Vitasoy International Holdings Limited

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1 FY 2011/2012 Interim Results Announcement 23 November, 2011

2 Disclaimer In addition to historical information, this presentation contains forward-looking statements with respect to the results of the operations and business of Vitasoy. These forward-looking statements represent Vitasoy s expectations or beliefs concerning future events and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements.

3 Financial Highlights

4 Financial Highlights Six Months ended 30th September (In HK$ M) Change Turnover 1,946 1, % Gross Profit % EBITDA % Profit Before Tax % Profit Attributable to Shareholders %

5 Financial Highlights Six Months ended 30th September (In HK Cents) Change Basic Earnings Per Share % Dividend Per Share %

6 Financial Highlights Six Months ended 30th September (In HK$ M) Change Capital Expenditure % Depreciation and Amortization %

7 Financial Highlights (In HK$ M) Balance as at 30 Sept Sept 2010 Change Cash and Bank Balance % Bank Borrowings & Finance Lease Obligations % Net Cash (Cash less Borrowings) (296) 224 N/A Shareholders Equity 1,378 1,294 +6% Debt / Equity Ratio 41% 19% +22% pts

8 Group Turnover by Operations (Six Months ended 30th September 2011) Singapore 2% Hong Kong & Macau 43% North America 11% Australia / NZ 13% Mainland China 31%

9 Group Turnover by Product Category (Six Months ended 30th September 2011) Others 3% Juice 3% Soymilk 53% Lunch Boxes & Snacks 4% Water 4% Milk 4% Tofu 8% Tea 20%

10 Market Review and Outlook

11 Business Highlights Challenging environment with continuing inflationary pressure Double digit sales growth in almost all operations Solid leading market position in all operating markets Capacity expansion plans on schedule which provide a strong foundation for future growth Protect gross profit margin through proactive pricing strategy and prudent cost management Pressure on after-tax profit with higher investment in brand building, increase in operating expenses, financing costs and taxes.

12 (HKD) Market Review Hong Kong and Macau Sales Overall Sales 10% (HKD) 832m 759m 10% 1H FY10/11 1H FY11/12 Operating Profit 140m 157m 13% Key Drivers Good weather Timely launch of new products Brand support Tactical pricing strategy Improved operational efficiency in tuck shop business 1H FY10/11 1H FY11/12

13 Market Outlook & Strategy Hong Kong and Macau Reinforce Leadership Position Prudent Cost Management Strategy Expand Other Packaging Segments Product Innovation

14 Market Review Mainland China (HKD) Sales 600m No. 1 Brand in Packaged Soymilk 501m 20% Key Drivers Focused business strategy (HKD) 1H FY10/11 1H FY11/12 Operating Profit Brand building Well-received new products Proactive pricing strategy 88m 74m 15% Prudent cost management Commencement of new Foshan plant. 1H FY10/11 1H FY11/12

15 Market Outlook & Strategy Mainland China Increase Production Capacity Strategy Brand Building Expand Territorial Coverage

16 Market Review Australia & New Zealand (HKD) Sales 260m 210m 24% Key Drivers Strong Australian dollar 1H FY10/11 1H FY11/12 Strengthened the foothold in out-ofhome coffee market (HKD) Operating Profit Category growth communications programs 41m 45m 11% Launched a new product VITAGO 1H FY10/11 1H FY11/12

17 Market Outlook & Strategy Australia & New Zealand Reinstate Promotions Strategy Increase Production Capacity Continue the New Product Launch

18 Market Review North America (HKD) 209m Sales 216m 4% Key Drivers Maintained market leadership in tofu and Asian pasta 1H FY10/11 1H FY11/12 Well-received new products (HKD) Operating Profit Higher freight costs Higher manufacturing and repair 6m costs 1H FY10/11 1H FY11/12-4m N/A

19 Market Outlook & Strategy North America Address Manufacturing Performance Brand Support Strategy Distribution Expansion Focused Product Development

20 Market Review Singapore (HKD) Sales Key Drivers 32m 37m 19% Strong Singaporean dollar (HKD) FY 09/10 FY 10/11 Operating Profit Sales growth in supermarkets and restaurants Focus on attaining market leadership 2m 3m 29% 1H FY10/11 1H FY11/12

21 Market Outlook & Strategy Singapore Expand Product Portfolio Selective Pricing Strategy Expand Customer Base Manufacturing Efficiency

22 Conclusion This year heralds an important phase of development for the Group s future growth. Rising commodity, salary and overhead costs will be our key challenges. We will further build brand equity and distribution by utilizing our upgraded production capacity to drive sales growth. We will increase effort to provide employees with opportunities to grow with the company. We are committed to maximizing shareholders value and being the preferred choice of our customers.

Vitasoy Announces 15% Growth in Net Sales Revenue to HK$2,783 million for FY2008/09

For Immediate Release Vitasoy Announces 15% Growth in Net Sales Revenue to HK$2,783 million for FY2008/09 Positive Sales Growth Recorded in All Major Markets Financial Highlights For the year ended 31st