Earnings Presentation 10 March 2017 CONFIDENTIAL AND PROPRIETARY - PowerPoint PPT Presentation

Full Year 2016 Earnings Presentation 10 March 2017 CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission of Big C Supercenter PCL is strictly prohibited

Disclaimer The following presentation may contain forward looking statements by the management of Berli Jucker Public Company Limited (“BJC”), relating to financial or other trends for future periods, compared to the results for previous periods. Some of the statements contained in this presentation that are not historical facts are statements of future expectations with respect to the financial conditions, results of operations and businesses, and related plans and objectives. Forward looking information is based on management’s current views and assumptions including, but not limited to, prevailing economic and market conditions. These statements involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those in the statements as originally made. Such statements are not, and should not be constructed as a representation as to future performance of BJC. In particular, such targets should not be regarded as a forecast or projection of future performance of BJC. It should be noted that the actual performance of BJC may vary significantly from such targets. 2 Confidential

Agenda ▪ Highlights ▪ Overall performance ▪ Performance by Supply Chain ▪ Operations update 3 Confidential

HIGHLIGHTS 2016 Highlights Financial performance Strong full year organic performance of BJC’s existing supply chains.   Steady recurring performance of Modern retail Supply chain.  Delivered robust net income growth for the year.  Conducted two fully subscribed Rights-offers , and raised 82 billion baht with two debenture issues. Operations  Good momentum continuing in capturing synergies with first synergies captured during 2016, exceeding the original expectations  Clear strategic direction set for Big C  Increased investment in Fresh Food provided encouraging initial results with positive and improving like-for-like growth.  Continued Big C store expansion and renovations .  Received various international awards for Big C acquisition and financing. 4 Confidential

Agenda ▪ Highlights ▪ Overall performance ▪ Performance by Supply Chain ▪ Operations update 5 Confidential

OVERALL PERFORMANCE Overall Performance 4Q and FY 2016 • On May 11, 2016, BJC completed an acquisition of 97.94% shares in BIGC, 99.18% shares in C-Distribution • On May 11, 2016, BJC completed an acquisition of 97.94% shares in BIGC, 99.18% shares in C-Distribution Asia Pte Ltd. and 98.80% shares in C-Distribution (Thailand) Company Limited Asia Pte Ltd. and 98.80% shares in C-Distribution (Thailand) Company Limited • Results of these companies has been consolidated into BJC since March 21, 2016 • Results of these companies has been consolidated into BJC since March 21, 2016 4Q16 Sales (MB) 4Q16 Net Profit (MB) 77.3% YoY Net profit 211.3% YoY 85.3% YoY Norm. Net profit Net profit Normalized net profit 36,645 1,229 1,229 4Q16 693 663 11,771 Highlights 4Q15 4Q16 4Q15 4Q16 FY16 Sales (MB) FY16 Net Profit (MB) 43.3% YoY Net profit 192.2% YoY 53.3% YoY Norm. Net profit 125,330 4,001 3,180 2,792 FY16 2,075 42,893 Highlights FY15 FY16 FY15 FY16 6 6 Confidential

OVERALL PERFORMANCE 4Q16 vs. 4Q15 – Supply Chain performance  4Q16 Sales of THB 36,645 million, an increase of THB 24,874 million or 211.3% YoY PSC CSC H&TSC MSC Others THB MN • PSC ’ s sales improved by THB 143 MN due to higher sales in (132) glass and aluminum can businesses in beverage segment. +211.3% YoY • CSC ’ s sales decreased by THB 49 MN due to lower sales in food and non-food businesses. 24,918 • H&TSC ’ s sales decreased by THB 6 MN due to lower sales in 36,645 technical supply chain. (49) 143 (6) • MSC ‘ s sales were THB 24,918 MN 11,771 4Q15 4Q16  4Q16 Net Profit of THB 1,229 million, an increase of THB 536 million or 77.3% YoY PSC CSC H&TSC MSC Others • PSC’s net profit increased THB 87 MN due to higher sales from THB MN glass and aluminum packaging, lower energy costs, and an improvement in manufacturing efficiency +77.3% YoY (665) • CSC’s net profit decreased THB 15 MN due to high base 1,181 arising from the one-off items. (Excluding one-off items, normalized net profit of CSC increased THB 15 MN) (15) (52) 87 • H&TSC’s net profit decreased THB 52 MN due to due to lower 1,229 gross profit margin in Healthcare Supply Chain 693 • MSC’s net profit was THB 1,181 MN 4Q15 4Q16 7 7 PSC : Packaging Supply Chain, CSC: Consumer Supply Chain, H&TSC: Health Care and Technical Supply Chain, MSC: Modern Retail Supply Chain Confidential

