Company Presentation - Nov 2014 Anantara Bazaruto Island, Mozambique - - PowerPoint PPT Presentation

Company Presentation - Nov 2014

WRAP Melbourne

Anantara Bazaruto Island, Mozambique

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

9M14 Performance Recap & Recent Updates Hotel & Mixed-Use Business Restaurant Business Other Important Information

9M14 Performance Recap

5

CONTINUED GROWTH WITH DIVERSIFICATION

MINT REPORTED 9M14 NET PROFIT OF THB 2.8 BILLION, A 9% INCREASE YoY, THANKS TO 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 ATTRIBUTABLE TO BOTH HOSPITALITY AND RESTAURANT BUSINESSES, TOGETHER WITH THE GAIN ON FAIR VALUE ADJUSTMENT OF INVESTMENT IN SERENDIB IN SRI LANKA IN 2Q14.

15,000 20,000 25,000 30,000 9M13 Hotel & Mixed-Use Restaurant Retail Trading 9M14 26,842 29,172 THB Million 1,500 2,000 2,500 3,000 9M13 Hotel & Mixed-Use Restaurant Retail Trading 9M14 THB Million 2,545 2,783 +9% YoY +9% YoY

REVENUES NET PROFIT

9M14 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% 61% 52% 13% 32% 39% 48% 0% 25% 50% 75% 100% 2008 2013 9M14 2019F International Thailand

7

WHAT’S NEW IN 3Q14 TO DATE

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

Rivermarque, Mackay (MLR)

HOTEL & MIXED USE RESTAURANT

HOTEL INVESTMENTS OAKS Strategic investment of 70% in VGC Food Group by Australia hub, consisting of: 50% joint-venture with BreadTalk Group to operate BreadTalk’s bakery operations in Thailand

Recent Development

• 49% acquisition of Radisson Blu Hotel & mixed-use project in Maputo,

Mozambique

CORPORATE

Inclusion of MINT in the Dow Jones Sustainability Emerging Markets Index (DJSI) in the consumer services sector for the first year

• Announcement of acquisition of 8 hotels with over 1,300 rooms in 5

countries in Africa from Sun International (to be completed in 4Q14):

80% in Kalahari Sands Hotel & Casino, Namibia 64% in Gaborone Sun Hotel & Casino, Botswana 50% in Royal Livingstone Hotel and Zambezi Sun Resorts, Zambia 40.5% in Royal Swazi Spa Valley and Ezuwini Sun (Lugogo Sun), Swaziland 37.5% in Lesotho Sun Hotel & Casino and Maseru Sun, Lesotho

Veneziano Coffee Roaster: a leading and award- winning specialty roasting house, supplying over 500 tons of freshly roasted coffee annually The Groove Train: a casual dining (bar / restaurant) franchise system offering quality food and beverages in a ‘funky / modern’ atmosphere Coffee Hit: a unique specialty coffee franchise system offering an enhanced retail coffee experience to customers via beverage and whole- bean trade

Hotel & Mixed-Use Business

Serengiti Migration Camp

9

FINANCIAL PERFORMANCE – HOTEL & MIXED-USE

9M14 REVENUE OF HOTEL & MIXED-USE BUSINESS GREW BY 9%, PRIMARILY AS A RESULT OF GROWTH OF MANAGEMENT CONTRACT, OAKS, OWNED HOTELS AND ANANTARA VACATION CLUB. 9M14 NET PROFIT INCREASED BY 16%, FROM HIGHER PROFITABILITY ON THE BACK OF HIGHER OPERATING LEVERAGE AND EFFECTIVE COST CONTROL IN 2Q14 AND 3Q14, TOGETHER WITH AN INCREASE IN CONTRIBUTION FROM HIGHER-MARGIN MANAGEMENT CONTRACT BUSINESS.

