Confidential

Investor PresentationJune 2017

Confidential

Table of Contents

1. Company Overview 5

2. Key Highlights 11

3. Historical Financials 21

4. Conclusions 27

Confidential

Forward Looking Statement

This presentation contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this presentation are

forward-looking statements. Forward-looking statements are based on our current expectations and assumptions relating to our financial condition, results of operations, plans,

objectives, future performance and business. Specifically, these statements include, among other things, statements that describe our expectations for the growth of our business,

expansion into new geographic markets, maintaining and expanding our relationship with key retail partners, the financial impact of new sales contracts on our revenue, our plan to make

significant capital expenditure, and other statements of management's beliefs, intentions or goals. You can identify forward-looking statements by the fact that they do not relate strictly

to historical or current facts. These statements may include words such as "foresee", "forecast", "anticipate:' "estimate," "expect," "project," "plan," "intend," "believe" and other words

and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. These forward-looking statements

are based on assumptions that we have made in light of our industry experience and on our perceptions of historical trends, current conditions, expected future developments and other

factors we believe are appropriate under the circumstances. As you consider this presentation, you should understand that these statements are not guarantees of performance or

results. They involve risks, uncertainties (many of which are beyond our control) and assumptions, some of which are described under "Risk Factors” in our Annual Reports on Form 20-F

and our Registration Statement on Form F-l filed with the Securities and Exchange Commission. You should be aware that many factors could affect our actual financial results and cause

them to differ materially from those anticipated in the forward-looking statements. Since we operate in an emerging and evolving environment and new risk factors and uncertainties

emerge from time to time, you should not rely upon forward looking statements as predictions of future events. We undertake no obligation to update any forward-looking or other

statements herein to reflect events or circumstances after the date hereof, whether as a result of new information, future events or otherwise.

Because of these factors, we caution that you should not place undue reliance on any of our forward-looking statements. Further, any forward-looking statement speaks only as of the

date on which it is made. New risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect us. We have no duty to, and do not

intend to, update or revise the forward-looking statements In this presentation after the date of this presentation.

This presentation contains estimates and projections regarding market and industry data (including competitive position) that were obtained from Internal company surveys as well as

third-party sources such as market research, consultant surveys, publicly available information and industry publications and surveys. Third party industry publications, studies and

surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such

data. While the Company reasonably believes that each of these publications, studies and surveys, has been prepared by a reputable source, neither the Company, nor any connected

persons of the Company, or their respective agents, employees or advisers has independently verified the data contained therein. Market and industry data are subject to change due to

limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other limitations and uncertainties inherent in any statistical survey,

interpretation or presentation of market and industry data and management's estimates and projections. In addition, projections are often wrong. As a result, you should be aware that

market and industry data set forth herein, and estimates, projections and beliefs (i) based on such data and (ii) relating to certain financial and performance metrics presented herein,

may not be reliable. We have not independently verified any of the data from third-party sources or ascertained the underlying economic assumptions relied upon therein; accordingly

we cannot guarantee the accuracy or completeness of any such data. Similarly, internal surveys, which we believe to be reliable, are based upon management's knowledge of the industry

as of the date of such surveys and have not been verified by any independent sources and are subject to change. As a result, we cannot guarantee the accuracy or completeness of any

such information and you should not place undue reliance on such information when making an investment decision.

By accepting this document you agree to accept the terms set out above and to be bound by the foregoing limitations. All subsequent written and oral forward looking statements

concerning the proposed transaction or other matters and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary

statements referenced above.

