Asiasoft Corporation PLC. (AS)

Asiasoft Talk 2014

3rd March 2014 DisclaimerAgenda

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Page 2 AgendaAgenda

2013 Review

2014 Outlook

2014 Strategy

Page 3 2013 Review What happenedAgenda in 2013

• Mobile gaming grows at exponential rate; • eSports games including Multiplayer Online Battle Arena (MOBA) took the community with a storm; • MMO Gamers playing more games and becoming very selective in the game they play; • Games with smaller branding fails to excite the gamer community; • Online gaming environment has evolved rapidly into another new era…

Page 5 Online Game PublishersAgenda Breakdown by Market

No. of Game No. of Publisher Market New 2012 New 2013 Total 2013 New 2012 New 2013 Total 2013

Thai 61 75 196 11 10 47

English 0 13 39 6 2 9

Chinese 40 43 109 9 3 35

Other 11 100 325 2 14 79

Total 112 231 669 28 29 170

Page 6 Thai = ASC , Funbox ,PCG / English = ASO , ASM / Chinese = CIB / Others = TLC ,PT Current Portfolio Agenda

At the end of 2013, AS group operates 56 online game titles in 6 Number of Games by Genre

countries: Web 7 Games MOBA 13% 1 Game 2% • 29 Titles FPS 5 Games • 9 Titles 10% • 20 Titles MMORPG Casual 35 Games 8 Games • Indochina 6 Titles 62% 13% • 2 Titles • 2 Titles

Page 7 Note: Some games are operated in more than one country Current Portfolio Agenda

MOBA Web 1 Game 7 Games 2% 13% FPS 5 Games 10% MMO 35 Games Casual 62% 8 Games 13% Web MOBA Web 2 Games 1 Games 5 Games 3% 7% FPS MOBA 14% 2 Games 1 Game 10% 3% FPS Casual 4 Games 4 Games 12% 13%

Casual MMO MMO 4 Games 20 Games 20 Games 12% 59% 67%

Page 8 Note: some game were served in more than one country Total RevenueAgenda Structure

Domestic Overseas

 Singapore

 Malaysia

Thailand  Indonesia  Philippines  Indochina

68% 70% 66% 57% 54% Domestic

43% 46% Overseas 32% 30% 34%

2009 2010 2011 2012 2013

Page 9 Historical PerformanceAgenda 2009 - 2013

% Growth Unit: Million Baht FY2009 FY2010 FY2011 FY2012 FY2013 FY2012 FY2013

Revenue 1,472.70 1,539.61 1,684.52 2,016.32 1,714.77 ▲ 19.7% ▼ 15.0% < By Region > Domestic 999.50 1,082.60 1,112.30 1,154.87 927.57 ▲ 3.8% ▼ 19.7% Overseas 473.10 457.01 572.22 861.45 787.20 ▲ 50.5% ▼ 8.6% < By Business Type > Online 1,195.30 1,359.60 1,515.83 1,661.97 1,529.91 ▲ 9.6% ▼ 7.9% Distribution 216.80 124.40 91.97 277.68 114.89 ▲ 201.9% ▼ 58.6% Others 60.50 55.70 76.70 76.67 69.97 ▼ 0.0% ▼ 8.7% COGS 822.60 793.50 900.58 1,124.35 1,156.94 ▲ 24.8% ▲ 2.9% Gross Profit 650.10 746.10 736.99 847.59 528.55 ▲ 15.0% ▼ 37.6% % GP 44.10% 48.50% 45.01% 42.98% 31.36%

SG&A 374.20 378.90 418.95 513.40 480.05 ▲ 22.5% ▼ 6.5% % SG&A 25.41% 24.61% 24.87% 25.46% 28.00% EBIT 275.90 367.20 364.96 378.56 77.79 ▲ 3.7% ▼ 79.5% % EBIT 18.73% 23.85% 21.67% 18.77% 4.54%

Net Profit 178.50 264.47 296.41 293.98 51.94 ▼ 0.8% ▼ 82.3% % NP 12.10% 17.20% 17.60% 14.58% 3.03%

Basic EPS (Baht) 0.60 0.87 0.97 0.96 0.17

Page 10 Revenue by Business (Yearly)

Unit: THB mn 15.0% Y-Y 1,684.52 2,016.32 1,714.77

2,000.00 45.0% 1,661.97 43.0% 1,529.91 1,515.83 1,500.00 31.4%

1,000.00

500.00 277.68 114.89 91.97 29.77 46.95 32.29 44.38 40.68 29.29 - FY11 FY12 FY13 Online Income Distribution Income Advertising and Other Income Other Revenues %Gross Margin