Owned hotels: 41% of 9M14 hotel and mixed-use revenues – saw revenue growth of 3% although system-wide 9M14 RevPar dropped by 7% YoY (organic RevPar -5%); Oaks: 29% of 9M14 hotel and mixed-use revenues – reported 9M14 revenue growth of 15% while RevPar declined by 1%; Management contracts: 6% of 9M14 hotel and mixed-use revenues – reported increase in 9M14 revenue by 149%, from the outstanding performance of the Maldives hotels and the ramping up of the new hotels, with system-wide 9M14 RevPar increase of 24% (organic RevPar increase of 10%); Real estate: 17% of 9M14 hotel and mixed-use revenues – declined by 11% YoY because of lower 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 and 3Q14, 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 11%.

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 4,505 1,727 665 967 1,847 1,761 892 1,130 945 98 354 1,053 1,003 229 382 1Q13 19.7% 36.0% 18.0% 2Q13 2.7% 22.4% 8.2% 3Q13 35.7% 20.3% 4Q13 +4% YoY +17% YoY +8% YoY 1Q14 33.1% 18.8% 21.8% 2Q14 5.6% +9% YoY 12,796 13,911 +13% YoY 3,359 3,782 26.2% 27.2% 1,397 1,615 +16% YoY 9M13 10.9% 9M14 11.6% 25.1% 3Q14 8.5%

10 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 SEVEN 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% 44% 6% 40% 51% 56% 0% 25% 50% 75% 100% 2008 2013 9M14 2019F International Thailand

REVENUE CONTRIBUTION

Hub

11

SYSTEM-WIDE HOTEL OPERATIONS

3Q14 SYSTEM-WIDE REVPAR WAS FLAT AMIDST DOMESTIC POLITICAL EVENTS AND RENOVATIONS OF ANANTARA RIVERSIDE, ANANTARA HUA HIN AND AVANI QUY NHON. WHILE HOTELS IN THAILAND’S MAJOR TOURIST DESTINATIONS, ESPECIALLY BANGKOK, SAW THE LINGERING IMPACT OF THE MARTIAL LAW AND COUP IN 3Q14, OVERSEAS HOTELS, THE MAJORITY OF WHICH ARE ANANTARA HOTELS, WITNESSED AN INCREASE IN REVPAR OF 14% YoY. NEVERTHELESS, THAI HOTELS ARE SEEING IMPROVING TREND IN REVPAR GROWTH MONTH-BY-MONTH THROUGHOUT 3Q14.

THB THB Hotel Updates

NUMBER OF HOTEL ROOMS ADR OCCUPANCY REVPAR

THB

• 1% YoY

Organic excl FX Impact

• 1% YoY

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

• 4% YoY

Organic

• 2% YoY

5,937 4,998 5,105 6,098 6,968 5,884 5,321 2,000 4,000 6,000 8,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4,358 3,280 3,537 4,355 4,673 3,546 3,486 1,000 2,000 3,000 4,000 5,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 +4% YoY Organic excl FX Impact +2% YoY 13,179 13,465

12

OWNED-HOTELS OPERATIONS

OWNED HOTELS REMAINED A MAJOR REVENUE CONTRIBUTOR IN 9M14 WITH 41% 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 3Q14 RATES BY 6% ON AVERAGE. DESPITE THE DECLINE IN REVPAR OF 11% YoY, WITH ADDITION OF NEW HOTEL ROOMS, 3Q14 REVENUES OF OWNED HOTELS INCREASED BY 8% YoY.

THB THB +6% YoY 41% 59%

Owned- hotels Other hotels & mixed-use 9M14 REVENUE CONTRIBUTION

Organic excl FX Impact +6% YoY Hotel Updates

NUMBER OF HOTEL ROOMS ADR OCCUPANCY REVPAR

THB

• 11% YoY

Organic excl FX Impact

• 11% YoY

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

• Anantara

Bophut Samui (reno) +Anantara Ankor Cambodia +Anantara Bophut +Grand Hotel +Anantara Layan Phuket +13% YoY 7,275 5,650 5,388 6,957 8,570 6,301 5,717 2,000 4,000 6,000 8,000 10,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 78% 61% 66% 69% 64% 51% 55% 40% 50% 60% 70% 80% 90% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14