Market and Industry Data

3

Confidential

COMPANY OVERVIEW

Confidential

A Rich Heritage with Over 100 Year Legacy

• Since its founding in 1915, Amira has evolved from a domestic, family owned Indian business to a professionally managed, growing,

global branded publicly traded packaged food company

• The Company has received numerous accolades:

� Multiple years since 2010, Amira has been recognised by the World Economic Forum as a “Global Growth Company”, an invitation-

only community consisting of ~300 of the world’s fastest-growing corporations

� Inc. India featured Amira as one of India’s fastest growing mid-sized companies in 2010, 2011, 2012 and 2013

� Voted one of “Asia’s Most Promising Brands” by the WCRC group in 2013

� Voted “INDIAN POWERBRAND” in the Food Category by Planman Marcom in 2011 and 2013

� Best Partner in the “Staples” category in 2013 at the Bharti Walmart Private Limited Annual Supplier Conference

� VWP World Brand recognised the Amira Brand as “The Admired Brand of India” in 2014–2015

1915Founded as an

agro-commodity

trading house by

the Chanana family

1978ANIL CHANANA

established

international business

1995India’s first fully integrated

and automated rice milling

factory

2006KARAN A CHANANA takes over

and initiates transformation to

a professionally managed

global business

2008Launch of the

AMIRA brand

2009Established subsidiary

in US and launched

international

marketing/distributor

office

2011Established

subsidiary in UK

2012Amira Nature

Foods Ltd.

listed on NYSE

2013 OrganicsLaunch of organic

division

2014Acquired Basmati Rice

GmbH in Germany to

strengthen distribution

network in Europe

2015100-year centennial

Distribution wins – Publix,

Shaw’s Supermarkets, Gelson’s

Markets, Safeway, Albertsons,

Harmons Grocery, Murphy’s

Markets, Whole Foods and SPD

Markets

2016Distribution wins – Cost

Plus World and MAN

Consumer (for U.A.E.)

5

Confidential

Company Overview

Overview

• A leading global manufacturer, marketer and distributor of branded packaged specialty rice and other related food products with sales

in both emerging and developed markets across five continents around the world

• The majority of sales are generated through the sale of Basmati rice, the core focus of the Company, under its flagship Amira brand and

other Company owned brands, and third-party brands

• The Company’s packaged rice product portfolio is complemented by a growing line of related products including edible oils, organic

product offerings, and its institutional business which consists of opportunistic sales of agricultural products

• Vertically integrated business model with a global distribution platform, reaching out to a diverse base of customers

• 100+ year legacy as a family-owned and operated business which Amira has transformed into a professionally-managed, globally-

focused packaged food company with a leading position in the high growth Basmati rice category

• Chairman and CEO, Karan A. Chanana retains a large equity stake (c.75.3% of the business)(1) and the family has continued to make

investments ($13.04 million convertible notes in FY 2016(2) and $3 million in common stock in FY 2017(2)) since IPO

• Headquartered in Dubai, UAE, Amira has offices in India, Germany, the United States and the UK, with nearly 250 employees worldwide

Source: Public company filings.

1. Includes 3.5 million shares held in a family trust.

2. Amira’s Financial Year end is the 31st March

FY 2016 Sales by Brand

Amira

Branded

44%

Third

Party

Branded

46%

Institutional

10%

$542.6 million LTM Sales at September 30, 2016

FY 2016 Sales by Region

EMEA

53%India

44%

North

America

2%

Asia

Pacific

1%

FY 2016 Sales by Product

Basmati

Rice

66%

Specialty

Rice

20%

Other

14%

6

Confidential

A Closer Look at Amira’s Broad Product Portfolio

Rice

Products

Premium Basmati Rice Value Basmati Rice Other Specialty Rice

Brand/

Product

Lines

• Pure Basmati Rice

• Extra Long Grain Basmati Rice

• Indian Basmati Rice

• Brown Basmati Rice

• Traditional Basmati Rice

• Smoked Basmati Rice

• Daily Fresh Basmati Rice

• Goodlength Day to Day

Basmati Rice

• Everyday Basmati Rice

• Goodlength Broken

Basmati Products

• Parboiled Basmati Products

• Banquet Rice

• Thai Jasmine Rice

• Sharbati Aromatic Long

Grain Rice

• Kheer Rice

• Khichdi Rice

• Sona Masoori Rice

Product

Features

• Consists of the finest grains of

aromatic Basmati

• Aged for as much as

12+ months

• More than doubles in size

when cooked

• Rich taste and fragrant aroma

• Consist of different types of

high-quality rice such as a mix

of Basmati rice varieties or a

mix of broken rice

• Value alternative commonly

used as an “everyday” Basmati

and by restaurants or catering

companies

• Thai Jasmine: sourced from

Thailand and has a fragrant

aroma and chewy texture

• Sharbati Aromatic Long Grain:

an everyday rice for daily

consumption; often purchased

by foodservice customers

• Kheer: formulated for

rice pudding

• Khichdi: formulated for Indian

and South Asian comfort food;

also used as infant and

toddler food

• Sona Masoori: aromatic and

light grain white rice

Branded � � �

Third Party

Branded� � �

Opportunistic sale of agricultural products to

large international and regional trading firms

Wheat Barley Legumes

Maize Sugar Soybean Meal

Onions Potatoes Millet

Institutional Offerings

Other Product Adjacencies

Edible oils

Broad product portfolio with more than 300 SKUs globally

Organic Products

7

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Rice Procured “Early-Stage”Rice Procured “Early-Stage”

ProcessingProcessing

Dynamic and Flexible Procurement Strategy with Significant Barriers for New Participants

ProcurementProcurement

� Amira purchases paddy (rice) in an unfinished state from a large network

of procurement agents and local Indian farmers (typically between

September and March)

� The farmers bring their paddy to markets called “Mandi,” where they sell

at a set price to buyers from millers, to brokers, to companies like Amira

� The markets function as a price setting process run by the local

governments, who set the market-wide prices at which Amira ends up

purchasing paddy

1 Rice Procured “Mid- and Late-Stage”Rice Procured “Mid- and Late-Stage”

� Amira buys rice from brokers or other third party millers at the mid-late

stage (semi-finished) of the processing cycle

� While this rice is more expensive than early stage rice upon Amira’s initial

purchase, it has a lower in-house processing cost and storage requirement

� Average drying/warehousing time for mid-stage rice can be as much as

four to six months or more

� Fully processed rice may also be purchased from third-party mills for

immediate re-sale (Amira can use its facilities for packaging or rely on third

parties)

� Amira sources from third party providers both inside and outside of India

Amira Distribution Center, Mumbai

2

� Amira then selects the highest quality paddy available and brings it back to

its factory to mill, separate, remove impurities, and package into ready-to-

sell rice

� Leverages proprietary technology for the quality-testing of

purchased paddy

� Once the early-stage rice has been processed by Amira, it is then dried and

aged for as much as 12 months or more in warehouses before it is ready

for wholesale distribution

Basmati rice is only grown in the northern region of the Indian sub-continent in the foothills of the Himalayas

3

8

Confidential

Amira Has Continued to Invest in Its Important India Home Geography

15 distribution centers

today, up from 1 at IPO• Establishment of 15 Company managed distribution

centers in India provides Amira with greater control

over its expansion efforts in its important home

geography

� Expected to drive deeper and broader

market penetration

� Expected to generate higher service levels of fill

rates, inventory turnover and replenishment

• Amira is one of a handful of large relevant players in

the domestic India market, which collectively controls

approximately less than 30% of the market

� Represents a meaningful opportunity to

consolidate the market over time Amira Distribution Center, Mumbai, India

Amira Factory, New Delhi, IndiaAmira Manufacturing Facility, New Delhi, IndiaAmira EmployeesAmira Billboard, New Delhi Airport

Zirakpur (Punjab)

Punjab

Haryana

Gurgaon

Jaipur

Indore

Ahmedabad

Mumbai

Bangalore

Himachal

Pradesh

Uttarakhand

Delhi

Surajpur (Uttar Pradesh)

