COMPANY PROFILE

Information as at 2Q18
 To be A Leading Hospitality, Restaurant Operator and Lifestyle
VISION Brand Retailer through the delivery of branded products and
services that provide 100% satisfaction to all stakeholders

Customer Result People

Innovative Partnership
Focus Oriented Development

Overview
2
MINT - KEY MILESTONES
Acquired remaining
30% stake in

Increased stake Acquired

to 31% in

in Australia Acquired 35.6%

50% stake in stake in
50% stake in
Launched

Thailand
Launched Acquired additional Increased stake
70% stake in Launched Joint venture with stake from to 100% in

In African Assets in hotels in Africa

Founded Launched 50% stake in 100% stake in 49% Investment in Acquired remaining Acquired 75%
Founded hotel & mixed use 7 hotels & brand stake in
project in Maputo,
Mozambique

1978 1980 1982 1988-9 2000-1 2003 2008 2009 2010-11 2012-13 2014 2015 2016 2017 2018

Founded RGR , MFG and M&A of Completed 49% stake in Acquired 7 hotels Acquired 74%
MINOR listed RGR and MFG group stake in
and became business
restructuring;
Delisted 11% stake in Invested in Converted loan to
70% equity of

Increased stake
to 69.2% in

Acquired additional
20% stake in

Overview 3
MINT - CONSISTENT GROWTH
TOTAL REVENUES
THB Million
60,000

40,000

20,000

0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

ASSETS
THB Million
120,000

90,000

60,000

30,000

0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

MARKET CAP
THB Million
250,000
200,000
150,000
100,000
50,000
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Overview 4
MINT - TODAY

MINOR HOTELS MINOR FOOD

Hotel Casual Dining Restaurants
• Equity-Owned • Equity-Owned
• Hotel and Serviced Suites • Franchised
Management Manufacturing
• Spa • Cheese & Ice-cream
Mixed-Use • Ice-cream Ingredients and
• Plaza & Entertainment Toppings
• Residential Development • Coffee Roasting
• Point-Based Vacation Club

Shared Services

Overview 5
CONTRIBUTIONS BY BUSINESS GROUPS & GEOGRAPHIES
2017 REVENUE CONTRIBUTION 2017 EBITDA CONTRIBUTION 2017 NPAT CONTRIBUTION

Minor Lifestyle Minor Lifestyle Minor Lifestyle

7% 2% 3%
Minor Food Minor Food
35% Minor Food
40%
35%

Minor Hotels Minor Hotels

Minor Hotels
53% 62%
63%

2017 REVENUE CONTRIBUTION 2017 REVENUE CONTRIBUTION 2017 REVENUE CONTRIBUTION

MINT MINOR HOTELS MINOR FOOD

Thailand
Thailand 37%
51% Overseas
40%

Thailand
Overseas Overseas
60%
49% 63%

Overview 6
 MINT’S PRESENCE
Enhance profile, reputation & recognition with 161 hotels and serviced suites, 2,130 restaurant outlets and 61 spas.
With the recent investment in NH Hotel Group, MINT has expanded its operations to a total of 64 countries.

The Americas Europe Europe Africa Asia Pacific

Canada Andorra Spain Botswana India
USA Austria Switzerland Egypt Indonesia
The Netherlands Kenya
Argentina Belgium Korea
Lesotho
Brazil Czech Republic UK Laos
Mozambique
Chile France Malaysia
Middle East Namibia
Colombia Germany Seychelles Maldives
Bahrain
Cuba Hungary Tanzania Myanmar
Jordan
Ecuador Italy South Africa New Zealand
Kuwait
Zambia Pakistan
Haití Luxemburg Lebanon
Mexico Poland Oman Asia Pacific Singapore
República Dominicana Portugal Qatar Australia Sri Lanka
Uruguay Romania Saudi Arabia Cambodia Thailand
Venezuela Slovakia UAE China Vietnam

Minor Hotels NH Hotel Group Minor Food Minor Lifestyle

MINT data as of Jul 2018 and NH Hotel Group data as of Jun 2018

Overview 7
MINOR HOTELS
To be the Leading Hospitality Partner
Maximizing Stakeholder Value

