JUBILANT FOODWORKS LIMITED Corporate Presentation June 2017 2

1 Overview of the Indian Food Service Industry

2 Overview of Jubilant FoodWorks Limited (JFL)

3 Domino’s – Journey & Overview

4 Dunkin’ Donuts – Journey & Overview

5 JFL Financial Highlights

6 Outlook

7 Annexures (Experienced Team, CSR Initiatives & Awards) Overview of Indian Food Service Industry 4

Format 2016 CAGR 2021

Rs 204.0 bn ---- Rs 509.5 bn Chained Market (7%) 20.1% (10%)

Rs 810.8 bn ---- Rs 1,532.3 bn Standalone Market (26%) 13.6% (31%)

Rs 2,076.4 bn ---- Rs 2,939.5 bn Unorganized Market (67%) 7.2% (59%)

Rs 3,091.1 bn ---- Rs 4,981.3 bn Total (100%) 10.0% (100%)

Chained Market projected to grow at 20% CAGR

Source: Food Services Report 2016- National Restaurant Association of India 5

Format 2013 CAGR 2016 CAGR 2021

Rs 15.2 bn ---- Rs 18.1 bn ---- Rs 29.1 bn Cafe (12%) 6% (9%) 10% (6%)

Rs 55.0 bn ---- Rs 91.3 bn ---- Rs 246.7 bn Quick Service Restaurant (43%) 18% (45%) 22% (48%)

Rs 39.5 bn ---- Rs 67.2 bn ---- Rs 172.5 bn Casual Dining Restaurant (31%) 19% (33%) 21% (34%)

Rs 5 bn ---- Rs 5.3 bn ---- Rs 6.2 Cr Fine Dining Restaurant (4%) 2% (3%) 3% (1%)

Rs 5.4 bn ---- Rs 10.7 bn ---- Rs 28.8 bn Pubs & Bars (4%) 25% (5%) 22% (6%)

Rs 7.8 bn ---- Rs 11.6 bn ---- Rs 26.4 bn Frozen Dessert (6%) 14% (6%) 18% (5%)

Rs 127.9 bn ---- Rs 204.0 bn ---- Rs 509.5 bn Total (100%) 17% (100%) 20% (100%)

QSR segment is projected to grow at 22% would stand as 48% of total chained market Source: India Food Services Report 2016- National Restaurant Association of India 6

Pro-growth Demographics (increased youth Higher disposable / population, nuclear family & discretionary income more working women)

Growth driven by Greater digitization urbanization

Changing consumer Growth in chained preferences – retail widening exposure to new cultures and cuisines

India an attractive Business potential in transit proposition for global locations players – more choices for consumers Large consumption growth relative to emerging and developed markets 7

Consistent quality of Rising Focused & product Execution & Focus on aspiration Prudent Value for integrated with finger delivery of hygiene and of using roll-out money approach on strategy sanitation branded customer’s products pulse

Evolving according to the needs of the consumer, leading to growth 8

On the pedigree of the global brand Capitalising

The palette with local flavors Customising

New products on a regular basis Introducing

A unique model through home delivery & dine-ins Developing

Operational excellence- consistency of product and service Delivering

On enticing customers with evolving mktg strategies Focusing

Systematic approach to deliver sustainable growth Overview of Jubilant FoodWorks 10

o Founded in 1960 o Founded in 1950

Presence Across o More than 14,000 franchised and Company- o More than 12,200 restaurants in more than Countries owned Restaurants in more than 85 45 countries international markets

Beginning of Restaurants in o 1st restaurant operated in India in Mar’96 o 1st restaurant operated in India in Apr’12 India

Presence in India o 1,127 restaurants across 265 Indian cities* o 60 Restaurants across 16 Indian cities* o India is currently the biggest market for Domino’s Pizza outside the United States

