#1Charoen Pokphand Foods Public Company Limited CPF PUT OUR HERT INTO FOOD Q1/2022 Results Briefing Investor Presentation May 13, 2022#200000 Contents Business Overview 02 M Q1/2022 Financial Results 09 FY2022 Outlook Appendix A: 3Yr Historical Results B: Products & Raw Materials Price Trend C: Group of Associate Companies & Joint Ventures D: Product Sample & Retail Outlet Format 17 P.1#3Why Invest in CPF Our Vision is... Kitchen The World "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" g One of the world's Leaders Animal feed manufacturing, swine production, and shrimp integrated business Diversified Portfolio operations and investment in 17 countries exports to more than 40 countries Multi-species animal proteins mainly swine, poultry, shrimp catered to over 4 billion population We are recognized as SET 50 in Stock Exchange of Thailand Agro & Food Industry Sector Member of Dow Jones Sustainability Indices (Emerging Markets) Member of FTSE4Good Index Series Ranked "Excellent" for CGR Scoring by Thai Institute of Directors (IOD) ASEAN Asset Class PLCs from ASEAN Corporate Governance Scorecard (ACGS) P.2#4Sustainability Commit to support SUSTAINABLE GOALS DEVELOPMENT PEOPLE: Improving Quality of Life JONO POVERTY PLANET: Protecting our Planet LNCLAVILLION 12 EXPOGALE REPENCES 13 GMT 14 15 PROSPERITY: Creating Prosperity 10 S ATSIGABLE LAS SECENT WISH AND ECONOMIC GROMER PEACE: Building Peace 16 Recognized as Sustainable company WE SUPPORT GLOBAL COMPACT Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA Silver Class CDP DRIVING SUSTAINABLE ECONOMIES Climate/Water/Forest MSCI Since 2017 FTSE4Good Since 2017 PARTNERSHIP: Partnering for Collaboration 17 THSI THAILAND SUSTAINABILITY INVESTMENT 2020 Since 2015 SET AWARDS Since 2018 CAC CERTIFIED ✰✰ Since 2017 Since 2016 P.3#5Company Highlights Market Cap THB 214 billion (or ~USD6.2 billion) as of May 12, 2022 Sales in FY2021 THB 513 billion (or USD 15.9 billion) 8,611 million shares (paid-up) with par THB 1.00 per share Book Value THB 24.41* per share as of Mar 31, 2022 Major Shareholder Charoen Pokphand Group Ltd. with 51.43%** of paid-up capital as of Mar 14, 2022 Sales Breakdown Livestock, 85% Farm, 54% TH-Export, 6% Feed, 25% TH- Domestic, 31% Aquaculture, 15% Food, 21% By Business By Product By Operations International, 63% Note: USD1 = THB 34.69 (as of May 12, 2022) * Exclude Non-Controlling Interests (NCI) and Subordinated Perpetual Debentures ** CPG Group is a reporting group to be in compliance with Section 246 and Section 247 of the Securities and Exchange Act of 2535 (as amended) 4 listed investments onboard (HKSE:3839, TWSE: 1215, SET:CPALL, SET:MAKRO ) 41 series of debentures listed on Thai Bond Market Association 1 exchangeable Bonds on SGX= Credit Rating A+ with "Stable" Outlook by TRIS Rating as of Mar 31, 2022 P.4#6Vertically Integrated Business in Thailand The integrated food process to offer top-quality products in terms of nutrition, taste, food safety, and traceability with the focus to maintain world-class, modern production process as well as efficient and ecofriendly consumption of natural resources. I Feedmilling Breeding Farming I Processing Adding Value Feed Breeder Live Animal Fresh Meat Food & Ready Meal FEED Business TRADING Business Farm FARM Business Food & Retail Outlets FOOD Business ma Hi Pörk CHESTER'S Food World CP PORK SHOP ตะหลิว กระทะเหล็ก เ COFFEE DAK DALB CP Global Brand Recognition WOK P.5#7CPF Geographical Footprints . Operations and investment in 17 countries catered to > 4 billion population Export to more than 40 countries across 5 continents Russia Livestock feed Swine farming Chicken integrated business UK Food & Trading business Belgium