Online Revenue - 7.9 % Y-Y Distribution - 58.6 % Y-Y

Advertising 26.0 % Y-Y Other Revenue - 36.3 % Y-Y

Page 11 Game launched in 2013 and 2012

Genre Launched 2013 Launched2012

Game Genre Actual Planned Actual Planned

MMORPG 8 20 8 11

Casual 1 2 4 6

FPS - 2 - 1

WEB 1 5 4 4

Total 10 29 16 22

Page 12 RevenueAgenda by business

Advertising Advertising Advertising 2% Other 2% 3% 2% Other Distribution Other 2% 2% Distribution Distribution Income Income Income 7% 5% 14%

Online Online Online Income Income Income 89% 90% 82%

2011 2012 2013

Page 13 Revenue BreakdownAgenda by Genre

Web game Web game FPS MOBA MOBA 4.2% FPS 1.1% 4.3% - 0.0% Casual 13.7% MMORPG 18.9% MMORPG 68.2% 72.5% Casual 16.9%

• Revenue contribution from FPS YoY increased from 4.3% to 13.7% of total revenue.

Page 14 COGS Analysis

FY12 COGS FY13 COGS

Depreciation Other Cost Depreciation Other Cost 3% 3% 3% 8% Network Service Network 10% Service 10%

Direct Cost 13% Royalty Fee Direct Cost Royalty Fee 55% 9% 52%

Employee Expenses Employee 16% Expenses 18%

2.9% Y-Y Total COGS is THB 1,124.35 mn Total COGS is THB 1,156.93 mn

Page 15 SG&A / Total Sales (Yearly)

Unit: THB mn -6.5% Y-Y %

600.0 28.5 28.00 28.0

500.0 27.5

27.0 400.0 26.5

26.0 300.0 25.46 25.5 24.87 25.0 200.0 418.95 24.5 480.05 100.0 513.4 24.0 23.5

0.0 23.0 2011 2012 2013

SG&A SG&A/Total Sales

Page 16 Write-Agendaoff by Market

Thai English Chinese Others

• This is an • This is an • This is an • 22 games • 5 games • 10 games • 3 games example example example • 79 MB • 11 MB • 10 MB • 6 MB text text text • 40 games • Go ahead • Go ahead • Go ahead • 106 MB and place and place and place your your your own text own text own text ample text Example ample text Total 2013 text Total 2012

• 40 games • 10 games • 106 MB • 40 MB

Page 17 Thai = ASC , Funbox ,PCG / English = ASO , ASM / Chinese = CIB / Others = TLC ,PT Net Profit (Yearly) Agenda

Unit: THB mn -82.3% Y-Y

350.00 17.60%

300.00 14.58% 250.00

200.00

150.00 296.41 293.98

100.00 3.03% 50.00 51.94 - FY11 FY12 FY13 Net Profit Net Profit Margin

Page 18 Note: Net Profit attributable to equity holders of the parent Balance SheetAgenda Structure Dec 31, 2012 Dec 31, 2013 %Chg Unit: THB mn Assets 2,045 1,741 -14.8%

Liabilities 644 523 -18.8%

Equities 1,401 1,218 -13.1%

D/E Ratio 0.45 0.43 Total Liabilities

Non-curent

2,045 644 1,741 523 Lia. 56 Total Assets

Current Lia.

457 LIABILITIES LIABILITIES Current Asset Non- 799 1,401 1,218 Current Total Equity Asset Registered 942 Paid-Up

307

Non Controlling Share 104 Premium Return 797

Earning

ASSET

ASSET EQUITY EQUITY 10

Page 19 SummaryAgenda 2013

Major Write-Off

19 Games Postponed Reduced Revenue and Profit

Intense MOBA Competition

Strong Mobile Competition

Page 20 2014 Outlook What is happeningAgenda in 2014

• eSports games continue to overwhelm the gaming community; • MMO Gamers playing ignore small games and try big titles; • Mobile gaming becoming overly crowded and saturated; • Developers work with regional publishers instead of individual country publisher; • Gamers are getting more creative with their own content creation.

