#1Betagro PCL Analyst Meeting FY2022 March 1, 2023 BETAGRO#2Agenda 2 1. FY2022 Company Highlights 2. FY2022 Financial Summary 3. FY2023 Business Plan & Strategy BETAGRO#31. FY2022 Company Highlights BETAGRO#44 0 Key Price Trends Update Baht/kg 24 20 20 16 12 4 8 1Q19 Raw Materials Soybean Meal Corn Cassava 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 Source: Thai Feed Mill Association (TFMA) Chicken, Day Old Chick & Egg Baht/kg (Chicken) Baht/kg Baht/head (Day Old Chick) Baht/piece (Egg) 110 48 24 23.4 Chicken Day Old Chick Egg (Right Axis) 40 32 12.6 24 9.0 16 00 8 0 1Q19 2Q19 3Q19 στον 1Q20 20 100 37.5 16 90 12 80 19.5 8 70 3.5 4 60 60 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 0 50 Pig (Fattener) BETAGRO 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 3020 4Q20 4020 1021 1Q21 2021 1707 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 99.1#55 Volume Growth and Capacity Expansion in 2022 Volume Growth Feed ('000 Tons/year) YoY: 0.5% 3,710 3,730 Agro Business 2021 2022 Swine Slaughterhouse Chicken Slaughterhouse (MM Pigs) (MM Chickens) (Tons) Food & Protein Business YoY: 0.8% YoY: 12.3% YoY: 16.7% 2.29 191 2.31 215 116 99 International Business Pet Business Capacity Expansion BETAGRO In May 2022, we completed the construction of a feed mill with production capacity of 0.6MM tons/year in Nakhon Ratchasima province. This increased our capacity by 18% from 3.4mm tons/year to 4.0mm tons/year Processed Food & Meat In June 2022, we completed the construction of New Swine Slaughterhouse in Lamphun with capacity of 0.2MM pigs/year. This increased our capacity by 10% from 2.5MM pigs/year to 2.8MM pigs/year 2021 2022 2021 2022 2021 Feed ('000 Tons/year) YoY: 11.7% 178 199 2021 2022 Pet Business ('000 Tons/year) 2022 ✓ In January 2022, we completed a fattening swine farm expansion with a production capacity of 24,000 pigs/year in Cambodia In July 2022, we completed the construction of a feed mill with production capacity of 72,000 tons/year in Phnom Penh. This increased our capacity in Cambodia by 33% from 216,000 tons/year to 288,000 tons/year ✓ YoY: 13.6% 50 44 2021 2022 We focus on high value-added pet products and increase our presence in international markets in order to raise sales contribution of our pet business#6TRIS Rating upgraded BTG in 2022 to "A" with "stable" outlook BETAGRO TRIS Rating Report on December 15, 2022 TRIS RATING AStrategie Partner of BETAGRO PLC CORPORATES Company Rating: A Issue Ratings: Senior unsecured Outlook: A Stable Last Review Date: 16/12/21 Company Rating History: Date 03/01/19 08/09/11 A Rating Outlook/Alert A- Stable Stable BTG's Debentures ข่าวเครดิต CreditNews Betagro PLC (BTG) Company Rating: Issue Ratings: A RATIONALE No. 228/2022 15 December 2022 TRIS Rating upgrades the company rating on Betagro PLC (BTG) and the ratings on its senior unsecured debenture to "A" from "A-" with a "stable" outlook. The upgrade reflects BTG's strengthened capital structure, following its initial public offering (IPO) and listing on the Stock Exchange of Thailand (SET), together with its sound operating performance on the back of a substantial increase in livestock prices. We view the momentum of high meat prices to continue in 2023 before gradually softening in 2024. The "stable" outlook reflects our view of the company's ability to maintain its business position and its financial profile as measured by the ratio of debt to earnings before interest, taxes, depreciation, and amortization (EBITDA) below 4 times on a sustained basis. The ratings are underpinned by BTG's leading position in the Thai agribusiness and food industries. The ratings also factor in several industry risk