Flat Cap – Business Plan

[Audio] August 2023. August 2023.

[Audio] In five years, Flat Cap Hotels will flourish into a collection of 12 distinct properties, all united by our core principle: being the heart of each community we serve. From coffee to meals, accommodations for various occasions, and a supportive presence during both celebrations and more solemn times, we'll continue to embody comprehensive hospitality within the communities we call home. Flat Cap Today We are a privately-owned group nestled in Cheshire, North West, with a collection of three distinct heritage properties. Our team of dedicated food enthusiasts, skilled chefs, baristas, and mixologists share a common passion for showcasing locally sourced produce. This passion comes to life in our splendid heritage venues, where guests can enjoy exquisite dishes and luxurious accommodations, blending tradition with contemporary comfort. Flat Cap in 5 The Future of Flat Cap At Flat Cap Hotels, our vision reaches far beyond the present horizon. We are committed to crafting a diverse portfolio of establishments that spans the UK. With meticulous precision, we select each location to harmonize seamlessly with our brand's values and unique essence. Our goal is to extend our heartfelt hospitality and community-centric approach to new corners of the country, becoming an integral part of every neighborhood we enter..

[Audio] Concertedly Collaborative Crafting resonant experiences through unity, our Flat Cap family collaborates passionately, each member a vital curator. Cosy & Dapper "More than stays, our spaces offer refined coziness, setting the stage for cherished memories. Uniquely Innovative Fusing tradition with fresh concepts, we redefine through innovation, promising delightful surprises. Our Essence, Encapsulated By Six Guiding Principles* Wholeheartedly Passionate From dishes to services, our authenticity forms connections driven by unwavering passion. Distinctively Different Boldly reimagining spaces, flavors, and moments, we create sincere, unexpected encounters. Honest To Goodness People With heartfelt sincerity, we foster genuine bonds, prioritizing interactions over transactions. Our devotion drives authentic connections, from dishes to services. We're not just part of the communities we reside in; we actively embed and support each area. From being a presence in every Parish to creating business support groups for local high street businesses, we go above and beyond. We create and organise events with local independent traders, from dog yoga to pottery classes and makeup masterclasses, showcase their offerings and embody our commitment to community growth and vibrancy. Community Driven The "Community Kitchen" The Community Kitchen is an innovative initiative that provides a platform for emerging local food vendors, granting them access to our professional kitchens to showcase their creations. By supporting these entrepreneurs, we not only alleviate marketing challenges but also foster a strong sense of community as guests come together to savor diverse cuisines and celebrate Cheshire's culinary talent. This has not only driven business exposure but has also created a hub of unity and unforgettable dining experiences, making the Community Kitchen a cornerstone of our commitment to local empowerment and exceptional hospitality. *"Robert Bean Branding" is completing a full review of branding proposition in Summer 2023.

[Audio] Our Journey. ()ur.Jouurney 2015 vr, OLDE VICARAGE The Birth of Flat Cap Hotels; The derelict property had been closed for 5 years. The Hepvood's embarked on an extensive refurbishment. 2016 The Restaurant & Bar open to roaring trade as an all-day dining. lifestyle concept that the area had not seen before. IVO INTERIOR S'IM,E IS BORN The bedrooms open, each with a quirky individual style that formed the basis of our room design today. 2017 Till'. srss10N 110t •sr Flat Cap Hotels acquire the former Crown Court in Knutsford and achieve full planning for change of use and a 40-bedroom extension to the rear TIIE cot •sr. Barristers Restaurant & Bar opens. while The Court Room holds it's first weddings and events. 2018 '"11', cot • SE The stunning bedrooms open in the upstairs wings of the building. The rooms trade their socks off from day one. BRIDGE Flat Cap Hotels completes the acquisition of The Bridge in Prestbury. Refurbishment Of the Restaurant & Bar and 6 suites in the listed building begins..

[Audio] COMMUNITY Our venues become the key-stones of their communities hosting neighborhood events & local business support groups.

