Altdorf, November 16th, 2020 9M 2020 Results...Town Mgt. Land 13% 122.0 166.9 36.3 Hotels Real Estate Town Mgt. 9M 2020 9M 2020 Results –Analyst & Investor Presentation Altdorf,

9M 2020 Results

Analyst & Investor Presentation

Altdorf, November 16th, 2020

1. Executive Summary

2. 9M 2020 – Key Highlights

3. 9M 2020 – Operational Highlights by Destination

4. 9M 2020 – Financials

5. Outlook 2020

6. Appendix

Table of Contents

Altdorf, November 16th, 20209M 2020 Results – Analyst & Investor Presentation 2

1. Executive Summary 9M 2020


Executive Summary: resilient performance, despite the challenges brought

by Covid-19

4

Revenues

− Compared to CHF

325.2mn in 9M 2019, a

decline of 19.9%.

Impacted by the

closure and limited

occupancy of our hotels

segment.

− Q3 2020; revenues

were down 5.8% to

CHF 96.4 vs. CHF

102.3mn in Q3 2019.

CHF

260.4mn

Adj. EBITDA

− Down 29.3% in 9M

2020 vs. CHF 57.3 in

9M 2019.

− Q3 2020; Adj. EBITDA

decreased by 15.5%

to CHF 13.3mn vs.

CHF 15.7mn in Q3

2019.

CHF

40.5mnCash and bank

balances

− Cash on hand

increased by 6.3%

from CHF 186.0mn in

FY 2019, signaling a

strong liquidity position.

CHF

197.8mn

Net losses

− Net loss of CHF

26.6mn in 9M 2020

vs. a loss of CHF

7.9mn in 9M 2019.

− Q3 2020; losses

reached CHF 7.4mn

vs. CHF 6.4mn in Q3

2019.

CHF (26.6)mn

Financing

− Working with the

Egyptian banks to

restructure the current

debt securing more

flexible terms.

Debt Restructure

Altdorf, November 16th, 20209M 2020 Results – Analyst & Investor Presentation

* For presentation purposes, figures are rounded to the nearest decimal place. Percentages, percent changes and absolute variances, however, are calculated based on the exact figures as shown in the financial statements.

2. 9M 2020 – Key Highlights


166.9149.5

48.9 47.5

9M 2019 9M 2020

Real Estate Financials (CHF mn)

Revenues Adj. EBITDA

428.0

535.8

9M 2019 9M 2020

566.9

704.2

9M 2019 9M 2020

381.3

294.4

9M 2019 9M 2020

Net Real Estate Sales (CHF mn)*

9M 2020

9M 2020 Results – Analyst & Investor Presentation 6

Key Segment Financials & KPIs

22.8% 24.2%

Real Estate Receivables Portfolio (CHF mn)Real Estate Deferred Revenue Balance (CHF mn)

25.2%

10.4%

2.9%

122.0

48.032.1 3.5

9M 2019 9M 2020

Hotel Financials (CHF mn)

Revenues GOP

60.7% 36.3 34.0

(1.6)(1.8)

9M 2019 9M 2020

Town Management Financials (CHF mn)

Revenues Adj. EBITDA

12.5%

6.3%


89.1%

* 9M 2020 figures includes CHF 37.5 million of commercial sales.

48.0

149.5

34.0

28.9

Hotels

Real Estate

Town Mgt.

Land

13%

122.0

166.9

36.3

Hotels

Real Estate

Town Mgt.

9M 2020


Y-o-Y Revenue Analysis

38%51%

11%

58%

11%

18%

Revenues by Segment 9M 2019 (CHFmn) Revenues by Segment 9M 2020 (CHFmn)

CHF 260.4mnCHF 325.2mn

57%

13%

15%

3%

2%5%

1%1%

3%

El Gouna

Hawana Salalah

O West

UAE

Jebal Sifah

Lustica Bay

Taba Heights

Others*

Makadi Heights

47%

19%

9%

6%

7%

8%

3%1% 1%

El Gouna

Hawana Salalah

O West

UAE

Jebal Sifah

Lustica Bay

Taba Heights

Others*

Makadi Heights

9M 2020


Y-o-Y Revenue Analysis

Revenues by Destination 9M 2019 (CHFmn) Revenues by Destination 9M 2020 (CHFmn)

CHF 260.4mn

− Others in 9M 2019 included, Oberoi Zahra, Fayoum & Corporate.

CHF 325.2mn

− Others in 9M 2020 Fayoum & Corporate.

3. 9M 2020 – Operational Highlights by Destination


Destinations

A leading fully integrated

developer with more than

30 years of experience

101.0 mn m2

of land bank across

7 countries

67.8 mn m2 remaining

land bank (67.1%)

9 operating destinations

with 33 Hotels

& 7,176 rooms

10

Egypt:

▪ El Gouna

▪ Taba Heights

▪ Makadi Heights

▪ Fayoum

– O-West

Oman:

▪ Hawana Salalah

▪ Jebal Sifah

– As Sodah Island

– City Walk

UAE:

▪ The Cove

Switzerland:

▪ Andermatt

Montenegro:

▪ Luštica Bay

United Kingdom:

– Eco – Bos

Morocco:

– Chbika

Portfolio

1

1

2

3

4

5

6

7

2

3

4

5

6

7

▪ Operating Destination


El Gouna, Egypt

Update 9M 2020

− Continuing to accelerate construction activity,

keeping our real estate delivery schedule on track,

delivering 254 units by the end of 2020.

