Opportunity Day

Q1/2020 Performance

ICHITAN GROUP PLC. 19th May, 2020

@ 11:20 hrs. @ Live via Electronic Device through SET Channel

1

The following presentation may contain forward looking statements by executive of Ichitan Group Public Company Limited (the Company), related to financial or other tendency for future periods, compared with the results for previous periods. Some of the statements contained in this presentation that are not historical facts but these are statements of future estimations with respect to the financial conditions, results of operations and businesses, and related plans and objectives. Disclaimer information is based on management’s current views and assumptions including, but not limited to, prevailing economic and market conditions. These statements involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those in the statements as originally made. Such statements are not, and should not be constructed as a representation as to future performance of the Company. In addition, such statements should not be regarded as a forecast or projection of future performance of the Company. It should be noted that the actual performance of the Company may vary significantly from such statements in this presentation.

DISCLAIMER

2

Contents

Overview & Financial Information CORPORATE OVERVIEW & FINANCIAL HIGHLIGHT

BUSINESS INFORMATION

ICHITAN STRATEGY : 3N

(NEW Product/Market/Business)

INDONESIA

3

Corporate Overview Stock symbol ICHI The Company’s name

“EXCELLENT” CG Corporate Governance

Ichitan Group PLC.

LISTED IN THSI Index

Certified CAC

Registered capital (Fully Paid) 1,300 million Baht

Market/Index Industry/ Sector

SET / SET CLMV/SET THSI Agro & Food Industry /Food & Beverage

SCAN more about ICHITAN

Dividend Policy No less than 40% of net profits after taxes and legal reserve considering from consolidated financial statements (with additional conditions)

4

Corporate Overview Key Milestone

Development

Q1/2020

Launched Product -Shizuoka Premium Tea

-โอเลยง “สภากาแฟ” - นมอดเมด “วนมอร ” “One Morr”

- ลกอม “เยนเยน คล” “Yen Yen Cool”

ภายใตสถานการณ แพรระบาด COVID-19

ตนแบบจดประชม สามญผถอหนผาน สออเลกทรอนกส

E-AGM แบบ Single System

5

FINANCIAL HIGHLIGHT Statement of Financial Position (Unit: million THB)

YoY -6.6%

YoY -39.9 %

YoY 6.2 %

Strong

Financial Position

Lower debt Increased

profit Increased

shareholder’s equity

6

FINANCIAL HIGHLIGHT (Unit: million THB)

International: YoY -18.4% Domestic: YoY + 5.0%

Q1/2020 Q4/2019 Q3/2019 Q2/2019 Q1/2019

DOMESTIC 936.5 938.1 825.4 1,200.2 891.6

INTERNATIONAL 348.9 296.3 309.9 444.9 427.7

7

FINANCIAL HIGHLIGHT (UNIT: million THB) EXPENSES

- 54.7%

17.8%

- 34.7%

8

FINANCIAL HIGHLIGHT Share of profit (loss) of Investment in Joint Venture

Increased in Share of JV Investment

YoY +229.7%

Q1/2020 Q4/2019 Q3/2019 Q2/2019 Q1/2019 YoY%

Share of loss of investment

in Joint venture 8.3 -19.8 1.3 -4.8 -6.4 229.7%

(Unit : million Baht)

Consolidated Financial Statement

(Unit: million THB)

9

159.2

114.2

12.4%

8.7%

-

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

180.0

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

Q1/2020 Q1/2019

Net Profit NPM (%)

NET PROFIT

YoY +39.4%

FINANCIAL HIGHLIGHT (UNIT: million THB)

10

FINANCIAL HIGHLIGHT

Q1/2020 Q4/2019 Q3/2019 Q2/2019 Q1/2019 YoY%

Revenues from sale of Goods 1,285.4 1,234.4 1,135.4 1,645.1 1,319.4 -2.6%

Total Revenues 1,288.0 1,238.4 1,138.1 1,648.3 1,322.9 -2.6%

Cost of Sell of Goods 1,033.1 1,024.3 931.4 1,326.8 1,060.4 -2.6%Distribution Expenses (incl. Marketing&Promotion cost) 62.4 75.7 91.2 144.8 95.5 -34.7%

