As the new financial year FY25 unfolds, Astro Malaysia Holdings Berhad (Astro) marks the end of its first quarter (Q1FY25) by deepening its transformative journey. With renewed dedication, Astro has been crafting richer experiences for its customers, strengthening its content lineup, and ensuring every customer interaction brings satisfaction and joy.

Creating Value for Customers

Astro is steadfast in its mission to create unparalleled value for its customers. The launch
of Rakyat-friendly packs, which now include TVB and Liga Malaysia in the base tier
Primary Pack, exemplifies this commitment. By making these enhancements, Astro aims
to provide more affordable options, attract new customers, and broaden its reach.
This initiative is already showing early success, with the onboarding of new customers
increasing by 20% q-o-q. This period also saw the highest signups of Chinese content
packs in the last four years, attesting to the appeal of Astro’s new offerings.

In addition, Astro’s streaming service, sooka, is breaking new ground in accessibility and
convenience, and has now added the sooka TV Stick. Through strategic partnerships with
leading brands such as Maxis, Hotlink, Umobile, CelcomDigi, Haier, LG, Hisense, Toshiba,
Touch ‘n Go, Zalora, and Tealive, sooka saw significant rise in monthly average users
(MAU) which increased by 28% with over 1mn and an 86% y-o-y rise in paying customers.
sooka’s exclusive position as Malaysia’s only streaming app with comprehensive live
sports coverage, including EURO2024, sets it apart. This offering allows all Malaysians to
enjoy one of the year’s most anticipated football events, further solidifying sooka’s
presence in the market.

Astro Fibre is experiencing a robust 15% growth rate y-o-y. The performance is fuelled by
high customer satisfaction with its 'WiFi Kencang' service and the impressive impact of
steady word-of-mouth referrals proving that customers are not just using the service but
are also sharing their positive experiences, thus driving growth.

Elsewhere, advertising revenues have seen significant downward pressure with several
key clients having reduced spend in the quarter. The Raya period was especially muted
on both TV & Radio, as clients opted for caution. Despite this market dynamic, Addressable
Advertising, which brings digital-style targeting to TV and OTT, is on a promising
trajectory as revenue tripled y-o-y. This innovative approach showcases the effectiveness
of personalised advertising in capturing the attention of viewers and delivering
measurable results for advertisers.

To further enhance our marketing and advertising strength, we are pleased to announce
the appointment of Prashant Kumar as a new Independent Non-Executive Director,
effective 1 July 2024. Prashant is a leading market futurist and digital maven in the AsiaPacific region. He is the founder of Entropia and served as the President of IPG Mediabrands Asia.

Strengthening Content Offering

Astro has been collaborating closely with local producers, creating more job opportunities
whilst also championing local talent thus ensuring that the stories we tell resonate deeply
with Malaysian audiences. This goes beyond mere entertainment, with engaging
storytelling that reflects positive cultural values and important narratives aimed at
imparting lasting impact on its viewers.

One such success story is KHUN:SA, a drama that captivated audiences with its talented
cast and compelling storyline on the social stigma of hermaphrodites in the local community. Garnering 6.0mn TV viewers and a combined 5.0mn streams On Demand and on Astro GO, KHUN:SA received rave reviews from both critics and fans.

Another triumph for Astro is Takdir Itu Milik Aku, an inspiring novel adaptation that delves
into the resilient journey of a woman overcoming marital infidelity, constant humiliation,
and ruthless challenges. This drama has become a cornerstone of Astro’s programming,
captivating audiences with over 7.7 million TV viewers and a combined 7.9mn streams On
Demand and on Astro GO. Its success has made it the top drama during Ramadan and
Raya.

Astro’s commitment to champion growth within the content and media ecosystem is also
evident. Movies like Sheriff and The Experts have driven significant footfall to cinemas
with ticket sales reaching RM77mn at the box office. Upcoming releases such as Gold,
Project Kahar, Malam Terlarang, Baik Punya Ah Long and #DONDUKUN are poised to
continue this trend, drawing support from local moviegoers. On the Sports front, customers
are enjoying all 51 matches of the UEFA Euro 2024 live in HD, alongside the new 2024/25
season of Liga Malaysia, with the Paris 2024 Olympics up next.

