Opportunity Day“Realizing Potential”29 March 2019

D u s i t T h a n i P l c .

2

Disclaimer

The material contained in this document has been prepared by Dusit Thani Public Company Limited (“DTC”) and may contain forward lookingstatements which includes but not limited to statements regarding our intent, belief, current expectation in respect of DTC’s business, operation,market researches, results of operation and financial conditions, capital adequacy, specific provisions and risk management practices.

While due care has been used in the preparation of forward looking statements, the assumptions of the information are subject to various risk anduncertainties which the actual results may vary in a materially positive or negative manner differently from the anticipation. And no assurancethat the past performance is a reliable indication of future performance.

Therefore, the information regarding forward looking statements shall not be considered as recommendation or advice to investors or potentialinvestors in relation to hold, purchase, or sell securities. In this respect, DTC reserves the right not to be responsible and expressly disclaims allliabilities for, damages of any kind arising out of use, reference to, or reliance on any information contained herein.

Agenda

Business overview 4

2018 Recap 11

Financial performance 22

2019 Outlook & Guidance 27

3

Page

4

Business overviewOur heritage inspires our future

Dusit Thani Bangkok, Thailand

DTC at a glance

5

70 Years in hospitality business

13 Countries

269* Properties in operation9 Owned hotels

260 Management contracts & franchise

Hotel management contracts in pipeline

Years in hospitality education business

60+25

As of 31 December 2018* Dusit Thani Laguna Phuket, dusitD2 Chiang Mai and the leasehold of Dusit Thani Hua Hin are under Dusit Thani Freehold and Leasehold Real Estate Investment Trust (DREIT)of which DTC holds a 30.02% stake.

Distinguished hospitality group with Thai heritage

Key milestones

6

1948

The Princess Co., Ltd.

1949The Princess

Bangkok Hotel

1966

DTC1970

Dusit Thani Bangkok

1987

Phuket1988

Pattaya1990

HuaHin1995

Chiang Mai1996

Bangkok1997

Manila2001

Dubai

Chiang Mai

Cairo

DTCPF

Maldives ChinaAbu Dhabi

Nairobi Guam Krabi

Vimarnsuriya(Mixed-use

project, Bangkok)

Rebranding hospitality education

ColoursInternational

Divested Dusit

Princess Korat

Dusit Foods&

2016

Dusit Thani Hotel School

As of 15 March 2019

1993

Korat1975

Dusit ThaniCollege

Brand established in Thailand

Overseas asset light expansion

2007 2010

2006

2012 2013 2014 2015

ChinaKhao Yai

Dubai

2017 2018 Phu QuocDusit

Gourmet

Expand & Diversify beyond hotel

• Balancing portfolio • Strengthening

foundation ChinaKrabi

ThimphuDavao

DusitHospitality Services

2019

Offered broadened experiences for our customers

7= Future plan

Remark: * 9.24% Investment

EXPERIENCELIMITED SERVICEFULL SERVICE

Bespoke/ Luxury Midscale Economy Budget Lifestyle/

BoutiqueBranded

ResidenceShared

EconomyCruise/ Villa/ Vacation Club

*

Business structure

8

DTC

As of 25 March 2019

Hotel Education Food OthersMixed-use project

Owned Hotel Food OEM REIT

Managed Residence

Office Building

Venture Capital

Retail

Food retail• favstay

Catering Hospitality Services• Outside Catering• Housekeeping • Restaurant• Hotel pre-opening

• NRIP

• Dusit Gourmet

• Epicure

• Hotel• Villa (Elite Havens)

Strategic direction

9

With strong background in the hotel management and education business, DTC has entered a new chapter with multi-year plan under “Balance, Diversify, and Expand” strategy…

… by strengthening 5 key pillar foundations.

