Slide 1: Proposed sale of Costa
Proposed sale of Costa 31 August 2018 PROPOSED SALE OF COSTA | AUGUST 2018
Slide 2: Summary | Proposed sale of Costa to The Coca-Cola Company
Summary | Proposed sale of Costa to The Coca-Cola Company • Highly attractive transaction • A leading international coffee benefitting all stakeholders brand • Almost 4,000 stores in 32 • Recognises strategic value in Costa countries brand & international potential • Over 8,000 self-serve Express ma
Slide 3: Value & transition | Significant premium to previous demerger plan
Value & transition | Significant premium to previous demerger plan Compelling valuation Supporting a smooth transition • EV multiple of 16.4x Costa FY18 EBITDA • Whitbread will support Costa & Coca- Cola during transition phase • Significantly higher than currently reflected in Whitbread’s market va
Slide 4: Timeline & proceeds | Completion expected in first half of 2019
Timeline & proceeds | Completion expected in first half of 2019 Approval timeline Use of proceeds • Transaction is conditional on • Transaction and separation costs of shareholder and various other approximately £100 million approvals • Significant majority of net proceeds to • Shareholder offering
Slide 5: Whitbread | Enhanced focus on Premier Inn in UK & Germany
Whitbread | Enhanced focus on Premier Inn in UK & Germany Market • UK’s leading hotel chain with almost 800 • Strong pipeline to deliver 32 hotels position hotels comprising 72,000 rooms comprising 6,000 rooms by 2020/21 Competitive • Largest UK network by comfortable gap • Significantly fragmented
Slide 6: Cautionary statement
Cautionary statement Nothing contained in this presentation is intended to constitute an offer, invitation or inducement to engage in an investment activity for the purposes of the prohibition on financial promotions under the Financial Services and Markets Act 2000. In making this presentation avai
Slide 7: Contacts
CONTACTS Matt Johnson Investor Relations Director E matt.johnson@whitbread.com Ann Hyams Investor Relations Manager E ann.hyams@whitbread.com M +44 7848 146 761 M +44 7796 709 087 Whitbread plc Whitbread Court, Houghton Hall Business Park, Porz Avenue, Dunstable, LU5 5XE vCard W www.whitbread.co.uk