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Chips RESERVE WHISKY مسانی masafi ي SEA SALT CHIPS Masala PRECLOSED FRESH-SEAL PACK الرفاعي Hoops Potato RIFAI DAIRY MILK Eclairs 0 ALGHAZALEEN TEA MOHD DOD Rural King PURINA DOG CHOW Healthy Life Nu Complete & Balanci B PACK FORMAT CLUB OWO amily's Salt & Vinegar Sel et Vinaigre ARIEL ARIEL ASSAL Vide BTES CRISP SELECTION SAVOURY No names milk chocolate covend raisins raisins secs OTUO TEA Miracle Gro Potting Mix Pants up to 3 MONTHS Ferret Feast 2.5kg Ferret Feas кофе в новой упаковке MOCK DE SPORNT PACT HOO МИКОФЕ Kode Московский Pril Tehar Namkeen Great Value Gourmet Gourmet Lites Aloo Bhuj 25% PISTACHIOS LINGARFIEL Holiday Caramels des fêtes Biskwi Chocolaty Chip Brisures chocolatées Teddy Bear Cookies HADIL TIGER WILD BIRD SEED S Bongo HIPPO Life Pampers. safe-gua 1.5% Dewormer Nedicated ADM Aliance Nutrition sealable Zipper Bag/fac à fermeture a glisses TATA TEA life Dairy Solutions POWERSURGE concentrate ADDINOL POPCORN AUSSIE STYLE LICORICE REGLISSE Barker Charis ANODERM EveryDay CERELAC כעכושר Royal Wing NESCAFE Milk Chocolate Jisher PREMIUM MIX WILD BIRD FOOD tek be most desados the perfect helve Mild Safoner S Sped Savlover d O Saw and Sun ΑΙΟΛΙ IVORY VORT IVORY PEANUTS VORY GEMS CRICKET PROGRAM PACK Lay's Chilli Chinese Investor Presentation April 2022#2Disclaimer NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED IN REGULATIONS UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT")), EXCEPT TO "QUALIFIED INSTITUTIONAL BUYERS" (AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT), INDIA OR IN ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW. This presentation and the accompanying slides (the “presentation") contain selected information about the activities of UFlex Limited (the "Company") and its subsidiaries and affiliates (together, the "Group") as at the date of the presentation. It does not purport to present a comprehensive overview of the Group or contain all the information necessary to evaluate an investment in the Company. This presentation is for information purposes only and is not a prospectus, disclosure document or other offering document under any law, nor does it form part of, and should not be construed as, any present or future invitation, recommendation or offer to purchase or sell securities of the Group or an inducement to enter into investment activity in any jurisdiction. No part of this presentation nor the fact of its distribution should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. If there is any subsequent offering of any security of the Company, it will be made pursuant to a separate and distinct offering documentation. Any decision to purchase securities in the context of an offering of securities (if any) should be made solely on the basis of information contained in the offering documentation published in relation to such offering. This presentation is being communicated to selected persons who have professional experience in matters relating to investments for information purposes only and does not constitute a recommendation regarding any securities of the Group. Other persons should not rely or act upon this presentation or any of its contents. The contents of this presentation are strictly confidential. By viewing or accessing the presentation, you acknowledge and agree that (i) the information contained herein is strictly confidential and (ii) the information is intended for the recipient only and, except with the prior written consent of the Company and Barclays Bank PLC (the "Financial Adviser"), (a) the information shall not be disclosed, reproduced or distributed in any way to anyone else and (b) no part of these materials may be retained and taken away following this presentation and the participants must return this presentation and all other materials provided in connection herewith to the Company at the completion of the presentation. The distribution of this presentation in certain jurisdictions may be restricted by law and recipients should inform themselves about and observe any such restrictions. In particular, this presentation may not be transmitted or distributed, directly or indirectly, in or into the United States. This presentation does not constitute or form part of any offer to purchase, a solicitation of an offer to purchase, an offer to sell or an invitation or solicitation of an offer to sell, issue or subscribe for, securities in or into the United States, India or in any other jurisdiction. The securities have not been offered or sold and will not be offered or sold in India in circumstances which would constitute an offer of securities (whether to the public or by way of private placement) within the meaning of the Indian Companies Act, 2013 as amended, or any other applicable Indian securities laws for the time being in force. This presentation does not constitute an offer to sell, offer to purchase, or a solicitation to sell or a solicitation to purchase or subscribe for securities (whether to the public or by way of private placement) within the meaning of the Indian Companies Act, 2013 as amended from time to time, including any rules made thereunder, as amended from time to time, ("Indian Companies Act"), the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended from time to time, or other applicable securities laws, regulations and guidelines of India This presentation is not an offer document or a prospectus or a private placement offer letter or an offering circular under the Indian Companies Act. This presentation has not been and will not be registered or produced or made available as an offer document whether as a prospectus in respect of a public offer or an information memorandum or private placement offer letter or other offering material in respect of a private placement under the Indian Companies Act or any other applicable Indian laws, with the Register of Companies, the Securities and Exchange Board of India or any other statutory or regulatory body of like nature in India. This presentation or any other document or material relating to any securities will not be circulated or distributed and have not been circulated or distributed, directly or indirectly, to any person or the public or any member of the public in India or otherwise generally distributed or circulated in India which would constitute an advertisement, invitation, offer, sale or solicitation of an offer to subscribe for or purchase any securities in violation of any Indian laws. 1 UFLEX 'A part of your daily life'#3Disclaimer The information contained in, and the statements made in, this presentation should be considered in the context of the circumstances prevailing at the time. There is no obligation to update, modify or amend such information or statements or to otherwise