Grupo Nutresa S.A. Results 2Q 2019 RELEVANT EVENTS Grupo Nutresa, - PowerPoint PPT Presentation

I T I N S P I R E S U S A FUTURE TOGETHER Grupo Nutresa S.A. Results 2Q 2019

RELEVANT EVENTS Grupo Nutresa, ratified as the second best Fitch Ratings reaffirms rating of Grupo company to attract and to retain talent in Nutresa ordinary bonds in ‘AAA(col)’. The Colombia perspective is stable. 2

RELEVANT EVENTS - RECENT INNOVATIONS IN HEALTH AND NUTRITION The well-being of consumers is an essential pillar of Grupo Nutresa ´ s strategy. For this reason, we continue developing products and experiences that contribute to the adoption of healthier lifestyles and improve the quality of life of our consumers. We share some product innovations launched during the second quarter focused on health and nutrition: Ancestral Quinua Oat Pancakes - Tosh Kibo Foods 3

COLOMBIA & INTERNATIONAL SALES 2Q2019 Colombia sales SALES PER Q: + 5,0% + 0,8% COP 1.503,8 + 5,8% BUSINESS UNIT 413,4 P: + 0,5% * Billion COP + 3,4% + 9,8% 251,2 + 5,2% 244,4 Percentage variation in volume (Q) and prices + 8,6% + 6,9% 165,7 + 12,4% (P) 138,5 110,5 % chg. YoY Billion COP 85,3 Billion COP * Variation doesn’t include Retail Food Cold cuts Biscuits Chocolates Coffee Retail Food Ice cream Pasta Q: + 0,5% Q: + 9,1% Q: + 2,1% Q: + 5,4% Q: + 4,3% Q: + 11,1% P: + 0,3% P: + 0,7% P: + 1,3% P: - 0,1% P: + 2,5% P: + 1,1% International sales USD 276,7 mm - 1,9% - 6,8% - 0,2% COP 896,9 + 12,0% 86,3 77,5 Billion COP - 1,0% + 6,7% 43,9 35,8 + 4,9% - 12,8% % chg. YoY Million dollars Million dolars 19,1 12,6 TMLUC Biscuits Chocolates Coffee Retail Food Cold cuts 4

TOTAL SALES 2Q2019 Total Sales SALES PER COP 2.400,7 + 8,0% BUSINESS UNIT Billion COP + 11,9% + 0,7% 495,6 454,2 + 6,7% 393,7 + 6,4% + 11,5% 281,6 279,9 + 11,8% Billion COP 200,5 + 6,9% + 12,4% 110,5 85,8 Cold cuts Biscuits Chocolates TMLUC Coffee Retail Food Ice cream Pasta % chg. YoY - Billion COP 5

COLOMBIA & INTERNATIONAL SALES ACCUMULATED 2019 Q: + 4,2% Colombia sales + 0,4% SALES PER P: + 0,9% * 813,0 COP 2.911,9 + 5,2% BUSINESS UNIT + 4,6% Billion COP + 7,8% + 4,8% 486,6 463,8 + 6,4% Percentage variation in volume (Q) and prices + 3,7% + 11,1% 319,8 (P) 266,4 222,7 Billion COP % chg. YoY Billion COP 161,9 * Variation doesn’t include Retail Food Cold cuts Biscuits Chocolates Coffee Retail Food Ice cream Pasta Q: + 0,1% Q: + 6,6% Q: + 2,7% Q: + 5,7% Q: + 1,7% Q: + 9,8% P: + 0,3% P: + 1,1% P: + 1,8% P: - 0,8% P: + 1,9% P: + 1,1% International sales USD 544,0 mm - 0,6% - 6,0% COP 1.734,5 + 11,2% + 1,0% 168,8 Billion COP 153,6 + 3,4% + 8,2% 88,6 + 3,4% 66,9 - 13,0% % chg. YoY Million dollars Million dolars 37,7 25,5 TMLUC Biscuits Chocolates Coffee Retail Food Cold cuts 6

