Company Presentation - Nov 2014

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1 WRAP Melbourne Company Presentation - Nov 2014 Anantara Bazaruto Island, Mozambique

2 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. Disclaimer 2

3 Agenda 9M14 Performance Recap & Recent Updates Hotel & Mixed-Use Business Restaurant Business Other Important Information

4 9M14 Performance Recap

5 CONTINUED GROWTH WITH DIVERSIFICATION MINT REPORTED 9M14 NET PROFIT OF 2.8 BILLION, A 9% INCREASE YoY, THANKS TO MINT S DIVERSIFICATION AND INTERNATIONAL EXPANSION STRATEGY, AS STRONG PERFORMANCE OF INTERNATIONAL OPERATIONS MITIGATED THE IMPACT OF SLOWDOWN IN TOURIST ARRIVALS AND DOMESTIC CONSUMPTION IN THAILAND. NET PROFIT GROWTH WAS ATTRIBUTABLE TO BOTH HOSPITALITY AND RESTAURANT BUSINESSES, TOGETHER WITH THE GAIN ON FAIR VALUE ADJUSTMENT OF INVESTMENT IN SERENDIB IN SRI LANKA IN 2Q14. REVENUES Million 30,000 +9% YoY 29,172 26,842 25,000 20,000 15,000 9M13 Hotel & Mixed-Use Restaurant Retail Trading 9M14 NET PROFIT Million 3,000 Excl one-time gain +7% YoY +9% YoY 2,783 2,500 2,545 1,500 9M13 Hotel & Mixed-Use Restaurant Retail Trading 9M14 9M14 Performance Recap 5

6 INTERNATIONAL PRESENCE WITH SOLID DIVERSIFICATION STRATEGY, MINT S PRESENCE IS NOW IN 33 COUNTRIES ACROSS ITS HOSPITALITY AND RESTAURANT BUSINESSES. REVENUE CONTRIBUTION 100% 75% 13% 32% 39% 48% International 50% 25% 87% 68% 61% 52% Thailand 0% M F Egypt Hotel Restaurant Combination MINT s Footprint 6

7 WHAT S NEW IN 3Q14 TO DATE MINT CONTINUES TO INVEST IN ITS FUTURE, POISED FOR SOLID GROWTH GOING FORWARD. HOTEL & MIXED USE RESTAURANT HOTEL INVESTMENTS 49% acquisition of Radisson Blu Hotel & mixed-use project in Maputo, Mozambique 50% joint-venture with BreadTalk Group to operate BreadTalk s bakery operations in Thailand Announcement of acquisition of 8 hotels with over 1,300 rooms in 5 countries in Africa from Sun International (to be completed in 4Q14): 80% in Kalahari Sands Hotel & Casino, Namibia 64% in Gaborone Sun Hotel & Casino, Botswana 50% in Royal Livingstone Hotel and Zambezi Sun Resorts, Zambia 40.5% in Royal Swazi Spa Valley and Ezuwini Sun (Lugogo Sun), Swaziland 37.5% in Lesotho Sun Hotel & Casino and Maseru Sun, Lesotho Strategic investment of 70% in VGC Food Group by Australia hub, consisting of: Veneziano Coffee Roaster: a leading and awardwinning specialty roasting house, supplying over 500 tons of freshly roasted coffee annually The Groove Train: a casual dining (bar / restaurant) franchise system offering quality food and beverages in a funky / modern atmosphere Coffee Hit: a unique specialty coffee franchise system offering an enhanced retail coffee experience to customers via beverage and wholebean trade OAKS Rivermarque, Mackay (MLR) CORPORATE Inclusion of MINT in the Dow Jones Sustainability Emerging Markets Index (DJSI) in the consumer services sector for the first year Recent Development 7

