Newprinces SpA — M&A Activity 2021

Aug 4, 2021

SYMINGTON'S ACQUISITION 4 AUGUST 2021

DISCLAIMER

This presentation might contain certain forward-looking statements that reflect the Company's management's current views with respect to future events and financial and operational performance of the Company and its subsidiaries. These forwardlooking statements are based on Newlat Food S.p.A.'s current expectations and projections about future events.

Any reference to past performance of Newlat Food shall not be taken as a representation or indication that such performance will continue in the future. This presentation does not constitute an offer to sell or the solicitation of an offer to buy Newlat's securities, nor shall the document form the basis of or be relied on in connection with any contract or investment decision relating thereto, or constitute a recommendation regarding the securities of Newlat Food.

Newlat's securities referred to in this document have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

SYMINGTON'S - THE FIRST STEP IN THE UK MARKET FOR NEWLAT FOOD

Newlat Food acquires Symington's Limited.

Symington's is the UK market leader in instant hot snacks, with more than GBP 100mn revenues and with an accounting EBITDA margin above 8%, the company has a very strong market position in the UK branded market (#1 with Naked brand) and a presence in US, with a strong position in the Walmart category shelf with the brand NAKED.

With 59% market share, Symington's is the leading player in instant hot snacks production for the private label market, with strong relationships with all main retailers in the UK.

SYMINGTON'S AT GLANCE

4 Note: Financials excluding discontinued operations (Aunt Bessies, Ainsley Harriott, Golden Wonder, and Disney brands; (2) Includes custard, pasta, porridge, potato, grains and pulses, stuffing, sauces and other; (3) Mainly ambient ready meals Source: Food Strategy Associates VDD report

SYMINGTON'S – A DIVERSIFIED PORTFOLIO OF LEADING BRANDS

Note: Financials excluding discontinued operations (Aunt Bessies, Ainsley Harriott, Golden Wonder, and Disney brands); (1) Includes incubator and tactical brands which are aligned to channel and customer needs Source: Food Strategy Associates VDD report

SYMINGTON'S – STRONG AND LONG TERM RELATIONSHIPS WITH LEADING NAMES IN DISTRIBUTION

Diversified and strong customer base across multiple channels

Note: Financials excluding discontinued operations (Aunt Bessies, Ainsley Harriott, Golden Wonder, and Disney brands); (1) including convenience formats and Co-op Source: Company data, KPMG Financial VDD Report

8%

SYMINGTON'S - INTERSTING POTENTIAL SYNERGIES

• Symington's has a distribution platform for products across the UK regions, which is utilized at c.70% of its capacity and which could be used for the distribution of Newlat's Food Pasta & Bakery category.
• The distribution opportunities are supported by the Symington's strong relationship with the UK's most important retailers.
• Newlat will internalize the production of the Birkel Minuto instant noodles range, marketed in Germany, hence improving margins on such products. Thanks to Symington's know-how, it will be possible to enlarge the Birkel Minuto range and offer a unique and wide product range to German retailers.
• Symington's is purchasing circa GBP 7mn of pasta as raw materials. Newlat Food has c.40% of spare capacity and the industrial knowledge to cover all recipes and formats.
• Symington's introduced its products to the US many years ago and it is today sold in Walmart. This relationship could be further levered with the offer of Newlat Food products.
• The optimization of the capacity could leave one of the Symington's production plants free to become a pure pasta production plant.

• Cost synergies amounting to a total of € 10 million are estimated to be realized by the end of 2022.

• Total consideration (post-adjustments) of GBP 53 mln as a Free Cash/Debt EV for 100% shares and voting rights of Symington's Limited.

• No theoretical dilution for Newlat Food Shareholders.
• Valuation is reduced post-synergies.

INVESTOR RELATIONS CONTACTS

Tel: +390522790450 Mob: +393319559164 investors@newlat.com