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

CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission of Big C Supercenter PCL is strictly prohibited

Full Year 2016 Earnings Presentation

10 March 2017

Confidential

Disclaimer

2

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that could cause actual results, performance or events to differ materially from those in the statements as originally made.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.

Confidential

Agenda

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▪ Highlights ▪ Overall performance ▪ Performance by Supply Chain ▪ Operations update

Confidential

2016 Highlights

4

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.

HIGHLIGHTS

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Agenda

5

▪ Highlights ▪ Overall performance ▪ Performance by Supply Chain ▪ Operations update

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Overall Performance 4Q and FY 2016

6

OVERALL PERFORMANCE

• 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

• Results of these companies has been consolidated into BJC since March 21, 2016

6

693 1,229 663 1,229

4Q15 4Q16

Net profit Normalized net profit

11,771 36,645

4Q15 4Q16

42,893 125,330

FY15 FY16

4Q16 Net Profit (MB) 4Q16 Sales (MB)

• 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

• Results of these companies has been consolidated into BJC since March 21, 2016

4Q16 Highlights FY16 Sales (MB)

192.2% YoY

FY16 Net Profit (MB) 2,792 4,001 2,075 3,180

FY15 FY16

FY16 Highlights

211.3% YoY 43.3% YoY Net profit 53.3% YoY

• Norm. Net profit
• Norm. Net profit

Net profit 77.3% YoY 85.3% YoY

Confidential

• 4Q16 Net Profit of THB 1,229 million, an increase of THB 536 million or 77.3% YoY
• PSC’s net profit increased THB 87 MN due to higher sales from

glass and aluminum packaging, lower energy costs, and an improvement in manufacturing efficiency

• CSC’s net profit decreased THB 15 MN due to high base

arising from the one-off items. (Excluding one-off items, normalized net profit of CSC increased THB 15 MN)

• H&TSC’s net profit decreased THB 52 MN due to due to lower

gross profit margin in Healthcare Supply Chain

• MSC’s net profit was THB 1,181 MN

THB MN

4Q16 vs. 4Q15 – Supply Chain performance

7

OVERALL PERFORMANCE

693 1,229 87 (15) (52) 1,181 (665) PSC CSC H&TSC Others MSC 11,771 36,645 143 (49) (6) 24,918 (132)

7

• 4Q16 Sales of THB 36,645 million, an increase of THB 24,874 million or 211.3% YoY
• PSC’s sales improved by THB 143 MN due to higher sales in

glass and aluminum can businesses in beverage segment.

• CSC’s sales decreased by THB 49 MN due to lower sales in food

and non-food businesses.

• H&TSC’s sales decreased by THB 6 MN due to lower sales in

technical supply chain.

• MSC ‘s sales were THB 24,918 MN

4Q15 4Q16

THB MN

+211.3% YoY +77.3% YoY PSC CSC H&TSC Others MSC

PSC: Packaging Supply Chain, CSC: Consumer Supply Chain, H&TSC: Health Care and Technical Supply Chain, MSC: Modern Retail Supply Chain

4Q15 4Q16

Confidential

• PSC’s net profit increased THB 382 MN, due to higher

sales from glass and aluminum can packaging business, lower energy costs and an improvement in manufacturing efficiency

• CSC’s net profit decreased THB 550 MN, driven by high

base due to extra gains in 2Q15, 3Q15, and 4Q15. (Excluding one-off items, normalized net profit of CSC increased THB 167 MN)

• H&TSC’s net profit increased THB 67 MN, due to higher

sales from Healthcare Supply chain, together with gross profit margin improvement in Technical Supply chain

• MSC’s net profit was THB 4,628 MN

FY16 vs. FY15 – Supply Chain performance

OVERALL PERFORMANCE

8

42,893 125,330 1,256 18 202 81,393 (432) 2,792 4,001 382 (550) 67 4,628 (3,318) PSC CSC H&TSC Others MSC

• PSC’s sales increased THB 1,256 MN due to higher

sales in glass and aluminum can businesses in beverage segment.

