#1BARRY CALLEBAUT Roadshow presentation 9-Month Key Sales Figures 2022/23 July 2023#2BARRY CALLEBAUT Cautionary note Certain statements in this presentation regarding the business of Barry Callebaut are of a forward-looking nature and are therefore based on management's current assumptions about future developments. Such forward-looking statements are intended to be identified by words such as 'believe,' 'estimate,' ‘intend,' ‘may,' 'will,' ‘expect,' and 'project' and similar expressions as they relate to the company. Forward-looking statements involve certain risks and uncertainties because they relate to future events. Actual results may vary materially from those targeted, expected or projected due to several factors. The principal risk factors that may negatively affect Barry Callebaut's future financial results are disclosed in more detail in the Full Year Report 2021/22 and include, among others, general economic and political conditions, foreign exchange fluctuations, competitive product and pricing pressures, the effect of a pandemic/epidemic, a cyber event or a natural disaster, as well as changes in tax regimes and regulatory developments. The reader is cautioned to not unduly rely on these forward-looking statements that are accurate only as of July 13, 2023. Barry Callebaut does not undertake to publish any update or revision of any forward-looking statements.#3BARRY CALLEBAUT Barry Callebaut at a GLANCE 3 9-Month Key Sales Figures 2022/23 - Roadshow presentation#4BARRY CALLEBAUT Barry Callebaut at a glance - Who are we? Creating chocolate happiness, one joyous moment at a time We are the heart and engine of the chocolate and cocoa industry 37.4 coloa million HORIZONS premiums generated from Cocoa Horizons products (in CHF) FOREVER CHOCOLATE 120 years of Big enough to Chocolate experience matter, small enough to care CCC 4 9-Month Key Sales Figures 2022/23 - Roadshow presentation 1 out of 2 products sold containing 100% sustainable cocoa or chocolate FY 2021/22: Sales revenue 8.1 billion in CHF 26 CHOCOLATE ACADEMYTM Centers More than 225,000 chocolate professionals trained online and offline in 2021/22 66 factories worldwide More than 175 years of chocolate heritage Sales volume 2.3 million in tonnes More than 13,000 Employees Selling to 144 countries Volume growth +5.3% EBIT (recurring) 624.7 million in CHF#5Customers BARRY CALLEBAUT BC at a glance - What do we do? We are present in the key parts of the cocoa and chocolate value chain Barry Callebaut's Core Activities Sourcing Cocoa Origination Cocoa Processing Cocoa Product and Chocolate Manufacturing Food Manufacturers Gourmet COCOA SOURCING PROCESSING THE BEANS COCOA LIQUOR =54% #46% COCOA POWDER +SUGAR, MILK & OTHERS *SUGAR, MILK, FATS & OTHERS 101 COCOA BUTTER +SUGAR, MILK, FATS & OTHERS 000 000 POWDER MIXES COMPOUNDS/FILLINGS CHOCOLATE COUVERTURE 5 9-Month Key Sales Figures 2022/23 - Roadshow presentation h From the cocoa bean to chocolate and cocoa products#6BARRY CALLEBAUT Barry Callebaut at a glance - What do we do? A global footprint and local service: over 65 factories worldwide and strong roots in origin countries Cocoa & Chocolate factories CHOCOLATE ACADEMY™ Centers Total world harvest (2022/23): 4,980t MT Rest of the World 13% Cocoa factories in countries of origin and chocolate factories close to our customers. With our 27 CHOCOLATE ACADEMYTM Centers worldwide we are at the pulse of any trends in the industry. 