8
 HOTEL PORTFOLIO – JULY 2018
Thailand
THAILAND Outside Thailand
OUTSIDE THAILAND
MAJORITY-
OWNED

7 Anantara 3 Four Seasons 2 Oaks

6 Anantara 6 AVANI (Australia)
(Maldives, Vietnam, (Sri Lanka, Vietnam,
Cambodia, Sri Lanka, Portugal, Botswana, Namibia
Portugal & Zambia) & Zambia) 11 Tivoli
3 AVANI 1 JW Marriott 1 St. Regis
(2 Brazil & 9 Portugal)
JOINT VENTURE

6 Anantara 5 AVANI
(1 Vietnam, 1 Sri Lanka, 1 Oaks
(2 Maldives, 3 Mozambique
1 Mozambique & 2 Lesotho) (India)
& 1 Sri Lanka)
1 AVANI
8 Elewana 4 Cheli &
1 NIYAMA (Tanzania Peacock 1 Naladhu 2 Serendib 1 Radisson Blu
(Maldives) & Kenya) (Kenya) (Maldives) (Sri Lanka) (Mozambique)

4 AVANI
MANAGED

(Laos, Malaysia, UAE & 3 Tivoli

PURELY

5 Anantara 2 AVANI Seychelles) (Portugal & Qatar)

15 Anantara
(2 Bali, 1 Vietnam, 3 China,
2 Oman, 1 Qatar & 6 UAE) 2 Cheli & Peacock 3 Elewana 1 The Beaumont
1 Oaks (Kenya) (Kenya) 1 Oaks (UAE) (UK)
MLR*

3 AVANI
51 Oaks (47 Australia, 3 New Zealand & 1 Dubai) (Australia & New Zealand)
* MLR is Management Letting Rights (Management of Serviced Suites)

