Turpaz Industries Ltd.

Investor Presentation • Aug 19, 2025

Investor Presentation

August 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.

H1 2025 Highlights (US \$)

Record Sales \$123.8M +44.3% Run Rate based on Q3 ~ \$300M	Strong Double Digit Organic Growth 11.6%	Adj. EBITDA / Margin \$28.3M / 22.8% +54.4%
Cash Flow from Operations \$13.1M	Gross Profit / Margin \$48.2M/39.0% +48.5%	Net Profit / Margin \$10.6M / 8.6% +57.7% Net Profit (Non-GAAP) / Margin \$15.3M / 12.4%

TASE TA-125 Listed | Recently Added to MSCI Small Cap Index

Q2 2025 Highlights (US \$)

Record Sales	Strong Double Digit	Adj. EBITDA / Margin
\$63.4M	Organic Growth	\$14.6M / 23.1%
+35.6%	14.2%	+47.5%
Cash Flow from Operations \$5.6M	Gross Profit / Margin \$24.7M / 39.0% +36.7%	Net Profit / Margin \$5.2M / 8.2% +52.1% Net Profit (Non-GAAP) / Margin \$7.5M / 11.8%

Adj. EBITDA - EBITDA without non-recurring expenses or income.

Adj. EBITDA - EBITDA without non-recurring expenses or income.

EBIT/EBITDA

Global F&F Company

H1 2025 – Segments performance

10

Q2 2025 Turpaz – Consolidated

In K US \$ / %	Q2 2024	Q2 2025
Sales	46,765	+35.6% 63,418
Gross Profit	18,086 38.7%	24,715 39.0%
Operating Profit	5,911 12.6%	9,922 15.6%
Adjusted EBITDA	9,925 21.2%	14,638 23.1%
Net-Profit	3,433 7.3%	5,223 8.2%
Net-Profit Non-GAAP	5,196 11.1%	7,463 11.8%

Taste	Q2 2025
	In K US \$ / %	Q2 2025 Q2 2024
	Sales % of group sales	+35.3% 46,224 34,171 72.9% 73.1%
	Operating profit	9,680 5,919 20.9% 17.3%
	Organic	+8.8%
	Acquisitions	F&E, Schumann, AFS, Doucy, Carotex
	Highlights	Increase in sales and profitability stems from acquisitions, organic growth & synergies

12

Q2 2025 Fragrance

In K US \$ / %	Q2 2025 Q2 2024
Sales % of group sales	+6.8% 9,557 8,950 19.1% 15.1%
Operating Profit	2,327 2,292 24.3% 25.6%
Organic	+2.2%
Acquisitions	Carotex
Highlights	Increase in sales stems from organic growth

Q2 2025 Specialty Fine Ingredients

14

P&L – Significant Growth

K US \$	2024	Q2 2024	Q2 2025	H1 2024	H1 2025
Revenues	188,948	46,765	63,418	85,781	123,777
Gross Profit	73,659	18,086	24,715	32,482	48,234
Gross Profit %	39.0%	38.7%	39.0%	37.9%	39.0%
R&D Expenses	7,034	1,898	2,311	3,305	4,481
Sales & Marketing Expenses	16,273	4,037	5,667	6,950	11,230
Management & General Expenses	22,124	5,897	6,885	10,227	13,406
Equity (Gain) Loss	(36)	-	(230)	-	(599)
Other Expenses (Income)	532	343	160	636	160
Operating Profit	27,732	5,911	9,922	11,364	19,556
Operating Profit %	14.7%	12.6%	15.6%	13.2%	15.8%
Net Profit	15,745	3,433	5,223	6,741	10,633
Profit from discontinued operations	165	-	-	-	-
Total Net Profit	15,910	3,433	5,223	6,741	10,633
Net Profit –Non GAAP	23,317	5,196	7,463	10,054	15,340
EBITDA	41,599	9,540	14,289	17,605	27,904
Adjusted EBITDA (*)	42,975	9,925	14,638	18,296	28,253
Adjusted EBITDA %	22.7%	21.2%	23.1%	21.3%	22.8%
Cash flow from operations	21,116	7,704	5,570	11,254	13,134

(*) Adj. EBITDA - Adjusted to reflect EBITDA without nonrecurring expenses or income.

Balance Sheet

16

K US \$	31.12.2024	30.6.2024	30.6.2025
Assets
Current Assets	123,719	90,351	134,227
Non-Current Assets	267,031	252,014	380,939
Total Assets	390,750	342,365	515,166
Liabilities & Equity
Current Liabilities	70,136	50,896	109,712
Non-Current Liabilities	176,368	172,268	237,611
Equity	144,246	119,201	167,843
Total Liabilities and Equity	390,750	342,365	515,166
Ratios
Working Capital to Sales	27.2%	25.7%	27.6%
Cash and Cash Equivalent	25,926	18,693	31,003
Net Debts(*)	75,992	42,293	121,273
Equity to total balance sheet	36.9%	34.8%	32.6%
Net Debt to EBITDA(**)	1.6	1.1	2.0

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

Thank You