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Results for six months to 30 September 2026 5 November 2026 Nick Hampton, Chief Executive Sarah Kuijlaars, Chief Financial Officer
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2 This presentation of the Half- Y ear Results for the six months to 30 September 2026 contains certain forward-looking statements with respect to the financial condi tion, results, operations and businesses of T ate & Lyle PLC. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements andforecasts. Six months to 30 September 2026 Cautionary statement
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3 Six months to 30 September 2026 Agenda Financial results Strategic progress Outlook and Summary Overview 1 2 3 4
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4 Six months to 30 September 2026 Recommended offer for T ate & Lyle On 8 June 2026, the Boards of T ate & Lyle and Ingredion announced they had agreed on the terms of a recommended cash acquisition by Ingredion of the entire issued and to be issued share capital of T ate & Lyle ‒ Under the offer, T ate & Lyle shareholders to receive value of up to 615 pence for each T ate & Lyle share ‒ This includes final dividend of 13.2p (paid in June 2026) and interim dividend of 6.8p (to be paid in January 2027) On 28 July 2026, T ate & Lyle's shareholders approved the transaction with 98.64% of votes cast in favour Regulatory and antitrust filings are progressing as anticipated Continue to expect completion of the transaction in the second half of the 2027 calendar year
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5 Strategic actions to accelerate customer wins delivering results Return to volume-led revenue growth Outlook for 2027 financial year maintained 1 2 3 Six months to 30 September 2026 Key messages
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6 Six months to 30 September 2026 Successfully delivering on our priorities Good progress executing on the priorities we set out in May 2026: Deliver volume-led growth +2% underlying 1 revenue growth Navigate unpredictable geopolitical environment from faster-growing markets Navigating uncertainty well, challenges continue in H2 Execute strategic priorities Actions to drive commercial excellence delivering tangible impact 1. Underlying revenue growth excludes bulk sweetener s and co-products in Europe and tariff reimbursemen ts in the US
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7 Six months to 30 September 2026 Successfully delivering on our purpose Reducing greenhouse gas emissions Updated emissions targets validated by Science Based T argets initiative on 1.5 oC trajectory T argets are absolute reduction 1 in both Scope 1&2 emissions and Scope 3 emissions of 63% by 2036, and Scope 3 FLAG 2 emissions of 43% by 2036 Reducing water use Re-focused water reduction programme on 8 sites with highest risk for water-related stress New target to reduce water use intensity by 15% by 2034 3 across these 8 sites Increasing fibre fortification New target to provide over 35 billion servings of fibre in food and drink by 2030 sufficient to close people’s daily ‘fibre gap’ of 15g of fibre each day 4 1. Baseline of the year ended 31 March 2024 2. Forest, Land and Agriculture 3. Baseline of the year ended 31 March 2022 4. 10-year target from 1 April 2020 to 31 March 2030 ; 18.3 billion servings of 15g of fibre delivered i n six years to 31 March 2026. Project to reduce greenhouse gas emissions and energy use by c.20% at pectin facility in Denmark to be completed in 2027
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8 Six months to 30 September 2026 Agenda Financial Results Strategic progress Outlook and Summary Overview 1 2 3 4
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9 Six months to 30 September 2026 Financial highlights T ate & Lyle Adjusted EBITDA 1 (8)% £197 million Free cash flow £100m Adjusted earnings per share 17 .5p Adjusted profit before tax 1 (18)% £102 million +1% £1,039 million +2% Excluding bulk sweeteners and co-products in Europe and tariff reimbursements in the US 1. See descriptions of adjusted results for the six months to 30 September 2026 on the Company’s w ebsite; Changes in adjusted performance metrics are in constant currency and statutory profit after ta x at £28 million, is (50)% lower than the comparative period. Revenue
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10 £(25)m £1,024m £32m £1,031m FY26 H1 revenue Volume/mix impact Price investment FY27 H1 revenue (constant currency) 1. Change in constant currency . 2. FY is financial year ended 31 March; H1 is six mo nths to 30 September. 10 Six months to 30 September 2026 Improving revenue performance Volume-driven revenue growth 1 +1% 2 Underlying revenue growth of 2% > Excluding European bulk sweeteners and co-products and US tariff reimbursements > Volume/mix of 4% Reported volume-led revenue growth of 1% > 3% volume/mix growth partially offset by (2)% lower pricing 2
