Company Presentation - Aug 2014 FORWARD LOOKING STATEMENT Statements - - PowerPoint PPT Presentation

Company Presentation - Aug 2014

Anantara Phuket Layan

WRAP Melbourne

2 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.

FORWARD LOOKING STATEMENT

Disclaimer

Agenda

1H14 Performance Recap & Recent Updates Restaurant Business Hotel & Mixed-Use Business Other Important Information

SIFU Hong Kong Master Ribs in Singapore

1H14 Performance Recap

Royal Livingstone Hotel, Zambia Gaborone Sun Hotel & Casino, Botswana Kalahari Sands Hotel & Casino, Namibia Lesotho Sun Hotel & Casino, Lesotho

5

CONTINUED GROWTH WITH DIVERSIFICATION

MINT REPORTED 1H14 NET PROFIT OF THB 2.0 BILLION, AN 11% INCREASE YoY, DEMONSTRATING THE BENEFIT OF MINT’S DIVERSIFICATION AND INTERNATIONAL EXPANSION STRATEGY, AS STRONG PERFORMANCE OF INTERNATIONAL OPERATIONS MITIGATED THE IMPACT OF SLOWDOWN IN TOURIST ARRIVALS AND DOMESTIC CONSUMPTION IN THAILAND. NET PROFIT GROWTH WAS DUE TO BOTH HOSPITALITY AND RESTAURANT BUSINESSES, TOGETHER WITH THE GAIN ON FAIR VALUE ADJUSTMENT OF INVESTMENT IN SERENDIB IN SRI LANKA.

12,000 14,000 16,000 18,000 20,000 1H13 Hotel & Mixed-Use Restaurant Retail Trading 1H14 17,888 19,753 THB Million 1,200 1,400 1,600 1,800 2,000 2,200 1H13 Hotel & Mixed-Use Restaurant Retail Trading 1H14 THB Million 1,838 2,037 +11% YoY +10% YoY

REVENUES NET PROFIT

1H14 Performance Recap

Excl one-time gain +7% YoY

6

INTERNATIONAL PRESENCE

WITH SOLID DIVERSIFICATION STRATEGY, MINT’S PRESENCE IS NOW IN 33 COUNTRIES ACROSS ITS HOSPITALITY AND RESTAURANT BUSINESSES.

MINT’s Footprint

Egypt

Restaurant Combination Hotel

REVENUE CONTRIBUTION

87% 68% 62% 55% 13% 32% 38% 45% 0% 25% 50% 75% 100% 2008 2013 1H14 2018F International Thailand

Restaurant Business

Basil by ThaiExpress in Singapore

8

RECENT UPDATES – RESTAURANT

MINT CONTINUES TO INVEST IN ITS FUTURE, POISED FOR SOLID GROWTH GOING FORWARD.

Restaurants Updates

Invested 50% to operate BreadTalk’s bakery operations in Thailand MINT’s investment size: THB 103 million for the 50% investment BreadTalk Group’s support: as brand owner, and provide technical know-how MINT’s support: its established platform in Thailand, including supply chain management, property management, outlet expansion, franchising and legal support With the combination of BreadTalk’s strong brand recognition and MFG’s profound knowledge of Thailand together with its

• perational excellence and customer service, there is a vast

growth potential for BreadTalk operation in Thailand over the next few years The plan is to actively grow Breadtalk bakery outlets from existing 23 outlets, initially with company-owned business model and later with franchised model The joint-venture is expected to be established by the end of September, after fulfilling the customary conditions precedent Invested 70% in Swensen’s operations in India This resulted in conversion of the existing 4 outlets from franchised to 70%-owned outlets The existing franchisee, Devyani International, maintains the remaining 30% shareholding Opened the first franchised Coffee Club outlets in Bali & Malaysia The two outlets marked The Coffee Club’s entrance into the countries.

9

RECENT UPDATES – CONT’D

MINT CONTINUES TO INVEST IN ITS FUTURE, POISED FOR SOLID GROWTH GOING FORWARD.

Restaurants Updates

Launched “Thai Cuisine Academy” Partnership between three reputable parties:

• MINT
• S&P Syndicate
• Iron Chef Chumpon Jangprai

The Academy will help strengthen the talent pool for restaurants under Minor Food Group, Minor Hotel Group, and others The courses range from one-month to 9-month courses, for both profession and non-professional individuals The school is located in the heart of Thonglor, and is able to graduate over 100 students and professional chefs per year Launched two new concepts under Singapore Hub: SIFU Hong Kong Master Ribs Basil by ThaiExpress The initiative is to respond to the quick change in consumer taste in Singapore and ultimately to increase customer count and

• verall sales

10

Key Highlights

1H14 REVENUE OF THE RESTAURANT BUSINESS INCREASED BY 12% YoY, PRIMARILY FROM THE OUTLET EXPANSION OF 12%. 1H14 NET PROFIT GREW BY 4%, A SMALLER MAGNITUDE THAN REVENUE INCREASE MAINLY AS A RESULT OF CONTRACTION OF DOMESTIC CONSUMPTION WHICH LED TO LOWER OPERATING LEVERAGE AMIDST POLITICAL EVENTS IN 1Q14. NONETHELESS, THAILAND HUB, THE BIGGEST CONTRIBUTER TO THE RESTAURANT BUSINESS, SAW A TURNAROUND IN SAME-STORE-SALES GROWTH AND NORMALIZED MARGINS IN 2Q14.

