Company Presentation – May 2016

2

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.

FORWARD LOOKING STATEMENT

Disclaimer

Agenda1Q16 Performance Recap & Recent Updates

Minor Hotel

Minor Food

Minor Retail

Corporate Information

1Q16 Performance Recap & Recent Updates

5

CONTINUED GROWTH WITH DIVERSIFICATIONMINT reported 1Q16 net profit of THB 3.6 billion, a 66% increase y-y, primarily from the robust performance of Minor Hotel and Minor Food, together with the gain from revaluation of Tivoli of THB 1,932 million, which demonstrated MINT’s M&A capabilities. Excluding such gain in 1Q16 and gain from revaluation of Sun International hotels in 1Q15, 1Q16 net profit from operation increased by 9% y-y.

12,143

15,846

THB million

THB million

2,157

3,575

+66% y-y

+30% y-y

REVENUES

NET PROFIT

1Q16 Performance Recap

Excl special gains+21% y-y

Excl special gains+9% y-y

15,846

4,000

8,000

12,000

16,000

1Q15 Minor Hotel Minor Food Minor Retail Special Gains 1Q16

0

1,000

2,000

3,000

4,000

1Q15 Minor Hotel Minor Food Minor Retail Special Gains 1Q16

6MINT’s Footprint

With solid diversification strategy, MINT’s presence was in 32 countries at the end of 1Q16 across its hospitality and restaurant businesses.

Restaurant

Combination

Hotel & Spa

INTERNATIONAL PRESENCE

REVENUE CONTRIBUTION

87%

56% 56% 50%

13%

44% 44% 50%

0%

25%

50%

75%

100%

2008 2015 1Q16 2020F

International

Thailand

* Excludes special gains

7

ADDITIONAL INVESTMENT IN HOTEL PORTFOLIO IN AFRICA

Investment Update

Royal Swazi Spa

AVANI Lesotho AVANI Maseru

Royal Livingstone by Anantara AVANI Victoria Falls

AVANI Gaborone

AVANI Windhoek

• The Investment

− MINT will increase its shareholding in the hotel portfolio in Africa by acquiring additional stake from Sun International

− Total investment amount (for both existing investment and the additional shareholding) is ZAR 1,020.8 million (THB 2.7 billion)

− The assets include 8 properties with over 1,300 rooms across 5 countries

• Investment Rationales

− This strategic investment follows MINT’s initial acquisition of 6 hotels under the Sun International portfolio in Africa in December 2014

− The additional investment will solidify MINT’s presence in Africa and allow it to fully capitalize on the long-term potential of the region

− The portfolio will further benefit from MINT’s global operating platform, as well as its robust sales and marketing network to strengthen performance going forward

Name Country Rooms CurrentShareholding(Tranche 1)

New Shareholding(Tranche 1+2)

Timeline of Tranche 2

Investment

1. Royal Livingstone by Anantara Zambia 173 50% 100% 2Q16

2. AVANI Victoria Falls Zambia 212 50% 100% 2Q16

3. AVANI Lesotho Lesotho 158 37.5% 46.9% 2Q16

4. AVANI Maseru Lesotho 105 37.5% 46.9% 2Q16

5. AVANI Gaborone Botswana 196 64% 80% 3Q16

6. AVANI Windhoek Namibia 173 80% 100% 3Q16

7. Royal Swazi Spa Swaziland 149 - 50.6% 2H17 onwards

8. Lugogo Sun Swaziland 202 - 50.6% 2H17 onwards

Total Portfolio 1,368

Zambia

NamibiaBotswana

Lesotho

Swaziland

Lugogo Sun

Tranche Timing of Completion Investment Amount

Tranche 1 Completed at end of 2014 ZAR 590.1 million

Tranche 2 To be completed in 2016-2017 ZAR 430.7 million

8

INVESTMENT REVIEWS

Investment Reviews

MINT’s past investments have delivered superior returns, highlighting MINT’s M&A capabilities to drive value creation from its strategic investments.

Oaks Minor DKL

0

40

80

120

2010 2011 2012 2013 2014 2015

CAGR24%

0

100

200

2012 2013 2014 2015

Revenues

CAGR10%

AUD Million

Initial investment of AUD 84.5 million in 2011

Payback period: ~3 years

Project IRR > 15%

The Investment

Revenues

The Investment

AUD Million

Initial investment of AUD 23 million in 2008

Payback period: ~5 years

Project IRR > 25%

Added >20 properties and >1,500 rooms under Oaks brand within 4 years

Diversified Oaks brand outside its home country to Asia and Middle East

Developed new product offerings under Oaks brand – from MLRs to traditional hotel management

Expanded from a single brand at acquisition to a portfolio of 6 brands today

Grew number of outlets by over 60% over the past five years

Increased international footprint to 8 countries across Asia and Oceania

Anantara Peace Haven Tangalle Sri Lanka

Minor Hotel

10

FINANCIAL PERFORMANCE – MINOR HOTEL

1Q16 core revenues of hotel & mixed-use business (excluding special gains) grew by 18% y-y, as a result of improving owned hotels operations, addition of newly acquired hotels, Oaks, management contracts and sale of residential development villas. 1Q16 core EBITDA increased by 24% because of increased operating leverage of owned hotels and higher-profitability residential sales. Net profit increased by 10%, lower than increase in revenues, because of increase in depreciation and effective tax rates in 1Q16.

