#1UR Universal Robina OT INA Farms HONEYCURED Bacon JACK JILL Piattos SNACK Kentang B'lue NEEDLES alood Baker John PREMIUM Milk Loaf Tamang Timpla Great Taste WHITE Cream Nice & 9M CY2021 Unaudited Results Investor Briefing October 29, 2021 Tivoli Vitaser The Sey Exp ORIGINAL GINGERNUTS Irwin C. Lee President and CEO Kettle ORIGINAL SEA SALT St Pauline Doar & DRONELL CLOUD RE FRES Chip Mickey T. Manalang Strategy & Investor Relations Director#2Universal Investor Presentation: 9M CY2021 Business Results Agenda 1. COVID-19 Impact and Disruptions 2. 9M CY2021 Unaudited Financial Results 3. Business Updates CUP NEOD Seaf Blue ROBIN HC Tivoli LUSH MAXX CLOUDO GINGERNUTS Baker John PREMIUM k Loaf 2#3Investor Presentation: 9M CY2021 Business Results UR Universal Surge in COVID-19 cases experienced in Q3 Asia Pacific Philippines reports record virus cases as Delta variant spreads Asia Pacific Thailand reports record 22,782 coronavirus cases WORLD Vietnam to extend lockdown as COVID-19 cases soar Asia Pacific Malaysia reports 22,948 coronavirus cases, new daily high Source: Our World in Data, Reuters Daily new confirmed COVID-19 cases Our World in Data Shown is the rolling 7-day average. The number of confirmed cases is lower than the number of actual cases; the main reason for that is limited testing. LINEAR LOG Daily new confirmed COVID-19 cases Our World in Data Shown is the rolling 7-day average. The number of confirmed cates is lower than the number of actual cases the main reason for that is limited testing LINEAR LOO 50,000 20,000 40,000 30,000 20,000 15,000 10,000 5,000 0 Jan 1, 2021 10,000 Jan 1, 2021 Feb 24, 2021 Source Johns Hopkins University CSSE COMID-19 Da Feb 24, 2021 Source: Johns Hopkins University CSSE COVID-19 Data Thailand Malaysia Philippines -Singapore Vietnam Myanmar Indonesia Apr 15, 2021 Jun 4.2021 Jul 24.2021 Oct 21, 2021 CC BY Thailand Malaysia Philippines Singapore Vietnam Myanmar Apr 15, 2021 Jun 4, 2021 Jul 24, 2021 Oct 21, 2021 CC BY 3#4Investor Presentation: 9M CY2021 Business Results Government restrictions affecting operations Factories in Thailand, Vietnam and Malaysia were impacted by limited capacity and factory shutdowns in Q3 due to COVID restrictions Economics Trade Risks Worsen as Delta Descends on Southeast Asia Factories By Mai Ngoc Chau and Randy Thanthong-Knight July 30, 2021, 3:30 PM GMT+8 Firms across southern Vietnam shut to meet labor virus curbs Thai manufacturers preparing contingency plans for outbreaks Vietnam's COVID-battered supply chains on shaky road to recovery Factories reopen but labor exodus and lockdown risks keep suppliers on edge HINIFROM Malaysia manufacturers reduce output as COVID-19 lockdown limits workforce capacity to 60% The government will also allow companies under 12 manufacturing sectors to continue operating, such as food and drink manufacturing, medical devices, textiles for producing personal protection equipment as well as oil and gas. They will need to operate at 60 per cent capacity. Garment factory workers return to the job after COVID-related restrictions were lifted in Vietnam on Oct. 1. Reuters Supply chains were undone by one of the world's strictest lockdowns, which barred travel between certain provinces and required many plants to close unless staff slept on site. Ho Chi Minh City said some companies have continued the sleepovers, though the number of affected