FINANCIAL PERFORMANCE - RESTAURANT

3,878 3,725 3,742 3,997 4,307 4,230 716 634 648 761 708 725 409 308 323 461 363 379

1H14 total-system-sales exhibited strong growth

• f 10.8%, primarily from the outlet expansion of

12% YoY; Riverside, Burger King and Ribs & Rumps reported total-system-sales growth of over 20% in 1H14; 1H14 same-store-sales was flat YoY. Same-store- sales in 2Q14 was 1.5%, as Thailand Hub witnessed a turnaround amidst improving consumer confidence and consumption, together with new marketing initiatives; Australia Hub reported positive same-store-sales growth, with net profit rising 9% YoY in 1H14; Although Singapore Hub reported negative same- store-sales growth in 1H14, its net profit increased significantly by 37% YoY; China Hub saw improved operational performance YoY in 1H14, driven primarily by strong performance of Riverside; EBITDA & net profit margins declined in 1H14 YoY, attributable to lower operating leverage of Thailand Hub from the negative same-store-sales growth during 1Q14. Nonetheless, EBITDA and net profit margins saw improving trend in 2Q14.

18.5% 10.5% 1Q13 8.3% 2Q13 17.0% 17.3% 8.6% 3Q13 Revenue EBITDA NPAT EBITDA Margin Net Margin THB million +14% YoY +14% YoY 19.0% +23% YoY 11.5% 4Q13 Restaurants Updates 1Q14 16.4% 8.4% 17.1% 2Q14 9.0% 7,603 8,537 1,350 1,433 716 742 +12% YoY +6% YoY +4% YoY 17.8% 16.8% 1H13 9.4% 1H14 8.7%

11

RESTAURANT INTERNATIONAL FOOTPRINT

MINT OPERATES FOUR RESTAURANT HUBS: THAILAND, SINGAPORE, AUSTRALIA AND CHINA. MINT’S RESTAURANT PRESENCE IS NOW IN 20 COUNTRIES ACROSS THE REGION, OPERATING OWNED, FRANCHISED AND A COMBINATION OF BOTH BUSINESS MODELS. MINT CONTINUES TO LOOK FOR OPPORTUNITIES TO EXPAND, ESPECIALLY IN THESE EXISTING MARKETS THAT MINT OPERATES.

Egypt

Franchised Combination Owned 81% 70% 67% 56% 19% 30% 33% 44% 0% 25% 50% 75% 100% 2008 2013 1H14 2018F International Thailand

REVENUE CONTRIBUTION

Restaurants Updates Hub

12

2007 2013 2Q14 2018F

RESTAURANT PERFORMANCE

2Q14 TOTAL-SYSTEM-SALES OF THE RESTAURANT BUSINESS CONTINUED TO GROW BY 12.4%, DUE TO SAME-STORE-SALES GROWTH OF 1.5% AND OUTLET EXPANSION OF 12% YoY. 2Q14 SAME-STORE-SALES GROWTH BOUNCED BACK TO POSITIVE TERRITORY UPON PROACTIVE MARKETING INITIATIVES, TOGETHER WITH IMPROVING SENTIMENT AND DOMESTIC CONSUMPTION IN THAILAND.

Same-Store-Sales Growth Total-System-Sales Growth

• No. of

Outlets

2007 2013 2Q14 2018F 35% 65% 7% 93% 47% 53% 676 2,625 47% 53% 18% 82% 46% 54% 1,592 676 2,625 Franchised Owned 1,544 1,544 48% 52% 1,592 International Thailand +12% YoY +12% YoY 35% 65%

SSS & TSS GROWTH

1,544

Restaurants Updates

RESTAURANT OUTLETS BY GEOGRAPHY RESTAURANT OUTLETS BY OWNERSHIP

4.1% 1.1% 0.0% 0.9%

• 1.8%

1.5% 14.6% 13.9% 13.2% 14.3% 9.4% 12.4%

• 5%

0% 5% 10% 15% 20% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 1,406 1,419 1,464 1,568 1,592

13

THAILAND HUB

Same-Store-Sales Growth Total-System-Sales Growth

THAILAND’S SSS & TSS GROWTH

Restaurants Updates

POISED FOR GROWTH

• 5%

0% 5% 10% 15% 20% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

THAILAND REMAINS THE MAJOR REVENUE AND PROFIT CONTRIBUTOR TO THE RESTAURANT BUSINESS. INNOVATIVE PRODUCTS AND SERVICES, PROACTIVE MARKETING INITIATIVES, AS WELL AS EFFICIENT COST CONTROL PROGRAMS HAVE AFFORDED MINT’S RESTAURANT BUSINESS TO REMAIN IN THE FOREFRONT OF THE CASUAL DINING RESTAURANT INDUSTRY IN THE COUNTRY.

1H14 REVENUE CONTRIBUTION

67% 33%

Thailand Others

Restructuring of The Pizza Company

Same-store-sales growth rebounded in 2Q14 as a result of more proactive marketing initiatives, as well as improving domestic consumption as the political climate become more stable. Consequently, with continued outlet expansion, total-system-sales growth also surged to 15% in 2Q14. MINT continues to launch innovative products and services to maintain the leadership position in the market. Swensen’s new Sundae Sizzler’s new Salad Bar Burger King’s Breakfast Menu The Pizza Company’s Pizza Roll In addition to organic outlet expansion, Minor Food Group always looks for opportunities to add new concepts. Dairy Queen’s Blizzard JV with Breadtalk in Thailand Launched Noodle Bar & Thai Express in Phuket

14 SINGAPORE’S SSS & TSS GROWTH PROFITABILITY TO REMAIN STRONG

SINGAPORE HUB

Restaurants Updates

• 10%
• 5%

0% 5% 10% 15% 20% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

SINGAPORE HUB IS THE SECOND BIGGEST REVENUE AND NET PROFIT CONTRIBUTOR OF THE RESTAURANT

• BUSINESS. ITS NET PROFIT HAS SEEN IMPRESSIVE GROWTH DESPITE NEGATIVE SAME-STORE-SALES GROWTH IN

1Q14 & 2Q14 BECAUSE OF THE EFFECTIVE COST CONTROL. MINT’S SINGAPORE OPERATIONS CONTINUE TO GROW NOT ONLY THROUGH ORGANIC OPERATIONS AND NEW INNOVATIVE CONCEPTS, BUT ALSO THROUGH EXPANSION OF ITS BRANDS IN OTHER COUNTRIES.

