Strictly Private & Confidentialinvestor.carabaogroup.com/misc/presentation/... · Forward looking statements in this presentation are based on the management’s assumption in light

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Strictly Private & Confidential

Feb, 2017

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DisclaimerThe provision herein does not constitute legal advice or investment opinions of any kind, neither is it intended as an offer,solicitation for Carabao Group PCL. (“CBG” or “The Group”). The information presented within this material is intended to indicatethe Group’s operational and financial position at a given period of time and to be used, downloaded, and distributed for analystbriefings, and general meetings with CBG, and to be used for educational material in order to understand CBG’s operation only.The Group makes no representation that all information is complete and accurate for the purpose of producing a projection ofCBG’s operations, performance, or financial position and may be susceptible to uncertainty and important changes based onpolitical, economic, strategic, and other such uncontrollable factors. Forward looking statements in this presentation are based onthe management’s assumption in light of information currently available and obtainable, as well as theaforementioned/unmentioned risks and uncertainties. CBG’s actual results may vary materially from those expressed or implied inits forward-looking statements, and no assurance is made as to whether such future events will occur. The Group accepts noliability whatsoever for any loss arising directly or indirectly from the use or endorsement of any information contained herein byany users and/or third parties.

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22

Agenda

4Q16 & FY16 Performance Update

1) Financial

2) Business Update

3) Corporate Profile

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33


1. Financial

3

44

M-150

Market Share Comparison For FY2016

Source: Nielsen energy drink market report, December 2016 ("Nielsen Report")

78% 84% 84% 90% 91% 95% 95% 95% 96% 96%

Selling Distribution (Coverage) Selling Distribution (Coverage)

Carabaodang

31.0%31.4%

30.7%

32.0%

30.9%

32.6% 32.6%33.1% 33.1%

32.6%33.0%

33.4%

32.8% 32.5%

33.3%32.9% 33.0%

31.8% 31.6% 31.4%

30.6%31.0%

31.5%

31.7%

JAN16 FEB16 MAR16 APR16 MAY16 JUN16 JUL16 AUG16 SEP16 OCT16 NOV16 DEC16

Number 1 in Central region since June’ 16• Central region is the largest region for energy drink consumption, representing

35.40% of the Thai traditional trade channel

CBG’s contribution by region

4

55

6,863 7,448 7,753

9,965

2,076 2,858

2,102 2,316 2,689 2,858

FY13 FY14 FY15 FY16 4Q15 4Q16 1Q16 2Q16 3Q16 4Q16

(Baht mil)

Total Sales Revenue

BREAKDOWN OF DOMESTIC AND EXPORT SALES BREAKDOWN BY SALE CHANNEL OF DOMESTIC SALES

3YR CARG +13.4%

72% 71% 66%

28% 29% 34%

FY14 FY15 FY16

70% 64%

30% 36%

4Q15 4Q16

EXP

DOM

+37.6% +6.28%

+28.5% Key growth contributors

• Domestic : Push Strategy (Cash Vans) & Pull Strategy coupled with New Products

• Export: : Continuous growth in export markets mainly due to growth from Cambodia & Afghanistan

20.6%

5,4776,603

24% 22%

73%63%

2%15%

FY15 FY16

TT(CV)

TT(Agent)

MT

5

66

90.7%

3.7%

5.5%

91.1%

2.1%

3rd parties 3.1%

2.2%

1.5%

Sales Revenue Breakdown

FY2016

DOMESTIC

SALES

5,358 5,477

6,603

1,453 1,820

1,387 1,546 1,850 1,820

FY14 FY15 FY16 4Q15 4Q16 1Q16 2Q16 3Q16 4Q16

+25.2% - 1.6%

+20.5%

2,094 2,276

3,362

624 1,038

717 769 838 1,038

FY14 FY15 FY16 4Q15 4Q16 1Q16 2Q16 3Q16 4Q16

+66.3% +23.86%

+47.7%

(Bath Mill)

FY2016

OVERSEAS

SALES

Annual domestic sales growth is attributed to the following:

Carabaodang and Start Plus grew 12% and 53% yoyrespectively

New branded product launches in 2016 i.e. Water and Coffee collectively amounted to THB 238mn in sales

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77

Overseas Sales by Country

Cambodia

CLMV GROWTH YoY

1,315

1,868

2,526

FY14 FY15 FY16

Cambodia62%

Afghanistan14%

Myanmar8%

Vietnam5%

Yemen5%

UK 2% others 2%

Baht Mil FY14 FY15 FY16 %YOY 4Q15 4Q16 %YoYCambodia 1,006 1,547 2,074 34% 461 599 30%Myanmar 243 223 279 25% 40 100 150%Vietnam 66 98 173 77% 22 68 209%Yemen 169 167 202 21% 42 70 67%Afghanistan 531 164 481 193% 44 160 264%United Kingdom 62 100% 21 100%Others 76 77 91 18% 15 20 33%Total 2,091 2,276 3,362 48% 624 1,038 66%

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88

Gross Profit Margin

33.30%38.80% 37.30% 38.60% 34.76%

34.70%32.40% 33.20% 32.70%

32.5%

FY14 FY15 FY16 4Q15 4Q16

Domestic Export

33.7% 36.9% 35.90% 36.80% 33.9% TOTAL

Carabao

&Start Plus : 38%

Remaining:15%

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99

Statement of Consolidated Comprehensive Income

9

Unit: THB million 2015 2016 FY2016 FY2016 4Q15 4Q16 4Q16 4Q16%sales YoY %sales YoY

Revenue from sales 7,753 9,965 100.0% 28.5% 2,076 2,859 100.0% 37.7%Costs of goods sold 4,893 6,388 64.1% 30.6% 1,312 1,889 66.1% 44.0%Gross profits 2,860 3,577 35.9% 25.1% 764 969 33.9% 26.8%Selling expenses 1,120 1,484 14.9% 32.5% 359 521 18.2% 45.1%G&A expenses 360 510 5.1% 41.7% 104 170 5.9% 63.5%Operating profits 1,380 1,583 15.9% 14.7% 301 278 9.7% -7.6%Other incomes 121 147 1.5% 21.5% 30 27 0.9% -10.0%Other expenses 35 42 0.4% 20.0% - 42 1.5% 42.0%EBIT 1,466 1,686 16.9% 15.0% 331 261 9.1% -21.1%EBITDA 1,702 1,912 19.2% 12.3% 391 316 11.1% -19.2%Interest expenses 2 4 0.0% 80.0% 1 2 0.1% 60.0%EBT 1,465 1,638 16.4% 11.8% 330 215 7.5% -34.8%Income tax expenses 209 278 2.8% 33.0% 42 63 2.2% 50.0%Net profits for the period 1,256 1,404 14.1% 11.8% 288 196 6.9% -31.9%

1,256 1,490 14.95% 18.6% 288 281 10% -2%

Non-Controlling interest in 2016 -85 THB million ,-1% Sales for FY2016

Equity Holder of the Company

1010

Statement of Consolidated Financial Position

ASSETS Dec-15 Dec-16 Change LIABILITIES Dec-15 Dec-16 Change

Current Assets Current LiabilitiesCash, Cash Equivalents 1,377 745 (632) Bank overdrafts&short-term loans from financial institutions - 750 750

Current Investments 473 604 131 Trade and other payable 802 1,302 500

Trade and other receivable 425 562 137 Other Current Liabilities 150 272 122

Inventories 249 433 184 Total Current Liabilities 951 2,324 1373

Other current assets 17 110 93 Total non-current liabilities 77 354 277

Total Current Assets 2,541 2,454 (87) Total Liabilities 1,028 2,678 1650

Non-Current Assets SHAREHOLDERS' EQUITYLong-term Investment - - Issued and fully paid up share capital 1,000 1,000 - Investment Properties 108 104 (4) Premium on shares 3,963 3,963 - Property, plant & equipment 4,667 6,626 1,959 Retained earnings 938 1,477 539 Intangible Assets 16 15 (1) Other components of shareholders' equity 432 432 - Deferred Tax Assets 25 34 9 Equity attributable to owners of the Company 6,333 6,873 540 Other non-current assets 4 8 4 Non-controlling interests of the subsidiary - 226 226