TOTAL SALES ACCUMULATED 2019 Total Sales SALES PER COP 4.646,4 + 7,4% BUSINESS UNIT Billion COP + 10,4% + 0,1% 953,5 894,3 + 8,5% 769,0 + 5,2% + 10,8% 538,4 533,0 + 9,1% Billion COP 386,4 + 3,7% + 11,1% 222,7 163,1 Cold cuts Biscuits Chocolates TMLUC Coffee Retail Food Ice cream Pasta % chg. YoY - Billion COP 7

SALES BY REGION 2019 United States Dominican Republic and the Carribbean 8,5% 1,9% Mexico Venezuela 3,8% 62,7% Colombia Central America Peru 9,8% 37,3% 1,9% International Colombia Chile 62,7% 8,2% Ecuador Other 1,4% 1,8% Convention 8 Production Distribution Services

MARKET POSITION Colombia + TMLUC Cold cuts TMLUC Pasta Retail Food Biscuits Chocolates Coffee Ice Cream Chocolate #1 #1 #1 #1 Roast and ground ICB* Ice Cream confectionery #1 #1 coffee (A) In Hamburgers and #1 #1 Steakhouses categories in Colombia Pasta Hot chocolate #2 #1 Soluble coffee (B) #2 #1 Coffee #2 Milk modifiers In Ice Cream shops – #2 Rep. Dom & CR Potato chips #2 Nuts #1 Mexico ICB* #2 #2 Private labels #2 Nestlé (A) #2 Ferrero (A) #2 Águila Roja (A) #2 Carozzi #2 La Muñeca #3 Mondelez (B) #2 Casa Lúker (B) #1 Nestlé (B) #1 Carozzi (C) #1 Nestlé (C) #1 Nestlé (D) #2 Frito Lay (D) #1 Frito Lay (E) #1 Mondelez *ICB= Instant Cold Beverages Source: Nielsen twelve month as of june 2019 9

RAW MATERIALS Commodities Index COGS Breakdown Grupo Nutresa 2019 1,6% Poultry 170 2,4% Milk 150 2,9% Beef 144 3,5% Oils & fats 130 113 4,4% Sugar 39,2% Other 110 5,2% Cocoa 113 112 107 7,2% Wheat 90 95 87 77 7,3% 87 Pork 86 86 15,5% 82 Pack. Mat. 70 10,8% Coffee 2018 2019 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 La The technical specifications of the GNCI may be obtained at: https://www.gruponutresa.com/en/inversionistas/resultados-y- publicaciones/resultados-trimestrales/#2019-2 10

EBITDA 2Q2019 16,0% EBITDA EBITDA PER + 33,6% COP 327,9 + 22,9% BUSINESS UNIT 79,5 Billion COP 13,9% 11,5% Margin - 4,2% + 1,6% 21,8% 13,7% 54,5 52,4 + 151,0% 13,0% 12,7% + 7,8% 43,6 + 21,7% Billion COP 36,3 35,8 10,8% 13,2% + 30,6% + 32,5% 11,9 11,3 Cold cuts Biscuits Chocolates TMLUC Coffee Retail Food Cárnico Galletas Chocolates TMLUC Café Alim. al Ice cream Pasta Helados Pastas Cárnico Galletas Chocolates TMLUC Café Alim. al Helados Pastas Total Consumidor Consumidor EBITDA Margin without IFRS 16 10,4% 15,4% 13,4% 11,6% 12,2% 13,6% 8,8% 11,6% 12,1% Variation -8,7% + 28,4% -7,7% -4,0% + 16,4% + 56,8% + 6,7% + 16,5% + 9,0% EBITDA 290,7 CONVENTION BY BUSINESS UNIT 11,5% EBITDA Margin without IFRS 16 impact +1,6% % YoY variation 52,4 EBITDA in Billion COP 11

