Ginegar Plastic Products Ltd.

Investor Presentation • Jun 4, 2023

TLV : GNGR Investor Presentation

Disclaimer

The information included in this presentation is a summary only and does not exhaust all of the information on Ginegar Plastic Products Ltd. and its subsidiaries ("the Company") and its business, nor is it a substitute for inspection of the Company's periodic reports, quarterly reports, immediate reports, as reported to the Israel Securities Authority via the Magna distribution site, including the Company's 2022 periodic report filed with Magna on March 30, 2023. This presentation does not constitute an offering or an invitation to purchase securities of the Company, and the provisions thereof do not constitute a recommendation or opinion or substitute for the discretion of the investor.

This presentation includes forecasts, estimates, assessments and other information pertaining to future events and/or matters, whose materialization is uncertain and is beyond the Company's control, and which constitute forward-looking information, as defined in the Israeli Securities Law, 5728-1968. Such information may not materialize, in whole or in part, or may materialize in a manner significantly different to that forecast. Such information includes, inter alia, statements relating to the Company's objectives, plans, and strategies; statements that contain projections of results of operations or of financial condition; statements relating to the research, development, and use of the Company's technologies, products and product candidates; and all statements (other than statements of historical facts) that address activities, events, or developments that the Company intends, expects, projects, believes, or anticipates will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. These statements are only current predictions and are subject to known and unknown risks, uncertainties, and other factors that may cause the Company or the Company's industry actual results, levels of activity performance, or achievements to be materially different from those anticipated by the forward-looking statements.

Important factors that could cause actual results, developments, and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things: the overall global economic environment; the impact of competition and new technologies; general market, political, and economic conditions in the countries in which the Company operates; projected capital expenditures and liquidity; changes in our strategy; government regulations and approvals; litigation and regulatory proceedings. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by law, the Company is under no duty to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this presentation. The information included in this presentation is similar to the information included in the periodic, quarterly and/or immediate reports of the Company and does not include new material information. However, some of the data included in the presentation are presented in a different manner and/or breakdown and/or are differently edited. In any event of inconsistency between the periodic, quarterly and/or immediate reports of the Company released to the public and the information contained in this presentation, the information released to the public as aforesaid shall prevail.

Ginegar at A Glance

Ginegar is a leading producer of smart covers, offering a broad product portfolio and customized solutions suited to advanced agriculture and technical films used for a multitude of applications. Over half a century, Ginegar has earned a solid reputation, showing consistent growth from year to year.

* Morocco site - Subject to completion of an agreement entered into with a third party

Company Milestones

business & Polysack S.A., Establishment of Ginegar Do Brasil

* Morocco - Subject to completion of an agreement entered into with a third party

Global Presence

Operating in over 60 countries worldwide

Years of Proven Results 2018-2022*

* The 2022 results were affected by the general economic situation worldwide (RM prices, shipping costs) and as such do not represent a typical year of operation.

** 2022 EBITDA - Operating profit before other expenses, plus: depreciation and amortization, value of share-based compensation for employees, costs of subsidiaries' purchase examination, and operational costs accounted for closure of Neot Mordechai manufacturing site during the period following the sale of its machinery and equipment.

Revenues

Per business sector (M ILS)

Agricultural Covers Technical Films

Two Key Business Sectors

Advanced Agriculture

Technical Solutions

Agricultural Smart Cover Solutions

Global Agricultural Demand for Films

Estimated at 15 Billion USD*

Avg price: 2.5 USD x estimated weight per kg.

Global Agricultural Demand for Films

Decrease in available agricultural land

Increased demand for food

Rise in demand for intensive agriculture

Increasing demand for agricultural films that • improve yields, use resources more effectively, reduce risk and crop damages

Pipe Relining

Composite Film Solutions

Serving specialized distributors in each segment

Advanced Composites on the Rise

Serving OEMs, distributors and end users in various industries

What is a composite material?

A solid material, which is the result of two or more different substances, each with its own characteristics, combined to create a new substance whose properties are superior to those of the original components.

Composite materials are the ultimate designer's material, and as such one of the fastest growing sectors in the industry. Used in a wide range of products and applications advanced composites have:

• Superior strength to weight ratio
• Strong and enduring material
• Reduce waste in production
• Resistant to corrosion
• Can be molded into complex shapes

High performance vacuum bags for composite materials

Ginegar offers new generation, high performance, vacuum bagging that is required for the production process of composites.

The opportunity

A qualified supplier, with global reach, recognized for its uncompromising quality and standards, Ginegar - Flextech Srl. is an expert in the production of vacuum bagging films for large blades for both offshore and onshore energy fields.

