CORPORATE

PRESENTATION
March 2023
DISCLAIMER
This presentation may contain financial or business projections regarding recent
acquisitions, their financial or business impact, management expectations and
objectives regarding such acquisitions and current management expectations on the
operating and financial performance of The Company, based on assumptions that, as of
today, are considered valid. Financial and business projections are estimates and do
not constitute any declaration of historical facts. Words such as “anticipates”, “could”,
“may”, “can”, “plans”, “believes”, “estimates”, “expects”, “projects”, “pretends”,
“probable”, “will”, “should”, and any other similar expression or word with a similar
meaning pretend to identify such expressions as projections. It is uncertain if the
anticipated events will happen and in case they happen, the impact they may have in
Alicorp’s or The Consolidated Company’s operating and financial results. Alicorp does
not assume any obligation to update any financial or business projections included in
this presentation to reflect events or circumstances that may happen.
TOPICS

KEY INVESTMENT HIGHLIGHTS 1

ALICORP AT A GLANCE 2
CORPORATE STRATEGY 3
SOLID LIQUIDITY AND STRONG BALANCE SHEET 4
APPENDIX 5
KEY INVESTMENT
HIGHLIGHTS
Key Investment Highlights

1
Leading regional player with a successful business model diversified
across product categories and countries

2
Portfolio of top-of-mind and leading brands with a proven track record
of successful new product offerings

3
Unique manufacturing and distribution platform to serve Consumer
Goods, B2B and Aquafeed clients

Solid financial performance driven by our comprehensive efficiency

4 program, shareholder value creation mindset and our corporate

sustainability goals

5
Highly experienced management supported by a leading and
innovative shareholder group in Peru

4
 KEY INVESTMENT HIGHLIGHTS

1. Leading regional player with a successful business model diversified across product categories and
countries
UNMATCHED PORTFOLIO OF HIGHLY SUCCESSFUL LEADING BRANDS ACROSS DIFFERENT SECTORS AND COUNTRIES
Brands with leading position and market share in market and customer segmentation allows an efficient pricing process

CONSUMER GOODS B2B AQUAFEED CRUSHING

CATEGORIES RANK1,2 CATEGORIES RANK1 CATEGORIES RANK1 CATEGORIES RANK1

Industrial
Laundry Care #1 Baking Flour #1 Shrimp (ECU) #2 Crude Oil #1

Soybean &
Edible Oils #1 Industrial Oil #1 Fish (PER) #1 Sunflower meal #1

Pasta #1 Shortenings #1 Fish (CH) #4

Cookies & Crackers #2 Sauces #1 Shrimp (NIC) #4

Sauces #1 Industrial Margarines #1 Shrimp (PER) #2

Personal Care #3 Frozen Products #1 Shrimp (HON) #1

5
1 Based on Kantar World Panel and internal estimates
2 Ranking for Consumer Goods Peru
KEY INVESTMENT HIGHLIGHTS

Top-of-mind portfolio and leading brands with a proven track record of successful new product offerings

SUCCESSFUL NEW PRODUCT LAUNCH STRATEGY WITH MORE THAN 160 OWN BRANS ACROSS DIFFERENT TIERS AND CATEGORIES

CONSUMER GOODS
EDIBLE LAUNDRY PERSONAL
TIERS PASTA SAUCES FLOUR COOKIES
OILS CARE CARE

Premium

Mainstream

Value

NUMBER OF PRODUCTS LAUNCHED PER YEAR FOR ALL OUR BUSINESS UNITS
120
99
78 72

43 43 42 39 40
33

6
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1
1 LTM as of March 2023
 KEY INVESTMENT HIGHLIGHTS

3. Unique manufacturing and distribution platform to serve Consumer Goods, B2B and Aquafeed clients

OUR MANUFACTURING AND DISTRIBUTION NETWORK EFFICIENTLY INTEGRATES LOCAL AND REGIONAL OPERATIONS

Distribution Capabilities1

For Consumer Goods and B2B,

strong manufacturing and logistics Honduras
Exclusive
network in Peru and Bolivia,
reaching
32% Distributors Nicaragua
Costa Rica
Panamá