notify any recipient if any information or statement set forth herein, changes or subsequently becomes inaccurate or outdated. The information contained in this document is provided as at the date of this document and is subject to change without notice. Any investor that intends to deal in any existing or prospective securities of the Company is required to make its own independent investigation and appraisal of the business and financial condition of the Group and the nature of the securities at the time of such dealing. No one has been authorized to give any information or to make any representations other than those contained in this presentation, and if given or made, such information or representations must not be relied upon as having been authorized by the Company, the Financial Adviser or their respective affiliates. The information in this presentation does not constitute financial advice (nor investment, tax, accounting or legal advice) and does not take into account an investor's individual investment objectives, including the merits and risks involved in an investment in the Company or its securities, or an investor's financial situation, tax position or particular needs. This presentation includes figures relating to EBITDA. EBITDA is not a standard measure under Ind AS, but is a widely used financial indicator of a company's ability to service and incur debt. EBITDA should not be considered in isolation or construed as an alternative to cash flows, net income or any other measure of performance or as an indicator of the Group's operating performance, liquidity, profitability or cash flows generated by operating, investing or financing activities. In evaluating EBITDA, investors should consider, among other things, the components of EBITDA such as total revenue and operating cost and the amount by which EBITDA exceeds capital expenditures and other charges. EBITDA has been included because it is believed that it is a useful supplement to cash flow data as a measure of the Group's performance and its ability to generate cash flow from operations to cover debt service and taxes. EBITDA presented herein may not be comparable to similarly titled measures presented by other companies. Investors should not compare the Group's EBITDA to EBITDA presented by other companies because not all companies use the same definition. Past performance information in this presentation should not be relied upon as an indication of (and is not an indicator of) future performance. This presentation contains "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of any member of the Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Similarly, statements about market and industry trends are based on interpretations of current market conditions which are also subject to change. Attendees are cautioned not to place undue reliance on forward looking statements. No representation, warranty or assurance (express or implied) is given that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur. This presentation contains data sourced from and the views of independent third parties. In replicating such data in this document, none of the Company and the Financial Adviser makes any representation, whether express or implied, as to the accuracy of such data. The replication of any third party views in this document should not necessarily be treated as an indication that the Company or the Financial Adviser agrees with or concurs with such views. By participating in this presentation, attendees agree to be bound by the foregoing limitations. UFLEX 'A part of your daily life' 2#4Key Representatives of UFlex 4 EX VEX FLEX A par ily life' 'Ap life' 'A y life' 4 Anantshree Chaturvedi Vice Chairman and CEO, FlexFilms Int'l Apoorvshree Chaturvedi Director, EU Operations & Sustainability A p 4 EX aily life' Rajesh Bhatia Group President (Finance & Accounts) and CFO Ashwani K. Sharma, President & CEO, Aseptic Packaging Business Jeevaraj Pillai Joint President, Flexible Packaging and New Product Development 3 UFLEX 'A part of your daily life'#5UFLEX 'A part of your daily life' Company Overview#6UFlex Limited ("UFlex”) – Company Overview Company Overview A Material Sciences, Sustainable Packaging Solutions Company built on the vision of 'circularity' Key Highlights Founded in 1988 by Mr. Ashok Chaturvedi, a first generation entrepreneur Key Financials (1) Particulars ($m) FY19 FY20 FY21 9MFY22 Operating Revenue EBITDA 1,083 1,007 1,210 1,245 135 147 245 205 • Uflex has a well-diversified business model across packaging films, flexible packaging and aseptic liquid packaging EBITDA Margin 12.4% 14.6% 20.3% 16.5% PAT 43 50 115 101 Total Assets 1,083 1,361 1,609 1,838 Debt 286 493 550 581 UFlex has State-of-the-Art manufacturing infrastructure, 16 facilities in 9 countries Cash 39 60 90 96 Debt/EBITDA 2.13x 3.35x 2.24x 2.12x(3) Net Debt/EBITDA 1.84x 2.94x 1.88x 1.77x(3) Geographical diversification with international markets contributing >50% of revenue One of the market leaders in flexible packaging industry with strong global presence and diversified clientele Revenue Split (FY 2021) Domestic 47% International • Strong global footprint (150+ countries) with marquee clientele Business 53% Flexible and Aseptic packaging 40% Packaging film s 60% 1. USD INR 73.5047 for FY21, FY20 and FY19 and INR 74.3025 for 9MFY22 2. Debt Long Term Borrowings + Short Term Borrowings + Current Maturity of Long Term Debt + Current and Non Current Lease Liabilities since FY20 Debt/EBITDA and Net Debt/EBITDA have been calculated basis LTM numbers (Q4 FY21+9MFY22) 3. UFLEX 'A part of your daily life' 4#7Business Evolution and Key Milestones $ Engineering Business 1988 Ashok Chaturvedi started engineering business UFlex went Public 1989 Chemicals Business 1994-1996 Company went Public (IPO) Added Films line-1st BOPP Films line in Noida Added Chemical business 19.49 GOING Snack PUBLIC CHOCOLATE 055 MLP* Technology 2020-2021 Aseptic Packaging 2017-2018 New business expansion in the future... Target Films Installed Capacity of one Million TPA Added Film capacity in Russia, Poland, Egypt, Hungary & Nigeria Upcycle plastic waste to make Green Packaging Films Added Aseptic Packaging in Sanand, Gujarat Commissioned Pyrolysis Plant to convert plastic waste into fuel ASEPTO From the house of UPLEX Holography Business 2004-2005 International Expansion 2009-2010 Added Film Capacity in Dubai Added into Holography business • Added BOPP Film line in Egypt Added PET Film Capacity in Mexico KY Almond Milk GEMS Capacity expansion in USA 2013 Added PET Film line in Kentucky, US UFLEX A part of your life.. Henko M Eclairs 50 50 GEMS Top Ramen Film Capacity International Expansion 2011-2012 Added Film Capacity in Poland Added PET Film Capacity in Mexico & Egypt (Ph-2) & Mission "To meet customers dynamic packaging needs by providing innovative, productive, cost-effective, optimized and eco-friendly packaging solutions, continually adding value to their business" *Note: Multi Layer Processing Technology which is 100% recyclable. 