Lucknow

Kolkata

Ranchi

Hyderabad

Vijayawada

Chennai

RajasthanUttar

Pradesh

Strong GDP Growth and an Emerging Middle Class Expected to Continue Acceleration of Trade-up to

Branded Premium Packaged Specialty Rice Products

9

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KEY HIGHLIGHTS

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Key Highlights

Large Staple Consumer

Category with Highly

Supportive Industry and

Sub Category

Fundamentals

1

A Market Leader with

Differentiated Business

Model

2

Globally Diversified with

Wide Customer Base and

Broad Product Portfolio

3

Highly Experienced and

Successful Management

Team

6

Strong Financial Track

Record with Stable

Margins

5

Vertically Integrated,

“State-of-the-art” Supply

Chain and Operations

4

11

Confidential

Asia Pacific

59.3%

Middle

East and

Africa

15.6%

Latin

America

12.3%

North

America

5.5%

Western

Europe

5.0%

Eastern

Europe

1.8%

Australasia

0.4%

Other

Brands

87.3%

1. Rice is a $275bn Global Staple Category with Favourable Market Conditions

Large Industry with Steady Growth

406 412 418 425436 435

443456

466476 479 475

483 490 497504

512

250

325

400

475

550

20

05

20

06

20

07

20

08

20

09

20

10

20

11

20

12

20

13

20

14

20

15

20

16

20

17

20

18

20

19

20

20

20

21

Me

tric

to

nn

es

(mm

)

Note: Represent modern trade channels only.

1. $64 billion size of segment reported by Euromonitor refers only to channels tracked by the data provider and results in underestimating the overall market size

2. Percentages represent global market share in packaged rice by value

3. Euromonitor as of January 2017 – represents global market share in 2016 packaged rice by value

4. Jefferies report dated 21 September 2016

5. Business Monitor International research, as of Jan 2017

6. Horizon Research report dated 25 July 2012

• Rice is the primary staple for >50% of the world’s population and

provides >20% of the global caloric intake(4)

� Represents 30% of caloric consumption in Asia(4)

• Defensive and non-cyclical with steady growth

• Improves with age and has an extremely long shelf life (up to 5+

years) if stored properly

• Global rice consumption is growing, estimated to reach c.483 million

metric tonnes in 2017(5)

• The global rice market is estimated at c.$275bn(6) and has grown at

c. 2% volume CAGR over the 2010 – 2015 period

Packaged Rice Industry Dynamics (1) (2)

Top Ten Brands (2)

12.7%

• Highly diversified market sub-segments driven by factors such as

varied taste and preferences, rice varieties / quality and income

levels across the world

Source: Business Monitor International research, as of Jan 2017

Packaged Rice Industry Brand Ownership(3)

Packaged Rice Industry Consumption by Geographic Region(3)

• Highly fragmented industry, limited concentration of brand

ownership on global and regional / country basis

Global Rice Consumption

12

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1.01.2

1.6

2.0

2.4

3.23.5

3.8 3.74.0

0.0

1.5

3.0

4.5

20

07

20

08

20

09

20

10

20

11

20

12

20

13

20

14

20

15

20

16

Basmati’s Premium PricingBasmati is a Value-Add, High Growth Variant of Rice

Metr

ic tonnes (

mm

)

417 452

489 459 505

542 487

430

1,076

1,191

1,036

1,162

1,328 1,402

1,216

1,115

0

250

500

750

1,000

1,250

1,500

0

250

500

750

1,000

1,250

1,500

FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17E

($/MT)

Specialty Rice (Dom+Intl) per MT Basmati Rice (Dom+Intl) per MT

1. Basmati is a Highly Attractive Segment of the Overall Rice Category

• Amira is a global leader in Indian Basmati rice market with more

than $350 million of sales in the $6.9 billion Indian Basmati rice

market (2)

