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Introducing Kerry

• Kerry is a global leader in taste and nutrition

• UK/ROI leader in branded and customer branded chilled foods

• Revenue €6.1bn

• Enterprise value €15bn*

• Market capitalisation €13bn*

Note: *as at 7-8-20172

€6.1bnRevenue

€750mTrading Profit

Sales by Region

79% Taste & Nutrition

21% Consumer Foods

86% Taste & Nutrition

14% Consumer Foods

13% Asia-Pacific

42% Americas

45% EMEA

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Mission Statement

Kerry Group will be:

a world leader in Taste and Nutrition serving the food, beverage and pharmaceutical industries, and

a leading supplier of added value brands and customer branded foods to the Irish, UK and selected international markets

3

Through the skills and wholehearted commitment of

our employees, we will be leaders in our markets –

excelling in product quality, technical and marketing

creativity and service to our customers

We are committed to the highest standards of

business and ethical behaviour, to fulfilling our

responsibilities to the communities which we serve

and to the creation of long-term value for all

stakeholders on a socially and environmentally

sustainable basis

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Business Development

4

1972 1986 1988 1993 1998 2000 2004 2009 2010 2015

1982 1994 2001 2005 2009 2015

Kerry Formed

Listed on Irish Stock Exchange

Acquisition of Beatreme

in USEnter Latin

AmericaEnter

Asia-Pacific

Evolving Technology Platforms

Acquisition of Quest

Kerry Opens Innovation & Technical

Centre in Beloit1 Kerry

Programme

Acquisition of Denny

Acquisition of Mattessons Wall’s

Acquisition of Golden Vale

Acquisition of Noon Foods

Acquisition of Breeo Foods

Repositioned Kerry Foods Portfolio

Global Technology & Innovation Centres

Complete. Record year for acquisitions.

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Revenue and Adjusted EPS*

Note: * before brand related intangible asset amortisation and non-trading items | ** restated to reflect the adoption of IAS 19 (2011) Employee Benefits5

ADJUSTED EPS* 1986-2016 (Cent)

33

7

37

0

50

4

71

0

74

2

95

9

1,0

50

1,1

17

1,1

21

1,5

23

1,5

66

1,7

07

2,2

00

2,4

56

2,6

22

3,0

03 3,7

55

3,6

93

4,1

29

4,4

30

4,6

46

4,7

88

4,7

91

4,5

21

4,9

60

5,3

02

5,8

48

5,8

37

5,7

57

6,1

05

6,1

31

19

86

19

87

19

88

19

89

19

90

19

91

19

92

19

93

19

94

19

95

19

96

19

97

19

98

19

99

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

20

10

20

11

20

12

20

13

20

14

20

15

20

16

7.6 8.4 12

.7

16

.3

17

.6

21

.1

23

.0

25

.9

28

.9

35

.8

38

.7

46

.7

57

.4

68

.0

79

.2

87

.9

10

1.8

11

2.1

12

2.3

13

0.8

13

2.8

14

2.4

15

1.8

16

3.9

19

2.1

21

3.4

23

4.0

25

7.9

27

8.9

30

1.9

32

3.4

19

86

19

87

19

88

19

89

19

90

19

91

19

92

19

93

19

94

19

95

19

96

19

97

19

98

19

99

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

20

10

20

11

20

12

**

20

13

20

14

20

15

20

16

Revenue 1986-2016 (€M)

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Our Business Structure

6

Taste & Nutrition

Consumer Foods

Agribusiness

Americas Region

EMEA Region

Asia-Pacific Region

Ireland

United Kingdom

Selected International Markets

Ireland

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Kerry Sustainable Business Model – a proven strategy for growth

7

Market Leadership

Taste & Nutrition Consumer Foods

Holistic Partnerships

Sustainability

1 Kerry

TasteNutrition & General

WellnessDeveloping

Markets

Consumer

Channel

Customer

Geography

#1 #1

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Kerry Group – Worldwide Locations

8

Manufacturing Footprint

Global and Regional Technology & Innovation Centres

Manufacturing Plants

Sales Offices

Beloit

Campinas

San Juan del RioShanghai

Singapore

Naas

Australia

Belarus

Brazil

Canada

China

Costa Rica

Denmark

France

Germany

Guatemala

India

Indonesia

Ireland

Italy

Malaysia

Mexico

Netherlands

New Zealand

Panama

Philippines

Poland

South Africa

South Korea

Spain

Thailand

Turkey

UK

USA

Taste & NutritionKerry is the largest and most technologically advanced developer and provider of taste and nutrition solutions in the world. Kerry has strong customer alliances with leading global, regional and local food, beverage and pharmaceutical companies

€4.9bn

Revenue in 2016

Our leading-edge research in markets and consumer behaviour and our unparalleled expertise in the science of taste allows us to deliver products that nourish and delight consumers

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Our Taste & Nutrition Business Today

10

Technology End Use Market

40% Savoury & Dairy

24% Beverage

16% Pharma/Functional

Ingredients

15% Cereal & Sweet

5% Regional Ingredients

25% Beverage

17% Meats

9% Dairy

8% Bakery

7% Soups, Sauces

& Dressings

5% Confectionery

5% Cereal & Bars

5% Ice-cream & Desserts

5% Prepared Meals & Sides

5% Savoury Snacks

5% Pharma

2% Appetisers

2% Others

74% Developed

26% Developing

54% 30% 16%

Americas EMEA Asia-Pacific

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€65bn Ingredients and Flavours Market

Based on most recently published results for ingredients and flavours divisions only11

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• Kerry is the largest player in the

ingredients and flavours market

• Highly fragmented, but growing

market at 2% to 3% p.a.