• CSC’s sales increased THB 18 MN mainly due to

logistics and international trading businesses

• H&TSC’s sales increased THB 202 MN, due to higher

sales from both pharmaceutical and medical equipment products

• MSC’s sales was THB 81,393 MN
• FY16 Net Profit was THB 4,001 million, an increase of THB 1,209 million or 43.3% YoY

FY15 FY16

THB MN THB MN

+192.2% YoY +43.3% YoY PSC CSC H&TSC Others MSC

FY15 FY16

• FY16 Sales were THB 125,330 million, an increase of THB 82,437 million or 192.2% YoY

PSC: Packaging Supply Chain, CSC: Consumer Supply Chain, H&TSC: Health Care and Technical Supply Chain, MSC: Modern Retail Supply Chain

Confidential

Gross Profit 4Q16 and FY16 (Recurring)

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OVERALL PERFORMANCE

9,822 10,156 22.9% 23.1% FY15 FY16

FY16 GP (MB) 4Q16 GP (MB) BJC Highlights 4Q16 GP (MB) BIG C Highlights¹

2,530 2,782 21.5% 23.7% 4Q15 4Q16 4,170 3,503 13.5% 14.1% 4Q15 4Q16 16,338 15,773 13.7% 14.7% FY15 FY16

FY16 GP (MB)

1 Recurring Gross Profit margin excluding one-off items: -74 million baht in 2016 and 108 million baht in 2015

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EBITDA 4Q16 and FY16 (Recurring)

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OVERALL PERFORMANCE

6,487 7,237 15.1% 16.5% FY15 FY16

FY16 EBITDA (MB) 4Q16 EBITDA (MB) BJC Highlights 4Q16 EBITDA (MB) BIG C Highlights¹

1,601 1,731 13.6% 14.8% 4Q15 4Q16 3,172 2,658 10.3% 10.7% 4Q15 4Q16 12,353 12,314 10.3% 11.5% FY15 FY16

FY16 EBITDA (MB)

1 Recurring EBITDA, excluding one-off items: -259 million baht in 2016 and 621 million baht in 2015

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Performance breakdown

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OVERALL PERFORMANCE

4Q 2016 FY 2016

Sales Breakdown Sales Breakdown Net Profit Breakdown Net Profit Breakdown

PSC 14% CSC 11% H & TSC 6% Others 1% MSC 68% PSC 15% CSC 13% H & TSC 6% MSC 65% Others 1% PSC 26% CSC 5% H & TSC 9% MSC 60% PSC 28% CSC 5% H & TSC 7% MSC 61%

PSC: Packaging Supply Chain, CSC: Consumer Supply Chain, H&TSC: Health Care and Technical Supply Chain, MSC: Modern Retail Supply Chain

Confidential

66,748 153,458 3,187 1,523 82,000

BJC Q3 Net Debt Change in Existing Net Debt Increasee in cash BJC Q4 Net Debt

(2)

Net Interest Baring Debt to Shareholders’ Equity

Financing Structure – Net Debt and Deleveraging Components

THB MM

• BJC completed 97.94% Big C acquisition on 11th May 2016
• BJC Q4 Net Interest Bearing Debt to Equity of 1.3X

1.3x

(1)

1.4x

148,748

Capital structure

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OVERALL PERFORMANCE

Confidential

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

Awards

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OVERALL PERFORMANCE

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Agenda

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▪ Highlights ▪ Overall performance ▪ Performance by Supply Chain ▪ Operations update

Confidential

• FY16 sales increased by +7.1% YoY, and our

gross profit margin increased by +48 basis points, driven by glass and aluminum can packaging businesses.

• Our EBIT increased by +13.1% YoY, and EBIT

margin increased by +78 bps due lower energy costs, and an improvement in manufacturing efficiency.

• Our net profit increased by +22.2% YoY, and net

profit margin increased by +137 bps due to higher sales, lower energy costs, and an improvement in manufacturing efficiency.

