Investor Presentaiton

Financial Performance Strong revenue expansion with solid Gross and Operating Profit growth and Q2 profit ahead of LY CONSOLIDATED STATEMENT OF PROFIT & LOSS (N'BN) FMN Food and Agro-Allied Group H1'24 H1'23 %Chg Q2'24 Q2'23 %Chg Revenue Cost of sales 964.6 720.6 (859.2) (651.8) 34 508.3 381.0 32 (453.1) (345.4) 33 31 Gross profit Operating expenses 105.5 68.8 (37.0) (26.0) 53 55.2 35.5 55 Quality and flavor 42 (20.0) (11.1) 79 in every mouthful Net operating gain 7.4 7.3 1 11.0 5.3 107 Operating profit before FX adjustment 75.9 50.1 52 46.3 29.7 56 FX loss (51.2) (19.7) 160 (28.7) (14.7) 96 Operating profit after FX adjustment 24.7 30.3 (19) 17.6 15.0 17 Investment income Finance costs 1.8 (34.6) (22.3) 55 0.4 368 1.6 0.2 766 (18.0) (14.2) 27 Profit before taxation (8.1) 8.4 (197) 1.2 1.1 14 Good Meet Pepper- Taxation (0.4) (2.7) (86) (0.4) (0.9) (55) Golden Instant N Golde Instan Jollof Ch Golde Instan Jollof C Profit for the year (8.5) 5.7 (249) 0.8 0.2 300 70g EPS 243.0 197.0 23 6.0 60.0 (90) FLOUR MILLS OF NIGERIA PLC | INVESTOR PRESENTATION H1'24 Golden Penny Instant Noodles Chicken Flavour 1000

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