Opportunity Day Presentation 3Q12 Central Plaza Hotel Public Company Limited November 20, 2012

Centara Grand Beach Resort & Villas Hua Hin Disclaimer

This presentation contains certain forward looking statements. Such forward looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward looking statements as a result of various factors and circumstances. The views, analyses and opinions expressed herein contain some information derived from publicly available sources and third party information providers. No representation or warranty is made as to the accuracy, completeness, or reliability of such information. This presentation should not be relied upon as any recommendation, view, opinion, representation or forecast of “Central Plaza Hotel Plc.” Nothing in this presentation should be construed as either an offer to sell, a solicitation of an offer to buy or sell shares or any type of securities in any jurisdiction. This presentation is not intended to be any type of investment advice and must not be relied upon as such. You must always seek the relevant professional advice before otherwise making any such financial, legal or commercial decisions.

2 CENTEL's Opportunity Day 3Q12 Agenda

o 3Q12 Financial Summary o Performance by Business o Hotel Business o QSR Business o Medium Term Outlook

3 CENTEL's Opportunity Day 3Q12 3Q12 Financial Summary

Centara Hotel and Convention Centre Khaonkaen

4 CENTEL's Opportunity Day 3Q12 Consolidated Earnings: 3Q12 and 9M12

Total revenue by business Financial highlights: Food Hotel • Total revenue grew by 24.5% yoy in 3Q12 and by 27.5% yoy in 9M12. • Significant improvement in performance in hotel businesses has led to 100% the strong NPAT growth in 3Q12. 80% 58% 59% 56% 57% 60% 40% Consolidated 20% 42% 41% 44% 43% Unit: Btmn 3Q11 3Q12 % Chg 9M11 9M12 %Chg 0% Total Revenues 3Q11 3Q12 9M11 9M12 Hotel 1,170.0 1,439.3 23.0% 3,739.4 4,644.0 24.2% EBITDA by business Food 1,630.1 2,046.3 25.5% 4,691.8 6,108.8 30.2% 100% Total Revenues 2,800.1 3,485.6 24.5% 8,431.2 10,752.8 27.5% 80% 46% 48% 43% 38% Total Cost & Expenses (exc. depre) (2,334.1) (2,917.5) 25.0% (6,699.5) (8,512.4) 27.1% 60% Equity Gain (Loss) (3.4) (14.4) 323.5% 42.2 31.3 -25.7% 40% 54% 52% 57% 62% Total EBITDA 462.6 553.7 19.7% 1,773.8 2,271.7 28.1% 20% 0% Total Net Profit - before extra items 6.5 78.5 1108.3% 407.3 775.3 90.4% 3Q11 3Q12 9M11 9M12 Extra-items Amortization of deferred rental income (PFPO) 25.4 25.2 -0.6% 75.2 75.3 0.1% Net profit by business Extra-equity gain/Loss in PFPO - from Asset Revaluation 2.4 (17.5) n.a. 100% 49% Loss on guarantee provision PFPO (9.6) n.a. 81% 50% 107% Net Profit - after extra items 31.9 103.8 225.3% 475.4 833.1 75.3% 325% 51% 19% 0% -7% EPS (Baht per share) 0.02 0.08 0.35 0.62 -225% 3Q11 3Q12 9M11 9M12 -50% 3Q11 3Q12 9M11 9M12

5 CENTEL's Opportunity Day 3Q12 Summary of financial position

Assets Liabilities & Shareholders’ Equity

Unit: Btmn Unit: Btmn Non-current assets Current assets Shareholders'Equity Total liabilities 22,735 22,735 21,684 21,684 1,686 1,760

15,822 15,635

19,924 21,049

6,049 6,913

31-Dec-11 30-Sep-12 31-Dec-11 30-Sep-12

6 CENTEL's Opportunity Day 3Q12 Debt Structure as at 30 September 2012: Total loans of 10,606.8MB with average cost of debt of 4.65%

