ATLANTIC GRUPA

Company of Added Value

Investment Conference of Zagreb and Ljubljana Stock Exchanges

6 May 2014, Zagreb

CONTENT

OVERVIEW OF ATLANTIC GRUPA

FINANCIAL OVERVIEW IN 2013

FINANCIAL OVERVIEW IN Q1 2014

STRATEGIC GUIDANCE

2

ONE OF THE LARGEST FOOD AND BEVERAGES COMPANIES IN THE SEE REGION

Key business segments: Key brands:

The leading coffee producer in the region GRAND KAFA, BARCAFFE

Prominent European company in the sports nutrition MULTIPOWER

Among the leading soft drinks producers in the region CEDEVITA, COCKTA, DONAT Mg

Among the leading confectionary & snacks producers in the region SMOKI, NAJLEPŠE ŽELJE, BANANICA

Among the leading savoury spreads producers in the region ARGETA

Producer of the No1 Croatian brand in the VMS segment DIETPHARM

The leading private pharmacy chain in Croatia FARMACIA

The leading FMCG distributer in the SEE region International Brands (Ferrero, Wrigley, Unilever, ...)

Business

Fast Moving Consumer Goods

Headquarters

Zagreb, Croatia (Europe)

Foundation

1991

No of employees

4,228

FY13 sales

HRK 5,051 millions

Key Markets

SEE region, Western Europe, Russia

presence on over 40 markets

Production locations

14 production locations in Croatia, Slovenia, Bosnia and

Herzegovina, Serbia, Macedonia and Germany

The region includes: Croatia, Slovenia, Bosnia and Herzegovina, Serbia, Montenegro, Macedonia and Kosovo.

3

4

DEVELOPMENT CYCLE: EXTENSIVE M&A TRACK RECORD

Acquisition of Kalničke vode Bionatura

Acquisition of DROGA KOLINSKA

Acquisition of pharmacies – Farmacia

IPO

Acquisition of Fidifarm & Multivita

Representative office Moscow

Acquisition of Haleko & Power Gym:

MULTIPOWER

2010

2010

2008/9

2007

2007

2006

2005

Acquisition of Melem

Atlantic Slovenia

Atlantic Macedonia

Acquisition of Neva

Acquisition of CEDEVITA

Atlantic Serbia

Representative office B&H

2004

2004

2003

2003

2001

2001

2001

Cooperation Johnson & Johnson

Cooperation Duracell

Distribution center Rijeka

Distribution center Osijek

Distribution center Split

Cooperation Wrigley

1999

1996

1994

1994

1992

1991

DIS

TR

IBU

TIO

N

DIS

TR

IBU

TIO

N &

PR

OD

UC

TIO

N

VE

RT

ICA

L I

NT

EG

RA

TIO

N

European company

National company

Regional company

2010*: Pro-forma consolidated with Droga Kolinska.

8 43 88 129 202 250 273 313460

611 675 7621,085

1,3941,670

2,0032,199 2,269

4,5134,728

4,930 5,051

0

1,000

2,000

3,000

4,000

5,000

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2010* 2011 2012 2013

Sales in HRKm

CAGR 1993-2013:

+38.0%

ATLANTIC GRUPA’S BUSINESS MODEL TODAY

SBU

COFFEE

From 2014 the company's business operations are organized in six Strategic Business Units (SBU), one Business Unit (BU), five

Strategic Distribution Units (SDU) and two Distribution Units (DU), allowing the company to manage its production and distribution

operations more effectively

SBU

BEVERAGES

SBU

SPORTS AND

FUNCTIONAL

FOOD

SBU

PHARMA

AND

PERSONAL

CARE

SBU

SAVOURY

SPREADS

SBU

SNACKS

SDU

Croatia

SDU

Serbia

SDU

HoReCa

Hotels,

Restaurants,

Cafes

SDU

International

Markets*

5

*International markets: markets outside the region (Croatia, Slovenia, Bosnia and Herzegovina, Serbia, Macedonia and Montenegro), Russia and CIS.

