Grupo Nutresa S. A. Earnings results 3Q 2018 October 29, 2018 - PowerPoint PPT Presentation

Grupo Nutresa S. A. Earnings results 3Q 2018 October 29, 2018

Relevant events 8 Global highest scores in the food sector in: X HEALTH AND NUTRITION TAX ESTRATEGY ENVIRONMENTAL REPORT PACKING CLIMATE CHANGE RISKS RELATED TO STRATEGY WATER For the fourth consecutive year, Grupo Nutresa, is the second best company in Colombia in terms of reputation, and the first in the food sector. Methodology: Evaluations perfomed by • Leaders 4 X • Experts • Merit Evaluation • Merco Talent, Merco Consumption and Merco Digital • Perception and evaluation of 24 different sources • More than 51,000 surveys 2

Relevant events Grupo Nutresa acquires 60% of Productos Naturela Productos Naturela S.A.: • Colombian company dedicated to the production and distribution of healthy and functional products. • Currently has several healthy food lines with superfoods such as Spirulina, infusions, snacks, and supplements with other ingredients such as chlorophyll, turmeric, chia y flaxseeds. The transaction: • Capitalization for COP 3,221 million, equivalent to 60% of the capital. • The three founders will continue as shareholders and will remain managing the business with an entrepreneurial and innovative spirit and the backing of Grupo Nutresa. 3

Relevant events - Innovation in Health and Nutrition Pietrán free of preservatives and added nitrites , is a Pietrán Veggie Burger and Veggie Bites are part of a new successful innovation that integrates science and category of products composed of 100% vegetable protein. technology with the aim of continuing to provide These innovations target consumers who are looking for better options that promote healthy lifestyles for our differentiating products, and lighter alternatives with better consumers. nutritional profiles. 4

Relevant events - Innovation in Health and Nutrition Bénet , Grupo Nutresa´s expert nutrition brand launches a new category of specialized nutrition: gummies and soft capsules with vitamins and minerals. 5

3Q18 Sales Colombia & international Q: -0,6 -0,1% Colombia Sales 500 SALES PER P: +4,1 * 404,2 +4,3% +0,2% BUSINESS UNIT COP 1.446,6 +3,6% 400 Billion COP +6,0% Billion COP +5,6% 3Q - 2018 248,6 +5,8% 300 230,0 -1,8% 158,1 200 129,1 115,6 75,6 Percentage variation in volume 100 (Q) and prices (P) 0 % chg. YoY Billion COP -0,1% -1,8% Cold cuts Biscuits Ice cream Pasta Cárnico Galletas Chocolates Chocolates Coffee Café Retail Food Alim. al Helados Pastas Consumidor * Variation doesn’t include Retail Q: -0,5 Q: -3,7 Q: +4,1 Q: +4,5 Q: +5,5 Q: -6,8 Food P: +0,4 P: +4,1 P: +0,3 P: +1,4 P: +0,3 P: +5,4 International Sales -1,7% -0,9% USD 282,6 +0,5% 100 80,8 78,9 +8,5% COP 836,2 -0,03% 80 USD Million Billion COP 56,1 -6,5% 60 +2,6% -1,1% 32,9 40 18,9 13,7 20 % chg. YoY Million dollars 0 TMLUC Biscuits TMLUC TMLUC Galletas Chocolates Chocolates Coffee Café Retail Food Alim. al Cold cuts Cárnico Consumidor 6

3Q18 Sales Total SALES TOTAL SALES PER COP 2.282,8 +2,3% -0,6% BUSINESS UNIT Billion COP -0,3% +5,9% 500 463,6 3Q18 444,8 450 414,9 400 Billion COP +0,5% 350 -2,3% 300 255,2 +4,4% 238,9 250 185,1 +5,8% 200 -1,2% 150 115,6 76,3 100 50 0 +5,9% +0,5% +4,4% +5,8% -0,3% -0,6% -2,3% -1,2% Cold cuts Biscuits Chocolates Coffee Ice cream Pasta Carnico Galletas Chocolates TMLUC TMLUC Café Retail Food Alim. Al Helados Pastas Consumidor % chg. YoY Billion COP 7

Accumulated Sales Colombia & international +0,9% Q: +2,3 Colombia Sales SALES PER 1.400 1.214,3 P: +1,5 * +3,1% 1.200 +2,4% BUSINESS UNIT COP 4.213,9 +4,1% Billion COP 1.000 +4,4% Billion COP 2018 713,7 +7,9% 660,3 +4,4% 800 +0,6% 463,2 600 379,4 330,4 400 221,4 Percentage variation in volume 200 (Q) and prices (P) 0 % chg. YoY Billion COP Cold cuts Biscuits Chocolates Ice cream Pasta Cárnico Galletas Chocolates Coffee Café Retail Food Alim. al Helados Pastas Consumidor * Variation doesn’t include Retail Q: +1,2 Q: -0,4 Q: +3,4 Q: +1,2 Q: +3,6 Q: -0,6 Food P: -0,3 P: +2,8 P: -0,3 P: +3,1 P: +0,7 P: +1,2 International Sales +3,8% +4,5% USD 829,8 +4,0% 300 260,4 COP 2.395,4 +2,1% 230,9 250 +12,4% Billion COP USD Million 200 -12,0% 141,7 +2,9% 150 +12,9% 94,7 100 55,4 43,0 % chg. YoY Million dollars 50 0 TMLUC TMLUC Galletas Chocolates Café Alim. al Cárnico TMLUC Biscuits Chocolates Coffee Retail Food Cold cuts 8 Consumidor

