Pestana Group is celebrating more than 45 years since the opening of its first hotel in Madeira in 1972. The continued strong financial performance of the Group during the last 4 decades has allowed a strategy of dynamic growth and expansion. 10 YEAR HISTORY OF PESTANA PROJECTS SINCE 2009 2009 ● Opening of Pestana Promenade Hotel with 237 hotel rooms and Vacation Club apartments. ● Opening of Pestana Bahia Lodge with 93 apartments in Salvador, Brazil. ● Opening of a new Pousada in Viseu, northern Portugal with 84 rooms. ● Opening of two historical Pousadas in Estôi in the Algarve and Freixo in Porto with 63 rooms and 88 rooms respectively. ● Opening of Pestana Chelsea Bridge Hotel in London with 218 rooms and suites. 2010 ● Completion of Pestana Berlin with 142 rooms and suites. ● Addition of Pestana Vila Sol Hotel in Vilamoura to the portfolio of Pestana Hotels & Golf Resorts in the Algarve. ● Contract signed to develop and manage hotel in Montevideo in Uruguay. 2011 ● Launch of Troia Eco Resort including both real estate and a hotel in an exclusive 100 hectare private resort with 2 Kilometres of pristine sea frontage. ● Expansion of Pestana Tropico Hotel in Cabo Verde to double its capacity to 92 rooms. ● Acquisition of a classified historical building in Baixa, Lisbon and its conversion into an 80 room boutique hotel. ● Acquisition of a historical building in Lisbon’s famous square, Praça do Comércio, and its conversion into an 86 room Pousada. ● Construction of 10 exclusive seafront villas adjoining Pestana Bazaruto Lodge in Mozambique. 2012 ● Opening of Pousada de Cascais where an historical fort has been converted into luxury accommodation. ● Opening of Pestana Bogotà 100 in Colombia, South America which is a design hotel with 82 rooms and suites. ● Acquisition of an old sanatorium in Covilhã, north Portugal which is undergoing a conversion into a 100 room Pousada hotel. ● Completion of the first phase of 38 holiday homes at Pestana Tróia Eco Resort. ● Acquisition of an historical building adjoining Pestana Porto Hotel in order to double the hotel’s room capacity. 2013 ● Opening of Pestana Miami Hotel in South Beach with 99 rooms and suites. ● Opening of Pestana Casablanca in Morocco which forms part of a mixed use complex designed by Sir Norman Foster. ● Launch of the second phase of 40 holiday homes in Pestana Tróia Eco Resort. ● Opening of the Pestana Cayo Coco Beach Resort with 508 rooms, located on one of Cuba’s finest beaches. ● Opening of Pestana Arena Hotel in Barcelona with 84 rooms, situated in the cosmopolitan and cultural capital of Catalonia, the hotel is close to popular tourist attractions that include The National Museum of Art in Catalonia and the Montjuic Olympic Park. 2014 ● Launch of Pestana Amsterdam Hotel which will have a 5 star classification and will include 157 rooms. Projected opening during 2017, the hotel will be located in Amsteldijk, a prestigious area close to the historic centre of Amsterdam. ● Opening of the 5 star ‘All Inclusive’ resort ‐ Pestana Colombos with 100 rooms and suites on the island of Porto Santo. ● Acquisition of a classified historical building on Rua da Prata, close to the Praça do Comércio in Lisbon. To be converted into a Boutique hotel with 88 rooms. ● Acquisition of a 101 room hotel in the Azores on the island of São Miguel. 2015 ● Purchase of a hotel site on 34th Street in New York. The hotel with 176 rooms is due to open in 2019. ● Conversion of an historic building in the famous Plaza Mayor in Madrid into a 5 star hotel with 90 rooms, to be branded Pestana Madrid. ● Opening of the Pousada de Lisboa in the historic centre of Lisbon with 90 rooms. ● Extension of the Pestana Vintage Porto hotel to 106 rooms and suites. ● Opening of the beachfront Pestana Alvor South Beach hotel in Algarve with 80 rooms. 