1

Private and Confidential www.coxandkings.com Disclaimer

This presentation has been prepared by Cox and Kings Limited (the “Company”) solely for your information and for your use and may not be taken away, reproduced, redistributed or passed on, directly or indirectly, to any other person (whether within or outside your organization or firm) or published in whole or in part, for any purpose. By attending this presentation, you are agreeing to be bound by the foregoing restrictions and to maintain absolute confidentiality regarding the information disclosed in these materials.

The information contained in this presentation does not constitute or form any part of any offer, invitation or recommendation to purchase or subscribe for any securities in any jurisdiction, and neither the issue of the information nor anything contained herein shall form the basis of, or be relied upon in connection with, any contract or commitment on the part of any person to proceed with any transaction. The information contained in these materials has not been independently verified. No representation or warranty, express or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the information presented or contained in these materials. Any forward-looking statements in this presentation are subject to risks and uncertainties that could cause actual results to differ materially from those that may be inferred to being expressed in, or implied by, such statements. Such forward-looking statements are not indicative or guarantees of future performance. Any forward-looking statements, projections and industry data made by third parties included in this presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections. This presentation may not be all inclusive and may not contain all of the information that you may consider material. The information presented or contained in these materials is subject to change without notice and its accuracy is not guaranteed. Neither the Company nor any of its affiliates, advisers or representatives accepts liability whatsoever for any loss howsoever arising from any information presented or contained in these materials.

Cautionary Statement: This presentation uses adjusted profitability numbers (EBITDA) at several places to discuss the financial performance in FY13. This helps readers to appreciate a like-for-like indicative performance, assuming for instance, Holidaybreak business (including 100% of Meininger) was consolidated for the entire year in FY12. Hence, such numbers in the presentation are derived from management accounts, are only indicative in nature and will not be comparable with the actual audited reported results for both FY12 and FY13

THIS PRESENTATION IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR ELSEWHERE. 2

Private and Confidential www.coxandkings.com Contents

About Cox & Kings Limited

C&K Strategy

Financials

Appendix

3

Private and Confidential www.coxandkings.com Private and Confidential www.coxandkings.com

Business Profile

Leisure Travel Education Camping

• Outbound Holidays – both cultural and soft adventure • Residential outdoor trips • Self-Catering family for UK Primary schools holidays on high quality • Inbound Travel (Destination management) • Educational tours around campsites across • Domestic Travel Offerings world for UK secondary • Accomodation in modern • Packaged short-breaks for UK market, Hotels & Bungalow reservations schools mobile homes, stylish for Dutch market • City-centre hotels across tents, chalets/bungalows • Meeting, Incentives, Conferences and Exhibitions (MICE) & Trade Fairs 16 locations in Europe

• PGL & NST cater to UK India school students • Customers from UK, • Retail clients in for Outbound and Domestic business. • Meininger caters to school , • Corporate Travel, Forex & MICE business, Inbound (Ground Handling) groups, families, individual • Campsites at scenic Markets International travellers from Europe and locations, mainly in US and • Outbound Holidays from UK, Australia, New Zealand, Japan, USA, UAE • Hotels located across 5 • Inbound into Europe, Dubai and Singapore countries • /Bookit caters to UK/Dutch customers for domestic holidays.

Portfolio

Sample

5

Private and Confidential www.coxandkings.com Profitability Breakdown

FY13 Revenues – INR 1809cr FY13 adjusted EBITDA – INR 812cr*

27% 35% 35% 24% 55% 47% 21% 23%

18% 18%

Camping Education Leisure India Leisure International Camping Education Leisure India Leisure International

*Assumes 100% EBITDA consolidation (89cr) of Meininger within the Education business. This figure is purely to provide readers with a management estimate of profitability assuming 100% consolidation of Meininger. The figure is only indicative in nature and will not 6 be comparable with the actual audited reported results for FY13 www.coxandkings.com Leisure - India

Leisure travel

Offers products that are either pre-packaged through brochures or tailor-made as per requirements of a group/ individual traveler with a particular focus on cultural

Caters to Outbound, Domestic leisure travel and Destination management services

Popular brands include Duniya Dekho, Bharat Deko, Flexihol, Gaurav Yatra, Anand Yatra and Luxury Escapades. Represent and retail many international third party products including Star Cruises, Rail Europe, Musee Grevin that are bundled into our holiday packages.