Minor Hotels 9
HOTEL PORTFOLIO – 161 PROPERTIES WITH 20,302 ROOMS IN 26 COUNTRIES
Hotel Name Country # Rooms Hotel Name Country # Rooms Hotel Name Country # Rooms
Anantara Bophut Koh Samui Thailand 106 AVANI Hua Hin Thailand 196 Anantara Baan Rajprasong Bangkok Thailand 97
Anantara Golden Triangle Elephant Camp Thailand 61 Oaks Bodhgaya India 78 Anantara Chiang Mai Thailand 84
Anantara Hua Hin Thailand 187 AfroChic Diani Beach Kenya 10 Anantara Lawana Koh Samui Thailand 122
Anantara Layan Phuket Thailand 77 Elephant Pepper Camp Masai Mara Kenya 10 Anantara Rasananda KohPhangan Thailand 64
Anantara Mai Khao Phuket Villas Thailand 83 Anantara Sathorn Bangkok Thailand 310
Elsa's Kopje Meru Kenya 11
Anantara Riverside Bangkok Thailand 408
Joy's Camp Shaba Kenya 10 AVANI Atrium Bangkok Thailand 568
Anantara Siam Bangkok Thailand 354
Sand River Masai Mara Kenya 16 AVANI Khon Kaen Thailand 196
AVANI Pattaya Thailand 298
Tortilis Camp Amboseli Kenya 18 Oaks Bangkok Sathorn Thailand 115
AVANI Riverside Bangkok Thailand 248
Sunset Coast Samui managed by AVANI Thailand 58 AVANI Lesotho Lesotho 158 Anantara Sanya China 122
Four Seasons Chiang Mai Thailand 76 AVANI Maseru Lesotho 105 Anantara Xishuangbanna China 103
Four Seasons Koh Samui Thailand 60 Anantara Dhigu Maldives Maldives 110 Anantara Guiyang China 218
Four Seasons Tented Camp Golden Triangle Thailand 15 Anantara Veli Maldives Maldives 67 Anantara Seminyak Bali Indonesia 60
JW Marriott Phuket Thailand 265 Naladhu Private Island Maldives Maldives 20 Anantara Uluwatu Bali Indonesia 74
The St. Regis Bangkok Thailand 224 Kifaru House Kenya 5
Niyama Private Islands Maldives Maldives 134
Oaks Elan Darwin Australia 301 Kitich Camp Mathews Forest Kenya 6
Anantara Bazaruto Island Mozambique 44
Oaks Grand Gladstone Australia 144 Lewa Safari Camp Kenya 13
AVANI Gaborone Botswana 196 Anantara Matemo Island Mozambique 24
Loisaba Star Beds Kenya 4
Tivoli Ecoresort Praia do Forte Bahia Brazil 287 Anantara Medjumbe Island Mozambique 12
Loisaba Tented Camp Kenya 12
Tivoli Mofarrej São Paulo Brazil 217 AVANI Pemba Beach Mozambique 185
AVANI+ Luang Prabang Laos 53
Anantara Angkor Cambodia 39 Radisson Blu, Maputo Mozambique 154
AVANI Sepang Goldcoast Malaysia 315
Anantara Kihavah Maldives Villas Maldives 79 Anantara Peace Haven Tangalle Sri Lanka 152
AVANI Windhoek Namibia 173 Al Baleed Salalah by Anantara Oman 136
AVANI Bentota Sri Lanka 75
Anantara Vilamoura Algarve Portugal 280 Anantara Al Jabal Al Akhdar Oman 115
Club Hotel Dolphin Sri Lanka 154
AVANI Avenida Liberdade Lisbon Portugal 119 The Residences at Victoria (Tivoli) Portugal 93
Hotel Sigiriya Sri Lanka 79
Tivoli Carvoeiro Algarve Portugal 246 Tivoli Évora Portugal 56
Arusha Coffee Lodge Tanzania 30
Tivoli Coimbra Portugal 100 Banana Island Doha by Anantara Qatar 141
Tivoli Lagos Algarve Portugal 324 Kilindi Zanzibar Tanzania 14
Souq Waqif Boutique by Tivoli Qatar 183
Tivoli Avenida Liberdade Lisboa Portugal 285 Serengeti Migration Camp Tanzania 20
AVANI Seychelles Barbarons Seychelles 124
Tivoli Marina Portimao Portugal 196 Serengeti Pioneer Camp Tanzania 12 Anantara Sir Bani Yas Island Al Sahel UAE 30
Tivoli Marina Vilamoura Algarve Portugal 383 Tarangire Treetops Tanzania 20 Anantara Sir Bani Yas Island Al Yamm UAE 30
Tivoli Oriente Lisboa Portugal 279 The Manor at Ngorongoro Tanzania 20 Anantara The Palm Dubai UAE 293
Tivoli Palácio de Seteais Sintra Portugal 30 AVANI Hai Phong Harbour View Vietnam 122 Eastern Mangroves by Anantara UAE 222
Tivoli Sintra Portugal 77 Joint Venture 30 2,060 Desert Islands by Anantara UAE 64
Anantara Kalutara Sri Lanka 141 Australia 5,795
AVANI Kalutara Sri Lanka 105 Qasr Al Sarab Desert by Anantara UAE 206
Oaks Hotels & Resorts New Zealand 263 AVANI Deira Dubai UAE 216
Anantara Hoi An Vietnam 94
UAE 168 Oaks Liwa Executive Suites UAE 54
AVANI Quy Nhon Vietnam 63
Royal Livingstone by Anantara Zambia 173 Australia 205 The Beaumont UK 73
AVANI Hotels & Resorts
AVANI Victoria Falls Zambia 212 New Zealand 81 Anantara Mui Ne Vietnam 90
Majority Owned 40 7,063 Management Letting Rights 54 6,512 Purely Managed 37 4,667

Minor Hotels 10
ANANTARA – LIFE IS A JOURNEY

A luxury brand for modern travelers, Anantara opens the door to

unforgettable experiences in the world’s most exciting destinations.

Minor Hotels 11
AVANI – THE DETAILS THAT MATTER
Blending modern lifestyle features, a passion for design and smooth seamless
service, AVANI offers all the meaningful details that matter for a great stay.

