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Page | 1 of 28 Bursa Malaysia : 7113 SGX : BVA Reuters : TPGC.KL Bloomberg : TOPG MK ADR United States : TGLVY TOP GLOVE CORPORATION BHD Investor Presentation 6th October 2026 Strong Performance, Stronger Foundations, Sustainable Growth
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Page | 2 of 28 Thumbs Up, Ready, 1 2 3 TOP GLOVE TOP HONESTY TOP INTEGRITY TOP TRANSPARENCY QUALITY ! QUALITY ! QUALITY ! TOP GLOVE BUSINESS ETHICS CLAPS Claps, 2x 3x 2x
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Page | 3 of 28 TOP GLOVE 5 HEALTHY WELLS CLAPS Thumbs Up, Ready, 1 2 3 Claps, 2x 3x 2x HEALTHY! HEALTHY! HEALTHY! EAT WELL WORK WELL EXERCISE WELL CLEAN WELL SLEEP WELL TOP GLOVE
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Page | 4 of 28 ‘Top Glove’ at a Glance The World’s Largest Rubber Gloves Manufacturer Our Vision To be your world class partner in gloves and healthcare products Source: (1) Bloomberg Our Mission Ensuring safe human protection globally The world’s largest manufacturer of Nitrile, Natural Rubber and Surgical gloves Market capitalisation(1) of RM7.06 bil, USD1.73 bil as of 6th October 2026 FY2026 Revenue From Sep’25 to Aug’26 RM 4.23 bil, USD 1.04 bil 95 billion gloves p.a. capacity, 51 factories, 784 production lines, as of October 2026 Over 2,000 customers across 195 countries About 10,300 employees
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Page | 5 of 28 From Humble Origins to Global Leader 1991 ▪ Started as a local business enterprise 1994 ▪ First overseas foray and established a marketing arm in the USA 2002 ▪ Commenced operations in China ▪ Transferred to the Main Board of KLSE 2007 ▪ Revenue over RM1 bil ▪ Acquisition of a majority stake in Medi-Flex 2013 Established first dedicated Group R&D Centre to drive innovation 2018 2020 ▪ Launched BioGreen Biodegradable Gloves ▪ Implemented Manufacturing Execution System (MES) and Advanced Auto Packing Machine ▪ FY21 PAT of RM7.8 bil exceeded past 20 years PAT ▪ Highest dividend declared in FY21 of RM5.2 bil 2001 ▪ Commenced operations in Thailand ▪ Listed on the Second Board of Kuala Lumpur Stock Exchange (“KLSE”) 2004 2011 2016 20212019 ▪ The World’s Largest Manufacturer of Natural Rubber Gloves ▪ Acquired a marketing arm in Germany to extend sales in Europe ▪ Secondary listing on Singapore Stock Exchange (“SGX”) ▪ Revenue over RM4 bil ▪ Implementation of Artificial Intelligence (AI) Empowered Vision Inspection System ▪ Acquisition of Aspion, Eastern Press, Duramedical ▪ The World’s Largest Manufacturer of Surgical Gloves ▪ The World’s Largest Manufacturer of Nitrile Gloves ▪ Commenced operations in Vietnam 2024 ▪ MSCI ESG achieved A rating as of Jul 2024. ▪ Ranked Top 10% amongst the Healthcare Sector on the DJSI ratings ▪ MSCI ESG Rating upgraded to “AA” in 2025 from “A” ▪ Top Winner at MSWG (NACGSA) 2025, winning the Overall Excellence Award and Industry Excellence Award. 2025
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Page | 6 of 28 Healthcare Spending Continue to Increase Globally Strong Growth Opportunity in Asia Pacific, Middle East and Africa, on the back of Large Population but Low Current Glove Usage Source: i) Arizton Disposable Glove Market, Global Outlook & Forecast, 3 rd Edition, 2024 to 2029, Year of Published : 2024 ii) Worldometers.info 388 668 744 1,864 4,568 North America Latin America Europe Middle East & Africa Asia PacificAsia Pacific Middle East & Africa Europe Latin America North America 256 295 342 383 414 449 488 102 146 190 215 234 254 278 15 21 31 36 40 44 48 53 61 76 86 91 97 103 13 15 17 19 20 21 22 2019 2020 2021 2022 2023 2024F 