Packaging Supply Chain – 4Q and FY 2016

15

PERFORMANCE BY SUPPLY CHAIN

GP% 144 bps Sales 2.9% NP% 149 bps NP 20.2% EBIT% 218 bps EBIT 21.0% 603 731 2,456 2,778 12.4% 14.6% 13.9% 14.7% 4Q15 4Q16 FY15 FY16

• 4Q16 sales reached THB 5,006 MN, up +2.9% YoY, driven by both glass and

aluminum can businesses in beverage segments.

• Our gross profit margin was up +144 basis points YoY, reaching 20.7% for the
• quarter. This increase was driven by lower energy costs, and an improvement in

manufacturing efficiency.

• Our EBIT reached THB 731 MN, up +21.0% YoY, and our EBIT margin increased

by +218 basis points YoY, reaching 14.6% for the quarter.

• Our net profit reached THB 571 MN, up +20,2% YoY, and our net profit margin

increased by +149 basis points YoY, reaching 10.3% for the quarter. This was driven by higher sales from glass and aluminum can packaging businesses, lower energy costs, and an improvement in manufacturing efficiency.

Sales and Gross Profit Margin EBIT and EBIT Margin Net Profit and Net Profit Margin

EBIT% 78 bps EBIT 13.1% NP% 137 bps NP 22.2%

4Q16 Highlights FY16 Highlights

GP% 48 bps Sales 7.1% 430 517 1,719 2,101 8.8% 10.3% 9.7% 11.1% 4Q15 4Q16 FY15 FY16 4,863 5,006 17,692 18,948 19.3% 20.7% 20.3% 20.7% 4Q15 4Q16 FY15 FY16

Confidential

• FY16 sales increased by +0.1% YoY, and our

gross profit margin decreased by -44 basis points, driven by increases in some raw material costs such as sweet potato, palm oil, and hard wood.

• Our recurring EBIT decreased by -5.5% YoY, and

EBIT margin decreased by -22 bps

• Our recurring net profit increased by +77.2%

YoY, and net profit margin increased by +102 bps due to lower advertisement expenses.

Consumer Supply Chain – 4Q and FY 2016 (Recurring)

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PERFORMANCE BY SUPPLY CHAIN

NP% 102 bps NP 77.2%

Recurring EBIT and EBIT Margin¹ Recurring Net Profit and Net Profit Margin¹

EBIT% 9 bps EBIT 3.8% EBIT% 22 bps EBIT 5.4% NP% 37 bps NP 19.6% 144 139 649 614 3.4% 3.3% 4.0% 3.8% 4Q15 4Q16 FY15 FY16 74 89 216 383 1.8% 2.1% 1.3% 2.3% 4Q15 4Q16 FY15 FY16

• 4Q16 sales reached THB 4,188 MN, down -1.2% YoY, mainly driven by lower

sales in food and non-food businesses.

• Our gross profit margin increased by +347 basis points YoY, reaching 17.7% for

the quarter. This increase was driven by lower raw material and energy costs.

• Our recurring EBIT reached THB 139 MN, down -3.8% YoY, and our EBIT margin

decreased by -9 basis points YoY, reaching 3.3% for the quarter.

• Our recurring net profit reached THB 89 MN, up +19.6% YoY, and our net profit

margin increased by +37 basis points YoY, reaching 2.1% for the quarter, due to improved gross profit margin.

¹Excluding one-off items: THB 343 million relating to a bargain purchase in Thai Dairy Company in 2Q15, and THB 344 million relating to the former major shareholder of an indirect subsidiary under the Share Sale and Purchase Agreement

GP% 44 bps Sales 0.1% 4,237 4,118 16,322 16,340 14.2% 17.7% 17.6% 17.2% 4Q15 4Q16 FY15 FY16

Sales and Gross Profit Margin

GP% 347 bps Sales 1.2%

4Q16 Highlights FY16 Highlights

Confidential

• FY16 sales increased by +2.8% YoY, and our

gross profit margin increased by +17 basis points.

• Our EBIT increased by +14.0 YoY, and EBIT

margin increased by +92 bps driven by higher sales from all businesses and lower SG&A-to- sales ratio.