[Audio] A former 16th Century coachin inn & Vicarage in the heart of the Cheshire countryside. Located on the Knutsford Road A50 and only 1 mile from the M6, Manchester, Chester & Liverpool are all within 30 miles. Embracing our commitment to preserving heritage, Flat Cap embarked on an extensive journey of restoration, breathing new life into this Grade II listed property. The planned development includes the refurbishment of The Mill House, improving the visibility of the frontage and outdoor spaces, and creating an open kitchen putting our food offering to the forefront. Bedrooms Additional Suites Restaurant Covers Private Event Spaces Total Event Spaces 23 9 120 3 100 With a very attractive setting with gardens and grounds and the River Bollin, in the heart of Prestbury; a chocolate-box village and a very affluent location. Prestbury is well connected located approximately 3 miles from Macclesfield town, 5 miles from Alderley Edge and 6 miles from Wilmslow and 8 miles south of Manchester Airport and 20 miles from Manchester. 30 miles from Liverpool & Chester. Flat Cap completed a restoration to the property and the grounds to 4* lifestyle brand standards. The future plans include upgrading the vintage rooms, creating an open kitchen increasing the internal covers and adding resident terraces to our premium bedroom stock. Bedrooms Additional Rooms Restaurant Covers Rooftop Garden Covers Total Event Spaces 9 10 90 100 280 The Courthouse is a former crown court located in Knutsford. Knutsford is a cobbled market town with strong tourism demand drivers for commercial and retail offerings. 5 minutes from M6 Junction 19 and M56 junction 7. Flat Cap completed a full change of use and planning application from B1 to C1 Hotel use, providing wedding, conference & banqueting facilities with a restaurant and bar and luxury bedrooms in line with 4* lifestyle brand standards. Flat Cap has obtained planning consent to deliver a 32 bedrooms extension at the rear of the property, a unique Rooftop Terrace and 8 bedrooms converting the former cells. Bedrooms Restaurant Covers Rooftop Garden Covers Private Event Spaces Total Event Spaces 25 120 80 2 140 Our Estate.

[Audio] Couples 57.1% Corporates 16.3% Groups Of Friends 11.2% Alone 10.2% Couples With Kids 5.1% Director/Manager 15% Professional Index 14.8% Self Employed 14.4% Office Worker 14.3% Retired Index 14.3% Looking After Home 13.8% Retail Worker 13.4% Six Plus 31% Three - Five 30% Once 22% Twice 17% Who are our guests? Type Of Visitors Employment Type Age & Gender Number of Visits Acorn Profiling Individuals who have a taste for opulence,comfort, and an indulgent ambiance, all while keeping a keen eye on their budget.Our thoughtfully designed bedroomaccommodations and meticulously curated spaces perfectly align with theirlonging for affordable luxury and refinedexperiences. Affordable Luxury Seekers Our esteemed neighbours, residing just a stone's throw away from our properties, who enthusiastically champion our restaurants and spaces. They whole heartedly embrace our mission to breathe new life into historic landmarks, fostering a strong sense of community pride and creating inviting spaces that become the heart of local gatherings. Local Champions Locals and traveler's alike who are drawn to vibrant hubs that bridge communities. They appreciate our mission of transforming historical sites into thriving centre's that foster local engagement and cross-cultural interaction. Community Connectors What do our guests look like ?.

[Audio] How do we reach our guest? Website New V Returning Customers Average monthly visitors to website 46,500 Average new users to website each month 16,067 Social Average number of people reached each month 311,065 Average impressions per month 1,073,771 20,165 Number of clicks to website per month Followers across all platforms 23,450 Email Marketing Total subscribers 71,628 Average emails sent a month 387,187 New 74% Returning 26% Open Rate 30.61% Click Through Rate 1.1% The Flat Cap Club Introducing the Flat Cap Club, our loyalty CRM. We'll profile guests, capturing spending across dining, events & rooms. With data-driven marketing, we optimize resources, strategically invest, and enhance returns. May June July August September October November December 10,000 7,500 5,000 2,500 0 Loyalty Club Subscribers Current Position Forecasted Year End Position Comprehensive Profiling: The Flat Cap Club's loyalty CRM ensures a detailed profile of each guest, enabling a deep understanding of their preferences and behaviors. 360° Spending Insights: By capturing spending habits across restaurants, events, and accommodations, we gain valuable insights into guest preferences and revenue streams. Data-Driven Optimization: Utilizing data-driven marketing empowers us to allocate resources more effectively, make informed strategic decisions, and maximize profitability. Strategic Investment: The integration allows us to invest strategically, focusing on areas with the highest potential for returns, enhancing overall business performance. Personalized Experience: This initiative takes us closer to providing personalized and gratifying experiences for guests, enriching their interaction with our brand. The benefits of this system are: 1. 2. 3. 4. 5..

[Audio] Our Market Position Marketing undergoes a transformative shift. Emergence of "Mullet Travel," fusing business and leisure trips. The surge in "Adventure Tourism" experiences. Travel driven by purpose, as individuals seek uniqueness and significance for richer narratives. Demand for Fixed Price Flyers to provide cost clarity for trips. Anticipated reduction in industry-wide menu offerings. Rise in technology for labor reduction. Return to fundamental comforts as people gravitate towards local experiences amid global uncertainties. What's changing in the industry in 2023?.

[Audio] Affordable Luxury LUXURY UPPER UPSCALE UPSCALE UPPER MIDSCALE MIDSCALE ECONOMY AFFORDABLE LUXURY By establishing our identity as "affordable luxury," we will position ourselves to gain a competitive advantage by appealing to a broader range of customers. This strategy enhances the perceived value of our offerings, ultimately leading to increased revenue potential. £50 - £100 £80 - £120 £120 - £200 £200 - £300 £300 - £400 £400+.

