Company any Presenta sentation tion – Feb 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 20 2015 Perf rform ormanc ance Re Recap cap & Re Recent cent Upda dates tes Mino nor Ho Hotel tel Minor nor Foo ood Mino nor Re Retail ail Cor orpor porate te Informa ormation tion
201 015 Performance ormance Recap & Re Recent ent Upda pdate tes The Milton Brisbane
CONTINUED GROWTH WITH DIVERSIFICATION MINT reported 2015 net profit of THB 7.0 billion, a 60% increase, primarily from the robust performance of hospitality business, together with gains from revaluation of investments in a total of THB 2,335 million relating to the acquisitions of Sun International hotels in Africa, Oaks Elan Darwin and Minor DKL in Australia in 2015. Excluding such gains, 2015 core net profit increased by 9%. REVENUES +21% y-y THB million Excl extra gains +15% y-y 50,000 48,149 39,787 40,000 30,000 20,000 2014 Hotel & Mixed-Use Restaurant Retail Trading 2015 NET PROFIT +60% y-y THB million Excl extra gains +9% y-y 8,000 7,040 6,000 4,402 4,000 2,000 0 2014 Hotel & Mixed-Use Restaurant Retail Trading 2015 5 2015 Performance Recap
INTERNATIONAL PRESENCE With solid diversification strategy, MINT’s presence was in 32 countries at the end of 2015 across its hospitality and restau rant businesses. REVENUE CONTRIBUTION 100% Hotel & Spa 13% 43% 44% 75% 50% Restaurant International Thailand 50% Combination 87% 57% 56% 25% 50% 0% 2008 2014 2015 2020F * Excludes special gains MINT’s Footprint 6
COMPLETION OF THE FINAL STAGE OF TIVOLI HOTELS & RESORTS ACQUISITION MINT continues to invest in its future, poised for solid growth going forward. Name Country Stars Rooms Acquired in 2015 • The investment: 1. Tivoli Sao Paulo Sao Paulo, Brazil 5 220 2. Tivoli Ecoresort Praia do Forte Bahia, Brazil 5 287 ‐ Euro 294.2 million (THB 11.5 billion) for the entire portfolio of 14 hotels; the largest-ever hospitality transaction in Portugal 3. Tivoli Lisboa Lisbon, Portugal 5 306 ‐ Total of 14 hotels, of which 12 are in Portugal and 2 are in Brazil, 4. Tivoli Marina Vilamoura Algarve, Portugal 5 383 totaling 2,982 rooms 5. Tivoli Marina Portimão Algarve, Portugal 4 196 ‐ Hotel operating platform and Tivoli Hotels & Resorts brand for 6. Tivoli Carvoeiro Algarve, Portugal 4 293 both Portugal and Brazil 7. Tivoli Oriente Lisbon, Portugal 4 279 • Size & valuation (entire portfolio): No. of rooms acquired in 2015 1,964 ‐ 9.6x EV/EBITDA multiple, a highly attractive valuation for well- located assets in a strong European market Acquired in February 2016 ‐ Revenue of Euro 121 million and normalized EBITDA of Euro 31 8. Tivoli Victoria Algarve, Portugal 5 280 million in 2015, which will further strengthen MINT’s earnings 9. Tivoli Palácio de Seteais Lisbon, Portugal 5 30 growth and diversification 10. Tivoli Jardim Lisbon, Portugal 4 119 • Plans going forward: 11. Tivoli Lagos Algarve, Portugal 4 324 ‐ The brand, with its heritage of over 80 years, will be kept 12. Tivoli Sintra Lisbon, Portugal 4 77 ‐ MINT will invest further in the Tivoli hotel assets to further 13. Tivoli Coimbra Coimbra, Portugal 4 100 enhance the positioning of the brand across its markets 14. The Residences at Victoria ‐ Tivoli will be used as platform for further expansion in the regions Algarve, Portugal 5 88 Golf Club (managed) No. of rooms acquired in 2016 1,018 Total Portfolio 2,982 7 Recent Development
COMPLETION OF THE FINAL STAGE OF TIVOLI HOTELS & RESORTS ACQUISITION (Cont’d) In the first stage post-acquisition, MINT plans to renovate four Tivoli hotels to further enhance the positioning of the brand: Tivoli Oriente, Tivoli Lisboa and Tivoli Marina Vilamoura in Portugal and Tivoli Sao Paulo – Mofarrej in Brazil. Portugal Tivoli Coimbra (100 Rooms) Tivoli Sintra (77 Rooms) Tivoli Ecoresort Praia do Forte (287 Rooms) Coimbra Brazil Tivoli Palácio de Seteais Tivoli Oriente Lisbon Tivoli Marina Vilamoura (30 Rooms) (279 Rooms) Bahia (383 Rooms) Sao Paulo Algarve Tivoli Jardim Tivoli Lisboa The Residences at Victoria (119 Rooms) (306 Rooms) Golf Club (88 Rooms) Tivoli Sao Paulo - Mofarrej Tivoli Lagos Tivoli Carvoeiro Tivoli Victoria Tivoli Marina Portimão (220 Rooms) (324 Rooms) (293 Rooms) (280 Rooms) (196 Rooms) Acquired in 2015 Acquired in 2016 8 Recent Development
KEY DRIVERS OF 2016 AND BEYOND – MINOR HOTEL Tivoli Renovation & Residential Anantara African Portfolio Integration New Rooms Projects Vacation Club Renovations Completed & The Residences by Building Stronger Pipeline Leverage MINT’s Expertise Ready for 2016 Anantara, Layan, Phuket of New Properties to Enhance Growth • Construction of 8 units • Adding over 30% of new • MINT’s platform and • Anantara Siam Bangkok (1 st phase) completed; all 15 to be inventories: capability to help done within 2016 enhance potential - Anantara Mai Khao • Anantara Hua Hin Integration of Tivoli Brand contribution from: • 3 units sold in 2015 - Anantara Chiang Mai and Operating Platform • Anantara Dhigu Maldives - Sun International Service Suites Anantara Chiang Mai • Earnings enhancement - Elewana Collection Serviced Suites - AVANI Riverside through consolidation of Bangkok - Mozambique • Completion in 2016 entire Tivoli portfolio • Build /acquire more villas • 30 units presold • Leverage on Tivoli in key locations (e.g. • Transfer expected to footprints to expand Samui, Bali, China, etc) start in 2Q16 Oaks MINT’s operations in Building Sustainable & Europe and South Torres Rani Mixed-Use Profitable Platform Key Additions in 2016 America Project in Maputo • Pricing scheme Capitalize on Oaks’ Solid • AVANI Riverside • Look for opportunity to • Completion in 2Q16 restructuring resulted in: Brand and Platform Bangkok: 249 rooms in expand Tivoli brand • 2 residential units • Further improve sales & 2Q16 - shortened installment elsewhere in the world presold period marketing platform (i.e. • Anantara Kalutara, Sri Pipeline Beyond 2016 reservation /call center) - higher cash position Lanka: 141 rooms in mid- • to enhance customer Anantara Desaru, - Lower bad debts in 2016 experience Malaysia longer term • Explore asset investment • Anantara Ubud, • Diversify customer base opportunities both within Indonesia through more active home base and overseas marketing efforts 2016 and Beyond 9
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