Interest Bearing Debt 151.3 Baht in millions 31.0 Bank overdraft

Short-term loan 1,800.0 2,260.0 Current portion of Long-term loans Current portion of Debenture 948.0 Current portion of PPF2 3,954.5 1,400.0 Long-term loans

62.0 30-Jun-12 30-Sep-12

Gearing Ratio* 1.56x 1.53x

S-T LOANS (45.5%) = 4,821.3 MB L-T LOANS (54.5%) = 5,785.5 MB

FIXED-RATE LOAN (42.0%) = 4,460.0 MB FLOAT-RATE LOAN (58.0%) = 6,146.8 MB Note: *- Excluding interest bearing debt of JVs, Centara Kata and Centara Grand Resort & Spa, Maldives - Including Centara Ras Fushi Resort & Spa, Maldives 7 CENTEL's Opportunity Day 3Q12 Hotel Business

Centara Watergate Pavillion Hotel Bangkok

8 CENTEL's Opportunity Day 3Q12 Hotel Portfolios ending of 2012: Total 34 hotels in operation with total 6,579 keys (including 12 owned properties, 1 JVs, 1 Property Fund and 20 hotels under management contract).

Hotel Name Status #Rms Remark Hotel Name Status #Rms Remark

1 Centara Grand at CentralWorld O 512 18 Centara Duangtawan Chiang Mai M 512 2 Centara Grand Ladprao O 565 19 Centara Sappaya, Rayong M 13 3 Centara Grand Hua Hin O 249 20 Centra Ashlee Hotel Patong M 110 4 Centara Grand Phuket O 262 21 Away Suansawan Chiang Mai, Boutique M 50 5 Centara Grand Krabi O 192 22 Centara Anda Dhevi, Krabi M 138 6 Centara Grand Mirage Pattaya O 555 23 Centara Plaza Hotel Pattaya M 152 7 Centara Villas Phuket O 72 24 Nova Hotel & Spa Pattaya, Boutique M 79

8 Centara Karon Resort Phuket O 335 75% 25 Chen La Resort & Spa Phu Quoc, M 108 Boutique 9 Centara Mae Sot Hill Resort O 113 26 Waterfront Suites Phuket M 39 10 Centara Hat Yai O 245 27 Centra Tuam Resort Bali M 90 11 Centara Villas Samui O 100 28 Centara Grand West Sands, Phuket M 316 12 Centara Grand Samui PF 202 29 Centara Hotel Khonkaen M 196 2Q12 13 Centara Grand Maldives O 112 25% 30 Centara Sandy Beach Da Nang M 198 4Q12 14 Centara Kata Resort Phuket JV 158 50% 31 Centara Koh Chang Resort M 157 2Q12 15 Khum Phaya Resort, Boutique M 87 32 Centara Poste Lafayette Resort & Spa M 100 4Q12 16 Centara Thani M 259 Maurittius 17 Centara Chaan Talay, Trat M 44 33 Centra Government Complex M 204 4Q12 Note: O=Owned, JV= Joint venture, M=Managed 34 Centra Coconut Beach Samui M 55 3Q12 Indicating overseas properties Information as at September 30, 2012 9 CENTEL's Opportunity Day 3Q12 Our Hotel Portfolios 56 hotels, including 22 hotels under construction

CHINA 125 KEYS

VIETNAM 1,034 KEYS INDIA 30 KEYS 8,215 KEYS SRILANKA 517 KEYS BALI MALDIVES 354 KEYS 362 KEYS

o Total 56 hotels & resorts with 10,905 keys o 14 owned and 1 JV hotels and 41 hotels MAURITIUS under management contracts (of which 20 268 KEYS hotels are currently in operation and 21 are under construction). Information as at September 30, 2012 10 Central Plaza Hotel Pcl. Hotel: Financial Snapshot 3Q12 Strong revenue growth of about 23%, contributed by all major operating department. categories.