[Audio] Food & Drink Analysis What do our customers drink ? What do our customers eat ? Our top selling beer for 3 years was Moretti Our top selling Wine by the glass for 3 years was Prosecco Our top selling Spirit or 3 years was Gin Our legendary burger is our top selling main for 3 years in a row Starter revenue has grown year on year tripling in revenue from 2021 - 2022 Our most popular offer in 2023 is Happy Hour December Covers Over Time On average our wines reach a 81% GP Flat Cap Champions Empower a central Flat Cap champions team to ensure consistent and scalable training across our expanding portfolio. Tomorrow Flat Cap Academy Revolutionize role development with the integration of Flat Cap Academy. This comprehensive initiative combines onboarding, initial growth, and personalized learning cycles. Flat Cap Fast Track Identify and nurture "rising stars" through the Flat Cap Fast Track program, paving clear advancement paths for Management and Technical roles crucial to our business expansion. Curating managers of the future. Market Leader Recognition Solidify our leadership stance by actively participating in awards such as Employers' Choice and Investors in People, reinforcing our position in the hospitality sector. Seamless Learning Management Introduce the Flow LMS management system for a seamless onboarding journey. From Health and Safety protocols to soft skills training, the process will be streamlined and effective. Transform hospitality's negative image by showcasing its growth, creativity, and satisfaction potential. Through enriching experiences, development, and a supportive community, we're making it an appealing career choice.e, 2019 2020 2021 2022 Main s 72% Starter s 18% Dessert s 10% Beer 32.1 % Wine 30.4 % Softs 13.7 % Spirit s 9.9% Cocktail s 7.8% Sparkling Wine 6% Is how much Champagne sales have gone up on average YoY since 2021 £60k.

[Audio] Once 85.6% Twice 8.6% Three-Five 3.9% 54% Rooms Analysis We have 50 guests that have stayed over 20 times and 3 guests that have stayed over 50 times since January 2021 Our most popular room package is the Sunday Supper Club Our most in demand product for leisure guests is the Flat Cap Finest room category Our most sold add on item is a bottle of Prosecco, followed by early check in 9% of our guests bring their four legged friend with them! How many times do our guests stay How much of our business is direct Average corproate rate £94.50 Average length of stay 1.3 days Consistency Of Product A seamless supply of well-maintained rooms will be the foundation, ensuring guests enjoy reliability and comfort. Enhanced Room Offerings Expanding beyond just accommodations, hotels will present curated retail opportunities, including minibars with artisanal delights and lifestyle products that align with guests' tastes. Optimized Customer Journey From efficient room turnovers and strategic upselling to ambient evening lighting and personalized turndown services, every aspect of the guest's journey will be meticulously designed for satisfaction. Retail of Lifestyle Products Hotels will venture into retail, offering lifestyle products that echo the hotel's ethos, allowing guests to take a piece of their experience home. Tomorrow Increased Dwell Time Through increased activities, packages and partnerships with local brands such as golfing breaks and spa partnerships we will increase dwell time within the properties. Average leisure rate £114.50.

[Audio] Weddings 52.8% Social 38.1% Corporate 9.1% April May June July August September October November December January February March April May June July August 125,000 100,000 75,000 50,000 25,000 0 Embracing Diversity Diversity takes center stage as we expand to embrace various cultural audiences. Our events will fuse traditions, music, and cuisines to create inclusive celebrations that honor the richness of global heritage. Tomorrow Solidifying B2B Partnerships: Our growth hinges on forging strong business-to-business relationships. Collaborations with like-minded vendors will ensure seamless, top-tier services, establishing us as industry pioneers. Ticketed Events by Flat Cap Expect a wide range of ticketed events, from music festivals to dog yoga, offering captivating and immersive entertainment experiences. Tailored Experiences Our future lies in crafting unique, personalized experiences through improved packages. Each event will be a reflection of individual dreams, exceeding expectations and leaving lasting memories. Events Analysis Our most sold wedding is an intimate wedding for under 30 people Corporate business has grown 36% across the group 2022 - 2023 The average wedding is worth £12,462 across the group. The most sold add on for an event is our outdoor shed bar at The Bridge, followed by the "Brides MakeUp" upsell Enquiries across the group have grown by 185% since August 2022 Our most popular social event is birthday parties How is our event business split ? Business Growth: Converted Revenue Per Month Average sales confirmed per month £86.5k.

[Audio] Environment Analysis What do our guests say ? Why do our guests visit ? Further Exposure By actively increasing our involvement in the local food event and festival scene. Through participation in well-known food festivals, our goal is to introduce our distinctive ambiance to a broader demographic. This enhanced visibility will entice attendees to experience our product, brand and subsequently frequent the properties Tomorrow Open Culinary Experiences The heart of our growth strategy lies in revolutionizing our culinary offerings. We envision an open-kitchen concept that extends to our Rooftop dining area, allowing guests to witness the culinary magic firsthand. The concept of 'Chef to Table' will further elevate our culinary experience, breaking down the traditional barrier between Back of House (BOH) and Front of House (FOH). What do our ticketed events look like ?.