Ready to eat foods Brazil Shrimp farming & primary processing Turkey Chicken integrated business Poland Hatchery farm Food processing plants Seafood business IPlant-based meat Sri Lanka Canada Swine integrated business USA Ready to eat foods Philippines Livestock integrated business and aquaculture feed and farming Laos Livestock integrated business Cambodia Livestock integrated business China Ready to eat foods Livestock and aquaculture feed Livestock and aquaculture farming Vietnam Thailand Malaysia India Chicken integrated business Aquatic feed, Shrimp Hatchery & Processing ROC (Taiwan) Livestock integrated business Ready to eat foods Livestock and aquaculture integrated businesses Livestock and aquaculture integrated business Livestock and aquaculture integrated businesses P.6#8Our Strategy for Growth ■ Fully integrated business model 2 Globalization by establishing a proper business model suitable for each strategic market Feed Business Feed Manufacturing and Distribution Farm Business Animal Breeding, Animal Farming and Primary Processing Food business Production of Canked and Ready Meal Products Expand Market in 17 Countries www Value-added business by expanding Cheeva Pork Benja Chicken MEAT ZERO 100: NATURAL 3 PLANT-BASED portfolio towards innovative products and services to serve rising demands 100 100: 0%B 0% 006luu WARM Digital Transformation utilize digital tools to 4 improve operation efficiency and to better serve needs of customer. Smart Farm СЛ Smart Factory Sustainability ensure sustainable growth by creating shared value for society, environment and well as economic value. SUSTAINABLE GOALS DEVELOPMENT Fight against Covid-19 Promote Food Security & Good Corporate Citizen "Robot Accountant" WE SUPPORT UN GLOR COMPACT P.7#9CPF Operation Structure (as of Mar 31, 2022) 37% of Sales CPF Thailand 32% of Sales Domestic 5% of Sales Export (2.6% of Sales export through Subsidiaries) 1 CPF 63% of Sales CPF International Q1/2022: Sales: THB 138,887 m Net Profit: THB 2,842 m Associates & Joint Ventures (2) 26% of sales 37% of sales CPP (76.24%) (1) TW: 1215 CPE Taiwan (39.00%) UK CP Meiji (59.99%) 5% of sales 21% of sales Westbridge USA(Bellisio) China Vietnam Russia RBPI 2 3 S&W CP Cambodia India (99.98%) (99.99%) (100.00%) 5 (100.00%) (75.82%) 6 (99.99%) (100.00%) 7 4 HyLife (Canada) (50.10%) 16 Ross Arbor (49.99%) (49.98%) SuperDrob (Poland) (49.45%) Camanor (Brazil) (40.00%) 17 SET: CP ALL SET: MAKRO 13 CPF Poland (66.67%) CP(Aqua) India Malaysia 14 Belgium (Tops Food) (84.07%) Philippines 15 Sri Lanka (Norfolk Foods) (80.00%) Turkey (99.99%) (75.00%) (99.99%) (99.99%) 10 (100.00%) 11 8 9 (33.83%) (8.85%) Well Well Invest S.A.(33.33%) Group of CPP's Associate Companies & JCE Chia Tai Investment (26.69%) (3) HKSE:3839 CTEI (50.43%) Laos Note: % represent percent holding by CPF both direct and indirect (1) Based on total issued shares (The privatization of CPP completed on 18 January 2022) (2) See Appendix C for full list of associates & joint ventures (3) CPF holds 8.85% in MAKRO after PO in December 2021 (99.99%) 12 P.8#10Performance Summary Unit: THB, m Q1/2021 Q1/2022 %Chg. SALES REVENUE 119,346 138,887 16% Gross Profit Margin 19.9% 12.8% EBITDA 19,486 13,615 -30% EBITDA Margin 16.3% 9.8% G/L on FV of Biological Assets -74 1,098 1584% Share in Profit of Associates 2,043 -336 -116% NET PROFIT 6,945 2,842 -59% Net Profit Margin 5.8% 2.0% Q1/2022 vs Q1/2021 Revenue continues to grow . Thailand operation up 13%, international operation up 18% Gross profit margin weaken especially from Vietnam • Vietnam swine prices declined YoY Raw material increased partly from Russia-Ukraine situation Share in profit of associates down mainly from