Electra Private Equity : Hostmore Capital Markets Day

Capital Markets Day - 29th June 2021

Shaping a new future

Disclaimer

IMPORTANT NOTICE

This presentation has been prepared by Electra Private Equity PLC ("Electra"). The information and opinions contained in the presentation and any other material discussed verbally (collectively, the "presentation") are provided as at the date of this presentation and are subject to change without notice.

This presentation has been made to you solely for information purposes in connection with Electra's Capital Market Day and in particular the proposed demerger by Electra of the Hostmore group and the admission of the entire issued and to be issued share capital of Hostmore PLC (currently Hostmore Limited) ("Hostmore") to the Official List of the Financial Conduct Authority (the "FCA") and to trading on the main market for listed securities of the London Stock Exchange plc ("Admission"). This presentation may be amended and supplemented as Electra sees fit, may not be relied upon for the purpose of entering into any transaction and should not be construed as, nor be relied on in connection with, any offer, invitation or inducement to purchase or subscribe for, underwrite or otherwise acquire, hold or dispose of any securities of Electra or Hostmore, and shall not be regarded as a recommendation in relation to any such transaction whatsoever. This presentation is not a prospectus for the purposes of the Prospectus Regulation Rules of the FCA.

The Hostmore shares have not been and will not be registered under the U.S. Securities Act of 1933 (the "Securities Act") or the securities laws of any state of the United States and may not be offered or sold in the United States absent registration with the US Securities and Exchange Commission, except in reliance on an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Any securities referred to in this presentation have not been and will not be registered under the securities laws of any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction (together the "Restricted Jurisdiction(s)"), and, subject to certain exceptions, may not be offered or sold within any Restricted Jurisdiction. Any failure to comply with the above restrictions may constitute a violation of securities laws. This presentation does not constitute an offer of securities to the public in the United Kingdom, the United States or in any other jurisdiction.

None of Electra, Hostmore, HSBC Bank plc ("HSBC"), Numis Securities Limited ("Numis", and together with HSBC, the "Banks") or any of their respective shareholders, subsidiaries, affiliates, associates, or their respective directors, officers, partners, employees, representatives and advisers (the "Associates" and together with Electra, Hostmore and the Banks, the "Relevant Parties") makes any representation or warranty, express or implied, as to the fairness, truth, fullness, accuracy or completeness of the information contained in this presentation, or otherwise made available, nor as to the reasonableness of any assumption contained herein, and any liability therefore (including in respect of direct, indirect, consequential loss or damage) is expressly disclaimed. Nothing contained herein is, or shall be relied upon as, a promise or representation, whether as to the past or the future and no reliance, in whole or in part, should be placed on the fairness, accuracy, completeness or correctness of the information contained herein. In particular, but without limitation, no representation or warranty, express or implied, is given by them as to the achievement or reasonableness of, and no reliance should be placed on, any projections, opinions, estimates, forecasts, targets, prospects, returns or other forward-looking statements contained herein. Further, nothing in this presentation should be construed as constituting legal, business, tax, financial or other specialist advice. Neither receipt of the presentation by any person, nor any information contained in the presentation, supplied with the presentation or subsequently communicated to any person by, or on behalf of Electra, Hostmore, the Banks or any other Relevant Party constitutes or is to be taken as constituting the giving of investment advice by Electra, Hostmore , the Banks or any other Relevant Party.

HSBC, which is authorised by the Prudential Regulation Authority (the "PRA") and regulated in the UK by the FCA and the PRA, and Numis which is authorised and regulated in the UK by the FCA, are acting as financial advisers exclusively for Electra and Numis is acting exclusively as sponsor for Hostmore and in each case for no one else in connection with the demerger, Admission or any other matters described in this presentation and will not regard any other person (whether or not a recipient of this presentation) other than Electra and Hostmore as a client in connection with the demerger, Admission or any other matters described in this presentation and will not be responsible to anyone other than Electra and the Hostmore group for providing the protections afforded to their respective clients nor for providing advice to any such other person in connection with the demerger, Admission, or any other matters referred to in this presentation. Apart from the responsibilities and liabilities, if any, which may be imposed on HSBC or Numis by the Financial Services and Markets Act 2000 or the regulatory regime established thereunder, none of HSBC, Numis nor any of their respective affiliates, directors, officers or employees owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, consequential, whether in contract, in tort, in delict, under statute or otherwise) to any person who is not a client of HSBC or Numis (as applicable) for the contents of this presentation or its accuracy, completeness or verification or for any other statement made or purported to be made by it, or on its behalf, or by any other person(s) in connection with the demerger, Admission, this presentation, any statement contained herein, or otherwise.

Certain industry and market data used in this presentation has been obtained from publications and studies conducted by third parties and estimates prepared on certain assumptions. While the industry and market data from external sources is believed to be accurate and correct, none of the Relevant Parties have independently verified such data or sought to verify that the information remains accurate as of the date of this presentation and the Relevant Parties do not make any representation as to the accuracy of such information.

