Quarterly Meeting# 4/2016

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Mary Stokes
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1 Quarterly Meeting# 4/2016 3Q16 & 9M16 Performance & Outlook 16 November 2016

2 The views expressed here contain some information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. Any forward looking information in this presentation has been prepared on the basis of a number of assumptions which may prove to be incorrect. This presentation should not be relied upon as a recommendation or forecast by The Erawan Group PLC. Nothing in this release should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction ERAWAN. All rights reserved.

Executive Summary International tourist arrivals grew in all key source markets with another record high in 3Q16. Thai tourism continues with strong growth momentum at 13% in 3Q16 and 12% in 9M16.

3 Executive Summary International tourist arrivals grew in all key source markets with another record high in 3Q16. Thai tourism continues with strong growth momentum at 13% in 3Q16 and 12% in 9M16. Profitability continues with 3Q16 turnaround from Loss at 20 MB in 3Q15 to Net Profit at 56 MB Our hotel development progressed as planned, +1 HOP INN Chiang Mai resulting to 20 HOP INN or 38 hotels (6,059 rooms) at the end of 3Q ERAWAN. All rights reserved.

5 International Tourist Arrivals YTD millions, +12% y-y Millions % +16% +15% +10% +8% +7% +11% +11% +18% 2013 YTD M 2014 YTD M 2015 YTD M 2016 YTD M YoY % 20% 15% 10% 5% 0% -5% -10% -15% 0.0 Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec -20% Source : Department of Tourism as of Sep-16 (Prelim) ERAWAN. All rights reserved.

7 Tourist Arrivals by Source Markets Oceania South 3% Asia The 5% Americas 4% Europe 18% Middle East 2% Africa 0% Continent East Asia 68% 8M16 YoY East Asia 13% Europe 10% The Americas 13% South Asia 10% Oceania 1% Middle East 12% Africa 7% Total 12% 8M16 Contribution Source : Department of Tourism as of Aug ERAWAN. All rights reserved.

8 Tourist Arrivals by Key Source Markets 8M15 Weight 8M16 Weight YTD-16 Y-Y 8M16 3Y/CAGR China 28% 30% 19% 57% Malaysia 11% 10% 2% 24% South Korea 4% 4% 12% 17% Japan 5% 4% 4% 9% Laos 4% 4% 19% 16% India 3% 4% 14% 16% Russia 3% 3% 20% 22% United Kingdom 3% 3% 8% 6% Singapore 3% 3% 3% 14% United States 3% 3% 14% 14% Other 33% 32% 9% 7% Grand Total 100% 100% 12% 14% Source : Department of Tourism as of Aug ERAWAN. All rights reserved.

10 Statistic Summary 3Q16 & 9M16 (YoY) Segment 3Q16 9M16 OCC RevPAR OCC RevPAR Luxury 10% 14% 4% 8% Midscale 8% 14% 5% 8% Economy 11% 3% 9% 1% Budget 17% 28% 17% 35% Total Group 10% 2% 7% 2% Total Group excl. Budget 10% 12% 7% 6% ERAWAN. All rights reserved.

11 Core Performance Summary Turnaround from Net Loss to Net Profit in 3Q16 Group Operating Income 13% YoY 7% YoY 1,099 1,008 1,216 1,375 3,869 4,147 3Q13 3Q14 3Q15 3Q16 9M15 9M16 EBITDA 37% YoY 16% YoY ,079 1,252 3Q13 3Q14 3Q15 3Q16 9M15 9M16 Normalized Net Profit 178% YoY (6) (83) (20) Q13 3Q14 3Q15 3Q16 (Unit in MB, unless otherwise indicated) 9M15 9M ERAWAN. All rights reserved.

12 Hotel Revenue Total Group 3Q16 9M16 13% 7% Luxury Segment 11% 4% Midscale Segment 14% 9% 3Q13 3Q14 3Q15 3Q16 9M15 9M16 3Q13 3Q14 3Q15 3Q16 9M15 9M16 Economy Segment 7% Budget Segment 6% 140% 138% 3Q13 3Q14 3Q15 3Q16 9M15 9M16 3Q13 3Q14 3Q15 3Q16 9M15 9M ERAWAN. All rights reserved.

13 Room Revenue by Country of Residence 3Q16 9M16 Contribution Y-Y Contribution Y-Y 1. China 15% 22% 15% 24% 2. Thailand 16% 26% 15% 10% 3. United States 9% 4% 10% 6% 4. Singapore 6% 9% 6% 7% 5. Hong Kong 6% 17% 5% 1% 6. India 5% 13% 5% 3% 7. South Korea 4% 6% 3% 16% 8. United Kingdom 3% 21% 3% 7% 9. Germany 2% 2% 3% 4% 10. Australia 3% 10% 3% 16% Other 32% 13% 31% 11% Total Group 15% 10% ERAWAN. All rights reserved.

