1/22 TOP GLOVE CORPORATION BHD

Macquarie ASEAN Virtual Conference Date: 26th August 2021, Thursday

The World’s Largest Manufacturer of Nitrile Gloves, Natural Rubber Gloves and Surgical Gloves

Bursa : 7113 SGX : BVA Reuters : TPGC.KL Bloomberg : TOPG MK ADR United States TGLVY 2/22 TOP GLOVE BUSINESS ETHICS CLAP Thumbs Up, Ready, 1 2 3

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Initiated By: Tan Sri Dr. Lim Wee Chai @ 17/07/2017 Revised By: Ng Kai Yee @ 18/05/2021 Verified By: Melissa Cheoh @ 18/05/2021 3/22 TOP GLOVE 5 HEALTHY WELLS CLAP Thumbs Up, Ready, 1 2 3 TOP GLOVE CLEAN WELL EAT WELL WORK WELL EXERCISE WELL SLEEP WELL Claps, 2x 3x 2x

Initiated By: Tan Sri Dr Lim Wee Chai @ 18/05/2021 Prepared By: Andy Ting @ 18/05/2021 HEALTHY! HEALTHY! HEALTHY! Verified By: Melissa Cheoh @ 18/05/2021 4/22 Top Glove Corporation Bhd. (“Top Glove”) at a glance

The World’s Largest Manufacturer of Gloves

The World largest Current market 9MFY2021 manufacturer of capitalisation(1) of Revenue RM14.3bil, Nitrile, Natural Rubber RM 30.10 bil, USD3.5bil and Surgical gloves USD 7.12 bil PAT RM7.4bil, USD1.8bil

100 billion gloves pa Over 1,600 Over 22,000 48 factories customers employees 812 production lines across 195 (As at August 2021) countries

Source: Bloomberg Note: (1) Market capitalisation as at 23 August 2021 5/22 From Humble Origins to Global Leader 1994 2002 2007 2013 2017 2019 2021 . First . Commenced . Revenue Established . Revenue over . Launched . 9MFY21 PAT of overseas operations in over RM1 bil first dedicated RM3 bil BioGreen RM7.4 bil foray and . Acquisition Group R&D . Commenced Biodegradable exceeded past established a . Transferred to of a majority Centre to condom Gloves 20 years PAT marketing the Main stake in drive business in . Implemented . Highest arm in the Board of KLSE Medi-Flex innovation July 2018 dividend Execution System USA declared in (MES) and 9MFY21 of Advanced Auto Packing Machine RM4.8 bil

. Started as . Commenced . The World . Acquired a . Secondary . Revenue over RM4 bil . The World a local operations in Largest marketing listing on . Implementation of Largest Artificial Intelligence business Manufacturer arm in Singapore (AI) Empowered Vision Manufacturer enterprise . Listed on the of Natural Germany to Stock Exchange Inspection System of Nitrile Gloves Second Board of Rubber extend sales (“SGX”) . Acquisition of Aspion, . Commenced Kuala Lumpur Gloves in Europe Eastern Press, operations in Duramedical Stock Exchange . The World Largest (“KLSE”) Manufacturer of Surgical Gloves 1991 2001 2004 2011 2016 2018 2020 6/22 Increasing Global Glove Demand

Steady growth in global demand for rubber gloves

+14% Driven by strong market fundamentals across geographies: In billion pieces 570 +17% 1) As a protective barrier for medical staff, gloves are an 501 indispensable item in the healthcare sector, with +20% increasing customer awareness in developing markets 430 +22% 2) Increasing hygiene standards and healthcare awareness 357 a) Non-medical sector in developed countries b) Medical sector in developing countries 293 272 3) A growing ageing population 238 213 a) With the elderly being more susceptible to higher 202 risk diseases 4) Progressively stringent health regulations a) Healthcare reforms in US and China b) Healthcare regulations: OSHA in the US, EU-OSHA in Europe, SESI in 5) Emergence of new health threats CY2015 CY2016 CY2017 CY2018 CY2019 CY2020 CY2021F CY2022F CY2023F a) COVID-19, A(H1N1), SARS, bird flu, ebola, bio- Source: Frost and Sullivan, August 2021 terrorism, Anthrax 7/22 Healthcare Spending Will Continue to Increase in Emerging Market Strong growth opportunity in developing countries on the back of large population but current low glove usage Glove per Capita Consumption in 2020, Pieces Population by Region in 2020, ‘mil People High glove usage in Low glove usage in Asia and Pacific developed countries developing countries 4,346 300 Africa 1,307 [1] 208 [1] Southeast Asia 180 663 133 Latin America and the Caribbean 637 High Population in Middle East 247 developing countries 9 7 6 Europe 743 United Germany United Japan China India Indonesia States Kingdom North America 500 Population in developed countries Source: Frost and Sullivan, August 2021 [1] Germany and United Kingdom refer to 2019 data Source: Frost and Sullivan, August 2021 Distribution Across 195 Countries: 8/22 % of 9MFY21 Sales Volume by geographic