6 9-Month Key Sales Figures 2022/23 - Roadshow presentation Indonesia 4% Brazil 4% Nigeria 6% Cameroon 6% Ecuador 8% Ghana 15% Source: ICCO Quarterly Bulletin of Cocoa Statistics, May 31, 2023 West Africa is the world's largest cocoa producer Côte d'Ivoire 44%#7BARRY CALLEBAUT Barry Callebaut at a glance - offering and business model A broad offering with cost-plus model for majority of business Cocoa Products 20%* of volume Food Manufacturers 67%* of volume % share: Customer: Small, medium and global Small, medium and global Food Manufacturers Pricing: Profit Levers: Products: Food Manufacturers Market prices, cost-plus (partly) Global set-up, Customer/ Product mix, Combined ratio Bensdorp CABOSSE NATURALS cost-plus Gourmet & Specialties 13%* of volume Professionals, Food Chains, Distributors, HORECA Price List Customer/Product mix, Economies of scale MADE OF 2 DARK CHOCOLATE 75% VAN HOUTEN Expansion global brands, Adjacent products, Innovation/Sustainability A CHOCOLATE ACADEMY ONLINE cooa HORIZONS NXT BFD-85 1840 MADE OF 3 MILK CHOCOLATE M Passing on the cost of raw materials to customers underpins profit stability by mitigating the volatility impact of main raw materials * Percentage of FY 2021/22 Group sales volume 7 9-Month Key Sales Figures 2022/23 - Roadshow presentation#8BARRY CALLEBAUT BC at a glance - Market Leadership A strong global market leader Cocoa grinding capacity (KMT) Barry Callebaut Cargill Olam Guan Chong Fuji Oil ECOM Mondelez Ferrero JB Foods Golden Harvest Industrial Chocolate (open market - KMT) Barry Callebaut Cargill Fuji Oil Puratos Clasen Baronie Irca Guan Chong Unigrà Krüger Others Market impact (M) MAGNUM VEGAN CLASSIC M RUBY BAR FRUIT KIND ECLIF Others Note: Cargill including Aalst, Fuji Oil including Harald and Blommer, Guan Chong including Schokinag Source: BC proprietary estimates. CACAO CALLEBAUT BARRY BELOHIM PIL -Since 1842- 8 9-Month Key Sales Figures 2022/23 - Roadshow presentation M DOUBLE ATINO TODORO TONYS CHOCOLONELY. LIFEBAR PROTEIN |本满足 * CABOSSE NATURALS#9BARRY CALLEBAUT HIGHLIGHTS 9-Month Key Sales Figures 2022/23 9 9-Month Key Sales Figures 2022/23 - Roadshow presentation FOR you#10BARRY CALLEBAUT Highlights 9-Month Key Sales Figures 2022/23 Volume in line with declining market . Sales volume down -2.7% in the first nine months, in a . . challenging market environment Sales revenue of CHF 6.3 billion, up +3.6% in CHF (+8.1% in local currencies) Continue to work towards flat volume growth for Full Year 2022/23 of and remain confident to deliver solid operating profit ⚫ Full strategic update will be provided with the Full-Year Results 2022/23 publication on November 1, 2023 1 Source: Nielsen, volume growth excluding e-commerce - 26 countries, September 2022 to April/May 2023, data subject to adjustment to match Barry Callebaut's reporting period. Nielsen data only partially reflects the out-of- home and impulse consumption. 