Growth 3Q12/3Q11 3Q11 3Q12 Chg o Total revenue (including other income) increased by Bt269.3mn or 23.0% yoy Room 20.0% # of mainly because: F&B 26.7% Available o Rooms 3,347 3,561 6.4% strong improvement of revenue of Other income 23.9% Average properties in Bangkok contributing per Day* Total 23.0% about 32% of an increase revenue; o 25% of an increase revenue was contributed by Centara Karon, Revenue by category and EBITDA margin consolidated since Mach 2012, o Pattaya continue to grow but at Room F&B Other Income EBITDA margin (%) slower pace (3rd full year operation) 42.9% 2,000 38.0% 50.00% contributing around 7% of 21.2% 24.0% 24.5% 20.1% incremental revenue 1,500 17.0% 30.00% o EBITDA margin decreased yoy from 21% 1,520 1,049 1,170 1,184 1,821 1,380 1,439 10.00% 1,000 to 20%, primarily related to expenses -10.00% nd 500 incurred from the new 2 project in -30.00Maldives,% Centara Ras Fushi Resort & Spa, 0 -50.00of% about Bt20.9mn, consolidated since 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 late 2Q12.

Note: -* Owned and JV hotels in Thailand only - Major renovation at Centara Grand Ladprao, and Centara Villas Phuket during 3Q11

11 CENTEL's Opportunity Day 3Q12 Hotel’s KPI by Brand RevPar grew by 7.5% in 3Q yoy, mainly driven by growth in both OCC and ARR

KPIs by Brand 3Q11 3Q12 Chg 9M11 9M12 Chg 3Q12:

OCC by Brand o Occupancy Rate (OCC): rose from 62.5% to 64.8% primarily contributed by a strong • Grand 67.0% 67.7% 0.7% 65.8% 69.8% 4.0% improvement particularly properties in Krabi and Pattaya with OCC of 50%, and 76% , • Centara 51.8% 57.6% 5.8% 59.0% 64.4% 5.4% respectively. Average OCC 62.5% 64.8% 2.3% 63.7% 68.2% 4.5% o Average Room Rate (ARR) and RevPar: ARR increased by 3.7% and 7.5% yoy, respectively, primarily due to strong performance of properties in Krabi and ARR by Brand Pattaya . • Grand 3,586 3,734 4.1% 4,170 4,230 1.4% • Centara 1,753 1,855 5.8% 2,305 2,317 0.5% 9M12: Average ARR 3,135 3,252 3.7% 3,657 3,707 1.4% o Occupancy Rate (OCC): improved from 63.7% to 68.2%, mainly due to contribution of properties in Pattaya, Samui, and Krabi. RevPar by Brand o Average Room Rate (ARR) and RevPar: small ARR growth rate at 1.4% yoy was • Grand 2,404 2,529 5.2% 2,742 2,951 7.6% mostly due to thin growth rate in 1Q12 (as a result of promotion launched to attract • Centara 909 1,069 17.6% 1,359 1,491 9.8% customers following flood in 4Q11). However, RevPar shown significant growth at Average RevPar 1,960 2,108 7.5% 2,331 2,529 8.5% 8.5% yoy mainly contributed by properties in Bangkok, Phuket, Pattaya and Samui.

12 CENTEL's Opportunity Day 3Q12 Hotel: Revenue Contribution by Location

3Q12 o Revenue from hotels in Bangkok reported strong performance with 41.3% of revenue contribution, primarily due to full operation of Centara Grand Ladprao and strong improvement of convention centre business at Centara Grand @ Central World. o Pattaya, Phuket and Samui, each contributed more than 10% of revenue in 3Q12.