Minor Hotels 12
 BOUTIQUE HOTEL BRANDS WITH UNIQUE LUXURY EXPERIENCE

EXPERIENCE MORE THE ULTIMATE AFRICAN EXPERIENCE

From thriving cities to beach paradises, a diverse portfolio An unrivalled collection of luxury lodges, camps and hotels
of hotels and resorts, welcoming guests with the in select locations chosen to give inside, privileged access
exceptional comfort and a sense of wellbeing. to the best of Kenya and Tanzania.

Minor Hotels 13
OAKS – WELCOME HOME TO OAKS
Spacious, contemporary serviced studios and suites. Offering peace of mind, effortless
short or long stays, and essential comforts.

Minor Hotels 14
NH Hotel Group
NH Hotel Group is a leading European hotel operator with a diversified portfolio in the mid- to upscale segment across
30 countries in Europe, Americas and Africa.

PORTFOLIO OVERVIEW
No. of Hotel
Brands Brand Positioning
Hotels* Rooms*
Midscale to upscale, urban
287 41,220
hotels
Upper upscale, premium hotels
78 12,344
located in capital cities
Upper upscale, unconventional
“design” hotels 4 978

Upscale, holiday hotels 9 2,429

Total 385 59,682

 6th largest hotel chain in Europe Revenue Breakdown Ownership Breakdown*

The Americas,
 Listed on the Madrid Stock Exchange with a market 9% Managed, Owned,
capitalization of EUR 2.4 billion (as of Jul 2018) Italy, 18% 23% 20%

Benelux,
 Spain-based leading urban hotel operator with 385 22% 2017
No of
hotels and 59,682 keys in 30 countries Revenue:
Rooms:
EUR
59,682
 Key operating markets include Spain, Germany, Italy 1,571m
Central
and Benelux Europe,
25%
Spain, 26%
* As of Jun 2018 Leased, 57%
Source: NH Hotel Group Investor Presentation Aug 2018

Minor Hotels 15
SPA PORTFOLIO – JULY 2018
No. Hotel Country No. Hotel Country
1 Anantara Bophut Koh Samui Thailand 31 AVANI+ Luang Prabang Laos
2 Anantara Chiang Mai Thailand 32 AVANI Sepang Goldcoast Malaysia

Spa portfolio consists of 3

Anantara Golden Triangle Elephant
Camp
Thailand
33 Anantara Dhigu Maldives Maldives
34 Anantara Kihavah Maldives Villas Maldives
61 spas in 19 countries 4 Anantara Hua Hin Thailand 35 Anantara Veli Maldives Maldives
5 Anantara Lawana Koh Samui Thailand 36 Naladhu Private Island Maldives Maldives
6 Anantara Layan Phuket Thailand 37 NIYAMA Private Islands Maldives Maldives
7 Anantara Mai Khao Phuket Villas Thailand 38 Anantara Bazaruto Island Mozambique
Anantara Rasananda Koh Phangan
8 Thailand 39 Anantara Medjumbe Island Mozambique
Villas
40 AVANI Pemba Beach Mozambique
9 Anantara Riverside Bangkok Thailand
41 Al Baleed Salalah Anantara Oman
10 Anantara Sathorn Bangkok Thailand
42 Anantara Al Jabal Al Akhdar Oman
11 Anantara Siam Bangkok Thailand
43 Tivoli Marina Vilamoura Algarve Portugal
12 AVANI Hua Hin Thailand
44 Tivoli Avenida Liberdade Lisboa Portugal
13 AVANI Khon Kaen Thailand
45 Tivoli Carvoeiro Algarve Portugal
14 AVANI Pattaya Thailand
46 Tivoli Palacio de Seteais Portugal
15 AVANI Riverside Bangkok Thailand
47 Banana Island Doha by Anantara Qatar
16 JW Marriott Phuket Thailand
48 Souq Waqif Boutique by Tivoli Qatar
17 The St. Regis Bangkok Thailand
49 AVANI Seychelles Barbarons Seychelles
18 The Royal Orchid Sheraton Bangkok Thailand
50 Anantara Kalutara Sri Lanka
19 Tivoli Ecoresort Praia Do Forte Bahia Brazil
51 Anantara Peace Haven Tangelle Sri Lanka
20 Tivoli Mofarrej São Paulo Brazil
52 Anantara Sir Bani Yas Island UAE
21 Anantara Angkor Cambodia
53 Anantara The Palm Dubai UAE
22 Anantara Guiyang China
54 Eastern Mangroves by Anantara UAE
23 Anantara Sanya China
55 Emirates Palace Abu Dhabi UAE
24 Anantara Xishuangbanna China
56 Qasr Al Sarab Desert by Anantara UAE
25 Sheraton Sanya Resort China
57 Anantara Hoi An Vietnam
26 The Puli Hotel & Spa China
58 Anantara Mui Ne Vietnam
27 JW Marriott Cairo Egypt
59 AVANI Hai Phong Harbour View Vietnam
28 Anantara Seminyak Bali Indonesia
60 AVANI Quy Nhon Vietnam
29 Anantara Uluwatu Bali Indonesia
The Royal Livingstone Victoria Falls
30 Sheraton Seoul D Cube City Korea 61 Zambia
Zambia by Anantara