10 9-Month Key Sales Figures 2022/23 - Roadshow presentation#11BARRY CALLEBAUT Highlights 9-Month Key Sales Figures 2022/23 Key milestones September 2022 S&P Global S&P upgrades credit rating of Barry Callebaut to 'BBB' with outlook 'stable' Sustainalytics ranks Barry Callebaut as #1 in Food for managment of ESG risks. SUSTAINALYTICS ESG INDUSTRY TOP RATED Buserellence Center Opening of Business Excellence Center in Malaysia January 2023 October 2022 First local chocolate production footprint in North Africa through partnership with Attelli in Morocco November 2022 BARRY CALLEBAUT Groundbreaking Ceremony Wieze chocolate factory back to normal capacity Barry Callebaut and Nestlé partner on large scale agroforestry project in Côte d'Ivoire March 2023 2ND GENERATION CHOCOLATE Barry Callebaut introduces the second generation of chocolate New CHOCOLATE ACADEMYTM in New York, US April 2023 11 9-Month Key Sales Figures 2022/23 - Roadshow presentation Peter Feld taking over as new CEO 18 NY Groundbreaking of new chocolate factory in Neemrana, India Add fresh ambition to the sustainability targets, building on Forever Chocolate December 2022 CDP recognized Barry Callebaut as leader in corporate action and transparency on deforestation and climate change FORE ER CHOCOLATE MAKING SUSTAINABLE CHOCOLATE THE NOOM Announcement of next investment phase of expansion in Chatham factory, Ontario (CAN) CDP A LIST 2021 FORESTS BARRY CAREBUT MARK. BUT-TO-SIT Groundbreaking new cocoa bean warehouse and dispatch facility in Pasir Gudang, Malaysia May 2023 Unilever Extension of strategic supply agreement with Unilever July 2023#12BARRY (CALLEBAUT Highlights 9-Month Key Sales Figures 2022/23 Chocolate volume facing high comparator and challenging market environment Cocoa Chocolate FY 2020/21 +4.6% FY 2021/22 +5.3% 9M 2022/23 -2.7% 9M 2022/23 excluding Wieze +18.4% +8.4% +8.9% +8.0% +8.5% +6.0% +2.7% +2.0% +6.5% +2.6% +21.2% +9.4% +9.6% +10.2% +7.4% -0.3% -2.6% +2.6% +5.1% -5.5% -13.1% -0.2% -1.2% -4.0% -1.8% -4.3% -5.8% -1.3% -3.0% -0.5% -2.2% -2.4% -5.1% Q1 20/21 Q2 20/21 Q3 20/21 Q4 20/21 Q1 21/22 Q2 21/22 Q3 21/22 Q4 21/22 Q1 22/23 Q2 22/23 Q3 22/23 +0.8% +1.7% +2.5% +3.4% +1.5% -1.0% -1.8% - 0.7% -1.5% impact -1.3% 1 +1.2% +0.3% Market volume growth¹ Source: Nielsen, volume growth excluding e-commerce - 26 countries, September 2022 to April/May 2023, data subject to adjustment to match Barry Callebaut's reporting period. Nielsen data only partially reflects the out-of-home and impulse consumption. 12 9-Month Key Sales Figures 2022/23 - Roadshow presentation#13BARRY CALLEBAUT Highlights 9-Month Key Sales Figures 2022/23 Key growth drivers % of total Group volume 39% Emerging Markets 35% Outsourcing, Long-term Partnerships 13% Gourmet & Specialties % volume growth vs. prior year +0.0% Key growth drivers crucial to continuously outperform the market 13 9-Month Key Sales Figures 2022/23 - Roadshow presentation +0.7% -6.3% CALLEBAUT NXT FAIRYSFRES DFM-42 423 25-5564 SICAO Zene SIN AZÚCAR Chocolate amarge o Con Moto#14BARRY CALLEBAUT Highlights 9-Month key Sales Figures 2022/23 Stabilized volume decline in Regions EMEA and Americas. Continued shrinkflation affected volume in Region Asia Pacific Group Sales volume: 1,704,240 tonnes Americas 459,740 t 27% Global Cocoa 345,118 t 20% EMEA 780,269 t 46% Volume growth BC Market¹ EMEA -3.5% -2.7% Americas -4.6% -0.9% Asia Pacific 119,114 t 7% Asia Pacific -2.0% +2.7% Global Cocoa +1.6% n/a 1 Source: Nielsen, volume growth excluding e-commerce - 26 countries, September 2022 to April/May 2023 data subject to adjustment to match Barry Callebaut's reporting period. Nielsen data only partially reflects the out-of-home and impulse consumption. 