BU

BABY FOOD

SDU

CIS

DU

Slovenia

DU

Macedonia

STABLE MANAGEMENT TEAM AND OWNERSHIP STRUCTURE

Supervisory board

Supervisory Board

Audit CommitteeNomination and Remuneration

Committee

Corporate Governance Committee

Mladen VeberSenior Group Vice President

Business Operations

Zoran StankovićGroup Vice President

Finance

Neven VrankovićGroup Vice President

Corporate Affairs

Emil TedeschiPresident of the

Management Board

Strategic Management Council

Deals with vital strategic and operational corporate issues.

Consists of: Board Members, Vice Presidents and General Managers of each SBU

and SDU, Senior Executive Director for Regional KAM and Sales Croatia, the

Secretary General, Executive Directors of Corporate Controlling, IT, Central

Purchasing and Human Resources, and the Head of the Investment Committee.

6

Zdenko

Adrović

Lada

Tedeschi

Fiorio

Siniša

Petrović

Željko

Perić

Franz

Josef

Flosbach

Aleksandar

Pekeč

Vedrana

Jelušić

Kašić

President

of the

Supervisory

Board

Vice President

of the

Supervisory

Board

Member

of the

Supervisory

Board

Member

of the

Supervisory

Board

Member

of the

Supervisory

Board

Member

of the

Supervisory

Board

Member

of the

Supervisory

Board

Management Ownership structure on 31/03/2014

Emil Tedeschi

50.2%

Pension funds18.2%

EBRD8.5%

DEG8.5%

Lada Tedeschi Fiorio5.8%

Management1.2%Others

7.6%

PRODUCT/DISTRIBUTION PORTFOLIO OVERVIEW

7

Co

ffe

e Turkish Coffee

Espresso coffee

Instant coffee

Sa

vo

ury

sp

rea

ds Meat spreads

Fish spreads

Sandwiches

Sn

acks Savoury snacks

Chocolate tablets

Wafers & Biscuits

Bars

Sp

ort

s a

nd

fun

ctio

na

l fo

od

Sports food

Weight management range

Energy range

Body building range

Dis

trib

ution

Own brands

International brands

Be

ve

rag

es Carbonated soft drinks

Vitamin instant drinks

Functional waters

Waters

Tea and Functional tea

Pe

rso

na

lca

re

Body care

Face care

Lip care

Tooth care

Ph

arm

a Food supplements

OTC products

Pharmacy chain

Ba

by f

oo

d

Baby cereals

Milk formula

Tea

Water

Biscuits

ATLANTIC GRUPA’S GREATEST ASSETS

Brands with key market positions - among the top 3 in their category based on latest available data. Market position ranking based on volume (items) market share. Data source: Nielsen

Retail Panel, PharMIS and company data.

8

Croatia

Serbia

Slovenia

Bosnia and

Herzegovina

Macedonia

Germany

Italy

United

Kingdom

Austria

Switzerland

Ukraine

GEOGRAPHIC PRESENCE AND MACROECONOMIC ENVIRONMENT

9

Sales by countries in 2013; *Other regional markets: Macedonia, Montenegro, Kosovo; **Key European markets: Germany, UK, Italy, Switzerland, Austria, Sweden, Spain; Macro data source:

European Commission, European Economic Forecast, Winter 2014; for FX rates - National Bank of Serbia, UniCredit CEE 2Q14, HAAB SEE Outlook March 2014, RBA CEE Strategy 2Q14.