OVERALL PERFORMANCE FY16 vs. FY15 – Supply Chain performance FY16 Sales were THB 125,330 million, an increase of THB 82,437 million or 192.2% YoY  PSC CSC H&TSC MSC Others  PSC’s sales increased THB 1,256 MN due to higher THB MN (432) sales in glass and aluminum can businesses in beverage segment. +192.2% YoY  CSC’s sales increased THB 18 MN mainly due to 81,393 logistics and international trading businesses 125,330  H&TSC’s sales increased THB 202 MN, due to higher 18 202 1,256 sales from both pharmaceutical and medical equipment products 42,893 MSC’s sales was THB 81,393 MN  FY16 FY15  FY16 Net Profit was THB 4,001 million, an increase of THB 1,209 million or 43.3% YoY  PSC’s net profit increased THB 382 MN, due to higher THB MN PSC CSC H&TSC MSC Others sales from glass and aluminum can packaging business, lower energy costs and an improvement in manufacturing efficiency (3,318)  CSC’s net profit decreased THB 550 MN, driven by high +43.3% YoY 4,628 base due to extra gains in 2Q15, 3Q15, and 4Q15. (Excluding one-off items, normalized net profit of CSC increased THB 167 MN) 382 (550) 67 4,001  H&TSC’s net profit increased THB 67 MN, due to higher 2,792 sales from Healthcare Supply chain, together with gross profit margin improvement in Technical Supply chain FY16 FY15 MSC’s net profit was THB 4,628 MN  8 PSC : Packaging Supply Chain, CSC: Consumer Supply Chain, H&TSC: Health Care and Technical Supply Chain, MSC: Modern Retail Supply Chain Confidential

OVERALL PERFORMANCE Gross Profit 4Q16 and FY16 (Recurring) 4Q16 GP (MB) FY16 GP (MB) 23.7% 23.1% 22.9% 21.5% BJC 10,156 9,822 2,782 2,530 Highlights 4Q15 4Q16 FY15 FY16 4Q16 GP (MB) FY16 GP (MB) 14.7% 13.7% 14.1% 13.5% BIG C Highlights¹ 16,338 15,773 4,170 3,503 4Q15 4Q16 FY15 FY16 9 1 Recurring Gross Profit margin excluding one-off items: -74 million baht in 2016 and 108 million baht in 2015 Confidential

OVERALL PERFORMANCE EBITDA 4Q16 and FY16 (Recurring) 4Q16 EBITDA (MB) FY16 EBITDA (MB) 16.5% 15.1% 14.8% 13.6% BJC 7,237 6,487 Highlights 1,731 1,601 4Q15 4Q16 FY15 FY16 4Q16 EBITDA (MB) FY16 EBITDA (MB) 11.5% 10.3% 10.7% 10.3% BIG C Highlights¹ 12,353 12,314 3,172 2,658 4Q15 4Q16 FY15 FY16 10 1 Recurring EBITDA, excluding one-off items: -259 million baht in 2016 and 621 million baht in 2015 Confidential

OVERALL PERFORMANCE Performance breakdown 4Q 2016 FY 2016 Sales Breakdown Sales Breakdown H & TSC H & TSC 6% PSC CSC CSC 6% PSC 14% 11% Others Others 13% 15% 1% 1% MSC MSC 68% 65% Net Profit Breakdown Net Profit Breakdown CSC CSC 5% 5% PSC H & TSC PSC 26% H & TSC 7% 28% 9% MSC MSC 60% 61% 11 PSC : Packaging Supply Chain, CSC: Consumer Supply Chain, H&TSC: Health Care and Technical Supply Chain, MSC: Modern Retail Supply Chain Confidential

OVERALL PERFORMANCE Capital structure  BJC completed 97.94% Big C acquisition on 11 th May 2016  BJC Q4 Net Interest Bearing Debt to Equity of 1.3X Financing Structure – Net Debt and Deleveraging Components THB MM 3,187 148,748 1,523 82,000 153,458 66,748 (1) (2) BJC Q3 Net Debt Change in Existing Net Debt Increasee in cash BJC Q4 Net Debt Net Interest Baring Debt to 1.4x 1.3x Shareholders ’ Equity 12 Confidential

OVERALL PERFORMANCE Awards 1. SOUTHEAST ASIA: BEST DOMESTIC M&A, The Asset Regional Awards 2016: Berli Jucker PCL US$6.3 billion acquisition of Big C Supercenter PCL 2. THAILAND: BEST M&A, The Asset Country Awards 2016: Berli Jucker PCL US$6.3 billion acquisition of Big C Supercenter PCL 3. THAILAND: BEST ACQUISITION FINANCING, The Asset Country Awards 2016: Berli Jucker PCL € 3.2 billion and 88 billion baht loan facilities 4. BEST LOCAL CURRENCY BOND DEAL OF THE YEAR 2016 IN SOUTHEAST ASIA, Alpha Southeast Asia - 10th Annual Alpha Southeast Asia Deal & Solution Awards 2016: Berli Jucker PCL THB 54 billion (US$1.51 billion) Bond ) 5. BEST THAILAND DEAL, The FinanceAsia – Achievement Awards 2016: Groupe Casino THB 122.16 billion sale of 58.56% of Big C Supercenter PCL to BJC 6. ThaiBMA BEST BOND AWARDS 2016 : DEAL OF THE YEAR for The Debentures of Berli Jucker Public Company Limited No. 1/2016 Tranche 1-4 13 Confidential

Agenda ▪ Highlights ▪ Overall performance ▪ Performance by Supply Chain ▪ Operations update 14 Confidential