• Benefits to being a scale player

• Consolidation potential

Revenue $m

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Kerry Model Delivering in a Changing World

12

Connected

Consumers

Transparent

Global but Local

Health & Wellbeing

Millennials

Taste Nutrition Industry Dynamics

Foodservice E-commerce Developing Markets

Pure & Simple

Authentic & Familiar

Pleasure & Indulgence

Fresh & Invigorating

Free from

Better-for-you

Good-for-you

Tailored-for-you

Clean label

Economic Growth

Globalisation/Nationalism

Channel Disruption

Currency Volatility

Raw Materials

Food-on-the-go

Snacking

Fresh & Clean

Customisation

Premiumisation

Indulgence

Digital

Connected

Convenience

Home Delivery

On Trend

Demographics

Urbanisation

Economic Growth

Food Security

Consumerism

Geopolitical

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Science & Technology Expertise: Delivering for Customers

13

No. 1 for investment in R&D Unique Holistic Technology Model

800+ food scientists

Continued investment in acquiring science and technology

Global Technology & Innovation Centre architecture rolled out

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Kerry’s Unique Taste & Nutrition Growth Model

14

Pure & Simple

Clean Label; Trusted;

No Artificial Ingredients,

Free From

Authentic & Familiar

Cooking Style; Authentic;

Taste of Time; Ethnic

Pleasure &

Indulgence

New Taste; Fine Dining;

Patisserie and

Coffeehouse Experiences

Fresh & Invigorating

Taste w/out Compromise;

Fresh; Healthy Halo;

Natural Mood

TasteFree From

Food Intolerance;

Low/No/Reduced Lactose;

Gluten Free; Clean/Cleaner Label

Better For You

Reduced Sugar;

Salt and Fat;

Balanced Choice

Tailored For You

Infant and Toddler; Performance

and Healthcare Nutrition;

Weight Management

Good For You

Protein Fortification; Carbohydrate

Quality; Healthy Lipids;

Micronutrient Fortification;

Naturally Good For You

Nutrition

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Kerry Taste Research Programme

15

Technology Citrus Natural/ Sugar & Salt Dairy Taste Savoury TasteFocus Extracts Perception Smoke & Grill Yeast

Pure & SimpleConsumer

Analysis

Process

Applications

Pleasure & Indulgence

Fresh & Invigorating

Authentic & Familiar

Partners

Sensory Excellence, Molecular Analytical, Regulatory

Distillation / Extraction / Reduction / Encapsulation / Reaction / Fermentation / Compounding

Beverages, Bakery, Confectionery, Dairy, Meats, Soups & Sauces, Snacks, Prepared Meals, Pharma

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Kerry Nutrition Research Programme

16

Lifestage Infant & Children & Early Healthy SeniorsToddlers Adolescents Adulthood Aging

Partners

Weight Management

Allergies and Immunity

General Wellness

Digestive Health

Muscle Health

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Kerry: Leading Partner to Foodservice Channel

17

• Largest, most integrated portfolio

• Expertise from ideation to launch

FUNCTIONAL & NUTRITIONAL INGREDIENTS

TASTE SOLUTIONS

DAIRY & CULINARY SYSTEMS

MEAT SYSTEMS

AUTHENTIC CULINARY

FOUNDATIONS

CEREAL SYSTEMS

SWEET SYSTEMS

BEVERAGE SYSTEMS

Natural Preservation

Systems

Specialty Proteins

& Starches

Enzymes

Natural Fermentates

Emulsifiers

& Texturants

Intact Proteins

Protein Hydrolysates

Protein Fractions

Infant Nutritional Proteins

Prebiotics & Probiotics

Nutritional Lipids

Immunity Actives

Sweet Flavours

Savoury Flavours

Dairy Flavours

Natural Extracts

Taste Modulators

Dry Cheese

Dry Dairy

Yoghurt

Dairy Sauces

Frozen Sauces

Broths & Stocks

Herb Reductions

Fermented Ingredients

Oleoresins

Snack Seasonings

Marinades

Smoke Systems

Bread Crumbs

Cracker Meal

Batters

Breaders

Cold-Form

Extrusion

Meat, Vegetable & Herb

Reductions

Smoked & Grill

Stocks & Bouillons

Flavours

Puffing

Extrusion

Co-Extrusion

Granola

Clustering

Toasting

Soy Flour

Jet Cooking

Nuggets

Sprinkles

Chocolate

Compounds

Pralines

Cookie Pieces

Variegates

Enrobing

Panning

Aseptic

Agglomeration

Encapsulation

Functional Lipids

Syrups

Brands

Foodservice Solutions

• Customised menu and branded solutions

• Holistic partnership model

• Kerry Technology & Innovation footprint facilitates global, regional, local development