EBITDA ACCUMULATED 2019 15,0% EBITDA EBITDA PER + 21,5% COP 648,0 + 20,0% BUSINESS UNIT 15,3% 143,4 Billion COP 12,3% + 0,0% + 4,0% Margin 117,5 22,1% 110,1 13,9% 13,8% + 123,6% + 10,4% 11,4% 85,6 74,5 + 14,6% Billion COP 60,7 12,5% 13,5% + 26,9% + 27,7% 27,9 22,1 Cold cuts Biscuits Chocolates TMLUC Coffee Retail Food Ice cream Pasta Cárnico Cárnico Galletas Galletas Chocolates Chocolates TMLUC TMLUC Café Café Alim. al Consumidor Helados Alim. al Helados Pastas Pastas Total Consumidor EBITDA Margin without IFRS 16 11,1% 14,4% 14,6% 12,4% 10,8% 13,6% 10,7% 12,1% 12,3% Variation - 6,0% + 16,6% - 4,3% - 1,2% + 8,3% + 37,6% + 8,4% + 14,2% + 6,3% EBITDA 573,8 CONVENTION BY BUSINESS UNIT 12,3% EBITDA Margin without IFRS 16 impact +4,0% % YoY variation 110,1 EBITDA in Billion COP 12

INCOME STATEMENT 2Q2019 2019 2Q % Revenues 2019 2Q % Revenues 2018 2Q % Revenues % Var. % Var. Without IFRS Without IFRS Without IFRS Continuing operations 16 16 16 Operating revenue 2.400.675 2.400.675 2.222.169 8,0% 8,0% Cost of goods sold (1.330.189) -55,4% (1.332.015) -55,5% (1.229.625) -55,3% 8,2% 8,3% Gross profit 1.070.486 44,6% 1.068.660 44,5% 992.544 44,7% 7,9% 7,7% Administrative expenses (108.782) -4,5% (111.394) -4,6% (97.486) -4,4% 11,6% 14,3% Sales expenses (691.588) -28,8% (695.457) -29,0% (655.615) -29,5% 5,5% 6,1% Production expenses (39.119) -1,6% (39.253) -1,6% (35.500) -1,6% 10,2% 10,6% Exchange differences on operating assets and liabilities 854 0,0% 854 0,0% (88) 0,0% N/A -1070,5% Other operating expenses, net 3.310 0,1% 3.310 0,1% (5.545) -0,2% -159,7% -159,7% Operating profit 235.161 9,8% 226.720 9,4% 198.310 8,9% 18,6% 14,3% Financial income 3.687 0,2% 3.687 0,2% 3.793 0,2% -2,8% -2,8% Financial expenses (74.889) -3,1% (59.313) -2,5% (61.395) -2,8% 22,0% -3,4% Portfolio dividends 10 0,0% 10 0,0% 26.223 1,2% -100,0% -100,0% Exchange differences on non-operating assets and liabilities (1.437) -0,1% (1.437) -0,1% 13.251 0,6% -110,8% -110,8% Share of profit of associates and joint ventures (523) 0,0% (523) 0,0% 1.623 0,1% -132,2% -132,2% Other expenses - 0,0% - 0,0% (2.755) -0,1% -100,0% -100,0% Income before tax and non-controlling interest 162.009 6,7% 169.144 7,0% 179.050 8,1% -9,5% -5,5% Current income tax (49.555) -2,1% (49.555) -2,1% (43.360) -2,0% 14,3% 14,3% Deferred income tax (4.414) -0,2% (4.414) -0,2% (10.591) -0,5% -58,3% -58,3% Profit after taxes from continuous operations 108.040 4,5% 115.175 4,8% 125.099 5,6% -13,6% -7,9% Discontinued operations, after income tax (14) 0,0% (14) 0,0% (617) 0,0% -97,7% -97,7% Net profit for the period 108.026 4,5% 115.161 4,8% 124.482 5,6% -13,2% -7,5% Non- controlling interest 1.543 0,1% (3.527) -0,1% 212 0,0% N/A -1763,7% Profit for the period attributable to controlling interest 106.483 4,4% 113.618 4,7% 124.270 5,6% -14,3% -8,6% EBITDA 327.876 13,7% 290.726 12,1% 266.740 12,0% 22,9% 9,0% For further details please check the notes of the financial statements on the following link: https://www.gruponutresa.com/en/inversionistas/resultados-y-publicaciones/resultados-trimestrales/#2019-2 13