1H14 REVENUE CONTRIBUTION

18% 82%

Singapore Others

Same-Store-Sales Growth

Same-store-sales growth was negative in 1H14 because of:

• Further expansion of Poulet, the Singapore Hub’s sub-brand, in its

second year of operation, and

• Changing consumer taste which resulted in intensified competition.

Total-system-sales was positive as a result of outlet expansions, which more than offset the negative same-store-sales growth effect.

Total-System-Sales Growth

The Singapore Hub’s net profit continued to report impressive growth as a result of effective cost control, despite the negative same-store-sales growth.

+44% +37% 2Q13 2Q14 1H13 1H14 2Q Net Profit 1H Net Profit

The Singapore Hub continues to ensure profitability of the unit through:

• Continuous change of its menus;
• Launch of new concepts:

– 2012: Poulet – 2013: Penang Street – 2014: Basil by ThaiExpress & SIFU Hong Kong Bunnery;

• Effective cost control.

Poulet Penang Street SIFU

15 AUSTRALIA’S SSS & TSS GROWTH EXPANSION INTACT

AUSTRALIA HUB

Restaurants Updates 0% 5% 10% 15% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

ALTHOUGH AUSTRALIA HUB CONTRIBUTES ONLY 1% TO THE RESTAURANT BUSINESS’S REVENUES, IT CONTRIBUTES 11% TO THE NET PROFIT, AS THE AUSTRALIA HUB’S PERFORMANCE IS RECOGNIZED AS SHARE OF PROFIT OF INVESTMENTS IN JOINT VENTURE UNDER EQUITY ACCOUNTING. AUSTRALIA HUB IS THEREFORE THE THIRD LARGEST PROFIT CONTRIBUTOR TO THE RESTAURANT BUSINESS.

1H14 REVENUE CONTRIBUTION

1% 99%

Australia Others

Same-Store-Sales Growth Total-System-Sales Growth

Australia provides stable same-store-sales and total-system-sales growth for the group, primarily attributable to the established Coffee Club operations. In addition to growing The Coffee Club in its established home markets, Australia and New Zealand, the Australia Hub is looking to expand the brand in other parts of the region: An effort to turn around Ribs & Rumps is another main focus of the Australia Hub:

• Many new marketing initiatives are being launched, including

“Buy one get one free” offer in April / May, and new Express Lunch Menu;

• Back of house process is being reviewed to focus on increasing

productivity, reduction of costs and expenses, and improving speed of service. Thailand New Caledonia & China Egypt Maldives Malaysia & Indonesia

2009 2010 2011 2012 2013 2014

16 CHINA’S SSS & TSS GROWTH GROWTH PLANS IN PLACE

CHINA HUB

Same-Store-Sales Growth Total-System-Sales Growth Restaurants Updates

• 10%

0% 10% 20% 30% 40% 1Q14 2Q14

CHINA HUB CONTRIBUTES 12% OF RESTAURANT REVENUES, WHILE IN TERMS OF NET PROFIT, ITS OPERATIONS HAVE TURNED AROUND AND WAS BREAK-EVEN IN 2013. WITH RIVERSIDE AS THE SUCCESSFUL LOCAL CONCEPT AND SIZZLER’S UNIQUE POSITION AS A WESTERN STEAK HOUSE CHAIN, TOGETHER WITH VAST POTENTIAL IN THE CONSUMPTION SPACE IN THE COUNTRY, MINT AIMS FOR CHINA TO BECOME A MEANINGFUL CONTRIBUTOR IN THE FUTURE.

1H14 REVENUE CONTRIBUTION

12% 88%

China Others

Total-system-sales growth of China operations continued to be

• strong. Active outlet expansion of the Riverside brand since MINT’s

acquisition at the end of 2012 more than offset negative same-store- sales growth effect. The objective going forward is to expand outlets under Riverside and Sizzler brands in China, after having closed down 15 The Pizza Company outlets during 2008-2014.

Historical Outlet Expansion in China 27 24 21 22 35 42 42 55 2008 2009 2010 2011 2012 2013 1H14 2014F

While short-term goal is to increase the scale of operations by increasing the number of outlets, the medium to long-term goal is to improve profitability of the operations to be comparable to other hubs.

Hotel & Mixed-Use Business

Radisson Blu Hotel, Maputo

18

RECENT UPDATES – HOTEL & MIXED-USE

MINT CONTINUES TO INVEST IN ITS FUTURE, POISED FOR SOLID GROWTH GOING FORWARD. Full-opening of Anantara Phuket Layan in July 2014 Launch of Oaks’ WRAP on Southbank in Melbourne in May 2014 Acquisition of 49% of Rani Minor Holding II to own hotel & mixed-use project in Maputo, Mozambique The project consists of:

• Radisson Blu Hotel: 154-key hotel (currently in operation)
• Residential Tower: 187-key , 19,466 net sq.m., 18-storey tower, majority of which is for rental (under construction, expected to complete by

the end of 2015)

• Office Tower: 20,926 net sq.m., 21-storey tower (under construction, expected to complete by the end of 2015)

The project is within 5 minutes of Maputo CBD, facing the renowned Maputo Bay and fronting Avenida Da Marginal, one of the city’s main arterial raods The project is MINT’s fifth property in Mozambique, all of which are under collaboration with Rani Investments. This completes MINT’s expansion in the country, from the north all the way to the south Investment size is USD 101 million for the 49% stake.