Owned hotels

55%of 1Q16 hospitality revenues

Key Highlights

Minor Hotel

Revenue

EBITDA

NPAT

THB million

* The financials above reflect performance from operations, and therefore excludes special gains from revaluation of investments in Sun International hotels of THB 650 million in 1Q15, Oaks Elan Darwin of THB 20 million in 3Q15 and 4Q15, and Tivoli of THB 1,932 million in 1Q16.

+10% y-y

Core revenue grew by 25% y-y on the back of 1Q16 increase in organic RevPar excl FX impact of 5% y-y, together with the incremental revenue from the newly acquired hotels (system-wide RevPar -24%).

Oaks

20% of 1Q16 hospitality revenues

Management contracts

4%of 1Q16 hospitality revenues

Real estate

18% of 1Q16 hospitality revenues

1Q16 revenue increased by 8% y-y, in line with the RevPar increase of 9% both in THB term and AUD term.

Revenue increased by 12% y-y, primarily attributable to hotels in Thailand and the Middle East. 1Q16 system-wide RevParincreased by 8% (organic RevPar +9%).

1Q16 revenue increased by 20% y-y with the continued sales momentum of The Residences by Anantara, Layan, Phuket.

+18% y-y

EBITDA Margin

22.3% 30.6%29.2% 18.8% 31.2%

NetMargin

1Q161Q15 3Q15

8.5% 15.8%17.1%

2Q15

4.7%

4Q15

17.9%

6,002 4,842

5,681 7,109 7,108

1,751

910 1,267

2,218 2,175

1,026

229 484

1,270 1,124

+24% y-y

11

Hubs

In recent years, MINT has implemented a solid diversification strategy. At the end of 1Q16, MINT operates hotels and spas under a combination of investment, joint-venture and management business models in 24 countries, with another 7 countries in the pipeline over the next three years.

MINOR HOTEL - INTERNATIONAL PRESENCE

REVENUE CONTRIBUTION

94%

41% 45%34%

6%

59% 55%66%

0%

25%

50%

75%

100%

2008 2015 1Q16 2020F

International

Thailand

Management

Combination

Investment

New Destinations in Pipeline

* Excludes special gains

Minor Hotel

12

SYSTEM-WIDE HOTEL OPERATIONS

1Q16 system-wide RevPar decreased by 2% y-y as a result of the addition of new hotels, i.e. the Tivoli portfolio in Portugal. In addition, the RevPar is also impacted by the low season of the Portuguese hotels portfolio. Excluding new hotels and foreign exchange impact, 1Q16 organic RevPar increased by 6% y-y, attributable to increase in Thailand hotels’ RevPar of 10% and Oaks’ RevPar of 9%.

THB

NUMBER OF HOTEL ROOMS ADR

OCCUPANCY REVPAR

No of Rooms Organic excl FX Impact+4% y-y

+1% y-y

THB

-2% y-y

Organic excl FX Impact+6% y-y

Minor Hotel

0

5,000

10,000

15,000

20,000

1Q15 2Q15 3Q15 4Q15 1Q16

MLR / Oaks

Managed

Joint-venture

Owned

16,872 16,774 17,076

+13% y-y

17,714

70%

65%

69% 69%67%

50%

60%

70%

80%

90%

1Q15 2Q15 3Q15 4Q15 1Q16

-2% y-y

Organic+1% y-y

6,359

5,245 5,3676,306

6,431

2,000

4,000

6,000

8,000

1Q15 2Q15 3Q15 4Q15 1Q16

4,431

3,4093,678

4,335 4,337

1,000

2,000

3,000

4,000

5,000

1Q15 2Q15 3Q15 4Q15 1Q16

19,006

13

OWNED-HOTELS OPERATIONSWith the acquisition of Tivoli portfolio in Portugal, contribution of owned hotels increased to over half of hotel & mixed-use revenues in 1Q16. 1Q16 RevPar of owned hotels was down 24% y-y because of the addition of new Tivoli hotels and AVANI Riverside Bangkok. Excluding the new hotels and impact from exchange rate, organic RevPar of owned hotels increased by 5% y-y in 1Q16, attributable to hotels in Thailand. Negative system-wide RevPar of owned hotels was more than offset by incremental revenues from the additional rooms. As a result, revenue of owned hotels increased by 25% y-y in 1Q16.

