Jubilant FoodWorks Ltd (JFL) Corporate Presentation February 2016 Agenda 2

1. Overview of the Food Industry 2. JFL Overview and Strengths 3. Domino’s – Journey & Positioning 4. Dunkin’ Donuts –Journey & Positioning 5. JFL Financial Highlights 6. Outlook 7. Experienced Team Overview of Food Service Industry Constituents of FSI 4 Chained -USD 2 Bn in 2014 Independent -USD 94 Bn in 2014

Dhabas Fine Dining

Pubs & Lounges

Standalone sweet shops

Cafes

Hawkers Roadside Eateries QSR

Street Stalls Ice cream Parlours Independent Units: Chained Units: 10 or more Other than chained units and international chains Understanding growth within organised FSI 5

2014 – USD 96 Bn 2019 – USD 155 Bn

10% CAGR Independent

13% CAGR

Chained

Chained FSI expected to grow rapidly

(Source: Euromonitor Consumer Food Service Report 2015) Factors contributing to faster growth of Chained FSI 6

Pro-growth Higher Greater Changing an Growth in Business Growth Demographics disposable/ urbanization consumer attractive chained potential in driven by (increased discretionary preferences – proposition retail transit digitization youth income widening for global locations population, exposure to players – nuclear family new cultures more choices & more and cuisines for working consumers women) Factors contributing to growth of chained market 7

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

Large consumption growth relative to emerging markets and developed markets Translating opportunity into growth 8

Capitalising Customising Introducing

On the pedigree The palette New products of the with local on a regular global brand flavors basis

Jubilant FoodWorks Ltd

Developing Delivering Focusing

A unique model Operational On enticing through home excellence- customers with delivery & consistency of evolving mktg dine-ins product and service strategies

Systematic approach to deliver sustainable growth Overview of Jubilant FoodWorks Overview of brands at JFL 10

Jubilant Domino’s Pizza (Founded in 1960) FoodWorks Dunkin’ Donuts (Founded in 1950)

 More than 12,100 franchised and Company-  More than 11,500 Restaurants in more than owned Restaurants in more than 80 Presence Across 40 countries international markets Countries

Beginning of  1st Restaurant operated in India in Mar’96  1st Restaurant operated in India in Apr’12 Restaurants in India

 70 Restaurants across 24 Indian cities*  1,004 Restaurants across 230 Indian cities* Presence in India  Present in Delhi, NCR, Chandigarh, Punjab,  India is currently the biggest market for Uttarakhand, , Maharashtra, Domino’s Pizza outside the United States Karnataka , Gujarat and Goa, Telangana, Madhya Pradesh, Tamil Nadu and Gujarat  Exclusive right to open Domino’s Pizza  Alliance provides exclusivity to operate and restaurants in India, Sri Lanka, Bangladesh Contract Details develop Dunkin’ Donuts restaurants in India. and Nepal The agreement is for a period of 15 yrs  Current franchising agreement till December (ending December 2026) with the option of 2024 with right of renewal for another 10 renewal for 10 yrs years

* As of 11 February, 2016

Accumulated learning's to drive ramp-up in Domino’s Pizza & Dunkin’ Donuts Our Pillars 11

Driven by Consumer Focus Operational and Innovative Centralized Excellence Marketing Procurement Innovation & Control Human Resource Robust Project management Corporate Management driving growth Governance Competency Mechanism

Accumulated learning's to drive ramp-up in Domino’s Pizza & Dunkin’ Donuts Driving Operational Excellence 12

ROBUST INFRASTRUCTURE

OPERATIONAL EXCELLENCE

Delivering consistency in product and services to delight our customers Our robust supply chain management 13

Vendors and Central Location Partners

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

Raw Materials Restaurants

New!

New!

New! * As of 11 February, 2016

Planned

An integrated supply chain for Domino’s Pizza and Dunkin’ Donuts adapted to Indian conditions; well-equipped to deal with geographic and demand expansion Channeling Human Resources for Growth 14

Team members act as brand ambassador imbibing JFL’s values, ethics and culture Robust corporate governance mechanism 15

Composition of Board with professional acumen

Institutionalised Nurturing Whistle Blower Enterprise Risk mechanism Management

Corporate Governance Mechanism

Robust audit and Code of Review Conduct/no gift Mechanism policy

Established Internal Control mechanism

Truly inculcated mechanism of corporate governance Site selection & Restaurant construction process 16

Identify new Average restaurant opening/ restaurant construction time is between Restaurant location 35-45 days from the date of opening possession of premises for a new restaurant location

Local advertisement Operational (distribution of Training of and Financial flyers, regional team Diligence media coverage) members

Construction/ Negotiate Purchase and with installation of landlords machinery

Handover of Legal due restaurant to diligence and contractor for agreement sign off interiors with landlords

ROI/Payback period analysis undertaken prior to opening a restaurant Innovation 17 Custard Bliss Crunchy Joe Burger Range of coffees

Product Innovation

Double Cheese Crunch Pizza Zingy Parcel Breakup Party Éclair!

