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FY2015/16 INTERIM RESULTS

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FINANCIAL REVIEW

Kitty Fung Group CFO

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Disclaimer

In addition to historical information, this presentation contains forward-looking statements with respect to the results of the operations and business of Vitasoy. These forward-looking statements represent Vitasoy’s expectations or beliefs concerning future events and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements.

Vitasoy International Holdings Limited

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A VERY STRONG PERFORMANCE

Net Sales Gross Profit Profit Attributable to Shareholders

+14% +18% +40%

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NET SALES

+14%

0

2,000

4,000

1H FY2014 1H FY2015

2,729

3,117

HK$ million

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NET SALES BY GEOGRAPHY

Hong Kong & Macau

38% → 34%

Mainland China 42% → 49%

Australia & NZ 9% → 7%

North America 9% → 8%

Singapore 2% →2%

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+18% Gross Margin at

GROSS PROFIT

51% 0

1,000

2,000

1H FY2014 1H FY2015

1,353

1,598

HK$ million

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EBITDA

+28%

0

200

400

600

1H FY2014 1H FY2015

412

529

HK$ million

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PROFIT BEFORE TAX

+35%

0

200

400

600

1H FY2014 1H FY2015

313

422

HK$ million

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PROFIT TO SHAREHOLDERS

+40%

0

100

200

300

400

1H FY2014 1H FY2015

222

310

HK$ million

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BASIC EARNINGS PER SHARE

+39%

0

5

10

15

20

25

30

1H FY2014 1H FY2015

21.40

29.70

HK Cent

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DIVIDEND

3.8¢ per share

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0

200

400

1H FY2014 1H FY2015

166

366

CAPEX - INVEST IN GROWTH

Construction of Wuhan plant Expansion of production capacity Installation of high speed lines Addition of new packaging lines Upgrade of production machinery

+120%

HK$ million

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0

50

100

150

200

250

MAR 2015 SEP 2015

177

195

0

50

100

150

200

250

300

350

MAR 2015 SEP 2015

158

336

FINANCING BUSINESS GROWTH

Borrowings

+113% Net Cash

+10% HK$ million

HK$ million

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GEARING RATIO

17% 8% March, 2015 September, 2015

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ROCE

23% 20% September,

2014 September,

2015

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BUSINESS REVIEW & OUTLOOK

Roberto Guidetti Group Chief Executive Officer

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• Core business continues to accelerate overall growth

• Execution, Expansion, Innovation delivering results

• Bottom line growing ahead of top line

• Improved P&L not only via prudent cost management, but also

because of non-recurring favourable raw materials trends

• Whilst ever smaller as % of Group business, Vitasoy USA

continued operating loss requires a strategic re-assessment

RESULTS ARE AHEAD OF OUR TARGET

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PUT A BIG VISUAL OF VITASOY

GO VAN AND PROMOTER

HERE

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NET SALES : HK$ 1,077 M ↑ 4% OP : HK$ 194M ↑11 %

Favorable raw mat. Determined cost management

Disciplined Execution

Innovation

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Focus on VITASOY Core Grow recent launches New VITASOY GO

(TVC – VITASOY GO )

OUTLOOK FOR 15/16

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PUT A BIG VISUAL OF GREAT

VITASOY CLASSIC DISPLAY

HERE

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NET SALES : HK$ 1,513 M ↑32 % OP : HK$ 263 M ↑70%

Go Deep Go Wide Favorable raw mat. Capacity utilization

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OUTLOOK FOR 15/16

Drive our Core Grow VITASOY Premium New VITA HK Style Line

(TVC – VITA HK Style Milk Tea)

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NET SALES : HK$ 53M ↑23 % (S$ ↑35%)

OP : HK$ 4.6M ↑18 % (S$ ↑27%)

Keep strengthening #1 market share

New VITASOY Premium continuous drive

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KEEP SCALING UP OUR VITASOY EQUITY

Drive VITASOY Tofu Synergize with VITASOY Liquid

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NET SALES : HK$ 211M ↓17% (AUD$ ↑4%)

OP : HK$ 36 M ↓23% (AUD$ ↓4%)

New Core Soy Campaign Chilled Re-launch

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OUTLOOK FOR 15/16

New VITASOY Almond launch Drive new complete portfolio

(TVC – new VITASOY Almond)

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NET SALES : HK$ 263M ↑4% OP : HK$ (12 M)

Accelerating Mainstream Manufacturing issues NASOYA Baked Tofu

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IMPROVE BOTTOM LINE

Keep driving NASOYA Baked with new Chipotle offering

Improve manufacturing

Strategic review of business model

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MARKET TAIL WINDS E

XP

AN

SIO

N

EX

EC

UT

ION

INN

OV

AT

ION

SECURING LONG-TERM SUCCESS

QUALITY INFRASTRUCTURE PEOPLE

ACCELERATE OUR CORE

BRANDS

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