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Authentic products drive sustainable growth September 2026 Investors presentation
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Kri Kri Legal This presentation was prepared by KRI KRI S.A. The information contained herein has been obtained from company and external sources believed to be reliable, but not guaranteed as to its accuracy or completeness. The information contained herein also includes forward-looking statements which are based on current expectations and assumptions about future events. You should not place undue reliance on these forward-looking statements. These forward-looking statements are subject to risks, uncertainties and assumptions about KRI KRI including, among other things, its future financial position and results, its financial outlook, budgets, projected levels of consumption and production, projected raw materials and other costs, future taxation, estimates of capital expenditure and plans and objectives of management for future operations. As a result, KRI KRI’s actual results could differ materially from those anticipated in the forward-looking statements. No one undertakes to publicly update or revise any forward-looking statement unless required by law. Past performance is no guarantee of future results. This presentation is for informational purposes and is not to be construed as an offer to sell or a solicitation to buy shares of KRI KRI. Unless otherwise specified, all financial information presented herein is based on KRI KRI’s IFRS financial statements. Legal disclaimer 02 INVESTOR PRESENTATION | H1.2026
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Profit and Loss Statement Margings €m H1.2026 H1.2025 Δ % H1.2026 H1.2025 Sales 203,9 161,9 25,9% Gross Profit 66,1 44,5 48,5% 32,4% 27,5% Operating Expenses 26,7 21,4 24,7% 13,1% 13,2% EBIT 39,4 23,1 70,6% 19,3% 14,3% EBT 39,4 23,0 71,3% 19,3% 14,2% Profit after tax 36,5 19,4 87,6% 17,9% 12,0% EBITDA 43,2 26,1 65,5% 21,2% 16,1% Subsidies on CAPEX 5,7 1,4 Financial Results 03 INVESTOR PRESENTATION | H1.2026
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287 362 432 544 2022 2023 2024 2025 106 146 218 319 2022 2023 2024 2025 Segment review Yogurt exports Key Highlights • Strong growth in major markets: UK +67%, Italy +31% • Yogurt exports now represents 75% of total yogurt sales INVESTOR PRESENTATION | H1.2026 04 Sales +46,6% EBIT +100,7% Source: €m in retail prices, Circana (2025) Greek yogurt market size UK IT Source: €m in retail prices, Nielsen (2025) 129,4 28,4 88,3 14,1 Sales EBIT 2026 2025
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05Segment review Yogurt Greece • The market has entered a growth phase, showing an increase of +11,3% in value and +8,6% in volume. • Leading supplier in private label. Inflation turns more consumers to value for more affordable options • Highly competitive environment • Branded yogurts market share declined INVESTOR PRESENTATION | H1.2026 Key Highlights Sales +10,0% EBIT +144,8% 43,3 5,4 39,4 2,2 Sales EBIT 2026 2025
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Segment review Ice cream 06 GR • Decline of the overall market • Initiatives to improve our performance • Expansion of our sales network • Focusing on promising product categories EXPO • Lost a PL contract in UK • US sales development slower than initially expected Sales -1,8% EBIT -19,3% INVESTOR PRESENTATION | H1.2026 Key Highlights Sales -23,6% EBIT -11,6% GR EX 22,8 3,9 23,2 4,9 Sales EBIT 2026 2025 7,2 1,2 9,4 1,4 Sales EBIT 2026 2025
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Sales bridge INVESTOR PRESENTATION | H1.2026 07 Amounts in €m 161,9 -0,9 -1,8 8,5 36,5 -0,4 203,9 Sales H1.2025 ICE prices ICE volumes YOG prices YOG volumes Other Sales H1.20256 • Substantially volume-driven growth • Significant contribution of past price adjustments Key Highlights
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Gross Profit bridge INVESTOR PRESENTATION | H1.2026 08 Amounts in €m 44,5 8,0 7,7 5,2 0,7 66,1 Gross profit H1.2025 Sales quantities Sales prices Input prices Production expenses Gross profit H1.2026 • Shared contribution to gross profit • volume • prices • input costs • Expected different picture in H2-2026 • Preparing price adjustment initiatives Key Highlights
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Estimates for 2026 INVESTOR PRESENTATION | H1.2026 09 Sales Growth Profit Margins CapEx Total sales are expected to reach €400m. EBIT target is revised slightly lower, to €57- 58m, as cost pressures increase following the prolonged conflict in the Middle East. CAPEX is expected to be between €26m to €30m. IFRS - €m 2026 rev. 2026 init. 2025 Δ% 2024 Sales 400 >390 328,8 21,7% 256,4 EBIT 57-58 ~60 42 35,7% 37,2
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Mid-term CAPEX plan INVESTOR PRESENTATION | H1.2026 10 Current situation: • Demand for Greek yogurt is very strong and expected to continue • Opportunities in other countries with large markets of yogurt • Short of spare capacity Mid-term plan: • Heavy CAPEX to build up yogurt production capacity • Ease capacity constraint • Capture arising opportunities Key Highlights €m Planned CAPEX Yogurt production capacity VS 2025 2026 28 20% 2027 26 76% 2028 23 100% 2029 25 164% 2030 25 196% 127 amounts in m€ 2025 2026est 2027est 2028est 2029est Tax relief in FS (total) 1,43 5,85 12,08 7,85 7,85 Initially regognised in FS 1,08 2,09 10,41 7,85 7,85 Recognised for prior period 0,35 3,76 1,67
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Key take-aways 11 INVESTOR PRESENTATION | H1.2026 • Strong demand for Greek yogurt in developed European markets • Heavy mid-term CAPEX plan to ease the capacity constraint and be able to fully capture the growing demand • Opportunities for supporting income flows in secondary segments • Well-prepared to effectively pass increased input costs and defend profit margins
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12 Thank you