[Audio] Analysis Service & People Gender Pay Gap (Mean) 1% Applicants per month 1064 Average Age of workforce 30 Average length of service 640 days Applicants per hire 39 to 1 Said their good performance is recognised 52% Said talking to their line manager helps them improve their performance 54% Said the organisation respects indidivudal differences 73% Flat Cap Champions Empower a central Flat Cap champions team to ensure consistent and scalable training across our expanding portfolio. Tomorrow Flat Cap Academy Revolutionize role development with the integration of Flat Cap Academy. This comprehensive initiative combines onboarding, initial growth, and personalized learning cycles. Flat Cap Fast Track Identify and nurture "rising stars" through the Flat Cap Fast Track program, paving clear advancement paths for Management and Technical roles crucial to our business expansion. Curating managers of the future. Market Leader Recognition Solidify our leadership stance by actively participating in awards such as Employers' Choice and Investors in People, reinforcing our position in the hospitality sector. Seamless Learning Management Introduce the Flow LMS management system for a seamless onboarding journey. From Health and Safety protocols to soft skills training, the process will be streamlined and effective. Transform hospitality's negative image by showcasing its growth, creativity, and satisfaction potential. Through enriching experiences, development, and a supportive community, we're making it an appealing career choice.e, (Benchmark is 9%) 1994 Oldest contract start date 105 Combined years service between 6 staff.

[Audio] Sustainability At Flat Cap Hotels, sustainability means integrating into all of the community's we operate within and ensuring we operate in a way that best supports the future Too Good To Go This collaboration reduces food waste by connecting us with individuals who appreciate our culinary offerings while promoting responsible consumption. By integrating "Too Good To Go," we're not only enhancing our commitment to locally sourced ingredients but also actively reducing our environmental footprint Local Produce using local products supports a more sustainable and resilient food system by reducing environmental impact, promoting economic growth, preserving biodiversity, and fostering community connections. It's a practice that benefits both people and the planet in numerous ways. The Christies Charity In 2022 alone we raised over £18,000.00 from charitable donations for The Christies charitable fund based in South Manchester Recyclable Waste Oil All of our frying oil is 100% recycled with our supplier furthering our commitment to not leave behind waste products for the next generation. MSC Approved Seafood At Flat Cap Hotels, we are committed to sustainability by partnering with the Marine Stewardship Council (MSC) to ensure responsible seafood sourcing. By obtaining MSC-certified seafood, we support healthy marine ecosystems and safeguard seafood for future generations..

[Audio] We plan on lifting the drive-by aesthetics to enhance the customer journey from the moment someone enters the property. A new tarmac car park while increasing the available parking will elevate the space, while rendering the frontage, a new child's play area, and a relocation of the outdoor dining space willstand the venue apart from the competition. Frontage & Gardens Improved circulation will increase the restaurant covers making the library a more dynamic space. This will also open the kitchen to create a more theatrical dining experience breaking down the barrier between front & back of house. New flooring and a light refurb to the public space will give the feeling of a fresh uplift throughout. Restaurant, Bar & Kitchen An uplift to the 20 annex room bathrooms will elevate the product to the brand standards. AC will provide a better customer experience, while relocating reception will mean the customer journey is un-interrupted, linking the outdoor space, kitchen and restaurant seamlessly. Adding 5 suites in the main building and a further 5 in the Mill House will push the quality of available stock even further inline with demand. Bedrooms Removing the current public facilities, & columns, and adding a concertina door between the Library & Garden Room will create a new dynamic restaurant & event space – increasing covers and making the area more desirable. Library & Garden Room The former staff accommodation house adjacent to the property would convert into stunning hotel rooms & long-stay lodging accommodation with a kitchenette. Parking spaces will be added to the garden space with electric vehicle charging under a shared revenue scheme. The Mill House Knutsford Rd, Cheshire Cranage, CW4 8EF Rooms +9 (32) ADR Increase +£20 (£120) Covers +20 (140) Outdoor Covers +20 (100) Function Covers +20 (120) (Factilities Post Capex).

