Turpaz Industries Ltd.

Investor Presentation • Nov 20, 2022

INVESTOR PRESENTATION

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November 2022

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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. (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.

9M YTD 2022 HIGHLIGHTS (M US \$)

Sales \$ 88.1M	Gross profit \$ 34.3M	Adjusted EBITDA \$ 20.3M
+ 53.7% Sales growth + 14.7% Organic growth	+49.0%	+42.7%
Enhanced and expanded global management to support global growth strategy	Solid balance sheet, funding availability and acquisitions strategy	8 acquisitions from IPO (May 21) – 5 in 2022

Turpaz implemented a strategy of rapid double-digit growth, combining organic growth with synergistic and strategic acquisition while leveraging the synergies

9M YTD 2022 DOUBLE DIGIT GROWTH –

4 (*) based on the company's internal reporting

(**) Adj EBITDA - earnings before interest, taxes, depreciation, and amortization neutralization of one-time expenses of acquisitions and structural change.

Q3 2022 TURPAZ – CONSOLIDATED

In M US \$ / %	Q3 2021	Q3 2022
Sales	17.8	30.3
Gross profit	7.2 40.7%	12.0 39.4%
Operating profit	3.4 19.2%	5 16.5% (*)
Adj. EBITDA	4.4	7.0

(*) Decrease in operating margin due to:

(1) Amortization of intangible assets

(2) Option share-based payment

(3) Recruitment of management teams and strengthening of the company's managerial infrastructure

In M US \$ / %	Q3 2021	Q3 2022
Sales	5.1	6.7
Operating profit	1.9	2.1
	37.1%	31.8%

Organic growth +13.8%

Highlights Strong organic growth

LORI profitability is lower than segment profitably. LORI has begun a program to improve its operational efficiency. Improved profitability is expected within the following quarters.

In M US \$ / %	Q3 2021	Q3 2022
Sales	5.1	15.1
Operating profit	0.2 4.8%	2.2 14.3%

Organic growth

Highlights

+32.8%

Strong organic growth Profitably increased due to acquired companies' profitability and improvement of SDA's product lines & operational efficiency.

Q3 2022 PHARMA INTERMEDIATES P

In M US \$ / %	Q3 2021	Q3 2022
Sales	6.0	5.3
Operating profit	2.0 33.2%	1.4 25.8%
Organic growth	-4.7%
Highlights	Profitability mainly affected by Euro USD impacts.

Q3 2022 SPECIALYY INGREDIENTS S

In M US \$ / %	Q3 2021	Q3 2022
Sales	1.6	3.2
Operating profit	0.5 32.6%	0.9 29.3%
Organic growth		+111.8%
Highlights	Profitability mainly growth.	affected by strong organic

P&L – SIGNIFICANT GROWTH

K US \$	2021	Q3 2021	Q3 2022	YTD 9/2021	YTD 9/2022
Revenues	85,334	17,839	30,346	57,283	88,056
Gross Profit	34,728	7,256	11,950	23,036	34,314
GP%	40.7%	40.7%	39.4%	40.2%	39.0%
R&D Expenses	1,949	432	827	1,321	2,329
Sales & Marketing expenses	6,274	1,143	2,496	3,831	7,010
Management & General expenses	10,257	2,318	3,632	6,350	10,496
Other Expense (Income)	208	(54)	3	113	)24(
Operating Profit	16,040	3,417	4,992	11,421	14,053
OP%	18.8%	19.2%	16.5%	19.9%	16.5%
Net Profit	12,812	2,522	3,591	8,839	11,790
EBIDTA	20,021	4,355	6,691	14,014	19,783
Adj. EBIDTA (*)	20,475	4,355	6,971	14,209	20,279
% Adj. EBIDTA	24.0%	24.4%	23.0%	24.8%	23.0%

BALANCE SHEET

K US \$	30/9/2021	30/9/2022
Assets
Current Assets	99,110	92,944
Non-Current Assets	34,834	93,124
Total Assets	133,944	186,068
Liabilities & Equity
Current Liabilities	24,119	35,140
Non-Current Liabilities	25,821	60,061
Equity	84,004	90,867

Ratio
Working capital to sales	30.0%	30.5%
Cash and Cash equivalent	67,489	29,166
Net Cash (Net Debts)(*)	50,199	13,258
Equity to total balance sheet	62.7%	48.8%

Total Liabilities and Equity 133,944 186,068

Turpaz strong equity structure, low leverage, cash flow from operations, funding availability and the strengthening of management and managerial infrastructures enable the implementation of the group's combined growth strategy.

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

PROVEN TRACK RECORD OF ACQUISITIONS

* Completion expected in the coming weeks.

THANK YOU