Shareholders' Equity

12

2012 Unit: THB mn 2013 Unit: THB mn

Digital Terrestrial Broadcasting

Broadcasting timeline

New Digital Channels

Analogue Channels

DIGITAL SYSTEM

ANALOGUE SYSTEM

Analogue Channels

April, 2014 June, 2014

Continue broadcasting

2018

End of concession

Simulcast

Simulcast

Continue simulcast automatically

Have to submit for Simulcast License

Channel 5, 9, 11, TPBS

Channel 3

2020

Channel 7

Channel 5, 11, TPBS

Channel 3

Channel 7

Channel 9

End of concession

End of concession

End of concession

NBTC’s terminate broadcasting period

NBTC’s terminate broadcasting period

NBTC’s terminate broadcasting period

14