2025F Million people North America Europe Latin America Asia Pacific Middle East & Africa Glove per Capita Consumption, in Pieces Population by Region in 2025 +8% +9% +8% +12% +16% +15% +6% +6% +9% +9% +10% +9% +5% +5% +9% +13% +30% +43% +6% +13% +25% +15% +11% +16% +48% +40% +5% +13% +15% +12% Total Global Glove Consumption per annum: 2019 = Around 250 billion pcs per annum 2025F = Around 500 billion pcs per annum *Increased by about 100% over 6 years, around 12% annual growth *CAGR % Growth from 2019 to 2025F +91% +173% +94% +220% +69% 55% 23% 9% 8% 5% Total World Population as of 2025: 8.2bil people
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Page | 7 of 28 Distribution ▪ 7 marketing offices globally ▪ Over 2,000 customers ▪ An OEM manufacturer in every region ▪ Top 5 customers represent 12% of total revenue ▪ No single customer contributes more than 5% of revenue ▪ Comprising distributors across 195 countries ▪ A geographically diverse customer base Top Glove’s Marketing Offices North America Latin America 28% 8% Western Europe 15% Asia 24% Middle East 4% Africa 3% USA Brazil Germany Vietnam Thailand Malaysia % of 4QFY26 Sales Volume by Region China Eastern Europe 18% Sales Volume Distribution Across 195 Countries
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Page | 8 of 28 55% 27% 22%23% 27% 23%22% 19% 20% 26% 19% 20%23%26% 22%17% 15% 16%11% 42% 47% 44% 39% 47% 54% 59% 55% 7% 9% 8% 8% 3% 5%5% 6% 8%1% 3% 3%2% 5% 4% 2% 1% 1%0% 10% 20% 30% 40% 50% 60% 70% FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Diverse Range of Products to Align with Rapidly Changing Markets Natural Rubber Powder-free Gloves Nitrile Gloves Natural Rubber Powdered Gloves Surgical Gloves Vinyl/TPE/CPE % of Product Mix By Sales Volume from FY11 to FY26
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Page | 9 of 28 High Demand Drives Capacity Requirements Top Glove’s Total Production Capacity In Bil Pcs Bil ’pcs As at Aug’24 As at Aug’25 As at Aug’26 Target End of FY2027 Installed Capacity 95 95 95 95 Running Capacity 60 64 72 78 Malaysia ▪ 35 Glove Factories ▪ 3 Chemical Factories ▪ 2 Packaging Factories ▪ 1 Glove Former Factory ▪ 1 Dental Dam Factory ▪ 1 Mask Factory ▪ 1 Gamma Sterilization Plant ▪ 1 Nitrile Latex Factory Top Glove’s Manufacturing Capabilities Total: 51 Factories [39 Glove + 12 Non Glove] Thailand ▪ 3 Glove Factories ▪ 2 Latex Concentrate Plants Vietnam ▪ 1 Vinyl Glove Factory Increasing Trend of Utilization Rate on Running Capacity 7 Marketing Offices 6 R&D Centres Malaysia USA Germany Brazil Thailand China Vietnam 5 in Malaysia 1 in Thailand 44% 64% 77% 79% FY2024 FY2025 FY2026 Sep'26
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Page | 10 of 28 4QFY26 1/6 to 31/8/26 3QFY26 1/3 to 31/5/26 Variance 4QFY26 vs 3QFY26 4QFY25 1/6 to 31/8/25 Variance 4QFY26 vs 4QFY25 Revenue, RM’mil 1,248 1,095 14% 893 40% Revenue, USD’mil 306 277 211 EBITDA, RM’mil 222 186 19% 107 107% EBITDA, USD’mil 55 47 25 EBITDA, margin 18% 17% 12% PBT, RM’mil 141 101 40% 41 244% PBT, USD’mil 35 26 10 PBT margin 11% 9% 5% PAT, RM’mil 169 81 109% 31 445% PAT, USD’mil 42 20 7 PAT margin 14% 7% 3% EPS, sen 1.97 1.01 0.43 4QFY26 Quarterly Results for the Period 1/6/26 to 31/8/26