weak CTI performance P.9#11Q1/2022: Sales & Profit Margin by Business In THB, m Q1/2021 Q1/2022 +13% 44,586 39,385 +15% 74,430 64,767 +42% +14% 6,156 7,034 12,837 9,038 +16% 138,887 119,346 Thai-Livestock Thai-Aqua Overseas-Livestock Overseas-Aqua TOTAL GPM 17.1% 15.4% 13.0% 11.8% 23.6% 11.6% 10.6% 1 1.1% 19.9% 12.8% OPM 6.6% 7.2% 6.4% 5.4% 15.9% 3.8% 1.3% 2.5% 1 1.2% 4.9% Exclude gain/loss from fair value adjustment of biological assets P.10#12Q1/2022: Sales Structure by Business Sales Breakdown Livestock Aquaculture Total Q1/21 Q1/22 %Change Q1/21 Q1/22 %Change Q1/21 Q1/22 %Change Thailand 39,385 44,586 13% 6,156 7,034 14% 45,541 51,620 13% Domestic 33,483 38,379 15% 5,146 5,941 15% 38,629 44,320 15% Export 5,902 6,207 5% 1,010 1,093 8% 6,912 7,300 6% China 6,145 7,406 21% 96 111 16% 6,241 7,517 20% Vietnam 24,004 23,666 -1% 3,937 5,288 34% 27,941 28,954 4% Others 34,618 43,358 25% 5,005 7,438 49% 39,623 50,796 28% Total 104,152 119,016 14% 15,194 19,871 31% 119,346 138,887 16% % of Total Sales 87% 86% 13% 14% 100% 100% ■ Thailand 37% ■China • Thailand 37% ■ Vietnam ⚫ China ■ Others 5% ⚫ Vietnam 21% 63% of Sale Revenue P.11#13Q1/2022: Sales Structure by Products Sales Breakdown by Products Feed Farm Food Total Q1/21 Q1/22 %Change Q1/21 Q1/22 % Change Q1/21 Q1/22 % Change Q1/21 Q1/22 %Change Thailand 10,036 11,044 10% 24,695 27,879 13% 10,810 12,697 17% 45,541 51,620 13% Domestic 10,024 11,025 10% Export 12 19 58% 22,663 2,032 26,479 1,400 17% -31% 5,942 4,868 6,816 15% 38,629 44,320 15% 5,881 21% 6,912 7,300 6% China 0 0 0% 4,032 4,892 21% 2,209 2,625 19% 6,241 7,517 20% Vietnam 6,791 8,771 29% 19,850 18,469 -7% 1,300 1,714 32% 27,941 28,954 4% Others 10,204 13,314 30% 19,655 25,261 29% 9,764 12,221 25% 39,623 50,796 28% Total 27,031 33,129 23% 68,232 76,501 12% 24,083 29,257 21% 119,346 138,887 16% Feed, Thailand 21% Food, 25% Farm, Farm, 65% 54% Feed, Farm, 64% 30% China Vietnam Feed, 26% Others Food, Food, 35% 6% Food, 24% Farm, Farm, 50% 55% Feed, 24% Total Food, 21% THB 51,620 m THB 7,517 m THB 28,954 m THB 50,796 m THB 138,887 m % to sales 37% 5% 21% 37% 100% P.12#14Consolidated Income Statement Highlight Unit: THB, m Net sales Q1/2021 Q1/2022 %Chg. 119,346 138,887 16% Gross Profit Margin 19.9% 12.8% EBIT 12,708 6,134 -52% EBIT Margin 10.6% 4.4% EBITDA 19,486 13,615 -30% EBITDA Margin 16.3% 9.8% G/L on FV of Biological Assets (74) 1,098 1584% Financial Costs (4,098) (4,469) 9% Income Taxes Expense (2,117) (1,158) -45% Share in Profit of Associates 2,043 (336) -116% G/L on Sales of Invt. & Div. 0 1,595 100% NET PROFIT 6,945 2,842 -59% Net Profit Margin 5.8% 2.0% EPS (THB) # of capital shares Paid-Up Capital 0.85 0.34 7,988 7,937 8,611 8,611 P. 13#15Financial Status (As of Mar 31,2022) Interest Bearing Debt: THB 450,201 m * (THB, m) 430,717 450,201 384,246 331,107 2019 2020 2021 Cash and Cash Equivalent Net Debt to Equity & Net Debt to EBITDA ■Net D/E 1.62x 1.37x 1.25x 1.36x Q1'22 (THB, m) 57,035 32,094 36,686 25,703 2019 ■Net D/EBITDA 2020 2021 Q1'22 8.5x 7.1x 5.8x 2019 2020 2021 Q1'22 3.6x Current 2019 2020 2021 Q1'22* Portion, S/T Loan, 11% 22% Bond, 43% L/T Loan, 24% Bond Rating "A+" with "Stable" Outlook by Tris Rating Co., Ltd Remark: Net Debt = Interest Bearing Debt - Cash and Cash Equivalents Selling EBITDA = Revenue from Sales of Goods - Cost of Sales of Goods + Other Income - Expense - Administrative Expense - Other Expense + Gain (Loss) from Foreign Exchange + Gain (Loss) on sales of property, plant & equipment+ Depreciation & Amortization + Depreciation of biological asset + dividend income from associates & Joint venture Cost of Y2019 Y2020 Y2021 Q1'22 Debts 3.90% 3.31% 3.48% 3.54% * LTM basis *Remark: Adjusted to exclude