FROM NATURE TO YOU

H1 2016 results14 September 2016, Paris

AGENDA

A good 2016 first half,One step closer to Bright2020

Care – Execute – GrowDiscipline in execution

Advancing towards a sustainable andprofitable business model

Analysis of H1 2016 results

— Financial position: Maintaining a rigorous and disciplined approach while preparing for future growth

— Operating profitability: The strategy of aligning industrial capacities, building a higher value-added product mix and optimising the cost structure has produced results

2016 outlook

A good 2016 first half,One step closer to Bright2020

Financial Highlights

4

Revenue

+5.3%(constant exchange rates and like-for-like )

€208.0mNet income

Inventory-to-sales ratio

X 4

* Recurring operating EBITDA: Recurring EBITDA restated for inventory having reached the end of its product lifecycle (obsolete inventory)

54 days

Days Sales Outstanding

44%

EBITDA margin*

16.0%

€12.2m

Care – Execute – GrowDiscipline in execution, on track with the 2016 action plan

CAREA reinforced culture based on a common objective

6

A new Group momentum

Closeto

Communities

Alignmentof interests Team cohesion

2016 objectives

Sharing a common culture Alignment of interests

Next step

Nurturing our talents for growth

SafetyPrevention campaigns

Developingtalent

EXECUTERigour and discipline as the main drivers of operational excellence

7

GLOBAL MANAGEMENTOF INVENTORY (RM and FG)

2016 objectives

Simplifying flows

Industrial rationalisation

Pricing / Indirect procurement

Next step

OUR 3 LEVELSOF SERVICE

PURCHASING SALES

PRODUCTION SUPPLY CHAIN

4 1CUSTOMER

SERVICE

INVENTORY MANAGEMENT

3 2

Reducing SKUs

Sales forecasts

CRM tool

Demand planning

Categorisation

Dispatching

LT/MT planning

Capacities

Management of flows

Traceability

Seasonality

Risk management

Management Reliability Responsiveness Efficiency

Catalogue+

Category A

References

Finished goods

Category B Category C

Raw materialsPlanning RM

purchases and production

DELIVERY TIMES

Accelerating simplification Reducing complexity

GROWAdded value and innovation as keys to differentiation

8

2016 objectivesAccelerate innovation

Next step

Ramping up the shift fromsynthetic to natural

OUR EXPERTISEAS THE KEY DRIVER

TARGETED CAMPAIGNSAND BRAND STRATEGY

FRONTLINE

INNOVATION

Accelerate Go-to-Market

Alignment of industrial capacities

Key Categories

Ingredients, solutions, concepts, processes

Advancing towards a sustainable and profitable business model

10

202,6

95,8 104,4

101,6103,6

H1 2015 H1 2015 restated (excl.krill)

H1 2016

Q1 Q2

208.0197.5

+4.4%

Organic growth by quarter

Growth at constant exchange rates and like-for-like (excluding acquisitions, disposals or discontinued operations, businesses…)

+6.3%

+5.3%Organic growth*

- 1,577Reduction in SKUs

Increasing added valuein the product mix

H1 2016 revenueA base for sound organic growth

► Revenue trends(€m)

MY NATURAL FOOD MY NATURAL SELFCARE

11

34.2%51.8%

Breakdown of revenue

By business(% of revenue

H1 2016)

Growth by the two strategic platformsIncreasing value in the product mix and reducing the number of references

€107.9m in revenue% H1 2016 vs. H1 2015

Current

+4.9%

14.0%

€71.1m in revenue% H1 2016 vs. H1 2015

Current

+9.6%

Constant

+9.1%

OTHER ACTIVITIES

€29.1m in revenue% H1 2016 vs. H1 2015

Current

-16.8%

Constant excl. krill

-1.4%

Constant

+4.9%

€77.8m in revenue% H1 2016 vs. H1 2015

12

Strong growth in the emerging countriesVolatility in Europe and North America - Nutra under pressure

LATIN AMERICA ASIA - PACIFIC

12.2%6.7%

Breakdown of revenue

By region

(% of revenueH1 2016)

€14.0m in revenue% H1 2016 vs. H1 2015

Current

+32.3%

Constant

+32.0%

37.4%

€25.3m in revenue% H1 2016 vs. H1 2015

Current

+17.6%

Constant

€90.9m in revenue% H1 2016 vs. H1 2015

+20.0%

NORTH AMERICA EMEA

-1.3%

+6.3%

Constantexcl. krill

Current

-0.9%

Constant

-1.9%

43.7%

Current

Analysis of H1 2016 results

Financial PositionMaintaining a rigorous and disciplined approach while preparing for future growth

