Grupo LALA, S.A.B. de C.V.

Investor Relations Presentation

November, 2017

DISCLAIMER

This material does not constitute an offering document. This material was prepared solely for informational purposes and is not to beconstrued as a solicitation or an offer to buy or sell any securities. Any offering of securities will be made solely by means of an offeringmemorandum, which will contain detailed information about the Company and its business and financial results, as well as its financialstatements.

Securities may not be offered or sold in the United States unless they are registered or exempt from registration under the U.S.Securities Act of 1933, as amended.

This presentation includes forward-looking statements or statements about events or circumstances which have not yet occurred. Wehave based these forward-looking statements largely on our current beliefs and expectations about future events and financial trendsaffecting our businesses and our future financial performance. These forward-looking statements are subject to risk, uncertainties andassumptions, including, among other things, general economic, political and business conditions, both in Mexico and in Latin Americaas a whole. The words “believes”, “may”, “will”, “estimates”, “continues”, “anticipates”, “intends”, “expects”, and similar words areintended to identify forward-looking statements. We undertake no obligations to update or revise any forward-looking statementsbecause of new information, future events or other factors.

In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this presentation might not occur.Therefore, our actual results could differ substantially from those anticipated in our forward-looking statements.

No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of theinformation contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgment. We andour affiliates, agents, directors, employees and advisors accept no liability whatsoever for any loss or damage of any kind arising out ofthe use of all or any part of this material.

This material does not give and should not be treated as giving investment advice. You should consult with your own legal, regulatory,tax, business, investment, financial and accounting advisers to the extent that you deem it necessary, and make your own investment,hedging and trading decision based upon your own judgment and advice from such advisers as you deem necessary and not upon anyinformation in this material.

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1949 1980 1990 2000 2010 2015

ABOUT US

WHO WE ARE

LALA is a Mexican Company focused in the

healthy and nutritious food industry with over

65 years of experience in the production,

innovation and marketing of milk and dairy

products under the highest quality standards.

LALA operates 22 production plants and 157

distribution centers in Mexico, Central

America and the United States, and is

supported by more than 34,000 employees.

LALA operates one of the largest chilled

distribution networks in the region, with

6,500+ delivery routes. Our product portfolio

includes over 600 SKUs under 56+ brands,

which are available at more than 500,000

points-of-sale.

“Nourishing your life is our passion”

“To be the favorite dairy company in the Americas”

MISSION

VISION

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OUR FOOTPRINT

MexicoUnited StatesGuatemalaHondurasEl SalvadorNicaraguaCosta RicaBrasil 6

8 600 56

34,000 22 157

500,000 6,500

OUR PRODUCTS

MILK

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Milk: Pasteurized, UHT and functional milks, pasteurized and UHT dairy-based beverages, and powdered milk.

62.4%

OTHER DAIRY PRODUCTS

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Other Dairy Products: Cream, butter, cream-based spreads, yoghurt, cheese, ice cream and desserts.

32.9%

BEVERAGES AND OTHERS

10

Beverages and Others: Beverages, juices, cold cuts and others.

4.7%

CONSUMPTION & DAIRY OUTLOOK

“Investing today to capture Mexico´s future growth opportunities”

CONSUMER OUTLOOK

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Today’s market trends and consumption are movingtowards foods and beverages categories that havefunctional benefits

More than half of the consumers across allgenerations are willing to pay a premium forproducts that provide health benefits

The reinvention of dairy as a completely naturalfood plays an important role in this consumer trend

Creating new products that appeal to the healthtrend is not enough—marketing, processingtechnology and convenience are important factorsto be consider

Source: Euromonitor, Company information.(1) Others includes: Ecuador, Bolivia, Uruguay, Venezuela and other South America Countries.(2) Central America includes: Costa Rica, Dominican Republic, Guatemala, Nicaragua and other Central America / Caribean countries.

World Dairy Market value is ~US$550 billion

Americas Dairy Market it´s projected to grow by ~US$16 billion in next 5 years

The U.S., Mexico and Central America represents 58.0% of total Americas Dairy Market

AMERICAS DAIRY MARKET

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TOTAL AMERICAS DAIRYMARKET VALUE IS ~US$160 BILLION

Brazil México

2% Chile

46%

USA

24%

Brazil

9%

8%

México

Canada

3% Central America (2)

2% Others (1)

3% Colombia

2% Argentina

1% Peru

LALA 2017 STRATEGIC PRIORITIES

“Sustainable Growth Strategy”

PROTECT OUR BASE BUSINESS MEXICO

Investing in our Brands

Accelerating Productivity Improvements

Optimizing our Infrastructure

1st

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INVESTING IN OUR BRANDS

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2013-20162003-2012

Nutri Leche

Increasing product offering under the Nutri brand among emerging consumers

1st

99%

97%

99%

77%

85%

79

37

32

31

20

Source: Kantar Worldpanel 2017(1) Penetration based on number of households that purchase a brand;(2) Frequency of purchase (# of times per year).

