COSMO FIRST LIMITED

65%

y label films Unique Proposition  Uniquely positioned with good mix of specialty/semi specialty (65% volume H1FY’24) and commodity films.  Globally among top four players in BOPP World’s largest

rs,

o build India’s largest Pet care ecosystem with presence across the channels i.e. experience centers, online, mobile vans etc ESG & Sustainability “CareEdge Good” Rating  Environment: Focus on reducin

2.5Lakh

een energy at plants, waste reduction, water treatment etc  Social: Education to 20k+ students, 2.5Lakh lives touched in the fight against COVID-19  Governance: Strong Independent board with 67% of

67%

.5Lakh lives touched in the fight against COVID-19  Governance: Strong Independent board with 67% of Independent Directors Strong Financials  Continuous growth and profitability Strong R&D Focu

80%

emical launched some India first products Speciality films focused business with target to sell 80% BOPP based volume of speciality films by FY25 (H1FY24 65%). Verticals: Masterbatch (From FY21)

25%

is D2C, Digital First Omni Channel platform for Pets (Petcare is high growth Industry growing at 25% CAGR) Company Overview - Key Milestones ►Established in 1981, Cosmo Films Ltd.is the pioneer of

13%

Expanding Speciality & Semi-Speciality films portfolio (high margin category) (H1’FY24 65% volume; 13% CAGR over last 4.5 years).  Target 80%+ volume from Speciality & Semi Speciality segment by 2025

120%

AGR over last 4.5 years).  Target 80%+ volume from Speciality & Semi Speciality segment by 2025. 120% 100% 80% 60% 40% 20% 0% 38% 62% FY19 43% 57% FY20 52% 48% FY21 64% 36% FY22 62%

100%

ver last 4.5 years).  Target 80%+ volume from Speciality & Semi Speciality segment by 2025. 120% 100% 80% 60% 40% 20% 0% 38% 62% FY19 43% 57% FY20 52% 48% FY21 64% 36% FY22 62% 38%

60%

5 years).  Target 80%+ volume from Speciality & Semi Speciality segment by 2025. 120% 100% 80% 60% 40% 20% 0% 38% 62% FY19 43% 57% FY20 52% 48% FY21 64% 36% FY22 62% 38% FY23 80

40%

rs).  Target 80%+ volume from Speciality & Semi Speciality segment by 2025. 120% 100% 80% 60% 40% 20% 0% 38% 62% FY19 43% 57% FY20 52% 48% FY21 64% 36% FY22 62% 38% FY23 80 70

20%

 Target 80%+ volume from Speciality & Semi Speciality segment by 2025. 120% 100% 80% 60% 40% 20% 0% 38% 62% FY19 43% 57% FY20 52% 48% FY21 64% 36% FY22 62% 38% FY23 80 70 60

“ Target 80%+ volume from Speciality & Semi Speciality segment by 2025.”

“We expect the trend to continue this year and shall normalize by next financial year.”

“ The near to medium term BOPP and BOPET margins are expected to remain subdued, more so for BOPET films due to an industry-wide supply overhang (58% capacity increase over Dec 21 capacity in BOPET vs.”

“ Company with diversified businesses with target 20% CAGR topline growth in next 3 years coupled with commensurate return growth  Potential high Growth Engines include Speciality Films, Speciality Chemicals and a digital first, D2C Petcare business  Speciality Films:  Expanding Speciality portfolio (65% Volume H1’FY24; 13% CAGR in last 4.5 years).”

“Expansion expected in next one year  Coating Chemicals – scale up in coming years  Complimentary Adhesive business for Packaging, Lamination and Labels – FY24  Target 25%+ ROCE business  Petcare:  Untapped Industry growing @ 25%+  D2C Digital first Omni-channel presence in Products & Services  Monthly GMV Rs 2 crore with 15 experience centers & online presence – Target 100+ experience centers in next a couple of years.”

“ Plan to demerge Petcare vertical into separate company in medium term.”

“Capex Project 1 2 BOPP Line (World’s Largest Line) CPP Films Line (World’s Largest Line) Total Estimated Capex (INR Crs) 350 140 490 Annual Capacity (MT) 67,000 25,000 Estimated Commercial Production by H1’FY 2026 H1’FY 2025”

“ Sustainable solutions  Future Pipeline:  Direct Thermal Printable Film (first BOPP film producer to launch)  Sustainable PVC free solutions for graphic applications  Heat reduction films and Shrink Label film  Heat Control Film:  Global Market size US$ 10 billion and expected to grow at 5% CAGR  Increasing demand for films in the building and construction industry is expected to grow of the market.”

