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TRANSFORMING INTO A DIGITAL-FIRST POWERHOUSE FEBRUARY 2026
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SAFE HARBOUR STATEMENT 2 This Release / Communication, except for the historical information, may contain statements, including the words or phrases such as ‘expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should’ and similar expressions or variations of these expressions or negatives of these terms indicating future performance or results, financial or otherwise, which are forward looking statements. These forward looking statements are based on certain expectations, assumptions, anticipated developments and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, market growth, intense competition and the pricing environment in the market, consumption level, ability to maintain and manage key customer relationship and supply chain sources and those factors which may affect our ability to implement business strategies successfully, namely changes in regulatory environments, political instability, change in international oil prices and input costs and new or changed priorities of the trade. The Company, therefore, cannot guarantee that the forward-looking statements made herein shall be realized. The Company, based on changes as stated above, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events. The Company does not undertake any obligation to update forward looking statements that may be made from time to time by or on behalf of the Company to reflect the events or circumstances after the date hereof.
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3 THE DIGITAL IMPERATIVE VISION & STRATEGIC FRAMEWORK THE DIGITAL CHESSBOARD PROVEN SUCCESS FORMULA OUTLOOK INDEX
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THE DIGITAL IMPERATIVE – SEIZING THE OPPORTUNITY Vietnam Internet Penetration ~87% Social Media Users 85M+2030 2030 GenZ Premium Buyers ~85% Livestream Buyers ~33%2030 2030 E-Com Chanel Growth ~27% E-Com penetration - Beauty ~50%2025-30 CAGR 2025 India Active Internet Users 96 Cr. D2C Market Growth 3x2030 2025-30 E-Com Growth ~19% Digital Payments Ex-Metros ~51%YOY 2025 Digital Ad Spends 59% E-Com penetration - BPC 25-30% 2025 2025 4 2025-30 CAGR
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THE DIGITAL IMPERATIVE VISION & STRATEGIC FRAMEWORK THE DIGITAL CHESSBOARD PROVEN SUCCESS FORMULA OUTLOOK INDEX 5
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5 Strategic Pillars Evidence Backed Acquisitions Operational Discipline Synergy Acceleration Prudent Capital Allocation Repeatable Playbook Enablers Capabilities and Talent Tech & Data Backbone Integration Excellence Cross LearningsII I VISION & STRATEGIC FRAMEWORK Product-Market Fit Healthy Unit Economics Distribution – Mindful GT Scale-Up Backend – incl. Supply Chain, R&D, CRM, Legal Attractive Valuations Time-Tested Operating Model Evolving Demand Spaces LEGACY FMCG INCUMBENT DIGITAL -FIRST CONSUMER COMPANY Maintain Hero SKU Contribution Staggered Transaction StructureControlled Portfolio Expansion 6 High Velocity Innovation Premiumization Strategic Resource Allocation
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7 THE DIGITAL IMPERATIVE VISION & STRATEGIC FRAMEWORK THE DIGITAL CHESSBOARD PROVEN SUCCESS FORMULA OUTLOOK INDEX
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Digital Foods Portfolio Digital Personal Care Portfolio Global Digital Portfolio MARICO’S DIGITAL CHESSBOARD 8
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Saffola Healthy staples, breakfast & snacking Mainstream health & wellness Trusted mass-premium foods driving rapid adoption True Elements Modern breakfast & snacking Accessible clean-label brand Honest food for everyday living 4700 BC Gourmet snacking Premium flavours & indulgence Elevate snacking for all occasions New acquisition Plix Plant -based nutraceuticals Active lifestyle nutrition Daily wellness regimens Cosmix Functional wellness Vegan & gut-friendly nutrition Root-cause approach to holistic health New acquisition FOODS PORTFOLIO – MARKET OPPORTUNITY LANDSCAPE 9
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4700BC provides immediate entry into the high-growth premium gourmet snacking category, with a proven, scalable platform. 4700BC - FILLING A WHITESPACE IN FOODS Business Performance ₹140 Cr Annual Run Rate No of units sold in a year 60% Net Promoter Score #2 Player In Popcorn Category FY23 FY25 FY26E ~40% CAGR 17% 25% 45% 13% Retail Institutional Digital PVR Kiosks Revenue Growth Channel Mix 11 4700BC Product Portfolio Popcorn (~75% Revenue) Ready to Cook Ready to Eat Other Snacks (~25% Revenue) Nachos Crunchy Corn Popped Chips Foxnut/ Makhanas Pretzels 6 Cr +
