Company PresentationAugust 2012

Anantara Eastern Mangroves

Abu Dhabi, UAE

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

2

AGENDA

2Q12 Results Recap & Progress Update

Appendix

The Path to our 5-Year Aspirations

3Anantara Uluwatu, Indonesia

1H12 Results Recap

44

6,000

8,000

10,000

2Q12 & 1H12 Results1H12 REVENUE INCREASE OF 26%

THB million +20% YoY

6,679

MINT REPORTED 1H12 REVENUE INCREASE OF 26% YoY, ATTRIBUTABLE TO STRONG PERFORMANCE OF HOTEL & MIXED-USE AND

RESTAURANT BUSINESSES, FULL OPERATIONS OF ANANTARA KIHAVAH IN THE MALDIVES AND ST. REGIS HOTEL BANGKOK, TOGETHER WITH

CONSOLIDATION OF OAKS.

6,278

8,030

7,345

8,767*

7,524

-

3,000

6,000

9,000

12,000

15,000

18,000

1H11 1H12

16,292

+26% YoY

12,957

THB million

Restaurant

Hotel & Mixed-Use

Retail Trading

-

2,000

4,000

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

Restaurant Hotel & Mixed-Use

Retail Trading Gain on Reclassification

5

of Investment in S&P

Restaurant

41%

Hotel &

Mixed-Use

49%

Retail

Trading

10%

* Note: Revenue of Anantara Vacation Club associated with the

inventory unit transfer in 1Q12 of THB 80 million has been adjusted to conform with the figures in this period

1H11 1H12

1,200

1,600

2,000

2,400

1H12 EBITDA INCREASE OF 38%

1H12 EBITDA INCREASED BY 38% YoY AS A RESULT OF THE CONTINUED RECOVERY OF EXISTING HOTEL OCCUPANCY AND ADR, THE

CONSOLIDATION OF OAKS AND NEW INVESTMENTS AND INITIATIVES, INCLUDING ST. REGIS AND ANANTARA KIHAVAH, TOGETHER WITH

ANANTARA VACATION CLUB, STARTING TO BEAR FRUIT THIS YEAR. EBITDA MARGIN IMPROVED AS A RESULT OF OPERATING LEVERAGE OF

BOTH HOTEL AND RESTAURANT BUSINESSES.