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Page | 11 of 28 in RM’mil 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Revenue 2,054 2,315 2,313 2,275 2,511 2,889 3,409 4,221 4,801 7,237 16,361 5,572 2,257 2,514 3,493 4,232 EBITDA/(L) 197 298 311 302 442 525 489 694 687 2,421 10,285 687 (156) 253 448 661 EBITDA/(L) margin 10% 13% 13% 13% 18% 18% 14% 16% 14% 33% 63% 12% (8%) 10% 13% 16% PBT/(L) 146 241 242 216 363 442 393 523 424 2,166 10,034 358 (900) (31) 148 325 PBT/(L) margin 7% 10% 11% 10% 15% 15% 12% 12% 9% 30% 61% 6% (40%) (1%) 4% 8% Taxation (30) (34) (39) (32) (82) (80) (54) (90) (56) (377) (2,210) (76) 15 10 (24) (5) PAT/(L) 115 207 203 184 281 362 339 433 368 1,789 7,824 282 (886) (21) 123 320 PAT/(L) margin 6% 9% 9% 8% 11% 13% 10% 10% 8% 25% 48% 5% (39%) (1%) 4% 8% ROE, % 10% 16% 15% 13% 17% 19% 16% 18% 14% 36% 131% 4% (20%) (1%) 3% 6% in RM’mil in RM’mil As at Financial Year Ended 31 August 2026 Top Glove’s Performance Since Year 2011
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Page | 12 of 28 in USD’mil 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Revenue 650 733 732 720 596 716 799 1,028 1,137 1,734 3,925 1,243 487 583 803 1,042 EBITDA/(L) 62 94 98 96 105 130 115 169 163 580 2,467 153 (34) 58 103 163 EBITDA/(L) margin 10% 13% 13% 13% 18% 18% 14% 16% 14% 33% 63% 12% (8%) 10% 13% 16% PBT/(L) 46 76 77 68 86 110 92 127 100 519 2,407 80 (194) (8) 34 80 PBT/(L) margin 7% 10% 11% 10% 15% 15% 12% 12% 9% 30% 61% 6% (40%) (1%) 4% 8% Taxation (10) (11) (12) (10) (20) (20) (13) (22) (13) (90) (530) (17) 3 3 (6) (1) PAT/(L) 36 66 64 58 67 90 79 105 87 429 1,877 63 (191) (4) 28 79 PAT/(L) margin 6% 9% 9% 8% 11% 13% 10% 10% 8% 25% 48% 5% (39%) (1%) 4% 8% ROE, % 10% 16% 15% 13% 17% 19% 16% 18% 14% 36% 131% 4% (20%) (1%) 3% 6% Top Glove’s Performance Since Year 2011 in USD’mil in USD’mil As at Financial Period Ended 31 August 2026
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Page | 13 of 28 With initial investment of 1,000 shares made based on IPO price of RM2.70 on 27 March 2001, the return would be: Source: Reuters as of 6th Oct 2026 Notes: (1) 1,000 shares at IPO, adjusted for bonus issue and share split since IPO (2) Calculated based on adding market value and accumulated dividends and subtracting the investmentcost Source: Registrar of Depository Number of CDS and CDP accounts Number of accounts as of 31 August 2026 Total CDS Accounts, Bursa 112,905 Total CDP Accounts, SGX 7,484 Grand Total 120,389 Bonus Issue History FY2002 3 for 10 FY2003 2 for 5 FY2007 2 for 5 FY2010 1 for 1 FY2016 1 for 1 FY2019 1 for 1 FY2020 2 for 1 Bonus Issue since 2002 122x Share Split History 16/2/05 RM1 per share to RM0.50 per share Bursa: Shareholder Value Track Record Total Shareholders Return of 8,500% Over 25 Years Since Listing in Year 2001 Number of Shares Held(1) Market Value [as of 6th Oct 2026] Accumulated Dividends Investment Cost [as of 27 March 2001] Capital Appreciation(2) Total Shareholder Return # RM RM RM RM % 122,304 107,628 121,928 2,700 226,855 8,500
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Page | 14 of 28 Source: Reuters as of 6th Oct 2026 Note: (1) adjusted for bonus issue and share split since IPO Source: Registrar of Depository Number of CDP accounts as of 31 August 2026 7,484 SGX: Shareholder Value Track Record Total Shareholders Return of 110% over 10 years Since Listing on 28 Jun 2016
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Page | 15 of 28 90 140 190 240 290 340 390 440 490 Bond Price Date Top Glove Convertible Bond Price Performance Issued on 1st March 2019 and Fully Redeemed on 16th October 2020 Convertible Bond Price as at 16th Oct 2020: USD 452.12 Convertible Bond Price as at 1st March 2019: USD 100.00 Top Glove Convertible Bond price appreciated by 352.12% or 3.52 times Prepared by: Khoo Bee Hui Verified by: Yap Rueh Yinn Date: 10 March 2021Source: Thomson Reuters Eikon Issuer: Top Glove Labuan Ltd Isin: XS1941677764 Issuance size: USD200 million Coupon: 2% Issued Date: 1st March 2019 Maturity Date: 1st March 2024 (5 years) Redemption Date: 16th Oct 2020