Contract Details o Exclusive right to open Domino’s Pizza o Exclusive right to operate and develop restaurants in India, Sri Lanka, Bangladesh Dunkin’ Donuts restaurants in India. The and Nepal agreement is for a period of 15 yrs, till o Current franchising agreement till December February 2026 with the option of renewal 2024 with right of renewal for another 10 for 10 yrs, with first right of refusal for Sri * As of May 29, 2017 years Lanka, Nepal & Bangladesh Accumulated learning's to drive ramp-up in Domino’s Pizza & Dunkin’ Donuts 11

Consumer Robust Driven by Focus and Integrated Operational Innovative Supply Excellence Marketing Chain Continuous Systems Human Innovation Resource Robust Project Management Corporate Investments Management driving growth Governance in Competency Mechanism Technology

Delivering consistency in product and services to delight our customers 12

ROBUST INFRASTRUCTUR E

OPERATIONAL EXCELLENCE

Delivering consistency in product and services to delight our customers 13

Food Safety and Quality Assurance

• Training on standards of Food safety and Quality • Regular QA Assessment • Third party assessment through NABL Accredited agency • Regular compliance checks of food processes as per FSSAI guidelines • Continual surveillance assessment of restaurants under ISO 22000 certification

• Stringent selection & • Training of staff and monitoring process of new managers on comprehensive and existing suppliers based @ Restaurant standards of Food safety and on key performance Level Quality indicators for Quality and • Stringent sampling of all raw Food Safety requirements materials & COA approach • Food ingredient suppliers are acceptance FSMS certified Food Safety • Comprehensive analysis of • Moving all vendors towards and Quality Food products as per FSSAI FSMS certification Assurance guidelines • NABL Accredited Third Party • Regular food quality and Assessments Initiation for safety QA assessments Core ingredient supplying @ Supply @ Commissary based on FSSAI Schedule 4 Food Vendors Chain level Level requirements • Alliances with all vendors to • Implemented FSMS (ISO continuously enhance Quality 22000 ) certification in 5 and Food safety norms and Commissaries comply regulations 14

Vendors and Central Location Partners

COLD CHAIN TRUCKS at 1-40 C COLD CHAIN TRUCKS at 1-40 C Restaurants

Raw Restaurant Materials s

* As of 29 May 2017

Under Construction

An integrated supply chain for Domino’s Pizza and Dunkin’ Donuts adapted to Indian conditions; well-equipped to deal with geographic and demand expansion 15

Guest Delight Manager (Restaurant Manager) is Assist Pre defined treated as Employees in growth path for CEO of the encouraging every Team Restaurant excellence Member educational growth

Reward & Recognition with Learning & Variable Professional Incentives bring Development and motivation Training

Whistle Blower Fun at work institutionised at every restaurant/ office

Team members act as brand ambassador imbibing JFL’s values, ethics and culture 16

Institutionalised Composition of Board with Whistle Blower Professional Acumen Mechanism

Nurturing Enterprise Robust Audit and Risk Management Corporate Review Mechanism Governance Mechanism

Code of Conduct/ Established Internal No Gift Policy Control Mechanism

Truly inculcated mechanism of corporate governance 17

Customer level Commissary / Supply chain level

Customer Relationship Management ( CRM ) Oracle Transport management – Optimizes GPS enabled deliver vehicles – to track route/ load efficiencies for supplies from vehicle movement commissary to stores COGNOS – system aids in OLO/mobile app /Voice ordering – for ease procurement planning of ordering SAP – for accounting and Supply Chain systems/ ERP GPS on commissary truck – Enables tracking trucks and monitoring factors like temperature compliance Barcoding – for efficient stock management Automation – Implementation of sensor doors, use of technology for temperature compliance, picking trolley ARIBA – tool for vendor management

