EIH Ltd — Investor Presentation 2021

Feb 2, 2021

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CIN:L55101WB1949PLC017981

CORPORATE OFFICE: 7 SHAM NATH MARG, DELHI -110054, INDIA / TELEPHONE: +91-11-23890505/ WEBSITE: WWW.EIHLTD.COM

2[nd] February 2021

The National Stock Exchange of India Limited Exchange Plaza, 5thFloor Plot No..C/1, G Block Bandra Kurla Complex Bandra(E) Mumbai – 400 051. Code: EIHOTEL	BSE Limited Corporate Relationship Dept. 1stFloor,New Trading Ring Rotunda Building Phiroze Jeejeebhoy Towers Dalal Street,Fort Mumbai-400001 Code:500840	The Calcutta Stock Exchange Limited 7,Lyons Range Kolkata-700001 Code:05

SUB: SUBMISSION OF PRESENTATION TO INVESTOR / ANALYSTS

Dear Sir / Madam,

Pursuant to Regulation 30(6) of SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015 (Listing Regulations), please find enclosed the copy of the presentation to be circulated to Investor / Analysts in respect of the Financial Results (Standalone and Consolidated) of the Company for the Unaudited Financial Results for the third quarter and nine months ended 31[st] December 2020.

Kindly take the above in your records and host in your website.

Thanking you,

Yours faithfully

For EIH Limited

SRIDHAR S Digitally signed by SRIDHAR S NATESAN NATESAN Date: 2021.02.02 10:23:07 +05'30' S.N. Sridhar Company Secretary

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Investors’ Conference Call Quarter ended December 2020 | FY21

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Industry Outlook

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Public Use Impact of the global pandemic on travel industry

INDIA | Google travel search trends | 2020 vs 2019

Key Takeaways

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Culture & Urban are second and third best performing segments in the recovery phase, where Oberoi & Trident brands operate

While April 2020 to July 2020 were severely hit, google searches represent that market is in recovery phase

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Public Use The global pandemic has had an affect on all segments of the travel industry

ASIA PACIFIC | Flights, Hotel Occupancy, Hotel Prices and Mobility Analysis

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Key Takeaways

Air and Hotel bookings have slightly recovered from the initial shock, stabilizing around a slight upward trend

Hotel occupancy has not been hit as strong as airline bookings, suggesting substitution of air travel for other methods of transportation

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Our Outlook Endure Revitalize Flourish

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ENDURE

Brand Strength | Irresistible Offerings | Strong Alliances

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BRAND OBEROI

Oberoi Hotels & Resorts

Brand Essence

The guest is everything. Brand Personality

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Confident, Endearing, Caring, Passionate, Genuine, Kind. Brand Promise To care for the unique and personal needs of each guest with sincerity, intuition, generosity and respect. Brand Position

Oberoi is the incomparably guest-centric, emotionally felt hotel brand. Heart. Felt.

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Flagship guest recognition programme launched in August 2020 with a focus to recognize the brand’s most loyal clientele Distinctive construct with pillars that add value to the guest experience

• Benefits

• Surprises & Delights

• Milestone Rewards

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Blue
Introductory tier
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Gold Mid 5% of Membership

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Platinum
Top 1% of Membership
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Background algorithm based inputs to hotels ensuring flawless operations to recognize, benefit and surprise every time, based on the guest preferences, behaviour and tier

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BRAND TRIDENT

Trident Hotels

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A memorable experience: Modern amenities, exceptional locations, warm & friendly service. Everything together creates an experience larger than the sum of its parts.

Brand Personality Young, friendly, relaxed, informal, welcoming, hospitable, efficient, nimble. Core Values Dependable, Caring, Warm, Reliable, Consistent, Solid. Brand Position At Trident, you’re sure.

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Award winning loyalty program for guests at Trident Hotels rewarding guests with points for stays and hotel spends, including non-residential dining.