Anantara Bazaruto Pemba Matemo Medjumbe

Maputo Project

Radisson Blu Hotel Office Tower Residential Tower

Hotel Updates

19

RECENT UPDATES – HOTEL & MIXED-USE – CONT’D

MINT CONTINUES TO INVEST IN ITS FUTURE, POISED FOR SOLID GROWTH GOING FORWARD. Acquisition of 8 hotels with over 1,300 rooms in 5 countries in Africa from Sun International

Hotel Updates

Kenya Tanzania Mozambique Zambia Royal Livingstone Hotel Zambezi Sun Resorts Zambia (50%) Namibia Namibia (80%) Kalahari Sands Hotel & Casino Botswana Lesotho Lesotho Sun Hotel & Casino Maseru Sun Lesotho (37.5%) Royal Swazi Spa Valley Ezulwini Sun (Lugogo Sun) Swaziland (40.5%) Swaziland The investment size is R663.6 million (USD 62.4 million) Investment rationales:

• The investment allows MINT to expand its footprint in the southern part of Africa and will complement the hotel business’s current

East Africa safari and beach offerings through the Elewana and the Mozambican properties.

• MINT can benefit from Africa’s growth potential, both in terms of economic growth and the untapped travel and tourism
• The scale allows MINT to develop a platform with operational efficiency within the region

The 7 hotels, with the exception of Royal Livingstone Hotel, will be rebranded into AVANI. The renowned Royal Livingstone Hotel will be marketed through Anantara’s distribution channels The transaction is expected to close in 4Q14 Gaborone Sun Hotel & Casino Botswana (64%)

* Note: the percentage depicts MINT’s effective shareholdings in the properties

20

FINANCIAL PERFORMANCE – HOTEL & MIXED-USE

1H14 REVENUE OF HOTEL & MIXED-USE BUSINESS GREW BY 11%, PRIMARILY AS A RESULT OF GROWTH OF MANAGEMENT CONTRACT, OAKS, OWNED HOTELS AND ANANTARA VACATION CLUB. 1H14 NET PROFIT INCREASED BY 18%, LED BY HIGHER PROFITABILITY OF OWNED HOTELS IN 2Q14 AND ANANTARA VACATION CLUB ON THE BACK OF HIGHER OPERATING LEVERAGE AND EFFECTIVE COST CONTROL, TOGETHER WITH AN INCREASE IN CONTRIBUTION FROM HIGHER-MARGIN MANAGEMENT CONTRACT BUSINESS.

Owned hotels: 42% of 1H14 hotel and mixed-use revenues – saw revenue growth of 1% although system-wide 1H14 RevPar dropped by 5% YoY (organic RevPar -3%); Oaks: 28% of 1H14 hotel and mixed-use revenues – reported 1H14 revenue growth of 15% while RevPar declined by 2%, from a slight drop in occupancy; Management contracts: 7% of 1H14 hotel and mixed- use revenues – reported increase in 1H14 revenue by 185%, from the outstanding performance of the Maldives hotels, increase in number of rooms by 56% YoY, and system-wide 1H14 RevPar increase of 49% (organic RevPar increase of 16%); Real estate: 17% of 1H14 hotel and mixed-use revenues – saw flat 1H14 revenues YoY, as increase in revenues from Anantara Vacation Club offset the decline of revenues from residential sales; Net profit exhibited growth at a higher rate than revenues as a result of higher operating leverage and effective cost savings in 2Q14, together with the one- time gain on fair value adjustment of investment in Serendib in Sri Lanka of THB 69 million (after tax); Excluding the one-time fair value adjustment, net profit increased by 12%.

Key Highlights

Hotel Updates Revenue EBITDA NPAT EBITDA Margin Net Margin THB million 4,794 3,690 4,312 5,181 5,322 4,083 1,727 665 967 1,847 1,761 892 945 98 354 1,053 1,003 229 1Q13 19.7% 36.0% 18.0% 2Q13 2.7% 22.4% 8.2% 3Q13 35.7% 20.3% 4Q13 +11% YoY +34% YoY +134% YoY 1Q14 33.1% 18.8% 21.8% 2Q14 5.6% +11% YoY 8,484 9,406 +11% YoY 2,392 2,653 28.2% 28.2% 1,043 1,232 +18% YoY 1H13 12.3% 1H14 13.1%

21 IN RECENT YEARS, MINT HAS IMPLEMENTED A SOLID DIVERSIFICATION STRATEGY. TODAY, MINT OPERATES HOTELS AND SPAS IN COMBINATION OF INVESTMENT, JOINT-VENTURE AND MANAGEMENT BUSINESS MODELS IN 23 COUNTRIES, WITH ANOTHER SIX COUNTRIES IN THE PIPELINE OVER THE NEXT THREE YEARS.

