==> picture [58 x 70] intentionally omitted <==

ITC Limited Virginia House 37 J. L. Nehru Road Kolkata 700 071, India Tel. : 91 33 2288 9371 Fax : 91 33 2288 4016 / 1256 / 2259 / 2260

12[th] December, 2023

The Manager Listing Department National Stock Exchange of India Ltd. Exchange Plaza Plot No. C-1, G Block Bandra-Kurla Complex Bandra (East) Mumbai 400 051

The General Manager Dept. of Corporate Services BSE Ltd. P. J. Towers Dalal Street Mumbai 400 001

The Secretary The Calcutta Stock Exchange Ltd. 7, Lyons Range Kolkata 700 001

Dear Sirs,

Institutional Investors & Financial Analysts Day

Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a copy of the various presentations made at the ‘Institutional Investors & Financial Analysts Day’ held today.

Copy of the said presentations are also being hosted on the Company’s corporate website www.itcportal.com .

Yours faithfully, ITC Limited RAJENDRA Digitally signed by RAJENDRA KUMAR KUMAR SINGHI Date: 2023.12.12 SINGHI 19:10:41 +05'30'

(R. K. Singhi) Executive Vice President & Company Secretary

Encl: as above

FMCG ⚫ HOTELS ⚫ PAPERBOARDS & PACKAGING ⚫ AGRI-BUSINESS ⚫ INFORMATION TECHNOLOGY Visit us at www.itcportal.com ⚫ Corporate Identity Number : L16005WB1910PLC001985 ⚫ e-mail : [email protected]

==> picture [43 x 52] intentionally omitted <==

cc: Securities Exchange Commission Division of Corporate Finance Office of International Corporate Finance Mail Stop 3-9 450 Fifth Street Washington DC 20549 U.S.A. cc: Societe de la Bourse de Luxembourg 35A Boulevard Joseph II L-1840 Luxembourg

==> picture [960 x 71] intentionally omitted <==

==> picture [656 x 87] intentionally omitted <==

Sanjiv Puri

Chairman and Managing Director

Investor Day 2023 | 12[th] December 2023

Forward-Looking Statements

==> picture [75 x 74] intentionally omitted <==

This presentation contains certain forward-looking statements including those describing the Company’s strategies, strategic direction, objectives, future prospects, estimates etc. Investors are cautioned that “forward looking statements” are based on certain assumptions of future events over which the Company exercises no control. Therefore there can be no as to their and readers are advised not to undue reliance on these guarantee accuracy place any forward looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. These statements involve a number of risks, uncertainties and other factors that could cause actual results or positions to differ materially from those that may be projected or implied by these forward looking statements. Such risks and uncertainties include, but are not limited to: growth, competition, acquisitions, domestic and international economic conditions affecting demand, supply and price conditions in the various businesses in the Company’s portfolio, changes in Government regulations, tax regimes and other statutes, and the ability to attract and retain high quality human resource.

| 2 |

Investor Day 2023

ITC

==> picture [68 x 68] intentionally omitted <==

69,481 cr. Gross Revenue

25+ World-class Mother Brands in FMCG

60 lakh Sustainable livelihoods supported

==> picture [68 x 68] intentionally omitted <==

==> picture [77 x 76] intentionally omitted <==

==> picture [75 x 50] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

Responsible Competitiveness | Enduring Value

==> picture [68 x 68] intentionally omitted <==

12 Future-ready Businesses

23,944 cr. EBITDA Margins @ 37%

==> picture [56 x 57] intentionally omitted <==

Amongst Top 3 Contribution to the Exchequer

Consistently in the Top League Profits | Market Cap

==> picture [68 x 68] intentionally omitted <==

Global exemplar In Sustainability

World-class Talent

| 3 |

Investor Day 2023

ITC

Leading FMCG Marketer

==> picture [60 x 78] intentionally omitted <==

==> picture [116 x 77] intentionally omitted <==

==> picture [50 x 72] intentionally omitted <==

==> picture [44 x 72] intentionally omitted <==

==> picture [40 x 76] intentionally omitted <==

==> picture [81 x 64] intentionally omitted <==

==> picture [38 x 79] intentionally omitted <==

==> picture [25 x 55] intentionally omitted <==

==> picture [84 x 73] intentionally omitted <==

==> picture [33 x 71] intentionally omitted <==

==> picture [98 x 64] intentionally omitted <==

==> picture [24 x 53] intentionally omitted <==

==> picture [37 x 43] intentionally omitted <==

==> picture [31 x 51] intentionally omitted <==

==> picture [20 x 43] intentionally omitted <==

Foremost Agri Player

==> picture [231 x 87] intentionally omitted <==

==> picture [204 x 175] intentionally omitted <==

==> picture [92 x 89] intentionally omitted <==

==> picture [48 x 89] intentionally omitted <==

==> picture [48 x 90] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

Contributing to all sectors of the economy Agriculture, Manufacturing & Services

Pre-eminent Hotel chain | Trailblazer in Responsible Luxury

==> picture [143 x 177] intentionally omitted <==

==> picture [138 x 93] intentionally omitted <==

==> picture [145 x 175] intentionally omitted <==

==> picture [137 x 83] intentionally omitted <==

Clear Market leader in Paperboards, Paper & Packaging

==> picture [236 x 175] intentionally omitted <==

----- Start of picture text -----

4
----- End of picture text -----

==> picture [189 x 175] intentionally omitted <==

| 4 |

Investor Day 2023

Portfolio Transformation over the years

==> picture [75 x 74] intentionally omitted <==

Driving Profitable & Capital Efficient Growth

Non-Cigarette Businesses

Rs. cr.

==> picture [313 x 231] intentionally omitted <==

==> picture [599 x 230] intentionally omitted <==

----- Start of picture text -----

3339
----- End of picture text -----

Leadership in traditional businesses Cigarettes | Agri | Paper | Hotels

Appreciable progress in OFMCG

| 5 |

Investor Day 2023

Revenue net of Excise Duty/NCCD on sales

Standalone basis

Delivering in Challenging Times

==> picture [281 x 213] intentionally omitted <==

Overall

==> picture [279 x 212] intentionally omitted <==

NonCigarette Businesses

==> picture [75 x 74] intentionally omitted <==

Pandemic + Inflation + Taxation

==> picture [282 x 213] intentionally omitted <==

==> picture [267 x 207] intentionally omitted <==

==> picture [282 x 212] intentionally omitted <==

c. denotes 5 Yr. CAGR

| 6 |

Investor Day 2023

FMCG & Hotels Segments

==> picture [75 x 74] intentionally omitted <==

Rs. cr. OFMCG HOTELS

==> picture [445 x 219] intentionally omitted <==

==> picture [448 x 220] intentionally omitted <==

c. denotes 5 Yr. CAGR

| 7 |

Investor Day 2023

Agri & Paper Segments

==> picture [75 x 74] intentionally omitted <==

Rs. cr.

Agri Business

==> picture [448 x 219] intentionally omitted <==

Paperboards, Paper & Packaging

==> picture [448 x 220] intentionally omitted <==

c. denotes 5 Yr. CAGR

| 8 |

Investor Day 2023

Non Cigarette Businesses: Driving Capital Efficiency

==> picture [75 x 74] intentionally omitted <==

==> picture [148 x 27] intentionally omitted <==

----- Start of picture text -----

ROCE
----- End of picture text -----

==> picture [925 x 280] intentionally omitted <==

----- Start of picture text -----

18%^
16%
5%
^ excl.
for Gestated
Intangibles
properties
acquired
----- End of picture text -----

Non-Cigarette Businesses

==> picture [100 x 16] intentionally omitted <==

----- Start of picture text -----

11% → 22%
----- End of picture text -----

| 9 |

Investor Day 2023

Consistently Strong Cash Flow Generation

Robust Cash Generation

Rs. cr.

~95,000 cr.

10 year cumulative Free Cash flow generation

==> picture [75 x 74] intentionally omitted <==

Strong Zero debt Balance Sheet

Dividend Payout Stepped up

==> picture [439 x 275] intentionally omitted <==

~102,000 cr.

10 year cumulative Dividend payout

| 10 |

Investor Day 2023

Global Exemplar in Sustainability

==> picture [75 x 74] intentionally omitted <==

==> picture [83 x 72] intentionally omitted <==

Platinum Certificate Alliance for Water Stewardship

ITC PSPD Kovai unit ICML Malur 1[st] in India 1[st] Asian Food Processing Facility 2[nd] Globally

==> picture [78 x 72] intentionally omitted <==

First 12 Hotels in the world with LEED Zero Carbon Certification

==> picture [86 x 79] intentionally omitted <==

ITC Sankhya, Bengaluru First Data Centre in the world with USGBC LEED Zero Carbon Status

==> picture [43 x 96] intentionally omitted <==

Winner of the first UNDP Mahatma Award for Biodiversity

‘Water Positive’ - 21 years | ‘Carbon Positive’ - 18 years | ‘Solid Waste Recycling Positive’ - 16 years

Supporting Sustainable 43% of Total Energy from 40 Platinum Rated Livelihoods for 6 million people renewable sources Green Buildings

| 11 |

Investor Day 2023

Top notch ESG Credentials & Disclosures

==> picture [55 x 114] intentionally omitted <==

==> picture [256 x 123] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

Highest standards of transparency

==> picture [66 x 33] intentionally omitted <==

ITC’s CDP Scores

| 12 | Climate Change: ITC ahead of Asia and Global average of ‘C’

A-

Water Security: ITC ahead of Asia and Global average of ‘B’

In Climate Change & Water Security

Sustained ‘AA’ rating 5 years in a row

20 Years of Sustainability Reporting

==> picture [229 x 105] intentionally omitted <==

Included in the Dow Jones Sustainability Emerging Markets Index

Reflection of being a sustainability leader in the industry

ITC’S Disclosures & GHG Emission Inventory are Third Party Assured at a ‘Reasonable Level’

==> picture [89 x 121] intentionally omitted <==

==> picture [123 x 86] intentionally omitted <==

Reporting on SEBI’s BRSR since FY22 One year ahead of regulatory mandate

| 12 |

Investor Day 2023

==> picture [960 x 67] intentionally omitted <==

Macro Trends Global → India A Compelling Growth Story

==> picture [61 x 41] intentionally omitted <==

| 13 |

Investor Day 2023

Global Mega Trends

5Ds Shaping the Future

==> picture [75 x 74] intentionally omitted <==

==> picture [936 x 158] intentionally omitted <==

----- Start of picture text -----

Demographics
Deglobalisation
Digitalisation
----- End of picture text -----

==> picture [451 x 100] intentionally omitted <==

----- Start of picture text -----

Digitalisation
----- End of picture text -----

==> picture [451 x 112] intentionally omitted <==

----- Start of picture text -----

Deceleration
----- End of picture text -----

==> picture [451 x 101] intentionally omitted <==

----- Start of picture text -----

Decarbonisation
----- End of picture text -----

| 14 |

Investor Day 2023

Demographics

Median Age amongst the lowest in the world

==> picture [405 x 171] intentionally omitted <==

----- Start of picture text -----

FY20 FY50E
6050 38 37 45 38 43 38 48 40 42 43 47 48 55
40 34
28 30
30
20
10
0
----- End of picture text -----

Increasing Affluence & Aspirations

==> picture [403 x 177] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

India - Uniquely poised

Rapid Urbanisation

==> picture [350 x 174] intentionally omitted <==

----- Start of picture text -----

Urban Population Share%
38.8%
37.3%
35.7%
34.1%
32.5%
31.1%
2011 2015 2020 2025 2030 2035
----- End of picture text -----

Remains the Fastest growing major economy

==> picture [355 x 177] intentionally omitted <==

| 15 |

Investor Day 2023

Source: IMF WEO Oct’23, Industry reports

Digitalisation

Digital Explosion |Financial Inclusion | Tech Democratisation

==> picture [75 x 74] intentionally omitted <==

==> picture [950 x 211] intentionally omitted <==

----- Start of picture text -----

2021 2031

----- End of picture text -----*

E-com market can potentially increase to Digital Explosion > $300 Bln by FY30 Digital India

Monthly UPI transactions → INR 16 tn (c. $160 Bln)

==> picture [132 x 43] intentionally omitted <==

| 16 |

Source: Industry Reports

Investor Day 2023

* of internet penetration

De carbonisation

Climate Crisis | Supply Chain Disruption | Food Security Energy Transition

==> picture [75 x 74] intentionally omitted <==

==> picture [838 x 301] intentionally omitted <==

----- Start of picture text -----

Extreme Weather
Supply Chain
events
Disruptions
Rapidly evolving
Food Security
Regulations
Inflation
concerns
Stakeholder
Biodiversity Expectations
Social Inequity
Loss
Pollution
----- End of picture text -----

| 17 |

Investor Day 2023

Multi dimensional Reforms Agenda to Power Growth

Infrastructure

Taxation

National Infra Pipeline Gati Shakti National Industrial Corridors Smart City Mission PM Awas Yojana

==> picture [41 x 46] intentionally omitted <==

==> picture [36 x 44] intentionally omitted <==

GST Reforms Corporate Tax Rationalisation

Digital

Financial Sector

Digital India Jan Dhan-Aadhaar-Mobile Unified Payments Interface ONDC

Insolvency and Bankruptcy Code NPA Resolution - Bad Bank

==> picture [43 x 55] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

Manufacturing

==> picture [47 x 63] intentionally omitted <==

PLI Make in India New Labor Code ICT Manufacturing

Agri/ Rural

PM KISAN PMGKY Central Scheme on FPOs Rural Electrification Rural Livelihoods Mission

==> picture [50 x 61] intentionally omitted <==

Illustrative initiatives

| 18 |

Investor Day 2023

Multiple Drivers of Consumption

==> picture [75 x 74] intentionally omitted <==

==> picture [901 x 389] intentionally omitted <==

----- Start of picture text -----

Per Capita Income
2010 2021 2031
Median Population Age $1,360 $2,278 $5,242 Rural/urban income gap
2010 2021 2031 2010 2021 2031
25.4 29.0 31.8 2.1x 1.8x 1.4x
Urbanization Internet penetration
2010 2021 2031 Consumption 2010 2021 2031
31% 35% 40% 8% 47% 65%
drivers
Nuclearization Online shopper penetration
2010 2021 2031 2010 2021 2031
5.0 4.6 4.5 Share of population in 4% 41% 70%
spending age
2010 2021 2031
64% 67% 68%
----- End of picture text -----

| 19 |

Investor Day 2023

Source: Analyst Reports

==> picture [960 x 67] intentionally omitted <==

ITC Next Strategies

| 20 |

Investor Day 2023

ITC Next Strategy

Future Tech | Consumer Centric | Climate Positive | Inclusive

==> picture [75 x 74] intentionally omitted <==

==> picture [807 x 116] intentionally omitted <==

Multiple Drivers Innovation and Supply Chain Digital Sustainability Cost Agility & of Growth R&D 2.0 Productivity Agile Agile Digital first culture Responsible Structural Competitiveness interventions Purposeful Resilient Smart Eco System Bolder ambition across value chain Science based Efficient platforms

ITC Synergy

World-Class Talent

Creating Multiple Drivers of Growth

==> picture [378 x 454] intentionally omitted <==

----- Start of picture text -----

Market Best Enterprise
Fit
Opportunity Strengths
Brand
Building
Capability
LSTC Multi Channel
Capabilities Distribution
Synergistic
High Quality
Consumer Growth Agri Sourcing
Expertise
Engagement
Cuisine Packaging
Knowledge Knowhow
----- End of picture text -----

==> picture [75 x 74] intentionally omitted <==

==> picture [362 x 55] intentionally omitted <==

----- Start of picture text -----

Macro Trends New Horizons
----- End of picture text -----

==> picture [241 x 273] intentionally omitted <==

----- Start of picture text -----

Digital
Enterprise
Sustainability
Strengths
----- End of picture text -----

| 22 |

Investor Day 2023

Multiple Drivers of Growth

3 Horizon Growth Framework

==> picture [75 x 74] intentionally omitted <==

==> picture [854 x 389] intentionally omitted <==

----- Start of picture text -----

Chocolates | Premium Skincare
Food Tech | ITCMAARS
Sustainable Packaging – Platform 3
Beverages | Frozen Foods | Liquid Wash
Startup investments
Homecare | Nicotine | Value Added Agri
Sustainable Packaging – Platforms 1 & 2
Create viable options for
Extend and defend Build Emerging
Future growth opportunities
Core businesses businesses
----- End of picture text -----

| 23 |

Investor Day 2023

ITC Next Strategy

Future Ready | Consumer Centric | Climate Positive | Inclusive

==> picture [75 x 74] intentionally omitted <==

==> picture [815 x 340] intentionally omitted <==

----- Start of picture text -----

Multiple Drivers Innovation and Supply Chain Digital Sustainability Cost Agility &
of Growth R&D 2.0 Productivity
Agile Agile Digital first culture Responsible Structural
Competitiveness interventions
Purposeful Resilient Smart Eco System
Bolder ambition across value chain
Science based Efficient
platforms
----- End of picture text -----

ITC Synergy

World-Class Talent

Translating Mega Trends into Agile & Purposeful Innovation

==> picture [75 x 74] intentionally omitted <==

Mega Trends	Business Impact Areas	Specialized Research Platforms
Sociological Trends	Climate Change- Biotic & Abiotic Stresses Nutrient richcrops / varieties	Consumer & Sensory Sciences Health & Wellness

Sustainability	Health & Nutrition
Digital Transformation Consumer & Demographic Changes	Naturals, Plant basedFoods Clean label, Transparency, Trust, Authenticity Novel sensoryexperiences	Beauty & Hygiene Agro forestry & Crop Sciences

	Reduce single-use plasticand its impact	Chemical Sciences & Ingredients Sustainable Materials & Packaging

| 25 |

Investor Day 2023

Strategy of Innovation

==> picture [75 x 74] intentionally omitted <==

==> picture [534 x 407] intentionally omitted <==

----- Start of picture text -----

Ecosystem to
support
Agile
innovation
Consumer
based
Insighting
entrepreneur-
ship
End to end
Synergies
value
across
chain
Businesses
focus
----- End of picture text -----

==> picture [179 x 131] intentionally omitted <==

----- Start of picture text -----

Science-based long
term Research
Product
Innovation
----- End of picture text -----

| 26 |

Investor Day 2023

Cutting edge R&D capability

==> picture [75 x 74] intentionally omitted <==

ITC LSTC Ranked Top Innovator in India^

| 27 |

Investor Day 2023

^amongst Indian Pharma & Health Care Pvt. Cos. (Sagacious IP Report Aug’21)