THB million

1,506

1,072

+22% YoY

2,254

1,369

2,245

2Q12 & 1H12 Results

1,311

600

1,200

1,800

2,400

3,000

3,600 3,557

2,578

+38% YoY

THB million

Restaurant

Hotel & Mixed-Use

Retail Trading

-400

-

400

800

1,200

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

Restaurant Hotel & Mixed-Use

Retail Trading Gain on Reclassification6

22.6%EBITDA

Margin

1,072

17.1% 17.2%*

* Excludes gain on reclassification of investments in S&P

of Investment in S&P

18.6% 25.6%

Restaurant

32%Hotel &

Mixed-Use

64%

Retail

Trading

4%

17.4%

-

1H11 1H12

EBITDA

Margin 19.9% 21.8%

800

1,000

1,200

1,400

1H12 NET PROFIT INCREASE OF 49%

THB million

1H12 NET PROFIT ROSE 49% YoY AS A RESULT OF IMPROVED PERFORMANCE OF HOTEL & MIXED USE AND RESTAURANT BUSINESSES,

TOGETHER WITH THE CONSOLIDATION OF OAKS. THE GROWTH RATE OF NET PROFIT EXCEEDED THAT OF REVENUE DUE TO THE IMPROVED

PROFITABILITY OF HOTEL& MIXED-USE AND RESTAURANT BUSINESSES, WITH NET MARGIN EXPANDING TO 10.1%

823

1,306

+30% YoY472

1,276

2Q12 & 1H12 Results

300

600

900

1,200

1,500

1,800

THB million+49% YoY

1,102

1,639

Restaurant

Hotel & Mixed-Use

Retail Trading

-200

-

200

400

600

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

Restaurant Hotel & Mixed-Use

Retail Trading Gain on Reclassification

7

12.3%Net

Margin

280

4.5% 3.6%*

+30% YoY

* Excludes gain on reclassification of investments in S&P

of Investment in S&P

472

6.4% 14.5%

Restaurant

36% Hotel &

Mixed-Use

59%

Retail

Trading

5%

364

4.8%

-

1H11 1H12

Net

Margin10.1%8.5%

OUR PROGRESS UPDATE – HOTEL & MIXED-USE

AS THE ORGANIC BUSINESS CONTINUES TO SEE IMPROVING PERFORMANCE, MINT CONTINUES TO BUILD ITS FOUNDATION FOR GROWTH

GOING FORWARD TO MEET OUR FIVE-YEAR STRATEGIC TARGETS

Progress Update

• Invested in Bundarika Villa &

Suites in Phuket

• Opened two new managed hotels

– Anantara Eastern Mangroves,

Abu Dhabi

• Invested in Oasis Resort Caloundra,

comprising freehold assets of 158

hotel rooms and 9 apartments,

together with management letting

rights contract in Sunshine Coast

• Anantara Sanya expected to be

Completed in 2Q12 Going into 3Q12

8

Abu Dhabi

– Anantara Uluwatu, Bali

• Closed Hua Hin Marriott Resort and

Spa as the land lease expires

• Acquired 18 units of inventories in

Bali

• Added another three units of

inventories in Bangkok

• Anantara Sanya expected to be

opened towards the end of 3Q12

OUR PROGRESS UPDATE – RESTAURANT

AS THE ORGANIC BUSINESS CONTINUES TO SEE IMPROVING PERFORMANCE, MINT CONTINUES TO BUILD ITS FOUNDATION FOR GROWTH

GOING FORWARD TO MEET OUR FIVE-YEAR STRATEGIC TARGETS

Progress Update

• Opened first two equity-owned

outlets in the Maldives

• Opening the first flagship full-

dining Coffee Club restaurant in

Ekamai, Bangkok in August 2012

• Opened one franchised outlet in

Egypt

Completed in 2Q12 Going into 3Q12

9

• Opened three franchised outlets in

Korea, bringing total number of

outlets in the country to 5 outlets

The Path to our 5-Year Aspirations

10

MINT: 5-Year StrategyMINT’S FIVE-YEAR STRATEGY 2011-2016

MINT’S FIVE-YEAR STRATEGY WAS FORMULATED MAINLY BASED ON THE FOLLOWING THREE KEY PILLARS, WITH THE SUPPORT OF THE

COMPANY’S ROBUST SET OF ORGANIZATIONAL CAPABILITIES, OPERATIONAL EXCELLENCE AND SYNERGY, AS WELL AS LONG-TERM

SUSTAINABILITY PROGRAM

Develop a Profitable

Portfolio of Own

Brands

ROIC > 15%

GOALS

Continually Enhance

Asset Productivity

Expand

Internationally

Through Strategic

Investments &

Acquisitions

Franchising Management Contracts

Mixed-Use

ROIC > 15%

NPAT ~15-20% CAGR

11

2007 2008 2009 2010 2016F2011

GEOGRAPHICAL DIVERSIFICATION

GEOGRAPHICALLY DIVERSIFY THE GROUP’S REVENUE SOURCE AND REDUCE RISK AND THE VOLATILITY OF CASH FLOW STREAM

1,611 1,236 1,892 1,400

-14%

101%11% 1%

114%

-1%

89% 99%

51%

49%

Net Profit (THB million)

2007 2008 2009 2010 2016F2011

19,089

14,029 16,515 17,244

96% 87% 82% 84%

4% 13% 18% 16% 60%

40%

Revenue (THB million)

27,278*

75%

25%

1,919*

85%

15%

MINT: 5-Year Strategy

12Thailand Overseas

2007 2008 2009 2010 2016F2011

Number of Hotel Rooms

4,114

2,3632,700

3,553

87% 84% 71% 72%

13%16%

29%28%

Thailand Overseas

2007 2008 2009 2010 2016F2011

Number of Restaurant Outlets

676

1,148 1,043

1,112

7%

33% 34% 34%

93% 67% 66% 66%

43%

57%

26%

74%

2,762

9,575

33%

67% 1,257

34%

66%

12,687

*Excluding gain from reclassification of S&P investment* Excluding gain from reclassification of investment in S&P and provision

for investment in China

Hotel: 5-Year StrategyHOTEL GROUP - FIVE-YEAR GROWTH DRIVERS

HOTEL GROUP’S REVENUE AND NET PROFIT GROWTH OVER THE NEXT FIVE YEARS WILL BE DELIVERED THROUGH BUILDING MULTI-BRAND

PORTFOLIO WITH THE FOLLOWING GROWTH LEVERS

Other

Mixed Use (e.g. Residential)

Other

Hotel Brands in the Portfolio

2011 2016E

13

FINANCIAL PERFORMANCE – HOTEL & MIXED-USE Hotel Updates

Revenue

THB Million

2,876 2,598

3,308 3,875

4,527

3,480

1,559

1H12 REVENUE AND PROFIT FROM HOTEL & MIXED-USE BUSINESS CONTINUED TO SEE IMPRESSIVE GROWTH YoY WITH IMPROVED

MARGINS.

Overall occupancy & ADR of MINT’s hotel

portfolio continued to improve

significantly YoY, due to relatively stable

political climate in the past year;

The new Anantara Kihavah and St. Regis

Bangkok, which reported losses during

start-up stage, saw considerable increase

in occupancy, helping both top line and

the profitability of the hotel portfolio;

Consolidation of Oaks’ performance since

Key Highlights+34%

YoY

5,474

8,007

1,508

2,285

+36%

+46% YoY

+52% YoY

14

EBITDA

NPAT

EBITDA

Margin

Net

Margin

1Q11

975

533 755

1,050

726

33.9%

586

38 101

433

881

90

20.4%

20.5%

1.5%

2Q11

Consolidation of Oaks’ performance since

June 2011 was another main

contribution, while post-acquisition plan

is on track;

Sales of Anantara Vacation Club is

becoming a meaningful contribution to

MINT’s real estates business;

Excluding one-time fair value adjustment

of the first 20% investment in Oaks from

AUD 0.35 to AUD 0.52 per share, or

revenues of THB 203 million and net

profit of THB 89 million, performance of

MINT’s hotel & mixed use business

improved even more significantly, with

revenue increase of 52% and net profit

increase of 81% YoY.