• Open Kitchen Theme Innovation • Flexible Seating • Heritage Wall

Technology Innovation

Innovating to keep the excitement alive Consumer-Focused and Innovative Marketing 18

Local Store Marketing Customer Relationship National Marketing Digital Marketing (LSM) Management

. Television . 6.6 million . Door Hangers . “One to one” . Print Media & Facebook fans . Flyers marketing utilizes Radio (including . 108k + followers . Customer lifecycle information from regional on Twitter management point-of-sales language) . 12.3 mn views for programme software system . Emotional videos of . Innovative BTL to provide positioning of Domino’s Pizza activation relevant ‘Yeh hai Rishton India on YouTube (restaurant customized ka Time’ targeted) communication/ . Innovative new offers to product consumers development and launches

Domino’s Pizza – Overview Domino’s Pizza’s Evolution in India 20

Mastering the on- Providing value by Popularizing the tapping the middle pizza concept by time home delivery model classes through the customizing it to affordable ‘Fun Reaching out to the Indian palette Meal’ and the Striking an emotional more people by ‘Pizza Mania’ range chord with consumers launching unique through its campaigns mobile included ‘Hungry applications Kya?’, ‘Khushiyon ki Home Delivery’ and the latest one ‘Yeh Hai Rishton Ka Time’ Mapping the Domino’s leadership story in India 21

Revenue 8 Yr CAGR (FY08-FY15) 39%

350 1998: Launched 2003: Launched Aug 2008: Launch of new 2012: Launch of new positioning 1000 "Hungry Kya?" "30 Min or Free" positioning "Khushiyon Ki Home “Yeh Hai Rishton Ka Time” campaign campaign Delivery" Nov 13: 900 Fresh 876 300 Pan Pizza July 13: Aug 2008: Launch 2009: CLC, Pasta & 2012: Taco Indiana & 800 of Rs.35 Pizza Choco Lava Lebanese Roll Launched BOGO Mania Launched Wed 726 250 700

600 200 576 465 500 2005: Ajay Kaul 150 Manageme appointed as 378 No.of Restaurants nt Changes CEO 400 306 Pizza 300 100 241 Theatre 182 Feb 2010: 200 50 100 80 93 IPO Largest market 100 2 outside U.S. 0 0 FY96 FY01 FY04 FY05 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 Revenue Restaurants

Initial Phase Consolidation Planned Growth Aggressive Growth Innovation in service-New Restaurant Design 22

Pizza Theater

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

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

Heritage Wall . Indicating more than 60 years Old Brand Innovation in offerings 23

Chef’s Inspiration- Exotic Italian Pizza -Co-created by Chef Vikas Khanna and Domino’s chefs

Milan Veg Fantasy Florence Chicken Exotica

Roman Veg Supreme Naples Chicken Special Innovation in offerings 24 Double Cheese Crunch Pizza Fresh Pan Pizza in Regular size

Zingy Parcel Taco Mexicana Custard Bliss

Subwich Junior JoyBox Domino’s Pizza Customer touchpoints 25

National Delivery Number

Restaurant Restaurant

3600 Pizza mode of Mobile Theatre customer App outreach

Online Delivery ordering The OLO Connect 26

Q3 FY15 Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16

Average OLO contribution to delivery sales 27% 29% 33% 36% 36%

Mobile Ordering sales contribution to overall OLO 21% 23% 28% 30% 38%

Downloads of mobile ordering app 2.3 mn 2.6 mn 3.1 mn 3.5 mn 3.7 mn

Accessible through all platforms Dunkin’ Donuts – Overview Dunkin’ Donuts & more - All Day Part Menu 28

12 11 1 10 2

9 3

8 4 7 5 6 Dunkin’ Donuts - Positioning 29

 “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

 Positioning strategy to be further extended to entire range of offerings Dunkin’ Donuts- New launches 30

Choco Fix Donuts

Donuts

Voodoo Wraps (Veg & Non Veg) Too Much Burgers

Food Crunchy Joe Burger

Salty Jamoonade Virgin Mojito Coolatta

Beverages

Salty Classic Lemonade Coolatta Dunkin’ Donuts- New initiatives 31 Online Ordering in Delhi -NCR