8 Hotel & Mixed-Use Business Serengiti Migration Camp

9 FINANCIAL PERFORMANCE HOTEL & MIXED-USE 9M14 REVENUE OF HOTEL & MIXED-USE BUSINESS GREW BY 9%, PRIMARILY AS A RESULT OF GROWTH OF MANAGEMENT CONTRACT, OAKS, OWNED HOTELS AND ANANTARA VACATION CLUB. 9M14 NET PROFIT INCREASED BY 16%, FROM HIGHER PROFITABILITY ON THE BACK OF HIGHER OPERATING LEVERAGE AND EFFECTIVE COST CONTROL IN 2Q14 AND 3Q14, TOGETHER WITH AN INCREASE IN CONTRIBUTION FROM HIGHER-MARGIN MANAGEMENT CONTRACT BUSINESS. +4% YoY +9% YoY Key Highlights million Revenue 4,794 3,690 4,312 5,181 5,322 4,083 4,505 12,796 13,911 Owned hotels: 41% of 9M14 hotel and mixed-use revenues saw revenue growth of 3% although system-wide 9M14 RevPar dropped by 7% YoY (organic RevPar -5%); Oaks: 29% of 9M14 hotel and mixed-use revenues reported 9M14 revenue growth of 15% while RevPar declined by 1%; EBITDA 1, ,847 1, % YoY 1,130 3, % YoY 3,782 Management contracts: 6% of 9M14 hotel and mixed-use revenues reported increase in 9M14 revenue by 149%, from the outstanding performance of the Maldives hotels and the ramping up of the new hotels, with system-wide 9M14 RevPar increase of 24% (organic RevPar increase of 10%); EBITDA Margin NPAT Net Margin 36.0% 18.0% % 2.7% 1Q13 2Q % % 3Q % 33.1% 1,053 1, % 18.8% 4Q13 1Q % 25.1% +8% YoY % 8.5% 2Q14 3Q % 27.2% 1, % 9M13 +16% YoY 1, % 9M14 Real estate: 17% of 9M14 hotel and mixed-use revenues declined by 11% YoY because of lower residential sales; Net profit exhibited growth at a higher rate than revenues as a result of higher operating leverage and effective cost savings in 2Q14 and 3Q14, together with the one-time gain on fair value adjustment of investment in Serendib in Sri Lanka of 69 million (after tax); Excluding the one-time fair value adjustment, net profit increased by 11%. Hotel Updates 9

10 HOTEL & MIXED-USE - INTERNATIONAL PRESENCE IN RECENT YEARS, MINT HAS IMPLEMENTED A SOLID DIVERSIFICATION STRATEGY. TODAY, MINT OPERATES HOTELS AND SPAS IN COMBINATION OF INVESTMENT, JOINT-VENTURE AND MANAGEMENT BUSINESS MODELS IN 23 COUNTRIES, WITH ANOTHER SEVEN COUNTRIES IN THE PIPELINE OVER THE NEXT THREE YEARS. 100% 75% 50% 25% 6% 94% REVENUE CONTRIBUTION 40% 60% 51% 56% 49% 44% International Thailand 0% M F Egypt Investment Management Combination New Destinations in Pipeline Hub Hotel Updates 10

11 SYSTEM-WIDE HOTEL OPERATIONS 3Q14 SYSTEM-WIDE REVPAR WAS FLAT AMIDST DOMESTIC POLITICAL EVENTS AND RENOVATIONS OF ANANTARA RIVERSIDE, ANANTARA HUA HIN AND AVANI QUY NHON. WHILE HOTELS IN THAILAND S MAJOR TOURIST DESTINATIONS, ESPECIALLY BANGKOK, SAW THE LINGERING IMPACT OF THE MARTIAL LAW AND COUP IN 3Q14, OVERSEAS HOTELS, THE MAJORITY OF WHICH ARE ANANTARA HOTELS, WITNESSED AN INCREASE IN REVPAR OF 14% YoY. NEVERTHELESS, THAI HOTELS ARE SEEING IMPROVING TREND IN REVPAR GROWTH MONTH-BY-MONTH THROUGHOUT 3Q14. NUMBER OF HOTEL ROOMS ADR No of Rooms 15, ,529 10,624 11,740 12,723 13,128 9,000 6,000 3, % YoY 13,179 13,465 MLR / Oaks Managed Joint-venture Owned 8,000 6,000 5,937 4,998 5,105 6,098 6,968 Organic excl FX Impact +2% YoY 5,884 +4% YoY 5,321 0 OCCUPANCY REVPAR 90% Organic -2% YoY Organic excl FX Impact -1% YoY 80% 70% 73% 66% 69% 71% 67% -4% YoY 66% 5,000 4,358 3,280 3,537 4,355 4,673-1% YoY 3,546 3,486 60% 60% 3,000 50% 1,000 * Note: Hotel Statistics include Oaks Hotel & Resort; and excludes Sun International hotels in 3Q14 Hotel Updates 11

12 OWNED-HOTELS OPERATIONS 9M14 REVENUE CONTRIBUTION 41% 59% Ownedhotels Other hotels & mixed-use OWNED HOTELS REMAINED A MAJOR REVENUE CONTRIBUTOR IN 9M14 WITH 41% CONTRIBUTION OF HOTEL & MIXED-USE REVENUES. ALTHOUGH THE POLITICAL INSTABILITY IN THAILAND PUT PRESSURE ON OVERALL OWNED HOTELS OCCUPANCY, PARTICULARLY THAT OF BANGKOK HOTELS, MINT WAS ABLE TO RAISE 3Q14 RATES BY 6% ON AVERAGE. DESPITE THE DECLINE IN REVPAR OF 11% YoY, WITH ADDITION OF NEW HOTEL ROOMS, 3Q14 REVENUES OF OWNED HOTELS INCREASED BY 8% YoY. NUMBER OF HOTEL ROOMS ADR No of Rooms 3,000 2,500 + Hoi An + Quy Nhon 2,494 - Anantara Bophut Samui (reno) +Anantara Ankor Cambodia 2,388 2,427 +Anantara Bophut +Grand Hotel +Anantara Layan Phuket +13% YoY 2,676 2,753 2,753 2,753 10,000 8,000 6,000 7,275 5,650 5,388 6,957 8,570 Organic excl FX Impact +6% YoY 6,301 +6% YoY 5,717 1,500 1,000 OCCUPANCY REVPAR 90% 80% 70% 60% 78% 61% 66% 69% 64% 51% Organic -11% YoY -11% YoY 55% 6,000 5,687 3,446 3,553 4,784 5,497 Organic excl FX Impact -11% YoY -11% YoY 3,199 3,159 50% 40% 0 Hotel Updates 12