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Current Portfolio Capabilities Competitive Positioning Leading Brand with 80%+ Awareness Strong premium positioning in a fragmented category Premium Price Realization High Gross Margin with strong pricing power in gourmet segment, significantly above category averages. Diversified Portfolio ~25% of current sales beyond popcorns – Nachos, Popped chips, Foxnuts, Crunchy Corn and Pretzels BRAND WITH POTENTIAL TO TAP THE c.₹24K CR. TAM 12 Strategic Opportunity Western Snacking Portfolio ~₹24,000 Cr Market Growing @ ~20% Plix Plant-based Nutraceutical Cosmix Functional Wellness Saffola (Oats, Soya, Honey, Muesli) Mainstream Health & Wellness True Elements Clean-label Modern Breakfast & Snacking ~24k (58%) Western Snacks~17K (42%)Indian Snacks ~41K (INR cr.) Target market for 4700BC
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Leverage Marico Platform • Integrated procurement and supply chain capabilities • Accelerated market penetration through combined strengths 4700BC's strong brand equity combined with Marico's operational muscle creates a compelling value creation opportunity in India's fastest-growing snacking segment. STRATEGIC OUTLOOK 13 Target Growth → 3.5x (FY’30)₹140 Cr (ARR) Category Expansion • Scale beyond popcorn into adjacent snacking categories • Draw inspiration from global premium snacking brands Drive Profitability • Enhancing operational efficiency • Leveraging scale synergies • Driving premium-led product mix Go-to-Market • Build reach across GT and MT channels • Drive assortment and shelf execution excellence
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Growth Acceleration (2025E - 2030P) 2x FASTER Growth Rate Expanding Addressable Market Key Growth Drivers Critical Market Gap 73% of Indians (91% among vegetarians) are protein deficient, with >30% overweight population. Avg intake is just 60gms (half of US/UK) Category Transition to Plant Lactose intolerance driving away from whey. Plant-based protein supplement market approaching ₹1,000 Cr with superior gut health & clean label appeal Digital-First Consumer Shift Quick commerce growing at 50% CAGR. Millennials/Gen-Z (60% of base) drive premium adoption in Tier 2+ cities via e-com growth. The convergence of widespread nutritional deficiency and need for gut-friendly proteins represents a white space primed for exponential growth. Whey Protein Plant Protein Health Conscious Pop. Active Gym Membership 130 M 190 M 8 M 12 M PLANT PROTEIN - A LIFESTYLE CATEGORY WITH 2X GROWTH 15
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Cosmix Product Portfolio Protein Powders (~95% Revenue) No-Nonsense Plant Protein Pro (Yeast-based) No-Nonsense Plant Protein (Pea & rice-isolates) Gut-friendly formulation (Zero bloating) Supplements & Vitamins (~5% Revenue) Gut health, Hair health, Liver detox supplements Stress & anxiety relief formulations Multi-vitamins & targeted wellness Functional Foods (New Launches) Plant-protein pancake mix Protein bars (High protein, clean label) Expansion into daily nutrition format Business Performance ₹100 Cr Annual Run Rate 2 Lakh+ Active Customers High Teen Sustainable EBITDA Margins Cosmix is a digital-native clean nutrition brand with proven product-market fit across three high-growth wellness categories. #1 Bestseller Leading E-Com & Q-Com marketplaces FY24 FY25 FY26E 100%+ CAGR 4% 51% 45% Others D2C ECom & Qcom Revenue Growth Channel Mix COSMIX - FORTIFYING PRESENCE IN NUTRITION SPACE 16
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Leverage Marico Platform • Procurement scale • Integrated supply chain capabilities • Accelerated market penetration through combined strengths Cosmix's proven digital-first model, combined with clean product positioning and Marico’s capabilities, creates a high- conviction bet in functional wellness. STRATEGIC OUTLOOK 17 Sustain best-in- class D2C metrics • Maintain superior unit economics • Optimize LTV and CAC • Improve conversion funnels • Drive loyalty-led retention Category Expansion • Scale into adjacent wellness and nutraceutical categories • Scale up extensions within the plant-based protein segment Enhance Profitability • Drive operational efficiency in supply chain, inventory planning, and fulfillment • Leveraging scale synergies • Premium-led product mix Target Growth → 3x (FY’30)₹100 Cr (ARR)
