Compa pany ny Presenta sentation tion May ay 2016 FORWARD - PowerPoint PPT Presentation

Compa pany ny Presenta sentation tion – May ay 2016

FORWARD LOOKING STATEMENT Statements included or incorporated in these materials that use the words "believe", "anticipate", "estimate", "target", or "hope", or that otherwise relate to objectives, strategies, plans, intentions, beliefs or expectations or that have been constructed as statements as to future performance or events, are "forward-looking statements" within the meaning are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated at the time the forward-looking statements are made. MINT undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. MINT makes no representation whatsoever about the opinion or statements of any analyst or other third party. MINT does not monitor or control the content of third party opinions or statements and does not endorse or accept any responsibility for the content or the use of any such opinion or statement. Disclaimer 2

Ag Agenda enda 1Q 1Q16 Perf rformance ormance Re Recap ap & Re Recent cent Upda dates tes Minor nor Ho Hotel tel Mino nor Foo ood Mino nor Re Retail ail Cor orpor porate te Informa ormation tion

1Q1 Q16 Perf rforma ormanc nce Recap & Recent nt Upd pdate tes

CONTINUED GROWTH WITH DIVERSIFICATION MINT reported 1Q16 net profit of THB 3.6 billion, a 66% increase y-y, primarily from the robust performance of Minor Hotel and Minor Food, together with the gain from revaluation of Tivoli of THB 1,932 million, which demonstrated MINT’s M&A capabilitie s. Excluding such gain in 1Q16 and gain from revaluation of Sun International hotels in 1Q15, 1Q16 net profit from operation increased by 9% y-y. REVENUES +30% y-y THB million Excl special gains +21% y-y 15,846 16,000 12,143 12,000 8,000 4,000 1Q15 Minor Hotel Minor Food Minor Retail Special Gains 1Q16 15,846 NET PROFIT +66% y-y THB million Excl special gains +9% y-y 4,000 3,575 3,000 2,157 2,000 1,000 0 1Q15 Minor Hotel Minor Food Minor Retail Special Gains 1Q16 5 1Q16 Performance Recap

INTERNATIONAL PRESENCE With solid diversification strategy, MINT’s presence was in 32 countries at the end of 1Q16 across its hospitality and restau rant businesses. REVENUE CONTRIBUTION 100% Hotel & Spa 13% 44% 44% 75% 50% Restaurant International Thailand 50% Combination 87% 56% 56% 25% 50% 0% 2008 2015 1Q16 2020F * Excludes special gains MINT’s Footprint 6

ADDITIONAL INVESTMENT IN HOTEL PORTFOLIO IN AFRICA • The Investment − MINT will increase its shareholding in the hotel portfolio in Africa by acquiring additional stake from Sun International − Total investment amount (for both existing investment and the additional shareholding) is ZAR 1,020.8 million (THB 2.7 billion) Royal Livingstone by Anantara AVANI Victoria Falls Tranche Timing of Completion Investment Amount Tranche 1 Completed at end of 2014 ZAR 590.1 million Tranche 2 To be completed in 2016-2017 ZAR 430.7 million − The assets include 8 properties with over 1,300 rooms across 5 countries Name Country Rooms Current New Timeline of Shareholding Shareholding Tranche 2 (Tranche 1) (Tranche 1+2) Investment AVANI Gaborone 1. Royal Livingstone by Anantara Zambia 173 50% 100% 2Q16 2. AVANI Victoria Falls Zambia 212 50% 100% 2Q16 3. AVANI Lesotho Lesotho 158 37.5% 46.9% 2Q16 4. AVANI Maseru Lesotho 105 37.5% 46.9% 2Q16 5. AVANI Gaborone Botswana 196 64% 80% 3Q16 Zambia 6. AVANI Windhoek Namibia 173 80% 100% 3Q16 7. Royal Swazi Spa Swaziland 149 - 50.6% 2H17 onwards Botswana Royal Swazi Spa Namibia Swaziland 8. Lugogo Sun Swaziland 202 - 50.6% 2H17 onwards Total Portfolio 1,368 Lesotho • Investment Rationales AVANI Windhoek − This strategic investment follows MINT’s initial acquisition of 6 hotels under the Sun International portfolio in Africa in December 2014 Lugogo Sun − The additional investment will solidify MINT’s presence in Africa and allow it to fully capitalize on the long-term potential of the region − The portfolio will further benefit from MINT’s global operating platform, as well as its robust sales and marketing network to strengthen AVANI Lesotho AVANI Maseru performance going forward Investment Update 7

