Disclaimer: Forward Looking Statements

This presentation/announcement may contain forward looking statements with projections regarding, among other things, the Company’s strategy, revenues, earnings, trading profit, trading margin, finance costs, tax rate, capital expenditure, dividends, cash flow, net debt or other financial measures, the impact of foreign exchange fluctuations, the impact of raw material fluctuations and other competitive pressures. These and other forward looking statements reflect management expectations based on currently available data.

However actual results will be influenced by, among other things, macro-economic conditions, food industry supply and demand issues, foreign exchange fluctuations, raw material and commodity fluctuations, the successful acquisition and integration of new businesses, the successful execution of business transformation programmes and other, as of today, unknown factors and therefore actual results may differ materially from these projections.

These forward looking statements speak only as of the date they were made and the Company undertakes no obligation to publicly update any forward looking statement, whether as a result of new information, future events or otherwise.

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Q3 2016 Interim Management Statement

Brian MehiganCFO Kerry Group

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Q3 YTD 2016 Highlights

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• Volume growth +3.2%

• Taste & Nutrition +3.4%

• Consumer Foods +2.2%

• Pricing (2.2%)

• Group trading margin up 70bps

• Taste & Nutrition +70bps

• Consumer Foods +30bps

• Kerryconnect cost reduction

• Net Debt of €1.4bn – reflecting strong cash flow

• Earnings guidance for full year reaffirmed

3.4%

2.2%

3.2%

T&N Foods Group

Volume Growth

70 bps

30 bps

70 bps

T&N Foods Group

Margin Expansion

Q3 2016 Overview

Markets

• Developed - overall demand remains soft• Developing - remains challenging due to economic instability in some regions

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Kerry

Business Performance

• Taste & Nutrition - strong growth in clean-label, beverage & foodservice continued• Consumer Foods - delivering growth whilst managing implications of changing environment

• Solid volume performance outperforming the market• Deflationary input cost environment continued• Acquisitions performing well

Revenue Growth Analysis

Q3 YTD 2015

Q3 YTD 2016

0.4%

(4.5%)

Translation Currency

(0.3%)

Transaction Currency

3.2%

Volume

(2.2%)

Price

4.2%

Acquisition/Disposal

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Business Review – Taste & Nutrition

• Volume growth – outperforming our markets

– winning on technology driving enhanced product mix

• Clean label product innovation – delivering strong growth

• Price deflation of 2.2% – reflecting customer partnership agreements

• Margin progression – innovation driving enhanced business quality

YTD GROWTH

Revenue +3.4%*

Trading margin +70bps

Americas EMEA Asia-Pacific

3.6%

0.3%

9.6%

3.4%

AMERICAS EMEA APAC T&N

Volume Growth by Region

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• Developed – Strong performance in Snacking, Foodservice, Beverage & nutrition/clean label

• Developing – Brazil stabilised, Mexico performing well

• Strong growth across all regional developing markets

• Dairy, Beverage & Foodservice were key drivers

Note: * volume growth

• Developed – Strong Foodservice performance

• Developed – Sweet & Cereal demand weak

• Developing – Russia progressing well, South Africa & Middle East challenging markets

• New Technologies – enhancing pipeline

Business Review – Consumer Foods

• Volume growth led by snacking & meal solutions

• Deflationary environment continued

• New Innovation – e.g. launched Fire & Smoke meat snacking, Dairygold Softer Butter &

Pure ‘Free-From’ meals range

• Continued investment in e-tailing

• Margin improvement driven by portfolio evolution

YTD GROWTH

Revenue +2.2%*

Trading margin +30bps

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Dairy• Cheese snacking – good performance

• Spreads – category challenges

• Cheestrings Scoffies – new snack launch

Meat Products

• Fridge Raiders – good growth

• Richmond – category demand softer

• Wall’s – brand growth

• Fire & Smoke range – enjoying strong momentum

Meal Solutions

• Strong growth in Chilled

• Launched Men’s Health Kitchen frozen ready meals range

Note: * volume growth

Other Matters

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Brexit Business teams in place in both businesses to manage challenges & opportunities

Continuing currency headwinds due to fall in Sterling

Cycle moving from deflation to inflationRaw Materials

Currency

Business profitability converting to strong cash generation Cash Flow

Future Prospects

• Continued growth ahead of our markets

• Good innovation pipeline

• Helping our customers manage change & churn via our holistic business model

• Further investment in our science & technology for tomorrow’s consumer

• Innovation for growth markets – nutrition, general wellness, clean label, beverage, snacking &

foodservice

• Taste & Nutrition research programmes

• Group will continue to pursue strategic acquisition opportunities

Confident of delivering an underlying performance in the full year as previously guided. Taking into

account increased currency headwinds of 5% at current exchange rates, growth in adjusted*

earnings per share in 2016 is expected to be towards the middle to lower end of the 6% to 10% range

of 320 to 332 cent per share

10 Note: * before brand related intangible asset amortisation and non-trading items (net of related tax)