HOTEL & MIXED-USE - INTERNATIONAL PRESENCE

Hotel Updates

Egypt

Management Combination Investment New Destinations in Pipeline 94% 60% 49% 46% 6% 40% 51% 54% 0% 25% 50% 75% 100% 2008 2013 1H14 2018F International Thailand

REVENUE CONTRIBUTION

Hub

22

SYSTEM-WIDE HOTEL OPERATIONS

2Q14 SYSTEM-WIDE REVPAR INCREASED BY 10% YoY DESPITE THE IMPACT OF DOMESTIC POLITICAL EVENTS. EXCLUDING BANGKOK HOTELS, SYSTEM-WIDE REVPAR ROSE BY A HIGHER MAGNITUDE OF 19%. HOTELS IN THAILAND’S MAJOR TOURIST DESTINATIONS OUTSIDE OF BANGKOK CONTINUED TO SEE GROWTH IN REVPAR, WHILE OVERSEAS HOTELS, THE MAJORITY OF WHICH ARE ANANTARA HOTELS, WITNESSED EVEN STRONGER PERFORMANCE WITH REVPAR INCREASING BY OVER 50% YoY.

THB THB Hotel Updates

NUMBER OF HOTEL ROOMS ADR OCCUPANCY REVPAR

THB +10% YoY Organic excl FX Impact

• 1% YoY

3,000 6,000 9,000 12,000 15,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 MLR / Oaks Managed Joint-venture Owned +24% YoY No of Rooms 10,529 10,624 11,740 12,723 13,128 * Note: Hotel Statistics include Oaks Hotel & Resort 73% 66% 69% 71% 67% 60% 50% 60% 70% 80% 90% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

• 5% YoY

Organic

• 4% YoY

5,937 4,998 5,105 6,098 7,012 6,004 2,000 4,000 6,000 8,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 4,358 3,280 3,537 4,355 4,707 3,618 1,000 2,000 3,000 4,000 5,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 +20% YoY Organic excl FX Impact +5% YoY 13,179

23

OWNED-HOTELS OPERATIONS

OWNED HOTELS REMAINED A MAJOR REVENUE CONTRIBUTOR IN 1H14 WITH 42% CONTRIBUTION OF HOTEL & MIXED-USE REVENUES. ALTHOUGH THE POLITICAL INSTABILITY IN THAILAND PUT PRESSURE ON OVERALL OWNED HOTELS OCCUPANCY, PARTICULARLY THAT OF BANGKOK HOTELS, MINT WAS ABLE TO RAISE RATES BY 12% ON AVERAGE, RESULTING IN REVPAR DECLINE OF MERELY 7% YoY. DESPITE THE DECLINE IN REVPAR, WITH ADDITION OF NEW HOTEL ROOMS, REVENUES OF OWNED HOTEL HELD UP WELL.

THB THB +12% YoY 42% 58%

Owned- hotels Other hotels & mixed-use 1H14 REVENUE CONTRIBUTION

No of Rooms Organic excl FX Impact +10% YoY Hotel Updates

NUMBER OF HOTEL ROOMS ADR OCCUPANCY REVPAR

THB

• 7% YoY

Organic excl FX Impact

• 7% YoY

2,494 2,388 2,427 2,676 2,753 2,753 1,000 1,500 2,000 2,500 3,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 + Hoi An + Quy Nhon

• Anantara

Bophut Samui (reno) +Anantara Ankor Cambodia +Anantara Bophut +Grand Hotel +Anantara Layan Phuket +15% YoY 7,275 5,650 5,388 6,957 8,570 6,301 2,000 4,000 6,000 8,000 10,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 78% 61% 66% 69% 64% 51% 40% 50% 60% 70% 80% 90% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

• 10% YoY

Organic

• 10% YoY

5,687 3,446 3,553 4,784 5,497 3,199

2,000 4,000 6,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

24

OWNED-HOTELS PERFORMANCE BY GEOGRAPHY

IN 1H14, BANGKOK HOTELS ACCOUNT FOR ONLY 10% OF TOTAL HOTEL & MIXED-USE REVENUES (5% OF TOTAL MINT REVENUES). SYSTEM-WIDE REVPAR OF OWNED HOTELS OUTSIDE OF BANGKOK CONTINUED TO GROW AT THE RATE OF 4% IN 2Q14, PRIMARILY AS A RESULT OF BETTER PERFORMANCE AND CHANGE IN HOTEL MIX TOWARDS HIGHER-REVPAR HOTELS OF OVERSEAS PORTFOLIO. DESPITE THE POLITICAL UNCERTAINTY, THAILAND PROVINCIAL HOTELS CONTINUED TO SEE REVPAR GROWTH OF 1%.

THB THB Hotel Updates

OVERALL EXCL BANGKOK THAILAND PROVINCES BANGKOK OVERSEAS

THB 14,676 10,040 8,340 11,746 15,289 10,981 10,396 5,356 5,380 7,145 11,058 5,989 71% 53% 65% 61% 72% 55% 0% 20% 40% 60% 80% 4,000 8,000 12,000 16,000 1Q13 2Q13 2Q13 4Q13 1Q14 2Q14 10% 90%

Bangkok hotels Other hotels & mixed-use 1H14 REVENUE CONTRIBUTION

THB 4,772 4,501 4,423 4,917 4,814 4,407 3,800 2,795 3,064 3,458 2,280 1,796 80% 62% 69% 70% 47% 41% 0% 20% 40% 60% 80% 1,000 2,000 3,000 4,000 5,000 1Q13 2Q13 2Q13 4Q13 1Q14 2Q14 RevPar -36% YoY RevPar +12% YoY 7,873 5,535 5,433 7,367 8,490 6,030 6,190 3,451 3,438 5,160 6,403 3,472 79% 62% 63% 70% 75% 58% 20% 40% 60% 80% 100% 2,000 4,000 6,000 8,000 10,000 1Q13 2Q13 2Q13 4Q13 1Q14 2Q14 RevPar +1% YoY THB 9,042 6,474 6,135 8,348 10,067 7,131 6,977 3,900 3,900 5,655 7,518 4,056 77% 60% 64% 68% 75% 57% 20% 40% 60% 80% 100% 3,000 6,000 9,000 12,000 1Q13 2Q13 2Q13 4Q13 1Q14 2Q14 RevPar +4% YoY

