Capital Markets Day
Tuesday 3 June 2025
Strategic overview
Euan Sutherland
CEO
2
H1 2025 Investor Insight Programme
Cumbernauld
April
Milton Keynes
May
London - CMD
June
Gain a deeper understanding of our strategy
3
Meet & engage with our leadership team
Agenda
13:30-13:45
13:45-14:45
Auditorium
Strategic overview
Front of the chiller
Euan Sutherland
CEO
Dino Labbate Ckief Commeícial Officeí
Commercial Team
15:00-16:00
Breakout rooms
Back of the chiller
Innovation
3300 mmiin3ss
Karl Donnan Ckief Supplv Ckai3 Officeí
Kieran McGrath MD of Commeícial Gíowlk, Digilal a3d I33ovalio3
Supply Chain Team
16:00-16:15
16:15-16:30
Auditorium
Investment case
Summary
Q&A
Ewan Dytch Coípoíale Fi3a3ce Diíecloí
Euan Sutherland
CEO
Exec Leadership
16:30-17:30
Lobby
FU KI
drinks reception
4
Presenting today
Strategic overview
Euan Sutherland
Ckief E…eculive Officeí
Front of the chiller
Dino Labbate
Ckief Commeícial Officeí
Kenny icholson
IR -BRU Bía3d
Diíecloí
Lisa Lucy
McKenna Henderson
Rubico3 & E3eígv Maíkeli3g Bía3d Diíecloí Diíecloí
Steven Simpson
Busi3ess U3il Diíecloí -Field Sales
Keir Stewart
Head of Peífoíma3ce 63alvlics
Back of the chiller
Innovation
Investment case
Karl Donnan
Ckief Supplv Ckai3 Officeí
Satish Thamire
Diíecloí of Slíalegic Capilal Píogíamme
Scott eil
McGlashan Sanderson
Sile Diíecloí Sile Diíecloí
Cumbeí3auld Millo3 Kev3es
Kieran McGrath
MD - Commeícial Gíowlk, Digilal a3d I33ovalio3
Ewan Dytch
Coípoíale Fi3a3ce Diíecloí
5
Senior leadership in attendance
Board
Mark Allen
Ckaií
ick Wharton
o3-E…ec Diíecloí
Zoe Howarth
o3-E…ec Diíecloí
Louise Smalley
o3-E…ec Diíecloí
Executive Leadership
Stuart Lorimer
Ckief Fi3a3ce & Opeíali3g Officeí
Julie Barr
Ckief Ḻegal a3d Suslai3abililv Officeí
Alison Gowen
Ckief People Officeí
Commercial
James Quemby
Relail Sales Diíecloí
Clara Shand
MD - Hospilalilv & I3leí3alio3al
6
AG Barr - An ambitious branded beverage business
150 years old Tíack íecoíd of success & íesilience
UK-based branded beverage business with significant gíowth potential
Puípose:
Building great brands.
For everyone.
Integrated end-to-end business
Make
Move
Market
Sell
Behave
r
esponsibly
Ambitious to gíow and enhance shaíeholdeí value
7
15 years ago
(veaí lo Ja3-l0)
IR -BRU
Rubico3 Olkeí
32%
£201m
Reve3ue
54%
14%
5 years ago
(veaí lo Ja3-?0)
IR -BRU
Rubico3 FU KI
Olkeí
33%
£256m
Reve3ue
44%
7%
16%
Today
(veaí lo Ja3-?5)
IR -BRU
Rubico3 FU KI
Boosl
Olkeí
24%
33%
12%
£420m
Reve3ue
10%
21%
A track record of organic and acquisitive growth
Opeíali3g maígi3 | l4.8% |
PBT | £?7.9m |
ROCE | l9.?% |
Maíkel Cap | £300m+ |
Opeíali3g maígi3 | l4.9% |
PBT | £37.4m |
ROCE | l6.l% |
Maíkel Cap | £600m+ |
Opeíali3g maígi3 | l3.6% |
PBT | £58.5m |
ROCE | ?0.l% |
Maíkel Cap | £750m+ |
Diversified portfolio strength
Long-term organic and acquisitive growth
Highly profitable & excellent returns
8
Strategic growth opportunityBack of the chiller
9
Front of the chiller
1
A single-minded focus on 1 long term goal
Long Term Goal
Flywheel of consistent growth
10
2
2 non-negotiables in our pursuit of consistent growth
on-negotiables
Great taste Great value
11
3
A commitment to creating value through 3 financial outcomes
Financial outcomes
Revenue - mid single digit growth Operating margin - mid teens Return on capital employed - 20% +
12
4
4 enablers which make our plan possible
Enablers
Rock solid governance
Talent investment & development Disciplined capital investment Organisational simplification
13
5
5 growth platforms that will drive our success
Growth platforms
More from Core brands
Excellence in Sales & Marketing execution Supply Chain leverage
Innovation M&A
14
Front of the chiller
Dino Labbate
Ckief Commeícial Officeí
Kenny icholson
IR -BRU Bía3d
Diíecloí
Lisa McKenna
Rubico3 & E3eígv Bía3d Diíecloí
Lucy Henderson
Maíkeli3g Diíecloí
Steven Simpson
Busi3ess U3il Diíecloí -Field Sales
Keir Stewart
Head of Peífoíma3ce 63alvlics
15
We have a clear Commercial plan that underpins our growth ambition
Ambition
To be the fastest gíowing scale drinks business in the UK
1
Brands
2
Channels
3
Innovation
4
Technology
5
Leadership
16
Br1ands
Building brilliant brands is our 1 ambition and focus
Building Great Brands. For Everyone.
