#1CPF PUT OUR HE RT INTO FOOD 10/2020 Results Briefing Investor Presentation May 14, 2020 MEMBER OF Dow Jones Sustainability Indices In Collaboration with RobecoSAM AAAAA FTSE4Good#200000 Contents Business Overview 02 10/2020 Financial Results 09 FY 2020 Outlook 16 S Appendix A: 3Yr Historical Results B: Products & Raw Materials Price Trend C: - Group of CPP&CTEI's Associate Companies & Joint Ventures - Investment & Financing Activities D: Product Sample & Retail Outlet Format P.1#3Why Invest in CPF Kitchen The World Of "Aiming to compete in the front line of the food industry, we use resources properly and environmental friendly. The Company takes into account the interests of all stakeholders to ensure sustainable growth, while being able to generate appropriate return to shareholders" One of the world's recognized leaders in animal feed manufacturing, swine production, and shrimp integrated business Diversified portfolio with operations and investment in 17 countries catered to over 4 billion population, and exports to more than 30 countries ■ Multi-species animal proteins (mainly poultry, swine and shrimp) Member of "SET 50" under Agro & Food Industry Sector (Ticker: CPF) Member of Dow Jones Sustainability Index (Emerging Markets) Member of FTSE 4Good Index Series ■ Ranked "Excellent" for CGR Scoring by Thai Institute of Directors (IOD) P.2#4Company Facts Vision "Kitchen of the World" 4 listed investments onboard (HKSE:00043, HKSE:3839, TWSE: 1215, SET:CPALL) 39 series of debentures listed on Thai Bond Market Association “TBMA" 1 exchangeable Bond "EBs" on SGX SINGAPORE EXCHANGE Capital FY 19 Sales :THB532 billion or -USD 17.1 billion Market Cap THB239 billion or ~USD 7.4 billion (as of May 13, 2020) 8,611 million shares (paid-up) Highlights 2019 Sales Breakdown TH-Export, 6% par value of THB. 1.00 per share TH- Domestic, 27% By Operations International, 67% Book Value : THB21.40* per share (as of Mar 31, 2020) Livestock, 86% Feed, 38% Farm, Shareholders: Charoen Pokphand Group Ltd. 53.88% of Paid-Up Capital (as of Mar 9, 2020) Credit Rating: "A+" with "Negative" Outlook (as of Mar 31, 2020) Aquaculture, 14% By Business 44% By Product Food, 18% Note: USD1 = THB 32.47 (as of May 13, 2020) * Exclude Non-Controlling Interests (NCI) and Subordinated Perpetual Debentures P.3#5Vertically Integrated Business in Thailand CPF operates integrated agro-industrial and food business including swine, broiler, layer, duck, shrimp and fish. The integrated food process involves advanced production technology, qualified international standard chemical-free production, safe with hygiene, while being environmental friendly, and systematically traceable throughout the whole food chain. Feedmilling Breeding Farming Processing Adding Value | Feed Breeder Live Animal Fresh Meat Food & Ready Meal FEED Business > TRADING Business (ห้าดาว) Farm FARM Business Food & Retail Outlets FOOD Business STAR CHESTERS Fresh Mart Food World CP PORK SHOP (CP) Kitchen เจ้าสัว ปิอย่าง DAR GALB COFFEE CP Global Brand Recognition WOK STATION P.4#6CPF Geographical Footprints Operations and investment in 17 countries catered to > 4 billion population Export to more than 30 countries across 5 continents Russia Livestock feed Swine farming Chicken integrated business UK Chilled and Frozen food Food kiosks Food Services Belgium Ready to eat foods Brazil Shrimp farming & primary processing Turkey Chicken integrated business Poland Hatchery farm Food processing plants Sri Lanka Ready to eat foods India Chicken integrated business Aquatic feed Canada Swine integrated business USA Ready to eat foods Philippines Livestock and aquaculture feed and farming Laos Livestock integrated business Cambodia Livestock integrated business China Vietnam Livestock and aquaculture feed Thailand Malaysia Aquaculture farming Ready to eat foods