Balance

Expand

Diversify

50:50 domestic/overseas revenue with balance of asset light vs capital investment

10% contribution from new adjacent business

Double number of rooms in operation to 14,000 keys in 2021Non-hotel:

Long

term

targ

et

Strategic roadmap

10

•Set new strategic direction•Develop new

Vision/Mission/Values•Focus on key priorities

•New iconic flagship hotel• Integration of hospitality

and education business•Double no. of keys

worldwide

•Completion of new mixed-use project

•More revenue contribution from new investments

•Balance of revenue contribution from Thailand and overseas

11

2018 RecapFull year of activities

Dusit Thani Bangkok, Thailand

2

111

1

China

Vietnam

Thailand

Bhutan

Philippines

JapanMyanmar

Bahrain

Qatar

New hotel expansion

12

DusitD2 Ao Nang ResortKrabi, Thailand

173 rooms

Phu Quoc, Vietnam

108 roomsDusit Princess Moonrise Beach Resort

83 roomsdusitD2 Yarkay ThimphuThimphu, Bhutan

33 roomsHeritage Villas Zhouzhuang, Managed by DusitJiangsu, China

The Beach Club at Lubi Plantation Island, Managed by Dusit

Davao, Philippines

dusitD2 Society Hill, Tianjin Tianjin, China

405 rooms

With first hotels in the emerging markets of Vietnam and Bhutan

New hotels

opened

6

New projects signed

14

Broadened DTC’s lodging spectrum

13

New lifestyle hotel brand launch “ASAI” Designed to connect millennial-minded travellers - a market valued at more USD 280 bn annually – with authentic local experiences in vibrant neighbourhoods worldwide. ASAI’s flagship hotel is set to open in Bangkok, on Sathorn Soi 12, at the end of 2019.

Sri Lanka

Maldives

Koh SamuiPhuket

BaliLombok

Niseko

14

Entered the high-end vacation rental market through the full acquisition of “Elite Havens”

Established since 1998, Elite Havens has performed integrated marketing, reservations, concierge and management services for luxury villas and maintains a network of 200+ fully staffed properties across Indonesia, Thailand, Sri Lanka, Japan, and the Maldives.

villas exclusively marketed

240

Broadened DTC’s lodging spectrum (Cont’d)

2018 Hotel & Villa portfolio

15

OverseasThailand

Man

aged

Ow

ned

Bangkok (Silom)Pattya

Hua Hin**Laguna Phuket**

Chiang MaiBangkok (Srinakarin)Chiang Mai**

Krabi Pathumwan PrincessRoyal Princess Larn Luang

Khao YaiAo Nang Resort, Krabi

ManilaMaldives

Nairobi (Kenya)Kenz Dubai (UAE)

Fudu Binhu (Changzhou, China)Yarkay Thimphu (Bhutan)

Society Hill (Tianjin, China)Guam (USA)Dubai (UAE)

Lakeview Cairo (Egypt)Abu Dhabi (UAE)

Dongtai (Jiangsu, China)Fudu Qingfeng (Changzhou, China)

Conghua (Guangzhou, China)

Heritage Villas Zhouzhuang, Managed by Dusit (Jiangsu, China)

As of 31 December 2018 * Include 1,022 rooms of Elite Havens** Under Dusit Thani Freehold and Leasehold Real Estate Investment Trust (DREIT) of which DTC holds a 30.02% stake

Moonrise Beach Resort Phu Quoc (Vietnam)

Operated 269 properties with 8,172 rooms* in 13 countries at the end of 2018

The Beach Club at Lubi Plantation Island, Managed by Dusit(Davao, Vietnam)

Indonesia (149 villas)Sri Lanka (5 villas)Maldives (8 villas)Japan (17 villas)

Phuket (42 villas)Koh Samui (19 villas)

16

Expanded the first college in Sri Lanka

Unique education concept of the Dusit Hospitality Management College (DHMC)• Fully integrated hotel – college• High tech – high touch• Relevant, industry-driven learning• Job ready graduates • Expected to open as part of dusitD2

The Fort Manila hotel in August 2019

Continued development of DHMC LCBD new office

New college set with Omega Global• The Dusit Omega Centre of Excellence

in Hospitality will follow the blueprint pioneered by the DHMC in Manila to offer a fully integrated learning experience.

