Investor Presentaiton

Source of capital Financial Highlights Strong balance sheet with improved leverage ratios Use of capital Summary Balance Sheet Net Debt (N 'bn) Debt Mix FMN Food and Agro-Allied Group All figures in N'bn FY21 FY20 % change PPE 208.7 216.9 (4) 196.6 26% 23% 36% Right of Use Assets 16.5 14.9 11 Working capital 92.0 46.3 99 Others 13.5 10.9 24 Cash 37.2 26.2 42 10 131.0 79% 109.7 81% 95.5 83.4 74% 77% 64% 21% 19% FY17 FY18 FY19 FY20 FY21 Total 367.9 315.2 17 FY17 FY18 FY19 FY20 FY21 ■Long-term debt Short-term debt Leverage Ratios Borrowings 132.7 109.6 Lease liabilities 16.7 13.4 Others 43.9 36.5 Non-controlling interest 6.4 6.9 Equity & Reserves 168.2 148.9 Total 367.9 315.2 222 MA 21 25 4.2x 20 (7) 13 17 3.5x 3.0x 2.8x 2.8x 1.9x 0.9x 0.7x 0.5x 0.5x FY17 FY18 FY19 FY20 FY21 Assets to Equity Net debt to Equity FLOUR MILLS OF NIGERIA PLC | INVESTOR PRESENTATION FULL YEAR 2021 13

View entire presentation