THB

THB

55%Owned-hotels

1Q16 HOSPITALITY REVENUE CONTRIBUTION

NUMBER OF HOTEL ROOMS ADR

OCCUPANCY REVPAR

+37% y-y

No of Rooms

-24% y-y

Organic excl FX Impact+5% y-y

Organic excl FX Impact+6% y-y

-11% y-y

Minor Hotel

4,807 4,807 5,1085,387

6,566

3,000

4,000

5,000

6,000

7,000

1Q15 2Q15 3Q15 4Q15 1Q16

72%

62%65%

67%

62%

40%

50%

60%

70%

80%

90%

1Q15 2Q15 3Q15 4Q15 1Q16

7,550

5,709 5,815

7,055 6,696

2,000

4,000

6,000

8,000

10,000

1Q15 2Q15 3Q15 4Q15 1Q16

5,460

3,521 3,804

4,7534,161

0

2,000

4,000

6,000

1Q15 2Q15 3Q15 4Q15 1Q16

+Oaks Elan Darwin

+Tivoli Oriente

+Tivoli Victoria+Tivoli Palacio de

Sateais+Tivoli Jardin+Tivoli Lagos+Tivoli Sintra+Tivoli Coimbra+AVANI Riverside Bkk

-10% y-y

OrganicFlat y-y

14

34%

OWNED-HOTELS – THAILAND

THB

THAILAND PROVINCES

BANGKOK

THB

RevPar Growth (y-y) +78% +65% +39% +3% -3%

RevParADR% Occupancy

Thailandhotels

1Q16 HOSPITALITY REVENUE CONTRIBUTION

RevPar Growth (y-y) +1% +11% +23% +9% +11%

Thailand hotels continued to be the highest contributor to the hospitality business, with revenue of owned hotels in Thailand account for about one-third of hospitality revenues. System-wide RevPar of Thailand owned hotels (including newly-opened AVANI Riverside Bangkok) increased by 5% y-y. Excluding the new hotel, organic RevPar of Thailand owned hotels increased by 8%, thanks to the strong tourism flow into Thailand.

Minor Hotel

5,1784,720 4,762 5,018 5,178

4,0652,963 3,115 3,692

3,92379%

63% 65% 74% 76%

0

2,000

4,000

6,000

1Q15 2Q15 3Q15 4Q15 1Q16

8,614

5,6735,863

7,847

9,132

6,455

3,844 4,0765,455

7,188

75%68%

70% 70%79%

0

2,000

4,000

6,000

8,000

10,000

1Q15 2Q15 3Q15 4Q15 1Q16

• 1Q16 Bangkok RevPar was down by 3% because of the addition of the newly-opened AVANI Riverside Bangkok.

• Excluding the new hotel, organic RevPar of owned hotels in Bangkok increased by 2%.

Bangkok owned hotels

• Hotels in the provinces of Thailand continued to see a resilient 1Q16 RevPar growth of 11% y-y.

• All key destinations including Phuket, Samui, Hua Hin and Chiang Mai have experienced RevPar growth in 1Q16.

Owned hotels in Thailand Provinces

• International tourist arrival to Thailand increased by 15% y-y in 1Q16, led by tourists from China, Korea, UK and The Americas.

Industry

15

OWNED-HOTELS – OVERSEAS

THB

1Q16 REVENUE CONTRIBUTION BY GEOGRAPHY

OVERSEAS

THB

RevParADR% Occupancy

21%Overseas hotels

1Q16 HOSPITALITY REVENUE CONTRIBUTION

RevPar Growth (y-y) -50% -39% -22% -37% -47%

Contributing 21% of hospitality revenue, overseas owned hotels portfolio is another major driver of the hospitality business. Although system-wide RevPar of overseas owned hotels declined by 47% because of the addition of newly acquired Tivoli hotels, the incremental revenues from the acquisition, together with the improvement of the existing hotels, resulted in revenue increase of overseas owned hotels portfolio of 66% y-y in 1Q16.

Minor Hotel

8,597

6,5946,502 7,948

5,8885,572

3,629 4,0014,816

2,947

65%55%

62% 61%50%

0

2,000

4,000

6,000

8,000

10,000

1Q15 2Q15 3Q15 4Q15 1Q16

Maldives, 27%

Brazil, 27%

Portugal, 22%

Africa, 14%

Others, 9%

• Excluding newly acquired Tivoli hotels in Portugal, organic RevPar of overseas owned hotels declined by 8% y-y.

Overall RevParPerformance

• 1Q16 performance of Maldives owned hotel slightly improved y-y.

Maldives

• RevPar of hotels in Brazil declined y-y in 1Q16 as the two hotels are under renovation, together with the weakening of the Brazilian reals.

• Nevertheless, revenues of hotels in Brazil increased by 31% y-y because of consolidation of 2 months in 1Q15 vs. full quarter in 1Q16.

Brazil

• Only two months of revenue of Portuguese hotels were consolidated in 1Q16.

• As 1Q is low season, contribution from Portugal portfolio is expected to be higher in 2Q and 3Q, which are their high season.

