CORPORATE

PRESENTATION

DISCLAIMERThis presentation has been prepared by Grupo KUO, S.A. de C..V. (“Kuo” or the “Company”) and has not been independently verified.

The securities referred to herein are only being offered to “qualified institutional buyers” under Rule 144A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and non-U.S. persons in offshore transactions under

Regulation S of the Securities Act. Other persons should not act upon this presentation or any of its contents. The securities referred to herein are being offered solely pursuant to the Company’s confidential preliminary offering

circular, dated June 20, 2017 (the “Offering Circular”), which should be read in its entirety. This presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction where such offer or

sale is not permitted.

You agree to keep the contents of this presentation strictly confidential. This presentation is highly confidential and contains proprietary and confidential information about KUO, its subsidiaries, its financial results and its

operations. This presentation’s material is being presented solely for your information and may not be copied, reproduced or redistributed to any other person in any manner. At the request of KUO the recipient will promptly return

all non-public material received from KUO (including this presentation) without retaining any copies thereof. No securities may be offered or sold in the United States absent registration or an exemption from registration under the

Securities Act. KUO does not intend to register any of its securities for offer or sale in the United States or elsewhere, or to conduct a public offering of securities in the United States or elsewhere.

This presentation includes forward-looking statements. These statements relate to KUO's future prospects, developments and business strategies and are identified by the use of terms and phrases such as “anticipate,” “believe,”

“could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will,” “goals,” “target,” “strategy” and similar terms and phrases, and may include references to assumptions. Forward-looking statements are based on

KUO's current expectations and assumptions regarding its business, the economy and other future conditions. KUO's actual results may differ materially from those contemplated by the forward-looking statements. Important

factors that could cause actual results to differ materially from those in the forward-looking statements include those mentioned in the company’s filings with the Mexican Authorities and/or Regulators as well as the Offering

Circular for the Company´s proposed offering of debt securities.

No representations or warranties, express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented or contained in this presentation. Neither the Company

nor any of its affiliates, advisers or representatives accept any responsibility whatsoever for any loss or damage arising from any information presented or contained in this presentation. The information presented or contained in

this presentation is current as of the date hereof and is subject to change without notice and its accuracy is not guaranteed. Neither the Company nor any of its affiliates, advisers or representatives make any undertaking to update

any such information subsequent to the date hereof. This presentation should not be construed as legal, tax, investment or other advice.

Certain data in this presentation was obtained from various external data sources, and the Company has not verified such data with independent sources. Accordingly, the Company makes no representations as to the accuracy or

completeness of that data, and such data involves risks and uncertainties and is subject to change based on various factors. The use of registered trademarks, commercial trademarks and logos or photographic materials within this

document are exclusively for illustrative purposes and are not meant to violate the rights of the creators and/or applicable intellectual property laws.

This presentation does not constitute an offer or invitation to purchase or subscribe for any debt securities or other securities of the Company and neither any part of this presentation nor any information or statement contained

herein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. Any decision to purchase securities in any offering of securities of the Company should be made solely on the basis of the

information contained in the Offering Circular which may be published or distributed in due course in connection with any offering of securities of the Company, if any.

By participating in this presentation, you agree to be bound by the foregoing limitations.

2

KUO AT A GLANCE

3

$42,576 Revenue

$5,398 EBITDA

12.7% EBITDA Margin

3.0x Net Debt / EBITDA

51% Exports

29 Manufacturing Plants

70 Countries coverage

+24,000 Employees

Belgium

SpainUS

Mexico

China

Colombia

MEX49%

US & CANADA28%

EUROPE11%

ASIA9%

OTHER3%

*JV 50% / 50% Note: LTM figures at 3Q19, expressed in millions of Mexican pesos in Combined Pro forma IFRS, considering the proportional consolidation method.

REVENUE DISTRIBUTIONGLOBAL FOOTPRINTLTM FIGURES

GROWTH PILLARS

• Positioning in the sectors in which we participate

• Innovation and development of proprietary technology

• Focus on value added products

• Sustainable development

VALUE

CREATION

REVENUE% of total

EBITDA% of total

55%

CONSUMER

PORK MEATBRANDED

FOOD*

33%

33%

CHEMICAL

SINTHETIC RUBBER*

POLYSTYRENE

18%

12%

AUTOMOTIVE

TRANSMISSIONS AFTERMARKET

49%

FINANCIAL HIGHLIGHTS LTM (MILLION PESOS)

4Note: Figures are expressed in millions of Mexican pesos in Combined Pro forma IFRS, considering the proportional consolidation method.

REVENUES EBITDA

41,310 42,576

3Q18 3Q19

+3.0%

51% EXPORTS

5,591 5,398

13.5% 12.7%

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

0

1,000

2,000

3,000

4,000

5,000

6,000

3Q18 3Q19

-3.5%

7,251

15,158

18,758

7,689

14,012

20,721 CONSUMER

CHEMICAL

AUTOMOTIVE

+10.5%3Q19

3Q18

3Q19

3Q18

3Q19

3Q18

-7.6%

+6.0%795

2,163

2,744

578

1,605

2,652-3.4%

-25.8%

-27.3%

12.8% MGN

11.5% MGN

7.5% MGN

3Q19

3Q18

3Q19

3Q18

3Q19

3Q18

FINANCIAL HIGHLIGHTS 3Q19 (MILLION PESOS)

5Note: Figures are expressed in millions of Mexican pesos in Combined Pro forma IFRS, considering the proportional consolidation method.