5 UFLEX 'A part of your daily life'#8UFlex is in the Business of Packaging Films and Flexible & Aseptic Packaging Business Lines Packaging Films Key Highlights UFLEX 'A part of your daily life' Flexible Packaging Aseptic Packaging -60% Contribution to consolidated revenue Recipient of several awards for contribution to packaging industry -40% Contribution to consolidated revenue UFlex has been conferred with Flexible Packaging Awards for Technical Innovation Key Customers Printpack, UPM, Aditya Flexipack, Paharpur etc. End Use Milk Almond Milk Mondelez, Radico Khaitan, Perfetti, Truda, Nestle, Britannia etc. Caters to B2B segment, comprising of FMCG companies for Food Packaging, Electric Insulation, Graphics Arts, Garment Bags, Anti Wraps/Fog etc. Caters to B2B segment comprising of all major FMCG companies for packaging of products like edible items, pet foods, medicines, cosmetics, paints, cements etc. Full suite of differentiated products and a one-stop solution for all packaging needs, design, colors, structure, products, equipment, flexibility etc. 6 UFLEX 'A part of your daily life'#9Segment Details: Packaging Films BOPP Films CPP Films BOPET Films Business Overview Product BOPET Films High Tensile & Dielectric Strength BOPP Films • Strong Moisture Barrier, Cost Efficient Product Profile CPP Films Higher Transparency, Heat Salability, Twisting & Tear Strength The main products of this business are BOPET Films, BOPP Films, CPP Films, Metalized Films, Alox Coated Films and other specialty films. Characteristics Application Food Packaging, Electric Insulation, Graphic Arts and Imaging Food Products Packaging, Bags for Readymade Garments, Adhesive Tapes & Print Lamination Retort Packing, Food Wraps, Anti Wraps, Anti Fog, Garments Bag, Deep Freeze Applications • Metalized Films • Flexible, High Shelf Life AlOx Coated Films Thin & Transparent Snack food packaging, Biscuits & other Bakery products, Packaging of PET food • Dried Meat Manufacturing Locations India, Dubai, Mexico, Egypt, Poland, Kentucky, Russia, Hungary, Nigeria Manufacturing facilities are ISO 9001, 14001 and HACCP certified Available Capacity End Users Existing capacity of film business is 5,10,000 ^MTPA (India-92,000 MTPA and Overseas- 418,000 MTPA) Capacity, post Dharwad (India) & Dubai expansion, will increase to 5,91,000 ^MTPA (India-155,000 MTPA; Overseas- 436,000 MTPA) Caters to B2B segment, comprising of all major FMCG companies for packaging of products like Food Packaging, Electric Insulation, Graphic Arts, Garments bags, Anti Wraps, Anti Fog and Imaging Competitors . Taghleef Industries, Toray, SRF, Mitsubishi Polyester Films, Jindal Poly Films Key Clients • Printpack, Bimbo, UPM, GSK GlaxoSmithKline, EPAC Note: ^ excludes Alox coating line of 11,000MTPA in Mexico & Egypt 7 UFLEX 'A part of your daily life'#10Segment Details: Flexible Packaging CHOCOLATE Business Overview ADVANCILITY BORST RECYCLE ME BOUT RECYCLER The main products of this business are Flexible Laminates, Pouches, Bags, Flexi -Tubes & Liquid Packs laminates made of various combinations of Polyester film, BOPP film, Poly film, Metalized & Holographic films and others in roll form or various pouch form of several sizes and profiles Flexible Packaging also includes manufacturing of packaging and converting machines, cylinders, inks & adhesives; and holographic materials and solutions Available Capacity Manufacturing Locations End Users 100,000 MTPA Noida and Jammu, India Manufacturing facilities are ISO 9001, 14001 and HACCP certified Caters to B2B segment comprising of all major FMCG companies for packaging of products like edible items, pet foods, medicines, cosmetics, paints, cements etc. Competitors Huhtamaki, Am cor, Essel Propack, Paharpur, MultiFlex Key Clients Coca Cola, Amul, Radico Khaitan, P&G, Pepsico, ITC, Britannia, Fresco 8 UFLEX 'A part of your daily life'#11Segment Details: Aseptic Packaging UFlex is World's First Manufacturer of Holographic Aseptic liquid packs and foil stamping Overga Brand B Brand A Orange 1L g FRESHER PROACH A BETTER TOMORROWS 100% farm f - пе MIX FR www.asepte.com Fresh Milk Almond Milk Natural 100% Fresh & natural Business Overview Product Profile Available Capacity Uflex provides packaging solutions to products like juices, non-aerated alcoholic beverages and highly perishable liquid consumables like milk and other dairy products which are convenient for users, easy to open and have optimal shelf life Caters to B2B segment comprising of all major FMCG companies for packaging of products like edible liquids Aseptic Packaging products consists of Brick, Pillow & Trio Packs, Holography Packs, Foil Stamping Packs, Embossing Packs, Lens Effect Packs Existing capacity of Aseptic packaging is 70,000 MTPA; installed capacity of 7 billion packs (including expansion) Manufacturing Locations • Sanand, Gujarat, India Competitor Key Clients Tetra Pak Radico Khaitan, Fresco, Coca Cola, Chi Limited, Superior Industries, John Distilleries UFLEX 'A part of your daily life'#12UFlex has Wide Presence Across The World Corporate Structure UFLEX LIMITED (The "Company") India 68% Holding USC Holograms Pvt. Ltd. (India) Subsidiary - 68% Holding Special Purpose Vehicle for Holography and Tracking services of Govts. Of AP and Telangana 47.15% Holding Flex Foods Ltd. (India) Associate - 47.15% Holding Cultivation, Freeze, Drying & Other Food Processing Business Outside India Plastic Films Manufac. & Sales WOS: Wholly Owned Subsidiary 59.17% Holding International Holding Company Sales & Marketing- Plastic Film/Flexible Sales & Marketing- Plastic Film/Flexible Business Sales & Activities incl. Marketing Trading, R&D. Etc. Pack. Material Pack. Material Flex Middle East FZE, 40.83% Holding UAE (Dubai) (WOS) UPET Holdings Ltd. (Mauritius) (USA) subsidiary (WOS) Uflex Uflex Packaging Europe Inc. Ltd. (UK) (WOS) Digicyl Pte. Ltd. (Singapore) (JV-50% Holding) Flex Chemicals Pvt. Ltd. (Russia) (WOS) Plastic Films Manufac. & Sales Plastic Films Manufac. & Sales Plastic Films Manufac. & Sales Plastic Films Manufac. & Sales Plastic Films Manufac. & Sales R&D related activates International Holding Company Digicyl Limited Israel Flex P Films (Egypt) S.A.E. Flex Films Europa Flex Films Flex Films (USA) Sp.z.0.0., Inc. Poland (USA) (WOS) (WOS) (WOS) Africa Pvt. Ltd., Nigeria (WOS) Flex Films Russia LLC (WOS) Flex Foils Bangladesh UPET (Singapore) Pvt. Ltd. (WOS) Pte. Ltd (WOS) Plastic Films Manufac. & Sales Flex Films Europa KFT, Hungary (WOS) 10 Plastic Films Manufac. & Sales Flex Americas S.A. de.C.V., Mexico (WOS) (WOS of Digicyl