First to market | Differentiated Products

Leveraging Innovation Platforms

==> picture [130 x 216] intentionally omitted <==

==> picture [146 x 180] intentionally omitted <==

==> picture [83 x 211] intentionally omitted <==

==> picture [67 x 192] intentionally omitted <==

==> picture [68 x 186] intentionally omitted <==

==> picture [145 x 118] intentionally omitted <==

==> picture [252 x 177] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

==> picture [131 x 173] intentionally omitted <==

==> picture [209 x 83] intentionally omitted <==

| 28 |

Investor Day 2023

Cost Reduction | Speed to market De-risking Supply Chain | Sustainability

….. and Across the Value Chain

==> picture [75 x 74] intentionally omitted <==

==> picture [276 x 167] intentionally omitted <==

In-house Capsules, Capsule Filters

==> picture [276 x 169] intentionally omitted <==

Resilience | Wood & Pulp Yield

==> picture [276 x 169] intentionally omitted <==

Varietal securitisation

| 29 |

Investor Day 2023

ITC Next Strategy

Future Ready | Consumer Centric | Climate Positive | Inclusive

==> picture [75 x 74] intentionally omitted <==

==> picture [815 x 340] intentionally omitted <==

ITC Synergy

World-Class Talent

Agile, Resilient & Efficient Supply Chains

==> picture [75 x 74] intentionally omitted <==

Economies of Scale & Scope

Smart Buying & Value Engineering

Modular Capacity Augmentation Immense Headroom (>2x current levels)

AI/ML engines – Real Time Price Discovery Varietal/Geographical Arbitrage

Recipe & Packaging innovations

Distributed Manufacturing

Proximal to large demand centres Integrated Operations Cross-category synergies

Localised Supply Chains

Integrated Agri Operations Agile & Responsive servicing of Proximal Markets

==> picture [353 x 259] intentionally omitted <==

Smart Manufacturing Industrial IoT | Automation Energy optimisation Quality | Yield Management TPM | Lean | Six Sigma

Climate Risk Modeling

Climate proofing operations, Agri Value Chains

Site specific adaptation strategies

| 31 |

Investor Day 2023

Creating Structural Advantage leveraging ICMLs

Proximity to large consumption centres

Key Business Drivers

Freshness Shorter D2M Market Responsiveness Lower lead time Cost OTIF fulfilment Quality Lower inventory norms

Delayered Operations

Direct Shipments Multiple handling X Lower WH cost

==> picture [75 x 74] intentionally omitted <==

Cross Category synergies

Freight Optimisation Common Infra & Utilities

==> picture [594 x 157] intentionally omitted <==

----- Start of picture text -----

Mfg. Warehouse Distributor Retailers
location
Local Agri Value Chain ICML Distributor Retailers
----- End of picture text -----

==> picture [64 x 60] intentionally omitted <==

==> picture [70 x 62] intentionally omitted <==

==> picture [101 x 64] intentionally omitted <==

==> picture [73 x 64] intentionally omitted <==

==> picture [72 x 65] intentionally omitted <==

| 32 |

Investor Day 2023

==> picture [478 x 271] intentionally omitted <==

----- Start of picture text -----

ICML Kapurthala
----- End of picture text -----

==> picture [483 x 268] intentionally omitted <==

----- Start of picture text -----

AMLF Kapurthala
----- End of picture text -----

ICML Kapurthala AMLF Kapurthala Investor Day 2023 ICML Trichy AMLF Trichy | 33 |

ITC Next Strategy Future Ready | Consumer Centric | Climate Positive | Inclusive

==> picture [75 x 74] intentionally omitted <==

==> picture [815 x 340] intentionally omitted <==

ITC Synergy

World-Class Talent

Mission DigiArc

Building a dynamic 'Future-Tech’ ecosystem

==> picture [75 x 74] intentionally omitted <==

==> picture [736 x 299] intentionally omitted <==

----- Start of picture text -----

Digital First culture Skill Building
Young Digital Digital Day & Strategy
Innovator’s Lab Workshop
DigiNext Digital Marketing
----- End of picture text -----

Institutional Assets

==> picture [590 x 84] intentionally omitted <==

| 35 |

Investor Day 2023

Mission DigiArc

==> picture [191 x 60] intentionally omitted <==

----- Start of picture text -----

Smart Consumer
----- End of picture text -----

==> picture [89 x 92] intentionally omitted <==

==> picture [126 x 27] intentionally omitted <==

==> picture [110 x 67] intentionally omitted <==

==> picture [100 x 55] intentionally omitted <==

==> picture [53 x 56] intentionally omitted <==

==> picture [75 x 70] intentionally omitted <==

==> picture [86 x 43] intentionally omitted <==

==> picture [124 x 16] intentionally omitted <==

----- Start of picture text -----

Classmateshop.com
----- End of picture text -----

==> picture [62 x 62] intentionally omitted <==

==> picture [96 x 37] intentionally omitted <==

Superior Insight |Agile Innovation | Hyper-personalization | Marketing ROI

==> picture [191 x 57] intentionally omitted <==

----- Start of picture text -----

Smart Operations
----- End of picture text -----

==> picture [82 x 82] intentionally omitted <==

==> picture [60 x 55] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

==> picture [53 x 84] intentionally omitted <==

==> picture [80 x 66] intentionally omitted <==

==> picture [41 x 13] intentionally omitted <==

----- Start of picture text -----

RTPD
----- End of picture text -----

==> picture [67 x 48] intentionally omitted <==

==> picture [81 x 76] intentionally omitted <==

==> picture [99 x 18] intentionally omitted <==

----- Start of picture text -----

Manthan
----- End of picture text -----

Efficiency | Flexibility | Optimised System Costs

==> picture [75 x 74] intentionally omitted <==

Strategic Interventions

==> picture [235 x 395] intentionally omitted <==

----- Start of picture text -----

Smart Trade
----- End of picture text -----

Right Markets | Right Outlets | Right Assortment

| 36 |

Investor Day 2023

ITC Next Strategy

Future Ready | Consumer Centric | Climate Positive | Inclusive

==> picture [75 x 74] intentionally omitted <==

==> picture [815 x 340] intentionally omitted <==

ITC Synergy

World-Class Talent

Sustainability 2.0 Strategy

Reimagining Sustainability amidst Global Challenges

Agile & Resilient Supply Chains

De-carbonisation

==> picture [75 x 74] intentionally omitted <==

Mainstreaming Sustainability → Triple Bottom Line

Create sources unique of Competitive Advantage for Business

Strengthen ITC’s status as a Climate Positive organization

Going beyond risk mitigation ; leveraging opportunities

Water Sustainable Security Products & Services

Circularity Enhancing Plastic Neutrality Biodiversity

Inclusive Diversity, Equity Development & Inclusion Supporting Sustainable Livelihoods

| 38 |

Investor Day 2023

==> picture [75 x 74] intentionally omitted <==

Creating Enduring Value for All Stakeholders

Sustainable | Inclusive | Competitive

Decarbonisation & Climate Resilience

Water Security for All

Circularity & Plastic Neutrality

Rainwater Harvesting Potential Till Date 2030 Target 49 mn kl 60 mn kl Water Use Efficiency in Agriculture (Annual Savings) Till Date 2030 Target 480 mn kl 2000 mn kl Alliance for Water Stewardship 2 AWS Platinum Certified Sites 8 Sites by 2024 All Water Stressed Sites by 2035

Source Segregation Programmes

Renewable Energy

Till Date 2030 Target 43% 50%

8 million

Households Till Date

Green Infrastructure

Pan-India Plastic Waste Collection 60,000 MT

40 1[st ] in the World Platinum 12[LEED Zero ] Green Bldgs Carbon Hotels

in 2022-23 .

Afforestation

Plastic Neutral

Till Date 2030 Target 1 mn 1.5 mn acres acres

Collections Since FY22

Climate Risk Models & AI for Building AI Resilience across Assets, Value Chains

| 39 |

Investor Day 2023

Creating Enduring Value for All Stakeholders

Agile & Resilient Agri Value Chains Sustainable Agriculture

Enhancing Biodiversity

Revive and Sustain Ecosystem Services

Climate Smart Village Approach

Biodiversity Conservation

Till Date 2030 Target +1 mn 3 mn acres acres

Till Date 2030 Target 290,000 1 mn acres acres Sustainable Forestry

Climate Smart Agriculture Programmes Covering

2.3 mn acres

426,000 tonnes

of Farms across 17 States impacting over 740,000 farmers

of FSC® certified wood were procured from certified plantations in FY2022-23

==> picture [75 x 74] intentionally omitted <==

Sustainable | Inclusive | Competitive

Sustainable Products

Supporting Sustainable Livelihoods

Sustainable Packaging Offerings

Sustainable Livelihoods Supported across Operations

==> picture [189 x 157] intentionally omitted <==

Till Date 2030 Target 6 mn 10 mn

Unique Two-Horizon Approach

100% Packaging to be Recyclable/Reusable/ Compostable or Biodegradable by 2028

Transforming Livelihoods for Today, Tomorrow

==> picture [54 x 81] intentionally omitted <==

==> picture [51 x 26] intentionally omitted <==

==> picture [45 x 60] intentionally omitted <==

==> picture [62 x 36] intentionally omitted <==

| 40 |

Investor Day 2023

ITC Next Strategy

Future Ready | Consumer Centric | Climate Positive | Inclusive

==> picture [75 x 74] intentionally omitted <==

==> picture [813 x 339] intentionally omitted <==

ITC Synergy

World-Class Talent

Cost Agility & Productivity

==> picture [75 x 74] intentionally omitted <==

Import Substitution

==> picture [892 x 271] intentionally omitted <==

----- Start of picture text -----

Vertical Integration
Digital | Optimisation
ICMLs
Renewable Energy
----- End of picture text -----

Driving Cost Agility & Productivity

Industry 4.0 Paperboards & FMCG

In-house Capsule, Flavour & Capsule Filter

==> picture [267 x 139] intentionally omitted <==

==> picture [198 x 138] intentionally omitted <==

==> picture [200 x 150] intentionally omitted <==

==> picture [267 x 152] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

In-house HPRB BCTMP Pulp Pulp Expansion

==> picture [173 x 296] intentionally omitted <==

==> picture [172 x 296] intentionally omitted <==

| 43 |

Investor Day 2023

BCTMP: Bleached Chemical Thermo Mechanical Pulp

HPRB: High Pressure Recovery Boiler

RE initiatives driving down energy costs

Driving Cost Agility & Productivity

==> picture [325 x 277] intentionally omitted <==

==> picture [357 x 276] intentionally omitted <==

Wind

Solar

==> picture [207 x 36] intentionally omitted <==

----- Start of picture text -----

Capacity 138 MW
----- End of picture text -----

==> picture [207 x 36] intentionally omitted <==

----- Start of picture text -----

Capacity 75 MW
----- End of picture text -----*

==> picture [207 x 35] intentionally omitted <==

----- Start of picture text -----

75 turbines | 13 sites |
5 States
----- End of picture text -----

==> picture [207 x 35] intentionally omitted <==

----- Start of picture text -----

4 Offsites
Others on-site
----- End of picture text -----

==> picture [75 x 74] intentionally omitted <==

==> picture [258 x 277] intentionally omitted <==

Biofuel

==> picture [208 x 36] intentionally omitted <==

----- Start of picture text -----

90 TPH
----- End of picture text -----*

==> picture [208 x 35] intentionally omitted <==

----- Start of picture text -----

Cigarettes | Foods | Tobacco
----- End of picture text -----

| 44 |

Investor Day 2023

* Including pipeline

==> picture [960 x 67] intentionally omitted <==

FMCG Cigarettes

| 45 |

Investor Day 2023

==> picture [960 x 67] intentionally omitted <==

Cigarette Business Imperatives

Maximise Cigarette Countering Reinforce Potential within Tobacco illicit Market Basket Standing

➢ FY13 → FY20 : Sharp rise in Taxes → Volumes ↓20%
➢ FY22 onwards: Claw back from illicit trade → Relatively stable taxation regime + Portfolio fortification

| 46 |

Investor Day 2023

Key Strategy Levers

==> picture [75 x 74] intentionally omitted <==

==> picture [543 x 172] intentionally omitted <==

----- Start of picture text -----

Future-Ready-Portfolio Agile Innovation
Powerful Trust marks Category Insights
Laddered Portfolio Multiple Vectors of Differentiation
Variety and Premiumization Intellectual Property
----- End of picture text -----

==> picture [544 x 147] intentionally omitted <==

----- Start of picture text -----

Integrated ‘Seed to Smoke’ Excellence in Execution
Value Chain
Product Excellence
Agile & Efficient
Last Mile Superiority
Make In India: Maximize Value Capture
Industry 4.0
----- End of picture text -----

Continuous engagement with policy makers Pragmatic & equitable taxation and regulatory framework

| 47 |

Investor Day 2023

==> picture [960 x 67] intentionally omitted <==

FMCG Others

==> picture [156 x 172] intentionally omitted <==

==> picture [47 x 43] intentionally omitted <==

==> picture [74 x 39] intentionally omitted <==

==> picture [158 x 171] intentionally omitted <==

==> picture [49 x 35] intentionally omitted <==

==> picture [50 x 43] intentionally omitted <==

==> picture [157 x 171] intentionally omitted <==

==> picture [47 x 43] intentionally omitted <==

==> picture [59 x 37] intentionally omitted <==

==> picture [42 x 29] intentionally omitted <==

==> picture [651 x 44] intentionally omitted <==

==> picture [65 x 53] intentionally omitted <==

==> picture [404 x 53] intentionally omitted <==

==> picture [184 x 51] intentionally omitted <==

| 48 |

Investor Day 2023

One of the Fastest growing FMCG Businesses

ITC FMCG

==> picture [68 x 68] intentionally omitted <==

29,000 cr. Annual Consumer spends

==> picture [79 x 79] intentionally omitted <==

25+ World-class Mother Brands

==> picture [64 x 54] intentionally omitted <==

Present in 3 of 4 Households in India

==> picture [56 x 60] intentionally omitted <==

+14% CAGR Revenue in last 3 years

==> picture [39 x 63] intentionally omitted <==

300 products Launched in last 3 years

7 million Outlets Total Reach 2.6 million Direct Reach

==> picture [70 x 54] intentionally omitted <==

==> picture [53 x 54] intentionally omitted <==

==> picture [73 x 73] intentionally omitted <==

==> picture [66 x 65] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

+ 310 bps EBITDA Margin in last 3 years

Smart Omni channel fulfilment

11 ICMLs operational

| 49 |

Investor Day 2023

ICML: Integrated Consumer Goods Manufacturing and Logistics facility

ITC FMCG

==> picture [75 x 74] intentionally omitted <==

Diverse Portfolio I Purpose-led Brands I Strong Growth Platforms

Branded Packaged Foods

==> picture [215 x 95] intentionally omitted <==

==> picture [100 x 71] intentionally omitted <==

==> picture [119 x 72] intentionally omitted <==

==> picture [44 x 70] intentionally omitted <==

==> picture [73 x 82] intentionally omitted <==

==> picture [55 x 69] intentionally omitted <==

==> picture [218 x 136] intentionally omitted <==

==> picture [69 x 70] intentionally omitted <==

==> picture [54 x 66] intentionally omitted <==

==> picture [31 x 75] intentionally omitted <==

==> picture [51 x 67] intentionally omitted <==

==> picture [42 x 82] intentionally omitted <==

==> picture [96 x 66] intentionally omitted <==

==> picture [32 x 57] intentionally omitted <==

==> picture [161 x 88] intentionally omitted <==

Personal Care Products

==> picture [86 x 69] intentionally omitted <==

==> picture [65 x 52] intentionally omitted <==

==> picture [61 x 88] intentionally omitted <==

==> picture [28 x 74] intentionally omitted <==

==> picture [35 x 64] intentionally omitted <==

==> picture [49 x 61] intentionally omitted <==

==> picture [45 x 56] intentionally omitted <==

==> picture [48 x 39] intentionally omitted <==

==> picture [46 x 58] intentionally omitted <==

==> picture [18 x 53] intentionally omitted <==

==> picture [43 x 43] intentionally omitted <==

==> picture [164 x 48] intentionally omitted <==

Education & Stationery Products

==> picture [270 x 159] intentionally omitted <==

Matches & Agarbatti

==> picture [245 x 116] intentionally omitted <==

| 50 |

Investor Day 2023

==> picture [75 x 74] intentionally omitted <==

Powerful Mother Brands

==> picture [80 x 66] intentionally omitted <==

==> picture [121 x 55] intentionally omitted <==

#1 #1 >8000 cr. In Branded Atta In Cream Biscuits >5000 cr. #1 #1 In Notebooks In Spices >1000 cr.*

#1 #1 #1 In Bridges In Notebooks In Spices #1 #2 #2* In Dhoop In Bodywash In Noodles

==> picture [78 x 78] intentionally omitted <==

==> picture [107 x 57] intentionally omitted <==

==> picture [90 x 28] intentionally omitted <==

Consumer Spends

| 51 |

* In Core operating markets (WB)

Investor Day 2023

Rapid Scale up in Revenues

==> picture [75 x 74] intentionally omitted <==

One of the fastest growing FMCG Businesses in India

==> picture [804 x 382] intentionally omitted <==

----- Start of picture text -----

(` cr.)
Largely driven by Brands developed in-house
----- End of picture text -----

Achieving such scale inorganically would have been > 3x as expensive as per analysts

| 52 |

Investor Day 2023

Sustained improvement in Profitability

==> picture [75 x 74] intentionally omitted <==

==> picture [856 x 346] intentionally omitted <==

----- Start of picture text -----

Full Year Seg. EBITDA Seg. EBITDA Margin %
10.2%
Robust 2000 9.1%
8.9% 10.0%
1800
Purposeful Brand
Innovation Portfolio 1600 7.1% 8.0%
1400
5.5%
1200 4.0% 6.0%
Levers of
1000
4.0%
Margin 2.5%
Power Expansion Operating 800
Of 600 2.0%
Leverage
Digital
400
0.0%
200
456 688 914 1317 1449 1954
265
Supply Chain 0 -2.0%
Efficiencies
FY17 FY18 FY19 FY20 FY21 FY22 FY23
Margins up 770 bps over FY17
----- End of picture text -----

