Investor Presentaiton

Food Segment High margin B2C products continues to drive profit upwards FMN Food and Agro-Allied Group Segment Revenue (N'bn) FY'21 FY'20 % Change % Q4'21 Q4'20 Change Revenue 478.3 358.4 33 134.4 96.3 40 10 Profit Before 36.4 26.5 37 28.0 20.0 40 40 Tax Volume Mix per category 0 23% FY'21 Pasta volume growth 26% FY'21 Ball Food volume growth 18% • • • 65% Flour 20% Pasta 10% Ball Foods 3% Noodles FY21 volume growth in value brands • 2% Others N120bn increase in revenue driven by rising B2C volume contribution with higher value share double digit growth in core B2C categories: +31% Noodles, +23% pasta and +23% Semo Margins improve as product mix becomes more B2C weighted, from 29% of total food volumes (FY'20) to 35% of total volumes (FY'21) Rolled out 60 distribution vans to key dealers resulting in enhanced point of sales reach. Additional 40 vans to be purchased in Q1'FY22 Invested in additional lines across Pasta, Semovita and Noodles, including packaging refresh for Semovita and Goldenvita during the year Investment in RDCs¹ to support new products. Rural depot support for dealers expanding distribution outside main urban locations RDC Regional Distribution Centers FLOUR MILLS OF NIGERIA PLC | INVESTOR PRESENTATION FULL YEAR 2021 19

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