14 Consolidate Profit & Loss Statement In Baht Millions 3Q15 3Q16 %Y-Y 9M15 9M16 %Y-Y Hotel Income 1,165 1,321 13% 3,717 3,989 7% Rental and Service Income % % Total Operating Income 1,216 1,375 13% 3,869 4,147 7% Other Income % % Total Income 1,222 1,382 13% 3,895 4,177 7% Operating Expenses (927) (977) 5% (2,816) (2,925) 4% EBITDA % 1,079 1,252 16% Share of Profit /(Loss)in ERWPF 5 (4) 17 9 ERWPF Rental Payment (28) (28) (84) (84) Depreciation (181) (185) (537) (545) Interest Expenses (96) (89) (292) (271) Taxes (13) (30) (66) (90) Minority Interest (2) (13) (23) (26) Normalized Net Profit/(Loss) (20) 56 N/A % Non Recurring Items - 19 Net Profit/(Loss) (20) 56 N/A % EBITDA Margin (%) 24% 29% 28% 30% ERAWAN. All rights reserved.

16 Summary of Financial Position Baht Million 16,000 Total Assets Total Liabilities & Equity ST Loan 12,000 LT Loan 8,000 Other Liabilities 4,000 Equity 0 FY2014 FY2015 3Q16 FY2014 FY2015 3Q ERAWAN. All rights reserved.

18 International Tourist Arrivals 35 Proven Resilience to Challenges Million 8% F TSUNAMI Coup Protest Protest Protest Protest Protest Source : Department of Tourism as of Oct ERAWAN. All rights reserved.

Hotel Growth Strategy HOP INN #16 Roiet 79

Chanthaburi 75 rooms HOP INN #19 Sakonnakhon 75

#21 Hatyai 79 rooms Opened in Jan 16 Opened in

in Aug16 Opened in Oct 16 HOP INN #22 Phuket 79

HOP INN Philippines 168 rooms Target Opening :

19 Hotel Growth Strategy HOP INN #16 Roiet 79 rooms HOP INN #17 Chumphon 79 rooms HOP INN #18 Chanthaburi 75 rooms HOP INN #19 Sakonnakhon 75 rooms HOP INN #20 Chiangmai 75 rooms HOP INN #21 Hatyai 79 rooms Opened in Jan 16 Opened in Mar 16 Opened in Apr16 Opened in Jun16 Opened in Aug16 Opened in Oct 16 HOP INN #22 Phuket 79 rooms Target Opening : 4Q16 Ahead of Schedule 1 HOP INN Philippines 168 rooms Target Opening : 4Q16 On Schedule ERAWAN. All rights reserved.

20 Northern (2 hotels) Lampang Chiang Mai Central (1 hotel) Phitsanulok Western (2 hotels) Tak - Mae Sod Kanchanaburi South (7 hotels) Chumphon Krabi Nakhon Si Thammarat Surat Thani Trang Hat Yai (open in Oct 16) Phuket (open in Dec 16) Eastern (2 hotels) Chantaburi Sa Kaeo Northeastern (8 hotels) Khon Kaen Mukdahan Nakhon Ratchasima Nong Khai Roi Et Sakon Nakorn Ubon Ratchathani Udon Thani 7 Hotels to open in HOP INN Thailand By ERAWAN. All rights reserved.

22 1 st HOP INN Philippines Ermita Description One of district in Manila, the capital city of Philippines The major commercial, financial, and cultural center of the city. Home to famous landmarks, government offices, tourist attractions, museums, and universities. Several government institutions such as Supreme Court of the Philippines and Manila City Hall ERAWAN. All rights reserved.

24 Appendix 3Q16 & 9M16 Review

25 Operating Income by Segment 3Q16 9M16 Contribution Y-Y Contribution Y-Y Luxury 52% 11% Midscale 24% 14% Economy 16% 7% Budget 4% 140% Rental 4% 5% Total Group 13% 51% 4% 24% 9% 18% 6% 3% 138% 4% 5% 7% ERAWAN. All rights reserved.

26 Operating Income by Destination 3Q16 9M16 Contribution Y-Y Contribution Y-Y Bangkok 66% 11% Pattaya 16% 11% Phuket 6% 25% Other 12% 23% Total Group 13% 64% 3% 17% 8% 7% 19% 12% 22% 7% ERAWAN. All rights reserved.

27 EBITDA by Segment 3Q16 9M16 Contribution Y-Y Contribution Y-Y Luxury 47% 37% Midscale 27% 25% Economy 14% 15% Budget 5% 158% Rental 6% 9% Total Group 37% 43% 8% 28% 16% 19% 11% 5% 173% 5% 6% 16% Note : For illustration purpose only EBITDA by Segment is calculated without taking non-property-specific expenses into account. The Naka Island are excluded due to negative EBITDA ERAWAN. All rights reserved.

28 EBITDA by Destination 3Q16 9M16 Contribution Y-Y Contribution Y-Y Bangkok 68% 32% Pattaya 19% 13% Phuket 1% N.M. Other 12% 40% Total Group 37% 64% 9% 20% 12% 3% 86% 12% 37% 16% Note : For illustration purpose only. EBITDA by Destination is calculated without taking non-property-specific expenses into account. The Naka Island are excluded due to negative EBITDA ERAWAN. All rights reserved.

Quarterly Meeting # 2/2015

Quarterly Meeting # 2/2015 1Q15 Performance & Outlook 18 May 2015 The views expressed here contain some information derived from publicly available sources that have not been independently verified. No