[Audio] Rooms +10 (27) ADR Increase +£30 (£140) Covers +120 (220) Outdoor Covers +120 (140) The Grade II listed frontage has an austere beauty that could be softened to make it more sympathetic to a hospitality venue with decking and extended seating. A bold fixed awning would be notable to passing traffic and increase footfall. Frontage & Gardens Our current stock of 9 bedrooms will be well contributed by 2 additional suites in the North Wing in our 'Superior' category, alongside the conversion of the cells into 8 new bedrooms under a new thematic category named 'The Cells'. This industrial yet comfortable style will be a very experiential stay to match the prestige of the building. Bedrooms Unique to the Courthouse, a Rooftop Garden will be installed on the flat roof space above the cells with a fully weather protected retractable canopy. This self-contained space will have a bar and open kitchen to be able to trade independently than the other elements of the building. A major USP to the local area with the nearest rooftop space being in Manchester. Rooftop Currently the subterranean space houses a stunning vaulted ceiling which will become the main public loos for the & Restaurant spaces. The Event spaces will be serviced from the Moneypenny loos, while a development kitchen will be added to the storage space to service the event spaces but also act as a training kitchen & for product development for the group. Vaulted Ceiling With the increase in requests for private dining and smaller event spaces, we have a requirement for The Turing Room - a smaller meeting room space with a decadent ceiling and stunning lighting that can hold up to 24 persons. The Turing Suite Toft Rd, Cheshire Knutsford, WA16 0PB Function Covers +24 (250) (Factilities Post Capex).

[Audio] Rooms +1 (27) ADR Increase +£20 (£120) Covers +40 (140) Outdoor Covers +20 (120) The rolling out of brand standards across the annex bedrooms will have the greatest impact on the bedroom rates across our assets increasing the ADR & incremental spends greatly. This would create parity with the wider design and décor of the rest of the building including important wifi and AC upgrades which appears to be the largest detractors currently. Bedrooms The removal of the kitchen wall would create a theatrical open kitchen to enhance the dining experience with a chefs table and a new in impeded route to the garden terrace. Covers would increase by 40 covers and the circulation of people would be gratefully enhanced. Restaurant, Bar & Kitchen The outdoor space is a huge asset at the Bridge which would benefit greatly from a retractable cover over the top outdoor terrace to increase the flexibility of the space. The flat roof spaces would form new resident gardens increasing the room rates substantially, while the far side of the river would be modelled into a usable public facility. Garden & Rooftop Garden The event spaces would have minor facelift to bring them into brand standards with an improvement on AV facilities, furniture and décor. A new porch would enhance the customer journey and a concertina door to the Riverside terrace would elevate the functionality of the space. Riverside & Bollin Room The Village, Cheshire Prestbury, SK10 4DQ Function Covers +120 (250) (Factilities Post Capex).

[Audio] Sustainable Growth Through Knowledge Equity & Scalable Platforms Our People The Team A seasoned Leadership Team possesses extensive industry knowledge and long-standing experience. Our robust processes and integrated systems have been strategically designed for seamless scalability. The Flat Cap Leadership Team comprises accomplished executives from hospitality-centric enterprises, driven by a disciplined approach to achieving profitable expansion and sustained growth. The Heywoods Bright Idea Being third-generation hoteliers, the founding brothers have hospitality ingrained in their very being, having grown up and lived within the hotel environment. Given their deep-rooted connection to the industry, it's only natural that the essence of hospitality flows through their veins. A seasoned professional with a wealth of expertise in management and operations. With a focus on multi-assets throughout the UK, Dominic has excelled in overseeing privately owned and operated hotels, restaurants, and pubs. His track record shines through in his ability to transform derelict sites into thriving operations, implementing efficient structures and driving impressive business growth. Meet Dominic - Founder/Director An accomplished operations and business development specialist. With a rich background that includes roles at renowned establishments such as The May Fair, Radisson Blu Edwardian, and Saville & Cushion Wakefield, Oliver has honed his skills in the hospitality industry. His expertise extends to hotel investment, covering both the UK and continental Europe. Oliver's adeptness lies in crafting operational excellence and driving business growth. Meet Oliver - Founder/Director The concept of Flat Cap Hotels was born when the brothers identified a gap in the market across the North West. They envisioned a boutique offering that marries the charm of rural locations with exceptional culinary experiences. Drawing inspiration from the success of thriving pub brands in places like the Cotswolds and London, they were motivated by the transformative influence these brands exerted on the sector. This inspiration led them to embark on their journey to create their own distinct brand, each pocket of the country, north of the M25, becoming a canvas for their vision. Our dedicated Financial Controller, Michelle's journey through the finance realm began at The Hut Group, where she garnered extensive accounting expertise across transactional and management accounting domains. A proud Chartered Global Management Accountant, Michelle has demonstrated her financial prowess in various industries including Online Retail, Luxury Hotels, Private Members Clubs, and Spa management. Meet Michelle - Financial Director A seasoned professional who brings a wealth of experience to the table. With a background that spans Ballyclare Group and New World Trading Company. Her specialties include Talent Acquisition, Learning and Development, and process implementation. Tara's qualifications are equally impressive, holding a Level 7 CIPD certification and an MSC in HR and Development. Meet Tara - Head of People.

