East African Breweries Plc · NSEKE:EABL
East African Breweries — H1 FY2026 Earnings Presentation
33 slides from East African Breweries's earnings presentation, January 2026
Slide 1: F26 HY Results
ner vee — ® % © eQqndly F26 HY RESULTS January 2026
Slide 2: Agenda
Agenda
Slide 3: Macroeconomic indicators: Kenya, Uganda, Tanzania
2025 A Dec-24 2026 F Jun-25 7.5% Dec-25 4.2% 4.5% 6.8% 6.3% 6.4% 3.9% 3.1% 3.4% 3.3% 4.9% 5.3% 3.0% 3.1% 3.0% Kenya Uganda Tanzania Kenya Uganda Tanzania Sep-25 Dec-24 Dec-25 Jun-25 Dec-25 13.0% 6.8% 13.4% 12.4% 10.0% 8.8% 3.9% 7.8% 8.3% 8.7% 2.6% 5.9% 0.2% 0.0% -1.0% Kenya Uganda Tanzania Kenya Uga
Slide 4: Dynamic operating environment
Dynamic operating environment eabl: Fiscal and tax reforms Illicit alcohol Election cycles Fiscal deficit reduction , . 60% of alcohol is illicit Stability in the region Higher domestic revenue
Slide 5: Consumer trends: purchasing power, value hunting, exploration
Lower purchasing power Value hunting Exploration Inflation impacting discretionary spend Alcohol share of wallet dropping Desire to explore new & unique offerings
Slide 6: Our Strategy
Our Strategy eabl To create the best performing, most trusted and respected consumer products company in East Africa Win in Mainstream Spirits Vibrant Explode Beer Premium Shape New Frontiers Aspirational and Accessible Innovations Digital Transformation Route to Reputation, s ly Footprint Efficient
Slide 7: Volume, Net Sales, PAT and DPS highlights
Volume Net Sales T +8% T +11% PAT DPS (KES) 7+38% 7 4.0
Slide 8: Continued growth momentum
Continued growth momentum eabl NSV (KES bn), HY F22 F23 F24 F25 F26
Slide 9: Organic growth of +9% at EABL
Organic growth of +9% at EABL NSV Growth (% YoY) +9% 21% of total EABL T +2% 62% of total EABL +35% 17% of total EABL
Slide 10: Vibrant beer
Vibrant beer 6ablt THIS IS WHAT HAPPENS WHEN NATURE Growth vs F25 CRAFTS A BEER T +9%
Slide 11: Explode premium
Explode premium eabl a) REPOSADO NIGHTS, Growth vs F25 TUESDAY VIBES. T +8%
Slide 12: Win in mainstream spirits
Win in mainstream spirits Growth vs F25 T +17% THE TRUE KENYAN FLAVOUR — LEMON & GINGER ‘SO LEMON, SO GINGER, SOUG, SO LIMITLESS
Slide 13: Shape new frontiers
Shape new frontiers eabl! [ SMIRNGEF Growth vs F25 READY 10 cD +630 jm SS. : T 63% | (3 F | f “ “DELIOUSNESS.
Slide 14: Exciting innovations propelling future growth
Exciting innovations i propelling future growth — eabl: Explode Premium New frontiers Win in Mainstr: eam aa eau = mae Usual with SMOKY WATERMELON & 6 MINT cides JUCKING|DELICIOL
Slide 15: Excellent commercial execution
Excellent commercial execution eabl: Advantaged RtC Winning at the Point of Sale THEPERFECT | eneuveroerau FOU] BIG TREE - BaMBUaL ENJOY. MUGS OF FORIUST CRAFTED BY GUIN!
Slide 16: Spirit of Progress, growing value together
Spirit of Progress, growing value together eablé Positive Drinking Inclusion and Diversity Grain to Glass LEARNING FOR LIFE™ a UGANDA 4 BREWERIES
Slide 17: Equip our people with the right capabilities and tools
Equip our people with the right capabilities and tools Robust Talent Investment Employee wellbeing
Slide 18: Continued investment in sports
Continued investment in sports eabl: Football Rugby Golf
Slide 19: Awards: regulatory, governance and financial reporting
MSK awards Regulatory and Corporate governance Financial reporting 7 Awards Top taxpayer award Excellence in Financial Reporting (FiRe) Award
Slide 20: Financials
‘Donfulio.
Slide 21: Strong delivery across key metrics
Strong delivery across key metrics eabl! Net Sales PAT T+1% = 14+38% FCF Total Debt 7 14Bn | -2Bn hunge IMPOR
Slide 22: Strong topline and profit growth
Strong topline and profit growth abl Net Sales 75.5 67.9 +1% A Cost of Sales (43.2) (39.8) +8% Gross Profit 32.3 28.1 415% & Expenses (13.8) (13.7) +0% Operating Profit (before Fx) 18.5 14.4 +29% -& Fx 01 12 92% EBIT 18.6 15.6 +20% A Net Finance Cost (2.2) (3.4) TH Profit Before Tax 16.5 12.1 436% I
Slide 23: Currency movements vs KES
FY26 P06: * UGX/KES 4.1% * TZS/KES 6.6% *Appreciation of TZS and UGX against KES for the six-month period to December 2025; Average rates
Slide 24: PBT bridge F25 to F26
19 13 16.5 A Kes bn 23 PBT F25 Volume Price/Mix COGS FX Finance PBT F26 Costs
Slide 25: Debt profile
11bn 11bn 17bn 15.3% Floating debt Fixed debt Effective cost of total debt
Slide 26: Strong balance sheet
Strong balance sheet Current Assets Current Liabilities FY25 Cash Stocks Debtors Income F26 H1 FY 25 Creditors Bank Borrowings F26 H1 tax OD Non-Current Assets Non-Current Liabilities 37-43 a4 | | 45.0 _ 3.6 B 16 FY25 Additions Depreciation FX F26 HI FY25 Borrowings —_ Deferred F26 HI income tax
Slide 27: Balance sheet ratios within target
Balance sheet ratios within target Net Debt/EBITDA Current Ratio ROCE (Board Target: <1.5) (CMA: >1x] (Board Target: 30%) FY23 FY24 FY F25 H1F26 FY23 FY24 FY F25 H1F26 FY23 FY24 FY F25 H1F26
Slide 28: +0.2bn F24 H1 F25 H1
+0.2bn (+7%) 6% 5% 5% F24 H1 F25 H1 F26 H1
Slide 29: Slide 29
Slide 30: H2 Priorities
H2 Priorities * Consumer Centricity * Smart investments * Productivity * Spirit of progress * People
Slide 31: Slide 31
Slide 32: Cautionary statement concerning forward-looking statements
Cautionary statement concerning forward-looking statements This document contains ‘forward-looking’ statements. These statements can be identified by the fact that they do not relate only to historical or current facts. In particular, forward-looking statements include all statements that express fo
Slide 33: EABL Celebrating Life
eabl: CELEBRATING LIFE
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