lease liabilities according to TFRS 16 for comparison purpose P.14#16Announcement January February March FY2022 Investment and Financing Activities Withdrawal of listing of the ordinary shares of CPP Effective on 18 January 2022 Financing Activity Replacement of existing perpetual bond THB 15,000 m by CPF Announcement April C.P.Vietnam Corporation (CPV) applies for approval of share distribution to become a public company in Vietnam P.15#17CPF's Investment in Listed Companies Stock Price (Local Curr.) Market Cap. (THB mm) CPF Holding (%) Holding Value (THB mm) (As of Mar 31, 2022) CPALL THB 65.00 583,902 33.83% 197,534 (SET:CPALL) Siam Makro THB 39.75 420,567 8.85% 37,220 (SET:Makro) TRUE THB 5.15 171,846 2.21% 3,798 (SET:TRUE) CPE TWD 81.30 25,274 39.00% 9,857 (TWSE: 1215) CTEI HKD 1.25 1,580 50.43% 797 (HKSE:3839) Total 249,205 P. 16#18FY2022 Outlook Growth Target International business expansion continues to drive growth. Key Drivers & Focus ■Capacity expansion in multiple countries. ■ Efficiency improvement to reduce cost of production ■ Expected higher meat prices in Thailand ■Consumption demand to improve post Covid-19 situation. Key Challenges Impact of Covid-19 on global economy Impact of Russia-Ukraine conflict African swine fever (ASF) outbreak in multiple countries Investment ■ Capex of approximately THB 25 billion (excluding M&A) P. 17#19Appendix A Highlights: 3Yr Historical Results#2025.0% -5.0% -10.0% Q1'20 Q2'20 Q3'20 15.0% 11.4% 11.8% 11.4% 10.7% 10.0% 25.0% 23.6% 20.4% 20.4% 20.1% 19.0% 18.6% 20.0% 15.9% Oversea-Livestock Q1'22 Q4'21 Q3'21 Q2'21 Q1'21 Q4'20 19.1% 20.0% 17.1% 15.4% 16.0% 14.7% 15.4% 20.0% 13.4% 16.3% 15.9% 15.0% 15.0% 13.1% 13.0% 10.0% 7.7% 7.6% 6.6% 7.2% 10.6% 9.9% 10.2% 5.3% 9.4% 5.2% 4.7% 3.0% 3.4% 10.0% 5.0% 5.8% 6.4% 3.4% 3.9% 5.0% 0.0% -2.2% -6.8% 0.0% Gross Profit Margin & Operating Profit Margin Thai-Livestock GPM OPM ** 25.0% Thai-Aqua GPM OPM** 11.8% -5.0% GPM OPM ** 25.0% -5.0% 20.0% 17.1% 16.8% 14.6% 11.4% 10.9% 15.0% 11.6% 10.8% 10.6% 11.1% 11.1% 9.1% 9.6% 8.6% 8.9% 7.1% 10.0% 7.0% 3.8% 3.7% 3.7% 5.0% 2.5% 1.3% 0.6% -0.8% 0.0% -1.7% Q1'22 Q4'21 Q3'21 Q2'21 GPM OPM ** Q1'21 Q4'20 Q3'20 Q2'20 Q1'20 Oversea-Aqua 5.4% 5.2% 3.3% -0.5% -4.1% 5.0% 0.0% -5.0% Q1'20 Q2'20 Q3'20 Q4'20 **Exclude gain/loss from fair value adjustment of biological assets Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q3'21 Q2'21 -0.5% Q1'21 Q4'20 Q3'20 Q2'20 Q1'20 Q4'21 Q1'22 P. 19#21Thailand Operations - Export Destination FY2020 FY2021 Q1/2022 Asia 81% Others USA EU 4% 6% 9% Asia 78% EU Others USA 6% 7% 9% Asia 85% Others 1% EU USA 4% 10% Asia EU USA Others Asia EU USA Others Asia EU USA Others Farm Farm Farm THB 8,506 million +6% THB 6,951 million -18% THB 1,400 million -31% Asia 54% Asia Asia 45% 45% EU 47% EU 45% EU 38% 2% Others USA Others USA 2% Others USA 3% 7% 6% 6% Asia EU USA Others Asia EU USA Others Asia EU USA Others Food Food Food THB 20,577 million -14% THB 22,086 million +7% THB 5,881 million +21% P.20#22Consolidated Income Statement Highlight Full Year FY2019 FY2020 % Change FY2021 % Change Net sales 532,573 589,713 11% 512,704 -13% Gross Profit Margin (%) 14.3% 18.2% 12.9% EBIT 24,511 53,364 118% 19,222 -64% EBITDA 51,765 91,207 76% 55,882 -39% Share in Profit of Associates 8,893 9,254 4% 4,167 -55% Financial Costs (13,785) (16,818) 22% (16,596) -1% Income Taxes Expense (5,446) (11,001) 102% 2,654 -76% Gain / (Loss) from FX (10) 994 10,040% 651 -35% Gain from Deconso. CTI Group 3,909 100% -100% Gain from EBT MAKRO 7,849 100% NET PROFIT 18,456 26,022 41% 13,028 -50% EPS (THB) # of capital shares* Paid-Up Capital Dividend (THB/Share) *Note: # of capital shares = No. of the weighted-avg. shares 2.18 3.14 