MEXICO TOP FIVE CONSUMER BRANDS

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FREQUENCY (2)PLACE BRAND PENETRATION (1)

The Largest Healthy Food Company in Mexico

Classified among Mexico´s top five consumer brands

1st

1st

18

Investing in our Nutri Deli brand with the opening of our state-of-the-art cold cuts facility

Synergies in our chilled distribution networkin Mexico

Grand opening on October 30th

Technology and innovation center that willallow us to produce a competitive productline for main-stream and value markets

INVESTING IN OUR BRANDS

OPTIMIZING OUR INFRASTRUCTURE

TO IMPROVE EFFICIENCIES 1st

19

Consolidating our Distribution Centers Mexico City Example

April 201617 CEDIS

January 201712 CEDIS &

1 Mega CEDIS

20195 Mega CEDIS

(1)

Reinforcing our Go-to-Market capabilities in Mom & Pop channel

• Adapting our service level via handheld pre-selling system to better meet customer needs

• Reaching the same customers with fewertrucks

• Optimizing 11% of our distribution routes

1st

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Excellence in manufacturing via continuous improvement projects

Manufacturing efficiencies in three key areas:

Generating more than $200 millionpesos of manufacturing savings in2017

1) Manufacturing expenses▪ Optimizing the use of energy, gas, and other utilities

2) Materials▪ Efficient use of materials and waste reduction

3) Maximize capacity utilization▪ Reduce line shutdowns and increase its efficiency

OPTIMIZING OUR INFRASTRUCTURE

TO IMPROVE EFFICIENCIES

Driving consumption habits through innovation

LALA 100

The most innovative product in the fresh milkcategory for the last 20 years

Since the introduction of LALA 100 in July of 2016,the fresh milk category has growth 18.3% in theShel Service Stores channel, with 70% of thegrowth coming from LALA 100

*Considering the data reported by Nielsen in their Retail service for Self Services Stores for the Fresh Milk category (without milk formula).Growth comparing rolling year 2017 up to June vs the same period in 2016 in Total Mexico.

STRENGTHEN OUR PRODUCT PORTFOLIO

VIA INNOVATION

21

2nd

STRENGTHEN OUR PRODUCT PORTFOLIO

VIA INNOVATION

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Growing our Other Dairy Products Category to enrich our sales mix

Panela Style Cheese

• New packaging technology• Non- lactose and Fat free presentations• New Queso Fresco

2nd

LALA Delicias

Introducing our first indulgent Yoghurt tostrengthen our presence in premiumcategories

2ndSTRENGTHEN OUR PRODUCT PORTFOLIO

VIA INNOVATION

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Soy Vita is the fastest growing brand in the largest segment of the plant

based dairy alternatives

Almond48%

35%

13%

Soy

Others

Soy Vita #2 in Almond segment with 30% of market share, growing +149% vs YA

Source: Nielsen Scantrack April 2017 (value)

+144%

-1%

Coconut

-11%

+26%

4%

8.5 8.911.9

16.819.6

21.925.2 26.3 26.6 26.0 27.4

29.6 30.0

Segment Growth vs YA

100%

Category growing 16% vs YA

Soy Vita Market Share

Plant based dairy alternatives category

2nd

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Introducing new formats for panela cheese and sour cream

Panela cheese▪ Sliced cheese▪ Resealable packaging

Sour Cream▪ Squeeze container▪ Allows better product handling▪ Easy to serve

STRENGTHEN OUR PRODUCT PORTFOLIO

VIA INNOVATION

CONSOLIDATE & EXPAND

CENTRAL AMERICA OPERATIONS

Growing our footprint in Central America

Nicaragua

Strengthening our leadership through the integration of our businesses

Guatemala & Costa Rica

Increasing the production capacitywith two new multicategory plants

3rd

Product Portfolio

Increasing our offer under the LALA Brand

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CONSOLIDATE & EXPAND

CENTRAL AMERICA OPERATIONS

Increasing product offering under the LALA and Nutri Lety Brand

3rd

Accelerating YoghurtCategory Growth

Leveraging on our Regional Brands

Expanding our Ice Cream Capacity

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CONSOLIDATE & EXPAND U.S. OPERATIONS

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“Building brands to grow the business”

3rd

LALA U.S. PRODUCTION FACILITIES

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OMAHA, NEBRASKA FLORESVILLE, TEXAS SPRINGS, COLORADO

• Drinkable Yoghurt• Spoonble Yoghurt• Sour Cream

• ESL Milk• Cultured

• ESL Milk

3rd

ESL, Extended Shelf Life Milk

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While blended yoghurt is declining, drinkable is growing high double digit

“Drinkable yoghurt represents 11.0% of the total yoghurt category value in the U.S.”

