Osotspa Public Company Limited (OSP)

Opportunity Day
FY’2022 Financial Performance and Outlook
24 February 2023
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 1 Financial Performance
Agenda
for 2 Year 2022 in Review
Opportunity Day
FY’2022
3 Our 2023 Priorities
1 FINANCIAL PERFORMANCE
Key Financial Results

Q4’22 12M’22

Revenue from Sales ● Overall net sales growth at 1.9%, due

to short-term challenges from Energy
THB 6,432 THB 27,266 drink premiumization transition amidst
competitors’ price promotion
-7.5% YoY +4.1% QoQ +1.9% YoY

● QoQ recovery in both sales and profit

Net Profit
THB 337 THB 1,934 ● Strong balance sheet position ready
-60.4% YoY +38.0% QoQ -40.6% YoY for strategic investment in an inorganic
growth and the next s-curve
Net Interest-Bearing D/E
0.04x
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FY’22 Strong Market Leadership Across Categories
Initiated premiumization to drive long term market growth

Segment Market Size Market Growth Market Share

(THB million) (%YoY) (%)

Energy Drinks 20,500 9.1% 49.5%

(-510 bps YoY)
Beverages

Functional Drinks 8,400 2.5% 42.7%

(+550 bps YoY)

Personal Care Baby Liquid Soap 1,400 8.4% 34.1%

(-50 bps YoY)

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 Q4’22 and FY’22 Financial Highlights by Segment

FY’22 Net Sales THB 27,266 million (+1.9% YoY )

Domestic 4Q22 FY’22 International 4Q22 FY’22

Beverages YoY QoQ YoY Business YoY QoQ YoY

(THB 17,600 million) (THB 4,632 million)
-17.2% +0.6% -5.5% +5.5% +12.5% +8.4%

Energy Drinks -21.5% -1.2% -8.9% CLMV +3.7% +21.9% +10.3%

Functional Drinks -6.6% +7.6% +2.3% Others +12.2% -11.4% +1.5%

4Q22 FY’22 4Q22 FY’22

Domestic YoY QoQ YoY Others YoY QoQ YoY
Personal Care (THB 2,794 million) +46.4% +7.6% +43.2%
(THB 2,240 million) +4.2% +12.0% +17.2%

Babi Mild -0.2% +17.7% +13.3% OEM +45.6% +9.7% +43.7%

Twelve Plus +18.8% -1.9% +26.0% Others +49.0% +0.8% +41.5%

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Q4’22 and 12M’22 Key Financial Highlights

Total Revenue (THB million) Net Profit (THB million)

Q4’22 12M’22 Q4’22 12M’22

Total revenue % growth YoY QoQ YoY Net profit %growth YoY QoQ YoY
Reported revenue -7.7% +3.8% +0.7% Reported net profit -60.4% +38.0% -40.6%

Revenue from sales Other income Reported net profit to the owners of the parent

27,482
27,278

1200
1000
7,010 800
6,471 26,762 27,266 3,255
6,231 600
400 851 1,934
6,952
6,178 6,432 200
244 337
0
Q4'21 Q3'22 Q4'22 12M'21 12M'22 Q4'21 Q3'22 Q4'22 12M'21 12M'22

Profit margin 12.2% 3.9% 5.2% 12.2% 7.1%

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Q4’22 and 12M’22 Key Financial Highlights

Gross Margin (%) SG&A-to-Sales (%)

Q4'22 12M'22 Q4'22 12M'22

GM % movement YoY QoQ YoY SG&A-to-sales % movement YoY QoQ YoY
Reported -460 bps 60 bps -360 bps Reported 400 bps -90 bps 150 bps
Excl. C-Vitt/Yanhee/Snack -460 bps 40 bps -340 bps

Reported gross margin Gross margin excl. C-Vitt/Yanhee/Snack Selling expense (%) Admin expense (%)

