Investor Presentation First Quarter 2017 Control Group : 76% Market - PowerPoint PPT Presentation

Investor Presentation First Quarter 2017

Control Group : 76% Market Cap: US$11.9 bn (1) Float : 24% LTM1Q’17 Revenues (2) Countries Plants Routes Sales Centers POS Associates Brands Products US$14.0 Bn 23 172 ≈ 56,000 ≈ 1,700 ≈ 2.8 million ≈131 ,000 ≈100 ≈13,000 5 YR CAGR: 1.5% North America Mexico Latin America Europe Asia U.S. Canada _______________ 1. As of June 11, 2014 in US$ at the FX rate of 13.0Ps./US$ 2. 2013 Revenues in US$ at the average LTM FX rate ______________ 2 1. As of April 26, 2017. Expressed in US$ at the FX of $18.86 Ps./US 2 2. Converted to US$ with the average FX rate of that period

Where do we stand? A Global Branded Consumer Products Company • and the leader in the baking industry Remarkable growth story with financial stability • Investments on manufacturing and logistics capabilities • targeted to foster productivity Unyielding discipline on a conservative financial • policy Successful culture of business integration , recently in • North America, Latin America and Europe Relentless effort on innovation and sustainability to • increase brand equity 3 3

Successful growth story ✓ Long term view and a strict reinvestment policy 2017 ✓ Innovation and execution continue to drive organic growth 2016 Frozen Argentina ✓ Acquisitions have been a key component to gain global reach 2015 ✓ Leadership position in both, mature and high growth markets 2014 ✓ Accelerated international expansion during the last decade 2011 2009 00s 90s 80s 70s 50s 60s 1945 4 4

OUR VISION 5 5

KEY CAPABILITIES 1 2 3 4 5 6 6

Seasoned management team and sound governance Management Daniel Servitje Positioned the Company as market leader in the products and • Chairman of the Board countries where present Proven track record of stability and sustainable growth • Audit Committee and Results and Evaluation Finance & Planning Corporate Practices Committee Committee Successfully completed and integrated 46 acquisitions over • (6 independent (5 members, (7 members, 1 the last 10 years members) 2 independent) independent) Governance Daniel Servitje CEO Corporate Governance aligned with shareholders’ interest • 39% of board members are independent • Javier A. González Pablo Elizondo Gabino Gómez 3 corporate committees • Executive VP of Executive VP of Executive VP of Grupo Bimbo Grupo Bimbo Grupo Bimbo Social Responsibility Alfred Penny GB ranks among the most respected companies of the world (1) Guillermo Quiroz • President of Bimbo CFO Bakeries USA (BBU) Reputation built on a strong corporate identity and brand • equity Raul Arguelles Key component of GB’s corporate identity is its company-wide Reynaldo Reyna • Chief HR and Chief Global Services Social Responsibility Program Corporate Affairs Complies with WHO’s Global Strategy on Diet and Physical • Activity & Health 7 7 1. According to the Reputation Institute

Strong Power Brands 5 Billion Dollar Brands 2 >$500 million dollar brands 8

9 9

We are developing products and categories that follow new megatrends 10 10

A Well Balanced Business… Revenue and Adj. EBITDA Breakdown (1) North America • Sales: 52% • EBITDA: 44% China ( 2 ) Europe • Sales: 5% Mexico • EBITDA: 1% • Sales: 32% • EBITDA: 54% Latin America • Sales: 11% • EBITDA: 1% _______________ 1. LTM1Q’17 Revenues and Adj. EBITDA converted to US$ with the average FX rate of the period 2. China’s results included in Mexico 11 11

…with a strong leadership position in each market North America U.S. Canada • • Leader nationwide #1 in buns & rolls • • #1 in premium brands #1 in breakfast China (1) • • #1 in English muffins #2 in bread • Pioneer in developing • Strong regional brands packaged baked goods in Beijing and Tianjing Europe Mexico • #1 in bread & rolls in Spain • #1 in packaged baked goods • #2 in bread & rolls in Portugal • #2 in cookies and crackers • #1 in bagels in the U.K. • #2 in salty snacks • #2 in confectionary Latin America • #1 in packaged baked goods in 15 countries _______________ Source: Nielsen, Company filings 1. According to Company Research, included in Mexico´s results 12 12

Exceptional manufacturing capabilities 40+ Focus in low-cost State-of-the-art facilities million pieces are manufacturing and in all of our markets produced daily efficiency 13 13

World Class Distribution 79+ Guarantees quality Exceptionally serves all of Commitment to its distribution channels local execution and freshness Trips around the Earth daily 14 14

Strong Financial Performance Revenue Growth (1) Adj. EBITDA Growth (1) US$ millions US$ millions 14,064 14,020 1,570 1,530 1,467 13,818 1,370 1,351 13,786 1,070 13,514 13,164 2012 2013 2014 2015 2016 2017 2012 2013 2014 2015 2016 2017 GB 11.0% 8.1% 9.8% 9.8% 10.2% 11.6% Mexico 14.3% 13.8% 15.8% 16.7% 17.6% 18.4% North America 9.8% 6.4% 7.3% 6.2% 8.3% 9.4% Latin America 1.7% -1.1% 0.7% 3.9% 2.1% 1.0% Europe -18.6% -3.8% 1.2% -8.7% -0.9% -4.4% ____________________ 1.Figures converted to USD using the 12M average FX rate for each year, Figures after 2011 in IFRS 15 2. As of February 22 nd , 2016 15 3. Grupo BMV: Mexican IPC Index (Índice de Precios y Cotizaciones)

