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Investor Presentaiton

Financial Performance Solid revenue and bottom-line performance year on year FY2021 Profit Evolution (N'bn) 197.8 (156.9) (8.5) 11.4 FY20 PAT Revenue Cost of sales OPEX Increase FMN Food and Agro-Allied Group (15.4) 1.3 1.3 (5.4) 25.7 Net op. gains Investment income Finance costs Taxation FY21 PAT Decrease Total • Strong revenue growth, largely driven by the increase in volumes (+6% compared to the previous year) • Increased focus on local content and investments in backward integration in order to strengthen the value chain, despite higher costs of sales, driven by the costs of raw materials Net operating losses primarily driven by N12.2bn exchange losses and N1.7bn hedge valuations during first HY (no negative impact in Q4) • PAT soars off the back of continued bottom-line expansion in the agro-allied and B2C segment FLOUR MILLS OF NIGERIA PLC | INVESTOR PRESENTATION FULL YEAR 2021 12
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