Minor International : MINT COMPLETED THAILAND'S FIRST SUSTAINABILITY-LINKED SYNDICATED LOAN IN TOURISM AND LEISURE SECTOR

PRESS RELEASE - 19 September 2023

FOR IMMEDIATE RELEASE

MINT COMPLETED THAILAND'S FIRST SUSTAINABILITY-LINKED SYNDICATED LOAN

IN TOURISM AND LEISURE SECTOR

Minor International Public Company Limited ("MINT") is pleased to announce a remarkable milestone with the completion of EUR 500 million Syndicated Sustainability-Linked Loan (SLL) refinancing, setting a precedent as the first loan of its kind within Thailand's tourism and leisure sector. This SLL will be used to refinance existing syndicated facilities and support the Group's growth across the region. The transaction has attracted strong interest from 19 prominent banks, ultimately generating strong demand that approached the one billion EUR mark, more than double the intended target. The syndication demonstrates the market's trust in MINT's prospects, allowing the company to secure long-term liquidity while also optimizing its average cost of debt.

As a global leader in the hospitality sector, MINT's commitment to Environmental, Social, and Governance (ESG) principles lies at the core of operations. Accordingly, this Sustainability-Linked Loan (SLL) was designed to directly linked MINT's Key Performance Indicators (KPIs) on sustainability. MINT has committed to enhancing the environmental performance of its Minor hotels by reducing both scope 1 and scope 2 greenhouse gas (GHG) emissions intensity, as well as water withdrawal intensity.

Standard Chartered Bank (Singapore) Limited and Sumitomo Mitsui Banking Corporation Singapore Branch acted as the Mandated Lead Arrangers and Sustainability Coordinators. The SLL was facilitated by a consortium of 19 leading banks, including 14 that had participated in previous facilities. Additionally, five new banks joined the consortium, all expressing strong confidence in MINT's prospective business growth.

"We take immense pride in the launch of this Sustainability-Linked Loan (SLL). Our unwavering commitment to sustainability and responsible practices is not just a corporate responsibility; it's a moral obligation," said Mr. Dillip Rajakarier, Group CEO of MINT and CEO of Minor Hotels. "This SLL serves as a reaffirmation of our dedication to make positive changes, not only within our operations, but hopefully throughout the entire industry."

Mr. Chaiyapat Paitoon, CFO of MINT, remarked, "Our focus extends beyond financial responsibility; we embrace sustainability and responsible financial practices, aligning our efforts with ESG principles. We are pleased to receive the warm recognition from financial institutions for MINT's sustainability initiatives. We are all working together toward our ultimate goal of making a meaningful difference."

Ms. Chompan Kulnides, Chief Sustainability Officer of MINT, added: "At Minor International, we prioritize the creation of shared value to benefit everyone through our sustainability efforts. Our commitment is evident through our consistent inclusion in the Dow Jones Sustainability Emerging Markets Index for the 9th consecutive year, the FTSE4Good Index Series for the 7th consecutive year, and our impressive MSCI ESG Rating of AA. We take pride in our track record and will continue to work diligently to uphold our high standards."

Mr. Plakorn Wanglee, Chief Executive Officer, Thailand at Standard Chartered Bank said: "Standard Chartered is delighted to have partnered with Minor International on its inaugural SLL, an important benchmark for the tourism and leisure sector in the region and for sustainable financing in Thailand. Minor has set out ambitious and comprehensive targets covering their environmental impact of their operations, and we are confident that this will set the tone for more local corporates and institutions to look towards sustainable financing as a key enabler in their Net Zero journey."

Mr. Yuichi Nishimura, Co-Head of the Asia Pacific Division at Sumitomo Mitsui Banking Corporation, said: "SMBC proudly stands beside Minor International in its sustainability journey, as it continues to exemplify remarkable leadership in the tourism and leisure industry. Our partnership in this inaugural SLL isn't just a transaction; rather, it is a symbol of our shared vision and commitment to building a sustainable future for the generations to generations to come. As we celebrate this success, we look forward to continuing to work closely with our partners to achieve their ESG goals and create positive impact for the organization, society, and our planet."

About Minor International: Minor International (MINT) is a global company focused on three core businesses: hospitality, restaurants and lifestyle brands distribution. MINT is a hotel owner, operator and investor with a portfolio of over 530 hotels under the Anantara, Avani, Oaks, Tivoli, NH Collection, NH, nhow, Elewana, Marriott, Four Seasons, St. Regis and Radisson Blu brands in 55 countries across Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe, South and North America. MINT is also one of Asia's largest restaurant companies with over 2,500 outlets system-wide in 23 countries under The Pizza Company, The Coffee Club, Riverside, Benihana, Thai Express, Bonchon, Swensen's, Sizzler, Dairy Queen, Burger King, Coffee Journey and GAGA brands, in addition to over 1,000 outlets of MINT's strategic alliances (i.e. S&P and BreadTalk). MINT is one of Thailand's largest distributors of lifestyle brands and contract manufacturers. Its brands include Anello, BergHOFF, Bossini, Charles & Keith, Joseph Joseph, Zwilling J.A. Henckels and Minor Smart Kids. For more information, please visit www.minor.com.

Press Contacts: Chaiyapat Paitoon/ Ririnda Tangtatswas/ Namida Artispong at Tel: [phone]