Cash flow stability across time allows long term planning Margins Evolution, % EBIT Margin Adj. EBITDA Margin Gross Margin 51.2 53.1 54.8 56.2 56.7 53.7 53.3 53.0 54.0 53.4 52.8 51.1 52.8 52.8 51.0 50.7 52.3 53.0 53.3 54.0 54.0 53.3 48.6 47.9 Integration/transformation efforts & IFRS 12.3 13.5 13.8 13.7 14.1 13.6 10.7 10.3 11.1 12.8 12.0 12.0 11.9 13.6 13.2 11.0 13.0 10.7 11.6 11.3 9.8 9.8 9.5 8.1 10.4 10.3 9.9 9.7 9.7 9.7 9.7 9.3 9.3 9.2 8.9 8.9 8.2 8.0 7.2 7.1 7.1 7.2 7.0 6.8 5.5 6.4 5.9 4.3 Best-in-Class execution combined with a relentless focus on low cost operation in a resilient industry results in financial stability over time ____________ * Figures after 2011 in IFRS 16 16

Responsible Financial Policies Dividend History Commitment to a strong Balance Sheet • MXN millions Ongoing financial flexibility through a • Ordinary Dividends US$2 billion multi-currency revolving Extraordinary Dividends credit facility , maturing on March 2019 1,646 (2) Reinvestment as the pillar of the • 1,364 company’s long term view 1,129 Conservative Risk Management policy • aligned with the company’s strategy 706 647 776 Mitigate exposure to raw material 588 • 541 541 470 cost fluctuation Conservative approach towards FX • - and interest rate risks - 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 ____________ 1. Dividend yield calculated with the stock price of the day the dividends were paid. 17 2. Paid in advance for 2014 and 2015 17 *FX rates: 2007: 10.84; 2008:10.52; 2009:13.36; 2010:12.22; 2011:11.55; 2012: 13.11; Apr 2013:12.28; Dec 2013: 13.00; Apr 2016: 17.31

Conservative Approach Towards Leverage Currency Mix Debt Amortization Profile (1) % US$ millions Total Debt: US$3,960 mm Avg. Tenor: 8.0 yrs. Avg. Cost: 4.5% 11% 4% 196 24% 61% 800 800 800 500 425 266 173 2017 2018 2019 2020 2021 2022 2023 2024 2026 ... 2044 Local Bonds Bank Loans Foreign Bonds CAD EUR MXN USD ____________ 1. Debt amortization profile as of March 31, 2016. Figures converted to US$ at the FX rate of 18.81 Ps./US$, Does not include subsidiaries debt of US $177 mm, includes only indebtness in Canada Bread 18 18

Conservative Approach Towards Leverage Total Debt/ Adj. EBITDA BBB Rating 3.3x (1) 3.2x (2) 3.1x 3.0x 2.9x 2.9x 2.5x 2.6x 2.3x 1.9x 2.3x 2.2x 1.5x 1.1x 1.2x 1.1x 0.9x 0.7x 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011* 2012 2013 2014 2015 2016 1Q'17 ____________ 1. Pro forma figures with Weston Foods acquisition 2. Pro forma figures with Canada Bread acquisition * Figures after 2011 in IFRS 19 19

Recent Acquisitions Producer of sweet baked goods and buns & rolls in Spain and Portugal Revenue growth of ≈ 70% in • Strong the region Brand Equity Synergies of €(40 – 50) • million (1) Integration expenses: ≈€70 • million High single digit pro-forma • EBITDA margin (1) (1) Expected to be achieved in 30 months 20 20

Recent Acquisitions Marroquin Company Producer of slow crafted • • Specialized in baked goods baked bread in Toronto, Estimated anual sales: Canada • US$ 11mm Estimated anual sales: • • 3 Plants CAD$ 18mm • • More than 200 Associates 1 Plant • • Around 100 Associates • (1) Expected to be achieved in 30 months 21 21

Annex: Financial Results by Region 22

Grupo Bimbo ✓ Higher sales in all regions Revenue Growth (1) MXN millions ✓ Solid organic growth in Mexico Net Sales 1Q’17 1Q’16 % Change ✓ FX benefit Grupo Bimbo 66,511 57,075 16.5 ✓ Donuts Iberia acquisition Adj. EBITDA MXN millions ✓ Lower raw material costs in Adj. EBITDA 1Q’17 1Q’16 % Change North America, Latam and Europe Grupo Bimbo 5,934 5,775 2.7 ✓ ZBB Adj. EBITDA (%) 1Q’17 1Q’16 Change pp Higher generals expenses Grupo Bimbo 8.9 10.1 (1.2) Integration expenses in Canada 23 23