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Presentation 2020 Disclaimer Facts Behind the Figures PRESENTATION 2020 DISCLAIMER This presentation contains forward-looking statements with regard to the financial position and results of Nigerian Breweries activities. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Nigerian Breweries ability to control or estimate precisely, such as future market and economic conditions, the behaviour of other market participants, changes in consumer preferences, costs of raw materials, interest rate and foreign exchange fluctuations, change in tax rates, changes in law, changes in pension costs, the actions of government regulators and weather conditions. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Nigerian Breweries does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of these materials. Market share estimates contained in this presentation are based on outside sources in combination with management estimates. CONTENT 1. Nigerian Breweries Plc 2. Market Overview 3. Our strategy to win 4. Financial Results 5. 2021 Outlook Nigerian Breweries Plc. at a glance NGN 234.0bn NGN 162.2bn Net revenue Net assets NGN 22.6bn 1.6x c. 3,100 Operating profit Net debt/EBITDA Employees Figures as of 30th September 2020 ...listed on The Nigerian Stock Exchange, with a strong Board and Corporate governance Key Numbers Market Capitalisation (Naira) Shareholders N391bn Market Capitalisation Audit Committee (US Dollar) $1bn Board of Directors Number of Shareholders 111,600 Independent Non- Heineken N.V. Non-Executive Non-Executive Executive Company Executive Shareholding Chairman Directors (4) Directors (2) Secretary 56% Directors (3) Institutional & Retail Shareholders Risk Management Executive Governance & Ethics Committee/ MT Committee 44% Committee (MD/CEO) Katsina Jigawa Yobe Zamfara Kano Well diversified Kebbi Bauchi Kaduna Gombe Niger footprint Adamawa Abuja Plateau Kwara Nasarawa Oyo Taraba Ekiti Kogi Osun Benue 18 Sales regions Ogun Ondo Edo Enugu With National Coverage Ebonyi Lagos Anambra Cross Delta Abia Imo River NB Breweries Rivers NB Malting Plants Bayelsa Akwa Ibom WEST ZONE EAST ZONE NORTH ZONE #1in Malt, #2 in Lager and Stout #1 in Malt, #2 in Lager and Stout #1 Lager, Stout and Malt 4 breweries 3 breweries and 1 malting plant 2 breweries and 1 malting plant Source: Retail Audit NB Management Team | Diverse Experiences and Rich Perspectives Grace OMO- Martin KOCHL Sade MORGAN Uaboi AGBEBAKU LAMAI Supply Chain Corporate Affairs Director Company Secretary & HR Director Director Legal Director Jordi BORRUT BEL Managing Director/CEO Rob KLEINJAN Phil ANEKE Emmanuel ORIAKHI Uche UNIGWE Finance Director Digital and Technology Marketing Director Sales Director Director Nigeria, Africa’s largest economy, is truly an attractive market Population of Nigeria (2010 – 2020) Real GDP by Country (2009 – 2019) (million people) (Billion USD) Age <35 yrs 500 2020 206 77.4% Nigeria 2019 201 77.4% South Africa 2018 196 77.3% 400 2017 191 77.2% 2016 186 77.2% 300 77.1% 2015 181 Egypt Remittance Inflows 200 Algeria (% of GDP) 6.1 100 2.9 Sudan Rest of Africa 0.2 0.6 0.3 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Nigeria Brazil Mexico Russia South Africa Source: CBN, NBS and World Bank Estimate A country not without its challenges… Country inflation has hit a 29-month all time Oil prices (9% of total GDP) on the decline, high of 14.23% in October 20, driven by food impacting GDP growth prices Oil price, GDP growth, exports and government revenues Annual headline inflation (Percent GDP) (y-o-y Percent) 18 17 16 Food CPI 15 14 13 CPI 12 11 Non-Food 10 CPI 9 8 Jul-19 Jul-20 Jan-19 Jan-20 Jun-19 Jun-20 Oct-19 Oct-20 Apr-19 Apr-20 Feb-19 Sep-19 Feb-20 Sep-20 Dec-19 Aug-19 Aug-20 Nov-19 Mar-19 Mar-20 May-19 May-20 Source: CBN, NBS and World Bank Estimate, 2020 …with COVID-19 having far reaching effects As unemployment accelerates… … and population growth remains ahead of GDP growth rate Unemployment rate Nigerian Real GDP growth rate (y-o-y Percent) (y-o-y Percent) 27.1 24.8 23.1 +3.4% +4.5% Population 18.8 growth rate 14.2 9.9 2.7 6.4 2.6 2.2 1.9 2014 2015 2016 2017 2018 2019 2020 (LP) 0.8 2015 2016 2017 2018 2019 2020 (f) 2021 (f) 27% 79% UNEMPLOYMENT HOUSEHOLDS RATE REPORT INCOME Q2 ‘20 LOSS -1.6 (Between Jan and June ‘20) 55.7% 21.7M COMBINED UNEMPLOYED UNEMPLOYMENT/ UNDEREMPLOYMENT -5.4 Source: NPC, IMF, Nigerian Bureau of Statistics (NBS) (August 2020). Nigerian Labour Force Unemployment Rate, August 2020, KPMG COVID Updates, 2020- Beer sector profit pool under pressure Nigerian Beer Market Profit Pool ( Bln Naira) 70,000 60,000 