Annual Results 52 weeks ended 30 June 2018

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2 Contents 2 Headlines CEO Review FY18 Review FY19 Outlook Summary

3 Headlines 3 First half finished strongly due to Christmas trading 18 consecutive quarters of like-for-like sales growth came to an end in the second half of the year Severe weather conditions and World Cup resulted in 3.2% sales decline in second half Revolución de Cuba continued to achieve good growth though also impacted by weather 6 new openings in FY18 which are performing well Well documented sector headwinds have impacted EBITDA margin Growth from successful openings subsumed by profit reduction in like-for-like estate Adjusted EBITDA in line with revised guidance 2 new openings already in FY19, 3 more openings imminent and strong pipeline H2 sales trends continued into FY19 but September showed some improvement as new initiatives take hold L4L venue Christmas pre-bookings to date +14% suggesting Q2 will be much stronger (Total estate +20%)

4 Initial impressions, strategy update and current focuses CEO Rob Pitcher

5 Why join Revolution From the outside looking in Revolution Bars Group PLC 5

6 Why join Revolution From the outside looking in 6 Two distinct bar brands operating in a premium marketplace Perfectly positioned for growth Financially well structured A young professional and largely female customer base Passionate team and strong culture History of like-for-like sales growth

7 Why join Revolution From the inside 7 Two distinct bar brands operating in a premium marketplace Revolución de Cuba Well defined customer proposition High barriers to entry with no direct branded competition Net average weekly sales > 50,000 Perfectly positioned for growth Potential to double the estate size Revolution Customer proposition in need of invigoration Atmosphere no longer cutting edge and food improvement required Net average weekly sales > 35,000 Six sites added last year. Impressive and delivering good returns Rooftop bars and retractable roofs add to the experience Financially well structured Strong cash generation and only 11m of net debt Returns from new openings are +28%* Robust cost controls in key areas * Return calculated based on post IPO sites operating for more than 12 months

8 Why join Revolution From the inside 8 A young professional and largely female customer base Revolution = 59% female and Revolución de Cuba = 58% female Cocktails > 30% of drink sales mix and high margin Prosecco > 50% of wine category Passionate team and strong culture Vision and Values embedded in the businesses across 3,000 strong team Engagement took a temporary dip Current finalist in the UK Customer Experience Awards for best employee engagement History of like-for-like sales growth Delivered 18 quarters of like-for-like sales growth but then Perfect storm of external factors extreme weather, England (and Sports bars) almost hit the World Cup jackpot, Matthew Clark disruption, and unsettling corporate activity A lack of focus on the customer and innovation

9 100 days of Revolution Issues facing Revolution 9 Substantial period of change Corporate activity unsettled and destabilised the business 50% of the Executive team changed Management distraction = reduced customer focus and engagement dropped across the business Revolution customer proposition Lack of focus and innovation over the past 18 months Food offer has dragged market trends Reduced customer perception of our value proposition Keeping pace with digital trends Social and digital marketing behind the curve Delivery opportunity nascent Customers unable to book on line

10 100 days of Revolution What makes Revolution a compelling proposition? 10 People New Executive team empowered by the board to deliver turnaround Attracting new talent and new thinking Re-engaging 3,000 strong passionate team Locations Large imposing buildings in affluent towns and cities Ability to host customers all evening to drive average spend Scope to almost double the estate size Financials Generating strong cash flow Returns from new sites running at +28% * Relatively low levels of debt Premium offering Scope to vastly improve the food offering Two thirds of drink sales from cocktails and spirits Safe night out for our predominantly female customer base * Return calculated based on post IPO sites operating for more than 12 months Opportunity for turnaround Nothing fundamentally wrong with the business Renewed management energy and focus First wave of activity is currently landing in the business Christmas is coming Tough start but 44% of annual profits come from Q2 and 41% from H2 L4L Christmas bookings tracking +14% on last year Unconfirmed Christmas bookings are up on last year

11 100 days of Revolution Strategy Update 11 Our three strategic pillars remain key to growing our business Building Customer Loyalty Profit Improvement Estate Expansion Delivering amazing customer experiences every time Digital customer journey Distinctive brand propositions Memorable experiences Driving continued profit improvement from existing sites Sales generation Pre-booked sales Cost management Expanding the estate into new profitable locations Grow both brands Create memorable spaces Iconic locations

