CJ CheilJedang IR

Introduction to CJ CheilJedang

2

This material may contain “forward-looking statements” related to future events.

“Forward-looking statements” often address or describe our expected future

business and financial performance.

This material contains “Forward-looking statements” from predictions, plans,

expectations. This material also consists unexpected market volatility triggered by

global wide economical conditions, fx rates, interest rates and other matters which

may cause significant effects on performances of our major businesses. Thus actual

results may differ from our statements of predictions in this material.

This material shall not be utilized for any legal purposes in regards to investors’

investment results. This material only speaks of the information as of the date that

they are made, and the company is not responsible for future updates on the market

conditions and any unexpected future events.

Contents

I.

II.

III.

Ⅳ.

V.

Ⅵ.

Ⅶ.

3

Company Overview

Key highlights

Food Division

Bio Division

Feed & Care

CJ Logistics

Financial Statement

Pg. 4

Pg. 9

Pg. 10

Pg. 20

Pg. 26

Pg. 28

Pg. 32

I. Company Overview

4

Outstanding Common stock

Market Cap

3M Daily Trading Value

Foreign Investor Stake

15,054,186 shares

W 5,735.6bn ($5,280mn)

W 23.5bn ($21.7mn)

23.4%

Snapshot

* As of end of Dec, 2020

CJ, 44.6%

Chairman Lee and

related parties, 0.9%

Foreign

Investor,

23.4%

National Pension Service,

10.9%

Treasury

Stocks,

2.4%

Domestic

Institution

& Others,

17.9%

* Based on common shares as of end of Dec, 2020

Shareholders’ Stake

I. Company Overview

5

OP Mix (2020)

Revenue Mix (2020)

Processed Food 30%

Foodstuff7%Bio

12%Feed & Care9%

W24.2tn

Food 38%

Bio23%

Feed & Care16%

W1,359.6bn

OP Mix (2020)

Revenue Mix (2020)

Processed Food 51%

Foodstuff12%

Bio21%

Feed & Care 16%

W14.2tn

Food 49%Bio

30%

Feed & Care21%

W1,041.5bn

Logistics42%

Logistics23%

Sales & OP Excluding CJ Logistics Sales & OP Including CJ Logistics

CJ Group is engaged in 4 major businesses

I. Company Overview

6

[As of end of Dec, 2020]

Listed

*Note: Based on common shares

CJ CheilJedang

CJ Foodville CJ OliveYoung

100%

44.6%

CJ CGV 38.4%

40.1%

96.0%

CJ Freshway47.1%

Food &Food Service Bio Entertainment

& Media

CJ Logistics40.2%

Retail& Logistics

Studio Dragon

54.5%

Food Division Bio Division

CJ ENM

55.2%

CJ Corp.

CJ Seafood46.5%

CJ OliveNetworks

EntertainmentDivision

CommerceDivision

CJ Chei lJedang consists of 3 major businesses

I. Company Overview

7

[As of end of Dec, 2020]

Listed

Revenue

OP

EBITDA

Net Debt

2020 Result

W8,968.7bn

W510.0bn

W1,021.9bn

W5,195.0bn

W531.5bn

W819.8bn

W10,781.1 bn

W325.3bn

W802.3bn

W1,838.7bn

($8,256.2mn)

($469.5mn)

($940.7mn)

($4,782.3mn)

($489.3mn)

($754.7mn)

($9,924.6mn)

($299.5mn)

($738.6mn)

($1,693.5mn)

CJ CheilJedang(Mkt cap W5.7tr / $5.3bn)

40.2% Shares

*Note: Results of CJ Logistics are based on CJ Logistics’ consolidated financial statement which may differ from contribution of CJCJ’s financial statement( fx rate at 1,086.30 W/$ )

W4,227.6bn ($3,891.7mn)

CJ Logistics(Mkt cap W3.8tr / $3.5bn)BIOFood

History

Founded CheilJedang Corp. (the first manufacturing business of Samsung Group)

1953

Began overseas Animal Feed business in SE Asia

1990s

Spun off non-core divisions while strengthening core biz by acquisitions

2000~2006

Spun off from CJ Corp2007

Acquired CJ Logistics 2011

Commenced Animal Feed businessLaunched Dasida, No.1 seasoning brand

1970s

Commenced Pharmaceutical businessConstructed first Lysine plant in Indonesia

1980s

Separated from Samsung Group1993

Globalization

Overseas sales account for 60% of total revenue of W14.2tn (2020)

Overseas Sales Portion by Division

Acquired Selecta2017

I. Company Overview

8* Overseas revenue excludes exports from Korea

46%(excl. Foodstuff 57%)

83% 86%

Food Bio Feed & Care

Domestic

40%Overseas

60%

* Excluding CJ Logistics

Disposed CJ Healthcare 2018

Acquired Schwan’s Company2019

Sales breakdown: Food 65%, Bio 35% (Excl. CJ Log ist ics)Diversif ied business portfol io with stable margins

