MALEE Oppday60Q2 16/8/2017

1. Malee Group Public Company Limited
16 August 2017
Q2/2017 Opportunity Day

2. DISCLAIMERS
The information contained herein is intended to represent
the Company’s operating and financial position at a given
point in time and may also contain forward looking
information which only reflects expectations based on the
prevailing geo-political, economic and non-controllable
factors. Such information has been obtained from sources
believed to be most reliable and the means in analyzing
and preparation of such information for disclosure are
based on approve practices and principles in the
investment industry. The views are based on assumption
subject to various risks and uncertainties and no
assurance is made as to whether such future events will
occur. No assurance is made as to the accuracy or
completeness of information presented in this document.
Please note that the Company has agreed that any all
information in connection with CMG products and
manufacturing activities shall be kept strictly confidential
and not be disclosed to any third party.
2Malee Group Public Company Limited |

3. AGENDA
Company Overview
Business Update
Results of Operations and Profitability
Forward Looking
3Malee Group Public Company Limited |

4. Group Structure
4
100% 49%49%100%
Stock Symbol: MALEE
Industry and Sector: Agro & Food Industry / Food and Beverage
No. of Listed Shares: 280,000,000 Shares
Registered Capital: THB 140,000,000
Paid-up Capital: THB 140,000,000
Par Value: THB 0.50 per Share*
Listing Date: 13 March 1992
Foreign Limit: 49% (available 40.36%)
Dividend Policy: Not less than 50% of the net profit from normal operation according
to consolidated financial statement after deduction of tax revenue
and legal reserve (with additional conditions)
Market Capitalization: 9,450MB or 284MUSD
Free Float: 48.45%
* A new par value has been changed from THB 1.00 to THB 0.50 per share since 16 May 2017.
Malee Enterprise
Co., Ltd. (MEC)
“Domestic Sale and
Marketing”
Abico Holdings
Plc
26.8%
Kamolchat
Jeungrung-
reungkit
19.2%
Thai NVDR
4.6%
Others
49.3%
A leading manufacturer and distributor of fruit juices, beverages,
and canned fruits in Thailand
100%
Agri Sol Co., Ltd.
(AGR)
“Dormant”
Malee Harvest Co., Ltd.
(MHC)
“Agro Business”
Monde Malee Beverage
Corp. (MMBC)
“Beverage Business in
Philippines”
Mega Malee Co., Ltd.
(MMC)
“Natural Health Drinks”
Malee Applied Sciences
Co., Ltd. (MAS)
“Innovation Research &
Development”
100%
Malee Group Public Company Limited |
Share Information (As of 15 August 2017)Shareholding Structure (As of 9 May 2017)
JV partner: Monde Nissin Corporation JV partner: Mega Lifesciences Plc.
Malee Group
Plc.
“Manufacturing and
Exporting”
Subsidiary
Joint Venture

5. Milestones
1981 1992 1995 1998 20161978
The Company expanded
its production base on the
land of 30 rais in Sampran
District, Nakhon Pathom
Province.
On 2 February 1978,
Malee Sampran Factory
Co., Ltd. was established
with capital of 10MB as a
manufacturer and
distributor of canned
food and canned fruits.
In April 1995, Abico
Holdings Plc acquired
40% from the existing
shareholders.
On 3 March 1992,
MALEE was listed
on the Stock
Exchange of
Thailand (SET).
• In Q1/2016, MALEE, together with
Monde Nissin Corporation (MNC)
set up a joint venture company in
the Philippines named Monde Malee
Beverage Corporation (MMBC)
• On 12 May 2016, the Company’s
name was changed to Malee Group
Plc
• On 22 August 2016, the Company
signed a joint venture agreement
with Mega Lifesciences Plc to
develop natural health-focused RTD
products.
Malee Group Public Company Limited | Powerpoint Template 5
2017
On 15 May 1998,
the Company’s
name was changed
to Malee Sampran
Plc.
• On 12 January 2017,
the Company set up a
new subsidiary named
Malee Applied Sciences
Co., Ltd. (MAS).

6. 1,600 1,682 1,537
1,931
2,140 2,357
2,615 2,706 2,822 2,964
1,308
2,405 2,021
1,546 898
1,510
1,737
1,603
2,065
2,567
3,578
1,577
(93)
(295)
131 106
228
646
283 307 331
530
180
-1,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 6M/2017
Unit: Baht Million
CMG Sales Branded Sales Net Profit
Historical Performance
6
CMG: Contract Manufacturing
• Prior to 2009, major contribution of CMG was from
canned fruits.
• Discontinued the canned pineapple production in
2009 and canned sweet corn in 2013.
2016: Historical Highest
Sales2012-2013: Benefit from the
great flood
Malee Group Public Company Limited |