FY23 EBITDA up 35% Vs. 8.4% of Compset

| 53 |

Investor Day 2023

FMCG Strategy Pillars

==> picture [75 x 74] intentionally omitted <==

==> picture [561 x 431] intentionally omitted <==

----- Start of picture text -----

Future
Ready Portfolio
Smart Omni-
Channel Network Insights,
Innovation,
Quality
Agile, Resilient
& Efficient
Purpose-led
Supply Chain
Brands
Value
Accretive
M&A ITC Synergy
----- End of picture text -----

| 54 |

Investor Day 2023

Strong Growth Platforms

==> picture [75 x 74] intentionally omitted <==

==> picture [915 x 340] intentionally omitted <==

----- Start of picture text -----

Fortifying the Addressing New Growth
Core Adjacencies Vectors
----- End of picture text -----

| 55 |

Investor Day 2023

==> picture [75 x 74] intentionally omitted <==

Addressing Value Added Adjacencies | Driving Premiumisation

==> picture [95 x 58] intentionally omitted <==

==> picture [113 x 36] intentionally omitted <==

==> picture [84 x 34] intentionally omitted <==

==> picture [943 x 147] intentionally omitted <==

==> picture [589 x 144] intentionally omitted <==

==> picture [80 x 54] intentionally omitted <==

==> picture [314 x 144] intentionally omitted <==

| 56 |

Investor Day 2023

==> picture [75 x 74] intentionally omitted <==

New Growth Vectors

==> picture [919 x 438] intentionally omitted <==

----- Start of picture text -----

Beverages Homecare Premium Skin Care
Chocolates Frozen Snacks
----- End of picture text -----

| 57 |

Investor Day 2023

Health | Wellness

Hygiene ++, Protection & Care

==> picture [75 x 74] intentionally omitted <==

Natural | Clean Label | Digital First

==> picture [81 x 102] intentionally omitted <==

==> picture [64 x 97] intentionally omitted <==

==> picture [98 x 101] intentionally omitted <==

==> picture [71 x 102] intentionally omitted <==

Healthy Foods

Savlon range

==> picture [229 x 152] intentionally omitted <==

==> picture [155 x 135] intentionally omitted <==

Nimyle range

==> picture [85 x 84] intentionally omitted <==

==> picture [153 x 125] intentionally omitted <==

==> picture [59 x 92] intentionally omitted <==

==> picture [53 x 93] intentionally omitted <==

==> picture [84 x 58] intentionally omitted <==

Personal Wellness & Hygiene

| 58 |

Investor Day 2023

Brands with Purpose

==> picture [195 x 196] intentionally omitted <==

==> picture [197 x 197] intentionally omitted <==

==> picture [196 x 196] intentionally omitted <==

==> picture [198 x 197] intentionally omitted <==

==> picture [289 x 68] intentionally omitted <==

==> picture [197 x 198] intentionally omitted <==

==> picture [196 x 198] intentionally omitted <==

==> picture [196 x 196] intentionally omitted <==

==> picture [197 x 196] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

| 59 |

Investor Day 2023

Brands with Purpose

==> picture [75 x 74] intentionally omitted <==

Sixth Sense Consumer Panel

==> picture [708 x 375] intentionally omitted <==

==> picture [126 x 82] intentionally omitted <==

| 60 |

Investor Day 2023

Smart Omni Channel Network

==> picture [75 x 74] intentionally omitted <==

==> picture [76 x 51] intentionally omitted <==

General Modern Insti, Cash & E-com D2C Quick com Trade Trade Air/Rail carry

==> picture [89 x 32] intentionally omitted <==

==> picture [82 x 32] intentionally omitted <==

==> picture [129 x 60] intentionally omitted <==

==> picture [66 x 18] intentionally omitted <==

==> picture [83 x 22] intentionally omitted <==

==> picture [95 x 25] intentionally omitted <==

==> picture [91 x 31] intentionally omitted <==

==> picture [105 x 29] intentionally omitted <==

==> picture [97 x 30] intentionally omitted <==

==> picture [41 x 42] intentionally omitted <==

==> picture [64 x 35] intentionally omitted <==

==> picture [80 x 44] intentionally omitted <==

==> picture [64 x 38] intentionally omitted <==

==> picture [76 x 35] intentionally omitted <==

==> picture [74 x 41] intentionally omitted <==

==> picture [48 x 48] intentionally omitted <==

==> picture [34 x 34] intentionally omitted <==

==> picture [112 x 56] intentionally omitted <==

| 61 |

Investor Day 2023

Strengthening General Trade

==> picture [345 x 434] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

==> picture [107 x 48] intentionally omitted <==

Strengthening Effectiveness of distribution Strengthening the rural footprint

==> picture [71 x 36] intentionally omitted <==

==> picture [93 x 39] intentionally omitted <==

Direct Engagement with Retailers

==> picture [101 x 181] intentionally omitted <==

==> picture [195 x 136] intentionally omitted <==

==> picture [130 x 12] intentionally omitted <==

----- Start of picture text -----

6.4 lakh downloads
----- End of picture text -----

| 62 |

Investor Day 2023

Winning in Emerging Channels

==> picture [75 x 74] intentionally omitted <==

Fast-tracking E-Com, Q-Com, Cash & Carry

==> picture [248 x 202] intentionally omitted <==

New Routes to Market

==> picture [87 x 99] intentionally omitted <==

==> picture [88 x 98] intentionally omitted <==

==> picture [116 x 48] intentionally omitted <==

==> picture [128 x 47] intentionally omitted <==

==> picture [77 x 32] intentionally omitted <==

==> picture [101 x 56] intentionally omitted <==

==> picture [129 x 40] intentionally omitted <==

==> picture [82 x 32] intentionally omitted <==

Direct Marketing

Strategic Partnerships

==> picture [218 x 181] intentionally omitted <==

==> picture [168 x 36] intentionally omitted <==

==> picture [658 x 131] intentionally omitted <==

Rapid scale up in MT + E-com

| 63 |

Investor Day 2023

End to end Digitalisation

==> picture [82 x 82] intentionally omitted <==

End to end Supply chain Synchronisation & Optimisation

==> picture [198 x 53] intentionally omitted <==

----- Start of picture text -----

Factory Warehouse
----- End of picture text -----

==> picture [97 x 100] intentionally omitted <==

==> picture [92 x 96] intentionally omitted <==

==> picture [74 x 76] intentionally omitted <==

==> picture [90 x 46] intentionally omitted <==

==> picture [81 x 48] intentionally omitted <==

Digitizing Rural Stockist Network

Distributor

==> picture [98 x 100] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

AI/ML enabled models

==> picture [133 x 70] intentionally omitted <==

==> picture [83 x 37] intentionally omitted <==

Trinetra

==> picture [122 x 49] intentionally omitted <==

==> picture [112 x 34] intentionally omitted <==

Retailers

==> picture [152 x 25] intentionally omitted <==

----- Start of picture text -----

Sales Execution Team
----- End of picture text -----

==> picture [97 x 100] intentionally omitted <==

==> picture [97 x 99] intentionally omitted <==

| 64 |

Investor Day 2023

==> picture [148 x 167] intentionally omitted <==

Agri Business

==> picture [315 x 260] intentionally omitted <==

==> picture [315 x 276] intentionally omitted <==

==> picture [341 x 260] intentionally omitted <==

==> picture [126 x 268] intentionally omitted <==

==> picture [88 x 88] intentionally omitted <==

| 65 |

Investor Day 2023

Agri Business

==> picture [33 x 48] intentionally omitted <==

▪ Leading Agri Business player in India

▪ Throughput > 4.5 Mln MT p.a.

==> picture [52 x 41] intentionally omitted <==

▪ 20+ crop value chain clusters in 22 states

==> picture [71 x 71] intentionally omitted <==

▪ India’s largest buyer, processor, consumer & exporter of cigarette tobaccos

(40% of total Indian exports)

==> picture [61 x 27] intentionally omitted <==

▪ Pioneer in Rural Transformation

==> picture [75 x 74] intentionally omitted <==

==> picture [336 x 202] intentionally omitted <==

| 66 |

Investor Day 2023

Agri Business

==> picture [98 x 125] intentionally omitted <==

==> picture [106 x 106] intentionally omitted <==

Sustainable competitive advantage to FMCG & Cigarette Businesses

High quality & cost competitive agrisourcing

NextGen Indian agriculture

FPO-led backend re-engineering | Climate Smart

==> picture [75 x 74] intentionally omitted <==

Transformation Pillars

==> picture [106 x 106] intentionally omitted <==

Future Ready portfolio of valueadded products

Organic, Food safe, Processed | Produce the Buy | Nicotine

ITCMAARS

Hyperlocal solutions for input/output markets | New revenue steams

| 67 |

Investor Day 2023

==> picture [960 x 67] intentionally omitted <==

Paperboards, Paper & Packaging

| 68 |

Investor Day 2023

Paperboards, Paper & Packaging Business

▪ Clear market leader – scale, profitability & sustainability

Best-in-class operating metrics
Fully Integrated Operations
Secure, sustainable & cost competitive fiber base
44% of energy consumption from renewable sources
One stop shop Packaging Solutions provider

==> picture [75 x 74] intentionally omitted <==

Fully Integrated Business Model Icon of Environmental Stewardship

==> picture [317 x 149] intentionally omitted <==

==> picture [315 x 149] intentionally omitted <==

==> picture [317 x 149] intentionally omitted <==

| 69 |

Investor Day 2023

Paperboards, Paper & Packaging Business

Transformation Pillars

==> picture [75 x 74] intentionally omitted <==

Growth

==> picture [101 x 99] intentionally omitted <==

Scale up Value-added portfolio
Greenfield investment – to drive next phase of growth
New West facility for Packaging
Sustainable Paperboard / Packaging Solutions

Cost Agility

==> picture [101 x 99] intentionally omitted <==

In-house chemical pulp & BCTMP
Industry 4.0 & Digital
HPRB, RE investments
Cost-competitive fibre chain
Powerful TPM* | Lean programs

Customization

==> picture [101 x 99] intentionally omitted <==

Solutions for end-use industries - collaborations
Best-in-class service levels
One-stop shop for Packaging solutions

Sustainability at the Core

| 70 |

Investor Day 2023

* Total Productive Maintenance

Integrated Business Model End-to-end Digitalisation

Paperboards & Specialty Papers

==> picture [146 x 143] intentionally omitted <==

==> picture [308 x 136] intentionally omitted <==

----- Start of picture text -----

In-house Pulp HPRB
Import substitution Future-ready | Sustainable
Sustainable Competitive
Advantage
----- End of picture text -----

==> picture [228 x 150] intentionally omitted <==

==> picture [235 x 51] intentionally omitted <==

----- Start of picture text -----

Fibre chain
Secure | Cost-competitive | Sustainable
----- End of picture text -----

==> picture [235 x 51] intentionally omitted <==

----- Start of picture text -----

Manufacturing Excellence
TPM | Lean | Industry 4.0
----- End of picture text -----

==> picture [74 x 68] intentionally omitted <==

==> picture [52 x 52] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

==> picture [230 x 38] intentionally omitted <==

----- Start of picture text -----

Robust forward linkages
----- End of picture text -----

| 71 |

Investor Day 2023

Scaling up Sustainable Packaging Solutions

==> picture [121 x 132] intentionally omitted <==

==> picture [160 x 131] intentionally omitted <==

==> picture [127 x 131] intentionally omitted <==

==> picture [99 x 30] intentionally omitted <==

==> picture [72 x 27] intentionally omitted <==

==> picture [58 x 20] intentionally omitted <==

==> picture [60 x 19] intentionally omitted <==

==> picture [58 x 21] intentionally omitted <==

==> picture [60 x 19] intentionally omitted <==

==> picture [72 x 27] intentionally omitted <==

==> picture [99 x 29] intentionally omitted <==

Biodegradable paperboards

Recyclable paperboards

==> picture [75 x 74] intentionally omitted <==

Premium Moulded Fibre Products

==> picture [117 x 90] intentionally omitted <==

==> picture [120 x 96] intentionally omitted <==

==> picture [120 x 101] intentionally omitted <==

==> picture [120 x 100] intentionally omitted <==

New Facility under construction in MP ^

==> picture [69 x 32] intentionally omitted <==

Replacing plastic containers in food delivery

==> picture [69 x 63] intentionally omitted <==

An easily-recyclable food grade paper that serves as a substitute for aluminium foil

==> picture [109 x 54] intentionally omitted <==

==> picture [54 x 47] intentionally omitted <==

An environment-friendly paper-based tea envelope bag with a 100% biodegradable coating

Foundational investment for

Market development
Tech absorption & evaluation
Crafting sustainable value propositions

| 72 |

Investor Day 2023

^ under ITC Fibre Innovations Limited

Sharp Cyclical correction after rapid scale up

==> picture [75 x 74] intentionally omitted <==

Current year performance impacted

==> picture [334 x 244] intentionally omitted <==

Low priced Chinese supplies in global markets
Drop in Chinese + EU demand
Sharp reduction in global pulp prices
Near term headwinds in domestic wood prices

Business structurally well placed

Global pulp prices likely Green shoots of demand to have bottomed out revival being witnessed

| 73 |

Investor Day 2023

* Annualised based on H1

c. denotes CAGR

Hotels Business

==> picture [608 x 474] intentionally omitted <==

----- Start of picture text -----

ITC Grand Goa
Investor Day 2023
----- End of picture text -----

==> picture [75 x 74] intentionally omitted <==

==> picture [112 x 67] intentionally omitted <==

==> picture [114 x 67] intentionally omitted <==

==> picture [97 x 68] intentionally omitted <==

==> picture [96 x 52] intentionally omitted <==

==> picture [97 x 51] intentionally omitted <==

==> picture [87 x 37] intentionally omitted <==

“Responsible Luxury” ethos woven into Brand Identity

| 74 |

Strategy Refresh c.2018

ITC Hotels

==> picture [48 x 51] intentionally omitted <==

ASSET RIGHT

DIGITAL FIRST

CONTINUED INVESTMENT TO ENHANCE BRAND EQUITY

Key Differentiators

Bouquet of brands • Smart Revenue catering to relevant Management need spaces • Customer Intimacy
Responsible Luxury
Signature cuisines
21 Hotels opened in last • Productivity and
18 Months efficiency
Indigenous Experiences 18 Months
• World Class Loyalty • Strong pipeline Programs – Marriott Bonvoy & Club ITC

==> picture [75 x 74] intentionally omitted <==

Pivot to Asset Right

==> picture [188 x 258] intentionally omitted <==

----- Start of picture text -----

EMPLOYER OF CHOICE
----- End of picture text -----

CAPITAL PRODUCTIVITY

D & I amongst best in industry
Sweating existing assets
Augment new revenue streams • Robust L&D programmes
• Extreme Cost and • Strong Talent Pool
Extreme Cost and Margin focus
Leverage ITC HMI, WGSHA (Manipal)

| 75 |

Investor Day 2023

ITC Next Strategy

Committed to Long-term Value Creation

==> picture [75 x 74] intentionally omitted <==

▪ Driving Scale and Profitability

Future ready portfolio, strong growth platforms, power brands
Agile & purposeful innovation
Accelerating Digital
Building Agile & Resilient Supply Chains for scale
Value Accretive M&A and exports: additional growth vectors

▪ Global Exemplar in Sustainability

Bold Sustainability 2.0 agenda raising the bar

▪ Engaged and motivated World-class Talent pool driven by a ‘proneurial’ spirit

Future Ready

Consumer Centric

Climate Positive

Inclusive

| 76 |

Investor Day 2023

ITC: Enduring Value

==> picture [143 x 124] intentionally omitted <==

==> picture [144 x 110] intentionally omitted <==

A passion for in a way that is Profitable growth... Sustainable…

==> picture [165 x 116] intentionally omitted <==

and Inclusive.

==> picture [75 x 74] intentionally omitted <==

==> picture [257 x 31] intentionally omitted <==

Thank You

| 77 |

Investor Day 2023

==> picture [960 x 67] intentionally omitted <==

==> picture [198 x 258] intentionally omitted <==

Cigarettes Business Devraj Lahiri, Divisional Chief Executive

| 78 |

Investor Day 2023

Cigarettes Business

Tobacco in India – A Unique Environment

Unique Market - Multiple forms of tobacco consumption:
Smoking - Cigarettes, Bidis
Chewing - Khaini, Zarda, Gutkha
India: Per capita consumption of cigarettes is one of the lowest in the world
Legal Cigarettes ~ 9% of total tobacco consumption
However contribute to ~ 80% of Government tobacco tax
- revenue
Legal industry sharply impacted by increase in tax incidence in the past (2013-20)
Sub-optimal tax collections
Illicit – 1/3[rd] of Legal industry
3[rd] largest illicit Cigarette market globally

==> picture [75 x 74] intentionally omitted <==

==> picture [436 x 220] intentionally omitted <==

==> picture [434 x 218] intentionally omitted <==

----- Start of picture text -----

Illicit
1/3 [rd] of Legal
Per Capita Cigarette Other tobacco
Consumption
products
Amongst lowest
Multiple Formats –
globally
High Salience
Cigarette
Cigarette
industry
Industry
----- End of picture text -----

| 79 |

Investor Day 2023

Cigarettes Business

Tax Stability - Increased Revenue while Combating Illicit

==> picture [75 x 74] intentionally omitted <==

▪ Periods of Tax stability

Increased contribution to exchequer from the legal cigarette industry
Improving farmer livelihoods & rural incomes

▪ Recouping volumes from Illicit trade

==> picture [182 x 34] intentionally omitted <==

----- Start of picture text -----

Period of Steep Tax Incr. #1
----- End of picture text -----

==> picture [265 x 168] intentionally omitted <==

# 1 : 2012-13 to 2016-17 {CAGR}

# 2 : Apr 18 to Jan 20 over Jul 17 to Mar 18

Tax Stability #2

==> picture [134 x 168] intentionally omitted <==

==> picture [181 x 34] intentionally omitted <==

----- Start of picture text -----

Period of Steep Tax Incr. #3
----- End of picture text -----

==> picture [266 x 169] intentionally omitted <==

# 3 : Oct 20 to Mar 21 over Aug 19 to Jan 20
# 4 : Apr 22 to Jan 23 over Oct 21 to Mar 22

Tax Stability #4

==> picture [135 x 170] intentionally omitted <==

| 80 |

Investor Day 2023

Cigarettes Business

International Illicit & Contraband remains a concern

==> picture [214 x 229] intentionally omitted <==

==> picture [285 x 269] intentionally omitted <==

==> picture [272 x 143] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

==> picture [372 x 444] intentionally omitted <==

| 81 |

Investor Day 2023

Cigarettes Business

Stability in Taxes & Stricter Enforcement – Combat Illicit

==> picture [75 x 74] intentionally omitted <==

▪ International contraband with non-compliant packaging have proliferated the market with

o varied format & styles

customized to local preferences
Proactive enforcement initiatives underway basis continuous dialogue with various stakeholders
Coupled with a rational & stable tax regime provides an opportunity to claw back volumes from illicit
In past few years, focused portfolio interventions in differentiated formats have been deployed to counter illicit

| 82 |

Investor Day 2023

Cigarettes Business

Cigarettes Business – Robust Recovery

Volumes

==> picture [424 x 207] intentionally omitted <==

----- Start of picture text -----

90000 1.00x
85000
0.96x
80000
75000 0.83x
70000
65000 0.70x
60000
55000
50000
45000

FY13 FY19 FY21 FY23
----- End of picture text -----*

==> picture [352 x 158] intentionally omitted <==

----- Start of picture text -----

•
Relative stability in taxes
•
Claw back from illicit trade
•
Focused portfolio/market interventions
•
Agile execution
----- End of picture text -----

