London’sleading

restaurant &bar business

“a premium bar & restaurant business built on a

pre-booked sales system”Late Night London

2011 ALMR Best improved operator

2009 ALMR Operations Manager of the Year

2009 ALMR Rising Star Best operator

Coolest Venue Portfolio 2012 (2nd place : Soho House Group & 3rd place: Searcy’s). Also came 4th in ‘Coolest Restaurant’ award

Novus Leisure/“LateNightLondon” Offi cial Finalist Placing 2012Organised by M&C Report, chosen by the pub, restaurant and bar industry itself

2012 Restaurant Awards Shortlisted for Foundation, Covent Garden

recent awards

business description & growth plannovember 2012

30 new sites forGastro barsChampagne & cocktail bars Restaurant bars

Enterprise ValueNovus Leisure is privately owned & was recently acquired by LGV Capital & Hutton Collins for £100m which represents a doubling of enterprise value over the last 3 years.

Top performerprofi t growth from £8m to £17m in last 3yrs.

Growth planStakeholders with management will fund Novus’s 3 year growth plan with an additional £35m for acquisitions.

ResilienceNovus Leisure is a stable and resilient company, with an enviable reputation as a high quality operator.

Balance sheetNovus has low bank debt, generates substantial free cash and is owned and funded by its shareholders.

status

52 premium bars, restaurants & clubs across the UKEnviable balance sheetBusiness funded/owned by equity shareholders Debt/EBITDA less than 2:1 (No bank covenants)£12.4m free cash generated this yearOperating company (A3D2 Ltd) has traded for 14 yearsThe portfolio includes properties with blue-chip landlordsStrong reputation with the Police & Local authorities

summary

not a high street pub or night club

operator

80% of revenue taken

pre-midnight

60% of turnover is

food sales

28average

customer age

80% wet gross

profi t margin

55% of outlets pre-booked

by customers

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thbest in class operator

Source Management information, Coff er Peach Business Tracker index

Note Novus Leisure’s January LfL includes an extra week of trading

Novus Leisure LfL performance2012 actual: +13%Peach Tracker2012 (forecast): +3%

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west end & city dominance

Note

1 Novus fi gures are for FY12F

the business

customers focus on educated urbanites

Source: CACI CII Interactive ACORN Profi le, LEK analysis

Notes

1. Excludes Regions 2. 100 is in line with average

Wealthy Achievers 41

Prosperous Professionals

Aspiring Singles

Educated Urbanites 401

Comfortably off 59

Modest Means 59

Hard Pressed 69

Novus weighting vs UK average (100)2

Urban Prosperity

customers who are wealthy and resilient. most are in professional and managerial roles and many are working hard to further their careers. Jobs are relatively secure, unemployment in these areas is rising less rapidly than elsewhere. People have high incomes and bonuses. these young people have the world at their feet and plenty of money to enjoy it. highly qualifi ed people, mostly living in fl ats in major cities

Educated Urbanites25-35 years old. Resilient. Affl uent and employed

ResilientEmployed with high incomes

Mix of renters & home ownersGreat prospects & very low unemployment levels

Single, no childrenSocialising with friends is one of the last things to give up

London has the highest density followed byManchester. Bristol. Leeds

customerswealthy & resilient

5 trading formats 52 venues

52 locations central London & major regional cities

5 trading formats

West End23 Locations

City21 locations

Regions8 locations

Lewis & ClarkGastro bars

Jewel barsChampagne & Cocktail bars

Exchange barsPremium wine bars & restaurants

LandmarkLarge multi-room London bars

Tiger TigerLarge multi-room venues

12 x hybrid Gastro bars serious about

food & pre–booked sales

Advanced sales: 64%

Food- led occasion: 40%

Pre-11pm sales: 82%

Capacity 300 to 900

1. Lewis & Clarke 23% LfL sales growth

9 x premium Champagne &

cocktail bars

Advanced sales: 54%

Food –led occasion: 20%

Pre-11pm sales: 65%

Capacity 250 to 500

2. Jewel bars 14% LfL sales growth

3. Exchange Bars 40% LfL sales growth

8 x premium wine bars and restaurants

(formerly Balls Brothers)

Including Gow’s Fish Restaurant &

Oyster bar.

Advanced sales: 46%

Food- led occasion: 60%

Capacity 200 to 500

4. Tiger Tiger 21% LfL sales growth

Glasgow

Aberdeen

Portsmouth

Cardiff

Newcastle

Manchester Leeds

Croydon

prime locations in

regional cities8 x multi-room

venues

Advanced sales: 64%

Food – led occasion: 38%

Pre-11pm sales: 49%

Capacity 1200 to 2500

5. Landmark 19% LfL sales growth

15 x large multi-room London bars

Advanced sales: 46%

Food – led occasion: 21%

Pre-11pm sales: 55%

Capacity 500 to 1100

Drink category mix

Soft drinks 2%

Draught beer

10%

Wines &

Champagne

17%

Bottled beer

16%

drink category mix

premium drink

range72% Of Drinks Sold

are Spirits, Cocktails,Wines & Champagnes

Attractive supply agreements; Diageo, Bibendum and Justerini & Brooks

Wine range: £17 to £140Champagne range: £35 to £6,000

Cocktail range: £8 to £140

Champagne volumes equivalent of 2000 pubsSell 360,000 Mojito’s

1 million litres of wine and champagneVodka volume equivalent to 1000 pubs

serious about food

Some Of The Biggest food businesses In the UK

Dedicated central food team that is focused from ‘fi eld to fork’