9

II. Key highlights

Revenue Profitability

28% 28% 29% 31% 32% 33%

49%53%

24% 24% 22%21%

20% 18%

14%

12%

20% 20%21%

20%22%

26%

22%

19%

21% 22%22%

23%

21%21%

16%

16%

6% 6%6%

6%

5%1%

2013 2014 2015 2016 2017 2018 2019 2020

Processed Food Foodstuff BioFeed & Care Healthcare

GPM

OPM

NPM4.8%

5.9%7.2% 7.0%

5.6%

6.0%

4.7%

7.4%

25.4%26.7%

28.8% 29.3%28.3%

26.8% 26.8%

30.1%

2.2%1.2%

2.5%3.4%

3.9%

9.2%

1.2% 5.1%

2013 2014 2015 2016 2017 2018 2019 2020

(Unit: W bn)

7,210 7,3658,152

8,941

9,88510,275

12,767

One-off item from CJ Healthcare disposals gain

One-off item from Gayang idle land

disposals gain

14,164

222

322 349 352 363 358 342

510

2013 2014 2015 2016 2017 2018 2019 2020

2,019 2,098 2,368 2,742 3,129 3,438

6,251 7,284

1,749 1,742 1,782

1,870 1,961 1,834

1,759

1,685

2013 2014 2015 2016 2017 2018 2019 2020

Foodstuff

Processed Food

III. Food Division 1) Overview

Annual Sales Trend

Resi l ient top l ine led by Processed Food’s double-digit growthStable margin thanks to greater contribution from Processed Food

10

6%8% 8% 8% 7% 7%

4%6%

(Unit: W bn)

Operating Profit and OPM

2013~2020 CAGRProcessed Food: 20% Foodstuff: -0.5%

(Unit: W bn)

18%

17%

15%

14%

14%

11%

8%

3%

Overseas7yr CAGR

54%

Domestic 7yr CAGR

9%

1,729 1,876 2,113 2,352 2,620 2,763 3,097 3,154 203 207

255 391

509 675

3,154 4,130

2013 2014 2015 2016 2017 2018 2019 2020

Fresh/Seafood

FrozenFood

Others

Seasoning/Sauce

Paste

Processed Meat

MicrowavableRice

Soup&Stew/Noodle

III. Food Division: Processed Food 2) Product Portfolio

Diversi f ied product categories from condiments to ready mealsSol id growth driven from both domestic and overseas business

Diversified Portfolio(excl. Overseas)

11* % of Domestic Processed Food revenue (2020)

Revenue Breakdown

(Unit: W bn)

* HMR(Home Meal Replacement) lies in all category, sized at about 17%

Schwan’sacquisition

(2019)

Seasoning

Canned Ham

MicrowavableRice

Red Pepper Paste

Soybean Paste

Mandu1)

Kimchi

Cooked Frozen

7.3

3.2 3.1 2.6 2.6 2.3 2.2

* Linkaztec(13~16) + Nielson(17~20)1) Korean Dumpling

Dominant No.1 player in Korean food industry from strong brand awareness and flavor qual ity

(Unit: W tn)

“Revenues of Major Player in Processed Food”

Market Presence Key Product M/S Trend

* Sales of CJCJ only includes sales with in PF division* As of 2020

III. Food Division: Processed Food 3) Domestic Business

12

46%

50%47%

48%

10%

38%

65% 67%

78%

84%

45%

61%

18%23%22%

46%

2013 2014 2015 2016 2017 2018 2019 2020

23.9%

27.2%27.9%

28.6%29.3%

30.2%

20.00%

22.00%

24.00%

26.00%

28.00%

30.00%

32.00%

2010 2015 2016 2017 2018 2019

Portion of Single Person Household

HMR projected to expedite its growth as consumers’ demand boosts up from favorable market conditions

III. Food Division: Processed Food 4) HMR: i) Market

13

1,606 1,544 1,682 2,268 2,742 3,216

(est)

Above W5tn

(est)478 498 847 884

1,049

W4.5tn(est)

W7tn(est)

2013 2014 2015 2016 2017 2018E 2022E

계열 2

계열 1

Convenience oriented product

HMR Market

(Unit: W bn)“HMR * Market Size”

(Unit: %, K person)

“Rise of Single person household 1)”

* HMR refers to, convenience oriented product, Mandu, curry, bread, noodles* Source) Korea Agro-Fisheries & Food Trade Corporation

1),2) Source) KOSIS(Korea Statistical Information Service)

Expediting growth after COVID19

Diversified Occasions

& Concepts

• Rise of Better For You / Silver & Care HMR- Needs for healthy and balanced meal lead BFY demand

Aging society leading growth of silver generation oriented product

Changes in People’s Lifestyle

• Flexible working hour led expansion in dine-in demand- Ratio of adopting flexible working hour by labor at 14.2%

(3.4%pt↑YoY)2)

- More time at home led steep growth on dine in demand

Growth of Online

Channel

• Growth of E-Commerce led large HMR growth- Online commerce(food) has grown by 53.1% YoY- Interest in HMR had large growth during COVID19

especially on online channel

Diversified Products

• Larger variety of HMR let people to choose what they wantFrom basic soup/stew, HMR has diversified in to variety of categories such as pizza, hot dog, munchies and etc.