1.56 8,185 8,105 7,970 8,611 8,611 8,611 0.70 1.00 0.65 P.21#23Unit: THB, m CPP CPF CAPEX & EBITDA CAPEX 25,240 26,523 24,035 5,772 10,503 13,197 7,903 III 14,737 16,132 13,326 1,403 4,369 2019 2020 2021 Q1'22 EBITDA 91,207 Unit: THB, m EBITDA Margin% 15.5% 55,882 51,765 9.8% 10.9% 9.7% 2019 2020 2021 13,615 Q1'22 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 + dividend income from associates & Joint venture P.22#24Before Tax Unit: THB, m Consolidated Net Profit, ROA and ROE Net Profit Gain on one time transaction Divestment and Dividend ROA | Equity (Share in Profit of Associates) EBIT 3.8% CAGR -16% 4,166 1,693 9,254 2019 ROA & ROE 6.3% 2020 1.7% 2021 ROA = Net Income (include Non-Controlling Interest )/Average Total Asset ROE 8,214 8,852 8,893 53,364 2,452 14.4% 4,167 1 1.1% 24,515 19,222 1,595 6,134 -336 2019 2020 2021 Q1'22 NP: 18,456 26,022 13,028 2,842 2019 2020 1.0% Q1'22 6.3% 4.2% 2021 Q1'22 ROE = Net Income (Exclude Non-Controlling Interest)/Average Total Equity (Exclude Non-Controlling Interest) * LTM basis P.23#25Unit: THB, m 1Q 2Q 3Q 4Q Consolidated Net Profit- Quarterly 6,062 4,279 4,105 4,010 7,475 6,945 6,720 6,111 6,028 6,408 4,738 2,842 Y2019 Y2020 Y2021 Y2022 -5,375 Full Year: Net Profit 18,456 26,022 13,028 2,842 P.24#26EPS & Dividends per Share Earnings Per Share Unit THB Per Share Dividends Unit THB Per Share 2.18 CAGR -15% 3.14 1.56 Dividend Policy Final Dividend Interim Dividend Semi-annually, not less than 30% of consolidated annual net profit 1.00 0.60 0.70 0.65 0.40 0.25 0.40 0.40 0.30 0.34 2019 2020 2021 Q1'22 2019 2020 2021 P.25#27Appendix B Products & Raw Materials Price Trend#2848.0 46.0 Average Farm Prices - Thailand Thailand's Broiler price (THB/kg) Average Price Y20 Y21 Y22 30.4 29.7 39.9 41.0 39.9 % Chg -2% +35% 44.0 42.0 40.0 38.0 34.2 36.0 34.0 31.5 31.3 30.2 32.0 29.7 29.0 29.3 30.0 24.9 28.0 26.0 24.0 22.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Current Price 120.0 110.0 100.0 90.0 80.0 70.3 66.0 70.0 60.0 Thailand's Pork price (THB/kg) 80.0 79.5 74.7 73.1 64.7 79.2 Average Price Y20 Y21 Y22 72.4 74.2 91.0 98.0 % Chg +3% +23% 91.0 50.0 Source: CPF 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q2 1 1Q22 Current Price P.27#29Average Farm Prices - Thailand Thailand's Fresh Egg price (THB/piece) Average Price Y20 Y21 Y22 5.0 2.5 2.7 3.1 % Chg +5% +15% 4.0 3.4 3.1 3.0 2.7 2.6 2.6 2.7 3.0 2.5 2.4 2.3 2.0 1.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q21 Current Price 400.0 300.0 Thailand's White Shrimp price (THB/Kg) 173.0 200.0 144.0 144.7 154.7 142.7 144.7 139.0 142.0 145.0 126.7 100.0 Average Price Y20 Y21 Y22 144 141 173 % Chg -2% +23% Size 70 pieces/kg 0.0 Source: CPF 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Current Price P.28#30Average Raw material Prices - Thailand Thailand's Corn price (THB/kg) Average Price 20.0 Y20 Y21 Y22 13.0 15.0 10.5 10.8 11.4 9.0 10.0 11.4 8.6 8.9 9.3 9.1 9.4 9.5 % Chg +12% +13% 10.0 5.0 0.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Current Price Thailand's Soybean Meal price (THB/kg) Average Price 30.0 Y20 Y21 Y22 23.0 14.8 19.5 21.4 25.0 21.4 19.3 19.6 20.0 19.1 % Chg +31% +10% 20.0 17.0 14.2 14.1 14.0 15.0 10.