Subject to the member tier, benefits include, but are not limited to:

• Savings on Food & Beverage, Spa treatments, Business Center and Laundry

• • Special member-only rates

• Complementary upgrades with early check-in and late check-out facility

• Points redemption for room nights

Four Membership Tiers

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RED
Introductory tier
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SILVER
10% of Membership
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GOLD
6% of Membership
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PLATINUM
Top 2% of Membership
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66%
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of Trident Privilege members come back and stay again

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Signature curated offers:

• At city hotels: Oberoi City Breaks and Suite Experiences - Memorable 'Suite Experiences' package across all Oberoi city hotels

• Weekend offers at all Oberoi and Trident city hotels

• At leisure resorts: Unforgettable Holidays

• • At Shimla hotels: Himalayan Vacations

Irresistible Offerings

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Strong Alliances

Focus has been on aligning with relevant alliance partners.

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Alliance with American Express offering exclusive stay and dining offers for it Centurion and Platinum Charge members. Mastercard alliance for its members worldwide offering stay offers.

Alliance with Axis Bank and Citibank for high value credit card holders.

IndusInd bank alliance offers prepaid stay vouchers and ICICI offers dining vouchers to its customers. Alliance partners with Reliance Industries Limited offering stay vouchers for their Luxury Shopping Festival. Offering exclusive stay offers to BMW and YPO members.

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REVITALIZE Focus on Food & Beverage | Social Connect | Tactical Offerings

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Food & Beverage

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Revenue Mix – FY20 Revenue Mix – FY21
45.4% 40.6% 14.0% Q1 35.6% 28.2% 36.2%
46.0% 40.4% 13.6% Q2 33.9% 43.0% 23.1%
50.1% 36.9% 13.1% Q3 28.3% 55.1% 16.7%
47.5% 39.0% 13.5% Total 9M 30.6% 48.8% 20.6%
Room Revenue Food & Beverage Others
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Initiatives taken towards shift in revenue focus towards F&B segment helped resulted in share of F&B revenue to increase to

~49% in current year from ~39% in comparable period last year

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F&B Experiences

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Private Dining Experience – In-Suite

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Private Dining Experience – In-Residence

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Cross Restaurant Innovations

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Diwali Offers and Hampers

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F&B Experiences

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Sunday Brunch

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Home Delivery and Takeaway

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Christmas-New Year Festivities

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Social Connect

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FLOURISH

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Public Use The O&MO Alliance

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 The O&MO Alliance brings together two of the world’s leading luxury hotel brands.

 Leverage MO’s wider hotels and sales network in key geographies:

• After India, the US and UK are Oberoi’s largest source markets followed by major Western European economies. The alliance offers a reach to a larger network of clients in these markets through MO’s well established network.

• MO also has a very strong presence in China and East Asia which is expected to increase contribution from these growth markets.

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Access to a large audience of luxury hotel users

• through members of the Fans of M.O. guest recognition programme.

• Prominent visibility on mandarinoriental.com with 1.25 million average monthly visitors.

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Prestige by association between two of the best known globally recognized brands.

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Oberoi One members to have access to a broader portfolio of luxury hotels across the world.

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Members of Oberoi One and Mandarin Oriental’s Fans of M.O. programmes to enjoy personalized recognition and exclusive benefits when staying at the other brand’s hotels.

• C Curated, unique and exclusive experiences for loyal members of both brands through food promotions, cross exposure and training for chefs, and wellness experts.

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Public Use Collaboration Benefits

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Marketing

Exclusive benefits for Oberoi One members at MO hotels and vice versa & communicating directly with MO members

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HR

Cross company training, development, exposure opportunities & Sharing of best practices

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Sales

Leverage sales network and selling opportunities of both brands.

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Spa

Visiting spa therapists at each others hotels.

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F&B

Creation of unique experiences by hosting visiting MO chefs.

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Sustainability

Common desire to act as leaders in the global sustainability agenda.

