Page 1

KERRY Date : 30 July 2021 KERRY GROUP INTERIM MANAGEMENT REPORT 2021 Strong Growth and Strategic Portfolio Development Kerry reports business performance for the half year ended 30 June 2021 . OVERVIEW Group revenue of € 3.6 billion reflecting 9.0 % volume growth - Taste & Nutrition volumes + 9.8 % ( Q2 : + 18.1 % ) - Consumer Foods volumes + 4.6 % ( Q2 : + 8.5 % ) Pricing of + 0.5 % > Group trading margin + 70bps - Taste & Nutrition + 80bps - Consumer Foods + 20bps > Adjusted EPS of 152.0 cent - up 24.1 % on a constant currency basis Basic EPS of 128.2 cent ( H1 2020 : 120.4 cent ) Free cash flow of € 222m reflecting 83 % cash conversion Interim dividend per share of 28.5 cent ( H1 2020 : 25.9 cent ) Guidance updated to reflect business performance and portfolio development > Edmond Scanlon , Chief Executive Officer " We are pleased with overall performance in the period , reflecting continued strong growth in our retail channel , with good progression and momentum in foodservice while lapping lower prior year levels . The Americas had good overall volume growth , Europe delivered an excellent relative performance , while growth in APMEA remained strong despite challenging conditions in some local markets . A number of our end use markets had strong category development in the period , with Beverage in particular achieving excellent growth . We had some notable strategic developments this year as we continued to evolve our portfolio . We announced the acquisition of Niacet , which enhances our leadership position in the fast growing food protection and preservation market , while we also reached agreement for the sale of our Consumer Foods ' Meats and Meals business . These transactions will further enhance Kerry's position as a market - leading taste & nutrition company . Our performance through the period gives us continued confidence in our full year outlook , while recognising the inherent uncertainty that will remain in many regions through the remainder of the year . Our earnings guidance range has been updated as a result , and we have also reflected the expected impact from portfolio developments . " Kerry Group | Interim Management Report 2021 1