22.8%

3.0%

3Q11 4Q11

27.1%

11.2%

1Q12

34.4%

19.5%

1,508

624

971

1H11 1H12

20.9%

11.4% 12.1%

+36%

YoY

+134%

YoY

2.6%

2Q12

+56% YoY

27.5% 28.5%

MINT CONTINUED TO SEE IMPROVEMENT IN ITS OCCUPANCY AND REVPAR YoY, ATTRIBUTABLE TO IMPROVEMENT IN ALL CATEGORIES:

THAILAND AND OVERSEAS HOTELS, TOGETHER WITH THE CONSOLIDATION OF OAKS, WHICH COMMANDS RELATIVELY HIGH OCCUPANCY.

MINT’S HOTEL STATISTICS

THB

6,638

5,1124,953

5,483

6,039

5,230

3,981

2,871

3,3853,737

4,417

3,432

60%

56%

68%68%

73%

66%

40%

60%

80%

4,000

6,000

8,000

Hotel Updates

Revpar

+20% YoY THB

5,752 5,659

3,319

3,940

58%

70%

40%

60%

80%

4,000

6,000

8,000

Revpar

+19% YoY

15

RevparADR% Occupancy

* Note: Hotel Statistics include Oaks Hotel & Resort

No of rooms 4,237 9,593 9,596 9,575 9,707 9,838 9,593 9,838

2,871

0%

20%

0

2,000

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

0%

20%

0

2,000

1H11 1H12

INVESTMENT IN BUNDARIKA

MINT ANNOUNCED ITS SUCCESSFUL INVESTMENT IN BUNDARIKA RESORT AND SUITES IN PHUKET. THE INVESTMENT WILL FURTHER

ENHANCE MINT’S ALREADY STRONG PRESENCE IN PHUKET AND REINFORCE ITS CLUSTERING STRATEGY

Hotel Updates

JW Marriott Phuket(265 Rooms)

Anantara Phuket

Resort & Spa(83 Rooms)

Bundarika

Resort & Suites

(77 Rooms)

MINT’S PORTFOLIO IN PHUKET

HOTEL

16Note: Marriott Vacation Club & Mai Khao Beach Club previously recorded strong combined sales of over THB 6 billion.

Turtle Village Shopping Plaza

(In the process of building 100 villas)

Residential Project

(Planned extension on land

adjacent to BundarikaResort & Suites)

MIXED-USE

Oaks’ Expansion Track Record Post-Acquisition

OAKS’ STRONG PERFORMANCE

WITH SUCCESSFUL POST-ACQUISITION STRATEGY, OAKS’ ORGANIC PERFORMANCE CONTINUED TO EXPAND. MOREOVER, WITH THE

ADDITIONAL CREDIT LINE, OAKS IS SET FOR NEW MLR ACQUISITIONS. WITH ITS SIGNIFICANT CONTRIBUTION TO THE HOTEL & MIXED-USE

BUSINESS, OAKS IS ONE OF THE IMPORTANT GROWTH DRIVERS FOR MINT GOING FORWARD.

Hotel Updates

OAKS’ CONTRIBUTION TO MINT’S HOTEL & MIXED-USE BUSINESS IS QUITE SIGNIFICANT

0%

25%

50%

75%

100%

2011 1H12

Others

Oaks

OAKS’ REVENUE

CONTRIBUTION

TO TOTAL HOTEL & MIXED-USE

OAKS’ EBITDA

CONTRIBUTION

TO TOTAL HOTEL & MIXED-USE

23%

77%

30%

70%

0%

25%

50%

75%

100%

2011 1H12

Others

Oaks

23%

77%

28%

72%

Oaks’ Expansion Track Record Post-Acquisition

17

• Announced acquisition of

Grand Hotel in Gladstone. The

property is to be transformed

from a restaurant, pub and

casino into a 140-room hotel

(to be completed by 2013)

• Acquired additional MLR

contracts in Australia:

Broom (140 rooms) and

Monkomo (56 rooms) in

1Q12

• Acquired 25% of Tidal

Swell, the owner of four

properties currently

managed by Oaks

• Invested 100% stake in Oasis

Resort Caloundra, comprising

158 hotel rooms and 9

apartments, together with

MLR in Sunshine Coast

EXPANSION INTO MARKETS INSIDE AND OUTSIDE THAILAND WILL CONTRIBUTE WELL TO REVENUE & PROFIT IN COMING YEARS.

MINT’S HOTEL EXPANSION PLANS

Investment Hotel

2013

• Xishuangbanna, China (103 Rooms)

• Sanya, China (122 Rooms)

• Uluwatu, Bali (77 Rooms)

• Eastern Mangroves, UAE (222 Rooms)

Management Contract

2012• Masai Mara Camp,

Kenya (16 Rooms)

• Amboseli Camp,

Kenya (16 Rooms)

• Serengeti, Tanzania

(20 Rooms)

• Meru, Kenya

• Grand Hotel,

Gladstone

Australia

• Bundarika,

Phuket

(77 Rooms)

• Al Yamm, UAE (30 Rooms)

• Al Sahel, UAE (30 Rooms)

• Chengdu, China (150 Rooms)

• Broome, Australia (140

Rooms)

• Monkomo Queensland

Australia (56 Rooms)

Hotel Updates

• Oasis Resort

Caloundra,

Queensland,

Australia

(158 rooms)

18

9 Hotels / 796 Rooms

• Al Akhdar, Oman (123 Rooms)