Minor Hotels 16
 MINOR HOTELS – KEY STATISTICS
2017 REVENUE BREAKDOWN BY BRAND* OWNED HOTELS
56% OF MINOR HOTELS REVENUES IN 2017
Management
fee, 5% THB Occupancy
Anantara, 23% 12,000 68% 66%
Others, 18% 64% 62%
10,000 59% 60%

8,000 7,028
6,385 6,553 40%
5,788 6,228
6,000
4,372 4,168 4,293
AVANI, 9% 3,685 3,865
4,000
20%
Tivoli, 20% 2,000

Oaks, 25% 0 0%
2013 2014 2015 2016 2017
*Audited revenue excluding mixed-use Occupancy ADR RevPar

OAKS MANAGED HOTELS

20% OF MINOR HOTELS REVENUES IN 2017 4% OF MINOR HOTELS REVENUES IN 2017

AUD Occupancy THB Occupancy

250 63% 64%
63%
78% 78% 80% 10,000 58% 60%
76% 76% 77%
200 55%
166 174 177 8,000
161 164 60% 6,748
5,594 7,038 6,724
150 127 133 138 6,108 40%
126 124 6,000
40% 4,400 4,241
100 3,737 3,917
4,000 3,227
20%
50 20% 2,000

0 0% 0 0%
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017
Occupancy ADR RevPar Occupancy ADR RevPar

Minor Hotels 17
PLAZA & ENTERTAINMENT

MINT owns and operates three shopping plazas:

Riverside Plaza Royal Garden Plaza Turtle Village
Bangkok Pattaya Phuket

MINT also operates seven entertainment outlets

Minor Hotels 18
ANANTARA VACATION CLUB
MINT introduced “Anantara Vacation Club” (point-based vacation club project) in December 2010, with
inventory in Samui, Phuket, Bangkok, Chiang Mai in Thailand, Bali in Indonesia, Queenstown in New
Zealand and Sanya in China. Additional destinations will be added to the inventory over the years.

Minor Hotels 19
RESIDENTIAL PROPERTY DEVELOPMENT
LAYAN RESIDENCES BY ANANTARA, PHUKET THE ESTATES SAMUI
15 uniquely designed pool villas adjacent to 14 luxury villas adjacent to Four Seasons Resort Koh
Anantara Layan Phuket Resort Samui

ANANTARA CHIANG MAI SERVICED SUITES TORRES RANI

44 units in 7-storey condominium building across from Of the 187 luxury apartments in Maputo, Mozambique,
Anantara Chiang Mai Resort 6 penthouses are for sale

Minor Hotels 20
MINOR HOTELS – FINANCIAL PERFORMANCE
THB Million 30,970
27,758
23,547
17,977 19,243

Revenue

7,685
7,146
6,146
5,206 5,561

EBITDA

EBITDA
29.0% 28.9% 26.1% 25.7% 24.8%
Margin

3,375
3,009 2,811
2,449 2,600

NPAT

Net
13.6% 13.5% 12.8% 10.1% 10.9%
Margin

2013 2014 2015 2016 2017

Note: Core operations, excluding non-recurring items

Minor Hotels 21
MINOR FOOD
To be a global food service operator that provides 100%
satisfaction to customers and other stakeholders 22
MINOR FOOD PORTFOLIO – 2Q18
# OF OUTLETS THAILAND INTERNATIONAL
Thailand International
Brand No. of Outlet
Equity Franchise Equity Franchise
474 254 103 2 115

