Disclaimer: Forward Looking Statements

This presentation/announcement may contain forward looking statements with projections regarding, among other

things, the Company’s strategy, revenues, earnings, trading profit, trading margin, finance costs, tax rate, capital

expenditure, dividends, cash flow, net debt or other financial measures, the impact of foreign exchange fluctuations,

the impact of raw material fluctuations and other competitive pressures. These and other forward looking

statements reflect management expectations based on currently available data.

However actual results will be influenced by, among other things, macro-economic conditions, food industry supply

and demand issues, foreign exchange fluctuations, raw material and commodity fluctuations, the successful

acquisition and integration of new businesses, the successful execution of business transformation programmes and

other, as of today, unknown factors and therefore actual results may differ materially from these projections.

These forward looking statements speak only as of the date they were made and the Company undertakes no

obligation to publicly update any forward looking statement, whether as a result of new information, future events

or otherwise.

2

H1 2015 Interim Management Report

Stan McCarthy

CEO

Brian Mehigan

CFO

Review of

Business

Financial

Review

Outlook &

Future

Prospects

+2.7%

Volume

+40bps

Group Trading Margin

H1 2015: Results Highlights

› Adjusted EPS* increased 8.1% to 124.5 cent

› Group revenue at €3.0 billion reflecting 2.7% volume growth

› Group trading margin up 40bps

› Ingredients & Flavours +40bps

› Consumer Foods +20bps

› ROACE* 14.1% (H1 2014: 14.3%)

› Free cash flow €192m

› Interim dividend increased by 11.1% to 15.0 cent

+8.1%

Adjusted EPS*

+14.1%

ROACE*

+11.1%

Interim Dividend

Note: * before brand related intangible asset amortisation and non-trading items (net of related tax) 4

H1 2015 Overview

› Changing marketplace, ‘New Consumer’ trends

› Changing retail and foodservice dynamics

› Increased volatility, impact of currency movements

› Developed markets: broadly stable but repositioning for evolving market conditions

› Developing markets: geopolitical issues persist but zones more stabilised

› Kerry Strategic growth platforms well positioned to respond to customer requirements

› Innovation & Technology network providing speed to market

› Solid innovation platform through ‘clean label’, ‘free from’ nutritional & wellness offerings

› Technology development – organic and acquisition investment

› Continued growth in Foodservice channel, c-stores and etail

› Kerry Foods’ repositioned portfolio performing well

5

Revenue & Margin Overview

€3,028m

Volume: +3.0%

Margin: +40bps

€2,318m €749m

GROUP

INGREDIENTS & FLAVOURS CONSUMER FOODS

Volume: +2.7%

Margin: +40bps

Volume: +1.9%

Margin: +20bps

6

Business Review – Ingredients & Flavours

› Volume +3.0% and pricing (2.8%)

› Trading profit +12.3%

› Margin growth of 40bps

› Taste & Nutrition platforms sustain business development

› Solid performance in American markets

› Acquisition of Insight Beverages, KFI Savory and Baltimore Spice

› EMEA developed markets stabilised – encouraging innovation pipeline

› EMEA developing markets – continued market development despite geopolitical issues

› Acquisition of IOI Loders Croklaan and PST

› Slowdown in Asia economic growth but good Kerry business development

› Strong growth in nutritional & wellness applications

› Sale of Pinnacle lifestyle bakery in Australia in May

H1 2015 GROWTH

Revenue €2,318m +3.0%*

Trading profit €281m +12.3%

Trading margin 12.1% +40bps

Note: * volume growth 7

Ingredients & Flavours Revenue Analysis

Americas +3.3%

EMEA +0.7%

Asia-Pacific +7.2%

Total +3.0%

REVENUE BY TECHNOLOGY* H1 2015 YEAR ON YEAR VOLUME GROWTH

Savoury & Dairy 41%

Beverage 20%

Cereal & Sweet 17%

Functional Ingredients | Pharma 14%

Regional Technologies 8%

* As at 31 December 2014

Taste &Nutrition

8

Business Review – Consumer Foods

› Volume +1.9% and pricing (2.6%)

› Margin growth of 20bps

› Portfolio repositioning to-date delivering against changing consumer environment