• Al Madina, Oman (120 Rooms)

• Wayanad, India (95 Rooms)

• Mahabalipuram, India (130 Rooms)

• Udaipur, India (70 Rooms)

• Qiandao Lake, China (120 Rooms)

20 Hotels & Properties / 2,279 Rooms

2014

Total

• Meru, Kenya

(16 Rooms)

Australia

(143 Rooms)

(77 Rooms)

• Sri Lanka

Phase 1

(80 Rooms)

• Sri Lanka

Phase 2

(70 Rooms)

• Chengdu, China (150 Rooms)

• Chongqing, China (150 Rooms)

• Baoting, China (130 Rooms)

• Luang Prabang, Laos (115 Rooms)

• La Chaland, Mauritius (160 Rooms)

• Salalah, Oman (136 Rooms)

• Bangkok

(200 Rooms)

MINT’S COMPOSITION OF HOTEL ROOMS ARE EXPECTED TO CHANGE OVER THE NEXT FIVE YEARS. MINT WILL FOCUS ON THE EXPANSION

OF OUR OWN BRANDS, ANANTARA AND OAKS, MORE EXPONENTIALLY THROUGH ASSET LIGHT MODEL (MANAGEMENT CONTRACTS), WITH

GEOGRAPHICAL FOCUS OUTSIDE OF THAILAND.

MINT’S HOTEL PORTFOLIO

No of Rooms

8,000

10,000

12,000

14,000

12,687

8%

45%8,000

10,000

12,000

14,000

No of Rooms

8,000

10,000

12,000

14,000

No of Rooms

By LocationBy OwnershipBy Brand

9,838

7%

Hotel Updates

12,687

9,838

12,687

9,838

-

2,000

4,000

6,000

8,000

2005 1H12 2016F

Others Oaks

Avani Anantara

Four Seasons Marriott

2,169

55% 6% 4%

20%

27%

4%

19%

52%

37%

6%

3%

-

2,000

4,000

6,000

8,000

2005 1H12 2016F

Managed

Joint Venture

Own Equity

92% 25% 25%

8%

7%6%

68% 69%

2,169

-

2,000

4,000

6,000

8,000

2005 1H12 2016F

International

Outside Bangkok

Bangkok

36%15% 14%

56%

16% 12%8%

69% 74%

2,169

19

5%

2%

ANANTARA VACATION CLUB – STRONG BUSINESS MODEL ANANTARA VACATION CLUB’S SOLID BUSINESS MODEL WILL NOT ONLY DRIVE REVENUE AND EARNINGS OF ITSELF BUT WILL ALSO

ENHANCE VALUE PROPOSITION OF THE HOTEL GROUP AS A WHOLE. THE SYNERGISTIC BENEFITS OBTAINED ARE EXPECTED TO BE MUCH

GREATER THAN SUM OF THE PARTS

Experienced

Management

Expansion of Footprint Alongside Anantara Hotels to Help Enhance Value Proposition of the Group as a Whole

Key Success FactorsTo Contribute to Revenue and Earnings Growth

Mixed Use Update

Strong

“Anantara”

Brand

Affordability

for Consumers

vs. Pure

Property

Project

Synergistic

Opportunities

with MINT’s

Hospitality

Business

Return

Enhancement

Thailand

New Zealand

Bali

Sri Lanka

Middle East

Australia

China

Mauritius

Maldives

South Africa

20

Mixed Use UpdateANANTARA VACATION CLUB – STRONGER MOMENTUM EXPECTED IN 2012-16

SALES OF AVC CONTINUED TO GROW REMARKABLY IN 1H12, AND THE STRONG MOMENTUM IS EXPECTED TO CONTINUE INTO 2012 AND

BEYOND, AS MORE INVENTORIES ARE ADDED AND EFFECTIVE MARKETING EFFORTS FOCUSED ON TARGET MARKETS ARE IMPLEMENTED.

SALES ARE EXPECTED TO MORE THAN DOUBLE WITH BOTTOM LINE STARTING TO CONTRIBUTE STRONGLY TO THE GROUP’S PROFITABILITY

IN 2013

Thailand,

21%

Singapore,

21%

Malaysia,

13%

Hong

Kong, 11%

China, 5%

Australia,

India, 2%

USA, 2%

AVC Members

22 2746

360

0

100

200

300

400

Samui

Phuket

Samui

Phuket

Queenstown

10 Destinations

100 villas

being built in

Phuket

No of Units

Inventories is expected to be added with over 10 destinations over the next five years

Bangkok

Samui

Phuket

Bali

Queenstown4%

THB Million

Quarterly sales showed improving momentum

2011 2012E 2013E 2014E 2015E2011

Annual sales growth is expected to pick up exponentially as more inventories in various destinations are coming on stream

USA, 2%Japan, 2%Others,

18%

21

0

100

200

300

400

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

Note: As at 30 Jun 2012

0

4Q10 1Q12 2Q12 2016E

RESIDENTIAL PROPERTY DEVELOPMENT LEVERAGING ON HOTEL BRANDS

Sold

56%

Inventory

44%

Sold

67%

Inventory

33%

SALES OF ST. REGIS AND THE ESTATES SAMUI ARE EXPECTED TO CONTINUE THEIR IMPETUS IN 2012-13. MINT ALSO PLANS ADDITIONAL

RESIDENTIAL PROJECTS IN THE PIPELINE, THE SELLING ACTIVITIES OF WHICH IS EXPECTED TO TAKE PLACE IN 2014. THE NEW PROJECTS

WILL ALSO LEVERAGE ON STRONG HOTEL BRANDS IN THE PORTFOLIO.