• Our net profit increased by +14.6% YoY, and net

profit margin increased by +73 bps due to higher sales from both HSC and TSC together with an improvement in GP margin in TSC

Healthcare & Technical Supply Chain – 4Q and FY 2016

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PERFORMANCE BY SUPPLY CHAIN

224 172 456 523 10.3% 7.9% 6.3% 7.1% 4Q15 4Q16 FY15 FY16 289 226 613 698 13.3% 10.4% 8.5% 9.4% 4Q15 4Q16 FY15 FY16 2,173 2,167 7,204 7,406 32.7% 31.4% 31.6% 31.8% 4Q15 4Q16 FY15 FY16 EBIT% 288 bps EBIT 21.9% NP% 237 bps NP 23.2% GP% 17 bps Sales 2.8%

Sales and Gross Profit Margin EBIT and EBIT Margin Net Profit and Net Profit Margin

EBIT% 92 bps EBIT 14.0%

• 4Q16 sales reached THB 2,167 MN, slight decrease of -0.2% YoY, due to lower

sales in Technical Supply Chain.

• Our gross profit margin declined by -131 basis points YoY, reaching 31.4% for

the quarter driven by unfavorable exchange rate and higher costs.

• Our EBIT reached THB 226 MN, down -21.9% YoY, and our EBIT margin

decreased by -288 basis points YoY, reaching 10.4% for the quarter.

• Our net profit reached THB 172 MN, decrease of -23.2% YoY, and our net profit

margin decreased by -237 basis points YoY, reaching 7.9% for the quarter.

NP% 73 bps NP 14.6% GP% 131 bps Sales 0.2%

4Q16 Highlights FY16 Highlights

Confidential

• FY16 sales decreased by -10.3% YoY, whilst our

recurring gross profit margin increased by +105bps, this development was driven by strategic sift of focus to quality of sales in late June.

• Our recurring EBIT decreased by -1.5% YoY, and

recurring EBIT margin increased by +71 bps.

• Our recurring net profit increased by +3.4% YoY,

and recurring net profit margin increased by +82 bps due to margin improvements, lower finance costs, and lower effective tax rate.

Big C Supercenter – 4Q and FY 2016 recurring¹ (Standalone)

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PERFORMANCE BY SUPPLY CHAIN

EBIT% 36 bps EBIT 23.2% 2,196 1,686 8,580 8,454 7.1% 6.8% 7.2% 7.9% 4Q15 4Q16 FY15 FY16 1,640 1,338 6,401 6,616 5.3% 5.4% 5.4% 6.2% 4Q15 4Q16 FY15 FY16

Sales and Recurring Gross Profit Margin Recurring EBIT and EBIT Margin Recurring Net Profit and Net Profit Margin

NP% 5 bps NP 18.4%

30,816 24,918 119,620 107,240

13.5% 14.1% 13.7% 14.7% 4Q15 4Q16 FY15 FY16 GP% 105 bps Sales 10.3% GP% 53 bps Sales 19.1% EBIT% 71 bps EBIT 1.5%

• 4Q16 sales reached THB 24,918 MN, down -19.1% YoY, driven by a negative

same-store-sales of -22.2% for the quarter due to our strategic focus on the quality of sales, and consumption slowdown during nationwide mourning period.

• Our recurring gross profit margin increased by +53 basis points YoY, reaching

14.1%, but declined q-o-q due timing difference of stock take.

• Our recurring EBIT reached THB 1,686 MN, down -23.2% YoY, and our recurring

EBIT margin decreased by -36 basis points YoY, reaching 6.8% for the quarter. This decline was driven by lower other income and sales declining at faster pace than our expenses.