12 100 days of Revolution Current Priorities 12 Digital customer journey Social Chain a shift to social Building Customer Loyalty Delivering amazing customer experiences every time Seamless digital journey online booking engine Easy to do business with Deliveroo and click & collect Customer proposition Reputation.com online reputation management Competitive Socialising cocktail masterclass development Revolution Brand Proposition working with external consultants Brand Standards Ops team delivery

13 100 days of Revolution Current Priorities 13 Sales generation Profit Improvement Driving profit improvement from existing sites New Revolution food menu delivering on current food trends Creating new trading timeslots launch of weekend brunch in Revolution Peak time perfect unrivalled entertainment on Friday and Saturday nights Cost management Margin optimisation review current pricing structures to deliver value Labour deployment time and attendance to mitigate National Living Wage Waste reduction energy consumption reduction plan Organisational changes Operational delivery new Exec team and structure Better management information new accounting system

14 100 days of Revolution Current Priorities 14 New team in place New group property director New acquisitions manager Estate Expansion Expanding the estate into new profitable locations Estate Six new openings in FY18 three of each brand Front loaded openings plan in FY19 two already opened and three more before the important Christmas period Strong pipeline new team bringing new exciting sites. Softer market = more choice Small increase in refurbishment capital to aid turnaround in core estate

15 100 days of Revolution Future Focus 15 Our three strategic pillars remain key to growing our business Building Customer Loyalty Profit Improvement Estate Expansion Ensuring all visits to our venues are an excellent experience Leverage loyalty card data Premium brand partnerships Improved competitive socialising offering Driving continued profit improvement from existing sites To app or not to app Next generation of prebooked sales Unrivalled atmosphere creation Expanding the estate into new profitable locations 100 Revolutions 50 Revolución de Cubas Creation / addition of a third premium brand 5/6 year investment cycle

16 Summary 16 A year of contrasting fortunes Good L4L sales in H1 at 1.9%, aided by a record Christmas 18 consecutive quarters of like-for-like sales growth came to an end in the second half of the year with -3.2% sales decline Overall sales up 8.7%, driven by our strong site expansion with 6 new openings in FY18 delivering good returns Adjusted EBITDA in line with revised guidance Strong balance sheet and low debt Existing strategy holds Lots of initiatives to improve the performance of the business Revolución de Cuba high average weekly sales, high barriers to entry, no direct branded competition and a unique offering Strong openings pipeline 2 already open, 3 more before Christmas L4L venue Christmas pre-bookings to date +14% suggesting Q2 will be much stronger (Total estate +20%)

17 FY18 Review CFO Mike Foster

18 Headlines A year of two halves 18 First half finished strongly due to Christmas 4 weeks between 4 December 2017 to 31 December 2017 saw +5.9% like-for-like sales growth helped by increase in pre-bookings and a sharper focus on corporate activity 18 consecutive quarters of like-for-like sales growth came to an end in the second half of the year Severe weather conditions main factors behind 3.2% sales decline in second half to give full year decline of - 0.6% Sales loss from weather events equivalent to 1.0% on the annual like-for-like sales percentage Heavy snow in Q3 cost 0.5m sales Heatwave through May/June cost 0.7m. Revolution sites with no outdoor areas particularly challenged Revolución de Cuba continued in strong growth though also impacted by weather conditions 6 new openings in FY18 with another 2 already open in FY19, further 3 imminent and a strong pipeline LFL Sales YoY % FY18 W1 W % +0.6% +6.5% W28 W52 (3.2)% (5.0)% +3.8% FY18 (0.6)% (2.1)% +5.2% Note - H1 includes week 27 in order to include NYE in both years