Western Europe 21% Eastern Europe 18% Japan 8%

Distribution Asia ex Japan 20% North America 18% . 7 distribution hubs globally . Over 1,600 customers Germany . An OEM manufacturer in every USA region . Top 5 customers represent c.16% China of total revenue . No single customer contributes Vietnam more than 5% of revenue Thailand . Comprising distributors across Brazil 195 countries Malaysia . A geographically diverse customer base Africa 1% Top Glove’s Distribution Hubs Latin America 9% Middle East 5% 9/22 A Diverse Glove Range for Diverse Market Preferences

% of Product Mix By Volume from FY2011 to 9MFY21 Global 60% 55% Market Position 50% 47% 43% 43% Nitrile glove 40% Since 2020

30% 26% 27% Natural rubber 22% 23% powder-free glove 20% 22% Natural rubber 11% 19% 20% powdered glove Since 2004 9% 8% 10% 7% 10% Vinyl/TPE/CPE 2% 3% 1% Surgical glove 0% 2% FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 9MFY21 Since 2018 10/22 Cost of Production and Raw Material Price Trend 9MFY21 Cost Breakdown Raw Material Price Trend Packaging NR Latex & Nitrile & Crude Oil Price Latex Nitrile Butadiene Crude Oil Chemical 6% Butadiene Price (WTI) 8% (USD/KG) (USD/bbl) 3.4 73.45 73.68 80 Labour 3.0 70 61.16 69.11 9% Raw 2.6 60 2.42 2.15 Cost Material 2.2 50 Fuel Breakdown 53% 45.85 1.8 1.69 1.66 1.54 40 10% 1.4 1.19 1.22 30 1.34 1.0 1.13 1.17 20 Other 0.6 0.91 10 Overhead 14% 0.2 0 Aug-18 Aug-19 Aug-20 Aug-21

Key Highlights: a) Expecting a lower nitrile latex price as Butadiene and Acrylonitrile forecasted to decline b) Lower natural rubber latex concentrate price expected with wintering season ended in May 2021 c) Natural gas tariff increase by 12% for the period of 1 July 2021 to 30 September 2021 d) Electricity tariff reduced by 6% for the period of 1 January 2021 to 30 June 2021 11/22 Continuous Growth in Manufacturing Capabilities

To commence Number of production lines Total: 48 Factories Capacity, Malaysia production by Country Glove Type 1 Double Former (DF) Line pcs per annum . Headquarters Calendar Quarter = 2 Equivalent Single Former (SF) Lines . 32 Glove Factories Current: 37 glove factories All 812 Equivalent Single Former Lines 100 bil . 3 Chemical Factories 1Q CY2022 . 1 Glove Former Malaysia Nitrile / Latex 16 DF lines 4.8 bil . 2 Packaging Factories Jan22 to Mar22 . 1 Dental Dam Factory Nitrile 4 DF lines 1.2 bil . 1 Condom Factory 2Q CY2022 Malaysia Surgical 2 DF lines 0.6 bil . 1 Mask Factory Apr22 to Jun22 Producing: China PVC 2 DF lines 0.6 bil 1) Latex & Nitrile Examination Gloves 3Q CY2022 Malaysia Nitrile / Latex 4 DF lines 1.0 bil 2) Surgical, Household, Cleanroom Gloves Jul22 to Sep22 3) CPE/TPE Gloves 4Q CY2022 Malaysia Nitrile / Latex 24 DF lines 7.2 bil 4) Former & Chemical Manufacturing 5) Dental Dam Oct22 to Dec22 Vietnam PVC 10 DF lines 2.6 bil 6) Condom Additional new capacity in CY2022 62 DF lines 18 bil (+18%) 7) Face Mask Total capacity 31 December 2022 : 40 glove factories 936 Equivalent Single Former Lines 118 bil Thailand 1Q CY2023 . 2 Latex Concentrate Plants Malaysia Nitrile / Latex 29 DF lines 8.9 bil . 3 Glove Factories Jan23 to Mar23 Producing: 2Q CY2023 Malaysia 12 DF lines 3.7 bil Nitrile / Latex 1) Latex Examination Gloves Apr23 to Jun23 Thailand 14 DF lines 4.2 bil 2) Latex Concentrate 3Q CY2023 China Vietnam PVC 10 DF lines 2.6 bil . 1 Glove Factory Jul23 to Sep23 Producing: 4Q CY2023 1) Vinyl Gloves Malaysia Nitrile / Latex 38 DF lines 11.6 bil Oct23 to Dec23 Vietnam Additional new capacity in CY2023 103 DF lines 31 bil (+26%) . 1 Glove Factory Producing: Total capacity 31 December 2023 : 43 glove factories 1,142 Equivalent Single Former Lines 149 bil 1) Vinyl Gloves 12/22 Continuous Growth in Manufacturing Capabilities (Con’t)