[Audio] A seasoned professional in the realm of Food and Beverage Management. With a remarkable background that boasts successful tenures at distinguished venues like Hale Country Club and King Street Townhouse for The Hut Group and The Corinthia Hotel, Gabor is no stranger to high-profile operations. Gabor's commitment to elevating every aspect of the dining experience and his knack for effective team leadership make him an invaluable addition to any establishment. Meet Gabor - Regional Group Manager A devoted individual with a profound passion for cultivating individual and organizational growth. With over 6 years of experience in Flat Cap Hotels alone, Rachel has consistently demonstrated her commitment to creating dynamic and impactful learning environments that empower teams to excel and deliver the highest levels of service. Meet Rachel - L&D Director The driving force behind Flat Cap Archie's sales and marketing success is Archie himself. With a solid analytical background, he crafts ingenious strategies that consistently exceed targets. His innovative approach leads to campaigns that deeply resonate with audiences, leaving an unforgettable impression. Archie's fusion of analysis and creativity sets him apart, making him a driving factor in the company's triumphs. Meet Archie - Sales & Marketing Director Meet David - Chairman Of The Board A dynamic individual whose professional journey spans a range of diverse roles and accomplishments. As a Co-Founder and Non-Executive Director (NED) at The Parogon Group, NED at Sleeperz hotels, and Trustee at Carefree, David's involvement in varied ventures is noteworthy. Drawing from a rich history, David's earlier experiences include prominent names such as Pilkington Glass, Mars, Premier Foods, and M&B. In May 2007, David embarked on an entrepreneurial journey, co-founding Parogon Group a thriving venture with a £25 million turnover—alongside three school friends. His leadership journey also led him to take on the role of CEO at Sleeperz, an affordable luxury hotel group. Under his guidance, Sleeperz achieved significant milestones, including a successful sale in May 2022, which marked the start of his role as a NED. David's educational background, including a BSC in Economics, DipM, and MBA, speaks to his commitment to continuous growth and learning. His diverse skill set and remarkable accomplishments position him as a visionary leader and a valuable asset to any organization. Sustainable Growth Through Knowledge Equity & Scalable Platforms The Team.

[Audio] Current Organisation Structure Direct Reports – Operations Director; Service Director; Head of People; Organising operations, new openings & ensuring deliver of service; Championing product – innovation, development and deployment; Curating the culture – training, development, succession planning & colleague engagement; Dominic Heywood Direct Reports – Sales & Marketing; Financial Director; Property Manager; New Site transactions – finding, identifying, negotiating & transactions; Market evaluation & positioning; Funding relationships – Valuations, financial modelling, market positioning; Oliver Heywood.

[Audio] Future Organisation Structure Operations Director; focus on innovation of product, delivery and Flat Cap Champions - central team covering new openings and site workforce deficits; Property & Facilities Manager; IT & Systems Executive; Future Placements to support our growth.

[Audio] Opportunity – the site criteria; number of rooms, restaurant covers, event space size, outdoor space, etc.. Chimney-Pots – the strength of the locality; footfall, residential density, median household income, per capita income, etc.. Churches – the flexibility of local spires; locality, usage, size, etc.. Connectivity – the site accessibility; vicinity to major transport links, motorways, airports, etc.. Community – the site locality; access to amenities, tourist attractions, hotels in the area, etc.. Conjecture – the gut feel of the management team for the site. Flat Cap has cemented itself in the heart of the 'Golden Triangle' in Cheshire in the centre of the 3 key points; Manchester, Liverpool and Chester. Cheshire is surrounded by affluent market towns, quaint villages and the leafy Cheshire countryside, which has allowed us to develop the Flat Cap product to the environment. We are plan on actively expanding the portfolio across Cheshire & the North West. Although, Flat Cap already owns some of Cheshire's finest venues that meet our opportunity criteria, and due to the locations desirability the county has a limited number of potential assets. We have therefore looked at alternate counties that are well known to the founders, and share the same indicators. Gloucestershire, Oxfordshire and Wiltshire exists within it's own triangle between Oxford, Bristol & Cheltenham. The area has fantastic opportunities due to the strong connectivity to London and the North, a large amount of owner-operator venues that have been in families for a number of years, under-investment in quality bedroom stock, & a lack of product development & innovation. Target Site Criteria Our scoring matrix focus' on 6 main criteria; Scores are out of 200. Residential homes, a highstreet and footfall; Corporate business: nearby business parks; Business Mix: 30% Corporate, 70% leisure; Key demand drivers for local economy as focus on community engagement; Existing trading sites that can be repositioned; Freehold Tenure; Bedrooms: 20+ all ensuite bathrooms. Category mix: Standards to Suites; Restaurant & Bar: 100-150 covers; Reception/Open Lobby/Snugs/Lounge areas; PDR, event & breakout spaces; Outdoor Terraces operational throughout the year. Selection of Key Criteria: Facilities/Revenue Streams: Sustainable Growth SITES RATED 5 - "THE DIRTY DOZEN" SITE NAME MATRIX SCORE The New Inn Lechlade, Lechlade-on-Thames, Gloucestershire 170 The Kings Arms, Bicester, Oxfordshire 164 Deddington Arms Hotel, Deddington, Oxfordshire 163 The George - Wallingford, Wallingford, Oxfordshire 163 Northwick Arms, Evesham, Worcestershire 161 The Pied Bull, Chester, Cheshire 160 The White Hart, Dorchester-on-Thames, Oxfordshire 160 The Old Crown, Farringdon, Oxfordshire 153 The Ormond, Tetbury, Gloucestershire 150 Redesdale Arms Hotel, Moreton-in-Marsh, Gloucestershire 149 The Golden Pheasant, Burford, Oxfordshire 147 The Bear Hotel, Wantage, Oxfordshire 145.

