(PSE:CNPF)

NOVEMBER 2017

(PSE:CNPF)

CENTURYPACIFICFOOD,INC.(PSE:CNPF)

CORPORATEPRESENTATION

CompanyOverview

2

Marine,37%

Meat,27%

Milk,11%

TunaOEM, 15%

CoconutOEM,10%

CenturyPacificGroup,69%

Public,24%

GICPrivateEquity,7%

OwnershipStructure

Snapshot

• Century Pacific Food, Inc is the largest canned food company in the Philippines

• Over its 40 year operating history, it has built a portfolio of leading and wellrecognized brands in three core segments - marine (37% of sales), meat (27% ofsales) and milk (11% of sales). It is also the Philippines’ leading exporter of OEM tuna(15% of sales) and OEM coconut products (10% of sales).

• The Company listed on the Philippine Stock Exchange in 2014, under the tradingsymbol CNPF. It currently has a market capitalization of about USD1.2 billion.

• Production facilities: 6 manufacturing facilities across the Philippines, strategicallylocated adjacent to supply sources (Tuna and Coconut in General Santos City, Meat inLaguna City, Dairy in Taguig City, Sardines in Cavite and Zamboanga City)

• Key Management: Christopher T. Po, President and CEO – 14 years at CNPF (8 yearsas CEO), 11 years of prior multi-industry experience; Teodoro T. Po, EVP and COO –25 years experience of running various business units in CNPF; Oscar A. Pobre, CFO –20 years in CNPF’s corporate finance, treasury, accounting and controllership

Full-YearFinancials

413471

571

2014 2015 2016

Revenues (in USD Mill)

Net Income (in USD Mill)

Domestic,72%

Export,28%

32 3954

2014 2015 2016

Branded,75%

OEM, 25%

2016RevenueBreakdown

CompanyMilestones

MProventrackrecordinbrand-building

CENTURY CANNING CORP.

CENTURY PACIFIC FOOD, INC.

organic via acquisitions

CENTURY PACIFIC AGRICULTURAL VENTURES, INC.

1978 1983 1986 1995 2001 2002 2003 2008 2012 2013 2015 2016 2017

2011

CenturyCanningMarketing

CompanyoftheYear

2011to2013,2015to2016

CenturyTunaandArgentina

Reader'sDigestTrustedBrand

2016

CNPFPhilippines’Best

ManagedCompany

2014

GregoryBanzon Awardeefor

MarketingExcellence

2016

CNPFAsia’sMarketing

CompanyoftheYear

3

CENTURYINTERNATIONAL(CHINA) CO. LTD.

2016

CNPFPhilippines’Best

Company

InvestmentHighlights

4

Market Leadership

Strong Focus on Marketing and

Innovation

Extensive Market Penetration and

Distribution

• Dominates the canned tuna and canned meat categories locally*, with a growing presence in milk

• Company’s brands are the brands of choice for Filipino consumers

• Innovative marketing campaigns to create must-have and aspirational brands

• Strong R&D process to launch products and improve profitability

• Products available in 760,000 points of sale locally (source: Nielsen)

• A growing network of food service and international accounts

Multiple Brands & Products

• A broad product portfolio catering to different tastes and needs to capture a larger share of consumers’ wallet and stomach

• Diversification of risk and input price exposures

1

2

3

4

Trusted Partner for International Customers

• Long-standing relationships with large international private label customers, initially just for tuna, but now also for various coconut products

5

*Source:Nielsen

Food42%

Housing12%

Utilities8%

Transport6%

Education 4%Health 4%

Miscellaneous24%

BreakdownofFamilyExpenditures

Well-positionedtotakeadvantageofrisingconsumerdemand

5

1

Tosupportanemergingmiddleclass Foodaccountingforbulkoffamilyexpenditure

PHshelf-stablemarketthelargestinASEAN

Source:2015PSAdata

SE

CLASS

%shareof

Families

%shareof

Income

Annual income

inPhp

AB 1 9 1,857,000

C 9 26 603,000

D 60 56 191,000

E 30 9 62,000

Total 100 100 206,000

Source: BPISecurities,SocialWeatherSystemSurvey2016

670581

213172

35

Philippines Indonesia Thailand Malaysia Singapore

Shelf-stablefoodtotalconsumption(US$m)

Source:2016Euromonitor data

DistributionofFamiliesandIncome

Roomtogrownonapercapitabasis

Percapitacannedgoodsconsumption(US$m)

