JUBILANT FOODWORKS LIMITED Corporate Presentation February 2017 2

1 Overview of the Indian Food Service Industry

2 Overview of Jubilant FoodWorks Limited (JFL)

3 Domino’s – Journey & Positioning

4 Dunkin’ Donuts –Journey & Positioning

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 population, Higher disposable / discretionary nuclear family & more working income women)

Growth driven by Greater urbanization digitization

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

India an attractive proposition Business potential in transit for global players – more locations choices for consumers

Large consumption growth relative to emerging and developed markets 7

Consistent quality of Rising Focused & Execution & Focus on Prudent roll- product with Value for aspiration of integrated delivery of hygiene and out finger on money using branded approach strategy sanitation 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 13,200 franchised and Company- o More than 12,000 restaurants in more than 44 Countries owned Restaurants in more than 80 international countries markets

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

Presence in India o 1,111 restaurants across 260 Indian cities* o 68 Restaurants across 19 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 Dunkin’ restaurants in India, Sri Lanka, Bangladesh and Donuts restaurants in India. The agreement is for Nepal a period of 15 yrs, till February 2026 with the o Current franchising agreement till December option of renewal for 10 yrs, with first right of 2024 with right of renewal for another 10 years refusal for Sri Lanka, Nepal & Bangladesh * As of 06 February 2017 Accumulated learning's to drive ramp-up in Domino’s Pizza & Dunkin’ Donuts 11

Driven by Consumer Focus Operational Robust and Innovative Excellence Integrated Marketing Supply 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 INFRASTRUCTURE

OPERATIONAL EXCELLENCE

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

Vendors and Central Location Partners

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

Raw Materials Restaurants

* As of February 06, 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 CEO Employees in growth path for of the encouraging every Team Restaurant excellence Member educational growth

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

Whistle Blower institutionised at Fun at work 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 route/ load GPS enabled deliver vehicles – to track vehicle efficiencies for supplies from commissary to stores movement COGNOS – system aids in procurement planning OLO/mobile app /Voice ordering – for ease of SAP – for accounting and Supply Chain systems/ ERP ordering 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 of Energy management system – tool to optimize ordering energy usage LMS – Learning management System – non trainer SAP – Accounting and Supply Chain related - ERP based learning at restaurants Biometric device – tracking of employee attendance, GRC – Governance Risk and Compliance tool helps improving productivity, Energy management system – tool to optimize I Manage – Mobility, Ease of Compliance, energy usage Socialization, automation of transactions, say confirmation Hyperion – tool for financial planning

Integration of technology across levels to drive efficiencies & enhance growth opportunities 18

3 5

Negotiate With landlords Average restaurant opening/ construction Handover of restaurant to time is between 35-45 2 contractor for interiors days from the date of possession of premises 4 for a new restaurant Construction/ Purchase and location installation of 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 opening flyers, regional restaurant media coverage) location 8

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

Pizza Mania Extremes Big Joy Burgers Range of coffees

Product Innovation

Burger Pizza DunkyDoos

• 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 Time’ . Innovative BTL activation (restaurant targeted) . Innovative new product development and launches

Digital Marketing Customer Relationship Management

• More than 6.8 million • “One to one” marketing Facebook fans utilizes information from point-of-sales • 137k followers on software system to Twitter provide relevant customized • More than 12.7 mn communication/ offers views for video of 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 Home Delivery’ and the latest Reaching out to one ‘Yeh Hai Rishton Ka more people by Time’ launching unique mobile applications

Providing value by tapping the middle Mastering classes through the on-time home the affordable delivery model, ‘Fun Meal’ and without penalizing the ‘Pizza Mania’ the delivery boy Popularizing range for late/free the pizza delivery concept by customizing it to the Indian palette 23

Revenue 9 Yr CAGR (FY08-FY16) 36%

400 2016: Crossed 1000 1200 2012: Launch of new store milestone Aug 2008: Launch of positioning “Yeh Hai new positioning Rishton Ka Time” "Khushiyon Ki Home 1026 350 2003: Launched Delivery" Nov 13: 1998: Launched "30 Min or Free" 1000 "Hungry Kya?" Fresh Pan campaign 2012: Taco campaign Pizza Indiana & 876 300 Aug 2008: Launch 2009: CLC, July 13: Lebanese Roll of Rs.35 Pizza Pasta & Choco BOGO Wed Mania Lava Launched Launched 800 726 250

2005: Ajay Kaul Management 576 200 appointed as CEO 600 Changes Largest 465 market outside of No. Restaurants 150 Pizza 378 U.S. Theatre 400 306 100 100th 241 Restaurant Feb 2010: s 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 0 0 FY96 FY01 FY04 FY05 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 Revenue (USD mn) Restaurants

