MTR Foods Acquisition of Eastern Condiments

6 Eastern has similarly built a nationwide presence from its base in Kerala Business highlights • Established in 1983 with headquarters in Kochi, Kerala • • Total revenue of INR 8,979m and normalised EBITDA of INR 1,076m1 The entity is owned by: - - 66.3%: Navas and Firoz Meeran (Promoters) - 7.7%: Meeran family members 26.0% McCormick Ingredients SE Asia PTE LTD Sale and distribution of blended and single spices as well as other food mixes and powders • Half of sales from South India (Kerala mostly), ' ~ from rest . of India and from export (mainly to Middle East) ~3,000 FTEs (company has its own distribution set-up) More than 900 SKUs produced across the company's 7 production facilities • Produces both vegetarian and non-vegetarian products (MTR only vegetarian) Source: Company information 1 LTM 30 June 2020, consolidated figures, excl. carved out tea-business Net sales by region Others 2% Exports 24% FY20 50% Kerala Maharashtra 3% 6% Andhra Pradesh 7% Uttar Pradesh 9% Blended spices Karnataka Eastern Single spices Other categories Eastern Eastern Eastern Easter SWEET CORN Kashmiri Chilly Easter Sambar Eastern Par Chitter Cardamom Powder em Eastern Kathu Chity Chilly Powe Easter CHSTER KABSA Orkla

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