Forward Looking Statement Statements included or incorporated in - PowerPoint PPT Presentation

COMPANY PRESENTATION – June 2020 (updated)

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. 2

AGENDA 1Q20 in Review Minor Hotels Minor Food Minor Lifestyle Corporate Information Response to COVID-19: Immediate & Long-term Plans

NH Col ollection Rom oma For ori Imperiali 1Q20 IN REVIEW

YTD 2020 Recap – Impact from COVID-19 Since the outbreak of COVID- 19, MINT’s business has been impacted globally. MINT continues to minimize costs and CAPEX in order to reduce negative flow-through, preserve cash and focus on liquidity, while preparing for the business re-opening. While April is the worst month, signs of recovery is seen in May onwards. Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 • Gradual border • Many countries start • Wuhan / China • Italy lockdown, • Many countries under • News of COVID-19 reopening of some to loosen lockdown lockdown followed by other lockdown globally countries measures European countries • Majority of food • Majority of food outlets in China reopened, performing better than “best case” expectation outlets in China closed • Gradual reopening of • 2/3 of outlets in Thailand & • Gradual reopening dine-in services in Australia operational for of dine-in services in Australia delivery and takeaways Thailand • Temporary closure of hotels in Europe, starting in Italy & • Gradual reopening of hotels in Spain, and gradually extended to other European countries Europe, primarily in Benelux and and Latin America Central Europe • Hotel closure in • Selective reopening • Selective reopening of Thailand, Maldives and of hotels such as in hotels in Thailand and other countries. Those China & Vietnam. other countries. remained open are at • Reopening of minimal operation restaurants in hotels in Bangkok • Over 90% of lifestyle outlets • Over 90% of lifestyle outlets temporarily closed reopened 5

1Q20 Performance Recap In 1Q20, MINT’s core revenue declined by 22% y -y, as all three business units have been impacted by the COVID-19 outbreak. Consequently, with the severe and sudden revenue decline while costs did not fall as fast, the compounding negative flow- through resulted in MINT’s net loss both pre- and post- TFRS 16 in the quarter. REVENUE 1Q20 REVENUE CONTRIBUTION Minor THB million -22% y-y Lifestyle 28,848 29,030 30,000 5% Minor -182 Food -2,433 22,421 +113 22,533 - - 22,421 25% -3,027 -703 -265 20,000 THB 22,421 million Minor 10,000 Hotels 1Q19 Non-core 1Q19 Minor NHH Minor Minor 1Q20 TFRS16 TFRS16 1Q20 Non-core 1Q20 Reported Items Core Hotels Food Lifestyle Core Impact Impact Core Items Reported 70% excl NHH Pre-TFRS16 excl NHH on NHH Post-TFRS16 * Excludes non-core items NET PROFIT THB million NM 1,000 +50 633 583 0 -1,000 -1,531 +1,400 -2,000 -1,774 -1,272 -3,000 -557 -109 -2,834 -51 -288 -3,173 -4,000 1Q19 Non-core 1Q19 Minor NHH Minor Minor 1Q20 TFRS16 TFRS16 1Q20 Non-core 1Q20 Reported Items Core Hotels Food Lifestyle Core Impact Impact Core Items Reported excl NHH Pre-TFRS16 excl NHH on NHH Post-TFRS16 6 * Non-core items are detailed on page 43.

International Presence With a solid diversification strategy implemented, MINT’s footprint was in 63 countries at the end of 1Q20 across its hospita lity and restaurant businesses. Minor Hotels Minor Food Combination REVENUE CONTRIBUTION 100% 43% 75% International 67% 71% 73% Thailand 50% 57% 25% 33% 29% 27% 0% 2014 2019* 1Q20* 2024F *Excludes non-core items 7

Avani+ Sam Samui MINOR HOTELS

Minor Hotels – Financial Highlights 1Q20 revenue declined by 26% y-y, attributable to most businesses and geographies, from the impact of the COVID-19 pandemic. Both EBITDA and NPAT pre-TFRS 16 were negative in 1Q20, predominantly starting from February. The negative flow-through with declining revenues was further dampened by the seasonally soft quarter and lease structure in Europe. As such, almost 80% of Minor Hotels’ net loss was attr ibutable to NHH. Post-TFRS 16, Minor Hotels reported core net loss of THB 3 billion. MINOR HOTELS – FINANCIAL PERFORMANCE PERFORMANCE SNAPSHOT – BY BUSINESS 1Q20 Revenue Change Y-Y (THB) -26% NM NM 21,230 Owned & 26% 15,770 15,770 Leased 3,085 THB 2,070 million Management 6% 14.5% 128 13.1% -670 -2,998 -2,675 Letting Rights 0.6% 34% Managed Hotels Revenue EBITDA NPAT 1Q19 1Q20 Pre-TFRS 16 1Q20 Post-TFRS 16 % Margin Mixed-Use 43% * The financials above reflect performance from operation, and therefore exclude non-core items as Business detailed on page 43. BUSINESS PERFORMANCE SNAPSHOT – BY GEOGRAPHY Australia & Maldives & Thailand Europe The Americas New Zealand The Middle East 1Q20 Revenue 38% 26% 6% 26% 25% Change Y-Y (THB) 9