▪ More than 200,000 clients

Traditional Channel
Colombia

Ecuador

▪ 37 production facilities
▪ 17 distribution centers 11% Wholesalers Peru

▪ 100% coverage of supermarkets

Bolivia

and grocery stores

Chile

▪ Network complemented by 38 Non-exclusive

exclusive distributors and 27 sales 34% Distributors
offices throughout Peru

▪ Operates in 4 local ports

Parent
Modern
23%
Establishment

Channel2 Direct Presence

(Production)

Main Exports 7
1 For our Consumer Goods Peru and B2B businesses
2 Includes supermarkets, cash & carriers and convenience stores, and digital channels
 KEY INVESTMENT HIGHLIGHTS

Solid financial performance driven by our comprehensive efficiency program and shareholder value
creation mindset

SALES EVOLUTION EBITDA & EBITDA MARGIN

In PEN million In PEN million

CAGR CAGR
+10%
+13%
15,406 15,387 1,622
1,440
12,216 1,277 1,317

1,119
9,872 1,022
9,348
8,289 903
802
6,949 722
6,283 6,580 6,629
486

12.9% 10.8% 10.5% 9.4%

13.0% 12.3% 12.0%
11.0% 12.1%
7.7%

2014 2015 2016 2017 2018 2019 2020 2021 1,2 2022 2 2023 LTM 2 2014 2015 2016 2017 2018 2019 2020 2021 1,2 2022 2 2023 LTM 2

8
1 2020: figures include accounting adjustments (IFRS 16 in Peru)
2 Ex. Discontinued Operations (Argentina and Brazil) since they were sold in Q4 ’21
KEY INVESTMENT HIGHLIGHTS

Highly experienced management supported by a leading and innovative shareholder group in Peru

OUTSTANDING MANAGEMENT TEAM COMBINES PROVEN TRACK RECORD OF ORGANIC AND INORGANIC GROWTH STRATEGIES AND VAST SECTOR EXPERIENCE
▪ Support from a regional conglomerate champion such as Grupo Romero
▪ Governance model under the “One Alicorp” mindset to encourage transfer of knowledge and focus on talent management
Highly Awarded

MANAGEMENT
REPUTATION &
LEADERSHIP
MANUEL ROMERO PATRICIO JARAMILLO LUIS ESTRADA
ALFREDO PÉREZ VP – B2B, Crushing &
VP – Finance & VP – Consumer Goods &
Chief Executive Officer Commodity Management
Transformation Innovation

STRATEGY
HUGO CARRILLO STEFAN STERN MAGDALENA MORALES PAOLA RUCHMAN
General Manager – Vitapro VP –Supply Chain VP – Corporate Affairs VP – Human Resources
9
ALICORP AT A
GLANCE
ALICORP AT A GLANCE
Alicorp is the leading company of consumer goods in Peru and one of the biggest in Latin America

ALICORP IN THE REGION DIVISION BY BUSINESS UNIT

BRANDED FOODS, HOME & PERSONAL CARE

CONSUMER
36% of total revenue
Honduras 2023 LTM1 GOODS
REVENUES 78% 13% 4% OTHERS 4 %
Nicaragua
Costa Rica
Panama
FOOD SERVICE, BAKERIES, INDUSTRIAL CLIENTS
Colombia

Ecuador
15.4 B2B 18% of total revenue
PEN Billion 98%
~4.0 USD Billion
Peru

SHRIMP FEED, SALMON FEED

Bolivia
46% AQUAFEED 26% of total revenue
8,000+ Chile Out of Peru 61% 35% 4%
Employees

37
Industrial Plants
Uruguay
10% SOYBEAN & SUNFLOWER SEED PROCESSING & AGRICULTURAL
SUPPLIES
CRUSHING 20% of total revenue
CAGR in PEN
30+ 2014-2023 34% 24% 10% OTHERS 32%
Countries Parent
Establishment

Direct Presence
(Production)

Main Exports

1 LTM as of March 2023 11

ALICORP AT A GLANCE
We continue to progress in Our Journey Towards a More Sustainable Company

STRATEGIC PILLARS
IN 2021 WE STARTED A Our roadmap

PROCESS OF REVISING, CLOSING GAPS TO THE ALIGNMENT WITH

STRENGTHENING AND EXPECTATIONS OF KEY CORPORATE WELLBEING
PRIORITIZING OUR
STAKEHOLDERS STRATEGY

SUSTAINABILITY
STRATEGY MEASUREMENT AND
GOVERNANCE MODEL
REPORTING
IMPROVEMENT IN COMMUNITY
INTEGRATING DEVELOPMENT
SUSTAINABILITY GOALS Initial Results
ACROSS THE COMPANY, +55%