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Public Use Financial Agility | Handling the levers of change | Q3 FY2020

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Direct impact of Covid-19 pandemic, a force Efficient Working Capital Management
majeure occurrence resulting in minimal increase in borrowing
Income from Operations
DROP IN REVENUE 266 cr (63%) Drop in Net Operational
Assets and Liabilities in 9M Reduction in Borrowings
GROWTHTOTAL 282 cr (63%) CURRENCYEXCLUDING 151 cr (33%)
Other Income 117 cr (L.Y. -20 cr)
16 cr (57%)
Drop in Variable Expenses
DROP IN EXPENDITURE 64 cr (56%)
Reduction in WACD Reduction in Interest pay out
120 cr (40%) 80 bps 6 cr (52%)
Drop in Fixed Expenses
56 cr (30%)
Frugal cost management and structural Lower Interest payout despite
changes to lead to a new normal unprecedented pressure on liquidity
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Financial Agility | Positive Performance Trajectory QoQ vs. LY

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Q1 Q2 Q3 9M FY20
Revenue Variable Fixed Revenue Variable Fixed Revenue Variable Fixed Revenue Variable Fixed
Cost Cost Cost Cost Cost Cost Cost Cost
-20%
-29% -29%
-30%
-56%
-63%
-65%
-71%
-74%
-78%
-85%
-87%
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Strong & effective cost savings measures leading to increasing fixed cost savings

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Public Use Financial Agility | Significantly enhanced operational efficiencies

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-68%
120.0 -67%
100.0
-50%
80.0
60.0 -33%
-30%
-28%
-27%
40.0
20.0
- 0%
Consumption Of Other Consumables Passage and Power & Fuel Repairs incuding Advertisement, Payroll & Related (incl.
Provisions, Wines & Travelling replacement Publicity & Other TPC)
Others Promotional
Q3 FY21 Q3 FY20 % Decrease
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Efforts towards implementing efficient cost structure through rationalization of human capital and technological advancements have resulted into substantial saving in fixed and variable expenses

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Public Use The Oberoi Centre of Excellence (TOCE) - Leading our Transformative Digital Interventions

 TOCE has led to seamless onboarding of new properties with minor incremental cost

• Technological advancements has not just resulted in substantial cost savings but also reduced the turn around time of various processes

• Few processes covered under TOCE includes :

Accounts Payable Accounts Receivable Financial Planning & Analysis Finance Close Income Audit Contract Management ERFP Process Compliance Management

Tax Compliance

Sourcing & Procurement

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Litigation Management
Project Management
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STANDALONE P&L ~~Public Use~~	QTR 3
Figures in Rs. Crores rounded to nearest first decimal	FY21 (Actual)	FY20(L.Y.)	Variance %
Revenue from Operations	155.9	422.0	(-) 63%
Other Income	11.6	27.1	(-) 57%
TOTAL REVENUE (A)	167.5	449.1	(-) 63%
Consumption	24.6	49.1	(-) 50%
Employee Benefits	81.5	115.5	(-) 29%
Power, Fuel & Light	16.7	24.7	(-) 32%
Administrative & Other Expenses	60.5	113.6	(-) 47%
TOTAL EXPENDITURE (B)	183.3	303.0	(-) 39%
EBITDA = (A) – (B)	(15.8)	146.2
Less:Depreciation & Amortization	29.7	34.1	(-) 13%
EBIT	(45.5)	112.1
Less: Finance Costs	9.6	13.2	(-) 27%
PBT	(55.1)	98.9
Less: Tax including Deferred Tax	(13.6)	23.9
PAT Public Use	(41.5)	75.0

STANDALONE P&L	9M	9M
Figures in Rs. Crores rounded to nearest first decimal	FY21 (Actual)	FY20(L.Y.)	Variance %
Revenue from Operations	244.8	999.3	(-) 76%
Other Income	30.6	67.5	(-) 55%
TOTAL REVENUE (A)	275.4	1066.8	(-) 74%
Consumption	39.9	128.1	(-) 69%
Employee Benefits	259.7	348.2	(-) 25%
Power, Fuel & Light	44.6	76.9	(-) 42%
Administrative & Other Expenses	148.5	289.1	(-) 49%
TOTAL EXPENDITURE (B)	492.7	842.3	(-) 42%
EBITDA = (A) – (B)	(217.3)	224.5
Less:Depreciation & Amortization	91.5	101.7	(-) 10%
EBIT	(308.8)	122.8
Less: Finance Costs	32.9	38.2	(-) 14%
PBEIT	(341.7)	84.6
Less: Exceptional Items - Loss	20.3	0.5
Less: Tax including Deferred Tax	(87.0)	(24.8)
PAT	(275.0)	108.9