RevPar ADR % Occupancy

25

OAKS’ OPERATIONS

OAKS’ SERVICED-SUITES OPERATIONS PROVIDE THE HOTEL AND MIXED-USE BUSINESS WITH STABLE PERFORMANCE THROUGHOUT THE YEAR, COMPARED TO HOTEL BUSINESS WHICH IS MORE SEASONAL. ALTHOUGH OAK’S REVPAR IN 2Q14 SLIGHTLY DECLINED YoY, ITS REVENUES GREW BY 15% MAINLY FROM ADDITIONAL MLR CONTRACTS WHICH BROUGHT IN 11% MORE ROOMS YoY. THB

THB +11% YoY 27% 73%

1H14 REVENUE CONTRIBUTION

No of Rooms

AUD

NUMBER OF MANAGED ROOMS ADR OCCUPANCY REVPAR

Hotel Updates 3,825 3,498 3,654 3,923 3,777 3,388 124 118 127 133 129 112 100 110 120 130 140 150 1,000 2,000 3,000 4,000 5,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 THB 4,898 4,635 4,644 4,957 4,966 4,727 158 157 161 169 170 156 150 160 170 180 2,000 4,000 6,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 5,176 5,323 5,576 5,897 5,855 5,906 3,000 4,000 5,000 6,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 28% 72%

Oaks Other hotels & mixed-use

THB +2% YoY AUD Flat YoY AUD 78% 75% 79% 79% 76% 72% 60% 70% 80% 90% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

• 3% YoY

THB

• 3%YoY

AUD

• 5% YoY

26

MANAGED-HOTELS OPERATIONS

IN 1H14, CONTRIBUTION OF MANAGED HOTELS INCREASED TO 7% OF HOTEL & MIXED-USE REVENUES FROM 3% IN 1H13. SYSTEM-WIDE REVPAR OF MANAGED HOTELS PORTFOLIO IN 2Q14 INCREASED BY 60% YoY PRIMARILY FROM THE OUTSTANDING PERFORMANCE OF MALDIVES HOTELS, TOGETHER WITH IMPROVEMENT OF OTHER EXISTING HOTELS AND ADDITION OF NEW HOTELS, PARTICULARLY UNDER PER AQUUM BRAND, WHICH COMMANDS HIGH REVPAR. AS A RESULT, 2Q14 REVENUE FROM MANAGEMENT SERVICES INCREASED BY 88% YoY.

THB 7% 93%

Management contract 1H14 REVENUE CONTRIBUTION

No of Rooms

Other hotels & mixed-use

Hotel Updates

NUMBER OF HOTEL ROOMS ADR OCCUPANCY REVPAR

+56% YoY THB 2,126 2,180 2,946 3,254 3,404 3,404 1,000 2,000 3,000 4,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

+ Anantara Xisuang- banna + Per AQUUM Huvafenfushi, Desert Palm, Niyama + Avani Atrium Bangkok + Anantara Al Yamm + Anantara Chiang Mai, Al Sahel, The Palm Dubai

• Per AQUUM

Niyama + Anantara Emei

5,228 4,405 5,483 6,506 7,726 7,234 2,000 4,000 6,000 8,000 10,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 +64% YoY Organic excl FX Impact +20% YoY 60% 51% 55% 62% 57% 50% 40% 50% 60% 70% 80% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

• 1% YoY

Organic

• 1% YoY

3,128 2,254 3,011 4,066 4,382 3,613 1,000 2,000 3,000 4,000 5,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 +60% YoY Organic excl FX Impact +17% YoY

27

HOTEL EXPANSION PIPELINE

MINT CONTINUES TO IMPLEMENT “ASSET RIGHT” STRATEGY, WHICH IS A COMBINATION OF “ASSET HEAVY” (OWNED & JV) AND “ASSET LIGHT” (MANAGEMENT CONTRACTS & MLRs), DEPENDING ON THE CIRCUMSTANCES AND OPPORTUNITIES. THE BELOW FIGURES ARE BASED ON CURRENT SIGNED PIPELINE WHILE THE FINALIZATION OF ON-GOING DUE-DILIGENCE AND NEW OPPORTUNITIES THAT COME ALONG IN THE FUTURE WILL CERTAINLY ADD TO THE BELOW GROWTH FIGURES.

Hotel Updates

OWNED HOTELS MANAGED HOTELS OAKS

2,676 2,753 3,343 3,592 2,000 2,500 3,000 3,500 4,000 2013 2014F 2015F 2016F +3% +21% +7% No of Rooms 5,906 6,177 6,643 6,843 2,000 3,000 4,000 5,000 6,000 7,000 2013 2014F 2015F 2016F No of Rooms +5% +8% +3% 3,254 3,645 4,586 6,414 2,000 3,000 4,000 5,000 6,000 7,000 2013 2014F 2015F 2016F No of Rooms +12% +26% +40%

JOINT VENTURE

896 1,331 2,555 2,555 500 1,000 1,500 2,000 2,500 3,000 2013 2014F 2015F 2016F No of Rooms +49% +92%

28

Others

HOTEL EXPANSION PIPELINE

EXPANSION INSIDE AND OUTSIDE THAILAND WILL CONTRIBUTE TO REVENUE & PROFIT IN COMING YEARS.

