Our corporate brochure contains an overview of the mobile advertising market and discusses the benefits of partnering with 24MAS for all mobile advertising needs.

1. Mobile Advertising
The 7th global mass medium
24MAS is a mobile advertising and applications
powerhouse specializing in fully-managed
mobile marketing services.

2. Ad-wrapping technology
is the future of
mobile advertising
24 Mobile Advertising Solutions AB
Mobile marketing is fast becoming the most in uential medium in digital commerce
and 24MAS is taking full advantage of the vast opportunities in this space. We enable
our partners to reach and engage consumers wherever they are through our mobile
advertising, mobile publishing and application hosting capabilities. Capitalizing on
mobile’s increasing in uence, we are in a prime position to cater to the growing
demand for monetizing subscriber in uence and opening up new revenue streams.
Our strong presence in emerging markets across the globe allows us to work with
leading industry players to give them superior potential for growth.
24MAS is headquartered in Stockholm, Sweden, with operation centres in Singapore
and Kuala Lumpur; as well as with representation o ces in London and Helsinki.
Business in general
There are now more mobile phones The number of reachable individuals rises Mobile advertising addresses all these needs.
in the world than televisions and every day and business analysts are predicting Ad-enabling mobile content allows for
computers combined and there are even faster growth for mobile advertising. greater success in generating additional and
more mobile Internet users than Even more compelling is that mobile marketing predictable revenue streams. Whether you
PC users. As reported by Mobile is achieving greater ROI than both online and are an operator, media outlet, brand owner
Marketing Watch in March 2010, other digital media. We work with the whole or developer, 24MAS provides the solution to
global investor interest in digital ecosystem of mobile advertising and application fuss-free mobile-enabled resources through
media has surpassed printed media distribution from various forms of reach, our optimized value chain. In the same way,
for the rst time in history. 24MAS interactive ways to engagement and a long we o er a one-stop-shop app store hosting
o ers a turn-key solution to reach, term model for retaining advertising initiatives. solution to ensure business continuity and
engage and achieve high conversion This is possible via a comprehensive technical management of application portals.
rates through a customizable mobile platform, large application portfolio, various
presence. advertising formats and a strong presence for Our decade-long history gives our partners
advertising reach and application distribution the added assurance of our proven expertise
via global publishers. in the industry, which along with our current
expansion paves the way for us to outperform
Given the impact mobile has made, traditional the competitors in the mobile marketing
media companies and brand owners are landscape. Being a liability-free company
looking for their own mobile distribution with healthy cash ow, seasoned management
channels to market their proprietary content. team, well-suited products for the mobile
Similarly, developers are seeking better ways economy, and advanced technology are the
to monetize their apps without compromising key qualities behind 24MAS’s positive
quality. Operators, as always, welcome new business outlook. We are focused on the Asia
partnerships that can raise their ARPU while Paci c and Latin American regions where the
enhancing value for subscribers. products are spot on for the market needs.
1

3. 1. Mobile Advertising 3 Synergetic business
After surveying the mobile advertising business models prevalent in the
industry, 24MAS management graded each of these based on a frame-
work focused on identifying the ones best suited to the scalable and
units of 24MAS:
aggressive growth in multiple markets. The result is our optimized value
chain that o ers the best revenue advantage for all its members.
24MAS goes beyond serving impressions. This means our proprietary and
scalable platform is designed to o er a more rewarding approach to 1. Mobile advertising
monetizing mobile assets. We give operators, brand marketers, develop-
ers and content owners a new media channel to reach their target 2. Mobile publishing
audience. Our complete range of service o erings include mobile
campaign management, ad-funded application store solutions, real-time 3. Managed Services
analytics tools, developer SDK, and user targeting capabilities, all of which
are applicable to all smartphone platforms. (Hosting)
As owners of the ad space and user base, the value of operators in mobile
advertising cannot be overstated. With this in mind, we provide our
partner operators the opportunity to extend their relationship with
subscribers by o ering advertising-enabled games and applications to
maximize engagement and generate new revenue streams. This also
becomes an additional revenue stream to bolster decreasing returns from
the traditional voice, data and SMS. On a larger scale, we can build
operator-branded application stores to provide end-users a centralized
location from which to download games and apps.
One recent study found that parents with young children are more recep-
tive to mobile advertising. To fully bene t from this kind of information, it
is important to understand end-user response to the campaign. 24MAS
provides an online measurement system that presents a clear reporting
and analytics tool to gather data on all critical parameters. We have
designed this tool for quick and easy management of tasks such as
revenue sharing, campaign status, results and technical speci cations
monitoring and reviewing usage patterns.
Any successful marketing campaign must be able to reach consumers
wherever they are and mobile is the one platform that can guarantee this.
Initially, brand marketers were slow to react in relation to bringing their
campaigns to the mobile space. However, times have changed since as
evidenced in a report published by Juniper Research. The company
predicts that ad spending for mobile games will reach $900 million by
2015. It may soon be that what we now wide consider as ‘the third screen’
of advertising will become ‘ rst’.
Applications
Reach, Targeting and Ease
of Use
Advertiser Distribution
Awareness, Mobile Operators,
Engagement and Media and
Sales Online partners
Consumer
Improved experience
and value for free
Con g
su in
lt i n g
System Integration Host
Our mobile advertising ecosystem
24MAS's ecosystem puts the technology, content, and advertisers all in
place from the very beginning to speed up the time it takes for mobile
advertising to go live and establish itself as a new pro t centre.
2