Portugal

• Today, the two owned hotels in Botswana and Namibia are city hotels, and therefore are impacted by the regional economic slowdown.

• Upon completion of the increased shareholding in Sun hotels portfolio, hotels in Zambia will be consolidated.

• Positioned as leisure hotels with the renowned Victoria Falls as the main attraction, the Zambian hotels are less susceptible to the African economy.

Africa

16

OAKS’ OPERATIONS

Oaks’ serviced-suites operation is the second largest segment in the hotel and mixed-use business, with 20% revenue contribution in 1Q16. Oaks continues to provide the hotel & mixed-use business with stable performance throughout the year, compared to hotel operations which is more seasonal. Oaks’ 1Q16 revenues in THB increased by 8% y-y, in line with the RevPar growth.

THB

Flat y-yNo of

Rooms

NUMBER OF MANAGED ROOMS ADR

OCCUPANCY REVPAR

THB

20%Oaks

1Q16 HOSPITALITY REVENUE CONTRIBUTION

Minor Hotel

6,330 6,232 6,208 6,232 6,257

4,000

5,000

6,000

7,000

1Q15 2Q15 3Q15 4Q15 1Q16

4,3093,923

4,2144,610 4,592

168

158

165

179 179

150

160

170

180

190

0

2,000

4,000

6,000

1Q15 2Q15 3Q15 4Q15 1Q16

75%73%

79% 78%77%

60%

70%

80%

90%

1Q15 2Q15 3Q15 4Q15 1Q16

3,245

2,844

3,3313,603 3,531

126

110

130

140137

100

120

140

160

0

1,000

2,000

3,000

4,000

5,000

1Q15 2Q15 3Q15 4Q15 1Q16

+2% y-y

AUDTHB

+7% y-y

AUD+6% y-y

AUDTHB

+9% y-y

AUD+9% y-y

17

MANAGED-HOTELS OPERATIONS

In 1Q16, managed hotels contributed 4% of hotel & mixed-use revenues. System-wide RevPar of managed hotels portfolio increased by 8% y-y in 1Q16, primarily from hotels in the Middle East and Thailand. The increase in RevPar, together with the increase in room counts resulted in growth in management fees of 12% y-y.

THB

NUMBER OF HOTEL ROOMS ADR

OCCUPANCY REVPAR

THB

4%Management Contracts

1Q16 HOSPITALITY REVENUE CONTRIBUTION

No of Rooms

+8% y-y

Minor Hotel

3,703 3,703 3,7273,910 3,998

2,000

3,000

4,000

1Q15 2Q15 3Q15 4Q15 1Q16

7,424

6,356 6,461

7,809 7,605

0

2,000

4,000

6,000

8,000

1Q15 2Q15 3Q15 4Q15 1Q16

66%61% 60%

63%

69%

40%

50%

60%

70%

80%

1Q15 2Q15 3Q15 4Q15 1Q16

4,910

3,849 3,892

4,9385,280

0

2,000

4,000

6,000

1Q15 2Q15 3Q15 4Q15 1Q16

+3% y-y

Organic+4% y-y

Organic excl FX Impact-3% y-y

+2% y-y

+8% y-y

Organic excl FX Impact+4% y-y

+Souq WaqifDoha by AVANI

+The Residences at Victoria, Tivoli

18

HOTEL EXPANSION PIPELINE

Expansion inside and outside Thailand will contribute to revenue & profit in coming years.

* Note: Joint-ventured properties

Total

2016F• Kalutara,

Sri Lanka (141 rms)

14 Hotels / 2,589 Rooms 28 Hotels / 4,550 Rooms

2017F

• UAE (111 rms)

• Jabal Dhannah, UAE (230 rms)

• Queensland, Australia (219 rms)

• Oman (198 rms)

• Dubai Creek, UAE (290 rms)

• Jabal Dhannah, UAE (60 rms)

• Desaru, Malaysia (103 rms)

2018F

• Luang Prabang, Laos (101 rms)

• Qiandao Lake, China (120 rms)

• Shanghai, China (260 rms)

• Tozeur, Tunisia (93 rms)

• Le Chaland, Mauritius (176 rms)

• Torres Rani, Maputo, Mozambique* (181 rms)

• Riverside Bangkok, Thailand (249 rms)

• Nusa Dua, Bali, Indonesia (96 rms)

• Neemrana, Rajasthan, India (116 rms)

• Guiyang, China (218 rms)

• Jabal Al Akhdar, Oman (115 rms)

• Salalah, Oman (136 rms)

• Al Houara Tangier, Morocco (150 rms)

• LoisabaTented Camp, Kenya (12 rms)

• LoisabaStar Beds, Kenya (7 rms)

• Woollong-abba, Australia (80 rms)

• Ubud, Bali, Indonesia* (80 rms)

• Durrat Al Bahrain, Bahrain (220 rms)

• Ras Al Khaimah, UAE (300 rms)

• Zanzibar, Tanzania (150 rms)