89% Yoghurt

(Blended)

11% YoghurtDrinks

U.S. YOGHURT CATEGORY OVERVIEW

+$3.85B USD

LALA U.S. YOGHURT MARKET

29Source: IRI Market Research, US MULO (MULti-Outlet) 26 Weeks Ending 09-11-17.

(4.0%)

17.0%18.0%

Total YoghurtCategory

Drinkable Yoghurt Lala DrinkableYoghurt

3rd

Sept 2017ACV: 63.7%

16,796 STORES

Presence in Big Retailers

with nationwide exposure

LALA U.S. PRESENCE

LALA U.S. is the Brand Leader in Adult Drinkable Yoghurts and the #2 in total Drinkables which

includes kids

Source: IRI, Market Research ; US MULO (MULti-Outlet) 26 Weeks Ending 09-11-17. ACV: All Commodity Value; “% of stores selling,”

3rd

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3rd

Promised Land brand national expansion has reached key accounts in 37 states in the U.S

New shelf lifeACV(1) as of September 2017MULO: 37.1%Food stores: 48.9%

Source: IRI, Market Research ; US MULO (MULti-Outlet) 26 Weeks Ending aug-17. (1) ACV: All Commodity Value; “% of stores selling,”

EXPANSION FOR EXTENDED SHELF LIFE MILK

30 days 60 days

34.1%41.5%37.1%

48.9%

MULO Food Stores

YAG

Sept 2017

M&A AND STRATEGIC ALLIANCES

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OPPORTUNITIES

The Americas

Dairy & Dairy alternatives

Infrastructure, brands, value- added categories and talent

LALA HAS OPERATIONS IN 7 COUNTRIES

REGION

MARKET

ADDING

Our Strategy Follows

a Disciplined Process

4th

Mexico

United States

Honduras

Guatemala

El Salvador

Nicaragua

Costa Rica

ACQUISITION OF VIGOR

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4th

Driving growth via innovation in branded value added dairy products

Consumer brands

Food service brands

Leading brands supported by innovation and high impact advertising

▪ Vigor is #1 in greek yogurt & #2 in total yogurt

▪ Vigor is #1 spreadable cheese▪ Faixa Azul is #1 grated cheese▪ Danubio is #2 fresh cheese (queso fresco)

ACQUISITION OF VIGOR

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4th

Vigor Acquisition

Transaction: 99.9% of Vigor shares

EV: BRL$ 4,325 million(1)

Funding: Bridge loan with JP Morgan,BBVA Bancomer and Santander,followed by take outs syndicatedloan & bonds

9 production facilities

19 distribution centers

+3,900 employees

3 milk supply center

About Vigor

Financial Information 2017E▪ Net sales: R$ 2,407 million▪ EBITDA: R$ 200 million

(1) This amount doesn’t include Itambé’s shares

KEY FINANCIAL INFORMATION

NET SALES CONTINUE GROWING QUARTER BY

QUARTER

13,701

14,354

14,799 14,967 15,022

3Q-16 4Q-16 1Q-17 2Q-17 3Q-17

(*) Company Data, in Mexican Pesos. (´000 000).(1) 2Q’17 Growth is composed by: Organic Growth 7.8% and Inorganic Growth 1.8%.

YoY Growth % 12.5% 14.6% 18.3%

SALES EVOLUTION

16.0% 9.6%(1)

Organic growth 7.8%9.7%10.9%6.6%6.5%36

OTHER DAIRY PRODUCTS AND MILK CONTINUE

GROWING

(*) Company Data, in Mexican Pesos. (´‘000 000).

9.0%

Milk Other DairyProducts

Beverages &Others

12.8%

(2.2%)

YEAR-ON-YEAR GROWTH3M ended September 30th

Milk Other Dairy Products

YoghurtCreamCheeseIce CreamDessertsButter

Beverages and Others

BeveragesJuicesCold CutsOthers

Milk

62.4%

Other Dairy Products

32.9%

4.7%

SALES BY SEGMENT

FreshUHTMilk Formula

Beverages and Others

37

(*) Company Data, in Mexican Pesos (´‘000 000).EBITDA=Earnings Before Interest, Taxes, Depreciation and Amortization.