• 11% YoY

Organic

• 11% YoY

5,687 3,446 3,553 4,784 5,497 3,199 3,159

2,000 4,000 6,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 No of Rooms

13

OWNED-HOTELS PERFORMANCE BY GEOGRAPHY

IN 9M14, BANGKOK HOTELS ACCOUNT FOR ONLY 10% OF TOTAL HOTEL & MIXED-USE REVENUES (5% OF TOTAL MINT REVENUES). REVPAR OF THAI OWNED HOTELS, IN PARTICULAR BANGKOK HOTELS, WERE IMPACTED BY THE MARTIAL LAW AND COUP, TOGETHER WITH THE RENOVATION OF ANANTARA RIVERSIDE AND ANANTARA HUA

• HIN. OVERSEAS REVPAR SAW A CHANGE OF MIX WITH BETTER PERFORMANCE OF RELATIVELY NEWER AND LOWER

REVPAR PROPERTIES, WHICH PULLED DOWN THE REVPAR AVERAGE, TOGETHER WITH THE RENOVATION OF AVANI QUY NHON. NEVERTHELESS, MONTHLY REVPAR GROWTH FOR ALL CATAGORIES IS SEEING AN IMPROVING TREND.

THB THB Hotel Updates

THAILAND PROVINCES BANGKOK OVERSEAS

THB 14,676 10,040 8,340 11,746 15,289 10,981 8,987 10,396 5,356 5,380 7,145 11,058 5,989 5,108 71% 53% 65% 61% 72% 55% 57% 0% 20% 40% 60% 80% 4,000 8,000 12,000 16,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 10% 90%

Bangkok hotels Other hotels & mixed-use 9M14 REVENUE CONTRIBUTION

THB 4,772 4,501 4,423 4,917 4,814 4,407 4,681 3,800 2,795 3,064 3,458 2,280 1,796 2,236 80% 62% 69% 70% 47% 41% 48% 0% 20% 40% 60% 80% 1,000 2,000 3,000 4,000 5,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 RevPar Growth (YoY)

• 40%
• 36%
• 27%

7,873 5,535 5,433 7,367 8,490 6,030 5,438 6,190 3,451 3,438 5,160 6,403 3,472 3,301 79% 62% 63% 70% 75% 58% 61% 20% 40% 60% 80% 100% 2,000 4,000 6,000 8,000 10,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14

RevPar ADR % Occupancy

MONTHLY REVPAR GROWTH TREND

RevPar Growth (YoY) +3% +1%

• 4%

RevPar Growth (YoY) +6% +12%

• 5%
• 60%
• 40%
• 20%

0% 20% Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Bangkok Thailand Provinces Overseas Martial Law & Coup

14

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 3Q14 WAS FLAT YoY, ITS REVENUES GREW BY 14% MAINLY FROM ADDITIONAL MLR CONTRACTS WHICH BROUGHT IN 8% MORE ROOMS YoY. THB

THB +8% YoY 27% 73%

9M14 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 3,692 124 118 127 133 129 112 124 100 110 120 130 140 150 1,000 2,000 3,000 4,000 5,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 THB 4,898 4,635 4,644 4,957 4,966 4,727 4,651 158 157 161 169 170 156 157 150 160 170 180 2,000 4,000 6,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 5,176 5,323 5,576 5,897 5,855 5,906 6,045 3,000 4,000 5,000 6,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 29% 71%

Oaks Other hotels & mixed-use

THB Flat YoY AUD

• 2% YoY

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

• 2% YoY

15

MANAGED-HOTELS OPERATIONS

IN 9M14, CONTRIBUTION OF MANAGED HOTELS INCREASED TO 6% OF HOTEL & MIXED-USE REVENUES FROM 3% IN 9M13. SYSTEM-WIDE REVPAR OF MANAGED HOTELS PORTFOLIO DECLINED BY 6% YoY IN 3Q14, PRIMARILY FROM THE ADDITION OF NEWLY-OPENED MANAGED HOTELS WHICH INITIALLY YIELD LOWER REVPAR. ORGANIC PERFORMANCE EXCLUDING FOREIGN EXCHANGE RATE IMPACT SAW REVPAR GROWTH OF 1% YoY IN 3Q14. BECAUSE OF THE ADDITIONAL ROOMS OF 16% YoY AND THE RAMPING UP OF NEW HOTELS OVER THE PAST TWO YEARS, 3Q14 REVENUE FROM MANAGEMENT SERVICE INCREASED BY 73% YoY.