Page 22 2014Agenda Outlook

Grow eSports & MOBA revenue contribution to 5%

Grow mobile revenue contribution to 5 %

Grow Group revenue by 25%

*Excluded Up Inc. (PH)

Page 23 2014 Strategy StrategyAgenda 2014 eSports & MOBA

Global Regional Contents

Mobile Contents

Territory Expansion

Total Online Entertainment

Page 25 eSports & MOBA eSportsAgenda & MOBA

Genre: MOBA Genre: MOBA Developer: Neoact Developer: S2 Games Launch: 2013 Launch: 2014 Countries of Operation: SEA Countries of Operation: SEA About: Chaos Online is a competitive 5 About: Strife is the Premier Second versus 5 MOBA game. There are over 65 Generation free-to-play Multiplayer unique heroes from the two different Online Battle Arena (MOBA), created factions. Players can choose their role to be from ground-up by the developer of either a Tanker, Initiator, AD Dealer, Nuker or Thailand's #1 MOBA, Heroes of Supporter. Newerth.

Page 27 2014/3/3 eSportsAgenda & MOBA

• Establish eSports infrastructure: • Online and Offline Tournaments / Championships • Online Webcast / Shout cast • Asiasoft Twitch TV / Youtube Channel

Page 28 Global / Regional Content RegionalAgenda Content

Genre: MMORPG Genre: MMORPG Developer: Sony Online Entertainment Developer: SEGA Launch: 2014 Launch: 2014 Countries of Operation: SEA Countries of Operation: SEA About: DC Universe™ Online SEA allows About: Phantasy Star Online 2 is players to enter the renowned DC sequel to pioneer MMORPG Phantasy Universe™ as an active force for good or Star Online, which features evil where they will battle alongside revolutionary combat in action-driven their favourite iconic heroes and villains amd immersive sci-fi fantasy setting. such as Superman, Batman, Wonder Woman, Circe, Lex Luthor and the Joker.

Page 30 2014/3/3 LegacyAgenda Content

Genre: MMORPG Genre: MMORPG Type: Casual MMO Game Developer: mGames Developer: ESTSoft Developer: HANBISOFT Launch: 2014 Launch: 2014 Launch: 2014 Country of Operation: THAILAND Countries of Operation: SEA Operate: SEA About: Yulgang 2 is the sequel of the hit About: Developed using highly About: World in Audition is the latest MMORPG Yulgang, which is based on acclaimed Crytek engine, Cabal 2 is the iteration of casual rhytmn-dance popular Korean manhwa (comic) series highly anticipated sequel to Cabal, one online game, Audition Online, another by Jeon Geuk-Jin and Yang Jae Hyun. of Asiasoft's megahit in Thailand, hit published by Asiasoft in the region. Singapore and Malaysia.

Page 31 2014/3/3 DistributionAgenda

Type: MMORPG Genre: RPG Developer: Blizzard Entertainment Developer: Blizzard Entertainment Launch: 2014 Launch: 2014 Countries of Distribution: Thailand, Countries of Distribution: Thailand, Singapore, Malaysia, Philippines Singapore, Malaysia and Philippines About: Warlords of Draenor is the About: Reaper Of Souls is the upcoming expansion of World of expansion of hit action RPG, Diablo III, Warcraft, which will celebrate its 10th which will feature new single player anniversary this year. chapter, new class (Crusader), new game modes (Adventure) and highly improved game system.

Page 32 2014/3/3 Mobile Games Market SituationAgenda – Market Size Market Size (Daily Revenue) South East “Big 6” Countries USD 200,000 USD 180,000 Official AppStore (iOS + GP) Estimates: USD 160,000 9.6% USD 140,000 USD 120,000 7.7% USD 100,000 8.7% Revenue: USD 80,000 3.6% USD 60,000 21.7% 1.4% 16.6% • ~ US$580k / Day (Estimated) USD 40,000 13.2% 9.3% 0.9% USD 20,000 5.4% • ~ US$17.4m / Month (Derived) USD 0 2.0% • ~ US$212m / Year (Derived) Singapore Malaysia Philippines Thailand Indonesia English Local iOS Google Play Downloads: Market Size (Daily Downloads) • ~ 7.3m / Day (Estimated) 2,500,000 • ~ 219m / Month (Derived) 2,000,000 • ~ 2,664.5m / Year (Derived) 1,500,000 21.3%

1,000,000 17.7% Launching an App in English on iOS + GP 12.2% 12.3% 3.4% 500,000 10.3% in SG, MY, PH will capture an estimated 2.4% 8.7% 4.1% 60% of the SEA Market Revenue Share 0 2.2% 2.9% 2.5% Singapore Malaysia Philippines Thailand Indonesia Vietnam