13 OWNED-HOTELS PERFORMANCE BY GEOGRAPHY 9M14 REVENUE CONTRIBUTION 5,000 3,000 1,000 10% Bangkok hotels 90% Other hotels & mixed-use IN 9M14, BANGKOK HOTELS ACCOUNT FOR ONLY 10% OF TOTAL HOTEL & MIXED-USE REVENUES (5% OF TOTAL MINT REVENUES). REVPAR OF THAI OWNED HOTELS, IN PARTICULAR BANGKOK HOTELS, WERE IMPACTED BY THE MARTIAL LAW AND COUP, TOGETHER WITH THE RENOVATION OF ANANTARA RIVERSIDE AND ANANTARA HUA HIN. OVERSEAS REVPAR SAW A CHANGE OF MIX WITH BETTER PERFORMANCE OF RELATIVELY NEWER AND LOWER REVPAR PROPERTIES, WHICH PULLED DOWN THE REVPAR AVERAGE, TOGETHER WITH THE RENOVATION OF AVANI QUY NHON. NEVERTHELESS, MONTHLY REVPAR GROWTH FOR ALL CATAGORIES IS SEEING AN IMPROVING TREND. BANGKOK RevPar Growth (YoY) -40% -36% -27% 4,772 4,917 4,814 4,681 4,501 4,423 4,407 80% 3,800 69% 70% 62% 3,458 2,236 3,064 2,795 2,280 1,796 48% 47% 41% 80% 60% 40% 20% 16, ,000 OVERSEAS RevPar Growth (YoY) +6% +12% -5% 15,289 14,676 10,396 11,058 11,746 71% 10,981 8,987 10,040 65% 61% 72% 53% 8,340 55% 57% 7,145 5,989 5,356 5,380 5,108 80% 60% 40% 20% 0 0% 0 0% THAILAND PROVINCES MONTHLY REVPAR GROWTH TREND 10,000 8,000 6,000 RevPar Growth (YoY) +3% +1% -4% 7,8736,190 8,490 7,367 6,403 79% 5,433 70% 75% 6,030 5,535 5,438 5,160 62% 63% 58% 61% 3,451 3,438 3,472 3, % 80% 60% 40% 20% 0% -20% -40% Martial Law & Coup Thailand Provinces Overseas Bangkok 0 % Occupancy 20% ADR -60% Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 RevPar Hotel Updates 13

14 OAKS OPERATIONS 9M14 REVENUE CONTRIBUTION 27% 29% 71% 73% Oaks Other hotels & mixed-use OAKS SERVICED-SUITES OPERATIONS PROVIDE THE HOTEL AND MIXED-USE BUSINESS WITH STABLE PERFORMANCE THROUGHOUT THE YEAR, COMPARED TO HOTEL BUSINESS WHICH IS MORE SEASONAL. ALTHOUGH OAK S REVPAR IN 3Q14 WAS FLAT YoY, ITS REVENUES GREW BY 14% MAINLY FROM ADDITIONAL MLR CONTRACTS WHICH BROUGHT IN 8% MORE ROOMS YoY. NUMBER OF MANAGED ROOMS ADR No of Rooms 6,000 5,000 3,000 +8% YoY 5,897 5,855 5,906 6,045 5,576 5,176 5,323 6, , ,635 4, ,957 4, Flat YoY 4,727 4,651 AUD -2% YoY AUD OCCUPANCY REVPAR 90% 80% 70% 78% 75% 79% 79% 76% 72% Flat YoY 79% 5,000 3,000 1,000 3, , , ,923 3, , %YoY 3, AUD -2% YoY AUD % Hotel Updates 14