Goodwill - 536 536 Total Non-Current Assets 4,820 7,323 2,503 Total shareholders' equity 6,333 7,099 766 Total Assets 7,361 9,778 2,417 Total liabilities and Equity 7,361 9,778 2,417

STATEMENT OF FINANCIAL POSITION Unit THB million

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1111

Our SKUs (Energy Drink)

ProductsCarabao

Energy Drink(Original)

Carabao Energy Drink (Original

Export)

CarabaoCarbonated

Carabao Ginseng Edition

Carabao Carbonated (Original)

CarabaoCarbonated (Sugar Free)

Carabao Carbonated (Green Apple)

Descriptions • 150ml amber glass bottle

• Flat taste

• Caffeinated + B12

• 250ml aluminum can

• Flat taste

• Caffeinated + B12


• Carbonated

• Caffeinated + Multivitamins

• 325 ml aluminum can

• Carbonated


• Ginseng Extract


• Carbonated


• Less sugar (1:4)


• Carbonated


• Sugar Free


• Carbonated


• Green Apple Flavour

Markets Domestic (mainly)

Export Only Export in Asia First market: Afghanistan

First market: UK First market: UK First market: UK

Launch Date October 2001 2004 May 2015 February 2016 April 2016 August 2016 October 2016

Retail Selling Price

10 THB(domestic)

Differ in various countries

2,000 Riel(17 Baht)

Differ in various countries

1.19 GBP 1.19 GBP 1.19 GBP

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Our SKUs (non-Energy Drink)

Products Start Plus CarabaoDrinking Water

Carabao Coffee (Rich Aroma)

Carabao Coffee (Espresso)

Carabao Coffee (Robusta)

Carabao Coffee (Espresso)

Descriptions • 250ml glass bottle

• Flat taste

• Electrolyte & vitamins

• (No caffeine)

• 2 size = 600ml & 1200ml

• Outsource production

• Distribution through Cash Vans Channel

• 30 small sticks in 1 pack


• Distribution through Cash Vans Cannel and Tesco

• 30 small sticks in 1 pack


• Distribution through Cash Vans Cannel and Tesco

• 180ml can


• Distribution through Cash Vans Channel, BigC and 7-Eleven

• 180ml can


• Distribution through Cash Vans Channel, BigC and 7-Eleven

Domestic Market

Launch Date May 2014 February 2016 July 2016 November 2016

Retail Selling Price

10 THB 7 & 12 THB 85 THB 10 THB

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Products Seaweed Dish Washing Liquid

Peanuts Fish Snacks Toothbrush Razor Juice

Retail Selling Price (THB)

5 10 5 5 10 10 10

Launch Date

November 2015 April 2016 June 2016 July 2016

Products Fabric Softener Squid Snacks Cigarettes(10Skus)1

Toilet Cleaner Tissue Detergent

Retail Selling Price (THB)

10 5 40 - 86 25 5 10

Launch Date

August 2016 September 2016 October 2016 December 2016

3RD Party Products in Cash Vans

1

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2. Business Update

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1. Cash Vans & DCs Plan Completed

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7 DCs

8 DCs

3 DCs

W

4 DCs

2 DCs

6 DCs

Target reached since October 2016:30 DCs with 337 Vans, covering approx. 320,000 retailers nationwide

% contribution of Branded products

• Began in Feb’15 and thus far accomplished 30 DCs located throughout the country

• Average sale amounted to THB 17,800 per van per day with 70% of which contributed by our branded products

70% 19% 7% 4%Total

Carabao Coffee Drinking Water StartPlus

70% 30%Total

Branded Product 3rd Paties

% contribution of total CV sales

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2. UK Business Update

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2. UK Business Update (Cont’d)

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2. UK Business Update (Cont’d)MT and TT account for 60% and 40% respectively of the market

• Modern Trade (MT) 35%

• Traditional Trade (Cash & Carry) 50%

• Others

60,000UK’s shop nation wide

Our target For 2017

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3. New bottling lines at the Bangpakong site