ALIGNING OUR
STRATEGY TO THE ENVIROMENT
INTERESTS OF KEY
STAKEHOLDERS AND 2020 2021

CORPORATE OBJECTIVES
INCREASE IN OUR CORPORATE INCLUDED IN THE S&P/BVL PERU
SUSTAINABILITY ASSESSMENT (DJSI) GENERAL ESG INDEX IN 2022

For more information about our initiatives, please visit: https://www.alicorp.com.pe/media/PDF/2021_Consolidated-Annual-Report-Alicorp-SAA.pdf 12

 ALICORP AT A GLANCE
Consumer Goods Peru1

MAIN CATEGORIES BREAKDOWN REVENUE AND GROSS MARGIN HIGHLIGHTS

% of Sales In PEN million

CAGR 2018-2023: +6.5%

Production facilities
4,328 4,373
OUR CONSUMER 3,188
3,895
3,549 3,716
Main categories and brands
GOODS PERU 29% 27%

BUSINESS UNIT 30.3% 29.1% 32.8% 26.6% 24.7% 24.7% Edible Oils

OFFERS FOODS, HOME 2018 2019 2020 2021 2022 2023 Detergents
AND PERSONAL CARE 7%
18%
LTM

PRODUCTS
8%
Household Care
11% EBITDA AND EBITDA MARGIN
In PEN million

Detergents Sauces CAGR 2018-2023: -1.3% Pastas

OUR MULTI-TIER AND Edible Oils Cookies & Crackers
643 679
MULTI-CHANNEL
Pastas Others
556 534 522
466 Cookies

STRATEGY ALLOWS 16.5% 19.1% Personal Care

US FOR A VERY
17.4% 12.3%
12.6% 11.9%

IMPORTANT MARKET
2018 2019 2020 2021 2022 2023 Sauces
LTM

PRESENCE IN PERU “We are accelerating profitable growth through innovation, focusing resources in
strengthening our product and brand superiority in key categories supported by
superior go-to-market strategy and supply chain operational excellence”
– Patricio Jaramillo, VP Consumer Goods 13
1 LTM as of March 2023
 ALICORP AT A GLANCE
Consumer Goods International1

GEOGRAPHICAL PRESENCE REVENUE AND GROSS MARGIN

In PEN million HIGHLIGHTS
CAGR 2018-2023: -1.1% Production facilities
1,706
OUR CGI BUSINESS 1,289
Main exports
1,222
1,074 1,127 1,198
PRODUCES AND
DISTRIBUTES FOODS, 24.8%
26.9%
28.2% 21.4% 17.5% 16.7%

HOME AND PERSONAL

Main categories and brands

2018 2019 2020 2021 2 20222 20232

CARE PRODUCTS
Edible Oils
LTM

MAINLY IN LATIN Main geographies

EBITDA AND EBITDA MARGIN Detergents

AMERICA, WITH A
In PEN million
Main Exports

117
STRATEGIC FOCUS IN
Household Care
89
THE ANDEAN REGION 10.8%
47 Pasta
-0.1% 5.2% 4.1% -0.6% -2.3%

-1 -7 Hair Care
-28
2018 2019 2020 2021 2 2022 2 2023 2
LTM

“The strategic role of the CGI business is to contribute incremental profitable growth
while diversifying Alicorp’s geographical risk profile, with a strong focus in those
countries where we can replicate our successful model in Peru.”
– Patricio Jaramillo, VP Consumer Goods 14
1 LTM as of March 2023
2 Ex. Discontinued Operations (Brazil and Argentina)
ALICORP AT A GLANCE
Consumer Goods Bolivia

MAIN CATEGORIES BREAKDOWN1 REVENUE AND GROSS MARGIN1

% of Sales In PEN million
MAIN CATEGORIES AND BRANDS
CAGR 2018-2023: +16.0%

745 753
OUR CONSUMER 695 718
EDIBLE OILS
589
GOODS BOLIVIA UNIT 30% 27% 358
IS BACKWARDS 19.7%
28.1% 27.8%
18.8% 16.4% 16.1%