INVESTMENT REVIEWS MINT’s past investments have delivered superior returns, highlighting MINT’s M&A capabilities to drive value creation from it s strategic investments. Oaks Minor DKL The Investment The Investment  Initial investment of AUD 84.5  Initial investment of AUD 23 million in million in 2011 2008  Payback period: ~3 years  Payback period: ~5 years  Project IRR > 15%  Project IRR > 25% Revenues Revenues AUD Million AUD Million CAGR CAGR 120 10% 24% 200 80 100 40 0 0 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015  Added >20 properties and >1,500 rooms under Oaks brand within 4  Expanded from a single brand at acquisition to a portfolio of 6 brands years today  Diversified Oaks brand outside its home country to Asia and Middle  Grew number of outlets by over 60% over the past five years East  Increased international footprint to 8 countries across Asia and  Developed new product offerings under Oaks brand – from MLRs to Oceania traditional hotel management Investment Reviews 8

Minor or Hote otel Anantara Peace Haven Tangalle Sri Lanka

FINANCIAL PERFORMANCE – MINOR HOTEL 1Q16 core revenues of hotel & mixed-use business (excluding special gains) grew by 18% y-y, as a result of improving owned hotels operations, addition of newly acquired hotels, Oaks, management contracts and sale of residential development villas. 1Q16 core EBITDA increased by 24% because of increased operating leverage of owned hotels and higher-profitability residential sales. Net profit increased by 10%, lower than increase in revenues, because of increase in depreciation and effective tax rates in 1Q16. Key Highlights THB million +18% y-y Owned hotels Core revenue grew by 25% y-y on the back of 7,108 7,109 1Q16 increase in organic RevPar excl FX 55% 6,002 5,681 impact of 5% y-y, together with the 4,842 of 1Q16 hospitality incremental revenue from the newly Revenue revenues acquired hotels (system-wide RevPar -24%). Oaks 1Q16 revenue increased by 8% y-y, in line +24% y-y with the RevPar increase of 9% both in THB 20% term and AUD term. 2,218 2,175 of 1Q16 hospitality 1,751 revenues 1,267 EBITDA 910 Management contracts Revenue increased by 12% y-y, primarily EBITDA 29.2% 18.8% 22.3% 31.2% 30.6% attributable to hotels in Thailand and the Margin 4% Middle East. 1Q16 system-wide RevPar of 1Q16 hospitality increased by 8% (organic RevPar +9%). +10% y-y revenues 1,270 1,124 1,026 NPAT Real estate 484 1Q16 revenue increased by 20% y-y with the 229 18% continued sales momentum of The Net 17.1% 4.7% 8.5% 17.9% 15.8% Residences by Anantara, Layan, Phuket. of 1Q16 hospitality Margin revenues 1Q15 2Q15 3Q15 4Q15 1Q16 * The financials above reflect performance from operations, and therefore excludes special gains from revaluation of investments in Sun International hotels of THB 650 million in 1Q15, Oaks Elan Darwin of THB 20 million in 3Q15 and 4Q15, and Tivoli of THB 1,932 million in 1Q16. Minor Hotel 10

MINOR HOTEL - INTERNATIONAL PRESENCE In recent years, MINT has implemented a solid diversification strategy. At the end of 1Q16, MINT operates hotels and spas under a combination of investment, joint-venture and management business models in 24 countries, with another 7 countries in the pipeline over the next three years. REVENUE CONTRIBUTION 100% 6% 75% 55% International 59% 66% Thailand 50% 94% 25% 45% 41% 34% 0% 2008 2015 1Q16 2020F * Excludes special gains Investment Management Combination New Destinations in Pipeline Hubs Minor Hotel 11

SYSTEM-WIDE HOTEL OPERATIONS 1Q16 system-wide RevPar decreased by 2% y-y as a result of the addition of new hotels, i.e. the Tivoli portfolio in Portugal. In addition, the RevPar is also impacted by the low season of the Portuguese hotels portfolio. Excluding new hotels and foreign exchange impact, 1Q16 organic RevPar increased by 6% y- y, attributable to increase in Thailand hotels’ RevPar of 10% and Oaks’ RevPar of 9%. NUMBER OF HOTEL ROOMS ADR Organic excl FX Impact No of Rooms +13% y-y +4% y-y 19,006 20,000 THB 17,714 +1% y-y 16,872 17,076 16,774 8,000 15,000 6,359 6,431 MLR / Oaks 6,306 6,000 5,245 10,000 5,367 Managed Joint-venture 5,000 4,000 Owned 0 2,000 1Q15 2Q15 3Q15 4Q15 1Q16 1Q15 2Q15 3Q15 4Q15 1Q16 OCCUPANCY REVPAR Organic Organic excl FX Impact 90% +1% y-y THB +6% y-y -2% y-y -2% y-y 80% 5,000 4,431 4,337 4,335 70% 69% 69% 67% 4,000 3,678 70% 65% 3,409 3,000 60% 2,000 50% 1,000 1Q15 2Q15 3Q15 4Q15 1Q16 1Q15 2Q15 3Q15 4Q15 1Q16 Minor Hotel 12