KERRY GROUP – AN INTRODUCTION

25 . 02 . 14

This presentation/announcement may contain forward looking statements with projections concerning,

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.

DISCLAIMER: FORWARD LOOKING STATEMENTS

KERRY GROUP AT A GLANCE

KERRY WORLDWIDE KIF SALES BY REGION 2013

Note: * As at 21-02-2013

Ingredients & Flavours €4,327m Consumer Foods €1,601m

Ingredients & Flavours €558m Consumer Foods €129m

Consumer Foods 27%

Ingredients & Flavours 73%

Consumer Foods 19%

Ingredients & Flavours 81%

REVENUE 2013 TRADING PROFIT 2013

Americas 44%

Asia-Pacific 18% EMEA 38%

Note: sales in the Republic of Ireland were < 10% of Group revenue

Consumer Foods Sales are to UK and Ireland

€5.8BN

REVENUE

EBITDA

€720M

ENTERPRISE

VALUE*

€9BN

130 PRODUCTION

FACILITIES

24K EMPLOYEES

Manufacturing Plants

Sales Offices

19

86

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KERRY FINANCIAL PERFORMANCE 1986-2013 1

986

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Note: * before brand related intangible asset amortisation and non-trading items. From 2011, with 2004 to 2010 re-presented, computer software is treated as a cost in calculating adjusted EPS

REVENUE 1986-2013 (€M) TRADING PROFIT 1986-2013 (€M)

CAGR

+11.1%

337

5,837

CAGR

+17.8%

0.48

40.0

ADJUSTED EPS* 1986-2013 (CENT) DIVIDEND 1986-2013 (CENT)

CAGR

+13.9%

7.6

257.9

CAGR

+15.0%

14

611

STRATEGIC PLATFORM DEVELOPMENT – ACQUISITION HISTORY

2000-2013 | 148 ACQUISITIONS

2000 Savoury & Dairy

(DAIRY HERITAGE)

SAVOURY & DAIRY

53 Acquisitions

FLAVOURS

56 Acquisitions

FUNCTIONAL INGREDIENTS

& ACTIVES Emulsifiers, Hydrocolloids, Yeast, Proteins, Enzymes,

Cultures, Fermented Ingredients

CEREAL & SWEET

33 Acquisitions

DEVELOPING MARKETS

11 New Countries

BEVERAGE Beverage Flavour & Bases, Syrups & Sauces, Brewing

Ingredients

PHARMA Cell Nutrition, Excipients

1 Kerry

KERRY GROUP VISION

MARKET LEADERSHIP

TASTE GENERAL

WELLNESS & NUTRITION

DEVELOPING MARKETS

BRANDS CHANNEL

HEALTHY LIVING SNACKING

SUSTAINABILITY

INGREDIENTS & FLAVOURS CONSUMER

FOODS

1 KERRY

Note: * before brand related intangible asset amortisation and non-trading items (net of tax) | ** Assumes market growth rate of 2% to 3% p.a. and neutral currency and raw materials

ADJUSTED EPS* GROWTH +10% P.A

REVENUE GROWTH

Ingredients & Flavours 4% to 6% p.a. Consumer Foods 2% to 3% p.a. Group 3% to 5% p.a.**

MARGIN EXPANSION

Ingredients & Flavours 50 bps p.a. Consumer Foods 20 bps p.a. Group 30 bps p.a. (+ an additional 100 bps at end of Kerryconnect project)

RETURN

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

GROUP LONG TERM TARGETS (5 YEARS 2013 – 2017)

Kerry Ingredients & Flavours

develops, manufactures and

delivers innovative taste systems,

functional and nutritional

ingredients and integrated

solutions for the food, beverage

and pharmaceutical markets.