factors, such as the cyclicality of commodity-type products, volatile raw material prices, animal disease outbreaks, and trade barriers. However, BTG's vertically integrated product lines, and its strategy to focus on value-added and branded products alleviate these concerns to some extent. BTG233A: THB2,000 million senior unsecured debentures due 2023 BTG238A: THB800 million senior unsecured debentures due 2023 BTG247A: THB1,000 million senior unsecured debentures due 2024 BTG248A: THB1,000 million senior unsecured debentures due 2024 BTG258A: THB2,200 million senior unsecured debentures due 2025 Rating Outlook: A A A A A Stable 6 Source: TRIS Rating Report No. 228/2022 (December 15, 2022)#72. FY2022 Financial Summary BETAGRO#88 Overall Performance in 2022 Revenue(1) (THBmm) 120,000 100,000 80,000 60,000 40,000 Y-o-Y: 29.2% 20,000 23,098 (1) Y-o-Y: 31.8% 85,424 Gross Profit (THBmm) 112,626 24,000 20,000 16,000 12,000 8,000 29,850 4Q21 4Q22 2021 2022 Revenue = Revenue from Sales of Goods and Rendering of Services 11.2% 18.3% Y-o-Y: 111.4% 4,000 2,581 4Q21 Gross Profit Margin I I I 5,457 I 4Q22 | I I I I 13.1% BETAGRO +620 bps Y-0-Y: 94.7% 11,164 19.3% 21,731 2021 2022#9Overall Performance in 2022 (Cont.) Selling & Administrative Expenses (% SG&A to Sales) Adj. EBITDA (1) (THBmm) 15% 12% 11.1% I 10.8% I 9% 6% T I 12.8% 15,000 +690bps 5.4% 11.3% 5.1% 12.0% 12,000 I 11.2% I I I I 7.2% 6.9% I 6.6% 6.4% I 3.9% 3% 0% 4Q21 9 (1) 4.7% 4Q22 I I I I I 5.6% I Net Profit (THBmm) Y-O-Y: 214.1% 10,000 13,555 8,000 I 9,000 6,000 I 6,000 I I I I I 4.6% 3,000 Y-O-Y: 170.1% 3,373 I 1,249 I 2021 2022 4Q21 SG&A to Sales Selling Expenses to Sales Administrative Expenses to Sales 4,315 4,000 BETAGRO +580bps 3.9% 6.0% 1.2% 7.0% Y-o-Y: 98.8% 2,000 1,796 903 I I Y-O-Y: 685.5% 7,938 1,011 4Q22 2021 2022 4Q21 4Q22 2021 2022 Adj. EBITDA Margin Net Profit Margin Adjusted EBITDA = Sum of Segment Operating Profit Before Depreciation and Amortization of all reportable segments#101 Agro Segment - Financial Summary 10 ཌསེ (1) Feed ('000 Tons/year) 5,000 Animal Health (Tons/year) YoY: (1.7%) 22,198 YoY: 0.5% 30,000 4,000 3,710 3,730 25,000 22,581 22,004 3,385 20,351 3,172 20,000 3,000 15,000 2,000 10,000 1,000 5,000 0 2019 2020 2021 0 2022 2019 2020 Revenue (1) (THBmm) Gross Profit Adj. EBITDA (2) 2021 2022 (THBmm) (THBmm) 14.0% 14.8% 13.8% 11.2% 3.6% 4.7% 5.4% 3.1% 1,337 YoY: (33.5%) 35,000 YoY: 14.6% 5,000 28,403 YoY: (6.7%) 1,600 30,000 1,021 24,795 4,000 3,422 25,000 3,843 3,226 1,200 3,192 21,794 977 1,023 19,814 1,007 3,942 3,000 2,774 20,000 956 3,578 3,855 800 704 15,000 2,000 23,540 10,000 19,876 15,281 16,933 400 1,000 5,000 0 0 0 2019 ■Feed 2020 Animal Health 2021 2022 2019 2020 Others 2021 Gross Profit Margin 2022 2019 2020 Revenue = Revenue from Sales of Goods and Rendering of Services (2) Adjusted EBITDA = Operating Profit Before Depreciation and Amortization. Calculated as segment operating profit (loss) adding back depreciation and amortization 889 2021 2022 Adj. EBITDA Margin BETAGRO#112 Food & Protein Segment - Financial Summary Revenue(1) (THBmm) Gross Profit (THBmm) 80,000 70,000 Adj. EBITDA (2) (THBmm) 14.0% 17.2% 12.9% 23.2% 20,000 14,000 75,758 YOY: 39.9% 14,227 16,000 60,000 6,618 53,418 54,171 50,638 50,000 8,608 9,281 9,802 12,000 8,784 40,000 5,605 4,989 6,430 5,175 4,943 5,480 30,000 8,000 33,914 24,185 25,954 20,000 21,112 4,000 7,089 9,188 YoY: 151.4% 12,000 17,570 10,000 8,000 6,000 5.8% 9.2% 4.1% 15.6% YoY: 466.7% 11,787 1,862 1,140 1,200 4,923 5,047 611 4,000 633 2,934 321 6,988 22 2,239 603 83 2,000 2,651 2,097 1,909 2,538 435 707 0 (36) 563 (255) (249) 10,000 12,391 8,832 9,172 8,483 0 0 2019 2020 2021 2022 2019 2020 2021 2022 