==> picture [75 x 74] intentionally omitted <==

*Low Base

| 83 |

Investor Day 2023

Cigarettes Business

Cigarette Business Imperatives

==> picture [75 x 74] intentionally omitted <==

==> picture [642 x 74] intentionally omitted <==

----- Start of picture text -----

Tobacco Basket
----- End of picture text -----

==> picture [642 x 74] intentionally omitted <==

| 84 |

Investor Day 2023

Cigarettes Business

Key Strategic Levers

FUTURE READY PORTFOLIO

Powerful Trust marks Laddered Portfolio Variety and Premiumization

INTEGRATED SEED TO SMOKE VALUE CHAIN

Agile and Efficient Make In India – Maximize Value Capture Industry 4.0

AGILE INNOVATION

Category Insights Multiple Vectors of Differentiation Intellectual Property

EXCELLENCE IN EXECUTION

Product Superiority Manufacturing Excellence Last Mile Execution

==> picture [75 x 74] intentionally omitted <==

| 85 |

Investor Day 2023

Cigarettes Business

ITC’s Value Model

==> picture [75 x 74] intentionally omitted <==

==> picture [842 x 389] intentionally omitted <==

----- Start of picture text -----

Price & Segment
Laddered Portfolio
Leadership CAPTURE
VALUE
The 3 CV Model
Category Packaging
Insights
Innovation CREATE CONVEY
VALUE VALUE
Aggregation of
Product
Niches
----- End of picture text -----

| 86 |

Investor Day 2023

Cigarettes Business

Multiple Vectors of Differentiation

==> picture [148 x 144] intentionally omitted <==

In-house Innovation capabilities – Variety & Scale

==> picture [147 x 143] intentionally omitted <==

Innovative Solutions

==> picture [147 x 143] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

Premium Modern variants

Integrated Value Chain - Machine Design & Development - Superior Talent Pool

| 87 |

Investor Day 2023

Cigarettes Business

Driving Outcomes

==> picture [285 x 61] intentionally omitted <==

----- Start of picture text -----

CATEGORY INSIGHTS
----- End of picture text -----

==> picture [397 x 389] intentionally omitted <==

----- Start of picture text -----

INNOVATION
MARKET BASED
OPPORTUNITIES DISTINCTIVE
PRODUCTS
INTERNAL S 2 S
CAPABILITIES
REINFORCING
PREMIUMIZATION
CORE
INNOVATION
TRADE INSIGHTS
----- End of picture text -----

==> picture [71 x 52] intentionally omitted <==

Maximizing Potential within 01 Tobacco Industry 02 Combating Illegal and Illicit Trade 03 Enhancing standing among Legal Players

==> picture [75 x 74] intentionally omitted <==

| 88 |

Investor Day 2023

Cigarettes Business

Classic

==> picture [75 x 74] intentionally omitted <==

▪ One of ITC’s leading King Size Trademarks

40+ years in the market yet Vibrant and Contemporary
4 new variants launched in the last 5 years contribute to ~25% of its portfolio
Innovation leader in Formats, Pack Styles & Product Types
Recent introductions like Classic Connect and Alphatec leveraged through ITCs capabilities in advanced filter technology and agile manufacturing

| 89 |

Investor Day 2023

Cigarettes Business

Gold Flake

==> picture [75 x 74] intentionally omitted <==

▪ Largest Trademark in ITC’s portfolio

▪ Over 100 years of Legacy and Trust

Trademark Operating across multiple segments, geographies and price points

▪ New launches in the last 5 years across segments account for ~19% of its portfolio

▪ Recent introductions like Gold Flake Mixpod, Indie M, Smart leveraged through ITCs capabilities in inhouse advanced filter technology and capsule manufacturing

| 90 |

Investor Day 2023

Cigarettes Business

A Leader in Every Market

==> picture [75 x 74] intentionally omitted <==

==> picture [880 x 338] intentionally omitted <==

----- Start of picture text -----

Micro American
Navy Cut
Market Strategy
Club
Bristol Silk Cut
Price
Laddering A LEADING
LOCAL BRAND
Capstan Scissors
IN EVERY
GEOGRAPHY
Regional Flake Players
Customization
----- End of picture text -----

| 91 |

Investor Day 2023

Cigarettes Business

Strong & Vibrant Portfolio : Leading Brand in Every Market Segment

==> picture [75 x 74] intentionally omitted <==

Insignia | Classic Blue Leaf | Classic Connect | Gold Flake Neo

50 + Brands Classic Gold Flake India Kings B&H | 555 Rs.150 & above (8 Offers) (7 offers) (2 Offers) (3 Offers) Rs.110 – Rs.140 Classic Gold Flake American Club Wills | Navy Cut (2 Offers) (2 Offers) (7 Offers) (2 Offers) Rs.70 – Rs.100 Gold Flake Wave Wills | Navy Cut Player’s Flake | Bristol Scissors Capstan Lucky Strike (13 Offers) (5 Offers) (6 Offers) (6 Offers) (10 Offers) (2 Offers) (4 Offers) (1 Offer) 100+ Innovative launches in 5 years Gold Flake Bristol Duke Berkeley Scissors Capstan Silk Cut (11 Offers) (2 Offers) (2 Offers) (2 Offers) (1 Offer) (3 Offers) (3 Offer) Rs.40 – Rs.60 Flake Player’s Navy Cut Royal (8 Offers) (2 Offers) (3 Offers) (4 Offers)

100+ Innovative launches in 5 years

| 92 |

Investor Day 2023

Cigarettes Business

Innovation, Premiumization key drivers of ITC’s growth

==> picture [75 x 74] intentionally omitted <==

==> picture [901 x 435] intentionally omitted <==

----- Start of picture text -----

New launch offers have increased >5x
over the last 5 years and now
6x
account for ~17% of the overall volumes
3x
1x
Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23
----- End of picture text -----

| 93 |

Investor Day 2023

Cigarettes Business

ITC’s unmatched reach at scale

==> picture [75 x 74] intentionally omitted <==

Unmatched Brand availability – Range & Scale

ITC Brands Available across 7Mn+ outlets with ~120 SKUs

==> picture [172 x 77] intentionally omitted <==

==> picture [65 x 66] intentionally omitted <==

Unprecedented rise of new age startups 6,40,000+ outlets serviced daily

Possible through an extensive network of ➢ Over 10,000+ Re-distribution Channel partners customized for micro geographies ➢ 8,200+ mobile Units servicing ‘Bharat’

Extensive direct network reaching to over 1.4 lac markets

Leveraging technology at all nodes to drive efficiency & agility with Scale

| 94 |

Investor Day 2023

Cigarettes Business

Seed to Smoke ITCs Integrated Value Chain –

==> picture [75 x 74] intentionally omitted <==

Leveraging institutional competencies for creating sustainable competitive advantage

==> picture [65 x 65] intentionally omitted <==

==> picture [38 x 38] intentionally omitted <==

==> picture [116 x 17] intentionally omitted <==

ILTD PRODUCT MACHINE DEVELOPMENT TM&D Leaf Growing Filter Development In-house design Last & Processing (Joint Venture) Execution PSPD & PPD INDIGENOUS CAPABILITY MANUFACTURING Paper and Packaging Capsule Manufacturing Final Product Development

Last Mile Execution

MANUFACTURING Final Product Development

==> picture [43 x 43] intentionally omitted <==

==> picture [38 x 38] intentionally omitted <==

==> picture [37 x 38] intentionally omitted <==

| 95 |

Investor Day 2023

Cigarettes Business

Cutting Edge R&D Capability

==> picture [387 x 450] intentionally omitted <==

----- Start of picture text -----

State-of-the-art
IS:17025
80 scientists
accredited
Analytics Labs
Winning with
World Class
R&D
‘Seed to Smoke’
24 patents granted
value chain
~60 more in
expertise
progress
----- End of picture text -----

==> picture [75 x 74] intentionally omitted <==

| 96 |

Investor Day 2023

Cigarettes Business

Manufacturing Excellence

==> picture [71 x 46] intentionally omitted <==

Speedy Product Development & Prototyping

Fully equipped Center for Process Development (CPD) – flavours, capsules, filters & blends

==> picture [75 x 74] intentionally omitted <==

==> picture [56 x 56] intentionally omitted <==

‘Cutting Edge’ Facilities

Volume, Variety, Flexibility & Agility
▪ Zero Defect Execution
Digital Augmentation

Domain Expertise

Ingredients, special filters

Skill Enhancement

Alternate formats
Talent Pool
Continuous upskilling supported by immersive technologies - AR/VR/ML

In-house Machine Design and Development

| 97 |

Investor Day 2023

Cigarettes Business

==> picture [75 x 74] intentionally omitted <==

Agile & Integrated Manufacturing Ecosystem

==> picture [224 x 138] intentionally omitted <==

==> picture [142 x 110] intentionally omitted <==

==> picture [479 x 175] intentionally omitted <==

----- Start of picture text -----

State of the Art Automation & Industry 4.0
Initiatives
Distributed, Agile
& Flexible
Manufacturing
Sustainability –
Renewables & Automation
Safety
----- End of picture text -----

==> picture [181 x 38] intentionally omitted <==

----- Start of picture text -----

State of the Art
Manufacturing Facilities
----- End of picture text -----

Cobots

==> picture [112 x 13] intentionally omitted <==

----- Start of picture text -----

Tobacco Processing
----- End of picture text -----

==> picture [134 x 89] intentionally omitted <==

==> picture [118 x 98] intentionally omitted <==

==> picture [119 x 89] intentionally omitted <==

==> picture [219 x 38] intentionally omitted <==

----- Start of picture text -----

Cutting edge technologies for
Operational Excellence
----- End of picture text -----

Online 360° Pack Inspection

==> picture [388 x 151] intentionally omitted <==

----- Start of picture text -----

Skill Development Real Time
–
Centers of Feedback – AI &
Excellence ML
In-house
Capability -
Capsules &
Specialty Filters
----- End of picture text -----

Capsule & Specialty Filters

==> picture [171 x 86] intentionally omitted <==

==> picture [228 x 133] intentionally omitted <==

AR/VR/MR - Immersive Experience

Cigarette Manufacturing

| 98 |

Investor Day 2023

Cigarettes Business

Automation & Digital Initiatives

==> picture [75 x 74] intentionally omitted <==

| 99 |

Investor Day 2023

Cigarettes Business

An exemplar in Sustainability

==> picture [75 x 74] intentionally omitted <==

==> picture [96 x 83] intentionally omitted <==

==> picture [96 x 84] intentionally omitted <==

==> picture [82 x 74] intentionally omitted <==

57% total energy requirements and 67% electrical energy requirements met through renewable sources (Solar, Wind and Biowaste) in 22-23

Use of Industry 4.0 for optimizing performance of Wind Turbine Generators and efficiency improvement in energy and water consumption in factories.

All owned Factories Platinum IGBC Green Factory Building Certified (highest level)

==> picture [171 x 114] intentionally omitted <==

==> picture [171 x 73] intentionally omitted <==

▪ “Leadership in Performance” Award under Wind category by CII – Bengaluru Factory

“ ▪ Platinum Award winner” in by National Occupation Health Safety Awards – Ranjangaon Factory

" ▪ National Energy Leader " award for Excellence in Energy Management by CII – Kidderpore factory

| 100 |

Investor Day 2023

Cigarettes Business

Nation First : Widely Recognized Sustainability & Safety Initiatives

==> picture [75 x 74] intentionally omitted <==

CONFEDERATION OF INDIAN INDUSTRY (CII)	CONFEDERATION OF INDIAN INDUSTRY (CII)	INDIAN CHAMBER OF COMMERCE	NATIONAL SAFETY COUNCIL OF INDIA (NSCI)	CONFEDERATION OF INDIAN INDUSTRY (CII- ER)
*‘National Leader Award’ for* *Excellence in Energy* *Management*	*’Leadership in Performance’* *Award under Wind category*	*‘Platinum Award winner’ in* *by National Occupation* *Health Safety Awards*	*‘‘Shrestha Suraksha* *Puraskar - Silver Award’* *from NSCI under Safety* *awards in manufacturing* *sector*	*‘Winner of SHE Excellence* *Award’*
KIDDERPORE	BENGALURU	KIDDERPORE	RANJANGAON	KIDDERPORE

| 101 |

Investor Day 2023

Cigarettes Business

Reinforced Market Standing & Expanding Category Share

==> picture [75 x 74] intentionally omitted <==

Leveraging institutional strengths of Leaf Procurement, Printing & Packaging & insightful R&D for creating long-term sustainable advantage through innovation & differentiated products
Strengthening the Portfolio on the basis of superior category insights and Micro market strategies
Capitalizing Technological and Manufacturing leadership for Agility & Competitiveness enhanced by Digital interventions & Industry 4.0
Maintaining competitive advantage through differentiated portfolio, superior product quality and unmatched last mile execution

| 102 |

Investor Day 2023

Cigarettes Business

==> picture [960 x 67] intentionally omitted <==

Thank You

| 103 |

Investor Day 2023

Cigarettes Business

==> picture [960 x 71] intentionally omitted <==

==> picture [730 x 144] intentionally omitted <==

| 104 |

==> picture [960 x 67] intentionally omitted <==

Our Purpose:

Is to “Help India Eat Better”. We demonstrate this through our obsession to offer great quality products & exciting innovations that are science-based & consumer-led; prepared using carefully chosen ingredients; made the right way, to taste better & do better.

Investor Day 2023

| 105 |

Foods Business

==> picture [45 x 45] intentionally omitted <==

Business Highlights

==> picture [45 x 46] intentionally omitted <==

Future Growth Vectors

==> picture [45 x 46] intentionally omitted <==

Our Strategy to Win Fortifying the Core Building Categories/Propositions of the Future Driving profitable growth

==> picture [75 x 74] intentionally omitted <==

Investor Day 2023

| 106 |

Foods Business

– ITC Foods One of India’s Leading Foods Businesses

Fastest Growing Foods Company 1.8X Growth vs Foods Industry Source – RMS NIQ

3/4th of Indian retail carries ITC Food brands Source: RMS NIQ

Sunfeast adding more households than any other FMCG brands Source: Kantar World Panel

Net Revenue over 10 years: Growth 3.4X CAGR 13%

3 out of 4 Indian households consume ITC Food products Source: Kantar World Panel

==> picture [75 x 74] intentionally omitted <==

Investor Day 2023

| 107 |

Foods Business

Building World class Indian brands

==> picture [75 x 74] intentionally omitted <==

==> picture [805 x 111] intentionally omitted <==

==> picture [929 x 110] intentionally omitted <==

==> picture [790 x 111] intentionally omitted <==

Investor Day 2023

| 108 |

Foods Business

Healthy performance by both existing and new engines of growth

==> picture [75 x 74] intentionally omitted <==

==> picture [904 x 372] intentionally omitted <==

----- Start of picture text -----

Power brands sustaining growth for the Existing Business New growth engines growing faster
12.0%
CAGR
47.0%
3.1X
CAGR
7.0X
X
X
2013 2023 2018 2023
Categories launched since 2015
----- End of picture text -----

Investor Day 2023

| 109 |

Foods Business

Recognition (1/2)

==> picture [455 x 419] intentionally omitted <==

----- Start of picture text -----

Marketing
----- End of picture text -----

==> picture [75 x 74] intentionally omitted <==

==> picture [456 x 420] intentionally omitted <==

----- Start of picture text -----

Digital Marketing
----- End of picture text -----

110

Investor Day 2023

| 110 |

Foods Business

Recognition (2/2)

Manufacturing

==> picture [170 x 206] intentionally omitted <==

==> picture [170 x 137] intentionally omitted <==

Global Kaizen™Award: 3rd Prize – LISBON (Among top companies from 60 countries)

==> picture [265 x 139] intentionally omitted <==

==> picture [149 x 125] intentionally omitted <==

40 Kaizen Awards- CII TPM Club Competitions across All ICMLs

Integrated Manufacturing Excellence: IMexIDistinguished Prize (Gold Medallion)

==> picture [75 x 74] intentionally omitted <==

Procurement

==> picture [97 x 126] intentionally omitted <==

==> picture [113 x 125] intentionally omitted <==

==> picture [221 x 125] intentionally omitted <==

Globoil Award for Veg Oil Institutional Consumer Company of the Year

ELSC Award for Best in Class Supply Chain Visibility

==> picture [100 x 117] intentionally omitted <==

==> picture [100 x 115] intentionally omitted <==

==> picture [76 x 114] intentionally omitted <==

==> picture [69 x 114] intentionally omitted <==

==> picture [69 x 116] intentionally omitted <==

ISCM Awards for Best Digitization in Sourcing, Resilient Procurement Function of the Year, and Best Gender Diversity Initiative

Investor Day 2023

| 111 |

Foods Business

==> picture [45 x 45] intentionally omitted <==

Business Highlights

==> picture [45 x 46] intentionally omitted <==

Future Growth Vectors

==> picture [45 x 46] intentionally omitted <==

Our Strategy to Win Fortifying the Core Building Categories/Propositions of the Future Driving profitable growth

==> picture [75 x 74] intentionally omitted <==

Investor Day 2023

| 112 |

Foods Business

4 Future growth vectors

==> picture [75 x 74] intentionally omitted <==

==> picture [792 x 146] intentionally omitted <==

----- Start of picture text -----

1 2 3 4
Unbranded to Penetrating Building Newer Future ready
Branded conversion Emerging Markets Avenues portfolio
----- End of picture text -----

Investor Day 2023

| 113 |

Foods Business

Future growth vectors

==> picture [75 x 74] intentionally omitted <==

==> picture [940 x 421] intentionally omitted <==

----- Start of picture text -----

1. Unbranded to Branded conversion 2. Penetrating Emerging Markets 3. Building Newer Avenues
2023 F&B Split
E-Com X 53% 2.3X
Unbranded Branded 2021 CAGR 2023
Salience 5% 10%
82% 18%
Cold Chain
> Macro tailwinds:
• Higher GDP,
• Conducive Demographics,
> Need for Hygienic Food products
• Higher Literacy,
> Need for Consistent Quality • Lower unemployment.
Exports
> Easy access to eCom & D2C 68 Countries
1. Expertise in Branded Conversion 1. W ide Distribution Network
Acquisitions
2. Staples Category Understanding 2. Tailored Product Development
ITC’S Strength 3. High Quality Sourcing
----- End of picture text -----

Investor Day 2023

| 114 |

Foods Business

Future growth vectors

==> picture [75 x 74] intentionally omitted <==

==> picture [915 x 419] intentionally omitted <==

----- Start of picture text -----

4. Building Future Ready Portfolio for India 1+ by leveraging emerging consumer needs
FMCG Population split
India 1+
Curate portfolio to cater to the affluent India
FMCG spends 2.4X 4%
ITC’S Strength
India 2 1. Agile Real Time Consumer Insighting 6th Sense
FMCG spends X 18%
2. Premium Consumer Understanding ITC
Hotels
3. R&D Excellence
& LSTC
India 3 + rural
78%
FMCG spends 0.5X
Source – Kantar & Bintix
----- End of picture text -----