VERTICALLY
DETERGENTS
2018 2019 2020 2021 2022 2023

INTEGRATED (FOOD 7%
LTM

PLATFORM) AND
20%
16% EBITDA AND EBITDA MARGIN1 SHORTENINGS

PRODUCES AND
In PEN million

CAGR 2018-2023: +35.3%

DISTRIBUTES FOOD Edible Oils Ind. Margarines 98
AND HOME CARE
83 IND. MARGARINES
Detergents Others

PRODUCTS Lard 39
28 14
3 14.1% 14.1%
5.3%
0.7% 5.4% 3.8%

2018 2019 2020 2021 2022 2023

LTM

“We continue expanding our direct distribution network and started the local production of
our Pastas category and other key categories in the Home Care platform in order to increase
profitability and local competitiveness.”
– Patricio Jaramillo, VP Consumer Goods 15
1 LTM as of March 2023
ALICORP AT A GLANCE
Consumer Goods Ecuador

MAIN CATEGORIES BREAKDOWN1 REVENUE AND GROSS MARGIN1

% of Sales In PEN million
MAIN CATEGORIES AND BRANDS
CAGR 2018-2023: +31.8%

231
OUR CONSUMER 166 183
219 DETERGENTS

GOODS ECUADOR 25% 140

UNIT IMPORTS FOOD, 38% 58

55.2%
35.5%
36.2% 31.3% 25.3% 22.4%

HOME AND PERSONAL

PASTAS
7% 2018 2019 2020 2021 2022 2023

CARE PRODUCTS 11%

LTM

FROM OUR INSECTICIDES

PRODUCTION
23% EBITDA AND EBITDA MARGIN1
In PEN million

FACILITY IN PERU Detergents Others 20 21

AND NOW IS Pastas SAUCES
9
FOCUSED ON Sauces 7 8
14.3% 12.9%
15.0% 4.0% 3.8% -2.5%
Insecticides
STRENGTHENING THE
GO-TO-MARKET 2018 2019 2020 2021 2022
-6
2023

STRATEGY
LTM

“The role of our go-to-market strategy has allowed us to reach a wide base of customers
this year with a special focus on the traditional channel.”
– Patricio Jaramillo, VP Consumer Goods
16
1 LTM as of March 2023
 ALICORP AT A GLANCE
B2B

HOW B2B ADDS VALUE REVENUE AND GROSS MARGIN1

In PEN million HIGHLIGHTS

GO-TO-MARKET CAGR 2018-2023: +11.2% Production facilities

OUR B2B BUSINESS 2,734 2,695
▪
HAS THREE MAIN
Ample coverage
2,169
▪ Efficient client segmentation Main categories and brands
1,586 1,647 1,518
PLATFORMS: FOOD ▪ Exclusive distributors
Industrial
SERVICE, BAKERY BRANDED B2B
19.6% 21.6% 16.8% 16.1% 15.0% 15.0% Baking Flour

AND INDUSTRIAL ▪ Multi-tier brand positioning

2018 2019 2020 2021 2022 2023
LTM Industrial Oil
CLIENTS ▪ Innovation
EBITDA AND EBITDA MARGIN1
▪ Ad hoc solutions In PEN million Shortenings
▪ Digital solutions
WE CREATE VALUE
CAGR 2018-2023: +6.5%
245 244 Sauces
FOR OUR CLIENTS
216 202
INDUSTRIAL & 178

THROUGH OUR LOGISTIC SCALE

78
Industrial
Margarines
DIGITAL SOLUTIONS 11.2% 13.1% 9.3% 9.0% 9.1%
5.1%

2018 2019 2020 2021 2022 2023

LTM Frozen Products

“Our aspiration is to become our customers’ indispensable partner by identifying

current and future needs and offering comprehensive solutions that help them
prosper.”
– Luis Estrada, VP B2B, Crushing & Commodity Management 17
1 LTM as of March 2023
 ALICORP AT A GLANCE
Aquafeed

