Capital Raising – Investor Presentation

12 October 2022
Capital Raising - Investor Presentation

Cooks Coffee Company Limited (NZX:CCC) has released a presentation to potential
investors as part of the placement alongside the previously announced rights
issue.
The company will be using this presentation in investor roadshows to commence
in the United Kingdom shortly as part of the dual listing process.

FURTHER ENQUIRIES
Cooks Coffee Company Limited
Keith Jackson
+64 21 702 509
Keith.jackson@cookscoffeecompany.com

About Cooks Coffee
Cooks Coffee is an international coffee focused café chain building a family of
brands serving coffee, a full range of complimentary beverages and an extensive
range of food, all sharing a passionate philosophy to provide their communities with
excellent products and service based on integrity, sustainability, innovation and
appealing environments.

The Group operates under two brands: Esquires Coffee was founded nearly 30
years ago and Cooks Coffee acquired the global rights (excluding Australia and New
Zealand), focusing on operations in the UK and Ireland in 2013. Triple Two Coffee
was acquired in June 2020 and has an offering that is complementary to Esquires.
Triple Two was founded in 2016 and it is currently one of the fastest growing coffee
focused cafe brands in the UK.

With Esquires and Triple Two, Cooks Coffee has 111 outlets across the UK, Ireland
and its international markets as at the end of September 2022.
To find out more, visit www.cookscoffeecompany.com

---

Proposed dual listing on the
AquisStock Exchange Growth
Market in November 2022
Investor
Presentation

2
Aiden Keegan
ManagingDirector,
Great Britain
David Hodgetts
Managing Director,
Triple Two Coffee
Tony McVerry
Managing Director,
Ireland and Europe
Keith Jackson
Executive Chairman
Craig Brown
Chief Financial Officer
Company
Management

3
CooksCoffee
Company is thefourth
largestcoffeefocused
caféchain(behind
Starbucks,Costaand
CaffèNero)and the
largestsolelyfranchisor
focusedcafé chain
inthe​UK & Ireland.​​
Cooksowns
theinternational IP
andmaster
franchisingrights to
theEsquires
Coffeebrand
globally*, andowns
the UK-basedTriple
Twobusinessone of
the fastest-growing
coffeefocused brands
inthe UK market.​
The Cooksfranchise
model promotes individual
entrepreneurship and local
community engagement.
The strategy of the business
is to build further scale
through organic growth and
synergistic acquisitions.
Cooksis currently listed
on the New Zealand Stock
Exchange (NZX: CCC)
and will conduct a
fundraise to accelerate
growth and list on the
Aquis Exchange in
London in November 2022
under the ticker “Cook”.
Cooks Coffee Company Introduction
* (excluding Australia
and New Zealand)
No 4
111
stores
Cooksis building
abusiness ofethical
coffee brands with
community spirit.
Cooksgrowing estate
currently comprises
111 stores worldwide.

The company is building a group of ethical coffee chains with community spirit.
CCC has an ongoing commitment to establish objectives that will manage the
organisation’s impact directly and actively on society and environmental sustainability.
The very specific USP’s within this include:
Localisedcommunity spirit
Franchisees are local and own their own business.
Bespoke offerings at individual outlets to meet local needs.
Specialty coffee & delicious food locally sourced where practical.
Ethical Practices
Certified Coffee, Fairtrade, Organic and Rainforest Alliance plus direct to
farmer purchases.
Focus on using and increasing the use of ethical and renewable packaging
& design materials.
The group is committed to establishing specific ESG purpose &policies
and to identify sustainability targets and monitor these andreport on
progress through a specific Board process.
The Directors believe Cooksprovides a unique offering.
Cooks Positioning
4

Esquires Coffee has 91 cafés, with
50 in the UK, 15 in Ireland as at
30th September 2022.
The brand is positioned as premium
mainstream and has a strong
reputation for its organic coffee,
contemporary food offering and its
local franchisee ownership.
Its certified carbon neutral roastery
has direct links to coffee farmers.
Delivery partnerships have been
established with Just Eat, Deliveroo
& Uber Eats.
91
cafes
5