• Basmati rice is a premium, aromatic long-grain rice grown in the

northern region of the Indian sub-continent in the foothills of the

Himalayas

� Regarded as healthy (hypoallergenic and gluten free), with a

lower glycemic index than white rice

� Considered a premium food product: it improves with age and is

typically stored for as much as 12+ months or more

• Basmati market has seen steady volume growth in India and

internationally

� Of the estimated $6.9bn (2) Indian Basmati rice market, ~70% is

sold internationally and ~30% is sold in India

• Basmati’s superior quality commands a premium price

� Often 2 – 3x plus the price of other variants of rice

• Basmati pricing has recovered sharply from 2015 / 2016 trough

levels

• Fragmented supply chain, challenging for Western companies to

consistently source large quantities of Basmati rice

• Top 5 players in control of less than 30% of category

Source: Company materials, Food and Agricultural Organization report, USDA, ICRA Limited (March 2016)

1. APEDA Agri-exchange.

2. Market size from CRISIL – Indian headquartered global analytical & advisory company.

3. Business Monitor International 2016

International Volumes of India Basmati Rice(1)

India Basmati rice is a ~$6.9 billion (2) subcategory of the ~$50 billion (3) Indian rice market, of which ~70% is sold

internationally and ~30% is sold in country

(Amira Price Realization)

*$1,058

9/30/16

“Trough”

*$1,500

3/31/17

“Last

Trade”

13

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2. Amira is a Market Leader with a Differentiated Business Model

Regional PlayersGlobal Players/Brands India Specialty Rice

No Pure Play Global Rice Players

Fragmented Regional Brands

without Global Management

Teams or Perspective

Lack Sophisticated Management,

governance and Legacy Planning,

Limited Global Breadth and Reach

Amira is Uniquely Positioned to Seize the Global Specialty Rice Opportunity as a Pure Play

RiceFit

14

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3. Globally Diversified with Wide Customer Base and Broad Product Portfolio

Costco, United States

Waitrose, London

Traditional Retail, New Delhi, India

Modern Retail, New Delhi, India

Kaiser’s, GermanyWhole Foods, USA

Presence Across Five Continents(1) Diverse Customer Base

India Headquarters

& Processing Facility

Amira offices

Top 5

Customers

47%

Rest of

Customers

53%

Top 5

Customers

30%

Rest of

Customers

70%

Top Customers at IPO (2012)

Top Customers FY 2016

India Middle East US UK Germany

(1) Information obtained from the Group’s distribution channel

15

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3. Globally Diversified with Wide Customer Base and Broad Product Portfolio

Tailored Product Offering for the Targeted Consumer Segments Across

Products and Price Points

GourmetAvg Selling Px:

INR 160-190/kg

UK: £4.79/kg

PremiumAvg Selling Px: INR 110-140/kg

UK: £1.50-2.32/kg

MainstreamAvg Selling Px: INR 80-110/kg

UK: £1.20-1.62/kg

Popularly Priced ProductsAvg Selling Px: INR 50-70/kg

UK: £0.90-1.20/kg

Product Shelving Around the World

Germany

USA

India Middle East

UKCopenhagen

16

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4. Vertically Integrated, “State-of-the-art” Value Chain