Taiwan, China Livestock integrated business Livestock and aquaculture integrated businesses Livestock and aquaculture integrated business Livestock and aquaculture integrated businesses P.5#7Our Strategy Im 00000 Strategy for Growth Execution Plan Fully integrated business model Globalization by establishing a proper business model suitable for each strategic market Value-added business by expanding portfolio towards innovative products and services to serve rising demands. Create value -use innovation in order to add value to product, process, and business model. Digital Transformation - utilize digital tools to improve operation efficiency and to better serve needs of customer. Sustainability - ensure sustainable growth by creating shared value for society, environment and well as economic value. P.6#8Sustainability WE SUPPORT UN GLOBAL COMPACT SUSTAINABLE DEVELOPMENT GOALS CPF commits to support 11 of 17 Sustainable Development Goals which align with our capacity and potential. CPF is a participant in the United Nations Global Compact MEMBER OF Dow Jones Sustainability Indices In Collaboration with RobecoSAM ▸▸▸ 1 POVERTY 2 ZERO HUNGER GOOD HEALTH AND WELL-BEING QUALITY EDUCATION EQUALITY 6 7 SSS AFFORDABLE AND CLEAN ENERGY CO 8 DECENT WORK AND ECONOMIC GROWTH M 13 CLIMATE ACTION 14 LIFE BELOW WATER 15 LIFE ON LAND REDUCED ①+ CLEAN WATER AND SANITATION 12 RESPONSIBLE CONSUMPTION AND PRODUCTION QO 16 PEACE, JUSTICE AND STRONG INSTITUTIONS 17 PARTNERSHIPS FOR THE GOALS SUSTAINABLE DEVELOPMENT GOALS CDP MSCI CAC CERTIFIED DRIVING SUSTAINABLE ECONOMIES AAAAA FTSE4Good P.7#9CPF Operation Structure (as of Mar 31, 2020) 32% of Sales CPF Thailand 1 CPF 68% of Sales CPF International 1020 Sales: THB 138,135 m Net Profit: THB 6,111 m Associates & Joint Ventures 27% of Sales 44% of sales CPP- HKSE:43 Domestic (52.24%) (1) UK Westbridge 24% of sales (99.99%) (100.00%) 4 Andhra Pradesh Broodstock (74.99%) CP Meiji (59.99%) TW: 1215 CPE Taiwan (39.00%) 5% of Sales Export (3% of Sales export through Subsidiaries) HyLife (Canada) (50.10%) 17 25% of sales 9% of sales USA(Bellisio) (100.00%) 5 Ross (49.99%) China Vietnam Russia RBPI (99.99%) (75.82%) 6 Westbridge Food Holdings (50.00%) 2 3 Arbor (49.98%) S&W (99.99%) India Turkey 13 Belgium (Tops Food) (84.07%) CP Cambodia 14 Sri Lanka (Norfolk Foods) (80.00%) Philippines Malaysia (99.99%) 7 (100.00%) 8 (100.00%) (99.99%) 10 (99.99%) 11 SuperDrob (Poland)(49.45%) Dak Galbi Camanor (Brazil) (40.00%) 16 (41.35%) 9 SET: CP ALL (33.97%) CP-MP Logistics Joint Stock (32.43%) CP Aqua (India) (31.70%) 15 CPF Poland A.A.W Organizacji(66.67%) China (Aqua) (100.00%) Siam Rivea (29.99%) CTEI (50.43%) Laos (99.99%) 12 Nava 84 (25.00%) Lotus Distribution International (20.50%) Note: % represent percent holding by CPF both direct and indirect (1) Based on total issued shares (2) See Appendix C BHJ Kalino Food AB(15.08%) Group of CPP's Associate Companies & JCE (2) P.8#1010/2020 Performance Summary 10/2020 VS 10/2019 Sales Revenue Sales Revenue Breakdown 10% Sales Revenue -2% Gross Profit +43% Margin: 10/19: 14% 10/20: 18% EBITDA +66% Margin: 10/19: 9% 10/20: 14% Net Profit +43% Sales Revenue + 34% Margin: 3% 10/19: Vietnam Swine Price Vietnam Swine 10/20: 4% +65% +Vol Sales Revenue + 6% Thai Swine Price Thai Swine Others 24% Thai +1% +Vol 32% Sales Revenue Thai Corn Price Thai Soy Bean Meal THB 138,135 m Price L-11% -5% Vietnam 19% China 25% Sales Revenue + 15% Chicken Feed + Vol P.9#11In THB, m 1Q19 1Q20 1Q20: Sales & Profit Margin by Business +6% 36,117 38,397 +3% 5,760 5,951 +10% 138,135 125,286 +13% 83,979 74,518 +10% 8,891 9,808 Thai-Livestock Thai-Aqua Overseas-Livestock Overseas-Aqua TOTAL GPM 10.7% 15.4% 7.8% 10.6% 16.1% 20.4% 15.4% 17.1% 14.1% 18.3% OPM 1.9% 5.3% - 1.0% 3.4% 7.2% 11.4% 7.6% 9.1% 5.3% 9.2% ** Exclude gain/loss from fair value adjustment of