7. Daily Nutrition
Functionality Tactical
Malee 100%
Juice UHT
Malee 100%
Juice
Pasteurize
Malee
Coco
Malee
Nutrients
Malee
i-Corn
Malee
Healti
Plus
Malee Food
Service
Malee
Tropical
Malee
Canned
Fruit
OTHERS
Canned Fruit
Dairy Product
Other Beverages
First Choice Farmer
Chokchai Farm
Canned Sweetened
Condensed Non Dairy
Creamer
TurBusta Maxx
Malee
Light
MALEE BRAND PORTFOLIO
Malee Group Public Company Limited | Powerpoint Template 7
UHT Pasteurize

8. AGENDA
Company Overview
Business Update
Results of Operations and Profitability
Forward Looking
8Malee Group Public Company Limited |

9. Domestic Beverage Market
9
Source: Nielsen
Malee Group Public Company Limited |
Beverage faced slowdown across categories, although key brands were able to secure strong distribution but demand loss remained an
issue for most with lower uplift in recent summer period.
MAT Jun 2017 Overall Beverage Market Dropped 4% YoY
Demand issue from OT
Demand loss across key brands
Demand issue from OT

10. Premium Market
(100% RTD Fruit Juice)
5,054MB
38%
Medium Market
(40-99% RTD Fruit
Juice)
1,254MB
9%
Economy Market
(20-39% RTD Fruit
Juice)
2,771MB
21%
Super Economy Market
(<19% RTD Fruit Juice)
2,339MB
18%
Others
1,891MB
14%
(-0.4% YoY)
(-16% YoY)
(+0.3% YoY)
(-16% YoY)
(+13% YoY)
Domestic RTD Fruit Juice Market
10
Source: Nielsen
Malee Group Public Company Limited |
MAT Jun 2017 Market Value of 13,311 MB, a Decrease of 6% YoY

11. Premium Juice UHT Market Share
11
MAT Jun 2017 Market Value of 4,719 MB, Growth of 2% YoY
Tipco
28%
Malee
21%
Unif
12%
Doikham
22%
Cocomax
8%
Others
10%Tipco
29%
Malee
22%
Unif
14%
Doikham
19%
Cocomax
8%
Others
8%
MAT Jun 2016 MAT Jun 2017
Source: Nielsen
Malee Group Public Company Limited |

12. 57% 52% 45% 46% 45% 46% 45%
43% 48% 55% 54% 55% 54% 55%
2014 2015 2016 Q2/16 Q2/17 6M/16 6M/17
CMG
Brand
Sales Structure
12
CMG: Contract Manufacturing
Domestic : International Business Brand : Contract Manufacturing
Malee Group Public Company Limited |
78% 72%
61% 63% 59% 64% 58%
22% 28%
39% 37% 41% 36% 42%
2014 2015 2016 Q2/16 Q2/17 6M/16 6M/17
Export
Domestic
 Q2/2017 Domestic sales growth was -27% YoY.
 Q2/2017 Export sales growth was -12% YoY.
 Q2/2017 Brand sales growth was -22% YoY.
 Q2/2017 CMG sales growth was -21% YoY.

13. Domestic Business – New Packaging Launch
13
New Products
Malee Group Public Company Limited |
AWARENESS
Full media support both online and offline
New TVC
Press conference
DRIVE SALES
Nationwide extra display
Roadshow both in-store and off-store
Free sampling/Demo tasting
Special trendy pack / Special Premium
ENGAGEMENT
Engage activity to invite customers to be apart
of our life style activities; concert, movie,
online game

14. 6M/2017 Branded Export Sales by Country
14
New Products
Malee Group Public Company Limited |
Cambodia
32%
China
20%
Philippines
11%
Hong Kong
9%
Myanmar
5%
Others
23%
6M/2017 Branded Export Growth of 25% YoY

15. AGENDA
Company Overview
Business Update
Results of Operations and Profitability
Forward Looking
15Malee Group Public Company Limited |

16. Financial Highlights
16
 Q2/2017 Net profit decreased by 57% YoY mainly due to higher
cost per unit resulted from lower capacity utilization; higher
depreciation resulted from additional investment in machinery to
improve production efficiency, reduce production cost, and
prepare for increased level of production; lower sales proportion
in Branded domestic sales which contribute high gross margin;
marketing activities to reduce stock at trade stores and prepare
for new packaging launch in Q3; and increased administrative
expenses from higher personnel expenses to prepare for the
Company’s upcoming leaping growth in the future.
 Q2/2017 Sales decreased by 21% YoY due to the slowdown in
domestic sales and CMG business.
 Despite lower sell-in Branded domestic sales to reduce
inventory at trade stores to prepare new packaging launch in
Q3, the Company has gained more market share due to higher
sell-out to consumers in the market.
 Branded export sales continued to grow steadily by c.20%.
Malee Group Public Company Limited |
4,771
5,389
6,541
1,741 1,370
3,274 2,885
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
2014 2015 2016 Q2/16 Q2/17 6M/16 6M/17
Sales Revenue
Unit: Million Baht -12%
YoY
-21%
YoY
307 331
530
143
61
252
180
0
100
200
300
400
500
600
2014 2015 2016 Q2/16 Q2/17 6M/16 6M/17
Net Profit
Unit: Million Baht
-57%
YoY
-29%
YoY