• Our recurring net profit reached THB 1,338 MN, down -18.4% YoY, and recurring
• ur net profit margin increased by +5 basis points YoY, reaching 5.4% for the

quarter. 4Q16 Highlights

NP% 82 bps NP 3.4%

FY16 Highlights

1 Excluding one-off items: GP -74 million baht in 2016 and 108 million baht in 2015, and EBIT -259 million baht in 2016 and 621 million baht in 2015

Confidential

Agenda

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▪ Highlights ▪ Overall performance ▪ Performance by Supply Chain ▪ Operations update

Confidential

PSC – SB4 new furnace update

20

• In 2016 we started construction of SB4 furnace
• Increased our efficiency as our capacity

utilization level reached to above 90%

• In 2017 our capacity will increase over 10%

when SB4 furnace will be commercialized in 4Q 2017

• Significantly reducing need to import glass

from China OPERATIONS UPDATE

Confidential

CSC – 2017 New Products Launch 2017

OPERATIONS UPDATE Party Dairy POP & GO Jumbo Launch in January 2017 Tasto Potato Chips Waffle Cut Double Chili and Extra Cheese Launch in February 2017 Crispy Snack Seafood Flavored Launch in February 2017 KATO Melon & Tropical Fruit Launch in February 2017 Cocoa Dutch Choice Launch in March 2017 Dozo Babybite Organic Carrot Flavored Launch in March 2017

Confidential

HSC – 2016 Successful Activities

OPERATIONS UPDATE

CHOLANGIOCARCINOMA SCREENING AND CARE PROGRAM Providing Great Ultrasound System in order to have basic screening to patients in Northeast area

Confidential

Year 2016 Successful Activities

FIRST MOBILE STROKE UNIT IN THAILAND (PHAYATHAI 1 HOSPITAL)

First unit in Asia and 1 of 5 units in the world!!!

OPERATIONS UPDATE

Confidential

2016 BJC / BIGC synergies and operational changes

24

Synergy task force with 9 priority work streams Fresh Food

• rdering with

Metro Vietnam Launch of BJC Cellox manufactured Happy Baht tissue paper Launch of Soft Serve Ice-cream Company insurance coverage switched to South East Insurance Renegotiated pallet contract Full integration

• f BJL team

Launch of IT integration with Vietnam

Store

• penings

with TCC

Discontinued unprofitable sales CMART launched

Operational changes

Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Synergies

Customer service initiative launched Love@First Sight store audit competition launched Ecommerce teams integrated Store improvement renovations initiated New Mini Big C store concept introduced Investment to Fresh Food

OPERATIONS UPDATE

Confidential

BJC / BIGC Synergies

25

OPERATIONS UPDATE

Progress update

1 Including Management fee and insurance premium savings

• Good initial

progress in capturing synergies between BJC and Big C during 2016

• Successfully

captured >THB 300m¹ of synergies during 2016

• During 2017 we

believe that we can capture THB c.600 million of additional synergies

EBITDA improvement in 2016 actual (THB million) 357 6 10 121 220 Insurance Premium Management Fee Logistics synergies Total Other initiatives

• Savings from

discontinuing management fee payments to former major shareholder

• Savings from

switching insurance to SEG

• Integration of

Logistics operations between BJL and Big C Logistics

• Paper SKUs, back
• ffice synergies,
• perational

synergies, etc.

Confidential

Synergies – Outlook for 2017

26

• We have reached our 2016 goals for synergies – now 2017 is a key year to keep up the momentum to

reach our target of THB1.7Bn(1) recurring synergies in 2019 (Targeting to reach 1/3rd in 2017)

Economies of scale through leveraging manufacturing capability for private brands Leveraging BJC’s leadership in consumer supply chain and logistics and improving Big C’s current backend infrastructure

• Head of BJL is now also Head of Big C

Logistics, so we have integrated the two

• rganizationally. This way, we can make

full use of all assets in an integrated manner.



Potential to increase penetration of private label with BJC products

• We are making a good start by

bringing additional SKUs in house from BJC

• 10 additional paper SKUs (toilet

paper, kitchen towel) will be transferred during 2017;

• More food SKUs from our

specialties division under development



IT Synergies between BJC and Big C

• IT integration is progressing on plan and is

expected to be completed within Q4 2017.