Certain statements made in this announcement are forward-looking statements and by their nature, all such forward-looking statements involve risk and uncertainty. Forward-looking statements include all matters that are not historical facts and often use words such as "expects", "may", "will", "could", "should", "intends", "plans", "predicts", "envisages" or "anticipates" or other words of similar meaning. These forward-looking statements are based on current beliefs and expectations based on information that is known to Electra and the Hostmore group at the date of this presentation. Actual results of the Hostmore group and/or its industry may differ from those expressed or implied in the forward-looking statements as a result of any number of known and unknown risks, uncertainties and other factors, including, but not limited to, the effects of the COVID-19 pandemic and uncertainties about its impact and duration, many of which are difficult to predict and are generally beyond the control of Electra and the Hostmore group. Persons receiving this announcement should not place undue reliance on any forward-looking statements. Unless otherwise required by applicable law or regulation, Electra, Hostmore , the Banks and every other Relevant Party disclaims any obligation or undertaking to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All information, opinions and estimates contained herein are given as of the date hereof and are subject to change without notice. None of Electra, Hostmore, the Banks or any other Relevant Party is under any obligation or gives any undertaking to provide the recipient with access to any additional information or to update the presentation or any additional information or to correct any inaccuracies in the presentation which may become apparent.

No statement in this presentation is intended as a profit forecast for any period. Certain figures contained in this presentation, including financial information, have been subject to rounding adjustments. The financial information set out in this presentation is based on certain important assumptions and adjustments and does not purport to represent what results of operations are on an audited basis or actually will be in any future periods.

None of the Relevant Parties shall have any liability whatsoever for any loss howsoever arising, directly or indirectly, arising from the use of this presentation or otherwise in connection with this presentation. No duty of care is owed to you or to any other person by the Relevant Parties in respect of this presentation.

By attending this presentation (whether in person, by telephone or other electronic means) and/or by accepting any copy of this document, you agree to be bound by the foregoing limitations and conditions and, in particular, you will be taken to have represented, warranted and undertaken that you have read and agree to comply with the contents of this notice.

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Today's presenters

Robert B Cook

Chief Executive Officer

• Joined Fridays in December 2019
• Previously CEO UK and a board member at Virgin Active
• 3 years CEO of Devere Hotels and Resorts
• 8 years CEO of Malmaison and Hotel du Vin from Jan 04 -Jan 12
• Robert is a Master Innholder, Freeman of City of London, Catey Award Winner, and in 2007 was presented an Honorary Doctorate in Business from The Robert Gordon University, for his services to hospitality

Alan Clark

Chief Financial Officer

• Joined Fridays in March 2020
• Previously CFO at D&D London
• International CFO experience gained at Sandals Resorts (Jamaica) and publicly-listed HongKong & Shanghai Hotels (Hong Kong)
• Domestic UK experience includes roles as Finance Director at Rocco Forte Hotels (4 years) and Malmaison & Hotel du Vin Hotels (4 years)

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Agenda for the day

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Introduction to Hostmore

Robert Cook

Leading branded casual dining offering with unique market position & a new, sophisticated city-based cocktail bar

Sizing the opportunity

Robert Cook

Strong supply/demand dynamic post COVID-19 with scope for selective consolidation

Brand and customer proposition

Robert Cook

Refreshed strategy towards an integrated omni-channel offering and strong ESG credentials

Operational platform

Robert Cook

Diversified and well-balanced estate portfolio across location types and regions

Break

Transforming Fridays for the future

Alan Clark

Successful cost management during the pandemic geared to future growth

Financial framework

Alan Clark

Attractive financial profile focused on cash generation and profitability

Closing remarks

Robert Cook

Q & A

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Background to Hostmore demerger

Electra

investment  Electra acquired the Fridays business in 2014, and provided investment and support for further development of the casual dining brand in the UK

in Fridays

	 Fridays' store portfolio grew by 26 stores net between 2014-2020
Transforming	 Hired new management team in 2019/2020
 Significantly improved product and relevance to today's consumer
Fridays
 Structural opportunity for acceleration post COVID-19
	 Introduced Hostmore brand in 2021, a parent company for "Fridays" and "63rd + 1st"

Background to Demerger

• Electra is in the final stage of its portfolio realisation strategy, having returned over £2 billion to shareholders since launching this strategy in October 2016
• Electra continues to target 2021 realisations for the remaining assets in portfolio
• Intention to demerge Hostmore onto the FTSE Main Market in Q3 2021
• Electra remains focused on ensuring that Hostmore has the appropriate balance sheet to maximise its future potential and value as a standalone publicly listed company and will continue to assess the optimal capital structure and potential sources of capital for the business

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