17. Profitability Margin
17
 Lower Q2/2017 GPM was resulted from higher cost per unit due to
lower utilization; higher depreciation resulted from additional
investment to improve production efficiency, reduce production
cost, and prepare for increased level of production; as well as lower
sales proportion in Branded domestic sales which contribute high
gross margin as the Company sold in less to reduce stock at trade
stores and prepare for new packaging launch in Q3.
 Improved Q2/2017 selling expenses to sales was supported by the
group’s cost control policy and increased sales ratio of CMG.
 Increased Q2/2017 administrative expenses to sales was due to
higher personnel expenses to prepare for the upcoming leaping
growth in the future, gradual improvement of employee benefits to
enhance competitiveness compared to the industry as well as higher
R&D expenses for new product development.
 Lower Q2/2017 NPM was resulted from decreased profit due to
lower capacity utilization; higher depreciation resulted from additional
investment to improve production efficiency, reduce production cost,
and prepare for increased level of production; lower sales proportion
in Branded domestic sales which contribute high gross margin;
marketing activities to reduce stock at trade stores and prepare for
new packaging launch in Q3; and increased administrative expenses
from higher personnel expenses to prepare for the Company’s
upcoming leaping growth in the future.
Malee Group Public Company Limited |
33.7% 31.4% 32.2% 31.6% 27.6% 30.9% 29.5%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
50.0%
2014 2015 2016 Q2/16 Q2/17 6M/16 6M/17
%Gross Profit Margin
6.4% 6.1%
8.1% 8.2%
4.4%
7.7%
6.1%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
2014 2015 2016 Q2/16 Q2/17 6M/16 6M/17
%Net Profit Margin
18.6% 17.4% 14.4% 14.8% 14.3% 14.7% 13.8%
7.6% 7.0%
7.1% 6.6% 8.9% 6.7% 9.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
2014 2015 2016 Q2/16 Q2/17 6M/16 6M/17
%SG&A to Sales
%Admin/Sales
%Selling/Sales

18. Statements of Financial Position
18
 Increased total assets were mainly resulted from
additional investment to improve production
efficiency, reduce production cost, and prepare for
increased level of production in the future.
 Increased liabilities were mainly due to higher trade
payables resulted from the preparation of packing
materials for the crop season for the canned fruit
production in Q2 and Q3 as well as an increase in
short-term loans from financial institutions for the use
of the Company’s working capital. .
 Increased equity of parent Company's shareholders
was contributed by operating profit during the year.
Malee Group Public Company Limited |
2,992 3,042
3,640 3,808
0.0%
50000.0%
100000.0%
150000.0%
200000.0%
250000.0%
300000.0%
350000.0%
400000.0%
450000.0%
2014 2015 2016 Q2/17
Total Assets
Unit: Million Baht
1,976 1,788 2,061 2,217
0.0%
50000.0%
100000.0%
150000.0%
200000.0%
250000.0%
2014 2015 2016 Q2/17
Total Liabilities
Unit: Million Baht
1,012
1,250
1,575 1,591
0.0%
20000.0%
40000.0%
60000.0%
80000.0%
100000.0%
120000.0%
140000.0%
160000.0%
180000.0%
2014 2015 2016 Q2/17
Equity
Unit: Million Baht

19. Liquidity
19
 Lower current ratio and quick ratio was mainly due to lower
trade receivables, higher trade payables as well as higher
short-term loans from financial institutions for the use of
the Company’s working capital.
 Slightly improved cash cycle days was due to longer
payment days resulted from higher trade payables resulted
from the preparation of packing materials for the crop
season of the canned fruit production in Q2 and Q3,
despite extended inventory days and collection days.
 Increased IBD/E was due to an increase in short-term
loans from financial institutions for the use of the
Company’s working capital.
 Increased D/E was resulted from higher short-term loans
for the use of working capital and elevated trade payables.
Malee Group Public Company Limited |
0.98
1.13
0.95
0.85
0.53
0.66
0.50 0.44
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
110.0%
120.0%
2014 2015 2016 Q2/17
Current Ratio (x) Quick Ratio (x)
1.12
0.68 0.75 0.83
1.95
1.43 1.31 1.39
0.0%
50.0%
100.0%
150.0%
200.0%
250.0%
300.0%
350.0%
2014 2015 2016 Q2/17
IBD/E (x) D/E (x)
49 43 32 41
52 57 45 47
88 76
64 70
91 90
77 76
0.0%
5000.0%
10000.0%
15000.0%
20000.0%
25000.0%
30000.0%
2014 2015 2016 Q2/17
Cash Cycle Days
Avg. Inventory Days
Avg. Collection Days
Avg. Payment Days