26.4%
25.5% 23.8%
22.3%
21.5%
7.8% 8.4% 6.6%
6.4%
5.3%
34.5% 34.2%

18.6% 17.3%
30.6% 16.2% 15.9%
29.9% 17.1%
29.3%

Q4'21 Q3'22 Q4'22 12M'21 12M'22 Q4'21 Q3'22 Q4'22 12M'21 12M'22

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FY’22 Profit Movement
Price increase could offset expected commodity and natural gas price increase but faced with
volume decline

Cost Price Volume

Included dividend income, profit from

-743 joint venture, and others

-979
1,898 -223
-496 -32
-608
-138 Short-term volume reduction
3,255 impacted in both glass and
beverage filling production

Cost mitigation through

Reflected the incremental from the new M-150
1,934
FF10X and new
procurement strategy • Increased proportion of THB 12 SKU
• Help offset commodity cost and natural gas price
increase, and partially volume decline

NPAT Commodity Natural gas Electricity Price Volume Fixed cost SG&A Others NPAT
FY'21 deleverage FY'22
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Profit Movement QoQ
Price increase could offset expected commodity and natural gas price increase

Cost Price

-40 -4
New quarter high of natural gas with
peaked in Oct’22 and started to decline

298
-89
Incremental price from 337
premiumization and discount &
244 -51 allowance optimization
-21

NPAT Q3 Cost Natural gas Electricity Price SG&A Others NPAT Q4

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Balance Sheet (as of 31 December 2022)

Key Changes in Balance Sheet Items

• Total assets: Decreased by THB 988 from
: THB 1,406 million decrease in cash and cash equivalent
: THB 391 million increase in trade and other receivable
: THB 489 million increase in inventories
: THB 250 million decrease in PPE
• Total liabilities: Increased by THB 461 million mainly from THB 728 million increase in additional loans
from financial institutions, partially offset by a decrease of THB 232 million in other liabilities (mainly from a
decrease in provision for employee benefits and income tax payable)
• Total equity: Decreased by THB 1,449 million mainly from the lower retained earnings due to the final
dividend payment of 2021 and 2022 interim dividend payment at the amount of THB 3,304 million
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Cash Flows and Key Ratios
Cash Flows (as at 31 December 2022) Key Financial Ratios
Units: THB million

Cash Flow Movements

Operating CF: THB 2,142 million cash inflows from Notes: ROE and ROA are annualized
1) THB 1,924 million net profit
2) THB 1,885 million non-cash transactions (depreciation and provision)
3) THB -1,125 million change in working capital
4) THB -543 million tax paid
Investing CF: THB 824 million cash outflows mainly from
1) THB -1,312 million net PPE and other intangible asset acquisition
2) THB -57 million acquisition of interest in Osotspa Yanhee Beverage Company Limited
3) THB 545 million dividends received from joint ventures and other long-term investments
Financing CF: THB 2,724 million cash outflows from
1) THB -3,304 million dividends paid
2) THB 579 million short-term loans from financial institution
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Dividend Payment and Policy

Dividend Policy
At least 60% of consolidated net profit after deducting the legal reserve

Dividend Payment
The Board of Directors approved the total 2022 dividend 0.9 Baht per share, equal to approximately 140% payout.
The 2022 declared dividend is subjected to the Company’s shareholder approval in the AGM to be held on 26 April 2023

Unit: THB per share

1.1 1.1
1
0.9
**2022 Final dividend payment
0.69 0.65 0.65
0.65 0.45** Key dates
Final 0.39 Ex-dividend date 4 May 2023
Record date 8 May 2023
Interim 0.3 0.35 0.45 0.45 0.45
Payment date 25 May 2023

2018 2019 2020 2021 2022

Payout ratio 73% 93% 94% 102% 140%
(% of net profit)

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2 YEAR 2022 IN REVIEW
2022 : Priorities Tracking Summary
Medium to Long-Term Target : Double-Digit Top and Bottom Line Net sales +1.9%
Faced short-term turbulence but we are on track of building our future growth NPAT 1,934mB