322 121 167 9 25

65 53 - 12 -

459 231 226 2 -

95 89 - 6 -

443 37 - 41 365

91 8 - 60 23

60 - - 60 -
Riverside

49 49 - - -
Thailand

19 - 3 2 14

Others 53 39 - 14 -

Total Equity 1,089 881 - 208 -

Total Franchise 1,041 - 499 - 542

Grand Total 2,130 1,380 750

Minor Food 23
MANUFACTURING
Two manufacturing plants in Thailand producing over 20,000 tons of cheese and ice cream per
annum

Coffee roasting factory in Australia Manufacturing of ice-cream ingredients and

toppings

Minor Food 24
 MINOR FOOD – KEY STATISTICS
2017 REVENUE BREAKDOWN BY BRAND* NUMBER OF OUTLETS

Others, 13%
The Pizza 2,064
1,996
Company, 20% 2,000 1,851
Riverside, 11%
1,708
1,544
1,500
Swensen's,
Thai Express, 10%
9%
1,000

Sizzler, 11%
The Coffee 500
Club, 14% Burger King, Dairy Queen,
7% 5%
2013 2014 2015 2016 2017
*Audited revenue

SAME-STORE-SALES GROWTH TOTAL-SYSTEM-SALES2013

GROWTH
REVENUE CONTRIBUTION

2.0% 15.0% 13.8%

13.1%
1.5% 11.2%
1.3%
10.0% 9.1%

1.0%
5.1%
5.0%
0.4%

-0.2% -0.8%
0.0% 0.0%
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017

Minor Food 25
MINOR FOOD – FINANCIAL PERFORMANCE

THB Million
23,022 23,582
18,626
16,754
15,343
Revenue

3,843 4,285
2,759 2,817 3,127
EBITDA

EBITDA
Margin 18.0% 16.8% 16.8% 16.7% 18.2%

1,913
1,501 1,550 1,572 1,684
NPAT

Net
9.8% 9.3% 8.4% 7.3% 8.1%
Margin
2013 2014 2015 2016 2017
Note: Core operations, excluding non-recurring items

Minor Food 26
OTHERS – MINOR LIFESTYLE PORTFOLIO – 2Q18
FASHION
# Outlets # Outlets
79 81
2 4
6
20
3
25
36
112
5
TOTAL 373

HOUSEHOLD CONTRACT MANUFACTURING

# Outlets
23
19 Manufacturing of acid-based
14 fast-moving consumer goods

-
TOTAL 56 100K Tons / Year

Minor Lifestyle 27
MINOR LIFESTYLE – STATISTICS & FINANCIAL PERFORMANCE
SAME-STORE-SALES GROWTH FINANCIAL PERFORMANCE
THB Million
5.0%
2.3% 4,091
3,616 3,703
0.3% 3,505 3,505
0.0% Revenue
-0.1%

-5.0%

-6.3%
-8.1%
-10.0%
2013 2014 2015 2016 2017
384
338
300 267 304
EBITDA
TOTAL-SYSTEM-SALES GROWTH

20.0% 19.3% EBITDA 9.3% 10.4% 8.6% 7.6% 7.4%

Margin
11.9%
10.0% 8.4%
183
3.8% 151 127
124
NPAT 81
0.0%

-3.3% Net 4.2% 4.9% 3.5% 2.3% 3.1%

-10.0% Margin
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017

Minor Lifestyle 28
KEY FINANCIAL HIGHLIGHTS

29
 RESILIENCY OF THAILAND vs. MINT’S RESPONSIVE STRATEGIES
Since 2000, Thailand has gone through several challenges, driven by both domestic and global factors. Geographical diversification
and new initiatives including mixed-use development have proven to mitigate the risks, with MINT reporting profit all along.