Market leader in ‘HMR1)’ seeking for the tastiest, the healthiest and the most convenient choices

III. Food Division: Processed Food 4) HMR: ii) CJCJ

14

32.2 98.1 233.1 352.3 448.0 551.2

302.1 384.3

487.6

583.2 662.2

780.7

2015 2016 2017 2018 2019 2020

Hetbahn, Mandu, Kimchi

HMR

(Unit: W bn)

“CJCJ’s Sales of HMR and Related Products”

* Above figures does not follow IFRS 15 to show its sales trend

Premium• Expanding to premium niche market with healthier, richness concept

Launched “The Bibigo”(Healthy HMR Brand)

Our Market Presence and Future

Market Leader

• The number 1 player in soup/stew, porridge, hotdog and etc.Based on quality of products CJCJ managed to thrive in fierce competition and is placed as number 1 player in HMR

Expanding Occasions/Categories

Cup-bahn

Porridge

Soup/Stew

ETC

Main-dish Side-dish Snack/Appetizer

Cupbahn

Porridge Noodle

Soup/Stew

Cooked fish

Hotdog

Pizza OccasionExpansionCategory

Expansion

New Product New Product New Product

1) Home Meal Replacement. HMR category includes soup/stew, Gourmet frozen ready meal, Bibigo porridge etc. Mandu, Hetbahn(microwavable rice), Kimchi are not included in HMR category

US

81%

China

8%

Vietnam

5%Japan

5%Others

2%

US87%

China11%

Others 3%

2013 Sales W291bn($239mn)

2020 Sales W4,130bn($3,802mn)

US(5)

Products: Pizza, Asian Appetizer, Mandu, Noodle, Sauce, Paste, Seaweed, etc.

Products: Mandu, Chinese pickle, Seasoning, Tofu, etc.

Vietnam(3)

Australia(1)

Japan(4)

Products: Mandu, Fishball, Kimchi, etc.

Products: Fruit Vinegar for drink, Mandu, etc.

Products: Soup powder

China(5)

35 Global wide manufacturing faci l ities in US, China, Japan, VietnamOverseas revenue accounts for 57% of total Processed Food revenue

5) Overseas BusinessIII. Food Division: Processed Food

* Overseas revenue excludes exports from Korea 15

Germany(1)

Products: Mandu, Beef Roll, Sauce

Overseas revenue grew 31% YoY at W4,130bn($3,802mn) in 2020 taking up 57% of Processed Food’s sales thanks to acquisition of Schwan’s

III. Food Division: Processed Food

16

• Japanese Gyoja 12%• Sichuan Jixiangju(Zah cai, Paste) 50%

• 85% of sales from Schwan’s (Pizza 58%, Dessert/Appetizer24%, Home Service 16%)

• Sales portion at 63%

※ K-Food sales portion: Fruit Vinegar for Drink 59%, Ready Meal 14%, Condiments12%, Mandu 9%, Kimchi 6%

• Fruit Vinegar for Drink placed M/S #1 in diluted vinegar drink category

• 50% sales generated from Qingdao Food

※ Sales portion of Qingdao Food: Mandu 45%, Condiments/ Sauce 22%, Ready meal 9%

• To maximize sales of Mandubased on online brand awareness

• 15% sales generated from CJ Food

※ Sales portion of CJ Food: Mandu 45%, Noodle 17%,

Frozen Ready Meal 12%,Microwavable rice/ Seaweed/sauce 12%

W 3,328.6bn (81% of Global revenue)

W 328.4bn (8% of Global revenue)

W 210.1bn (5% of Global revenue)

5) Overseas Business

K-Food

Local

III. Food Division: Processed Food 6) Schwan’s

Revenue Breakdown (2020)

69% of overseas sales, 32% of Processed Food sales generated from Schwan’s Seeking for next giant leap in US market with advantages of Schwan’s

17

Revenue by Product Revenue by Business

Appetizers11%

Solid salesin B2C

• Profitability oriented pricing strategy coupled with building high ASP product portfolio

Recovery B2B Sales

• Recovery of K-12 and seeking for opportunities in B2B

• Expanding Asian Category Volume (Ex. Mandu Launching in K-12 Channel)

Main Strategies in 2021

Key Category Market Share

“Expansion of Asian Food by employing Schwan's competency in product/channel/distribution network