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Developing Markets: Kerry’s Footprint for Growth

18

• Greater China

• India

• Indonesia

• Malaysia

• Philippines

• Thailand

• Vietnam

• South Africa

• Nigeria

• Turkey

• Middle East

• Russia

• Eastern Europe

• Brazil

• Mexico

• Central America

LATAMEMEAASIA-PACIFIC

2008

19%2011

21%2016

26%

• Dynamic growth economies

• Population growth

• Growing consumer spend

• Global, regional and local customer base

• Local taste preference

• Demand for convenience

Leveraging Kerry Global Technologies and Expertise

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Consumer FoodsKerry Foods is a market leading supplier of added-value branded and customer branded chilled food products to the Irish, UK and selected international markets

€1.3bn

Revenue in 2016

Kerry Foods portfolio of consumer branded products includes over 20 high profile brands across three major market sectors; Meat & Savoury Products, Meal Solutions and Dairy Products

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Consumer Foods at a Glance

20

Technology

Meat Products

Meal Solutions

Dairy Products

Region

Rest of Europe

Ireland

GB

Customers

Brand

Private Label

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Diversified Product Portfolio

21

• Largest branded dairy supplier in Ireland

• #1 spreads brand in Ireland

• #1 cheese brand in Ireland

• #1 kids cheese snack in GB

• #1 customer brand dairy spreads and RTE cheese in GB

MEAT PRODUCTS

€5.5bn

DAIRY PRODUCTS

€4.5bn

MEAL SOLUTIONS

€4.3bn

• #1&2 sausage brands in GB

• #2 (fastest growing) meat snacking brand in GB

• #1&2 breakfast product brands in Ireland

• #1 cooked meat brand in Ireland

• #1 GB customer brand supplier of

– chilled ready meals

– frozen ready meals

– ready to cook

Segment Key Product Market Position

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Consumer Foods Strategic Growth Pillars

22

We will use consumer-led insight and innovative technology to develop compelling propositions that delight shoppers in our core categories –meat, dairy and meals

We will ensure our products are readily available to all our consumers, across all channels, when ever and where ever they shop

We will work collaboratively with our customers to ensure we create products they, and their consumers, love to buy

We’re committed to expanding our footprint beyond the UK and Ireland into new markets, to reach new customers

GeographyCustomerChannelConsumer

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Kerry Foods: Continued Innovation for Today’s Consumer

23

Authenticity/Flavour Snacking New Health ‘Free from’ Convenience

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SustainabilityKerry is committed to the highest standards of business and ethical behaviour to fulfilling our responsibilities to the communities which we serve and to the creation of long term value for all stakeholders on a socially and environmentally sustainable basis

Environment Sustainability

Marketplace Sustainability

Workplace Sustainability

Community Sustainability

Our Sustainability Framework

www.kerrygroup.com/sustainability

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Kerry’s ‘Towards 2020’ Programme

• A comprehensive programme for sustainable growth

• Four critical areas of focus which reflect global concerns and issues of material importance to our

shareholders, employees and suppliers, translated into actions that help direct our day-to-day activities

• Directed by Senior Leadership through the Kerry Sustainability Council, with functional responsibility for

implementation that embeds sustainability within the business

25

EnvironmentClimate Change

Resource Efficiency

Waste Reduction

MarketplaceNutrition and Health

Responsible Sourcing

Product Quality

WorkplaceOur People

Business Ethics

Health and Wellbeing

CommunitySocial Impact

Economic Development

Shared Purpose

Groupwide time-bound, quantified targets established to measure progress

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Group Long Term Targets (5 Years 2013–2017)

26

Growth

VOLUME GROWTH

Taste & Nutrition 4% to 6% p.a.

Consumer Foods 2% to 3% p.a.

Group 3% to 5% p.a.**

(** assumes market growth rate of 2% to 3% p.a.)

MARGIN EXPANSION

Taste & Nutrition 50 bps p.a.

Consumer Foods 20 bps p.a.

Group 30 bps p.a.

(plus an additional 100 bps from Kerryconnect project)

Adjusted EPS 10%+ p.a. by:

Return

CFROI 12%+ ROAE 15%+

ROACE 12%+

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Future Prospects: Sustained Underlying Growth

• Challenging currency headwinds and raw material price increases

• Unique Taste & Nutrition model delivering solid innovation

• responding to consumer trends

• delivering across channels

• speedy differentiated innovation for ‘out-of-home’ consumption trends

• Developing market strategies – strong platforms for growth

• Kerry Foods well positioned in consumer growth categories

Note: * before brand related intangible asset amortisation and non-trading items (net of related tax)27

Taking into account increased currency translation headwinds of 4% and a 2% improvement in

underlying performance at constant currency rates, we now expect to achieve growth in adjusted*

earnings per share of 3% to 7% on a reported basis

Significant organic and acquisition growth opportunities

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