Triple Twohas seen rapid expansion since
beingfounded in 2016, starting with a kiosk in
theBrunel Centre, Swindon.
Triple Twobrand is positioned as a
premiumboutique coffee provider that offers a
high qualityfood offering.
Delivery partnerships with Deliveroo, Uber
Eats,Just Eat and Too Good To Go.
Triple Twohas rapid expansion plans,
with a number of new locations identified.
In June 2020,Triple Twowas acquired
byCooks. There were 20 franchised-operated
Triple Twocafés as at 30th September 2022.
6

7
The UK Coffee Sector
Allegra estimates the UK branded
coffee shop segment to be valued
at £4.4 billion with the industry
demonstrating a significant bounce
back close to pre-Covid levels of
trading.
As of January 2022, the branded
UK coffee shop market consists of
9,540 outlets, a net increase of
324 over the last year.
The market is projected to grow to
£5.8 billion by 2026 at 5.8%
CAGR, with outlets due to exceed
10,500 at 2.1% CAGR.
*Allegra Strategiesis a leading strategic research
consultancy focusing on food, retail, hospitality,
health and wellness.
The main trends driving coffee shop
development are:
•Working from home is seeing
more demand in the suburbs.
•Sustainability–reusable
cups, eco-friendly packaging
and ethically sourced products.
•Diversity of offering –milk
alternatives, vegan options,
improved food options.
•Digital integration –online
ordering, loyalty schemes, and
deals and offers.
•Diverse formats –Drive-
thru’s, click-and-collect,
delivery working zones.
UK Coffee Trends

UK & Ireland Locations
As at the end of September 2022, Cooks’ brands
collectively had 111 cafésacross the UK, Europe, the
Middle East, and South Asia, and the company forecasts
the number
of cafés to grow to more than 200 by FY25.
Cookshad a total of 70 cafés in the UK making it the
fourth largest coffee focused brand by number of cafés
based on Allegra data.
Esquires Coffee has 50 cafes in the UK & 15 in Ireland.
Triple Twohas 20 cafés currently which has almost
doubled in the last 12 months.
8

Working from home is driving
growing demand outside of
city centres.
More, bigger,
& better cafes.
Growth Plans
Considerable opportunities for expansion of brand
formats and channels via organic development
of existing real estate footprint and via
acquisitions of businesses already operating in
channels currently not represented in the network.
•Cooksexisting 70 cafes in the UK represents
less than 1% of the branded café market &
the opportunity to grow share is significant. In
Ireland, the share of 654 branded outlets is
2.3% currently.
•Triple Twois rapidly expanding and has been
identified by IGD* in its coffee sector report of
June 2021 as being one of the 7 “Rising
Stars” of the UK Café market. The brand has
almost doubled its footprint in the last year
and has a strong pipeline of new cafes.
•Increasing pace of net openings as
the property market offers greater availability
as the industry emerges
from the pandemic.
•Acquisition and rebranding of existing
independent cafes.
Grow existing outlets via additional
transactions & spend
•Extended trading into the evening
using existing cafe base and extending the
food & alcohol offerings.
•Continue to build the food offering to support
additional sales
•Build delivery service and click & collect
throughout the network.
•Expand APP loyalty membership and develop
a more personalised approach
to marketing.
•Build the digital channels including delivery
and click & collect.
The estimated number of outlets by FY25 is over
200, at a CAGR of 24%.
9
* IGD Research

10
Store -Revenue
The figures contained in these projections are estimates
only. They are not warranted as representing the actual
outcome. No allowance has been made for depreciation,
interest or tax.
Outlet
Economics
NZD
10
Indicative investment for
a 160 sqm new store fit out
Franchise Fee$39,000
Professional Fee(Legal, Design etc)$20,000
Equipment$100,000
Furniture & Smallwares$70,000
Construction & Fit Out$310,000
TOTAL$539,000
Fit out costs will be subject to condition of the unit to be
fitted and will be determined by the nature of the works to be
carried out. The above figures represent the average of a
range but are provided to illustrate cost
Store -Capital
Indicative key
store financials
Sales p.a.$700,000
Cost of Goods$196,00028.0%
Labour$182,00026.0%
Occupancy$126,00018.0%
Other Costs$52,5007.5%
Royalty$42,0006.0%
Marketing$14,0002.0%
NET PROFIT$87,50012.5%
RETURN ON
INVESTMENT
16.2%