High customer recall for customized brands in each travel segment

Work with corporate organizations to cater to all aspects of conference organizing, business meetings, event management, seminars, exhibitions, product launches and incentives. Organize group tours for trade fairs in countries outside India

Leisure travel contributes to c95% of the consolidated revenues. Outbound is the largest revenue segment.

Other offerings Corporate travel: Customized business travel solutions to corporate clients in India through a team of dedicated corporate relationship managers

Foreign exchange services to customers in India as a licensed Category II authorized dealer

Visa processing services as an outsourced business solution to several diplomatic missions 7

Private and Confidential www.coxandkings.com Leisure – International

Europe

 Hotel breaks provides domestic short beak trips through market leading Superbreak (UK) and Bookit (the Netherlands).

Cox & Kings UK is a specialist long-haul tour operator catering to the premium end of UK market

C&K DMS handles destination management activities across Europe for both C&K and non-C&K tours.

Explore is an UK soft adventure leading tour operator. The recently re-launched website caters for international bookings. Edge is a similar product for younger customers in UK.

Regal Dive is a leading UK scuba diving operator.

RoW

Tempo Holidays, acquired in Nov’08, is a mid-market outbound tour operator in Australia. Key Destinations include Middle East and Europe. Customer segment is largely individual travelers, with the group tours division being launched this year. Tours catering to the premium segment has also been launched recently under the “C&K” brand.

C&K US, acquired in Apr’09, is an ultra-premium outbound tour operator catering to celebrity clientele. Traditionally sold only outbound FIT tours earlier. Recently launched group luxury tours. Key destinations include Africa, Latin America, Asia and Middle East.

C&K Dubai operates as mid-market outbound and inbound tour operator. C&K has a presence in the Far East through destination management operations in Singapore.

C&K Japan is a wholesaler selling white label packages to other outbound tour operators. Sells mostly FIT products, catering to business delegations, honeymooners and young single women. Outbound destinations include India, Dubai, New Caledonia, Maldives 8

Private and Confidential www.coxandkings.com Education Business

PGL Meininger

Leading provider of residential outdoor trips, providing Hostel for young urban travellers offering superior curriculum-based activity tours to about 300k students amenities & service standards at affordable prices aged 8-12 from across 5000 schools in UK. Hotel used by Groups (school groups, universities, .15 centres in UK (~7100 beds), 7 in France (~1600 clubs) including student tours by NST. Also used by beds), 1 in . individual travellers (businessmen, families, backpacker)

Students visit the centres during Feb-Oct period 7340 beds across 16 city centre tourist locations except school holidays (off-peak). Typical tour duration (including 11 in Germany and 4 in ). is 3-5 days Configurations vary from 2-8 beds per room.

NST Others

Market Leader providing educational travel tours for EST provides educational tours for further education schools and colleges in UK and Ireland. students.

Target group is primarily students aged 11-16. NST EST specializes in study visits and student carries over 100k students each year conferences for students aged over 16

Tours organized to several domestic and overseas Travelplus provides accommodations for UK/German destinations, typically for 5 days. Tours encompass a students seeking gap-year placements broad range of curriculum topics; e.g.; drama, music, history, foreign language immersion

9

Private and Confidential www.coxandkings.com Camping Business

Eurocamp & Keycamp Other Brands

Market leading brands providing self-catering holidays Ecamp offers value focused holidays in campsite in pre-sited Mobile Homes (~7000) and tents/chalets owned mobile homes. sell independent third party (~1500). Typical trip duration of 9-10 days. holidays in Europe.

Eurocamp Independent and Select Sites are specialist Camping sites predominantly in France and Italy. In campsite reservation service for UK customers. total ~180 locations in Europe.

Essentially a 4 star product, with good facilities including restaurants and even golf courses at some sites

UK is the largest customer base. Netherlands, Germany, Ireland are amongst other markets

Key customers are Families (peak season of Jul/Aug school summer holidays) and affluent professionals.

