Financial Results

Fourth Quarter and Full-Year 2016

Bakery Food Atrium Restaurant

BreadTalk Group Limited

FY 2016 FINANCIAL HIGHLIGHTS Income Statement Highlights

2

S$ Million 4Q 2016 4Q 2015 Y/Y FY 2016 FY 2015 Y/Y

Revenue 153.3 155.1 -1.1% 615.0 624.1 -1.5%

Bakery 76.6 75.5 1.5% 305.9 307.9 -0.7%

Food Atrium 38.1 42.9 -11.1% 158.9 173.1 -8.2%

Restaurant 38.6 36.7 5.0% 150.2 143.2 4.9%

EBITDA 24.2 22.0 10.2% 83.6 77.6 7.8%

Bakery 5.8 6.3 -8.2% 30.3 22.4 35.5%

Food Atrium 6.8 2.9 130.6% 12.2 17.9 -31.8%

Restaurant 8.6 13.8 -37.6% 30.5 33.9 -9.9%

Others 3.0 (1.1) 366.9% 10.6 3.4 207.1%

EBITDA Margin 15.8% 14.2% +1.6 ppt 13.6% 12.4% +1.2 ppt

Bakery 7.6% 8.4% -0.8 ppt 9.9% 7.3% +2.6 ppt

Food Atrium 17.7% 6.8% +10.9 ppt 7.7% 10.3% -2.6 ppt

Restaurant 22.3% 37.6% -15.3 ppt 20.3% 23.7% -3.4 ppt

Net Profit 4.4 1.1 286.6% 11.4 7.6 50.4%

Net Margin 2.9% 0.7% +2.2 ppt 1.9% 1.2% +0.7 ppt

Core F&B Net Profit 4.6 (1.8) 361.8% 6.9 5.1 35.6%

Core F&B Net Margin 3.0% -1.1% +4.1 ppt 1.1% 0.8% +0.3 ppt

EPS (cents) 1.57 0.41 287.7% 4.06 2.69 51.0%

DPS (cents) 2.00 1.00 100.0% 3.85 1.50 156.7%

3

GROUP KEY FINANCIAL HIGHLIGHTS

FY 2016 REVENUE: S$615.0M FY 2016 REVENUE BY GEOGRAPHY FY 2016 EBITDA: S$83.6M

EBITDA MIX BY BUSINESS REVENUE MIX BY GEOGRAPHY REVENUE MIX BY BUSINESS

49%

28%

23%

Bakery $305.9m

50%

Food Atrium $158.9m

26%

Restaurant $150.2m

24%

FY 2016

53%

31%

12%

4%

Singapore $336.5m

55% China $174.5m

28%

Hong Kong $66.4m

11%

Others $37.6m

6%

FY 2015

FY 2016

29%

23%

44%

4% Bakery $30.3m

36%

Food Atrium $12.2m

15%

Restaurant $30.5m

36%

Others $10.6m

13%

FY 2015

FY 2016

FY 2015

FY 2016 FINANCIAL HIGHLIGHTS Balance Sheet Highlights

4

CASH & CASH EQUIVALENT VS NET DEBT

CURRENT ASSET VS CURRENT LIABILITIES

121

61

50

60

70

80

90

100

110

120

130

FY14 FY15 1Q16 2Q16 3Q16 4Q16

Cash and cash equivalents (S$ Million) Net debt (S$ Million)

S$ Million FY 2016 FY 2015

Total assets 534 545

Cash and cash equivalents 121 95

Accounts receivables 82 74

Inventories 10 10

Current assets 213 179

Property, plant and equipment 181 206

Investment securities 73 90

Non-current assets 321 366

Total liabilities 382 399

Accounts payables 87 94

Current liabilities 218 262

Non-current liabilities 164 136

Borrowings and debt securities 182 202

Short term 32 82

Long term 150 120

Net debt 61 107

83

5

0

50

100

150

200

250

300

FY15 1Q16 2Q16 3Q16 4Q16

Net current liabilities (S$ Million) Current assets (S$ Million)

Current liabilities (S$ Million)

FY 2016 FINANCIAL HIGHLIGHTS Cash Flow Highlights

5

S$ Million 4Q 2016 4Q 2015 FY 2016 FY 2015

Operating cash flow before working capital changes 24 26 88 83

Net cash flow from operating activities 27 25 89 66

Less:

Capital expenditure (7) (9) (37) (37)

Investment in associate & joint venture - (1) (3) (3)

Net cash flow used in investing activities (7) (9) (25) (58)

Free cash flow 20 15 49 26

Net (decrease)/increase in bank borrowings (11) (8) (21) 4

Net cash flow from (used in) financing activities (14) (13) (38) (10)

Net cash flow 6 3 26 (1)

