Investor Presentaiton

Agro Allied Segment PBT improves by N13.4bn from a break-even position last year Segment Revenue (N'bn) FY'21 FY'20 % Change Q4'21 Q4'20 % Change 10% FY21 segment volume growth Revenue 139.4 105.5 32 33.8 24.2 40 Profit Before Tax 13.9 0.5 2,667 5.1 0.4 1,044 Agro Allied PBT Trend (N'bn) (12.5) (1.0) 0.5 13.9 FY'18 FY'19 FY'20 FY'21 27x FY'21 Profit Before Tax growth 4.2% FY'21 improvement in EBITDA margin FMN Food and Agro-Allied Group • • Oil and fats business grew 14%, while pre-tax profit margin expanded by 1,100bps y-o-y as streamlining raw material aggregation process and reduction of waste lowered costs. Export sales accounted for 20% of total sales from the value chain Animal feed business sees volume growth driven by the introduction of Omega catfish feed, as well as the decentralization of the manufacturing locations through toll milling and lease arrangements Extension of blending plants and sales outlets, as well as expansion into northern and eastern markets underpin 29% volume growth in the Fertilizer business . Starch business accelerates backward integration plans with farmland in Ogun State being developed to source cassava through an aggregator in-grower scheme FLOUR MILLS OF NIGERIA PLC | INVESTOR PRESENTATION FULL YEAR 2021 25

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