› MBO of ‘Direct-to-Store’ completed in H1

› Acquisition of Rollover Ltd (UK) – extending Kerry Foods’ ‘hot-to-go’ offering

› Strong growth in snacking and meal solutions

› Good growth in chilled meals and recovery in frozen

› Mattessons Fridge Raiders +8% YOY

› Promotional activity impacting UK sausage category

› Spreads decline in line with category performance

› Denny Gold Medal performing well in Ireland

› Successful launch of ‘Fire & Smoke’ range

› Charleville solid performance in cheese

› Cheestrings – continued growth in France, Germany and Poland

› Outperforming growth rates in etail

H1 2015 GROWTH

Revenue €749m +1.9%*

Trading profit €60m (3.9%)

Trading margin 8.0% +20bps

Note: * volume growth 9

Brian Mehigan

CFO

Financial

Highlights 124.5 cent

ADJUSTED EPS

€300m

TRADING PROFIT

€3,028m

REVENUE

Solid Financial Performance in a Changing Market

› Changing consumer and economic environment

› Input cost deflation

› Financial market volatility

› 1 Kerry investment

› Portfolio repositioning

11

H1 2015 Financial Highlights

Note:* before brand related intangible asset amortisation and non-trading items (net of related tax)

+2.7% volume growth €3,028mRevenue

+9.0%€300mTrading profit

+40bps9.9%Trading margin

+8.1%124.5 centAdjusted EPS*

+22.0%135.2 centBasic EPS

Strong cash generation

€192mFree cash flow

12

Revenue Analysis

€2,893m

H1 2014

€3,028m

H1 2015

8.4%

CURRENCY

(3.8%)

DISPOSAL/ ACQUISITION

(2.7%)

PRICE

2.7%

VOLUME

13

4.7%

GROWTH YOY

€3,028m

€2,318m

€749m

0

500

1,000

1,500

2,000

2,500

3,000

Group Ingredients & Flavours Consumer Foods

Revenue – Volume Growth Ahead of Markets

Volume

Price

(2.7%)

+2.7%

(2.8%)

+3.0%

(2.6%)

+1.9%

14

Continued Trading Margin Expansion

€300m€281m

€60m

0

50

100

150

200

250

300

350

Group Ingredients & Flavours Consumer Foods

Margin Progression

Trading Margin %

9.9%

+40bps

12.1%

+40 bps

8.0%

+20bps

15

Trading Margin Progression H1 2015 – Group

Margin 9.5% +0.4% +0.2% +0.0% (0.3%) +0.1% +9.9%

150

200

250

300

350

400

H1 2014 Operating leverage /efficiencies

Net price Currency Kerryconnect /pension

Disposals /acquisitions

H1 2015

16

Free Cash Flow (€m)

H1 2015 H1 2014

Trading profit 300 275

Depreciation (net) 61 52

Movement in average working capital 9 (73)

Pension contributions paid less pension expense (24) (21)

Finance costs (22) (21)

Taxation (13) (12)

Free cash flow before expenditure 311 200

Capital expenditure (net) (119) (98)

Free cash flow 192 102

17

Financial Ratios

BANKING RATIOS H1 2015 H1 2014

Net debt: EBITDA* 1.6x 1.5x

EBITDA: net interest* 19.4x 13.3x

RETURN RATIOS

ROAE** 18.1% 18.2%

ROACE** 14.1% 14.3%

CFROI 10.9% 10.7%

Note: * calculated in accordance with lender covenants

** before brand related intangible asset amortisation and non-trading items (net of related tax)18

Maturity Profile of Net Debt (€m)

H1 2015 H1 2014

Weighted average maturity years 6.1 5.8

New 5 year €1.1bn revolving credit facility now in place – extending debt maturity profile

(178)

340

151

479

85

654

52

(240)

(140)

(40)

60

160

260

360

460

560

660

2015 2015 2016 2017 2020 2022 2023 2025

19

Acquisition and Disposal Update

ACQUISITIONS COMPLETED

Insight Beverages

KFI Savory

Others

Rollover Ltd

Taste Nutrition Developing Markets Consumer Foods

ACQUISITIONS SIGNED

PST

Baltimore Spice

Taste Nutrition Developing Markets Consumer Foods

20

DISPOSALS COMPLETED

Pinnacle lifestyle bakery

Direct-to-Store business

Ingredients & Flavours Consumer Foods

FINANCE

COSTS

€36.3m – an increase of €4.4m due primarily to exchange rate and

pension finance

Other Financial Matters

CURRENCY Annual impact in line with previous guidance

PENSIONNet pension deficit €361m – cost up significantly and actions being

taken to address

KERRYCONNECTDeployment on track in EMEA and Asia-Pacific. Incremental costs

year-on-year €11m as previously guided

SCOPE Dilution from disposals partially offset by acquisitions in H2

21

Kerry Investor Day 2015

Kerry Investor Day 2015Kerry Global Technology and Innovation Centre, Naas

15 October 2015

Stan McCarthy

CEO

Outlook and

Future Prospects

The Changing Marketplace – ‘New Consumer’