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1. FY is year ended 31 March ; H1 is the six months to 30 September. 2. Change in constant currency .11 Six months to 30 September 2026 Adjusted EBITDA EBITDA lower due to price investment to drive volume, cost inflation and investments in growth FY26 H1 Adjusted EBITDA £215m FY27 H1 Adjusted EBITDA £197m Adjusted EBITDA (8)% lower 2 due to: Revenue Volume/mix Cost synergy annualisation and productivity Price investment Cost inflation Investments in growth 1 1
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12 12 Six months to 30 September 2026 Segmental performance 1. Percentage change in constant currency Adjusted EBITDA 1Revenue 1Region £134m In-line £521m 1% Americas £36m (28)% £308m (4)% Europe, Middle East and Africa £27m (13)% £210m 7%Asia Pacific Americas > Strategic pricing actions drove 2% volume/mix growth > Revenue +2% excluding tariff reimbursement > EBITDA reflects lower pricing offset by volume/mix and positive operating leverage Europe, Middle East and Africa > Lower revenue from flat volume/mix and lower pricing > Volume/mix +2% excluding European bulk sweeteners/ co-products > EBITDA reflects pricing pressure and cost inflation Asia Pacific > Strong revenue growth driven by 9% volume/mix > Good growth across all areas > EBITDA impacted by pricing actions, cost inflation and investments
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13 On track to deliver 5-year productivity target of $200m 1 by 31 March 2028 Six months to 30 September 2026 Productivity programme $27m $171m $200m H1 FY27 Delivered in last 3.5 years Productivity target 3 2 Productivity programme 1. US dollars. 2. H1 FY27 is the six months ending 30 September 202 6. 3. Delivered in three and a half years to 30 Septemb er 2026. Productivity savings of $27m delivered in H1 ‒ $17m from operational efficiencies and cost reduction ‒ $10m from procurement and supply chain $171m productivity savings delivered in last 3.5 years Consolidation of bio-gums capacity progressing as planned
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14 Six months to 30 September 2026 Exceptional items, T axation and Dividend Adjusted effective tax rate 23.5% (90)bps Expect to be in range of 23% to 25% for the 2027 financial year M&A and pre-tax exceptional charges £(33)m Interim dividend In line with Rule 2.7 announcement in June 2026 6.8p per share +0.2p £(18)m M&A costs £(11)m integration costs £(7)m plant equipment failure £3m provision release
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15 1. See descriptions of adjusted results for the six months to 30 September 2026 on the Company’s websit e. 2. Free cash conversion (FCF) calculated as: Free ca sh flow before CAPEX / EBITDA. 3. FY is year ended 31 March; H1 is six months to 30 September. Continue to expect capital expenditure to be in range of £110m to £130m range in the 2027 financial year Good performance with free cash flow 1 of £100m and cash conversion 2 of 75% Six months to 30 September 2026 Free cash flow £(18)m £(2)m £98m £15m £7m £100m FY26 H1 FCF Adjusted EBITDA Working capital Capital ex penditure Net interest, tax and other FY27 H1 FCF 3 3
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16 Attractive long-term funding in place > T arget long-term leverage remains between 1.0x and 2.5x net debt to EBITDA > Significant headroom compared to 3.5x net debt to EBITDA covenant threshold Net debt £959m, £20m higher than at 31 March 2026 Strong liquidity headroom of £1 billion Maintaining financial strength Net debt to EBITDA 2.3x at 30 September 2026 on covenant basis 2.4x on reported basis Six months to 30 September 2026 Balance sheet
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17 Six months to 30 September 2026 Agenda Financial Results Strategic progress Outlook and Summary Overview 1 2 3 4
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18 Six months to 30 September 2026 T argeted investments to accelerate customer wins delivering results Enhanced customer segmentation Investing in science and innovation Investing in technology to drive sales effectiveness Stronger customer-facing capabilities Accelerating roll-out of customer solutions
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19 Six months to 30 September 2026 Good progress on actions to drive commercial excellence across business Investing in new tools and insights Implemented single, common, integrated CRM platform Enhancing AI sales tool providing fast access of technical insight T argeted training programme to enhance sales effectiveness Enhanced customer segmentation Focus on customers who value our capabilities T arget higher growth sub-categories Prioritise innovation spend and resource allocation Partners Enterprise Accelerators Core