4. Key gures that 2. Mobile Publishing
underscore growth Mobile content uptake continues to soar globally fuelled by the introduction
of new smart devices that enhance the end-user experience. 24MAS’s
potential in mobile mobile publishing service is a one-stop-shop solution that o ers a seamless
means to create, publish, manage and monetize. This is made possible by
advertising our scalable cross-platform mobile architecture where high quality digital
content reaches the widest audience.
We have partnered with media companies, content owners, app developers
and game studios to license content for an extensive application inventory
covering the most popular categories. Through our developers program,
we serve games and apps with the highest paid ads on the market to give
5 Billion mobile subscribers developers better revenue opportunities and have made integration
simpler through our proprietary SDK.
2x as many TV sets Meanwhile, application stores have positively reduced the amount of time
it takes for games and apps to reach user distribution channels. With our
customizable application store solutions, we can re-brand a fully-managed
app portal for any purpose, audience, operator, or advertising campaign.
3x as many Internet users This product eliminates the taxing process of setting up the architecture,
technology and mobile commerce transaction system. Through our
subsidiary hosting services company 24 Solutions, we ensure consistent
4x the number of PCs and continuous service from initial set up to back-end management.
Another valuable way we enable clients to take advantage of the interest in
31% of music dollars spent on mobile is through mobile websites. Currently, there are more mobile
phones than PCs and it is vital to integrate existing online assets into this
mobile music platform. 24MAS can deliver fast set-up of all types of mobile web solutions
that adapts branding and corporate identities into the mobile world. A
mobile website captures the best of the Internet with multi-functional
20% of video gaming software is capabilities of both feature and smartphones.
on mobile
3. Managed Services (Hosting)
Accessibility, security and cost are signi cant factors in the success of
mobile advertising and mobile publishing ventures. Powered by 24
Solutions, our hosting business unit, we o er best in class application
hosting and data storage services that ensure stability amidst ever changing
demands and needs of every client. Our vast expertise and market insight
in this area enable us to achieve optimum data protection, interoperability
between storage functions, and sound management of user data and
inventory.
We carry out continuous system management and monitoring for our
application store hosting service, data storage and protection and
handling of customers’ information and large data volumes. Mission-
critical information is made easily accessible while ensuring that the
storage and distribution processes comply with rigid security standards.
Our mobile hosting unit is looking at steady revenue growth for the
coming years as business becomes more predictable and achieves further
sustainable growth curves for 2011 and beyond.
3

5. Optimized value chain position
24MAS’s biggest competitive edge is the company’s wide reach in emerging
markets across the globe. Our objective is to o er our partners fully
managed Mobile Advertising and Mobile Publishing solutions with
comprehensive Mobile Hosting solutions founded on the industry’s best
practices and an experienced management team.
We can leverage on opportunities to accelerate revenue generation from
an expanding subscriber base while guaranteeing the most value for each
user experience. 24MAS is well-established to surpass its competitors with
our extended o ering. While most of our competitors lack capabilities in
the hosting solutions area of the business, we can boost our advanced
mobile advertising and publishing products with hosting solutions to
increase our competitive margin.
Our technology is designed to maximize
ROI and avoid spam
One of the key design points for 24MAS’s end-user experience is that the
subscribers decide what to look at, when and where. We designed our
solutions to avoid spamming. This is an equally important matter for advertisers
where branding is everything. They will not invest in any media that has a
bad and intrusive reputation that will re ect negatively on their brands. To
address this concern, we have ensured that the pro les of users who use
di erent applications and download content match the business objectives
in the media briefs. This ensures targeted ads and maximized ROI (return on
investment) and, more importantly, subscribers get what they want. Our
research con rms this as the most acceptable way to market on mobile and,
therefore, points to the mobile advertising as the most scalable medium.
Mobile advertising on games
is estimated to reach
$900m by 2015
Source: Juniper Research (January
2011)
4