Construction Protective Covers

Vacuum Bagging Film for Glass Lamination

Technical Film Solutions

Serving the automotive, maritime, aerospace,

Sealing & Infrastructure Films

VCI Anticorrosive Films for Transport & Storage

building & electronics industries Antistatic Films & Cleanroom Packaging

Food Packaging

At The Forefront of Manufacturing Technology

Firmly focused on our customers, we aim to develop products and solutions that answer their needs, solve their challenges and have minimal impact on the environment.

From product development and processing methods, to manufacturing practices, and the implementation of new materials and formulations, we rely on the experience and professionalism of our in-house scientists, engineers, and technicians, and encourage creativity among our team. Our strong relationships with universities, start-up hubs and technological incubators ensure that we are always at the forefront of industry innovation.

Technical features include: Heat stabilizers | Flame retardants | Moisture barrier | Ability to use nylon

Ginegar-Flextech Srl. uses 9-layer technology to extrude very wide films and welding technology to produce films that span 48m/157feet.

Using large extruders enables the production of wide-diameter, high performance barrier films requiring pinhole resistance and immense mechanical strength.

Always Innovating

• New applications Expand offering of current products
• New product development Customized solutions to meet evolving market needs
• Current product improvements More value to customers (improved optical properties, longer lasting films, and more)
• New manufacturing technology & improvements Efficiency & expansion

(seeking new ways to be more competitive for our customers)

Focus on Sustainability

Producers of compostable & recyclable polymers

Agri-additives or raw materials to be incorporated into our film

What we seek when choosing our partners for collaborative JVs in R&D projects

Advanced Agriculture Covers | 19

Sustainability

Current Activities

In our products:

• Our films for composites have many positive environmental impacts: reduction of fuels, gas emissions and material waste.
• We have developed compostable and biodegradable mulch films for sustainable agriculture.
• Our agricultural smart covers:
  • Reduce the need for pesticides and herbicides.
  • Enable a more efficient use of land for intensive agriculture.
  • Reduce water and energy consumption in greenhouses, tunnels and orchards.

In our operations:

• We recycle all of our film waste in-house.
• Our plant in Italy is powered by solar energy.

Financial Parameters (M ILS)

	2020	2021	2022*
Sales	541.8	620.6	627.8
Operating Profit/Lost	40.5	38.2	10.1
%	7.5%	6.2%	-1.6%
EBITDA	72.8	70.3	29.9
%	13.5%	11.3%	4.7%
Net Profit	24.3	22.6	)18.2(
Equity	237.2	243.0	216.8
Net Bank Debts	47.4	81.5	140.1
Dividend	15	15	0

* The 2022 results were affected by the general economic situation worldwide (RM prices ,shipping costs) and as such do not represent a typical year of operation

Financial Parameters (M ILS)

	31.12.2019	31.12.2020	31.12.2021	31.12.2022*
Net Debt	140.4	47.4	81.5	140.1
Equity	220.9	237.2 243.0		216.8
Assets	606.7	606.6	671.9	667.6
EBITDA LTM	64.6	72.8 70.3		29.9
Net Debt / EBITDA	2.31x	0.65x	1.16x	4.69x
Equity Rate	36.4%	39.1%	36.1%	32.5%

* The 2022 results were affected by the general economic situation worldwide (RM prices ,shipping costs) and as such do not represent a typical year of operation

Financial Parameters (M ILS)

	2021			2022*			2023*
	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1
Sales	142,622	166,066	166,123	145,823	160,272	183,126	157,423	127,009	127,959
Gross Profit	29,379	36,162	34,661	25,776	27,737	32,410	19,070	8,222	15,785
%	20.6%	25.4%	24.3%	18.1%	19.4%	22.7%	13.4%	5.8%	11.1%
Operating Profit	9,424	13,119	12,019	3,997	5,736	4,252	-2,587	-12,759	-4,586
%	6.6%	9.2%	8.4%	2.8%	4.0%	3.0%	-1.8%	-8.9%	-3.2%
Net Profit	4,968	10,280	6,575	85	4,859	1,895	-11,591	-13,939	-9,146
EBITDA	17,554	21,423	19,955	11,753	13,683	12,796	5,793	-2,416	2,635
%	12.3%	15.0%	14.0%	8.2%	9.6%	9.0%	4.1%	-1.7%	1.8%

* The 2022 results were affected by the general economic situation worldwide (RM prices ,shipping costs) and as such do not represent a typical year of operation

info@ginegar.com | www.ginegar.com