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20 Six months to 30 September 2026 Key target areas driving growth: dietary fibre 2 Fibre Fortification 1 Increases Nutrition Density 3 Enables Diets 4 Supports Health Benefits 5 Improves Labelling More nutrition Less sugar High in fibre Fibre claims Low in net carbs Low in calories Prebiotic Gut and Bone health Better Nutriscore Avoids HFSS 1 restrictions Formulating with soluble fibres brings multiple benefits for customers and consumers Asia Pacific +15% Americas +52% Americas +29% 1. HFSS is High in fat, sugar and salt H1 revenue growth
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21 Six months to 30 September 2026 Building deeper relationships with customers Achieve ‘source of fibre’ claim Deliver light and crunchy texture No change to production process “T ate & Lyle scientists have supported our fibre fortification work across a number of brands, helping our technical team to deliver healthier products that consumers enjoy, as part of our efforts to double sales of products with a better nutritional balance by 2030. ” Senior Director, Global Health and Wellness, pladis Fibre fortification 1 Solution enhancing mouthfeel Customer challenge Customer solution Customer collaboration 1. 4.7g per 100g securing an on-pack ‘source of fibr e’ claim; fibre used is STALITE® Polydextrose
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22 Deliciously Healthy Healthier and tastier. Y ou don't have to choose. September Six months to 30 September 2026 T argeted customer marketing campaigns address key consumer trends Mastering the Science of Value TM Affordability June
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1. Proportion of business wins which required techni cal support and/or lab work. 2. New Products revenue on a like-for-like basis in constant currency (i.e. no products removed from di sclosure due to age); revenue was (5)% on a reporte d basis in constant currency. 3. Risk adjusted value; after adjusting for the harm onisation of Stage Gates and data cleanse undertake n as part of the migration to a common CRM platform . 23 +17% Increase in value of new business pipeline 3 +4 Solutions chassis launched into the market 58% Solutions from new business wins by value 1 Six months to 30 September 2026 Solutions, innovation and pipeline momentum +4% Increase in revenue from New Products 2
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24 Six months to 30 September 2026 Agenda Financial Results Strategic progress Outlook and Summary Overview 1 2 3 4
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25 Six months to 30 September 2026 Outlook for full-year maintained Outlook for year ending 31 March 2027 maintained On a constant currency basis, we expect to deliver: – Modest revenue growth, underpinned by volume growth, weighted to the second half – Broadly flat EBITDA before the c.US$20m impact of the rescheduling of the consolidation of bio-gums capacity The extension of the conflict in the Middle East means the impact has become more pronounced than originally anticipated and we intend to pass through cost inflation as we renew customer framework agreements for the 2027 calendar year while also seeking to offset cost inflation through a range of initiatives including procurement activities and operational discipline T ate & Lyle
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26 Six months to 30 September 2026 Summary Top-line growth, profit in line with our expectations and full-year outlook maintained Strategic execution to accelerate customer wins delivering results Long-term structural growth drivers of the business remain attractive Continue to expect sale of Company to complete in the second half of the 2027 calendar year Remain focused on strategic execution , top-line growth, cost discipline and delivering for customers Thanks to colleagues across T ate & Lyle for their outstanding commitment in a period of significant change
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Six months to 30 September 2026 Live Management Q&A 27 Date: 5 November 2026 Time: 09.00 GMT Dial-in details UK: +44 (0) 33 0551 0200 UK T oll Free: 0808 109 0700 USA Local: +1 786 697 3501 USA T oll Free: 866 580 3963 Password: T ate & Lyle Nick Hampton Chief Executive Nick Hampton, Chief Executive and Sarah Kuijlaars, Chief Financial Officer Sarah Kuijlaars Chief Financial Officer Speakers:
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