19 FY18 Review Adjusted EBITDA broadly in line with prior year 19 Summary Income Statement FY18 m FY17 Restated* m YoY Sales % Gross profit % Gross profit % 76.3% 76.2% 0.1%pt Adjusted EBITDA (0.7%) Adjusted EBITDA % 10.6% 11.6% (1.0%pt) Adjusted PBT (14.9%) Adjusted PBT % 5.6% 7.2% (1.6%pt) Adjusted EPS 13.0p 14.6p (1.6p) Dividend per share 4.95p 4.95p - % Sales +8.7% due to new sites Gross margin improved by +0.1%pts from improved buying and high margin drinks from premiumisation. Adjusted EBITDA just below LY as growth from new sites mitigates decline in LFL (see bridge below) LFL Estate sales at (0.6%) decline YoY resulted in (0.9)m decrease in EBITDA Annualisation of FY17 openings and part year FY18 openings contributed 1.3m EBITDA Central Support costs increased by 0.5m consistent with scaling up of business Adjusted PBT lower due to depreciation from estate expansion and accelerated rates ( 1.1m) and interest charges ( 0.3m) Adjusted EBITDA Bridge ( m) (0.5) (0.9) * Restated adjusted for prior period adjustments as set out in the Annual Report FY17 LFL Estate 62 Sites FY17 Openings 6 Sites FY18 Openings 6 Sites Central Support FY18

20 FY18 Review Cost base faced significant sector headwinds 20 Trading P&L FY18 m FY18 % of Sales % FY17 Restated* m Sales FY17 % of Sales % Gross profit % % Venue payroll (36.6) 25.8% (32.6) 25.0% Other site costs (31.9) 22.5% (29.8) 22.8% Venue rates (6.2) 4.4% (5.1) 3.9% Venue EBITDAR % % Venue rent (10.9) 7.7% (9.7) 7.4% Venue EBITDA % % Support Centre costs (7.6) 5.4% (7.1) 5.4% Adjusted EBITDA % % Payroll absorbed NMW increases of c. 4%, apprenticeship levy 0.5%, pension increase 1.0% from April 18 Other site costs reduced in real terms due to savings in Marketing, Energy and Insurance Rates have increased in real terms by c. 18% due to 2017 revaluation Central costs are at 5.4% of sales in line with prior year Adjusted EBITDA at 10.6% of sales, down from 11.6% * Restated adjusted for prior period adjustments as set out in the Annual Report

21 FY18 Review Reduction in EBITDA margin due to LFL sales decline and increasing cost environment 21 Adjusted EBITDA by segment Number of Venues FY18 m FY17 Restated * m YoY m LFL 0.9m behind prior year 0.5m due to 0.6% reduction in LFL sales Small improvement in margin from new buying contracts Venues at IPO (1.2) Openings in FY Other non LFL venue 1 (0.2) (0.3) 0.1 'Like for Like' Estate EBITDA (0.9) FY17 openings (prior period) FY18 openings (current period) Venue EBITDA Support Centre costs (7.6) (7.1) (0.5) Adjusted EBITDA (0.1) Payroll increase of 0.5m but mitigating actions (including S4 labour scheduling) saved 0.8m relative to imposed statutory increases Significantly higher overheads on rent and rates 1m savings in other costs from marketing efficiencies ( 0.7m), insurance ( 0.2m) and Energy initiatives LFL Adjusted EBITDA Bridge ( m) +1.0 Adjusted EBITDA % of Sales 10.6% 11.6% (1.0%pt) 21.4 (0.5) +0.1 (0.4) (0.5) (0.6) 20.5 * Restated adjusted for prior period adjustments as set out in the Annual Report FY17 Sales GP% Staff Costs Other Costs Rent Rates FY18

22 FY18 Review Cash generative business with well invested estate 22 Summary Cash Flow Cash flow FY18 FY17 Restated Adjusted EBITDA Exceptionals items - cash (3.3) (0.4) Working capital movement 1.1 (2.5) Capex - maintenance & refurbishment (4.5) (4.2) Cash generated - existing business Capex - expansion (11.8) (10.0) Tax (0.6) (1.1) Financing - dividends & interest (3.0) (2.7) Net cash flow (7.1) (5.8) Loan draw down Net cash movement * Restated adjusted for prior period adjustments as set out in the Annual Report Cash generative business Cash Exceptional items relate primarily to M&A activity and senior management changes (see appendix 2) 4.5m maintenance and refurbishment capex in the period well invested estate Expansion capex includes bar opening costs and FY19 openings FY18 FY17 New Sites FY New Sites FY New Sites FY Bar opening costs Capex - expansion m dividend payment as FY17 Net debt increased to 11.5m part funding expansion programme but still lowly geared FY18 FY17 RCF Facility (15.5) (7.5) Cash & equivalents ** Net debt c/f (11.5) (4.4) ** Credit card outstanding amounts now classified in debtors rather than cash & equivalents