OLO / Alliance with Grofers Tie- up with online delivery platform Grofers to deliver Dunkin’ Donuts’ fresh donuts to consumers' doorsteps. Tie-up with Zomato for online order taking Financial Highlights- Jubilant FoodWorks Growth & Key Trends 33 All figures in Rs mn

Total Income EBITDA (LHS) EBITDA% (RHS)

25,000 3,000 18.7% 20% 17.7% 17.4% 2,628 2,551 18% 20,745 2,500 15.7% 20,000 2,444 16% 17,922 17,235 14.8% 2,101 14% 2,000 1,906 12.7% 11.7% 15,000 14,073 12%

1,500 10% 10,171 1,202 10,000 8% 1,000 6,781 6% 664 5,000 4,239 4% 500 37% CAGR 32% CAGR 2%

0 0 0% FY10 FY11 FY12 FY13 FY14 FY15 9M FY10 FY11 FY12 FY13 FY14 FY15 9M FY16 FY16

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 Growth & Key Trends 34 All figures in Rs mn

PAT (LHS) PAT % (RHS) Networth 1,600 12% 8,000 7,220 10.6% 10.4% 1,400 7,000 6,711 1,351 9.6% 10% 1,258 1,233 1,200 6,000 5,635 7.8% 1,056 8% 1,000 7.3% 5,000 851 4,362

800 720 5.9% 6% 4,000

600 4.7% 2,996 4% 3,000

400 330 1,914 2,000 2% 1,174 200 30% CAGR 1,000 42% CAGR 0 0% FY10 FY11 FY12 FY13 FY14 FY15 9M - FY16 FY10 FY11 FY12 FY13 FY14 FY15 H1 FY16

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 Growth & Key Trends 35

No. of Employees No. of Restaurants 1,060* 1,074** 30,328 930 24,969 27,122 752 19,734 586 14,626 465 11,514 378 8,196 306

FY10 FY11 FY12 FY13 FY14 FY15 9M FY16

Same Store Sales Debt-Equity ratio Growth (SSG) 3.4 37% 30% 22% 16% 0.1 0 0 0 0 0 0 2% 0.05% 3.3%

FY10 FY11 FY12 FY13 FY14 FY15 9M FY16 FY09 FY10 FY11 FY12 FY13 FY14 FY15 9M FY16

• *Total No of stores includes 990 Domino's Pizza stores + 70 Dunkin’ Donuts Restaurants (as of 31 December 2015) • **Total No of stores includes 1,004 Domino's Pizza stores + 70 Dunkin’ Donuts Restaurants (as of 11 February, 2016) Outlook The Way Forward 37

Committed towards Strengthen supply Brand building and Committed to long Portfolio Expansion network expansion chain & mfg product innovation term growth capabilities Continue to evaluate For FY16, target of Sustained efforts to Leverage business international renowned around 150 new Necessary investments conduct brand building strengths and expertise brands around QSR/ Domino’s Pizza and 20- towards fortification of initiatives and drive to create a profitable Casual Dining for 22 new Dunkin’ Donuts. business foundation to consumer awareness and sustainable future bringing them to India. Successfully launched enable JFL to take through multipronged for the company Alternatively explore 128 Domino’s Pizza and advantage of demand marketing strategy starting own brand or 16 Dunkin’ Donuts potential acquiring/ investing in restaurants YTD some promising domestic brand Annexures: -Experienced Team -Awards Board of Directors 39

Mr. Shyam S. Bhartia (Chairman & Director)  Has experience in the pharmaceuticals and specialty chemicals, food, oil and gas, aerospace and IT sectors  Bachelor’s degree in commerce St. Xaviers College, Calcutta University; Fellow member of the ICWAI

Mr. Hari S. Bhartia (Co-Chairman & Director)  Has experience in pharma, life sciences & healthcare, oil & gas (exploration & production), agri & performance polymers, food & retail and consulting services in aerospace and oilfield services  Bachelor’s degree in chemical engineering from IIT, Delhi

Mr. Ajay Kaul (CEO and Wholetime Director)  Has experience in India and abroad in industries such as financial services, airlines, express distribution, logistics and food retail  Bachelor’s Degree in Technology from IIT Delhi and MBA from XLRI, Jamshedpur

Mr. Vishal Marwaha (Independent Director)  He has expertise in private equity and investment banking.  Bachelor’s degree in commerce from the University of Delhi and is a qualified chartered accountant Board of Directors 40

Ms. Ramni Nirula (Independent Director)  Has experience in the banking and finance industry including Project Financing, Strategy, Planning & Resources and Corporate Banking  Bachelor’s degree in economics and MBA from University of Delhi