CONSOLIDATED P&L ~~Public Use~~	QTR 3	QTR 3
Figures in Rs. Crores rounded to nearest first decimal	FY21 (Actual)	FY20(L.Y.)	Variance %
Revenue from Operations	179.2	509.5	(-) 65%
Other Income	15.6	24.6	(-) 37%
TOTAL REVENUE (A)	194.8	534.1	(-) 64%
Consumption	26.6	58.4	(-) 54%
Employee Benefits	83.1	116.6	(-) 29%
Administrative & Other Expenses	96.3	181.1	(-) 47%
TOTAL EXPENDITURE (B)	206.0	356.1	(-) 42%
EBITDA = (A) – (B)	(11.2)	178.0
Less:Depreciation & Amortization	32.8	37.0
EBIT	(44.0)	141.0
Less: Finance Costs	10.5	14.5
PBEIT	(54.5)	126.5
Share of net profit of associates and joint ventures	(12.9)	9.8
Less: Exceptional Items – Loss	0.0	0.0
Less: Tax including Deferred Tax	(11.5)	(33.7)
PAT Public Use	(55.8)	102.6

CONSOLIDATED P&L	9 M	9 M
Figures in Rs. Crores rounded to nearest first decimal	FY21 (Actual)	FY20(L.Y.)	Variance %
Revenue from Operations	280.8	1,185.8	(-) 76%
Other Income	43.4	57.7	(-) 25%
TOTAL REVENUE (A)	324.1	1,243.5	(-) 74%
Consumption	42.8	151.2	(-) 72%
Employee Benefits	265.8	352.3	(-) 25%
Administrative & Other Expenses	239.9	476.7	(-) 50%
TOTAL EXPENDITURE (B)	548.5	980.2	(-) 44%
EBITDA = (A) – (B)	(224.4)	263.3
Less:Depreciation & Amortization	101.0	110.2
EBIT	(325.4)	153.1
Less: Finance Costs	36.8	42.3
PBEIT	(362.2)	110.8
Share of net profit of associates and joint ventures	(51.9)	10.8
Less: Exceptional Items – Loss	2.5	0.5
Less: Tax including Deferred Tax	(90.0)	10.9
PAT	(326.6)	132.0

Public Use Robust Balance Sheet

CAPITAL STRUCTURE OVERVIEW DEBT OVERVIEW Equity WACD INR 2993 cr 7.86% Net Debt Debt to Equity INR 250 cr 10% Net Leverage Undrawn Facilities 0.08 x INR 482 cr

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WEIGHTED AVERAGE COST OF DEBT
December
8.66% p.a.
2019
June
8.12% p.a.
2020
December
7.86% p.a.
2020
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Rights issue in October 2020 was successful with a subscription of 1.6 times the issue size

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Public Use Geography-wise Occupancy Growth QoQ

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70%
60%
50%
40%
30%
20%
10%
0%
Delhi / NCR Karnataka West Bengal Maharashtra Rajasthan Himachal Uttar Orissa Tamil Nadu Kerala Dubai Egypt Morrocco
Pradesh Pradesh
-----International-----
Q1 Q2 Q3
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Trends: India (April 2020 to December 2020)

Hotels | Quarterly Occupancy Movement | Including Managed Properties

OCC % [FY21] OCC % [FY20]

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90%
80%
70%
60%
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50%
40%
30%
20%
10%
0%
Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3
Oberoi Leisure (Vilas) Oberoi Metro Trident City Trident Leisure Trident Metro Others Total
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Public Use Encouraging RevPAR Recovery

60%

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50%
40%
30%
20%
10%
0%
Oberoi Leisure Oberoi Metro Trident Metro Trident Leisure Trident City Others
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• Q3FY21 witnessed strong recovery in business in comparison to previous quarters with Oberoi Leisure Hotels achieving 50%+ ARR

in comparison to same quarter last year

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Public Use Oberoi Leisure | Outperforming Expectations

