Turpaz Industries Ltd.

Investor Presentation • May 21, 2025

Investor Presentation

May 2025

Disclaimer

This presentation was prepared by Turpaz Industries Ltd. (the "Company") for the sole purpose of conveying information regarding the Company and its subsidiaries (together with the Company "Turpaz Group"). This presentation does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase any securities of the Company and is intended to provide information only. This presentation is not intended to replace the need to review the Company's full reports to the Securities Authority and the Tel Aviv Stock Exchange Ltd. including, inter alia, the Company's periodic and immediate reports (hereinafter: "Company Reports") prior to making a decision regarding investment in the Company's securities.

In addition, this presentation cannot replace investment consulting by a lawfully licensed investment consultant.

This presentation includes statements data, forecasts, goals and Company plans that are "forward-looking statements", as defined in the Securities Law - 1968, whose occurrence is not certain, and which are not solely in the Company's control.

These forward-looking statements are included, inter alia, in discussions of strategy, objectives, goals, plans, events, future intentions or other information relating to future events or issues whose occurrence is not certain.

By their nature, forward-looking statements involve risk and uncertainty. Whether the forward-looking information occurs or not is affected, inter alia, by risk factors characteristic to the Company's operations and developments in the general environment and external factors which impact the Turpaz Group and its area of activities.

Subject to the requirements of applicable law, the Company does not intend to update any industry information or forward-looking statements appearing in this presentation and is not required to publish any additional presentations for its shareholders in future.

Q1 2025 Highlights (US \$)

Record Sales	Strong Organic	Adj. EBITDA / Margin
\$ 60.4M	9.1%	\$ 13.6M / 22.6%
+54.7%	Growth	+62.7%
Cash Flow from Operations \$ 7.6M	Gross Profit / Margin \$ 23.5M / 39.0% +63.4%

Double Digit Growth Q1 2021 - 2025

Sales, EBIT and Adj. EBITDA (M US \$):

Turpaz Global Market Presence

Sales by region Q1 2025 (M US \$):

Q1 2025 Turpaz – Consolidated

In K US \$ / %	Q1 2024	Q1 2025
Sales	39,016	+54.7% 60,359
Gross Profit	14,396 36.9%	23,519 39.0%
Operating Profit	5,453 14.0%	9,634 16.0%
Adjusted EBITDA	8,371 21.5%	13,615 22.6%
Net-Profit	3,308 8.5%	5,410 9.0%
Net-Profit Non-GAAP	4,858 12.5%	7,877 13.1%

Q1 2025 Taste
In K US \$ / %	Q1 2025 Q1 2024
Sales % of group sales	+77.0% 24,570 43,501 72.1% 63%
Operating profit	8,158 4,369 18.8% 17.8%
Organic	+6.2%
Acquisitions	Sunspray, Clarys & Willich, F&E, Schumann, AFS, Doucy
Highlights	Increase in sales and profitability stems from acquisitions, organic growth & synergies

Q1 2025 Fragrance

In K US \$ / %	Q1 2025 Q1 2024
Sales % of group sales	+3.6% 9,122 8,808 22.6% 15.1%
Operating Profit	2,666 2,581 29.2% 29.3%
Organic	+3.9%
Highlights	Increase in sales & profit stems from organic growth

Q1 2025 Specialty Fine Ingredients

In K US \$ / %	Q1 2025 Q1 2024
Sales % of group sales	+37.1% 7,736 5,641 12.8% 14.4%
Operating Profit	210 1,014 3.7% 13.1%
Organic	+38.2%
Highlights	Increase in sales and profitability stems from successful actions to streamline the product portfolio, with a focus on citrus and aroma chemicals for the F&F industry, alongside a positive trend of customers returning to purchase from Chemada, after temporarily switching to alternative suppliers during the Iron Swords war

P&L – Significant Growth

K US \$	2024	Q1 2024	Q1 2025
Revenues	188,948	39,016	60,359
Gross Profit	73,659	14,396	23,519
Gross Profit %	39.0%	36.9%	39.0%
R&D Expenses	7,034	1,407	2,170
Sales & Marketing Expenses	16,273	2,913	5,563
Management & General Expenses	22,124	4,330	6,521
Equity (Gain) Loss	(36)	-	(369)
Other Expenses (Income)	532	293	-
Operating Profit	27,732	5,453	9,634
Operating Profit %	14.7%	14.0%	16.0%
Net Profit	15,745	3,308	5,410
Profit from discontinued operations	165	-	-
Total Net Profit	15,910	3,308	5,410
Net Profit – Non GAAP	23,317	4,858	7,877
EBITDA	41,599	8,065	13,615
Adjusted EBITDA (*)	42,975	8,371	13,615
Adjusted EBITDA %	22.7%	21.5%	22.6%
Cash flow from operations	21,116	3,550	7,564

Balance Sheet

13

K US \$	31.12.2024	31.03.2024	31.03.2025
Assets
Current Assets	123,719	109,268	126,785
Non-Current Assets	267,031	177,045	303,137
Total Assets	390,750	286,313	429,922
Liabilities & Equity
Current Liabilities	70,136	46,421	80,311
Non-Current Liabilities	176,368	124,825	196,261
Equity	144,246	115,067	153,350
Total Liabilities and Equity	390,750	286,313	429,922
Ratios
Working Capital to Sales	27.2%	27.3%	28.4%
Cash and Cash Equivalent	25,926	42,937	31,470
Net Debts(*)	75,992	10,625	88,332
Equity to total balance sheet	36.9%	40.2%	35.7%
Net Debt to EBITDA(**)	1.6	0.3	1.7

(*) Debts = Short and long-term loans from banks and other. (**) on Proforma basis.

Thank You