4

Construct a brand new factory to boost capacities in anticipation of increasing demands for energy drinks in bottle format

Items Descriptions

Project • Bangpakong Bottle Filing Project

Size of investment • Approx THB 1,750mn

Description • Build a brand new and modernized 2-storey factory covering approx 15 rais of land plot to accommodate up to 10 bottle filling machines

• Move away from fuel oil to natural gas base for heating operations

• Initially involve an installation of 2 new high-speed lines, with each being capable of 1,000 bottles per minute or 24 million bottles per month, with option to relocate 5 existing lines from the Bang-bor site

• Total capacities of the Bang-bor and Bangpakong sites to reach 1,535 million bottles per year

Source of fund • A combination of internal cash flows and loans of approx<THB 1,500mn from commercial bank(s)

Indicative timetable • 1Q/2017: Construction and planning started

• 4Q/2017: Test run and production commencement

• 4Q/2017: Relocation of the existing bottling lines

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2020

4. The Greater China JV arrangements

4

Extended reach to the Greater China region through a JV arrangement with a group of Chinese investors and management

Items Descriptions

Project • Greater China Investment Project

Size of investment • Equivalent to USD 40.0mn whereby CBG through the subsidiaries USD 17.7mn

Description • Establish JV companies in partnership with Chinese investors and management

• Conduct marketing, sales and distributions of energy drinks and other drinks under Carabao trademark and/or other trademarks to be developed or acquired by the JV companies

• Kick off with the PRC market and potentially further to other markets i.e. Hong Kong, Macau and Taiwan

Source of fund • A combination of internal cash flows and loans from commercial bank(s)

Indicative timetable • Mar 2017: Enter into the joint venture agreements; and

• Apr 2017: JV companies established

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Structure of the transaction

4

USD 17.7mn by capital increase

Operating company

Operating company

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2222

Energy drinks in the PRC market

4

22

Billion USD

2323

Our marketing plans in the PRC market

4

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2424

Our marketing plans in the PRC market (Cont’d)

4

24

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5. Brazil Market Opportunity

• Football is the most popular sport ,which often refer to the country as "o País do Futebol " ("the country of football")

• Flamengo FC is the most popular team with over 39.1 supporters

• One of Brazil’s richest football clubs and the second most valuable club in South America

Carabao Brand successful launched partnership

with Flamengo F.C. in January 2017

Local distributor is responsible for the sponsorship with the Flamengo football club.

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The Brazilian Market Of Energy Drink

Red bull 43%

Ambev 10%

Globalbev 5%

Monster 4%

Coca-Cola 10%

Pretropolis 8%

Others 20%

0

500

1,000

1,500

2,000

2,500

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020Tota

l Co

nsu

mp

tio

n (

Mill

ion

Lit

re )

Brazil Consumption of Energy Drinks

*Source: Euromonitor Oct 2016

Market Share% (2015)

• Brazil is the fifth largest Energy Drink in the World in 2016

• Brazil’s energy drink market reached $1.9bn in 2015

• Growth is forecast to double by 2020 to $4.3bn

210mPopulation

130mLitres

1.6bnEuro

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6. New Factories Progress

Increasing production capacity for amber glass bottle in order to support ongoing growth of Carabaodang bottles

Production Capacity : 650 mn bottles/annum

Production starts : 4Q2017

APG FURNACE 2 –30 % PROGRESS CAN FILLING FACTORY – Test run in February 2017Increase can filling production capacity (beginning with 2 new lines) to support volume growth of overseas business

Production Capacity : 240 mn cans/annum (2 line)

Production starts : 1Q2017

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Appendix3.Corporate Profile

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Shareholding & Company Structure

Major Shareholders 75% Free Float 25%34% Mr. Sathien Setthasit’s Group

27% Ms. Nutchamai Thanombooncharoen’s Group

14% Mr. Yuenyong Opakul’s Group

Manufactures, markets and sells the Group’s products

Manages the domestic distribution of the Group’s product

Manufactures and supplies glass bottles required for the manufacturethe Group’s product

CBHHK ,Newly incorporated in 2016 to operate as an overseas holding company

CBVLUX, Newly incorporated in 2016 to operate as an overseas holding company

ICUK, Distribute and sell energy drink under Carabao trademark in the UK as a result of the Distribution Agreement granted by CBD.