THB 6% 94%

Management contract 9M14 REVENUE CONTRIBUTION

No of Rooms

Other hotels & mixed-use

Hotel Updates

NUMBER OF HOTEL ROOMS ADR OCCUPANCY REVPAR

+16% YoY THB 2,126 2,180 2,946 3,254 3,404 3,404 3,404 1,000 2,000 3,000 4,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14

+ 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 7,537 6,719 5,459 2,000 4,000 6,000 8,000 10,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 Flat YoY Organic excl FX Impact +7% YoY 60% 51% 55% 62% 57% 50% 52% 40% 50% 60% 70% 80% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14

• 3% YoY

Organic

• 3% YoY

3,128 2,254 3,011 4,066 4,264 3,351 2,824 1,000 2,000 3,000 4,000 5,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14

• 6% YoY

Organic excl FX Impact +1% YoY

16

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 3,122 3,537 2,000 2,500 3,000 3,500 4,000 2013 2014F 2015F 2016F +3% +13% +13% No of Rooms 5,897 6,045 6,711 6,711 2,000 3,000 4,000 5,000 6,000 7,000 2013 2014F 2015F 2016F No of Rooms +3% +11%

• 3,254

3,404 4,334 5,969 2,000 3,000 4,000 5,000 6,000 2013 2014F 2015F 2016F No of Rooms +5% +27% +38%

JOINT VENTURE

896 1,263 2,397 2,525 500 1,000 1,500 2,000 2,500 3,000 2013 2014F 2015F 2016F No of Rooms +41% +90% +5%

17

• Guiyang, China (218 rms)
• Qiandao Lake, China (120 rms)
• Luang Prabang, Laos (115 rms)
• Al Akhdar, Oman (123 rms)
• Salalah, Oman (136 rms)
• Al Madina, Oman (120 rms)
• Dongguan, China (120 rms)
• Mhinghang , China (300 rms)
• Mahabalipuram, India (130 rms)
• La Chaland, Mauritius (160 rms)
• Tozeur, Tunisia (93 rms)

Others

HOTEL EXPANSION PIPELINE

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

Hotel Updates

HOTEL INVESTMENT MANAGEMENT CONTRACTS

2014F 2015F

• Pinnacle (39 rms)
• WRAP (120 rms)
• Rivermarque

(70 rms)

Total

• Layan, Phuket

(77 rms)

• Medjumbe,

Mozambique* (12 rms)

• Matemo,

Mozambique* (23 rms)

2016F

* Note: Joint-ventured properties

• The Radisson

Blu, Maputo, Mozambique* (154 rms)

• Sanya, China

(122 rms)

• Carlyle (79 rms)
• Radius (80 rms)
• Milton (185 rms)
• Jimbaran,

Indonesia (200 rms)

• Bazaruto Island,

Mozambique* Phase 2 (75 rms)

• Ambalangoda, Sri Lanka (64 rms)
• Bangkok (210 rms)

20 Hotels / 2,496 Rooms 24 Hotels / 3,610 Rooms

• Pemba, Mozambique* (184 rms)
• Barbarons,

Seychelles (124 rms)

• Qasr Al Sarab,

UAE (99 rms)

• Nusa Dua, Bali,

Indonesia (590 rms)

• Royal

Livingstone, Zambia* (173 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)
• Niyama, Maldives*

Phase 2 (44 rms) (Per Aquum)

• Amboseli Camp,

Kenya* (16 rms) (Elewana)

• Kalutara, Sri Lanka

(141 rms)

• Tangalle, Sri

Lanka* (128 rms)

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

18

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. IN 3Q14, 13 UNITS IN PHUKET WERE ADDED INTO ANANTARA VACATION CLUB INVENTORY POOL TO ACCOMMODATE NEW MEMBERSHIP. 9M14 SALES GREW BY 19% YoY .