0 5 10 15 20

IN

TH

PH

MY

SG

Source:Euromonitor,Ateneo deManilaUniversityCFAIRCPresentation2017

82%

16% 1% 1%

45% 19% 14% 11% 11%

33% 18% 11% 9% 7%

DominantmarketleadershipinambientfoodinthePhilippines

6

2

35% 11% 9% 8%

54%

19% 13% 14%

37% 30%

13% 20%

DominantPositionsinKeySub-Segments

LargestandLeadingCannedProducer

Canned&

PreservedFood#1 CannedMeat

Canned&

ProcessedFish

September2017

CannedTuna

September2017

EmulsifiedLoaves#1

#1#1

September2017

CornedBeef#1 #1

7

Multiplebrandsandproductscateringtoallconsumers

3

Cannedand

Processed

Fish

Cannedand

Processed

Meat

Cannedand

Drinking

Milk;Mixes

ValueforMoney AffordablePremium

Significantbenefitsofamulti-brand,multi-productportfolio

• Cateringtoabroadcustomerbasethroughmultiplebrandsandcapturing

largershareoftheconsumers'wallet/stomachthroughmultiple

segments/products

• Increasedbargainingpowerwithsuppliersanddistributors

• Diversificationofriskandfacilitatebrandconsolidationplay

Diverseproductportfoliocateringtoabroadcustomerbaseanddifferentcustomertastesandneeds

Positioning

CurrentCompany Portfolio– 230SKUs

Marine,135

Meat,68

Milk,24

Coconut,3

MassMarket

AstrongfocusonmarketingandR&Ddriveninnovation

4

Capitalizingonhealthierlifestyles

Intuitiveandappealingad-campaignsemployingcelebrityendorsersto

createmusthaveandaspirationalbrands

R&DProcessFlow InnovativeMarketingCampaigns

Anintegralpartoflaunchingnewproductsand

improvingprofitability

Enhancingbrandrecognitionthroughactiveandtargeted

marketingandpromotionalcampaigns

8

Extensivemarketpenetrationanddistributionnetwork

5

ExportPresence

Distributor

TollManufacturer

Source: 2016Nielsendata

TotalPHoutletsservicedbyCNPF

Globally,investingina

worldwidesalesanddistributioninfrastructure

GlobalSalesandDistributionNetwork

271k 760k66%

AvailabilityEquivalentto

ofallpointsofsaleinthePH

TotalPHoutletsCNPFproductsareAVAILABLE

9

14Offshoretoll

manufacturersforCNPFproducts

CountriesCNPFproductsareAVAILABLE

59

AvailabilityofBrandedProducts

Trustedpartnerforcustomersaroundtheworld6

largest single-brand restaurant chain

UK’s leading importer of canned

food

Japan’sleadingmanufacturersoffood

products

Worldwidemarketleaderincoconutwater

BrandedProductssoldExclusivelyforExport

Source: 2016BureauOfCustomsdata

Workscloselywithlongstandinginternationalpartners toproduceprivatelabeland brandedproductsforsaleininternationalmarkets

KeyCustomersTunaOEMMarketShare

Philbest,34%

Ocean,

8%

Alliance(PSE:

FOOD),10%

Seatrade,7%

Celebes,6%

35%

10

Experiencedanddedicatedmanagementteam7

ExecutiveCommitteeProfile

President&CEO

EVP&COO

AverageTenure– 11years

CumulativeProfessionalExperience– 280years

Highlyexperiencedprofessionalsintheirrespectiveareasofexpertise

ChristopherPoPresidentandCEO

• Previously served as Management Consultant at McKinsey, Managing Director atGuggenheim Partners, and Corporate Planning Head at JG Summit

• Summa Cum Laude fromWharton; MBA from Harvard Business School

Teodoro PoEVPandCOO

• 23 years experience of running various business units of Century Group; Designed,built and managed several factories of the group

• Summa Cum Laude from Boston University; Owner/President Management Programfrom Harvard Business School

OscarPobreVPandCFO

• 19 years managing the corporate finance, treasury, accounting and controllership atCentury Group of Companies

• 17 years in finance functions at RFM, Cosmos, Dole, and Meralco

GregoryBanzonVP- GMCannedFish,Tuna

• 22 years of experience in various general management, marketing and sales rolesincluding VP- Marketing of Johnson & Johnson ASEAN, Country General Manager ofJohnson & Johnson Indonesia, and General Manager at RFM

Cezar Cruz,Jr.VP- GMCannedFish,Sardine

• 29 years of experience in various technical, operations and business developmentroles at San Miguel and RFM

• President of the Sardine Association of the Philippines

RexAgarradoVP– GMCannedMeat

• 18 years of experience in various technical and manufacturing roles at San Miguel,RFM, Quaker and California Manufacturing Corporation

• Director of the Philippine Association of Meat Processors, Inc.