Revenue Contribution

9M11 9M12 41.3% 3Q11 3Q12 39.1%

39.7% 35.7%

17.2% 16.3% 16.0% 16.4% 19.4% 10.2% 18.1% 8.9% 8.9% 7.7% 6.5% 12.4% 5.2% 11.5% 11.8% 2.9% 11.3% 2.5% 0.5% 9.1% 0.5% 9.7% 5.4% 3.9% 0.6% 7.7% 3.3% 0.6%

Bangkok Hua Hin Krabi Samui Pattaya Phuket Hat Yai Mae Sot Bangkok Hua Hin Krabi Samui Pattaya Phuket Hat Yai Mae Sot

Note: *Hotel operating income only, excluding other income and revenue from JVs

13 CENTEL's Opportunity Day 3Q12 International tourist arrivals

No. of international tourist arrivals and occupancy 3Q12 10.00 71% 58% 63% 64% 75% 65% 65% 100.0%o Total tourist arrivals rose by 8.2% yoy to 5.3 million. East Asia and Oceania reported the strongest 50.0% 8.00 65% 52% 57% 56% 66% 55% 58% growth of 16% yoy, mainly driven by and 0.0% Australia. 6.00

Tourists -50.0% 5.7 9M12 4.00 5.3 4.9 4.9 5.3 -100.0% 4.4 4.5 o East Asia presented the strongest growth in term of

Million -150.0% 2.00 number of tourists followed by Europe and Oceania, -200.0% respectively. - -250.0o% East Asia maintained its largest portion at 56% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 followed by Europe and South Asia at 24% and 6%, respectively. Tourist Arrivals Tourism OCC Centel OCC Top 5 International Arrivals Unit: Million Tourists International Tourist Arrivals by Region % % 9M11 9M12 % ∆ 6% 5% 3%1 % Share Share East Asia 2 1 5% China 1.40 9.52% 1.95 12.19% 39.13% Europe 1 2 Americas 1.90 12.96% 1.78 11.14% -6.54% 9M12 5 3 16.0mn South Asia 0.91 6.19% 1.00 6.23% 9.46% 56% 3 4 Oceania Korea 0.80 5.43% 0.84 5.28% 5.71% 24% 5 Russia 0.69 4 4.73% 0.83 5.18% 18.93% Africa Source: Bank of Thailand, Tourist Authority of Thailand 14 CENTEL's Opportunity Day 3Q12 Centara’s Feeder Market Maintaining our key European market and gaining market share in high growth market

o Our guest mixes maintained fairly consistent between period. Compared to previous year, the slight drop in European guest was replaced by Thai and Australia.

o For 9M12, our top 3 rapid growth sources market were China, Thailand and Russia.

Guest mixes by number of room nights

3Q11 3Q12 9M11 9M12

37.9% 29.6% 40.9% 30.9% 23.2% 18.2% 16.8% 1Q11 19.9% 24.3% 17.5% 21.2% 17.8% 16.2% 6.5% 12.2% 4.1% 16.8% 7.4% 3.9% 2.5%1. 6% 4.6% 11.2% 2.9% 2.2% 3.0% 2.1% 4.8%

Europe Asia Thailand Australia Middle USA Others Europe Asia Thailand Australia Middle USA Others East East Note: Russia is included in Europe Others such as Latin America, Canada, South America

15 CENTEL's Opportunity Day 3Q12 2013 Market Outlook & Our Growth Strategy

Hotel Supply Situation in Thailand • Overall Thailand continues to see staggering growth in new units from existing operators and new entrants, driven by new growth potential (from TAT) and general emerging market growth

Opportunity and Marketing Strategy • Maximize opportunities from southeast Asia and ASEAN community developments on the lead up in 2015. Open sales network office in Singapore, Malaysia or plus expanded network in Vietnam. • Continue to support traditional markets which have enjoyed long term marketing investment to ensure no loss of market share and potential upside of market share gains as other look to new emerging market. Increase marketing spend in traditional markets so as to maintain 2012 growth trends.

Growth Strategy • Strong push to further enhance brand with Thailand domestic market with new targeted websites and increased brand awareness markets. • New mobile app launching in English and Thai. • New Loyalty program launched in association with the very popular “The One Card” with its extensive reach particularly within Thailand. • New International sales offices in ASEAN region, South Africa and exploring North American market plus further support to existing locations.