Pte. Ltd.) UFLEX 'A part of your daily life'#13Key Credit Highlights#14Key Strengths One of the Fastest Growing and Most Profitable Packaging Solutions Partner Globally Almond Milk SUSTAINABILITY AWARDS COLUMBIA PrintWeek 2019Awards CHOCOLAIT UFLEX 'A part of your daily life' 1 Leading Global Material Sciences Player In A High Growth Industry With Exposure To Resilient End Markets 2 Well Diversified Business Model And Fully Integrated Player With Presence Across The Value Chain 3 Long-lasting Customer/Client Relationships Built Through Superior Service And Global Sales Footprint Robust Financial Performance with Strong Operating Margins and Cash Generation 5 Creating an Environment Friendly and Sustainable Brand with Dedicated Efforts on Recycling, Re-use and Reducing Waste 6 Highly Experienced Management Team And Majority Independent Board UFlex is well positioned to catapult into its next growth phase and emerge as the global market leader catering to the differentiated packaging needs of global customers 11 UFLEX 'A part of your daily life'#151 Attractive Market with Demand Drivers to Boost Growth Demand for Packaging ($bn) Global Annual Consumption (1) 2016-2021 CAGR 2022-2027 CAGR 3.8% 3.9% India 2016-2021 CAGR 2022-2027 CAGR Revenue ($bn) 9.8% 10.2% Revenue ($bn) 1,232 1,274 1,200 1,050 120 1,002 1,000 922 937 800 148 135 123 112 101 91 81 73 80 67 600 400 40 10 200 0 0 2019 2020 2021E 2022P 2026P 2027P 2019 2020 2021E 2022P 2023P 2024P 2025P 2026P 2027P Shift Towards Sustainable Materials Largest economies are regulating the use of plastics and moving towards recyclable plastic Technological Innovations Key Sector Themes Driving Growth Advances in technologies such as digital printing, industrial loT, connected devices and smart sensors are disrupting and propelling the sector forward Changing Consumer Preferences eCommerce growth leading to the re-design of packaging to better serve the channel Proliferation of the need for convenience on-the-go, resealable and microwave ready 111 Growth in Emerging Markets Global population increasing as well as ageing require lighter, easier to carry packaging formats Emerging markets to spur growth; APAC projected to account for 50% of global growth to 2022 Increasing use of Flexible Materials Flexible packaging expected to exhibit the strongest growth of the various substrates Technological advancements in film, low price point and consumer shift to convenience are behind the outsized growth Source: CRISIL Research, Indian Institute of Packaging 12 UFLEX 'A part of your daily life'#161 Strong Growth Prospects of Flexible Packaging Rigid Plastic Packaging Films and Flexible Packaging Paper/ Market Size of Packaging by Substrate ~$243 -$194 Global (As of FY21) UFLEX 'A part of your daily life' ~$368 Board Metal ~$126 Glass -$71 0 100 200 300 400 (Annual Consumption USD $bn) Market Size of Packaging by Substrate Rigid Plastic Packaging Films and Flexible Packaging Paper/ Board Metal Glass 0 (Annual Consumption USD $bn) -$9 -$7 India (As of FY21) -$16 -$19 UFLEX 'A part of your daily life' -$30 Source: CRISIL Research, Indian Institute of Packaging Note: Rigid includes Glass, Metal, Rigid Polymer. Flexible includes paper and flexible polymer only. 13 Growth Rate of Packaging Markets (% CAGR) 3.1% Rigid Plastic 2.1% Packaging Films and Flexible Packaging Paper/ Board Metal 0.0% Glass 0% 3.3% 3.0% 5.5% UFLEX 4.7% 'A part of your daily life' 4.5% 5.2% 2.7% 2% 4% 6% 2016-21 2022-27 Growth Rate of Packaging Markets (% CAGR) 9.1% Rigid Plastic 9.3% Packaging Films and Flexible Packaging Paper/Board 10.2% 10.4% UFLEX 'A part of your daily life' 9.7% 9.9% 11.6% Metal 10.8% 7.9% Glass 6.9% 0% 5% 10% 15% ■2022-27 ■2016-21 UFLEX 'A part of your daily life'#17UFlex Is Well Positioned to Capitalize on the Growth Given 1 the the End-to-end Integrated Model Value Chain Raw Material Manufacturer Vertically Integrated Business Model Primary Convertors Converts Raw Materials to Films Secondary Convertors Converts Films to Packs and Pouches UFlex Global Business Printers End-user Industries UFlex India Business UFLEX One of the few large players present across the value chain, providing end to end packaging 'A part of your daily life' Competitors Huhtamaki Amcor Garware Polyester Jindal Poly Films Chiripal Tetra Pak SRF MultiFlex 14 UFLEX 'A part of your daily life'#181 UFlex's Business is Non Cyclical, Catering to High Growth and Resilient End Markets India: Flexible Packaging Market By End-use (1) Global: Flexible Packaging Market By End-use (1) (Revenue ($bn) 2016-2021 2022-2027 (Revenue in $bn) 2016-2021 2022-2027 CAGR CAGR CAGR CAGR 4.8% 4.4% 10.1% 10.0% 4.4% 4.0% 11.0% 10.9% 5.8% 5.4% 29.3 8.5% 8.9% 7.1% 6.6% 237.0 9.1% 9.6% 26.6 5.8% 5.2% 215.9 226.5 205.2 27.0 24.0 5.9 11.8% 11.2% 194.4 25.7 21.7 5.3 176.6 180.6 24.4 15.6 23.0 14.7 2.2 21.6 13.7 18.2 19.3 4.7 12.8 17.2 2.0 17.2 4.3 2.6 19.4 19.9 11.9 16.3 15.4 1.8 16.0 2.4 10.4 10.8 14.5 51.4 3.7 1.7 2.2 13.0 13.4 49.4 47.4 5.5 45.3 3.3 3.0 1.5 43.2 2.0 5.0 39.7 40.4 [1.4 1.8 4.5 1.7 4.0 1.6 3.6 3.2 2.9 7.2 7.8 8.7 9.7 10.8 11.9 13.1 94.1 96.1 103.2 108.7 114.1 119.5 124.8 2019 2020 2021E 2022P 2023P 2024P 2025P 2019 2020 2021E 2022P 2023P 2024P 2025P ■ Food ■Cosmetics and Personal Care ■Beverages Healthcare Food Beverage Cosmetics and Personal Care Healthcare Other End User Vertical India's per Capita Packaging Consumption is Highly Under-Penetrated; Flexible Packaging Continues to be Preferred Option (1) Per Capita Consumption (in kgs) US 110-115 Europe 65-70 China 45-50 German 40-45 Brazil 30-35 India 14-16 Indian packaging industry is the 5th largest sector in the country and is becoming a preferred hub for global counterparts Indian packaging market was ~$80 bn in 2021, up 10% from $72.6 billion in 2020. The market has grown at ~9.8% CAGR from 2016 to 2021 and is expected to grow at a similar rate to reach $148 bn by 2027 The steady growth has continued even in the face of the Covid-19 challenge, on the back of consistent pharma and food products demand I I UFlex Exposure into Resilient End Markets (2) 8% 92% ■ FMCG ■ Pharma 1. Source: CRISIL Research, Indian Institute of Packaging. 