Αθήνα,

“Creating wellness, producing value”

10 OCTOBER 2019

This presentation has been prepared by Papoutsanis S.A. solely for informational purposes and cannot be used for any other purpose nor can it be addressed to any other person. The information included herein is confidential and cannot, therefore, be published, copied or dispatched.

This presentation is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any investment. No part of this presentation may be construed as constituting investment advice or a recommendation to enter into any transaction. No representation or warranty is given with respect to the accuracy or completeness of the information included in this presentation, and no claim is made that any future offer to transact on any relevant securities will conform to any terms that may be contained herein. Before entering into any transaction, investors should, therefore, determine any economic risks and benefits, as well as any legal, tax and accounting consequences of doing so, as well as their ability to assume such risks, without reliance on the information contained in this presentation.

PROJECTIONS – ESTIMATES – FORWARD LOOKING STATEMENTS

The presentation includes both information based on historical financial data as well as estimates, projections and other forward looking statements.

Any projections or other estimates in this presentation, including estimates on the performance of the company, our prospects, the result of our objectives and strategies, or the results of our operations and business, are forward looking statements based upon certain assumptions that in the future may be proven in fact wrong or inaccurate. These assumptions may be influenced by factors within or beyond our control, and actual results may materially differ from any estimates and projections included herein.

We do not intend to amend or update this presentation in case such estimates, projections or forward looking statements do not materialise or change in the future.

Disclaimer

1

Extroversion:

Growing international presence. 3rd largest European soap producer.

Local Production:

Great production capacity, with ability to increase further, technological excellence and export activity

Products:

A large portfolio of consumer and retail, exclusive, hotel and private label products

Sustainability:

Commitment to sustainable growth and conscious operation. Focusing on production of natural products using sustainable raw materials

Domestic market:

A historic brand with a leading position in B2C and B2B market segments

Partnerships:

Long-lasting co-operations with multinational leading players in all segments.

4 Business Segments:

Own brands, hotel amenities, contract manufacturing, specialty soap noodles. Less risk exposure.

3

History

4

Capital Expenditure | Production Facilities

• New plant investment: 35mil Euros (2000-2018)

• CAPEX in 2019 – 2020: ca. 3,5 mil Euros

5

• Production Lines

– Production of various bar soap types

– Continuous and batch saponification units

– Liquid Cosmetics production

– Filling lines

– PET, PE Bottles & PP Closing Cups Production

• Extended over a 60,000m2 land in Halkida, just 70 km north of Athens

• One of the largest and most modern soap manufacturing facilities in Europe

• Over 100.000.000 units per year | 45% Spare capacity

Strive for Quality & Innovation R&D and Quality Assurance

• Fully equipped and manned in-house

R&D laboratory

• 100-150 own innovative formulas/year

• Excellent know-how in developing solid

and liquid soap formulations

• Meets high standards of multinational

FMCG Companies and Retailers

Fully certified with respect to quality, sustainability and social responsibility:

6

ECO FRIENDLY

100 % Recyclable Packaging

Post Consumer Recycled Bottles - Boosting Circular Economy

CLEAN FORMULA

Biodegradable

Natural Ingredients

RSPO Certified Soap Mass

Vegan Certification

Cruelty free

Cosmos Certified Formulas

SUSTAINABILITY

Responsible Packaging

&

Global Presence Exports in more than 25 countries

8

Countries: UK, Germany, Italy, France, Spain, Portugal, Romania, Fyrom, Servia, Bulgarian, The Netherlands, New Zealand, Mexico, Lithuania, Slovakia, Albania, Belgium, Cyprus, Austria, Sweden, USA, Canada, Russia, Japan, Hong Kong, Australia etc.

7% 1%

OtherGreece Europe USA

53% 39%

Own Brands - Retail

9

• Strong Brand heritage with 148 years of presence in Greece

• 100% presence in organized trade

• 3.500 point of Sales

• 50.000 placements in Greece

• Strong BTL activity

• Innovative product launches every year and strong 3 year NPD pipeline

• 360ο Marketing Support

Own Brands - Retail

10

Own Brands – Selective Market & Pharmacies

11

OLIVIA - Beauty & The Olive Tree When tradition meets modern technology ... the result bears the name Olivia:

A line of natural products for body and hair care blessed with beneficial properties of Organic Olive Oil & Organic Olive Extracts. Olivia combines: 1. the deep knowledge of Papoutsanis on personal care products and olive tree beauty benefits with

2. the scientific R&D knowhow on olive extracts of the University of Athens (Dpt. of Pharmacognosy and Chemistry of Natural Products)

Key figures 2012 – 2018 in ‘000 Euro

12

2.665

3.538 3.939 4.029

4.975

5.830

6.709

0,0

5,0

10,0

15,0

20,0

25,0

30,0

1.500

2.500

3.500

4.500

5.500

6.500

7.500

2012 2013 2014 2015 2016 2017 2018

Gross Profit & Gross Profit margin

Gross Profit Gross Profit margin

15.231 16.031

17.170

15.614

18.032

20.775

24.241

14.000

17.000

20.000

23.000

26.000

2012 2013 2014 2015 2016 2017 2018

Sales

-1,0

0,0

1,0

2,0

3,0

4,0

5,0

-200

0

200

400

600

800

1.000

1.200

2012 2013 2014 2015 2016 2017 2018

EBT & EBT Margin

EBT EBT margin

1.871

2.069 2.157

1.907

2.230 2.303

2.868

0,0

2,0

4,0

6,0

8,0

10,0

12,0

14,0

1.500

1.700

1.900

2.100

2.300

2.500

2.700

2.900

3.100

2012 2013 2014 2015 2016 2017 2018

EBITDA & EBITDA Margin

EBITDA (EBIT plus Depreciation) EBITDA margin

Key figures First Half 2017 – 2019 in ‘000 Euro

13

10.004

11.981

14.350

5.000

8.000

11.000

14.000

H1 2017 H1 2018 H12019

Sales

2.818

3.341

4.138

15,0

17,0

19,0

21,0

23,0

25,0

27,0

29,0

31,0

1.500

2.000

2.500

3.000

3.500

4.000

4.500

H1 2017 H1 2018 H12019

Gross Profit & Gross Profit margin

Gross Profit Gross Profit margin

1.034

1.332

1.707

8,0

8,5

9,0

9,5

10,0

10,5

11,0

11,5

12,0

12,5

500

700

900

1.100

1.300

1.500

1.700

1.900

H1 2017 H1 2018 H12019

EBITDA & EBITDA Margin

EBITDA EBITDA margin

253

521

792

1,01,52,02,53,03,54,04,55,05,56,0

0

200

400

600

800

1.000

1.200

H1 2017 H1 2018 H12019

EBT & EBT Margin

EBT EBT margin

Corporate Social Responsibility

14

• Commitment to communities and society as a whole through the long standing

support to organizations, institutions and socially vulnerable groups.

• Adopt Health & Safety measures for our employees and provide ongoing training on

environmental management

• Responsible business operation in order to minimize the environmental and energy

footprint in the production facilities ( i.e. Use of natural gas, re-circulation of solid

residues, use of up-to-date technology)

• Transparency and open dialogue with stakeholders regarding environmental issues

(i.e. Member of the Roundtable on Sustainable Palm Oil Association)

15

PAPOUTSANIS SA 71st Km of National Road Athens – Lamias

34 100 Chalkida, Greece T.: +30 22620 86430

email: info@papoutsanis.gr - www.papoutsanis.gr

Thank you!