16 CENTEL's Opportunity Day 3Q12 Recently Open in Oct 2012 :

Centara Sandy Beach Da Nang Vietnam Location: Vietnam Number of keys: 198 Rooms Status: Managed

17 CENTEL's Opportunity Day 3Q12 To be Open in Dec 2012 :

Centara Pasted Lafayette Resort & Spa Mauritius Location: Mauritius Number of keys: 100 Rooms Status: Managed

18 CENTEL's Opportunity Day 3Q12 To be Open in 1Q13 :

Centara Ras Fushi Resort & Spa Maldives Location: Maldives Number of keys: 140 Rooms Status: Owned hold 75%

19 CENTEL's Opportunity Day 3Q12 To be Open in 1Q13 :

Centara Grand Resort and Spa Pattaya Location: Pattaya Number of keys: 160 Rooms Status: Managed

20 CENTEL's Opportunity Day 3Q12 To be Open in 1Q13 :

Centara Passikudah Resort & Spa Srilanka Location: Srilanka Number of keys: 125 Rooms Status: Managed

21 CENTEL's Opportunity Day 3Q12 Food Business

Ootoya Beard Papa’s

Pepper Lunch The Terrace

22 CENTEL's Opportunity Day 3Q12 The Terrace QSR’s Portfolios at the end of 3Q12 12 brands with 655 outlets

No of outlets

Brands 3Q11 3Q12

KFC 162 176

Mister Donut 258 282 KFC Pepper Chabuton Ryu Shabu Lunch Shabu Café 1 1 Andonand

Auntie Anne’s 85 98 11 15 Beard Papa’s 12 17 The Terrace Ootoya Chabuton 5 9 RYU 1 1

Cold Stone 7 10

The Terrace 0 3

Yoshinoya 1 7 Mister Auntie beard Cold Stone Café’ Ootoya 33 36 Donut Anne’s papa’s Creamery Andonand Total 576 655

23 CENTEL's Opportunity Day 3Q12 QSR: Financial Snapshot 3Q12 o Total revenue (including other income) increased by Bt461.2mn or 25.5% yoy to Bt2,046.3mn o Ootoya, KFC and Mister Donut were the top 3 brands contributing about 73% of revenue increase. Excluding Ootoya, acquired in September 2011, KFC and MD contributed 42% of revenue increase. o EBITDA margin declined from 13.1% to 12.9% of total revenue mainly due to an impact of minimum wage increase and also higher selling and administrative costs, primarily as results of outlet expansion.

Total Revenue VS EBITDA margin Incremental Revenue

2,500 Others 19.0% 30.00%Auntie 17.3% 15.6% 14.1% 15.2% 8.4% 13.1% 12.9% Anne's 2,000 2,161 7.4% 2,046 10.00% 1,859 1,901 Yoshinoya 1,500 5.5% 1,583 1,630 -10.00% Ootoya 1,479 31.2% 1,000 Chabuton -530.2%. 00% Bt461mn 500 -50.00% KFC Mister 29.5% 0 Donut -70.00% 12.7% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12

Note: Excluded depreciation allocated to cost

24 CENTEL's Opportunity Day 3Q12 QSR: 3Q12 Organic Growth vs. Total Growth o In 3Q12, revenue (excluding other income) increased by Bt417.4mn or 25.8% yoy to Bt2,034mn mainly derived from growth from existing brand of Bt253.1mn (or 61%) and new brands of Bt164.3mn (or 39%).

