Disclaimer: Forward Looking Statements

Disclaimer: Forward Looking Statements

This presentation/announcement may contain forward looking statements with projections regarding, among other things, the Company’s strategy, revenues, earnings, trading profit, trading margin, finance costs, tax rate, capital expenditure, dividends, cash flow, net debt or other financial measures, the impact of foreign exchange fluctuations, the impact of raw material fluctuations and other competitive pressures. These and other forward looking statements reflect management expectations based on currently

available data.

However actual results will be influenced by, among other things, macro-economic conditions, food industry supply and demand issues, foreign exchange fluctuations, raw material and commodity

fluctuations, the successful acquisition and integration of new businesses, the successful execution of business transformation programmes and other, as of today, unknown factors and therefore actual results may differ materially from these projections.

These forward looking statements speak only as of the date they were made and the Company undertakes no obligation to publicly update any forward looking statement, whether as a result of new information, future events or otherwise.

Q1 2015 Interim Management Statement

Brian Mehigan

Q1 2015 Highlights

4

›

Volume growth +2.5%

›

Ingredients & Flavours +2.9%

›

Consumer Foods +1.4%

›

Pricing -2.4%

›

Group trading margin up 40bps

›

Ingredients & Flavours +40bps

›

Consumer Foods +20bps

›

Net Debt of €1.4bn

›

Earnings guidance for full year reaffirmed

2.9%

1.4%

2.5%

I&F Foods Group

Volume Growth

40 bps

20 bps

40 bps

I&F Foods Group

Q1 2015 Overview

›

Good start to 2015, despite ongoing challenging conditions in some developed markets

›

Developing markets more stabilised despite ongoing geopolitical issues

›

However growth in Asia remains strong

›

Taste & Nutrition positioning delivering innovation to meet changing consumer needs

›

Strong success in innovation for clean label / ‘free-from’ / nutritious product offerings

›

Foodservice growing across all geographies

›

Innovating to create wider menu offerings for our customers

›

Continued deflationary input cost environment

›

Delivering on Kerry Foods’ repositioning strategy

›

New launches meeting today’s consumer and channel needs

Revenue Analysis

Q1 2014

Q1 2015

6.9%

2.5%

(2.5%)

4.5%

(2.4%)

Food Price Volatility

MARKET ENVIRONMENT KERRY RAW MATERIAL INFLATION % CHANGES MONTHLY REAL FOOD PRICE INDICES* ANNUAL FOOD PRICE INDEX*

Note: * source: Food & Agriculture Organisation of the United States 7 110 130 150 170 190 210

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Food Dairy Oils Cereals Sugar 80 100 120 140 160 180 200 1 200 1 200 2 200 3 200 3 200 4 200 5 200 5 200 6 200 7 200 7 200 8 200 9 200 9 201 0 201 1 201 1 201 2 201 3 201 3 201 4 201 5

› The major commodity groups have

continued to soften

› Deflationary cycle – expected to continue into H2 2015 7% -8% 0% 8% 0% 4% -1% -6% 2008 2009 2010 2011 2012 2013 2014 2015 Expected

Q1 2015 Business Review – Ingredients & Flavours

› Volume growth +2.9%

› Price deflation of -2.3%, raw material savings shared with customers › Business performance and efficiency programmes contributed 40bps

margin growth

› Continued positive momentum in Americas despite some sectoral challenges

› Improved performance in EMEA markets › Good recovery in Sub-Saharan Africa

› Satisfactory business development in Russia despite political issues

› MENAT remains subdued

› Strong growth in Asia – delivering on continued investment › Benefitting from changing consumer trends

GROWTH

Revenue

+2.9%*

Trading margin

+40bps

Note: * volume growth 8

2.9%

0.6%

8.1%

2.9%

Q1 2015 Business Review – Consumer Foods

›

Volume growth +1.4%

›

Business performance and efficiency programmes contributed 20bps margin growth

›

Market opportunities, particularly in Dairy – driven by pricing investment of -2.6%

›

More stabilised UK and IRL market conditions

›

Kerry Foods repositioned portfolio performing well

›

Positive momentum in snacking and chilled convenience offerings

›

Good progress in channel strategy – convenience, internet & value

›

Managing carve-out of disposed businesses – Pastry business in 2014 and DTS which

completed in January

GROWTH

Revenue

+1.4%*

Trading margin

+20bps

Other Updates

Global Technology

& Innovation Centres

Kerryconnect

Debt Financing

FX

M&A

10

› Population of EMEA centre well progressed › Investor Day planned for 15 October 2015

› EMEA – progressing to plan

› APAC – commencing first deployment in Q2

› New 5 year €1.1bn revolving credit facility in place – extending debt maturity profile

› Impact in line with February guidance

› Technology joint venture partnership agreed with IOI Loders Croklaan › Agreement reached to acquire Insight Beverages in North America › Sale of DTS complete and Pinnacle disposal now expected to be

2015 Outlook: Summary

›

Continued growth ahead of our markets

›

Well positioned in both businesses to meet consumer trends – snacking,

convenience, nutrition, clean label etc.

›

Good innovation pipeline

›

Continued investment in Developing Markets to meet local consumer needs

›

Further development of Foodservice platforms in all regions

›

Strong acquisitions pipeline

The Group is confident of delivering full year earnings

growth as previously guided