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70%
Q3FY20
60%
9MFY20
50% Q1FY20
40%
Q2FY20 Q3FY21
30%
9MFY21
Q2FY21
20%
10%
Q1FY21
0%
- 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000
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List of Oberoi Leisure Properties

The Oberoi Udaivilas The Oberoi, MV Vrinda The Oberoi Vanyavilas The Oberoi Rajvilas The Oberoi Cecil, Shimla Wildflower Hall, Shimla The Oberoi Amarvilas The Oberoi Sukhvilas

Several Oberoi Leisure resorts outperformed Q3 performance in FY21 surpassing the corresponding Q3 performance in FY20

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Public Use Recovery in Affiliate Companies

In INR cr

	Q3 FY21
Company	Revenue	TCI
EIH Associated Hotels Limited	37.1	0.1
Mashobra Resort Limited	15.2	6.0
Mumtaz Hotels Limited	7.1	-1.0
Mercury Car Rental Private Limited	50.0	-6.9
EIH International Limited (Consolidated)	3.6	-11.9
EIH Flight Services Limited, Mauritius	2.2	-2.5

The Company’s affiliates have displayed a recovery trend with 2 of them turning profitable in Quarter 3 of FY21

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EIH Limited | BusinessFootprint Quarter ended December 2020

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Public Use Corporate Structure

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Hotel Business
EIH Limited Non Hotel Business
Within EIH
Mumtaz Hotels Mashobra Resort EIH Associated Hotels
EIH International Ltd 13 Hotels + Luxury Cruiser
Limited Limited Limited
 The Oberoi  The Oberoi, New Delhi  Wildflower Hall, Shimla
Amarvilas  The Oberoi, Mumbai  The Oberoi Rajvilas
EIH Holdings Ltd  The Oberoi Cecil
 The Oberoi, Bangalore  Trident Chennai
 The Oberoi, Bali  The Oberoi Grand  Trident Bhubaneswar
 The Oberoi, Lombok (Managed by EIH)  The Oberoi Udaivilas (Managed by EIH)  Trident Agra
 The Oberoi, Mauritius  The Oberoi VanyavilasTrident, Nariman Point, Mumbai  Trident JaipurTrident Udaipur
 The Oberoi, Sahl Hasheesh, Egypt  Trident, Bandra Kurla, Mumbai  Trident Cochin
 The Oberoi M.V Vrinda(Luxury Cruiser)
Managed Hotels:  Maidens Hotel, Delhi (All hotels managed by EIH)
 The Oberoi, Dubai Managed by EIH :
 The Oberoi Beach Resort Al Zorah  Trident, Gurgaon
 The Oberoi Gurgaon
 The Oberoi Zahra (Nile Cruiser)  The Oberoi Sukhvilas
 The Oberoi Marrakech  Trident Hyderabad
EIH Flight Services
Other Businesses (Within EIH) Mercury Car Rentals (P) Limited
Limited, Mauritius
OFS & OAS Business EIH Printing Press Air Charter Services OFS, Mauritius Car Rental Business (Joint Venture with
Avis, Europe)
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Hospitality and Travel focused business model

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HOTELS IN INDIA

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Shimla in the Himalayas
New Chandigarh
Trident,
Gurgaon
Trident, Agr a
Trident,
Jaipur
Jaipur
Resort,
Trident, Ranthambhore
Udaipur Udaipur
Kolkata
Mumbai
Trident Trident, Trident,
, Bandra Nariman Bhubaneswar
Kurla Point
Trident,
Hyderabad 33 Hotels and Resorts
in 7 countries.
Trident,
Chennai
Trident,
Cochin Where the
Luxury Kerala
Cruiser
Guest is Everything.
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OBEROI HOTELS & RESORTS AROUND THE WORLD

The Oberoi Philae, Luxury Nile Cruiser, River Nile, Egypt The Oberoi Beach Resort, The Oberoi Zahra, Al Zohra The Oberoi, Marrakech Luxury Nile Cruiser The Oberoi, Dubai The Oberoi Beach Resort, Sahl Hasheesh, Egypt The Oberoi Madina The Oberoi Beach Resort, Bali The Oberoi Beach Resort, Lombok The Oberoi Beach Resort, Mauritius

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THANK YOU

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