Initial Phase Consolidation Planned Growth Aggressive 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

Pizza Mania Extremes Choco Pizza Quattro Formaggi Burst Crust

Burger Pizza Fresh Pan Pizza in Regular size Taco Mexicana Zingy Parcel 26

National Delivery Number

Restaurant Takeaway

3600 Indian mode of Mobile Railways customer App outreach

Online Delivery ordering 27

Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17

Average OLO contribution to delivery sales 36% 41% 44% 47% 49%

Mobile Ordering sales contribution to overall OLO 38% 38% 41% 54% 56%

Downloads of mobile ordering app 3.7 mn 3.9 mn 4.4 mn 5.0 mn 5.3 mn

Accessible through all platforms Dunkin’ Donuts – Overview 29

ALL DAY PART MENU 30

 “Get your Mojo Back” positioning, focused on the urban youth consumer and aimed to get Dunkin’ Donuts better placed in the sweet spot between the QSR and the Café markets  New, evolved products with higher degree of complexity and gourmet qualities  All day part menu offering of food (burger, wraps, sandwiches, etc), apart from donuts & beverages (coffee)

31

Munchkins DunkyDoos Donut Cakes

Donuts

Big Joy Burgers Chef’s Favourite Paneer

Food

Virgin Mojito Coolatta Beverages

Salty Classic Lemonade Coolatta 32 Financial Highlights-Jubilant FoodWorks 34

All figures in Rs mn

Total Income EBITDA (LHS) EBITDA% (RHS)

30,000 3,000 20% 18.6% 2,852 17.7% 2,628 18% 17.3% 2,551 25,000 24,102 2,500 2,444 16% 14.7% 20,745 14% 20,000 19,333 2,000 1,904 1,861 17,328 11.8% 12.7% 12%

15,000 14,153 1,500 10% 9.6% 1,201 8% 10,233 10,000 1,000 6% 6,803

4% 5,000 29% CAGR 500 19% CAGR

2%

0 0 0% FY11 FY12 FY13 FY14 FY15 FY16 9MFY17 FY11 FY12 FY13 FY14 FY15 FY16 9M 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

All figures in Rs mn

PAT (LHS) PAT % (RHS) Networth

1,600 12% 9,000 8208 10.6% 8,000 7,681 1,400 1,351 10.4% 10% 1,258 1,233 7,000 6,711 9.6% 1,200 1,146 1,056 8% 6,000 5,635 1,000 7.3% 5,000 5.9% 4,362 800 6% 720 4.8% 4,000 605 600 2,996 4% 3,000

400 1,917 3.1% 2,000 10% CAGR 2% 32% CAGR 200 1,000

0 0% 0 FY11 FY12 FY13 FY14 FY15 FY16 9MFY17 FY11 FY12 FY13 FY14 FY15 FY16 H1FY17

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 36

No. of Employees No. of Restaurants 27,122 27,719 27,971 24,969 1,179** 19,734 1,180* 1,097 14,626 930 11,514 752 586 465 378

FY11 FY12 FY13 FY14 FY15 FY16 9M FY17

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

16%

2% 3.2% 0.05% -0.8% 0 0 0 0 0 0 0

FY11 FY12 FY13 FY14 FY15 FY16 9M FY11 FY12 FY13 FY14 FY15 FY16 H1 FY17 FY17 • *Total No of stores includes 1107 Domino's Pizza stores + 73 Dunkin’ Donuts Restaurants (as of 31 December, 2016 ) • **Total No of stores includes 1111 Domino's Pizza stores + 68 Dunkin’ Donuts Restaurants (as of 31 December, 2016 ) Outlook 38

Target to become a stronger Company with improving Portfolio profitability Driving Expansion Innovation Brand Strategic development Committed to infrastructure Evaluate Aim to strengthen Increase and investment international consistently and utilize optimize use renowned keep innovating business of technology brands around ROI focused across business capabilities to Continuous QSR/ Casual functions generate expansion investments and Dining. Make requisite Product sustainable up gradations Continuous evaluation investments in innovation to profitability of expansion program Continued towards band Explore starting business to remain a to ensure adherence to investments to developments to own brand or leverage market dominant part profitability strengthen capture the acquiring/ parameters opportunities of the agenda in OLO and dynamics of the investing in Progress on order to deliver mobile sector and some Aligned to this construction of high quotients process, for FY17, the ordering customer promising Greater Noida of customer target would be to platforms in preferences domestic brand open 110- 115 new order to drive mega satisfaction Domino’s Pizza sales and commissary as restaurants and enhance per plan around 15 new Dunkin’ Donuts efficiencies