Slovenia

Croatia

Bosnia and

HerzegovinaSerbia

Macedonia+ production facility

in Germany

Overview of production facilities

Croatia24.8%

Serbia24.1%

Slovenia13.6%

Bosnia and Herzegovina

7.2%

Other regional markets*

6.3%

Key European markets**

11.7%

Russia and CIS5.9%

Other markets6.4%

Sales by countries Croatia 2011 2012 2013f 2014f 2015f

GDP 0.0% (2.0%) (0.7%) 0.5% 1.2%

Unemployment 13.5% 15.9% 17.6% 17.6% 17.2%

CPI 2.2% 3.4% 2.3% 1.3% 1.5%

EUR/HRK 7.44 7.52 7.58 7.62 7.62

Serbia 2011 2012 2013f 2014f 2015f

GDP 1.6% (1.5%) 2.1% 1.3% 2.2%

Unemployment 23.0% 23.9% 22.1% 22.3% 21.4%

CPI 11.1% 7.3% 7.9% 4.3% 5.0%

EUR/RSD 101.95 113.13 113.14 117.19 119.94

Slovenia 2011 2012 2013f 2014f 2015f

GDP 0.7% (2.5%) (1.6%) (0.1%) 1.3%

Unemployment 8.2% 8.9% 10.2% 10.8% 10.7%

CPI 2.1% 2.8% 1.9% 0.8% 1.3%

EUR/USD 1.39 1.28 1.33 1.35 1.33

Germany 2011 2012 2013f 2014f 2015f

GDP 3.3% 0.7% 0.4% 1.8% 2.0%

Unemployment 5.9% 5.5% 5.3% 5.2% 5.1%

CPI 2.5% 2.1% 1.6% 1.4% 1.4%

EUR/USD 1.39 1.28 1.33 1.35 1.33

Russia 2011 2012 2013f 2014f 2015f

GDP 4.3% 3.4% 1.3% 2.3% 2.7%

Unemployment 6.6% 5.5% 5.5% 5.9% 6.2%

CPI 8.4% 5.1% 6.8% 5.9% 5.0%

EUR/RUB 41.26 39.94 42.31 49.94 51.11

SALES PROFILE AND BUSINESS ENVIRONMENT

10

Sales by segments and brands in 2013; Business environment source: www.confectionerynews.com, http://uk.synergytaste.com, www.beveragedaily.com, IGD Retail Analysis.

Top 5 factors influencing F&B industry

Collaboration in innovation

Between ingredient and packaging firms and industry

Ethics at eye level

Environmental stewardship, animal welfare and fair play for workers

are among conditions of production that consumers now expect

Rising food prices

Smaller grain stockpiles, a growing population, increased demand for

animal protein and a changing climate disrupt supply/demand balance

Food taxes and subsidies

Balance taxes on less healthy foods with subsidies for healthy ones

Simple ingredients

Key retail trends

Shoppers hungry for value

Online, digital and multi-channel

Redefinition of private label

Making the most of events

Focus on the store environment

Principal brands15.0%

Sports and Functional

Food15.5%

Pharma & Personal

care 9.7%

Coffee21.5%

Sweet and salted snacks

12.2%

Savoury spreads

9.1%

Beverages 12.9%Baby food

4.2%

Sales by segments

Own brands72.5%

Principal brands15.0%

Private label6.4%

Farmacia6.1%

Sales by brands

FINANCIAL OVERVIEW: 2010 – 2013

11

P&L figures normalized; *Gearing ratio calculated as Net debt/(Total equity+Net debt); ** For FY10 calculated on pro-forma level.

(HRKm) FY10FY10 pro-

formaFY11 FY12 FY13

CAGR FY10

pro-forma - FY13FY13/FY12

Revenues 2,296 4,569 4,774 4,985 5,092 3.7% 2.2%

Sales 2,269 4,513 4,728 4,930 5,051 3.8% 2.5%

EBITDA 202 526 517 559 591 3.9% 5.8%

EBIT 147 276 351 399 425 15.5% 6.4%

Net profit 86 126 70 112 199 16.6% 77.0%

EBITDA margin 8.9% 11.7% 10.9% 11.3% 11.7% +3bp +37bp

EBIT margin 6.5% 6.1% 7.4% 8.1% 8.4% +229bp +31bp

Net profit margin 3.8% 2.8% 1.5% 2.3% 3.9% +116bp +166bp

Net debt 2,496 2,496 2,494 2,353 2,059

Total assets 5,259 5,259 5,355 5,150 5,083

Equity 1,456 1,456 1,512 1,461 1,674

Gearing ratio* 63.2% 63.2% 62.3% 61.7% 55.2%

Net debt/EBITDA** 4.7 4.7 4.8 4.2 3.5

Balance sheet as of YE10 reflected

consolidation of Droga Kolinska, but P&L

accounts were not consolidated in FY10

(consolidation started as of 01/01/2011).