• Located in Colombo and operating under a management agreement with Omega Global.

• The centre is now in the planning stages.

Le Condon Bleu Dusit Culinary School (LCBD) reinforces position as a top culinary and bakery institute in the region

Located in Manila,the Philippines

• Relocated to Zen Tower, CentralWorldShopping Centre, Bangkok, where it can accommodate an additional 600 students per year.

• Since established in 2007, LCBD has produced over 10,000 qualified personnel for the service and food industries.

More expansion on hotel-college integrated model

17Remark: (1) Excluding parking area

Mixed-use project: The new iconic landmark of Silom-Rama 4

As of 28 February 2019

Dusit Thani Bangkok Hotel 1970-2019

Dusit Central Park 2023 onwards

Diversified to non-hotel business: Food

18

STANDARDIZE HOTEL F&B

to support Dusit International hotels worldwide with cost

efficiency

LEVERAGE DUSIT BRAND

Promote Dusit brand in retail and diversify into

food sector

RIDE THE FOOD TECHEnjoy rapid growth from

meatless protein and other products

LINK TO OUR CULINARY

with Dusit education business, create food science & food tech

education opportunity

99.99%

Dusit Gourmet

Dusit Foods

NR Instant Produce

90.0%25.977%

DTC

10.0%Food retail to distribute Dusit branded premium products to domestic & international markets

Several food products were ready to roll out for testing by end-2018

Food manufacturer

As of 25 March 2019

Our strategy: Bringing ASIA to the World

Epicure Catering*

51.0%

International school catering

*New investment in January 2019

19

• A leading purveyor of Asian flavors for more than 27 years by developing great sauces and dishes that brings out the very essence of traditional flavors.

• Engages in the business of production and export of ready-made food to Europe, US, Australia, New Zealand, and Asia.

Source: NRIP and DTC

Recipe mixes: Curry paste, Instant beef flavor broth,Crab/Shrimp paste with soya bean oil, Pad-Thai sauce,Sweet chili sauce, etc.Ready to eat meals (Noodle & Rice): Pad-Thainoodle, Udon noodle, Hokkien noodle, Jasmine ricewith red/green curry sauce, etc.

Seasonings (Dipping sauce & Cooking sauce):Fried chili paste, Fried red onion, Plum sauce, Sataysauce, Coconut sugar, etc.Beverages: Instant green tea, Instant Thai coffeedrink, Aloe Vera Drink with Honey, etc.Others: Sushi ginger, Yanang leave extract, Galanga,Minced coriander, Thai basil leaves, etc.

Prod

uct r

ange

s

Private label and co-packing

Owned Brands

OEM Customers

Financials

Strong growth potential from NR Instant Produce (NRIP)

1,056 1,048

1,139

2016 2017 2018

Total Revenue

THB mn

138183 214

2016 2017 2018

Net Profit

Remark: 1 Jan – 2 Oct 2017 audited figures and 2 Oct – 31 Dec 2017 management report

Recurring income from Epicure Catering (ECC)

20

50 5789

2016 2017 2018

Net Profit

308 336409

2016 2017 2018

Total Revenue

• A market leader in the education catering business, providing high quality food services to International Schools in Thailand, Vietnam, and Cambodia.

• Offers the best quality products to ensure children receive healthy and nutritious meals by the highly skilled team of executives that include full time food safety officers and dieticians/nutritionists.

2003

ECC was established

20192015 2017

Launched its first ventures in Vietnam

with 3 leading International Schools

Acquisition of 51% shares by

Dusit Foods

Expansion acrossthe region into

Cambodia

Secured School Contracts• 34 in Thailand • 3 Vietnam• 1 Cambodia

• Management has over 35 years of hospitality experience and 25 years experience in F&B in Thailand.

• Epicure was recently awarded HACCP (Hazard Analysis and Critical Point System) and GMP (Good Manufacturing Practice) certification.