The ‘New Consumer’ consumption and shopping trends present challenges for

traditional food retailers and CPG companies

› Demographics

› Attitude

› Pace of life

› Awareness

24

› Shopping for immediate satisfaction – 25% of all meals consumed by millennialsinclude items purchased the same day

› Use of mobile technology

› Seeking total value, freshness, experience

› Creating, customising solutions

› Active co-creators of content, products and experiences

› Looking at back-of-pack in detail

› Building ‘Trust Chains’

The Changing Marketplace – New Shopper Behaviour

› Same weekly shopping list

› Lowest price, multi buys

› Shopping for solutions

› Passive recipients of brand communications

› On pack marketing/messaging

25

The Changing Marketplace – Foodservice/Retail Trends

Better For Youhealthier options

Fresh & Cleanauthentic ingredients,

‘clean label’

Customisationmaking every experience

personal, fun and interactive

Snackingthe new meal

Premiumisationthe growth of handcrafted

and artisanal products

Indulgencedessert inspired everything

26

The Changing Marketplace – Development Driven by

Foodservice Trends

The foodservice channel continues to grow and steal consumer share from retail.

Growth broadening from the QSR sector to fast casual, c-stores and supermarket

foodservice segments

› Global chain / QSR sector diversifying menu offerings

› Street / brand sector suppliers achieve solid growth

› LTOs play a significant role in driving restaurant traffic

› Local / regional cuisines are outperforming

› Growth of digital marketing, engagement and e-commerce

› Requirement for innovative, customised solutions

27

Kerry Market Positioning

› Market leading Taste & Nutrition platforms

› Authentic Taste portfolio

› Depth of Nutrition & General Wellness capability

› Global Technology Application and Culinary leadership

› Speed of innovation

› Accelerating growth in Developing Markets

› Expanding global Foodservice portfolio and growth platforms

› Global and regional customer alliances

28

Key Nutrition Market Segments Linked to Life-stages

Rapid growth & development

Learning & development. Physical and emotional maturing

Lifestyle factors, maternal health

Maintenance/prevention

Specific health issues arise/manage health issues

e.g. EPA/DHA, Calcium, Vit A,C,D Protein Iron

e.g. EPA/DHA, Calcium, Vit A,C,D Protein Iron, Wholegrain

Probiotics, superfoods, protein, natural ingredients

e.g. wholegrains, probiotics, plant sterols, protein, calcium

e.g. protein, calcium, vitamin D, etc.

Growth & development, brain,bone & digestive health, food intolerance and allergies

Growth & development, brain,bone, digestive & immune health, food intolerance and allergies

General wellness, weight management, performance, nutrition, maternal nutrition

Weight management & diabetes, bone, cognitive, heart, immune, muscle & digestive health

Digestive, bone, heart, immune & cognitive health, malnutrition, weight management & diabetes, critical care

Demographic

Health Focus

Infant &

Toddlers

Children &

Adolescents

Early

Adulthood

Healthy

AgeingSeniors

Ingredients

Examples

Key

Nutritional Requirements

29

Kerry Nutrition & Wellness – Food and Beverage Focus

‘FREE FROM’Category

Description

Examples

‘BETTER-FOR-YOU’

‘GOOD-FOR-YOU’

‘TAILORED-FOR-YOU’

Avoidance Balance & Moderation Positive Nutrition Targeted Nutrition

Food Intolerance

Low/No/Reduced Lactose

Gluten Free

Clean/Cleaner Label

Protein FortificationVegetable | Dairy

Carbohydrate QualityFibre – Prebiotics | Wholegrains

Healthy LipidsTrans & PHO Replacement |

Healthy Oils

Micronutrient FortificationMinerals Enrichment | Vitamins

Enrichment

Naturally Good For You

‘Free-from’ or ‘zero’ variants of products. For consumers who seek to

eliminate particular nutrients or food types due to health concerns

Products with ‘diet’, ‘low’ or ‘less’ tags. For

the high majority of consumers who believe

that unhealthy indulgences need to be

moderated for a balanced diet and can be replaced with a guilt free

option

Functional products, ‘superfoods’ and natural

foods. For self-accountable consumers

who believe that diet and nutrition is an important route to

wellness

For individuals within the broader population who have specific nutritional

needs based on their need-state and life-stage.