In 2014, the classification of contracted

marketing expenses has changed from

“Marketing and selling expenses” to

decrease in “Sales revenues”, and

classification of support for contracted

marketing expenses has changed from

decrease in “Marketing and selling

expenses” to decrease in “Cost of

merchandise sold”. This reclassification

decreases above presented sales by

HRK 44.9 million in 2013 and HRK 40.9

million in 2012.

GUIDANCE TRACK RECORD

12

Atlantic Grupa listed on the Zagreb Stock Exchange on

19th of November 2007.

Since 2008 Atlantic Grupa publishes guidance for the

following financial year and delivers it.

0

1,000

2,000

3,000

4,000

5,000

6,000

2008 2009 2010 2011 2012 2013

Sales (HRKm)

93% 103% 99%

102%99%

98%

0

1.000

2.000

3.000

4.000

5.000

6.000

Sales EBITDA EBIT

4.930

559399

4.964

550385

Reported Guidance99%

102%104%

0

100

200

300

400

500

600

700

2008 2009 2010 2011 2012 2013

EBITDA (HRKm)

100%98% 101%

98%102%

101%

0

1.000

2.000

3.000

4.000

5.000

6.000

Sales EBITDA EBIT

4.930

559399

4.964

550385

Reported Guidance99%

102%104%

0

100

200

300

400

500

2008 2009 2010 2011 2012 2013

EBIT (HRKm)

104%99%

95%

97%

104%101%

0

1.000

2.000

3.000

4.000

5.000

6.000

Sales EBITDA EBIT

4.930

559399

4.964

550385

Reported Guidance99%

102%104%

13

PERFORMANCE ON CROATIAN CAPITAL MARKET

34%

7%

-38%

18%

48%

-47%

3% 0%

-18%

5%

16%

-67%

2%

-1%

-15%

10%

-80%

-40%

0%

40%

2013 2012 2011 2010 2009 2008

Performance on capital marketATGR-R-A

Crobex

Crobex10

The Atlantic Grupa’s share significantly outperformed the growth

of Crobex and Crobex10 and ended 2013 at HRK 718.0, which

was a 34.0% growth within a year.

With the average market capitalisation of HRK 2,178.7 millions,

Atlantic Grupa took the fifth place among the components of the

CROBEX10 stock index in 2013.

* Closing price multiplied by the total number of shares

** Normalized in 2012

0

200

400

600

800

1,000

0

1,000

2,000

3,000

4,000

5,000

6,000

ATGR-R-A vs CROBEX

CROBEX

ATGR-R-A

Points HRK

02/05/2014 31/12/2013

Last price 793.0 718.0

Market capitalization* (HRKm) 2,644.1 2,394.0

Valuation 2013 2012

Last price in reporting period 718.0 536.0

Market capitalization* (HRKm) 2,394.0 1,787.2

Average daily turnover (HRK000) 237.8 201.0

EV (HRKm) 4,504.7 4,187.5

EV/EBITDA** 7.6 7.5

EV/EBIT** 10.6 10.5

EV/sales** 0.9 0.8

EPS** (HRK) 58.5 30.5

P/E** 12.3 17.6

CONTENT

OVERVIEW OF ATLANTIC GRUPA

FINANCIAL OVERVIEW IN 2013

FINANCIAL OVERVIEW IN Q1 2014

STRATEGIC GUIDANCE

14

15

PERFORMANCE BY STRATEGIC BUSINESS UNITS AND STRATEGIC DISTRIBUTION UNITS

* Sales and profitability shown according to AG’s business model valid in 2012 and 2013. Other segments include SDU HoReCa, Russian market and non-allocable

business activities (headquarters and support functions in Serbia, Slovenia and Macedonia) which are excluded from the reportable operating segments. SDU

International Markets’ sales and profitability is presented within SBU to which they relate. The Russian market includes only the baby food product range sales under

the Bebi brand.