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Current Price Thailand's Fishmeal price (THB/kg) Average Price 55.0 Y20 Y21 Y22 50.0 41.0 29.5 35.8 37.2 45.0 39.0 36.7 37.5 37.2 40.0 % Chg +22% +4% 31.1 35.0 30.1 30.0 30.1 26.7 30.0 25.0 Source: CPF 20.0 P.29 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Current Price#3140,000 Vietnam: Average Market Price and Major Feed Raw Materials 27,083 28,514 27,285 30,000 24,912 23,376 22,884 23,892 25,352 17,972 20,000 Broiler (VND/kg) 10,000 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 100,000 79,285 77,231 76,625 80,000 74,360 68,344 68,813 51,517 52,809 60,000 41,602 40,000 Swine (VND/kg) 20,000 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 12,000 10,000 7,215 7,690 7,779 8,006 8,000 6,260 5,204 5,408 5,283 5,380 6,000 4,000 Corn (VND/kg) 2,000 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 20,000 13,646 13,241 15,000 11,117 12,315 11,844 12,014 9,176 9,584 9,610 10,000 Soybean Meal (VND/kg) 5,000 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Source: CPF VND 1 THB 0.0015 P.30#32Turkey: Average Market Price and Major Feed Raw Materials 20.00 16.00 12.00 14.55 10.31 9.18 8.01 7.26 8.00 4.91 5.62 5.81 5.93 4.00 0.00 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 6.00 4.30 5.00 4.00 3.16 2.47 2.18 3.00 1.76 1.89 1.29 1.40 1.47 2.00 1.00 0.00 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 12.00 9.35 10.00 8.00 6.07 6.00 3.73 4.20 4.59 4.32 2.45 2.81 2.84 4.00 2.00 0.00 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Source: CPF TRY 1 = THB 2.31 Broiler (TRY/kg) Corn (TRY/kg) Soybean Meal (TRY/kg) P.31#33150.0 India: Average Market Price and Major Feed Raw Materials 106.1 100.0 91.0 84.1 87.0 85.9 100.0 74.5 77.0 50.9 50.0 0.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 500.0 352 367 400.0 327 312 290 285 303 282 277 300.0 200.0 100.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 30.0 22.0 19.5 19.9 19.2 17.6 16.2 20.0 15.1 15.4 15.6 10.0 0.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 100.0 88.8 65.4 80.0 60.7 64.7 60.0 39.9 39.0 36.7 38.7 42.4 40.0 20.0 0.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Source: CPF INR 1 THB 0.44 Broiler (INR/kg) Shrimp (60 pieces) (INR/kg) Corn (INR/kg) Soybean Meal (INR/kg) P.32#34Russia: Average Market Price and Major Feed Raw Materials 140.0 123.1 115.5 110.4 120.0 103.3 102.4 105.8 93.1 100.0 86.3 81.7 80.0 Swine (RUB/kg) 60.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 160.0 127.0 140.0 118.4 120.4 120.0 97.4 111.5 115.9 87.5 88.6 91.2 100.0 80.0 Broiler (RUB/kg) 60.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 25.0 20.0 15.9 16.6 11.7 12.7 13.6 13.6 13.5 14.4 15.0 11.4 10.0 Wheat (RUB/kg) 5.0 0.0 1Q20 2020 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 80.0 70.0 54.2 60.0 46.4 49.0 44.9 43.2 43.6 50.0 35.7 32.8 32.3 40.0 Soybean Meal (RUB/kg) 30.0 20.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Source: CPF RUB 1 THB 0.42 P.33#35Cambodia: Average Market Price and Major Feed Raw Materials 20,000 16,000 14,032 13,901 12,580 13,187 11,785 11,987 12,541 11,514 12,000 9,643 8,000 Swine (KHR/kg) 4,000 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 1,500 1,468 1,345 1,400 1,305 1,261 1,300 1,218 1,135 1,200 1,056 1,093 1,059 1,100 1,000 900 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Corn (KHR/kg) 2,800 2,482 2,600 2,390 2,353 2,400 2,203 2,239 2,200 2,002 1,881 2,000 1,805 1,854 Soybean Meal (KHR/kg) 1,800 1,600 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Source: CPF KHR 1 = THB 0.0084 P.34#36Philippines: Average Market Price and Major Feed Raw Materials 200.0 170.0 175.0 180.0 161.7 153.0 156.0 144.7 160.0 127.3 140.0 119.3 120.0 100.0 Swine (RUB/kg) 100.0 80.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 140.0 120.0 114.5 90.0 95.2 95.0 100.0 70.3 72.0 82.9 79.1 64.5 80.0 60.0 Broiler (RUB/kg) 40.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 30.0 21.3 21.4 25.0 18.5 20.0 15.5 14.0 15.6 15.7 16.6 15.9 15.0 10.0 Corn (RUB/kg) 5.0 0.