Cash flow

Tax payments

Change in WCR

Net cash flow from operating activities

Net cash used in investing activities

Net cash provided by financing activities

Net cash provided by (used in) discontinued operations

Net change in cash and cash equivalents

IFRS(€m)

H1 2016

32.6

(4.9)

(32.9)

(5.3)

(7.3)

(12.3)

(5.0)

(29.9)

24.8

(2.8)

22.9

44.9

(11.8)

(11.6)

(2.0)

19.5

A cash flow statement reflecting botha disciplined allocation of resources and preparation for future growth

H1 2015Restated*

15

Free cash flow from operations (12.6) 33.1

* Impacts of IFRS 5 on discontinued operations

Working Capital Requirementin line with simplification and optimisation efforts

16

46%of sales

39%of sales

169.8156.0

186.1

30.06.2015 31.12.2015 30.06.2016

46%of sales

54 daysvs. 55 days at 31/12/2015

Increase in trade receivables reflecting peaks in activity

Continuing to actively manage customer credit risk

► Impact WCR: -€9.5m

Increase in inventories according to the categorisation and catalogue

Impact of slowdownin Nutra US sales

► Impact WCR: -€17.5m

Management measures and procedures in place

Positive effects on supplier relations and ratings by credit insurance

► Impact WCR: -€6.0m

DSO

54 daysvs. 55 days at 31/12/2015

INVENTORIES

44% of salesvs. 41% at 31/12/2015

DPO*

A significant

improvementIn supplier payment terms

► Change in WCR€m

► Proactive management of WCR

* Days payables outstanding

Contained and pragmatic investmentsin line with the 2016 execution plan

17

► Change in CAPEX in €m ► Categories of industrial expenditures

8,1 6,9

3,8

12,5

10,0**

2015 2016

4.0%* of sales

H1

H2

3.3%of sales

EfficiencyOptimisationMaintenanceProductivity

67.0%

HealthSafetyQualityEnvironment

16.5%

ExtensionGrowth

16.5%

Acquisition of stake in SCI La Pinède

Land and building up Reyssouze in H1 2015

*Excluding the Reyssouze land and building for €3.8m

** Acquisition SCI La Pinède shares, increasing its stake in the entire real estate complex of NATUREX S.A, valued at €10.0 million; the finance lease liability at 1 January 2016 was €7.7 million.

Divestiture of interests in the JV with AKERRecoverability in three years

18

Announcement of thedivestiture ofNATUREX's entire stakein the JV with AKERBioMarine specialised inkrill extraction

29 March 2016

Actual disposal dateof the shares in the JV.AKER BioMarine has fullownership of the productionsite based in Houston(Texas, USA)

2 May 2016 30 June 2016 2019

Impacts in the H1 2016consolidated financial statements

* The vendor loan is guaranteed by collateral granted by the parent company of AKER in the form of a pledge of shares in the JV

Naturex continues to guarantee the tax credits resulting from the US Federal NMTC (New Market Tax Credit); in the event of a third-party notice to enforce the guarantee, Aker undertakes to reimburse Naturex; in exchange the JV shares are pledged as collateral.

► Full reimbursementby AKER BioMarine of thevendor loan*

— US$4.6 million payable in quarterly instalments until May 2019;

— US$8.9 million payable on maturity.

Income statement: Nil

Balance sheet: -€11.9min financial assets (3-year interest-bearing vendor loan)

Cash flow: (€5.0m)in cash flows linked to discontinued operations (cash advances, JV loans for the reimbursement of debts)

Financial debt is primarily impactedby the decrease in cash

19

► Change in net financial debt(€m)

Debt-to-EBITDA leverage ratio

2.69 xvs. 2.53 at 31/12/2015

Net Financial Debt / recurring EBITDA over a rolling 12-month period

* The other changes take into account changes in debt linked to non-controlling interests, dividends paid to minority shareholders of Chile Botanics, new leases (excluding SCI La Pinède) and OCEANE bond interest.