Remark: 2016 & 2017 audited figures and 2018 management report

2020

Acquisition of additional 19%

shares (Dusit Foods to

hold 70%)

Selected International Schools

Financials

Source: ECC and DTC

THB mn

New business following Dusit Thani Bangkok closure

21

Other hospitality services by Dusit Hospitality Service Co., Ltd.

BAAN DUSIT THANI

Outside CateringHigh-end catering service for corporate, government and social events

D’Collection

Began trialing an on-demand housekeeping services for businesses based in Bangkok with favstay. Services include housekeeping, banqueting service staff, engineering, kitchen, and stewarding.

White label managementPre-opening & training standards

A destination which houses a collection of signature restaurants and event spaces that embodies the spirit and service of Dusit Thani Bangkok. Expect to open in mid-2019.

Pre-opening

Housekeeping

Restaurant

22

Financial performanceRemained resilient

Revenue and EBITDA contribution

23

Hotel83.2%

Education7.6%

Others9.2% THB

5,565 mn

2017

Hotel89.4%

Education4.3%

Others6.3%

THB1,000 mn

EBITDA contribution

Remark: REIT data is included in hotel business; Others = Realized income from deferred rental revenue, gain on sales of assets, interest income, dividend income, share of profit from investment by equity method, office rental income, and others

Hotel82.4%

Education7.9%

Others9.7% THB

5,570 mn

2018Revenue contribution

Hotel77.8%

Education4.5%

Others17.7%

THB1,099 mn

2017 2018

Hotel key statistics (excluding Elite Havens)

24

Ow

ned

Hot

el S

tatis

tic

Remark: *Excluding Dusit Princess Korat which was divested at the end of December 2017, for comparison purposeData excludes information of Elite Havens

2018: 29 properties

in 10 countries

56%44%

59%41%

62%38%

63%37%

5,404 5,354 5,881 6,078

2015 2016 2017 2018Non-controlling interest Total

(1) (2)

Resilient EBITDA as planned

25

9,388 9,0339,980

11,573

2015 2016 2017 2018Non-current Current

3,984 3,679 4,0995,495

2015 2016 2017 2018Non-current Current

Total Assets Total Liabilities Total Equity

Remarks:(1) Including THB 325 mn gain on sales of assets (Dusit Princess Korat)(2) Including THB 37.5 mn gain from sales of long-term investment(3) Including THB 87.8 mn of severance pay (Dusit Thani Bangkok)

(1) (2) (3) (1) (2) (3)

Ample financial capability for future growth

26

Remarks:IBD = Bank O/D, short-term loan from related parties, loans from financial institutions, and financial lease liabilitiesNet interest beating debt (Net IBD) = IBD - Cash & cash equivalents including short term investment2015 DPS is revised retroactively to reflect the Company’s par value change from THB10 to THB 1 since May 2016

2018 Dividend subject to shareholder’s approval

XD : 28 Mar 19Payment : 15 May 19

27

2019 Outlook & GuidanceRealizing potentials

Dusit Thani Maldives

** *

* **** ** *

Japa

n

**

UK

Aust

ralia

Growing global presence

28

* = In operation

Will continue to expand the business through asset light initiative and lease model

• Hotel: To open 11 new hotels in Philippines, Singapore, China, Qatar, Bahrain, and Kenya

• Villa: To increase number of villas under Elite Havens management in the existing markets and new market targeting Australia

Coverage will increase from 13 countries to 20+ countries and from 8,172 rooms to 20,000+ rooms by 2023.

As of 25 March 2019

Sale of Dusit Thani Maldives to DREIT

29

• Improve the efficiency of asset portfolio• A strategic move to enhance DREIT’s appeal to investors• Allow DTC to have revenue creation, generate returns and source

funds to support the company’s business expansion • DTC will continue to obtain revenue from the property, and

receive dividends from DREIT.• Subject to shareholders’ approval in April• Transaction worth not less than THB 2,304 mn

Dusit Thani Maldives

2 New lease hotel investments in pipeline

30

• Hotel and long-term stay project worth approx. THB 740 mn located in Pathumwan area, Bangkok, Thailand.