Export Business | Consumer Food Non-package Meat Product Livestock Business Gross Profit Margin (2,000) =1 11 སྱེསེ (1) Revenue = Revenue from Sales of Goods and Rendering of Services (2) Adjusted EBITDA = Operating Profit Before Depreciation and Amortization. Calculated as segment operating profit (loss) adding back depreciation and amortization 2019 2020 2021 2022 Co & By-Products & Other Food Business Adj. EBITDA Margin BETAGRO#123 International Segment - Financial Overview Revenue(1) (THBmm) Gross Profit (THBmm) Adj. EBITDA (2) (THBmm) 8,000 6,000 YoY: 27.8% 6,236 41 4,000 3,636 2 2,000 2,717 22 538 745 4,881 4 1,555 800 13.0% 15.6% 10.8% 7.1% (3) 800 11.3% 14.5% 9.4% 8.3% (4) 600 567 YoY: (16.3%) 600 527 527 1,100 400 353 4,640 200 3,777 2,889 2,157 0 0 2019 2020 2021 2022 2019 2020 Cambodia ■Laos Others 441 400 200 308 457 YoY: 13.7% 519 0 2021 2022 2019 2020 2021 2022 Gross Profit Margin Adj. EBITDA Margin (1) Revenue = Revenue from Sales of Goods and Rendering of Services 12 (2) (3) Adjusted EBITDA = Operating Profit Before Depreciation and Amortization. Calculated as segment operating profit (loss) adding back depreciation and amortization Gross profit margin in 2022 was impacted by higher depreciation & amortization from right of use compared to previous periods (4) Adjusted EBITDA Margin for 2022 was higher than Gross Profit in the same period due to increases in fair value of biological assets in conjunction with (3) BETAGRO#134 Pet Segment - Financial Summary Pet Business ('000 Tons/year) 60 50 40 30 20 22° 10 Revenue (1) (THBmm) YoY: 13.1% 50 44 38 31 31 2019 2020 2021 2022 Gross Profit (THBmm) Adj. EBITDA (2) (THBmm) 14.4% 23.1% 23.7% 25.4% 3.7% 12.7% 15.0% 15.9% 500 561 YOY: 58.7% 3,000 2,500 YoY: 48.3% 600 2,211 2,000 1,491 1,500 1,150 908 1,000 400 400 353 300 266 200 131 200 147 YoY: 57.3% 351 223 500 100 34 0 0 0 2019 2020 2021 2022 2019 2020 2021 2022 2019 2020 2021 2022 Gross Profit Margin Revenue = Revenue from Sales of Goods and Rendering of Services. (2) Adjusted EBITDA = Operating Profit Before Depreciation and Amortization. Calculated as segment operating profit (loss) adding back depreciation and amortization. 13 22 (1) Adj. EBITDA Margin BETAGRO#14Consolidated Overview - Financial Position & Leverage Interest Bearing Debt Breakdown (1) (THBmm) 14 Lease Liabilities 18.7% Debentures 29.6% THB23.7bn 51.7% Interest-Bearing Debt to Equity Ratio (2) (THBmm) 3.0x 2.0x Bank Overdrafts 1.5x & Short Term 1.3x Loans 1.0x 0.0x 2019 2020 2.0x 2021 Interest-Bearing Debt to Adj. EBITDA Ratio (3) 8.0x 5.9x 6.0x 4.0x 2.0x 3.3x 7.1x BETAGRO 0.8x 2022 1.8x 0.0x 2019 2020 2021 2022 123 (1) As of December 31, 2022 (2) Interest-bearing debt to equity ratio is calculated as interest-bearing debt divided by total equity (3) Interest-bearing debt to Adj. EBITDA of all business segments. Adjusted EBITDA = Operating Profit Before Depreciation and Amortization. Calculated as segment operating profit (loss) adding back depreciation and amortization#15Capital Expenditure Plan Planned Capital Expenditure (THBmm) 7,000 BETAGRO Breakdown of Cumulative Planned Capex in 2023F-2025F 5,930 6,000 420 5,126 330 4,830 5,000 580 730 310 370 767 11.1% 4,000 2,963 669 3,000 22 102 3,540 2,980 1,754 2,000 1,744 8.3% 21.6% 6.9% THB15.9bn 1,000 1,356 1,095 1,170 910 0 2022 2023F 2024F 2025F Agro Food & Protein International Pet Others 15 52.1%#16BETAGRO BETAGRO BETAGRO KEN s Hygienic SH ทาโกร เมื่อก่อนามัย Black Pepper Chicken Steak Burger Enjoy BETAGRO Hygienic 3. FY2023 Business Plan & Strategy Chicken ishealth conscious Wios BETAGRO Pure And Pack S-Pure PORK UNCHEN VEISSWURST SAUSA & LEEK 100 ก ко 3#17FY2023 Business Plan & Strategy BTG's