Jardine Matheson Holdings Limited · SGX:J36
Jardine Matheson — Investor Day (June 2026)
26 slides from Jardine Matheson's investor day presentation, June 2026
Slide 1: Mandarin Oriental Jardines Investor Day
Mandarin oriental Jardines Investor Day JUNE 2026
Slide 2: Speakers
SPEAKERS Laurent Kleitman Matthew Bishop Group Chief Executive Chief Financial Officer 2
Slide 3: Agenda
AGENDA 01 02 03 04 Market and Growth Strategy Value creation Returns business update enhancement
Slide 4: Mandarin Oriental is a global luxury hospitality group in a rapidly expanding market
MANDARIN ORIENTAL IS A GLOBAL LUXURY HOSPITALITY GROUP, OPERATING IN A RAPIDLY EXPANDING MARKET SECTOR Luxury hotel market Expanding global growing at a CAGR of wealth and growing experiential 8% consumption Outpacing the broader drive sustained hotel market luxury hotel demand Source: Euromonitor (
Slide 5: Three business segments of Mandarin Oriental today
THREE BUSINESS SEGMENTS OF MANDARIN ORIENTAL TODAY Management Business Owned Hotels PROPERTY 47 hotels and resorts Equity stake in 10 out of 47 hotels One Causeway Bay – 15 branded residences Grade A Commercial building in Hong Kong CORE CORE NON-CORE
Slide 6: Branded residences and projects in pipeline
MANDARIN ORIENTAL In 2023 Today Hotels and resorts 36 +11 47 Branded residences 11 +4 15 Projects in Pipeline 20 +10 30+ 6
Slide 7: Performance update
IZ PERFORMANCE UPDATE
Slide 8: Elevating the brand
ELEVATING THE BRAND Brand Strength Index: AAA+ +3.9pts YoY ‘25 2025 NPS: 72 Record High Brand Strength Index & Net Revamp of Bangkok Record Earned Media Value Launch of MO App Promoter Score Fans of M.O. 150th anniversary celebration (EMV) for 2025: $113 m 8
Slide 9: Record signing of new hotels, takeovers and openings
RECORD SIGNING OF 11 NEW HOTELS, 3 TAKEOVERS AND OPENINGS OF 2 HOTELS & 1 RESIDENCE 3 management takeovers: 3 openings: New conversion: New conversion: Signing of 11 HMAs Lutetia Paris, Amsterdam, Vienna, Downtown Dubai and Luxor in Egypt Aswan in Egypt and 6 PMAs and Desaru Coast Madrid 9
Slide 10: Strong performance in 2025 driven by RevPAR growth and portfolio expansion
STRONG PERFORMANCE IN 2025 DRIVEN BY REVPAR GROWTH AND PORTFOLIO EXPANSION Net unit Hotel Gop RGI RevPAR (Market share) (Revenue per available room) growth Margin +2.6% +10% +5% +1.9% pts 2025 year-on-year growth, 2025 year-on-year growth, 2 hotel openings, 3 management 2025 year-on-year growth Like
Slide 11: Strong performance in 2025 led by management business growth
STRONG PERFORMANCE IN 2025 LED BY MANAGEMENT BUSINESS GROWTH AND CONTINUED GROWTH IN OWNED HOTEL PROFITABILITY Financials (comparable basis) US$m 2025 2024 YoY Combined total revenue 2,311 2,015 +15% Hotel management fee 104 86 +22% Management business EBITDA ¹ 45 39 +14% Owned hotel revenue 602 564
Slide 12: Growth strategy
Growth strategy
Slide 13: Mandarin Oriental value proposition
MANDARIN ORIENTAL VALUE PROPOSITION GENERATE ELEVATE Value (Shareholder Returns) The brand with strong desirability and pricing power Fee revenue growth ACCELERATE Increasing value of Management Business INNOVATE Growth Brand-led, guest-centric, Truly through a differentiated high-quality global lux