Number of production lines To commence production Capacity, Country Glove Type 1 Double Former (DF) Line by Calendar Quarter pcs per annum = 2 Equivalent Single Former (SF) Lines 1Q CY2024 Nitrile / Latex 23 DF lines 6.8 bil Malaysia Jan24 to Mar24 Surgical 4 DF lines 1.2 bil 2Q CY2024 Malaysia Nitrile / Latex 36 DF lines 10.8 bil Apr24 to Jun24 3Q CY2024 Vietnam PVC 10 DF lines 2.6 bil Jul24 to Sep24 4Q CY2024 Malaysia Nitrile / Latex 12 DF lines 3.6 bil Oct24 to Dec24 Additional new capacity in CY2024 85 DF lines 25 bil (+17%) Total capacity 31 December 2024: 44 glove factories 1,312 Equivalent Single Former Lines 174 bil 1Q CY2025 Malaysia 14 DF lines 4.4 bil Nitrile / Latex Jan25 to Mar25 Thailand 30 DF lines 9.2 bil 2Q CY2025 Malaysia Nitrile / Latex 31 DF lines 9.8 bil Apr25 to Jun25 3Q CY2025 Vietnam PVC 10 DF lines 2.9 bil Jul25 to Sep25 4Q CY2025 Malaysia Nitrile / Latex 12 DF lines 3.7 bil Oct25 to Dec25 Additional new capacity in CY2025 97 DF lines 30 bil (+17%) Total capacity 31 December 2025: 47 glove factories 1,506 Equivalent Single Former Lines 204 bil 13/22 Our Successful Technology Transformation

Product and process innovation to produce safer and higher quality products efficiently

Advanced Automated Automated Stacking Scada AI Vision Robotic Production Line Stripping & Counting system Camera Arm

10 R&D centres across Asia: 7 centres in Malaysia, 2 centres in Workers Per Million, WPM 1 Thailand and 1 centre in China 60% Improvement

1,250 researchers, including 38 PhD holders and 130 Master’s Degree 4.0 1.6 2 holders with experience in product and material development, sustainable technologies, engineering and automation

Investment in improving automation and AI capabilities, including WPM 3 installation of AI Vision Cameras and advanced automated stripping WPM and stacking machines In FY2010 As at July 2021 Latest Factory 14/22 A High Dividend and High Growth Company Reward Shareholders with High Dividend in an Exceptionally Good Year

FY2021 59.7 Quarterly Dividend . In addition to existing dividend policy of 50% Ordinary Dividend, sen 12.5 . The Board is committed to a Special Dividend Special Dividend, sen of 20% for 2QFY21 to 4QFY21 25.2 . Committed to 70% dividend payout ratio for 47.220.0 4QFY21 +406% 7.2 18.0 16.5 5.3

18.0 11.8 2.8 2.5 12.7 1.9 2.4 2.4 1.0 1.4 0.9 1.4 1.4 1.4

*RM mil 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 9M21 1Q21 2Q21 3Q21 Total Dividend* 66 99 68 99 99 99 143 182 182 217 192 962 4,782 1,324 2,017 1,441

Payout Ratio 39% 40% 60% 49% 51% 55% 51% 50% 54% 51% 53% 55% 66% 56% 70% 71%

Note: Dividend per share has been adjusted for the bonusissues 15/22 High Growth Company Since Listing in 2001

Over 20 Years Since Listing in 2001 Compound Annual Growth Rate, CAGR Average PAT Margin Revenue PAT 28% 38% 24% 31 August Financial Year End RM’mil 2001 2005 2010 2011 2015 2016 2017 2018 2019 2020 9MFY21 Revenue 138.9 641.8 2,079.4 2,053.9 2,510.5 2,888.5 3,409.2 4,220.7 4,801.1 7,237.4 14,286.6 EBITDA 23.9 89.2 364.7 207.3 441.7 524.7 489.3 694.0 687.5 2,421.5 9,601.7 EBITDA margin 17.2% 13.9% 17.5% 10.1% 17.6% 18.2% 14.4% 16.4% 14.3% 33.5% 67.2% PBT 17.2 65.7 305.0 145.5 363.5 442.2 393.4 522.8 423.6 2,165.6 9,413.2 PBT margin 12.4% 10.2% 14.7% 7.1% 14.5% 15.3% 11.5% 12.4% 8.8% 29.9% 65.9% Taxation 1.3 7.6 54.6 30.3 82.3 79.8 54.5 89.6 56.1 376.7 2,059.8 PAT 15.9 58.2 250.4 115.1 281.2 362.4 338.9 433.2 367.5 1,788.8 7,353.4 PAT margin 11.5% 9.1% 12.0% 5.6% 11.2% 12.5% 9.9% 10.3% 7.7% 24.7% 51.5% ROE, % 17.0% 28.6% 22.4% 10.0% 17.4% 19.9% 16.3% 18.1% 14.4% 28.9% 103.9%# Note: # Based on latest 12 months PAT Bursa: Shareholder Value Track Records 16/22 Total Shareholders Return of 20,397% Over 20 Years Since Listing in Year 2001