Current Sales Galleries Current AVC Resorts

REAL ESTATE BUSINESS – ANANTARA VACATION CLUB

Real Estates Updates 17% 83%

9M14 REVENUE CONTRIBUTION Real estates Other hotels & mixed-use

China 30% Thailand 15% Singapore 13% Hong Kong 12% Malaysia 9% Australia 3% Japan 2% Indonesia 2% UAE 1% Korea 1% Others 12% As at Sep 2014

AVC MEMBERS

22 25 46 106 119 700 200 400 600 800 2010 2011 2012 2013 3Q14 2019F

• No. of Units

10 Destinations

PLANNED PIPELINE OF INVENTORIES

Queenstown

19

REAL ESTATE BUSINESS - RESIDENTIAL

NEXT RESIDENTIAL PROJECTS IN THE PIPELINE ARE THE RESIDENCES BY ANANTARA, PHUKET, TO BE LAUNCHED AT THE END OF 2014, AND ANANTARA CHIANG MAI SERVICED SUITES TO BE COMPLETED IN 2016. MINT WILL ALSO 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.

Sold 92% Inventory 8% Sold 79% Inventory 21%

Situated on Layan beach on the preferred west coast of Phuket, each of the 15 individually designed residences benefits from one of 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%

9M14 REVENUE CONTRIBUTION Real estates Other hotels & mixed-use

ANANTARA CHIANG MAI SERVICED SUITES

A 50% joint-venture with Natural Park Pcl., the project is in the city center of Chiang Mai, across from Anantara Chiang Mai Resort & Spa, near Chiang Mai Night Bazaar and iconic Ping River. 44 units in 7-storey condominium building 65 to 162 sq.m. (one to three bedrooms) Completion expected in 2016

Restaurant Business

Coffee Hit, Australia

21

Key Highlights

9M14 REVENUE OF THE RESTAURANT BUSINESS INCREASED BY 11% YoY, PRIMARILY FROM THE OUTLET EXPANSION OF 13%. 9M14 NET PROFIT GREW BY 3%, A SMALLER MAGNITUDE THAN REVENUE INCREASE MAINLY AS A RESULT OF THE SLOWDOWN IN DOMESTIC CONSUMPTION WHICH LED TO LOWER OPERATING LEVERAGE IN 1Q14 IN THAILAND AND 3Q14 IN SINGAPORE. NONETHELESS, THAILAND HUB SAW A TURNAROUND IN SAME-STORE-SALES GROWTH SINCE 2Q14.

FINANCIAL PERFORMANCE - RESTAURANT

3,878 3,725 3,742 3,997 4,307 4,230 4,024 716 634 648 761 708 725 622 409 308 323 461 363 379 326

9M14 total-system-sales exhibited strong growth

• f 11.9%, primarily from the outlet expansion of

13% YoY; Riverside, Burger King and Ribs & Rumps reported total-system-sales growth of over 20% in 9M14; 9M14 same-store-sales was flat YoY despite weak operation environment in 1Q14, as Thailand Hub witnessed a turnaround since 2Q14, together with stable performance of Australia Hub; Singapore Hub reported negative same-store- sales growth in 9M14, as a result of consumption slowdown, together with high competition in the casual dining space in Singapore; China Hub reported strongest total-system-sales growth of 24.2% in 9M14, driven primarily by the robust expansion of Riverside outlets; EBITDA & net profit margins declined in 9M14 YoY, attributable to lower operating leverage resulting from negative same-store-sales growth, in particular for Thailand Hub in 1Q14 and Singapore Hub in 3Q14.

18.5% 10.5% 1Q13 8.3% 2Q13 17.0% 17.3% 8.6% 3Q13 Revenue EBITDA NPAT EBITDA Margin Net Margin THB million +8% YoY

• 4% YoY

19.0% +1% YoY 11.5% 4Q13 Restaurants Updates 1Q14 16.4% 8.4% 17.1% 2Q14 9.0% 11,346 12,561 1,998 2,055 1,040 1,069 +11% YoY +3% YoY +3% YoY 17.6% 16.4% 9M13 9.2% 9M14 8.5% 15.5% 3Q14 8.1%