As at 1H12, 56% of the total sellable area has been sold & recognized

MINT plans

As at 1H12, 62% of the total sellable area has been sold & recognized

Mixed Use Update

22

2006 2007 2008 2009 2010 2011 1H12 2012 2012 2012-13

St. Regis

Sold

Pending

Transfer

St. Regis

Potential;

Deposit

Collected

Remaining

Inventory

MINT plans

to launch

additional

residential

projects

between

2014-2016

Restaurant: 5-Year StrategyRESTAURANT - FIVE-YEAR GROWTH DRIVERS

RESTAURANT BUSINESS’ REVENUE AND NET PROFIT GROWTH OVER THE NEXT FIVE YEARS WILL BE DELIVERED THROUGH EXPANDING

BUSINESS INSIDE AND OUTSIDE THAILAND, LEVERAGING EXISTING MULTIPLE BRANDS IN THE PORTFOLIO AND LOOKING OUT FOR

ACQUISITION OPPORTUNITY

Strategic Acquisition

Internationalize

Transform China

2011 2016E

Thailand Business

International Franchise

23

1H12 PERFORMANCE OF THE RESTAURANT BUSINESS CONTINUED TO EXHIBIT STRONG AND STABLE GROWTH, WITH REVENUE GROWTH

OF 14% AND NET PROFIT GROWTH OF 40% YoY

FINANCIAL PERFORMANCE - RESTAURANT

Revenue

THB million

2,963 2,901 2,880

2,954

3,451

3,237

Key Highlights

Most brands, except Thai Express,

continued to exhibit strong and

positive same store sales growth in

1H12, from increases in both revenue

per customer and customer count.

The increase were mainly due to a

combination of robust domestic

consumption and successful

marketing strategies;

Same store sales growth, together

Restaurant Update

+14% YoY

+19% YoY

5,864

6,688

950 1,132

+12%

YoY

+14%

YoY

24

EBITDA

NPAT

EBITDA

Margin

Net

Margin

1Q11

467 483 389

492 583

549

15.8%

205 218

131

225

319 273

6.9%

Same store sales growth, together

with outlet expansion, translated into

total system sales growth of 14.8% in

1H12;

The full consolidation of Thai Express’

performance in 1H12, together with

the 31% share of profit in S&P

Syndicate, helped improve the

restaurant business’s margin;

EBITDA & net profit margin expanded

despite the minimum wage increase

which took effect since October

2011, attributable to improved cost

structure and operating leverage.

16.6%

2Q11

7.5%

13.5%

3Q11

4.5%

4Q11

16.6%

7.6%

1Q12

9.2%

+40% YoY

16.9%

950

423

592 +25%

YoY

17.0%

2Q12

8.4%

16.2% 16.9%

1H11

7.2%

1H12

8.8%

MINT CONTINUED TO SEE STRONG GROWTH MOMENTUM FOR SAME STORE SALES AND TOTAL SYSTEM SALES ACROSS MOST BRANDS IN

1H12. FOR RESTAURANT OUTLETS, MINT EXPECTS TO DOUBLE ITS, BOTH THROUGH FRANCHISED AND EQUITY-OWNED MODEL, AND BOTH

DOMESTICALLY AND OVERSEAS IN FIVE YEARS. THE PROPORTION OF OVERSEAS OUTLETS IS EXPECTED TO INCREASE TO MORE THAN 40%

OVER THE NEXT FIVE YEARS

MINT’S BRAND PERFORMANCE

Overall SSS & TSS

12.3%

9.8%

11.9%

17.4%

14.4%

12.7%

16.0%

13.6%

10%

15%

20%

Restaurant Update

34%

66%

34%

66%7%

93%

43%

57%558

2,762

Restaurant Outlets Breakdown by Geography

International

Thailand

1,257 1,274

25

Same Store Sales Growth Total System Sales Growth

No. of

Outlets1,157 1,169 1,204

7.8%

9.8%

6.5%7.6%

6.5%

0%

5%

10%

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

1,257 1,264 1,274

2005 2016F

43%

57%14%

86%

53%

47%

1,274

558

2,762

Restaurant Outlets Breakdown by Ownership

Franchised

Owned

2011

2005 2016F2011

2Q12

1,257

44%

56%

2Q12

2Q12 FOOD AND PAPER COSTS AS A PERCENTAGE OF SALES CONTINUED TO COME DOWN TO ITS LOWEST LEVEL AS A RESULT OF

CONTINUED EFFECTIVE COST MANAGEMENT PROGRAM.