Ingredients &

Flavours

Savoury & Dairy Systems & Flavours 44%

Beverage Systems & Flavours 19%

Cereal & Sweet Systems & Flavours 18%

Pharma/Functional Ingredients 10%

Regional Ingredients 9%

INGREDIENTS & FLAVOURS – BUSINESS OVERVIEW

Americas 44%

EMEA 38%

Asia-Pacific 18%

REVENUE BY TECHNOLOGY

REVENUE BY REGION

SUPPLYING

CUSTOMERS IN

140

COUNTRIES

#1 FOR INGREDIENTS &

FLAVOURS

TASTE &

NUTRITION

UNPARALLELED

POSITIONING

Developed 76%

Developing 24%

REVENUE

€4.3BN

#1 DEVELOPING

MARKETS

(€1BN)

#1 R&D SPEND

800+ SCIENTISTS

#1 MARKET

POSITIONS

Note: where Kerry Ingredients & Flavours plays

RETAIL BRANDS

STORE BRANDS

RESTAURANTS

FUNCTIONAL INGREDIENTS & FLAVOURS

Emulsifiers

Enzymes

Cultures

Hydrocolloids

Colours

Proteins

Flavours

Pharma

INTEGRATED SOLUTIONS

Kerry is the leader in the development of a new sector

of the supply chain: supplying integrated solutions that

provide marketers with components that speed product

development and reduce manufacturing investment.

For example

Beverage that Delivers the Nutrition

Found in a Bowl of Cereal

With a foundation of rheology, nutrition & taste science,

and our cereal, proteins, flavour, taste modulators and

texturants technologies, we formulate a beverage that is

great tasting and delivers high levels of whole grains and

protein while ensuring process stability.

COMMODITIES

Dairy

Flour

Fruits

Oils

Soya

Spices

Starch

Sugar

INDUSTRY SUPPLY CHAIN – HOW KERRY ADDS VALUE

PRODUCT GROUPS PRODUCT SUB-GROUPS

DIVERSIFIED PRODUCT PORTFOLIO

SAVOURY & DAIRY

SCIENCE

CEREAL & SWEET SCIENCE

BEVERAGE SCIENCE

FUNCTIONAL INGREDIENTS

& ACTIVES

PHARMA SCIENCE

› Meat Coatings & Flavourings › Dry & Wet Dairy Ingredients › Savoury & Dairy Flavours

› Fermented Ingredients › Enzymes › Soy Ingredients

› Pharma Excipients › Cell Nutrition Proteins › Media Ingredients

› Sweet Flavours › Confections & Coated Sweets › Sweet Particulates

› Beverage Flavours & Bases › Beverage Syrups & Sauces › Natural Flavour Ingredients

› Dry & Wet Culinary Sauces › Functional Meat Systems › Emulsifiers & Texturants

› Chocolate & Compounds › Cereal Shapes, Agglomerates &

Pieces › Baked & Dough Sweet Products

› Beverage Processing Aids › Complete Beverage

Solutions

› Specialised Functional Proteins

› Dairy Proteins

KERRY GROUP – WORLDWIDE LOCATIONS

Manufacturing Plants

Sales Offices

* As at 31/12/2012

MANUFACTURING FOOTPRINT

› ARGENTINA

› AUSTRALIA

› BELARUS

› BRAZIL

› CANADA

› CHINA

› COSTA RICA

› DENMARK

› FRANCE

› GERMANY

› INDIA

› INDONESIA

› IRELAND

› ITALY

› MALAYSIA

› MEXICO

› NETHERLANDS

› NEW ZEALAND

› PHILIPPINES

› POLAND

› UK

› USA

› SOUTH AFRICA

› THAILAND

KERRY’S INNOVATION PLATFORMS

DEVELOPING MARKETS

GENERAL WELLNESS & NUTRITION

TASTE

INGREDIENTS & FLAVOURS GROWTH STRATEGIES

ORGANIC AND ACQUISITIVE GROWTH

Filling the nation’s fridges with simply brilliant food. We are one of the leading suppliers of added-value branded and customer branded chilled food products.

Consumer

Foods

CONSUMER FOODS OVERVIEW

CONSUMER FOODS SIGNIFICANT CUSTOMERS

REGION TECHNOLOGY CUSTOMERS

GB

Ireland

Rest of Europe

Meat & Savoury Provisions

Meal Solutions

Dairy Products

Brand

Private Label

› Leading supplier of Chilled Foods across Ireland, UK and selected

European markets.