− Finalizing the construction of a bank branch, an

entertainment hub and a mega supermarket, all to

be delivered in Q4 2020.

− In August 2020; added new inventory in “Ancient

Sands Villas” for a total value of CHF 27.7mn.

− In November 2020; we launched “Fanadir

Sea Front” real estate project with a total

inventory of CHF 79.5mn.

− Hotels are still operating at a 50% capacity

as per the government instructions. We had

958 rooms opened during the reported

period which then increased to 1,346 rooms

in October 2020.

11

− Completed the renovation of the first

phase of Rihanna Inn Hotel (84 rooms).

− Occupancy rate for “El Gouna Homes”

in (July-Aug) reached 70% & 79%,

respectively.

− Successfully hosted the 4th edition of El

Gouna Film Festival in Oct. 2020 in our

new Plaza Hall.

El Gouna, Egypt

Revenues per segment

9M 2020 (CHF mn)

-3.2%

147.3152.1

-1.1%

+35.6%

-62.5%

El Gouna, Egypt

KPIs

9M 2020 9M 2019 % Chg

Hotels

Total number of rooms* 2,692 2,607 3.3%

Occ. for total rooms (%) 27% 83% (67.5%)

TRevPAR (CHF) 28 79 (64.6%)

GOP (CHFmn) 1.9 26.1 (92.7%)

GOP PAR(CHF) 3 38 (92.1%)

Real Estate

Net sales (CHFmn) 112.5 98.1 14.7%

No of contracted units 187 194 (3.6%)

Avg. selling price (CHF/m2) 3,337 2,923 14.2%

*The number of rooms increased due to opening of Casa Cook

Hotel (100 rooms) In November 2019.

12

54.6

20.5

69.4

94.1

28.127.8

4.9

9M 2019 9M 2020

Hotels Real Estate Destination Management Land

Hawana Salalah, Oman

Update 9M 2020

− Construction progress and real estate

deliveries are continuing at a steady speed

across multiple projects.

− More handovers of “Forest Island” units

took place in October after Salalah airport

was opened on October 1st.

− Planning to deliver 213 units in 2020,

already delivered 103 units.

− Marina-side restaurants are receiving more

footfall from Salalah-based residents,

primarily during weekends, and excluding

periods where the curfew was implemented.

− Oct 9th: The Supreme Committee of Oman

announced a 2 weeks curfew & closure of

beach access till further notice throughout

the Sultanate. Events continue to be

prohibited in Oman.

13

− Hotel occupancy to date is limited,

depending mainly on the Salalah-based

market, with minimal interest from

Muscat residents.

− Juweira Boutique Hotel re-opened its

doors on Oct. 4th, while Al Fanar Hotel

has temporarily closed its operations.

While Rotana Salalah is still opened.



9M 2020 (CHF mn)

30.3

13.6

30.0

18.7

1.1

1.7

9M 2019 9M 2020

Hotels Real Estate Destination Management

-44.6%

34.0

61.4

+54.5%

-37.7%

-55.1%


KPIs

9M 2020 9M 2019 % Chg

Hotels

Total number of rooms 1,081 1,081 –


TRevPAR (CHF) 46 103 (55.3%)

GOP (CHFmn) 1.3 10.5 (87.6%)

GOP PAR (CHF) 4 36 (88.9%)

Real Estate

Net sales (CHFmn) 10.4 26.1 (60.2%)

No. of contracted units 63 162 (61.1%)


14

Luštica Bay, Montenegro

Update 9M 2020

− The Chedi Lustica was opened again on June 15th.

Unfortunately, July has seen a rise in the rate of

new infections and further restrictions in travel

across the region which impacted the summer

season operation.

− The Chedi Hotel was able to close August and

September with 48% & 40% occupancy rates,

respectively and a positive GOP for both months.

15

− We have sales reservations of CHF 9.1mn.

Outstanding reservations are taking longer

to be converted into contracts, due to social

distancing and travel ban procedures

imposed related to Covid-19.

− Construction in Lustica is progressing with

plans to deliver 45 units in 2020, already 33

units were delivered in the Centrale and the

Marina Village areas.

− Finishing works on the main marina is

completed and the main design for the golf

course has been completed.

− Upgraded the main beach and opened a new

beach club.



9M 2020 (CHF mn)

4.41.2

18.9

11.8

1.2

1.2

9M 2019 9M 2020


14.2

-42.0%

24.5

-37.6%


KPIs

9M 2020 9M 2019 % Chg

Hotels

Total number of rooms 111 111 –


TRevPAR (CHF) 58 174 (66.7%)

GOP (CHFmn) (1.0) 0.1 (1,100%)

GOP PAR (CHF) (47) 3 (1,668%)

Real Estate

Net sales (CHFmn) 8.8 25.2 (65.1%)


Avg. selling price (CHF/m2) 5,283 5,486 (3.7%)

16

-72.7%

-

O West, Egypt

Update 9M 2020

− In September 2020; we added CHF 29mn of new

inventory in “Whyt” and “Tulwa” projects.