6. Geographic markets
24MAS’s marketing strategy is to establish industry leadership in
geographic regions characterized by four criteria:
Large population
Excellent infrastructure in place or underway
Continued regional growth expected
Market dominated by a small number of (two to three) large
operators
Markets of strategic importance for mobile advertising as stated by
the media industry
Markets that match the above criteria are primarily the Asia-Pac c
(APAC) and Latin American (Lat Am) regions.
Many subscribers in APAC use their handset instead of a computer. Fixed
broadband connectivity is sparse and mobile networks are expanding.
Also, the handset has become the most common way to access e-mail
and the Internet in this region.
Meanwhile, in India, the handset is replacing not only the PC but also
radios. By using the most popular mobile application in the country, the
subscriber calls a radio station and listens to the broadcast through
loudspeakers hooked up to the mobile telephone.
The 24MAS group o ers turn-key solutions
Thanks to established partnerships with application developers and media houses, the 24MAS group can o er complete
solutions for operators and media companies, as well as on the other side of the equation for the application developers
and content owners. This means that technology, content and advertisers will be in place from the start. This minimizes
the time for the operators to establish mobile advertising as a new pro t center. By o ering the reach of mobile subscrib-
ers of multiple mobile operators to the application developers and content owners they can bene t by accessing mass
market volumes with targeted advertising. Traditionally it has been very di cult for them to get access to many operator
channels. 24MAS can provide them a faster access to reach mobile subscribers in multiple territories.
5

7. MARKET VIEWS OF MOBILE ADVERTISING
Like the Internet ten years ago
Today’s market for mobile applications shows similarities to the Internet
market ten years ago. Development is basically driven by technology
Mobile applications
advancements. Handsets are getting cheaper yet more powerful and data
transmission rates continue to increase. The current 5 billion active mobile
investments estimated
subscriptions present enormous potential for new markets. to be $25B by 2014
People turn to their handsets for a growing number of practical as well as According to Juniper Research,
recreational services. Therefore, the importance of the mobile devices as a 15 February 2010
channel for consumer communication is becoming more and more funda-
mental to any business.
Fee or for free?
Mobile applications can easily be downloaded from the Internet directly into
the handset. Consumers in the western world, however, prefer to view adver-
tising in exchange for free mobile content services.
The combination of a growing demand but a reluctance to pay for content
services among consumers creates welcome opportunities for advertising
funded applications, games etc. Through this model, consumers are given the
choice whether to pay for the service or to access it free with advertising.
6

8. Trends
Today, any commercial message Operators see increasing network tra c
posted on the Internet can be Mobile operators are looking positively at the anticipated increase in
delivered to any mobile device. tra c volumes due to mobile advertising’s rapid growth. At the same
time, this development is dependent on the availability of applications
The demand for and technical platforms required to combine the commercial messages
mobile with content, such as practical services, games, movies, music or interac-
tive information.
advertising
space is growing! Going from minutes to xed rates
Whereas they previously charged by mere call minutes, most mobile
operators today o er xed-priced subscriptions that include both voice
and data services.
This varies regionally depending on the available infrastructure and
related billing systems. GDP is also a relevant factor for each of these
territories. This gives 24MAS an opportunity to o er di erent advertising
funded services in di erent countries.
Advertisers want to target speci c consumer pro les
Advertisers often look for ways to concentrate campaign resources on
strategic target groups and welcome the opportunity to maximize opera-
tors’ subscriber knowledge. Previous mobile advertising campaigns,
limited to a broadly distributed text message, now consist of a full-screen,
individually designed ad sent only to subscribers matching a predeter-
mined pro le.
Hence, the biggest advantage of mobile advertising is the option of
targeting. By targeting consumers, end-users can receive relevant adver-
tisements directed to them personally. Advertisers can choose to target a
speci c demographic group deciding on sex, age and location or even
other targeting options such as positioning. Positioning is a revolutionary
approach to marketing and advertising wherein relevant advertisements
are given an entirely di erent meaning.
Mobile advertising grows despite the economic
downturn
Advertising revenue has always closely followed economic trends. The
economic slowdown has been and will be challenging for the advertising
industry as a whole but new avenues like Internet and mobile platforms
are more dynamic. We have seen a market allocation shift from traditional
formats to digital; the economic downturn has indeed a ected mobile
advertising but not in a negative way. Because advertisers have less
money to invest, they are more interested in smaller sized campaigns. This
has driven them to try out this new format which allows them to target
speci c audiences far more e ectively than traditional media methods.
Although there has been talk about this new format being expensive in a
CPM/cost-per-thousand point-of-view, user targeting that allows adver-
tisers to reach their speci c audiences still equates to cheaper campaign
and more measurable results overall.
7