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Page | 16 of 28 Enhanced Shareholder Return with Three times YoY Growth in Dividend per Share The Board of Directors has declared a tax exempt final dividend of 1.50 sen per share, amounting to RM120 mil, while maintaining a prudent balance between shareholder returns and reinvestment needs to support sustainable growth. Total Dividend, RM ‘mil 99 143 182 182 217 192 962 5,214 96 0 0 39 120 Payout Ratio 55% 51% 50% 54% 51% 53% 55% 68% 43% 0% 0% 37% 39% Dividend, Sen per share Financial Year Total Dividend Paid since listing to FY2026 = RM 8.0 billion 27 times of capital raised Total Capital Raised in: 2001 2007 RM 305 mil RM 65 mil RM 240 mil FY2026 Dividend : 1.50 sen per share Total Dividend Payout : RM120 million Ex Date : 23/11/2026 Entitlement Date : 24/11/2026 Payment Date : 15/12/2026
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Page | 17 of 28 Bursa Top 100 Market Capitalization Listed Companies Data as of last trading day close price on 02/10/2026 based on Thomson Reuters
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Page | 18 of 28 Bursa Top 100 Market Capitalization Listed Companies (Con’t) Data as of last trading day close price on 02/10/2026 based on Thomson Reuters
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Page | 19 of 28 Bursa Top 100 Market Capitalization Listed Companies (Con’t) Data as of last trading day close price on 02/10/2026 based on Thomson Reuters
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Page | 20 of 28 Summary of Research Reports Rating Target price (TP), Target PE and Projected Profit After Tax (PAT) Lowest Highest Summary of Research Reports Rating as at 01/10/2026 with Share Price of RM0.74 @ 5.00PM B S HBuy Call Sell Call Hold Call
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Page | 21 of 28 We Care for the Health of Our Employees Top Glove has 18 Wellness Team Members as of August 2025 Medical Professionals13 4 Medical Doctors 4 Medical Assistants 1 Dentist 1 Dental Assistant 1 Radiographer 1 Front Desk Admin 1 Finance Admin 1 Ambulance Wellness Professionals4 2 Nutritionists 1 Dietitian 1 Health Admin Executive Fitness Professional1 1 Fitness Assistant
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Page | 22 of 28 Latest Sustainability Recognition & Rating Milestones Only Malaysian company in the DJ BIC Emerging Markets index* *within the Health Care Equipment & Supplies industry Ranked among the Top 15% in Global Health Care Equipment & Supplies Top Glove Recognised for Sustainability Leadership with 7th Year Membership in S&P Dow Jones Best in Class (DJ BIC) Index 2026 & 5th Consecutive Inclusion in S&P Global Sustainability Yearbook 2026 Top Glove Progresses with Significant Improvement in Workforce Disclosure Recognised by WDI 2025 83% score in first time participation in WDI 2025 Full Survey, exceeding global, national, and Health Care industry averages Only Malaysian companyin the Global Health Care Equipment &Supplies industry* in S&P's 2026 Yearbook. *among11 companies assessed in the industry Honoured in Workforce Action Special Mention and Runner up for Most Improved Award (Former Core Indicator Responder) Top Glove Maintains Bronze Medal in EcoVadis Sustainability Rating Top Glove scored 66% with improvements in Environment and Ethics issues Ranked in the Top 28%, surpassing 72% of global industry peers* *Assessed among 1,036 global companies in the Medical and Dental Instruments and Supplies industry