[Audio] 2024 2025 2026 2027 15 10 5 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 15 10 5 0 Acquisition Year Target Asset 2023 The White Hart, Dorchester-on-Thames, Oxfordshire Deddington Arms Hotel, Deddington, Oxfordshire 2024 The New Inn Lechlade, Lechlade-on-Thames, Gloucestershire 2024 The Ormond Gloucestershire 2024 + The Kings Arms, Bicester, Oxfordshire The George - Wallingford, Wallingford, Oxfordshire Northwick Arms, Evesham, Worcestershire The Pied Bull, Chester, Cheshire The Old Crown, Farringdon, Oxfordshire The Ormond, Tetbury, Gloucestershire Redesdale Arms Hotel, Moreton-in-Marsh, Gloucestershire The Golden Pheasant, Burford, Oxfordshire The Bear Hotel, Wantage, Oxfordshire Graph showing timeline of the site openings; Graph showing timeline of the site acquisitions; Flat Cap has the opportunity to acquire 2 assets immediately to add to the portfolio in 2023; The White Hart (Dorchester-on-Thames) and The Deddington Arms (Deddington). These assets score highly in our criteria matrix and sit in locations that we have similarities to the Cheshire market our product thrives in. These are 2 assets that the owner of 30+ years is readily looking to move on (private sale) so there would be no delays approaching the operator. With 2 asset transactions in the portfolio, this will allow us to approach more discerning operators to complete on their transactions, such as the New Inn (Lechlade) in Q1 2024. With anticipate 3 – 4 month refurbishment periods subject to the upkeep of each asset which means the opening of 3 assets per annum. Sustainable Growth 3 6 9 12 1 - The Vicarage 2 - The Courthouse 2 3 - The Bridge COVID Plateau 5 7 9 12 15.

[Audio] New Pipeline Opportunities The White Hart (WH) & The Deddington Arms Hotel (DA) Both assets are owned by a private individual who has a small group trading under the name Oxfordshire Hotels LTD. He has disposed of 1 of his 4 assets and is now looking to sell the remaining 3. FCH & Piper have visited the assets and 2 have the requisite facilities that match our criteria. The trading performance of both assets are following a similar downward trend of Revenue & Ebitda due to under investment into the assets and a weak management team. The Ormond (TO) A Grade II listed hotel in the heart of the Cotswolds, Tetbury, a sort-after location with high tourist footfall and equally a sizeable corporate footprint. The asset has 17 bedrooms, a restaurant, a bar, and a courtyard garden. The asset has been under an owner-operator since 2005 and is now being marketed privately under NDA with Colliers. It is a high street venue with a limited utilisation of the food & beverage spaces relying on the bedroom trade which has a consistent occupancy..

Financials.

[Audio] Exit Buyers are likely to fall into the following categories Pub Group Buyers Key Drivers Significant food led incremental sales and EBITDA compliments strategy of many pub groups moving towards food led offerings with rooms Ability to convert existing estate to Hickorys brand and benefit from uplift Opportunity to convert pubs into a new product Roll out of Flat Cap Brand Key Issues Size and location of the estate a nd fit with portfolio & existing brands Speed of roll-out potential as well as capability of team to do so Complexity of product offering Private Equity Buyers Key Drivers Clear growth story - roll out strategy can be continued Strong leadership team Flat Cap's financial performance & ROI Key Issues Ability to grow estate Can pipeline of sites be rolled out effectively Consistency of performance across estate - consitent average Capital requirements & ROI Must haves A clearly defined & different proposition that fulfills guests needs Proven rollout model with evidence of systems & people in place Developed pipeline with sites & systems lined up Long term growth strategy to triple estate for next buyer Enlarged management team for next phase of growth Sites outside of North West evidence the concept works Drivers of value More sites = more EBITDA = more interest from larger buyers Proof that model works in different regions Consistency of product, service & environment Strong leadership Continued popularity of concept & model Areas to consider Speed of roll out, can it be expedited ? Property strategy - would leaseholds work ? Are there additional target regions ? Could the model work without event spaces ? Exit Planning.