10

Private and Confidential www.coxandkings.com C&K Group - Key strengths

One of the largest travel and tour companies in India with a strong brand recall

Bouquet of market leading brands across various geographies

Expansive distribution network across our operations worldwide

Track record of growing our business by successfully completing and integrating acquisitions

Strong technology platform

Experienced management team

11

Private and Confidential www.coxandkings.com 1.Strong presence in Indian Leisure market

Past Performance – 5 Yr CAGR • Leading leisure tour operator in India with strong Fig in INR Cr presence in Outbound and Domestic. 350 296 • Built compelling customer offerings and wide 300 236 distribution network over the last decade. 250 200 176 • Strong brand position reaffirmed through several 155 144 150 118 119 89 84 industry recognitions 100 71 52 38 • Robust financial performance; 5 Yr CAGR – 50 Revenues (27%), EBITDA (30%) 0 FY07 FY08 FY09 FY10 FY11 FY12

Net Revenues EBITDA Select Awards & Accolades

“Best Outbound Tour Operator”, Hospitality India & Explore the World Annual International Awards, 2012 “Best Domestic Tour Operator” & “Best Travel Company”, TAAI Travel Awards, 2012 “Most Entrepreneurial Travel Company”, TTG Travel Awards, October 2011 “Best Inbound Tour Operator from UK”, Ministry of Tourism, 2012-13 “PATA Gold Award 2012 in the Marketing Media - Consumer Travel Brochure (BR) category for “Luxury Escapade”

INR:USD conversion at 55 12 Private and Confidential www.coxandkings.com

2.Bouquet of market leading brands globally

Leisure Business

C&K UK - “Best Luxury Operator”, Globe Travel Awards, 2012 C&K UK - “Best Specialist All Inclusive Tour Operator”, British Travel Awards, 2011

C&K UK - Compass magazine shortlisted for the Consumer Travel Publication of the Year, British Travel Press Awards, 2012

C&K US - “‘One of the best tour operators for Africa”, Travel+Leisure World’s Best Awards 2012

“Best Overall Escorted Experience Tour Operator for Promoting Responsible Tourism”, British Travel Awards, 2012 “Star Adventure/Activity Holidays Specialist”, Travel Bulletin Star Awards, 2012

“Best Operator UK Holidays”, Travel Weekly, 2013 “Best Short Break Operator” & “Best Hotel Booking Company”, Scottish Passenger Agents Association (SPAA) Annual Travel Awards, 2012

Education Business “Winner - For our outstanding contribution towards supporting young people through the power of PE and sport”, Youth Sport Trust Business Awards , 2012 “Best Youth Operator to France, 2012”, Atout France, the Tourism Development Agency of France

Camping Business “Best Overall Camping & Mobile Tour Operator & Best Medium Family Tour Operator”, British Travel Awards, 2012

“Travel Agents Choice Awards”, BMI Publishing 2011 13

Private and Confidential www.coxandkings.com 3.Expansive distribution network across our operations

Healthy mix of direct sales channels and third party channels across all our operations Direct sales channels

Strong retail presence in India Direct sales through call centres across all geographies

Over 150 Franchise Sales Shops & 12 branches Direct Sales into schools (for PGL/NST) and student tour across 100+ towns/cities North operators (for Meininger) 37 Strong online platforms like East West 15 24 – Weekendjeweg.nl – superbreak.com, – Djoser.nl – eurocamp.co.uk,

South – explore.co.uk – meininger-hotels.com 34 # Map indicates no. of cities/towns

Third party channels Distribution through High Street agents in India, Europe and Australia Affiliate partnership programme like Royal Academy of Arts Specialist channels like Virtuoso (US), Radius Inc.