REVENUES EBITDA

10,817 10,845

3Q18 3Q19

+0.3%

53% EXPORTS

1,3841,410

12.8% 13.0%

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

1,100

1,150

1,200

1,250

1,300

1,350

1,400

1,450

3Q18 3Q19

+1.9%

1,774

4,189

4,824

2,194

3,285

5,319 CONSUMER

CHEMICAL

AUTOMOTIVE

+10.3%3Q19

3Q18

3Q19

3Q18

3Q19

3Q18

-21.6%

+23.6%165

553

723

171

405

731+1.1%

-26.6%

+3.6%

13.7% MGN

12.3% MGN

7.8% MGN

3Q19

3Q18

3Q19

3Q18

3Q19

3Q18

GROWTH PILLARSPORK MEAT

6

• Largest pork meat producer in Mexico

• Leading Mexican pork exporter to Japan, South Korea and the U.S.

• Demonstrated margin stability across cycles

• Best in-class sanitary standards in the industry

• Worldwide benchmark in production

• Revenue diversification through Maxicarne stores and exports

45

53

5626 92

129

59

27

4

3

2

2

5

DESCOMMODITIZATION

INTEGRATED BUSINESS MODEL

• Genetic Centers

• Pig Farms: 76,500 sows

• Feedstock Processing Facility: 725k tons

• Processing Plant: 2.1 million processed pigs in 2018

• Own Distribution Network: Exports, Maxicarne stores, routes and live pork

• +500 Maxicarne stores

• +13 million clients in 2018

• 57 new stores opened during 2018

GOING FORWARDDouble the installed

capacity + 4M processed per year Increase market share Technological innovation

and sustainability

$350M USDInvestment

GROWTH PILLARSPORK MEAT: 2016-2021 PLAN

7

2016

70,000 sows 1.5M processed per year393 Maxicarne stores

2020

120,000 sows 2.5M processed per year 650 Maxicarne stores + processing plant

+ balanced food plant

+ breeding center

+ new farms

GROWTH PILLARSTRANSMISSIONS

8

TRENDS

• Manual transmissions continue to lose share vs. DCT and other technologies

• Dynamic growth at 18.6% (2014-2020 CAGR)

STRATEGY

• Finish the investment project: + 50K DCT annually

• Develop high-tech projects for key clients: customized and flexible design engineering

• Integrate complex systems including mechatronics, controls and hydraulics

• Forward: faster migration to hybrid DCT technology

DCT

• 2 current agreements

• Improves performance and hybrid functionality

• Compact design and reduced weight

Source: HIS until 2025; AlixPartners 2025-2030

HIGH PERFORMANCE VEHICLES TRANSMISSIONS: TRENDS IN TECHNOLOGY

(EUROPE AND NORTH AMERICA)

GROWTH PILLARSCHEMICAL

9

POLYSTYRENE

• Focus on value-added applications

• Positioning consolidation in Mexico and the United States

• Reach 20% in value-added applications within the sales portfolio

SYNTHETIC RUBBER

8th Largest Synthetic Rubber Producer in the World

• Consolidate positioning as one of the leading players globally

• Increase market share in asphalt modifiers and adhesives in the United States and Europe

• Reach 20% in value-added applications within the sales portfolio

GROWTH PILLARS BRANDED FOOD

10

HERDEZ DEL FUERTE

• Strengthen the leadership position in Mexico and the United States

• Increased brand presence, mainly guacamole and sauces, to reach a market share of +40% in the United States

• Generate value through synergies

• Leading brands in their categories:

• Mexico: Tomato puree, sauces and mole

• United States: Guacamoles and sauces

• Highest growth sauces brand

LTM RESULTS

SECTOR

CONSUMER LTM (MILLION PESOS)

12

Note: Figures are expressed in millions of Mexican pesos in Combined Pro forma IFRS, considering the proportional consolidation method.

18

,75

8

20

,72

1

3Q18 3Q19

REVENUES

+10.5%

49%OF

CONSOLIDATED SALES

9.5%OPERATING

MARGIN

12.8%EBITDA

MARGIN

2,7

44

2,6

52

3Q18 3Q19

EBITDA

-3.4%

55%OF

CONSOLIDATED EBITDA

HIGHLIGHTS

• Pork Meat Business: Higher prices & volume

• Maxicarne stores: growth in sales and average ticket

• Exports: 36% of total sales (Japan, United States and China)

• African Swine Fever outbreak: hike in global pork meat prices

• Herdez del Fuerte: Higher volume

• Megamex: main categories

• Mexico: salsas and vegetables

• EBITDA:

• Pork Meat: Improved sales mix, operating efficiencies

• Herdez del Fuerte: increased avocado costs

• Ongoing CAPEX investment to expand installed capacity in Pork Meat business

13

15

,15

8

14

,01

2

3Q18 3Q19

CHEMICAL LTM (MILLION PESOS)

14

Note: Figures are expressed in millions of Mexican pesos in Combined Pro forma IFRS, considering the proportional consolidation method.