• The Head of IT of Big C is now also
• verseeing IT matters at BJC

Synergies: c.THB1.7Bn



Utilising Big C’s superior expertise in retail to improve performance of BJC’s smaller retail banners

• The operational integration

progressing, with some Big C

• perations staff having been deployed

to overseas operations (M-Point, and B’sMart)



Leveraging resources across companies

• Streamlined key functions and are now

having a leaner and more integrated

• rganization



Combine purchasing power and optimise retail operations Fully integrate logistics operations across entire value chain Cross-utilise IT and back office infrastructure

Note

• 1. Projected annual recurring EBITDA level synergies upon full implementation

OPERATIONS UPDATE

Confidential

BJC / BIGC Operations – What does Big C stand for

27

Heart of the Community Customer Service Excellence Value Leadership

• One-stop-shopping

destination

• Part of local communities
• Active CSR programs

from corporate level to store level

• Focus on retail customers
• Outstanding customer

services

• Truly understand

customers’ needs

• No.1 value retailer
• World-class availability

OPERATIONS UPDATE

Confidential

BJC / BIGC operations – Clear strategic direction

28

Thai Retailer with Customers at our Heart A-1: Outstanding customer service A-2: Strong format positioning A-3: Clear category roles & strategy Strengthen the core A Operational excellence & financial discipline Strong supplier relations HR excellence & training Aligned organization & culture B-1: e-Commerce / omni- channel B-2: Mini Big C Franchise B-3: Housebrand quality & value Innovate for the future B C-3: Accelerated store expansion C-1: Renovation of stores & facilities C-2: Mall extensions & renovations Renovate and expand C C-4: International expansion

OPERATIONS UPDATE

Confidential

BJC / BIGC Operations

• In Q3 2016 we launched our new Vision to be “Thai retailer who has

customers in our heart” which was reflected through various activities: – Love@First Sight store audit competition to all employees. – Improve facilities of employees and customers. – Completed 23 store improvement renovations – Launched Customer Service Initiative to improve customer service levels – Our senior management conducted roadshows to all stores to educate staff about the initiative. – By November, 40,000 staff had completed customer service training – In 2017 we will continue improving our service levels and store facilities. Improving customer service

• In 3Q 2016 we made a strategic shift to focus to quality of sales:

– Discontinuation of unprofitable sales practices, for healthier margins and business sustainability. – Initiated a strong focus on Fresh Food sales to drive traffic for further spend conversion – Fresh food customers visit 4 times more often and spend 4 times more across all categories – In 2017 we will continue this strategy with fresh food playing a key role to increase customer traffic Customer centric retail sales

OPERATIONS UPDATE

29

Confidential

BJC / BIGC Operations (cont.)

1 Net opening 74 stores as we closed down 9 Mini Big C during the year

Format development

• 2016 was active year for our Mini Big C format:

– Robust like-for-like growth throughout the year – Reached critical mass  Profitable as format since early 2016 – Introduced franchise model with positive feedback

• In 2016 we improved our ecommerce operations by:

– Integrating Cdiscount, Big C Shopping Online, and BJC Mart operations under one team – Rebranded Cdiscount to Cmart in September 2016

• In 2017 our main focus will be in Hypermarket (expansion and improving existing

assets) and Mini Big C (expansion and format development).

• In 2016 we reached all our expansion targets by opening:

– 6 Hypermarkets (Including 2 MM Mega Market stores) – 4 Big C Market stores – 83¹ Mini Big C stores (Including 37 Franchise Stores)

• In 2017 we are ramping-up our hypermarket and Mini Big C expansion:

– 9 Hypermarkets – 2 Big C Markets – c.200 Mini Big C stores

Expansion

OPERATIONS UPDATE

30

Confidential

New Mini Big C store concept – first store opened in Soi Prachum

31

• Newly developed Mini Big

C store concept, featuring: – Modernized design in dark wood tones – Extended ready-to- eat ranges – Coffee-shop corner – Seating space for “eating-in” – Full service offer (bill payment, top- up, etc.) as in any

• ther Mini Big C

store

• First store opened in Soi

Prachum in Dec 2016

• Further roll-out in planned

for upcoming store

• penings

OPERATIONS UPDATE

Confidential

BJC / BIGC Operations (cont.)

32

Retail and Rental Area Q4 2016¹

# of stores: 190 Total space:

• c. 1,065,000 sqm

# of stores: 184 Total space: c.834,000 sqm

• In

2017 we are ramping-up

• ur

store renovations we target to complete

• 8 Extension renovations
• 4 Right-sizing renovations
• 42 store improvement renovations
• Renovations together with new store openings

are expect to add c.6% to our town center total space.

