1 March 2021

Associated British plc OUR PURPOSE

TO PROVIDE SAFE, NUTRITIOUS, AFFORDABLE AND THAT IS GREAT VALUE FOR MONEY

Associated British Foods plc 2 2021 ESG BRIEFING SERIES

MARCH ESG Investor Briefing

Primark and ESG

Focus on Environmental

Annual Report and Corporate Responsibility Report

Associated British Foods plc 3 AGENDA OVERVIEW

GOVERNANCE

SOCIAL

ENVIRONMENTAL

BREAK

Q&A: INVESTORS & ANALYSTS

Associated British Foods plc 4 01

Associated British Foods plc OUR GROCERY BUSINESS

Associated British Foods plc 6 Overview AB SUGAR

One of the world’s largest sugar producers

Our biggest businesses include:

Illovo Sugar Africa British Sugar Azucarera

Associated British Foods plc 7 Overview AB AGRI

Operating across the food supply chain

Producing animal feed

Providing nutrition and technology-based products and services

Associated British Foods plc 8 Overview OUR INGREDIENTS BUSINESS

Supplying yeast and speciality ingredients for bakers and food producers

An important supplier to the pharmaceutical industry

Associated British Foods plc 9 Overview

Major value fashion retailer

Fast-growing

Significant presence in

Growing presence in the US

Associated British Foods plc 10 Overview Associated British Foods plc 11 Overview TOTAL SHAREHOLDER RETURN 2010–2020

Associated British Foods plc 12 Overview TOTAL DIVIDEND 2005–2019

Associated British Foods plc 13 Overview GARFIELD WESTON FOUNDATION

More than £80 million donated to 2,000 UK charities in 2020

In 62 years, more than £1 billion disbursed

Consistent level of funding maintained through Covid

Associated British Foods plc 14 Overview Associated British Foods plc 15 Overview 02

Associated British Foods plc 16 GOVERNANCE FRAMEWORK

Associated British Foods plc 17 Governance CULTURE & VALUES

Associated British Foods plc 18 Governance Associated British Foods plc 19 Governance Downtown Crossing,

Associated British Foods plc 20a Governance Kings Plaza, Brooklyn

Associated British Foods plc 20b Governance Sawgrass Mills, Miami

Associated British Foods plc 20c Governance Associated British Foods plc 21 Governance 03

Associated British Foods plc 22 ILLOVO SUGAR AFRICA LAND RIGHTS POLICY

Associated British Foods plc 23 Social HUMAN RIGHTS POLICY

Associated British Foods plc 24 Social TWININGS COMMUNITY NEEDS ASSESSMENT

Associated British Foods plc 25 Social THE SUPPLY CHAIN WORKER

Associated British Foods plc 26 Social Associated British Foods plc 27 Social Associated British Foods plc 28 Social SAFE WORKING ENVIRONMENT

Associated British Foods plc 29 Social DIGNITY AND RESPECT

Associated British Foods plc 30 Social FREE FROM DISCRIMINATION

Associated British Foods plc 31 Social FREEDOM TO CHOOSE YOUR EMPLOYER

Associated British Foods plc 32 Social CHILDREN IN SCHOOLS, NOT FACTORIES

Associated British Foods plc 33 Social FREEDOM TO ORGANISE

Associated British Foods plc 34 Social WORKING HOURS THAT ARE NOT EXCESSIVE

Associated British Foods plc 35 Social WAGES MEET LEGAL REQUIREMENTS OR INDUSTRY BENCHMARKS

Associated British Foods plc 36 Social THE POWER OF PARTNERSHIPS

Associated British Foods plc 37 Social 120+ STRONG TEAM WORLDWIDE

Dedicated ethical trade and environmental sustainability team

Based in our 10 major sourcing countries

Directly recruited and employed

Associated British Foods plc 38 Social RIGOROUS GLOBAL AUDIT PROGRAMME

3,000 on-site audits each year

Equivalent to 1 inspection every hour of an average working day, 365 days a year

Every follow-up audit is unannounced

Associated British Foods plc 39 Social CONTINUOUS ENGAGEMENT

Every supplier factory inspected at least once per year

Majority have supplied Primark for more than 6 years

Longest-standing relationship more than 22 years

Associated British Foods plc 40 Social Associated British Foods plc 41 Social INDUSTRIAL WORKPLACE RISKS