Investor Day 2023

| 115 |

Foods Business

==> picture [45 x 45] intentionally omitted <==

Business Highlights Future Growth Vectors

==> picture [45 x 46] intentionally omitted <==

Our Strategy to Win Fortifying the Core Building Categories/Propositions of the Future Driving profitable growth

==> picture [75 x 74] intentionally omitted <==

Investor Day 2023

| 116 |

Foods Business

1. Fortifying the Core

==> picture [75 x 74] intentionally omitted <==

==> picture [960 x 323] intentionally omitted <==

----- Start of picture text -----

01. 02. 03. 04.
Addressing Launching Winning Crafting
Local Cultures
Adjacencies Value Added Offers white spaces
Case in point -
----- End of picture text -----

Investor Day 2023

| 117 |

Foods Business

1. Strengthening Aashirvaad’s presence in the Kitchen through adjacencies

==> picture [959 x 471] intentionally omitted <==

----- Start of picture text -----

Millets
Pure and Blended Besan & Rava
Spices
Salt Vermicelli
Ghee Organic Dals
Fresh Dairy:
Milk, Dahi, Paneer
1. Addressing Adjacencies
Investor Day 2023 Foods Business | 118 |
----- End of picture text -----

| 118 |

2. Up-trading the consumers by creating newer vectors of value addition

==> picture [75 x 74] intentionally omitted <==

==> picture [925 x 413] intentionally omitted <==

----- Start of picture text -----

Superior
Organic
Quality
Health and Customization
Wellness
Millets Convenience
----- End of picture text -----

2. Launching Value Added Offers

Investor Day 2023

| 119 |

Foods Business

3. Winning Local cultures– CCM [Culture Centric Marketing] approach

==> picture [75 x 74] intentionally omitted <==

==> picture [911 x 247] intentionally omitted <==

----- Start of picture text -----

Gathering region specific Understanding role of Developing product Crafting culturally Creating 360 degree
cultural insights food in cultural context specific to the market relevant communication impact
----- End of picture text -----

3. Winning Local cultures

Investor Day 2023

| 120 |

Foods Business

3. Sunrise & Sunfeast capturing newer markets through CCM

==> picture [75 x 74] intentionally omitted <==

Key Consumer Insights

State Specific Products

Culturally relevant communication

Assam

Haah Salkumra is the traditional delicacy of Assam
It is time & effort intensive dish to make
It has the spirit of indulgence

Blend to make traditional Haah Salkumara (Assamese Duck Curry)

Assam: Ravi Sharma

Bihu celebrations- Assam

Tamilnadu

Milk biscuits = Goodness of Milk
Consumers do not want change in taste
Desi Cow Milk gaining traction in TN
Desi Cow Milk = Most potent

Leading to Sunfeast Supermilk with ‘Naatu Maatu Paal’

Sunfeast Supermilk crafted for Tamilnadu
Pack designed to cue local culture
‘Naatu maatu paal’

TV Campign with Sneha & Simran IPL association with CSK ‘Strong Milk Biscuits’

3. Winning Local cultures

Investor Day 2023

| 121 |

Foods Business

4. Identified & nurtured the white space of millets through “ITC Mission Millets”

==> picture [75 x 74] intentionally omitted <==

Consumers had multiple barriers to adopt millets

==> picture [442 x 358] intentionally omitted <==

----- Start of picture text -----

Lack of familiarity with millets
Knowledge gap around recipes
However, barriers to consumer adoption revolve around
Skepticism around taste & ease of digestion
----- End of picture text -----

However, there interest towards Millets was on rise

==> picture [412 x 157] intentionally omitted <==

Increasing conversations within consumers Also, there were external tailwinds led by UN & GOI

==> picture [166 x 165] intentionally omitted <==

4. Crafting white spaces

Investor Day 2023

| 122 |

Foods Business

==> picture [75 x 74] intentionally omitted <==

4. ‘ITC Mission Millets’ was designed to Educate, Encourage & Empower adoption of Millets

==> picture [323 x 412] intentionally omitted <==

----- Start of picture text -----

Encouraging usage via Recipes
Partnership with TOI and Chef Kunal Kapur
Millet & Urad Dal Pancakes
(using Aashirvaad Multi-Millet Mix)
----- End of picture text -----

==> picture [296 x 78] intentionally omitted <==

----- Start of picture text -----

Empowering by making Millets
accessible
Crafting millet-based products catering to
multiple meal occasions
----- End of picture text -----

Educating Consumers

==> picture [199 x 339] intentionally omitted <==

==> picture [75 x 94] intentionally omitted <==

==> picture [73 x 92] intentionally omitted <==

==> picture [67 x 83] intentionally omitted <==

==> picture [78 x 29] intentionally omitted <==

==> picture [52 x 66] intentionally omitted <==

==> picture [78 x 28] intentionally omitted <==

==> picture [282 x 102] intentionally omitted <==

----- Start of picture text -----

Available at Rs5/ 10
----- End of picture text -----

4. Crafting white spaces

Investor Day 2023

| 123 |

Foods Business

==> picture [45 x 45] intentionally omitted <==

Business Highlights Future Growth Vectors

==> picture [45 x 46] intentionally omitted <==

Our Strategy to Win Fortifying the Core Building Categories/Propositions of the Future Driving profitable growth

==> picture [75 x 74] intentionally omitted <==

Investor Day 2023

| 124 |

Foods Business

Building Future ready Propositions through Innovation - powered by Agile & Real Time Consumer Insighting

==> picture [75 x 74] intentionally omitted <==

==> picture [805 x 358] intentionally omitted <==

----- Start of picture text -----

Next Gen AI/ML Engine
----- End of picture text -----

| 125 |

Investor Day 2023

Foods Business

==> picture [75 x 74] intentionally omitted <==

1. New Product development addressing evolving consumer needs

==> picture [942 x 432] intentionally omitted <==

----- Start of picture text -----

Convenience & On-the-Go Good for You Indulgence
Fabelle Finesse – World’s
Smoothest Chocolate Fabelle Gift Bouquet
Lactose Free Milk
Protein Slices Tasty Millet Cookies
Organic Range with end-to-end Traceability Mithai in Smaller Portions
----- End of picture text -----

1. New Product Devleopment

| 126 |

Investor Day 2023

Foods Business

→ ..also, delivering on the purpose of ‘Help India Eat Better’ resulting in No. 1 ATNI Rank

ATNI Index measures the performance of companies on 58 indicators across the 7 categories

==> picture [294 x 283] intentionally omitted <==

----- Start of picture text -----

Rankings
1st
9th
2020 2023
----- End of picture text -----

==> picture [92 x 92] intentionally omitted <==

Product Nutrition Governance Accessible and Affordable Healthy Products Responsible Marketing Workforce Nutrition Labelling Policy Engagement

==> picture [92 x 92] intentionally omitted <==

ITC Ranked 1 among 20 of the largest Indian F&B Manufacturers

==> picture [75 x 74] intentionally omitted <==

1. New Product Devleopment

| 127 |

Investor Day 2023

Foods Business

2. Breaking the clutter using innovative Media Approach

==> picture [75 x 74] intentionally omitted <==

1. Personalized targeting at scale

2. Leveraging meme culture for youth

==> picture [925 x 174] intentionally omitted <==

3. Community Building

4. Developing Content Destination

==> picture [263 x 123] intentionally omitted <==

24K Members
1.5 Lakh user generated conversations
181K impressions
• 11X increase in stickiness in last 3 months

==> picture [157 x 83] intentionally omitted <==

Total Users: 4 Million
Engaged users: 2.5 Million

==> picture [149 x 148] intentionally omitted <==

==> picture [105 x 149] intentionally omitted <==

2. Clutter Breaking Media Approach

| 128 |

Investor Day 2023

Foods Business

==> picture [75 x 74] intentionally omitted <==

3. Driving consumer engagement by providing immersive Brand Experiences

1. Purpose led experiences

==> picture [300 x 382] intentionally omitted <==

==> picture [578 x 36] intentionally omitted <==

----- Start of picture text -----

2. Personalized experiences using AI
----- End of picture text -----

==> picture [207 x 200] intentionally omitted <==

Be-spoke Packaging High Impact on ground activations

==> picture [142 x 209] intentionally omitted <==

==> picture [155 x 11] intentionally omitted <==

----- Start of picture text -----

• 9 Lakhs plus videos generated
----- End of picture text -----

==> picture [166 x 11] intentionally omitted <==

----- Start of picture text -----

• Participation across town classes
----- End of picture text -----

==> picture [205 x 148] intentionally omitted <==

3. Engaging Brand Experiences

| 129 |

Investor Day 2023

Foods Business

==> picture [45 x 45] intentionally omitted <==

Business Highlights Future Growth Vectors

==> picture [45 x 46] intentionally omitted <==

Our Strategy to Win Fortifying the Core Building Categories/Propositions of the Future Driving profitable growth

==> picture [75 x 74] intentionally omitted <==

| 130 |

Investor Day 2023

Foods Business

Driving Profitable Growth:

==> picture [75 x 74] intentionally omitted <==

==> picture [898 x 240] intentionally omitted <==

----- Start of picture text -----

1 2 3
Smart Manufacturing Improving Value Mix Premiumisation
Capture
----- End of picture text -----

| 131 |

Investor Day 2023

Foods Business

==> picture [75 x 74] intentionally omitted <==

1. Smart Manufacturing: Fully digitized system to drive efficiency & market serviceability

Distributed Manufacturing Network

Digitizing end-to-end value chain

==> picture [395 x 403] intentionally omitted <==

----- Start of picture text -----

ICML
Other Owned
JAMMU
KAPURTHALA
HARIDWAR
BIKANER
AGRA
JAIPUR
GUWAHATI
MUNGER
ULUBERIA
SANKRAIL
PANCHLA
RANJANGAON KHORDA
MEDAK
Nature of Factories No of Units
ICMLs 11
CMUs 96
MALUR Overseas CMUs 2
MYSORE
Other Owned
7
(Munger + Sunrise + Jammu)
Joint Venture (NENPL) 1
PUDUKKOTTAI
Total 117
----- End of picture text -----

==> picture [531 x 367] intentionally omitted <==

| 132 |

Investor Day 2023

Foods Business

2. Agile Cost Management: Capturing Value across the Chain

==> picture [75 x 74] intentionally omitted <==

==> picture [925 x 344] intentionally omitted <==

----- Start of picture text -----

Improving Value Retention Product cost rationalization
•
Project lighthouse: Improving effectiveness •
Industry 4.0 led initiatives to improve material
of Trade spends
efficiency
•
Reducing losses across the value chain •
Smart Sourcing: Timely hedges, reverse auctions
Sweating Out Assets Manufacturing Costs
• Value •
Improved asset utilisations and Return on State-of-the-art Integrated Manufacturing
Capital Employed Capture • facilitiesTapping Renewable sources of energy
Optimising Supply Chain AI for smarter Brand Investments
• •
Distributed Manufacturing facilities closer Advanced bespoke marketing analytical models
to markets • 6 [th] Sense guiding on mix creation, optimization &
deployment
----- End of picture text -----

Investor Day 2023

| 133 |

Foods Business

3. Mix Premiumisation: 1/ 3[rd] of portfolio is premium & growing

==> picture [75 x 74] intentionally omitted <==

==> picture [441 x 36] intentionally omitted <==

----- Start of picture text -----

2. Newer Premium offerings
----- End of picture text -----

1. Premiumisation of existing portfolio

==> picture [897 x 396] intentionally omitted <==

| 134 |

Investor Day 2023

Foods Business

In Summary…

Opportunity

Strategy

==> picture [75 x 74] intentionally omitted <==

Growing shift from unbranded to branded Fortifying the core by addressing adjacencies through Power Brands

Emerging markets witnessing macro economic tailwind

Focus on driving brand penetration through consistent brand building following our CCM approach

Building Newer avenues

Developing newer capabilities for the future : eCom | Cold chain | Exports | Acquisitions

India 1+ seeking products with evolving Building proposition of the future through innovation on back of deep needs consumer insights

Additionally, will continue to drive profitability on the back of: Smart Manufacturing | Improving Value Capture across the Chain using Next Gen AI/ Analytics | Mix Premiumisation

| 135 |

Investor Day 2023

Foods Business

==> picture [960 x 67] intentionally omitted <==

Thank You

| 136 |

Investor Day 2023

Foods Business

==> picture [960 x 67] intentionally omitted <==

==> picture [198 x 258] intentionally omitted <==

Personal Care Products Business Way of Market Development Sameer Satpathy, Divisional Chief Executive

| 137 |

Investor Day 2023

Personal Care Business Portfolio

==> picture [315 x 126] intentionally omitted <==

==> picture [208 x 109] intentionally omitted <==

==> picture [315 x 109] intentionally omitted <==

==> picture [516 x 113] intentionally omitted <==

==> picture [363 x 98] intentionally omitted <==

==> picture [83 x 95] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

==> picture [118 x 49] intentionally omitted <==

==> picture [122 x 39] intentionally omitted <==

==> picture [121 x 99] intentionally omitted <==

==> picture [160 x 99] intentionally omitted <==

----- Start of picture text -----

138
----- End of picture text -----

==> picture [130 x 63] intentionally omitted <==

Nielsen MAT Sept’23 / 21 | 138 |

Investor Day 2023

Personal Care Products Business

==> picture [960 x 67] intentionally omitted <==

Personal Wash 24,000 Crore Industry

3000 Brands | 3500 Variants

==> picture [102 x 41] intentionally omitted <==

==> picture [81 x 81] intentionally omitted <==

==> picture [89 x 90] intentionally omitted <==

==> picture [82 x 33] intentionally omitted <==

==> picture [106 x 47] intentionally omitted <==

==> picture [84 x 52] intentionally omitted <==

==> picture [91 x 51] intentionally omitted <==

==> picture [87 x 29] intentionally omitted <==

==> picture [55 x 54] intentionally omitted <==

==> picture [123 x 51] intentionally omitted <==

==> picture [58 x 69] intentionally omitted <==

==> picture [80 x 37] intentionally omitted <==

==> picture [89 x 29] intentionally omitted <==

==> picture [99 x 65] intentionally omitted <==

==> picture [115 x 58] intentionally omitted <==

==> picture [79 x 58] intentionally omitted <==

==> picture [115 x 39] intentionally omitted <==

==> picture [112 x 36] intentionally omitted <==

==> picture [92 x 49] intentionally omitted <==

Large Competitive Category | Margins under Pressure

| 139 |

Investor Day 2023

Personal Care Products Business

Younger TG
Brighter, Vibrant, Full of Life
Exotic Naturals – Max variety for consumers
• Redefine the Bathing experience
‘JOY OF BATHING’

==> picture [315 x 232] intentionally omitted <==

==> picture [313 x 237] intentionally omitted <==

| 140 |

Investor Day 2023

Personal Care Products Business

Create Space in the Clutter – Differentiated Product

==> picture [960 x 459] intentionally omitted <==

| 141 |

Investor Day 2023

Personal Care Products Business

Shopper Insight : Consumers Buy an Assortment

==> picture [75 x 74] intentionally omitted <==

==> picture [415 x 311] intentionally omitted <==

Multivariant packs
Bright , stand out on shelf packaging
Large assortment – Exciting new variants

==> picture [290 x 125] intentionally omitted <==

----- Start of picture text -----

Personal Care Products Business
----- End of picture text -----

==> picture [144 x 98] intentionally omitted <==

==> picture [121 x 70] intentionally omitted <==

----- Start of picture text -----

Investor Day 2023
----- End of picture text -----

| 142 |

Shift in Channel Mix – Use of Data , Analytics & influencers

==> picture [236 x 450] intentionally omitted <==

• TG was shifting online • Younger & Premium consumers • Over indexed on Ecom , D2C & MT

==> picture [301 x 301] intentionally omitted <==

==> picture [146 x 291] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

| 143 |

Investor Day 2023

Personal Care Products Business

Consumers of Future : Refreshing Opportunities & Segments

==> picture [75 x 74] intentionally omitted <==

==> picture [536 x 298] intentionally omitted <==

| 144 |

Investor Day 2023

Personal Care Products Business

Purpose - How To Feel Good – Mental Wellbeing

==> picture [75 x 74] intentionally omitted <==

==> picture [576 x 296] intentionally omitted <==

The Feel Good with Fiama Program on Mental Well being

| 145 |

Investor Day 2023

Personal Care Products Business

==> picture [643 x 313] intentionally omitted <==

----- Start of picture text -----

Trials
Accelerated growth
Equity
Equity has doubled in
cluttered soap market
Portfolio
----- End of picture text -----

Market Share

Soap: Growth see across markets and channels Overindexed on premium channels, outlets & consumers

Differentiated: Celebrations Packs. Largest Variety Portfolio

| 146 |

Investor Day 2023

Personal Care Products Business

==> picture [960 x 67] intentionally omitted <==

• Gentle formulation with a differentiated “ no Burn” proposition

Acquired in 2015

==> picture [394 x 344] intentionally omitted <==

| 147 |

Investor Day 2023

Personal Care Products Business

A new take on Protection & Care Repositioned brand :

==> picture [75 x 74] intentionally omitted <==

==> picture [694 x 393] intentionally omitted <==

| 148 |

Investor Day 2023

Personal Care Products Business

Savlon School Programme

==> picture [75 x 74] intentionally omitted <==

Purpose :: Healthier Kids. Stronger India. Healthy kids grow up to be successful adults who shape the future of India.

It is therefore our duty to inculcate in them healthy habits and good hygiene practices.