Following the accolade for "Best Use of AI in News Reporting" at Digital Media Asia 2024,
Astro AWANI continues to lead in AI integration within its newsroom with the launch of
JIWA: A Guideline for AI Utilisation. This initiative underscores Astro AWANI's commitment to leveraging AI capabilities to deliver high-quality and efficient news writing while upholding journalistic ethics. Astro AWANI has also maintained its reputation as the most trusted news brand in Malaysia, for the seventh consecutive year. According to the Reuters Institute Digital News Report 2023 and the University of Oxford, Astro AWANI
ranked first with 64 percent followed by Radio Televisyen Malaysia (RTM) with a score of 63 percent, while four other news brands shared the third spot with 60 percent are Malaysiakini, Berita Harian, TV3 and TV9.

Beyond creating and promoting content, Astro is actively fighting piracy to protect
livelihoods. From 2023 to May 2024, a total of 260K illegal links from various platforms
including websites, social media platform, mobile chat applications such as Telegram and
e-commerce sites have been removed, safeguarding jobs and the industry’s integrity.
In fact, in Q1FY25, Astro achieved a significant milestone in its partnership with the
Commercial Crime Investigation Department of the Royal Malaysian Police (PDRM). A
landmark operation successfully dismantled a locally operated illegal content server farm,
marking a local first. Astro continues to work closely with other enforcement agencies as
well as regional entities in the ongoing fight against digital piracy.

Affirming Our ESG Efforts

On our ESG front, Astro proudly launched the 2024 edition of the Astro Kem Badminton
(AKB), spanning five locations across Malaysia. With the support of the Badminton
Association of Malaysia (BAM), selected participants now have the unique opportunity
to undergo national-level training. Since its inception, AKB has trained an impressive
21,300 children nationwide.

Revenue Softened with Free Cashflow of RM112mn

Astro navigated a challenging landscape in Q1FY25, especially in relation to advertising
spend. Revenue softened to RM773mn q-o-q. The company reported a normalised
PATAMI of RM25mn, excluding unrealised forex losses on transponder lease liabilities. In
this quarter, the company generated free cash flows of RM112mn and remains proactive
in its capital management.

Euan Smith, Group CEO of Astro remarked: "In FY25, our renewed focus spans three
pillars: Grow New Customers by strengthening content offerings to engage our wider
audience; Strengthen Adjacent Businesses by expanding sooka, Astro Fibre, Astro
Enterprise, and Addressable Advertising, and Reduce Legacy Cost to ensure our products
remain competitively priced against global players.

The launch of Astro Studios heralds an exciting new chapter for us. We're thrilled as this
marks the point where our journey truly takes flight, firmly establishing Malaysia as a hub
for outstanding content creation.

Before my arrival in Malaysia, global discussions about Malaysia as a destination for film
and post-production were scarce. Yet upon arrival, I discovered a vibrant community of
talented individuals producing exceptional work. It feels like a well-kept secret, and I
believe it's time to change that perception.

"Being in Malaysia, I consider myself Malaysian. I am passionate about showcasing our
country's potential, comparing it favourably to global giants like Korea, Poland, and France.

Astro Studios is our platform to build, showcase, and demonstrate what our industry can
achieve.

Our creative expertise and strong ties within the Malaysian ecosystem enable us to
consistently produce hit shows year-round. Our content portfolio spans live signature
events, Astro Originals, dramas, local sports, news, and children's programming.

Our agility is evident in how we quickly adapt to current events, exemplified by initiatives
emphasising humanitarian causes like the Malaysia4Palestine pop-up channel featuring
115 talents from Malaysia, Singapore, and Indonesia, and supported by RTM.

As we enhance our content, we've introduced value-added packs featuring staple content
such as sports and local programming. Additionally, we're making sooka an essential
entertainment companion, accessible on personal devices and televisions with our latest
sooka TV Stick.

With ongoing innovation in both content and technology, we are set to
solidify our position as Malaysia's leading Entertainment and Streaming destination.”

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The press statement is issued by Astro Malaysia Holdings Berhad (Astro)