[ Schwan’s ]

✓Category

✓B2C Channel

✓B2B Channel

Pizza, Dessert, Asian Appetizer

Grocery : 30k Club: Sam’s Club

centered

School : K-12, College C-Store: 7-Eleven

Wrap Food(Mandu,eggroll etc.), Noodle

Grocery : 3K storesClub: Costco centered

Dining: Chinese chaincentered

[CJ]

Pizza1)Asian Snack2)

Pizza

58%

Appetizer

10%

Desserts

14%

Others(incl.HS)

18%

Consumer

Brand 57%Food

Service 19%

Strategic

Partner

Solution 8%

Others(incl. HS)

16%

1) IRI Market Advantage Custom Frozen Pizza Database. Costco Excluded2) IRI Market Advantage; Asian Products Aggs. Costco Excluded3) %ACV Weighted Distribution (All Commodity Volume in IRI)

Synergize with Schwan’s in US Food Biz

20.8%

41.0%

22.2%

39.6%

Schwan's Nestle

2019 2020

19.3%

25.1%24.3% 24.0%

Schwan's/CJF Ajinomoto

2019 2020

K-food Brand

building

• Targeting grocery Mandu ACV3) : 54%(‘20) ⇒ 60%(‘21)

• Strengthening Bibigo brand awareness

National wide DSD distribution Network✓Distribution

NY, CA based distribution network

III. Food Division: Processed Food 6) Schwan’s

Enlarging food biz in US by1)expanding Bibigo brand K-Foods, 2)innovating Asian product and brand, 3)premiumizing product and M/S #1 in Pizza category

18

[ US mid-term Business Target] [Main Strategy]

•Expanding channel by DSD *ACV: 54%(’20) ⇒ 75%(‘25)

•Settling Bibigo brand *household penetration: 4.2%(’21) ⇒ 25%(’25)

•Bibigo category expansion

Expanding K-Food from firmly settled Bibigo brand

Re-establishing of Asian brand,Creating new market by product innovation

No.1 pizza player by strengthening market position in mainstream market and premiumization

1)BFY(Better For You): Eco-friendly, Healthier product

•Pizza M/S ’21: 22.4% ⇒ ’25: high 20% target •Premiumization: Entering premium-mass market(Red Baron),responding BFY trend(Freschetta), developing high-endbrand•Expanding single-serve line-up from multi-serve

•Pagoda: product innovation & enlarged distributions •Annie Chun’s: Entering premium market with new

BFY1) noodle line-up

Mandu

Pizza

New Brand

②Frozen ready meal ③Shelf stable ready meal①Mandu

Frozen ready meal,K-sauce

ManduShelf stable ready meal, Kimchi, Seaweed

Market Opportunity

•Asian snack/Mandu market to grow after COVID19 •Rooms to expand Bibigo Mandu in grocery: Schwan’s penetrations in grocery(over 30k stores)

•Expansion of premium market in frozen pizza driven bydemand for BFY1) & restaurant quality product (Mainstream : W3 tr, Premium mass : W2.7 tr, Premium : W1.2 tr)

K-Food

(Mandu etc.)

Asian Food Pizza

“Targeting Sales to be Above W 6tr”

(2020~2025 target CAGR)High 30%

Low20%

Highsingle digit

27%

22%

42%

9%

III. Food Division: Foodstuff

Managing market volati l ity by product diversi f ication and cost leadershipAssuring perpetual cash inflow with minimal capital expenditure

19

Starch

Cooking Oil

Flour

Sugar

Foodstuff Product Portfolio

* % of Foodstuff revenue (2020) * Nielson, as of 2020, B2C only

46.7%

80.5%

55.3%

42.6%38.2%

Key Products’ Market Share

Product Portfolio and Market Share

•Microbial fermentation R&D technology

- Compatible production - Holds over 1,000 patents

3% 2%

8% 8%6% 7% 8% 11%

1,473 1,478

1,740 1,802

2,168

2,716 2,763 2,982

2013 2014 2015 2016 2017 2018 2019 2020

Ⅳ. Bio Division

(Unit: W bn)

1) Overview

Robust revenue growth (11% CAGR in 2013~2020) and stable margins based on CJCJ’s key competitiveness: 1)product portfol io divers i f ication, 2)global production base, 3)R&D technology

Annual Sales and OPM Key Competitiveness

20

PortfolioDiversification

R&D Technology

CompetitiveLocation

Global No. 1Green Bio Co.

•Global manufacturing facilities and sales network - 13 manufacturing facilities worldwide - Competitive logistic fee vs. peers - Stable sourcing of low raw material cost

•Portfolio diversification- 17 amino acids/products - Sales exposure: Lysine (2013 58%⇒2020 24%): High margin products (2013 20%⇒2020 31%)

Ⅳ. Bio Division 2) Competitiveness: i) Portfolio Diversification

Improving profitabi l ity thanks to product portfol io diversi f ication

21

Diversified product portfolio ...