2. UFlex supply to convertors/ intermediators and they may use it in the mentioned sectors. The sector-wise composition of revenue is for FY21 and it changes every year. 15 UFLEX 'A part of your daily life'#19Well Diversified Business Model with High Focus on 2 Innovation Key Tenets of UFlex's Business Model Revenue Split between Flexible vs Films 100% 90% Continued Focus on Innovation and New Product Development with ~2- 3 major product launches every year and 3-6 product variants 80% 39% 42% 40% 70% 60% 50% 40% 30% 61% 58% 60% 'Sustainability Of The Year' And 'Product Of The Year' in 20% 2021 10% AIMCAL 0% FY 2019 ■Films FY 2020 ■Flexible & Aseptic Packaging FY 2021 PACKAGING EXCELLENCE AWARDS 2020 Packaging Gateway Excellence Awards 2020 In The Category 'Best Covid 19 Response' Revenue Split between Domestic vs. International 100% ***** 80% 51% 51% 53% 60% 40% APEXINDIA GREENLEAF Uflex's Chemicals Business won the Apex Green Leaf AWARDS 2020 Award 2020 - Platinum Category for Environmental Excellence 49% 49% 47% 20% 0% FY 2019 FY 2020 FY 2021 ■ Domestic ■International 16 UFLEX 'A part of your daily life'#202 Uflex has State-of-the Art Manufacturing Infrastructure with 16 Manufacturing Facilities Across 9 Countries Strategically Located Manufacturing Facilities Global Capacity of -680,000 MTPA: Deliver Anywhere in the World Within 15 Days Plant Region Capacity (MTPA) US 30,000 % Utilization (9MFY22) 106% Mexico 60,000 100% Region (Europe) Plant Capacity (MTPA) Poland 75,000 % Utilization (9MFY22) 98% Plant Region (India) Capacity (MTPA) % Utilization (9MFY22) 92,000 113% Kentucky, US (Packaging Films) Mexico (Packaging Films) Nigeria (Packaging Films) • Stupino, Russia (Packaging Films) Września, Poland (Packaging Films) Hungary (Packaging Films) Film Packaging Business India Flexible and Aseptic Packaging India 135,000 73% Jammu, India (Flexible Packaging) 6th October City, Egypt, (Packaging Films) Bangladesh (Packaging Films) Noida, India (Packaging Films and Flexible Packaging) Sanand, India (Aspetic Liquid Packaging) Plant Region Capacity (MTPA) % Utilization (9MFY22) Dubai 22,000 100% Jebel Ali Free Zone Dubai, UAE (Packaging Films) Russia 30,000 96% Hungary 42,000 91% Nigeria 45,000 57% Business Centres Americas Europe India EAP Egypt 114,000 94% Advantages of Vertical Integration Manufacturing Capabilities Lower switching costs among suppliers Lower lead time Reduces reliance on third parties Higher flexibility and speed to market Enhances the knowledge pool and R&D capabilities Ability to position better with customers Cost advantages across different businesses UFlex offers superior technology - an inline shouldering process with optimized shoulder weight and supply chain flexibilities for various diameters, thread profile and orifices as against traditional pre molded shoulder welding 17 UFLEX 'A part of your daily life'#212 UFlex Localized Supply-Chain results in Cost-Efficient Operations FY21 Purchases 28% ■Local/adj. Localized Procurement in Major Production Facilities 72% ■Rest of the world UFlex has a history of dealings with marquee suppliers globally. However, as an industry practice, we do not enter into long term fixed price contracts. The absence of long term contracts provides UFlex a hedge against input cost fluctuations and flexibility to react quickly to pricing changes. UFlex is able to pass-through any increase/decrease in raw material costs to its customers, thereby keeping inventory costs in check as well as passing lower costs to customers, as and when such situations arise. The inventory holding period is optimal (~90 days in FY21) The Global presence of UFlex enables it to source raw materials locally wherever it is cheaper, resulting in cost efficient operations and making it immune from geo-political disruptions. Packaging Films* Bright Silica Garden Silk Mills limited (3+ years) IIVL Dhunseri Petrochem (4+ years) Ester Industries Limited (3+ years) Lodestar Trading (3+ years) Garden Silk Mills limited (3+ years) Films Flexible Packaging* Captive, Max Speciality Films limited (9+ years) Paper • Pudumjee Paper Products Ltd (4+ years) Paper Homo- polymer/ Co-polymer HPCL-Mittal Energy Ltd (3+ years) Stora Enso Skoghall (4+ years) UPM Pulp Sales (7+ years) Bilt (8+ years) Alum. Foil Aseptic Packaging* • Stora Enso (4 Years) Billerud korsnas Sweden (4 Years) Dingsheng (4 Years). Dong-il Aluminium (4 Years) • BASELL international (3+ years) Exxonmobil Chemical Asia (3+ years) Chemicals & Adhesive Captive, Henkel (10+ years) Miwon Specialty chemical (4+ years) DOW Chemical (4+ years) Inks • DIC India Limited (4 Years) Adhesive DOW Chemical (3 years) Aluminium PHIFER INC (3+ years) Wire/ Additives Ampacet (Thailand) Co. Ltd (3+ years) Aluminum Wire Shanghai Shenhuo Aluminium Foil (5+ years) Metallised Films Captive *Note: Number of years refers to length of relationships 18 UFLEX 'A part of your daily life'#22Proximity to Customers Across Major Business Centres Reduces Lead 2 Time for Deliveries and Enables Cost-Competitiveness Manufacturing Location Agents/Distributor Direct Presence 1 Kentucky, USA Mexico По Poland Hungary Russia Egypt Nigeria India Dubai, UAE по Advantages of Vertically Integrated Manufacturing Capabilities Strong presence in all major business centers reduces lead time for deliveries, a key competitive and cost advantages Large S&D network on global basis, entails diversified & valuable customers with global business potential 19 UFLEX 'A part of your daily life'#23Packaging Solutions Partner Driving Long-lasting Customer 3 Relationships and Low Concentration Risk Length of Customer Relationships Nestle Kolak Snacks Truda Foods P&G Pepsi Co Mondelez Bemis Amcor Huhtamaki UPM Raflatac* American Pkg Dupont Teijin films 8+ 8+ 8+ 5+ 7+ 10+ 8+ 9+ 6+ 9+ 8+ 9+ The Total Contribution Of Top Customers In Overall Operational Revenue (in %) 36% 34% 34% Top 20 9 47% 46% 47% Top 50 ■FY19 FY20 ■FY21 56% 59% 55% New Client Additions in Flexible and Aseptic Packaging Division Top 100 Flexible Packaging Aseptic Packaging 11 13 9 14 6 2 35 10 10 8 20 22 17 18 19 21 14 5 12 8 10 5 5 1QFY19 2Q FY 19 3Q FY 19 4QFY19 1QFY20 2Q FY20 3QFY20 4QFY20 1QFY21 2QFY21 3Q FY21 4QFY21 FY19 FY20 FY21 +124 Clients +108 Clients +71 Clients *Note: UPM is pioneer customer of 100% PCR Asclepius Films. 20 UFLEX 'A part of your daily life'#24Robust Financial Performance with Strong Operating 4 Margins and Cash Generation Revenue from Operations EBITDA (1) PAT (US$m) (US$m) (US$m) 12.4% 14.6% 20.3% 16.5% 3.9% 5.0% 9.5% 8.1% 1,500 300 150 1,300 1,210 1,245 245 250 1,083 1,100 1,007 200 900 150 700 100 500 300 50 100 0 ال الس السر 125 115 101 100 75 50 43 50 25 0 FY19 FY20 FY21 9MFY22 FY19 FY20 FY21 9MFY22 FY19 FY20 FY21 9MFY22 Total Assets EBITDA Margin Capex PAT Margin Debt (2) (US$m) 2,100 (US$m) 3.7% 1.6% 1.2% 1.8% 1.1% 39 60 90 96 450 700 1,838 1,800 1,609 375 600 581 550 493 1,500 1,361 500 300 18 1,200 1,083 400 225 286 900 300 150 600 281 13 200 33 300 75 145 15 100 72 50 40 0 0 0 FY19 FY20 FY21 9MFY22 FY17 FY18 FY19 FY20 FY21 FY19 FY20 FY21 9MFY22 ■ Growth ■Maintenance Maint. Capex as % of Sales Cash Balance 1. 