14 9-Month Key Sales Figures 2022/23 - Roadshow presentation#151.00 0.50 0.00 4.50 4.00 3,50 3.00 2.50 2.00 1.50 BARRY CALLEBAUT Financial review Cocoa combined ratio and raw material price development European Combined Ratio -6-month forward ratio Raw material price development سامہ Aug-12- Aug-13- Aug-14- Aug-15- Aug-16- Aug-17- Aug-18- Aug-19- Aug-20- Aug-21- Aug-22- For cocoa processors, profitability depends on the ratio between input costs (price of cocoa beans) and combined output prices (price of cocoa butter and powder). 15 9-Month Key Sales Figures 2022/23 - Roadshow presentation 180% 160% Combined ratio 3.4x 140% 120% +63.1% +15.5% +10.9% 100% Butter ratio M 80% Powder 60% ratio 40% 20% 0% Aug-13- Aug-14- Aug-15- Aug-16- Aug-17- Aug-18- Aug-19- Aug-20- Aug-21 Cocoa beans Dairy Sugar world Sugar EU Aug-22- -19.5%#16BARRY (CALLEBAUT OUTLOOK 9-Month Key Sales Figures 2022/23 16 9-Month Key Sales Figures 2022/23 - Roadshow presentation#17BARRY CALLEBAUT Outlook Continue to work towards flat volume growth for Full Year 2022/23 and confident to deliver solid operating profit 17 9-Month Key Sales Figures 2022/23 - Roadshow presentation "In a challenging market environment, we continue to work towards flat volume growth for the Full Year 2022/23 and remain confident to deliver solid operating profit. We will provide a full strategic update with the Full-Year results publication on November 1, 2023." Peter Feld, CEO#18BARRY (CALLEBAUT APPENDIX 18 9-Month Key Sales Figures 2022/23 - Roadshow presentation#19BARRY CALLEBAUT Financial review - Gross profit bridge HY 2022/23 Gross profit increase supported by strong mix and positive Cocoa contribution In CHF million 606 -18 +11.4% 17 675 664 70 -11 Gross profit HY 2021/22 Volume Mix Cocoa Gross profit HY 2022/23, FX Gross profit HY 2022/23 in LC 19 9-Month Key Sales Figures 2022/23 - Roadshow presentation#20BARRY CALLEBAUT Financial review - EBIT bridge HY 2022/23 Strong Operating profit (EBIT) recurring, up +11% in local currencies In CHF million 331 +11.0% 353 69 348 -34 -5 318 -13 EBIT HY 2021/22 Tax Credit Brazil reported EBIT HY Gross Profit 2021/22 recurring SG&A, Others EBIT HY 2022/23, FX EBIT HY 2022/23 reported, reported 20 9-Month Key Sales Figures 2022/23 - Roadshow presentation in LC#21BARRY CALLEBAUT Financial review - EBITDA to Net profit bridge HY 2022/23 Net profit recurring up +10.4% in local currencies, thanks to strong Operating profit (EBIT) In CHF million 467 -119 (PY -116) 348 ETR HY 2022/23: 18.7% HY 2021/22: 17.3% (recurring 17.7%) +10.2% -60 (PY -59) 234 234 212 -54 (PY-47) Dep. & EBITDA EBIT Financial HY2022/23 Amort. HY2022/23 items reported Income Net profit taxes HY2022/23, reported FX 1 Prior year Net profit recurring excluding the recovery of indirect tax credits in Brazil of CHF +12.7 million. 21 9-Month Key Sales Figures 2022/23 - Roadshow presentation Net profit HY2022/23, in LC Net profit HY2021/22, recurring¹#22BARRY CALLEBAUT Financial review - Free cash flow HY 2022/23 Solid cash generation despite higher working capital In CHF million +7.7% 434 467 -249 (PY -95) -88 (PY -68) -96 (PY -104) 39 72 (PY +167) -259 (PY -300) -187 (PY -133) EBITDA EBITDA Change in Interest CAPEX Others recurring recurring Working 6m Feb 22 6m Feb'23 capital & Income taxes FCF Feb'23 RMI Beans YTD FCF Feb'23 YTD 1 Prior year EBITDA recurring excluding the recovery of indirect tax credits in Brazil of CHF +12.8 million. adjusted 22 9-Month Key Sales Figures 2022/23 - Roadshow presentation#23BARRY CALLEBAUT Financial Review - Net debt HY 2022/23 Adjusted Net debt further reduced In