− 336 new memberships were added to O West Club

(membership fee is CHF 8,6k), bringing the total no.

of memberships in the club to 1,271, securing a

steady recurring income flow once it is opened.

− During 9M 2020, we increased the average selling

prices by 15.8% to CHF 1,434 per sqm.

− Speeding up construction pace - 133 villa

skeleton keys are already being visible out of the

planned 445 villa keys of phase 1.

− Planning to start the construction of the three

schools in Q4 2020, subject to the approval of the

related authorities.

− Finalizing the development of O West Club’s

masterplan.

17

O West, Egypt

KPIs

− Render

18

9M 2020 9M 2019 % Chg

Real Estate

Net sales (CHFmn)* 126.8 204.9 (38.1%)

No. of contracted units 336 762 (55.9%)


* The value of contracted units in 9M 2020 includes CHF 31.1mn

from Commercial sales (schools development agreements).

O West, Egypt


9M 2020 (CHF mn)

+40.4%

27.7

38.9

27.7

14.9

24.0

9M 2019 9M 2020

Real Estate Land

-46.2%

4. 9M 2020 – Financials


(CHFmn) Q3 2020 Q3 2019 9M 2020 9M 2019

Revenue 96.4 102.3 260.4 325.2

Cost of sales (74.6) (79.1) (195.1) (240.8)

Gross profit 21.8 23.2 65.3 84.4

Gross profit margin, (%) 22.6% 22.7% 25.1% 25.9%

Investment income 1.3 2.6 4.1 7.9

Administrative expenses (9.8) (10.1) (28.9) (35.0)

Adj. EBITDA 13.3 15.7 40.5 57.3

Adj. EBITDA margin, (%) 13.8% 15.4% 16.0% 17.6%

Other gains & losses 0.9 2.4 (4.2) 10.3

Share of associates losses (2.2) (2.9) (5.4) (8.6)

EBITDA 12.0 15.2 30.9 59.0

Depreciation (7.1) (7.7) (21.5) (22.6)

Finance costs (9.0) (9.6) (26.9) (30.4)

Income tax expense (3.3) (4.3) (9.1) (13.9)

Net losses for the period (7.4) (6.4) (26.6) (7.9)

Attributed as follows:

ODH shareholders (8.3) (7.9) (25.4) (13.9)

Non-controlling interest 0.9 1.5 (1.2) 6.0

EPS (CHF) (0.21) (0.20) (0.63) (0.35)

9M 2020

20

Income Statement – Reported

Notes

Revenues and gross profit decreased, due to the lockdown measures

restrictions that were implemented by the governments and their

implications on our business operations.

Successfully maintained healthy gross profit margin levels, as a result of

our quick implementations of the cost savings initiatives and the pickup in

real estate and land segments during 9M 2020.

Decrease in G&A expenses is mainly due to the absence of the previous

CEO contingent compensation and the cost savings initiatives implemented

in response to the Covid-19 pandemic.

Other gains & losses for 9M 2020 mainly includes:

I. FX gains of CHF 0.7mn vs. FX gains of CHF 10.2mn in 9M 2019.

II. Provisions of CHF 5.7mn in 9M 2020 vs. CHF 1.7mn in 9M 2019.

Share of associates losses decreased due to the decrease in losses of

ASA, OHC & increase in the profitability of Red Sea for Construction Co.

Decrease in finance cost is mainly due to decrease in interest rates in Egypt

in addition to the decrease in Libor rates.

Income tax expense decreased due to the decrease in the profitability of the

subsidiaries.

Decrease in non-controlling interest was due to the increased loss

contribution from the subsidiaries where we own minority stakes.

1

2

3

5

3

4

1

5

6

4


1

2

6

7

7

8 8

9M 2020

21

Balance Sheet

Notes

Inventory mainly includes a total amount of CHF 405.7mn for the land held

for development (O West) to co-develop an integrated community project.

Receivables increased due to the increase in real estate revenue across all

destinations.

Cash & bank balances increased mainly due to increase in real estate cash

collection.

Investment in associates increased due to the increase of our capital share

in ASA. ODH participated in ASA’s capital increase, contributing

CHF 34.3mn to maintain its 49% stake.

Borrowings mainly includes:

(+) CHF 14.9mn – Net proceeds.

(+) CHF 9.7mn – Deferred interest payments.

(-) CHF 4.9mn – Debt settlement.

(-) CHF 14.1mn – FX.

Payables include accruals to the Egyptian government for O West project.

Other liabilities increased due to the increase in customers advance

payments related to the real estate sales, in addition, to the value of the

non-cash (In-kind BUA) portion due to the Egyptian government for O West

project.

1

2

4

3

5

(CHFmn) 30.09.20 31.12.19

Property, plant and equipment 794.7 814.4

Inventory 545.1 516.4

Receivables 165.6 154.7

Cash and bank balances 197.8 186.0

Investments in associates 53.9 29.3

Other assets 128.2 134.2

Non-current assets held for sale 5.5 5.8

Total assets 1,890.8 1,840.8

Borrowings 435.5 429.9

Payables 405.4 388.4

Provisions 31.4 33.6

Other liabilities 495.5 421.6

Liabilities related to assets held for sale 0.5 0.6

Total liabilities 1,368.3 1,274.1

Non-controlling interests 158.4 160.3

Equity to ODH shareholders 364.1 406.4

Total liabilities and equity 1,890.8 1,840.8

2

1

4

5

6


3

6

7

7

9M 2020 Results – Analyst & Investor Presentation

22

Cost of Debt: 6.4%

9M 2020 Balance: CHF 435.4mn

Current Debt by CountryCurrent Debt by Currency* Current Maturity Profile & Balance

Planned Maturity Profile & Balance

Planned Balance: CHF 487.5mn

Planned Debt by CountryPlanned Debt by Currency

*Balance reflects the 6 months postponement of debt

repayments, as per the Governments directive.