14

Private and Confidential www.coxandkings.com 4.Past Acquisitions – Successfully Integrated • Consistently enhanced shareholders value through large overseas acquisitions – Successfully integrated past acquisitions including Tempo Holidays (Australia) and East India Travel (US) – C&K Consolidated Strong 3 Yr CAGR Growth (FY08-FY11) in Revenues (39%), EBITDA (46%) and PAT (45%)

• Key acquisition rationale - Consolidated Buying and Cross Selling

Cox & Kings Destination Management Services (Formerly ETN Services) • Provides destination management services into Europe. Since the acquisition, the company has FY2006 improved the Group’s purchasing power through consolidation of C&K India and Australia’s traffic into the region

Tempo Holidays PTY, Australia; Tempo Holidays NZ Ltd., New Zealand FY2009 • Specialized outbound tours for mid-market segment in Australia and New Zealand. Since acquisition, C&K has successfully introduced the premium “Cox & Kings” brand into the market

East India Travel Company Inc, USA FY2010 *Ultra-premium FIT outbound tour operator in US. Since acquisition, C&K rolled out the premium Group into the market, similar to our product in C&K UK.

15

Private and Confidential www.coxandkings.com 5.Technology prowess

Integrated Technology Top end enterprise softwares platforms

Support for all services Strong data security

Technology enables a centralized dynamic packaging system

Improves efficiency and reduces Turn Around Time: Dynamic designing of packages; increase in business handled per employee Seamless integration of operations of acquired entities across geographies driving significant competitive advantage Ability to introduce white label/ co-branded offerings for clients such as Jet Escapes

16

Private and Confidential www.coxandkings.com 6. Corporate Leadership

Peter Kerkar Urrshila Kerkar Jenny Hand Greg Osborne

• Promoter & Non Executive Director • Promoter & Executive Director • Director, C&K UK • CEO, C&K Australia • Joined Cox & Kings Travel Ltd. in • In charge of UK Senior Managers • Deep travel trade experience of • Responsible for day-to-day 1986 as a General Manager of Sales, Product, Commercial ~40 years management at C&K India, and Business Resources • On the board of C&K since 1993 marketing & design initiatives at • Setup the C&K New Zealand • Responsible for overall leadership, the Group • Joined C&K as product manager office. strategy, global centralized buying in 1990 • Prior to her current role, she was and international growth running a graphic design and • Founder member & director of World production house Tourism Council for the Indian Subcontinent

John Firth Steve Whitfield Karel Vos Ashley Toft

• Commercial Director, Education • Managing Director, Camping • Managing Director, Hotel Breaks • Managing Director, Explore • Responsible for sales, marketing, • Joined the Board of Eurocamp Travel • Joined Bookit in 2000 as co- • 25 years experience, joined product development and in 1989 and appointed MD in 1993, initiator of Weekendjeweg.nl Explore as a tour leader in 1988 contracting at PGL/NST • He began his career in Eurocamp as a • Earlier experience include • Headed all functions of the • Joined in 1990 as School Tours summer employee back in 1984 Renaissance hotel in Jerusalem, business over the last two Product Manager. Appointed to Gran Dorado Parcs & Hotels, decades. the PGL board in April 1997 Reserveerlijn.

Cox & Kings Group currently employs ~6000 employees across the Asia Pacific region, Europe, the Middle East and North America 17

Private and Confidential www.coxandkings.com Private and Confidential www.coxandkings.com Corporate Vision

• Consolidate the leadership position as an integrated tour operator in India Leisure • Operate as a profitable specialist tour operator across other overseas geographies

• Be a leading student tour operator across UK, India and Australia Education (PGL, NST) • Emerge as the preferred student accommodation provider across Europe (Meininger)

FY16 - Target USD 490 – 510 mn Net Revenues (3yr CAGR: 15% - 16%) ROE 19% – 21%

Net Debt/Equity < 1.0 19

Private and Confidential www.coxandkings.com Consolidate presence in Indian Leisure market

Emergence of aspirational young workforce Shift from unorganized Rising Disposable to organized incomes

Growth Drivers

Past Performance – 5 Yr CAGR India Leisure Market

(Fig in USD Mn) FY16e – USD 8.1bn 80 FY12 – USD 5.2bn 68 7.0% 70 4.3% 13.0% 60 54 8.7% 50 43 40 32 34 28 26 30 21 22 20 13 15 80.0% 9 87.0% 10 0 FY08 FY09 FY10 FY11 FY12 FY13 C&K Other Organized TO Unorganized C&K Other Organized TO Unorganized