REVENUES

-7.6% 8.3%OPERATING

MARGIN

11.5%EBITDA

MARGIN

2,1

63

1,6

05

3Q18 3Q19

EBITDA

-25.8%

HIGHLIGHTS

• Revenue

• Lower raw material prices

• Lower volume

• EBITDA:

• Lower volume & prices

33%OF

CONSOLIDATED SALES

33%OF

CONSOLIDATED EBITDA

15

7,2

51

7,6

89

3Q18 3Q19

AUTOMOTIVE LTM (MILLION PESOS)

16

Note: Figures are expressed in millions of Mexican pesos in Combined Pro forma IFRS, considering the proportional consolidation method.

REVENUES

+6.0%

18%OF

CONSOLIDATED SALES

1.8%OPERATING

MARGIN

7.5%EBITDA

MARGIN

79

5

57

8

3Q18 3Q19

EBITDA

-27.3%

12%OF

CONSOLIDATED EBITDA

HIGHLIGHTS

• Revenue:

• Trasmissions: increased transmissions and components’ demand.

• Aftermarket: higher demand on brakes and engine parts.

• EBITDA:

• Less favorable sales mix

• Increased operating expenses

• Higher expenses related to the DCT launch

17

CAPEX 3Q19 (MILLION DOLLARS)

18

31.7 52.7 25.5 26.5 26.0

3Q18 4Q18 1Q19 2Q19 3Q19

73% GROWTH

MAINTENANCE27%

22% TRANSMISSIONS

36% OTHER 42%

PORK MEAT

BALANCED CAPITAL STRUCTURE

19

11,833 12,78413,940 14,372

15,431

2.13x 2.30x2.81x 2.78x 2.97x

0.0x

1.0x

2.0x

3.0x

4.0x

5.0x

0

5,000

10,000

15,000

20,000

3Q18 4Q18 1Q19 2Q19 3Q19

NET DEBT EVOLUTIONMXN

Calculated on US dollars, in compliance with credit

agreement obligations

78%

USD

CNY

5%17%

MXN

CURRENCY

49%

FIXED

51%

VARIABLE

RATE

93%

LONG

SHORT

7%

TERM RATIOS 3Q19

Net Debt / EBITDA 2.97x

Total Debt / EBITDA 3.47x

Interest Coverage 4.56x

DEBT PROFILE (APRIL)

USD

1648

24 27 25

298

350

445

2019 2020 2021 2022 2023 2024 2025 2026 2027

KUO B (MXN)

20As of October 08, 2019

KUOB$50.68+21.2%

L24M

Market Cap $ 23,129 million

Outstanding Shares 456.366 million

Book Value $29.2

Price/ Book Value 1.7x

EPS $5.1

P/E 9.9x

Dividend Yield 1.5%

IPC42,952.29

-14.6% L24M

Shares Series A Shares Series B

231,751 15,657,200

2015 2016 2017 2018

$0.35 $0.45 $0.61 $0.75Institution Recommendation Price target

GBM Outperformer $ 66.50

NAU Securities Buy $ 51.00

PAID DIVIDENDS

BUYBACK PROGRAM

ANALYST COVERAGE

10/2017 12/2017 02/2018 04/2018 06/2018 08/2018 10/2018 12/2018 02/2019 04/2019 06/2019 08/2019 10/2019

KUO B IPC

INVESTOR

RELATIONS

CONTACTAntonia Gutiérrez

ir@kuo.com.mxantonia.gutierrez@kuo.com.mx

+(52 55) 52.61.83.44

www.kuo.com.mx

AFRICAN SWINE FEVER - ASF

22

Sources: Rabobank,USDA, OIE World Organization for Animal Health. World Animal Health Information System (WAHIS).

• Viral disease, deadly to pigs. No approved vaccine.

• No risk to public health. Affected countries are closed to export.

• Main regions affected: Asia, mainly China, different countries in Europe and Africa.

• Global measures: strengthening of sanitary controls, mainly airports and seaports.

POTENTIAL IMPACT

• Shortfall in China production: estimated 25% - 30% of total in the short term.

• Rise in global pork prices: estimated 25% - 70% Chinese pork prices 2H19.

• Decrease in raw material prices: soybean.

• At least 2-3 years before global pork production normalizes.

• Global producers prepare for strong export demand: increased supply in proteinswon’t be enough to fill the gap of pork meat.

KEKEN MITIGATION MEASURES

• Reinforcement biosecurity measures (farms and regional).

• Quarantine of raw materials from China (feed mills).

• Active communication with local and federal authorities.

China48%

EU21%

NA14%

RoW19%

China33%

ASF losses14%

EU21%

NA14%

RoW18%

2018 PORK PRODUCTION

2019E PORK PRODUCTION

China

African Swine Fever losses

European Union

North America

Rest of the World

AFRICAN SWINE FEVER - ASF

23

Sources: Rabobank

China: Herd losses China: Increaesed in hog prices