• Subject to shareholders’ approval in April

Baan Rajprasong

Pathumwan, Bangkok, Thailand97 rooms

Pom Prap Sattru Phai Project

Pom Prap Sattru Phai, Bangkok, Thailand224 rooms

• Mixed-use project with hotel and retail mall of which DTC will develop and manage only hotel project worth approx. THB 1,000 mn. The project is located in Pom Prap Sattru Phai area, Bangkok, Thailand.

• Subject to shareholders’ approval in April

• To revitalize both degree and non-degree programs. Degree programs: To offer more specialized area of concentration and modular structure for continuing students Non-degree programs: To offer mid-career refresher courses

• To target new student segment in mid-career for further & ongoing development and/or hospitality focus segment.• To synergize more with hotels for offering education cum recruitment after graduation.• To open DHMC as part of dusitD2 The Fort Manila hotel• Greater collaboration with esteemed partners

More integration of hospitality and education business

31As of 25 March 2019

32

Reveal “Dusit Central Park” in April

Opening target• Hotel• Residence• Retail • Office

Early 2023Mid 2024Late 2023Early 2024

Apr2019

Early2023

Begin demolishing Dusit Thani Bangkok Hotel and office building

Opening of the new Dusit Thani Bangkok Hotel

As of 28 February 2019

Dusit Central Park public launch

Food investment framework

33

To reach THB 1,000 mn revenue by 2021 with 20%-25% CAGR

Raw Material Manufacture

• Traditional farming

• Contract farming

• Smart farming/ Food technology

Acquired Brand

DTC Owned Brand

High Growth Potential

Strong Distribution

Channels

Develop owned brand that is synchronized with

“Dusit Thani”

Become the marketing arm for NRIP brands

(existing and new) for Thailand and new

markets

• Integrated business under DTC brands (Restaurant, Education, and Retail)

• Recurring income and high growth potential from catering business for international school in Southeast Asia region

• Develop standalone Thien Duong and franchises

Distribution/ Retails Food Outlet

NR Instant Produce (NRIP)

Baan Dusit Thani: A new food destination at Saladang

34

Concept: A destination which houses a collection of signature restaurants and event spaces that embodies the spirit and service of Dusit Thani Bangkok. Creating a destination with beautifully curated spaces that is popular to our loyal customers and new customers who are attracted to Dusit Thani’s high quality offerings and well designed, photogenic spaces.

2019 Outlook & Guidance

35

• Expect to open 11 new hotels to add around 2,000+ keys

• Diversify risk and expand through overseas hotel focused

• New lease model• New service model through Elite Havens

and favstay

• Synergize more with hotel and food business

• Focus on Non-degree & Short-course• Revitalize specialized hospitality focused

programs• New segment of students targeting mid-

career in hospitality business

• Develop new brand under Dusit umbrella• New product & distribution• Capitalized investment• Potential overseas expansion, reach out to the

world through our high quality products

• Mixed-use project development • Wellness • Residence• Other new hospitality services

Remark: * = Dusit Thani Pattaya, Dusit Thani College, Dusit Princess Chiang Mai and Dusit Princess Srinakarin Bangkok

• Expect core revenue to grow 8-10%• Estimated CAPEX of THB 1,140 mn

• THB 245 mn for hotel renovation*• THB 245 mn for ERP, software, hotel

and education capex• THB 650 mn for mixed-use project

Long term outlook

36Remark: Excluding new investment and hotel renovation under DREIT

# of new managed properties per year

New residence

Food business growth (CAGR)

Core EBITDA margin

Average CAPEX per year* (THB mn)

10-12

Pre-sales ~ early 2019

20-25%

18-20%

1,000

10

Completed in 2024

15-20%

20-25%

2,500

• New iconic flagship hotel• Integration of hospitality and

education business• Double no. of keys worldwide

• Completion of new mixed-use project• More revenue contribution from new

investments• Balance of revenue contribution from

Thailand and overseas

37Dusit Thani Guam Resort