Restaurant level Organizational Level

OLO/mobile app /Voice ordering – for ease Energy management system – tool to of ordering optimize energy usage LMS – Learning management System – non SAP – Accounting and Supply Chain related - trainer based learning at restaurants ERP GRC – Governance Risk and Compliance tool Biometric device – tracking of employee Energy management system – tool to attendance, helps improving productivity, optimize energy usage I Manage – Mobility, Ease of Compliance, Socialization, automation of transactions, say confirmation Hyperion – tool for financial planning Integration of technology across levels to drive efficiencies & enhance growth opportunities 18

3

Negotiate 5 With landlords Average restaurant opening/ construction Handover of restaurant time is between 35-45 2 to contractor for days from the date of interiors possession of premises for a new restaurant 4 Construction/ Purchase and installation of location machinery

6 Operational and Financial Diligence Legal due diligence and agreement sign off with landlords

1 7 Training of team members Local advertisement (distribution of Identify new Restaurant flyers, regional restaurant opening media coverage) location 8

ROI/Payback period analysis undertaken prior to opening a restaurant 19

Pizza Mania Extremes Chef’s Favourite Range of coffees Paneer

Product Innovation

Burger Pizza Choco Pizza Quattro Formag gi Burst DunkyDoos Crust

• Open Kitchen Design Innovation • Flexible Seating • Heritage Wall

Technology Innovation

Innovating to keep the excitement alive 20

National Marketing Local Store Marketing (LSM)

. Television . Door Hangers

. Print Media & Radio . Flyers (including regional language) . Customer lifecycle management programme . Emotional positioning of ‘Yeh hai Rishton ka . Innovative BTL activation Time’ (restaurant targeted)

. Innovative new product development and launches

Customer Relationship Digital Marketing Management

• More than 6.4 • “One to one” million Facebook marketing utilizes fans information from point-of-sales • 147k followers on software system to Twitter provide relevant customized • More than 13.0 mn communication/ views for video of offers to consumers Domino’s Pizza India on YouTube Domino’s Pizza –Overview 22

Striking an emotional chord with consumers through its campaigns included ‘Hungry Kya?’, ‘Khushiyon ki Reaching out to Home Delivery’ and more people by the latest one ‘Yeh launching unique Hai Rishton Ka Time’ mobile Popularizing applications the pizza concept by Mastering customizing it the on-time to the Indian home delivery Providing palette model, without value by tapping penalizing the the middle delivery boy for classes through late/free the affordable delivery ‘Fun Meal’ and the ‘Pizza Mania’ range 23

Revenue CAGR (FY10-FY17) 29%

400 2016: Crossed 1200 2012: Launch of 1000 store 1127 Aug 2008: Launch new positioning milestone of new positioning “Yeh Hai Rishton "Khushiyon Ki Ka Time” 1026 350 2003: Home Delivery" 1998: Nov 13: Launched "30 Launched 1000 Launched Fresh Pan Min or Free" 2012: Taco Quattro "Hungry Pizza campaign Indiana & 876 Formaggi 300 Kya?" Aug 2008: 2009: CLC, July 13: Lebanese Burst campaign Launch of Rs.35 Pasta & BOGO

Crust and Pizza Mania Choco Lava Roll Wed Launched Launched Choco 800 726 250 Pizza Largest 2005: Ajay Kaul 576 market 200 Management appointed as 600 Changes CEO outside U.S. 465 150 Pizza ofNo.Restaurants 378 Theatre 400 306 100 100th 241 Restaura Feb 2010: nts 182 IPO 200 50 100 80 93

2 8.4 10.9 0.2 7.6 31.3 42.0 62.8 100.5 150.7 208.2 255.0 306.9 356.5 376.6 0 0 FY96 FY01 FY04 FY05 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 Revenue (USD mn) Restaurants

Initial Phase Consolidatio Planned Growth Aggressive n Growth Largest market for Domino’s Pizza outside of U.S.A 24

Open Kitchen- Benefits . Its Theatric-Consumer can see the making of Pizza’s . Confidence in Hygiene and Sanitations.