biological assets P.10#121Q20: Sales Structure by Business Sales Breakdown Livestock Aqualculture Total 1Q 19 1Q20 % Change 1Q 19 1Q20 % Change 1Q 19 1Q20 % Change Thailand 36,117 38,397 6% 5,760 5,951 3% 41,877 44,348 6% Domestic 30,180 32,491 8% 4,716 5,025 7% 34,896 37,516 8% Export 5,937 5,906 -1% 1,044 926 -11% 6,981 6,832 -2% China 28,991 33,390 15% 948 1,011 7% 29,939 34,401 15% Vietnam 16,321 22,153 36% 3,120 3,873 24% 19,441 26,026 34% Others Total 29,206 28,436 -3% 4,823 4,924 2% 34,029 33,360 -2% 110,635 122,376 11% 14,651 15,759 8% 125,286 138,135 10% % of Total Sales 88% 89% 12% 11% 100% 100% 76% Thailand China . Vietnam of Sale Revenue P. 11#131Q20: Sales Structure by Products Sales Breakdown by Products Feed Farm Food Total 1Q 19 1Q20 % Change 1Q 19 1Q20 % Change 1Q 19 1Q20 % Change 1Q 19 1Q20 % Change Thailand 9,148 9,434 3% 21,301 24,003 13% 11,428 10,911 -5% 41,877 44,348 6% Domestic 9,132 9,429 Export 16 5 3% -69% 19,811 1,490 22,261 1,742 12% 5,953 5,826 -2% 34,896 37,516 8% 17% 5,475 5,085 -7% 6,981 6,832 -2% China 23,804 26,360 11% 4,286 6,074 42% 1,849 1,967 6% 29,939 34,401 15% Vietnam 6,656 6,313 -5% 12,128 18,730 54% 657 983 50% 19,441 26,026 34% Others 7,899 8,303 5% 16,925 15,934 -6% 9,205 9,123 - 1% 34,029 33,360 -2% Total 47,507 50,410 6% 54,640 64,741 18% 23,139 22,984 -1% 125,286 138,135 10% Farm, 54% Feed, 76% Farm, 72% Farm, 48% Feed, 36% Farm, 47% oooo o Feed, 21% Thailand Food, 25% Food, 6% China Farm, 18% Feed, Vietnam 24% Food, 4% Feed, Others 25% Food, 27% Total Food, 17% THB 44,348 m THB 34,401 m THB 26,026 m THB 33,360 m % to sales 32% 25% 19% 24% THB 138,135 m 100% P.12#141Q20: Consolidated Income Statement Highlight Full Year Quarter 1 2019 2020 % Chg. Net sales 125,286 138,135 10% 2018 541,937 2019 532,573 %Chg. -2% Gross Profit Margin 14.1% 18.3% 12.1% 14.3% EBITDA 11,585 19,224 66% EBITDA Margin 9.2% 13.9% 39,559 7.3% 47,551 20% 8.9% EBIT 5,979 12,355 107% 17,151 24,515 43% EBIT Margin 4.8% 8.9% 3.2% 4.6% G/L on FV of Biological Assets Share in Profit of Associates Financial Costs (1,431) 2,348 (3,414) (1,762) 23% 3,974 3,235 - 19% 2,680 14% (3,665) 7% 8,343 (11,703) 8,893 7% (13,785) 18% Income Taxes Expense (687) (1,996) 191% NET PROFIT 4,279 6,111 43% (6,212) 15,531 (5,446) 18,456 - 12% 19% EPS (THB) # of capital shares Paid-Up Capital Dividend (THB/Share) 0.50 0.73 8,185 8,185 8,611 8,611 1.82 2.18 8,185 8,185 8,611 8,611 0.65 0.70 Note: (1) # of capital shares = No. of the weighted-avg. shares (2) One time expense from the amendment of the Thailand's Labour Protection Act in the amount of THB 2, 126 m in 2019 (3) Financial costs includes impact from the adoption of TFRS 16, interest on lease liabilities in the amount of THB 629 m in 1020 P.13#15Financial Status (As of Mar 31,2020) Interest Bearing Debt: THB 386,744 m (THB, m) 386,744 288,710* 328,452* 331,107* Net Debt to Equity & Net Debt to EBITDA Net D/E 1.4x 1.4x 1.3x 1.2x 2017 2018 2019 1Q20 2017 2018 2019 1Q20 Cash and Cash Equivalent Net D/EBITDA (THB, m) 79,847 31,478 32,094 22,972 8.2x 7.6x 6.4x 5.6x 2017 2018 2019 1Q20 Current 2017 2018 2019 1020* Portion, 14% Bond, 33% S/T Loan, 36% L/T Loan, 17% Bond Rating "A+" with "Negative" Outlook by Tris Rating Co., Ltd Remark: Net Debt = Interest Bearing Debt - Cash and Cash Equivalents EBITDA = Revenue from Sales of Goods - Cost of Sales of Goods + Other Income - Selling Expense - Administrative Expense - Other Expense + Gain (Loss) from Foreign Exchange + Gain (Loss) on sales of property, plant & equipment+ Depreciation & Amortization + Depreciation of biological asset Cost of 2017 2018 2019 1Q20 Debts 3.84% 4.02% 3.90% 3.52% * LTM basis *Remark: Adjusted to exclude lease liabilities according to TFRS16 for comparison purpose P.14#16CPF's Investment in Listed Companies Stock Price (Local Curr.) Market Cap. (THB mm) CPF Holding % Holding