Investor Roadshow

1
Investor Roadshow
INGREDIENTS OF QUALITY INGREDIENTS OF QUALITY
INGREDIENTS OF QUALITY
Dublin, March 2004
2
Business Overview

• Business Overview
• Group Strategy

3
Tate Lyle Board Changes

• Iain Ferguson appointed Chief Executive 1 May
  2003
• Previously Senior VP, Corporate Development of
  Unilever PLC and NV. Previously Executive
  Chairman of Birds Eye Walls
• 25 years experience of the agricultural and food
  industries
• Stanley Musesengwa previously Chief Executive
  Officer of Tate Lyle Europe - Chief Operating
  Officer 1 May 2003

4
Group Management Committee Developing Strategy
and Delivering Results

• Group Management Committee

• Iain Ferguson, Chief Executive

Stuart Strathdee Corporate Development Director
Simon Gifford Group Finance Director
Stanley Musesengwa Chief Operating Officer
Robert Gibber Company Secretary General Counsel
5
New Operational CommitteeEfficiency and
Excellent Customer Service
Group Operational Committee Chaired by Stanley
Musesengwa
Four Divisional Heads

• Clive Rutherford
• Chief Executive,
• European Cereal
• Sweeteners Starches

• Lynn Grider
• President, N. American
• Cereal Sweeteners
• Starches

Mark White Chief Executive, European Cane Sugar
Silvio Allamandi President, North American Sugar
Three Functional Leaders
Jan Broekaert Human Resources Director, Europe
Loren Luppes Group President, Manufacturing
Technology
Pat Mohan President, Support Efficiency
Services
6

Group Structure
SUGAR
CEREAL SWEETENERS STARCHES

• TLS/Alcantara
• Sugar Trading
• United Molasses
• Eastern Sugar (JV)
• Redpath Sugar
• Occidente
• Vietnam
• Sucralose

• Staley
• Almex (JV)
• Citric Acid
• Amylum
• Eaststarch (JV)

7
Cereal SweetenersIndustry Consolidation and
Rising Utilization
Markets
Product
Raw Material
Corn
HFCS Corn Syrup Maltodextrins Polydextrose Dextros
e Crystalline Dextrose Fructose
Soft drinks Confectionery Brewing
Wheat
Baking Fermentation
Tate Lyle Product Volume over 4m tonnes
Tate Lyle Position
World No.1 Crystalline Fructose North America
No. 3 HFCS, No.2 Dextrose EU No.1 HFCS
(Isoglucose), No.2 Glucose
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StarchesInnovation Promoting Growth
Markets
Product
Raw Material
Corn
Food Beverages Pharmaceutical
Food Starches
Wheat
Paper Board Corrugating Building Materials
Textiles
Industrial Starches
Tate Lyle Product Volume over 1.5m tonnes
Tate Lyle Position
Global No.1 Industrial Starches North America
No. 2 in Commodity Specialty Food Starches
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Fermentation HydrogenationInvestment in
Organic Growth
World No.1 Citric Acid EU No.1 Grain
Alcohols
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SugarStable, Cash-generative Businesses

• TLS (UK) 42 share of UK industrial, 30 share
  of UK retail sugar markets
• Alcantara c. 50 of Portuguese market
• Regulatory protection under EU sugar regime
• Strong consumer brands
• Eastern Sugar poised to benefit from EU
  enlargement
• Other Markets Redpath (Canada), Occidente
  (Mexico), Nghe An (Vietnam)

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Group Strategy

• Business Overview
• Group Strategy

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StrategyConsistent, Relevant and Delivering
Results

• To focus the Group on core businesses
• To foster a high efficiency, low cost culture
  across the Group
• To increase the contribution from value added
  products
• Has worked well for the Group
• Evolving strategy
• Emphasis now on growth rather than disposal

13
Value Added StarchesThe Silent Partners of
Prepared Foods

• Increasing demand for convenience and nutrition
  driven by socio-economic change
• New opportunities for growing value-added
  ingredients
• Help to provide convenience, reduced calories and
  fat, and improved functionality

14
Delivering Growth Through New Product
Development

• Deliver growth internally using excellence in RD
  and new product development
• New biogum facility in Decatur on schedule for
  production mid-2004
• Development of new value added ingredients and
  sophisticated product portfolio is key growth
  driver

15
STA-SLIM Starch RangeValue Added Portfolio - Low
Fat Alternatives

• Used in crisps and snacks
• Delivers light and crispy texture
• Improves efficiency in production
• Lowers fat absorption when cooking
• Functional, healthy and tasty!

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Delivering GrowthThrough New Technology

• Deliver growth by bringing in new technology
• Acquiring
• Partnering
• Announced joint-venture with bio-tech company
  IGENE in March 2003 to produce natural
  astaxanthin, AquastaTM

17
Trading Outlook
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• EU Sugar Regime
• Eastern Sugar
• Citric Acid
• EU Wheat and Maize
• Annual Sweetener Pricing Rounds
• Realignment of Sucralose agreement with McNeil
  Nutritionals