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QUARTERLY CONSOLIDATED EBITDA INCREASED

25.7% VS Q3 2016

3Q-16 4Q-16 1Q-17 2Q-17 3Q-17

Axis Title

EBITDA MARGIN EVOLUTION

Margin

% Sales12.4%10.8% 11.2% 11.7%

1,4831,601

1,725

14.0%

2,096

1,864

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3rd

P&L in $USD mm 3Q´16(1) 4Q´16 1Q’17 2Q’17 3Q’17

Net Sales $40.5 $42.5 $42.6 $43.8 $42.0

EBITDA (11.5) (6.8) (1.4) (0.9) (3.7)

EBITDA/Net Sales

(28.3%) (16.1%) (3.3%) (2.0%) (8.8%)

LALA U.S. BUSINESS EVOLUTION

U.S. OPERATIONS

57.8%

15.4%

26.8%

Gross Sales by Category3M ended September 30th

(*) Company Data, in USD (´000 000 ), excluding intercompany charges(1) Proforma Figures: include estimated figures for July 2016 as reference to be comparable

Drinkable YogurtIncrease vs Q3’16: +9.1%

Promised LandIncrease vs Q3’16: +11.3%

Other CategoriesDecrease vs Q3’16: -3.0%

RESULTS IN 3Q17 DRIVEN BY PERFORMANCE IN

MEXICO

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P&L 3rd Q'16 3rd Q'17 Var. %

Net Sales $13,701 $15,022 9.6%

COGS 8,646 9,268 7.2%

Gross Profit 5,055 5,754 13.8%% of net sales 36.9% 38.3%

Operating Expenses 3,987 4,362 9.4%% of net sales 29.1% 29.0%

Operating Income 1,048 1,427 36.1%% of net sales 7.7% 9.5%

EBITDA(1)1,483 1,864 25.7%

% of net sales 10.8% 12.4%

Net Income(2)753 1,007 33.7%

% of net sales 5.5% 6.7%

(*) Company Information, in Mexican Pesos (‘000 000).(1) EBITDA=Earnings Before Interest, Taxes, Depreciation and Amortization.(2) Net Income refers to consolidated Net Income..

YEAR ON YEAR COMPARISON

3M ended September 30th

STRONG FINANCIAL POSITION

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Key Metrics(1) 2016 2017

Net Debt / EBITDA (0.6)x (0.4)x

EBITDA / Interest Paid 371.5x 284.1x

Earnings Per Share $ 1.59 $ 1.61

Financial Position 2016 2017

Total Assets $ 39,773 $ 39,287

Cash 6,263 2,978

Non-Current Assets 23,040 24,447

Total Liabilities 12,265 10,423

Total Debt 2,268 98

Shareholder Equity 27,508 28,863

(*) Figures in Mexican Pesos (´000 000).(1) Last 12 Months ratios calculated in local currency

.

2nd Installment of 2016 cash dividend

0.1538 pesos per share paid on August 23rd, 2017

AS OF SEPTEMBER 30th

CAPEX INVESTMENTS 2017

A total investment of +3,600mm MXN

NEW PLANTS IN MEXICO

PASTEURIZED AND COLD CUTS

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Construction of a new state of the art pasteurization facility

* All figures and dates are according to Company´s estimations.

Investment: +300mm MXN

Opened on June 2017

Location: Cd. Obregon, Mexico

Investment: +900mm MXN

Opened in October 2017

Location: Hidalgo, Mexico

Our First Cold Cuts Facility

PRODUCTION EXPANSION,

CENTRAL AMERICA

44* All figures and dates are according to Company´s estimations.

Muticategory Production Facilities

Investment: +915mm MXN

Production beginning in 2018

Location: Costa Rica & Guatemala

NANO FILTRATION - LALA 100 MILK,

CENTRAL MEXICO

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Investment: +400mm MXN

Production beginning in Q4-2017

Location: Irapuato, Mexico

* All figures and dates are according to Company´s estimations.

Production capacity usingNano-Filtration Technology

DISTRIBUTION CENTER & SUPPLY CHAIN

CONSOLIDATION

46

Investment: +300mm MXN

* All figures and dates are according to Company´s estimations.

Efficiencies & Productivity in our distribution centers

OTHER INVESTMENTS

47* All figures and dates are according to Company´s estimations.

Investment: +760 mm MXN

30% increase in Sour Cream production capacity

Water treatment plant in Veracruz

Increase cooler space at point of sale

Hand held equipment

Digital Technology

Transport

CONTACT INFORMATION

Investor RelationsMariana RojoEstefania Vazquez+52 (55) 9177 5900investor.relations@grupolala.com

Forward-looking statementsThis document contains certain assumptions, projectionsand forward-looking statements regarding the Company’sfinancial situation, operative results and information, GrupoLALA’s business and that of its subsidiaries as well as withregards to the Company’s related plans and objectives.This executive summary does not constitute a publicsecurities offering on behalf of LALA and is intended to beused for informational purposes only.

Stock InformationGrupo LALA has been traded under the ticker ‘LALA’ on the Bolsa Mexicana de Valores (BMV) since October 16th, 2013.

For more information: www.grupolala.com

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