› Focused portfolio of strong brands with No. 1 positions

› Our key brands include Richmond, Denny, Dairygold, Cheestrings,

Low Low, Walls and Mattessons.

› Operating across all retail channels, Multiple Grocers,

Convenience and Online.

› Supplying all the key supermarket chains including in the UK,

Tesco, Sainsbury’s, Asda and Morrisons, in Ireland, Tesco,

Musgraves and Dunnes and in Europe, Carrefour, Rewe, Auchan

and LeClerc

DIVERSIFIED PRODUCT PORTFOLIO

GB Cheese

GB Yellow Fats

Ireland

GB Cooked Meats

GB Pastry

GB Rasher

GB Sausage

Ireland

GB Chilled Ready Meals

GB Ready to Cook

GB Frozen Ready Meals

Ireland

SEGMENT MARKETS KEY PRODUCT MARKET POSITION

MEAT & SAVOURY PROVISIONS

€6.7BN

DAIRY PRODUCTS

€4.9BN

MEAL SOLUTIONS

€3.7BN

› #1&2 breakfast product brands in

Ireland

› #1&2 cooked meat brands in Ireland

› #1&2 sausage brands in GB

› #2 (fastest growing) meat snacking

brand in GB

› #2 customer brand pastry in GB

› Largest branded dairy supplier in

Ireland

› #1 spreads brand in Ireland

› #1 cheese brand in Ireland

› #1 kids cheese snack in GB

› #1 customer brand dairy spreads

and RTE cheese in GB

› #1 GB customer brand supplier of

› – chilled ready meals

› – frozen ready meals

› – ready to cook

BRAND PRIORITIES

CORPORATE PRIORITIES LOCAL BRANDS

OTHERS

INCREASED MARKET POLARISATION

STRUCTURE CHANNELS

CONVENIENCE

HEALTHY & NUTRITIONAL

CONSUMER FOODS’ MARKETS – ‘A NEW REALITY’

ECONOMY IMPACTING SHOPPING BEHAVIOURS AND RETAILER CHOICE

Smaller formats

Growth of discounters

Growth of online and

mobile shopping

‘Click and collect’

Expanding needs around convenience

Product versatility

Snacking ‘on-the-go’ offerings

MORE RESOURCEFUL CONSUMER PRIORITISING SPEND

Taste +

Quality

Nutritional benefits

Clarity of health

information

Trusted Brands

‘Little & Often’

35%-40% sold on

promotion

Own label growth

KERRY FOODS GROWTH STRATEGY

› Portfolio investment for today’s consumer

› Aligned to requirements for

› Reconfigured Kerry Foods Model

› Our brands: Kerry Foods leading brands are big and growing

› Snacking lines: innovative meat and dairy snacking lines

› Healthy living: healthy products consumed with confidence

› Channel alignment: repositioned for today’s shopper requirements (including online)

› Quality business portfolio aligned to Group growth objectives

› Non core businesses held for sale

Convenience Snacking

‘on-the-go’

Healthy

Lifestyles

Trusted

Brands

Home Cooking Needs

Strategic

Initiatives

CAPITAL FOR GROWTH

OPERATING MODELS BUSINESS STRATEGIES

Kerry Ingredients & Flavours

‘Go-to-market Strategy’

Kerry Foods ‘Go-to-market Strategy’

KERRYCONNECT

‘Enabling better business’

