2015 UPDATED 3Q15 CORPORATE PRESENTATION 2015-11-27 REVISION - PowerPoint PPT Presentation

2015 UPDATED 3Q15 CORPORATE PRESENTATION 2015-11-27 REVISION

BUSINESS SCALE MODEL PILLARS PEOPLE 2Q15 ONE OF THE Includes Grupo El Corral LARGEST FOOD 44.726 12.677 COMPANIES IN 35 AMERICA % EMPLOYEES OUTSIDE COLOMBIA MARKET CAP OF OF SALES BRANDS 9.607 ~ 3 61 % 17 USD billion COP billion OUTSIDE COLOMBIA 13,7 1,1 % 2014 EBITDA MARGIN BRANDS SELL CONSOLIDATED P r o - F o r m a 2 0 1 4 MORE THAN MARKET SHARE USD billion 2 X $5,9 = $11,8 50 USD MM IN COLOMBIA SALES Pro-Forma 2014 COP trillion 6.9 ~10.41% CAGR EBITDA MARGIN 12% - 14% DISTRIBUTION 1 COP trillion WITH MORE THAN KNOWLEDGE CLOSE TO 100 12.800 MILLION ~ 2,9 SELLERS CLIENTS SERVED USD billion YEARS OF HISTORY 8 5 DIVERSIFICATION SUSTAINABILITY X BUSINESS UNITS PRESENCE 14 COUNTRIES 41 PRODUCTS SOLD IN 72 MANUFACTURING PLANTS 2 No single commodity accounts COUNTRIES for more than 10% of COGS IN 5 CONTINENTS

Corporate Structure Retail Cold Cuts Biscuits Coffee TMLUC* Ice Cream Pasta Chocolates Food * TMLUC = Tresmontes Lucchetti *this business unit will report figures beginning in 2015 International sales and distribution network 3

Significant Expansion 1,7 USD BILLION Since 2000 INVESTED IN 19 SUCCESSFUL ACQUISITIONS Colombia Colombia Puerto Rico Costa Rica Costa Rica Panama & Nicaragua Colombia Colombia Colombia Colombia Colombia Malaysia Panama Mexico Chile 2000 2002 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Costa Rica Costa Rica Peru Panama USA Dominican Republic Malaysia Colombia Colombia Biscuits Nestlé Panama Chocolates Nestlé Acquisitions (19) Mergers (5) New Businesses (3) Joint Ventures (3) 4

Sales by Region September 2015 USA 8,1% DOMINICAN REP. MEXICO & CARIBBEAN 3,9% 1,7% VENEZUELA CENTRAL AMERICA 2,3% 9,0% 62,5% 37,5% ECUADOR COLOMBIA 1,4% COLOMBIAN INTERNATIONAL 62,5% SALES SALES PERU 1,9% OTHER COUNTRIES CHILE 1,8% 7,4% 5

Pro-Forma 2014 3% TOTAL SALES BY 6% 25% BUSINESS UNIT 8% COLD CUTS $6.869 $6.462* 11% 18% BISCUITS CHOCOLATES 11% 18% COFFEE 3% EBITDA BY 23% 7% BUSINESS UNIT TMLUC** 13.7% 10% $938 $13.4%* 10% $864* ICE CREAM 18% PASTA 14% 15% RETAIL FOOD 5% INTERNATIONAL SALES 10% 34% BY BUSINESS UNIT USD 1.115 12% $1.115* 33% 35%* 24% 15% • ** TMLUC : Tresmontes Lucchetti • *This information includes El Corral pro-forma sales and EBITDA for 2014 • The Retail Food business unit consolidates the result of Grupo El Corral and the ice cream shops in Central America and Dominican Republic. The 6 results of the ice cream shops were included in the Ice Cream business units in the previous reports.

GRUPO EL CORRAL Acquisition FINANCING Bank loans 685 COP billion FINAL PRICE Employees 743,4 COP billion 5.000 (USD~288 mm) Cash (USD ~ 313 mm) 58,4 COP billion (USD~25 mm) MAIN PRO-FORMA FIGURES 2014 COMBINED EBITDA STORES STORES ABROAD SALES EBITDA MARGIN 17 18% 345 407,600 COP 73,500 COP mm mm Colombia ( USD~171 mm ) ( USD~ 31 mm ) Franchised 93% 7% GLOBAL BRANDS OWN BRANDS OF SALES OF SALES 7

Main Strategic Goal STRATEGY FOR OUR FIRST CENTURY 1920-2020 “ Our Centennial strategy aims to double our 2013 sales by 2020; with sustained profitability between 12% and 14% of the EBITDA margin. To achieve this, we offer our consumers foods and experiences of recognized and beloved brands , that nourish, generate wellness and pleasure , that are distinguished by the best price/value relation ; widely available in our strategic region, managed by talented, innovative, committed and responsible people, who contribute to “ sustainable development 2 x $5,9 = $11,8 COP trillion 10.41% CAGR 8

Differentiating Aspects of our Business Model Our Brands Our Distribution Our People Network An extensive network Human talent is one of our most Our brands are leaders in the supported by exclusive valuable assets. Our corporate markets in which we do distribution channels, culture thrives on promoting a business. They are recognized, segments, and specialized participatory environment in loved and seen as an integral attention teams, allows us to which skill development, part of people's everyday lives. establish close client recognition and work/life Our brands are based on relationships by having balance are top priorities toward nutritious, reliable products with building a leadership brand. an excellent price/value ratio. products available at all times. + 1 million 17 Brands Excellence Level Organizational Climate Score 84,1% With sales of more than Points of Sale USD 50 million 9

