Company Profile – YE20 MINT – Vision To be a leader in delivering exceptional experiences that anticipate and satisfy customers’ aspirations and positively impact stakeholders People Customer-Focused Results-Oriented Innovative Partnership Development 2 MINT – Key Milestones Acquired 2015 Increased 7 hotels 2010-11 investment in Invested in 100% stake Increased Increased investment in investment in 69.2% stake 31% stake Increased Launched investment in 70% stake Launched Acquired additional stake Launched 2016 2000-01 Acquired from 100% stake in hotels in Africa Launched Acquired Invested in Remaining 7 hotels & brand 2012-13 49% stake Acquired 2003 M&A of RGR and 2017 MFG to become Invested in 74% stake Acquired the 1978 Founded 11% stake 2020 operating company to operate high-end Acquired properties in Europe Invested in Acquired 2018 94% stake 1978 Founded 2008 50% stake 2014 in Australia previously under the Increased Boscolo portfolio Invested in JV with investment in 70% stake Rights offering To invest in African 100% stake issuance 1982 Founded Invested in Assets Acquired 50% stake THB 10 billion Invested 49% stake in 75% stake RGR, MFG and Completed group business hotel & mixed-use Increased investment 1988-89 Invested in 2009 restructuring; project in Maputo, 2019 in MINOR listed on In Thailand 25% stake Delisted Mozambique Early Late 1970s-90s 2000s 2020s 2010s 2010s 3 MINT – Today 2020 REVENUE CONTRIBUTION MINOR HOTELS MINOR FOOD Minor Lifestyle Hotel Casual Dining Restaurants 6% Minor Food • Equity-Owned & Leased • Equity-Owned 36% • Hotel and Serviced Suites • Franchised Management Manufacturing THB 58,118 • Spa • Cheese & Ice-cream million Mixed-Use • Ice-cream Ingredients • Plaza & Entertainment and Toppings Minor Hotels • Residential Development • Coffee Roasting 58% • Point-Based Vacation Club *Core operations, excluding non-recurring items Shared Services 4 MINT – Footprint MINT today has a global presence with 532 hotels and serviced suites, 2,370 restaurant outlets and 459 retail points of sale in 63 countries. TheTHEAmericas AMERICAS EuropeEUROPE Asia ASIAPacific PACIFIC Canada Andorra Australia USA Austria Cambodia Argentina Belgium China Brazil Czech Republic India Chile France Indonesia Colombia Germany South Korea Cuba Ecuador Hungary Laos Haiti Italy Malaysia Mexico Ireland Maldives Uruguay Luxemburg Myanmar Netherlands New Zealand Poland Pakistan Africa AFRICA Portugal Singapore Botswana Romania Sri Lanka Kenya Slovakia Thailand Lesotho Spain Vietnam Thailand Mozambique Switzerland 37% Namibia UK Seychelles Middle East MIDDLE EAST 2020 Tanzania REVENUE Tunisia Bahrain Oman CONTRIBUTION Egypt Saudi Arabia Qatar Zambia Kuwait UAE Overseas Mauritius Lebanon 63% Minor Hotels Minor Food Minor Lifestyle 5 The leading hospitality partner maximizing shareholder value Minor Hotels Hotel Portfolio – 532 Properties; 75,638 Rooms Minor Hotels has a very diversified portfolio, in terms of brands, ownership structure and geography. Over 90% of the rooms today are under Minor Hotels’ own brands. Owned & leased hotel portfolio is the main driver, while management letting rights (MLR) business model provides stable growth, and management contracts and mixed-use business help with the overall profitability. Europe is the major contributor in terms of geography. SYSTEM-WIDE ROOM CONTRIBUTION SYSTEM-WIDE ROOM CONTRIBUTION SYSTEM-WIDE ROOM CONTRIBUTION By Brand By Ownership By Geography Others MLR Middle East & Asia 3% 8% 9% Africa 7% 10% 9% Owned 7% Oceania 9% 2% Managed 25% 4% 17% 75,638 75,638 Americas 11% 75,638 18% rooms JV 2% Rooms Rooms Leased Europe 48% 47% 63% 2020 REVENUE CONTRIBUTION 2020 REVENUE CONTRIBUTION 2020 REVENUE CONTRIBUTION By Brand By Business By Geography Others 10% Mixed-use Others Thailand 8% 7% 3% MLR Maldives & 9% 13% 5% 12% Middle East 3% 13% Managed Australia & New 3% Zealand 12% Americas 5% Owned & Europe 61% Leased 58% 78% 7 Anantara – Life is a Journey A luxury hospitality brand for modern travelers, connecting them to genuine places, people and stories through personal experiences, and providing heartfelt hospitality in the world’s most exciting destinations. 8 Contemporary Accommodation for All Occasions A unique blend of city hotels in central locations and resort-style accommodation in tourist destinations. For both short and longer stays, families and groups enjoy friendly service, superior accommodation and Avani hotels are perfecting quality onsite leisure facilities. the balance between work and play, design and function, service and privacy, laid-back and lavish. Our city and resort destinations pulse with life, emanating from our buzzy social spaces and extending throughout the hotels. 9 NH Hotel Group – A Leading European Hospitality NH Collection showcases captivating hotels housed in authentic NH Hotels offers trustworthy experiences based on three main and unique landmark buildings in key cities of Europe and Latin pillars: value for money, the best location to connect with the America. city, and service with a human touch. Hotels that are unconventional and cosmopolitan, each with a unique personality in major international cities. 