workers has fallen to 45,000. Source: Channel News Asia, Nikkei 4#5UR Universal COMMODITIES Source: Reuters, Wall Street Journal, Fox Business, Bloomberg Investor Presentation: 9M CY2021 Business Results REUTERS (R) Consumer goods companies walk a tightrope as inflation surges Freight costs and raw material prices have surged this year across industries due to global supply chain disruptions, squeezing profit margins at companies looking to recover from the impact of the COVID-19 pandemic. VEGOILS-Palm oil climbs 2% to record high of over 5,200 ringgit Commodity prices and freight costs spike to new highs COVID-19 lockdowns in Asia deepen commodity supply-chain pain Palm-oil plantations and coffee farms struggle with labor shortages and transportation curbs as cases surge Prices for each of these commodities have risen to multiyear highs in recent months, adding costs that are being passed on to consumers. 292.37 274.78 257.18 - Wheat USD per metric ton 116.42 Sep-2016 134.02 Dec-2016 US Dollars per Metric Ton 151.61 Mar-2017 169.21 Jun-2017 186.8 Sep-2017 204.4 Dec-2017 221.99 Mar-2018 239.59 Jun-2018 Sep-2018 508.27 Sep-2016 581.49 Dec-2016 US Dollars per Metric Ton 654.71 Mar-2017 727.92 Jun-2017 801.14 Sep-2017 874.36 Dec-2017 947.58 Mar-2018 1.02K Jun-2018 1.09K Sep-2018 1.17K Dec-2018 1.24K Mar-2019 Mar-2019 Dec-2018 Palm Oil - USD per metric ton Jun-2019 Jun-2019 Sep-2019 Sep-2019 Dec-2019 Dec-2019 Mar-2020 Mar-2020 Jun-2020 Jun-2020 Sep-2020 Sep-2020 Dec-2020 Dec-2020 Mar-2021 Mar-2021 Jun-2021 Jun-2021 Sep-2021 Sep-2021#6Universal Investor Presentation: 9M CY2021 Business Results How we are addressing disruptions and cost inflation • Strengthened People Safety and Crewing Plans • Increased Inventories Levels Diversifying Suppliers Base and Harmonizing Specs Expanding and Accelerating LEAN Savings Program Pricing/Mix - 2021 First Round Pricing of 2% for BCFG; additional in Q4 and early 2022 - Sweetening Mix with Affordable Premium and Higher Price Points#7Universal Investor Presentation: 9M CY2021 Business Results Expanding and Accelerating Savings • • 2019 COMMITMENT PHP 1B Total savings in 3 years Lean program initiated with savings commitment of Php1B over 3 years Expected to exceed Php1B with incremental international contribution • PHP 5B New "Fuel For Growth" Program New 5-year roadmap to harvest Php5B savings • • • Lean Manufacturing Procurement Efficiencies Product Formulation • Supply Network Redesign · Productivity from Scale and Shared Services Enabled by Agile and Digital Transformation 7#8Universal Investor Presentation: 9M CY2021 Business Results Agenda 1. COVID-19 Impact and Disruptions 2. 9M CY2021 Unaudited Financial Results 3. Business Updates CUP NEOD Seaf Blue ROBIN HC Tivoli LUSH MAXX Sel CLOUDO GINGERNUTS Baker John PREMIUM k Loaf 8#9UR Universal Investor Presentation: 9M CY2021 Business Results URC Revenue growth despite COVID constraints in key markets SALES In billion pesos EBIT In billion pesos 99.8 102.6 9M 2020 9M 2021 11.9 11.6 9M 2020 9M 2021 3% 3% • Growth driven by the Commodities and International divisions Philippines showed recovery in Q3 as market decline abates • Net Income up 38% from gain on idle land sale and CREATE tax law impact Gross margins declined due to higher input costs and unfavorable mix Pricing initiatives and OPEX control helped reduce operating margin impact (-68 bps) 9#10UR Universal