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Mr. Sathien SetthasitChief Executive Officer

Co-Founder of the Group in 2001

Ms. Nutchamai ThanombooncharoenManaging Director

Co-Founder of the Group in 2001

Mr. Yuenyong Opakul (Add)Senior Deputy Managing Director• Co-Founder of the

Group in 2001• Lead singer of

Carabao• Brand Ambassador of

Carabao energy drink

Mrs. Wongdao ThanombooncharoenSenior Deputy Managing Director

Been with the Group since 2008

Mr. Kamoldist SmuthkochornDeputy Managing Director – Marketing


Mr. Pongsarn KhlongwathanakithChief Financial Officer

Joined in 2015, from CIMB Investment Bank

Mr. Paiboon KujareevanichDeputy Managing Director – Operation


Mr. Kartchai Jamkajornkeiat Assistant Managing Director – Production/ Int’l BusinessBeen with the Group since 2012

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Management TeamINSTRUMENTAL TO BUILDING COMPANY’S SUCCESS

1. The company seeks to create customer satisfaction through proactive marketing innovations

2. The company is determined to expand its global footprint via strategic partnerships and integration opportunities

3. The company is dedicated to maintain a quality management system, using know how to drive its business as well as being responsible towards its community and society

MISSION

Mr. Romtham SetthasitAssistant Managing Director


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Milestones and Developments

NO. 1

Challenger

2004 Began

exporting to 15 countries

Oct 2002 Carabao Dangwas launched

2012 DCM established as a

distributor for Carabao products

2013 APG manufactured glass bottles for Carabao products

2004 In 18 months of the launch, Carabao overtook Krating Daeng position to

become the No. 1 challenger in the market

2014 Start Plus Zinc an

electrolyte beverage was launched

Nov 2014 Carabao Group began

trading in Stock Exchange of Thailand

2015 Start establishing

own distribution centers

with a national coverage

of 300,000 outlets

Jul 2016

Carabao 3in1 Coffee

was launched

Oct 2016 Carabao

RTD Coffee

was launched

2016

Carabao Drinking Water was launched

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Milestones and Developments (Cont’d)20

01 • 3 co-founders jointly invested in CBD

• Registered capital 1 mil. Bt.

• First bottling line installed at the factory

• Registered capital increased to 130 mil. Bt.

• First commercial operation commenced (Oct.) first energy drink launched

• Bottling lines increased to 3 (max. cap. 275 mil. bottles p.a.)

• Exclusive distributor appointed in Thailand

2002


• 3 additional bottling lines Installed (increases total max. cap. to 548 mil. bottles p.a.)

• Won “popular vote” from Marketing Association of Thailand for the TV ad

2003

• Canning line installed (max. cap. 117 mil. cans p.a.)

• Production and export of can product started

2004

• 1 additional canning line installed (increasestotal max. cap. to 205 mil. cans p.a.)

2010

2011

• 2 additional bottling lines installed (increases total max. cap. to 700 mil. bottles p.a.)

• DCM first registered capital 1 mil. Bt., and increased to 100 mil. Bt.

• Third party replaced by DCM to fully distribute CBD’s products

2012

2013

• 2 additional bottling lines installed(increases total max. cap. to 850 mil. bottles p.a.)

• 1 additional canning line installed (increases total max. cap. to 350 mil. cans p.a.)


• Registered capital increased 620 mil. Bt.

2014

• Paid up capital of APG increased in full to 450 mil. Bt.

• Paid up capital of CBG increased to 1,000 mil Bt.

• Krones bottling line installed (increases total max. cap. to 1,080 mil. bottles p.a.)

• 2 of CBD’s bottling line reduced for manufacturing Start + (max. cap. 120 million bottles p.a.)

• Start+ launched in May

• First commercial operation commenced by APG in Aug. (max. cap. 650 million bottles p.a.)