Administrative Expenses 43.0 54.1 38.2 40.6 36.5 17.8%

Finance Costs 5.3 6.9 8.1 -10.2 11.7 -54.7%

Total Expenses 1,143.8 1,161.0 1,068.9 1,522.3 1,204.1 -5.0%

Share of profit (loss) of investment

in Joint venture 8.3 -19.8 1.3 -4.8 -6.4 229.7%

EBITDA 305.2 210.3 224.1 273.6 264.6 15.3%

Gross Profit 252.3 210.1 204.0 318.3 259.0 -2.6%

Net Profit (Loss) 159.2 83.8 72.6 136.8 114.2 39.4%

Profitability Ratio

Selling (%) 4.9% 6.1% 8.0% 8.8% 7.2%

Admin (%) 3.3% 4.4% 3.4% 2.5% 2.8%

Gross Profit Margin (%) 19.6% 17.0% 18.0% 19.3% 19.6%

Net Profit Margin (%) 12.4% 6.8% 6.4% 8.3% 8.7%

EBITDA (%) 23.7% 17.0% 19.7% 16.6% 20.1%

(Unit : million Baht)

Consolidated Financial Statement

11

Contents

Overview & Financial Information CORPORATE OVERVIEW & FINANCIAL HIGHLIGHT

BUSINESS INFORMATION

ICHITAN STRATEGY : 3N

(NEW Product/Market/Business)

INDONESIA

12

Beverage Industry Update Q1/2020

Trend Premium Tea and Healthy Product Health Consciousness in Thai consumer Online Shopping

Strength & Opportunity Premium Product New Product Development OEM

Obstacle High competition External factor Covid - 19 Pandemic

13

Summer Summer

33.0 31.8

24.9 24.6 23.0 22.4

28.4 28.5 28.5

24.9 24.7 23.0 22.2

24.7 23.1 24.1 22.9 22.3

28.2 30.7 31.7

26.3 27.0 24.1

21.6

24.6 23.4 23.1 22.9

21.1

24.4

1,121 1,106

987 970 918

881

1,109 1,116 1,099

983 986 960

911

1,006 950 973

923 894

1,132

1,229 1,236

1,047 1,065

998

899

1,036

961 919 941

860

982

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

0.0

200.0

400.0

600.0

800.0

1,000.0

1,200.0

1,400.0

SEP17

OCT17

NO

V17

DEC17

JAN

18

FEB18

MAR

18

APR18

MAY18

JUN

18

JUL18

AU

G18

SEP18

OCT18

NO

V18

DEC18

JAN

19

FEB19

MAR19

APR19

MAY19

JUN

19

JUL19

AU

G19

SEP19

OCT19

NO

V19

DEC19

JAN

20

FEB20

MAR

20

Total Thailand : RTD Tea

Volume Sales (MM) Value Sales (MM)

73.4

68.5

2,949 2,782

66.0

67.0

68.0

69.0

70.0

71.0

72.0

73.0

74.0

0.0

500.0

1,000.0

1,500.0

2,000.0

2,500.0

3,000.0

3,500.0

YTD 2019 YTD 2020

Total Thailand : RTD Tea

Volume Sales (MM) Value Sales (MM)

-5.6% Value

-6.7% Volume

RTD Tea Market size & % Growth in Q1/2020

14

15,968 15,574 15,000

13,237 11,951

12,320

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

Yr2014 Yr2015 Yr2016 Yr2017 Yr2018 Yr2019

RTD Tea Market Update

RTD tea market value Year 2018 was 11,951 million Baht.

RTD tea market value Year 2019 was 12,320 million Baht.

