CONFIDENTIAL

HappyHour Co. Company Profile

Leading producer of beer,spirits and non-alcoholic beverages In Singapore and Malaysia growing oppertunities

Overview Key financials

 Asia based producer of beer,spirits and non-alcoholic beverages

 Operations include manufacturing distributions and direct sales In Singapore

US$mm FY18A FY19A FY20E
malaysia and china Revenue 900 961 1071
growth% 0% 7% 11%
 Recently expanded operations to china and has expansion plans for
combodia.
Beer 100 110 135
 Majority owner and co-founders Ms.happy looking to exit with no close family
Spirits 75 85 105
to inherit the business.
Non-alcoholic beverages 50 55 60
EBITDA 225 250 300
Margin% 0.25 0.260146 0.280112

NPAT 135 153 193

Margin% 0.15 0.159209 0.180205
Shareholders

Indicative valuation

US$mm
2020E EBITDA 300
GROWTH% 20%

EV/EBITDA 10.0x-11.5x
Valuation 3000=3500
happy family hour family co family
Source:

1
 CONFIDENTIAL

Overview of auction process and key workstreams

Date Event Key workstreams

March 9 , 2020 Access to. Indicative bid. document VALUATION
>Initial valuation based on indicative bid documents

>structure and fianacing

9am April 9 2020 - 5pm April Indicative bid Q&A submission due Begin financing decision
Round 1: 13 2020(HQT)
Indicative Bid
Phase
Approvals
5pm may 13 2020 (hqt) Indicative bid due
Collecvt and confirm required approvals

Late may 2020 Start of final bid phase Site visit and management presetation
Release of. Process letter 2 >organize site visit and presentation
Due delligence
Orgaise q&a submissions

Round 2: Final Valuation

Bid Phase Late July 2020 Final bid >fianalizze valuation based of financial forecast

Finacing
>confirm source Of financing
Approvals
>ommence preparing application for iteral regulatory approvals