EFFECTIVE MANAGEMENT OF FOOD COSTS

35.9%

34.9% 35.2% 35.2%

34.5%35%

36%

% of Food & Paper Costs to Sales

Restaurant Update

26

34.1%

33.3%

33.0%

33.9%

33.2% 33.2%33.0%

34.0%

32.7%

31.8% 31.7%

32.0%

31.5%31%

32%

33%

34%

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

Fixed Long-

Term Contract Prices

Menu-Mix Re-Engineering

Supply Chain Management

Maximization of FTA Benefit

Pro-Active

Inventory Management

Strategy

Note: Food and paper costs as a percentage of sales rose in first quarter of every year as a result of “Buy-one-get-one-free” promotional campaign launched in

March of every year to celebrate the anniversary of The Pizza Company

CHINA – IMPROVEMENT SEEN; MORE INITIATIVES TO EXPEDITE TURN-AROUND

CHINA OPERATION HAS SEEN IMPROVEMENT OVER THE PAST FEW YEARS WITH SAME STORE SALES GROWTH CLIMBING INTO POSITIVE TERRITORY

ALONGSIDE IMPROVING BRAND AWARENESS. PROFITABILITY HAS ALSO PICKED UP WITH SIZZLER REACHING BREAK-EVEN POINT AT THE STORE

CONTRIBUTION LEVEL AND THE PIZZA COMPANY ACHIEVING POSITIVE EBITDA AT STORE LEVEL IN 2011. IN 1H12, FINANCIAL PERFORMANCE OF CHINA

OPERATIONS IMPROVED SIGNIFICANTLY. FURTHER IMPROVEMENT WILL BE DRIVEN BY THE FOLLOWING TURN-AROUND LEVERS

Drive Growth of Existing Brands

Contribution from

New Brand Introduction

Acquisition Cost Reduction &

Strong Internal Control

Strengthen

Operational

Excellence &

Human Resource Capability

Growth Drivers Enablers

Restaurant Update

Same-Store Sales Growth of Restaurants in China

-25%

-15%

-5%

5%

15%

25%

Jan

-06

Ma

r-0

6

Ma

y-0

6

Jul-

06

Se

p-0

6

No

v-0

6

Jan

-07

Ma

r-0

7

Ma

y-0

7

Jul-

07

Se

p-0

7

No

v-0

7

Jan

-08

Ma

r-0

8

Ma

y-0

8

Jul-

08

Se

p-0

8

No

v-0

8

Jan

-09

Ma

r-0

9

Ma

y-0

9

Jul-

09

Se

p-0

9

No

v-0

9

Jan

-10

Ma

r-1

0

Ma

y-1

0

Jul-

10

Se

p-1

0

No

v-1

0

Jan

-11

Ma

r-1

1

Ma

y-1

1

Jul-

11

Se

p-1

1

No

v-1

1

Jan

-12

Ma

r-1

2

Ma

y-1

2

27

Retail Trading Update

1H12 REVENUE OF RETAIL TRADING & CONTRACT MANUFACTURING DECREASED BY 1% AS MANUFACTURING BUSINESS HAS NOT YET

RESUMED FULL OPERATIONS, WHILE EBITDA AND NET PROFIT SAW SIGNIFICANT INCREASES ON THE BACK OF THE INSURANCE CLAIM

PARTIALLY RECEIVED IN 1Q12.

FINANCIAL PERFORMANCE – RETAIL TRADING & CONTRACT MANUFACTURING

Revenue

THB million840

779 789

516

789 807

64 57 103

Key Highlights

1H12 revenue from retail trading

increased by 15% YoY, signifying a

gradual rebound from the floods in

4Q11;

However, 1H12 revenue from contract

manufacturing declined by 25% YoY,

despite partial recovery of insurance

-1% YoY

+16% YoY

1,619 1,596

121 139

+4%

YoY

-36%

YoY

28

EBITDA

NPAT

EBITDA

Margin

Net

Margin1Q11

64 57 56

-173

103

36

7.6%

32 23 21

-186

76

1

3.8%

7.3%

2Q11

3.0%

13.1%

9.6%

7.2%

2.6%

3Q11

despite partial recovery of insurance

claim, as the NMT factory has not fully

resumed operations;

As a result of the insurance claims,

retail trading & contract

manufacturing business saw an

expansion of EBITDA and net profit

margins in 1H12;

NMT plant resumed its full operations

in June 2012, with increased order

from global fast moving consumer goods (FMCG) players.

-33.5%

4Q11

-36.2%

1Q12

+39% YoY

55 77

YoY

-95%

YoY

4.5%

0.2%

2Q12

7.5% 8.7%

3.4%

1H11

4.8%

1H12

TOTAL STORE SALES GROWTH INCREASED BY 23% IN 2Q12, ALTHOUGH COMPARABLE SALES GROWTH WAS STILL NEGATIVE, AS

CONSUMPTION SENTIMENT FOR DISCRETIONARY GOODS HAVE NOT FULLY RECOVERED SINCE THE FLOODS IN 4Q11. SALES PER SQ.M.

DECLINED BOTH YoY AND QoQ IN 2Q12 BECAUSE OF THE DISCOUNTED AND CLEARANCE SALES OF FASHION AND COSMETICS BRANDS.

MINT’S RETAIL TRADING STATISTICS Retail Trading Update

THB

17.2%

52.8%

29.4%

21.0%

43.0%

26.0% 23.0%20%

30%

40%

50%

60%

29,984

27,38924,642

23,386

26,31625,067

20,000

30,000

40,000

29

Comparable Sales Growth Total Store Sales Growth

231No. of

Outlets226 231No. of

Outlets226

Fashion & Cosmetic Sales per Sq.m.