GEOGRAPHICAL PRESENCE REVENUE AND GROSS MARGIN1

In USD million

OUR AQUAFEED CAGR 2018-2023: +10.4%

1,017 1,043
BUSINESS PRODUCES 719
635 650
SHRIMP FEED IN 548 HIGHLIGHTS

CHILE, ECUADOR, 21.9% 21.2% 19.2% 15.4% 14.8% 14.3%

Main categories and brands
PERU AND HONDURAS; 2018 2019 2020 2021 2022 2023

AND SALMON FEED IN

LTM
Shrimp Feed

CHILE Production facilities EBITDA AND EBITDA MARGIN1

In USD million Salmon Feed
CAGR 2018-2023: +2.2%

WE SERVE TWO OF 94 95
104 105

THE MOST 58
72

IMPORTANT EXPORT 14.7% 14.6%

10.1% 10.2% 10.0%

INDUSTRIES IN
10.7%

2018 2019 2020 2021 2022 2023

ECUADOR AND CHILE

LTM

“Our commitment with the future of the industry has encouraged us to become the
bridge between our clients and the digital transformation”.
– Hugo Carrillo, General Manager - Vitapro
18
1 LTM as of March 2023
 ALICORP AT A GLANCE
Crushing2

VOLUME SOLD1 REVENUE1

In thousands of MT In USD million
1,081 1,045
OUR CRUSHING -3.0% 813 237 242
BUSINESS PRODUCES
HIGHLIGHTS
204
1,362 1,322 496 Production facilities
1,293
SUNFLOWER SEED 308 304 304 -0.1%
128
368
609
844 803
Main exports
OILS AND SOYBEAN 2020 2021 2022 2023 LTM

OILS AND MEAL TO 985 1,058 1,018 -3.8%

SERVE THIRD PARTY 2021 2022 2023 LTM

Main categories and products

LOCAL AND EXPORT Internal Consumption Third Parties (reported)

EBITDA AND EBITDA
In USD million
MARGIN1
▪ Soybean: Crude oil, solvent-extracted
and full-fat flour
CUSTOMERS AND FOR The Bolivian market structure requires
119
▪ Sunflower seed: Crude oil and flour

INTERNAL vertical integration to ensure access to

91 ▪ Agricultural solutions: Phytosanitary
82 products, fertilizers and seeds
grains supply. This results in a natural
CONSUMPTION hedge of raw materials for the CG Bolivia
business.
24

2020 2021 2022 2023 LTM

“Our crushing business gives us value added vertical integration in the oils and fats
segment in Bolivia, as well as diversification being countercyclical to the Consumer
Goods business ”
– Luis Estrada, VP B2B, Commodities Management & Crushing
19
1 LTM as of March 2023
2 Internal consumption is mainly allocated to Consumer Goods Bolivia and Aquafeed. Sale to third parties are the only considered in the Consolidated Financial Statements
CORPORATE
STRATEGY
CORPORATE STRATEGY
Alicorp’s updated strategic framework

WINNING ASPIRATION
We feed a better tomorrow with relevant value propositions for each of our consumers
and clients in the Andean Region, transforming markets with our leading brands,
ability to innovate, efficient management and the talent of our people.

OUR SCALE, LOCAL

EXPERIENCE AND WORLD- HOW TO WIN?
WHERE TO PLAY?
CLASS CAPABILITIES
ALLOW US TO FULFILL OUR
WINNING ASPIRATION
Differentiated products,
brands and services
THROUGH VERY CLEAR through a multi-tier strategy

COMPETITIVE
ADVANTAGES Excellence in
productivity

Flexible
supply chain
21
CORPORATE STRATEGY
Alicorp’s updated strategic framework

CAPABILITIES

WE CAREFULLY
Innovation Digital Our people Portfolio
management
Technology &
processes
Sustainability
PRIORITIZE INITIATIVES
AND MANAGE
KEY INITIATIVES & STRATEGIC PROJECTS RESOURCES FOCUSING
ON RETURN ON
CG PERU CG INTERNATIONAL B2B INVESTED CAPITAL,
→ Grow Personal & Household
care
→ Strengthen home care
categories
→ Digital solutions
→ New segments and categories
Innovation VALUE CREATION AND
→ Digital & Innovation → Local production for costs
competitiveness
→ Cleaning business FUTURE GROWTH
→ Go-to-market upgrade → Go-to-market upgrade
→ Go-to-market

AQUAFEED CRUSHING Digital

→ Productive capacity
→ Efficiencies program
→ Digital transformation
Transformation
→ Maximize profitability and
focus on cash flow generation
→ Explore less commoditized
revenue streams

Efficiencies 22
 CORPORATE STRATEGY
Key Indicators

We continue to develop our

Revenue (PEN MM) EBITDA (PEN MM) innovation and digital
+65% +29% initiatives:
ALICORP DELIVERS 15,406 15,387 1,622
REMARKABLE RESULTS 12,216 1,277 1,317
1,440 → Amarás
Almost 10% share of volume
1,119
DESPITE THE 8,289
9,872 9,348 1,022 in supermarkets