2016 ● World famous footballer- Cristiano Ronaldo and Pestana Group signed a joint cooperation agreement to open four Lifestyle hotels that combined his CR7 brand with Pestana Hotels. The hotels will be located in Funchal, Lisbon, Madrid and New York; the first opened in August in Madeira- the birthplace of both Pestana and Ronaldo, followed shortly after by the Lisbon CR7. ● Opening of the 66 room 4 star Pestana Race Hotel located within the Algarve International Raceway near Portimão. ● Opening of the 4 star Pestana Ilha Dourada resort on the island of Porto Santo, consisting of 50 luxury villas and suites. ● Opening of the 4 star, 101 room Pestana Bahia Praia located on the island of São Miguel in the Azores. 2017 ● Opening in Madeira of the 77 room Pestana Casino Studios adjoining the 5 star Pestana Casino Park Hotel. ● Opening of a 20 room golf hotel in Gramacho, Algarve which will also feature 34 apartments in real estate. ● Opening in Funchal, Madeira of the Pestana Royal Hotel with 324 rooms. ● Concession to build a 50 room hotel in the bay of Camara de Lobos, Madeira to be named Pestana Churchill Hotel 2018 ● Opening of the five star Pestana Amsterdam in Holland with 154 rooms and suites, located in the historic centre of the city. ● Opening of the luxury 90 room five star Pestana Porto ‐ A Brasileira in the historic centre of Porto. • Launch of Pestana CR7 Lifestyle Hotel in Marrakesh, Morocco, with 125 suites. Opening in 2020. ● Three hotels opening in New York by 2020. The 177 room Pestana CR7 in 2020 and both the 109 room Pestana Newark & 95 room Pestana New York opening in 2019. ● Opening of the Pestana Plaza Mayor, an 89 room, 5 star hotel located in Madrid’s world famous Plaza Mayor. ● Opening of the Pestana CR7 Madrid with 164 rooms, located in Gran Via. ● Three projects underway in Porto, a 165 room hotel on the Rio Douro adjacent to Pestana Palácio do Freixo to open in 2020, an 87 room Pousada to open in 2019 on the Rua das Flores and a 43 room hotel on the Avenida doa Aliados to open in 2018. ● Two Pousadas opening this year, the Pousada Vila Real Sto. Antonio with 57 rooms & the Pousada Vila Óbidos with 17 rooms. ● In the Algarve, a third golf course to be built in Carvoeiro, to include 170 golf apartments and 133 golf villas. Pestana Hotels & Resorts and Pousadas de Portugal with a total of 93 properties and 11,756 rooms at the end of 2017 is Portugal's largest hotel and leisure group. HOTELS ROOMS % AZORES 1 106 1 MADEIRA/PORTO SANTO 16 3518 30 ALGARVE 10 2261 17 LISBON, CASCAIS, PORTO 8 903 9 POUSADAS 34 1232 11 NATIONAL TOTAL 69 8020 68 BRAZIL 7 1395 12 CUBA 1 508 5 VENEZUELA 1 197 2 ARGENTINA 1 135 1 SÃO TOMÉ 3 330 2 MOZAMBIQUE 3 192 2 CABO VERDE 1 93 1 SOUTH AFRICA 1 76 MOROCCO (CASABLANCA) 1 93 1 UK (LONDON) 1 238 2 GERMANY (BERLIN) 1 142 1 NETHERLANDS (AMSTERDAM) 1 154 1 SPAIN (BARCELONA) 1 84 1 USA(MIAMI) 1 99 1 INTERNATIONAL TOTAL 24 3736 32 GRAND TOTAL 93 11756 100 NET ASSETS Assets less depreciation NET WORTH Net assets less liabilities MILLION EUROS MILLION EUROS 1200 581 1200 561 1076 1100 1081 550 516,0 524 526 1100 1037 1033 508 1001 1029 500 482 1000 448 900 450 800 400 700 350 600 300 500 250 400 200 300 150 200 100 100 50 0 0 2011 2012 2013 2014 2015 2016 2017 2018 2011 2012 2013 2014 2015 2016 2017 2018 TURNOVER MILLION EUROS EBITDAR Earnings before Interest, Taxes MILLION EUROS Depreciation, Amortization and Rent 500 150 453 135 132 130 418 432 420 404 393 387 400 125 400 118 110 110 103 100 96 300 75 200 50 100 25 0 0 2011 2012 2013 2014 2015 2016 2017 2018 2011 2012 2013 2014 2015 2016 2017 2018 1. The financial highlights were based on audited year end accounts. 2. 2018 figures are budgeted. HEAD OFFICE Pestana Casino Park Rua Imperatriz D. Amélia 9004-513 Funchal Madeira Tel: +351 291 209 100 www.pestana.com.