Target in FY2023 12 17 Kil Sales % Gross Profit Margin % SG&A to Sales CAPEX +5-10% YoY 15-17% 11-12% THB5.1 bn 4 Key Strategies in FY2023 BETAGRO 1 2 3 4 Capacity Product & Channel Expansion Mix Adjustment Product Premiumization International Expansion#181 Capacity Expansion Business Segment 18 Agro Business Capacity MM Tons/year +10.0% 0.0% 4.4 4.0 4.0 2022 2023F 2024F MM Pigs/year +16.1% +14.8% 3.6 3.1 2.7 2022 MM Chickens/year 2023F 2024F +7.7% 0.0% 197.0 183.0 183.0 Business Segment Tons/year 47.0 Pet Business Capacity 0.0% 47.0 +102.1% 95.0 2022 2023F 2024F '000 Tons/year ย 0.0% 288.0 288.0 2022 2023F MM Chickens/year 2022 2023F 2024F Food & Protein BN eggs/year Business +6.7% 0.0% International Business 2.0 1.6 1.6 1.5 2022 '000 Tons/year 食品® 2023F +13.2% 154.3 136.3 2024F +24.6% 192.3 2022 2023F 2024F +150.0% 5.0 +75.0% 504.0 2024F +20.0% 6.0 BETAGRO 2022 2023F 2024F MM Eggs/year 40.0 0.0% 40.0 +330.0% 172.0 2022 2023F 2024F#192 Product & Channel Mix Adjustment Strategy to shift towards more stable and higher margin products and channels 19 Portfolio of Product Mix % of Food & Protein Business Portfolio of Channel Mix % of Food & Protein Business BETAGRO 100% 51.0% 16% 16% 48.2% 18% 18% 17% 16% 16% 17% 47.9% 47.4% 46.3% 18% 19% Export 46.0% 43.4% 44.0% 43.2% 8% 9% 45.0% 42.3% 8% 75% 37.4% 39.3% 39.1% 5% 6% 41.7% 9% 6% 8% 11% 13% 11% 12% Modern 13% 13% 7% Trade 7% 6% 34.3% 41.5% 7% 33.3% 11% 7% 7% 33.0% 38.1% 13% Food Service 30.6% 13% 22% 24% 30.0% 24% 50% 17% 25% 26% 28% Own 18% 16% 31% Channel 12% 11% 1 I 13% 16% 14% 12% 15.0% 25% 10% Industrials 7.8% 7.5% 8.6% 8.3% 6.9% 7.7% 7.0% 5.6% 5.8% 5.0% 5.1% 9.5% 43% 7.0% 38% 36% 32% 29% 26% 26% 7.0% 0.0% 2016 2017 2018 7.0% 6.8% 6.5% 4.1% 3.6% 3.8% 3.5% 3.8% 2019 2020 24% 22% 20% 6.7% 6,8% Traditional Trade T 3.7% 2.9% 2021 2022 2.5% 2.5% 2.3% 2023F 2024F 2025F 0% T T 2016 2017 2018 2019 2020 2021 2022 2023F 2024F 2025F High Margin Channel Chicken Pork Egg PF & PM Other Source: BTG#203 Product Premiumization Strategy to shift towards premium and high value added products Firmly entrenched in the Premium Segment as it is the biggest contributing segment in the Agro Business revenue Agro Business Brands in the Food & Protein Business have performed strongly in the Premium and Standard Segments Food & Protein Business BETAGRO Brands within the Pet Business are steadily growing in the Premium and Standard Segments Premium & Standard: Premium & Standard: 83% in 2022 88% in 2022 Pet Business Premium & Standard: 34% in 2022 100% 100% 100% 85% 85% 80% 81% 83% 76% 80% 80% 80% 70% 69% 66% 58% 60% 51% 51% 52% 53% 60% 60% 48% 40% 29% 29% 30% 30% 32% 40% 40% 27% 25% 27% 28% 22% 17% 15% 20% 20% 13% 12% 10% 20% 24% 20% 20% 18% 17% 3% 4% 4% 10% 3% 5% 2% 6% 7% 3% 0% 0% T T T T 0% T T T 2019 2020 2021 2022 2025F 2019 2020 2021 2022 2025F 2019 2020 2021 2022 2025F Premium Premium Premium Standard Standard Standard Economy Economy Economy 20 20 Premium P-LAC W-1801 B Premium BETTER PHARMA b BE-LAC Standard Standard Balance FARM NEXGEN Economy Source: BTG MASTER Amina ITOHAM BETAGRO S⭑Pure 。 BETAGRO Premium Standard PREMIUM DOG G FOOD Perfecta Sen flock DOG njoy CAT nJoy Economy พีวัน Economy BINGO STAR#214 International Expansion Scaling up of Business Operations in CLM Cambodia Laos: Expansion of feed production capacity with the construction of a feed mill Invest in breeding swine farms, fattening swine farms, breeding poultry farm and slaughterhouses by 2026 Expansion of production capacity pigs and chicken through investments in broiler and swine slaughterhouses Investment plan to construct first feed mill with a production capacity of 72,000 tons per year by 2026 Planned investments in new