One of largest Primary school engagement program

7.6 Mn Children | 22,422 Schools
82 Towns

| 149 |

Investor Day 2023

Personal Care Products Business

Savlon School Program

==> picture [75 x 74] intentionally omitted <==

==> picture [896 x 400] intentionally omitted <==

| 150 |

Investor Day 2023

Personal Care Products Business

Upgrade Consumers to the Category of Future

==> picture [75 x 74] intentionally omitted <==

SOAP

==> picture [139 x 93] intentionally omitted <==

HAND WASH

Categories of Future = High Margin Take a lead in New Developing Categories Savlon Handwash share 19X of soap

| 151 |

Investor Day 2023

Personal Care Products Business

==> picture [75 x 74] intentionally omitted <==

Covid: Platform based innovation- Speed & Scale due to institutional strengths

==> picture [124 x 27] intentionally omitted <==

----- Start of picture text -----

Wave 2
----- End of picture text -----

==> picture [950 x 437] intentionally omitted <==

----- Start of picture text -----

Wave 1
APR - AUG-
MAY SEP
Savlon Wet wipes &
Moisturizing Sanitizer &
Multipurpose disinfectant liquid
Laundry disinfectant liquid
Savlon Surface disinfectant Laundry Disinfectant
Savlon Hexa range Spray & Wipe, Mask,
Surface disinfectant pocket
JUN- APR -
JUL MAY
Investor Day 2023 Personal Care Products Business | 152 |
----- End of picture text -----

| 152 |

| 153 |

Investor Day 2023

Personal Care Products Business

==> picture [960 x 71] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

One of India’s most awarded Brands

Savlon was among the ten cases recognised globally as Iconic work, in the first ever “ Lions creativity report of the Decade

==> picture [125 x 152] intentionally omitted <==

==> picture [138 x 138] intentionally omitted <==

Grand Prix for “Creative Effectiveness”@ Cannes Lions

1 Gold Effie – for ‘Adding Health to Hands’ at the APAC Effies 2018

==> picture [155 x 104] intentionally omitted <==

==> picture [121 x 74] intentionally omitted <==

1 Silver Effie – when kids and play helped us grow faster at Effies 2019

7 Lions @ Cannes 2017
2 Gold, 1 Silver, 4 Bronze

==> picture [135 x 99] intentionally omitted <==

==> picture [120 x 118] intentionally omitted <==

2023 @ Kyoorious

4 Pencils @ D&AD, London

==> picture [164 x 87] intentionally omitted <==

2 PR Sabres Asia – Pacific; Global PR Sabre

==> picture [90 x 70] intentionally omitted <==

2 Creative Abbys Goa Fest

| 154 |

Investor Day 2023

Personal Care Products Business

Results trajectory shifted

==> picture [75 x 74] intentionally omitted <==

==> picture [939 x 375] intentionally omitted <==

----- Start of picture text -----

4
Business Size
3 ~10 X business
growth in 6
years.
2 Equity & Trust
Scores Zoomed
Faster Growth
1
Activated Markets
Grew 30% faster
155
Share Growth
0 to 11X share in
Handwash
----- End of picture text -----

| 155 |

Investor Day 2023

Personal Care Products Business

Digital Ecosystem to create future ready Innovations

==> picture [75 x 74] intentionally omitted <==

==> picture [837 x 364] intentionally omitted <==

----- Start of picture text -----

CONSUMER INSIGHTS D2C WITH STRONG
COMPETITIVE EDGE
LEADING VALUE PROPOSITION
FOR ITC WITH IN-
TO COMMERCE IN BABY CARE
HOUSE CAPABILITY PREMIUM
INNOVATIONS
WITH D2C PLAY
Community to Commerce Direct to Consumer Brand
Performance Marketing
for Expecting & Young Moms offering Age old wisdom of
2.5 Mn MAU Ayurveda in new age Creative & Graphic Design Dermafique AI based
convenient formats Acquisition & Retention
Personalised Skin Analysis I
Mktg
Premium Innovations I
----- End of picture text -----

Inorganic Partnerships & Learning ground for ITC

Inhouse Capability Building & Premium Innovations on D2C

| 156 |

Investor Day 2023

Personal Care Products Business

==> picture [75 x 74] intentionally omitted <==

Our Strategy to Market Development

==> picture [121 x 137] intentionally omitted <==

==> picture [103 x 107] intentionally omitted <==

First in Category Innovations

Building Brands with Purpose

Drive Growth Ahead of others
Anchoring Brands in larger social & emotional needs

==> picture [62 x 96] intentionally omitted <==

==> picture [43 x 90] intentionally omitted <==

==> picture [116 x 83] intentionally omitted <==

==> picture [98 x 84] intentionally omitted <==

==> picture [82 x 83] intentionally omitted <==

==> picture [110 x 83] intentionally omitted <==

Strategic Levers

Superior Product Quality

Premiumisation

Rigorous Consumer Insighting, Product Platform Technology & Claims
Drive higher margin portfolio: Upgrade consumers

(Bodywashes, Premium Bars, EDT Perfumes)

==> picture [103 x 63] intentionally omitted <==

==> picture [85 x 64] intentionally omitted <==

==> picture [103 x 59] intentionally omitted <==

==> picture [113 x 91] intentionally omitted <==

Winning in Channels of the Future

Ecom is high double digit sales salience

==> picture [145 x 82] intentionally omitted <==

Investor Day 2023

| 157 |

Personal Care Products Business

==> picture [960 x 67] intentionally omitted <==

Thank You

| 158 |

Investor Day 2023

Personal Care Products Business

==> picture [960 x 67] intentionally omitted <==

==> picture [198 x 258] intentionally omitted <==

Agri Business Value-Added Agri Products

S. Sivakumar, Group Head – Agri, IT & Sustainability

| 159 |

Investor Day 2023

New Growth Drivers in Agri Business

==> picture [75 x 74] intentionally omitted <==

Value Added Products
Nicotine & Derivatives in Tobacco
Spices & Other Products in other Agri
ITCMAARS

| 160 |

Investor Day 2023

Value-Added Agri Products

Nicotine & Derivatives

==> picture [127 x 105] intentionally omitted <==

Indian Tobaccos @ Sweet-spot Nicotine Content Vs Price Equation

==> picture [146 x 106] intentionally omitted <==

High barriers to entry for high-end nicotine supply Sustainable Backend + Complex Processing

==> picture [75 x 74] intentionally omitted <==

New Opportunity in Value-added Tobacco

==> picture [202 x 100] intentionally omitted <==

Growth variants using High-end Nicotine products dominated by big players Looking for ESG-compliant supply chains

==> picture [126 x 143] intentionally omitted <==

==> picture [155 x 100] intentionally omitted <==

Conventional Exporters @ Commodity-end

Supply of high-end nicotine won’t keep pace with the rapidly growing demand 2027 Gap = 50% of 2022 Total Market

| 161 |

Investor Day 2023

Value-Added Agri Products

ITC Value Proposition

Integrated Farm-to-Flask / Pouch Model

==> picture [114 x 73] intentionally omitted <==

==> picture [56 x 73] intentionally omitted <==

==> picture [242 x 69] intentionally omitted <==

==> picture [52 x 44] intentionally omitted <==

==> picture [87 x 37] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

==> picture [686 x 336] intentionally omitted <==

----- Start of picture text -----

Farm Supply Chain Nicotine Processing Product / Customer
• •
• State-of-the-Art Purity @ 99.9% is
Embedding
cGMP standard the best in market
Sustainability at
processing facility
Farm level
•
Quality Specs as
• •
Package of Green Energy per US & EU
Practices pharmacopoeia
•
customised to Zero Liquid & Solid
•
micro-regions Waste Discharge Value chain aligned
to ESG deliverables
•
Traceability & •
Technology
Custody •
developed in-house Security of Supplies
----- End of picture text -----

Leading to superior and sustained margins

| 162 |

Investor Day 2023

Value-Added Agri Products

IIVL Nicotine Processing Facility Now Commissioned

==> picture [544 x 13] intentionally omitted <==

----- Start of picture text -----

Investor Day 2023 Value-Added Agri Products
----- End of picture text -----

==> picture [75 x 74] intentionally omitted <==

==> picture [41 x 13] intentionally omitted <==

----- Start of picture text -----

| 163 |
----- End of picture text -----

Four Pillars of ITC’s Strategy for Value Added Agri Products

The Playbook

==> picture [75 x 74] intentionally omitted <==

==> picture [835 x 379] intentionally omitted <==

----- Start of picture text -----

Need-discovery Product Investments in Unique Model of
through deeper Development State-of-the-Art Backward
engagement with Capability Processing Integration
select customers (Business + LSTC) Facilities through ITCMAARS
Together, these capabilities give distinct advantage to ITC
----- End of picture text -----

| 164 |

Investor Day 2023

Value-Added Agri Products

Vectors of Value-addition

…through Deep Engagement with Customers

==> picture [75 x 74] intentionally omitted <==

==> picture [855 x 373] intentionally omitted <==

----- Start of picture text -----

15-20%
Sustainable Formulation per
10-15%
End-use
Production
Traceable to
Extractions
Farms
(Generic/Proprietary)
7- 10%
Identity Primary
Preserved Processing
Margin %
----- End of picture text -----

Order Penetration Point

Custom-Produced

Value Offering Point Custom-Processed

| 165 |

Investor Day 2023

Value-Added Agri Products

The Portfolio

==> picture [75 x 74] intentionally omitted <==

==> picture [616 x 300] intentionally omitted <==

----- Start of picture text -----

Horizon 1 Horizon 2
Spices Coffee
Shrimps Fruits & Vegetables
Wheat-based Medicinal & Aromatic
Plants Extracts
----- End of picture text -----

| 166 |

Investor Day 2023

Value-Added Agri Products

Opportunity to Add Value in Spices

==> picture [141 x 132] intentionally omitted <==

Largest producer of Spices (42% of global) Leader in Chilli, Turmeric & Cumin (60-80%)

==> picture [141 x 112] intentionally omitted <==

Consumer Awareness Health: Spices for Immunity Building Environment: Sustainability & Traceability

…Food Safety is the Mega Trend

==> picture [178 x 112] intentionally omitted <==

USA, EU, Japan have tightened Food Safety Regulations in Spices (Pesticides, Microbial)

==> picture [340 x 179] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

| 167 |

Investor Day 2023

Value-Added Agri Products

Driving Food Safety Across the Value Chain

From Farm to Fork

==> picture [75 x 74] intentionally omitted <==

==> picture [134 x 16] intentionally omitted <==

----- Start of picture text -----

Advisory & Inputs
----- End of picture text -----

==> picture [152 x 106] intentionally omitted <==

IPM, ICM, Organic

==> picture [630 x 165] intentionally omitted <==

----- Start of picture text -----

Sustainability at Source Digital-enabled Sourcing
Soil Management & Biodiversity Custody & Traceability
----- End of picture text -----

==> picture [813 x 196] intentionally omitted <==

----- Start of picture text -----

Pre-processing Processing Sustainability in Processing Testing
Mechanised Destemming Best-in-class Globally Green Energy Diversity Globally Benchmarked
----- End of picture text -----

| 168 |

Investor Day 2023

Value-Added Agri Products

Catering to different Customers & Markets

Both Straight & Blended Spices

==> picture [75 x 74] intentionally omitted <==

Steam Sterilised Custom Blended Private Label Packs Organic Safe from Micro-organisms 400+ Ingredient Library 0.7 Gm to 5 KGs In-house Projects

==> picture [124 x 91] intentionally omitted <==

Servicing 100+ Customers in 35+ Countries Across Food Service, Industrial, Ingredient and Retail Segments

==> picture [160 x 36] intentionally omitted <==

==> picture [79 x 61] intentionally omitted <==

| 169 |

Investor Day 2023

Value-Added Agri Products

Value-Added Agri Products | 170 |

Investor Day 2023

==> picture [960 x 71] intentionally omitted <==

Problems in Agriculture

==> picture [75 x 74] intentionally omitted <==

Multi-stakeholder View

==> picture [763 x 338] intentionally omitted <==

----- Start of picture text -----

Farm Input Seller
Ineffective Demand Forecast
New Product Intro Expensive
Farmer
Financial Services Provider AgTech Startups
Unremunerative Farming
Credit Risk Assessment Synch with Other Solutions
Depleting Natural Resources
Delivery & Scale Up
Cost of Delivery
Climate Change
Farm Output Buyer
Broken Demand Signals
Produce Traceability to Farms
----- End of picture text -----

| 171 |

Investor Day 2023

Value-Added Agri Products

One Solution Fits All

==> picture [75 x 74] intentionally omitted <==

If all the stakeholders get on to a common platform and deal directly, they can solve one-another’s problems

==> picture [51 x 46] intentionally omitted <==

The Platform needs to be convened and managed by someone, who has the incentive and power to do that

| 172 |

Investor Day 2023

Value-Added Agri Products

The ITC Advantage

==> picture [75 x 74] intentionally omitted <==

==> picture [770 x 381] intentionally omitted <==

----- Start of picture text -----

Faster Speed to Market
Physical Reach: 100,000 Villages in 220 Districts
Reduced Cost of
Connect with 4 Million Farmers via Sanchalaks
Customer Acquisition
Creative
Intimate Knowledge of 20+ Crop Value Chains Monetisation Models
----- End of picture text -----

| 173 |

Investor Day 2023

Value-Added Agri Products

ITC MAARS Phygital Ecosystem

==> picture [75 x 74] intentionally omitted <==

| 174 |

Investor Day 2023

Business Name

ITCMAARS Progress & Impact

1.1 Mn Farmers, 1250 FPOs, 9 States

==> picture [75 x 74] intentionally omitted <==

==> picture [898 x 346] intentionally omitted <==

----- Start of picture text -----

Platform Agri Output
Agri Inputs
Market price dissemination and Crop stage wise input-kits basis
Real-time pest detection and
solution (Crop Doctor) scientific quality assaying farmer and farm profiling
Lean supply chain to connect Spraying Services using Drones
Intelligent nudge for contextual
farmers directly to factory and Soil testing based Nutrients
advisory (Crop Calendar)
Credit to FPOs and farmers
Farmgate sorting and pre-
Hyperlocal weather forecast
directly through Partner Banks
and alerts processing at FPOs
----- End of picture text -----

| 175 |

Investor Day 2023

Value-Added Agri Products

Quick Walk-through of the ITCMAARS Super App

==> picture [256 x 457] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

| 176 |

Investor Day 2023

Value-Added Agri Products

==> picture [960 x 67] intentionally omitted <==

==> picture [605 x 364] intentionally omitted <==

----- Start of picture text -----

Benefits to Farmers Value to ITC
Productivity Improvement Cost-Quality Optimisation
Cost Reduction Traceability in Sourcing
Efficient Price Discovery New Platform Businesses
----- End of picture text -----

| 177 |

Investor Day 2023

Value-Added Agri Products

==> picture [960 x 67] intentionally omitted <==

==> picture [198 x 258] intentionally omitted <==

Hotels Business Anil Chadha, Divisional Chief Executive

| 178 |

Investor Day 2023

Hotels Business

ITC Hotels Group

India’s Pre-eminent Hospitality Chain

==> picture [75 x 74] intentionally omitted <==

131 Hotels | 80 Destinations | 12000 Rooms

Upper Upscale

Mid to Upscale

Boutique

Heritage

Luxury

==> picture [143 x 93] intentionally omitted <==

==> picture [125 x 67] intentionally omitted <==

==> picture [134 x 71] intentionally omitted <==

==> picture [127 x 67] intentionally omitted <==

==> picture [109 x 69] intentionally omitted <==

==> picture [188 x 62] intentionally omitted <==

==> picture [368 x 232] intentionally omitted <==

----- Start of picture text -----

ITC GrandChola
----- End of picture text -----

==> picture [351 x 232] intentionally omitted <==

----- Start of picture text -----

| 179 |
ITC Narmada
----- End of picture text -----

Hotels that define the destinations

| 179 |

Investor Day 2023

Hotels Business

ITC HOTELS : India’s Pre-eminent Hospitality Chain

==> picture [75 x 74] intentionally omitted <==

ITC’s Hotel Groupis one of the	Category	Brands	Keys %
leading providersofhospitalityin
		ITC HOTELS
theluxury spacewith a	LUXURY	MEMENTOS	38%
substantial presencein the	UPPER UPSCALE	WELCOMHOTEL
			23%
upscale,mid-marketandheritage	BOUTIQUE	STORII
segments	MID SCALE	FORTUNE	39%
	HERITAGE	WELCOMHERITAGE

| 180 |

Investor Day 2023

Hotels Business

==> picture [75 x 74] intentionally omitted <==

Brand Equity: One Unifying symbol across the Hotels business

==> picture [528 x 447] intentionally omitted <==

N A M A S T E

| 181 |

Investor Day 2023

Hotels Business

ITC Hotels

CONTINUED INVESTMENT TO ENHANCE BRAND EQUITY

Key Differentiators

Indigenous Experiences
Signature cuisines
Responsible Luxury
World Class Loyalty Programs – Marriott Bonvoy & Club ITC

ASSET RIGHT

Bouquet of brands catering to relevant need spaces
22 Hotels opened in past 24 Months
Strong pipeline

==> picture [75 x 74] intentionally omitted <==

Pivot to Asset Right

DIGITAL FIRST CAPITAL EMPLOYER OF CHOICE PRODUCTIVITY Smart Revenue • Sweating existing assets • D & I amongst best in Management • Augment new revenue industry Customer Intimacy streams • Robust L&D programmes Productivity and • Extreme Cost and • Strong Talent Pool efficiency Margin focus ‒ Leverage ITC HMI, WGSHA (Manipal)

• Smart Revenue Management

Customer Intimacy
• Productivity and efficiency

| 182 |

Investor Day 2023

Hotels Business

| 183 |

Investor Day 2023

Hotels Business

==> picture [960 x 71] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

==> picture [280 x 40] intentionally omitted <==

Globe’s finest Indian & India’s finest Global Cuisine

==> picture [915 x 237] intentionally omitted <==

==> picture [215 x 215] intentionally omitted <==

| 184 |

Investor Day 2023

Hotels Business

==> picture [960 x 67] intentionally omitted <==

==> picture [110 x 132] intentionally omitted <==

An exclusive restaurant with an opulent décor that brings you a fine collection of vegetarian dishes based on the ancient Indian system of seasonal cooking.

==> picture [228 x 350] intentionally omitted <==

==> picture [252 x 170] intentionally omitted <==

==> picture [252 x 168] intentionally omitted <==

Chennai, Kolkata, & Ahmedabad

| 185 |

Investor Day 2023

Hotels Business

==> picture [960 x 67] intentionally omitted <==

==> picture [123 x 78] intentionally omitted <==

‘Yi’ means ‘to change’ and ‘Jing’ means ‘the classic’. The master chefs at Yi Jing expand on this culinary philosophy by reimagining and reinterpreting ancient recipes from across the diverse regions of China, with a special focus on Sichuan and . Hunan provinces

==> picture [357 x 405] intentionally omitted <==

==> picture [188 x 142] intentionally omitted <==

==> picture [189 x 127] intentionally omitted <==

==> picture [188 x 125] intentionally omitted <==

Hyderabad, New Delhi, Ahmedabad & Mumbai

| 186 |

Investor Day 2023

Hotels Business

==> picture [960 x 67] intentionally omitted <==

==> picture [220 x 87] intentionally omitted <==

A first-of-its-kind open kitchen that culminates in an exclusive blend of South Indian delicacies that are both traditional and progressive, and served in a sophisticated ambience.

==> picture [346 x 404] intentionally omitted <==

==> picture [229 x 404] intentionally omitted <==

Chennai & Kolkata

Opening shortly- Mumbai & New Delhi

| 187 |

Investor Day 2023

Hotels Business

Sleep Expertise

Sleep like a baby

==> picture [75 x 74] intentionally omitted <==

• The Sleep Food menu

Specially crafted by our Chefs with expertise of our Scientists at ITC LSTC , Bangalore.

• Bed Ensemble

An extensive pillow menu to suit diverse needs
Quality linen
Mattress comfort
Black out curtains

Zero light penetration into the rooms

• Shower pressure

Optimal pressure to soothe and relax the nerves

Decibel levels

==> picture [510 x 303] intentionally omitted <==

Rooms optimised to 35 db.

| 188 |

Investor Day 2023

Hotels Business

Responsible Competitiveness

==> picture [75 x 74] intentionally omitted <==

Following the Group’s Philosophy the Hotels business integrated ‘Sustainability’

& ‘Luxury’.