58%53%

44% 45%38%

31%25% 24%

2013 2014 2015 2016 2017 2018 2019 2020

Lysine revenue portion

3.0%1.6%

8.0% 7.9%6.3% 7.1% 8.4%

10.5%

Bio OP Margin

... improves OPM

Type Launch Date Product Function Market size

(ton)

FoodAdditive

1968 MSGFlavor enhancement

3,300,000

1977 Nucleotide 60,000

2016 Cysteine,Citrulline

Muscle metabolism, antioxidant for skin

and hair-

2019 TasteNrich Flavor enhancement(natural culinary ingredient) -

FeedAdditive

1988 Lysine

Promote growth of hog & poultry,

Immune enhancement

2,400,000

2000 Threonine 650,000

2010 Tryptophan 41,000

2013 Valine 30,000

2013 Arginine 17,000

2015 Methionine 1,350,000

2017 SPC Improve nutritionalvalues -

* SPC: Soy Protein Concentrate

2009: 4 products ⇒ 2020: 17 products

Lysine, Threonine

Indonesia(2)

China(6)

Malaysia(1)

Lysine, Valine, Arginine, Nucleotide, Threonine, Cysteine

Methionine

Lysine, Tryptophan, MSG, Valine, Arginine, Nucleotide

US(1)

Brazil(2)

Lysine, SPC

Ⅳ. Bio Division

22

13 manufacturing faci l ities worldwide (China, Indonesia, US, Brazi l, Malaysia, Vietnam)Improved profitabi l ity through optimized sales & production allocation

2) Competitiveness: ii) Global Manufacturing Footprints

Vietnam(1) Soytide

Ⅳ. Bio Division 2) Competitiveness: iii) R&D Technology

23

Bio Process Intellectual Property Rights

Microbial Factory

Strain Development

Fermentation Process Refining Process

Process control using stable raw materials

Microbial fermentation process capability 2

55 yrs. of large-scale, commercial fermentation tech.

World’s best amino acid fermentation tech.1

Bio process innovation and product development

based on R&D platform

Key

Co

mpe

ten

ce

① Cost competitiveness through development of new technology

② Total solution with reinforced technical marketing

Strong microbial fermentation R&D technology •Compatible production of di f ferent amino acids (Tryptophan, Arg inine, Val ine) and

easy shi f t in raw mater ials (raw sugar ↔ glucose, starch sugar, glycer in) •Possesses more than 1,000 patents globally

Ⅳ. Bio Division 3) Global No.1 Bio Company

Global No.1 player in both feed additive (Lysine & Tryptophan & Val ine) and food additive (Nucleotide)

24* CJCJ’s estimates, based on sales volume

0%

10%

20%

30%

40%

2017 2018 2019 2020

Lysine

0%

20%

40%

60%

80%

2017 2018 2019 2020

Tryptophan

0%

20%

40%

60%

80%

100%

2017 2018 2019 2020

Valine

0%

20%

40%

60%

80%

2017 2018 2019 2020

Nucleotide

Market Share

ofMajor

Products

approx. 20%

approx. 60%

approx. 65%

approx. 70%

Ⅳ. Bio Division 4) New Business

Expanding business to White Bio f ields, based on ‘Microorganism fermentation tech’ and branching out to biodegradable plastic business

25

Expansion to White Bio biz and market opportunities in biodegradable plastic CJ PHA

Biodegradable plastic is substitutes of chemical material which its market size is at W1tr and expected to triple within 5 years• Intensified regulations on plastic by restricting plastic bags in Europe(2015), regulations on 10 marine plastic wastes1) (2021)

[ Comparisons on Different Biodegradable Materials ]

1) Plastics are the main source of marine waste and microplastics, about 9mn ton marine waste are disposed globally per year and 18k ton are from Korea2) Poly Hydroxy Alkanoate

Establishing manufacturing ground based upon PHA R&D tech•5,000ton/year manufacturing facilities by beginning of 2022•Efficient investment using existing facilities(utility, infra, fermentation tank, etc. in Pasuruan, Indonesia)•Only few companies possess core competences in PHA globally. CJ has gained it by acquiring Metabolix in 2016

PHA is an eco-friendly bioplastic,100% marine biodegradable•PHA2) is a polymer produced by microorganisms and can be biodegradable in nature such as soil/sea and can be applied to various uses•Pros compared to other bioplastic is that it’s from 100% bio components, substitute for disposable plastic such as vinyl, straw, etc.