EdwinAfricaVP– GMDairyandMixes

• 22 years of experience in general and brand management roles in the Philippines,Taiwan, Thailand, Singapore, Malaysia and China

• Procter & Gamble from 1991 to 2001, Nippon Paint from 2001 to 2004, and Pepsicofrom 2005-2012

TeddyKhoVP– GMTunaExport

• 21 years of experience in various management, operations and technical rolesincluding President and General Manager of San Miguel Foods Vietnam and PlantManager of San Miguel Hoecheong

• 27 years of experience in various general management roles in fast-moving consumergoods companies, including San Miguel Yamamura Packaging Corp and ThePurefoods-Hormel Company Inc

NoelTempongkoVP– GMCPAVI

RonAgoncilloVP- Sales

• 8 years of experience in sales management roles at National Sales and Cadbury,Unilever Indonesia & Philippines, 3M, and Shell

11

8VicePresidents

AverageWorkExperience– 20years

P&LPERFORMANCE&OUTLOOK

YTDSep2017ResultsHighlights

14

DOUBLEDIGITBrandedRevenueGrowth Earnings

GrowthDespiterecordincreasesininputcost

SUSTAINEDDEMAND

OEMExports

21%Total

RevenueGrowth

8.8%Net

IncomeMargin

2%Net

IncomeGrowth

YTDSep2017FinancialPerformance

inPHPMill 9M2016

9M2017 ChangeYoY

NetRevenues 20,964 25,270 21%CostofSales 14,283 18,772 31%GrossProfit 6,681 6,498 -3%OperatingExpenses 3,769 3,699 -2%OperatingIncome 2,964 2,990 1%EBITDA 3,210 3,369 5%Income BeforeTax 2,892 2,916 1%Income Tax 733 704 -4%NetIncome 2,160 2,213 2%Margins(%)GrossProfit 31.9% 25.7% -6.2ppsOperating Expenses 18.0% 14.6% -3.3ppsOperatingIncome 14.1% 11.8% -2.3ppsEBITDA 15.3% 13.3% -2.0ppsNetIncome 10.3% 8.8% -1.5ppsEffectiveTaxRate 25.3% 24.1% -1.2pps

• Consistentdouble-digitBRANDEDREVENUE growth

• Strongtuna&coconutOEMEXPORT sales

• ElevatedINPUTCOSTfromhigherrawmaterialprices

• IncreasedcontributionfromLOWERMARGINOEM

15

• ManagedadmincostwhilecontinuingtofocusandinvestinBRANDEDPORTFOLIO

SofteningImpactofLowerGrossMargin

24

• MUTEDMOVEMENTinoperatingandnetincomemarginsrelativetomovementingrossprofitandinputcost

• Softcommoditypricesacrossallcategoriesin2016makeforaDIFFICULTCOMPARABLEperiod

• NetmarginsstillSIMILARTO2015

BalanceSheetHighlights

27

inPHPmill 2016 9M 2017

Cash 696 1,207

Receivables 3,955 5,719

Inventory 7,529 7,157

CurrentAssets 12,758 14,712

PPE 3,945 4,409

NoncurrentAssets 7,175 7,816

TOTALASSETS 19,932 22,527

inPHPmill 2016 9M2017

TradeandOtherPayables 4,730 5,073

NotesPayable– Current 671 1,389

Long-TermLoan 1,634 1,634

TOTALLIABILITIES 7,393 8,387

RetainedEarnings 4,015 5,590

TOTALEQUITY 12,539 14,140

BVPS(PHP/sh)* 3.54 3.99

• FasterCASHCONVERSIONCYCLE(96vs103days)withlowerinventorylevel

• CAPEXforCAPACITYEXPANSION,NEWPRODUCTS

• ADDITIONALSHORT-TERMDEBT ofPHP718million

• 9M2017consolidatedNETINCOMEofPHP2.2billionLESSDIVIDENDdeclarationofPHP638million

KeyBalanceSheetMetrics

28

• MaintainedROE above20%

• ManageableLEVERAGEratiosprovidefinancingflexibility

• LowerCURRENTRATIO duetoincreaseinshort-termdebt

Notes:*Netdebttoequity=(TotalLiabilitiesLessCash)/Equity

**Netgearing=(Interest-bearingLiabilitiesLessCash)/Equity

• MaintainedGEARINGratiosdespitehighershort-termdebt

CashFlowHighlights

InPHPmill 9M 2016 9M2017

Profitbeforetax 2,892 2,916

Depreciation 246 383

Workingcapitalchange (1,099) (1,071)

Incometax (733) (704)

OPERATIONSCASHFLOWS 1,527 1,533

AdditionstoPPE (930) (844)

Acquisitions (61) (214)

INVESTINGCASHFLOWS (991) (1,046)

Changeindebt 54 718

Financecosts (72) (73)