Fast Forward 10X Beverage Thailand Accelerate IB and Restart PC & HCC
Delivered THB 929 million • Premiumize M-150 portfolio Manage Myanmar Delivered strong growth
gross savings • Drive functional beverages • Domestic PC +17.2%
Reported Normalized
(Aligned with target of THB 5,000
growth (through C-Vitt zero Growth Growth • HCC +60.1%
million over 5 – 7 years) sugar, Calpis, and Peptein)
Myanmar 9% 18%
• Launched Yanhee CBD Total IB 8% 12%

Partnership for New Growth Engine

• Continued B2B collaboration
• Set up a dedicated and experienced team to drive inorganic growth

Drive Sustainability and CSR

Good progress towards 2025 roadmap

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 2022 ESG Progress Against 2025 Commitment
Good progress towards 2025 roadmap, reflecting our commitment “Enhancing Sustainable Living” for all stakeholders

Actual consumption reduced 2.2% YoY but missed intensity level target due to
short-term lower production volume during portfolio transition

Economic 2025 Target Environment 2025 Target

Critical supplier assessment 100% 100% Reduction in energy intensity 10%

Developed small supplier 296 450 Reduction in GHG intensity 15%

Develop local herb farmers 107 500 Reduction in water intensity 12% 40%

Social 2025 Target

People
2025 Target
Beverage: low or zero sugar 90% 100% CoC and SD training 100% 100%

HCC: sugar free 65% 50% Avg training hours per FTE 17.5 16

CSR: improve quality of living 3,012 5,000

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Awards and Recognition

Corporate & Innovation & ESG /

Branding Manufacturing Sustainability

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3 OUR 2023 PRIORITIES
 2023 Outlook and Guidance

Market New Growth Inorganic

Profit Sales ESG
Share Engine Growth

Strong Double-digit Profitable Thailand Strong progress Set up a

double-digit % growth market share New beverages to 2025 targets dedicated and
% growth gains space & experienced
Exit Q4’23 market International plan for carbon team
share at least 2%
higher than Q4’22
Accelerate current neutrality in
sizable markets 2050 Progress M&A
& seeding new
markets
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Delivering Our 2023 Sales Priorities
Domestic Beverages

Build “M-pire” to win in Innovate new future Drive consumer Strengthen distribution
two-price tier market growth drivers offtake networks

• Lead premium segment with
established baseline &
heading for recovery
• Scale up distribution of total
portfolio
• Reactivate herbal segment
• Promote holistic health
rather than just immunity
• Expand occasion to
refreshment portfolio
• Use both online & offline
(O2O)
• Be top of mind brands
• Continuous support of sports
and music marketing
• Perfect our in-store
execution
• Utilize digital tools to engage
the whole distribution chain

12-15 THB 10 THB

47.5% 51.6%

? ?

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Delivering Our 2023 Sales Priorities
International Beverages Home Personal Care

Double-digit growth for Grow herbal and modern

Manage and maximize Continue growth
other international supplements with health
in Myanmar momentum
business & well being trend

• Leverage local team and
infrastructure
• Explore future opportunities
• Continue momentum in
Laos, Cambodia, Indonesia
• Maximize profitable exports
• Seeding new markets
• Build Babi Mild brand equity
• Extend Babi Mild to Ultra Mild
for adults
• Build deodorant under Twelve
Plus and Exit
• Build KILANE master brand
and focus on digestive
• Grow BANNER and seek to
extend to other protein
formats

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Delivering Our Bottom-Line Improvement

Optimize production capacity

& increase efficiency

Manage commodity and

energy costs

Process transformation

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OSP Sustainability Roadmap to Carbon Neutrality and Net Zero

2025
2020
Beginning of our
sustainability journey
Establishing team and roadmap
2050-2065
2030
Commitment to net zero
Accelerating GHG emissions emissions
reduction • Zero emissions (Scope 1&2)
Achieving initial goals
• Energy saving technology • Scope 3 reduction
• 10% energy reduction • Renewable energy
• 40% water reduction
• EV fleets
• 100% PVC reduction
• 100% recyclable
• 5% weight reduction
• 100% package take back
• 40k tons cullet used
• Develop 500 local herb
farmers

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 Thank you

Investor Relations
Email: ir@osotspa.com
Tel: 063-206-0173, 065-984-5364
Website: www.osotspa.com