Net Revenues EBITDA 4yr CAGR (FY12 –FY16e) Source: Euromonitor, Company Estimates Total Market – 12% ; Organized Market – 24% ; INR:USD conversion at 55 Cox & Kings – 26% 20 Private and Confidential www.coxandkings.com Dominant Education Player - UK

Deeper penetration with UK & Europe

Consolidation of the Rise in student LEA run centers population in UK* Growth Drivers

*Based on a report published by Department of Education – UK, Nursery and primary school students are projected to be 8% higher in 2014 than in 2010 and by 2017 numbers are projected to reach levels last seen in the late 1970s

Consolidate the leadership position in the UK Education market

FY12 – USD 720mn FY16e – USD 830mn

27% 29% 4yr CAGR (FY12 –FY16e) Total Market – 4% 73% Cox & Kings – 5% 71%

C&K Others C&K Others 21 Source: Market Intelligence, Company Estimates Private and Confidential www.coxandkings.com C&K - Group strategy

• Build market share in the largely fragmented travel market in India Consolidate our • Expand franchise network within India and boost agent network/call centre support globally presence in the leisure travel • Leverage our global platform to cross sell our products in other geographies segment • Continue to consolidate product sourcing operations globally. Higher volumes will lead to better bargaining power with suppliers

Grow the Education • Expand Education brands in Europe and introduce PGL & NST like business in product in India and Australia newer • Introduce Meininger properties to customers in existing C&K markets geographies

22

Private and Confidential www.coxandkings.com Private and Confidential www.coxandkings.com Consolidated Financials - Snapshot

Year ending March FY09 FY10 FY11 FY12* FY13 (Fig in INR Cr)

Rev 287 399 497 838 1809

% Growth 58% 39% 24% 69% 158%

EBITDA 121 186 230 167 722

% Margins 42.2% 46.6% 46.3% 20.0% 40.0%

PAT 63 134 129 42 248

Shareholders Funds# 227 810 1,208 1192 1868

Total Debt 354 504 844 4662 4676

Cash 63 375 961 1053 1269

Net Debt 291 129 -117 3609 3407

*Holidaybreak (HBR) was acquired in Sep’11 and consolidated for 6 months into FY12 financials. HBR is a highly seasonal business with all its profitability coming from Apr-Sep period while the Oct-Mar period is a loss-making six months. # Shareholders Funds includes Minority Interest of 542cr in FY13 attributed to Citi Venture Capital International (CVCI) . During the year, Prometheon Holdings (UK) Limited, holding 100% in Holidaybreak Limited, completed an equity deal with CVCI. 24

Private and Confidential www.coxandkings.com FY13 Results - Summary Fig in INR Cr FY12* FY13 % Change Revenues Leisure India 296 372 26% Leisure International 576 608 6% Education 449 491 9% Camping 345 321 -7% Others# 15 18 Total 1681 1809 8% EBITDA Leisure India 144 186 29% Leisure International 208 208 0% Education 227^ 286^ 26% Camping 131 148 13% Others# -21 -17 Total 690 812 18%

* Proforma numbers derived from management accounts for representation purpose. The numbers are only indicative in nature and will not be comparable with the actual audited reported results for FY12. # Others constitute mainly of Outsourced Visa Processing Operations ^Education business including 100% Meininger EBITDA, derived from management accounts for representation purpose. 25 Private and Confidential www.coxandkings.com FY13 Results - Commentary

• India – – FY13 Growth : Revenue - 26%, EBITDA - 29% – Robust growth in outbound and domestic; driven by both leisure retail and MICE segment. Flattish inbound season. – Increased business from franchise outlets; encouraging sales volume through call centre – Working Capital cycle with Corporates flexed to build market share – Industry Trend: A growing holidays market; Customers taking multiple weekend breaks apart from one annual holiday; Market share gain from unorganized segment

• International – – FY13 Growth : Revenue - 6%, EBITDA – Flat – Europe business (C&K UK, Hotelbreaks, CKDMS, Explore) fared well despite economic challenges – Dubai business performs well in both inbound business (primarily Indian traffic into Dubai) and outbound (NRI) business. – US business saw good growth, with increased distribution of the “Small Group Tours” – Soft trading in Australia – Japan continued to face headwinds, reporting a small loss. 26 Private and Confidential www.coxandkings.com FY13 Results - Commentary

