2016

A future together

Grupo Nutresa S. A.

38OF SALES

8

2

5X

ONE OF THE LARGEST FOOD COMPANIES IN AMERICA

OUTSIDE COLOMBIA

BUSINESSMODEL PILLARS

PEOPLE 4Q15

BRANDS

45KEMPLOYEES

12,6KOUTSIDE COLOMBIA

17BRANDS SELLMORE THAN 50 USD MM

CONSOLIDATED MARKET SHARE IN COLOMBIA

61%

DISTRIBUTION

SUSTAINABILITYDIVERSIFICATION

PRESENCE

COUNTRIES

MANUFACTURINGPLANTS

COUNTRIESIN 5 CONTINENTS

PRODUCTS SOLD IN

No single commodity accounts for more than 10% of COGS

YEARS OF HISTORY100

1445 72

8 BUSINESS UNITS

SCALE

2015 SALES

NEARLY1,1USD billion

%

1,2CLIENTS SERVED

MILLION 11,7KWITH MORE THAN

SELLERS

COP trillion

~ 2,9USD billion

Includes Grupo El Corral

International sales and distributionnetwork

Biscuits Chocolates Coffee PastaCold Cuts TMLUC* Ice Cream

3

* TM

LUC

= T

resm

onte

s Lu

cche

tti

CorporateStructure

Retail Food

4

Acquisitions (19) Mergers (5) New Businesses (3)

Cos

ta R

ica

Col

ombi

a

Col

ombi

a

Col

ombi

a

Puer

to R

ico

Chi

le

Cos

ta R

ica

Pana

ma

Col

ombi

a

Mex

ico

Pana

ma

Pana

ma

& N

icar

agua

Col

ombi

a

Col

ombi

a

Col

ombi

a

Col

ombi

a

Cos

ta R

ica

Cos

ta R

ica

Peru

Pana

ma

USA

Dom

inic

anR

epub

lic

Mal

aysi

a

BiscuitsNestlé

2000 2002 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Mal

aysi

a

Col

ombi

a

Chocolates Nestlé

Joint Ventures (3)

USD1,7BILLIONINVESTED IN 19SUCCESSFUL ACQUISITIONS

Significant Expansion Since 2000

2015

Innternational Presence

Strategic Alliances

Bimbo de Colombia S.A.Grupo Bimbo: Grupo Nutresa owns 40% of Bimbo de Colombia S.A.

La Recetta Soluciones Gastronómicas Integradas S.A.S.

Grupo Nutresa owns 70% of the Recetta. Alpina owns the remaining 30%.

Strategic Alliances

Dan Kaffe (Malaysia) Sdn Bhd

Grupo Nutresa owns, through its subsidiary Colcafé, 37% of MalaysianDan Kaffe company dedicated to the production of soluble coffee and coffee extracts. 63% it owned by Japanese multinationals Mitsubishi Corporation and Takasago International.

Strategic Alliances

Oriental Coffee Alliance Sdn. Bhd

Grupo Nutresa owns, through its subsidiary Colcafé, 50% of Oriental Coffee Alliance Sdn. Bhd., Alliance to promote the sale of Dan Kaffe and Colcafé in Asia. The remaining 50% is owned by Mitsubishi Corporation.

Grupo Nutresa owns 30% of Estrella Andina S.A.S, Starbucks chainoperator in Colombia. 70% it owned by Alsea, S.A.B. de C.V., of Mexico.

Estrella Andina S.A.S.

9

Our People

Human talent is one of our most valuable assets. Our corporate culture thrives on promoting a participatory environment in which skill development, recognition and work/life balance are top priorities toward building a leadership brand.

Our Brands

Our brands are leaders in the markets in which we do business. They are recognized, loved and seen as an integral part of people's everyday lives. Our brands are based on nutritious, reliable products with an excellent price/value ratio.

Our DistributionNetwork

An extensive network supported by exclusive distribution channels, segments, and specialized attention teams, allows us to establish close client relationships by having products available at all times.

Excellence Level Organizational Climate Score

84,4%17 BrandsWith sales of more than

USD 50 million

+ 1,2 millionPoints of Sale

Differentiating Aspectsof our Business Model

Business Model:Brands

10

Biscuits

Chocolates

Cold cuts

Coffee

TMLUC

Ice Cream

Pasta

Retail Food

Business Model:Brands

Portfolio of

17 brands

22 brands

44 brands

28

157 brands

selling overUSD$50 MM

market share in key markets

with #1

with over years of existence 20

present in more than one marketbrands

11

Grupo Nutresa has been building a relevant experience in research. The evolution ofthis management generated the need for a knowledge platform in terms of nutrition,health and wellness, from scientific activity aimed at competitiveness, differentiation,innovation and social responsibility. As a response to this challenge, CorporaciónVidarium, Nutrition, Health and Wellness Research Center, was incorporated on April 21,2009.

VIDARIUM

A Center of this nature must recognize innovation as a process characterized bynetworking, through mechanisms of technology transfer and knowledge generation. Itswork falls within the guidelines of scientific cooperation among the various members ofthis community, contributing to the development of the region and improving its quality oflife.

INNOVATION PROGRAM

Innovation

Through innovation:

- There is a better reading of the environment;

- New business models are made possible;

- The commitment of the team of employee rises toidentify or improve processes, ways of working andproducts;

- The different capitals of the company are improved ortransformed, through the implementation of ideasthat generate better results.

Innovation

Progress on the strategies to 2014

Innovation sales reached a 17,7% share of total Grupo Nutresa sales.

Three prospective exercises concluded and we formed a network oftechnological watchers (vigías) in strategic topics for Grupo Nutresa.

In partnership with Ruta N, we launched a new laboratory in Medellín togenerate new research capabilities in the businesses.

Innovation

Strategies

Redefine the innovation strategy and the structuring of thegovernance model.

Launch the technological surveillance process and prospective asmanagement tools.

Adopt and boost innovation programs: Innovative Success Stories,Exemplary Practices, Innovative Solutions, Open Innovation andOut of the Box.

Strengthen the basic and applied research infrastructure.

Design a knowledge–management model.

Intellectual Property

Intellectual capital management is a strategicprocess that supports innovation, since itpermits the protection and preservation ofknowledge generated, the identification ofkey technological trends in planning andprospective exercises, and the reduction ofrisks of infringement of third–party titles.

Surveillance enables the establishment ofboundaries of knowledge of competitors.

Intellectual property maintains competitiveadvantages.

Intellectual Property

SECOPIND

It’s relevant to have spaces which involve different agents (industry, academy), and allow discussing on issues of I.P.

We have a common language of easy understanding.

Share tools and costs to acces knowledge, ex: software.

Enhance the exercise, bringing different points of view on the subject.

Growth of knowledge within the Group, acquire skills on both technology sales and transfer.