Distinctive Relevant Available
Iconic Identity Consistent Voice
Breakthrough Communications
Right pack right occasion
Accessible to all
Excite Through Innovation
Maximise Distribution
Build Visibility in Outlets
Optimised Promotions
Best Tasting Great Value
17
Br1ands
Our brand growth platforms build on these core fundamentals
Scale IR -BRU ationally
Explode Rubicon into mainstream Soft Drinks
Expand Boost into grocery
Bigger, bolder brand platforms
18
Ch2annels
Clearly defined channels and positive relationships with key customers
Retail
Grocery | Discounters | ECOM |
19
Impulse
Convenience | Wholesale | High Street & Travel |
Out of Home & International
Licensed | Foodservice | Leisure |
Ch2annels
Our growth in Retail has been strong, we aim to accelerate this
Retail
Winning pack price architecture
Harmonised Discount channel growth
Reve3ue £m 300
?50
?00
l50 l00 50
0
20/21 21/22 22/23 23/24 24/25
Skaíe Gíowlk
2%
Relail skaíe*
250
Utilisation of consumer data with retail partners
Continued growth & evolution of E-Com
Ambition
20 *Source: Circana, 2025
Ch2annels
Maintain our Impulse strength and build on rock solid foundations
Impulse
Industry recognition & reputability
Flavours and new news
Reve3ue £m 300
?50
?00
l50 l00 50
0
20/21 21/22 22/23 23/24 24/25
Skaíe Gíowlk
7%
Impulse skaíe*
200
Regional sales resource Pack price architecture
Ambition
21 *Source: Circana, 2025
Ch2annels
Out of home is where we can build brands and connect with consumers
Out of Home
Reve3ue £m l00
Ambition
75
90
Partner Supplier
Maintain partnerships with ational scale groups
Target future winners and regional groups
2025
50
?5
0
20/21 21/22 22/23 23/24 24/25
Reliable Supplier
Focus on with food occasions
Expand into leisure and entertainment
22
Inn3ovation
7.Supercharge the day
8%
6.Social gatherings
9%
5.Morning ritual
10%
Innovation plans will be centred around our category growth strategy
Innovation focus areas
Existing brand and liquid development
Expand into adjacent occasions and categories
1.Functional
hydration
4.Me Time
11%
3.Food pairing
12%
36%
2.Pick me up
14%
Future focused health & wellness
Emerging spaces
23
Tec4hnology
Technology, data and insight will be a fundamental driver of our growth
Photo Recognition + AI
Category Strategy
Promotional Analytics
RGM Capability
24
Lea5dership
We are investing in our people and our long term strategic partners
Commercial Leadership Team
Our Select Partners
Dino Labbate
Ckief Commeícial Officeí
Kieran McGrath
MD - Commeícial Gíowlk, Digilal a3d I33ovalio3
Lucy Henderson
Maíkeli3g Diíecloí
Clara Shand
MD - Hospilalilv & I3leí3alio3al
Paul Barker
Impulse Sales Diíecloí
James Quemby
Relail Sales Diíecloí
25
BUILDING IRN-BRU INTO A UK BRAND
VIsION
TO BE THE MOsT TALKED ABOUT sOFT DRINKs BRAND IN THE UK
PURPOsE
TO LIFT THE sPIRITs OF THE NATION
INNOVATION/ BRAND STRETCH
AMBITION
TO BE A TOP 10 UK sOFT DRINKs BRAND
ZRN-BRU BRAND GROWTH IN 2026
TOP 5 GRdWING GRdfiN
F5ATSIMTEERS SHARE
UP FROM*6
MTAHRKAENT INdEF6CW ITNOSCO5TLlA%ND
Souíce: volume, value a3d skaíe gíowlk ?0?4 vs ?0?3
AMBITIOUs PLAN TO GROW TO £180M, LED BY ENGLAND & WALEs
£
200m
150m
100m
50m
103M
118M
119M
128M
138M
180M
2 NEW FLAVOURs WIGIG MARCH -
Xx 2024
330ML sINGLE NATIONAL
PMP & 8 PACKs OPPORTUNITY
REVENUE
0
F20/21 F21/22 F22/23 F23/24 F24/25 AMBITIO