• Education – – FY13 Growth : Revenue - 9%, EBITDA - 22% (26% including Meininger) – PGL further consolidated its market share among UK primary schools; achieved cost efficiencies by closing 2 small centres (~300beds); and diverting business into larger centres – Meininger registered high growth; saw higher occupancies in existing hotels; opening of 2 new hotels – Closed two smaller hotels in Berlin (~450beds) for cost efficiencies; replacing with signup of a larger 830 bed hotel

• Camping - – FY13 Growth : Revenue - (7)%, EBITDA – 13% – Revenue declined as Camping business was impacted by the London Olympics. – Several UK customers, the largest and most profitable market for Camping, decided to stay back for the Olympics thus impacting sales. – However, aggressive cost efficiency measures to offset that.

27 Private and Confidential www.coxandkings.com Holidaybreak Synergies – Progress so Far

Consolidation Cross Selling

 Consolidated airline volumes across the Group  Explore distributed through C&K Australia, in FY13 encouraging offtake

 Benefits to accrue in FY14

 Ground handling operations for Explore in key  Meininger property sold to Indian customers in destinations (India, Egypt) with existing C&K for trade shows / events in Germany operations expanded margins in FY13

 Further benefit expected this year

 Hotel consolidation across the Group  Enhanced product portfolio at Hotelbreaks (overseas shortbreak European destinations),  Will translate into cost savings in FY14 upgraded IT platform, increased package sales

Private and Confidential www.coxandkings.com FY14 Business Outlook

• We remain very bullish about the growth in India business. • Franchise & call centre to drive retail customer growth in domestic and outbound holidays • MICE business will continue to grow. Tightening credit expected for corporates & corporate credit card offtake will release working capital.

• Leisure Intl expected to bounce back to growth • Superbreak, the largest business operations within Leisure Intl, is getting strong forward bookings this year. The business has benefited from synergy efforts achieved in FY13. • Dubai and US business to continue its good performance. • UK and Australia markets also seeing better traction this year.

• Education Division • Business should continue to grow well. High visibility of PGL customer bookings already for FY14 • Meininger should continue to grow strongly, targeting to increase existing hotel occupancy. Opened a new 720 bed hotel in Brussels in May 2013. Increased traffic expected from India

• Camping Division • Strong forward bookings for FY14. Validates our understanding that FY13 decline was one-off in nature • Strong focus on controlling marketing, IT and operational costs by driving better synergies between existing brands

29

Private and Confidential www.coxandkings.com Private and Confidential www.coxandkings.com Holidaybreak – A transformational Acquisition

Acquisition Rationale Debt Profile

• In Sep 2011 Cox & Kings completed the acquisition of Holidaybreak for a total consideration of ~$530mm Holidaybreak is a market leader in its niche travel segments, with experienced management and strong cash flows. • Additional debt taken on by C&K for the acquisition:

– Acquisition Debt of $200mm (post CVCI investment) at Prometheon Holdings

• 7.5 year term loan with ballooning repayment The acquisition provides Holidaybreak with a platform to expand internationally by offering the company's products to • Interest Rate of Libor + 500bps C&K customers in India and rest of Asia • 1st repayment of $10mm in July 2013

• Final repayment of $22mm in Jul 2019 Holidaybreak adds new product areas and markets which – Total Debt Facility of £230mm at Holidaybreak Limited provide us with attractive opportunities to leverage Cox and Kings' global network and accelerate the development of both • Mix of Term Loan (TL), Revolving Credit and Bonding businesses Facilities due for renewal in September 2015

• Outstanding amount at Mar’13 is £200mm with TL Repayments of £10mm each in June 2013, 2014 and International business helps company build scale 2015

• Interest Rate of Libor + Margin, with margin range of 250-375bps, depending on a gearing test on a semi annual basis

22 Private and Confidential www.coxandkings.com Holidaybreak – A large European tour operator

• Annual booking volumes of c20,000pax at Explore Adventure • Average booking value is Gbp1000-2000

