Podravka D.d. · ZSE:PODR

Podravka D.d — Podravka Group — CEE Investment Opportunities, June 4th and 5th, 2024

36 slides from Podravka D.d's conference presentation, June 2024

  1. Slide 1: Podravka Group

    Podravka Group PodravkaY GRUPA CEE Investment Opportunities, June 4th and 5th, 2024

  2. Slide 2: Agenda: The Company, Investment highlights, 2023 results, 1Q 2024 results

    Pod ravka? GRUPA The Company Investment highlights 2023 results 1Q 2024 results

  3. Slide 3: Podravka Group at a glance

    Podravka Group at a glance 77 years of experience in Food 52 years of experience in segment Pharmaceutical segment Today, Podravka Group Sales revenues in 2023 Portfolio with more than : ; has its companies 713.8 1,800 different products in 1 7 countries EURm More than 6. 1 oo employees More than 4.

  4. Slide 4: Long-standing tradition in the production of food and pharmaceutical products

    Long-standing tradition in the production of food and pharmaceutical products Podravia? 1947 Wolf brothers workshop became publicly owned under Podravka name (e)BELUPO Condiments, dried and sterilized vegetables, etc. production I 1957 Famous Podravka soups production established Production of ‘meat

  5. Slide 5: Market presence and distribution

    Market presence and distribution o Theleading food company in the Adria region o Strong presence in Central and Eastern Europe [icsoveg Own distribution Export to more than networkin 16 60 countries countries around the world Podravia?

  6. Slide 6: Factories

    Factories Vegeta and soups factory — Koprivnica, Croatia Pasta factory — Koprivnica, Croatia e@ Baby food and cream spreads factory — Koprivnica, Croatia Mill — Koprivnica, Croatia Snacks factory — Koprivnica, Croatia Danica production — Koprivnica, Croatia Kalnik factory — Varazdin, Croatia Mirna f

  7. Slide 7: Institutional investors provide a stable ownership structure

    Institutional investors provide a stable ownership structure Management Board LEAD, © 8 g Ljiljana Sapina Davor Doko Martina Dalié Milan Tadié Ivan Ostojié MB member MBmember MBpresident MBmember MBmember Ownership structure as at 31 March 2024 and Supervisory Board President * Damir Grbavac> former

  8. Slide 8: 2023 revenues and EBITDA

    2023 revenues EURm 2023 EBITDA EURm Food 554 Food 52 Pharma 160 Pharma 39 Group 714 Group 92

  9. Slide 9: Sales revenues by business units and categories

    Sales revenues by business units and categories in EURm 710,0 +4,1% 690,0 667,2 42 6700 = 667,2 650,0 Revenues BU Culinary 2022 Revenues LURm 105.47 Revenueshare 14.8% Podravia? +12,2% BU Soups 47.01 6.6% +9,2% 6765 BU Cereals, Snacks and Beverages 46.62 6.5% Food +3,8% +1,7% v49% +1,9% 43 o7 13 = =

  10. Slide 10: Agenda: Investment highlights

    Pod ravka? GRUPA The Company Investment highlights 2023 results 1Q 2024 results

  11. Slide 11: One-off items (in EURm)

    (in EURm) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1Q 24 Value adjustments Severance payments Other Total net one-off items

  12. Slide 12: Good results ensure a stable dividend

    Good results ensure a stable dividend Dividend and dividend yield" 3,50 3.2 100% 4.00 mmm dividend per share in EUR 9,0% dividend yield 8,0% 2,50 7.0% 2,00 6.0% 5.0% 1,50 40% 1,00 3.0% 2,0% 0,50 tox 0,00 00% 2016 2017. «2018 = 2019-2020. 2021S 2022S 20238-2024 Dividend policy of Podravka In = Podrav

  13. Slide 13: Investment cycle of the Podravka Group

    Investment cycle of the Podravka Group inEURm 100,0 90,0 80,0 70,0 68,9 60,0 52,6 50,0 40,0 30,0 22,4 20,0 10,0 0,0 2021 2022 2023 90,5 2024P The investment cycle of the Podravka Group is in full swing and is being implemented in accordance with the Podravka Group's Business Strategy until 2025. By