Investor Presentation: 9M CY2021 Business Results BCF PHILIPPINES Topline ahead of market, but input cost pressures weigh on margins 46.5 SALES In billion pesos EBIT In billion pesos 44.2 9M 2020 9M 2021 6.6 5.9 9M 2020 9M 2021 Excluding packaging 11% 5% • • Expected decline vs. 2020 base (Taal eruption, COVID stock-up), but improvement vs 1H 2021 2021 market recovery delayed; consumer sentiment remains tepid • Lower EBIT driven by higher input costs, partially offset by operating efficiency improvements and pricing moves Managed A&P and Selling expenses in line with volume 10#11Universal Investor Presentation: 9M CY2021 Business Results BCF PHILIPPINES URC maintaining share gains as markets slowly recover Market Growth Index URC Market Share CATEGORY MAT MAT P12M P8M Aug20 Aug21 Snacks 97 104 38.7% 38.9% Candies 88 102 26.6% 27.7% Chocolates and Coated Wafers 93 100 22.0% 24.6% Biscuits 89 95 16.3% 16.2% Cup Noodles 93 99 49.5% 50.2% Pouch Noodles 108 112 13.8% 13.8% RTD Tea 84 101 85.3% 88.7% Coffee Source: Nielsen 95 102 22.7% 21.7% 11#12UR Universal Investor Presentation: 9M CY2021 Business Results BCF INTERNATIONAL Growth momentum tapered, impacted by COVID surge in Q3 SALES In billion pesos EBIT In billion pesos 32.9 30.0 9M 2020 9M 2021 3.0 2.9 9M 2020 9M 2021 includes Proper Crisps Sales 6% 9% • Sales up on YTD basis, but most countries impacted by COVID lockdowns • Indo-China and Indonesia leading growth despite COVID challenges • • EBIT growth driven by higher volumes and positive mix but tempered by cost increases Controlled A&P and SG&A expenses helped offset operating inefficiencies due to COVID surge 12#13UR Universal Investor Presentation: 9M CY2021 Business Results AIC Commodities growth driven by new businesses 24.2 9% BUSINESS UNIT PERFORMANCE 22.3 Commodity Foods Group (CFG) +20% SURE +26% • 13.1 15.7 FLOUR +3% SALES In billion pesos . Agro-Industrial Group (AIG) 9.2 8.5 -7% FARMS & FDD -32% 9M 2020 9M 2021 ANH +1% CFG AIG 4.0 4.2 4% EBIT 3.0 3.2 +7% In billion pesos 1.0 1.0 -3% 9M 2021 . Growth in Sugar as La Carlota and Roxol contribute to base business AIG down vs higher base as farms downsizing carried through mid 2020; Pet Food growth offsets lower volumes in Hog Feeds AIG margins continue to improve from post-restructuring operational improvements Commodities margins growth slower due to higher wheat prices; pricing action for Flour to mitigate cost increases 9M 2020 Non-branded Consumer Foods Group is now called Agro-Industrial and Commodities (AIC) Feeds is now called Animal Nutrition & Health (including Pet Food) | Farms is now called Robina Farms | FDD is Food, Drugs & Disinfectants 13#14UR Universal Investor Presentation: 9M CY2021 Business Results Balance Sheet and Cash Flow Cash and Financial Debt In billion pesos 41.5 19.4 2020 Cash + Financial Assets at FVPL + AFS Cash Position In billion pesos 18.9 48.4 16.7 2021 Financial Debt · 17.0 6.5 4.4 7.3 1.6 16.1 Cash as of EBITDA CAPEX Dec 2020 Property Dividends Acquisition Working Cash as of Capital and Sep 2021 Others . Cash balance at Php 16.7B • Net Debt of Php 31.7B Gearing ratio of 0.47 Major cash disbursement for CAPEX, long-term infrastructure investments and dividends The internal guidelines on share buyback program have been approved; expected to commence before the end of the year 14#15Universal Investor Presentation: 9M CY2021 Business Results Agenda 