2019F

• Tivoli Victoria Vilamoura, Portugal (280 rms)

• Tivoli Palacio de Seteais, Portugal (30 rms)

• Tivoli Jardim, Portugal (119 rms)

• Tivoli Lagos, Portugal (324 rms)

• Tivoli Sintra, Portugal (77 rms)

• Tivoli Coimbra, Portugal (100 rms)

MANAGEMENT CONTRACTS

• The Residences at Victoria Golf Club, Portugal (88 rms)

• Nusa Dua, Bali, Indonesia (433 rms)

• Chiang Mai, Thailand (70 rms)

• Khao Lak, Thailand (327 rms)

• Deira Islands, Dubai, UAE* (500 rms)

Minor Hotel

• Bodhgaya, India* (78 rms)

• Al Wakrah, Qatar (101 rms)

HOTEL INVESTMENT

• Busan, Korea (400 rms)

19

REAL ESTATE BUSINESS - RESIDENTIALMINT launched The Residences by Anantara, Layan, Phuket in 2H15. With two units sold and revenues recognized in 1Q16, total number of units sold to date is five. To ensure the revenue stream from residential sales in the coming years, MINT has additional residential projects in the pipeline, including in Chiang Mai in Thailand; Maputo in Mozambique, Desaru in Malaysia and Ubud in Indonesia. Other residential projects will be selectively considered in various hotel destinations in order to increase returns of the overall project.

Sold 79%

Inventory 21%

THE RESIDENCES BY ANANTARA, LAYAN, PHUKET

ANANTARA CHIANG MAI SERVICED SUITES

15 uniquely designed pool villas

1,313 to 2,317 sq.m. of built-up area

Up to 8 bedrooms, each with 21 metre private infinity pool

The project is situated on Layan beach, one of the most picturesque bays on west coast of Phuket.

A 50% joint-venture with U City Pcl. (formerly Natural Park) , the project is in the city center of Chiang Mai, across from AnantaraChiang Mai Resort & Spa.

44 units in 7-storey condominium building

65 to 162 sq.m. (one to three bedrooms)

Completion expected in 2016

ST. REGIS RESIDENCES

THE ESTATES SAMUI

Above a secluded cove of powder-white sands and crystal-blue waters, The Estates Samuiprovide complete privacy and spectacular panoramic views with its own stretch of beach.

TORRES RANI, MAPUTO

A 49% joint-venture with Rani Investment, the project is 5 minutes from Maputo CBD.

187-key, 18-storey residential tower

20,926 sq.m., 21-storey office tower

The project will be completed in 2016

Sold 34%

Inventory 66%

Construction of 8 units completed; the remaining 7 is expected to be completed by the end of 2Q16

Minor Hotel

18%Real Estates

1Q16 HOSPITALITY REVENUE CONTRIBUTION

20

TOTAL NUMBER OF MEMBERS MEMBERS PRIMARILY IN ASIA

INVENTORY TO ACCOMMODATE GROWING MEMBERS GROWTH DRIVEN BY FOUR MARKETS

Part of the real estate business, Anantara Vacation Club is now another importnant contributor to the hotel and mixed-use business. Growth of members are driven by four main markets – China, Thailand, Hong Kong and Singapore. AVC sales and profitability were temporarily put under pressure in 1Q16 because of the change in business model which resulted in smaller package, cash flow acceleration, as well as lower bad debt and cancellation rate.

REAL ESTATE BUSINESS – ANANTARA VACATION CLUB

As at Mar 2016

No. of Units 10 Destinations

18%Real Estates

1Q16 HOSPITALITY REVENUE CONTRIBUTION

2,309

3,857

5,431

6,9287,195

0

2,000

4,000

6,000

8,000

2012 2013 2014 2015 1Q16

No. of Members

0

2,000

4,000

6,000

2012 2013 2014 2015 1Q16

No. of Members

5,104

1,444

2,460

3,731

+36% +12%

+23% +19%

+300%+111%

China

Thailand

Singapore

Growth (y-y) +207% +67% +41% +28% +23%

6 Destinations: Queenstown

BaliSanyaSamuiPhuket

Bangkok

4,896

+10%

+5%

+48%

China, 39%

Thailand, 11%

Hong Kong, 11%

Singapore, 10%

Malaysia, 9%

Australia, 3%

Japan, 3%

Indonesia, 1%

US, 1% UAE, 1%Korea, 1%

Others, 10%

46

106 119 137 140

450

0

100

200

300

400

500

2012 2013 2014 2015 1Q16 2020F

+39%+35% +38%

Hong Kong

Minor Hotel

+9%

+5%

+37%

+29%

Minor Food

22

Key Highlights

FINANCIAL PERFORMANCE – MINOR FOOD

THB million

Minor Food

+28% y-y

Revenue

EBITDA

NPAT

+26% y-y

+12% y-y

1Q16 revenues of the restaurant business increased by 28%, attributable to total-system-sales growth of 8.8%, together with the consolidation of Australia hub since November 2015. EBITDA grew at the similar rate of 26%, while net profit grew at a slowerrate of 12%, primarily from the increase in minority interest from the consolidation of Minor DKL.