[Audio] Current geographical focus of the most active investors in rooms Number of sites by region & Wales South West North East South East Midlands North West London Yorkshire and 15 South of England RedCat is the closest to a national operator with a 10 Inn Collection Liberat ion RedCat Y oungs 2% 71% 27% Li berat i on 2% 47% 33% Fuller's 30% 15% 55% Y oung' s 52% Inn Collection 25% 34% RedCat 22 56 49 37 Fullers North East North West 18% Midlands and Wales South West 48% South East London 19% 22% Geographical focus by operator ◼ ◼ Inn Collection is focused on the North of England presence in all regions other than the North West Liberation, Fuller's and Young's are focused on the ◼ Exit - The Buyers.

Appendix.

[Audio] Customer Profiling & Remarketing Revenue Management System Improved Processes Learning Management System Group Operational Role Our 2023 Focus SALES & MARKETING REVENUE Brand Identity Direct Booking Strategy Enhanced benefits & offers OPERATIONS FINANCE PEOPLE COMO Loyalty platform Customer Acquisition Tracking Direct visibility over customer engagement and conversions digitally Corporate Business Manager New role to strengthen & develop revenue in the corporate business market segment Installation of Duetto Access To New Distribution Channels Better stock means wider exposure (Mr&Mrs Smith etc..) Product Improvement Refurbish rooms for a better customer experience for our lifestyle product Direct Booking Strategy Enhanced benefits & offers Group General Manager appointed with a focus on product & service New EPOS Tevalis installation to improve the customer experience and improve reporting Community Involvement Creation of community kitchen, partnerships with local business, embedment within local community Launch Of New Facilities Open Kitchens, Rooftop restaurant, resident gardens, & Flat Cap pop-ups Profitable Practices Making full use of our Procure Wizard purchasing platform Insightful Reporting Providing timely & insightful reporting Implementation of Sage Intact Expansion Modelling Introduce rolling reforecasting process & budget models to support growth Fundamentals Development on fundamentals - market leading rates, benefits, policies & DE&I Colleague Activation Communities Evolve the engagement strategy, with the launch of a 'house' point system connecting colleagues & our venues Home Grown Talent Flat Cap Academy, Fast Track & Apprenticeships Development and implementation of FLOW Hospitality Training New Role New System or Platform Although substantial progress has been achieved thus far, notable plans for the remainder of 2023 are poised to reinforce and solidify our standing across all departments..

[Audio] Why Flat Cap ?. Flat Cap ? I ,uxun operation Individual & design•led. yet affordable. Unique colour schemes & design emphasise each property's original & heritage features with modern touches. Appealing to a variety Of demographics, Fastest l" jspitality sector Driving top line and profitability through unique guest experiences: enhancing on the overall value proposition. GOP at ion technolo•Ä Technologically focused on the guest experience and communication making operational efficiencies to drive strong margins. Elliciencv of to aid Prioritising; people state:iies Attentive and knowledgeable service makes for excellent guest experiences. and repeat business. Succession plans ensure stabiliß Flat ( lap t •nique brand Strong brand identity distinctly differentiated to meet the market trends and needs. Brand saltie.

[Audio] The Opportunity - Growth Strategy. 'Ille ()pporiuniiy - Growth Brand er Ensure strong repeat business through loyalty programs and corporate contracts Emotional in•.æstment into the brand and growth journey •enne custonu•r cle enstllvs n•tained cust0111 ( •.luster Ser' ices Centralised support systems: Finance: Sales: Revenue: Reservations, HR & People: IT Professional perception and efficient communication Ellicient use of force. Fixed head ollice cost despite of portfolio in Group buying power and economies Of scale drive profit lines Value for money and competitively priced in the market boi1011Aine Econo')) ic ( )pport Numerous opportunities in areas with limited brand competition. Operators looking to sell and diversify post COVID Investment into a customers locality creating a fresh product in an often under invested and under-performing venue providing further options and employment opportunities Inu•st and refurbish propert ies 10 (leliu•r six;niiicalli and sustainable EBI'I'D IGr the lon•k tern' Flat ( tap Acquisit Identified Freehold Pipeline Expansion into new markets where Flat Cap brand suits demographic Roll Olli of operational nn •del.

[Audio] Scalable Platforms EXPERIENCES ACTIVITES BEDROOMS F&B POS RETAIL TICKETED EVENTS PRE-HIRE POST-HIRE GIFT VOUCHERS TRAINING ONLINE ORDER PAY AT TABLE TABLETS SALES & EVENTS CUSTOMER SERVICE CRM / LOYALTY DIRECT BOOKING ENGINE (DBM) PROCUREMENT RESTAURANT RESERVATIONS CUSTOMER FEEDBACK ACCOUNTING Sustainable Growth Through Knowledge Equity & Scalable Platforms.