239 239246 246

17.2%

-11.5%

-6.8%-4.4%-4.0%

5.0%

-20%

-10%

0%

10%

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

0

10,000

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

240 240247 247

4.0

6.0

8.0

4,000

6,000

8,000

FINANCING CAPEX WITH FINANCIAL DISCIPLINE

DISCIPLINED ACQUISITION(S) ON THE BACK OF STRINGENT INVESTMENT POLICY PROVIDES UPSIDE FOR GROWTH

Committed CAPEX & Amount Set Aside for New Acquisition(s)

• Revenue % of Group Revenue

• Profit % of Group Profit

• IRR (WACC + Premium)

• ROIC in % within Certain Year

• Payback Period

Minimum Size

Minimum Return

Investment Criteria – Sample Measurement & Metrics

• Cash Flow % of Group Cash Flow

CAPEX

XTHB million

-

2.0

-

2,000

2011 2012F 2013F 2014F 2015F 2016F

30

• Profit Break-Even Point

• Cash Flow Break-Even Point

• Credit Ratios

• Brand Strength

• Quality of Management

• Potential to Expand Locally & Internationally

• Controlling Stake

Balance Sheet Strength

Performance

Strategic Position

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

Restaurant Hotel & Mixed-use Retail trading

EBITDA coverage on committed CAPEX

0.0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

BALANCE SHEET STRENGTH

LEVERAGE & COST OF CREDITS ARE UNDER CONTROL WHILE BACK-UP FUNDING FACILITIES HAVE BEEN SECURED. IN ADDITION, MINT HAS

MAINTAINED INVESTMENT GRADE CREDIT RATING OF “A” BY TRIS

Borrowing Cost

Internal Policy

Leverage RatiosX

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12

MINT's Effective Interest Rate MLR

Financial Discipline

0

10,000

20,000

30,000

40,000

Outstanding Borrowing &

Equity

Un-Utilized Facility

Interest Bearing Debt to Equity

Net Interest Bearing Debt to Equity

DebtDebt

Shareholders’Equity

Equity*

31* Incremental capital increase from MINT W-4 exercise, assuming 100% MINT-W4 Conversion

Borrowing Structure Back-up Financing

THB million

MINT's Effective Interest Rate MLR

84%

64% 65% 71% 72% 66%

16%

36% 35% 29% 28% 34%

0%

20%

40%

60%

80%

100%

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

Floating Rate Fixed Rate

GROWTH OF ALL BUSINESS UNITS ARE ON TRACK 5-Year Targets

� 22 hotels

� 676 restaurants

� 316 retail stores (14,524 Sqm)

2007

� > 140 hotels

� + residences

� > 300 timeshare units

� > 2,700 restaurants

� > 300 retail stores (23,877 Sqm)

2007

2016F

32

1H12

2016F� 77 hotels

� 67 residences

� 46 timeshare units

� 1,274 restaurants

� 247 retail stores (20,016 Sqm)

1H12

Appendix

33

S&P OPERATES A CHAIN OF RESTAURANTS AND BAKERY SHOPS WITH OVER 350 OUTLETS IN 7 COUNTRIES PRODUCING AND DISTRIBUTING

FOOD AND BAKERY PRODUCTS UNDER THE S&P BRAND. FROM 3Q11 ONWARDS, S&P’S PERFORMANCE WILL BE RECOGNIZED THROUGH

EQUITY ACCOUNTING METHOD. 1H12 REVENUES INCREASED AS A RESULT OF BOTH DOMESTIC AND INTERNATIONAL EXPANSION, WHILE

MARGINS IMPROVED BECAUSE OF INCREASE IN RETAIL PRICE, EFFICIENT PROCUREMENT AND LOWER MARKETING EXPENSES

CONTINUED & STRENGTHENING PARTNERSHIP WITH S&P

Shareholding Structure

Revenue

THB million

Restaurant Update

4,437 4,764 5,282

5,879

39% 39%

26% 31%

35% 30%

0%

20%

40%

60%

80%

100%

Others

MINT

Sila-on & Riva Families

5%

+11% YoY

+19% YoY

+13% YoY

+44% YoY

2,6793,019

267562 487

683 7511,097

1,097

46

55

(131)

61

1,054

1,054 1,054

4.8%

19.0% 20.8%22.9%

26.3%

31.3% 31.3%

-10%

0%

10%

20%

30%

40%

-500

0

500

1,000

1,500

2,000

2,500

3,000

2006 2007 2008 2009 2010 2011 1Q12

Investment Cost

Unrealized gain (loss)

Gain from investment reclassification

% shareholding

34

MINT’s Investment in S&P

THB million

313

617744

1,805

EBITDA

NPAT

EBITDA

Margin

Net

Margin

2,151

356

617

20102008 2009

583 677

812 963

13.1% 14.2% 15.3%

225

293 384

454

5.1% 6.2% 7.2%

16.3%

7.7%

2011

0%

Pre-Tender Offer Post-Tender Offer

+19% YoY

+18% YoY

+44% YoY

+110% YoY

358

514

137

287

1H11 1H12

17.0%

9.5%

13.4%

5.1%

2,151

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

1H11 1H12

MINT’S FEEDER MARKETS

Number of Room Nights

MINT’s 1H12 Feeder Markets

Hotel Updates

China +13%

Hong Kong +25%

Japan +35%

Singapore +47%

Korea +18%

11%

31%

17%

20%

24%25%

MINT’s 1H12 Feeder MarketsUK +3%

Germany +16%

Russia +45%

Australia +23%

28%

18%India +31%

MINT CONTINUES TO SEE IMPROVEMENTS ACROSS ALL OF ITS FEEDER MARKETS, WITH A 21% YoY INCREASE IN 1H12 OVERALL

ROOMNIGHTS COMPARED TO INCREASE IN THAILAND’S TOURIST ARRIVALS OF 8% YoY.