1Q162Q15 3Q15 4Q151Q15

Total-system-salesgrowth of

8.8%in 1Q16

The Pizza Company, Burger King and Riverside continued to report impressive double-digit total-system-sales growth in 1Q16.

Outlet expansion of

8%in 1Q16

In 1Q16, Burger King, Riverside, BreadTalk, SSP (operator in airports) and The Pizza Company saw the fastest outlet expansion y-y (in terms of percentage growth).

Positive same-store-sales growth of The Pizza Company, Burger King, The Coffee Club and Riverside contributed to the improved same-store-sales growth of the portfolio. Performance of Swensen’s and Dairy Queen were soft as dessert category was impacted by the domestic economy. Ribs and Rumps and Thai Express continued to face challenging macro economic environment in Australia and Singapore.

* The financials above reflect performance from operations, and therefore excludes gain on fair value adjustment of change in status of investments in Minor DKL, MINT’s Australian restaurant hub of THB 1,665 million in 4Q15.

Same-store-salesgrowth of

0.9%in 1Q16

4,567 4,335 4,517

5,244 5,841

838

678 748

863 1,051

431

296 360

486 481

EBITDA Margin

16.6% 18.0%18.3% 15.6% 16.5%

NetMargin 8.0% 8.2%9.4% 6.8% 9.3%

23

Franchised

Combination

Owned

REVENUE CONTRIBUTION

Hub

81%66% 62% 58%

19%34% 38% 42%

0%

25%

50%

75%

100%

2008 2015 1Q16 2020F

International

Thailand

MINT operates four restaurant hubs: Thailand, Singapore, Australia and China. MINT’s restaurant presence is now in 19 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.

Minor Food

MINOR FOOD - INTERNATIONAL PRESENCE

* Excludes special gains

24

MINOR FOOD – OPERATIONAL PERFORMANCE

Same-Store-Sales Growth Total-System-Sales Growth 53%82%

59%

Franchised

Owned

50%

International

Thailand

SSS & TSS GROWTH RESTAURANT OUTLETS BY GEOGRAPHY

RESTAURANT OUTLETS BY OWNERSHIP

1Q16 total-system-sales of the restaurant business grew 8.8% y-y, from outlet expansion of 8%, mostly in Thailand and Vietnam, together with same-store-sales growth of 0.9%. Thailand and China hubs’ solid performance resulted in the improving same-store-sales growth trend in 1Q16.

2008 2015 1Q16 2020F

36%

64%67%

33%

39%

61%1,043

3,139

1,851 1,859

+8% y-y

36%

64%

2008 2015 1Q16 2020F

38%

62%

50%

50%

3,139

48%

52%

+8% y-y

1,043

1,851 1,859

48%

52%

1,851No. ofOutlets

Minor Food

0.6%

-1.6%-0.2% 0.3% 0.9%

17.9%

11.1%

12.9%

7.8%8.8%

-5%

0%

5%

10%

15%

20%

1Q15 2Q15 3Q15 4Q15 1Q16

1,727 1,747 1,787 1,859

25

THAILAND HUB

Same-Store-Sales Growth Total-System-Sales Growth

THAILAND’S SSS & TSS GROWTH INDUSTRY LEADER

62%Thailand

1Q16 RESTAURANT REVENUE CONTRIBUTION Revenues from domestic operations accounted for over 60% of total restaurant revenues in 1Q16. The Pizza

Company and Burger King reported strong same-store-sales growth, reaffirming Thailand hub’s leadership position in the industry and its ability to stay ahead of competition amidst the prolonged slowdown of the domestic economy.

Thailand hub reported strong same-store-sales growth of 3.0% in 1Q16 despite prolonged challenging domestic consumption environment. Successful tactical initiatives, product innovations, together with effective marketing and promotional campaigns continued to pay off in 1Q16.

With consistent outlet expansion, Thailand hub reported total-system-sales growth of 14.3% in 1Q16.

Successful buy-one-get-one free promotion, with monthly record sales in March 2016.

Effective new mango promotion with six mango flavors starting in March. In addition, solid marketing plans have been put in place for the rest of the year.

Creative product innovation with monthly new launch –Thai chicken basil in May.

Attractive product offering resulted in record number of dockets of 14 million in 1Q16, with more improvement expected in 2Q.

Continued expansion of domestic market with new store openings in outskirts of Bangkok and other major cities, including stand-alone and drive-thru formats in gas stations.