15 MANAGED-HOTELS OPERATIONS 9M14 REVENUE CONTRIBUTION 94% Other hotels & mixed-use 6% Management contract IN 9M14, CONTRIBUTION OF MANAGED HOTELS INCREASED TO 6% OF HOTEL & MIXED-USE REVENUES FROM 3% IN 9M13. SYSTEM-WIDE REVPAR OF MANAGED HOTELS PORTFOLIO DECLINED BY 6% YoY IN 3Q14, PRIMARILY FROM THE ADDITION OF NEWLY-OPENED MANAGED HOTELS WHICH INITIALLY YIELD LOWER REVPAR. ORGANIC PERFORMANCE EXCLUDING FOREIGN EXCHANGE RATE IMPACT SAW REVPAR GROWTH OF 1% YoY IN 3Q14. BECAUSE OF THE ADDITIONAL ROOMS OF 16% YoY AND THE RAMPING UP OF NEW HOTELS OVER THE PAST TWO YEARS, 3Q14 REVENUE FROM MANAGEMENT SERVICE INCREASED BY 73% YoY. NUMBER OF HOTEL ROOMS ADR No of Rooms 3,000 1, Anantara Xisuangbanna 2,126 2,180 + Per AQUUM Huvafenfushi, Desert Palm, Niyama + Avani Atrium Bangkok + Anantara Al Yamm 2,946 + Anantara Chiang Mai, Al Sahel, The Palm Dubai - Per AQUUM + Anantara Niyama Emei OCCUPANCY +16% YoY 3,254 3,404 3,404 3,404 10,000 8,000 6, ,228 4,405 5,483 6,506 REVPAR 7,537 Organic excl FX Impact +7% YoY 6,719 Flat YoY 5,459 80% 70% 60% 50% 60% 51% 55% 62% 57% 50% Organic -3% YoY -3% YoY 52% 5,000 3,000 1,000 3,128 2,254 3,011 4,066 4,264 Organic excl FX Impact +1% YoY 3,351-6% YoY 2,824 40% 0 Hotel Updates 15

16 HOTEL EXPANSION PIPELINE MINT CONTINUES TO IMPLEMENT ASSET RIGHT STRATEGY, WHICH IS A COMBINATION OF ASSET HEAVY (OWNED & JV) AND ASSET LIGHT (MANAGEMENT CONTRACTS & MLRs), DEPENDING ON THE CIRCUMSTANCES AND OPPORTUNITIES. THE BELOW FIGURES ARE BASED ON CURRENT SIGNED PIPELINE WHILE THE FINALIZATION OF ON-GOING DUE-DILIGENCE AND NEW OPPORTUNITIES THAT COME ALONG IN THE FUTURE WILL CERTAINLY ADD TO THE BELOW GROWTH FIGURES. OWNED HOTELS MANAGED HOTELS No of Rooms 3,500 3,000 2,500 2,676 +3% +13% +13% 3,537 3,122 2,753 No of Rooms +5% +27% +38% 6,000 5,000 3,000 3,254 3,404 4,334 5, F 2015F 2016F F 2015F 2016F JOINT VENTURE OAKS No of Rooms 3,000 2,500 1,500 1, % +90% +5% 2,397 2,525 1,263 No of Rooms 7,000 6,000 5,000 3,000 +3% +11% - 6,711 6,711 5,897 6, F 2015F 2016F F 2015F 2016F Hotel Updates 16

17 HOTEL EXPANSION PIPELINE EXPANSION INSIDE AND OUTSIDE THAILAND WILL CONTRIBUTE TO REVENUE & PROFIT IN COMING YEARS. HOTEL INVESTMENT Others MANAGEMENT CONTRACTS 2014F Layan, Phuket (77 rms) Medjumbe, Mozambique* (12 rms) Matemo, Mozambique* (23 rms) Pemba, Mozambique* (184 rms) The Radisson Blu, Maputo, Mozambique* (154 rms) Emei, China (150 rms) Pinnacle (39 rms) WRAP (120 rms) Rivermarque (70 rms) 2015F Bazaruto Island, Mozambique* Phase 2 (75 rms) Gaborone Sun, Botswana (196 rms) Kalahari Sands, Namibia (173 rms) Zambezi Sun, Zambia* (212 rms) Lesotho Sun, Lesotho* (158 rms) Maseru Sun, Lesotho* (105 rms) Royal Swazi, Swaziland* (149 rms) Ezulwini Sun, Swaziland* (202 rms) Niyama, Maldives* Phase 2 (44 rms) (Per Aquum) Amboseli Camp, Kenya* (16 rms) (Elewana) Royal Livingstone, Zambia* (173 rms) Doha, Qatar (117 rms) Barbarons, Seychelles (124 rms) Qasr Al Sarab, UAE (99 rms) Nusa Dua, Bali, Indonesia (590 rms) Sanya, China (122 rms) Carlyle (79 rms) Radius (80 rms) Milton (185 rms) Jimbaran, Indonesia (200 rms) 2016F Kalutara, Sri Lanka (141 rms) Tangalle, Sri Lanka* (128 rms) Ambalangoda, Sri Lanka (64 rms) Bangkok (210 rms) Guiyang, China (218 rms) Qiandao Lake, China (120 rms) Luang Prabang, Laos (115 rms) Al Akhdar, Oman (123 rms) Salalah, Oman (136 rms) Al Madina, Oman (120 rms) Dongguan, China (120 rms) Mhinghang, China (300 rms) Mahabalipuram, India (130 rms) La Chaland, Mauritius (160 rms) Tozeur, Tunisia (93 rms) Total 20 Hotels / 2,496 Rooms 24 Hotels / 3,610 Rooms * Note: Joint-ventured properties Hotel Updates 17