22

RESTAURANT INTERNATIONAL FOOTPRINT

MINT OPERATES FOUR RESTAURANT HUBS: THAILAND, SINGAPORE, AUSTRALIA AND CHINA. MINT’S RESTAURANT PRESENCE IS NOW IN 21 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% 51% 19% 30% 33% 49% 0% 25% 50% 75% 100% 2008 2013 9M14 2019F International Thailand

REVENUE CONTRIBUTION

Restaurants Updates Hub

23

2007 2013 3Q14 2019F

RESTAURANT PERFORMANCE

3Q14 TOTAL-SYSTEM-SALES OF THE RESTAURANT BUSINESS CONTINUED TO GROW BY 11.9%, DUE TO SAME-STORE-SALES GROWTH OF 1.2% AND OUTLET EXPANSION OF 13% YoY. SAME-STORE-SALES GROWTH BOUNCED BACK TO POSITIVE TERRITORY SINCE 2Q14, 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 3Q14 2019F 35% 65% 7% 93% 49% 51% 676 3,365 47% 53% 18% 82% 41% 59% 1,648 676 3,365 Franchised Owned 1,544 1,544 50% 50% 1,648 International Thailand +13% YoY +13% YoY 36% 64%

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% 1.2% 14.6% 13.9% 13.2% 14.3% 9.4% 12.4% 13.9%

• 5%

0% 5% 10% 15% 20% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 1,406 1,419 1,464 1,568 1,592 1,648

24

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 3Q14

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.

9M14 REVENUE CONTRIBUTION

67% 33%

Thailand Others

Restructuring of The Pizza Company

Same-store-sales growth remained in the positive territory in 3Q14, as a result of continued proactive marketing initiatives, together with improving macro backdrop and domestic consumption. Consequently, with continued outlet expansion, total-system-sales growth also surged to 15.7% in 3Q14. MINT continues to launch innovative products and proactive marketing initiatives to maintain the leadership position in the market. Swensen’s Crepe Lover Menu Sizzler’s Creative Menus Burger King’s New Menu & Products The Pizza Company’s Line Sticker & Activities The addition of BreadTalk brand to the Thai portfolio has been completed, where a joint-venture with BreadTalk Group has been set up to operate BreadTalk bakery business in Thailand. Dairy Queen’s “Cup Cake To Go”

25 SINGAPORE’S SSS & TSS GROWTH PROFITABILITY TO BE SUPPORTED BY:

SINGAPORE HUB

Restaurants Updates

• 15%
• 10%
• 5%

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

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

• BUSINESS. ITS SAME-STORE-SALES GROWTH HAS BEEN IMPACTED BY CONSUMPTION SLOWDOWN IN

SINGAPORE, TOGETHER WITH INCREASE IN COMPETITION. SINGAPORE HUB EXPECTS TO SEE MEANINGFUL RECOVERY TOWARDS THE END OF THE YEAR AND INTO 2015.

9M14 REVENUE CONTRIBUTION

18% 82%

Singapore Others

Same-Store-Sales Growth

Same-store-sales growth was negative in 9M14 because of:

• Intensified competition, coupled with contracting macro

environment in Singapore; and

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

second year of operation, and Nevertheless, Singapore Hub was seeing an improving trend in October 2014.

Total-System-Sales Growth

Launch new products for core brands Thai Express’s “Sanook” Menu Xin Wang’s New Products Leverage on the expertise from Thailand head office combined with the vast industry experience and knowledge of the management team in Singapore Consolidate non-core brands in order to re-direct and optimize the utilization of scarce resources Continue to expand organically in Singapore and selectively expand the Thai cuisine concept in Malaysia and other international markets

Selectively launch new concepts

Poulet Penang Street SIFU

26 AUSTRALIA’S SSS & TSS GROWTH EXPANSION INTACT

AUSTRALIA HUB

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

ALTHOUGH AUSTRALIA HUB CONTRIBUTES ONLY 1% TO THE RESTAURANT BUSINESS’S REVENUES, IT CONTRIBUTES 13% 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.