Revenue Mix
The Key sources of Revenue for Cooks are:
Recurring Operational Revenues:
Royalties
Marketing Fees that are used
to support the brand
Supplier incentives
Capital Revenues:
Sale of café franchises
Sale of regions in the UK (ECUK)
Property Search & Project
Management Fees (Triple Two only)
Design Fees
Construction & Fit Out Fees
(Triple Two only)
The above chart illustrates the trends between recurring revenue
growing as the café numbers increase and the proportion of one-off
revenue reducing over FY23-FY25
32.2%
27.5%
22.8%
67.8%
72.5%
77.2%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
FY23
FY24
FY25
Revenue Mix FY23
-
FY25
One Off
Recurring
11

12
Esquires Coffee
Houses (Ireland)
Tony McVerry
15 Outlets
Triple Two Coffee
David Hodgetts
20 Outlets
Franchise Development
(Master Franchisee Markets)
Esquires Coffee
(UK)
Aiden Keegan
50 Outlets
Board Of Directors
Keith Jackson, Michael Hutcheson, Paul Elliott,
Peihuan Wang, Michael Ambrose.
Portugal
1 Outlet in Porto
Saudi Arabia
12 Outlets
Craig Brown
Chief Financial Officer
CCC -111 Cafés
at 30 September 2022
Kuwait
3 Outlets
Bahrain
5 Outlets
Jordan
1 Outlet
Pakistan
3Outlets
Indonesia
1 Outlet

Resilient Performance
April -August 2022
ESQUIRES COFFEE UK
performing well April-August
FY22 v FY19 (Pre-Covid)
Café sales were up 46.9%, & LFL stores
were up 2.4% v 2019 pre Covidlevels.
Store sales were up 25.9% & LFL sales
were up 20.6% v April to August 2021.
50 cafésin operation at31 August 2022.
ESQUIRES COFFEE IRELAND
now back to pre-Covid
trading patterns
Longer periods of restriction in Ireland,
normal trading resumed in mid-February
2022.
Sales for April –August 2022 were up
135.4% on the comparable 2021 period,
and 0.6% on the comparable 2019 period.
LFL store sales were up 135.9% on 2021
and 5.0% on the comparable 2019 period.
15 cafésin operation atMarch 2022.
TRIPLE TWO expanding rapidly
Triple Two business was acquired in
June 2020.
Store sales for the April –August period in
2022 were up 77.3% on 2021 and LFL
store sales were up 29.2%.
The brand has grown from 11 cafésas at
1 April 2021 to 20 cafésat31 August
2022 and plan on ending FY23 with 30
cafés.
13

14
Fundraising
18 October 2022Rights Issue Opening Date
28 October 2022Rights Issue Closing Date
2 November 2022
Dual-Listing &
Admission to Aquis
2 November 2022
Allotment of Shares
The Company is aiming to raise £1.5
million from the New Zealand open offer
and UK placing at a fundraising price of
NZ$0.36 (£0.18) per new share.
The fundraising will enable Cooks
Coffee Companyto accelerate the
opening of new stores,expand its
offering, and bring greater value
to customers and shareholders.
Cooksfurther intends to use the
capital from the fundraising to progress
its plans for an expandeddigital
marketingcapabilityand for general
working capital purposes,with the
aim of expanding theirclient base
and improving the Company’s overall
product offering.
Cooksis also actively seeking to
acquire dynamic brands with a unique
offering. The Company willfocus on
targeting well-run firms with strong
sustainability credentials who can
provide synergieswith Cooks’ existing
Esquiresand Triple Two brands.

Investment Summary
Cooks Coffee’s brands make up the fourth largest
coffee focused chain and the largest solely
franchisor focused café chain in the UK & Ireland.
Expanding the footprint of the Esquiresand
Triple Twobusiness with major focus on the
core business of building the store network in
the UK and Ireland.
Cooksis building a business of “ethical coffee
chains with community spirit” –based around the
current Esquiresand Triple Twobrands, with
further complementary acquisitions planned.
Benefiting froma resilientrecoveryfrom the Covid-19period
and the change with the growth of working fromhome.​
Expanding revenue streams within existing café estateto
include enhanced, click and collectcapability,improved loyalty
programs plusdelivery options and newproduct offerings.
Capitalraising to facilitate the openingof new
outlets,complete near-term acquisitions, and enhance
digitalfunctionality and growth.​
Dual listing on the AquisExchange in November
2022 alongside existing listing in New Zealand.
15
No 4