Financing Profile


EGP11%

USD35%

EUR5%

AED4%

OMR21%

GBP1%

CHF23%

EGP

USD

EUR

AED

OMR

GBP

CHF

48%

21%

4%

3%1%

23%

Egypt

Oman

UAE

Montenegro

UK

Switzerland

14 2 932 47

164

220

CF 2020 2021 2022 2023 2024 2025 -2032

EGP20%

USD17%

EUR19%

AED3%

OMR18%

GBP1%

CHF20%

EGP

USD

EUR

AED

OMR

GBP

CHF

54%

18%

4%3%

1%

20%

Egypt

Oman

UAE

Montenegro

UK

Switzerland

14 16

4759 63

147

89

CF 2020 2021 2022 2023 2024 2025 -2032


9M 2020

Altdorf, November 16th, 2020 23

Cash Flow Statement

Notes

Cash flow from operations decreased as a result of the lockdown

measures restrictions imposed by the governments and their effect on

our hospitality segment.

Interest paid decreased as a result of the deferred interest payments

initiative – instituted by the governments where we operate.

Taxes paid in 9M 2019 includes CHF 12.9mn one-time tax settlement

payment for the Egyptian subsidiary.

Payments for PP&E include construction activities in Gouna, O West,

UK and Oman.

Other items in 9M 2019 included CHF 16.7mn as proceeds from the

sale of Tamweel which is not present in 2020.

Change in borrowings mainly includes:

(-) Debt repayment of CHF 6.2mn.

(+) Debt proceeds of CHF 16.8mn.

3

(CHF mn) 9M 2020 9M 2019

Cash from operations 32.1 41.7

Interest paid (5.2) (19.4)

Taxes paid (8.5) (23.0)

Operating Cash Flow 18.4 (0.7)

Payments for PP&E (21.8) (39.1)

Other items 6.3 28.4

Investing Cash Flow (15.5) (10.7)

Change in borrowings 10.6 (27.2)

Non-controlling interests shares in changes of

equity for consolidated subsidiaries3.9 1.9

Other Items 0.3 1.4

Financing Cash Flow 14.8 (23.9)

Net change in cash/equivalents 17.8 (35.3)

Cash & bank balances beginning of period 186.0 138.3

Effects of FX changes (5.9) 8.5

Cash & bank balances end of period* 197.8 111.5

1

2

3

1

2

4

4

5

6

5

6


5. Outlook 2020


25

Outlook FY 2020

ODH:

▪ Looking into the fourth quarter, visibility remains limited as demand may still be impacted by the ongoing fluid circumstances resulting from the

pandemic. Accordingly, ODH still stands with its earlier position and abstains from providing full-year guidance on its 2020 results; however, we remain

diligent in providing updates of the evolving situation during all our quarterly results calls and market communications as needed.

▪ Working with the Egyptian banks to restructure the current debt securing more flexible terms.

Hotels:

▪ Tourism business continues to be profoundly impacted by Covid-19. While we understand that the full recovery from pandemic will take time, the current

pick up in local travel reinforces our view that when people feel safe, travelling demand returns quickly. We are continuing to implement several cost

saving initiatives across our hotels and will continue to increase marketing efforts to create local demand for our destinations until international travel

recovers.

▪ The travel ban in Oman was lifted on October 1st, 2020; yet as Covid-19 cases in the country has started to increase the Sultanate of Oman has re-

entered into night-time lockdown (from 8:00pm to 5:00am) effective October 9th, 2020 until October 24th, 2020.

▪ Total hotel portfolio includes 7,150 rooms, of which 35% (2,485 rooms) were open as of the 9M 2020.

Real Estate:

▪ Continuing to accelerate our real estate construction pace across all our projects, planning to meet our contractual delivery dates.

▪ We continue to witness pent-up demand for our real estate products across El Gouna, O West and Makadi Heights in Egypt and Jebal Sifah in Oman,

showing a positive trend uptake.

▪ Real estate cash collections is on track.


6. Appendix


9M 2020

27

Revenue Analysis

Revenue EBITDA Adj. EBITDA1

(CHF mn) 9M 2020 9M 2019 Δ in % 9M 2020 9M 2019 Δ in % 9M 2020 9M 2019 Δ in %

Hotels 48.0 122.0 (60.7%) (4.9) 35.5 (113.8%) (1.9) 38.0 (105.0%)

Real Estate 149.5 166.9 (10.4%) 44.3 48.2 (8.1%) 47.5 48.9 (2.9%)

Land 28.9 – 100.0% 20.3 1.1 1,745.5% 20.3 1.4 1,350.0%

Town Management2 34.0 36.3 (6.3%) (2.3) (1.9) 21.1% (1.8) (1.6) 12.5%

Corporate & Unallocated Items – – – (26.5) (23.9) 10.9% (23.6) (29.4) (19.7%)

ODH Group 260.4 325.2 (19.9%) 30.9 59.0 (47.6%) 40.5 57.3 (29.3%)

1 Adjusted EBITDA: EBITDA adjusted for Non-cash items (which includes provisions & impairments, other gains and losses, FX gains & share in associates).2 Town Management include revenues from Utilities & services, Hospital, Marina, Golf, Rentals, Educational services, Limousine, & other town amenities.