breeding swine farms and broiler slaughterhouses to increase our production capacity International Distribution Increase Export Destinations 21 21 BETAGRO Myanmar Planned investments in breeding swine farms, poultry breeding farms, swine and broiler slaughterhouses by 2026, to fulfill the growing need for pork and chicken production Expand distribution presence in major international locations such as Singapore and Hong Kong ☐ Establish trade offices for our agro business and food and protein business Focus on expanding into new product categories, raising brand awareness of "S-Pure" and "Betagro" and forming new partnerships with local business partners to leverage their business expertise Increase exports destination from 20+ locations and increase pocket share in existing regions such as, the EU, Japan, Singapore, Hong Kong and the U.K., which we plan to achieve through the following initiatives: Increase brand awareness in foreign markets: Organize events/activities to continuously promote our brand and emphasize on marketing activities to increase brand awareness Increase sales through wholesale and distributor network: Form business partnerships and technical collaborations by leveraging our industry know-how and recruiting local talent with high potential#22Appendix BETAGRO#23Since our founding in 1967, Betagro Group has been driven by its purpose, belief and core values PURPOSE To help people and their communities achieve better quality of life through better quality, safer and fair priced foods CORE VALUES - PIPIQ Professional Innovation BELIEF People must have choice and access to better quality, safer and fair priced foods which are essential to human life, and it is the foundation of sustainable development We must collectively work harder to achieve our Purpose Phase I Laying Business Foundation 1967 etagro Incorporation of Betagro Co., Ltd. and first feed factory in Samut Prakan 23 Phase II Growth through Expansion 1972 / 1978 1990 Started farm business (1972), Started animal health product factory (1978) 2004 AA Integrity 2006 2011 People Centric Phase III Striving to Upgrade Food Industry 2017 2021 Quality 2022 Construction of Food Complex 1, our first food production base to increase production of poultry เบทาโกร ช้อป BETAGRO Shop Opened our first Betagro Shop, a wholesales shop for food products S⭑Pure ใช้ชีวิตที่เลือก Launched our pork products under S-Pure brand for premium market Launched "Betagro E-Traceability", allowing B2B customers to trace sources of our chicken products via Betagro's website Our first pet food factory began production; opened our first Hygienic Meat Shop KERRY meatly COOL Established Kerry Cool, a cold chain delivery platform JV with Kerry Express (Thailand) Launched plant-based ready to cook Meatly! brand#24Our Business Model Covers All Stages of the Food Value Chain Upstream Animal Health Feed & Tech GGP/GP/PS+ Fattener / Broiler Slaughterhouse ย 苔 Value Chain ■Livestock Feed ■ Aqua Feed Business Segments 24 224 تھی Midstream Animal ■ Swine Swine Slaughterhouse Health ■ Poultry ■ Poultry ■ Farm Equipment ■Lab Service ■Layer Fish Own farm/ Slaughterhouse ■Egg Grading / Packing House contract farm ■Fish Processing Factory Agro Business Livestock Business Non-Package Meat Products Business Co & By- Products and Other Food Business BETAGRO Downstream Processed / Food Distribution Channel KIX 000 NZ Cooked Product Plants ☐ Process Meat Factories Central Kitchen ■Assembly Kitchen Domestic ◉ Own Channel (Branches, Betagro Shops, Betagro Deli, Hygienic Meat Shops) ◉ Food Service ■Modern Trade ■Traditional Trade ■ Others Export Japan/EU/ HK/AEC / etc. Food & Protein Business Consumer Food