2018 Annual Shareholder Meeting

The Chairman's address and the presentation at the 2017 annual shareholders meeting for Vista Group International are attached. The text of the Chairman's address is shown in full below: Chairman's Address Before moving to the formal business of today's meeting, I would like to comment on some of the Group's activities and achievements of the last 12 months. I am delighted that the Vista team have delivered another very strong performance across a number of the key areas and the financial results reflected another year of 20%+ revenue growth - our fourth consecutive year of doing so. It is great to see our revenue growth past the $100m mark. As pleasing as the revenue growth has been, a year of record profitability resulted in a 57% increase in operating profit and a significant 104% improvement in cashflow. This enabled us to declare a fully imputed dividend 28% up on the prior year. This is at the top of our policy range reflecting our confidence in the business and the desire to reward shareholders. Our balance sheet remains extremely strong which positions us well for internal and external growth opportunities. Some key things from my perspective: State of industry - the cinema business is strong with box office records being broken, new screens being built in underdeveloped markets and existing markets using new data driven technologies to drive their business Resources - We have a talented global team dedicated to delivering value and service to our customers, in nearly 100 countries. Vista cinema - is a strong global business with significant growth opportunities Movio - is beginning to deliver on the promise of reshaping the film industry marketing landscape - and with the potential to overtake Vista Cinema as the biggest group company China - we have increased our position in a potentially significant growth engine - significant for both Vista Cinema and the other group companies. Innovation - we continue to invest in new ventures - ventures where potential rewards are significant, but difficult to quantify. I would like to acknowledge our important strategic business partners and investing founders throughout the world who continue to play a very important role in facilitating global growth. We constantly review and assess these arrangements in line with our long-term strategy of maintaining controlling positions in all our businesses. Two such examples of this are: o Senda - the acquisition of our long-standing business partner in Mexico improves our influence and profitability in the fast-growing South American region, with substantial growth forecast from Brazil and other markets. o China - we increased our equity stake and facilitated the consolidation of the Vista China results. This will provide transparency and earnings growth on what will be the largest cinema market in the world going forward. In January we announced an important executive change with Kimbal Riley taking over the Group CEO role from our Founder, Murray Holdaway, who will move into a key role of Chief Product Officer. Kimbal has a long and successful career in the IT and Services industries in New Zealand and overseas. His four years at Vista Group as the CEO of our largest business, Vista Entertainment Solutions, have been outstanding, judged both in terms of financial performance as well as his broader leadership qualities. Murray co-founded Vista in 1996 and has been the key driver of its success and culture. Murray's passion has always been centred on product innovation and customer service and this new role will enable him to have the freedom of mind to focus on the area where he has traditionally provided the greatest value. This is core to the Group's success, the heart and soul of what we do. This is without doubt a case of 1+1=3 and I look forward with great enthusiasm to working with Kimbal and Murray in their new roles. The years ahead look exciting - the cinema industry is growing significantly in many markets and becoming increasingly sophisticated in others. Both these attributes require superior software solutions, for which we are recognised as the global leader. Our goal is to maximise those opportunities and in doing so to build an even stronger company that delivers superior returns to our shareholders. There is no doubt we have the executive talent (in quality and depth) to achieve this goal particularly given the tremendous growth prospects we see going forward. End CA:00318382 For:VGL Type:GENERAL Time:2018-05-24 08:30:41