9M 2020


Real Estate Sales KPIs

Net value of contracted units

(CHF mn)Number of contracted units

Average selling price

(CHF/m2)

Country Destination 9M 2020 9M 2019 Δ in % 9M 2020 9M 2019 Δ in % 9M 2020 9M 2019 Δ in %

Egypt El Gouna* 112.5 98.1 14.7% 187 194 (3.6%) 3,337 2,923 14.2%

Fayoum 0.9 1.5 (40.0%) 5 11 (54.5%) 797 796 0.1%

Makadi Heights 20.2 18.8 7.4% 132 151 (12.6%) 1,002 652 53.7%

O West** 126.8 204.9 (38.1%) 336 762 (55.9%) 1,434 1,238 15.8%

Oman Jebel Sifah 14.8 6.7 120.9% 86 33 160.6% 2,173 2,359 (7.9%)

Hawana Salalah 10.4 26.1 (60.2%) 63 162 (61.1%) 2,130 1,991 7.0%

Montenegro Luštica Bay 8.8 25.2 (65.1%) 13 51 (74.5%) 5,283 5,486 (3.7%)

ODH Group 294.4 381.3 (22.8%) 822 1,364 (39.7%)

* The value of contracted units includes CHF 6.4mn from El Gouna land sale.

**The value of contracted units includes CHF 31.1mn from Commercial sales (schools development agreements).

9M 2020


Hotels KPIs

Total number of

rooms

Number of

operating rooms

Occ. for total

number of rooms

(%)

ARR (CHF) TRevPAR (CHF) GOP PAR (CHF)

Destination 9M 2020 9M 2019 9M 2020 9M 2019 9M 2020 9M 2019 9M 2020 9M 2019 9M 2020 9M 2019 9M 2020 9M 2019

El Gouna1 2,692 2,607 958 2,607 27 83 72 67 28 79 3 38

Taba Heights2 2,349 2,365 412 2,365 13 48 28 36 6 25 (6) 1

Fayoum 53 53 25 53 14 29 77 62 18 31 1 8

Hawana Salalah 1,081 1,081 1,017 1,081 26 55 118 128 46 103 4 36

Jebal Sifah 68 67 68 67 25 40 106 124 51 89 (8) 7

UAE 472 475 472 475 37 65 117 136 70 147 11 48

Montenegro 111 111 111 111 18 52 145 197 58 174 (47) 3

ODH Group 6,826 6,759 3,063 6,759

Q3 2020

30

Revenue Analysis

Revenue EBITDA Adj. EBITDA1

(CHF mn) Q3 20 Q3 19 Δ in % Q3 20 Q3 19 Δ in % Q3 20 Q3 19 Δ in %

Hotels 10.7 38.4 (72.1%) (5.4) 9.2 (158.7%) (3.9) 10.3 (137.9%)

Real Estate 59.7 50.1 19.2% 16.2 15.4 5.2% 17.9 15.7 14.0%

Land 14.8 – 100.0% 8.6 0.1 8,500.0% 8.8 0.2 4,300.0%

Town Management2 11.2 13.8 (18.8%) (1.8) (0.04) 4,400% (1.4) (0.1) 1,300.0%

Corporate & Unallocated Items – – – (5.6) (9.5) (41.1%) (8.1) (10.4) (22.1%)

ODH Group 96.4 102.3 (5.8%) 12.0 15.2 (20.8%) 13.3 15.7 (15.5%)

1 Adjusted EBITDA: EBITDA adjusted for Non-cash items (which includes provisions & impairments, other gains and losses, FX gains & share in associates).2 Town Management include revenues from Utilities & services, Hospital, Marina, Golf, Rentals, Educational services, Limousine, & other town amenities.


Q3 2020


Real Estate Sales KPIs

Net value of contracted units

(CHF mn)Number of contracted units

Average selling price

(CHF/m2)

Country Destination Q3 2020 Q3 2019 Δ in % Q3 2020 Q3 2019 Δ in % Q3 2020 Q3 2019 Δ in %

Egypt El Gouna* 37.9 30.8 23.1% 56 43 30.2% 3,221 3,385 (4.8%)

Fayoum 0.2 – 100.0% 2 – 100.0% 974 – 100.0%

Makadi Heights 13.1 5.8 125.9% 86 43 100.0% 996 980 1.6%

O West 34.3 44.3 (22.6%) 123 172 (28.5%) 1,448 1,276 13.5%

Oman Jebel Sifah 9.9 0.1 9,800% 54 3 1,700% 2,149 906 137.3%

Hawana Salalah 2.0 4.2 (52.4%) 14 26 (46.2%) 2,049 1,928 6.2%

Montenegro Luštica Bay 5.2 11.6 (55.2%) 9 19 (52.6%) 5,378 5,926 (9.2%)

ODH Group 102.6 96.8 6.0% 344 306 12.4%

* The value of contracted units in Q3 2020 includes CHF 6.4mn from El Gouna land sale.