Business Export Business Pet Business International Business#25Strong Focus on ESG 25 iii BETAGRO Environment & Circular Economy Solar power initiatives to replace traditional electricity usage Collaborates with World Animal Protection to improve welfare of breeding pigs and poultry Won SEC's "Active Participation Award" for reducing company's waste and trash level Society 164-IWU5 S⭑Pure ใช้ชีวิตที่เลือก S-Pure products provide safe, high-quality protein for customers and promote animal welfare XXX CSR-DIW AWARD Received the CSR-DIW award by Department of Industrial Works in 2020 Holistic Area Based Community Development (HAB) to elevate quality of life Governance BETAGRO Strong corporate governance demonstrated through various awards Highly professional management and board of directors COMPLIANCE Established corporate compliance policy to ensure full transparency#26Physical Footprint Extends Across 4 Countries in Southeast Asia with International Presence in 20+ Countries Globally through Export BETAGRO Thailand Animal Feed Broiler Egg 4.0 mm tons per year 207.8 mm birds per year 1.5 bn eggs per year 10 Feed Mills 8 Broiler Farms 16 Egg Grading Facilities Swine Processed Food & Processed Meat Pet Food GGP, GP, and PS Farm (1) Fattening Farm 93.2 k tons per year of processed food 47.0 Ktons per year 000 146.1 k pigs 2,635.8 k pigs 43.1 k tons per year of processed meat 1 Pet Factory per year 96 Betagro Branches 211 Betagro Shops 29 Betagro Delis 836 Hygienic Meat Shops 33,652 Employees 4 Research & Innovation Centers Cambodia Feed Mill (1) Grandparent and Parent Pig Farms (4) Fattening Farm (3) Layer Farm (1) Betagro Branches (4) 328 Contract Farms 26 As of December 31, 2022 (1) GGP stands for great grandparent; GP stands for grandparent and PS stands for parent Laos Grandparent and Parent Pig Farms (3) Chicken Slaughterhouse (1) Betagro Shops (5) 132 Contract Farms Myanmar Betagro Representative Office 20+ Export Destinations *. And more...#27Summary of Betagro Business Agro FY2022 Revenue (1): THB28.4bn FY2022 Adj. EBITDA (2): THBO.9bn 1 FY2022 Revenue(1) Pet 25% 4 FY2022 Revenue (1): THB2.2bn FY2022 Adj. EBITDA (2): THBO.4bn 2% 6% International 3 FY2022 Revenue (1): THB6.2bn FY2022 Adj. EBITDA (2): THB0.5bn THB112.6bn 1881 MI -ggs are Pore 2 67% S-Pure Food & Protein BETAGRO Hygienic BETAGRO Black Pepper Chicken Steak Burger chicken Ishealth conscious BETAGRO S-Pure UNCHEN VEISSWURS FY2022 Revenue (1): THB75.8bn ire JUMBO FY2022 Adj. EBITDA (2): THB11.8bn 27 (1) Revenue = Revenue from Sales of Goods and Rendering of Services (2) Adjusted EBITDA = Operating Profit Before Depreciation and Amortization. Calculated as segment operating profit (loss) adding back depreciation and amortization#281 Agro Segment - Business Overview Revenue (1) Adj. EBITDA (2) FY2021 THB24.8bn 29.0% of Total Revenue THB1.3bn FY2022 THB28.4bn 25.2% of Total Revenue THB0.9bn Revenue (1) by Business Segment Adj. EBITDA Margin: 5.4% Adj. EBITDA Margin: 3.1% Feed FY2022 Revenue (1) Others Animal Health 3.6% 13.5% THB28.4bn Others Distribution Channel 3.4% Industrial 5.7% 28 Agent 21.9% THB28.4bn BETAGRO ■Livestock and aquaculture feeds sold to third parties and used internally (~40%/60% split) ■As of 31 Dec 2022, we have 10 feed mills in Lamphun, Lopburi, Nakhon Pathom, Nakhon Ratchasima, Samut Prakan, Songkhla, Thailand Feed Mill Production Volume ('000 Tons/Year) YoY: 0.5% 3,710 3,730 3,172 3,385 PREMIUM etagro P-LAC พี-แลค BE-LAC STANDARD Balance FARM ECONOMY 2019 2020 2021 2022 อะมิน่า MASTER Amina มาสเตอร์— Health ■Produce: veterinary medicine, pre-mixes (vitamins and minerals), disinfectants and hygienics ■Distribute: animal vaccines and injection