Betterware De Mexico, S.a.p.i. De C.v. · NYSE:BWMX
Betterware De Mexico, S.a.p.i. De C.v — BeFra Group — Merger or Acquisition (January 2026)
18 slides from Betterware De Mexico, S.a.p.i. De C.v's merger presentation, January 2026
Slide 1: Tupperware LatAm Investor Presentation
LATAM Investor Presentation January 2026
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Limited Overlap Cautionary Statement Regarding Forward-Looking Statements Matters discussed in this presentation may constitute forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assu
Slide 3: Agenda
1. Acquisition Summary 2. Overview of Tupperware LatAm 3. Strategic Rationale 4. Closing Remarks 3
Slide 4: BeFra to acquire Tupperware's operations in LatAm
1 Limited Overlap Value Creation Acquisition Summary for Shareholders BeFra to acquire Tupperware’s operations in LatAm Beauty Food Containers Home Organization LATAM Acquisition of operations and manufacturing plants in Mexico and Brazil which are the region’s core markets, with scale and strong pr
Slide 5: Transaction Summary
1 Limited Overlap Acquisition Summary Transaction Summary ▪ BeFra to acquire 100% of Tupperware’s LatAm businesses for US$250 million, consisting of US$215 million in cash and US$35 million in BeFra shares, on a debt- free, excess-cash-free basis at Closing Acquisition Summary ▪ The acquisition incl
Slide 6: Leverage Impact
1 Limited Overlap Acquisition Summary Leverage Impact The transaction includes US$215mm of debt financing for the Tupperware LatAm acquisition, expected to conservatively increase BeFra’s leverage from 1.6x to 1.9x Net Debt / EBITDA 2025E Net Debt 2025E Financial Debt Outstanding 2025E Net Debt / EB
Slide 7: Overview of Tupperware LatAm
1. Acquisition Summary 2. Overview of Tupperware LatAm 3. Strategic Rationale 4. Closing Remarks 7
Slide 8: Tupperware LatAm at a Glance
1 2 Limited Overlap Value Creation Overview of Tupperware for Shareholders LatAm Tupperware LatAm at a Glance 1 147 distributors and +200,000 independent sales representatives 2 Vertically integrated with two top-tier production plants in Mexico and Brazil 3 Consistently high EBITDA margins and effi
Slide 9: Most profitable and resilient Tupperware business; opportunity to reignite growth
2 Limited OverviewOverlap of Tupperware LatAm The region represented the most profitable and resilient business of Tupperware globally; with this bolt-on acquisition BeFra will seek to reignite innovation and growth High Potential to Increase Revenue1 – US$mm Unlocking the Full Potential of the LatA
Slide 10: Regional leader in kitchen and food preservation solutions
2 Limited OverviewOverlap of Tupperware LatAm Regional leader in kitchen and food preservation solutions, recognized for its quality, and sustainability, combining strong heritage and consumer trust LatAm Sales per Category LATAM 1471 2701 212k1 Category % of Total Sales – 1H25 Distributors Team Lea
Slide 11: Vertically integrated model drives profitability and cash flow
2 Overview of Tupperware LatAm Vertically integrated business model drives strong profitability and cash flow generation, supported by a debt-free balance sheet $291 $280 $269 Revenue 122 US$mm 108 94 169 172 175 2024 Sep 2025 LTM 2025E Mexico 31% 30% Brazil 25% EBITDA EBITDA Margin US$mm $87 $81 $7
Slide 12: Strategic Rationale
1. Acquisition Summary 2. Overview of Tupperware LatAm 3. Strategic Rationale 4. Closing Remarks 12
Slide 13: Foundational Drivers of Sustained Growth, Market Expansion, and Long-Term Value Creation
1 3 Limited Overlap Value Creation Strategic Rationale for Shareholders Foundational Drivers of Sustained Growth, Market Expansion, and Long-Term Value Creation Significant untapped potential across Latin America, where a well-executed operational turnaround and disciplined 1 Growth commercial strat
Slide 14: A Legacy of Direct-to-Consumer Innovation: 30+ Years of Expertise
3 Strategic Rationale A Legacy of Direct-to-Consumer Innovation: 30+ Years of Market-Shaping Expertise Luis Campos Andrés Campos Santiago Campos BeFra’s Chairman of the Board BeFra’s CEO M.D. of Betterware Mexico • Prior to founding BeFra, Mr. Luis Campos held senior leadership roles at Tupperware,
Slide 15: Proven Track Record of Value Creation Through Strategic Acquisitions
3 Strategic Rationale Proven Track Record of Value Creation Through Strategic Acquisitions Key Investment Highlights ▪ The US$255mm acquisition considered a ~5.5x EV/EBITDA in 2022 acquired ▪ The acquisition has delivered strong value creation, assuming the same EBITDA multiple the transaction repre
Slide 16: Transaction expected to be immediately accretive, boosting EPS by ~40%
3 Strategic Rationale The transaction is expected to be immediately accretive, boosting EPS by ~40% for BeFra shareholders 2025E1 US$ mm BeFra Tupperware Mexico Tupperware Brazil Combined EBITDA $136 $73 $8 $217 Interest Expense (28) 0 0 (28) Interest Expense (Acq. Debt) 0 0 0 (19) D&A (20) (4) (3)
Slide 17: Closing Remarks
1. Acquisition Summary 2. Overview of Tupperware LatAm 3. Strategic Rationale 4. Closing Remarks 17
Slide 18: Closing Remarks
1 4 Limited Closing Overlapfor Shareholders Value Creation Remarks 11 A unique opportunity to acquire a high-quality brand for the LatAm market Expected to create immediate shareholder value and positions the business for strong, 22 long-term growth while maintaining BeFra's leverage below 2.0x LATA