Thus was born ‘Responsible Luxury’

‘Luxury’ enriched by delivering it in a

manner. ‘Responsible’

==> picture [96 x 12] intentionally omitted <==

----- Start of picture text -----

Investor Day 2023
----- End of picture text -----

==> picture [128 x 9] intentionally omitted <==

----- Start of picture text -----

ITC GRAND CHOLA, CHENNAI
----- End of picture text -----

==> picture [84 x 10] intentionally omitted <==

----- Start of picture text -----

Hotels Business
----- End of picture text -----

| 189 |

Responsible Luxury

==> picture [210 x 128] intentionally omitted <==

ALL our Owned hotels are LEED Platinum Certified

==> picture [75 x 74] intentionally omitted <==

==> picture [525 x 452] intentionally omitted <==

----- Start of picture text -----

ITC Grand Chola
----- End of picture text -----

| 190 |

Investor Day 2023

Hotels Business

Responsible Luxury

==> picture [64 x 58] intentionally omitted <==

ITC Mughal, Agra & ITC Sonar, Kolkata are the 1[st] in the world to be LEED Zero Water Certified Hotels

==> picture [321 x 324] intentionally omitted <==

----- Start of picture text -----

ITC SONAR, KOLKATA
----- End of picture text -----

==> picture [321 x 322] intentionally omitted <==

----- Start of picture text -----

ITC MUGHAL, AGRA
----- End of picture text -----

==> picture [75 x 74] intentionally omitted <==

| 191 |

Investor Day 2023

Hotels Business

Responsible Luxury

==> picture [106 x 99] intentionally omitted <==

THE WORLD’S FIRST 12 LEED ZERO CARBON HOTELS BELONG TO ITC’S HOTEL GROUP AWARDED BY U.S GREEN BUILDING COUNCIL

Responsible Luxury

==> picture [959 x 459] intentionally omitted <==

----- Start of picture text -----

More than half of
electricity consumption is
through renewable sources
----- End of picture text -----

Hotels Business

| 193 |

Investor Day 2023

Responsible Luxury

SINGLE USE PLASTIC Eliminating 2.5 Lakh Kg Annually

15 Million plastic water bottles
1.5 Million straws
0.8 Million stirrers
Housekeeping & Room Plastic Amenities

==> picture [266 x 175] intentionally omitted <==

==> picture [203 x 201] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

==> picture [229 x 305] intentionally omitted <==

==> picture [93 x 87] intentionally omitted <==

Sun yaAqua

In-house plants across ITC Hotels, Provide world standard, fresh, treated drinking water supplies in reusable glass bottles – travelling Zero Distance.

| 194 |

Investor Day 2023

Hotels Business

Responsible Luxury

==> picture [206 x 93] intentionally omitted <==

Emission(KgCO2e) ITC Hotels 57 Kg Per Room Night 80 Per Sqm (Current Level) Target – COP 21 65 Kg Per Room Night 129 Per Sqm (2030) Already surpassed 2030 GHG sectoral emission targets set COP 21 as per

==> picture [75 x 74] intentionally omitted <==

==> picture [316 x 455] intentionally omitted <==

| 195 |

Investor Day 2023

Hotels Business

==> picture [175 x 103] intentionally omitted <==

Asset Right: Poised For Robust Growth

==> picture [639 x 527] intentionally omitted <==

----- Start of picture text -----

FR
Mementos, Ekaaya Udaipur
----- End of picture text -----

Hospitality Industry in a Strong Upcycle

India - Supply and Demand CAGR

==> picture [386 x 151] intentionally omitted <==

----- Start of picture text -----

Supply CAGR Demand CAGR 10.5%
7.1%
6.2%
5.5%
FY16 - FY23 FY24 - FY27
----- End of picture text -----

Source: Horwath HTL

==> picture [75 x 74] intentionally omitted <==

Strong industry recovery

==> picture [417 x 189] intentionally omitted <==

Source: HVS Anarock

Growing societal aspirations

==> picture [361 x 143] intentionally omitted <==

----- Start of picture text -----

Growing per Capita Income
2021 2031
2010
$2278 $5,242
$1,360
Growing Urbanization
2010 2021 2031
31% 35% 40%
----- End of picture text -----

Source: Analyst reports

Low Room Supply Penetration

==> picture [385 x 161] intentionally omitted <==

| 197 |

Investor Day 2023

Hotels Business

Hospitality Industry – Ample headroom for Growth

==> picture [75 x 74] intentionally omitted <==

Foreign Tourist Arrivals (FTA)

==> picture [811 x 245] intentionally omitted <==

----- Start of picture text -----

79.4
10.9
71.7
9.0
50.9 49.8
6.2
30.7
28.5 27.8
22.7 22.3
11.2 1.5
6.2
2019 2021 2022 2023 E
----- End of picture text -----

FTAs in 2022 (In mn)

FTAs in India (In mn)

Huge opportunity for growth in the Indian Tourism Industry

FTAs for 2023 are still below 85% of pre-pandemic level

| 198 |

Investor Day 2023

Hotels Business

Hospitality Industry – Buoyant Domestic Demand

==> picture [75 x 74] intentionally omitted <==

Govt’s thrust on Infra Domestic Air Passen er Traffic Domestic Tourist visits g 1. Tourism in mission mode - Indian Tourism industry projected to reach USD 1 232 In crore Period : Jan to Oct trillion by 2047 12.6 In crore 173 2. UDAN (Ude Desh ka Aam Nagrik) – improved regional air 11.8 connectivity 68 3. Swadesh Darshan Scheme – to develop sustainable & responsible destinations Source: DGCA 2019 2023 2019 2021 2022 Source: MoT 4. Revival of 50 additional +6% over Pre-pandemic level 2023 visits estimated to airports. reach 2019 levels 5. Development of 50 Tourism destinations

6. National Tourism Policy in final stages

Investor Day 2023

| 199 |

Hotels Business

Growth based on Asset Right Approach

==> picture [75 x 74] intentionally omitted <==

❑ 20% of Inventory < 5 years old (Gestating):
✓ Occ 56% Vs 72% in case of Gestated Hotels

✓ Significant headroom to drive RevPar Growth

❑ Owned Capacity augmentation in early 2024: ✓ Welcomhotel Chennai – Renovated 90 Keys ✓ ITC Ratnadipa, Colombo - 352 Keys

❑ Robust pipeline of Managed Hotels:

✓ 35 Hotels, 3200+ Keys

❑ Scale up of F&B:

✓ 2 New restaurants opened, 3 in pipeline in FY24

==> picture [465 x 279] intentionally omitted <==

----- Start of picture text -----

ITC Kohenur
----- End of picture text -----

❑ Selective Greenfield / Brownfield projects:

✓ Plans for ~ 300 rooms currently being explored

| 200 |

Investor Day 2023

Hotels Business

Managing Hotels: Our Right To Win

ITC Hotels Legacy ~ 5 Decades of Hospitality

Bouquet of Brands Across Segments

Food & Beverage Smart Revenue Supremacy Management

World Class Digital Infrastructure

Strong Talent Pool

Sustainability Leadership

Strong Loyalty & Distribution

Robust Processes & Brand Standards

==> picture [75 x 74] intentionally omitted <==

==> picture [308 x 194] intentionally omitted <==

Welcomhotel by ITC Hotels, Jim Corbett

==> picture [315 x 201] intentionally omitted <==

Storii by ITC Hotels, Shanti Morada, Goa

| 201 |

Investor Day 2023

Hotels Business

==> picture [75 x 74] intentionally omitted <==

Growth Pipeline: 35 Hotels, 3200+ Keys

==> picture [925 x 102] intentionally omitted <==

==> picture [878 x 74] intentionally omitted <==

----- Start of picture text -----

1 Hotel 2 Hotels 6 Hotels 6 Hotels 18 Hotels 3 Hotels
352 Keys 287 Keys 738 Keys 213 Keys 1,532 Keys 111 Keys
----- End of picture text -----

22 Opened Hotels in the past 24 months (Jan 2022 – Dec 2023)

Expected to open 25 Hotels in the next 24 months (Jan 2024 – Dec 2025)

Targeting to reach 200 hotels with 18000 keys over 5 years, with 2/3[rd] keys in the Managed Portfolio

==> picture [221 x 233] intentionally omitted <==

----- Start of picture text -----

Keys
Luxury
20%
Upper
Midscale and
Midscale Upper Upscale
50% and Upscale
30%
----- End of picture text -----

| 202 |

Investor Day 2023

Hotels Business

Accelerating Growth in the Premium Segment

==> picture [75 x 74] intentionally omitted <==

Managed Hotels Portfolio mix (Upscale to Luxury)

==> picture [563 x 293] intentionally omitted <==

----- Start of picture text -----

3.4 X
2.6 X
1.4 X
X
----- End of picture text -----

Managed keys in the premium segment

In the next 5 years, the premium hotel keys would constitute 45% of the total managed portfolio, up from 30% today.
Premium = Upscale, Upper-upscale and Luxury

| 203 |

Investor Day 2023

Hotels Business

New Hotels in the Making

==> picture [75 x 74] intentionally omitted <==

Investor Day 2023

| 204 |

Hotels Business

New Hotels in the Making

Mementos, Jaipur

==> picture [545 x 381] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

==> picture [305 x 223] intentionally omitted <==

==> picture [295 x 216] intentionally omitted <==

| 205 |

Investor Day 2023

Hotels Business

New Hotels in the Making

WelcomHotel Belagavi

==> picture [429 x 289] intentionally omitted <==

----- Start of picture text -----

Artistic impression
----- End of picture text -----

==> picture [75 x 74] intentionally omitted <==

STORII Sirmour

==> picture [401 x 315] intentionally omitted <==

| 206 |

Investor Day 2023

Hotels Business

Relaunch post complete make over

WelcomHotel Chennai

==> picture [532 x 354] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

==> picture [350 x 199] intentionally omitted <==

==> picture [350 x 217] intentionally omitted <==

| 207 |

Investor Day 2023

Hotels Business

Leveraging Power of Digital – Guest Experience

Best in Class Mobile App

•Industry Leading Features
•Single window for hotel services

State of the art Brand Website

•Contemporary design and technology
•Unified brand access drives conversion

Frictionless Guest Experience

•In-Room Automation*
•Seamlessly Integrated Online - Offline Journey

Advanced Distribution Platform

•Seamlessly Distributing Across All Global Channels
•Own GDS Code

==> picture [75 x 74] intentionally omitted <==

NextGen CRM

•Integrated Sales | Marketing | Service
•Personalized Marketing

Superior Loyalty Platform

•Instant Gratification
•Pan ITC Redemption Options

Progressive Cloud Application Stack

•Quick On-Boarding New Hotels | Reduced IT Infra Capex
•Standardization for Consistent Guest Experience

World-Class Marketing Command Centre

•Cutting Edge Social Media Tools & Analytics Platform
•Sixth Sense – Enabling Targeted Customer Engagement

| 208 |

Investor Day 2023

Hotels Business

*Available in select hotels

Service Excellence

What gets measured, gets Focused

What gets focused, gets Improved

==> picture [279 x 166] intentionally omitted <==

What gets improved, gets Recognized

What gets recognized, gets Institutionalised

*** Source: Revinate**

Online Review Rating*

==> picture [324 x 140] intentionally omitted <==

----- Start of picture text -----

4.8
4.77
4.74
4.69
4.68
4.62
ITC Hotels & Industry average
Welcomhotels
----- End of picture text -----

Net Promoter Score (NPS)

==> picture [345 x 132] intentionally omitted <==

----- Start of picture text -----

77
80
70
58
60
50
40
30
20
----- End of picture text -----

ITC Hotels

Global Average

==> picture [75 x 74] intentionally omitted <==

| 209 |

Investor Day 2023

Hotels Business

New Revenue Streams

==> picture [310 x 212] intentionally omitted <==

==> picture [201 x 61] intentionally omitted <==

Sleeep Boutiques across 7 ITC Hotels* offering Luxury Sleep Merchandise

*ITC Maurya, ITC Maratha, ITC Grand Central, ITC Grand Chola , ITC Windsor, ITC Kohenur & ITC Royal Bengal

==> picture [306 x 211] intentionally omitted <==

==> picture [208 x 99] intentionally omitted <==

Gorumet Couch across all ITC Hotels & Sheraton New Delhi, An exciting vertical born out of the Hard times of the Pandemic. Delivering High Quality Cuisine to homes via ITC App, Direct and E-com Channels. Gourmet

==> picture [75 x 74] intentionally omitted <==

==> picture [301 x 205] intentionally omitted <==

==> picture [177 x 51] intentionally omitted <==

ITC Club Prive across 6 ITC Hotels*, By-invite only program with bespoke experience.

*ITC Maurya, ITC Maratha, ITC Narmada, ITC Windsor, ITC Kohenur & ITC Royal Bengal

Hotels Business

| 210 |

Investor Day 2023

Future Fit Talent Management

ITC HMI, Gurgaon

==> picture [370 x 264] intentionally omitted <==

Founded in 1976, the ITC Hospitality Management Institute (HMI) has transformed young leaders into world-class hoteliers.

==> picture [75 x 74] intentionally omitted <==

Welcomgroup Graduate School of Hotel Administration, Manipal

==> picture [398 x 309] intentionally omitted <==

Founded in 1987, Ranked among the best hospitality and Hotel Management Schools in the world for 202223 by CEOWORLD magazine.

| 211 |

Investor Day 2023

Hotels Business

==> picture [960 x 67] intentionally omitted <==

==> picture [288 x 216] intentionally omitted <==

----- Start of picture text -----

ITC MAURYA
----- End of picture text -----

==> picture [287 x 216] intentionally omitted <==

----- Start of picture text -----

ITC MARATHA
----- End of picture text -----

Robust Financial Performance

==> picture [288 x 216] intentionally omitted <==

----- Start of picture text -----

ITC GARDENIA
----- End of picture text -----

==> picture [292 x 216] intentionally omitted <==

----- Start of picture text -----

ITC GRAND BHARAT
----- End of picture text -----

Fastest Growing Indian Hospitality Business

==> picture [335 x 439] intentionally omitted <==

----- Start of picture text -----

Room Inventory Rapid scale up
Richer Mix
Owned keys Managed keys
12000+
12000
10000
8000 6471
6000
4472
4000
2322
5533
2000
2150
0
FY03 Current
EBITDA (in Rs cr.) CAGR: 15%
900
800 852
700
600
500
400
300 385
313
200
100
0 53
FY03 FY10 FY19 FY23
----- End of picture text -----

Consolidated Segment financials

==> picture [336 x 445] intentionally omitted <==

----- Start of picture text -----

Revenue (in Rs cr.) CAGR: 11%
3000
2500 2689
2000
1500 1747
1000
978
500
0 349
FY03 FY10 FY19 FY23
EBIT (in Rs cr.) CAGR: 17%
600
500 557
400
300
200 231
186
100
22
0
FY03 FY10 FY19 FY23
----- End of picture text -----

==> picture [75 x 74] intentionally omitted <==

| 213 |

Investor Day 2023

Hotels Business

₹ in Cr

==> picture [75 x 74] intentionally omitted <==

Emerging Stronger Post Pandemic

==> picture [861 x 458] intentionally omitted <==

----- Start of picture text -----

739 809
574
+29% 31% +63% 34%
28% 495
21%
Q4
FY’23
Revenue EBITDA % Revenue EBITDA %
Q3 FY20 Q3 FY23 Q4 FY20 Q4 FY23
625
675
33%
+52% +51% 31%
412 446
17%
20%
Q2
FY’24
Revenue EBITDA %
Revenue EBITDA %
Q2 FY20 Q2 FY24
Q1 FY20 Q1 FY24
----- End of picture text -----

==> picture [64 x 58] intentionally omitted <==

----- Start of picture text -----

Q3
FY’23
----- End of picture text -----

==> picture [64 x 59] intentionally omitted <==

----- Start of picture text -----

Q1
FY’24
----- End of picture text -----

==> picture [77 x 10] intentionally omitted <==

----- Start of picture text -----

Consolidated
----- End of picture text -----

Investor Day 2023

| 214 |

Hotels Business

Superior Competitive Performance Post Pandemic

==> picture [75 x 74] intentionally omitted <==

==> picture [484 x 232] intentionally omitted <==

----- Start of picture text -----

+24%
+18%
10497
9167
8472
7786
ITC Hotels Compset
2019-20 2022-23 2019-20 2022-23
----- End of picture text -----

==> picture [464 x 236] intentionally omitted <==

----- Start of picture text -----

+31% +29%
7394
6660
5645
5149
ITC Hotels Compset
2019-20 2022-23 2019-20 2022-23
----- End of picture text -----

==> picture [141 x 37] intentionally omitted <==

----- Start of picture text -----

ARR
----- End of picture text -----

==> picture [141 x 37] intentionally omitted <==

----- Start of picture text -----

RevPAR
----- End of picture text -----

Source: STR

| 215 |

Investor Day 2023

Hotels Business

ITC Hotels – Capital Efficiency

==> picture [353 x 249] intentionally omitted <==

----- Start of picture text -----

ROCE %
16%
5%
4%
18-19 19-20 22-23
----- End of picture text -----*

* Gestated Hotels

Sweating Existing Assets
Drive higher RevPAR growth
Scale up of Management contracts
Selective Capacity addition/ acquisitions
Extreme Cost & Margin focus

==> picture [75 x 74] intentionally omitted <==

Standalone

| 216 |

Investor Day 2023

Hotels Business

Accelerating Path to Profitability

ITC Kohenur - 274 Rooms

Revenue leader in market within 2 years of Launch
EBITDA Positive – Year 1
PBT Positive – Year 2

==> picture [335 x 293] intentionally omitted <==

* Except Covid impacted period

==> picture [277 x 316] intentionally omitted <==

ITC Royal Bengal - 456 Rooms

Revenue leader in market within 2 years of Launch
EBITDA positive – Year 1
• PBT Positive – Year 2[*]

==> picture [75 x 74] intentionally omitted <==

ITC Narmada - 291 Rooms

ARR leader in market
EBITDA Positive - Year 1

==> picture [287 x 304] intentionally omitted <==

| 217 |

Investor Day 2023

Hotels Business

Driving Margin Expansion

Productivity & Efficiency

==> picture [75 x 74] intentionally omitted <==

==> picture [745 x 200] intentionally omitted <==

----- Start of picture text -----

Payroll Cost Energy Cost
28% 7%
23%
6%
FY20 FY23
FY20 FY23
----- End of picture text -----

==> picture [763 x 207] intentionally omitted <==

----- Start of picture text -----

Other Operating Cost Raw Material Cost % of F&B Revenue
32% 25%
22%
29%
FY20 FY23
FY20 FY23
----- End of picture text -----

Standalone Cost as % Revenue from Operations

| 218 |

Investor Day 2023

Hotels Business

Awards & Accolades

==> picture [75 x 74] intentionally omitted <==

==> picture [105 x 106] intentionally omitted <==

==> picture [122 x 129] intentionally omitted <==

CONDÉ NAST TRAVELLER- THE GOLD LIST 2023

TRAVEL + LEISURE INDIA'S BEST AWARDS 2022

ITC Grand Chola, Chennai

Best Luxury Hotel Chain (Domestic) - ITC Hotels (For the sixth consecutive year)
Best New Hotel (Domestic) - ITC Narmada
Editor’s Choice award for the Best Hotel for Weddings
(Domestic) - ITC Grand Goa

ASIA’S TOP 100 RESTAURANTS 2023

Avartana, ITC Grand Chola and Bukhara, ITC Maurya voted in Asia’s 100 Best Restaurants.