Thailand,

12%

East Asia,

27%

Europe,

33%

The

Americas,

11%

South Asia,

3%

Oceania,

5%

Middle

East, 7%

Africa &

Others, 2%

0

400,000

800,000

1,200,000

China Japan Korea Russia India

1H11 1H12

0

Thailand East Asia Europe The Americas South Asia Oceania Middle East Africa & Others

MINT’s 1H12 Feeder Markets Thailand’s Top 5 Feeder MarketsNumber of

Tourists

* Note: MINT’s feeder market excludes Oaks’

35

29%

11%5%

12%6%

THAILAND HAS BEEN RESILIENT TO SEVERAL GLOBAL CRISIS OVER THE YEARS, AS EVIDENCED BY THE INCREASED EUROPEAN ARRIVALS.

THAILAND HOTEL RATES REMAIN COMPETITIVE COMPARED TO THE REGION.

EUROPE & US TOURISTS Hotel Updates

0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000Europe US

Number of Tourists

Financial Crisis

36* Note: Rate of one night at Four Seasons on Sept 1, 2011 for a standard room

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

0

100

200

300

400

500

600

Hong Kong Tokyo Singapore Mumbai Sydney Shanghai Bangkok Jakarta

USD / Night

Dot com

bubble

911 SARS Tsunami London

bomb

Bangkok

Coup

Bird Flu

Airport

Closure

Pattaya

RiotRatchprasong

Riot

Number of tourists from

Europe still held up during the crisis

Thailand hotel rates

remain competitive in the region

HOTEL INDUSTRY OUTLOOK IS EXPECTED TO GRADUALLY RECOVER ON THE BACK OF INCREASING TOURIST ARRIVAL.

MillionTourists Arrival to Thailand – Yearly Trend

TOURIST ARRIVAL TO THAILAND

-10%

0%

10%

20%

30%

0

5

10

15

20

25

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012F

Hotel Updates

Source: Tourism Authority of Thailand and Bank of Thailand

Million Tourist Arrival to Thailand – Monthly Trend

37

Tourist Arrival % Change

-40%

-20%

0%

20%

40%

60%

80%

0.0

0.5

1.0

1.5

2.0

2.5

Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12

Hotel Updates

BANGKOK HAS SEEN NEW SUPPLY IN RECENT YEARS AND WILL SEE MORE ESPECIALLY IN 2012

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Number of Rooms

LUXURY HOTEL SUPPLY IN BANGKOK

Source: HVS Reseach

2011A No. of Rooms

The Regent Bangkok

Sofitel Bangkok, Sukhumvit 13

Crowne Plaza Sukhumvit

Hotel Okura Bangkok

W Hotel Bangkok

Le Meridien Suvarnabhumi Golf Resort and Spa

Hilton Sukhumvit Bangkok

DoubleTree by Hilton, Sukhumvit Bangkok

327

345

342

242

403

214

287

182

2012F

Aloft Bangkok Sukhumvit 11

Park Plaza Bangkok Asoke

Four Points by Sheraton, Sukhumvit

St Regis Bangkok

297

120

436

227

The Langham Sukhumvit Bangkok 230

No. of Rooms

2013F

38

INTRODUCING THE NEW “AVANI” BRAND

“Avani Bentota Resort & Spa”, Sri Lanka, was a

rebrand of “Serendib”. The resort is located some 64km south of the capital Colombo

“Avani Kalutara Resort”, Sri Lanka, was a rebrand

of “Kani Lanka”. The hotel is at the tip of the KaluGanga river mouth in Kalutara with 105 rooms

MINT expects to grow Avani beyond Sri Lanka and

MINT ANNOUNCED THE LAUNCH OF THE AVANI BRAND, WHICH WILL HELP THE COMPANY PENETRATE INTO ANOTHER MARKET SEGMENT, IN ADDITION TO THE EXISTING FIVE-STAR “ANANTARA” BRAND

Avani in Bangkok will be a part of the extension

of Anantara Bangkok Riverside Resort & Spa

2011

2014

Hotel Updates

MINT expects to grow Avani beyond Sri Lanka and

Bangkok with an aim of having approximately 6 Avani hotels in the next five years

Avani Kalutara, Sri Lanka

39

2011-2016

OAKS IS ONE OF AUSTRALIA’S LARGEST HOTEL AND RESORT OPERATORS Hotel Updates

Serviced Suites Brand Positioning Matrix Major Australian Serviced Suites Operators

OAKS SERVICES THE SHORT-TO-MEDIUM STAY CORPORATE AND LEISURE MARKETS.

40

Source: CBRE Hotels

As of August 2009, based on number of rooms

Revenue Contribution

Source: CBRE Hotels

Customer Mix of Major Australian Serviced Suites Operators

Letting fees

37%

Service

charges

39%

Ancillary guest

services

8%

Other sale

revenue

16%

Source: Oaks’ financial statements; info as at FY2011 (ending June 2011)

International