50,000 Historically profit pool contracted due to: 40,000 • Higher taxes 30,000 • Currency devaluation 20,000 • Consumer down trading 10,000 • Material cost inflation Promotional intensity - • 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Q3 -10,000 YTD 2020 -20,000 -30,000 Nigerian Breweries Others 11 2020: Driving growth amidst a pandemic CREATE A WINNING CULTURE COMMERCIAL AGILITY • Stay safe; stay strong • Leverage our strong digital strategy • Workplace flexibility & adaptability • Optimized commercial spend • No redundancy • Flexible sales contact method POSITION FOR GROWTH • Drive Value growth • Strengthen the core • Innovate to penetrate COST EFFICIENCIES OUR COMMUNITY • Sustainability • Deliver cost reduction across all • Relief Aid to the community departments • Donations to health workers • Reduce direct and indirect cost / hl • Sustainable business • Optimizing efficiency Our People : Poised to deliver now & in the future Our employees display great resilience & remain high performing in the face of unique challenges Adapting seamlessly to new ways of working driven by safe best practices and technology Flexibility & Adaptability Our culture delivered great levels of team-work and collaboration to ensure business continuity across all brewery locations and sales regions Courage & Passion Organisational climate impacts positively on employee engagement As a company; our efforts to sustainably engage and motivate our people yield positive results Reward & Provision of Transparent Organisational Climate Recognition Resources Communication Engagement Performance L & D Union engagement My Manager Innovation P.P.E Legendary People Teamwork Intent to stay SC 3rd Party Workers Help Lines Engagement Nearly all aspects of our organisational climate are on the rise An Inclusive & Diverse Workforce Reward & Recognition We recognise the impact of an inclusive & diverse workforce and continue to take steps in that direction During COVID Lock down, we inspired and uplifted our consumers and customers with relevant brand communication We stayed connected, engaging our consumers through digital Leveraging strong brand platforms, brand Ambassadors and micro influencers #HeinekenDesignContest #UncageYourHome #ShineShineBobo #BeYourBest Our strategy to win 1. Drive premium growth with Heineken and Tiger 2. Strengthen the core, our mainstream brands 3. Innovate in beer and beyond to drive penetration 4. Sustainability at the heart of our business Drive value growth with Heineken® & Tiger 1. Leverage global platforms to connect with young consumers 2. Engaging consumers with relevant content 3. Drive penetration with Gen Zs Connecting with consumers through premium platforms… And uncaging Gen Z with unconventional collaborations Strengthen the core 1. Leverage regional strongholds with our mainstream brands 2. Rejuvenate Leading mainstream brands: Life and Goldberg 3. Supporting our customers with back to bar initiatives We relaunched Life with an epic bridge light up ceremony and community engagement… …with recent relaunch of Goldberg consistently delivering growth Double digit Organic growth Vs LY Strong performance of stout brands in the midst of the pandemic Innovate for growth 1. Differentiate in the Malt Category 2. Innovate with new beer styles 3. Reinforce our status as a multi- category company Sustain leadership in Malt Excite and disrupt the category with differentiated malt propositions to give consumers choice Increase participation in Energy Play in high value category to protect profit pool Creating & shaping the beer mixes/FAB category Making beer cool again and addressing unmet consumer needs in beer Brewing a Better World Installation of telematics When You Drive, Never in all vehicles and driver Drink Campaign trainings 97% packaging materials Water treatment plants in and over 53% of raw 7 out of our 10 production materials sourced locally sites Significant CSR investment 70% thermal energy from in Education, Health and renewable energy sources Poverty Alleviation by 2030 N100M spent on directly Zero Waste to Landfill supplied Community palliatives. Sustainable Packaging practices Winning With Nigeria Through Our COVID-19 CSR Interventions In line with our corporate philosophy of Winning with Nigeria, we made a commitment to support the country in the effort to combat the spread of COVID-19. This we have done via: • Ensuring the safety and wellbeing of our employees, third party workers and business partners. • Donating N600 million to support FG and States to fight the spread of COVID-19 • Supporting
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