  14. Slide 14: Agenda: 2023 results

    Pod ravka? GRUPA The Company Investment highlights 2023 results 1Q 2024 results

  15. Slide 15: Sales revenues increase in both segments

    Sales revenues increase in both segments in EURm 714 800 700 600 500 667 Group PodravkaGroupin 1 - 12 20231: * Ownbrands > 6.0% higher sales, * Othersales > 15.9% higher revenues, * TotalPodravka Group 7.0% higher sales revenues. Sales revenues by segment Food Food segmentin 1 - 12 2023": + Own bran

  16. Slide 16: Sales revenues increase of almost all business units

    Sales revenues increase of almost all business units in EURm +15,9% +12,7% +13,8% 10,4 7138 +3,8% +1,7% (2,0%) 7100 5 +1,9% 9 +9,2% +4,9% 2% i +4,1% 43 07 (0,5) 690,0 39 2,3 13 — 5.1 — — 667.2 42 a 6700 — 650,0 Revenues 2022 BUCulinary BUSoups BUCereals, © BUCreamy | BUBakery BU Basicfood BU Meat BU

  17. Slide 17: Sales revenues growth of almost all regions

    Sales revenues growth of almost all regions Region's performancein 1 - 12 20231: + Markets of Croatia and Slovenia (+6.0%) > Food segment revenues are 6.4% higher, primarily Markets of Croatia and 7 a q a Slovenia 49,4% due to sales increase of the business units Basic food and Cereals, Snack and Be

  18. Slide 18: Food segment — higher revenues and normalized profitability

    Food segment — higher revenues and normalized profitability Food segmer REPORTED NORMALIZED" (in EURm) 2022 2023 A % 2022 2023 A % Sales revenue 522.2 553.6 31.5 6.0% 522.2 553.6 31.5 6.0% Gross profit 164.6 168.7 4.2 2.5% 164.6 168.7 4.2 2.5% EBITDA 61.7 52.5 (9.3) (15.0%) 51.2 52.5 1.3 2.5% EBIT 3

  19. Slide 19: Pharmaceutical segment - higher revenues and profitability

    Pharmaceutical segment - higher revenues and profitability Pharma segm REPORTED NORMALIZED" (in EURm) 2022 2023 A % 2022 2023 A % Sales revenue 145.0 160.2 15.2 10.5% 145.0 160.2 15.2 10.5% Gross profit 72.2 80.0 78 10.8% 72.2 80.0 78 10.8% EBITDA 32.1 StL) 7.3 22.9% 32.1 39.5 7A 22.9% EBIT 22.7 30.

  20. Slide 20: Podravka Group — higher revenues and normalized profitability from both segments

    Podravka Group — higher revenues and normalized profitability from both segments Podravka Group REPORTED NORMALIZED' (in EURm) 2022 2023 A % 2022 2023 A % Sales revenue 667.2 713.8 46.7 7.0% 667.2 713.8 46.7 7.0% Gross profit 236.7 248.7 12.0 5.1% 236.7 248.7 12.0 5.1% EBITDA 93.9 91.9 (1.9) (2.0%)

  21. Slide 21: Business expenses influenced by price movements of raw materials, packaging and energy

    Business expenses influenced by price movements of raw materials, packaging and energy, and investments in improving the material status of employees Bu: Cost of goods sold (COGS) 8.1% General and administrative expenses (G&A) 6.6% Sales and distribution costs (S&D) (0.4%) Marketing expenses (MEX) (

  22. Slide 22: Continuous improvement of debt indicators

    Continuous improvement of debt indicators in EURm)' 2022 2023 Currency structure of debt as at 31 December 2023 Financial debt? 84.0 57.4 Cash and cash equivalents 21.9 42.5 C2K0,5% Net debt 62.1 14.9 BAM 2,4% Interest expense 0.7 0.7 Other 1,5% Net debt / normalized EBITDA 0.75 0.16 Normalized EBIT

  23. Slide 23: Net cash flow from operating activities as % of sales

    • • • 17,0% 16,0% 15,0% 14,0% 13,0% 12,0% 11,0% 10,0% • 1-12 2022 1-12 2023

  24. Slide 24: PODR vs CROBEX and CROBEX10, 2023

    PODR CROBEX CROBEX10 100% 93,7% 80% 60% 40% 33,9% 28,0% 20% 0% 31.12.22 31.01.23 28.02.23 31.03.23 30.04.23 31.05.23 30.06.23 31.07.23 31.08.23 30.09.23 31.10.23 30.11.23 31.12.23

