CONFIDENTIAL

HappyHour Co. Company Profile

Comprehensive Overview: Financial Performance, Indicative Valuation, and Ownership Structure

Overview
Key financials
 Headquarters: US $mm FY18 FY19 FY20
Singapore, with operations in Malaysia and China. revenue 900 961 1071
 Segments: Beer, Spirits, Non-alcoholic beverages. growth 7% 11%

 Market Leadership: beer 100 110 135

#1 player in Singapore and Malaysia.
spirits 75 85 105
 Ownership structure:
non alcoholic beverages 50 55 60
solely owned by three families with one family
undergoing a sale process.
 Operations: EBITDA 225 250 300
Manufacturing facilities in Singapore and Malaysia margin% 25% 26% 28%
(outsourced), with new facilities planned for
Cambodia. Engaged in Distribution and Direct Sales. NPAT 135 153 193
margin% 15% 16% 18%
Shareholders
happy family hour family co family Indicative valuation

us$mm
20% 2020 EBITDA $300.00

EV/EBITDA multiple 8.0x-10.0x

20% 60%
valuation range 2,400 - 3,000
Source:

1
 CONFIDENTIAL

Overview of auction process and key workstreams

Date Event Key workstreams

19 march 2020
th
Access to indicative bid
documents

Apr 13, 2020, at 5pm Indicative Bid Q&A Process

Round 1:
Indicative Bid (HKT)
Phase

May 13, 2020, at 5pm Submission of Indicative

(HKT)
Bids

Late May 2020 Final Bid Phase

Commencement

Round 2: Final
Bid Phase Late July 2020 Final Bid Submission
Deadline