18 REAL ESTATE BUSINESS ANANTARA VACATION CLUB 9M14 REVENUE CONTRIBUTION 17% Real estates 83% Other hotels & mixed-use PART OF THE REAL ESTATE BUSINESS, ANANTARA VACATION CLUB, WHICH LEVERAGES ON THE ANANTARA BRAND, IS GROWING TO BECOME ANOTHER SIGNIFICANT CONTRIBUTOR TO HOTEL AND MIXED-USE BUSINESS. IN 3Q14, 13 UNITS IN PHUKET WERE ADDED INTO ANANTARA VACATION CLUB INVENTORY POOL TO ACCOMMODATE NEW MEMBERSHIP. 9M14 SALES GREW BY 19% YoY. PLANNED PIPELINE OF INVENTORIES No. of Units Destinations 700 Shanghai Bangkok Sanya Q F Phuket Samui AVC MEMBERS Current Sales Galleries Bali UAE 1% Indonesia 2% Japan 2% Australia 3% Korea 1% Others 12% China 30% Current AVC Resorts Malaysia 9% Queenstown Hong Kong 12% Singapore 13% Thailand 15% As at Sep 2014 Real Estates Updates 18

19 REAL ESTATE BUSINESS - RESIDENTIAL 9M14 REVENUE CONTRIBUTION 17% Real estates 83% Other hotels & mixed-use NEXT RESIDENTIAL PROJECTS IN THE PIPELINE ARE THE RESIDENCES BY ANANTARA, PHUKET, TO BE LAUNCHED AT THE END OF 2014, AND ANANTARA CHIANG MAI SERVICED SUITES TO BE COMPLETED IN MINT WILL ALSO ADD ADDITIONAL RESIDENTIAL CLUB SUITES IN PHUKET. ADDITIONAL RESIDENTIAL PROJECTS ADJACENT TO ANY OF THE HOTEL PROPERTIES ARE BEING CONSIDERED TO ENSURE CORE PIPELINE OF MINT S REAL ESTATE BUSINESS. ESTATES SAMUI ST. REGIS RESIDENCES Inventory 21% Inventory 8% Sold 79% Sold 92% THE RESIDENCES BY ANANTARA, LAYAN, PHUKET Situated on Layan beach on the preferred west coast of Phuket, each of the 15 individually designed residences benefits from one of Phuket s most picturesque bays, and represents the most significant new luxury development in Phuket. 15 uniquely designed pool villas Up to 8 bedrooms, each with 21 metre private infinity pool 1,313 to 2,317 sq.m. of built-up area Due to be launched in 2H14 ANANTARA CHIANG MAI SERVICED SUITES A 50% joint-venture with Natural Park Pcl., the project is in the city center of Chiang Mai, across from Anantara Chiang Mai Resort & Spa, near Chiang Mai Night Bazaar and iconic Ping River. 44 units in 7-storey condominium building 65 to 162 sq.m. (one to three bedrooms) Completion expected in 2016 Real Estates Updates 19

20 Restaurant Business Coffee Hit, Australia

21 FINANCIAL PERFORMANCE - RESTAURANT 9M14 REVENUE OF THE RESTAURANT BUSINESS INCREASED BY 11% YoY, PRIMARILY FROM THE OUTLET EXPANSION OF 13%. 9M14 NET PROFIT GREW BY 3%, A SMALLER MAGNITUDE THAN REVENUE INCREASE MAINLY AS A RESULT OF THE SLOWDOWN IN DOMESTIC CONSUMPTION WHICH LED TO LOWER OPERATING LEVERAGE IN 1Q14 IN THAILAND AND 3Q14 IN SINGAPORE. NONETHELESS, THAILAND HUB SAW A TURNAROUND IN SAME-STORE-SALES GROWTH SINCE 2Q14. million Revenue EBITDA EBITDA Margin NPAT Net Margin 3, % % 1Q13 3,725 3, % 17.3% % 2Q13 8.6% 3Q13 3, % % 4Q13 4,307 4, % 4, % 1Q % 9.0% 2Q14 +8% YoY -4% YoY 15.5% +1% YoY 8.1% 3Q14 11,346 1,998 1, % YoY 12,561 +3% YoY 2, % 16.4% 9.2% 9M13 +3% YoY 1, % 9M14 Key Highlights 9M14 total-system-sales exhibited strong growth of 11.9%, primarily from the outlet expansion of 13% YoY; Riverside, Burger King and Ribs & Rumps reported total-system-sales growth of over 20% in 9M14; 9M14 same-store-sales was flat YoY despite weak operation environment in 1Q14, as Thailand Hub witnessed a turnaround since 2Q14, together with stable performance of Australia Hub; Singapore Hub reported negative same-storesales growth in 9M14, as a result of consumption slowdown, together with high competition in the casual dining space in Singapore; China Hub reported strongest total-system-sales growth of 24.2% in 9M14, driven primarily by the robust expansion of Riverside outlets; EBITDA & net profit margins declined in 9M14 YoY, attributable to lower operating leverage resulting from negative same-store-sales growth, in particular for Thailand Hub in 1Q14 and Singapore Hub in 3Q14. Restaurants Updates 21