2000 – 2005 2006 – 2009 2010 – 2018

• Acquired Minor Food Group
• Launched own Pizza brand, The Pizza
Company and opened TPC and SZ in
China
• Launched own hotel brand, Anantara
• Entered into a JV to operate 3 hotels in
the Maldives
• Launched the first timeshare project in
Asia with Marriott
• Acquired Minor Corporation
• Invested in S&P Thailand, The
Coffee Club Australia and Thai
Express Singapore
• Entered into a JV with Serendib
Sri Lanka and Elewana Africa
• Launched the first residential
project, the Estates Samui
• Opened the first two overseas
purely managed hotels in Bali
and Abu Dhabi
• Invested in Beijing Riverside & Courtyard China, VGC in
Australia, Corbin & King in the UK and non-US operations
of Benihana
• Invested in hotels in Sri Lanka, Phuket, Vietnam,
Cambodia, Zambia, Namibia, Botswana, Lesotho and
Mozambique, in Oaks Hotels & Resorts Australia, in Tivoli
Hotels & Resorts in Portugal and Brazil and in NH Hotel
Group in Spain
• Launched AVANI brand, Anantara Vacation Club, and the
new residential projects, Layan Residences by Anantara,
Phuket and Anantara Chiang Mai Serviced Suites

THB Million
30% MINT’s Diversification Strategy 6,000
Erawan Mourning
Bangkok Bangkok Bombing
Coup Coup
Shutdown 4,500
Tsunami Airport
Rajprasong
Closure
15% Riot 3,000
Sub-prime
SARS Crisis Pattaya Flooding
Riot
1,500

0% 0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-1,500

MINT's NPAT % Change in Private Consumption % Change in Tourist Arrival

-15% -3,000
Source: Office of The National Economic and Social Development Board and Bank of Thailand

Financial Highlights 30
MINT FINANCIAL HIGHLIGHTS - SIZE
TOTAL REVENUE NET PROFIT
THB Million THB Million

58,644 8,000
60,000 56,973 7,040
6,590
48,014
6,000 2,335 5,415
45,000 39,787 2,014
36,936 4,402
4,101
4,000 69
30,000

4,333 4,705 4,576

15,000 2,000

0 0
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017
Core operations Non-recurring items Core operations Non-recurring items

TOTAL ASSETS TOTAL EQUITY

THB Million THB Million
118,444
120,000 108,453 50,021
50,000
98,382
40,797
90,000 40,000 36,711
74,279
30,024
60,124 30,000 26,875
60,000
20,000
30,000
10,000

0 0
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017

Financial Highlights 31
MINT FINANCIAL HIGHLIGHTS - PROFITABILITY
EBITDA MARGIN NET MARGIN

30%
24.8% 14.7%
22.5% 22.1%22.2% 23.2% 15%
21.0% 20.7% 20.9%
20% 11.1% 10.9%11.1% 10.3% 11.6%
10% 8.4% 9.2%

10%
5%

0% 0%
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017

RETURN ON ASSETS RETURN ON EQUITY

10% 25%
8.2% 21.1%
8% 7.3% 20% 17.9%
17.0%
6.4%6.6% 6.4%
15.2%15.5%
6% 5.4% 15% 14.1%
4.8% 11.8% 11.9%
4.4%
4% 10%

2% 5%

0% 0%
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017

Core operations Reported

Financial Highlights 32
MINT FINANCIAL HIGHLIGHTS - OTHERS
INTEREST-BEARING D/E INTEREST COVERAGE
x x
1.5 8.0
1.2 1.2 6.7
1.2 1.1
1.0 6.0 5.5 5.7
0.9 5.2 5.1
0.9
4.0
0.6

0.3 2.0

0.0 0.0
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017

CURRENT RATIO DIVIDEND PER SHARE AND PAYOUT RATIO

x THB
Cash Stock Payout Ratio
1.6 1.5 0.40 60%
1.3
1.2 0.30 0.10
1.0 1.0 0.9 33.5% 33.7% 40%
35.6%* 32.8% 32.8%
0.8 0.20 * *
0.40 20%
0.4 0.10 0.35 0.25 0.35 0.35

- - 0%
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017
* EPS calculation based on core operations, excluding non-recurring items

Financial Highlights 33
OTHER CORPORATE INFORMATION
 SHAREHOLDERS & MANAGEMENT
SHAREHOLDING STRUCTURE MANAGEMENT STRUCTURE
Others
Royal Family 9%
4%