1010 Boutique Hotel Brands with Unique Luxury Experience Encompassing a diverse hotel portfolio with unique personalities and facilities, Tivoli combines local teams, convenient services and unique experiences to reveal the authenticity of each destination, be it a multicultural thriving city or leading beach paradise. Each of the camps, lodges and hotels offers unique accommodations of exceptional comfort. Their iconic locations provide any discerning world-traveller one of the most rewarding experiences they could wish for; close to all the drama and spectacle of African wildlife. 11 Rapid Expansion of Hotel Portfolio Over the past five years up to 2019, the number of hotels more than quadrupled, while revenue increased by over 5 times. Minor Hotels expanded its portfolio through both organic expansion and acquisitions, increasing both in terms of brand portfolio and geographies. However, 2020 was an unusually challenging year with the COVID-19 outbreak. TSS THB 108 billion Revenue THB 88 billion TSS THB 42 billion TSS THB 30 billion Revenue THB 15 billion Revenue THB 34 billion 2014 2019 2020 32 42 46 12 32 33 51 59 63 8 16 16 16 16 354 342 Others 16 16 16 Total No of Hotels 119 535 532 No of Countries 22 57 55 12 Mixed-use Business Residential Property Anantara Vacation Club Plaza & Entertainment Development 13 Ensuring Pipeline to Accommodate Growth Minor Hotels continues to build the pipeline of both residential development and Anantara Vacation Club, in order to ensure sufficient inventory to accommodate future sales. Layan Anantara Anantara Anantara St. Regis Avadina Hills The Estates Residences Torres Rani, Chiang Mai Desaru Ubud Silom Office, Residences by Anantara, Samui by Anantara, Maputo Serviced Residences, Residences, Bangkok Residential Development Residential Bangkok Phuket Suites Phuket Malaysia Indonesia 2006 2010 2011 2012 2013 2015 2016 2018 2020 2021 2023 Launched Launched Launched Launched 3 AVC 2 AVC 1 AVC 1 AVC Destinations Destinations Destination Destination Samui, Phuket, Bali, Bangkok Sanya Chiang Mai Queenstown Vacation Club Vacation Anantara 14 Minor Hotels – Financial Performance THB million 94,189 50,577 Revenue 27,758 30,970 33,846 18,803 11,947 7,146 7,685 EBITDA -11,077 EBITDA Margin 25.7% 24.8% 23.6% 20.0% NM 2,811 3,375 4,077 5,783 NPAT -18,739 Net Margin 10.1% 10.9% 8.1% 6.1% NM 2016 2017 2018 2019 2020 Note: Core operations, excluding non-recurring items and excluding the impact of TFRS16 (in 2020) 15 To be a leading food operator maximizing stakeholders’ value Minor Food Restaurant Portfolio – 2,370 Outlets Minor Food’s restaurant portfolio is well-diversified, both in terms of brands and ownership. Its business is primarily in Thailand, with China as a potential growth driver and Australia as the hub with stable operations. SYSTEM-WIDE OUTLET CONTRIBUTION SYSTEM-WIDE OUTLET CONTRIBUTION SYSTEM-WIDE OUTLET CONTRIBUTION By Brand By Ownership By Hub Others Others 1% 3% China 5% 6% 3% Franchised 5% 24% 50% 19% Australia 2,370 2,370 15% 2,370 outlets Outlets Outlets 4% 14% Owned Thailand 5% 3% 50% 74% 21% 2020 REVENUE CONTRIBUTION 2020 REVENUE CONTRIBUTION 2020 REVENUE CONTRIBUTION By Brand By Ownership By Hub Others 12% Others Franchised 6% 9% 1% 23% China 11% 14% THB 20,684 7% 7% million Australia 8% 10% 11% Owned Thailand 94% 5% 67% 7% 8% 17 Minor Food Brands 18 Minor Food Brands 19 Manufacturing Business Two manufacturing plants in Thailand producing over Coffee roasting factory in Australia 20,000 tons of cheese and ice cream per annum Manufacturing of ice-cream ingredients and toppings Production of ready-to-eat and frozen bakery products 20 Growth Driven by Selective Outlet Expansion Minor Food continues to grow its number of outlets, keeping a well-balanced mix of brands, ownership and geographies. TSS THB 44 billion TSS THB 38 billion TSS THB 36 billion Revenue THB 24 billion Revenue THB 21 billion Revenue THB 17 billion 2014 2019 2020 322 570 572 306 322 326 53 65 63 387 522 496 42 121 118 427 481 440 88 90 82 44 91 112 46 89 19 19 Others 39 50 53 Total No of Outlets 1,708 2,377 2,370 No of Countries 21 26 26 21 Minor Food – Financial Performance THB million 24,233 23,582 23,022 23,484 20,684 Revenue 4,285 3,843 3,647 3,527 2,583 EBITDA EBITDA Margin 16.7% 18.2% 15.5% 14.6% 12.5% 1,913 1,684 1,521 1,210 NPAT 278 Net Margin 7.3% 8.1% 6.5% 5.0% 1.3% 2016 2017 2018 2019 2020 Note: Core operations, excluding non-recurring items and excluding the impact of TFRS16 (in 2020) 22 Others – Minor Lifestyle Portfolio – 2020 FASHION Outlets Outlets 110 7 78 4 80 36 44 Total 359 LIFESTYLE CONTRACT MANUFACTURING Outlets 27 25 23 Manufacturing of acid-based fast-moving consumer goods - 25 Total 100 64K Tons / Year 23 Key Financial Highlights MINT – Resiliency Since 2000, Thailand has gone through several challenges, driven by both domestic and global factors.