9M14 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: Expansion of new brands through 70% acquisition of: Thailand New Caledonia & China Egypt Maldives Malaysia & Indonesia

2009 2010 2011 2012 2013 2014

Award-winning coffee roaster Casual dining restaurant franchise system in ‘funky / modern’ atmosphere Specialty coffee franchise system

27 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 3Q14

CHINA HUB CONTRIBUTES 13% 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.

9M14 REVENUE CONTRIBUTION

13% 87%

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 50 55 2008 2009 2010 2011 2012 2013 3Q14 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.

Other Important Information

29 9M14 REVENUE OF RETAIL TRADING & CONTRACT MANUFACTURING WAS FLAT YoY FROM BETTER PERFORMANCE OF RETAIL TRADING

• BUSINESS. NET PROFIT AND NET PROFIT MARGIN WERE PRESSURED LARGELY BY THE SLOWDOWN IN DISCRETIONARY SPENDING, IN LIGHT

OF THAILAND’S POLITICAL UNCERTAINTY IN THE FIRST HALF OF THE YEAR.

FINANCIAL PERFORMANCE – RETAIL TRADING & CONTRACT MANUFACTURING

965 836 900 915 1,001 810 889 107 64 76 90 107 50 82

56 23 30 43 54 8 38

9M14 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 13% YoY; 9M14 revenue from contract manufacturing decreased by 7% YoY, from delayed orders from NMT’s key customers amidst consumption slowdown, particularly in 1Q14; EBITDA and EBITDA margin, together with net profit and net profit margin, declined in 9M14 because of the adverse impact of national politics, which took its toll on profitability of domestic discretionary consumer sector especially in the first half of the year.

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

• 1% YoY

+7% YoY 9.8% +28% YoY 4.7% 4Q13 10.6% 5.4% 1Q14 6.2% 1.0% 2Q14 2,701 2,700 248 238 108 100 Flat YoY

• 4% YoY
• 8% YoY

9.2% 8.8% 4.0% 9M13 3.7% 9M14 9.2% 4.3% 3Q14

30

RETAIL TRADING & CONTRACT MANUFACTURING

3Q14 TOTAL-SYSTEM-SALES OF RETAIL TRADING GREW BY 3% YoY AS A RESULT OF OUTLET EXPANSION OF 13% YoY. SAME-STORE-SALES GROWTH CONTINUED TO BE NEGATIVE IN 3Q14 AS SALES OF DISCRETIONARY GOODS HAVE BEEN IMPACTED BY THE INDUSTRY-WIDE SLOWDOWN.

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%
• 10.5%

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

• 20%

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

240 247 256

278 28,931 24,787 23,926 25,387 25,620 23,996 24,220 10,000 20,000 30,000 40,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14

• No. of

Shops 276

240 247 256

278 281 281 288 288

31 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 3Q14 Interest Bearing Debt to Equity Net Interest Bearing Debt to Equity Internal Policy X THB million 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 Shareholders’ Equity

CAPEX PLANS – COMMITTED & NEW OPPORTUNITIES LEVERAGE RATIOS

CAPEX & Balance Sheet Strength 0.88x 0.98x

• 2.0

4.0 6.0

• 2,000

4,000 6,000 8,000 10,000 12,000 14,000 2013 2014F 2015F 2016F 2017F 2018F 2019F 20,000 40,000 60,000 Outstanding Borrowing & Equity Un-Utilized Facility Debt Debt Shareholders’ Equity

32

Going Forward

FIVE-YEAR ASPIRATIONS

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

(14,524 Sqm)

2007

NPAT (THB) 1.6bn

4.1bn

2007 2018F 2013

2019F

• 119 hotels
• 67 residences built to

date

• 119 timeshare units
• 1,648 restaurants
• 288 retail shops & POS

(22,431 Sqm)

3Q14

• > 190 hotels
• > 400 residences built to

date

• > 700 timeshare units
• > 3,300 restaurants
• > 360 retail shops & POS

(> 37,000 Sqm)

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

Summary of Five-Year Plan

MINT’S FIVE-YEAR STRATEGY 2015-2019

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

Drive a Portfolio of Own Brands, With Additional Contribution From Selected International Brands Maximize Asset Value and Productivity Expand 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%

2019 Goals