E.g. infants, athletes, seniors and individuals with specific medical

conditions such as diabetes

Reduced Sugar

Reduced Salt

Reduced Fat

Balanced Choice

Infant & Toddler Nutrition

Performance Nutrition

Healthcare Nutrition

(including all need-states)

Weight Management

30

Kerry Global Foodservice Strategy

Kerry Focus:

Foodservice channel including C-stores in developed and developing markets. Global, Regional & Local cuisines and customised solutions

› Continue to drive growth in

Foodservice Channel through

Chain Menu innovation and

brand expansion

› Leverage all Kerry

technologies and solutions

Dual Strategy

Global Foodservice Chain Strategy

Global Foodservice Brand Strategy

31

Consumer Foods: Market Dynamics

Kerry Foods Positioning

› Recovery is firmly on the horizon

› Unemployment falling

› Average earnings growth vs cost of living

› Consumer confidence on the rise

› More channels, more fragmented, more complex

› Growth of discounters

› Growth of online

UK & Ireland

› Repositioned portfolio

› Brand leadership

› Diversified channel and customer base

› Outperforming etail growth rates

› Focus on growth categories

› Snacking, food-to-go, meal solutions

› Insulated by technology

› Growing international presence

Kerry Foods Today

32

2015 Outlook: Summary

› Focused and well positioned for changing marketplace

› Taste, Nutrition & Wellness platforms aligned to retail and foodservice dynamics

› Repositioned Kerry foods portfolio aligned to snacking, meal solutions and channel diversification

› Underpinned by Kerry Technology & Innovation Network

› Speed to market

› Solid innovation

› Kerry ‘Chain’ and Brand strategies delivering good growth in Foodservice

› Solid opportunities for growth in developing markets

› Strong balance sheet and cash generation

› Busy acquisition pipeline

Based on Group year-to-date performance, current exchange rates and

business momentum, we are increasing our full year guidance. We expect to

achieve 6% to 9% growth in adjusted EPS* in 2015

Note: * before brand related intangible asset amortisation and non-trading items (net of related tax) 33

Questions

and Answers

Additional

Information

Business Review – Ingredients & Flavours Americas

› Volumes +3.3%, pricing (2.0%)

› Solid Kerry performance – outperforming industry growth rates

› Taste technologies delivering innovation in retail and foodservice channels

› Progress through ‘clean label’ technology in meat and bakery sectors

› Brazil impacted by inflationary pressures

› Good growth in savoury snacks in Mexico and Central America

› Seasonal launches in ice cream offset decline in sweet sector

› Continued growth in Beverage Flavours and Systems

› Good performance in Kerry brands and foodservice channel

› Acquisition of Insight Beverages, KFI Savory and Baltimore Spice

H1 2015 GROWTH

Revenue €1,080m +3.3%*

Note:* volume growth 36

Business Review – Ingredients & Flavours EMEA

› Volumes +0.7%, pricing (3.8%)

› Stabilised overall market but consumer spend constrained

› Geopolitical issues persist in developing zones

› Encouraging innovation pipeline assisted by Global Centre in Ireland

› Improved performance in Sub-Saharan Africa and MENAT

› Good Kerry development in Russia despite impact of trade sanctions

› Beverage Systems & Flavours maintain solid growth

› Growth through dairy systems in foodservice

› Continued growth in nutritional applications due to investment programme in Ireland

› Primary dairy market returns significantly reduced

› Acquisition of IOI Loders Croklaan and PST Pastacilik Gida

H1 2015 GROWTH

Revenue €789m +0.7%*

Note:* volume growth 37

Business Review – Ingredients & Flavours Asia-Pacific

› Volumes +7.2%, pricing (2.4%)

› Good Kerry market development despite reported lower level of economic activity