English Local iOS Google Play Source: AppAnnie, Oct 2013 Daily Estimates. File Ref: Mobile Analytics – SEA Top Genres Page 34 Market Situation –Agenda Top Grossing Takes All

• Market Revenue Split Across Thousands of Apps & Publishers

• Low Ranked Apps suffer from Discovery Problems • As App Discovery is difficult • Those Apps Generate Little Revenue Gross Top 20 Top 50 Top 100 Top 1000 Revenue Apps Apps Apps Apps • Top Ranked Apps Take Singapore USD 78,795 USD 112,341 USD 136,149 USD 182,645 Lion’s Share of Revenue Malaysia USD 64,181 USD 83,067 USD 97,367 USD 127,532 • Top 20: 50% Rev Philippines USD 16,754 USD 21,722 USD 26,265 USD 39,105 • Top 21-50: 15% Rev Thailand USD 77,861 USD 97,694 USD 111,578 USD 141,394 • Top 51-100: 10% Rev Vietnam USD 7,650 USD 9,454 USD 11,016 USD 16,968 Indonesia USD 36,481 USD 46,689 USD 54,692 USD 74,923

Source: AppAnnie, Oct 2013 Daily Estimates. File Ref: Market-Sizing Page 35 RagnarokAgenda on mobile

• Download 3 Million times • Top chart on iOS • Breakeven in 1 month

Mobile content extending from our existing games proven to be a viable model. We’re targeting to launch at least 3 mobile games in FY2014

Page 36 Territory Expansion Asiasoft as preferredAgenda SEA Publisher

• AAA Developers (e.g. Blizzards, S2 Games, SOE, SEGA) understands the value of working with AsiaSoft as the premier SEA Publishers that allow them: • Single window of contact; • Regional marketing and product engagement; • Speed to market.

Page 38 Acquisition ofAgenda Level Up! Inc.

Transaction Details

Purchase Price • Approx. USD 4.2 million (THB 126 million)

Transaction • Purchase of 100% of outstanding shares Structure of Level Up!

Source of Fund • Working Capital of Company

Benefit to AS • Provide immediate market share of The Philippines online game market

Page 39 Company Overview Agenda

 Localized, unified, and branded platform

 Introduced the first MMORPG to the local market Highlights  Published Ragnarok Online – the game that started the online gaming craze in 2003

 Led the local online gaming business with 50+% market share

 41 million registrations ever Gaming  Approximately 1 million active users Community  Publisher of 4 out of the top ten games in the country

 Diverse game portfolio

Complementary  Expertise in content longevity management Strength  Well developed billing and prepaid card service

 Dynamic off-line marketing networks

 Strong relationship with top developers around the world Content sourcing  Capability of identifying suitable games for local market expertise  Elite team with proven track record

Page 40 Philippine Market ProfileAgenda

 The size of the Philippines online game market is estimated to reach $90.5 million in 2016

Internet User Trend Online Gaming Market Forecast

100 100

91

75 75 76 69 62 64

56 50 50 53 49 42 44

Millions 36 36

25 inUSD Millions 25

0 0

2011 2012 2013 2014 2015 2016 2011 2012 2013 2014 2015 2016

Online Gamers Non-Gamer Internet Users MMORPG FPS SNS Page 41 Game in PortfolioAgenda in Philippine ASC Level Up! Audition

Sudden Attack Assault Fire Point Blank

Maple Story Cabal Ran Online AVA

Rohan RO

FCM

Chaos Perfect World Bounty Hound

Eligium Hex Flyff

Page 42 Total Online Entertainment Total OnlineAgenda Entertainment

ASIASOFT a leading digital and online entertainment company in South East Asia with dominating market share in Thailand, Singapore, Malaysia and convening Vietnam, Indonesia and Philippines.

Page 44 Total OnlineAgenda Entertainment

6 Countries m Thailand, Singapore, Malaysia, 124 Vietnam, Indonesia, Philippines

13 years

1 in 7 in South East Asia In Providing Online Entertainment

Page 45 Total OnlineAgenda Entertainment

Game Entertainment Education Other

Cross Platform (Mobile, Tablet, PC, TV) Unified Payment Infrastructure

Cloud Infrastructure TH/SG/MY/PH/VN/ID (124M Registered Users)

Page 46