CHF million 41 188 1,581 154 1,199 Net debt Aug'22 Dividends Free & Treasury cash flow shares 368 -1,213 -193 561 FX/Others Net debt Adjustments Adjusted Feb'23 (RMI) for beans Net debt Feb'23 Adjusted Net debt Feb'22 23 9-Month Key Sales Figures 2022/23 - Roadshow presentation#24BARRY CALLEBAUT Financial review - Key figures HY 2022/23 Strong Balance sheet (in CHF million) Net working capital Non-current assets Total assets Feb'23 Aug'22 Feb'22 1,699 1,293 1,599 2,972 3,002 2,934 8,185 7,761 7,428 Net debt 1,581 1,199 1,594 Adj. Net debt¹ 368 350 561 Shareholders' equity 2,896 2,902 2,696 ROIC reported 10.8% 11.5% 11.7% ROIC recurring² 12.7% 13.2% 11.4% Net debt/EBITDA ROE reported ROE recurring² Net debt/Equity ratio Adj. Net debt/Equity ratio Adj. Net debt¹ / EBITDA 13.2% 12.4% 15.6% 16.1% 14.8% 15.1% 54.6% 41.3% 59.1% 12.7% 12.1% 20.8% 2.0x 1.6x 2.0x 0.6x 0.6x 0.7x 1 Net debt adjusted for cocoa beans considered as RMI 2 Recurring numbers Feb'22 excluding Brazil indirect tax recovery, Aug 22 and Feb'23 excluding Brazil indirect tax recovery, closure of Moreton, UK, Wieze effect 24 9-Month Key Sales Figures 2022/23 - Roadshow presentation#25BARRY CALLEBAUT Key Financials Increase in EBIT per tonne thanks to enhanced product and customer mix 327 325 339 312 312 290 292 282 274 279 283 307 271 259 251 271 286 281 231 272 240 256 242 231 231 223 219 1,717 1,795 1,834 1,914 2,036 2,140 2,096 2,192 2,307 1,536 1,210 1,269 1'379 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 EBIT per tonne in CHF (as reported) - - EBIT recurring per tonne in CHF (at constant currencies) EBIT per tonne in CHF (at constant currencies) 25 9-Month Key Sales Figures 2022/23 - Roadshow presentation EBIT recurring per tonne in CHF (as reported)#26BARRY CALLEBAUT Appendix Chocolate confectionery market development - Nielsen data Western Europe (33% of market) North America (22% of market) 2017-22 average: 1Q 2022/23: 2Q 2022/23: 3Q 2022/23: 2017-22 average: 1Q 2022/23: +0.1% -2.8% 2Q 2022/23: -2.8% 3Q 2022/23: -4.7% South America (7% of market) 2017-22 average: 1Q 2022/23: 2Q 2022/23: 3Q 2022/23: +2.7% +9.4% +8.2% +8.9% +0.6% -3.7% -1.9% -2.2% EEMEA (24% of market) Source growth: Nielsen chocolate confectionery in volume, 26 countries, excluding e-commerce Source regional market shares: Euromonitor 26 9-Month Key Sales Figures 2022/23 - Roadshow presentation Asia Pacific (14% of market) 2017-22 average: +1.3% 2017-22 average: 1Q 2022/23: -1.9% 1Q 2022/23: 2Q 2022/23: -3.5% 2Q 2022/23: 3Q 2022/23: -2.9% 3Q 2022/23: +5.1% +2.4% +1.2% +1.9%#27BARRY CALLEBAUT Appendix Our market and opportunities ahead Global chocolate confectionery volume growth vs cocoa bean price Volume growth, % 5 M N O N 2'500 2'000 1'500 1'000 500 GBP/tonne Forecast volume growth per application 2021-2026 (Pure chocolate/compound volumes) Chocolate Confectionery Ice Cream Absolute volume growth in tonnes / CAGR % 2.0% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2017 Cocoa price Chocolate confectionery Chocolate per capita consumption vs GDP growth Russia Euro area. Bubble size = Chocolate confectionery volume Chocolate consumption per capita in kg + M N 1 USA Emerging markets Sweet Biscuits 1.8% Cakes 2.2% Pastries Breakfast Cereals 2.0% Brazil India China -2 -1 ○ 1 2 3 4 5 6 7 8 9 Source: Euromonitor Annual GDP % growth, 2020-2025 27 9-Month Key Sales Figures 2022/23 - Roadshow presentation Dairy 1.9% 2.8% 1.3%