Pizza Flexible Seating Theater . High stools for Youngsters . Soft sitting for Seniors . Long Table for Families

Heritage Wall . Indicating more than 60 years Old Brand 25

Quattro Formaggi Burst Pizza Mania Extremes Choco Pizza Crust

Burger Pizza Fresh Pan Pizza in Regular size Navratra Menu 26

National Delivery Number

Restaurant Takeaway

3600 Indian mode of Mobile Railways customer App outreach

Online Delivery ordering 27

Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17

Average OLO contribution to delivery sales 41% 44% 47% 49% 51%

Mobile Ordering sales contribution to overall 38% 41% 54% 56% 68% OLO 3.9 mn 4.4 mn 5.0 mn 5.3 mn 6.4 mn Downloads of mobile ordering app Accessible through all platforms Dunkin’ Donuts – Overview 29

ALL DAY PART MENU 30

Munchkins DunkyDoos Valentine’s Day Donuts Holi Range of Donuts

Donuts

Big Joy Burgers Chef’s Favourite Paneer

Food

Virgin Mojito Coolatta Beverages

Salty Classic Lemonade Coolatta 31

Online ordering Financial Highlights-Jubilant FoodWorks 33

All figures in Rs mn

Total Income EBITDA (LHS) EBITDA% (RHS)

30,000 3,000 20% 18.6% 2,718 25,461 17.3% 2,628 18% 2,466 25,000 24,102 2,500 2,444 2,551 16%

20,745 14.7% 14% 20,000 2,000 1,904 12.7% 17,235 12%

11.3% 15,000 14,076 1,500 9.7% 10%

8% 10,175 10,000 1,000 6%

4% 5,000 500

2%

0 0 0% FY12 FY13 FY14 FY15 FY16 FY17 FY12 FY13 FY14 FY15 FY16 FY17

Note: 1. Financial discussion throughout this release is based on standalone reporting 2. The financials of Dunkin’ Donuts have been included in the results & related financial discussion 34

All figures in Rs mn

PAT (LHS) PAT % (RHS) Networth 9,000 1,600 12% 8,522 7,976 10.4% 8,000 1,400 1,351 1,258 10% 1,233 7,000 6,711 1,200 9.6% 1,056 1,066.2 8% 6,000 5,635 1,000 7.3% 5,000 4,362 800 6% 5.9% 672.5 4,000 4.4% 600 2,996 4% 3,000

400 2.6% 2,000 2% 200 1,000

0 0% 0 FY12 FY13 FY14 FY15 FY16 FY17 FY12 FY13 FY14 FY15 FY16 FY17

Note: 1. Financial discussion throughout this release is based on standalone reporting 2. The financials of Dunkin’ Donuts have been included in the results & related financial discussion 35

No. of Employees No. of Restaurants 27,719 27,122 26,604 24,969 1,180* 1,187** 19,734 1,097 930 14,626 752 11,514 586 465 378

FY11 FY12 FY13 FY14 FY15 FY16 FY17

Same Store Sales Growth Debt-Equity ratio (SSG) 37% 30%

16%

3.2% 2% 0.05% -2.4% 0 0 0 0 0 0 0

FY11 FY12 FY13 FY14 FY15 FY16 H1 FY17 FY11 FY12 FY13 FY14 FY15 FY16 FY17

• *Total No of stores includes 1,117 Domino's Pizza stores + 63 Dunkin’ Donuts Restaurants (as of 31 March, 2017 ) • **Total No of stores includes 1,127 Domino's Pizza stores + 60 Dunkin’ Donuts Restaurants (as of 29 May, 2017 ) Outlook 37