FINANCINGCASHFLOWS (490) 24

NETCHANGEINCASH 46 512

Cash,ENDING 768 1,207

FREECASHFLOW 597 688

• HigherDEPRECIATIONduetocapacityexpansion

• CAPEX2017F:approxPhp 1.0billion

29

• MaintainedPOSITIVEFREECASHFLOWfortheperiod

• AcquisitionofHunt’strademarkin2017

• STdebtforworkingcap,Hunt’sacquisition

WorkingCapital

30* period-endfigureswereusedtocomputefortheworkingcapitalcomponents

6,7537,803

0

50

100

150

0

2,000

4,000

6,000

8,000

2016 9M2017WorkingCapital WCDays

7,529 7,157

0

50

100

150

0

2,000

4,000

6,000

8,000

2016 9M2017Inventory Inventorydays

4,730 5,073

0

50

100

150

0

2,000

4,000

6,000

8,000

2016 9M2017Payables Payabledays

3,955

5,719

0

50

100

150

0

2,000

4,000

6,000

8,000

2016 9M2017Receivables Receivabledays

140Inventory Payables

WorkingCapital Receivables

108

51

64

PHPm PHPm

PHPm PHPm#ofdays

#ofdays

#ofdays

#ofdays

103 95

88 77

• LowerinventoryandREDUCEDRAWMATERIALSTOCKS duetohighertunaprices• IncreaseinreceivablesduetohigherNON-TRADEreceivables(supplieradvances)

• TOPLINE:StrongtoplinegrowthshouldbesustainabledrivenbypositivebrandedmomentumintoQ4

• BOTTOMLINE:Likelyflatearningsgrowthin2017versus2016,despitegoodtopline performance

• MagnitudeofthemoveininputpricethisyearisUNUSUAL– TOUGHERBUTTEMPORARYcostenvironment

• Continuethemomentumofrevenuegrowth,maintainmarketleadershipinkeycategories,investinbrandsandnewproductstoPUTCOMPANYINGOODPOSITIONTOBENEFITONCEINPUTPRICESSOFTEN

FY17GuidanceandOutlook

25

1.61.9

2.7

2014 2015 2016 2017B

+21%

+37%

NetIncomeinPHPbillions

2017F

10.00

12.00

14.00

16.00

18.00

20.00

Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17

PHP/SHARE

StockHighlights

52-Week Stock Price Performance (Bloomberg Ticker: CNPF PM)

31

$1.1B$0.8BDecember2015

MARKETCAPITALIZATION

November2017

AVERAGEDAILYVALUETRADED

$0.8M$0.2M2015 Last3Months

Source: BPI Securities2017Estimates CNPF PhilConsumer

Average

PER 20.0x 24.7x

PBV 3.9x 4.4x

ROE 20.8% 16.9%

2%YTDReturn

InvestorRelations

32

Asof11/16/17

CurrentPrice PHP16.30

52WeekRange PHP14.00-19.20

YTD Avg Turnover USD0.8Million

Market CapitalizationPHP57.74BillionUSD1.14Billion

FreeFloat 23.84%

YTDAbsolutePerformance

-0.6%

YTDRelativetoIndex

-21.5%

YTDRelativetoSector

-12.8%

3MoAbsolutePerformance

-3.8%

3MoRelativetoIndex

-7.1%

3MoRelativetoSector

-6.7%

Sell-SideCoverage

FTSEIndexSmallCapandAllCap – AsiaPacific

March20,2017

MSCIPhilippineSmallCapMay31,2016

Philippines’BestManagedCompany

SmallCap(2016)

Philippines’BestCompanyMidCap(2016)

33

This document is highly confidential and being given solely for your information and for your use and may not be, or any portion thereof, shared, copied,reproduced or redistributed to any other person in any manner.

The statements contained in this document speak only as of the date which they are made, and the Company expressly disclaims any obligation orundertaking to supplement, amend or disseminate any updates or revisions to any statements contained herein to reflect any change in events, conditionsor circumstances on which any such statements are based. By preparing this presentation, none of the Company, its management, and their respectiveadvisers undertakes any obligation to provide the recipient with access to any additional information or to update this presentation or any additionalinformation or to correct any inaccuracies in any such information which may become apparent.

This presentation contains statements, including forward-looking statements, based on the currently held beliefs and assumptions of the management of theCompany, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements in particular involve known and unknown risks,uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, todiffer materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given theserisks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forward-looking statements.

Any reference herein to "the Company" shall mean, collectively, Century Pacific Food, Inc. and its subsidiaries.

Ortigas Center, Pasig City, Philippines

+632-633-8555

www.centurypacific.com.ph

investorrelations@centurypacific.com.ph

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