Value (THB mm) (As of Mar 31, 2020) CPALL THB 61.00 (SET:CPALL) 547,969 33.97% 186,145 CPP HKD 0.61 61,966 52.24% 32,371 (HKSE: 0043) TRUE (SET:TRUE) THB 3.14 104,776 2.21% 2,316 CPE TWD 59.10 17,264 39.00% 6,733 (TWSE: 1215) CTEI HKD 1.46 1,483 50.43% 748 (HKSE:3839) Total 228,312 P.15#17Y2020 Outlook Growth Target Expected sales growth of approximately 8-12% excluding FX translation impact Key Drivers & Focus Higher average domestic meat prices of swine Swine shortage due to African swine fever (ASF), rising momentum of swine prices especially in Vietnam Improving overseas aquaculture businesses performance Opportunities from new normal after COVID-19 raise demand for food safety products. ■ Focusing on efficiency improvement and prudent investment Key Challenges Impact of COVID-19 on consumption and global economy Impact of drought in Thailand Balancing domestic chicken parts for different markets ■ African swine fever (ASF) outbreak in multiple countries ■Foreign exchange volatility Investment ■Capex of approximately THB 25 billion (excluding M&A) P.16#18Appendix A Highlights: 3Yr Historical Results#19- 10.0% Q1'18 Q2'18 Q3'18 4.0% 1.9% 1.7% -0.7% -0.1% -1.7% 0.0% -3.5% -4.1% -5.0% OPM ** 20.0% 25.0% 15.4% 14.1% 15.0% 12.6% 20.0% 10.7% 1 1.0% 10.0% 7.7% 6.8% 5.9% 5.1% 5.0% Gross Profit Margin & Operating Profit Margin Thai-Livestock GPM Thai-Aqua GPM OPM** Oversea-Livestock Q1'20 Q4'19 Q3'19 Q2'19 Q1'19 Q4'18 -5.0% Q3'18 Q2'18 Q1'18 15.0% 5.3% 10.7% 10.0% 10.8% 10.6% 10.0% 7.8% 6.6% 6.6% 4.4% 3.9% 3.5% 4.3% 5.0% 5.0% 3.4% 1.1% -1.0% 0.0% -3.3% -3.8% -3.7% 25.0% 20.0% 15.0% 10.3% 10.0% Q1'18 Q2'18 8.3% 7.3% 7.2% 5.0% 5.4% 5.0% 3.1% 1.3% 0.0% 16.7% 15.7% 16.1% 14.4% 13.9% 12.6% 5.0% GPM ** OPM Oversea-Aqua OPM ** 25.0% 20.4% 19.2% 19.4% 20.4% 20.0% 20.2% 17.9% 17.1% 16.3% 15.4% 14.7% 14.7% 15.0% 13.5% 13.3% 11.4% 12.0% 11.7% 11.4% 9.1% 9.2% 10.0% Q4'18 Q1'19 Q2'19 Q1'20 Q4'19 Q3'19 GPM 0.0% Q3'18 Q4'18 ** Exclude gain/loss from fair value adjustment of biological assets Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 7.6% 5.0% Q3'19 Q2'19 Q1'19 Q4'18 Q3'18 Q2'18 Q1'18 4.7% Q4'19 Q1'20 P.18#20Thailand Operations - Export Destination Y2017 Y2018 Y2019 Asia 64% Others USA 3% 6% EU 27% Asia 68% Asia 69% EU 22% EU 20% Others USA 4% 6% Others USA 4% 7% Asia EU USA Others Asia EU USA Others Asia EU USA Others Farm Farm Farm THB 8,531 million +15% THB 7,473 million -12% THB 8,038 million +8% Asia 50% Others USA 5% 5% Asia Asia 50% 51% EU 40% EU 41% Others Others USA 4% 4% USA 2% 4% Asia EU USA Others Asia EU USA Others EU 44% Asia EU USA Others Food Food Food THB 21,796 million +3% THB 21,490 million - 1% THB 23,943 million +11% P. 19#21Consolidated Income Statement Highlight Full Year 2017 2018 % Change 2019 % Change Net sales 501,507 541,937 8% 532,573 -2% Gross Profit Margin (%) 12.0% 12.1% 14.3% EBITDA 32,420 39,559 22% 47,551 20% EBIT 11,172 17,151 54% 24,515 43% Share in Profit of Associates 7,983 Financial Costs (11,743) 8,343 (11,703) 5% 8,893 7% -0% (13,785) 18% Income Taxes Expense (251) Gain / (Loss) from FX (21) NET PROFIT 15,259 (203) 15,531 (6,212) 2,375% -867% (5,446) - 12% (10) 95% 2% 18,456 19% EPS (THB) # of capital shares* Paid-Up Capital Dividend (THB/Share) *Note: # of capital shares = No. of the weighted-avg. shares 1.91 1.82 2.18 7,720 8,185 8,185 8,611 8,611 8,611 0.75 0.65 0.70 P.20#22Unit: THB, m CPP CPF CAPEX & EBITDA CAPEX 30,475 27,135 25,240 6,034 9,438 6,527 10,503 21,037 20,608 14,737 3,194 2,840 2017 2018 2019 1Q20 32,420 EBITDA 39,559 47,551 Unit: THB, m EBITDA Margin% 13.9% 8.9% 7.3% 6.5% 19,224 2017 2018 2019 1Q20 EBITDA = Revenue from Sales of Goods - Cost of Sales of Goods + Other Income - Selling Expense Administrative Expense - Other Expense + Gain (Loss) from Foreign Exchange + Gain (Loss) on sales of property, plant & equipment+ Depreciation & Amortization + Depreciation of biological asset P.21#23Before Tax Consolidated Net Profit, ROA and ROE Net Profit Unit: THB, m Gain on fair value adjustment on investment in associates Divestment and Dividend | Equity (Share in Profit of Associates) EBIT CAGR +10% ROA ROA & ROE 3.5% 3.8% 4.0% 3.0% 2017 2018 2019 1Q20* 8,214 ROA = Net Income (include Non-Controlling Interest )/Average Total Asset 9,421 8,893 10,525 ROE 8,343 7,983 930 2,680 24,515 10.1% 9.3% 11.1% 11.3% 17,151 11,172 12,355 2017 2018 2019 1Q20 NP: 15,259 15,531 18,456 6,111 * LTM basis 2017 2018 2019 1020* ROE = Net Income (Exclude Non-Controlling Interest)/Average Total Equity (Exclude Non-Controlling Interest) P.22#24Consolidated Net Profit- Quarterly Unit : THB, m 1Q ■2Q 3Q 4Q 4,914 4,064 3,955 2,326 3,048 5,894 6,111 6,062 4,912 4,279 4,105 4,010 1,677 2017 2018 2019 2020 Full Year: 15,259 15,531 18,456 6,111 Net Profit P.23#25EPS & Dividends per Share Earnings Per Share Unit THB Per Share Dividends Unit THB Per Share CAGR +7% 1.91 1.82 2.18 Dividend Policy Semi-annually, not less than 30% of consolidated annual net profit 0.75 0.70 0.65 0.73 2017 2018 2019 1Q20 2017 2018 2019 P.24#26Appendix B Products & Raw Materials Price Trend#27Average Farm Prices - Thailand Thailand's Broiler price (THB/kg) 46.0 Y2018 41.0 36.0 32.3 29.8 29.6 31.0 29.0 Y2019 Average Price Y18 Y19 Y20 Y2020 30.2 33.2 31.5 % Chg +10% -5% 34.4 33.2 32.5 32.7 31.5 31.0 26.0 1Q18 2018 3Q18 4Q18 1Q19 90.0 80.0 70.0 60.0 50.0 44.8 Y2018 2019 3Q19 4Q19 1Q20 Current Price Thailand's Pork price (THB/kg) 72.8 70.0 62.2 60.9 57.5 Y2019 62.1 58.1 Average Price Y18 Y19 Y20 Y2020 56.3 65.7 70.3 % Chg +17% +7% 70.3 68.0 40.0 Source: CPF 1Q18 2018 3018 4Q18 1Q19 2Q19 3019 4Q19 1Q20 Current Price P.26#28Average Farm Prices - Thailand Thailand's Fresh Egg price (THB/piece) Average Price Y18 Y19 Y20 4.0 Y2018 Y2019 Y2020 2.3 2.6 2.5 2.9 % Chg +11% -4% 2.7 3.0 2.5 2.6 2.6 2.6 2.5 2.2 2.2 2.1 2.0 1.0 1Q18 2018 3Q18 4Q18 1Q19 2019 3Q19 4Q19 1Q20 Current Price 400.0 300.0 Y2018 Thailand's White Shrimp price (THB/Kg) Y2019 Average Price Y18 Y19 Y20 Y2020 147 142 144 % Chg -3% +1% Size 70 pieces/kg 172.0 200.0 156.7 146.3 130.7 138.0 136.7 133.0 142.0 144.0 135.0 100.0 0.0 Source: CPF 1Q18 2018 3Q18 4Q18 1Q19 2019 3019 4Q19 1Q20 Current Price P.27#2915.0 10.0 5.0 Average Raw material Prices - Thailand Thailand's Corn price (THB/kg) Average Price Y18 Y19 Y20 10.6 9.8 9.8 9.7 9.1 9.0 9.2 9.0 8.6 8.8 9.8 9.2 8.6 % Chg -7% -7% 0.0 Y2018 1Q18 2Q18 3Q18 4Q18 1Q19 Thailand's Soybean Meal price (THB/kg) Y2019 Y2020 2Q19 3Q19 4Q19 1Q20 Current Price Average Price 30.0 Y18 Y19 Y20 25.0 16.5 14.7 14.2 % Chg -11% -3% 20.0 16.3 16.6 17.0 16.1 15.0 14.8 14.6 14.3 14.2 14.1 15.0 Y2018 Y2019 Y2020 10.0 1Q18 2018 3Q18 4Q18 1Q19 2019 3Q19 4Q19 1Q20 Current Price Thailand's Fishmeal price (THB/kg) 55.0 48.4 50.0 41.6 45.0 37.8 36.7 40.0 32.2 35.0 26.6 27.3 27.6 26.7 Average Price Y18 Y19 Y20 41.0 28.4 26.7 % Chg -31% -6% 26.0 30.0 25.0 Y2018 Y2019 Y2020 Source: CPF 20.0 1Q18 2018 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 Current Price P.28#3040,000 Vietnam: Average Market Price and Major Feed Raw Materials 30,254 30,376 28,487 27,632 30,000 26,299 25,671 22,872 32,243 23,376 Broiler (VND/kg) 20,000 1018 2018 3Q18 4Q18 1Q19 2019 3Q19 4Q19 80,000 1Q20 76,625 65,391 60,000 50,693 49,241 42,407 46,503 35,726 38,422 30,895 40,000 Swine (VND/kg) 20,000 1Q18 2018 3Q18 4Q18 1Q19 2019 3Q19 4Q19 1Q20 10,000 8,000 5,475 5,700 5,037 5,385 5,176 5,191 6,000 5,027 5,203 5,204 4,000 Corn (VND/kg) 2,000 1Q18 2018 3Q18 4Q18 1Q19 2Q19 3019 4Q19 1Q20 20,000 15,000 10,767 11,456 9,239 10,450 10,153 9,603 9,348 9,369 9,176 10,000 Soybean Meal (VND/kg) 5,000 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 Source: CPF VND 1 THB 0.0014 P.29#31Turkey: Average Market Price and Major Feed