“ Target to reach 7%-8% of Company's consolidated revenue in 3-5 years from masterbatches with 25% ROCE BUSINESS OVERVIEW D2C PETCARE UNDER BRAND “ZIGLY” Rs 12500 Cr Indian Petcare Market 25% Rs 5100 Cr 19% Rs 3000 Cr Pet penetration in developed markets like US & UK is more then 68% and growing.”

Verticals

1

Notes

1

Films Business

1

Other Businesses

1

Verticals

Masterbatch (From FY21) Coating Chemicals (From FY22) Adhesive (From FY24) Zigly is D2C, Digital First Omni Channel platform for Pets (Petcare is high growth Industry growing at 25% CAGR) Company Overview - Key Milestones ►Established in 1981, Cosmo Films Ltd.is the pioneer of BOPP Films Industry in India; ►Today leading Specialty film player globally and leading BOPP player in India ►3rd and 4th extrusion coating line; ►1st coating line; ►Gas based electricity generation unit 2006 ►2016: CPP line-1 ►2017: 10th BOPP line ►Petcare ►Speciality Chemicals 2022 2016-17 ►2012: 2nd coating line ►2013: 9th BOPP line ►2014: 3rd coating line 2012-14 ►2010: 2nd metallizer line ►2011: Korea plant 2010-11 2023 ►Re-branded to Cosmo First Limited ►Specialized BOPET Line 2021 2018-20 ►2018: CPP line-2 ►2020: 6th coating line Masterbatch Line-1 2015 ►4th and 5th coating line; 3rd metallizer line; Upgradation of US plant ►1996: 3rd BOPP line ►2001: 4th BOPP line 1996-01 1981-88 ►1981: 1st BOPP line ►

Notes

1) Speciality margins per/kg have witnessed a marginal decline in H1’FY24 owing to change in sales mix and uneven orders from a specialty export customer for a high margin speciality film. We expect the trend to continue this year and shall normalize by next financial year. 2) Margins denote per/kg contribution for respective films categories. SEPTEMBER 2023 QUARTER RESULTS UPDATE September 2023 Quarter - Performance Snapshot Unaudited Q2 FY 23-24 Unaudited Q1 FY 23-24 Particulars Consolidated 658 Net Sales 55 EBITDA 8.4% EBITDA % 16 PBT 14 PAT EPS* 61 * EPS is calculated on the TTM basis after adjusting for bonus issue in June’22 and buyback. Management Commentary Consolidated 664 72 10.9% 29 22 43 Standalone 602 46 7.7% 9 9 50 Standalone 617 71 11.5% 30 23 34 INR Cr Unaudited Q2 FY 22-23 Standalone 725 117 16.2% 93 69 122 Consolidated 778 124 15.9% 97 73 141  Improved Q2, FY24 EBITDA is underpinned by enhanced BOPP film margins primarily due to festive season demand pick, partial re

Films Business

S.No. Capex Project 1 2 BOPP Line (World’s Largest Line) CPP Films Line (World’s Largest Line) Total Estimated Capex (INR Crs) 350 140 490 Annual Capacity (MT) 67,000 25,000 Estimated Commercial Production by H1’FY 2026 H1’FY 2025

Other Businesses

 Specialized Chemicals (scaling up in coming years) – Estimated INR 50 Cr Capex in next 3 years.  D2C Pet Care businesses (19 nos. of experience centers as at Sept 2023 – plan to significantly increase to 100+ in a couple of years beside online business) BUSINESS OVERVIEW “FILMS BUSINESS” Films Business-India Industry Dynamics & Capex Strategy Data Source: AMI/PCI/Other Independent Research and Industry Sources Films Business - Speciality Films Product Portfolio PACKAGING FILMS LAMINATION FILMS LABEL FILMS INDUSTRIAL FILMS o Print & Pouching Films o Tape & Textile Films o Barrier Films o Overwrap Films o Heat resistant Film o Thermal Lamination & Wet o Pressure Sensitive Label Lamination o Special Application Lamination Films o Premium Lamination Films stock films o Direct Thermal Printable films o In-mould films o Wrap Around label films o Synthetic paper o Cable Overwrap o Other Specialized Film Films highlighted above in red color are Specialty Films, while with blue color include