RTD tea market CAGR -4.3 % during year 2014-2019

Market value of RTD Tea in Thailand

million THB

Source : Nielsen Retail Audit 14

Source : Nielsen Retail Audit

RTD Tea Market by Segment in Q1/2020

67%

11%

9%

12%

ICHITAN GT 280 ml

ICHITAN GT 420 ml

Growth +70.73%

Growth -6.23%

140

82

241

257

105

111

90

124

YenYen 400 ml Growth -27.42%

YenYen 315 ml Growth -5.41%

45

38

87

90

Shizuoka Growth -3.33%

ChewChew Growth +18.42%

2,782 MB

Market Growth -5.6%

Growth -3.5%

Growth -28.1%

Growth +6.5%

Growth -1.5%

15

Production capacity to 1,500 Bottles/year PET Production (million Bottles/year) UHT Production (million Bricks/year)

OEM ratio has tendency to decrease continuously in the future after increasing production capacity in phase 2

0

400

600

1,000

1,200 1,200

1,500 1,500

200 200 200 200 100%

47%

25%

9%

3% 4%

8%

75% 45%

Yr2011 Yr2012 Yr2013 Yr2014 Yr2015 Yr2016 Yr2017 Yr2018 Yr2011 Yr2012 Yr2013 Yr2014 Yr2015

Capacity OEM

0%

Average utilization in FY 19 was 49 % which increased from FY 18 at 43 %.

16

ICHITAN Sales by Brand / International

Q1/2019 Q1/2020

41.5%

24.3% 1.7%

32.4%

51.9%

19.4%

1.5%

27.1%

1,319.4 mill THB

1,285.4 mill THB

17

Numeric Distribution: TT

6 9

13 16

18 18 18 21

24 25 26 30 31

33 36 37 37 37

35 37 36 36 36 36

38

0

10

22

28

33 36 37 38 38 39

41 40 43

45 44 43 44 46 47 47 48

46 48 47 48

0

10

20

30

40

50

60

MA

R1

8

AP

R1

8

MA

Y18

JUN

18

JUL1

8

AU

G1

8

SEP

18

OC

T18

NO

V1

8

DEC

18

JAN

19

FEB

19

MA

R1

9

AP

R1

9

MA

Y19

JUN

19

JUL1

9

AU

G1

9

SEP

19

OC

T19

NO

V1

9

DEC

19

JAN

20

FEB

20

MA

R2

0

Numberic Distribution Open Trade

280 Ml Ichitan Honey Lemon 350 Ml Main Competitor Honey Lemon

13 13 15

13 14 14 16 15 15

17 16 15

21

25 26

22 24 23

21 23 22 21

24 21

26

13 13 12 12 12 12

14 12

14 14 12

15 15 17 16 15 14

13 14 13

15 15 13

15

-

5

10

15

20

25

30

MA

R1

8

AP

R1

8

MA

Y18

JUN

18

JUL1

8

AU

G1

8

SEP

18

OC

T18

NO

V1

8

DEC

18

JAN

19

FEB

19

MA

R1

9

AP

R1

9

MA

Y19

JUN

19

JUL1

9

AU

G1

9

SEP

19

OC

T19

NO

V1

9

DEC

19

JAN

20

FEB

20

MA

R2

0Volume per Outlet (Unit)