Expanding to White Bio biz based on capabilities which accumulated from Green Bio biz such as strain development, fermentation procedure, management/production

GreenBio

WhiteBio

Industry which produces additives, functional materials, seeds from microorganisms and plants•Feed Additives: amino acid, vitamin etc.•Food Additives: amino acid, enzyme, flavors

Replacing plastic and chemical based materials from biological materials•Bio Fuel: Bio-ethanol, Bio-diesel•Bio Polymer: PLA, PHA, Cadaverine, Putrescine, etc.

Microorganism fermentation

Expanding

biz

Mat.Biodegradability

BIOCom.(%) Pros and Cons

Industry Household Soil Marine

PLA 100 Transparent but fragile

TPS 100 Cheap but fragile

PBAT 0Excellent physical property but is from petroleum

PHA 100Various physical property but high cost per unit

V. Feed & Care 1) Overview

Annual Sales and OPM

26

1,549 1,6181,805

2,013 2,113 2,1731,993

2,213

2013 2014 2015 2016 2017 2018 2019 2020

(Unit: W bn)

3%2% 3% 3%

-1%

2%1%

10%

Cyclicality by External factors

Among 2 Global focus markets, vertical integration and divers i f ication flattens inevitably cycl ical business

Domestic,

14%

Indonesia,

34%Vietnam,

34%

China, 10%

Others, 8%

Livestock,

37%Feed, 63%

Revenue by Business

Total revenue of 2020 W2.2tn($2.0bn)

10

15

20

10

40

70

2016 2017 2018 2019 2020 2021

Vietnam Hog Price(Left)Indonesia Chicken Price(Right)

(K Rp/Kg)(K VND/Kg)

China(9)

2) Overseas BusinessV. Feed & Care

27

Indonesia(6)

Vietnam(7)

Cambodia(1)

26 feed manufacturing faci l ities in Indonesia, Vietnam, China, etcGlobal revenue accounts for 86% of total Feed & Care’s revenue

2013 Sales W1.0tn 2020 Sales W2.2tn

Indonesia

39%

Vietnam

40%

China

12%

Philippines

6%

Others

4%Indonesia51%

Vietnam24%

China 18%Philippines 7%

Myanmar(1)

Chicken feed, Chicken

Hog feed, Hog

Hog feed, Hog

Philippines(2)

Ⅵ. CJ Logistics 1) Overview

Annual Sales and OPM

28

3,795 4,560

5,056

6,082

7,110

9,220

10,415 10,781

2013 2014 2015 2016 2017 2018 2019 2020

2% 4% 4% 4% 3% 3% 3% 3%

(Unit: W bn)

Revenue by Business

Sol id revenue growth (16% CAGR in 2013~2020) achieved through strengthening unrivaled market share of Parcel biz, and accelerating the growth of global business

CL

24%

Parcel

29%

Global

41%

E&C

6%

Total Revenue W10.8tn (2020)

OP by business

CL

35%

Parcel

39%

Global

20%

E&C

6%

Total OP W325.3bn (2020)

Ⅵ. CJ Logistics 2) Business Divisions

29

CJ Logistics is consisted of Contract Logistics(CL), Parcel, Global, and E&C

CustomerDelivery

& Return

Sub/HubTerminal

B2C

Storage(Production)

B2B

TransportationStorage(Sales)

Delivery

Port

InlandProcu.

P&DW&D

B2C

Forwarding

Parcel

CL / W&D

CL / P&D

Global

Summary Logistics company

WM/TM, focused on

in USA

Integrated (ocean

logistics company

No.1 transport logistics

India

Project logistics

in Middle East/CIS area

TCL Group's logistics

focused in 2PL

Comprehensive logistics

that diversifies its

FF, etc.

Project forwarding

logistics company

HQ Location USA Vietnam India UAE China Malaysia China

Overseas

Countries

in operation

USA Vietnam, Singapore,

Cambodia

India, Nepal UAE, Germany, UAE,

Italy, Iraq, Turkey, etc.

China, Poland Malaysia, Singapore China, Indonesia,

Africa, Nepal, Uganda,

Kenya, Zambia, etc.

CJL-A

Ⅵ. CJ Logistics 3) Contract Logistics(CL)

Best-optimized logistics service provider through operating Korea’s largest infrastructure and offering customized solution capabil ities

30

W&D(Warehousing & Distribution) P&D(Port & Delivery)

Expansionof

value chain

Freightspecializedsolutions

Largestlogistics

Infra-structure

Industry-specificservice

SCMconsultingcapability

Automaticlogisticssystem

1st in domestic contract logistics

40 countries

[Countries]

700 Corporateclients

[client company]

220 W&D centers4 Complex Terminals

[Infrastructure]

WHYwe are

different

1st in the domesticbulk stevedoring

196 units

[Machinery]

7,000 trucks

[# of daily average transport vehicles]

120 berthsat 31 trading ports

[Infrastructure][Market Share] [Market Share]