Energize existing loyal customer Continuous base and attract investments and new audiences Necessary up gradations through innovative investments that towards band and evolving Invest and grow Increased reach of will fortify developments to menu items and OLO channel to restaurant network business capture the marketing to provide better create a capabilities and dynamics of the strategies accessibility to the seamless help tap market sector and customers. For customer opportunities customer FY18, the target experience and would be to open Greater Noida preferences derive around 40-50 new Supply Chain efficiencies Domino’s Pizza Center shaping restaurants and 4 - up as per 5 new Dunkin’ Company’s plans Donuts restaurants. and is targeted Plan to reimage to be to be around 100 operational soon restaurants for a better customer experience Annexures: Experienced Team, CSR initiatives Awards 39

Mr. Shyam S. Bhartia (Chairman & Director) Mr. Hari S. Bhartia (Co-Chairman & Director)

o Has experience in the pharmaceuticals and o Has experience in pharma, life sciences & specialty chemicals, food, oil and gas, healthcare, oil & gas (exploration & production), aerospace and IT sectors agri & performance polymers, food & retail and o Bachelor’s degree in commerce St. Xaviers consulting services in aerospace and oilfield College, Calcutta University; Fellow member of services the ICWAI o Bachelor’s degree in chemical engineering from IIT, Delhi

Mr. Pratik Pota (CEO and Wholetime Director) Mr. Vishal Marwaha (Independent Director)

o Joins the Company from PepsiCo India where o He has expertise in private equity and he was Chief Operating Officer, Foods & investment banking. Beverages (Company Owned Operations). Prior o Bachelor’s degree in commerce from the to this, Mr. Pota has held various leadership University of Delhi and is a qualified chartered roles at and . He accountant has over twenty-four years of experience in FMCG and Telecom Industry. o Alumnus of IIM Kolkata and BITS Pilani 40

Ms. Ramni Nirula (Independent Director) Mr. Phiroz Vandrevala (Independent Director)

o Has experience in the banking and finance o He has been part of numerous expert committees industry including Project Financing, Strategy, constituted by the Reserve to guide Planning & Resources and Corporate Banking the Central Bank in its policy-making efforts, as well as IT advisory bodies in India and on the o Bachelor’s degree in economics and MBA from Board of several prominent educational institutions University of Delhi o He is a graduate from Kolkata and a qualified Chartered Accountant

Mr. Arun Seth (Independent Director) Mr. Shamit Bhartia (Non Executive Director) o He has commercial and technical expertise in the o Has expertise in media and motor Industries IT and telecommunications industry in India. o Has worked in the Corporate Finance and M&A o Holds a bachelor’s degree in engineering from IIT, Group, Lazard Frere, New York and is a Kanpur and MBA from IIM, Calcutta Managing Director of Hindustan Media Ventures Limited o Bachelors’ degree in Economics from Dartmouth College, USA.

Mr. Berjis Minoo Desai (Independent Director) Ms. Aashti Bhartia (Non Executive Director)

o Has expertise in mergers and acquisitions, o Has expertise in management building and derivatives, corporate and financial laws, business expansion. International business laws and international o commercial arbitration. Executive Director at Ogaan India Private Limited. Has worked as head of Strategy and o Has been practicing law for the last 37 years Business Development for Jubilant First Trust o Has worked as Managing Partner of J. Sagar Hospitals. Associates (JSA). o Bachelors’ degree in Anthropology and History o Law Graduate from Mumbai University and post from Columbia University, USA and Business graduate in law from Cambridge University, U.K. Bridge Program from Tuck School of Business, Hanover, New Hampshire. 41

Sachin Sharma (President & CFO) Mr. Tarun Bhasin (President & Chief Business Officer, Dunkin’ Donuts India) o Spearheading finance & accounts, legal, secretarial and Investor relations o Responsible for Operations & business o Has over 21 years of work experience in Media development, training & customer service, and entertainment, Digital, IT/ITES and quality and Six Sigma, marketing, new product Infrastructure. development and HR o Mr. Sharma is a qualified Chartered Accountant o Has over 23 years overall experience out of and holds a Bachelor of Commerce (Hons) which 20 years have been with the Company Degree from Delhi University o He holds a bachelor’s degree in Arts from University of Delhi and diplomas in public relations and hotel management from Bhartiya Vidya Bhavan, and National Council for Hotel Management and Catering Technology, New Delhi, respectively