280 Ml Ichitan Honey Lemon 350 Ml Main Competitor Honey Lemon

35 36 38 38 39 39 39 40 40 40

42 44 45 45 46 47

45 43 43 43

45 45 46 44 43

29

37

41 42 45 45 45 44 44

42 43 44 44 43 44 43 44 42 42 42 41

38 38 39

35

0

5

10

15

20

25

30

35

40

45

50

MA

R1

8

AP

R1

8

MA

Y18

JUN

18

JUL1

8

AU

G1

8

SEP

18

OC

T18

NO

V1

8

DEC

18

JAN

19

FEB

19

MA

R1

9

AP

R1

9

MA

Y19

JUN

19

JUL1

9

AU

G1

9

SEP

19

OC

T19

NO

V1

9

DEC

19

JAN

20

FEB

20

MA

R2

0

Numberic Distribution Open Trade

315 Ml Yen Yen 350 Ml Main Competitor Herbal

21 22 24

22 22 19 20

23 21 22

18 17

21 23 24

21 22 20

18 19

18 18 16 16

18 19 21 21

19 18 18 17 17 17 17 15

13

17 16 20

17 16 16 14

16 14 14 14

12 15

-

5

10

15

20

25

30

MA

R1

8

AP

R1

8

MA

Y18

JUN

18

JUL1

8

AU

G1

8

SEP

18

OC

T18

NO

V1

8

DEC

18

JAN

19

FEB

19

MA

R1

9

AP

R1

9

MA

Y19

JUN

19

JUL1

9

AU

G1

9

SEP

19

OC

T19

NO

V1

9

DEC

19

JAN

20

FEB

20

MA

R2

0

Volume per Outlet (Unit)

315 Ml Yen Yen 350 Ml Main Competitor Herbal 18

43.0%

29.9%

Distribution Channel : Q1/2020

1) Modern Trade

2) Traditional Trade

o Main International Market: Cambodia , Lao PDR, Myanmar, Vietnam,etcs Take note: % from total sales of beverage

72.9%

27.1%

Domestic

International

Domestic Growth

YoY +5.0%

Proportion of Distribution Channel

62.2%

3.9% 6.8%

DKSH SINGH IGT

Domestic

19

Strategy in FY 2020

20

FY 2020 : Expanding Portfolio to Stimulate Sales

GREEN TEA SEGMENT

ICHITAN Green Tea Berry Lemon Size: 280 ml Price: 10 THB/Bottle

Launch : Jan Channel : TT

ICHITAN Green Tea Kyoho Grape Size: 280 ml Price: 10 THB/Bottle

Launch : Feb Channel : TT 21

FY 2020 : Expanding Portfolio to Stimulate Sales

GREEN TEA SEGMENT

ICHITAN Green Tea Honey Lemon Icy Mint Size: 420 ml Price: 20 THB/Bottle

Launch : Mar Channel : Nationwide

22

FY 2020 : Expanding Portfolio to Stimulate Sales

GREEN TEA SEGMENT

Shizuoka Tencha Matcha Honey Size: 440 ml Price: 30 THB/Bottle

Launch : Apr Channel : 7 Eleven

Shizuoka Gyokuro No Sugar Size: 440 ml Price: 30 THB/Bottle

Launch : Apr Channel : Nationwide

23

HERBAL SEGMENT : รอนรอน เผดเผด สดวย “เยนเยน”

Yen Yen Sala and Red Date Size: 315 ml Price: 10 THB/Bottle

Launch : Jan Channel : TT

Yen Yen Sala and Red Date Size: 400 ml Price: 15 THB/Bottle

Launch : Feb Channel : Nationwide

FY 2020 : Expanding Portfolio to Stimulate Sales

24

HERBAL SEGMENT : รอนรอน เผดเผด สดวย “เยนเยน”

Yen Yen Super Cooling Size: 400 ml Price: 15 THB/Bottle

Launch : Mar Channel : Nationwide

FY 2020 : Expanding Portfolio to Stimulate Sales

25

ICHITAN x FreeFire

The Return Of

ICHITAN x FREEFIRE

“อชตน รหสลา คาเพลลา ลนซงมอเตอรไซด FREE FIRE” 10 APR - 24 JUN , 2020

FY 2020 :Collaboration with Strategic Partners

26

Contents

Overview & Financial Information CORPORATE OVERVIEW & FINANCIAL HIGHLIGHT

BUSINESS INFORMATION

ICHITAN STRATEGY : 3N

(NEW Product/Market/Business)

INDONESIA

27

รหรอไม น าทด ทเราดมควรจะมลกษณะอยางไร?