Standardised ways of working

Common data

Integrated ICT system

Driving market leadership and global

alignment

Optimising scale and efficiency benefits

Building talent for a global organisation

CAPITAL FOR GROWTH

GENERAL WELLNESS

& NUTRITION DEVELOPING

MARKETS TASTE CAPABILITY

GLOBALLY TECHNOLOGY

DEVELOPMENT KERRYCONNECT

CAPITAL EXPENDITURE

Performance

REVENUE AND ADJUSTED EPS* 1986-2013

337 370 504 710 742

959 1,050 1,117 1,121 1,523 1,566 1,707

2,200 2,456 2,622

3,003

3,755 3,693 4,129

4,430 4,646 4,788 4,791

4,521 4,960

5,302

5,848 5,837

0

1000

2000

3000

4000

5000

6000

7000

1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

7.6 8.4 12.7 16.3 17.6 21.1 23.0 25.9 28.9 35.8 38.7 46.7 57.4

68.0 79.2

87.9 101.8

112.1 122.3

130.8 132.8 142.4

151.8 163.9

192.1

213.4

234.0

257.9

0.0

50.0

100.0

150.0

200.0

250.0

300.0

1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012** 2013

Note: * before brand related intangible asset amortisation and non-trading items (net of tax) | ** Restated to reflect the adoption of IAS 19 (2011) Employee Benefits

REVENUE 1986-2013 (€M)

ADJUSTED EPS* 1986-2013 (CENT)

REVENUES AND PROFITABILITY

11.3% 11.8% 11.9% 12.0%

12.9%

5.0%200

250

300

350

400

450

500

550

600

2009 2010 2011 2012* 2013

Trading Profit Trading Margin

4.1 4.4 4.6 4.8 4.8

4.5 5.0

5.3 5.8 5.8

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

2004 2005 2006 2007 2008 2009 2010 2011 2012* 2013

356 380 384 401 409 422 470

501 559

611

0

100

200

300

400

500

600

700

2004 2005 2006 2007 2008 2009 2010 2011 2012* 2013

7.7% 8.1% 7.8% 7.7% 8.0%

0.5%50

70

90

110

130

150

2009 2010 2011 2012* 2013

Trading Profit Trading Margin

Note: * 2012 restated to reflect the adoption of IAS 19 (2011) ‘Employee Benefits’

GROUP REVENUE (€BN) GROUP TRADING PROFIT (€M)

INGREDIENTS & FLAVOURS – TRADING PROFIT (€M) CONSUMER FOODS – TRADING PROFIT (€M)

10 YEAR

CAGR

4.7%

10 YEAR

CAGR

7.1%

STRONG EARNINGS GROWTH WHILE INCREASING RETURN ON CAPITAL EMPLOYED

50.0

75.0

100.0

125.0

150.0

175.0

200.0

225.0

250.0

275.0

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

12.0%

13.0%

14.0%

15.0%

2004 2005 2006 2007 2008 2009 2010 2011 2012** 2013

EPS*

CEN

T

RO

AC

E %

EPS* ROACE*

Note: * before brand related intangible asset amortisation and non-trading items (net of tax) | ** 2012 restated to reflect the adoption of IAS 19 (2011) ‘Employee Benefits’

CASH FLOW, EPS & DIVIDENDS

519

618 601

673 720

0

100

200

300

400

500

600

700

800

2009 2010 2011 2012** 2013

367

305 279

344

412

0

50

100

150

200

250

300

350

400

450

2009 2010 2011 2012** 2013

25.0

28.8 32.2

35.8

40.0

0.0

10.0

20.0

30.0

40.0

50.0

2009 2010 2011 2012 2013

Note: * before brand related intangible asset amortisation and non-trading items (net of tax) | ** 2012 restated to reflect the adoption of IAS 19 (2011) ‘Employee Benefits’ and Free Cash Flow also restated for the change to movement in average working capital

0

40

80

120

160

200

240

280

2009 2010 2011 2012** 2013

+10.2%

+8.0%

+17.2%

+11.1% +11.3%

+11.7%

+11.1%

+15.2% +11.8%

+11.2%

EBITDA (€M) FREE CASH FLOW (€M)

EPS* (CENT) DIVIDENDS (CENT)

Sustainability

ENVIRONMENT ECONOMIC

SOCIAL

Bearable Equitable

Sustainable

Viable

‘SECURING SUSTAINABLE GROWTH’ EMBEDDING SUSTAINABILITY IN OUR BUSINESS

Kerry’s sustainability plan represents a journey of continuous improvement

– an ongoing process and strategy to secure sustainable growth

It offers Kerry Group a framework through which to ensure the long-

term development of the organisation by building competitiveness,

while at the same time enhancing the quality of life and protecting

our natural resources.