==> picture [122 x 112] intentionally omitted <==

Best Hotel Loyalty Programme (Domestic) - Club ITC

==> picture [130 x 53] intentionally omitted <==

FREDDIE AWARDS 2022

CONDÉ NAST READERS TRAVEL AWARDS 2022

(Middle East & Asia / Oceania Region)

Favourite Indian Hotel for Food & Drink-ITC Maurya, New Delhi
Club ITC was recognised as the “Program of the Year”,
Favourite Restaurant in an Indian Hotel-Bukhara, ITC Maurya, New Delhi
“Best Elite Program”, “Best Promotion” and “Best Redemption Ability”

| 219 |

Investor Day 2023

Hotels Business

==> picture [75 x 74] intentionally omitted <==

Exclusive Food & Beverage Partner at the G20 Summit

==> picture [307 x 426] intentionally omitted <==

The Largest and the most exclusive catering in Indian Hospitality ever

==> picture [329 x 226] intentionally omitted <==

==> picture [316 x 227] intentionally omitted <==

==> picture [216 x 160] intentionally omitted <==

==> picture [201 x 160] intentionally omitted <==

| 220 |

Investor Day 2023

Hotels Business

==> picture [960 x 67] intentionally omitted <==

==> picture [272 x 252] intentionally omitted <==

THANK YOU

| 221 |

Investor Day 2023

Hotels Business

==> picture [960 x 67] intentionally omitted <==

==> picture [168 x 251] intentionally omitted <==

==> picture [167 x 251] intentionally omitted <==

==> picture [166 x 251] intentionally omitted <==

==> picture [168 x 251] intentionally omitted <==

Food-Tech

Building digital-first fresh food brands & business

| 222 |

Investor Day 2023

Business NameFood-Tech Business

Trends shaping rapid growth of online food delivery

==> picture [75 x 74] intentionally omitted <==

==> picture [907 x 409] intentionally omitted <==

----- Start of picture text -----

Digital Adoption
Increase in internet and online buyer base
Fast-paced Lifestyle
35-40 B$
Higher ordering frequency
4-5x
CAGR
14-17
8-9 B$ 2022-25 – 22%
Food-Tech Ecosystem
Expanding reach within India
2025-30 – 19%
2022 2025 2030
Online Share 11-13% 15-17% 20-22%
----- End of picture text -----

Source: e-conomy India 2023 Report by Google, Bain & Company and Temasek

| 223 |

Investor Day 2023

Business NameFood-Tech Business

Fragmented Supply, QSR dominance in their Cuisine

==> picture [75 x 74] intentionally omitted <==

==> picture [419 x 193] intentionally omitted <==

----- Start of picture text -----

Dine-in Restaurants (~90%)
Revenue upside of 25-30% with delivery
Cloud Kitchens (~10%)
Products & Processes designed for delivery
----- End of picture text -----

==> picture [422 x 259] intentionally omitted <==

----- Start of picture text -----

25%
Share of Cuisine
Share of Top 5 brands in the Cuisine
15%
10% 10% 10%
8% 75% 10% 15% 15%
North Indian Pizza & Burgers South Indian Biryani Chinese & Asian
----- End of picture text -----

Dearth of chains in Indian cuisine with <3 outlets per brand on average today on aggregator platforms

Chef’s skill dependence, lack of standardization in North Indian cuisine limiting it’s scalability

| 224 |

Investor Day 2023

Business NameFood-Tech Business

Cloud Kitchens: Better scalability, unique challenges

==> picture [75 x 74] intentionally omitted <==

==> picture [789 x 430] intentionally omitted <==

----- Start of picture text -----

Scalability Drivers Unique Challenges
Delivery only, not on high-street Brand Awareness & Trust
Avenues to deliver experience
Lower footprint with high space optimization
[command a premium]
Multi-brand operations Quality & Consistency at scale
SOP driven processes with limited skill
No direct consumer touchpoint
deployment
----- End of picture text -----

| 225 |

Investor Day 2023 Business NameFood-Tech Business

Cloud Kitchens: Better scalability, unique challenges

==> picture [75 x 74] intentionally omitted <==

==> picture [840 x 431] intentionally omitted <==

----- Start of picture text -----

Unique Challenges Key Success Enablers
Brand Awareness & Trust Trustworthy Brand
Avenues to deliver experience
Expertise for differentiation in product and
[command a premium] packaging
Quality & Consistency at scale Industrialization Capabilities
No direct consumer touchpoint Multi-touchpoint Model
----- End of picture text -----

| 226 |

Investor Day 2023 Business NameFood-Tech Business

Rationale for ITC’s foray into Food-Tech

==> picture [531 x 322] intentionally omitted <==

----- Start of picture text -----

•
Culinary
Expertise
•
Large market,
Fit with ITC’s
poised for FMCG Food
Institutional
long-term Brands
Strengths
growth
----- End of picture text -----

Curate high quality, differentiated products
Strong equity in Indian Cuisine
Established Brand Salience & Trust
Amenable to fresh food adjacencies

==> picture [124 x 124] intentionally omitted <==

----- Start of picture text -----

Food
Science &
Manufacture
----- End of picture text -----

Industrial RTE/Frozen Capabilities
Deep food science know-how

==> picture [75 x 74] intentionally omitted <==

| 227 |

Investor Day 2023

Business NameFood-Tech Business

==> picture [75 x 74] intentionally omitted <==

Synergy Flywheel: Creating ITC’s Right to Win

==> picture [385 x 427] intentionally omitted <==

----- Start of picture text -----

Agri
Sourcing
Digital Packaging
Capability Design
Food Tech
Food Culinary
Science Expertise
FMCG
Food
Brands
----- End of picture text -----

Brand Equity & Innovation Pipeline for FMCG Food Brands

Portfolio of packaging solutions for fresh food delivery

Digital-first approach for PMF testing and garnering consumer feedback for future FMCG products

| 228 |

Investor Day 2023

Business NameFood-Tech Business

Adopted Lean Startup Approach for testing PMF

==> picture [75 x 74] intentionally omitted <==

Date-driven Experimentation

==> picture [419 x 299] intentionally omitted <==

----- Start of picture text -----

Pre-Launch
Opportunity Identification, Brand Concept
Launch
Visibility and promotions strategy
Post-Launch
Funnel, marketing ROI and growth strategy
----- End of picture text -----

==> picture [473 x 327] intentionally omitted <==

----- Start of picture text -----

Authentic Taste, Gourmet
Master Chef Recipes
North Indian World of Bakery
Global formats,
adapted for Indian
Palate
Home-style Recipes,
Wholesome & Pure Veg
Comfort Indulgent
Occasional
Daily
----- End of picture text -----

| 229 |

Investor Day 2023

Business NameFood-Tech Business

World of ITC’s Signature Creations

==> picture [141 x 144] intentionally omitted <==

==> picture [142 x 145] intentionally omitted <==

==> picture [142 x 147] intentionally omitted <==

==> picture [142 x 146] intentionally omitted <==

==> picture [141 x 145] intentionally omitted <==

==> picture [143 x 147] intentionally omitted <==

==> picture [141 x 145] intentionally omitted <==

==> picture [140 x 144] intentionally omitted <==

==> picture [142 x 146] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

==> picture [141 x 145] intentionally omitted <==

==> picture [143 x 147] intentionally omitted <==

| 230 |

Investor Day 2023 Business NameFood-Tech Business

Garnered High Consumer Love

==> picture [75 x 74] intentionally omitted <==

1 Mn+ orders successfully delivered

Top Rated on Swiggy (95[th] percentile)

Brand	Rated Orders (#)	Avg. Rating*
ITC Master Chef Creations	~34k	4.3+
Sunfeast Baked Creations	~16k	4.5+
Aashirvaad Soul Creations	~13k	4.3+

Swiggy average for all outlets, QSRs average ~4.1

Zomato Order, ITC Master Chef Creations

“I don't think 5 stars are sufficient for such a good quality food. It's been around 2 months since I came to Bengaluru but the first time when I felt that I ate something authentic. I could literally get the taste of all the ingredients in the food. I rate it 7 stars”

Swiggy Order, Sunfeast Baked Creations

“Authentic French croissant taste as we get from a local bakery in France ..”

“ I love the feeling when I have my first bite of garlicky bagel. I can't express it but everyone should try it... I love it”

Swiggy Order, ITC Master Chef Creations

“ Excellent service by both ITC Bellandur branch (Mr.Prakash) and by Swiggy customer care. We placed a bulk order last minute for a Team lunch, but they went above and beyond to ensure they deliver it in the shortest time. The packaging was very sophisticated and to the mark. Last but not the least, food was fresh and tasty...just loved everything!!!”

“Liked environment friendly packing with minimal use of plastic. I have a question, is there a way I can return the glass bottle!”

Swiggy Order, Aashirvaad Soul Creations

“Khichdi tasted just like home , loved it.”

| 231 |

Investor Day 2023

Business NameFood-Tech Business

Disciplined growth plan, aligned to principles of lean startup

==> picture [75 x 74] intentionally omitted <==

Multiple Drivers of Growth

Brand Building Digital-focused, hyperlocal [ Top of the funnel ]

Geographic Expansion Region by region [ Operational UE validation ]

==> picture [58 x 61] intentionally omitted <==

==> picture [58 x 60] intentionally omitted <==

Portfolio Expansion Occasions, Cuisines & Brands [ Conversions ] Channel Expansion

==> picture [58 x 61] intentionally omitted <==

Physical touchpoints, D2C, ONDC [Multi-touchpoint model]

==> picture [58 x 60] intentionally omitted <==

OUR VISION

Satiate the diverse tastes of urban consumers with delicious, wholesome, and aspirational culinary creations at the convenience of their location.

| 232 |

Investor Day 2023

Business NameFood-Tech Business

==> picture [960 x 67] intentionally omitted <==

Enjoy Our Delicacies!

We hope to delight Mumbai soon..

| 233 |

Investor Day 2023

Business NameFood-Tech Business

==> picture [960 x 67] intentionally omitted <==

Sustainable Packaging Solutions

December 12, 2023

| 234 |

Investor Day 2023

Paperboards & Packaging Businesses

Sustainable Packaging Drivers

==> picture [75 x 74] intentionally omitted <==

The Impact of Plastics

Global Production of Plastic (2022) 159 Mn Tons

Global Plastic Waste 68.5 Mn Tons

12 Countries contribute 52% India is one among them

==> picture [459 x 226] intentionally omitted <==

On July 28, 2023, the Earth saw its first Plastic Overshoot Day

Mismanagement of Plastic Waste in India ~ 7.3 Mn Ton

waste management capacity

www.plasteax.earth A platform for plastic environmental analytics, providing global leakage and waste management metrics

| 235 |

Investor Day 2023

Paperboards & Packaging Businesses

Sustainable Packaging Drivers

==> picture [75 x 74] intentionally omitted <==

Multiple Levers of Impact

Regulations

Plastic Waste Management
• Single Use Plastic Ban
Extended Producer Responsibility

Societal Activism

Influencers
Activists demands on greater accountability

==> picture [314 x 292] intentionally omitted <==

Corporate Commitments

Voluntary disclosures & targets for plastic Packaging reduction

Brand Image

Share of wallet of the conscious consumer

| 236 |

Investor Day 2023

Paperboards & Packaging Businesses

Addressing The Plastic Issue – Some Trends & Opportunity Size

==> picture [75 x 74] intentionally omitted <==

==> picture [581 x 432] intentionally omitted <==

----- Start of picture text -----

Complex
E.g. : Natural material like
bamboo, seaweed
BiodegradabilityBiodegradability ReductionReduction
Re-use/ Re-use/
Substrate Change ₹20,000
Alternative Refill
Crores
E.g. : Shifting to Paper
Materials
Compostability Recyclability Recyclability
Bio-based feedstock
E.g. : Polylactic Acid
(PLA) from Corn Starch
----- End of picture text -----

Consume less

E.g. : Reduce thickness if feasible

Drive habit change E.g. : Carry your own pack for store refill

Switch to mono / recycled materials

E.g. : Same polymer in all layers / recycled content

| 237 |

Investor Day 2023

Paperboards & Packaging Businesses

==> picture [75 x 74] intentionally omitted <==

ITC’s Unique Position – Strength from Synergy

==> picture [836 x 357] intentionally omitted <==

----- Start of picture text -----

DEPLOY
DEFINE
Solutions across various
FMCG business identifies the
segments FMCG opportunity / challenge
LSTC
PPB
DEVELOP
PSPD DESIGN
•
Paperboards & Packaging Scientists from Life
Businesses design
Sciences & Technology
•
Materials
----- End of picture text -----

Scientists from Life Sciences & Technology Center
• Collaborations with ecosystem players
Coating Materials
• Coating Methods

| 238 |

Investor Day 2023

Paperboards & Packaging Businesses

==> picture [75 x 74] intentionally omitted <==

Platform 1: Range of Plastic Substitution Solutions

==> picture [912 x 434] intentionally omitted <==

----- Start of picture text -----

Recyclable Boards Compostable Boards Barrier-Coated Boards Proprietary Coatings
----- End of picture text -----

| 239 |

Investor Day 2023

Paperboards & Packaging Businesses

==> picture [75 x 74] intentionally omitted <==

Platform1: Range of Coating Platforms & Formulations

==> picture [505 x 454] intentionally omitted <==

Technology

Investments in multiple coating technologies

Process

Proprietary process know how
Covert logo printability – Co-branding & Anti Counterfeiting

Formulations

Collaborations with international chemical manufacturers
tailor made barrier coatings
In-house formulation development through ITC R&D capabilities

| 240 |

Investor Day 2023

Paperboards & Packaging Businesses

Platform 2 : Fusion Board to Replace Plastic

==> picture [75 x 74] intentionally omitted <==

==> picture [229 x 376] intentionally omitted <==

==> picture [205 x 376] intentionally omitted <==

==> picture [225 x 376] intentionally omitted <==

First to market
Replaces plastic ‘foam’ board
Outstanding print reproduction
Fully Recyclable

| 241 |

Investor Day 2023

Paperboards & Packaging Businesses

Moulded Fibre : Futuristic Packaging

==> picture [191 x 191] intentionally omitted <==

==> picture [186 x 154] intentionally omitted <==

==> picture [248 x 212] intentionally omitted <==

==> picture [248 x 191] intentionally omitted <==

==> picture [152 x 399] intentionally omitted <==

==> picture [167 x 171] intentionally omitted <==

==> picture [132 x 155] intentionally omitted <==

==> picture [145 x 146] intentionally omitted <==

==> picture [60 x 33] intentionally omitted <==

Moulded Fibre Products are made from renewable natural fibres such as wood / bamboo / bagasse or waste paper

| 242 |

Investor Day 2023

==> picture [75 x 74] intentionally omitted <==

Platform 3 : State of the Art Moulded Fibre Facility

==> picture [633 x 474] intentionally omitted <==

----- Start of picture text -----

Through a wholly owned Subsidiary
Investor Day 2023 Paperboards & Packaging Businesses
----- End of picture text -----

• Precision engineered Moulded Fibre Products

Designed to replace plastic packaging & fitments
Superior leak proof solutions for food containers

• Advantages

Inhouse fibre expertise
Integrated Fibre Value Chain
Advanced technology – first in India

• Manufacturing to commence from March 2024

| 243 |

==> picture [960 x 67] intentionally omitted <==

Thank You

| 244 |

Investor Day 2023

Paperboards & Packaging Businesses

AI assistant

ITC Ltd — Investor Presentation 2023

60425_rns_2023-12-12_924f415d-1c7a-452a-bcf7-8b588f54f2b7.pdf

Institutional Investors & Financial Analysts Day

Sanjiv Puri

Forward-Looking Statements

Responsible Competitiveness | Enduring Value

Leading FMCG Marketer

Foremost Agri Player

Contributing to all sectors of the economy Agriculture, Manufacturing & Services

Pre-eminent Hotel chain | Trailblazer in Responsible Luxury

Clear Market leader in Paperboards, Paper & Packaging

Portfolio Transformation over the years

Driving Profitable & Capital Efficient Growth

Non-Cigarette Businesses

Delivering in Challenging Times

Overall

NonCigarette Businesses

Pandemic + Inflation + Taxation

FMCG & Hotels Segments

Agri & Paper Segments

Non Cigarette Businesses: Driving Capital Efficiency

Non-Cigarette Businesses

Consistently Strong Cash Flow Generation

Robust Cash Generation

Strong Zero debt Balance Sheet

Dividend Payout Stepped up

Global Exemplar in Sustainability

Top notch ESG Credentials & Disclosures

Highest standards of transparency

ITC’s CDP Scores

A-

20 Years of Sustainability Reporting

Macro Trends Global → India A Compelling Growth Story

Global Mega Trends

5Ds Shaping the Future

Demographics

Median Age amongst the lowest in the world

Increasing Affluence & Aspirations

India - Uniquely poised

Rapid Urbanisation

Remains the Fastest growing major economy

Digitalisation

Digital Explosion |Financial Inclusion | Tech Democratisation

De carbonisation

Climate Crisis | Supply Chain Disruption | Food Security Energy Transition

Multi dimensional Reforms Agenda to Power Growth

Infrastructure

Taxation

Digital

Manufacturing

Agri/ Rural

Multiple Drivers of Consumption

ITC Next Strategies

ITC Next Strategy

ITC Synergy

Creating Multiple Drivers of Growth

Multiple Drivers of Growth

3 Horizon Growth Framework

ITC Next Strategy

Future Ready | Consumer Centric | Climate Positive | Inclusive

Translating Mega Trends into Agile & Purposeful Innovation

Strategy of Innovation

Cutting edge R&D capability

ITC LSTC Ranked Top Innovator in India^

….. and Across the Value Chain

In-house Capsules, Capsule Filters

Resilience | Wood & Pulp Yield

Varietal securitisation

ITC Next Strategy

Future Ready | Consumer Centric | Climate Positive | Inclusive

Agile, Resilient & Efficient Supply Chains

Economies of Scale & Scope

Smart Buying & Value Engineering

Distributed Manufacturing

Localised Supply Chains

Climate Risk Modeling

Creating Structural Advantage leveraging ICMLs

Proximity to large consumption centres

Cross Category synergies

ITC Ltd Investor Presentation 2023