28

New Product : New Category

Product : Ph+ 8.5 เครองดมน าอลคาไลน ผสมวตามนบรวม Channel : Nationwide Price : 20 THB / Bottle Size : 550 ml. Launch : Jun, 2020

29

น าอลคาไลน ผสมวตามนบรวม ตรา PH+ 8.5

คนความสมดล และ เสรมสรางภมคมกน ใหรางกาย แขงแรง พรอมสโรค

30

เคร องดมทเสรมสรางภมคมกนส าหรบชวงน Online Shopping Channel :

https://www.facebook.com/phplusdrink

New Product : New Category

31

New Market : CLMV Economic situation

Decreasing of

Export

Supply Chain Disruption

Decreasing

of Tourist Sector

Slowdown of

Foreign Direct Investment

(FDI)

Decline of Private Sector

Demand

Higher Unemployment

Rate CLMV Economic in year 2020, there is potential to growth but some factors need to be concerned.

32

Cambodia • EU will withdraw part of tariff preferences to

Cambodia under EBA. • Cambodia's economy may slow down to 2.5 %

due to COVID-19 pandemic.

Myanmar • Myanmar remains a country in transition and

a perceived deterioration in the political situation could lead to decrease in the amount of foreign direct investment,

hindering growth.

Laos • Laos's economy may slow down due to COVID-19 pandemic and FDI. • Major export market and source of investment, have to depend on China.

Vietnam • Covid-19 pandemic has highly impact on

Vietnam as main source of income come from tourism and retail industry.

• GDP in Q1/ 2020 slowed down to 3.82% (YoY).

New Market : Export, Economic Outlook Q1/2020

33

New Market : Export, High light Q1/2020

Eventhough the EU withdraw part of tariff preferences to Cambodia under EBA* and negative impact on COVID-19, it caused minimum negative effects on our sales.

We also could maintain market coverage and market share in major countries.

We succeed on potential market and ready to export in Q3/2020.

Remark: EBA* : Everything But Arms that is an initiative of the European Union under which all imports to the EU from the Least Developed Countries are duty-free and quota-free, with the exception of armaments.

CLMV is still the strategic area with major potential market .

34

New Market : Export, Highlight Year 2020

Introduce pH Plus Water to Cambodia market

35

New Market : OEM

COCOBURI Target Market & Distribution Channel

Domestic : Convenience Store and Modern Trade Price : 25 Baht / Bottle Size : 350 ml. Launch Period : February 2020

Now available at

36

COCOBURI Target Market & Distribution Channel

Export : China Market Price : 10 RMB / bottle Size : 350 ml. Launch Period : March, 2020

New Market in Q2 - Vietnam - Korea

New Market : OEM

37

New Market : OEM

BING-ZU

Target Market & Distribution Channel

Product : Green Tea Honey Lemon Green Tea Original Export : China Market Price : 6.50 RMB / Bottle Size : 420 ml. Launching : March 2020

38

New Business

39

“ของทานเลนทลกรก แมเลอก”

รสหวาน + DHA 20g.

(Original)

รสตนต ารบ 10g.

(Original)

รสชอกโกแลต 10g.

(Chocolate)

สนคาพรเมยม จากวตถดบน าเขา

พรอมแตกตางดวย DHA ไมผสมครมเทยม

15 บาท

จ าหนายในชองทาง: 7-Eleven

พรอมจ าหนาย: กรกฎาคม 2020

สนคาพรเมยม จากวตถดบน าเขา ไมผสมครมเทยม

10 บาท

จ าหนายในชองทาง: TT และ Makro

พรอมจ าหนาย: เมษายน ในชองทาง TT

พฤษภาคม ในชองทาง Makro

New Business : Milk Tablets “ One Morr”

40

Online Shopping Channel :

onemorrofficial

New Business : One Morr

41

42

ACTIVV COOL 12G BKK COOL 12G PLAY COOL 12G

เยน สดชน หอม เพลน เยน สดชน ซซา เยน สดชน ตนมชวตชวา

ราคา 10 บาท

จ าหนายในชองทาง 7-Eleven TT และ Makro

พรอมจ าหนาย: กรกฎาคม 2020

New Business : Yen Yen Cool

43

42

Contents

Overview & Financial Information CORPORATE OVERVIEW & FINANCIAL HIGHLIGHT

BUSINESS INFORMATION

ICHITAN STRATEGY : 3N

(NEW Product/Market/Business)