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 50.0 40.0 33.3 34.2 28.8 28.1 27.1 24.1 24.5 30.0 22.2 22.3 20.0 Soybean Meal (RUB/kg) 10.0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Source: CPF PHP 1 THB 0.65 P.35#37China: Average Market Price and Major Feed Raw Materials 36.0 36.5 40 31.8 31.4 32.1 20 19.9 14.9 15.8 14.6 Swine (RMB/kg) 0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q2 1 4Q21 1Q22 4 2.9 3.0 3.0 2.9 2.9 2.6 2.4 2.1 2.2 2 0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 6 נט 4.1 3.9 3.7 3.8 3.8 3.3 3.3 3.3 3.4 4 2 0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Source: The Ministry of Agriculture of PRC RMB 1 THB 5.14 Corn (RMB/kg) Soybean Meal (RMB/kg) P.36#38Appendix C Group of Associate Companies & Joint Ventures#39Group of Associate Companies & Joint Ventures Associates Lotus Distribution International Limited Arbor Acres Thailand Co., Ltd. Ross Breeders Siam Co., Ltd. CP ALL Public Company Limited Siam Makro Public Company Limited Nava 84 Co., Ltd. BHJ Kalino Food AB Siam Rivea Co., Ltd. A.P.P. Exterprise, Inc. Associates Under CPP Chia Tai Investment Co., Ltd. Type of Business Broiler Breeder business Broiler Breeder business Convinience store business Logistics busienss CPF's Direct and Indirect Interest (%) 49.98 49.99 33.83 20.50 Wholesale business 8.85 Investment 25.00 Distributor of meats and food products 15.08 Resturant 29.99 Farm business 39.60 Aniamal feed and swine business 26.69 Chia Tai Conti(Cixi) Investment Management Ltd. Provision of Consulting service on economic and trade 38.12 Conti Chia Tai International Ltd. Cixi Zhuda Investment Center (Limited Partnetship) Associates Under CTEI Zhan Jiang Deni Carburetor Co.Ltd. Production and sale of animal feed Investment 38.12 34.68 CP-Meiji Co., Ltd. SuperDrob S.A. Joint Ventures Westbridge Foods Holding B.V. Camanor Produtos Marinhos Ltda. Andhra Pradesh Broodstock Multiplicationcentre Pvt Ltd. HyLife Investments ltd. Feng Sheng Livestock Co., Ltd. Well Well Invest S.A.. CP-MP Logistics Joint Stock Company (Vietnam) Sao Ta Foods Joint Stock Company (Vietnam) Cloud Food System Joint Stock Company (Vietnam) Manufactures and distributes carburetor products Type of Business Production of dairy products Livestock buisness Food trading business Shrimp business Aqualculture business 14.12 CPF's Direct and Indirect Interest (%) 59.99 49.45 50.00 40.00 74.99 50.10 19.51 33.33 40.76 Seafood product preparation and packaging business Computer systems design and related services 20.71 19.40 Swine business Livestock business Plant-based meat products Logistics business Joint Ventures Under CTEI ECI Metro Investment Co.,Ltd. Sales distributor of industrial machinery products 25.21 ECI Metro Enterprises (Hong Kong) Co., Ltd. Sales distributor of industrial machinery products 25.21 P.38#40Appendix D Product Samples & Retail Outlet Formats#41Food Retail Products CP 00 ค็อกเทล BUCHER CLASSIC inf คลาสสิค CP Fresh Mart บะหมี่ เกี๊ยวกุ้ง CP Wnjurw Ivan wwwww UFARM 12 100 NATURAL U FARM 100% NATURAL E пр-к ajlution Life 15 CP Salochon yadacoas #8100 Selecion Miscdaonas CP เกี๊ยวกุ้ง จักรพรรดิ ถึงใหญ่ผิด CP PACIFIC CP PACIFIC rjudu osun. MOTU SHRIMP WONTON LICE พิค ต บ ตราซีพี กุ้งทิ้งตัว S imu BETA U..CA SHRIMP WONTON asounuta meiji HIGH PROTEIN 27 PROTEIN 40% Bulgaria WHEY แพ็คสุดคุ้ม บรรจุ 3 ของพรีม ซุป นํ้าหนักเสาร์ 400 กรัม SHAKE ปรารเชคเช่ 118 SEASING PINER asionTUOS meji Bulgaria 明治ブルガリアヨーグルト aslau% SHAKE ST 500 Orleans UTARY Bay Chicken Delight สเด็กแอมรมควัน ๕๕๕ - ๒ 47% adnaninluala: Delight อกไก่นุ่ม MEAT 6 โบโลน่าจากพิ FUR-ANN ALUM D 80 STO 3 Sander Oc cast 8 MEAT ZE 0 หมูกรอบจากพิช PLAY-ONE CHORY MEAT ZERO เบอร์เกอร์ไก่สไปซี่จากพืช PLANT-BASED SPICY CHICKEN BURGER จอสมาโย - MAyo shuts 18 C IVV โปรตีน ใยอาหาร FLAN-BASED SPICYCH DIET BUREER KANOSAUCE VENT ZERO SALUN บ้านกลาง We Walge 127 CP ชิคเก้นรับออลีน CHICKEN RIB ORLEANS