appendix

Historical
Financial Results
In FY22 the business has recovered well post
Covid lockdowns.
Positive EBITDA shows recovery to the
pre-Covidtrend following period of
restructuring & simplification of the business.
Capital raised during FY22 has been used
to reduce debt, and reduce interest cost.
Debtors, creditors and deferred revenue
initially increased following the addition of
the Triple Twobusiness in FY21.
FY22 reflects a more normal structure as
one off integration factors were concluded.
Current Liabilities for FY21 included the
provision for earn-out consideration as part
of the acquisition of Triple Two.
This has now been concluded and the
balance written back with greater certainty
as the earn out period is almost completed.
There was a consequential revision of the
Goodwill provision.
Significant increase in Net Assets from FY20
onward are due to the impact of changes
in the IFRS 15 & 16 accounting standards
relating to the treatment of leases.
September numbers are in line with
theprevious 5 months trend.
Forex rate NZ$2.00 -£1.00
17
FYE 31 March
FY2020
FY2021
FY2022
NZ$'000s
Actual
Actual
Actual
Revenue - Continuing Op's
4,202


2,727


7,821


EBITDA
480


(909)
814


EBITDA Margin
11.4%
(33.3%)
10.4%
EBIT
(222)
(1,728)
233


EBIT Margin
(5.3%)
(63.4%)
3.0%
Finance Costs
Finance Costs
687


892


881


Impairment of Inv estment in Associate
2,520


-


5,893


Share of Net Loss of Associate
168


-


Reduction of Contingent Consideration
Payable
(6,431)
NPBT for Continuing Op's
(3,597)
(2,620)
(200)
Tax Expense / (Credit)
(7)
(80)
(110)
NPAT for Continuing Op's
(3,590)
(2,540)
(90)
NPAT for Discontinued Op's
(1,593)
(7)
(348)
Other Income/(Loss)
(99)
58


(120)
Net Profit/(Loss) After Tax
(5,282)
(2,489)
(558)
NPAT %
(125.7%)
(91.3%)
(7.1%)
Summary Statement of Financial Performance
As at 31 March
FY2020
FY2021
FY2022
NZ$'000s
Actual
Actual
Actual
Debtors
951


4,615


1,244


Lease Receiv ables
1,670


2,085


2,755


Other Current Assets
1,083


1,303


606


Creditors
(3,996)
(5,401)
(4,518)
Current Deferred Rev enue
(211)
(5,196)
(1,119)
Other Current Liabilities
-


(7,073)
(627)
Net Working Capital
(503)
(9,667)
(1,659)
Intangible Assets
2,840


19,064


12,719


Fixed Assets
2,613


793


1,792


Lease Receiv ables
16,653


16,198


16,488


Other Non Current Assets
15


15


15


Total Non Current Assets
22,121


36,070


31,014


Total Non Current Liabilties
1,192


3,066


3,084


Total Net Operating Assets
20,426


23,337


26,271


Total Capital Employed
Ov erdraft/(Cash)
(255)
(886)
(1,156)
Debt
5,522


6,865


3,883


Lease Liabilities
20,870


19,079


21,146


Net Debt
26,137


25,058


23,873


Equity
(5,711)
(1,721)
2,398


Summary Statement of Financial Position

Franchised Regions
Saudi Arabia has 12 cafes and has opened in a
prestigious location in the new airport terminal at the
Jeddah Airport (pictured).
Kuwait3 cafes
Bahrain5 cafes
Jordan1 cafe in Amman.
Pakistan 3 cafes in Pakistan, based in Karachi.
Portugal1 cafe in Porto
Indonesia1 cafe
Cooks has 26 cafes operated by its Master
Franchise partners in 7 countries. The strategy
is to support the existing Master Franchise
partners as they build their networks.
Official opening day at Jeddah Airport