INDONESIA

43

SALES Total Growth SALES GROWTH BY CHANNEL

SALES GROWTH BY SKU

21%

8%

83% • Total sales is projected to increase by 21%

• GT is very potential and projected to

increase by 37%

• Even though the performance of TMT is

stable, with new products we are able to increase the total sales volume

ICHITAN INDONESIA

44

NPD

MASS

INNOVATIVE

ON TREND

Product that is more

acceptable and

reachable for the mass Indonesian consumers

Product that continue

to be the pioneer in Indonesian RTD market

Product that always

relevant with the latest trend

45

NEW Channel

*Philippines : Our partner Alfamart has >1000 stores

• GT (TT) Positioning is growing toward 2019,

as expand coverage cities from 31 cities to

68 cities and our core products are

accepted by TT market

2018 2019 2020

City Coverage

25 Cities 31 Cities 68 Cities

Country Coverage

Indonesia Indonesia

Indonesia

Malaysia

Philippines

Brunei

46

ATL & BTL 2020

ATL

Heavy TV Ads on top national

TV Station in the high rating

program

Heavy Digital Ads on all social media platform

BTL Sampling, branding and

local events covering 68 cities

IN STORE

Heavy display and POSM

in modern trade, also in local MTI and OMT

47

ITI SALES PERFORMANCE Q1 / 2020

591,968 766,136 801,887

922,627

101,227

146,161

265,100

369,173

-

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

Target Q1-19 Q1 2019 Target Q1-20 Q1 20202

Sales By Channel

MT GT

464,392

641,210 695,875 689,819

-

102,522

351,782

63,417

187,194

212,287

223,925

-

50,478

27,415

58,061

20,604

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

Target Q1-19

Q1 2019 Target Q1-20

Q1 2020

Sales By SKU

TMT TGT TMC TMG TT

• Sales is increase 42% compare to Q1-19.

• GT market 2020 is growth around 153% & MT market growth 20% compare to Q1-19.

• New product Ichitan Thai Green Tea (TGT) contributed to increasing sales by 27%. • Existing products such as TMT also increased by 8% compared to the same period last year.

53% Con

912,297

1,291,800

912,297

1,291,800

693,195

1,066,987

693,195

1,066,987

42%

27 % Con

13 % Con

48

• Promo for Indonesian

consumers through

National Key

Account

• Ramadhan themed

Store display

competition

• To stay in touch and

reach consumers

from 68 cities in

Indonesia

• CSR Activities to

support people in

Indonesia

• E-Commerce • Marketplace

• INSTAGRAM &

YOUTUBE contents

• KOL boosting

MARKETING

ACTIVITY

OPEN

NEW

CHANNEL

DIGITAL ACTIVITY

HOME DELIVERY SERVICE

PR

IN STORE ACTIVITY &

PROMO

IN STORE ACTIVITY

BRAND STRATEGY DURING PANDEMIC

49

BRAND STRATEGY DURING PANDEMIC

RAMADHAN DISPLAY COMPETITION

CSR ACTIVITY E-COMMERCE ACTIVATION

HOME DELIVERY

50

THAI SIGNATURE on TVC Indonesia

51

HIGHLIGHT, QUARTER 1/2020

BRAND AWARENESS INCREASE

ACTIVE CITY COVERAGE INCREASE

MARKET SHARE INCREASE

MARKET COVERAGE EXTENSION

72% (avg 2019) → 77% (Q1 2020)

53 Cities (2019) → 55 Cities (2020)

Reach Top 2 Market Share in National Key Account

Export to Philippines and Malaysian Market

52

Q & A

Contact: website : www.ichitangroup.com Email: ir@ichitangroup.com FB: https://www.facebook.com/ir.ichitan