• Carbonated CBD launched (in Cambodia)

• Started cash vans and distribution centers. (9 DCs in 2015)

• Sponsorship of Chelsea FC

2015

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2016 • New Carabao products

(Water & 3in1 & RTD Coffee)

• Announcement to hold 51% of shares in ICUK via offshore holding companies

• Sponsorship of EFL (Carabao Cup)

• Expansion of APG 2. (max. cap. 1300 million bottles p.a.)

2017

• Announcement to hold 46% of shares in DVHBVI and HVPRC via offshore holding companies in The Greater China

• Expansion of Bottling Filing ( increases total max.cap.to 1,535 mil.bottles p.a.)

• 2 additional canning line installed by CBD (increases total max. cap. to 800 mil. cans p.a.)

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Synchronization & Efficiency

Research & Development

Raw Materials & Sourcing

Manufacturing

Distribution

Marketing

Limit risk exposure to price volatility and reduce third party dependency

Maximized quality control ISO 22000

Strong relationship with agents

Countrywide distribution network

New products consistently improved and developed

Largest in-house sales & marketing team for energy drinks in Thailand

Direct consumer engagement nation wide

(Mixing + bottling + capping)

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Vertical Integration Business Model

3434

Carabao is Thailand’s legendary music-for-life & one of the most respected band in Thailand

Carabao & Santana in Bangkok 29th Feb. 2016[Est. 1981]

34

Strong brand recognition associated with Carabao band

Songs for life music are reflections of aspects of Thai society

For over 30 years, Carabao songs have been known to speakto the Thai people in a manner that can easily be related totheir own life experience and provide the hope and strengthto keep fighting.

The result is a truly passionate fan base that are overlappingwith energy drink target groups across the country that livesand breathes the Carabao “Fighting Spirit”.

353535

The Carabao Legacy (Cont’d)

363636

From Band to Brand

“Carabao” is an energy drink inspired by the resilient, positive spirit of the Thai people. It is more than an energy drink, it is a Positive Energy Enabler.

“The Fighting Spirit”

The BirdFreedom, Unity, Creativity, Self Expression

The BuffaloStrength, Power,

Perseverance, Respect

A Brand with a Heart and Soul

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47.70% 46.90% 46.80%44.40% 43.60%

17.50%21.10% 21.50% 21.70%

23.90%

11.80% 11.20% 11.80% 12.60% 11.80%8.30% 7.90% 7.90% 8.20% 7.60%

2012 2013 2014 2015 2016

Market Share of Top 4 Energy Drinks in Thailand

M150 CBD KTD Lipo

Thai energy drink market brand equity index1

BEI = Brand Awareness 25% + Brand Perception 25% + Brand Loyalty 50%

Note: (1) “Brand Equity Index (BEI)”, The Searcher Brand Study, March 2016 (2) “Estimated market share of Thai energy drink market”, Nielsen Energy Drink Market Report, December 2016 37

• We became 3rd in the market share within 3 months of our launched back in 2002 (overtooking Wranger).

• We start to exceed Kratindaeng (150 ml) since September/October 2005, and began to be a real threat to Kratindaeng.

• We became second and overtook TC Pharmaceutical in 2011

47.57

41.51

27.77

21.20

M150 CBD Red Bull Lipo

Strong brand recognition associated with Carabao musical group

2

3838

APG Glass Bottle Manufacturing FacilityCommenced production in Aug, 2014

Maximum molten glass production of 310 tonnes per day

Capable of producing approximately 650 million bottles p.a.

State-of-the-art technology using glass cullet as raw materials

BOI privilege for 6 years since commencement

New Facility of 650 million bottles p.a. will be added and to start production by end of 2017 (Combined capacity=1,300 million bottles p.a.)

CBD Production Facility Bottle CBD - 9 production lines –max. prod. cap. of 1,080 million bottles p.a.

- 2 new lines and new facility with additional 500 mil.

bottles p.a. by end of 2017 (Combined capacity = 1,500 mil.)

bottles)

Can CBD – 3 production lines –max. prod. cap. of 350 million cans p.a.

• 1 switchable production line for carbonated energy drink max. cap. 72 million cans p.a.

• 2 New canning line (To be installed by 2017) –max prod. cap. of 480 million cans p.a.