CP BURGER ดับเบิ้ลหมูชีส KUROBITA 30 ข้อยกลา REZ P.40#42Food Retail Products CP X 醃漬去骨立 湖風味雞腿排 Marinade Boneless Chicken Logisankt TASTE INC. APPROVED 100% CHARGRILLED CHICKEN FILLET ORIGINAL READY TO EAT EAL FOOD TASTE INC. APPROVED 100% CHARGRILLED CHICKEN FILLET SPICY READY TO EAT 210g|冷凍保存 •編號電話47% 純釀造醬油酸清 PV RE P[V]RE CRAB IT SHRIMP fleak burger CHICKEN SWEET 59OUR MOODLES CHICKEN حور 圈圈雞 能肉起司商 Cat Com Chansa, Bogs Original Chicken Pop Corn Popesin Apar CP 無骨香脆 鹽酥雞 常冷凍 Indian-Cube Ovo Mana #RI-CUBE GREEN CUBE THE BASIL SAUCE WITH NOODLES GREEN CUBE SAVERYT YAKISUBA WITH VEGENBLES AD Authentic Asi WLING STVIK AROMATIC CRISPY DUCK PANCAKE KIT GOURMET CHIP CHIP Onega Collagen Protein Consi Sprey CHIP CHIP Omega Colagen Prossin Carai Spicy CP GOURMET พาล ผิดทีมาเล็ก - O ステーキパスタのキーマオ 700 MINI FRIED CHICKEN 00000 ソース チキン PEPPER KLCKE tehen Jay RED CURRY VEG IT UP! SAVOURY YAKISOBA WITH DETA SPRING ROLLS 10 HD FREE VEG IT UP! THAI BASIL SAUCE CP 914 FREE 300g 300g CP Authentic Asia Thai Massaman Curry Chicken Authentic Asia with Jasmine Rice Autentic Air Thai Red Curry Chicken with Jasmine Rice Whole Cooked Shrimp Crevelles entières cules CE CP ninans 220 NET WEIGHT C PUT DONER k CP 猪肉白菜蒸饺 26 31/40 400 14.7ed 台式卤肉包 P.41#43Food Retail Products Michelina's Macaroni & Cheese BOSTON Home Style Meals MARKET -Fried- CHICKEN BOWL WITH Loaded Mashed POTATOES GOLDEN-FRIED ALL-WHITE MEAT CHICKEN WITH GREEN BEANS CORN, AND LOADED MASHED POTATOES & GRAVY New! Michelina's 20g PROTEIN NET WT 11 (317)-ELP FREN-Y Bellisio FOODS the beautiful foods company SuperDrob Kurcza sielska voladka z nogi kurczaka NADZIEWANA SUSZONA SLIWEA 1 CWINIETA BECZKIEM WED Z KURCZAKA Z CHOWU BEZ ANTYBIOTYKOW Masa netto 500 g e SuperDrob „MINTERNATIONAL BLAALIES PORCA Crescent, FINE FOODS chicken mini kievs NO Crescent kids resist SuperDrob Mus Crat Sueske SNACK ROLLS BUFFALO-STYLE CHICKEN WHITE CHICKEN SY SEA GOLDEN GR EatingWell CHICKEN & FINGERLING POTATOES Roasted white meat chicken with fingerling potatoes & vegetables in a whole grain mustard sauce Kasparagus 199 protein ON made th ALL HATURAL Overhill Farms Certified GF Gluten Free KEEP FROVEN COOK THOROUGHLY ET422 Fresh Seal NET WT 10 03 12883 KEEP FROZEN COOK THOROUGHING sielska tuzka z kurczaka NOWOŚĆ SuperDrob OPAROWANIE 100% RECYLING FAST GOOD Thai Red Curry and Rice 1259 Panierowane skrzydełka z kurczaka pikantne codem cweet chill Crescent CHICKEN SAUSAGES NO COLOURS FLAVOURS 1 cup (vegetables) NOWOSC SuperDrob FAST GOOD Skrzydełka pieczone Hot&Spicy Crescent 700 ge Chicken Nuggets P.42#44HiPark Food Service: Five Stars Chain HIPörk B 84 Hi Pörk Towośn ภาษา มิทธิ ทา ทา ใหญ่ โทรสั่งอาหาร 083-8232410 หรือสั่งน่าน เท่านั้น wh App Delivery GrobFood ห้าดาว FIVE S ห้าง Innoa อร่อย! เปิดแล้ว!! ไก่ทอดค้าง SOU 358 FIVE STAR For Everyone, everywhere 115 ห้าดาว สนใจ คุณธนูกิจ Ins.086-421-8478 Vietnam SAVE TAR HOTLINE: 18006 India Cambodia FIVE STAR More Than 16 RYON 6,000 Laos ECP CP FIVE STAR FIVESTAR ga Outlets FIVE SOLO Philippines CHICKEN STAR The Best Chicken for Everyone p199 D35 P.43#45เชสเตอร์ ให ไก่ย่าง ออริจน์ค 199 CHESTER'S DELIVERY ETTE Food Service : Chester's CHESTER'S C 1145 Pebber 69 unt Chester's CHESTERS Chester's A 0 KITC CHESTER CHESTERS 444 CHESTERS โปรโมชั่น เมนูเดี่ยว เมนูทานเล่น เครื่องดื่ม แหล่งปลูกใบกัญชา : บท ทยาลัยแม่โจ้ จังหวัดเชียงใหม่ ข้าวไก่เผ็ดกัญชา และซอสกัญ 129 บาก ไก่กับ hester' อร่อยนัว ลองเลย!! LIMITED E(AT)DITION เข้าสู่ระบบ ตั้งแต่วันที่ 18 มี.ค. 65-30 เม.ย. 6 ไก่เผ็ดกัญชา และซอสกัญ ชั้นละ 59 ไก่เผ็ดกัญชาและซอสกัญ บาท 2ชิ้น 99 บาท 4ชั้น 179 บา P.44#46Disclaimer PUT OUR HE RT CPF 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, 15th 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