Annual General Meeting 9 May 2013

AGM 2013 | Page 1

Financial highlights

Total revenue

EBITDA

EBITA

EBIT

Adjusted EPS

€850.0m

€29.6m

€23.2m

€20.3m

6.05c

+19.7%

+38.4%

+36.1%

+44.9%

+45.8%

2011 2012 % Change

Total dividend 1.925c +7.5%

€1,017.8m

€41.0m

€31.6m

€29.4m

8.82c

2.07c

Return on invested capital (ROIC) 13.3% +24.8% 16.6%

AGM 2013 | Page 2

Earnings growth 2008 - 2013

31.6

23.221.320.7

15.3

0

10

20

30

40

2008 2009 2010 2011 2012 2013

8.82

6.055.505.19

3.95

0

2

4

6

8

10

2008 2009 2010 2011 2012 2013

Target Range

Target Range

Target Range

Growth rate 2008 - 2012

Absolute CAGR

EBITDA 118% 21.5%

EBITA 107% 19.9%

EPS 123% 22.2%

EBITDA - €’M EPS - € cent

EBITA - €’M

41.0

29.626.925.7

18.9

0

10

20

30

40

50

2008 2009 2010 2011 2012 2013

Earnings have more than doubled since 2008

36.0-

42.0

7.5 –

9.2

27.0 -

33.0

AGM 2013 | Page 3

Summary cash flow

Strong cash generation – operating cash flows of €42.3m (14.2 cent per share).

Free cash flow after capex, tax and working capital of €18.4m. Yield of 10.7%.

Significant investment in working capital as a result of strong organic growth.

Expect further significant investment in 2013 including deferred consideration payments and other development expenditure.

€’M €’M

Operating cash Inflows

EBITDA 41.0

Impairment charges 3.3

Joint ventures operating profit (2.0)

42.3

Investment and other expenditure

Capex (incl leased assets) (9.2)

Deferred consideration (1.0)

Tax paid (2.5)

Pension deficit payments / MNOPF (3.0)

Dividends paid (5.9)

Working capital (12.1) (33.7)

Translation / other 1.2

Net cash generated 9.8

Opening net debt (1.2)

Closing net funds 8.6

AGM 2013 | Page 4

Balance sheet

Significant high quality asset base, including c.4,000

hectares owned in Central / South America.

Provisions include €11.3m deferred consideration

expected to be paid in 2013.

Increase in pension deficit due to reduction in bond

rates. Recovery plans in place.

Shareholders’ funds unchanged. €24.8m retained

profits offset by actuarial loss on pension schemes,

dividends and currency and hedging reserve

movements.

2012

€’M

2011

€’M

Intangible assets 22.2 22.4

Property, plant and equipment 69.6 75.4

Investment in joint ventures 37.1 36.9

Investment in Balmoral 0.1 0.1

Working capital / hedging 51.2 49.6

Current / deferred tax (12.5) (14.4)

Provisions (16.8) (16.0)

Pension deficit (net of DT) (23.0) (16.3)

Net cash/(debt) 8.6 (1.2)

136.5 136.5

Shareholders’ funds 135.7 135.8

Minority interests 0.8 0.7

136.5 136.5

AGM 2013 | Page 5

AGM 2013 | Page 6

Bananas | Global marketplace

Europe

280m cases

marketed

N. America

250m cases

marketed Asia

120m cases

marketed

Russia

c.60m cases

marketed

Middle East

c.60m cases

marketed Key Producers

Ecuador 250m

Philippines 150m+

Costa Rica 100m+

Colombia 90m+

Guatemala 75m

Key Distributors - Global

Fyffes 57m

Chiquita 120m

Fresh Del Monte 117m

Dole (post disposal) 110m

Key Distributors - Europe

Fyffes 42m

Chiquita 38m

Fresh Del Monte 23m

Dole 19m

AGM 2013 | Page 7

AGM 2013 | Page 8

Pineapples | Global marketplace

In excess of c.190 million 12kg cases marketed annually.

Europe - largest market with 75+ million cases annually.

North America – second largest market with 68 million cases annually.

Key distributors Cases ‘M

Fresh Del Monte 60

Dole 30

Fyffes 9

Chiquita 2

Key producers Cases ‘M

Costa Rica – 75% 144

Philippines – 10% 19

AGM 2013 | Page 9

AGM 2013 | Page 10

Melons | US market

US imports c.50m cases of melons from November to May.

Fyffes is No.1 in this category, importing c.15m cases.

Also now supplies domestically produced melons.

Volumes and sales have more than doubled since acquisition

in 2008.

Production capacity increased in Honduras and Guatemala

each year.

AGM 2013 | Page 11

Fyffes | Market position

#1 #4 280m 250m

#3 #3 75m 68m

- #1 - 50m

Europe USA Market size

(Cases)

Market size

(Cases)

Fyffes 42m 10m (JV)

Fyffes 7m 2m

Fyffes N/A 15m

AGM 2013 | Page 12

Increased focus on production

Farmed land in Central / South America

Land values appreciating in Central / South America

Owned

Leased (or JV)

Total

-

2006

Hectares

1,800

1,800

3,900

2013

Hectares

5,000

8,900

AGM 2013 | Page 13

Shareholder return

Dividends

€’M

Buybacks

€’M

Total

€’M

2007 5.3 1.7 7.0

2008 5.2 5.4 10.6

2009 5.7 - 5.7

2010 5.9 5.3 11.2

2011 5.9 12.7 18.6

2012 5.9 - 5.9

Total 33.9 25.1 59.0

May repurchase further shares.

2012 full year dividend of 2.07 cent is up 7.5%.

Compound annual growth in dividend per share 2008-2012 of 8.4%.

Dividend yield 3.0% based on 70 cent share price.

Capital returned to shareholders – post demerger

AGM 2013 | Page 14

Focus on efficient capital allocation

Uses of capital:

Progressive dividend policy

Opportunistic share buy-backs

Acquisitions at all points in the supply chain and organic growth /

working capital investment

AGM 2013 | Page 15

Summary

Strong performance in 2012 reaching €1 billion turnover and 46% increase in EPS.

Similar 2013 target EBITA range of €27m-€33m.

Strong balance sheet.

Low valuation multiples.

Focus on further development opportunities.

Annual General Meeting 9 May 2013