Q3 2020


Hotels KPIs

Total number of

rooms

Number of

operating rooms

Occ. for total

number of rooms

(%)

ARR (CHF) TRevPAR (CHF) GOP PAR (CHF)

Destination Q3 2020 Q3 2019 Q3 2020 Q3 2019 Q3 2020 Q3 2019 Q3 2020 Q3 2019 Q3 2020 Q3 2019 Q3 2020 Q3 2019

El Gouna1 2,692 2,607 958 2,607 19 81 89 68 21 78 1 34

Taba Heights2 2,349 2,365 412 2,365 10 65 34 40 5 36 (5) 5

Fayoum 53 53 25 53 10 31 39 40 7 27 (7) 2

Hawana Salalah 1,081 1,081 1,017 1,081 6 35 43 145 4 70 (23) 13

Jebal Sifah 68 67 68 67 35 27 87 108 58 59 (6) (17)

UAE 472 475 472 475 36 55 149 119 73 107 8 15

Montenegro 111 111 111 111 33 78 147 226 100 286 (2) 100

ODH Group 6,826 6,759 3,063 6,759

Deferred Revenue Balance Schedule

33

Country Destination

Total deferred

revenue balance 2020 2021 2022 2023 2024

Egypt El Gouna 164.0 45.6 77.0 41.4 – –

Fayoum 1.6 0.7 0.2 0.4 0.3 –

Makadi Heights 47.7 10.0 15.9 15.9 5.9 –

O West 279.6 20.6 78.1 69.8 62.4 48.7

Total Egypt 492.9 76.9 171.2 127.5 68.6 48.7

Oman Jebel Sifah 15.7 1.4 12.0 2.3 – –

Hawana Salalah 17.7 5.2 12.2 0.3 – –

Total Oman 33.4 6.6 24.2 2.6 – –

Montenegro Luštica Bay 9.5 1.3 8.2 – – –

ODH Group 535.8 84.8 203.6 130.1 68.6 48.7

• Figures are rounded to the nearest decimal point.

(CHF mn)


34

Covid-19 Effect on the Group

In 2020


Covid-19 progression:

ODH:

▪ January and February 2020, all the Group’s business segments were operating normally. Only in early March, when Covid-19 repercussions started to impact the

company’s results, as global governments took actions to encourage social distancing.

▪ The deterioration accelerated towards the end of March, as the pandemic spread further and the number of countries adopting restrictive measures increased, of

which travel restrictions and flight suspensions around the world have been implemented.

Egypt:

▪ On March 16; The government suspended all flights into and out of the country's airports starting March 19, 2020.

▪ On March 19; The government instructed the closure of hotels in the touristic destinations and imposed a partial curfew effective March 25, 2020 to date.

▪ On May 3; The government has officially allowed the reopening of hotels and resorts starting 15 May 2020 for domestic tourism only, after being closed since

March 19. Hotels will be permitted to operate at a maximum capacity of 25% until 1 June 2020, then at 50% by June 2, 2020.

▪ On June 23: The government allowed the re-opening of cafes, restaurants & places of worship with 25% capacity & and lifted the curfew that was imposed.

▪ On July 1: The government has officially allowed the reopening its airports for International flights.

▪ On July 22: The government allowed restaurants & cafes to increase their occupancy capacity to 50% from the previous 25%.

▪ On September 21; The government has allowed wedding ceremonies and cultural events to be held in open-air venues.

▪ On September 21; Passengers travelling to Egypt must be in possession of negative PCR test certificate for (Covid-19), maximum 72 hours (before flight

departure time). International Passengers who are travelling directly to (Sharm El Sheikh/Taba/Hurghada /Marsa Alam) airports who failed to submit a valid PCR

test, shall undergo the PCR test upon arrival to those airports with charge of USD 30.

35Altdorf, November 16th, 20209M 2020 Results – Analyst & Investor Presentation

Oman:

▪ On March 1: The Government suspended commercial flights to and from Italy from Salalah Airport.

▪ On March 18: Oman closed all tourist sites and banned gatherings in public places including beaches and parks.

▪ On March 24: The Government suspend international and domestic flights from March 29, 2020.

▪ On March 27: We closed all our hotels in Jebal Sifah and Hawana Salalah as a result of Covid-19 pandamic spread.

▪ Governorate of Dhofar is in lockdown (since end of June) until October 1st (no access from other governorates).

▪ On July 22: Following a new spike in Covid-19 cases, Oman has decided to impose new restrictions in the country that will come into force on 25 July, in addition

to implementing a two-week lockdown that will overlap the Islamic feast of Eid Al Adha, between 25 July and 8 August 8.

▪ On August 14: The nightly curfew ban on unnecessary movement between 9:00pm to 05:00am would be lifted from, August 15, 2020.

▪ Hotels generally have started opening starting July 1st , but no pools, beach access or restaurants are open. Hotel guests are only able to have in-room dining.

▪ On September 7: The Omani government has announced the resumption of international flights effective October 1st, 2020.