Hotel Updates

HOTEL INVESTMENT MANAGEMENT CONTRACTS

2014F

• Emei, China (150 rms)
• Doha, Qatar (117 rms)

2015F

• Sanya, China

(122 rms)

• Pinnacle

(40 rms)

• Rivermarque

(149 rms)

• WRAP (73 rms)

Total

• Niyama, Maldives*

Phase 2 (45 rms) (Per Aquum)

• Amboseli Camp,

Kenya* (16 rms) (Elewana)

• Layan, Phuket

(77 rms)

• Medjumbe,

Mozambique* (12 rms)

• Matemo,

Mozambique* (23 rms)

2016F * Note: Joint-ventured properties

• The Radisson

Blu, Maputo, Mozambique* (154 rms)

• Radius (89 rms)
• Milton (298 rms)
• Carlyle (79 rms)
• Qiandao Lake, China (120 rms)
• Baoting, China (130 rms)
• Guiyang, China (218 rms)
• Salalah, Oman (136 rms)
• Al Akhdar, Oman (123 rms)
• Luang Prabang, Laos (115 rms)
• Kalutara, Sri Lanka

(141 rms)

• Tangalle, Sri

Lanka* (150 rms)

• Bazaruto Island,

Mozambique* Phase 2 (75 rms)

• Bangkok (249 rms)
• Jimbaran,

Indonesia (200 rms)

• Nusa Dua,

Bali , Indonesia (590 rms)

20 Hotels / 2,574 Rooms 28 Hotels / 4,210 Rooms

• Chongqing, China (150 rms)
• Dongguan, China (120 rms)
• Mhinghang , China (300 rms)
• Mahabalipuram, India (130 rms)
• Udaipur, India (70 rms)
• Wayanad, India (95 rms)
• La Chaland, Mauritius (160 rms)
• Al Madina, Oman (120 rms)
• Tozeur, Tunisia (93 rms)
• Pemba, Mozambique* (184 rms)
• Barbarons,

Seychelles (124 rms)

• Qasr Al Sarab,

UAE (99 rms)

• Royal

Livingstone, Zambia* (173 rms)

• Ambalangoda, Sri Lanka (80 rms)
• Gaborone Sun, Botswana (196 rms)
• Kalahari Sands, Namibia (173 rms)
• Zambezi Sun, Zambia* (212 rms)
• Lesotho Sun, Lesotho* (158 rms)
• Maseru Sun, Lesotho* (105 rms)
• Royal Swazi, Swaziland* (149 rms)
• Ezulwini Sun, Swaziland* (202 rms)

29

Shanghai Sanya Phuket Samui Bangkok Bali

PART OF THE REAL ESTATE BUSINESS, ANANTARA VACATION CLUB, WHICH LEVERAGES ON THE ANANTARA BRAND, IS GROWING TO BECOME ANOTHER SIGNIFICANT CONTRIBUTOR TO HOTEL AND MIXED-USE

• BUSINESS. SALES CONTINUED TO GROW BY 28% IN 2Q14 AND 50% IN 1H14 YoY .

Current Sales Galleries Current AVC Resorts

REAL ESTATE BUSINESS – ANANTARA VACATION CLUB

Real Estates Updates 17% 83%

1H14 REVENUE CONTRIBUTION Real estates Other hotels & mixed-use

China 29% Thailand 16% Singapore 13% Hong Kong 12% Malaysia 9% Australia 3% Japan 2% Indonesia 2% USA 1% UK 1% Others 12% As at Jun 2014

AVC MEMBERS

22 25 46 106 106 500 100 200 300 400 500 2010 2011 2012 2013 2Q14 2018F

• No. of Units

10 Destinations

PLANNED PIPELINE OF INVENTORIES

Queenstown

30

REAL ESTATE BUSINESS - RESIDENTIAL

1H14 REVENUE CONTRIBUTION

NEXT RESIDENTIAL PROJECT IN THE PIPELINE IS THE RESIDENCES BY ANANTARA, PHUKET, TO BE LAUNCHED IN

• 2H14. MINT HAS ALSO ENTERED INTO A PARTNERSHIP TO DEVELOP SERVICE SUITES ADJACENT TO ANANTARA

CHIANG MAI, AND WILL ADD ADDITIONAL RESIDENTIAL CLUB SUITES IN PHUKET. ADDITIONAL RESIDENTIAL PROJECTS ADJACENT TO ANY OF THE HOTEL PROPERTIES ARE BEING CONSIDERED TO ENSURE CORE PIPELINE OF MINT’S REAL ESTATE BUSINESS, INCLUDING ONE IN TANGALLE, SRI LANKA.

Sold 92% Inventory 8% Sold 71% Inventory 29%

Situated on Layan beach on the preferred west coast of Phuket. Each of the 15 individually designed residences benefits from one

• f Phuket’s most picturesque bays, and represents the most

significant new luxury development in Phuket. 15 uniquely designed pool villas Up to 8 bedrooms, each with 21 metre private infinity pool 1,313 to 2,317 sq.m. of built-up area Due to be launched in 2H14 ESTATES SAMUI

• ST. REGIS RESIDENCES

THE RESIDENCES BY ANANTARA, LAYAN, PHUKET

Real Estates Updates 17% 83%

Real estates Other hotels & mixed-use

Other Important Information

32 1H14 REVENUE OF RETAIL TRADING & CONTRACT MANUFACTURING INCREASED BY 1% YoY FROM BETTER PERFORMANCE OF RETAIL TRADING BUSINESS. NET PROFIT AND NET PROFIT MARGIN WERE PRESSURED LARGELY BY THE DECREASED DOMESTIC CONSUMPTION, PARTICULARLY DISCRETIONARY SPENDING, IN LIGHT OF THAILAND’S POLITICAL UNCERTAINTY.

