Investor Presentaiton

2023 Financial Summary • Lower disposable income and high input costs as a result of inflation and naira devaluation continue to put volumes and margins under pressure. • Despite these significant headwinds we were able to grow our revenue by 9% compared to the previous year aided by positive price mix. Operating Profit performance was relative strong despite higher input- and one-off reorganisation cost due to aggressive cost savings and other efficiency measures. • Net Profit was negative mostly due to the devaluation of the naira which resulted in N153 billion loss on foreign exchange transactions. • Although recent policy reforms have severe impact on businesses and consumers, we are hopeful that they will ultimately, be beneficial to the long-term growth prospects of the country and the Company. • The Nigerian business environment remains turbulent on the short term. However, long-term market fundamentals of Nigeria are still positive and we continue to invest in Nigeria. We have the history, footprint, brand portfolio, people and necessary capacity to capture the expected long term growth in Nigeria. NB 25

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