Papoutsanis S.A.

Investor Presentation • Mar 27, 2025

2024 Financial Results

Analysts' Briefing

March 27th, 2025

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This presentation has been prepared by Papoutsanis S.A. (the Company) solely for informational purposes and cannot be used for any other purpose nor can it be addressed to any other person. This presentation has not been independently verified. The Company does not undertake to update this presentation or the information included herein. As such, this presentation and the information included herein remains subject to any future corporate presentation or announcement issued by the Company in accordance with the law.

2015- 31/12/2024, or other financial information based solely on Company's management's accounts and estimates. Any such financial information, No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein and nothing in this presentation is, or shall be relied upon as, a promise or representation. None of the Company nor any of its affiliates, nor their respective employees, officers, directors, advisers, representatives or agents shall have any liability whatsoever (in negligence or otherwise, whether direct or indirect, in contract, tort or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. The information and opinions in this presentation are provided as at the date hereof and subject to change without notice. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company's financial or trading position or prospects. This presentation does not constitute investment, legal, accounting, regulatory, taxation or other advice and does not take into account your investment objectives on the basis of any information included in this presentation.

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Financials contained in this presentation are either historical financial information that are extracted from the Audited Financial Statements for the periods including certain information regarding the businesses and the assets of the Company, have not been audited, reviewed or verified by the Company's statutory auditor or any other independent auditing or accounting firm. As such, one should not place undue reliance on such information. The inclusion of such financial information in this presentation should not be regarded as a representation or warranty by the Company, its affiliates, advisors or representatives or any other person as to the accuracy or completeness of such information's portrayal of the financial condition or results of operations by the Company and should not be relied upon in the context of any investment decision.

2024 Financials in sum

Improvement in all Profitability KPIs

Analysts' Annual Briefing, Mar 2025

Four Pillars for Growth

Own Brands

30% of turnover (vs 27% in '23)

Hotel Amenities

17% of turnover (vs 17% in '23)

3rd Party & PL 36% of turnover (vs 40% in '23)

Specialty Bases

17% of turnover (vs 16% in '23)

FY 2024 4

Overall increase +6,3% vs 2023

Financial Results (in €'000)

Financial Results	(in €'000)
	2024	2023	D%
Net Sales	66.200	62.275	6%
Gross Profit Gross Profit margin	24.690 37,3%	21.239 34,1%	16%
Earnings before Taxes, Interest & Depreciation
(EBITDA) EBITDA margin	10.587 16,0%	9.217 14,8%	15%
Earnings before Tax (EBT) EBT margin	6.052 9,1%	5.035 8,1%	20%	Cost
Earnings after Tax (EAT) EAT margin	5.274 8,0%	4.081 6,6%	29%
Earnings per share	0,1962	0,1513	30%

2023	D%
62.275	6%
21.239	16%
34,1%
9.217	15%
14,8%
5.035	20%
8,1%
4.081	29%
6,6%
0,1513	30%

• ∙ Gross Profit improvement attributed to increased Own Retail Brands Cost
• significant growth of the Branded Segment
• the form of tax exemptions, led to reduced tax rate

• historically high
• ∙ Gross Profit & GP margin ∙ GP% improvement attributed to increased contribution of Own Retail Brands & Production Cost decrease
• ∙ EBITDA displays highest performance in absolute & strong improvement in margin % 15% 16%

12M Review by Business Segment (in €'000)

		(in €'000)
SALES	EBITDA	EBITDA %
19.799 17%	1.941 492	10% +124 bps
11.276 4%	2.462 221	22% +126 bps
23.822	3.525	15%	∙ Specialty Bases leading in EBITDA% and margin improvement vs 12M '23.
11.303	2.659	24%
66.200 6%	10.587 1.370	16% +120 bps
	-3% 14%	-62 720	12M Review by Business Segment +16 bps +402 bps

• ∙ Specialty Bases leading in EBITDA% and margin improvement vs 12M '23.
• ∙ Own Retail Brands performance back on track in 2nd half, after a demanding start of the year the year with EBITDA improvement

Statement of Financial Position (in €'000)

Statement of Financial Position ASSETS	31.12.2024	(in €'000) 31.12.2023
Non Current Assets Current Assets	55.384 25.954	52.670 22.656
Total Assets	81.338	75.326	KPIs:
EQUITY	31.633	29.802	(+4M vs '23)
LIABILITIES
Long-term Liabilities	28.341	26.638
Short-term Liabilities	21.364	18.886
Total Liabilities	49.705	45.524
Total Equity & Liabilities	81.338	75.326	(+0,8M vs 23)

Proposed Dividend 0.03 eur,

gross amount per share, payable in May and subject to approval by the Annual Shareholder's Meeting, resulting to a total Dividend for 2024 at 0,06 eur per share (+0,1 vs '23) (+0,1 vs'23)

KPIs:

• o Net Bank Debt: 22,2M (+4M vs '23)
• o Net Bank Debt/ EBITDA ratio: 2,1
• o Debt to Equity ratio: 1,6
• o Working Capital: 4,6M (+0,8M vs 23)

Cash flow Statement (in €'000)

Cash flow Statement (in €'000)
	2023
4.691	5.277 -4.531
	-6.770
-803	-6.024
5.703	11.727
4.900	5.703
	2024 -6.397 902

period	5.703	11.727

Cash & cash equivalents at

2024	2023
		Days of:	2024	2023
		Inventory Coverage	98	84
		Sales Outstanding	40	25
		Payables Outstanding	108	100

12M Prospects Overview ∙ Materials & Energy pricing ∙ EUDR

A Challenging Macro Environment

Global Upheaval (War in Ukraine & the Middle East, Global import duties volatility)

Stubborn Inflation & Persistent Pressures in Consumer Buying Power

Volatility and Uncertainty

Papoutsanis Strengths & Opportunities

Competitive Production cost and efficiencies

Entry in new categories (Homecare) and Markets (exports expansion)

Sustainability Focus (certified soap bases, syndets, own brands pipeline)

Hotel & Tourism Upside

EURIBOR

Analysts' Annual Briefing, Mar 2025 12

2024 Highlights

Sustainability

Silver award Great Place to

People Plant Investment

Work Certified Solar Panels Installed

30% reduction in Electricity Cost for 2025

& Commissioned +17% in Net Sales led by Home Care &

Own Brands New Partnership

Exports Initiated in Q2 2024, full development in 2025

2025 Projection • Exports – market expansion • New customers, expansion of current partnerships Improved profitability Capex €4,5-5M

• Double Digit Turnover Growth vs 2024
• Own Retail Brands
• Actively looking for new acquisitions

Q&A session

Happy to answer any questions you may have