9. COMPETITIVE ADVANTAGES OF 24MAS
Top 10 reasons why 24MAS will perform well in the market in the future:
1 Mobile is the largest media channel in sion rates on mobile advertising are superior to online adver-
tising. This is the reason why 24MAS can succeed in mobile
EMERGING MARKETS advertising; the company has the clear advantage of having
strong relationships with mobile operators, which gives
24MAS is focusing on the Emerging Markets strategy. The advertisers even better results.
company has a clear management focus to conquer the
Asia Paci c region and Latin America. These regions are
recognized to be of high interest to advertisers due to the 4
large population per country. If you look at the Emerging BIGGER BUDGETS allocated to Mobile
Markets in general, it is highly evident how the mobile Advertising channel
device is the most important communication tool. Many of
the Emerging Markets do not have su cient infrastructure From traditional digital advertising budgeting point of view,
for the xed line telephone systems or Internet so the the proportional winner is clearly mobile advertising. Even
mobile phone is the sole device people use to access the though the popularity of new media channels in general are
Internet. still on the rise compared to more traditional media channels,
mobile is already taking a lion’s share of budget allocations.
2 Growth in VOLUME of ad impressions And even though overall investments in terms of hard cash
are still much lower than online, the percentage of growth for
AAd impressions served by the largest advertising digital media budgets gives mobile advertising a very
networks in the mobile sector have been mind blowing: positive short-term and long-term outlook for the future.
billions of ad impressions per month. These numbers show Bigger budgets mean that consumer reach becomes even
that there is big business in mobile advertising. Logically more important. This is, again, where 24MAS can demon-
speaking, this is only natural since most of the consumers strate its strong position in the value chain.
advertisers are targeting have mobile phones. There are
more mobile phones than TV sets, computers, other
devices or access points put together to reach the largest 5 WELL MANAGED COMPANIES in the
possible amount of eye balls. sector with proper experience and vision
The technology 24MAS has gives leverage to both advertis-
ers looking to reach more eye balls and mobile operators Due to rapid development in the mobile sector from the past
looking at nding new revenue streams. decade, there are lots of companies that rose sky-high only to
plummet in their subsequent business models, market
entries, management choices and product o ering. Many
companies that have survived the past year’s telecom indus-
3 Mobile Advertising is delivering try recession are on their way to a thriving future. Since the
RESULTS telecoms industry has always been a world of fast-changing
technology and related business models, there are
Since the early stages of mobile marketing, which was enormously high levels of experience and management
mainly project-driven business for the service providers, it skills in well-performing companies. If we look at the
was obvious to everyone how data and reporting on the traditional advertising industry, it has not been as lively and
mobile channel was very good and accurate. After moving technology developments have been somewhat less
on to a proper scalable advertising stage, the campaign advanced. Combining the talent in mobile technology with
related statistics and gures are more outstanding than any the user reach capabilities of the mobile operators and digital
other media channel. The click-through rates and conver- advertising outlook with the advertisers’ vision to reach
8