QSR’s Revenue Revenue Incremental

164 253 2,034 1,616

3Q11 Exisitng Brands New Brands 3Q12

Note: Revenue excluded other income Existing brands = KFC, Mister Donut /Café Andonand, Auntie Anne’s, Pepper Lunch, Beard Papa,’s Chabuton, Ryu Shabu Shabu and New Brands = The Terrace, Yoshinoya and Ootoya

25 CENTEL's Opportunity Day 3Q12 QSR: Revenue Contribution by Brands

o Top 4 brands, KFC, MD, Ootoya, and Auntie Anne’s accounted for about 90% of QSR’s revenue.

3Q11 Revenue Contribution 3Q12 Revenue Contribution Others CBT CBT Others 1.8% 6.3% 7.9% Ottoya 2.5% 3.1% AA Ootoya 8.9% 7.9% + Bt417.4 3Q11 (or 25.8%) AA 3Q12 Bt1,616.1mn 7.8% KFC MD Bt2,033.5mn 21.6% KFC 53.1% 59.2% MD 19.8%

Note: - Others = CSC (including ice-cream factory), BP, PL, TT, RYU and YO Note: - Others = CSC (including ice-cream factory), BP, PL, TT, RYU and YO - Excluding other income - Excluding other income

26 CENTEL's Opportunity Day 3Q12 QSR: 3Q12/9M12 SSS and TSS 3Q12 o Same Store Sale (SSS) grew by 5.4%, with KFC, Mister Donut and Auntie Anne’s being the key growth drivers. o Total System Sale (TSS) rose by 25.8%, largely due to the continuous growth of major brands, KFC, Mister Donut and Auntie Anne’s together with the revenue contribution from new brand, Ootoya and Yoshinoya.

Brand SSS TSS SSS TSS 3Q11 3Q12 3Q11 3Q12 9M11 9M12 9M11 9M12 KFC 21.6% 6.0% 24.9% 12.9% 18.8% 9.6% 20.5% 17.2%

Mister Donut 5.8% 8.5% 12.9% 15.3% 8.0% 5.2% 14.5% 10.8%

Auntie Anne’s 15.3% 10.6% 20.1% 24.1% 13.1% 11.3% 14.7% 22.7%

Pepper Lunch -3.9% -6.5% 56.7% 40.2% -1.8% -3.8% 66.6% 45.3%

Beard Papa’s -34.2% -20.1% 13.6% 39.1% -30.3% -27.1% 50.8% 36.1%

Chabuton -11.7% -29.2% 249.5% 73.1% -4.3% -29.0% 458.1% 81.8%

Ryu Shabu Shabu 49.3% -3.9% 39.1% -3.9% 42.5% -10.2% 157.5% -9.9%

Cold Stone -52.7% -33.4% 137.9% 21.3% -52.7% -25.3% 383.2% 60.1% Yoshinoya n.a. n.a. n.a. 514.3% n.a. n.a. n.a. 1,431% Ootoya n.a. n.a. n.a. 254.0% n.a. n.a. n.a. 967.1% Average 13.1% 5.4% 28.1% 25.8% 14.6% 6.8% 23.4% 30.0% Note: Cold Stone excluded Factory 27 CENTEL's Opportunity Day 3Q12 Medium Term Outlook

Centara Sandy Beach Resort Da Nang 28 CENTEL's Opportunity Day 3Q12 4Q12 Outlook o QSR business: For 4Q12, SSS growth is expected at only 4.0%. Noted that SSS of about 100 outlets cannot be compared because those outlets were closed during the flood last year. Full year target SSS growth is maintained at 5% and TSS growth at 27%. o Hotel Business: Expected significant growth in RevPar in 4Q12 from its low base last year. Full year target for OCC is at 69% and ARR growth at 3% yoy.