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Page | 23 of 28 Emerging as a trusted company with sustainable value chain [4/4=100%] Transition into net zero carbon business [11/12= 92%] Improving community livelihood [0/4=0%] Progress Against FY2025 Goals Sustainability Goals 1 2 3 Promoting inclusivity & respecting human rights [5/6= 83%] Strengthening good corporate governance & responsible business culture [2/6= 33%] 4 5 Progressing well and on track Progressing well and on track Achieved and sustained efforts, emphasizing environmental commitment towards carbon net zero 2050 through optimizing resources and alternative materials. Key strategic initiatives for factory certification underwent realignment to better adapt to the post-pandemic industry landscape Legend: Progress Tracking to FY2025 Progressing well and on track to achieve targets by FY2025 Progressing with slight delay, to review current approach Progressing but lagging, to review and revise targets (if necessary) Progressing with slight delay Progressing with slight delay CSR activities is ongoing but in passive mode due to the shifting of business strategy and focus. Contributed 4,830 volunteering hours in FY2024. Progressing on track Achieved and sustained efforts, emphasizing social compliance, workplace safety & health, and diversity initiatives. Completed 100% ESG assessments on critical suppliers and ensured traceability of natural rubber up to the collecting point for our concentrated latex processing plant Overall ESG Achievements in FY2024 Vs FY2025 Targets
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Page | 24 of 28 Top Glove’s Business Direction, Ethics, Rules & Philosophies Must know, Must do, Must teach To Produce Consistently Acceptable Quality Gloves At Efficient Low Cost. Business Direction To invest 1 efficient dollar and earn 2 healthy dollars 1. Honesty 2. Integrity 3. Transparency 1. We work for our customers 2. We take care of the interest of our shareholders 3. We ensure that our employees continue to contribute positively to the company and we care for their well-being 4. We work closely with our bankers, suppliers, business associates and friends 1. Do not lose our shareholders’ money 2. Do not lose our health 3. Do not lose our temper 4. Do not lose our customers Investment Direction Business Ethics Business Philosophies Business Rules Guiding Principles for Growth and Success
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Page | 25 of 28 Ensuring safe human protection globally supported by our values OUR MISSION To be your world class partner in gloves and healthcare products OUR VISION Our People Our Products, Process & Customers Our Financials Healthy workforce living 5 Wells with quality and safety mindset ▪ Diversify to glove related and healthcare businesses ▪ Focus on Product Innovation, Operational Excellence to achieve customer delight ▪ Embrace Industry 4.0 digital eco- systems using the power of data Good and Prudent Financial Discipline to achieve target financial ratios Ensure the well being of our employees, our greatest assets Continue to innovate and deliver world class products with improved processes and ensure ultimate customers satisfaction Deliver sustainable financial goals and create value for our investors and financial partners Top Glove’s Medium and Long Term Objectives
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Thank You Have A Nice Day! Scan or click to access TG Investor Relations webpage Scan or click to access TG Sustainability webpage www.topglove.com/ir-overview-en www.topglove.com/sustainability invest@topglove.com.my +603 3362 3098
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Page | 27 of 28 TOP QUALITY AND EFFICIENCY CLAPS Thumbs Up, Ready, 1 2 3 TOP GLOVE Claps, 2x 3x 2x IMPROVE ! IMPROVE ! IMPROVE ! Top Quality Top Efficiency Top Consistency