22 RESTAURANT INTERNATIONAL FOOTPRINT MINT OPERATES FOUR RESTAURANT HUBS: THAILAND, SINGAPORE, AUSTRALIA AND CHINA. MINT S RESTAURANT PRESENCE IS NOW IN 21 COUNTRIES ACROSS THE REGION, OPERATING OWNED, FRANCHISED AND A COMBINATION OF BOTH BUSINESS MODELS. MINT CONTINUES TO LOOK FOR OPPORTUNITIES TO EXPAND, ESPECIALLY IN THESE EXISTING MARKETS THAT MINT OPERATES. 100% 75% 50% 25% 19% 81% REVENUE CONTRIBUTION 30% 33% 70% 67% 49% 51% International Thailand 0% M F Egypt Owned Franchised Combination Hub Restaurants Updates 22

23 RESTAURANT PERFORMANCE 3Q14 TOTAL-SYSTEM-SALES OF THE RESTAURANT BUSINESS CONTINUED TO GROW BY 11.9%, DUE TO SAME-STORE-SALES GROWTH OF 1.2% AND OUTLET EXPANSION OF 13% YoY. SAME-STORE-SALES GROWTH BOUNCED BACK TO POSITIVE TERRITORY SINCE 2Q14, UPON PROACTIVE MARKETING INITIATIVES, TOGETHER WITH IMPROVING SENTIMENT AND DOMESTIC CONSUMPTION IN THAILAND. SSS & TSS GROWTH RESTAURANT OUTLETS BY GEOGRAPHY 20% International Thailand 3,365 15% 10% 14.6% 13.9% 13.2% 14.3% 9.4% 12.4% 13.9% 676 7% 93% 1,544 35% 65% +13% YoY 1,648 36% 64% 49% 51% 5% 0% -5% No. of Outlets 4.1% 1.1% 0.0% 1,406 1,419 1,464 1,544 1,568 1,592 1,648 Same-Store-Sales Growth 0.9% -1.8% 1.5% 1.2% Total-System-Sales Growth Q F RESTAURANT OUTLETS BY OWNERSHIP Franchised 3,365 Owned 41% +13% YoY 1,544 1, % 50% 18% 59% 53% 50% 82% Q F Restaurants Updates 23

24 THAILAND HUB 9M14 REVENUE CONTRIBUTION 33% Others 67% Thailand THAILAND REMAINS THE MAJOR REVENUE AND PROFIT CONTRIBUTOR TO THE RESTAURANT BUSINESS. INNOVATIVE PRODUCTS AND SERVICES, PROACTIVE MARKETING INITIATIVES, AS WELL AS EFFICIENT COST CONTROL PROGRAMS HAVE AFFORDED MINT S RESTAURANT BUSINESS TO REMAIN IN THE FOREFRONT OF THE CASUAL DINING RESTAURANT INDUSTRY IN THE COUNTRY. THAILAND S SSS & TSS GROWTH Same-store-sales growth remained in the positive territory in 3Q14, as a result of continued proactive marketing initiatives, together with improving macro backdrop and domestic consumption. Consequently, with continued outlet expansion, total-system-sales growth also surged to 15.7% in 3Q14. POISED FOR GROWTH MINT continues to launch innovative products and proactive marketing initiatives to maintain the leadership position in the market. The Pizza Company s Swensen s Crepe Dairy Queen s Line Sticker & Activities Lover Menu Cup Cake To Go 20% 15% Restructuring of The Pizza Company Burger King s New Menu & Products Sizzler s Creative Menus 10% 5% 0% -5% The addition of BreadTalk brand to the Thai portfolio has been completed, where a joint-venture with BreadTalk Group has been set up to operate BreadTalk bakery business in Thailand. Same-Store-Sales Growth Total-System-Sales Growth Restaurants Updates 24