Renovations targets

Town Center developments

• 2016 was another resilient year for our town center business
• Steady occupancy rates throughout the year in 2016.
• In Q3 2016 we introduced store improvement renovation to

improve the ambience of our hypermarkets, for both our customers and employees.

• In 2017 we will enhance our customer offer with:
• Improved shopping mall atmosphere
• Adjusted tenant mix
• Unique anchors
• Promotions and events

OPERATIONS UPDATE

1 Big C Hypermarket and Big C Market stores

Confidential

Community focus

33

Recent CSR Activities

• Opening BJC Remote School

– On 20th December 2016, Her Royal Highness Princess Maha Chakri Sirindhorn presided over the Opening the “BJC 12 Building” of BJC Remote School Project. At Kamapado of Border Patrol Police School

• Heart to Heart Hugs

– BJC and Big C joined hands with the Cardiac Children Foundation of Thailand, under the royal patronage of HRH Princess Galyani Vadhana Krom Luang Naradhiwas Rajanagarindra, to launch an online charity campaign “Heart to Heart Hugs” in an attempt to generate greater awareness of "Big C Saves Hearts for Children” project which targets to raise money to provide urgently needed pediatric heart surgery to children. This charity project aims to support free pediatric heart surgery for 1,800 children born with congenital heart disease

• Big C joining Royal Project:

– Big C joined the Royal Project to organize the campaign of distributing fresh products from Royal Project at Big C, through 189 branches nationwide.

• Big C helps Thai farmers

– Big C arranged the campaign “Big C helps Thai farmers” by providing them opportunity to sell the rice at Big C stores. OPERATIONS UPDATE

Confidential

Big C 2017 – Supplier Conference

34

OPERATIONS UPDATE

• On 20th February, Big C
• rganized successful

supplier conference to share Big C’s new vision and strategy with suppliers

• Theme “The New Big C –

Your Preferred Partner”

• Commitment for growth,

service excellence, fairness and compliance to all suppliers

• Exhibition showcasing

retail innovations and future expansion plans

• 800 suppliers participated
• Over 2,000 people joined

the event

Confidential

Big C 2017 – Supplier Conference

35

Confidential

Big C 2017 – Supplier Conference

36

Confidential

Big C 2017 – Supplier Conference

37

Confidential

Big C 2017 – Supplier Conference

38

Confidential

Conclusion for 2016

39

Rapidly built up good momentum in synergy teams in Big C and BJC, exceeding our 2016 synergy target Conducted two fully subscribed Rights-offers, and raised 82 billion baht with two debenture issues. Year of significant change as we completed successful Big C acquisition and took next step to becoming a distribution and retailing leader in region.

CONCLUSION

Strong organic performance of BJC existing supply chains. Big C declining net income explained by various one-off items, with solid recurring performance

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Outlook for 2017

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Capturing Synergies: Confirming 2017 synergy target of c.600 million baht. Packaging Supply Chain: Good momentum continuing, and building additional capacity to meet the demand. Consumer Supply Chain: Expecting significant improvement especially from food and logistics businesses. Modern Supply Chain: Clear strategic direction in place to strengthen the core, innovate for future, and renovate and expand our store network. Health Care and Technical Supply Chain: Expecting strong performance especially from Technical Supply Chain with large back log of orders for 2017 and 2018.

CONCLUSION

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Q&A

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Q&A

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Q&A

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Berli Jucker Public Company Limited Berli Jucker House 99 Soi Rubia, Sukhumvit 42 Road, Phrakanong, Klongtoey, Bangkok 10110, THAILAND Website: www.bjc.co.th IR contacts Investor Relations Department E-mail: IR@bjc.co.th Website: www.bjc.co.th/en/investor-relations/investor-relations.php

• 1. Rami

Piirainen Ramip@bjc.co.th +66 2 367 1047

• 2. Tanaporn Teachaviwat

Tanaport@bjc.co.th +66 2 367 1189 For more information

Thank You