Asahi Group Holdings Ltd · TSE:2502

Asahi — Investor Presentation (2010)

18 slides from Asahi's investor presentation, 2010

1. Slide 1: FPUCCAILAAaH

   FPUCCAILAAaH

2. Slide 2: ………………………….….…………………………….…….…… ………………………….….…………………………….…….…… 2 ……….….……………………….…….……….…… 3 ………………………….….………………………….……

   ………………………….….…………………………….…….…… 1 ………………………….….…………………………….…….…… 2 ……….….……………………….…….……….…… 3 ………………………….….………………………….…….… 4 5 ………………………….….………………………….… 6 7 ………………………….….………………………….… 8 ………………………….………….….…………… 9 ………………………….….……………….…….…… 10 ………………………….….………………………….… 11 ………….….……………………………..….…….…… 12

3. Slide 3: Copyright © ASAHI BREWERIES,LTD. All rights reserved.

   2010 2012 10 09 1,200 14,895 15,000 9,633 9,855 222 2% 14,641 14,627 14,725 14,464 3,152 2,969 +184 6% 1,005 963 +41 4% 1,000 978 785 +193 25% 14,000 127 153 26 17% 14,895 14,725 +170 1% 800 847 785 +62 8% 953 110 80 +31 39% 945 600 887 870 13,000 46 37 +9 26% 828 11 28 +17 - 40 46 +6 - 400 ( 77) (

4. Slide 4: 11 (E) (E) Copyright © ASAHI BREWERIES,LTD. All rights reserved.

   2011 11 10 1,200 14,895 14,900 15,000 9,575 9,633 58 1% 14,725 10.0% 14,641 14,627 3,278 3,152 +126 4% 1,076 1,005 +71 7% 9.0% 1,000 864 978 114 12% 8.0% 107 127 20 16% 7.2% 14,000 14,900 14,895 +5 0% 7.0% 800 6.5% 6.4% 5.9% 900 847 +53 6% 6.0% 5.6% 132 110 +22 19% 1,070 953 50 46 +4 8% 600 13,000 5

5. Slide 5: Copyright © ASAHI BREWERIES,LTD. All rights reserved.

   2010 3 Copyright © ASAHI BREWERIES,LTD. All rights reserved.

6. Slide 6: Copyright © ASAHI BREWERIES,LTD. All rights reserved.

   2010 1-12 23,048 3.6% 50.2% 11,665 3.6% 50.6% + 0.0% 7,807 17.7% 17.0% 1,875 25.8% 24.0% 2.6% 15,063 + 8.7% 32.8% 3,682 +18.9% 24.4% + 2.1% 45,917 2.8% - 17,222 2.8% 37.5% + 0.0% 100% 50.6% 32.8% 17.0% 37.5% 50% 24.4% 50.2% 24.0% 0% 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 94 95 96 97 98 9

7. Slide 7: Copyright © ASAHI BREWERIES,LTD. All rights reserved.

   2011 11 11/10 11,080 11,265 1.6% % 11,300 11,608 2.7% % 1,140 1,145 0.4% % 1,450 1,863 22.2% 2,540 2,143 +18.5% 2 3% 770 717 +7.4% 500 - - 4,250 3,644 +16.6% 17,000 17,115 0.7% 5 Copyright © ASAHI BREWERIES,LTD. All rights reserved.

8. Slide 8: Copyright © ASAHI BREWERIES,LTD. All rights reserved.

   6 Copyright © ASAHI BREWERIES,LTD. All rights reserved.

9. Slide 9: Copyright © ASAHI BREWERIES,LTD. All rights reserved.

   2,000 7% 8% 1,500 6% 5% 153 148 115 107 483 434 124 1,000 273 275 259 304 322 312 +2.1% 346 +10.9% 4% 357 304 +16.9% 322 +5.9% 314 306 312 346 500 115 107 7.3% 549 527 70 +79.8% 100 +43.4% 503 483 434 1,284 +4.3% 1,309 +1.9% 0 07 08 09 10 11 7 Copyright © ASAHI BREWERIES,LTD. All rights reserved.

10. Slide 10: Copyright © ASAHI BREWERIES,LTD. All rights reserved.

    130 2011 9 9 8 97 31 38 20 05 06 07 08 09 10 11 778 808 779 649 641 665 +24 675 +10 322 327 349 323 332 307 25 277 30 1,100 1,135 1,128 972 973 972 1 952 20 549 586 595 501 510 511 +1 496 15 122 99 130 101 81 34 47 26 8 92 130 100 109 137 175 +38 183 +8 763 815 825 710 728 720 8 705 15 337 320 303 2

11. Slide 11: PET

    PET 17.6% 17.6% 16.3% 16.0% 14.8% 9.1% 9.4% 9.3% 7.4% 8.4% 8.7% 9.2% 6.9% 7.2% 7.2% 6.9% 6.7% 6.9% 7.1% 6.4% 5.0% 4.1% 4.3% 3.8% 3.6% 9 Copyright © ASAHI BREWERIES,LTD. All rights reserved.

12. Slide 12: Copyright © ASAHI BREWERIES,LTD. All rights reserved.

    2011 1,400 4.6% 4.6% 1,200 3.9% 3.8% 3.8% 1,000 0 176 167 160 800 8 13 400 366 600 362 344 324 400 471 500 200 388 441 354 0 10 Copyright © ASAHI BREWERIES,LTD. All rights reserved.

13. Slide 13: Copyright © ASAHI BREWERIES,LTD. All rights reserved.

    2010 6.5% 32% 啤 20% 啤 73% 啤 51% 啤 55% 啤 29% 58% 100% 100% % % 11 Copyright © ASAHI BREWERIES,LTD. All rights reserved.

14. Slide 14: 2011 E P&N Copyright © ASAHI BREWERIES,LTD. All rights reserved.

    ( $) 1,000 870 80 813 814 749 758 800 60 600 40 400 67 48 49 51 43 20 200 0 0 2007 2008 2009 2010 2011 E 2010 1-11 1% 6% 2% 6% 4% 44% 9% P&N 10% 19% 12 Copyright © ASAHI BREWERIES,LTD. All rights reserved.

15. Slide 15: Copyright © ASAHI BREWERIES,LTD. All rights reserved.

    2010 09 10 10 9 ( ) ( ) 20,000 18,026 2,000 16,023 16,348 +11% 16,000 13,709 1,600 1,893 +21% 11,833 1,589 12,000 10,020 1,200 1,525 +22% 8,000 989 800 886 1,253 4,000 633 400 517 700 437 558 304 0 0 2005 2006 2007 2008 2009 2011 13 Copyright © ASAHI BREWERIES,LTD. All rights reserved.

16. Slide 16: US$ 1-9 3,000 2,542 1,924 2,000 1,519 1,093 1,000 253 203 146 104 0

    US$ 1-9 3,000 2,542 41 28 1,924 2,000 1,519 1,093 702 287 1,000 253 203 146 104 0 2005 2006 2007 2008 2009 26% 40% (6.5% 32% 14 Copyright © ASAHI BREWERIES,LTD. All rights reserved.

17. Slide 17: EBITDA

    2015 2 2.5 10 20 30 EBITDA 12 EBITDA 10 15 Copyright © ASAHI BREWERIES,LTD. All rights reserved.

18. Slide 18: Asahi

    Asahi LOEB. DPb57,

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