20. 0.750
0.525 0.555 0.600
0.950
0.300
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
2012 2013 2014 2015 2016 6M/2017
Dividend per Share
Remark: Adjusted at par value of Baht 0.50 which was effective on 16 May 2017
Return to Shareholders
20
 The Company has a policy to pay dividend not less than
50% of the net profit from normal operation according to
consolidated financial statements after deduction of tax
revenue and legal reserve (with additional conditions).
 The Company normally pays dividend twice a year.
Unit: Baht
 Lower ROA was due to decreased earnings but increased
assets as a result of additional investment to improve
production efficiency, reduce production cost, and prepare
for increased level of production in the future.
 Lower ROE was due to decreased earnings but slight
increased equity as a result of higher retained earnings.
Malee Group Public Company Limited |
15.5% 14.8%
20.4% 18.2% 15.8%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
2014 2015 2016 6M/16 6M/17
ROA
33.3% 29.3%
37.5%
32.5% 30.6%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
2014 2015 2016 6M/16 6M/17
ROE

21. AGENDA
Company Overview
Business Update
Results of Operations and Profitability
Forward Looking
21Malee Group Public Company Limited |

22. Coconut Water Trends
22
Background and Impact:
 Coconut water has become a permanent and big category globally (in particular for developed countries), so a proper
standard has been set for this category
 As a leading manufacturer of coconut water in Thailand, we are taking preventive measures to ensure Thai coconut
qualities and drive coconut water industry in Thailand to be recognized from trusted quality worldwide
 This involves working with all parties along the value chain, from farmers all the way up to our own facilities
 The Company’s new quality check system will create traceability and enhance sustainable growth for coconut water
market (especially for Thailand’s competitiveness)
 Due to this roll out, coconut water sales are expected to show no growth in 2017 but will be back on track in 2018.
Even though it has a negative short term impact in terms of quantity, the growth will be much more sustainable in the
long-run.
Malee Group Public Company Limited |

23. New Excise Tax Components on Non-alcoholic Beverages
23
New Excise Tax Components:
1. T% of suggested retail prices
2. Sugar content X baht/ liter
Malee Group Public Company Limited |

24. New Excise Tax Structure on Non-alcoholic Beverages
24
Source: Excise Department (Translated from Thai version)
Existing Structure New Structure
Management fees
+ Profit
Excise Tax:
20% of Ex-factory prices
Ex-factory prices
Excise Tax:
T% of suggested retail prices
+ Sugar content X baht/ liter
Product Costs
+ Management fees
+ Standard profit
VAT 7% VAT 7%
Malee Group Public Company Limited |

25. Guidelines for Sugar Tax on Non-alcoholic Beverages
25
Source: Excise Department (Translated from Thai version)
16 Sep 17 – 30 Sep 19 1 Oct 19 – 30 Sep 21 1 Oct 21 – 30 Sep 23 1 Oct 23 onwards
Incentive
2 years 2 years2 years
Malee Group Public Company Limited |

26. Key Growth Areas in 2H/2017
26Malee Group Public Company Limited |
Solid growth in
export branded
New products &
new packaging
launch and
marketing
campaign for
domestic
branded in H2
Added products
from CMG
customers
A new
manufacturing
line which is the
world’s newest
technology will
be ready for
production in Q4

27. 4R Strategy
27Malee Group Public Company Limited |
RENOVATE
REORGANIZE
RECONNECT
• Brand Identity
• Brand Concept “Growing
well together”
• Product Portfolio
REBRAND
• Strategic Partners
• Capability and Skill
• New Function
• Motivation
• Master Plan
• New Machine / Technology
• IT
• New Office
4R Strategy
to become
a Health-Driven
Global F&B Firm

28. Forward Looking
28
Domestic Brand:
Renovations
Portfolio Management/
New Products & New
Packaging Launch
CMG:
Diversification
Product Categories &
Customers
International
Business:
Strategic Expansion
Malee Group Public Company Limited |

29. Share Endorsements
29
Added to MSCI Global Small Cap Indexes
Effective as of the close of 30 November 2016
Partner
“Very Good” Level of CG Scoring
Selected to be a constituent stock of SET100 Index
For calculating the index during 1 July - 31 December 2017
Malee Group Public Company Limited |

30. Thank You
For more information, please visit our website: http://www.malee.co.th
or contact: ir@malee.co.th. Tel: +66 2080 7899 Ext 1137