Ⅵ. CJ Logistics 4) Parcel

With 176 sub-terminals, 23,000 del ivery vehicles, 6 hub terminals including the Asia’s largest Megahub , CJ Logistics’ parcel service safely del ivers customer products

31

PARCEL

1st mobileconcierge

service

TES-basedautomatic

system

Korea’sLargestInfra-

Structure

CJL Megahub Gonjiam

1.7 billion boxes

50.1%

[Market Share]

13.3 million boxes

[MaximumDaily Volume]

6 hub terminals176 sub terminals23,000 vehicles

[Infrastructure] [Annual Capacity]

· Automatic sorting andclassification System

· Largest in Asia & 2nd largest globally

· TES-based advancedlogistics system applied

Market ShareDomestic Volume(Bn Box) CJL M/S

*Source : Korea Integrated Logistics Association

· Located near by metropolitan area

1.6 1.8 2.0 2.3 2.5

2.8 3.4

38.0%41.3%

44.4% 45.5%48.2% 47.2%

50.1%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

0

0.5

1

1.5

2

2.5

3

3.5

4

2014 2015 2016 2017 2018 2019 2020

32

2015 2016 2017 2018 2019 2020

Sales 8,152 8,941 9,885 10,275 12,767 14,164

COGS 5,805 6,323 7,084 7,525 9,343 9,906

(%) 71.2% 70.7% 71.7% 73.2% 73.2% 69.9%

Gross Profit 2,347 2,619 2,801 2,750 3,423 4,257

(%) 28.8% 29.3% 28.3% 26.8% 26.8% 30.1%

SG&A 1,760 1,994 2,245 2,133 2,821 3,216

(%) 21.6% 22.3% 22.7% 20.8% 22.1% 22.7%

Operating Profit 587 625 556 617 602 1,042

(%) 7.2% 7.0% 5.6% 6.0% 4.7% 7.4%

Net Profit 205 307 385 942 150 678

(%) 2.5% 3.4% 3.9% 9.2% 1.2% 4.8%

(Unit: W bn)

Ⅶ. Financial Statement

Summary of Income Statement (excluding CJ Logistics)

33

2015 2016 2017 2018 2019 2020

Sales 12,925 14,563 16,477 18,670 22,352 24,246

COGS 10,039 11,275 12,923 15,127 18,069 19,059

(%) 77.7% 77.4% 78.4% 81.0% 80.8% 78.6%

Gross Profit 2,886 3,288 3,555 3,544 4,283 5,186

(%) 22.3% 22.6% 21.6% 19.0% 19.2% 21.4%

SG&A 2,135 2,445 2,778 2,711 3,386 3,827

(%) 16.5% 16.8% 16.9% 14.5% 15.1% 15.8%

Operating Profit 751 844 777 833 897 1,360

(%) 5.8% 5.8% 4.7% 4.5% 4.0% 5.6%

Net Profit 254 354 413 925 191 786

(%) 2.0% 2.4% 2.5% 5.0% 0.9% 3.2%

(Unit: W bn)

Summary of Income Statement (including CJ Logistics)

Ⅶ. Financial Statement

34

Summary of Balance Sheet (excluding CJ Logistics)

(Unit: W bn)

2015 2016 2017 2018 2019 2020

Current Assets 2,860.5 3,464.0 3,267.9 3,458.3 5,726.8 5,053.3Quick Assets 1,774.6 2,199.5 1,980.9 1,984.8 3,728.7 3,217.1Inventory 1,085.9 1,264.5 1,287.0 1,473.5 1,998.1 1,836.2

Non-Current Assets 6,953.1 7,309.9 7,861.8 9,341.2 12,739.6 12,294.9Investments 1,611.6 1,489.0 1,181.0 1,952.4 2,015.8 1,748.2Right Of Use Assets 0.0 0.0 0.0 0.0 617.3 639.3Tangible Assets 4,859.4 5,210.2 5,717.4 6,365.1 7,211.5 6,897.9Intangible Assets 439.3 561.4 913.7 973.1 2,833.3 2,593.0Other Fixed Assets 42.8 49.3 49.7 50.6 61.7 416.5

Total Assets 9,813.6 10,773.9 11,129.7 12,799.5 18,466.4 17,348.2Current Liabilities 3,130.4 3,429.8 3,714.1 4,159.6 5,814.1 4,394.7Non-Current Liabilities 2,987.7 3,351.0 3,345.1 3,093.2 5,464.2 5,443.7

Net Debt 3,705.4 4,133.0 4,379.8 4,502.5 4,801.7 4,227.6Liability to Equity Ratio 166% 170% 173% 131% 157% 131%

Net Liability to Equity Ratio 150% 153% 161% 123% 137% 113%Net Debt to Equity Ratio 100% 104% 108% 81% 67% 56%