Raw Materials 6.00 4.77 4.59 4.67 4.67 4.72 4.91 4.20 3.67 3.36 4.00 2.00 0.00 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3019 4Q19 1Q20 1.50 1.23 1.29 1.22 1.06 1.08 1.13 1.19 0.94 0.86 1.00 0.50 0.00 1Q18 2018 3Q18 4Q18 1Q19 2Q19 3Q19 4019 1Q20 4.00 3.11 3.17 3.00 2.31 2.45 1.99 2.48 2.11 2.17 1.62 2.00 1.00 0.00 1Q18 2018 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 Source: CPF TRY 1 THB 4.68 Broiler (TRY/kg) Corn (TRY/kg) Soybean Meal (TRY/kg) P.30#32150.0 India: Average Market Price and Major Feed Raw Materials 91.6 81.4 75.8 100.0 68.1 69.8 72.5 64.2 61.7 50.9 50.0 Broiler (INR/kg) 0.0 1Q18 2018 3Q18 4Q18 1Q19 2019 3Q19 4Q19 1Q20 500.0 400.0 303 302 305 275 287 283 290 257 300.0 224 200.0 100.0 1Q18 2018 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 30.0 25.2 23.0 20.7 21.4 19.5 16.8 20.0 13.4 13.7 15.0 10.0 0.0 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3019 4Q19 1Q20 60.0 50.0 37.4 32.3 34.5 36.2 37.6 39.3 39.9 36.6 32.9 40.0 30.0 20.0 10.0 1Q18 2018 3Q18 4Q18 1Q19 2Q19 3019 4019 1Q20 Source: CPF INR 1 = THB 0.43 Shrimp (60 pieces) (INR/kg) Corn (INR/kg) Soybean Meal (INR/kg) P.31#33Russia: Average Market Price and Major Feed Raw Materials 120.0 110.0 99.1 101.1 96.5 94.5 100.0 90.1 81.8 81.2 81.4 80.0 Swine (RUB/kg) 60.0 1Q18 2018 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 120.0 110.4 98.8 101.9 95.7 95.4 91.1 100.0 87.5 83.2 73.6 80.0 Broiler (RUB/kg) 60.0 1Q18 2018 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 20.0 12.9 12.6 15.0 11.3 9.1 9.8 9.9 10.8 11.7 10.0 6.8 5.0 Wheat (RUB/kg) 0.0 1Q18 2018 3Q18 4Q18 1Q19 2Q19 3019 4Q19 1Q20 50.0 42.3 39.6 38.8 40.0 34.8 32.9 34.0 31.9 32.8 30.0 30.0 Soybean Meal (RUB/kg) 20.0 1Q18 2018 Source: CPF 3Q18 4Q18 1019 2Q19 3Q19 4Q19 1Q20 RUB 1 = THB 0.44 P.32#34Appendix C - Group of CPP&CTEI's Associate Companies & Joint Ventures - – Investment & Financing Activities#35As of December 31, 2019 Group of CPP & CTEI's Associate & Joint Ventures No. 1 2 3 4 5 сл Associates Chia Tai Conti(Cixi) Investment Management Ltd. Conti Chia Tai International Ltd. Ningxia Xiao Ming Animal Husbandary Co., Ltd. Qingdao Yi Bang Bio-Engineering Co., Ltd. Zhan Jiang Deni Carburetor Co., Ltd. 6 Cixi Zhuda Invetment Center (Limited Partnership) Type of Business Provision of Consulting service on economic and trade Production and sale of animal feed Production and sale of commercial layerchicks Produuction and sale of animal caccines Motorcycle carburetor and auto parts production and distribution Invesmtnet No. 1 2 3 4 Joint Ventures Beijing Chia Tai Feedmill Co., Ltd. ECI Metro Investment Co., Ltd. Handan Chia Tai Feed Co., Lrd. Henan East Chai Tai Co., Ltd. Type of Business Production and sale of animal feed Investment and trade of machinery and spare parts Production and sale of animal feed Produciton and sale of animal feed Direct and Indirect Interest (%) 26.12 26.12 8.40 6.27 14.12 0.52 Direct and Indirect Interest (%) 26.12 25.21 26.12 26.12 P.34#36January Sheng Da Foods Co.,Ltd. Sales of Agri Products & International trade 100.00% NT$ 100 m 2020 Investment and Financing Activities February Five Star Trademark 100% THB 349 m Announcement Charoen Pokphand Holdings (Malaysia) Fully integrated poultry business 50.25% THB 1,345 m March Announcement TESCO Tesco Asia Group Retail business 20.00% USD. 1,500 m Financing Activities Thai Baht Debenture by CPF Tenor 4-15 years (@-3-4 %) P.35#37Appendix D Product Samples & Retail Outlet Formats#38เวฟ อก HOTDOG CHEESE ฮอตดอกชีส ซอสค็อกเทล Food Retail Products CP) MORE ปี สม EU BUCHER C อปลา 70 ไส้กรอก . ชีสเม 130 CLASSIC | รสดั้งเดิม ไส้กรอกอ 10 S 2 UFARM NATURALLY TASTY 12 100% 0 NATURAL PRODUCT Bonja Chicken fade- เลี้ยงด้วยข่าว อ Brown Rice RAISED WITHOUT Antibiotics BITING NSE ปลาแพนกาเซียส htt UR CUSTIL GIO CP Delight โซเดียมลดลง 47% สเต็กแฮมรมควันสูตรลดโซเดียม