FINANCIAL PERFORMANCE – RETAIL TRADING & CONTRACT MANUFACTURING

965 836 900 915 1,001 810 107 64 76 90 107 50

56 23 30 43 54 8

1H14 revenue from retail trading increased by 4% YoY, despite the softening of domestic consumption which affected industry-wide discretionary spending. The revenue increase was primarily attributable to the expansion of points of sale by 14% YoY; 1H14 revenue from contract manufacturing decreased by 6% YoY, from delayed orders from NMT’s key customers amidst contraction of domestic consumption; EBITDA and EBITDA margin, together with net profit and net profit margin, declined in 1H14 because of the adverse impact of national politics, which took its toll on profitability of domestic discretionary consumer sector.

11.1% 5.8% 1Q13 2.8% 2Q13 7.7% 8.5% 3.3% 3Q13

Key Highlights

Revenue EBITDA NPAT EBITDA Margin Net Margin THB million Retail Trading Updates

• 3% YoY
• 23% YoY

9.8%

• 65% YoY

4.7% 4Q13 10.6% 5.4% 1Q14 6.2% 1.0% 2Q14 1,801 1,811 172 156 79 62 +1% YoY

• 9% YoY
• 21% YoY

9.5% 8.6% 4.4% 1H13 3.4% 1H14

33

RETAIL TRADING & CONTRACT MANUFACTURING

2Q14 TOTAL-SYSTEM-SALES OF RETAIL TRADING GREW BY 6% AS A RESULT OF OUTLET EXPANSION OF 14% YoY. ALTHOUGH SAME-STORE- SALES GROWTH CONTINUED TO BE NEGATIVE IN 2Q14 AS SALES OF DISCRETIONARY GOODS HAVE BEEN IMPACTED BY THE INDUSTRY-WIDE SLOWDOWN, THE TREND IS IMPROVING. SIMILARLY, 2Q14 SALES PER SQM. ALSO DECLINED YoY.

Same-Store-Sales Growth Total-System-Sales Growth

• No. of

Shops Fashion & Cosmetic Sales per Sq.m. THB

SSS & TSS GROWTH SALES PER SQ. M.

Retail Trading Updates 276 12.2%

• 4.0%
• 2.3%

3.3%

• 10.0%
• 5.9%

23.0% 1.0% 8.0% 16.0% 3.0% 6.0%

• 20%

0% 20% 40% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

240 247 256

278 28,931 24,787 25,443 25,387 25,620 23,996 10,000 20,000 30,000 40,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

• No. of

Shops 276

240 247 256

278 281 281

34 BACK-UP FINANCING

CAPEX & BALANCE SHEET STRENGTH

IN ADDITION TO COMMITTED CAPEX, MINT ALSO SET ASIDE ADDITIONAL CAPEX FOR FUTURE ACQUISITIONS AND NEW INITIATIVES. LEVERAGE RATIO REMAINS WELL BELOW THE INTERNAL POLICY. WITH ITS SOLID BALANCE SHEET, MINT WILL BE ABLE TO PRIMARILY USE ITS INTERNAL CASHFLOW AND DEBT FINANCING TO FUND ITS CAPEX REQUIREMENTS GOING FORWARD. TRIS RATING HAS UPGRADED MINT AND ITS SENIOR DEBENTURE RATINGS TO “A+”, FROM “A” IN APRIL 2014.

X 0.4 0.6 0.8 1.0 1.2 1.4 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 Interest Bearing Debt to Equity Net Interest Bearing Debt to Equity Internal Policy X THB million

• 2.0

4.0 6.0 8.0

• 2,000

4,000 6,000 8,000 10,000 2013 2014F 2015F 2016F 2017F 2018F THB million Additional CAPEX (non-committed average per annum) for New Opportunity/Acquisition(s) Restaurant Hotel & Mixed-use Retail Trading EBITDA coverage on committed CAPEX 10,000 20,000 30,000 40,000 50,000 60,000 Outstanding Borrowing & Equity Un-Utilized Facility Debt Debt Shareholders’ Equity

CAPEX PLANS – COMMITTED & NEW OPPORTUNITIES LEVERAGE RATIOS

CAPEX & Balance Sheet Strength 0.87x 1.00x * Note that 2014F CAPEX is according to the original 5-year plan and does not take into account new acquisitions during the year

35

Going Forward

FIVE-YEAR ASPIRATIONS

• 22 hotels
• 676 restaurants
• 316 retail shops & POS

(14,524 Sqm)

2007

• > 160 hotels
• > 200 residences built to

date

• > 500 timeshare units
• > 2,600 restaurants
• > 350 retail shops & POS

(>30,000 sqm)

2018F

NPAT (THB) 1.6bn

4.1bn

2007 2018F 2013

• 109 hotels
• 67 residences built to

date

• 106 timeshare units
• 1,592 restaurants
• 281 retail shops & POS

(22,415 Sqm)

2Q14

36 FIVE-YEAR STRATEGY CONSISTS OF THE FOLLOWING THREE KEY PILLARS, WITH CLEAR GOALS AND MEASUREMENTS.

NPAT growth of ~15-20% CAGR ROIC of >16% Growth Pillars Measure- ments

Drive Profitable Portfolio

• f Own Brands (with

Additional Contribution from Selected International Brands)

Maximize Asset Value and Productivity Expand Internationally Through Strategic Investments & Acquisitions

Asset- light Model Mixed- use Initiatives

Total-system-sales growth

• f over 15%

Revenues growth

• f over 10%

Improvement of margins Revenues from overseas

• f over 40%

Net profit from overseas

• f 50%

2018 Goals

Summary of Five-Year Plan

MINT’S FIVE-YEAR STRATEGY 2014-2018