CHALLENGING → Insuma
4,109 active clients1
CONTEXT, REACHING (+81% vs 2021)

HISTORIC TOP LINE

2018 2019 2020 2021 2022 2023 2018 2019 2020 2021 2022 2023
LTM LTM
→ DiaDia
3,528 active Mom&Pops
LEVELS AS WELL AS (+60% vs 2021)

PROFITABILITY SG&A/Revenue (%)

SG&A/Gross Profit (%) → Vitapro Ventures
2,000 incremental hectares of
digital services
OUR EFFORTS ARE 15.4 14.7 15.0 62.3 59.3
63.2 63.2
56.4 60.1

FOCUSED ON
12.4
10.1 10.3 Alongside efficiency efforts:
CONTINUOUS VALUE → SKU rationalization
GENERATION FOR OUR → Design to value
STAKEHOLDERS 2018 2019 2020 2021 2022 2023
LTM
2018 2019 2020 2021 2022 2023
LTM
→ Revenue management

23
1 Restaurants and bakeries
CORPORATE STRATEGY
Innovation: a new brand promise

AMARÁS, UNIQUE AS YOUR HAIR AND PERU First remarkable results:

▪ Market share target for 2024 already
met at 3.5%1
WHO: Young Peruvians who are tired of purchasing traditional
supermarket brands ▪ Almost 10% of volume market share
in the hair care category after first
WHAT: “Affordable Beauty” Upper tier product performance with a month in modern channel
local beauty brand positioning
▪ 21.2k Instagram followers and 51.2K
HOW: a full range of hair products beyond shampoo, aimed at TikTok followers in less than 3
increasing in post-shampoo penetration to boost final delivery months
▪ +85% positive sentiment in Meta
and TikTok
MARKETING CAMPAIGN:
▪ “Viral TikTok shampoo”: +300 organic
Start of 360 marketing campaign in October 2022 videos with positive reviews
generating +7.2MM views
Highest advertising investment in hair care Q4 ‘22 ▪ 15% engagement rate

Trial and brand experience maximized with product “POP UPs” DESIGNED FOR LOCAL
CONSUMERS

MARKETING RECEPTION: WE USE PERUVIAN NATURAL

INGREDIENTS
Traditional Trade: 85K POS covered during 1st month
ACCESIBLE PREMIUM HAIR
Modern Trade: 100% POS covered in the first month with good SOS
visibility
CARE BRAND

1 Households market 24
CORPORATE STRATEGY
Digital Initiatives

INTERNET OF THINGS AND ANALYTICS ECOSYSTEM TO IMPROVE PRODUCTIVITY IN VITAPRO’S CLIENTS

Our solution introduces Internet of
Things, data and analytics
infrastructure to shrimp pool
management to improve efficiency
OUR PURPOSE IS TO and effectiveness of shrimp feeding
TRANSFORM THE process
INDUSTRY AND ➢ Oxygen and temperature sensors across shrimp
GENERATE farms

SUBSTANTIAL ➢ Cloud based data lake to store dynamic data with

IMPROVEMENT IN Machine learning models that estimate shrimp
growth and determine feed volume
PRODUCTIVITY AND
PROFITABILITY ➢ Automatic feeders powered by solar panels with
releases based on AA model

➢ Hydrophone monitors shrimp`s sounds and

optimize feeding through automatic feeders

➢ 24/7 Technical Support

25
SOLID LIQUIDITY AND
STRONG BALANCE SHEET
SOLID LIQUIDITY AND STRONG BALANCE SHEET
Leverage and credit rating

MATURITY PROFILE AS OF MARCH 20231

PEN million

CONSERVATIVE DEBT TOTAL CASH

1,210 1,202 1,133

MANAGEMENT WITH
825 855 854
492
PEN 1,210 million 860 148 143
448
INVESTMENT GRADE
506
655 663 609 158
234 256 216

RATINGS DEBT COVERAGE1,2

Total Cash 1 year 2 years 3 years 4 years 5 years + 6 years

Leases (IFRS 16) Bonds Long Term Bank Debt Short Term Bank Debt
1.38x over next 12 months
IN Q1 ‘23 WE ISSUED A 0.82x over next 24 months
PROMISSORY NOTE CREDIT RATING AS OF Q1 ‘23

FOR USD 14MM IN THE ACCESS TO FUNDING Global Local 3

PRIVATE CAPITAL PEN 5.9 billion of available
MARKET OF BOLIVIA uncommitted credit lines
PEN 452 million of available
committed credit lines BBB / Stable = AAA / CP1+ / Stable = AAA / ML1+ = BAA =
Alicorp Alicorp Industrias de
S.A.A. S.A.A. Aceite S.A.