1. COVID-19 Impact and Disruptions 2.9M CY2021 Unaudited Financial Results 3. Business Updates CUP NEOD Seaf Blue ROBIN HC Tivoli LUSH MAXX CLOUDO GINGERNUTS Baker John PREMIUM k Loaf 15#16UR Universal Investor Presentation: 9M CY2021 Business Results Sustainability Updates: Initial 2030 Commitments Energy Efficiency & Reduction in GHG Emissions We will optimize our energy use by Improving Energy Use Ratio by 30% by 2030 and its impact on Carbon Footprint (GHG) 30%▼ Our People 8 DECENT WORK AND ECONOMIC GROWTH 13 CLIMATE ACTION 12 RESPONSIBLE CONSUMPTION AND PRODUCTION 8 Water Conservation Substantially improve water use in our facilities by improving our Water Use Ratio by 30% by 2030 6 CLEAN WATER AND SANITATION 30%▼ Natural Resources UR Universal Robina OUR PURPOSEFUL TRANSFORMATION 2030 COMMITMENTS Our Products 12 2 ZERO HUNGER RESPONSIBLE CONSUMPTION AND PRODUCTION QO Safety Growth in Talent We promote a safe working environment towards zero lost time injuries in the workplace. We empower the organization through our People and Planet Friendly Culture initiatives, ensuring holistic growth of our employees at all levels. Our Communities We commit to improve people's capabilities leading to better livelihood, improved nutritional level, and environmental stewardship in communities where we live and operate. QUALITY EDUCATION ZERO HUNGER SSS 12 RESPONSIBLE CONSUMPTION AND PRODUCTION QO Quality We will consistently deliver products of high quality Product We will improve the nutrition or wellness profile of our product portfolio aligned to the URC Wellness Criteria Packaging We will reduce our packaging footprint and make 60% of our packaging recycle-ready. 16#17Universal Investor Presentation: 9M CY2021 Business Results Updated 2030 Sustainability Commitments B & People & Communities Make people's lives better Climate Water Action Move towards a low-carbon economy Improve water use efficiency & protect watersheds Product Improve choices in our product portfolio Packaging Reduce our packaging footprint Sourcing Promote responsible sourcing of key ingredients 17#18UR Universal Investor Presentation: 9M CY2021 Business Results Sustainability Updates Water Water recirculation, rainwater collection 17 16 3 DEAR WATER Water Use Ratio targets ahead of schedule; revised up 15 SUSTAINABLE 14 DEVELOPMENT 5 Bil Climate 13 MATE ACTION Phased refresh of plant infrastructure • Pilot solar energy running in PH, TH, VN #1 power cogeneration facility among PH sugar mills GALS 13 12 8 11 Product 2 HUNGER GOOD HEALTH 3 AND WELL-BEING 104 . Reduction of sodium and added sugars (2 million kg/yr) TCFD TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES • Adding functional fortified product lines Packaging 12 CONSUMPERIN RESPONSIBLE AND PRODUCTION Replacement of artificial colors and partially hydrogenated oils (PHO) Packaging laminates for Snackfoods and Coffee decreased by 8% per kg YoY through reduction and optimization Increase in recycle-ready packaging and shifting to mono-materials 18#19Universal Investor Presentation: 9M CY2021 Business Results NEOD Seaf THANK YOU Blue ROBIN HC LUSH MAXX Tivoli CLOUDO GINGERNUTS 19 Baker John PREMIUM k Loaf#20Universal Investor Presentation: 9M CY2021 Business Results Income Statement 9M 2021 9M 2020 (Php Millions) NET SALES Cost of Sales GROSS PROFIT Operating Expense OPERATING INCOME Equity in net income of JVs