▪ On October 9: The Omani government as Covid-19 cases in the country has started to increase the Sultanate of Oman has re-entered into night-time lockdown

(from 8:00pm to 5:00am) effective October 9th, 2020 until October 24th, 2020. The curfew applies to both the public and to commercial outlets. Beaches will also

be closed till further notice.

Montenegro:

▪ On March 16: The Government has instructed closure of all hotels.

▪ On April 29: The Government announced that it will reopen all hotels as of May 18, 2020.


In 2020

36Altdorf, November 16th, 20209M 2020 Results – Analyst & Investor Presentation

Andermatt:

▪ On March 13: The SkiArena Andermatt-Sedrun was forced to stop operating immediately.

▪ On March 16: The Federal Council decided that all restaurants, bars, swimming pools and fitness centers in all of Switzerland must remain closed as of March 17,

2020.

▪ On March 18: Radisson Blu Reussen Hotel was closed.

▪ On March 22: The Chedi Andermatt hotel was closed.

▪ On May 8: Reopening of hotels and rental apartments on 8 May. Operations to follow a strict Covid-19 security concept to optimally protect guests and

employees, with promising occupancy rates.

▪ On May 11: Excellent start to the golf season.

▪ On October 23: Andermatt's flagship mountain, the Gemsstock, has opened for the winter season starting from October 31, 2020. In the first phase, skiing will be

possible on the sunny slope; the other lifts and slopes including the valley run will be successively opened.


In 2020

Taba Heights, Egypt

Update 9M 2020

− Taba Heights continues to struggle. Borders

with Jordan remain closed since March 2020.

− In Q3 2020, hotels revenues reached CHF

0.6mn up from CHF 0.05mn in Q2 2020.

− Occupancy rates reached 10% in Q3 2020

from 1% in Q2 2020.

37

− During Q3 2020 two hotels were opened,

the hotels have a total of 929 rooms, with

only 412 rooms opened, as per the 50%

capacity the government has in place. On

October 9, we closed one hotel, to date we

have only one hotel opened with 252

rooms.

− Our short-medium term strategy for

Taba Heights remains focused on

developing and promoting existing

and potential business

opportunities with local operators.

Taba Heights, Egypt


9M 2020 (CHF mn)

9.0

2.1

1.2

0.3

9M 2019 9M 2020

Hotels Destination Management

-76.7%

-75.0%

2.4

10.2

-76.5%

Taba Heights, Egypt

KPIs

9M 2020 9M 2019 % Chg

Hotels

Total number of rooms* 2,349 2,365 (0.7%)


TRevPAR (CHF) 6 25 (76.0%)

GOP (CHFmn) (2.3) 0.5 (560.0%)

GOP PAR (CHF) (6) 1 (700.0%)

38

* During Q1 2020 we converted 16 rooms in Mosaique hotel to

suites thus reducing the number of rooms to 2,349.

Jebal Sifah, Oman

Update 9M 2020

− Jebel Sifah witnessed an increased

demand for short staycations at the Sifawy

Boutique Hotel and rental apartments,

during the months of Aug. and Sep.

Unfortunately the re-imposed 2-week

curfew has now resulted in a decline in our

apartment rentals & hotel bookings.

39

− Delivery of Jebel Sifah Heights units is in its final

stages. Planning to deliver 140 units for FY 2020 –

delivered 103 units YTD.

− Phase 1 of the “Beachfront project” is 90% sold out

with construction progressing per schedule.

− The construction and ground-breaking of 115 units

in “Beachfront project”, will start in the beginning

of Q4 2020.

− There has been increased interest

from potential tenants looking to rent

commercial outlets in Jebel Sifah.

− On the retail front, more activity has

already been witnessed with

restaurants re-opening, and new

ones’ openings such as the “Crafty

Kitchen”.

Jebel Sifah, Oman


9M 2020 (CHF mn)

1.7 1.0

19.7

3.7

1.5

1.4

9M 2019 9M 2020


-73.4%

6.1

22.9

-6.7%

-81.2%

-41.2%

Jebel Sifah, Oman

KPIs

9M 2020 9M 2019 % Chg

Hotels

Total number of rooms 68 67 1.5%


TRevPAR (CHF) 51 89 (42.7%)

GOP (CHFmn) (0.2) 0.1 (300.0%)

GOP PAR (CHF) (8) 7 (214.3%)

Real Estate

Net sales (CHFmn) 14.8 6.7 120.9%

No of contracted units 86 33 160.6%

Avg. selling price (CHF/m2) 2,165 2,294 (5.6%)

40

Makadi Heights, Egypt

Update 9M 2020

− Launching “Topio”, a new apartment phase in

Nov. 2020 with a total inventory of CHF 7.5mn.

− Speeding up the construction of Phase 2 of the

project with plans to deliver 244 units in 2022.

More revenues will start to kick in over the next

quarters.

− Render

41

− In Q3 2020, Makadi Heights delivered excellent

real estate sales figures recording a 125.4%

increase to CHF 13.1mn vs. CHF 5.8mn in Q3

2019.