AA =

1
Baa3 / Negative = Industrias de
Principal only Aceite S.A.
2 Includes committed credit lines. Excluding this lines, the ratios would be 1.01x over the next 12 months and 0.60x over the next 24 months
3 PCR rates Alicorp Bolivia’s local bonds only
27
SOLID LIQUIDITY AND STRONG BALANCE SHEET
Leverage
INDEBTEDNESS EVOLUTION
Net Debt / EBITDA1
PEN million

8,000 4
7,000 3.0x 2.9x
2.6x 2.5x 2.5x 3
6,000
WE MANAGED TO 5,000
4,000 3,641
4,590
3,974 4,033 4,107 2

PARTIALLY OFFSET OUR 3,000 1

2,000
LOWER EBITDA 1,000
-

GENERATION WITH
- -1
Q1 '22 Q2 '22 Q3 '22 Q4 '22 Q1 '23

SEVERAL WORKING Net Debt Net Debt/EBITDA

CAPITAL INITIATIVES
CRUSHING BUSINESS NET DEBT2 AND READILY MARKETABLE INVENTORY (RMI)3
PEN million

AS A RESULT, LEVERAGE
INCREASED ONLY BY 1,260
1,675 1,590
1,436 1,402
0.3X SINCE Q1 ‘22 929
1,093
830
515 610

Q1 '22 Q2 '22 Q3 '22 Q4 '22 Q1 '23

Crushing Business Net Debt RMI

1 Principal of debt only less cash and cash equivalents

2 Includes intercompany loans
3 RMI: refers to the soybean and sunflower seeds stored within our facilities in our Bolivian operation, which are easy to convert into cash due to their commodity characteristics
28
SOLID LIQUIDITY AND STRONG BALANCE SHEET
Working capital – Cash conversion cycle (CCC)

WORKING CAPITAL1,2
Days

THE INCREASE IN DAYS OF 130 133

127
INVENTORY AND 124 124
Accounts Payable 3

RECEIVABLES WAS
PARTIALLY OFSSET BY 107 107 109 110 112 Inventories
SEVERAL WORKING
CAPITAL INITIATIVES
THAT MAINTAIN OUR
CASH CONVERSION 33 32 32 32 35
Accounts Receivable
CYCLE BELOW THE LEVELS
RECORDED IN Q1 ‘22
Q1’22 Q2’22 Q3’22 Q4’22 Q1’23

CCC 16.0 15.0 14.0 12.0 14.0

1 Days of working capital calculated for the last twelve months

2 Excludes discontinued operations
3 Includes our pre-export contracts
29
SOLID LIQUIDITY AND STRONG BALANCE SHEET
Debt Breakdown

TOTAL DEBT1 DEC ‘21 DEC ‘22 MAR ‘23

S/ 5,245MM S/ 4,973MM S/ 5,317MM

7.5%
32.9% 31.5%
7.2%
International Bonds 6.3%
By Source1

Local Bonds 34.3%

30.7%
Working Capital Debt 2.9% 16.0%
LT Bank Debt 26.5%
32.7%
Leases (IFRS 16)
5.3% 24.3%
22.2% 19.7%

15.0% 22.0%
23.7%
0.2% 0.2%
By Currency2,3

USD
PEN 0.2%
23.0%
BOB 24.1% 45.9%
Others 53.7%
61.8% 30.2%

1 Principalof debt before FX hedging 30

2 Principalof debt after FX hedging
3 Most of our USD denominated debt is booked in subsidiaries that has USD as functional currency
SOLID LIQUIDITY AND STRONG BALANCE SHEET
Dividend Payment Evolution

