U CITY PCL A leading, geographically diversified, integrated - PowerPoint PPT Presentation

U CITY PCL A leading, geographically diversified, integrated property developer and investor, “capturing Thailand’s redefining infrastructure landscape”

IR CONTACT Address: U City Public Company Limited IR Department 20 th Floor, TST Tower, 21 Soi Choei Phuang, Viphavadi-Rangsit Rd. Chomphon, Chatuchak, Bangkok, Thailand 10900 Telephone: +66(0) 2273 8838 #2301 Fax: +66(0) 2273 8858 Email: ir@ucity.co.th Website: www.ucity.co.th DISCLAIMER This document has been prepared and distributed by the Investor Relations Department of U City Public Company Limited (“U City”) solely for information purposes. It does not represent or constitute an offer, invitation, recommendation or solicitation to trade shares in U City and should not be relied on as such. Some of the information in this document has not been independently verified, and also includes information made available from public sources and other third party opinion or analyst. U City does not monitor or control the content of third party opinion or statements and does not endorse or accept any responsibility for the content or the use of any such opinion or statements. Thus, U City assumes no responsibility and makes no representations with respect to the accuracy and/or completeness of the information described herein. None of U City or any of its agents, or all of their respective affiliates, or representatives shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document. All information contained in this document is presented as of the date indicated within, and U City assumes no duty to confirm, revise or update the information. Certain statements in this document may be deemed to contain forward-looking statements, including the statements included or incorporated with 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. These forward-looking statements 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. Thus, U City assumes no responsibility and makes no representations with respect to the accuracy and/or completeness of the forward- looking statements. U City undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Prepared by Investor Relations Department 2 U CITY PCL

CONTENTS Section 1 U City in Brief Section 2 Business Profile Section 2.1 Recurring Income Property Business Hospitality Office Section 2.2 Residential Property Business Section 2.3 Land Bank Section 3 Financial Summary Section 4 Future Projects Appendices Prepared by Investor Relations Department 3 U CITY PCL

KEY INVESTMENT FEATURES Following Entire Business Transfer (EBT) of Unicorn Enterprises Limited (UE) The new, 2 nd largest listed hotel company in Thailand with over 18,000 keys, possessing: Geographically diversified hotels in major tourism markets that are • rapidly growing under brands exuding an Asian and European flair Two dynamic and enterprising hotel management platforms that • are mutually complementary, offering strategic flexibility and a springboard for global expansion An integrated property investment strategy that is expected to grow revenues at a CAGR of 14% over the next 5 years by: Combing long-term, diversified, yield accretive recurring income • assets that are segmentally diversified against business cycles and are amplified by a shorter turnaround condominium development for sales business that are predominantly along current and future mass transit lines Benefitting from BTS Group’s strategic partnership as the largest • single shareholder and pre-eminent operator of mass transit lines in Thailand Utilising land bank that is anchored on an extraordinary period of 67% • mass transit expansion in Thailand to benefit from ‘mass transit premium ’ value accretion Land Bank Value Located Near Sustainable expansion with planned gross development value of Currently Operating and Future THB 87.4bn (USD 2.7bn) 1 facilitated by: Mass Transit Lines Solid balance sheet, allowing for opportunistic acquisitions with the • opportunity to securitise asset portfolio for capital recycling and fee-based income from managing property funds/REITS 1 Exchange rate at THB 32.68 per USD as of 24 Nov 2017 Prepared by Investor Relations Department Section 1: U City in Brief 4 U CITY PCL

KEY MILESTONES 2018 Becoming a leading 2017 property investor Acquired a hotel after c onsolidating with 2016 portfolio, the lion’s share of BTS comprising of 24 First geographic 2015 Group’s property pan-European expansion into business under Unicorn hotels, and a hotel • BTS Group Europe by Enterprises (UE), which 1999 - 2013 management became a major acquiring 33 includes a portfolio of platform shareholder Gracechurch, an hotels, hotel Rehabilitation (35.64%) office building in management platform, London, UK 1993 land bank and • Name changed residential projects to Listed on the SET under BTS-Sansiri joint “U City Public ventures. Company 1988 Limited” Company founded Prepared by Investor Relations Department Section 1: U City in Brief 5 U CITY PCL

UNICORN ENTERPRISES TRANSACTION Overview of Assets to be Acquired and Divested 35.64% 100% Hotel Selected Hotel Developing Divestment THAILAND INTERNATIONAL The Unicorn HOTEL Assets • • 24 hotels under Vienna • U Sathorn • U Chiangmai Mo Chit • Anantara Chiang • • U Inchantree Karnchanaburi House & Vienna House Complex Mai Easy Roi Chak • Avani Khon Kaen Office • THAILAND Sam RESIDENTIAL • TST Tower • Eastin Grand Sathorn • Park Ramindra Services Developing Office Land Bank • Park Arun Boulevard • Absolute Hotel Services Eastin Thana City Golf • 33 Gracechurch St. UK Sukhumvit • • • Anantara Serviced • Thana City Golf & Sports Club Resort Bangkok • 6-14 Underwood St. UK Suksawad • Suite • Tanayong Property Management International School Khukot – • • Bang • Service LAND BANK Residential Land Bank Krachao • Nakorn Ratchasrima • Vienna International • 21 BTS-SANSIRI Holding Ratburana • • Charansanitwong Hotel Management (All of “The Line” projects) Khao Yai, Pakchong, • • Chonburi Nakorn Ratchasima Prepared by Investor Relations Department Section 1: U City in Brief 6 U CITY PCL

BUSINESS OVERVIEW Hospitality Focused Portfolio at the Start of a Multi-Year Earnings Expansion RECURRING INCOME PROPERTY Post-UE EBT Operating Revenue (THB mn) 9M 2017 REVENUE CONTRIBUTION Hospitality 40 Hotels totaling 7,550 Keys includes a portfolio of 2,341 Hospitality owned, leased and managed hotels THB 2,341mn in Europe and Asia. Subject to Others 1,027 shareholder approval, EBT of UE, 806 THB 319mn 84.2% THB number of hotels shall expand to 11.5% 89 totaling 18,288 keys 2,779mn Office 2015 2016 9M 2017 Office 12,400 sqm of lettable space THB 119mn comprising of 2 office buildings in 4.3% London, UK. Subject to shareholder 119 approval, EBT of UE shall include 1 63 0 more office building in Thailand * Includes share of profit/loss from Sansiri JV with 16,100 sqm of lettable space 2015 2016 9M 2017 RESIDENTIAL PROPERTY SEPTEMBER 2017 BOOK VALUE BREAKDOWN Operating Revenue (THB mn) Subject to shareholder approval, Hospitality EBT of UE includes acquiring BTS’ THB 21.6bn 50% stake of the BTS-Sansiri JV, 159 which develops condominiums 64.3% Land bank near mass transit lines and has THB 8.0bn currently a presold condominium THB 0 0 backlog of THB 25.7bn 23.8% 33.6bn 2015 2016 9M 2017 LANDBANK Residential Office THB 0.5bn THB 3.5bn Post-UE EBT our land bank totaling THB 7.4bn or 766.1 Rai or 1.23mn sqm is sufficient for over 1.5% 5 years of development. 67% of land bank value is located adjacent to future or current mass 10.4% transit lines and is therefore well- positioned to benefit from the ‘mass transit premium’ Note: figures above are not adjusted for UE transaction Prepared by Investor Relations Department Section 1: U City in Brief 7 U CITY PCL