Lower Sodium Smoked Ham Steak คราช) CP อกไก่นุ่ม ปรุงรส าเร็จ AGCHODAY ACT ✔ mw on 80 1 oun.. CHICKEN RING Gul Mart บะหนีปาเกียว CP SHRIMP WONTONÜLER Made with Whole Shrimp หนัก 500 กม 199 CP ไข่ตุ๋นคับ ชลมให้ลับและน้ำชุบด SHRIMP WONTON Sสคลาสสิค น Budo ammas un ceann S น้าหนักสุทธิ VETIVESH 1000 www.vage CP) Cape Free ไข่ต้ม LITY Jasent vs. meiji PROTEÏN os ZERO SUCROSE PROTEIN 25 90% Bulgaria gostoOOON. meji Bulgaria gasluuu0% (CP)ช็คฟิงเกอร์ รสโนริ สาหร่าย Red Band Mus Vihar Umunens 100 Net Weight Intoncs salutande in BE LOV สร้อยพร้อมทาน นํ้าหนักสารลูกม Net WeighteSU บานพัพ 2 80 เทใบโครเวฟ Delight อกไก่นุ่มหั่นเต๋า เทคน Diced Tender Chicken Breast Ussy 800 nu 800, 1nusoulinn 120 Alaanaos CP BALANCE CP BALANCE Meal อาหารมังสวิรัต Vegetarian style บะหมี่ผักโมโรเฮยะ พัดพริกสดมังสวิรัช True CLIO MEAT FREE CP KUROBUTA หมูว่า ซีพี-คูโรบูต พอร์คช็อพ พริกไทย Kunbula Punk Chop Back Peper S TENDER Ready to cook Net Weight 200g ปีหน้า 2005 9498-2003 ได้จ๊อ sarwo BURGER ดับเบิ้ลหมูชีส CP Double-Pork & Cheese เอห 284 2 ขาหมูและหมูสามชั้นคูโรบูตะในน้ำ (ซีพี) Soya Kurobuta Pork Knuckle and Bly (CP Brand) เบ USS 2 ของ พระไ นัส 500 กรัม Net Weight g P.37#39Food Retail Products REAL FOOD TASTE INC. CHARGRILLED CHICKEN APPROVED 100% REAL FOOD TASTE INC. APPROVED 100% CHARGRILLED CHICKEN FILLET ORIGINAL READY TO EAT FILLET SPICY CP X 醃漬去骨 湖鹽風味雞腿排 Marinade Boneless Chicken Leg (Garlic) 謝浮標示配方一無添加選精品質改劑等化學添加物, P(V)RE Exth Cresse 卜蜂 圈圈雞 (雞肉起司圈 Chicken Cheese Rings CP Original Chicken Pop Corn Popcorn Ayam CP 無骨香脆 鹽酥雞 MINI FRIED CHICKEN விரு 黒胡椒ソース照り焼き チキン LOWER FAT PEPPER KICKS SAME PKINLESS BLACK PEPPER ●湖鹽減鈉47% READY TO EAT 純釀造醬油醃漬 (需冷凍 210g 冷凍保存 700 Kery our plant cla P[V]RE Kitchen Joy Delicious! GRAB IT SHRIMP "fleak burger HAI-CUBE Spicy Nocken FAST FIV Aber CHICKEN SWEET & SOUR with rice NOODLES CHICKEN THAI BASIL НЕЗАРЕ 30 Net wt Authentic Asia THAI GREEN CURRY CHICKEN WITH JASMINE RICE CP GOURMET Glass Noodles with Baked Shrimps Du thị Th CHIPS CHIP NET NEIGHT 250g HAT-CUBE indian-Cube Chicken Tikka Masala Authentic A CHIOSTA SPAHOL Sentr HOW WE Authentic Asia PEKING STYLE AROMATIC CRISPY DUCK PANCAKE KIT 5 ANCHES Authentic Dich vì rung hiện cây Tha CHIP CHIP Contain Nen Spicy CP GOURMET wahdavunanyalsy BW ステーキパスタのキーマオ ODUCT OF THALAND Omega Collagen Protein Canxi Omega Collagen Protein Canxi Indian-Cube Cheer Kitchen day RED CURRY SPRING ROLLS 10 VEGIT UPL SAVOURY YAKISOBA R HO GRANDE CP PORRAN Authentic SHOP MONTON SOUP WITH NOODLEY Asia SOUPE OF AUS ON CVETELAC S COD Authentic Asia Your journey throux Asian Cuisin Thai Massaman Curry Chicken with Jasmine Rice Op Messaman carry met jasminet, Poulet curry Masama audz Jasmin Hun Nasaman Curry mit laminals! Pollo el currymessaman conomazin Neo lamine con Polt Masam Curry CHARDEN CP Authentic Asia Your journey through Asian Cuisine Thai Red Curry Chicken with Jasmine Rice Kip rade curry met jasmijanist/ Poulet curry rouge auriz Jasmin/Huhn roter Curry mit Jasmin Reis/Pollo al curry rojo con arroz jaamin/ Rise Jasmine con pollo ecurry rosso CE 350g (CP) Jaranans 220 NET WEIGHT CL PUCDONER 100000 280 本圖片僅供網漫 CP Whole Cooked String VEG IT UP! THAI BASIL SAUCE 300 Whole Cooked Shrimp CP Crevettes entières cuites 350g 750W Su 31/40 Net Weight/400g (14.10) Rods ne CP 猪肉白菜蒸饺 6 台式卤肉包 正大機品 正大食品 16057:2015 10 P.38 JAPANESE TASTE#40Food Retail Products Michelina's Bellisio FOODS the beautiful foods company AUTHENTICO Macaroni & Cheese Bake BOSTON Home Side Molk MARKER -Pulled- CHICKEN BOWL WITH Sweet & Smoky BBQ SAUCE PULLED CHOREN SMOTHERED INA.SWEET & SMOKY SAUCE WITH HOTINI PASTA INA CREAMY THREE-CHEESE SALICE New! 329 PROTEIN SuperDrob SuperDrob Super pomysły w folii do pieczenia klasyczne Super Roladki tryn bowlin super soczyste i aromatyczne rescent OR ANTERNATIONAL COALITY POCOD Crescent FINE FOODS chicken mini kievs NO HACEP 100% POLSKI CHON