QSR 9M12 4Q12E FY12E Hotel 9M12 4Q12E FY12E

SSS (%) 6.8% 4.0% 5% OCC (%) 68.2% 71% 69%

ARR TSS (%) 30.0% 21.0% 27% 1.4% 8.0% 3% (Growth yoy)

RevPar # of Outlets 655 678 678 8.5% 19% 11% (Growth yoy)

29 CENTEL's Opportunity Day 3Q12 2013 Target

QSR FY13E QSR business: o Full year target SSS growth at 5% - SSS (%) 5% - 7% 7% and TSS growth at 16% - 17%. o Key drivers for revenue growth are TSS (%) 16% - 17% KFC, MD, Ootoya and Yoshinoya, respectively. # of Outlets +70 to +80 Hotel Business: o Full year target for OCC is around Hotel FY13E at 69%-70%. ARR growth is target to significantly15% - 16%, including OCC (%) 69% -70% 2 projects in Maldives. If excluding hotels in Maldives, ARR growth is ARR 15% - 16% target at about 4% - 5%. (Growth yoy) o RevPar growth is about 17-18%. RevPar Excluding 2 Maldives projects, 17% - 18% (Growth yoy) RevPar growth is around 7%-8%

30 CENTEL's Opportunity Day 3Q12

2013 Outlook

Revenue Contribution Hotel Food Total Revenue: o Revenue growth will be mainly driven by 2 projects in Maldives, continuous growth of revenue 54% 57% from existing properties, and QSR outlets expansion. 43% 46%

2012E 2013E EBITDA: o Growth in EBITDA is expected, in EBITDA Contribution line with the top line growth. 32% o Margin from hotel business is 35% targeted to improve by about 1%- 68% 2%, while EBITDA margin of food 65% business is expected to increase around 0.5%.

2012E 2013E

Note: - Revenue excluding other income - Consolidating Centara Karon Phuket and Centara Ras Fushi, Maldives , Centara Grand Island Resort and Spa, Maldives 31 CENTEL's Opportunity Day 3Q12 CENTEL’s CAPEX vs EBITDA o In 2012, total CAPEX is about Bt3,170mn including investment in Centara Rasfushi Resort & Spa, (CRF) Maldives with total project cost of Bt1,650mn, an acquisition of additional 34% shares in Centara Karon, Phuket of Bt179mn since February 2012 and target acquisition of additional 49% shares in Centara Grand Resort and Spa, Maldives of about Bt400mn. o New opportunity of hotel business (in 2014 – 2016) is under study. However, the source of fund will be primarily from operating cash flow.

CAPEX Investment in JVs New Opportunity EBITDA 7,000 7,000

6,000 6,000

5,000 5,000

4,000 4,000

3,000 3,000

2,000 2,000

1,000 1,000

- - 2012E 2013E 2014E 2015E 2016E 32 CENTEL's Opportunity Day 3Q12 Ending Loan Balances and Target Gearing Ratio

O/D, P/N, B/E Debenture Long Term Loan Gearing Ratio 15,000 1.6 2.0 1.2 13,000 11,666 0.9 11,000 10,300 0.6 1.0 9,000 8,505 0.3 7,000 6,377 - 5,000 4,276 3,000 -1.0 1,000

-1,000 2012E 2013E 2014E 2015E 2016E -2.0

Note: - Gearing Ratio = Interest Bearing Debt/ Equity - Including loan of Centara Karon ,estimated loan of Centara Ras Fushi, Maldives and Centara Grand Island Resort & Spa, Maldives - Not take into account of revaluation asset taking place in 4Q12

33 CENTEL's Opportunity Day 3Q12 CENTEL’s Milestone

2005 2012 2013E 2017E

• Hotel 7 hotels • Hotel 34 hotels • Hotel 47 hotels • Hotel > 80 hotels (29 in Thailand (34 in Thailand • QSR 5 Brands, and 5 in Overseas and 18 in • Hotel in Overseas 427 outlets Overseas > 30 • QSR 12 brands, 678 outlets • QSR 13 brands, • QSR 16 brands, ≥ ≥750 outlets 1,000 outlets

34 CENTEL's Opportunity Day 3Q12 Thank you

Centara Grand at Central Plaza Ladprao Bangkok

35 CENTEL's Opportunity Day 3Q12 36 CENTEL's Opportunity Day 3Q12