solutions ■ 1 manufacturing plant in Lopburi, Thailand B BETTER PHARMA 82.9% Feed Animal Others Farm 69.0% ■Farm Equipment: ventilation systems, feeding systems, watering systems ■Lab Services: laboratory lab testing services, focusing on food safety assurance and animal health monitoring control ■3 Betagro Science Center branches in Bangkok, Lopburi and Phatthalung, Thailand (1) Revenue = Revenue from Sales of Goods and Rendering of Services 22 (2) Adjusted EBITDA = Operating Profit Before Depreciation and Amortization. Calculated as segment operating profit (loss) adding back depreciation and amortization NEXGENⓇ#292 Food & Protein Segment - Business Overview Revenue (1) Adj. EBITDA (2) FY2021 THB54.2bn 63.4% of Total Revenue THB2.2bn FY2022 THB 75.8bn 67.3% of Total Revenue Segment THB11.8bn Consumer Food Adj. EBITDA Margin: 4.1% Adj. EBITDA Margin: 15.6% Revenue (1) by Business Segment Co & By- products and Other Food FY2022 Revenue (1) 18.8% Revenue (1) by Distribution Channel 29 29 44.8% Livestock 8.7% THB75.8bn Non-Package Meat Product 11.4% Consumer food Export 16.4% Export Industrial and Others Export 16.2% 16.4% Non-Package Meat Food Service Co & By- 6.9% Products THB75.8bn Traditional 26.0% Trade 11.1% Modern Trade 23.5% Own Distribution Channel Livestock Segment Highlights ■Pork meat, packaged fresh and frozen poultry meat, fish, eggs, processed food and processed meat ■Mostly "Betagro" and "S-Pure" brands and some OEM ■Focus on ready-to-eat and ready-to-cook products ■Premium grade pork, poultry, egg, processed food and processed meat ■ Key export markets: UK, EU, Japan, Singapore, Hong Kong, China ■ Own brands and OEM ■Fresh pork and poultry products sold in bulk (>2kg) ■ Animal parts and alternative proteins, i.e. organs, feathers and chicken heads ■Live chickens, pigs and fish that are not supplied to our other food business segments (1) ཊེསེ Revenue = Revenue from Sales of Goods and Rendering of Services (2) Adjusted EBITDA = Operating Profit Before Depreciation and Amortization. Calculated as segment operating profit (loss) adding back depreciation and amortization BETAGRO Product Pictures 8 Pure S-Pure healthy S-Pure S-Purs S-Pure CYCLED BETAGRO#302 Food & Protein Segment - Brand Portfolio Each brand holds its unique quality to capture each target segment Segment Brand Description Unique Selling Points Product Range Highlight Products ■ S-Pure: Raised without antibiotics chicken, pork & eggs from day one "Raised without Antibiotics certified Fresh Meat by NSF" ◉ PREMIUM S⭑Pure ■No Growth Promoter Processed Meat ■Processed Food S-Pure ใช้ชีวิตที่เลือก STANDARD BETAGRO ใส่ใจเพื่อชีวิตที่ดี 30 ■No Beta Agonist ■Animal Welfare RAISED WITHOUT BQM 24/7 Antibiotics DEFENSE ■Betagro: Farm-fresh eggs, hygienic chicken & pork, sausages, a variety of processed foods as well as RTC and RTE items and soup "Hygienic and Safety Quality Standard" International Standard ■Product Variety ■Animal Welfare BQM 24/7 NAMENT ■Fresh Meat ■ Processed Meat ■Processed Food ECONOMY PREMIUM พี.วัน ITOHAM BETAGRO ■Kra-tak: Fresh and processed meat products targeted at economy segment ■B-Foods, B-One: Processed meat products targeted at economy segment Itoham (Joint Venture Brand) ■Made from premium- grade meat "Safety Quality Product with Affordable Price" ■ Attractive price points targeted at economy segment ■ Premium grade meat ■JV with ITOHAM Japan ■Safety & Hygienic Standard BOM 24/7 NARAGEMENT Fresh Chicken Meat ■ Processed Meat ■ Japanese premium sausages BQM 24/7 BOLLED BOG BETAGRO S-Pure S-Pure บี-วัน สด สะอาด ปลอดภัย บราล ค่า www ตั้มค่า グルメセインナー ハイミルン PORK-#312 Food & Protein Segment - Distribution Channels Value / Profit Margin