10. mobile phone users with targeted advertising—it all looks how the mobile content business is presented, priced, format-
very exciting. ted and delivered to the mass market. This probably is one of
the main changes in the mobile business since the initial forms
The management of 24MAS has seen the early stages of of the walled-garden style operator portals were launched
content download services in the 1990s, the past ten years some years ago. This change has generated a lot of awareness
in the hosting business, the dawn of new media, and, and interest to mobile phone users who have never down-
nally, the growth of the mobile advertising and applica- loaded any
tions economy. Lessons from the past and visions for the content before from their operator content portal. Our history in
future are well in the minds of the senior management of the hosting business makes us, quite possibly, the best-suited
24MAS. company for the mobile applications era in the current market
development. This keeps us ahead of the competitors as we
have been in the content management and serving business for
6 Mainstream HOUSEHOLD BRANDS are more than a decade.
entering the sector
When mobile advertising started, most advertisers were 9 VIDEO ADVERTISING is gaining ground
typical content owners who wanted to grab more users
from the content download subscriber base. This fuelled a Mobile advertising has advance its humble beginnings as text
bit more content revenue for those companies courageous message ads to becoming full-display media, there is huge
enough to put additional investments into banners and expectation that video advertising will shoot up soon as well.
text campaigns. Today, big household brands are the Already, analysts are counting on the importance of video
biggest advertisers, which means that the mobile advertis- advertising, expecting it to gain the most ground over all other
ing industry is considered “trustworthy” and pro table. This mobile advertising formats. This, too, shall come naturally since
will encourage media planners and buyers, ad agencies, any actual ad placed in the mobile device in its richest format,
media companies and brands themselves to make their like video, will achieve maximum results due to a richer user
clients aware that digital advertising budgets should have experience. Our development hub in Kuala Lumpur has been
allocation for mobile advertising as one of its key elements. working on future advertising formats and products. 24MAS
The reason for the mainstream brands coming into the has a strategic position as we can collaborate on future possibili-
sector is very simple: better targeted advertising and ties with our mobile operator partners. This is a key advantage in
massive user reach opportunities. 24MAS can serve these testing future products.
needs very well owing to our strategy in the Emerging
Markets and the technology we harness to enable advertis-
ers to reach more users. 10 Everybody has a MOBILE PHONE and
ADVERTISING is never going to stop
7 Google, Apple, Yahoo!, Microsoft... Basically, everyone has a mobile phone, and advertising will not
RECENT M&A ACTIVITIES cease existence. Combine these two simple facts and you’ll
arrive at 24MAS’s value proposition. Emerging markets o er a
huge growth potential for both mobile content and mobile
Seen in the past couple of years, the above-mentioned big advertising. More often than not, GDP is lower in these markets
companies have been acquiring small mobile advertising than in their western counterparts; free content to the mass
companies across the value chain. Most notable are the market is well-received and generates high interest. Therefore,
recent M&A transactions such as Google buying AdMob for 24MAS is well positioned in the marketplace with great product
US$750 million and Apple buying Quattro Wireless for o erings and the right choice of the geographical targets. At the
US$275 million. This shows how valuable the mobile adver- end of the day, it’s up to the consumer to decide what to down-
tising sector has become and we will see more companies load. What we are doing is to ad-enable their choice of apps or
change their business models and acquire skills and content, making it targeted and valuable. Our distribution
technology to go after this untapped opportunity. 24MAS model is sharp contrast from pushing random banners or o ers
has entered into the IPO process and are open to possible because we are sure our ads are distributed to people whose
M&A opportunities that might transpire through this. We interest pro les we know. We have a great position in the indus-
know that the core of the company is very strong try, and the development of the business is predicted to be
compared to many of the recent acquisitions. The company remarkable all over the world. All the above mentioned points
has great geographical market focus, a solid management add up to a very positive looking future for the company.
team with a long history of building successful companies,
positive cash ow, products that are hard to beat, superior
technology, a supportive and skilled Board and right timing
for either public listing or trade sale.
8 Increased consumption of MOBILE
APPLICATIONS
The launch of the Apple AppStore has generated massive
consumer application downloads. It has certainly changed
9

11. Reasons to believe
Mobile is the largest
media channel in
Emerging Markets
Increased
consumption Response rates are
towards mobile Apps superior on Mobile
Adspend on mobile is
Number of Ad
increasing as its role in
Impressions served
digital marketing grows
Major global brands Mobile advertising
have taken to mobile technology
advertising in a big way has advanced
Mobile advertising is Video advertising is
delivering results gaining traction
Google, Apple, Yahoo!
and Microsoft have
entered the market
10

12. Global Footprint of Mobile Operators
11

13. Main o ce
Stockholm
24 Mobile Advertising Solutions AB
Hastholmsvagen 28, 5th Floor,
S131 30 Nacka,
Sweden
. Singap
Phone +46 8 535 24 100
ore
Telefax +46 8 535 24 199
www.24mas.com
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