Investor Presentation

AWL Structural Advantages Packaged Staple Foods is an attractive industry with large TAM of ~$90bn Portfolio Advantage: Common capabilities (agri-sourcing, co- manufacturing, logistics) and common customer (distributor, consumer) across all our products. This enables focus and highly efficient systems built for scale Branded penetration in staple foods is less than 15%. Branded sale is expected to grow rapidly due to consumer preference shifting towards branded products Value added products - continued forward integration of products is margin accretive Structurally low-cost operating model with large and strategically placed manufacturing units. Co- manufacturing locations give scale advantage in manufacturing & logistics *ROCP - Refined oil consumer pack 9-0 60+U Logistic advantage provided by large scale of edible oil business. ~500+ trucks dispatched daily can cost-effectively carry any new product across India, along with good frequency Well positioned to capture demand driven by increasing per capita income in India fortune edible oils and foods

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