2. EBITDA Revenue from Operations - Expenses + Depreciation + Finance Costs Debt includes long term borrowings (incl. current maturities), short term borrowings and lease liabilities since FY20 21 UFLEX 'A part of your daily life'#25Conservative Levels of Debt with Strong Liquidity and Fully 4 Funded Capex 10.00x 8.00x EBITDA/Interest Expense (1) 6.00x 4.81x 4.54x 4.00x Debt/EBITDA (3,4) 5.00x 7.87x 4.00x 6.79x 3.00x 2.13x 2.00x 3.35x 2.24x 2.12x 2.00x 1.00x 0.00x 0.00x FY 2019 FY 2020 FY 2021 9MFY22 FY 2019 FY 2020 FY 2021 9MFY22 Gearing Ratio (2) Net Debt/EBITDA (3,4) 0.90x 0.77x 0.60x 0.49x 4.50x 0.73x 0.69x 3.00x 2.94x 0.30x 0.00x FY 2019 FY 2020 FY 2021 1. Interest Expense = Finance Costs. 1.84x 1.50x 1.88x 1.77x 0.00x 9MFY22 FY 2019 FY 2020 FY 2021 9MFY22 2. Gearing Ratio = Total Debt divided by Total Equity (Equity Share Capital + Other Equity). 3. Debt Long Term Borrowings + Short Term Borrowings + Current Maturity of Long Term Debt + Current and Non Current Lease Liabilities; Net Debt = Debt - Cash (incl. Bank Balances) 4. Debt/ EBITDA and Net Debt/EBITDA for 9MFY22 are calculated basis LTM EBITDA values 22 UFLEX 'A part of your daily life'#265 Sustainability at UFlex FURNITURE & DECORS OUTDOOR ELEMENTS ROAD DIVIDERS CORE PLUGS POTS & CONTAINERS UFLEX 'A part of your daily life' HOUSEHOLD ITEMS INDUSTRIAL PRODUCTS#275 Circular Vision of UFlex Extended Producer Responsibility for Packaging Mechanism Collect Recycle/ Reuse Biodegrade Problem Sustainable Space High C Circularity Low A B Govt. Solution Sustainability at UFlex EPR-Guidelines UFlex Project Plastic-Fix Industry Compliance to EPR Consumer Responsible Disposal High Carbon Footprint A Flexible/Plastic packaging B Alternate to Flexible Plastics Packaging-Aluminum/Tin/Paper/Glass Future of Flexible/Plastic packaging UFLEX 'A part of your daily life' 23#28UFlex has transitioned to become a Material Sciences 5 Company built on the vision of Circularity UFlex's four fold approach to sustainable and eco friendly packaging is a key Unique Selling Proposition . • UFlex Group has been a trendsetter when it comes to sustainable innovation and commitment towards the 'Circular Economy' UFlex converts plastic waste into fuel, biomass and green films through the superior technology that it has developed UFlex recycles waste into granules which can be used to produce 1000+ products Sustainable packaging is a opportunity for UFlex as it is best positioned among global peers to respond to environmental changes Waste2energy At its Noida Packaging plant, UFlex converts 6 tonnes of discarded waste material into Liquid Fuel, Hydrocarbon Gas and Carbon Black. Biomass UFlex develops special master batch additives that converts plastic waste into 100% bio-degradable biomass 1 4 Pyrolysis Greenhouse-emission-free fuel conversion from plastic waste FUEL CIRCULAR Recycling MLP waste into granules used to make over 10000 products: road dividers, furniture, dustbins ECONOMY FROM WASTE TO WEALTH Converting plastic waste into 100% biodegradable biomass Biomass 2 Converting waste plastic bottles into upto 100% PCR films Asclepius Asclepius 3 BEST PAPER AWARD In recognition of his work and presentation at the Davos RECYCLE'95 Forum May 15-19, 1905 Davos, Switzerland on the subject of "Recycling of Mixed Plastic Waste Comprising of Laminated Films of Metalled PET/LDPE/BOPP and Printed with Inks Mr. Vipin Mital FLEX INDUSTRIES LTD. INDIA has been awarded with the BEST PAPER HONORS in the section on Plastic Films and Source Reduction For the Organising Committes Recycling UFlex converts Multi Layered Packaging (MLP) Waste into granules that are re-used to manufacture industrial/ household products like roads, outdoor furniture, paver tiles, ladders etc. and fetches commercial Green Film Asclepius It is a 100% post-consumer recycled content (PCR) BOPET barrier film. This film represents a 75% reduction in carbon footprint versus virgin BOPET grades. UFLEX 'A part of your daily life' 24#295 One of the First in the World to Recycle Mixed Plastic Waste Among the first in the world to recycle mixed plastic waste for which it earned recognition at Davos Recycle Forum in 1995, way ahead of other companies from developed economies 05 (01 Recycling Machine Setting recycling units for industry Converts (02 且 MLP waste into granules Uflex's recycling unit in Noida Processed in Injection Moulds 03 Highlights of Initiatives Taken PCR & PCPR Recycling Infrastructure at Noida is used to form up to 100% PCR based green films Ascelpius and granules are converted into extrusion products. Clone capacities are being developed in Mexico, Egypt and Poland Launched 'Project Plastic Fix' a four way method by UFlex to reinstate the virtue of plastic from Waste to Wealth Developed host of new sustainable products such as RELAM 250 to recycle all layers of MLP homogenously UV LED sheet fed Ink series, Water based Inks, Paper based tubes, Water based Cylinders, Solvent-free Adhesives Low carbon footprint packaging films: F-MSH, F-PS, B-THP & more Creates furniture, dustbin etc. (04 ஆ 25 ALL-IS MLP technology UFLIX MP CYCLING MACHINE Converts into pellets Recycles into furniture, road etc. UFLEX 'A part of your daily life'#306 High Performing Team with Operational Experience The company has an experienced management team where key members all have over 25 years of industry experience 38+ EX 5+ A y life' 10+ EX An Experienced, Dedicated and Professional Management Ashok Chaturvedi, Chairman & MD • • First Generation Entrepreneur and the Founder Promoter of UFlex Group He is revered as the 'Father of the Flexible Packaging Industry in India' for developing innovative packaging for 35+ years Conferred with several awards for his contribution to industry . Rajesh Bhatia - Group President (Finance & Accounts) & CFO • Mr. Rajesh Bhatia is a Commerce Graduate and an Associate Member of The Institute of Chartered Accountants of India (ICAI) He holds 30+ years rich experience of in the fields of Finance, Accounts, Taxation, Business Development. His last assignment was as CFO & CEO - Global Business of Jindal Steel & Power Ltd. (JSPL) A par ily life' . Anantshree Chaturvedi Vice Chairman & CEO, FlexFilms Intl' He learned the trade of flexible packaging both domestically and internationally with hands-on experience in India, Mexico, Poland, Egypt, UAE & USA; and subsequently spearheaded the expansion of UFlex in USA He is additionally vested with the responsibility of Global Product Stability, R&D, HR Protocols 25+ EX ly life' 7+ p .EX aily life' HB 26+ EX fe • Jagmohan Mongia, Whole-time Director, Packaging Films Jagmohan brings in a strong expertise of Sales & Marketing domain and has a proven track record of business development and building strong sustainable organizations He comes with a rich experience of four decades in industries like Textile, Steel and Paints and has worked with renowned companies like Berger Paints and Garware earlier. Jagmohan has been associated with UFlex for over 25 years Ashwani K. Sharma, President & CEO, Aseptic Packaging Business • He has been driving large organizations globally with rich experience of 28 years. His last