** Line item “Reconciliation” relates to the sale of own brands which is included in the appropriate SBU and in SDUs through which the products were distributed.

*** Sales correspond to figures shown in 2013 Audit Report. In 2014, the classification of contracted marketing expenses has changed from “Marketing and selling

expenses” to decrease in “Sales revenues”, and classification of support for contracted marketing expenses has changed from decrease in “Marketing and selling

expenses” to decrease in “Cost of merchandise sold”. This reclassification decreases above presented sales by HRK 44.9 million in 2013 and HRK 40.9 million

in 2012.

(HRKm) 2013 2012 2013/2012

SBU Beverages 652.0 671.9 (3.0%)

SBU Coffee 1,087.2 1,090.7 (0.3%)

SBU (Sweet and Salted) Snacks 617.5 600.5 2.8%

SBU Savoury Spreads 458.8 463.7 (1.0%)

SBU Sports and Functional Food 781.0 680.0 14.9%

SBU Pharma and Personal Care 506.0 481.3 5.1%

SDU Croatia 806.7 876.8 (8.0%)

SDU Slovenia, Serbia, Macedonia 1,938.6 1,930.4 0.4%

Other segments* 423.7 373.2 13.5%

Reconciliation** (2,220.1) (2,238.0) (0.8%)

Sales*** 5,051.3 4,930.4 2.5%

(HRKm) 2013 2012 2013/2012

SBU Beverages 122.2 137.0 (10.8%)

SBU Coffee 238.7 156.7 52.3%

SBU (Sweet and Salted) Snacks 111.8 115.3 (3.0%)

SBU Savoury Spreads 123.3 122.8 0.4%

SBU Sports and Functional Food 22.6 14.4 57.5%

SBU Pharma and Personal Care 47.9 57.3 (16.3%)

SDU Croatia 15.2 12.6 20.8%

SDU Slovenia, Serbia, Macedonia 82.6 84.5 (2.3%)

Other segments* (173.6) (142.0) 22.3%

Group EBITDA 590.8 558.6 5.8%

16

NET PROFIT IN 2013

1.8 times higher net profit due to:

Significant decrease in interest expense amid successful

refinancing of long-term borrowings completed at the end of

2012.

More favourable movements in foreign exchange rates,

which decreased the previous year’s net foreign exchange

losses arisen primarily due to the depreciation of the

Serbian dinar.

Negative impact had the significant increase in effective tax

rate to 21% from the previous year’s 6% due to the last year

recognised deferred tax asset based on the expected

utilisation of tax losses.

(HRK000) 2013 % of sales 2012* % of sales 2013/2012

EBIT 424,619 8.4% 399,229 8.1% 6.4%

Interest expenses (159,265) (3.2%) (215,371) (4.4%) (26.1%)

FX (gains)/losses – net (12,201) (0.2%) (63,935) (1.3%) (80.9%)

EBT 253,153 5.0% 119,923 2.4% 111.1%

Current tax (42,737) (0.8%) (25,975) (0.5%) 64.5%

Deferred tax (11,422) (0.2%) 18,511 0.4% n/a

Net income 198,994 3.9% 112,458 2.3% 76.9%

Minority interest (4,122) (0.1%) (10,882) (0.2%) (62.1%)

Net income II 194,872 3.9% 101,576 2.1% 91.8%

0

50

100

150

200

250

2013 2012

199

66

199

112

Net profitNormalized Net profit

HRKm

*Normalized

17

FINANCIAL INDICATORS IN 2013

(HRKm) 2013 2012

Net debt 2,059.3 2,353.1

Total assets 5,082.8 5,149.5

Total Equity 1,674.5 1,461.4

Current ratio 1.8 1.8

Gearing ratio 55.2% 61.7%

Net debt/EBITDA* 3.5 4.2

Interest coverage ratio* 3.7 2.6

Capital expenditure 100.0 78.8

Cash flow from operating activities 420.0 296.0

The company's focus on a continued deleveraging

Overview of capital expenditure:

SBU Coffee: automation of the line for coffee and purchase of espresso and Coffee 2 Go machines,

SBU Snacks: investment in the flips packaging machine, investment in the equipment for the production of pellets and purchase of line for the

production of fillings,

SBU Beverages: investment in the line for packaging multi-packs of Donat Mg, investment in the equipment for the production of the Donat Mg

new bottle, purchase of automated line for packaging Cedevita granules,

SBU Pharma and Personal care: refurbishment of pharmacies and specialised stores and

Other: investments related to the HRIS system (human resources information system) and the project of developing, implementing and relocating

the regional data centre in Zagreb.

* Normalized in 2012

Capital and reserves32.9%

Long term borrowings

36.5%Short term borrowings7.6%

Bond2.3%

Trade and other payables

14.5%

Other liabilities6.2%

Equity and liabilities structure as at 31/12/2013

CONTENT

OVERVIEW OF ATLANTIC GRUPA

FINANCIAL OVERVIEW IN 2013

FINANCIAL OVERVIEW IN Q1 2014

STRATEGIC GUIDANCE

18

19

FINANCIAL OVERVIEW IN Q1 2014

* Other segments include SDU HoReCa, SDU CIS, BU Baby Food, DU Macedonia and business activities not allocated to business and distribution units (headquarters and support

functions in Serbia, Slovenia and Macedonia) which are excluded from the reportable operating segments.

** Line item “Reconciliation” relates to the sale of own brands which is included in the appropriate SBU and BU and in SDUs and DUs through which the products were distributed.

*** In 2014 the classification of contracted marketing expenses has changed from “Marketing and selling expenses” to decrease in “Sales revenues”, and classification of support for

contracted marketing expenses has changed from decrease in “Marketing and selling expenses” to decrease in “Cost of merchandise sold”. In accordance with these changes, sales

revenue (referring to sales from distribution company Atlantic Trade Zagreb) for segment information for the three month period ended 31 March 2013 has also been restated, but no

restatement has been made for sales revenue referring to SBU Savoury Spreads on markets outside the region and BU Baby Food due to immateriality.

(HRKm) Q1 2014 Q1 2013***Q1 2014/

Q1 2013

SBU Beverages 130.6 128.2 1.8%

SBU Coffee 211.8 224.8 (5.8%)

SBU (Sweet and Salted) Snacks 133.3 144.0 (7.4%)

SBU Savoury Spreads 87.1 91.0 (4.3%)

SBU Sports and Functional Food 206.4 194.8 5.9%

SBU Pharma and Personal Care 120.1 112.1 7.1%

SDU Croatia 164.9 139.6 18.2%

SDU Serbia 232.8 250.1 (6.9%)

SDU International markets 67.9 71.6 (5.2%)

DU Slovenia 152.6 122.7 24.3%

Other segments* 176.3 177.7 (0.8%)

Reconciliation** (559.4) (576.4) (3.0%)

Sales 1,124.3 1,080.2 4.1%

Key highlights (HRKm) Q1 2014 Q1 2013***Q1 2014/

Q1 2013

Revenues 1,132.4 1,091.9 3.7%

Sales 1,124.3 1,080.2 4.1%

EBITDA 119.7 112.0 6.9%

EBIT 85.7 75.6 13.4%

Net profit 32.3 30.3 6.6%

EBITDA margin 10.6% 10.4% +28 bp

EBIT margin 7.6% 7.0% +63 bp

Net profit margin 2.9% 2.8% +7 bp

20

NET PROFIT IN Q1 2014

6.6 % higher net profit due to:

The impacts above the EBIT level,

Significant decrease in interest expense by 11.0% due to a

successful refinancing of long-term borrowings completed at

the end of 2012 and

Decrease in the effective tax rate to 20% from the previous

year’s 28%.