Total can production capacity increases to around 800 million cans p.a.

Start+ –2 production lines -max. prod. cap. of 120 million bottles p.a.

Certifications

Own manufacturing facility –Maximized quality control

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393939

Marketing ChannelsDedicated in-house marketing team has established strong relationships with multiple media channels, enabling us to react to market trends and minimize lead time and costs

Flexible uses of multimedia channels to reach target consumers: media advertising, on-the-ground marketing team, brand ambassador and event sponsorships

Below the Line

On-ground marketing

More than 148 BaoDangGirl Teams, consisting of over 893 members promote social activities

Brand Ambassador and events sponsorships

Celebrity spokesperson promoting our brand, as well as enhancing corporate image

Contributes significantly in establishing our brand

Regularly sponsor events which appeal to target consumers

Above the Line

TV commercials for wider reach

Print ads in magazines, newspapers and posters

4040

3.00

3.50

4.00

4.50

5.00

Is a popularbrand

Frequently seenadvertisement

Highly accessible Get rid ofsleepiness

Refreshing Alert andenergetic

Long acting Contain brain-nourishingsubstances

Good taste Extremely goodtaste

Carabao Dang M150 Redbull Lipo

[ N= 1,000 each]

Brand performances based on selected criteria

Source: The Searcher Brand Study, May 2015

CBG as an innovator advertising B12 in energy drinks

40

Innovative Marketing: Advertising of Vitamin B12

4141

End Consumers

Carabao Group

1. Traditional Trade – 78%1

2. Modern Trade – 22%1

3. Importers, Distributors, International Dealers

Domestic Market – c.66%1

International Market – c. 34%1

End Consumers…

… …

Tier 1

Tier 2Tier 2

Tier 3Tier 3 Tier 3

Retailers

Convenience stores, Supermarkets, Hypermarkets

Traditional retail shops

> 50 agents

> 1,200 sub-agents

Note: (1) Sales Figure, 2016(2) Launched in Q2/15 . Reach 30 distribution center in 2016

B. Cash Vans – 15%2

A. 3-tiered agent distribution network – 63%

41

Comprehensive Distribution Network

> 320,000 retailers

4242

The Global Market

North America

$24.3bn

Australia

$2.7bn

Europe

$11.5bn

Latin

America

$4.7bn

Africa

$2.1bn

UAE

$2.7bnAsia

Pacific

$14.85bn

The opportunity is to capture 10% of the Global Market by 2019

The growth in the Energy Drink market

is predicted to continue with sales reaching $62bn by 2019

$6.2bn by 2019

42

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Global market strategy

Football Fan CultureBrand Exposure

THE WORLD’S NO.1 SPORT

3.5 BILLION FANS WORLDWIDE

Global Football Platform

43

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THE WORLD CLASS COMBINATION

Strategic Partnership

Principal partner sponsorship value = £30* mil./3 seasons (start 2016-2019)

Principal partner sponsorship value = £18* mil./3 seasons (start 2017-2020)

The EFL Cup will be renamed the “Carabao Cup”

44

4545

Strategic Partnership(Cont’d)

45

464646

Statistic Information

Note Based on an assumption of THB 35 = 1 USD

Carabao Group PLC. As of 16 March 2017 Closing Price: THB 56.25

Ticker SET: CBGReuter: CBG.BKBloomberg: CBG:TBGoogle Finance: BKK:CBG

Listing date 21 November, 2014Listing Venue SET F&B, SET50Par Value 1 BahtShares outstanding (mil.) 1,000Market Cap. THB 59,500mn / USD 1.7bn 52 weeks High/Low THB 80.75 / THB 36.25Free Float 24.7%Foreign Limit 49.0%Dividend policy at least 40% of consolidated net profitEPS (TTM) THB 1.49P/E (TTM) 37.76xP/BV 8.16xDividend Yield 1.78%Auditor: EYBoard of Directors 9 members (4 independent)

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Documents

Strictly Private & Confidentialinvestor.carabaogroup.com/misc/presentation/... · Forward looking statements in this presentation are based on the management’s assumption in light