9M 2020(CHF mn)

0.70.2

0.8

6.0

1.1

0.7

9M 2019 9M 2020


2.6

6.9

+165.4%

-36.4%

+650.0%

-71.4%


KPIs

9M 2020 9M 2019 % Chg

Real Estate

Net sales (CHFmn) 20.2 18.8 7.4%


Avg. selling price (CHF/m2)* 1,002 652 53.7%

42

The Cove, UAE

Update 9M 2020

− The Cove, Ras Al Khaimah, was amongst our best

performing destinations.

− In Q3 2020, the hotel’s revenue totaled CHF 3.2mn

up from CHF 0.8mn in Q2 2020. Occupancy rates

reached 36% from 13% in Q2 2020.

43

− In Q4 2020, we continue to capitalize on local and

regional business through targeted sales promotions

and market campaigns.

− We anticipate that demand for The Cove will gradually

improve as travel restrictions continue to be lifted over

the coming period.

The Cove, UAE


9M 2020 (CHF mn)

20.5

9.0

9M 2019 9M 2020

Hotels

9.0

20.5

-56.1%

-56.1%

The Cove, UAE

KPIs

9M 2020 9M 2019 % Chg

Hotels

Total number of rooms 472 475 (0.6%)


TRevPAR (CHF) 70 147 (52.4%)

GOP (CHFmn) 1.4 6.2 (77.4%)

GOP PAR(CHF) 11 48 (77.1%)

44

Eco Bos, UK

ODH’s newest addition to its towns’ portfolio

− Render

− Work on site never stopped unlike many

other sites across the UK which paused

construction because of Covid-19.

− We are almost finished with groundwork’s

and infrastructure and expect our first

homes to be delivered in Q2 2021.

− Shawbrook Bank has continued to show full

commitment to the project and there have been no

delays or disputes related to any monthly

disbursements so far. To date we withdrew £ 4.4mn

out of the £ 18mn facility geared towards the 296

homes.

45

IR Dashboard Calendar & Contact


IR Dashboard Calendar & Contact

Investor Relations Contact

Sara El Gawahergy

Head of Investor Relations

Head of Strategic Projects Management

Phone EGY: +20 (0)22 461 89 61

Mobile CH: +41 179 156 78 49

E-Mail: [email protected]

47

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THIS DOCUMENT DOES NOT CONTAIN OR CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF ANY OFFER TOBUY SECURITIES IN THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION

IS NOT AUTHORIZED OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE AN OFFER OR SOLICITATION. THESECURITIES OF OD HOLDING HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES

SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO OR FOR THE ACCOUNT ORTHE BENEFIT OF “U.S. PERSONS” (AS SUCH TERM IS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT

OF 1933, AS AMENDED) ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S.SECURITIES ACT OF 1933, AS AMENDED. OD HOLDING NOR ITS SHAREHOLDERS INTEND TO REGISTER ANY

PORTION OF THE OFFERING IN THE UNITED STATES OR CONDUCT A PUBLIC OFFERING OF SECURITIES IN THEUNITED STATES.

THIS DOCUMENT IS DIRECTED ONLY AT PERSONS (i) WHO ARE OUTSIDE THE UNITED KINGDOM OR (ii) WHO HAVE

PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THEFINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED) (THE "ORDER")

OR (iii) WHO FALL WITHIN ARTICLE 49(2)(a) TO (e) ("HIGH NET WORTH COMPANIES, UNICORPORATED ASSOCIATIONSETC.) OF THE ORDER (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). ANY

PERSON WHO IS NOT A RELEVANT PERSON MUST NOT ACT OR RELY ON THIS COMMUNICATION OR ANY OF ITSCONTENTS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS COMMUNICATION RELATES IS AVAILABLE

ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS.IN ANY EEA MEMBER STATE THAT HAS IMPLEMENTED DIRECTIVE 2003/71/EC (TOGETHER WITH ANY APPLICABLE

IMPLEMENTING MEASURES IN ANY EEA MEMBER STATE, THE “PROSPECTUS DIRECTIVE”) THIS COMMUNICATION ISONLY ADRESSED TO AND IS ONLY DIRECTED AT QUALIFIED INVESTORS IN THAT EEA MEMBER STATE WITHIN THE

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THIS DOCUMENT CONSTITUTES NEITHER AN OFFER TO SELL NOR A SOLICITATION TO BUY ANY SECURITIES AND IT

DOES NOT CONSTITUTE A PROSPECTUS PURSUANT TO ARTICLES 652a AND/OR 1156 OF THE SWISS CODE OFOBLIGATIONS OR ARTICLES 32 ET SEQ. OF THE LISTING RULES OF THE SWX SWISS EXCHANGE. A DECISION TO

INVEST IN SHARES OF THE GROUP SHOULD BE BASED EXCLUSIVELY ON THE ISSUE AND LISTING PROPECTUSPUBLISHED BY THE GROUP FOR SUCH PURPOSE.

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CONTRACT OF WHATSOEVER NATURE, IN PARTICULAR WITHIN THE TERRITORY OF EGYPT, THE UNITED ARABEMIRATES, KUWAIT, MOROCCO, OMAN AND SAUDI ARABIA.

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ROUNDING

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Documents

Altdorf, November 16th, 2020 9M 2020 Results...Town Mgt. Land 13% 122.0 166.9 36.3 Hotels Real Estate Town Mgt. 9M 2020 9M 2020 Results –Analyst & Investor Presentation Altdorf,