YOY (Unaudited) 102,557 99,773 3% 72,236 69,160 4% 30,321 30,613 -1% -18,770 -18,702 0% 11,551 11,911 -3% -90 -42 Finance cost - net -795 -836 Market valuation gain/ (loss) 23 10 Foreign exchange gain/(loss) - net 24 -699 Other revenues/expense 2,165 -719 INCOME BEFORE INCOME TAX 12,878 9,624 34% Provision for Income Tax 1,647 1,486 NET INCOME 11,231 8,139 38% Net income attributable to holders of the parent 10,524 7,498 EBITDA 17,037 17,424 -2% *Full P&L include market revaluation gain/loss for Farms Increase in net income attributed to higher other income from gain on sale of idle land, as well as impact of CREATE 20 20#21U universal Investor Presentation: 9M CY2021 Business Results Balance Sheet (Php Millions) Cash & cash equivalents 9M 2021 CY 2020 (Unaudited) (Audited) 16,683 19,367 (including Financial assets at FVPL and FVOCI) Other current assets 54,357 46,271 Property, plant, and equipment 63,726 58,990 Other noncurrent assets 52,803 51,567 TOTAL ASSETS Current liabilities Noncurrent liabilities TOTAL LIABILITIES Retained earnings Other equity TOTAL EQUITY 187,569 176,195 60,437 53,668 24,773 24,743 85,210 78,411 73,699 70,448 28,660 27,336 102,359 97,784 21#22UR Universal Investor Presentation: 9M CY2021 Business Results Divisional Financials SALES EBIT EBIT MARGIN (Php Millions) 9M 2021 9M 2020 YOY 9M 2021 9M 2020 YOY 9M 2021 9M 2020 bps Branded Consumer Foods 78,311 77,432 1% 8,980 9,455 -5% 11.5% 12.2% (74) Total Philippines Philippines Packaging 45,422 47,396 -4% 5,946 6,601 -10% 13.1% 13.9% (84) 44,236 46,536 -5% 5,866 6,593 -11% 13.3% 14.2% (91) 1,185 860 38% 79 8 915% 6.7% 0.9% 579 International 32,889 30,036 9% 3,034 2,854 6% 9.2% 9.5% (28) Agro-industrial and 24,246 22,341 9% 4,178 4,000 4% 17.2% 17.9% (67) Commodity CFG (net) 15,709 13,119 20% 3,196 2,992 7% 20.3% 22.8% (246) Flour 3,706 3,581 3% 586 856 -32% 15.8% 23.9% (810) SURE 12,003 9,538 26% 2,610 2,136 22% 21.7% 22.4% (65) AIG (net) 8,537 9,222 -7% 982 1,008 -3% 11.5% 10.9% 57 Animal Nutrition and Health 6,884 6,802 1% 944 1,030 -8% 13.7% 15.1% (143) Farms & Food, Drugs, 1,652 2,420 -32% 38 -22 -274% 2.3% -0.9% 318 Disinfectants Corporate Expense -1,606 -1,544 4% Total URC 102,557 99,773 3% 11,551 11,911 -3% 11.3% 11.9% (68) *EBIT and margins include revaluation gains/loss of our biological assets for the Robina Farms Division 22#23UR Universal Investor Presentation: 9M CY2021 Business Results Market Shares Philippines Thailand MARKET CATEGORY #1 #2 #3 CATEGORY SHARE MARKET SHARE #1 #2 #3 Snacks Candies 38.9% URC 23.2% 5.5% Biscuits 18.4% URC 13.1% 7.7% 27.7% URC 12.5% 12.0% (new) Chocolates Wafers 21.4% URC 20.8% 10.1% and Coated 24.6% URC 13.0% 8.6% Wafers Vietnam Biscuits 16.2% 30.2% 26.1% URC CATEGORY MARKET SHARE #1 #2 #3 Cup Noodles 50.2% URC 38.8% 5.8% RTD Tea 18.2% 45.5% 19.3% URC RTD Tea 88.7% URC 2.1% 1.6% Coffee 21.7% 38.4% 34.6% URC Instant Coffee 21.5% 76.6% URC 1.1% Coffee Mixes 21.8% 43.4% 28.7% URC AC Nielsen, Value, MAT: Snacks, Candies, Chocolates and Coated Wafers, Biscuits, Cup Noodles, RTD Tea and Coffee as of Aug 2021 URC Thailand: Biscuits (new) includes market share reading for Pretzels and Chicken Leg which was excluded in disclosures from 2020 and earlier. Moving forward, we will use this new definition as we explore expanding growth possibilities for total Biscuits; Biscuits and Wafers - MAT Aug 2021, URC Vietnam: RTD Tea - MAT Aug 2021 23