› Integrated in 1 Kerry strategies and operational activities

› Directed and governed by our Kerry Sustainability Council

› Groupwide time-bound, quantified targets established to measure progress

ENVIRONMENT SUSTAINABILITY

MARKET SUSTAINABILITY

WORKPLACE SUSTAINABILITY

COMMUNITY SUSTAINABILITY

SECURING SUSTAINABLE GROWTH

20

14

Go

als

Thre

e Ye

ar S

trat

egic

Pla

n

Asp

irat

ion

s 1 KERRY SUSTAINABILITY PROGRAMME 2012-2015

ENVIRONMENT MARKETPLACE WORKPLACE COMMUNITY

CLIMATE EFFICIENCY WASTE

Continue to improve our environmental

stewardship

Drive efficiency in resource use (energy &

water)

Exceed in efforts to reduce waste and

increase recycling

Manage climate change, drive efficiency in resource use and reduce waste

Develop long and short term sustainability gains in operations

Deliver on our brand sustainability strategy plan

Achieve our annual goal for ISO 14001 approvals

Achieve an overall 12% reduction in greenhouse gas emissions by 2014 (compared to baseline year 2009)

Reduce water use by 4% by 2014 (compared to baseline year 2011)

Reduce waste by 6.5% by 2014 (compared to baseline year 2011)

Implement our Origin Green Programme in Ireland

QUALITY SOURCING NUTRITION

Through our leading innovation and product development expertise, we will continue to enhance the nutritional value of our ingredients and continue to assist our valued customers

Make quality a distinguishing capability

Ensure responsible sourcing practices

Ensure 75% of strategic supply partners are formalised as members of SEDEX

Leverage Kerry’s ingredients & flavours technology platforms and applications expertise to improve nutritional values of

food and beverage products in partnership with our customers

Embed positive nutritional values in product development and innovation programmes aligned to customer

requirements

Achieve Global Food Safety Initiative (GFSI)

certification of all Kerry manufacturing sites

Partner with our customers in sustainable

sourcing of strategic ingredients

Implementation of 1 Kerry Global Quality Management System (GQMS)

Certify all plants against an accredited Global Food Safety Initiative (GFSI) safety standard

Achieve our annual targets for SEDEX membership

Achieve 100% sourcing of sustainable palm oil for all Kerry Foods branded products

Implement our Origin Green Programme in Ireland

PEOPLE ETHICS

Continue to conduct our business in a

responsible and ethical manner and be an employer of choice

Through our Code of Conduct we will continue to provide a safe and healthy environment in which to work

Drive ethical business practices and compliance to Kerry Code of Conduct

Ensure wages are competitive and all labour standards are fair, equitable and meet or exceed local guidelines

Embrace diversity across our workforce, our customer base and the communities

we serve

Promote Kerry employee brand values

Formalise policies in line with Human

Rights Conventions

Implement 1 Kerry Global Health & Safety

Management Systems

Achieve a 5% reduction in the Accident

Incident Rate (AIR)

Implement our Origin Green Programme

in Ireland

SOCIAL ECONOMIC

Be a responsible neighbour by driving and

supporting outreach initiatives in our local communities

Continue to partner with international programme to alleviate world hunger in developing regions

Assist and actively engage in development programmes in our communities to improve – health and nutrition,

entrepreneurship, amenity/community development projects, education, sport and the arts

Assist Concern Worldwide in implementing the ‘RAIN’ (Realigning

Agriculture to Improve Nutrition) project in the developing world

Formalise community engagement programmes in all our communities

Share community support best practices

Support employee philanthropy

programmes

Implement our Origin Green Programme

in Ireland

Appendix

SHAREHOLDER ANALYSIS

UK 17%

North America 17%

Continental Europe / Rest of World 16%

Ireland 4%

Retail 32%

Kerry Co-operative 14%

INSTITUTIONAL ANALYSIS

Institutions 54%

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