Minor Hotels – International Presence In recent years, MINT has implemented a solid diversification strategy. Today, MINT operates hotels and spas under a combination of owned, leased and management business models in 55 countries. Investment Management Combination New Destinations in Pipeline Hubs REVENUE CONTRIBUTION 100% 33% 75% International 86% 86% 88% Thailand 50% 67% 25% 14% 14% 12% 0% 2014 2019* 1Q20* 2024F * Excludes non-core items 10

Owned & Leased Hotels In terms of business model, owned and leased business contribute 85% of Minor Hotels’ revenue. In terms of geography, Europe is the major contributor with 59% of Minor Hotels’ revenue. Thailand is the second largest contributor, followed by Australia & New Zealan d. SYSTEM-WIDE ROOM CONTRIBUTION SYSTEM-WIDE ROOM CONTRIBUTION By Ownership By Geography Middle East & MLR Asia Africa 6% 9% 11% Oceania Owned 10% Managed 26% 17% Americas 76,320 76,320 11% Rooms Rooms JV 2% Leased Europe 62% 46% * As at end of Mar 2020 * As at end of Mar 2020 1Q20 REVENUE CONTRIBUTION 1Q20 REVENUE CONTRIBUTION By Business By Geography Others Mixed-use Maldives & Thailand MLR 8% 5% Middle East 4% 14% 8% Managed Australia & New 2% Zealand 8% THB Americas 15,770 7% million Owned & Europe Leased 59% 85% 11

Owned & Leased Hotels Number of rooms of owned & leased hotel portfolio increased by 3% y-y in 1Q20. Organic RevPar excluding FX impact declined by 25%, driven purely by occupancy as a result of the adverse impact of COVID-19. System-wide RevPar of owned & leased portfolio declined further by 28%, from the addition of new hotels and slightly stronger Thai Baht during the quarter. As a result, revenue of owned & leased hotels declined by 26% y-y in 1Q20. Going into 2Q20, Minor Hotels’ business was most significantly impacted by the COVID -19 pandemic in April, and a sales improvement began to be seen in the second half of May, following the re-opening of some of the hotels. OPERATIONAL STATS Organic System-wide Organic excl FX System-wide Organic excl FX System-wide +3% -19% -19% +6% +2% -25% -28% 54,685 52,978 65% 3,970 3,810 2,444 3,748 46% 46% 1,844 1,752 1Q19 1Q20 1Q19 1Q20 1Q19 1Q20 1Q19 1Q20 1Q19 1Q20 1Q19 1Q20 1Q19 1Q20 No of Rooms Occupancy ADR (THB) RevPar (THB) -6% -70% -99% -98% 1% Jan Feb Mar Apr May Monthly 2020 Organic RevPar Growth - THB (y-y) 12

Owned Hotels – Thailand & Maldives The two largest geographies for Minor Hotels outside of Europe are Thailand and the Maldives. With Chinese tourists contributing over 20%, Thailand hotels saw RevPar declining since February. The outstanding performance of hotels in the Maldives in January was offset by the declining RevPar in February and March. April was the lowest month for the two geographies, with the temporary closure of hotels in both Thailand and the Maldives. Signs of recovery is seen for May as selected hotels in Thailand started to gradually reopen. OPERATIONAL STATS – THAILAND (ORGANIC) OPERATIONAL STATS – MALDIVES (ORGANIC) -28% Flat -34% -13% +1% -16% 7,301 7,325 1,134 1,151 829 5,951 73% 82% 60% 693 54% 3,948 Occupancy ADR (THB) RevPar (THB) Occupancy ADR (USD) RevPar (USD) 1Q19 1Q20 1Q19 1Q20 18% 2% -47% -77% -98% -4% -36% -66% -100% -95% -99% -20% -53% -100% -100% Jan Feb Mar Apr May Jan Feb Mar Apr May Jan Feb Mar Apr May Monthly 2020 Maldives RevPar Growth - Monthly 2020 Bangkok RevPar Monthly 2020 Provinces RevPar USD (y-y) Growth - THB (y-y) Growth - THB (y-y) 13