• About 0.5mn and 0.4mn annual bookings at Superbreak and Hotel Breaks Bookit respectively • Average booking value is Gbp150-250

• Nearly 1mn booking nights each at PGL and Meininger Education • Average revenue per pax of Gbp150-300 for PGL and Eur20-30 at Meininger

• Annual Booking volumes of ~98k Camping • Average booking value of Gbp800-900

32

Private and Confidential www.coxandkings.com Profile of Select PGL Centres (All owned) Capacity Area Name Region/City Description (beds) (in acres) Mansion house; lodges and tented village for accommodation. Indoor pool and 2 indoor sports halls; 20 foot sandstone wall for abseiling; lakes. Boreatton Park 1021 250 Numerous activities including high ropes; quad biking; canoeing; initiative exercises Former conference centre; netball courts & football pitches; lake; woodland. Liddington 600 150 22 activities including crate and vertical challenges Craigvinean Lodge; 18th century mansion house; close to Loch Tay; woodland Dalguise Perthshire 475 50 environment; sports dome. 23 activities including orienteering; quad biking; kayaking Mansion house and lodges; onsite lake; woodland environment. 19 activities Winmarleigh Hall 308 50 including raft building; bouldering wall Purpose built lake; mansion house / lodges; tent villages. 21 activities Caythorpe Court 790 65 including high ropes; canoeing; trapeze Accommodation in main house and lodges; outdoor heated swimming pool; Barton Hall 711 46 lake; dry ski slope; classrooms and ICT suites. 19 activities including fencing and crate challenge Accommodation in lodges; located by the sea with private beach; Osmington Bay 804 45 watersports at Weymouth Olympic Centre; sports hall. 24 activities including tunnel trail. Pond dipping lake used by Field Studies groups Accommodation in log cabins or Woodlands House; both sleep up to 8. Little Canada 722 48 Indoor heated swimming pool; 28 activities including a challenge course and dragon boating, Main house and accommodation lodges; sports hall (2k sqm); outdoor Windmill Hill 462 21 heated swimming pool. 19 activities including initiative exercises and archery. Optional day trip to France available Chateau de Grande 310 70 Ensuite accommodation. Swimming pool; tennis courts; basketball courts; Romaine football pitch. The centre has 13 activities for young kids Note: In total 8900 beds in 23 centres including 19 owned centres spread over 1000acres with book value of ₤140m 33 Private and Confidential www.coxandkings.com Meininger – List of Hotels

Opening S.No. Site Locations Country Month/Year No. of rooms No. of beds 1 Munich Germany Sep-04 94 447 2 Cologne Germany May-06 52 184 3 London UK Oct-06 47 256 4 Vienna City Austria Sep-07 68 299 5 Berlin Prenzlauer Berg Germany Apr-08 90 328 6 Hamburg Germany Apr-09 116 589 7 Berlin Central Station Germany Oct-09 296 848 8 Frankfurt Germany Apr-10 163 387 9 Salzburg Austria May-11 101 426 10 Berlin Oranienburgerstr Germany Aug-11 118 430 11 Vienna Downtown Austria Oct-11 131 484 12 Vienna Schiffamt Austria Nov-11 103 297 13 Frankfurt Airport Germany Jan-12 168 436 14 Berlin Airport Germany Apr-12 156 468 15 Amsterdam Netherlands Jul-12 219 737 16 Brussels Belgium May-13 170 719 Total 2100 7340

34

Private and Confidential www.coxandkings.com Camping Assets - Summary

No. of Sites Mobile Tents Chalets Treehouse Homes

France 116 5041 800 116 15

Italy 46 1655 314 25

Switzerland 3 51 15

Austria 3 44 8

Germany 3 45 9

Holland 3 192 15

Luxembourg 1 20

Croatia 2 47 22

Portugal 2 33

Total 179 7128 1183 141 15

Eurocamp/Keycamp offers ~8500 camping accommodations across 179 sites in 9 countries 35

Private and Confidential www.coxandkings.com Thank You

For further details, please contact: Cox & Kings Ltd, Turner Morrison Building, 16 Bank Street, Fort, Mumbai - 400 001 Website: www.coxandkings.com Email: [email protected]

Private and Confidential www.coxandkings.com