Domestic Minor Group

Institutional 34%
Investors
17%

Osathanugrah
Group
9% Foreign Fund
27%

6 5 4 1 3 2 7 8
As of Jul 2018
1. William E. Heinecke
SHAREHOLDERS’ RETURN Chairman and Group Chief Executive Officer
2. Paul Charles Kenny
Chief Executive Officer of Minor Food
THB 3. Dillip Rajakarier
60 Chief Operating Officer of Minor International
50 Chief Executive Officer of Minor Hotels
40 4. Patamawalai Ratanapol
Chief People Officer of Minor International
30
5. James Richard Amatavivadhana
20 Chief Executive Officer of Minor Lifestyle
10 6. Brian James Delaney
0 Corporate Chief Financial Officer
2001 Cash Stock Warrants Capital Gain YTD Value 7. Stephen Chojnacki
Investment Dividend Dividend Chief Commercial Officer and General Counsel
8. John Scott Heinecke
As of Jul 2018 Chief Operating Officer - Hot Chain of Minor Food

Corporate Information 35
SUSTAINABILITY DEVELOPMENT
Driving People Development
We focus our efforts in developing people, from
Drive for
grassroots to leaders, with education, skills and life-long
Empowerment
learning, empowering them to achieve their highest
potential

Engaging in End-to-End Customer Experience

We strive to enrich our customers’ experiences through
end-to-end engagement and by delivering the best
Drive for Shared products and services that provide 100% satisfaction
Success Committing to Long-term and Sustainable Partnerships
We foster long-term relationships with our partners
along the value chain to achieve mutual sustainable
benefits

Managing Environmental Impact

We commit to produce a positive environmental and
Drive for social impact in the locations where we operate
Harmony Fostering Social Responsibility Mindset
We encourage and foster a social responsibility mindset
among our employees and with our partners

Practicing Good Corporate Governance

Drive for Good We build a strong platform for sustainable organization
Governance by practicing good corporate governance in all business
operations

Corporate Information 36
RECENT AWARDS
Anantara Hua Hin Resort:
“No. 1 Resort in Asia”
by Conde Nast Traveler, 2017
The Pizza Company: National Winner for Marketing
3.0 Award – Country Level, 2017 Asia Marketing
Excellence Awards
Overall Performance & Corporate
 Thailand’s Most Honored Company, Institutional Investor’s All-Asia Executive Team
2018 Rankings
 Outstanding Investor Relations Awards 2017 (SET Market Capitalization of Over
THB100bn), Stock Exchange of Thailand
 No. 2 Best Managed Companies in Thailand 2017, FinanceAsia
 Outstanding SET Sustainability Awards 2017 (SET Market Capitalization of Over
THB100bn), Stock Exchange of Thailand
 Included in Dow Jones Sustainability Emerging Market Index (DJSI) 2017 in the
Consumer Services sector and 2017 FTSE4GOOD Emerging Index
 Included in the SET Thailand Sustainability Investment Index (SETTHSI) 2018, Stock
Exchange of Thailand
Minor Hotels
 2017 Conde Nast Traveler Readers’ Choice Awards
o Naladhu Private Island – No. 1 Best Resort in the World and No.1 Resort in the
Indian Ocean
o Anantara Hua Hin – No. 1 Resort in Asia and No. 9 Best Resorts in the World
o Qasr al Sarab Desert by Anantara – No. 2 Resort in Middle East
o Anantara Vilamoura Algarve – No. 5 Resort in Europe
 Minor Hotels – Runner-Up in Overall Brand Performance 2017, Global Hotel
Alliance
Minor Food
 Minor Food – Thailand’s Top Corporate Brand Values 2017 in F&B Sector, The Stock
Exchange of Thailand & Chulalongkorn Business School
 The Pizza Company – National Winner for Marketing 3.0 Award – Country Level,
2017 Asia Marketing Excellence Awards
 Dairy Queen – 2017 International Dairy Queen Franchisee Mission Vision and
Value (MVV) Award, International Dairy Queen Corporation
Corporate Information 37