assignment was with Asia Pulp & Paper based out of Jakarta, where he served as the Managing Director of a 25 Billion USD Company He enriched global exposure as he was based in Europe as CEO & Chairman of the Board of Horizon Pulp & Paper P.L Sirsamkar, President & Technical & New Product Development, Packaging Films Business • Mr. P.L. Sirsam kar is Instrumentation & Electronics Engineer and has been with the Group for over 26 years. Prior to UFlex, he worked with reputed organizations like Garware & Polyplex. He has experience of 37+ years in Packaging Films business • 4+ life' Tenure Apoorvshree Chaturvedi, Director, EU Operations & Sustainability • Mr. Apoorvshree Chaturvedi is the Director of European Union Operations and Head of Corporate Sustainability Actions on ESG and Growth Related Ventures at UFlex Group He is an alumnus of New York University. He joined UFlex in 2012 as a Managerial Trainee and spearheaded Marketing & Sales for European & Middle East regions at UFlex 9+ X ife' 26 Chandan Chattaraj, President, Human Resources Chandan Chattaraj has three decades of experience with esteemed organizations like Aircel, The Oberoi Group, Xerox India and Jubilant Organosys in leadership roles He has been conferred with many honours like 'HR Professional of the Year', 'HR Leadership Award' and 'Best Transformational Coach by World HRD Congress UFLEX 'A part of your daily life'#3160 High Performing Team with Operational Experience An Experienced, Dedicated and Professional Management Team Ajay Tandon, President- Engineering, Product Development 19+ EX Vife' · 29+ A 22+ 21+ EX . Mr. Ajay Tandon is a Mechanical Engineer and has been associated with UFlex for over 19 years. He has over 42 years of extensive experience particularly in the field of Materials Management, Production, Engineering and Chemicals. Prior to UFlex, Ajay has worked with reputed organizations like Philips, JVC-ONIDA, Paradise Plastics Limited. Ny life' • Dinesh Jain, President, Legal & Corporate Affairs . Mr. Dinesh Jain is a MBA and LLB & LLM (Gold Medallist) from Agra University. He has a rich experience of four decades and has been associated with the Group for over 29 years. Dinesh is the Chairman of National Institute of Personnel Management- Delhi NCR Chapter and Past President of Noida Management Association. Jeevaraj Pillai, Joint President, Flexible Packaging and New Product Development • He has over 34 years of experience in Packaging technology from Pre-press and cylinder making, film making, to high-end conversion of flexible packaging material. • He has command on Energy Curing Technology, Hologram embossing, new generation Flexi tubes etc. Anup Sachdeva, Joint President, Global Exports 7+ LEX aily life' 2+ 典 2+ EX A Nife 2+ EX A p v life' • Anup Sachdeva is responsible for Packaging Exports worldwide. He has over 32 years of industry experience. DOPPLER • Tenure Sachdeva's contribution is in making UFlex's packaging products globally acclaimed. Before joining UFlex, he worked with companies like Colour Cartons (Part of Jardine Henderson Group) & Ballarpur Industries. 27 Rajesh Bhasin, Joint President, Chemicals Business . Mr. Rajesh Bhasin has meritorious experience of over 29 years of handling challenging and complex marketing assignments. . Prior to UFlex, Rajesh has held leadership positions at Pidilite, Jubilant Organosys and Essel Propack. He is adept in setting up joint ventures, acquiring new businesses, launching new product categories and initiating brands. (7+ years) Amit Shah, Joint President and Chief Marketing Officer • Mr. Amit Shah is an industry veteran with 26+ years of domestic & international experience in B2B Marketing and Sales, both in Domestic as well as International markets, Product Development and Launch and turning around of businesses. Yogesh Kapur, Exec. Vice President, Holography Business • Mr. Yogesh Kapur is an accomplished industry leader with 30+ years of domestic & international experience in Operations, Profit Centre Management, B2B Marketing & Sales and Strategic planning in both startups & growth organizations. Prior to UFlex, he held leadership positions with 3M India in different countries at various ranks, for more than two decades. • Parwez Izhar, Senior Vice President, Cylinders' business • Mr. Parwez Izhar holds Master's Degree in Finance from XLRI, Jamshedpur and is Lean 6-Sigma Black Belt Champion. He has also studied Implications of Artificial Intelligence on Business Strategy from MIT Sloan, USA. Parwez brings with him close to three decades of experience in areas like Strategic Planning, Costing, Project Management. UFLEX 'A part of your daily life'#326 Strong Corporate Governance and Robust Internal Controls Listed on Indian Bourses Since 1989 Corporate Governance Structure Shareholders Board of Directors Stakeholder Relationship Committee Audit Committee Nomination Corporate and Social Remuneration Responsibility Committee Committee Risk Management Committee Board of Directors The BoD of UFlex comprises of 7 Directors, consisting of 2 Executive Directors 4 Independent Non-Executive Directors (including one Woman Director) Nominee Director of IFCI, who is also a lender to the Company Only One directorship in BoD is held from within the promoters' family The Company follows a moderately conservative leverage policy The policy is to keep sufficient margin of safety & cash reserves (Working capital utilization levels up to 80%) at all times Target Debt to EBITDA ratios is set within limit of <3.5 Key Internal Committees (1) Audit Committee: Comprises of 5 directors: Smt. Indu Liberhan, Shri Jagmohan Mongia, Shri Tara Sankar Bhattacharya, Shri Paresh Nath Sharma and Shri Pradeep Narendra Poddar. It is responsible for oversight of financial reporting Nomination and Remuneration Committee: Members are Smt. Indu Liberhan, Shri Pradeep Narendra Poddar and Shri Paresh Nath Sharma. All the members of the Nomination and Remuneration Committee are Non-Executive Directors. The Committee is responsible for Compensation, Diversity of Board, Qualifications etc. Stakeholder Relationship Committee: Consists of 3 members viz. Shri Jagmohan Mongia, Shri Paresh Nath Sharma and Smt. Indu Liberhan. The Committee approves issue of duplicate certificates, oversees and reviews all matters connected with the securities' transfer. The Committee looks into redressal of investors' complaints. Corporate Social Responsibility Committee: Comprises of Smt. Indu Liberhan, Shri Jagmohan Mongia and Shri Paresh Nath Sharma. The Committee's prime responsibility is to assist the Board in discharging its social responsibilities by way of formulating framework and monitoring implementation. 1. As of 11th April 2022 28 UFLEX 'A part of your daily life'#33Appendix Restricted External - ASEPTO#34Awards & Accolades Uflex has received awards for its packaging excellence all across the globe 1. 