Number of CDS and CDP Number of account As at 23/8/2021: account as at 13 August 2021 14th highest market capitalization in Bursa Total CDS Account, Bursa 125,839 18th highest market capitalization in SGX

Total CDP Account, SGX 9,366 Grand Total 135,205 Source: Registrar of Depository

With initial investment of 1,000 shares made based on IPO price of RM2.70 on 27 March 2001, the return would be: Market value Number of shares held(1) Accumulated Investment cost Capital Total shareholder (as at 23 August 2021) Dividends (as at 27 March 2001) appreciation(2) return # RM RM RM RM % 122,304 459,863 93,564 2,700 550,727 20,397%

Source: Reuters as at 23 August 2021 Notes: (1) 1,000 shares at IPO, adjusted for bonus issue and share split since IPO (2) Calculated based on adding market value and accumulated dividends and subtracting the investment cost Top Glove has achieved all Green on the International 17/22 Labour Organization (ILO) 11 Indicators

# # # Forced Labour Indicators Investigation CAP CAP Accommodation CAP 11 A vs completed verification verification inspection verification Impactt UK assessment 28/08/2020 October 2020 January 2021 March 2021 April 2021 Key: 1. Abuse of vulnerability A Green = All issues closed 2. Retention of identity documents Pale Yellow = Further progress B made 3. Restriction of movement * * Light Yellow = Significant 4. Excessive C progress made on issues

5. Abusive working and living conditions Dark Yellow = Critical issues D present but isolated / or in supply 6. Deception chain 7. Isolation E Orange = Critical issues present, 8. Debt bondage but progress is being made 9. Withholding of Red = Critical issues requiring F immediate action 10. Physical and sexual violence ** Note: The indicator of A to F is 11. Intimidation added in for easy reference

Notes: *It is important to note that various mandatory government movement control orders (MCOs) are in place to prevent the spread of COVID-19, despite all prior issues being closed, restriction of movement remains factually present. ** ILO Forced Labour Guidance on Physical and Sexual Violence’ states…’Forced labourers..may be subjected to actual physical or sexual violence….to have greater control over them.’ It is Impactt’s opinion that the instances of physical and sexual violence at TG are not related to the company gaining ‘greater control over workers’, therefore these instances, although concerning, are not indicative of systemic forced labour. # CAP = Corrective Action Plan Source: Impactt UK Report, 22 April 2021, ILO Indicators in Top Glove direct operations U.S. Customs and Border Protection (CBP) Withhold Release 18/22 Order Modification Processes

Top Glove is at this stage currently 19/22 Top Glove Vaccination Programme 2021 is Year of ESG for Top Glove: 20/22 Environmental, Social & Governance We aspire to be the Glove Manufacturer of Choice for customers which Commitment driven by the integration of sustainability into every aspect of our business. Good business starts with strong ethics and the Group is linking Executive Compensation to ESG Metrics. Good Business Good Business champions Good Business is Supported by Starts with Good Environmental Good People Strong Ethics Practices 40% of KPIs linked to ESG metrics in 5 focus areas

Product Quality Occupational Health Human Rights and Reduce Carbon Talent Retention and Safety & Safety Labour Practices Emission . Performance . Performance . Performance . Performance . Performance indicator: indicator: indicator: indicator: indicator: Customer Occupational Top performing Social ethical audit Scope 1 & 2 complaints rate accident rate employee turnover scoring emission intensity reduction

Link to Top Glove’s Sustainability page: https://www.topglove.com/sustainability/ 21/22

www.topglove.com | [email protected] | +603 3362 3098 22/22 TOP GLOVE ESG CLAP Thumbs Up, Ready, 1 2 3 TOP GLOVE Top Environment

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Initiated By: TG Year of ESG Committee @ 19/04/2021 IMPROVE! IMPROVE! IMPROVE! Verified By: Mr. Ng Yong Lin @ 18/05/2021 Approved By: Tan Sri Dr Lim Wee Chai @ 18/05/2021