25 SINGAPORE HUB 9M14 REVENUE CONTRIBUTION 18% Singapore 82% Others SINGAPORE HUB IS THE SECOND BIGGEST REVENUE AND NET PROFIT CONTRIBUTOR OF THE RESTAURANT BUSINESS. ITS SAME-STORE-SALES GROWTH HAS BEEN IMPACTED BY CONSUMPTION SLOWDOWN IN SINGAPORE, TOGETHER WITH INCREASE IN COMPETITION. SINGAPORE HUB EXPECTS TO SEE MEANINGFUL RECOVERY TOWARDS THE END OF THE YEAR AND INTO SINGAPORE S SSS & TSS GROWTH Same-store-sales growth was negative in 9M14 because of: Intensified competition, coupled with contracting macro environment in Singapore; and Further expansion of Poulet, the Singapore Hub s sub-brand, in its second year of operation, and Nevertheless, Singapore Hub was seeing an improving trend in October PROFITABILITY TO BE SUPPORTED BY: Launch new products for core brands Thai Express s Xin Wang s Sanook Menu New Products 20% 15% 10% Selectively launch new concepts Poulet Penang Street SIFU 5% 0% -5% -10% -15% Same-Store-Sales Growth Total-System-Sales Growth Leverage on the expertise from Thailand head office combined with the vast industry experience and knowledge of the management team in Singapore Consolidate non-core brands in order to re-direct and optimize the utilization of scarce resources Continue to expand organically in Singapore and selectively expand the Thai cuisine concept in Malaysia and other international markets Restaurants Updates 25

26 AUSTRALIA HUB 9M14 REVENUE CONTRIBUTION 1% Australia 99% Others ALTHOUGH AUSTRALIA HUB CONTRIBUTES ONLY 1% TO THE RESTAURANT BUSINESS S REVENUES, IT CONTRIBUTES 13% TO THE NET PROFIT, AS THE AUSTRALIA HUB S PERFORMANCE IS RECOGNIZED AS SHARE OF PROFIT OF INVESTMENTS IN JOINT VENTURE UNDER EQUITY ACCOUNTING. AUSTRALIA HUB IS THEREFORE THE THIRD LARGEST PROFIT CONTRIBUTOR TO THE RESTAURANT BUSINESS. AUSTRALIA S SSS & TSS GROWTH EXPANSION INTACT 20% 15% Australia provides stable same-store-sales and total-system-sales growth for the group, primarily attributable to the established Coffee Club operations. In addition to growing The Coffee Club in its established home markets, Australia and New Zealand, the Australia Hub is looking to expand the brand in other parts of the region: Thailand New Caledonia & China Egypt Maldives Malaysia & Indonesia 10% 5% Expansion of new brands through 70% acquisition of: Award-winning coffee roaster 0% Casual dining restaurant franchise system in funky / modern atmosphere Same-Store-Sales Growth Total-System-Sales Growth Specialty coffee franchise system Restaurants Updates 26

27 CHINA HUB 9M14 REVENUE CONTRIBUTION 13% China 87% Others CHINA HUB CONTRIBUTES 13% OF RESTAURANT REVENUES, WHILE IN TERMS OF NET PROFIT, ITS OPERATIONS HAVE TURNED AROUND AND WAS BREAK-EVEN IN WITH RIVERSIDE AS THE SUCCESSFUL LOCAL CONCEPT AND SIZZLER S UNIQUE POSITION AS A WESTERN STEAK HOUSE CHAIN, TOGETHER WITH VAST POTENTIAL IN THE CONSUMPTION SPACE IN THE COUNTRY, MINT AIMS FOR CHINA TO BECOME A MEANINGFUL CONTRIBUTOR IN THE FUTURE. CHINA S SSS & TSS GROWTH GROWTH PLANS IN PLACE Total-system-sales growth of China operations continued to be strong. Active outlet expansion of the Riverside brand since MINT s acquisition at the end of 2012 more than offset negative same-storesales growth effect. 40% The objective going forward is to expand outlets under Riverside and Sizzler brands in China, after having closed down 15 The Pizza Company outlets during Historical Outlet Expansion in China % 20% Q F 10% 0% -10% 1Q14 2Q14 3Q14 Same-Store-Sales Growth Total-System-Sales Growth While short-term goal is to increase the scale of operations by increasing the number of outlets, the medium to long-term goal is to improve profitability of the operations to be comparable to other hubs. Restaurants Updates 27