2. UFlex won 11 titles at the SIES SOP Star Awards 2021 across its business, in the categories of Sustainable & Eco- Friendly (including the President's Award for Sustainability & Innovation for its "Kraftika" paper-based tubes for Wow Skin Science), Packaging Materials & Components, Pet Food, Packaging Machineries/Systems and Pharmaceutical & Medical UFlex won the TPCI MSME Export Excellence Award 2022 for being an "innovation leader" in the Flexible Packaging industry for its sustainable flexible packaging; UFlex's food-compliant water-based ink FLEXAQUAPAP for food wraps was recognized at the WorldStar 2022 awards for its ability to meet business and sustainability goals 3. The Company's Chemicals Business won the Apex Green Leaf Award 2020 - Platinum Category for Environmental Excellence 2020 AIMCAL OF THE YEAR (USA) Inc/UFLEX 4. 5. 6. 7. 8. 9. UFlex received the prestigious Mahatma Award, initiated by the Aditya Birla Group, in the category of CSR Excellence and Sustainability for its impactful work in water conservation and resource management in the villages. of Noida UFlex won 18 awards at the IFCA STAR Awards 2021 for Innovation, Creativity and Best Branding via Packaging for several products, including non-woven block bottom bags for Ripuraj Rice, hot seal pinch concept WPP bags for Mahmood Rice, value-added 3D pouch packaging for Al-Fanoos Coffee and resource-efficient pouches for Naturohabit Fresh Beauty Products and Cosmetics FlexFilms USA won AIMCAL Awards 2021 in the category 'Sustainability of the Year' for F-ISB Cold Forming Metalized BOPET film for Blister Packaging. UFlex won AIMCAL Awards 2021 in the category 'Product of the Year' for Non-woven block bottom re-closable bags for rice packaging. FlexFilms USA won Packaging Gateway Excellence Awards 2020 in the category 'Best Covid 19 Response' for COVID-19 Outbreak - A Clarion Call for Continuity in Crisis. UFlex won Packaging Gateway Excellence Awards 2020 in the category 'Environmental Impact' for "Driving the Circular Economy with UFlex Technology to Recycle MLP Packaging Homogeneously". 10. Innovative and creative solutions in packaging by UFlex wins 12 awards at SIES SOP Awards 2020. 11. Three of FlexFilms USA products - Ultra Soft Super Durable BOPET Film F-STF for Luxury Products, PCR based BOPET Film Asclepius TM and Metallized High Barrier BOPET Film F-HBP-M for Food Packaging declared winners at the World Star Awards 2021. 12. UFlex Awarded by NOIDA Authority for its innovative and sustainable business practice to make NOIDA a "Clean, Swachh and Sustainable City". 13. Films Business (India) declared Platinum winner at 8th Exceed Occupational Health, Safety Award 2020 for Outstanding Achievement in Industrial Safety category hosted by Sustainable Development Foundation supported by Ministry of Labour and Employment, Government of India. 14. Asepto, Liquid Packaging Business of UFlex has been awarded as 'India's Most Admired Brand 2020' and Ashok Chaturvedi, Chairman and Managing Director, UFlex has been conferred with the 'Inspirational India Leaders 2020' title by White Page International. PrintWeek 2019 Awards Papers of the e P by Dubet incle ex its e 29 Appendix UFLEX 'A part of your daily life'#35Awards & Accolades (contd.) Appendix 15. UFlex won 4 AIMCAL 2020 Awards 1) Sustainability of the Year Winner and Technical Excellence Recyclable PE/PE Laminate for Wet Wipes for Primark; 2) Product Excellence: Flexitube for Clariss Organic Face wash; 3) Technical Excellence: 4D Bags with Handle for Royal Gold and Rice King. 16. UFlex Bags 3 Gold and 3 Silver at FPA 2020 Awards. 1) 4D Bags with Handle gets Gold Award in Shelf Impact; 2) Flexitube for Bio Creative Labs (USA) gets Gold Award in Packaging Excellence and Expanding the Use of Flexible Packaging, gets a Silver Award in Technical Innovation; 3) Flex Asclepius TM PCR Based BOPET Film gets a Silver Award in Sustainability; 4) FLEXPET™ F-STF Ultra Soft Super Durable BOPET Film gets a Silver Award in Shelf Impact. 17. UFlex Chemicals Business won the International Safety Award from British Safety Council for its commitment towards good health and safety practices 18. UFlex Chairman & Managing Director Mr. Ashok Chaturvedi conferred with 'Father of Flexible Packaging' at 1st Global Conference on Plastic & Packaging 2019. 19. AIMCAL 2019 Technical Excellence Award for PET-F-HBP-M High Barrier BOPET film for Food Packaging applications, AIMCAL 2019 Product Excellence Award to F-TBF- M-08 metalized, ultra-thin and ultra-high yield BOPET film for metalized balloons and AIMCAL Excellence Sustainability Award 2019 to 90% Post-Consumer Recycled- content (PCR) BOPET barrier film for 75% reduction in carbon footprint versus virgin BOPET grades 20. UFlex has been recognized for innovative packaging in the category of Excellence in Packaging Beverages - Large Enterprises for Asepto Spark 'Fresca' at The Economic Times Polymers Awards 2019. 21. FlexFilms USA has been granted United States Patent for Breakthrough 'BOPET Film' Used for 'Alu blister' packaging. 22. UFlex won overall 'Best Sustainable Packaging Innovation' Awards 2018 & 'Resource Efficiency' Awards 2018 category for its biodegradable, waterless flower packaging solution hosted by Packaging Europe. 23. Dow 2018 30th Awards for Packaging Innovation adjudged UFlex' Waterless Internet Flower Packaging as the Diamond Finalist Winner. 24. 2018 AIMCAL Product & Technical Excellence Award to Shudh Plus Ultra - Sparkling Tactile Sachet with 3D Embossing for Mouth Freshener. 25. Flexible Packaging Achievement Awards 2018 - Gold in Technical Innovation and Silver in Printing and Shelf Impact to Shudh Plus Ultra - Sparkling Tactile Sachet with 3D Embossing for Mouth Freshener and Silver in Sustainability to Nescafe Sunrise Non Foil Instant Coffee Sachet. 26. Economic Times Polymers Lifetime Achievement Award to Chairman & Managing Director of UFlex Limited, Mr. Ashok Chaturvedi. COATERS Print Week 2019Awards SUSTAINABILITY AWARDS 30 FPA AIMCAL AIMCAL TECHINCAL EXCELLENCE Heible Ping Flex Limited SUSTAINABILITY AWARDS 201 Bb Cerall Winer UBex Limited CERTIFICATE UFLEX 'A part of your daily life'#36Leverage Profile Debt Breakdown (Dec'21) Long Term Debt Maturity Profile (2) (US$m) (Dec'21) FX = 74.3025 INR m US$m Long Term Debt (incl. Current 33,029 445 Maturities) 46 50 50 41 Working Capital 14,540 128 Leases Total Debt 602 8 40 33 29 48,173 581 FY23 FY24 FY25 India Overseas Key Lenders Split of Long Term Debt (Dec'21) International 69% Note: USDINR - 74.3025 Punjab National Bank Woori Bank State Bank of India Commercial Bank of Dubai Domestic 31% US$445mn BBVA JP Morgan OLB Bank Canara Bank 31 J&K Bank UniCredit Bank Polski Qatar National Bank UFLEX 'A part of your daily life'