Slide 14: Executive management team
EXECUTIVE MANAGEMENT TEAM Laurent Kleitman Group Chief Executive Vincent Marot Kieren Barry Kristin Ruble Matthew Bishop Francesco Cefalu Amanda Hyndman Alex Schellenberger ShaoWei Ong Raphael Bick Chief Technical Group Counsel Chief Chief Chief Chief Chief Brand & Marketing Chief People & Culture C
Slide 15: Protect and grow brand equity as we scale
ELEVATE a stronger Mandarin Oriental brand equity And Win with the Most Valuable Guests EXCEPTIONAL EXCEPTIONAL KEY TARGET CUSTOMERS: HOTELS & RESORTS: RESIDENCES & HOMES: AMERICANS, HIGH NET KEEP STRENGTHENING STRONG BRAND PROPOSITION WORTH, FANS OF MO THE CORE PROTECT AND GROW BRAND EQUITY AS WE S
Slide 16: Accelerate: high quality pipeline to secure hotels and residences
ACCELERATE high quality pipeline to secure 100 hotels and 50 residences HOTELS & RESIDENCES & HOMES RESORTS 10+ PROJECTS 30+ PROJECTS GROW SCALE WITHOUT DILUTING BRAND OR RETURN 16
Slide 17: Innovate: truly differentiated luxury
INNOVATE Truly differentiated luxury RESTAURANTS AND BARS SIGNATURE MOMENTS WELLBEING Support scale without quality dilution 17
Slide 18: Operate: drive commercial excellence
OPERATE WITH EXCELLENCE DRIVE COMMERCIAL COST EXPANDING ROBUST EXCELLENCE DISCIPLINE OPERATING MARGINS GOVERNANCE CONVERT OPERATIONAL EXCELLENCE INTO SCALE 18
Slide 19: Enable through talent and tech
ENABLE Enable through talent and tech CORE TECHNOLOGY SCALING FOUNDATIONS AND TECHNOLOGY TALENT RECRUITMENT EFFORTS ACCELERATED AS A HUMAN AS CORE PRIORITY +18,000 COLLEAGUES AI DEPLOYMENT AMPLIFIER SCALE THE PORTFOLIO WITHOUT DILUTING CULTURE OR GUEST EXPERIENCE 19
Slide 20: Value Creation Plan
Value Creation Plan
Slide 21: Management business by 2030
MANAGEMENT BUSINESS BY 2030 MANAGEMENT BUSINESS REVENUE, US$M MANAGEMENT BUSINESS EBITDA AND EBITDA MARGIN, US$M 300 18% p.a. 200 29% p.a. 200 150 100 100 50 0 0 2025 2030 2025 2030 EBITDA margin c.40% c.65% 21
Slide 22: Identified risks with mitigations in place
IDENTIFIED RISKS WITH MITIGATIONS IN PLACE RISKS mitigations Diversified geographic footprint of existing portfolio and MACROECONOMIC EVENTS DISRUPTING ! pipeline. OPERATIONS (E.G. MIDDLE EAST CONFLICT) Active pipeline management with disciplined execution, close OPENING DELAYS MAY DEFER EARNINGS AN
Slide 23: Return enhancement
Return enhancement
Slide 24: Reduced invested capital and net debt, returned capital to shareholders 2021-2025
FROM 2021 - 2025, MOHG HAS REDUCED INVESTED CAPITAL AND NET DEBT, RETURNED SIGNIFICANT CAPITAL TO SHAREHOLDERS, ENHANCING RETURNS WHILE COMPLETING THE CONSTRUCTION OF OCB assets disposals Significant Net debt Flagship asset delivering cash capital reduced by repositioning inflow of returned to & One
Slide 25: Transition to a higher margin, fee-driven, capital light business model
STRATEGY REINFORCES TRANSITION TO A HIGHER MARGIN, FEE - DRIVEN, CAPITAL LIGHT BUSINESS MODEL WITH IMPROVED SHAREHOLDER RETURNS RETURN ON INVESTED CAPITAL Capital allocation framework: 1. disciplined balance sheet 2. Stable & growing dividends 4X 3. Divest non - core assets 4. Reinvest selectively (
Slide 26: Mandarin Oriental Exceptional, everyday, everywhere
Mandarin oriental Exceptional, everyday, everywhere