Dev Amritesh (President & Chief Business Officer, Domino’s Pizza India)

o Responsible for operations and business development, marketing, project and maintenance, training and customer service, quality & Six Sigma for India

o Has over 17 years overall experience out of which over 10 years have been with the Company o He holds a BE degree from Bangalore University and also holds a PGDBM (Marketing and Operations) diploma from IMT, Ghaziabad. 42

Swachh Bharat Abhiyan Proactive efforts towards the mission of a Clean India. Road Safety Working concertedly across cities to spread awareness on road safety. Inclusive Development of People with Disabilities (PwD) Empowering PwDs to integrate them seamlessly in the work environment. Empowering Youth Enhancing skills of socially disadvantaged youth to facilitate their gainful employment. Farmers Development Program To enhance the cattle productivity & farmer’s income

Committed to be a Good Neighbour 43

JFL won the National Award for Excellence Domino’s won Star Retailer of the year JFL won CSR Initiative of the year Award in in Corporate Communication in the Award at Franchisee India Award FY16 at Annual Indian Retail Awards organized category of Best Annual Report for FY2016 by Franchisee India Domino’s Pizza won the National Award – Excellence in Customer Service,organised by Domino’s Pizza won the National Award – World HRD Congress JFL was awarded as Best Risk Management Best Deployment of Learning Management Framework & System – Retail award by by System at Best in Class Learning & ICICI Lombard and CNBC TV18 Development Awards, organised by World JFL won Golden Peacock award in FY16 for HRD Congress • National Quality Award for concentrated efforts in building a culture of continuous JFL has been certified as Great Place to Work improvement by the Great Place to Work Institute for building Coca Cola Golden Spoon Award under • National Training Award a high trust & performance culture. following categories: • Risk Management • IMAGES Most Admired Food Service Chain Of The Year – QSR Foreign Origin JFL won 7 CII Awards for Food Safety - 2016 • IMAGES Most Admired Food Service JFL has won the 3rd Edition of “Indian Risk under following categories: Retailer Of The Year – Retail Expansion Management Award – Best Risk Management Practice (Retail)” by CNBC TV-18. • Outstanding Performance in Food Safety in the category of 'Small & Medium manufacturing business: ready to cook’ and 'Small & Medium Food Service QSR’. Dunkin’ Donuts has won Domino’s Pizza India has won the “Golden • Significant Achievement in Food Safety in the • “National Award - Excellence In Customer Service & Peacock National Training Award” by the category of ‘Small & Medium Manufacturing Loyalty – in the Category of Café Restaurant” at “Institute of Directors(IOD)- India at the”25th Business: Rising Star: Ready To Cook’ and Global Awards for Excellence in Quality ‘Small & Medium Food Service: Rising Star: QSR’ World Congress on Leadership for Business Management & Leadership organized by World • Strong Commitment to Food Safety in the Excellence & Innovation’ and the Golden Quality Congress. Category of ‘Small & Medium Food Service: Peacock Awards Presentation Ceremony • “Asian Award for Best in Quality Service” at 7th Rising Star: QSR’ Asian Best Employer Brand Award 2016 organized • Letter of Appreciation in Food Safety in the jointly by World HRD Congress. Category of ‘Small & Medium Food Service: QSR’ • “National Award - Best Customer Service by a Café and ‘Small & Medium Food Service: Rising Star: Restaurant” at Indian Restaurants Awards 2016 QSR’ Dunkin’ won organized by Franchise India. • Delhi NCR Hot 50 Brands Award in FY16 • Food Safety Excellence Award” at the Dunkin’ presented by One India International Middle East Rally Awards 2016 • Best marketing and promotions Award at organized by Dunkin’ International. Images Retail Award by India Retail Forum Thank You