Opportunity 31 Diversified business resultant of presence across all markets segments, with particular focus in high-value segments Focus on higher-value segments (74.0% of FY22 total revenue(¹)) Traditional Trade Industrials and Others Aj, AJINOMOTO. SUNTORY Modern Trade Food Service Own Channel Courmet market MINOR BETAGRO Deli INTERNATIONAL pizza Hut VL VILLA MARKET WORLD OF FOODS SUPERMARKET Tops market Export $ *** BETAGRO Key Highlights: Presence across all market segments Particular focus in the up-market segments: own channel, food service, modern trade, export Opportunity to move customers "up the value staircase" and capture additional growth in attractive OISHI tiers Big MK CENTRAL Lotus RESTAURANTS Group (1) Revenue = Revenue from Sales of Goods and Rendering of Services. Own channel, food service, modern trade, industrial and others and export channels contribute 74.0% of total revenue as of FY22#323 International Segment - Business Overview Revenue (1) Adj. EBITDA (2) FY2021 THB4.9bn 5.7% of Total Revenue THBO.5bn Adj. EBITDA Margin: 9.4% FY2022 THB6.2bn 5.5% of Total Revenue THBO.5bn Adj. EBITDA Margin: 8.3% FY2022 Revenue(1) Myanmar(3) Revenue (1) by Business Segment Highlights Laos 0.7% 24.9% THB6.2bn 74.4% Cambodia 1 Feed mill (Capacity = 252k tons per year) Swine breeder farms (Capacity = 14.6k pigs per year) 1 Layer farm (Capacity = 24.3mm eggs per year 1 Broiler slaughterhouse (Capacity = 1.5mm chickens per year) 32 (1) Revenue = Revenue from Sales of Goods and Rendering of Services (2) (3) Adjusted EBITDA = Operating Profit Before Depreciation and Amortization. Calculated as segment operating profit (loss) adding back depreciation and amortization Revenue from Myanmar as a Percentage of International Business Revenue = 100% - Percentage of Revenue from Cambodia - Percentage of Revenue from Laos BETAGRO Cambodia Feed mill (1) Grandparent and parent pig farms (4) Fattening Farm (3) Layer farm (1) Betagro Branches (5) Laos 328 Contract Farms Grandparent and parent pig farms (3) Chicken slaughterhouse (1) Betagro Shops (5) Myanmar 132 Contract Farms Betagro Representative Office As of December 31, 2022#334 Pet Segment - Business Overview Revenue (1) Adj. EBITDA (2) Highlights FY2021 THB1.5bn 1.7% of Total Revenue THB223mm FY2022 THB2.2bn 2.0% of Total Revenue THB351mm Adj. EBITDA Margin: 15.0% Adj. EBITDA Margin: 15.9% 1 Pet food and snacks factory as of December 31, 2022 (Capacity 47k tons per year) = Hold Various Domestic and International Certifications GOD MANU GOOD GOOD WING PRACTICE PRACTICE GMP CERTIFIED MANUFACT NMENTAL ENVIRONMEN MANAGEMENT NT SYSTEM ISO 14001 Hazard Analysis HACCP Critical Our Brands Portfolio Segment Brand PREMIUM PREMIUM PET FOOD Perfecta Product Dry food for dogs and cats BETAGRO Countries Sold Thailand Son Buocu STANDARD DOG njoy Dry food, wet food and snacks for dogs Thailand STANDARD acc CAT nJoy Dry food, wet food and snacks for cats Thailand TTM ECONOMY BINGO STAR Dry food and snacks for dogs and cats Thailand ISO 9001 Certified Sold in Thailand, and exported internationally primarily to Philippines, Indonesia, Malaysia, Japan and India 33 33 སྱེསེ (1) Revenue = Revenue from Sales of Goods and Rendering of Services (2) Adjusted EBITDA = Operating Profit Before Depreciation and Amortization. Calculated as segment operating profit (loss) adding back depreciation and amortization#34IR Contact Investor Relations Department Tel: +662-146-1666 Email: [email protected] Mr. Vorapoj Hongpinyo - Head of Investor Relations Tel: +666-5504-6633 Email: [email protected] Ms. Pucharaporn Promputta - Senior Investor Relations Officer 34 Tel: +662-2243-4909 Email: [email protected] BETAGRO