MiFOOD2017Grand Rapids

April 18th 2017

Daragh MaccabeeSVP Procurement & Dairy Economics

Glanbia Nutritionals

DELIVERING BETTER NUTRITION FOR EVERY STEP OF LIFE’S JOURNEY

OUR BUSINESSES TODAY

2

PORTFOLIO OF PERFORMANCE

NUTRITION BRANDS

GLANBIAPERFORMANCE

NUTRITION

GLANBIANUTRITIONALS

DAIRY IRELAND

JOINT VENTURES

& ASSOCIATES

NUTRITIONAL& FUNCTIONAL INGREDIENTS SOLUTIONS

CONSUMERPRODUCTS &

AGRIBUSINESS

GII (Ireland), GLANBIA CHEESE

(UK), SOUTHWEST

CHEESE

MARKET CAP

€5BNEMPLOYEES

6,200COUNTRIES

32

DELIVERING BETTER NUTRITION FOR EVERY STEP OF LIFE’S JOURNEY

GLANBIA STRATEGY IN ACTION

5

International Focus

Two Global Growth Platforms (GPN & GN)

Organic growth supported by capex and acquisitions

€30m€29m

€62m

€43m

€162.6m

€111.8m

€44.7m€30.7m

2010 earnings:

€163m

2016 earnings:

€350m

Dairy Ireland

JV’s & Associates

Glanbia Nutritionals

Glanbia Performance Nutrition

DELIVERING BETTER NUTRITION FOR EVERY STEP OF LIFE’S JOURNEY

GLOBAL CONSUMER TRENDS

6

Global health and wellness sales to hit a record high of $1tn by 2017

$1tnof Americans snack at least once per day

94%of US consumers

select foods based on the ingredient

list and nutritional facts panel

50%More than

People are members of

fitness centers in the US

55M

GLANBIA SITS AT THE HEART OF POWERFUL CONSUMER MEGATRENDS IN THE FOOD INDUSTRY

Health and Wellbeing

Active Lifestyles

Easy Convenient and on-the-go

Clean Labelling

DELIVERING BETTER NUTRITION FOR EVERY STEP OF LIFE’S JOURNEY

GLOBAL GROWTH STRATEGY

7

Strong track record of identifying acquisitions, organic projects and strategic alliances to drive growth.

ASEPTIC SOLUTIONS USA

Q32008

Q12011

Q32012

Q42014

Q12014

Q42015

ACQUISITIONS

Q12017

Q12017

Q22006

Q32006

DELIVERING BETTER NUTRITION FOR EVERY STEP OF LIFE’S JOURNEY

GLOBAL GROWTH STRATEGY

8

PHASE II GPN MANUFACTURING PLANT, ILLINOIS

HIGH END WHEY EXPANSION,

IDAHO

DAIRY INGREDIENTS

FACILITY, IRELAND

CHEESE & WHEY EXPANSION, NEW MEXICO

PHASE I GPN MANUFACTURING PLANT, ILLINOIS

SPECIALTY GRAIN INGREDIENTS,

SOUTH DAKOTA

GII STRATEGIC ALLIANCE,IRELAND

CHEESE INNOVATION

CENTER, IDAHO

ORGANIC GROWTH PROJECTS & STRATEGIC ALLIANCES

PREMIX FACILITY, SUZHOU

Q32011

Q22008

Q42012

Q22013

Q22014

Q42015

Q22013

Q22015

Q42015

Q12017

STRATEGIC JV MICHIGAN

Exciting Strategic Initiatives Announced

Proposed JV in Michigan

2016 Full Year Results | Slide 9

GPN acquisitions

Amazing Grass andBody & Fit

Glanbia Nutritionals

GLANBIAPERFORMANCENUTRITION

PORTFOLIO OF PERFORMANCE

NUTRITION BRANDS

#1

DELIVERING BETTER NUTRITION FOR EVERY STEP OF LIFE’S JOURNEY 11

GLANBIA PERFORMANCE NUTRITION

11

Protein Pre-workout Muscle builders General health

Leading brands across a variety of formats & channels

€1BNGlobal business

State-of-the-art in-house production facilities setting industry standards for

#1 Global sportsnutrition brand family

24Countries

Consumption spanning performance athletes to on-the-golifestyleconsumersQUALITY

Healthy snacking

GLANBIANUTRITIONALSGlanbia Nutritionals has a portfolio focused on both dairy and non-dairy nutritional ingredients. We deliver nutritional and functional ingredient solutions, and precision premixes for use in the nutrition-enhanced mainstream food and beverage markets, infant and clinical nutrition and functional nutrition markets.

DAIRY & PLANT BASED PROTEINS

CHEESE MICRONUTRIENT PREMIXES & BIOACTIVES

GRAINS & SEEDS

FUNCTIONALBEVERAGES

NUTRITIONAL& FUNCTIONAL INGREDIENTS SOLUTIONS

DELIVERING BETTER NUTRITION FOR EVERY STEP OF LIFE’S JOURNEY

GLANBIA NUTRITIONALS

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Cheese

B2B nutritional and functional ingredients

business in 21 countries

€1.2BN21

Countries

Dairy solutions Micronutrientpremixes & bioactives

Plant nutrition Functional beverages

#1 Global whey

protein nutritional solutions

#1 Producer of

American style cheddar cheese

Provider of Customized

Nutrient Premix Solutions Globally

#2

GLANBIA NUTRITIONALS GLOBAL SCALE

8.5

915 M LBS of cheese

#1GLOBAL PROVIDER

OF WHEY-BASED NUTRITIONAL

SOLUTIONS

BILLION LBS PROCESSED PER ANNUM

88 MLBS LACTOSE

50 MLBS HIGH END WHEY

2INNOVATION

CENTERS

11PRODUCTION

LOCATIONS

#1 PRODUCER AMERICAN

STYLE CHEDDAR CHEESE

2000PEOPLE

SOUTHWEST CHEESE

Slide 16

CASE STUDY: SOUTHWEST CHEESE

• $200 million plant in 2005/2006

• $90 million expansion in 2009/2010

• $150m expansion 2018 – 14m lbs per day processing facility in January 2018

• JV partner, Greater Southwest Agency, comprises a number of cooperatives including DFA and Select Milk

SWC TIMELINE

Plant at capacity 7m lbs/day

Expansion complete

10.5m lbs/day

Site Selection First milk processed

WPI expansion Expansion to 14m lbs/day

2003 2005 2008 2010 2011 2018

DELIVERING BETTER NUTRITION FOR EVERY STEP OF LIFE’S JOURNEY 18

MICHIGAN PROJECT

A SCALE CHEESE AND WHEY JOINT VENTURE IN MICHIGAN

• Efficient local processing for growing milk supplies

• Opportunity to replicate the successful Southwest Cheese model

• Convert milk to categories which continue to grow–cheese and higher protein whey products

MICHIGAN PLANT BY THE NUMBERS

2.9

297 M LBS of cheese

20 MLBS

HIGH END WHEY

BILLION LBS PROCESSED PER ANNUM

150 MLBS PERMEATE SOLIDS

8MILLION LBS

OF MILK PER DAY245PEOPLE

NEXT STEPS

• Site selection

• Pre-engineering / Design

• Commercial discussions with customers

• Commissioning expected in late 2019

THANK YOU