Minor Food

-5%

0%

5%

10%

15%

1Q15 2Q15 3Q15 4Q15 1Q16

26

SINGAPORE’S SSS & TSS GROWTH STREAMLINE OF OPERATIONS

SINGAPORE HUB

Same-Store-Sales Growth Total-System-Sales Growth

10%Singapore

1Q16 RESTAURANT REVENUE CONTRIBUTION Like many other restaurant operators in the market, MINT’s Singapore hub continued to be impacted by the

economic slowdown and increased competition. The hub is taking the opportunity to renovate some of its outlets and gradually overhaul the customer journey to refresh the brand image as well as maintain its leadership position as one of the largest and most trusted Thai restaurant chains in Singapore.

Although same-store-sales growth of Singapore hub remained negative in 1Q16, the trend is improving, with the best same-store-sales in 1Q16 since the beginning of 2015.

Total-system-sales growth continued to be negative because of the pause in outlet expansion to focus on the refresh of Thai Express brand.

Thai Express continues to undergo the refurbishment program for its 15 outlets. The program is expected to complete by the end of the year.

Singapore hub is evaluating the performance of its restaurant portfolio and is looking to close down some of its unprofitable outlets going forward.

The hub’s new initiatives include:

- Launched “Thai Kitchen by Thai Express” in Food Republic, BreadTalk’s food atrium concept. The initiative is another collaboration between MINT and BreadTalk Singapore.

- Introducing China-based Riverside, the Sichuan barbecue fish restaurant concept, in Singapore in 2Q16.

Minor Food

-15%

-10%

-5%

0%

1Q15 2Q15 3Q15 4Q15 1Q16

27

AUSTRALIA’S SSS & TSS GROWTH SUCCESSFUL VERTICAL INTEGRATION

AUSTRALIA HUB

Total-System-Sales Growth

14%

1Q16 RESTAURANT REVENUE CONTRIBUTION

Australia

In 1Q16, Australia hub’s contribution to total restaurant business significantly increased to 14% with the consolidation of Minor DKL, as opposed to the recognition of equity income in previous years, since the increase in MINT’s shareholding in Australia hub from 50% to 70% in November 2015.

Australia hub’s same-store-sales remained flat, only slightly declining by 0.6% in 1Q16, in the midst of of slow down of the economy especially in Queensland, Australia, where half of The Coffee Club’s outlets are located.

Total-system-sales grew by 2.2% in 1Q16, as Australia hub is cautiously expanding its outlets amidst the weak macro backdrop in the country.

Same-Store-Sales Growth

With the successful integration of Veneziano into the Australia hub, MINT will continue to further enhance its supply chain management by integrating Veneziano’s coffee roasting capability across MINT’s global supply chain to further drive sales and profitability going forward.

Despite total-system-sales growth of only 2.2%, 1Q16 net profit from operation of Australia hub increased by over 10% in AUD because of the proceeds from sales of its stores to franchisees, which is the normal operation of The Coffee Club in Australia.

Minor Food

-10%

0%

10%

20%

30%

1Q15 2Q15 3Q15 4Q15 1Q16

28

CHINA’S SSS & TSS GROWTH RECOVERY ON TRACK

CHINA HUB

Same-Store-Sales Growth Total-System-Sales Growth

13% China

1Q16 RESTAURANT REVENUE CONTRIBUTION China hub reported positive same-store-sales growth for the first time in two years. MINT remains confident

in the growing middle class in China and sees the long term potential in the country. With its focus on increasing the scale, while instilling productivity and efficiency in the everyday operations of all brands, MINT expects its China hub to yield a more meaningful contribution in the future.

Same-store-sales growth of China operations turned positive of 2% in 1Q16 from both Riverside and Sizzler brands on better consumption environment in Beijing.

Total-system-sales growth was 13.4% in 1Q16 from the same-store-sales growth, together with outlet expansion.

Sizzler in China reported positive same-store-sales growth for seven consecutive months since September 2015, partly attributable to the successful menu relaunch.

For Riverside brand, same-store-sales growth was strongest in Beijing.

Riverside was successful in cost control, including raw material costs, labor costs and shop expenses. As a result, China hub has seen improving profitability in 1Q16.

As Riverside has aggressively expanded its number of outlets over the past three years, going forward, the brand will also start to focus on profitability improvement. Outlet expansion will continue with focus on resilient city, Beijing.

Minor Food

-20%

0%

20%

40%

1Q15 2Q15 3Q15 4Q15 1Q16

Minor Retail

30

FINANCIAL PERFORMANCE – MINOR RETAIL

Key Highlights

Revenue

EBITDA

NPAT

NetMargin

THB million

Minor Retail

+4% y-y

-14% y-y

-24% y-y

1Q16 revenue from retail trading increased by 3% y-y, primarily from Banana Republic, Charles & Keith and Bossini.

1Q16 revenues of Minor Retail increased by 4% y-y from revenue recovery of both fashion and manufacturing businesses. However, both EBITDA and net profit still reported a decline because of the promotional discounts of previous-season inventory, as well as higher marketing and promotional costs.