The negative impact was made by foreign exchange losses

arisen primarily due to the depreciation of the Serbian dinar.

(HRK000) Q1 2014 % of sales Q1 2013* % of salesQ1 2014/

Q1 2013

EBIT 85,718 7.6% 75,589 7.0% 13.4%

Interest expenses (36,523) 3.2% (41,042) (3.8%) (11.0%)

FX (gains)/losses – net (8,851) 0.8% 7,514 0.7% (217.8%)

EBT 40,344 3.6% 42,061 3.9% (4.1%)

Current tax (9,627) (0.9%) (6,567) (0.6%) 46.6%

Deferred tax 1,601 0.1% (5,170) (0.5%) n/a

Net income 32,318 2.9% 30,324 2.8% 6.6%

Minority interest (310) 0.0% 105 (0.0%) (396.6%)

Net income II 32,008 2.8% 30,429 2.8% 5.2%

0

5

10

15

20

25

30

35

Q1 2014 Q1 2013

3230

Net profitHRKm

21

FINANCIAL INDICATORS IN Q1 2014

The company's focus on a continued deleveraging

Overview of capital expenditure:

SBU Coffee: purchase of espresso machines and Coffee 2 Go machines, investment in the transport system for ground coffee,

SBU Snacks: investment in the line for the production of fillings, purchase of production equipment for the production of chocolate bars,

SBU Sports and Functional Food: investment in the production plant for the production of bars in Nova Gradiška,

SDU Croatia and SDU Slovenia: investments related to taking over the distribution of Unilever (IT, warehouses, offices).

(HRKm) Q1 2014 2013

Net debt 1,979.7 2,059.3

Total assets 5,078.4 5,082.8

Total Equity 1,710.3 1,674.5

Current ratio 1.7 1.8

Gearing ratio 53.7% 55.2%

Net debt/EBITDA 3.3 3.5

Q1 2014 Q1 2013

Interest coverage ratio 3.3 2.7

Capital expenditure 22.5 16.5

Cash flow from operating activities 111.7 83.0

Capital and

reserves33.7%

Long term borrowings

35.2%

Short term borrowings7.4%

Bond2.2%

Trade and other payables

15.3%

Other liabilities6.2%

Equity and liabilities structure as at 31/03/2014

CONTENT

OVERVIEW OF ATLANTIC GRUPA

FINANCIAL OVERVIEW IN 2013

FINANCIAL OVERVIEW IN Q1 2014

STRATEGIC GUIDANCE

22

23

STRATEGIC GUIDANCE FOR 2014

Strategic

management

guidance

Focus on organic business growth through active brand management with a special emphasis on strengthening

the position of regional brands (Cockta, Cedevita, Smoki, Grand Kafa, Barcaffe, Bananica, Štark) and brands with

international potential (Multipower, Argeta, Donat Mg, Bebi, Cedevita GO!);

Strengthening the regional character of distribution through the extension of the principals’ brands portfolio;

Active development of the regional HoReCa segment with a portfolio that covers '24/7 consumer needs' and other

sale channels (Online, Etno channel);

Rationalisation of operations, cost management and optimisation of business processes on all operating levels

aimed at improving operating efficiency;

Active monitoring of trends and hedging the price of raw coffee and other raw materials;

Regular settlement of existing financial liabilities with an active management of debt and financial expenses; and

Prudent liquidity management and further deleveraging.

Sales: 3% sales growth at the organic level and sales from the distribution of the Unilever product range of HRK 240 million.

Capital expenditure at HRK 216 million, 46% of which relates to the investment in the new factory of energy bars in Nova Gradiška.

The expected effective tax rate in 2014 should be at the 2013 level.

(HRKm) 2014 Guidance 2013 2014/2013

Sales 5,440 5,051 7.7%

EBITDA 620 591 4.9%

EBIT 460 425 8.3%

Interest expense 140 159 (12.1%)

ATLANTIC GRUPA

Company of Added Value

Investment Conference of Zagreb and Ljubljana Stock Exchanges

6 May 2014, Zagreb