23 FY18 Review 6 sites opened in FY18 trading strongly 23 Revolución de Cuba Belfast Opened July 2017 Revolution Solihull Opened December 2017 Revolution Putney Opened December 2017 Revolution Inverness Opened December 2017 Revolución de Cuba Birmingham Opened end March 2018 Revolución de Cuba Newcastle Opened end June 2018

24 FY18 Review Investment returns on new sites 24 Investment returns on new sites FY16 FY17 FY18 H1 Number of openings Average months traded Capital invested m Returns from new sites generally improve progressively over first 24 months FY17 includes one site that is taking longer to establish. Return on investment on five sites is 22.1% FY18 venue EBITDA has been annualised Venue EBITDA generated (last 12 months) Returns on capital invested m % 34.7% 17.1% 26.3% Too early to assess the two openings in FY18 H2 (Birmingham de Cuba and Newcastle de Cuba but initial trading has been encouraging)

25 FY19 Outlook

26 FY19 Outlook Current trading continues to be challenging but Christmas projections looking strong 26 LFL sales FY19 W1 W12 YoY% FY19 W1 W12 (5.0)% (6.5)% (0.3)% Tough trading conditions from FY18 H2 continued into FY19 H1 with hot weather and the latter stages of the FIFA World Cup New food and drink menus have been launched in September 2018 Some trading improvements since end of August but patchy and linked to pay days. Customers overspent in pubs during hot summer and England s extended World Cup. Taking time to rebalance Christmas is the most important trading period with c.44% annual profit generated in Q2 LFL Pre-booked revenue for Christmas is +14% ahead of the same time last year Unconfirmed bookings are +33% higher than at same time last year Early focus and investment in the corporate sales team driving the increase

27 FY19 Outlook 2 sites opened in FY19 with 3 more by mid- November 27 Revolution Glasgow Mitchell Street Opened end August 2018 Revolución de Cuba Southampton Opened September 2018 Revolución de Cuba Bristol To open in October 2018 Revolución de Cuba Huddersfield To open in November 2018 Revolution Durham To open in November 2018 H2 Openings Further openings to be confirmed with extensive pipeline in place

28 Summary 28 Macro Challenging trading backdrop, cost headwinds remain, Brexit and consumer confidence a concern Initiatives New menus & entertainment proposition Two premium brands with strong rollout plan Six openings planned this year with healthy pipeline Revolución De Cuba growing strongly Well defined proposition, no natural branded competition & high barriers to entry with average weekly sales over 50,000 per week Passionate team Highly engaged team at all levels and new talent being injected Increased focus on digital Innovation Online table bookings, new social agency and untapped delivery opportunity Christmas Pre-booked Sales Currently tracking 14% up L4L vs this time last year and +20% total estate on top of a record Christmas last year

29 Appendices 29

30 Appendix 1 Adjusted EBITDA to PBT 30 Reconciliation of Adjusted EBITDA to PBT FY18 m FY17 Restated* m Adjusted EBITDA Depreciation (6.5) (5.4) Exceptional items (11.1) (2.3) Bar opening costs (2.0) (1.4) Exceptional items - see appendix 2 Bar opening costs relate to costs incurred getting new sites fully operational Credit / (charge) arising from LTIP 1.6 (0.5) Operating (loss) / profit (3.0) 5.5 Finance expense (0.6) (0.3) (Loss) / Profit before taxation (3.6) 5.2 * Restated adjusted for prior period adjustments as set out in the Annual Report

31 Appendix 2 Exceptional Charges 31 Exceptional Items FY18 and FY17 FY18 m FY17 m Fees relating to M&A activity Costs related to changes in executive team Fees incurred in relation to accounting misstatements Legal, corporate advisory, virtual data room and registrar fees Changes in executive team primarily relates to CEO and COO, including recruitment fees for new CEO Exceptional Items - Cash Impairment of property, plant and equipment Charges relating to current year impairment tests Onerous lease charges Exceptional Items - Total Onerous lease provision relating to small number of bars where contribution is unlikely to exceed rent. No current plans to close any bars * Restated adjusted for prior period adjustments as set out in the Annual Report