Accumulated Sales Total SALES TOTAL SALES PER COP 6.609,3 +3,4% BUSINESS UNIT Billion COP +1,8% +2,5% 2018 1.600 1.338,4 +5,8% 1.327,0 1.400 Billion COP 1.123,9 1.200 +1,9% -3,1% 1.000 750,7 +5,8% 736,1 800 539,2 +4,4% 600 +1,1% 330,4 400 223,1 200 0 +1,8% +2,5% +5,8% +1,9% +5,8% +4,4% +1,1% -3,1% Cold cuts Biscuits Ice cream Pasta Chocolates TMLUC Coffee Cárnico Galletas Chocolates TMLUC Café Retail Food Alim. Al Helados Pastas Consumidor % chg. YoY Billion COP 9

Sales by region 2018 Other countries 2,2% USA 7,5% Dominican Rep. & Caribbean 1,8% Mexico 36,2% ,2% 63,8% ,8% 3,7% Venezuela INTERNATIONAL COLOMBIA Central America 0% 9,4% Ecuador 1,4% Colombia 63,8% Peru 2,0% Chile 8,1% 10

Market share Colombia + TMLUC Consolidated market share in Colombia: 59,3% -0,5% Cold Cuts Biscuits Chocolates Coffee TMLUC Ice Cream Pasta Retail Food 71,2% 54,0% 51,6% Chocolate Roast and ground ICB* Ice cream # 1 in confectionery 57,7% (A) coffee (A) ND Hamburgers -1,1% 0,3% +0.1% 69,7% (A ) -1,9% and 51,2% +0,7% Steakhouses -0,4% Pasta categories in 27,2% (B) Colombia -0,7% Hot chocolate 62,6% (B) Coffee -0,9% 19,4% (C) Soluble coffee (B) +1,1% 38,3% Milk modifiers - 2.0% Potato chips 23,0% (C) 16,6% (D ) # 1 in Ice Cream -0,8% +0,8% shops – Rep. Dom & CR Mexico ICB * Nuts 35,4 (E) 54,2% +1,7% -1,2% (D) #2 Private labels 6,9 % #2 Nestlé 11,6% #2 La Muñeca 31,8% (A) #2 Águila Roja 25,0% #3 Mondelez 10,4% (A) #2 Ferrero 8,7% (A) #2 Carozzi 41,0% (B) #1 Nestlé 45,1% (B) #2 Casa Lúker 25,9% (B) #1 Carozzi 41,2% (C) #1 Nestlé 72,6% (C) #1 Nestlé 67,8% (D) #2 Frito Lay 25,1% (D) #1 Frito Lay 53,1% (E) #1 Mondelez 54,0% *ICB= Instant Cold Beverages Source: Nielsen twelve month as of September 2018. % share as in value and change vs. same period last year 11

Raw materials Grupo Nutresa Commodities Index Cogs Breakdown 2018 ICGN - MERCADO ICGN - MERCADO ICGN - MERCADO ICGN - MERCADO 164 1,7% Poultry Milk 149 2,2% 144 Oils & fats 3,7% 134 Beef 3,8% 119 4,6% Sugar Other 39,2% 113 112 Cocoa 104 4,7% 107 Wheat 7,0% 95 86 89 92 87 87 7,1% Pork 15,4 86 Packaging mat. 83 74 Coffee 10,6% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 The technical specifications of the GNCI may be obtained at: https://www.gruponutresa.com/en/inversionistas/resultados-y- publicaciones/resultados-trimestrales/#2018-3 12

EBITDA 3Q18 18,4% +30,1% 13,4% 76,2 80 -0,6% 11,1% EBITDA 70 62,1 -2,4% Billion COP 60 13,9% COP 300,8 +10,2% 49,3 10,8% +4,1% 50 Billion COP 11,5% -9,7% 15,6% 40 33,3 -0,2% +56,7% 27,6 10,3% MARGIN 13,2% 30 21,2 +28,4% 18,1 20 7,8 10 0 +30,1% +4,1% +56,7% +28,4% -2,4% -0,6% -9,7% -0,2% Cold cuts Carnico Galletas Biscuits Chocolates Chocolates TMLUC TMLUC Coffee Café Alim. Al Ice cream Helados Pastas Pasta Retail Food Consumidor Convention: 11,1% EBITDA margin -2,4% % YoY variation 49,3 EBITDA in Billion COP 13

EBITDA Accumulated 2018 17,2% 13,6% 250 +26,4% 11,6% +9,8% EBITDA 193,6 -1,7% 200 180,1 Billion COP COP 840,8 +5,1% 13,4% 155,1 10,9% Billion COP +1,0% 150 11,0% -20,7% 100,8 12,1% -7,7% 11,3% MARGIN 12,7% 100 80,6 +26,7% 59,5 +5,9% 40,1 50 25,1 0 +9,8% +26,4% +1,0% +26,7% +5,9% -1,7% -20,7% -7,7% Cold cuts Cárnico Biscuits Galletas Chocolates Chocolates TMLUC TMLUC Coffee Café Alim. Al Ice cream Helados Pastas Pasta Retail Food Consumidor Convention: 11,6% EBITDA margin -1,7% % YoY variation 155,1 EBITDA in Billion COP 14