› Solid requirement for innovation – particularly through nutritional and wellness applications

› Growth of e-commerce in Chinese infant nutrition sector

› Dairy Systems & Flavours delivering in Indonesia, the Philippines, China and Vietnam

› Strong growth in foodservice channel – premium sauces and beverage systems

› Foodservice brands extended to new territories

› Excellent progress in India through beverage flavours, dairy flavours, emulsifiers, texturants and meat systems

› Australia and New Zealand impacted by industry competitive issues

› Sale of Pinnacle lifestyle bakery in Australia completed in May

H1 2015 GROWTH

Revenue €414m +7.2%*

Note:* volume growth 38

Revenue Growth Components H1 2015

VOLUMES PRICETRADING

CURRENCYLIKE-FOR-

LIKEREPORTINGCURRENCY

DISPS/ACQS

TOTAL

Ingredients& Flavours 3.0% (2.8%) 0.0% 0.2% 8.8% (0.4%) 8.6%

ConsumerFoods 1.9% (2.6%) 0.2% (0.5%) 6.7% (12.6%) (6.4%)

Group 2.7% (2.7%) 0.1% 0.1% 8.4% (3.8%) 4.7%

39

Trading Margin by Business

H1 2015 H1 2014

TRADING TRADING FY 2014

REVENUE PROFIT REVENUE PROFIT MARGIN

€M €M % €M €M % %

Ingredients & Flavours 2,318 281 12.1% 2,133 251 11.7% 13.7%

Consumer Foods 749 60 8.0% 801 62 7.8% 8.3%

Eliminations/unallocated (39) (41) – (41) (38) – –

Group 3,028 300 9.9% 2,893 275 9.5% 11.1%

40

EPS Reconciliation

H1 2014 H1 2015 GROWTH

€ CENT € CENT %

110.8 Basic EPS 135.2 22.0%

4.3 Brand related intangible asset amortisation 4.8

0.1 Non-trading items (net of related tax) (15.5)

115.2 Adjusted EPS* 124.5 +8.1%

Note:* before brand related intangible asset amortisation and non-trading items (net of related tax) 41

Net Debt (€m) as at 30 June 2015

@ FLOATING @ FIXED

DEBT RATES RATES

Euro 598 293 305

Sterling – – –

US Dollar 844 531 313

Other 13 13 –

Gross debt 1,455 837 618

Cash (178) (178) –

Net Debt 1,277 659 618

Gross Debt 100% 58% 42%

Net Debt 100% 52% 48%

Weighted average period for which rate is fixed: 6.1 years

42

Currency Basket – Tailwind to Soften in H2

H1 2015 June m/e

2015

2014

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

43

Free Cash Flow of €1.6bn Over 5 Years

2014 2013 2012* 2011 2010

€M €M €M €M €M

Trading profit 636 611 559 501 470

Depreciation (net) and impairment 104 109 114 101 148

Movement in working capital (59) (9) (41) (4) (21)

Pension contributions paid less pension expense (48) (36) (30) (34) (41)

Capital expenditure (net) (257) (177) (156) (162) (139)

Finance costs (42) (50) (49) (47) (58)

Taxation (31) (36) (53) (76) (54)

Free cash flow 303 412 344 279 305

Note: * 2012 restated due to adoption of IAS 19 (2011) ‘Employee Benefits’ and movement on working capital calculated on an average basis for 2012 and 2013

44

Group Long Term Targets (5 Years 2013-2017)

Return

ROACE* 12%+ CFROI 12%+ ROAE*15%+

Adjusted EPS* Growth +10% p.a. by

VOLUME GROWTH

Ingredients & Flavours 4% to 6% p.a.

Consumer Foods 2% to 3% p.a.

Group 3% to 5% p.a.

(assumes market growth rate of 2% to 3% p.a.)**

MARGIN EXPANSION

Ingredients & Flavours 50bps p.a.

Consumer Foods 20bps p.a.

Group 30bps p.a.

(+ an additional 100 bps at end of Kerryconnect project)

Note:* before brand related intangible asset amortisation and non-trading items (net of related tax)

** assumes neutral currency and raw materials45

Shareholder Analysis

Ireland 2%Continental Europe |Rest of World 15%

Shares in issue at 30 June 2015: 175,875,719

North America 20%

UK 18%

Kerry Co-operative 14%

Retail 31%

46