Successfully opened 95 Domino’s Pizza and 11 Dunkin’ Donuts’ restaurants thus far Annexures: Experienced Team, CSR initiatives Awards

40

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

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

Mr. Ajay Kaul (CEO and Wholetime Director) Mr. Vishal Marwaha (Independent Director)

o Has experience in India and abroad in industries such o He has expertise in private equity and investment as financial services, airlines, express distribution, banking. logistics and food retail o Bachelor’s degree in commerce from the University of o Bachelor’s Degree in Technology from IIT Delhi and Delhi and is a qualified chartered accountant MBA from XLRI, Jamshedpur 41

Ms. Ramni Nirula (Independent Director)

o Has experience in the banking and finance industry including Project Financing, Strategy, Planning & Resources and Corporate Banking o Bachelor’s degree in economics and MBA from University of Delhi

Mr. Phiroz Vandrevala (Independent Director) o He has been part of numerous expert committees constituted by the Reserve to guide the Central Bank in its policy-making efforts, as well as IT advisory bodies in India and on the Board of several prominent educational institutions o He is a graduate from Kolkata and a qualified Chartered Accountant

Mr. Arun Seth (Independent Director) o He has commercial and technical expertise in the IT and telecommunications industry in India. o Holds a bachelor’s degree in engineering from IIT, Kanpur and MBA from IIM, Calcutta 42

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 development, o Has over 21 years of work experience in Media and training & customer service, quality and Six Sigma, entertainment, Digital, IT/ITES and Infrastructure. marketing, new product development and HR o Mr. Sharma is a qualified Chartered Accountant and o Has over 23 years overall experience out of which 20 holds a Bachelor of Commerce (Hons) Degree from years have been with the Company 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 Arvind Vats (Chief Investor Relations Officer & Deputy CFO) India) o Responsible for management assurance, corporate o Responsible for operations and business governance, FP&A, Investor relations and corporate development, marketing, project and maintenance, affairs training and customer service, quality & Six Sigma for o Has over 22 years overall experience out of which 11 India years have been with the Company

o Has over 17 years overall experience out of which over o He is a CA, ICWA and MBA (Finance) 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. 43

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 44

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 JFL was awarded as Best Risk Management Domino’s Pizza won the National Award – by World HRD Congress Best Deployment of Learning Management Framework & System – Retail award by by ICICI Lombard and CNBC TV18 System at Best in Class Learning & JFL won Golden Peacock award in FY16 for Development Awards, organised by World • National Quality Award for concentrated HRD Congress efforts in building a culture of continuous Domino's Pizza has won the “Best Customer improvement Service Award” at the Indian Restaurant Coca Cola Golden Spoon Award under • National Training Award Awards 2016, organized by Franchise India. following categories: • Risk Management • IMAGES Most Admired Food Service Chain Of The Year – QSR Foreign Origin JFLwon the 4th Edition of “India’s Most JFL won 7 CII Awards for Food Safety - 2016 • IMAGES Most Admired Food Service Ethical Companies Award 2016” by the World under following categories: Retailer Of The Year – Retail Expansion CSR Day • Outstanding Performance in Food Safety in the category of 'Small & Medium manufacturing Dunkin’ Donuts has won business: ready to cook’ and 'Small & • “National Award - Excellence In Customer Medium Food Service QSR’. Domino’s Pizza India has won the “Golden Service & Loyalty – in the Category of Café Peacock National Training Award” by the • Significant Achievement in Food Safety in the Restaurant” at Global Awards for Excellence in category of ‘Small & Medium Manufacturing “Institute of Directors(IOD)- India at Quality Management & Leadership organized by Business: Rising Star: Ready To Cook’ and the”25th World Congress on Leadership for World Quality Congress. ‘Small & Medium Food Service: Rising Star: Business Excellence & Innovation’ and the • “Asian Award for Best in Quality Service” at 7th QSR’ Golden Peacock Awards Presentation Asian Best Employer Brand Award 2016 • Strong Commitment to Food Safety in the Ceremony organized jointly by World HRD Congress. Category of ‘Small & Medium Food Service: • “National Award - Best Customer Service by a Rising Star: QSR’ Dunkin’ won Café Restaurant” at Indian Restaurants Awards • Letter of Appreciation in Food Safety in the • Delhi NCR Hot 50 Brands Award in FY16 2016 organized by Franchise India. Category of ‘Small & Medium Food Service: presented by One India • Food Safety Excellence Award” at the Dunkin’ QSR’ and ‘Small & Medium Food Service: International Middle East Rally Awards 2016 • Best marketing and promotions Award at Rising Star: QSR’ organized by Dunkin’ International. Images Retail Award by India Retail Forum Thank You