Menus tailoredFocus on supply chain & supplier relations

Growth categories: Signature dishes, fresh fi sh, signature platters

ops excellence licensing, health & safety and securitydelivered by an experiencedand passionate team

CSRStrong relationships:CEO Steve Richards chairman of Assc. of Licensed Multiple Retailers (ALMR)Also Chairman of Westminster Council ‘Night-Time Economy Committee’Novus has never had any conditions forced on a licenseInternal licensing team Award winning systems

LON

Dedicated licensing

team London’s

safest venues

Back office reporting

system

Monthly meetings with

licensing authorities

Mystery customer

audits; Serve Legal

Detailed incident

reporting

Crisis management

team

Quarterly licensing seminars

Steve Richards

Chief Executive

Andrew Campbell

Chief Financial Officer

Rupert Macfarlane

Sales Director

David Lodge

Property Director Karen Davies

HR Director

Helen Cook

Head of Marketing Jason Thorndycraft

Operations Director

• 21 head office

• 54 sales managers

• 70 senior sales executives

Dedicated team

• 2 internal and extensive external consultants

Dedicated team

• 9 people

Dedicated team

• 4 Digital staff

Digital team • 11 operations

• 6 marketing

• 3 food

Dedicated team

PBS the business usp

LateNightLondon.co.ukA key driver of Pre-Booked sales

LNL provides details for all Novus London venues and a range of

promotions3rd party digital links

Website allows customers to submit booking requests

Proactive marketingCustomer database of 1.6 million

(digital & mobile)Allows for targeted and tailored

marketing to both consumers and corporate

Undergoing extensive refresh

Venue websitesIndividual websites provide venue

information and specifi c promotional off ers

Provide online booking link

Social networksMany of the venues have their own

social network presenceFacebook and Twitter

PBS digital the key channel….

growth plan

Venues 52 75

Sales £134m £246m

EBITDA1 £17.2m £35.0m

Financial Metrics

Increase bookable space

Drive PBS

2020 vision

Central London Pre - eminence

the vision central london pre-eminence

£6.75m reformatting capex for existing barsPBS from 55% to 60% sales30 new sites in Central London100+ sites in LondonReplicate cluster footprint regionally£35m of New equity to fund acquisitions provided by our Stakeholders

Note 1 EBITDA pre-exceptionals and closure costs

enormous opportunity remains in central london

Source: CACI, DCL – Novus Potential Acquisitions, LEK Analysis

site criteria30+ sites required in the next 3yrs...Ambitious expansion plans.

Site requirements;Preferred Gross internal Area (GIA) - 5,500sqft to 12,000sqftTrading Floors - multi fl oors/rooms with a mixture of ground fl oor, basement and 1st fl oors.Capacity 250 to 1200Licences: FlexibleLeasehold – 20 to 25yrs FR&I (Freehold considered)Primary and secondary locations.Distressed businesses & shell developments.M&A or part of groups

Formats Novus want to open;Lewis & Clarke – Gastro bars.Jewel bars – Champagne & cocktail bars.Exchange bars – Premium Wine bar and Restaurants.Bespoke Restaurants & bars.Landmark bars – Larger multi-room sites with a late licence.

delivering growthproperty management

TeamLed by David Lodge and an industry-leading team & external consultants.New head of Acquisitions to be announced.Rob Embleton – Head of Maintenance (Ex’ Head of Maintenance S&N, Spirit & Asda)David Street – Acquisition & property part-time (Ex Property Director for Whitbread plc)External team of property lawyers & agents

Quality LeasesAverage lease term is 17 years91% L&TA protected tenancies70% Full repairing and insuring (FR&I)

Diversifi ed Landlords41 diff erent landlords across the 52 sites (Land Securities, Soho Estates, Prupim, etc.)Good relationships with all & no disputesRecently improved terms on a number of leases.

Maintenance & Statutory ComplianceCentrally controlled by Rob Embleton with 6 monthly contractor & supplier reviewsOutsourced 24hr Helpdesk (AMPM)PPM regime in support of statutory compliance

covenant & commentary

summarycovenantsafe & experienced operator

Novus has rents of £100k to £1.1m pa with a rent roll

of £15m pa .

Existing Landlords include;Land Securities, IVG UK, Prudential, Legal &

General, Soho Estates, Crown Estates, Hammerson, Scottish Widows , etc.

Operates from a number of landmark buildings;Gherkin, Trocadero, Citypoint, Grand Connaught Rooms, Haymarket House, Cornhill including 5no

Grade II listed properties.Best in class regarding Corporate Social

Responsibility .46 late licenses in Westminster & City of London.

Enviable track record with police and licensing authorities.

Record profi ts in a tough market.

Novus Leisure is a stable and resilient company, with an enviable reputation as a high quality operator.

52 premium bars, restaurants & clubs across the UK

Enviable balance sheet

Business funded/owned by equity shareholders

Debt/EBITDA less than 2:1 (No bank covenants)

£12.4m free cash generated this year

Operating company has traded for 14 years

The portfolio includes properties with blue-chip landlords

Strong reputation with the Police & Local authorities

novusleisure.com