Mr. Phiroz Vandrevala (Independent Director)  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  He is a graduate from Kolkata and a qualified Chartered Accountant

Mr. Arun Seth (Independent Director)  He has commercial and technical expertise in the IT and telecommunications industry in India.  Holds a bachelor’s degree in engineering from IIT, Kanpur and MBA from IIM, Calcutta Heads of Departments 41

Ravi S. Gupta (President & CFO)  Spearheading finance & accounts, legal, secretarial, strategy , M&A, IT, and investor relations  Ravi Gupta has over 24 years of experience in Corporate Finance, strategy and accounting and Information Technology, of which 13 years have been with JFL  He holds bachelor’s degree in commerce from Shri Ram College of Commerce, Delhi University, Diploma in Business (Finance) and is also a fellow member of ICAI and Associate member of ICMA and ICSI.

Mr. Tarun Bhasin (President & COO –Domino’s Pizza)  Responsible for operations and business development, project and maintenance, training and customer service, quality & Six Sigma for India  Has over 22 years overall experience out of which 19 years have been with the Company  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 & COO -Dunkin’ Donuts)  Responsible for Operations & business development, training & customer service, quality and Six Sigma, marketing, new product development and HR  Has over 16 years overall experience out of which over 9 years have been with the Company  He holds a BE degree from Bangalore University and also holds a PGDBM (Marketing and Operations) diploma from IMT, Ghaziabad.

Mr. Avinash Kant Kumar (Executive Vice President, Supply Chain)  Responsible for supply chain, commissary management and procurement  Has over 21 years overall experience in Supply Chain, Logistics, Procurement & Sales. He has experience in setting up two start-up companies. He has joined JFL in 2014  He has done B.Tech. (Hons.) from IIT Kharagpur & PGDIE from NITIE,Mumbai. Heads of Departments 42

Biplob Banerjee (Executive Vice President, HR & CSR)  Currently responsible for HR & CSR  Has over 21 years of overall experience and have recently joined JFL in May’15  He holds a Masters in Business Administration degree from XLRI, Jamshedpur and is a graduate (Mechanical Engineering)

Murugan Narayanaswamy (Sr Vice President, Marketing - Domino's Pizza) He is responsible for brand management, new product development and national marketing  Has over 18 years overall experience (including 16 Years of Experience in Food Industry)and have recently joined JFL in Oct’15  He has done BE from BITS Pilani and PGDM from XIM Bhubaneswar.

Arvind Vats (Sr Vice President, Management Assurance , FP&A and Investor Relations)  Responsible for management assurance, corporate governance, FP&A, Investor relations, administration and corporate affairs  Has over 21 years overall experience out of which 10 years have been with the Company  He is a CA, ICWA, MBA (Finance) from IGNOU and PGDBM from IMT Awards 43

Winner of the Won 4 prestigious Three finalists at Effie’s prestigious ‘Images Awarded the ‘Genius categories at World HRD 2014, India’s most Most Admired Food HR Excellence Awards Congress 2015: Prestigious Service Group of the 2014’ for • “Dream Companies to Marketing Year’ at the Coca Cola Best HR Practices Work for” in Retail Category Effectiveness Award, Golden Spoon hosted in collaboration • Organisation with placing JFL in the list of Awards 2015 for the with The Times Innovative HR Practices top 30 Marketers in second consecutive of India. • Diversity Impact Award India. year. • Fun at Work Award

In the Asia Pacific Region, Domino’s Pizza Ranked 7th in the Inc. recognised IDC insights Award “Great Place to Work “ DPI with the following 2015 for Excellence in India survey in retail awards: Innovation sector Trainer of the year Rookie Manager of the year.

first edition of “Golden Domino’s Pizza India Dunkin' Donuts has Peacock Award for has won the Best won the prestigious Awarded the CSR Risk Management Customer Service by award for featuring Initiative of the year 2015” by the Institute Restaurant / Cafe amongst Delhi NCR's award at the Annual of Directors(IOD)- India Award, at The Indian Hot 50 Brands at the Indian Retail Awards at the “National Restaurant Awards Delhi NCR Brand organised by Franchisee Convention on Risk 2015 which was summit presented by India Management" and the organized by Franchise One India on 28th “Golden Peacock India August, 2015 Awards Nite

Dunkin' Donuts Domino’s Pizza India has MTM Corporate Star Award awarded at the Images won the Customer 2015 in the Best Incentive Retail Awards for 'Best Service Excellence Programme for Marketing and Award at The Annual Employees/Associates Promotions', hosted by Indian Retail Awards category, organized by India Retail Forum OptiMICE Events Pvt Ltd Thank You