  25. Slide 25: Agenda: 1Q 2024 results

    Pod ravka? GRUPA The Company Investment highlights 2023 results 1Q 2024 results

  26. Slide 26: Sales revenues increase in both segments

    Sales revenues increase in both segments in EURm Sales revenues by segment ™1-32023 m1-32024 200 4 192 100 4 o4 Group Food Pharma PodravkaGroupin 1 - 3 2024': Food segmentin 1 - 3 2024': Pharmaceuticals segment in 1 - 320241: * Ownbrands > 7.0% higher sales, + Own brands > 8.8% higher sales due to t

  27. Slide 27: Sales revenues increase of almost all business units

    Sales revenues increase of almost all business units in EURm 731% (14.1%) | [ +15,0%] [9%] [Le] [413.5% | 47 191.8 191,0 19, $14,8% 12 (2,1) 13 (0,1) (0.6) 0.9 Zz 18 181,0 5.7 175,9 171,0 Revenues 1Q BUCulinary BUSoups BUCereals, BUCreamy BU Bakery BU Fruits andBU Basic food BU Meat BU Fish Prescrip

  28. Slide 28: Sales revenues growth of almost all regions

    Sales revenues growth of almost all regions Eastern Europe 5.7% Central Europe 11,2% Western Europe and Overseas 13,8% im) Markets of Croatia and Slovenia Southeastern Europe Western Europe and Overseas Central Europe Eastern Europe Podravka Group Percentages in the text relate to performance in 1 -

  29. Slide 29: Food segment - higher revenues and profitability

    Food segment - higher revenues and profitability Food segmer (in EURm) Sales revenue Gross profit EBITDA EBIT Net profit after MI Gross margin EBITDA margin EBIT margin Net profit margin after MI REPORTED NORMALIZED" 1Q 2023 1Q 2024 A % 1Q 2023 1Q 2024 A % 131.7 146.5 148 11.3% 131.7 146.5 14.8 11.3

  30. Slide 30: Pharmaceutical segment - higher revenues and profitability

    Pharmaceutical segment - higher revenues and profitability Pharma segm REPORTED NORMALIZED" (in EURm) 1Q 2023 1Q 2024 A % 1Q 2023 1Q 2024 A % Sales revenue 44.2 45.3 11 2.5% 44.2 45.3 11 2.5% Gross profit 22.2 23.4 1.2 5.2% 22.2 23.4 1.2 5.2% EBITDA 12.8 14.0 1.2 9.3% 12.8 14.0 1.2 9.3% EBIT 10.6 Wi

  31. Slide 31: Podravka Group — higher revenues and normalized profitability from both segments

    Podravka Group — higher revenues and normalized profitability from both segments Podravka Group REPORTED NORMALIZED' (in EURm) 1Q 2023 1Q 2024 A % 1Q 2023 1Q 2024 A % Sales revenue 175.9 191.8 15.9 9.1% 175.9 191.8 15.9 9.1% Gross profit 62.5 76.6 14.0 22.5% 62.5 76.6 14.1 22.5% EBITDA 27.3 a) 10.6

  32. Slide 32: Business expenses influenced by investments in improving the material status of employees

    Business expenses influenced by investments in improving the material status of employees Busi ana orale 1-32023 EPORTED NORMALIZED’ Key highlights of expensesin 1 - 3 2024: * Costof goods sold (COGS): Cost of goods sold (COGS) 1.7% t 1.6% t + increased by 1.7% relative to the comparative period, pr

  33. Slide 33: Continuous improvement of debt indicators

    Continuous improvement of debt indicators inEURm)' 2023 Financial debt? 57.4 Cash and cash equivalents 42.5 Net debt 14.9 Interest expense 0.68 Net debt / normalized EBITDA 0.18 Normalized EBIT / Interest expense 87.3 Equity to total assets ratio 73.9% Key highlights: = Financial debtincrease > due

  34. Slide 34: Net cash flow from operating activities as % of sales

    • • • Net cash flow from operating activities as % of sales 18,0% 17,58% 17,0% 16,0% 15,0% 14,0% 13,65% 13,0% • 1-3 2023 1-3 2024

  35. Slide 35: PODR vs CROBEX and CROBEX10, 2024

    PODR CROBEX CROBEX10 15% 10% 5% 0% -5% -10% 31.12.23 31.01.24 29.02.24 31.03.24

  36. Slide 36: Contact

    Contact Podravka Inc. Ante Staréevica 32, 48 000 Koprivnica www.podravka.hr Investor Relations ir@podravka.hr 36

Podravka Group — CEE Investment Opportunities, June 4th and 5th, 2024 on 6ix