6

FY 2016 FINANCIAL HIGHLIGHTS Financial Ratios

FY 2016 FY 2015

Trade Receivables Turnover (days) - Franchisee 78 93

Trade Receivables Turnover (days) - Non franchisee 2 2

Total Receivables Turnover (days) 7 8

Inventory Turnover (days) 26 24

Trade Payables Turnover (days) 30 27

Cash Conversion Cycle (days) 3 5

Net Debt/Shareholder's Equity 0.47x 0.83x

Net Debt/EBITDA 0.73x 1.38x

EBITDA/Interest expense 14.10x 14.56x

STRONG PRESENCE ACROSS ASIA Strong foothold across 17 territories in Asia and Middle East

7

OUTLET DISTRIBUTION BY GEOGRAPHY OUTLET DISTRIBUTION BY BUSINESS SEGMENT

China 423

Others 355

Singapore 167

Thailand 6

Bakery 862 0 862

Direct Operating 266 (6) 260

Franchise 596 6 602

Food Atrium 65 (8) 57

Restaurant 30 2 32

Din Tai Fung 22 2 24

Ramen Play 6 0 6

San Pou Tei 2 0 2

FY 2015

Net Increase/

(Decrease) FY 2016

SEA: Malaysia, Thailand, Philippines, Indonesia, Vietnam & Cambodia

International: Kuwait, Sri Lanka, Bahrain, Oman, Saudi Arabia & Qatar

BAKERY DIVISION

8

REVENUE FY 2016 REVENUE BY GEOGRAPHY

EBITDA

Singapore 43%

China 44%

Hong Kong 10%

SEA* 2%

International 1%

50

100

150

200

250

300

350

400

FY10 FY11 FY12 FY13 FY14 FY15 FY16

Revenue (S$ Million)

-0.7%

11.0%

9.3%

8.6% 8.8%

7.8%

7.3%

9.9%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

12.0%

2

7

12

17

22

27

32

FY10 FY11 FY12 FY13 FY14 FY15 FY16

EBITDA (S$ Million) Margin (%)

BAKERY DIVISION

9

SEA: Malaysia, Thailand, Philippines, Indonesia, Vietnam & Cambodia

International: Kuwait, Sri Lanka, Bahrain, Oman, Saudi Arabia & Qatar

NUMBER OF BAKERY OUTLETS FY 2016 OUTLET DISTRIBUTION BY GEOGRAPHY

China 394

Hong Kong 24

Singapore 123

SEA* 288

International 33

129

862 862

0

200

400

600

800

1000

FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16

Number of outlets

FOOD ATRIUM DIVISION

10

REVENUE FY 2016 REVENUE BY GEOGRAPHY

EBITDA

SEA: Malaysia & Thailand

0

50

100

150

200

FY10 FY11 FY12 FY13 FY14 FY15 FY16

Revenue (S$ Million)

-8.2%

16.8% 16.1%

13.3%

15.1% 14.7%

10.3%

7.7%

0.0%

5.0%

10.0%

15.0%

20.0%

0

5

10

15

20

25

FY10 FY11 FY12 FY13 FY14 FY15 FY16

EBITDA (S$ Million) Margin (%)

Singapore 41%

China 29%

Hong Kong 20%

SEA* 5%

Taiwan 5%

FOOD ATRIUM DIVISION

11

NUMBER OF FOOD ATRIUM OUTLETS FY 2016 OUTLET DISTRIBUTION BY GEOGRAPHY

SEA: Malaysia & Thailand

19

65

57

0

20

40

60

80

FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16

Number of outlets

China 29

Singapore 15

Hong Kong 5

Taiwan 3

SEA* 5

RESTAURANT DIVISION

12

REVENUE FY 2016 REVENUE BY GEOGRAPHY

EBITDA

0

25

50

75

100

125

150

175

FY10 FY11 FY12 FY13 FY14 FY15 FY16

Revenue (S$ Million)

+4.9%

Singapore 93%

Thailand 7%

10.1% 10.6%

13.5% 14.2%

16.1%

23.7%

20.3%

9.0%

14.0%

19.0%

24.0%

29.0%

2

7

12

17

22

27

32

37

FY10 FY11 FY12 FY13 FY14 FY15 FY16

EBITDA (S$ Million) Margin (%)

RESTAURANT DIVISION

13

NUMBER OF RESTAURANT OUTLETS FY 2016 OUTLET DISTRIBUTION BY GEOGRAPHY

5

30

32

0

10

20

30

40

50

FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16

Number of outlets

Singapore 29

Thailand 3

CONTACT US

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Mr. Chan Ying Jian Group Chief Financial Officer

Ms. Agnes Kang Investor Relations

Tel - (65) 6285 6116

Email - ir@breadtalk.com