1Q161Q15 2Q15 3Q15 4Q15

Retail trading

70%of 1Q16 retail revenues

Contract manufacturing

30% of 1Q16 retail revenues

1Q16 revenue from contract manufacturing increased by 9%, thanks to the success of its efforts to expand its customer base.

EBITDA Margin

924

810 856

915 964

98

58 44

100 85

50

16 10

48

38

10.6%

5.4%

7.2%

1.9%

5.2%

1.2%

10.9% 8.8%

5.2% 3.9%

Expanded portfolio

In 2Q16, Minor retail selectively added two new brands:

- Brooks Brothers from the US: opened in late April in Gaysorn, Siam Paragon and Emporium

- Kojima Premium Denim from Japan: opened in Siam Paragon, with the brands e-jeans, Tenryo, Pallet Life Story and Japan Blue.

Going forward, Minor retail will restructure its portfolio of brands in order to drive revenues and profitability.

31

MINOR RETAIL – OPERATIONAL PERFORMANCE

Same-Store-Sales Growth Total-System-Sales Growth Fashion & Cosmetic Sales per Sq. m.

SSS & TSS GROWTH SALES PER SQ. M.

THB

2016 same-store-sales of retail trading started to see a recovery trend and was flat in 1Q16. Because of outlet expansion y-y, primarily from the opening of Bossini and GAP outlets, together with the launch of Banana Republic brand since the beginning of 2015, total-system-sales increased by 4.2%.

No. ofShops

No. ofShops

Minor Retail

-2.2%

-5.7%

-9.7%

-7.8%

-0.1%

0.4%

-2.5%-2.7%

-7.9%

4.2%

-15%

-10%

-5%

0%

5%

10%

1Q15 2Q15 3Q15 4Q15 1Q16

298 287 284 307 307

27,101

33,83034,246 34,042

35,200

10,000

20,000

30,000

40,000

1Q15 2Q15 3Q15 4Q15 1Q16

298 287 284 307 307

Corporate Information

Tivoli Lagos, Algarve, Portugal

33

BACK-UP FINANCING

CAPEX & BALANCE SHEET STRENGTH

Interest Bearing Debt to Equity

Net Interest Bearing Debt to Equity

THB million

THB million

CAPEX PLANS – COMMITTED & NEW OPPORTUNITIES LEVERAGE RATIOS

Corporate Information

Restaurant Hotel & Mixed-use Retail Trading

Additional CAPEX (non-committed average per annum) for New Opportunity/Acquisition(s)

EBITDA coverage on committed CAPEX

* Incremental capital increase from MINT-W5 exercise, assuming 100% MINT-W5 conversion

0

20,000

40,000

60,000

80,000

Outstanding Borrowing & Equity Un-Utilized Facility

Debt27,728

Debt49,878

Shareholders’ Equity38,895

Equity*7,981

In addition to committed CAPEX, MINT also set aside additional CAPEX for future investments and new opportunities. Even with recent acquisitions, leverage ratio remains below the internal policy, while earnings from newly acquired entities have yet to feed through to the results. With its solid balance sheet, MINT will be able to primarily use its internal cash flow and debt financing to fund its CAPEX requirements going forward. In addition, MINT and its senior debenture have “A+” rating by TRIS.

Note: Cash on hand as at end of 1Q16 is THB 5,455 million

X X

-

1.0

2.0

3.0

4.0

5.0

6.0

-

3,000

6,000

9,000

12,000

15,000

2015 2016F 2017F 2018F 2019F 2020F

* 2016 committed CAPEX includes the final stage of Tivoli acquisition and increased shareholding in the hotel portfolio in Africa

0.4

0.6

0.8

1.0

1.2

1.4

1Q15 2Q15 3Q15 4Q15 1Q16

1.14x

1.28xInternal Policy

34

FIVE-YEAR ASPIRATIONS

NPAT(THB)

1.4bn

2009

7.0bn 2020F

2015

2020F

1Q16

> 210 hotels

> 500 residences built to date

> 450 timeshare units

> 3,100 restaurants

> 360 retail shops & POS

(> 29,000 Sqm)

147 hotels

75 residences built to date

140 timeshare units

1,859 restaurants

307 retail shops & POS

(26,109 Sqm)

2009

30 hotels

1,112 restaurants

292 retail shops & POS

(14,275 Sqm)

Corporate Information

35

Five-year strategy consists of the following three key pillars, with clear goals and measurements.

MINT’S FIVE-YEAR STRATEGY 2016-2020

NPAT growth of 15-20% CAGR ROIC of >15%

Growth Pillars

Measure-ments

Drive a Portfolio of Own Brands, With Additional

Contribution From Selected International Brands

Maximize Asset Value and Productivity

Expand Through Existing and Future Strategic Investments &

Acquisitions

Asset-light Model

Mixed-use Initiatives

Total-system-sales growth of 15%

Revenues growth of over 10%

Improvement of margins

Revenues from overseas of 50%

Net profit from overseas of over 55%

2020 Goals

Strengthening of Hub / Cluster System

Corporate Information