Fraser and Neave : (2.12mb)

VOLUNTARYBUSINESSUPDATES

for nine months ended 30 June 2023 ("9M2023")

(Unaudited)

IMPORTANT NOTICE

Certain statements in this Presentation constitute "forward-looking statements", including forward-looking financial information. Such forward-

looking statements and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual

results, performance or achievements of F&NL, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements and financial information. Such forward-looking statements and financial information are based on numerous assumptions regarding F&NL's present and future business strategies and the environment in which F&NL will operate in the future. Because these statements and financial information reflect F&NL's current views concerning future events, these statements and financial information necessarily involve risks, uncertainties and assumptions. Actual future performance could differ materially from these forward-looking statements and financial information.

F&NL expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement or financial information contained in this Presentation to reflect any change in F&NL's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement or information is based, subject to compliance with all applicable laws and regulations and/or the rules of the SGX-ST and/or any other regulatory or supervisory body or agency.

This Presentation includes market and industry data and forecast that have been obtained from internal survey, reports and studies, where appropriate, as well as market research, publicly available information and industry publications. Industry publications, surveys and forecasts generally state that the information they contain has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such included information. While F&NL has taken reasonable steps to ensure that the information is extracted accurately and in its proper context, F&NL has not independently verified any of the data from third party sources or ascertained the underlying economic assumptions relied upon therein.

1. Unless specifically stated otherwise, all figures in this presentation are quoted in Singapore Dollars	2
2. Due to rounding, numbers in tables or charts may not always add up to 100% or total value

FINANCIAL HIGHLIGHTS

9M2023 Financial Report (Unaudited)

$1,579.9M

(+ 5.6%)

REVENUE

$151.9M1

(+ 12.9%)

PAT

$176.3M	11.2%
(- 2.1%)	(- 88 bps)
PBIT	PBIT MARGIN

$89.6M	6.2 CTS
(- 7.9%)	(- 7.5%)
ATTRIBUTABLE PROFIT2	EARNINGS PER SHARE2

Nine months ended 30 June 2023	1. Included a $26.8M fair value gain on the remeasurement of Cocoaland Holdings Bhd	3
	2. Before fair value adjustment and exceptional items

FINANCIALANALYSIS

9M2023Revenue (by Business)

KEY TAKEAWAYS

• All business segments contributed to revenue

growth; 9M2023 revenue grew 6% (+11% in constant

currency)

• Soft Drinks, Beer and Dairies grew on the back of

higher selling prices, successful execution of festive

campaigns, new product launches and higher

export sales, despite unfavourable forex translation

• Dairies Thailand and Dairies Malaysia top-line grew

9M2022

Beverages

Dairies

P&P

Others

9M2023

$1,495.5m

F&B

(+2%)

+ $84.4m (+ 6%)

$1,579.9m

• 7%
• 0%
• 6% NM

2% (+8% in constant currency); Soft Drinks Malaysia

and Beer grew 11% (+21% in constant currency)

• Strong book distribution and retail sales drove P&P's

top-line

• Others grew on the back of additional contribution

from Cocoaland

9M2023 Revenue			9M2022		9M2023
10% 4%
		$1,495.5M		$1,579.9M
29%		Beverages
	29%	29%
$1,579.9M		Dairies	60%	57%
		P&P	10%	10%
57%		Others	1%	4%

Nine months ended 30 June 2023	•	Beverages comprises Soft Drinks and Beer	4
•	P&P denotes Publishing & Printing

FINANCIALANALYSIS

9M2023Revenue (by Geography)

9%
20%
	9M2023 Revenue
31% $1,579.9M	(by Geography)

40%

				9M2022		9M2023
				$1,495.5M		$1,579.9M
			Singapore	21%	20%
			Malaysia	38%	40%
			Thailand	33%	31%
			Others	7%	9%

Nine months ended 30 June 2023

KEY TAKEAWAYS

Malaysia's revenue grew

• Soft Drinks and Dairies contributed to top-line growth
• Increased prices, successful execution of festive campaigns, stronger export volume and new product launches boosted sales
• Additional contribution from Cocoaland

Thailand's revenue was impacted by unfavourable forex translation

• Domestic revenue grew, supported by higher selling prices

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