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Beardo Men’s Grooming Modern Masculinity Category creator in men's styling Plix Beauty & Wellness Plant-based Personal Care (Hair & Skin Food) Wellness and Lifestyle Candid Actives based Skincare Science-backed Skincare Premium beauty play in Vietnam Kaya Clinical Skincare Dermatologist- backed Skincare Clinical-Grade Beauty Just Herbs Natural Personal care Ayurveda inspired Beauty Clean Beauty New Acquisition PERSONAL CARE PORTFOLIO - THOUGHTFUL PREMIUMIZATION 18
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Business Performance ~₹100 Cr CY2025 Revenue $30-55 Mid-premium (Price per SKU) ~90% Revenue from top 3 SKUs 25%+ Sustainable EBITDA Margin CY23 CY24 CY25 200%+ CAGR 55%32% 6% 7% E-Com Influencer D2C Others Revenue Growth Channel Mix CANDID – PREMIUMISING BEAUTY PLAY IN VIETNAM Influencer Collaboration HANNAH OLALA Leading Beauty Blogger Tik Tok: 1.9M followers Facebook >1.5M followers Candid combines dermatological credibility with digital-first agility, capturing the high-growth active skincare segment with superior unit economics. Candid Product Portfolio Anti-ageing Retinol Serum Gold Peptide Eye Cream Hydration B5 CICA Soothing & Repair Cream, Hyaluronic B5 Water Gel Mask Anti-acne AHA & PHA Exfoliator BHA Exfoliator 20
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Expand Portfolio • Expand into adjacent skin-care categories • Use hero products to drive traffic, trust, and cross-selling into new categories A powerful multi-vector growth strategy combining category diversification and social commerce dominance to capture digital beauty megatrends. STRATEGIC OUTLOOK 21 Social Commerce Leadership • Double down on content-led discovery • Leverage capabilities to accelerate digital salience of existing core franchises Multi-Market Scale • Strengthen leadership position in select channels • Expand into broader SEA markets • Leverage Marico’s regional platform, capabilities and ecosystem Sustain Profitability • Enhance operational efficiency in supply chain, inventory planning, and fulfillment • Leveraging scale synergies Target Growth → 3x (FY’30)~₹100 Cr (CY25)
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Global Playbook Securing first-mover advantage in high-growth emerging markets. Early Entry Replicate Models Asset Light Astroman Premium male grooming via immersive digital engagement. Candid Actives-led beauty positioning with data- driven execution. Natural ingredients focus with high customer retention rates. $28 B E-Commerce Market | 25% YOY Growth $11B live-commerce market by 2028, driven by 70% consumer adoption. ~99% Smartphone Penetration | Highest Globally E-commerce to hit $57B by 2026. 21% CAGR growth rate. UAE & KSA Vietnam GLOBAL DIGITAL EXPANSION Lashe 22 Organic Organic
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23 THE DIGITAL IMPERATIVE VISION & STRATEGIC FRAMEWORK THE DIGITAL CHESSBOARD PROVEN SUCCESS FORMULA OUTLOOK INDEX
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From Acquisition to Market Dominance Scale Up Velocity ~5x Shift in EBITDA Margin Consistent EBITDA margin expansion driven by efficiencies The Winning Blueprint Founder DNA Retained Supply Chain Synergy Focused Brand Campaigns Category Leader Ongoing Innovation BEARDO – SUCCESS CASE STUDY OF PROFITABLE SCALE-UP 24 +1900 bps
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From Acquisition to Market Dominance Scale Up Velocity ~6x Shift in EBITDA Margin Consistent EBITDA margin expansion driven by efficiencies The Winning Blueprint Strong Content Marketing Affordable yet Efficacious Offering Agile Supply Chain Category Creator +1100 bps Range Hero Strategy PLIX – SUCCESS CASE STUDY OF PROFITABLE SCALE-UP 25
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26 THE DIGITAL IMPERATIVE VISION & STRATEGIC FRAMEWORK THE DIGITAL CHESSBOARD PROVEN SUCCESS FORMULA OUTLOOK INDEX
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FY30 DIVERSIFCATION BLUEPRINT 27 FY20 FY24 FY27E FY30E ~9x ~4x x ~15x Foods Revenue (in ₹ cr.) FY22 FY24 FY27E FY30E Double Digit Teens Digital-first PPC EBITDA Margin (%) FY24 FY27E FY30E ~5x ~2.5x x Digital-first PPC exit ARR (in ₹ cr.) ~11% ~25% ~33% FY20 FY24 FY27E FY30E Share of Foods & PPC (incl. Digital-first ) (%) Digital-first PPC: Driving structural shift in profitability along with the accelerated scale-up. Foods: Foods growth to be driven by innovation, category development and market penetration. Share of Foods & PPC (incl. Digital-first) in India Revenues: Aggressive diversification in- progress through profitable scale-up of high growth businesses. ~22%(~8x earlier)
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THANK YOU