Board
Keith Jackson
Executive
Chairman
Keith has an
extensive
background in
management and
governance with
particular
emphasis on the
food and dairy
industries.
In 2008 he
founded Cooks via
a merger of four
companies.
Mike Hutcheson
Independent Director
Mike co-founded
leading NZ
advertising agencies
Colenso BBDO,
Hutcheson Knowles
Marinkovichand was
MD of Saatchi and
Saatchi. He is an
author and award
winning columnist
and a member of the
Marketing Hall
of Fame.
Michael Ambrose
Independent Director
Michael is an
experienced
Company Director
with a broad range of
governance,
financial,, strategic &
IPO skills. He is also
the Chairman and
independent Director
of a number of
companies in the
food, finance,
hospitality and
retirement sectors.
Paul Elliott
Independent Director
Paul Elliott has
extensive experience
as CEO and CFO of
major corporates. He
has served as a
director of both
publicly-listed and
privately held
companies.
He continues to
provide corporates and
high-net-worth
individuals as
a partner in
Time Capital.
PeihuanWang
Director
Peihuan Wang is
the Chairman and
General Manager
of Shandong
Jiajiayue
Investment
Holdings Co. Ltd,
owners of 20% of
CCC. Mr Wang has
receiveda number
of awards in China
–including ‘Person
of the Year -
Chinese Retail
Industry’.
19

Management
Team
Craig Brown
Chief Financial Officer
Craig has extensive
experience in senior
financial roles providing
targeted support to
owners and managers to
help facilitate business
improvement, change or
transformation. Craig
has experience in senior
commercial leadership
roles encompassing
audit, project financial
and general
management working
with a wide range of
enterprises.
Aiden Keegan
Managing Director,
Esquires, Great Britain
Aiden has more than 20
years’ experience in the
food and beverage
industry, with
strongskills in
franchisee and
supplierrelationship as
well asoptimisationof
operational systems.
Aiden has been with
Esquiresfor more than
14 years and was
Operations Manager in
Ireland before taking up
his current role.
Tony McVerry
Managing Director,
Esquires, Ireland
Tony is the former master
franchise holder in Ireland.
He grew the Irish Esquires
Coffee franchise business
from a standing start in
2000 to a total of five
stores before selling the
master franchise to Cooks
Coffee Company in 2013.
Prior to that Tony had a
long career in banking.
Starting with the Bank of
Ireland in 1972, he then
moved to First Active Bank
in a variety of senior roles.
David Hodgetts
Managing Director –
Triple Two Coffee
David is the co-
Founder of Triple Two
Coffee, which was
started in 2015. He
has been responsible
for building the
business to where it is
today regarded as one
of the fastest-growing
café brands in the UK.
Triple Twowas
recognisedby IGD in
2021 as one of the
“rising stars” of the UK
Coffee Industry.
20

VSA Capital London
Park House, 16-18 Finsbury Circus
London, EC2M 7EB
United Kingdom
t +44 (0)20 3005 5000
email@vsacapital.com
Disclaimer: In order to participate in the fundraise of the
Company via your broker or VSA Capital you will need to
be a Qualified Investor in accordance with the FCA Rules.
Contact Us

Disclaimer
This Teaser is being issued by Cooks
Coffee CompanyLimited (the
"Company") for information purposes
only. No reliance may be placed for any
purpose whatsoever on the information
contained and the completeness or
accuracy of such information.
No representation or warranty, express
or implied, is given by or on behalf of the
Company, VSA Capital Limited or their
respective shareholders, directors,
officers or employees or any other
person as to the accuracy or
completeness of the information or
opinions contained in the document, and
no liability is accepted for any such
information or opinions (including in the
case of negligence, but excluding any
liability for fraud).
This document has not been approved
by a person authorisedunder the
Financial Services and Markets Act 2000
(“FSMA”) for the purposes of section 21
FSMA. In the United Kingdom, this
document is exempt from the general
restriction in section 21 of the FSMA on
the communication of invitations or
inducements to engage in investment
activity pursuant to the Financial
Services and Markets Act 2000
(Financial Promotion) Order 2005, as
amended (the "Financial Promotion
Order") on the grounds that it is directed
only at the following, being persons who
the Company reasonably believes to be:
a) persons having professional
experience relating to investments (being
"Investment Professionals" within the
meaning of article 19(5) of the Financial
Promotion Order), b) persons who fall
within article 49 of the Financial
Promotion Order (high net worth
companies, unincorporated associations
or partnerships or the trustees of high
value trusts) and any other persons who
fall within other applicable exemptions
under the Financial Promotions Order, or
c) other persons who have professional
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(all such persons together being referred
to as "Relevant Persons"). Any
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Contact Details:
cookscoffee@investor-focus.co.uk