Dfi Retail Group Holdings Limited · SGX:D01
Dfi Retail — Merger or Acquisition (October 2026)
19 slides from Dfi Retail's merger presentation, Oct 1, 2026
Slide 1: DFI Retail Group: Brewing More Everyday Moments
DFI Retail Group Brewing More Everyday Moments 1 October 2026
Slide 2: Disclaimer
Disclaimer This Document (the ‘Document’) is for information purposes only. This Document is not intended to form the basis of any investment decision nor does it constitute any recommendation or advice as to how the reader should, or should not, act on any matter. The information in this Document i
Slide 3: Today's Presenters
Today’s Scott Price Group Chief Executive Kaizhi Wu Group Chief Financial Officer Presenters Andrew Wong Ella Chan Chief Executive Officer, Group Chief Strategy Officer DFI IKEA 3
Slide 4: Taking Full Control of Our Strategy & Opportunity Ahead
Taking Full Control of Our Strategy & Opportunity Ahead Scott Price Group Chief Executive 4
Slide 5: Pivot to full operational control of DFI businesses
Pivot to full operational control of DFI businesses The DFI and Hong Kong Caterers (HKC) partnership over the past 40 years has successfully grown Maxim’s into a leading food and beverage group in Asia In-line with DFI’s commitment to pivot from a portfolio to a focused operating company, we have mu
Slide 6: Transaction overview
Transaction overview • DFI to transfer its current 50% stake in Maxim’s in exchange for Maxim’s existing interests in the Starbucks Structure licensed business • DFI to receive c.US$340 million in cash consideration, representing the valuation difference Pro-forma • DFI will assume Maxim’s entire in
Slide 7: Starbucks licensed business
Starbucks licensed business Across Thailand, Hong Kong, Macau, Vietnam, Singapore, Cambodia and Laos Revenue (2025) US$746m Laos Hong Kong & Macau 6 coffeehouses 177 coffeehouses Revenue CAGR (2023-25) 3.5% Thailand No. of coffeehouses 1,110 574 coffeehouses Vietnam 156 coffeehouses (as of June 2026
Slide 8: Strong growth potential supported by structural tailwinds
Strong growth potential supported by structural tailwinds Building on ~16% share of a $3.8B market growing at 5% Growth opportunity in Southeast Asia Estimated annual coffee consumption per capita (Cups) Vietnam ~300 250-300 250-280 $1.7b +5.6% 210-260 180-200 130-150 Thailand $1.4b +4.2% Thailand V
Slide 9: Strategic rationale
Strategic rationale Final milestone in DFI’s strategic pivot from a portfolio to a focused operating ❶ company with full operational control ❷ The everyday community coffeehouse with strong heritage brand loyalty Expansion opportunity across high-growth Southeast Asian markets including ❸ Vietnam an
Slide 10: Unlocking Future Growth
Unlocking Future Growth Andrew Wong Chief Executive Officer, DFI IKEA 10
Slide 11: Building more 'Everyday Moments'
Building more ‘Everyday Moments’ 7 7AM I Morning 11AM Winning our core occasion 11 11AM I Lunch 2PM Building new occasions 2PM I Afternoon 2 5PM Building new occasions 5PM I Evening 7PM Building new occasions 5 11
Slide 12: Driving forward with DFI's strategic framework
Driving forward with DFI’s strategic framework Key Deliverables Initiatives ✓ Accelerate food & drink innovation Retail Excellence ✓ Introduce a Health-focused range ✓ Strengthen local relevance ✓ Leverage DFI’s strong property experience in Southeast Asia Access to ✓ Be selective in Reserve locatio
Slide 13: Driving Greater Shareholder Value
Driving Greater Shareholder Value Kaizhi Wu Group Chief Financial Officer 13
Slide 14: Revenue and operating margin accretive to DFI core retail business
Revenue and operating margin accretive to DFI core retail business Immediate revenue accretion… …at an attractive operating margin Including 9 months contribution from the Starbucks licensed business1 Coffeehouse Coffeehouse ~900 ~600-650 9-11% 8-9% H&B H&B H&B H&B 5-7% 5-6% 4-6% CVS CVS CVS 7.5% 2.
Slide 15: Deliver long-term value creation potential
Deliver long-term value creation potential • Expand footprint in Vietnam and Thailand 6-7% • Target 1,350+ total coffeehouses by 2029 ✓• Revenue and operating margin accretive to core Revenue CAGR1 • Improve store sales density through food retail business (’26-’29) & drink innovation ✓• Long-term e
Slide 16: Key takeaways
Key takeaways ❶ Full operational control over all DFI businesses ❷ Immediately revenue and operating margin accretive to core retail business ❸ Opportunity to enhance business performance ❹ Expand DFI omni retail platform synergy value ❺ Recycle c.US$340 million cash to reinvest in growth or return
Slide 17: DFI: Creating greater value together
DFI: Creating greater value together Full operational control of a multi-format retail platform focused on daily essentials Balanced and targeted growth opportunities across Asia Accelerating revenue growth driven by share of wallet gains Continued margin expansion underpinned by scale advantage DFI
Slide 18: Q&A
Q&A
Slide 19: Thank You
Thank You If you have any queries, please email DFIinvestor@DFIretailgroup.com
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