ABOUT US NEWS SHAREHOLDER INFORMATION REPORTS & PRESENTATIONS CONTACT COPPA CLUB TAVOLINO Who We Are Our History Founded in 2014 by Hugh Osmond, Various Eateries plc’s stated mission is “great people delivering unique experiences through continuous innovation”. The core brands of the Group are Coppa Club and Tavolino. The Group currently operates across ten locations. The concept of Coppa Club was born after Hugh and his team purchased Strada. Their goal was to reinvigorate the sites, creating a more unique and immersive experience from a restaurant and a place customers could use more frequently, as places to socialise. Tavolino is a concept led from inception by Andy Bassadone. Andy invested in the Group in 2019 with a vision to re-define the Italian dining sector, having previously accomplished a similar objective with the French dining sector through his roll out of Côte Restaurants. Andy’s vision was for a high quality, food-focused Italian brand, at mid-market prices, utilising the profitable Strada sites within the Group as concept locations. Business Model The core brands of Various Eateries are Coppa Club and Tavolino. Coppa Club sites are generally multi-use all-day sites, combining a restaurant, café, lounge, bar and workspace under one roof (as well as bedrooms, event spaces, gym and spa facilities in certain flagship locations). The offering incorporates three formats designed to capitalise on each specific site location: Full-Service Clubhouse, Club & Brasserie or High Street Hubs. Tavolino meaning “small table” in Italian is a high quality, food focused Italian brand, at mid-market prices, using only the best ingredients from Italy and the UK. Whilst its primary format will be main restaurants in larger towns and cities, there is also an intention to create smaller pasta/pizza only sites. Growth Strategy Various Eateries is a well-funded operator, with strong and fresh brands, and an experienced management team. Both Coppa and Tavolino are immediately ready to scale up given the economic challenges facing the sector, particularly as a consequence of Covid, which has led to a significant reduction in competition. This timing, combined with management’s experience, represents an unprecedented opportunity to build a major hospitality group, post Covid. The Group will deliver value to shareholders through organic growth, advancing its plans to roll out the Coppa Club and Tavolino brands, alongside the potential acquisition of other high-quality restaurant brands. Coppa Club’s Growth Strategy There is potential demand to roll out over 50 Coppa Clubs by way of organic growth across the UK. It is management’s intention, subject to matters including market conditions, to open a number of sites across 2021 and 2022. The increased availability of sites in light of the extensive closures following Covid, coupled with a favourable rental market, gives management confidence that suitable sites will be available at reduced costs, and that limited capex would be required to make these sites fit for purpose. There are also a number of potential acquisition opportunities in the form of large country pubs which could be converted with relatively low capex to offer the full Coppa Club experience. In addition, the integration of two Coppa Club hotel acquisitions (The Great House at Sonning and The Swan at Streatley) into the Group is an important part of the Group’s overall strategy to demonstrate to other hotel groups that management’s experience of running restaurants within hotels is extremely valuable. As part of the Group’s growth strategy, management will demonstrate that this is a model that can be replicated with other hotel groups. Small groups of independent hotels with reasonable room business but no distinct food and beverage offering will need to distinguish themselves in this changing market and there is opportunity for an operator with a proven track record and a quality brand to elevate their offer. The Group will assess opportunities as they arise. Tavolino’s Growth Strategy There is potential for over 100 Tavolino sites in the United Kingdom across both the restaurants or pasta/pizza only concepts. During 2021, Various Eateries plans, subject to matters including market conditions, to convert the two remaining Strada sites held within the Group at St. Katharine Docks and Southbank into Tavolino sites and expects to record significant uplift in the revenue historically being generated by these sites as a consequence. It also intends to open a further fourth site in the same period. During 2022, the Group intend to open a number of further new sites. At the same time, there is the potential for a successful roll out of the smaller format Tavolino sites. Management’s current growth plan for this part of the Tavolino strategy is, subject to matters including market conditions, to open two smaller format sites during 2021 and three sites during 2022.