28 Other Important Information

29 FINANCIAL PERFORMANCE RETAIL TRADING & CONTRACT MANUFACTURING 9M14 REVENUE OF RETAIL TRADING & CONTRACT MANUFACTURING WAS FLAT YoY FROM BETTER PERFORMANCE OF RETAIL TRADING BUSINESS. NET PROFIT AND NET PROFIT MARGIN WERE PRESSURED LARGELY BY THE SLOWDOWN IN DISCRETIONARY SPENDING, IN LIGHT OF THAILAND S POLITICAL UNCERTAINTY IN THE FIRST HALF OF THE YEAR. million Revenue EBITDA , % YoY % YoY Flat YoY 2,701 2,700-4% YoY Key Highlights 9M14 revenue from retail trading increased by 4% YoY, despite the softening of domestic consumption which affected industry-wide discretionary spending. The revenue increase was primarily attributable to the expansion of points of sale by 13% YoY; 9M14 revenue from contract manufacturing decreased by 7% YoY, from delayed orders from NMT s key customers amidst consumption slowdown, particularly in 1Q14; EBITDA Margin NPAT 11.1% % 8.5% % % % 8 9.2% +28% YoY % 8.8% 108-8% YoY 100 EBITDA and EBITDA margin, together with net profit and net profit margin, declined in 9M14 because of the adverse impact of national politics, which took its toll on profitability of domestic discretionary consumer sector especially in the first half of the year. Net Margin 5.8% 1Q13 2.8% 2Q13 3.3% 3Q13 4.7% 4Q13 5.4% 1Q14 1.0% 2Q14 4.3% 3Q14 4.0% 9M13 3.7% 9M14 Retail Trading Updates 29

30 RETAIL TRADING & CONTRACT MANUFACTURING 3Q14 TOTAL-SYSTEM-SALES OF RETAIL TRADING GREW BY 3% YoY AS A RESULT OF OUTLET EXPANSION OF 13% YoY. SAME-STORE-SALES GROWTH CONTINUED TO BE NEGATIVE IN 3Q14 AS SALES OF DISCRETIONARY GOODS HAVE BEEN IMPACTED BY THE INDUSTRY-WIDE SLOWDOWN. SSS & TSS GROWTH SALES PER SQ. M. 40% 40, % 20% 16.0% 30,000 28, % 1.0% 8.0% 3.3% 3.0% 6.0% 3.0% 24,787 23,926 25,387 25,620 23,996 24,220 0% 20, % -2.3% -10.0% -5.9% -10.5% -20% 10,000 No. of Shops No. of Shops Same-Store-Sales Growth Total-System-Sales Growth Fashion & Cosmetic Sales per Sq.m. Retail Trading Updates 30

31 CAPEX & BALANCE SHEET STRENGTH IN ADDITION TO COMMITTED CAPEX, MINT ALSO SET ASIDE ADDITIONAL CAPEX FOR FUTURE ACQUISITIONS AND NEW INITIATIVES. LEVERAGE RATIO REMAINS WELL BELOW THE INTERNAL POLICY. WITH ITS SOLID BALANCE SHEET, MINT WILL BE ABLE TO PRIMARILY USE ITS INTERNAL CASHFLOW AND DEBT FINANCING TO FUND ITS CAPEX REQUIREMENTS GOING FORWARD. TRIS RATING HAS UPGRADED MINT AND ITS SENIOR DEBENTURE RATINGS TO A+, FROM A IN APRIL CAPEX PLANS COMMITTED & NEW OPPORTUNITIES LEVERAGE RATIOS X million 1 1 X x 0.88x Internal Policy 10,000 8,000 6, Interest Bearing Debt to Equity Net Interest Bearing Debt to Equity 2.0 BACK-UP FINANCING million 60, F 2015F 2016F 2017F 2018F 2019F Restaurant Hotel & Mixed-use Retail Trading Additional CAPEX (non-committed average per annum) for New Opportunity/Acquisition(s) EBITDA coverage on committed CAPEX - 40,000 20,000 0 Shareholders Equity Debt Outstanding Borrowing & Equity Debt Un-Utilized Facility CAPEX & Balance Sheet Strength 31

32 FIVE-YEAR ASPIRATIONS hotels 676 restaurants 316 retail shops & POS (14,524 Sqm) 3Q hotels 67 residences built to date 119 timeshare units 1,648 restaurants 288 retail shops & POS (22,431 Sqm) 2019F > 190 hotels > 400 residences built to date > 700 timeshare units > 3,300 restaurants > 360 retail shops & POS (> 37,000 Sqm) 4.1bn 2018F NPAT () 1.6bn Going Forward 32

33 MINT S FIVE-YEAR STRATEGY FIVE-YEAR STRATEGY CONSISTS OF THE FOLLOWING THREE KEY PILLARS, WITH CLEAR GOALS AND MEASUREMENTS Goals NPAT growth of 15-20% CAGR ROIC of >15% Growth Pillars Drive a Portfolio of Own Brands, With Additional Contribution From Selected International Brands Maximize Asset Value and Productivity Assetlight Model Mixeduse Initiatives Expand Through Strategic Investments & Acquisitions Measurements Total-system-sales growth of over 15% Revenues growth of over 10% Improvement of margins Revenues from overseas of over 40% Net profit from overseas of 50% Summary of Five-Year Plan 33

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