POLEKA PEDDUKCJA Smaczne NOWOŚĆ! DO PIECZENIA WIZ EMATANTORINI 500g 240g www.superd ob.pl kids just resist EatingWell NEW! BREAKFAST SAUSAGE SCRAMBLE Sausage & sanbiet namaxell pepper suce all natural loveatifust Sausage NETT 9.5 0 19 11 12 COC THOUGHTS SuperDrob SuperPomysły na przekąski do szkoły i pracy! HAWAJE SuperWrap 2.992/szt WRAP GYROS DOG Super Wrap 2.99 2/szt SuperWrap 49 l/ SuperDrob surprising CHICKEN SuperFillet 10 With Draccol Duckwheat and peas Net weight 160 ge HIGH Quality Chicken Meat Bolly 1259 15g protse CASE FREE 1 cup ATKINS LOW CARB LIVING Shrimp Scampi Shrimp with pasta immi and we bell peppers in a gelic sam sa 8G HET CARES 21G PROFI NET INT 002 (250) EN DE SO RIGHT CHICKEN WITH JAMAICAN STYLE JERK SAUCE WHITE CHEKEN WITH RICEVEGETABLES NAMAN SITE IN SALE SuperDrob Wyśmienite Kiełbaski SuperDrob OWOCOWY SuperFilet Crescent FINE FOODS CHICKEN SAUSAGES Dad aceded COLOURS MOR MSG NO FLAVOURS MACCE SS 4.792139 001019 WITCH MT750g 40074 Vegetable Samosa ette custa P.39#41ห้าดาว Food Service : Five Stars Chain Vietnam FIVE STAR HOTLINE: 1900 6 India FIVE STAR ห้าดาว FIVE STAR More FIVE STAR Hee Laos Cambodia ECP FIVE STAR T FIVESTAR te FIVE STA on ແຊບ Than 5,000 Outlets FIVESTAR Philippines The Best Chicken for Everyone CHICKEN STAR= The Best Chicken for Everyone p199 p35 P.40#42CHESTER'S Food Service : Chester's ชุดข้าวไก่คาราเกะ 188 Outlets 0 1145 l Chester's CHESTER'S Chester' ชุดข้าวไก่เผ็ดเชสเตอร์ และ ไก่ย่าง 1 ชิ้น และ ชิกเก้นฟิงเกอร์ ภาพอา และภายนะ หนดเพื่อการมา ที่สุด เมนูซอสน้ำปลา เพียง King of Fish Sauce 75,- ปกติ 82- ข้าวไก่กรอบ ชอลน่าปลา ภาพชะละกา ะ ต ก การ P.41#43Food Retail Outlets ชีพี เฟรชมาร์ท CP Fresh Mart คุ้มค่าทุกวัน ใกล้บ้านคุณ 322 Stores Food World 21 Stores Fresh Mart บทสาขาใกล้บ้านคุณ Lining 1788 Dalee (CP) 5 Foods to che World w FoodWorld Food World 1077 Cook tojandam THE GR BW Worded CP Food World P.42#44CP CHOZEN LIMITED CHOZEN NOODLE 23 Kiosks CHO All Man Dishes include Rice or Noodles ZEN NOO DLE A Moo CHO CHO ZEN ZEN NOO NOO OLEDLE CHO ZEN NOO FRESHLY MADE ASIA DLE CHO ZEN ZE NOO NOO -DLEDE roadchef id we get it right? Souther Visit telle.com to us your feedbackt iPod CHOZEN NOODLE CHOZEN NOODLE CH CH CH ERY CHO CHO ZE ZE ZE NO NO ZEN ZE NO NO NO DL D DL UNZ CH DLE DL CHO EN 00 LE CHO 100 CHOZEN NOODLE NOODLES DON Yours P.43#45Dak Galbi & WOK Station 8 Branches DAK WODEAN GAL8) WOK STATION HOW TO WOK onsand alcata STEP TO ORDER 5 Branches WO P.44#46PUT OUR Disclaimer CPF HE RT INTO FOOD "This presentation contains some information from other sources that CPF does not make any representations regarding the use, validity, accuracy, or reliability of, or the results of the use of information, data but not limited to, all text, and images ("the Content") on this presentation. Some contents may contain forward-looking statements that based on management's view upon the information currently available to us. These statements are subject to certain risks and uncertainties that could cause the actual results to be materially differed from what had been previously stated. The Content and the Forward-looking statements state within this presentation only as the date they made. The Company undertakes no responsibility on the change after that date stated herein." The material set forth herein is for informational purposes only. It should not be construed, as an offer of securities for sale. Investor Relations Office Charoen Pokphand Foods Public Company Limited 313 C.P.Tower Building, 26th Floor, Silom Road, Bangrak, Bangkok 10500, Thailand. Tel (662) 766-8322 / (662) 766-8351 Fax. (662) 638-2942 https://www.cpfworldwide.com/en/investor Email: [email protected] For Further Information: Annual Report & Annual Review: https://www.cpfworldwide.com/en/investors/annual Sustainability Report: https://www.cpfworldwide.com/en/sustainability/report#47Empty