Total Liabilities 6,118.1 6,780.8 7,059.2 7,252.8 11,278.3 9,838.4Current Capital 72.4 72.4 72.5 81.9 81.9 81.9Capital Surplus 918.3 919.9 925.1 1,541.0 1,541.0 1,541.0Other Accumulated Earnings -116.6 -79.9 -472.0 -455.6 -435.8 -619.8Retained Earnings 2,331.0 2,561.5 2,895.6 3,727.2 3,800.9 4,381.0Minority Interest 490.4 519.2 649.3 652.2 2,200.1 2,125.6

Total Shareholders’ Equity 3,695.5 3,993.0 4,070.5 5,546.7 7,188.1 7,509.7

Ⅶ. Financial Statement

35

Summary of Balance Sheet (including CJ Logistics)

(Unit: W bn)

2015 2016 2017 2018 2019 2020

Current Assets 4,018.5 4,880.7 4,963.5 5,522.4 7,943.0 7,469.9Quick Assets 2,920.9 3,600.5 3,660.0 4,024.8 5,924.7 5,608.4Inventory 1,097.6 1,280.2 1,303.5 1,497.6 2,018.3 1,861.5

Non-Current Assets 9,732.8 10,885.5 11,904.7 13,974.6 18,337.6 18,142.0Investments 1,135.8 1,096.2 716.1 897.5 765.3 392.8Right Of Use Assets 0.0 0.0 0.0 0.0 1,705.0 1,698.4Tangible Assets 6,690.2 7,280.5 8,179.4 9,741.7 10,817.9 10,462.0Intangible Assets 1,737.3 2,333.8 2,758.1 3,069.9 4,810.2 4,517.5Other Fixed Assets 169.5 175.0 251.1 265.5 239.2 1,071.3

Total Assets 13,751.3 15,766.2 16,868.2 19,497.0 26,280.6 25,611.9Current Liabilities 4,335.7 4,699.2 5,496.9 6,680.4 8,202.2 7,082.7Non-Current Liabilities 4,030.4 5,006.5 5,227.4 5,508.4 8,611.3 8,362.8

Net Debt 4,975.5 5,739.2 6,396.9 7,267.9 6,756.5 6,075.6Liability to Equity Ratio 155% 160% 175% 167% 178% 152%

Net Liability to Equity Ratio 142% 147% 163% 158% 160% 134%Net Debt to Equity Ratio 92% 95% 104% 99% 71% 60%

Total Liabilities 8,366.1 9,705.7 10,724.3 12,188.8 16,813.5 15,445.5Current Capital 72.4 72.4 72.5 81.9 81.9 81.9Capital Surplus 918.3 919.9 925.1 1,541.0 1,541.0 1,541.0Other Accumulated Earnings -181.9 -149.4 -526.1 -582.4 -535.6 -755.3Retained Earnings 2,334.2 2,566.5 2,903.5 3,694.3 3,786.4 4,406.8Minority Interest 2,242.2 2,651.1 2,768.9 2,573.4 4,593.4 4,892.0

Total Shareholders’ Equity 5,385.2 6,060.5 6,143.9 7,308.2 9,467.1 10,166.4

Ⅶ. Financial Statement

36

Earnings results by division(excluding CJ Logistics)(Unit: W bn)

2015 2016 2017 2018 2019 2020

CJCJ

ExcludingCJL

Sales 8,152.2 8,941.3 9,885.2 10,275.3 12,766.8 14,163.7

Gross Profit 2,346.6 2,618.5 2,801.0 2,749.8 3,423.4 4,257.4

Operating Profit 586.5 624.5 556.3 617.2 602.1 1,041.5

EBITDA 938.5 999.0 633.0 1,045.7 1,272.6 1,840.7

Food Div.

Sales 4,150.4 4,612.5 5,161.5 5,271.8 8,010.5 8,968.7

Gross Profit 1,417.5 1,569.6 1,691.4 1,631.0 2,311.7 2,801.7

Operating Profit 348.5 351.9 320.7 357.5 342.1 510.0

EBITDA 517.7 537.9 308.7 562.9 751.9 1,020.9

Bio Div.

Sales 3,545.1 3,814.5 4,210.0 4,888.9 4,756.3 5,195.0

Gross Profit 685.5 770.9 822.7 1,055.9 1,111.7 1,455.7

Operating Profit 185.7 204.7 154.2 247.7 260.0 531.5

EBITDA 348.4 375.0 248.1 466.0 520.7 819.8

CJHealthcare

Sales 456.7 514.3 513.7 114.6 - -Gross Profit 243.6 278.0 286.9 62.9 - -Operating Profit 52.3 67.9 81.4 12.0 - -EBITDA 72.4 86.1 76.2 16.8 - -

Ⅶ. Financial Statement

* Disposed CJ Healthcare in Apr, 2018

Investor RelationsTel: +82-2-6740-2987, 3145, 2935, 3150, 2933

E-mail: cjcj.ir@cj.net

www.cj.co.kr