Business Risk Commercial Risk Financial and Operating Risks Reputation Risk Aggressive Moderate None PRINCIPAL RISKS MITIGATING FACTORS • Volatility in the prices of raw Diversification of raw materials • materials A clear hedging policy administered by a specialized committee • A highly trained team dedicated to monitoring and negotiating these supplies • Active search and exploitation of new opportunities for global sourcing • Effect on the businesses due to Large distribution capacity with a differentiated strategy a highly competitive to address multiple segments • environment including Attractive proposals with a positive price/product ratio • pressures from consumers and Recognized, beloved brands • channels Portfolio innovation and differentiation • Search to enter new markets • Regulatory changes in nutrition, Vidarium: Nutrition Research Center • health and obesity in countries Active participation in regulatory discussions with government where we are present officials • Monitoring and strict compliance of the regulations in each country 10

Corporate Governance BOARD OF DIRECTORS Antonio Mario Celia Martínez – Aparicio 1 Mauricio Reina Echeverri 2 Jaime Alberto Palacio Botero 3 David Emilio Bojanini García 4 Gonzalo Alberto Rojas 5 María Clara Aristizábal Restrepo 6 FINANCE, AUDIT AND CORPORATE GOVERNANCE AND 1 3 1 2 4 1 2 5 3 RISK COMMITTEE BOARD ISSUES COMMITTEE APPOINTMENT AND STRATEGIC PLANNING 1 2 4 6 1 2 4 COMPENSATION COMMITTEE COMMITTEE Independent Members Non - Independent Members 11

Business Model: People Our people Employees (Includes direct and indirect employees and apprentices) In Organizational climate Colombia 32.049 84.1 Includes Grupo El Corral Abroad Human – Talent Management 12.677 According to the Merco Personas 2013 Monitor, Grupo Nutresa is one of the top three companies to work for in Colombia. Total 44.726 THE FAMILY FRIENDLY COMPANY CERTIFICATION EUROMONEY: “the best managed company in Colombia” 12

Business Model: Brands Cold cuts Biscuits Chocolates Coffee TMLUC Ice Cream Pasta 13 Retail Food

Business Model: Brands Portfolio of 157 brands 17 brands selling over $50 MM 22 brands with #1 market share in key markets 44 brands 20 with over years of existence 28 present in more than one market brands 14

Market share Colombia + TMLUC Consolidated market share in Colombia: 61.0% +0,5% Cold Cuts Biscuits Chocolates Coffee TMLUC Ice Cream Pasta Retail Food 73.4% 55.7% 52.2% Chocolate ICE CREAM ICB* # 1 in Roast and ground Hamburguers confectionery 62,6% (A) ND coffee (A) and +0.4% +0.5% +0.3% 67,1% (A ) -0,6% 54,4% Steakhouses 0,0% categories in -1,0% Pastas Colombia 27,8% (B) Hot chocolate -1,1% 62,3% (B) -0,5% Coffee Soluble coffee (B) 16,2% (C) 41,7% -0,3% Milk modifiers 0.0% 25,0% (C) # 1 in Ice Potato Chips -0,1% 13,1% (D) cream shops – Rep. Dom. & +0,1% CR Nuts México ICB* 54,2% 31,9% (E) +5,1% (D) +0,7% #2 Private labels 6,4% #2 Nestlé 11,5% (A) #2 Colombina 7,5% (A) #2 Águila Roja 24,6% (A) #2 Carozzi 35,3% #2 La Muñeca 30,1% #3 Mondelez 10,3% (B) #2 Casa Lúker 26,3% (B) #1 Nestlé 43,6% (B) #1 Carozzi 46,3% (C) #1 Nestlé 70,2% (C) #1 Nestlé 69,5% (D) Frito Lay 25,1% (D) #1 Frito Lay 64,0% (D) #1 Mondelez 52.7% *ICB= Instant Cold Beverages Source: Nielsen twelve month as of september 2015. (% share as in value and change vs. same period last year) 15

Business Model: Distribution +12.800 REVENUE MIX BY CHANNEL SELLERS 3% Industrial 7% 61% Food Service (HORECA) Traditional 7% +1mm (Mom-and-pop Stores) / Independent Alternative Retail Stores CLIENTS 22% Supermarket Chains 16

Business Model: Distribution +12.800 REVENUE MIX BY CHANNEL – pro-forma 2014 SELLERS 3% 56% Industrial Traditional 4% (Mom-and-pop Stores) / Independent Food Service (HORECA) +1mm Retail Stores 6% CLIENTS Alternative 23% 7% Supermarket Chains Food Retail 17

International Expansion Model Vision Internationalization strategies • Market expansion in the strategic • Our own international distribution region – diversification of • Creation of the brand destinations • Acquisitions – productive platforms • Long – term objectives • Autonomy and strategic coherence Our own model - Developed in house Persistence in the face of difficulties Consistency in implementation Suitable teams Humility and a learning attitude Human quality and basic competencies Skill-specific people development 18