714
Dividend Paid (PEN million)
Dividend per share (PEN) 214 214 209
205 205
0.84
0.28
162
145 0.24 0.24 0.25 0.25

120
110 0.19 103 103
0.17
0.13 0.14
0.12 0.12
46

0.05

2010 2011 2012 2013 2014 2016 2017 2018 2019 2020 2021 1 2022 2023

2
Dividend Yield 4.8% 3.4% 2.8% 1.2% 1.4% 0.8% 1.8% 2.0% 2.3% 3.3% 16.0% 5.0% 4.5%
3
Payout Ratio 50% 51% 49% 29% 32% 29% 40% 46% 46% 44% 216% 52% 39%
2

For more information about our dividend policy, please visit:

Politica-de-Dividendos.pdf (alicorp.com.pe)

1
31
2021: In addition to the first dividend payment approved during our shareholders meeting of PEN 0.25 per share, an extraordinary dividend of PEN 0.585 per share was paid in the 3Q21
2 Dividend yield computed for common stocks: ALICORC1. Stock price as of dividend payment date
3 Considering Net Income from Continuing Operations
APPENDIX
ALICORP AT A GLANCE
Alicorp is the undisputed leader in its core markets

RANKED #1 FOR MAIN CATEGORIES

Business Category Brands Rank % of sales1 Competitors

Laundry Detergents #1 6.7%

Edible Oils #1 5.8%

Consumer Goods Peru
Pasta #1 3.6%

Cookies & Crackers #1 2.3%

Industrial Baking Flour #1 6.6%

B2B Industrial Oil #1 5.2%

Shortenings #1 1.6%

Edible Oils (Bolivia) #1 1.6%

Consumer Goods Laundry Soap (Bolivia) #1 0.9%
International
Sauces (Ecuador) #2 0.2%

Shrimp feed (Ecuador) #2 16.0%

Aquafeed Fish feed (Chile) #4 7.8%

Fish feed (Peru) #1 0.6%

Crushing Soybean & Sunflower: meals & oils #1 19.6%

Source: Kantar World Panel (Consumer Goods Peru and B2B) / Nielsen NRI (Consumer Goods International) / Internal Estimates (Aquafeed)
1 Based on consolidated Revenue LTM as of March 2023.
33
ALICORP AT A GLANCE
Leveraging our distribution model

CONSUMER GOODS PERU: GO-TO-MARKET MODEL1 STRONG PRESENCE OF ALICORP’S PRODUCTS IN PERUVIAN HOUSEHOLDS4,5,6
(As % of household presence)

32%

TRADITIONAL CHANNEL
Exclusive Laundry Detergents 84
distributors 22

11% Pasta 77
Wholesalers 35

SHOPPER
34%
ALICORP

Edible Oils 64
Non-Exclusive 23
distributors

Laundry Soap 67
11
Supermarkets2
23%
MODERN

Stores
Mayonnaise 51
4
Other Store Formats3
Margarines 49
17

Direct distribution Alicorp Competitor

Indirect distribution

1 Data FY 2021.
2 Includes Cash & Carriers.
3 Includes Convenience Stores.
4 Data as of June 2022. 34
5 As measured by market penetration in each category against Alicorp’s closest competitor in Lima and other major cities in Peru.
6 Source: Kantar World Panel.
APPENDIX
Q1 ’23 Milestones

PRODUCT RESEARCH & DEVELOPMENT AWARDS & RECOGNITION

PATITO AVAL
launched of Baby launched new
& Kids Detergent presentations in Peru
and Softener
Portfolio in Bolivia

Javier Rota, our country manager in Through “Ollas Que Desarrollan” we joined the
Bolivia, was recognized in the eight “Manka Kusi” program to bring food to more than
ÁNGEL edition of “The Big Ones 2023” 5,635 Peruvians in Manchay
PRIMOR
launched of new launched a version
fruit-based cereal of tuna in salt and
flavors in Peru water in Peru

ALPESA BOLIVAR
Launched of new relaunched of the
flavors in sachet brand in Bolivia
presentations in
Peru
We certified our Anti-Bribery Management
Our company was part of TOP 10 of
System under ISO 37001, granted by AENOR
the “Merco ESG” ranking

35
 Álvaro Rojas Miro Quesada
Investor Relations Officer
InvestorRelations@alicorp.com.pe
www.alicorp.com.pe

This presentation and further detailed information can be found in the following link in our section
“Investor Services”: https://inversionistas.alicorp.com.pe/alicorp-ir/public/investor-services/investor-kit.html