Associated British Foods plc 42 Social FIRE RISKS

Associated British Foods plc 43 Social HR SYSTEMS

Associated British Foods plc 44 Social RIGHT PEOPLE WITH THE RIGHT SKILLS

Associated British Foods plc 45 Social COVID PANDEMIC – MARCH 2020

£650 million loss in net sales every month stores closed

Without precedent

Urgent action needed

Associated British Foods plc 46 Social SUPPORTING EVERYONE AFFECTED

Associated British Foods plc 47 Social PASHE ACHI SUPPORT PROGRAMME

Associated British Foods plc 48 Social PRIMARK CODE OF CONDUCT

Reflects Ethical Trading Initiative (ETI) Base Code and International Labour Organization (ILO) standards

Rated a leader by ETI for last 9 years

In the top 5% of ETI member brands globally

Associated British Foods plc 49 Social ABF SUPPLIER CODE OF CONDUCT

ILO standards

Land acquisition and community access

Bribery and corruption and other ethical risks

Our businesses continually learn from each other

Associated British Foods plc 50 Social PRIMARK GLOBAL SOURCING MAP

Associated British Foods plc 51 Social PRIMARK GLOBAL SOURCING MAP

Associated British Foods plc 52 Social TWININGS GLOBAL SOURCING MAP

Associated British Foods plc 53 Social AMBITION: ZERO HARM

Associated British Foods plc 54 Social SAFETY IN THE WORKPLACE

2005: average LTI 1 in 42

2020: average LTI 1 in 300

7x lower

Associated British Foods plc 55 Social COVID RESPONSE

Associated British Foods plc 56 Social ILLOVO HEALTHCARE

Access to healthcare for >100,000 people

Across 6 countries

Only health service available

Around 500k outpatient visits last year

Associated British Foods plc 57 Social GENDER DIVERSITY

53% of all roles are held by woman

37% of top 2,400 senior managers are women

Primark: 73% of all roles and 54% of senior management roles are held by women

Associated British Foods plc 58 Social 04

Associated British Foods plc 59 ABF TOTAL SCOPE 1 & SCOPE 2 EMISSIONS

Associated British Foods plc 60 Environmental SUGAR AND ENERGY

83% of ABF’s total annual energy consumption

55% of ABF’s total energy consumption from renewable sources

Associated British Foods plc 61 Environmental ABF TOTAL SCOPE 1 EMISSIONS

Associated British Foods plc 62 Environmental ABF TOTAL SCOPE 2 EMISSIONS

Associated British Foods plc 63 Environmental ABF TOTAL SCOPE 1 + SCOPE 2 EMISSIONS

Associated British Foods plc 64 Environmental ABF TOTAL REPORTED SCOPE 3 EMISSIONS

Associated British Foods plc 65 Environmental AB SUGAR: 58% OF ABF TOTAL SCOPE 1 + 2 EMISSIONS IN 2020

Associated British Foods plc 66 Environmental Environmental

Associated British Foods plc 67 Environmental AB SUGAR: 30% GHG REDUCTION BY 2030

End-to-end across supply chain in absolute terms against 2017/18 baseline

Further efficiency measures: around 50% of planned reduction

Innovation in energy sourcing mix: around 50% of planned reduction

Associated British Foods plc 68 Environmental PRIMARK: >30% GHG REDUCTION BY 2030

Associated British Foods plc 69 Environmental PRIMARK: DOWNSTREAM SCOPE 3

Vast majority of stock transported by sea

In store model: no direct-to-consumer fulfilment network, no last-mile distribution, significantly lower customer returns

Associated British Foods plc 70 Environmental SINGLE-USE PLASTIC

Associated British Foods plc 71 Environmental NEXT UP: Q&A

Associated British Foods plc 72