130,1

158,1

29,9

+ 7,7

- 8,7+ 0,6

- 1,5

Dette financièrenette

31/12/2015

Diminution de latrésorerie nette

Crédit Bail SCILa Pinède

Remboursementd'emprunts,

leasing et autresdettes

financières

Autresvariations*

Ecarts dechange

Dette financièrenette

30/06/2016

Gearing43.1%

vs. 35.4% at 31/12/2015Net financial debt / Equity

Bank covenantsare respected

Operating profitabilityThe strategy of aligning industrial capacities, building a higher value-added product mix and optimising the cost structure has produced results

21

H1 2016 income statementMeasuring the actual results of our actions

Revenue

Margin on COGS

Gross margin on COGS (%)

Current operating income

Current operating margin (%)

Recurring operating EBITDA

IFRS(€m)

H1 2016 Change (%)

208.0

57.8

27.8%

18.6

8.9%

33.2

202.6

47.5

23.5%

12.6

6.2%

26.3

+ 2.7%

Recurring operating EBITDA margin (%) 16.0% 13.0%

+ 21.6%

+ 47.0%

+ 26.3%

H1 2015Restated*

Net operating income

Operating margin (%)

19.1

9.2%

10.9

5.4%

+ 74.6%

* Impacts of IFRS 5 on discontinued operations

The significant rise in the gross margin on COGSin line with the Bright2020 strategy on industrial efficiency

22

23.8%

► Change in gross margin on COGS(€m)

47,5

57,8

30.06.2015 30.06.2016

23.5%Gross Margin

on COGS/Sales

+4.3 ptsGross Margin /

COGS

27.8%Gross Margin

on COGS/Sales

Improvement in industrial performance— Higher production levels

vs. inventory reduction measures and the voluntary slowdown of production in H1 2015

— A better use of industrial capacities within the Group

Increasing value added in the product mix— Moving to a higher value-added

portfoliobased on key product categories (Bright2020) and in particular with strong contributions from products providing clinically substantiated benefits in the phytoactives category.

— Reducing the number of referencesleading to the decrease in contributions of non-strategic lower-margin products/businesses

+ 21.6%

The presentation of expenses by function makes it easierto monitor progress in the 2016 implementation plan

23

► Breakdown of expenses by function(€m)

6,1

12,6

16,2

6,2

13,6

17,4

5,9

15,2

18,4

Recherche et Développement Marketing et Commercial Général et Administratif

Science and Innovation

Sequencing projectsand staff reassignment

Commercial and front line organisation

Go-to-Market Execution and Simplification

Integration of Indirect Procurementand Management positions

H1 2015 reported basis

H1 2015with 2016 allocation keys

H1 2016

3.0%of sales

2.8%of sales

3.0%of sales

6.2%of sales

7.3%of sales

6.7%of sales

8.0%of sales

8.8%of sales

8.6%of sales

* Review of allocation keys in 2016 (R&D, Marketing and Sales, General & Administrative)

24

First visible effects from the operational driversand cost structure optimisation measures

26,333,2

30.06.2015 30.06.2016

13.0%% EBITDA

+3.0 pts 16.0%% EBITDA

+ 26.3%

Recurring operating EBITDA (€m)

30/06/2016: After taking into account the reversal of impairment charges of €1.3 million for the Palafolls industrial site in light of negotiations for its sale in progress .

10,919,1

30.06.2015 30.06.2016

5.4%% NOI

+3.8 pts 9.2%% NOI

+ 74.6%

Net operating incomeIn €m

25

The increase in the net marginconfirming a more balanced model

2,9

12,2

30.06.2015 30.06.2016

1.4%% NI

+4.5 pts 5.9%% NI

Net income(€m)

X 4

Basic net earnings per share (Basic EPS)(€)

0,3146

1,3209

0.5031 €Basic EPS

1.3209 €Basic EPS

X 3

30/06/2015 30/06/2016

30/06/2015: Basic earnings per share from continuing operations30/06/2015: Including the net loss from discontinued operations of €1.7 million

2016 outlook

27

► WCR direction/Inventory reduction► Confident in the outlook for achieving a recurring

operating margin in line with analyst consensusfor 2016

Seizing growth opportunities

Focus on innovation

Vitality of emerging countries

Performances by speciality F&V and colours

Points to watch— Nutra US: resumption in activity— Europe: reduction in SKUs

Continuing to simplify our business model

Continuing to reduce the number of references

Reducing inventory levels

Accelerating simplification— Indirect procurement— Pricing and distribution— Management of flows— Industrial efficiency

2016 outlookConfirming profitability and maintaining a sound financial position

Difficult global macroeconomic environment

Foreign exchange volatility

Regulatory constraints weakening important markets for the Group

— DNA and pesticide tests— China: e-commerce distribution

network

Effectively navigating market conditions

Thank you for your attention

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