• Global presence with established roots – With procurement,

processing, and distribution facilities throughout the Basmati rice

producing region

• Diversified supplier base and purchasing power – Longstanding

relationships with a large network of procurement agents and a

large number of local Indian paddy farmers, which allow Amira to

consistently source high- quality paddy at competitive prices

• Organic sourcing initiative – Developed organic sourcing initiatives

which allow Amira to source and sell organic certified products in

India, Europe and the US

• Reliability to valued

customers – Allowing

establishment and

fostering of stable

relationships across 5

continents and with many

of the world’s premier

retailers

• Global brand and value-

added offering – Focus on

providing customers with

consistently high-quality,

authentic specialty rice

• Adding value with state-of-the-art

processing capabilities – State-of-art,

fully automated and integrated

processing and milling facility with a

capacity to process c.24 metric tons

of paddy per hour

• Stability of supply – Ability to deliver

large quantities of high-quality

products globally in a timely manner,

essential to success in both the Amira

branded and third-party branded

businesses

Basmati Value Chain

Procurement of early-stage paddy Milling Separation Packaging

Procurement Processing

Retail Sector

Distribution

DistributionProduction

Scope of Amira’s operations

Procurement of early-stage paddy Milling Separation PackagingRetail Sector

Distribution

Basmati/

Non-Basmati

Rice Farms

Basmati/

Non-Basmati

Rice Farms

Pro

cure

me

nt

Str

ate

gy

Directly

Sourced

Paddy

Mid-/

Late-Stage

Rice

Storage (6-9 months)

Storage (6-9 months)

Storage (min. 3

months)

Storage (min. 3

months)

17

Confidential

$21.5

$31.0

$39.7

$52.4

$75.5

$99.9

$74.7$71.6

$201.7$255.0

$329.0

$413.7

$547.3

$700.0

$563.5$542.6

$0.0

$200.0

$400.0

$600.0

$800.0

$1,000.0

$1,200.0

FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 LTM H1 FY2017

$0.0

$20.0

$40.0

$60.0

$80.0

$100.0

$120.0

Adj. EBITDA Revenue

Source: Company filings & press releases

5. Proven Organic Financial Results

Re

ven

ue

($

mil

lio

ns)

Ad

j. EB

ITD

A ($

millio

ns)

Revenue growth

Adj. EBITDA growth

18

Historical Financial PerformanceHistorical Financial Performance

10.7% 12.1%12.1% 12.7% 13.8% 14.3% 13.3% 13.2%

Adj. EBITDA Margin

+32.3%

+44.0%

+27.9%

+32.4%

(19.5)%

(25.2)%

+25.7%

+32.1%

+29.0%

+28.1%

+26.5%

+43.9%

Confidential

6. Highly Experienced and Successful Management Team

Our Management team has transformed Amira from a local, family-owned business into a global,

professionally run company

Name Position

Years of Relevant

Experience Experience

Ke

y M

an

age

me

nt

Karan A. ChananaChairman and Chief

Executive Officer20+

Bruce WachaChief Financial Officer and

Executive Director20+

Rajesh AroraSenior Executive Director of

Finance, Amira India25+

Tobias Sterath Chief Executive Officer, Amira

Basmati Rice GmbH EUR10+

Alireza YazdiVice President, Amira I Grand

Foods Inc., USA20+

Bo

ard

Neal Cravens Independent Director 35+

Shiv Surinder Kumar Independent Director 21+

Harash Pal Sethi Independent Director 40+ Cornelius Barton & Co.

Overview of Key Management & Board

19

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HISTORICAL FINANCIALS

Confidential

Revenue Growth Performance

Delivered c.16.4% top-line CAGR over the past 7 years following our proven strategy

94.0 97.0 112.0

189.0245.9

286.7245.9

212.3

108.0158.0

217.0

255.0

301.4

413.3

317.6330.4

201.7

255.0

329.0

413.7

547.3

700.0

563.5542.6

$0

$200

$400

$600

$800

FY2

01

0

FY2

01

1

FY2

01

2

FY2

01

3

FY2

01

4

FY2

01

5

FY2

01

6

LTM

H1

20

17

India International

Note: Fiscal year ended March 31.

Revenue Performance Commentary

• Amira delivered 16.4% revenue CAGR from FY 2010 through the LTM

H1 FY 2017 period, driven by strong double digit volume growth and

benefitting from improved price plus mix trends

� Grew Amira branded sales at ~20% CAGR over the period based on

outperformance in both its domestic and international markets

through the conversion of some of its historical third party

branded customers, increased penetration of existing geographies

and an expanded geographic footprint; Double Amira branded

sales which now account for approximately 44% of total sales or

nearly half of core rice revenues

� Doubled India sales as the Company increased its customer base of

large distributors and launched 15 managed distribution centers as

part of its strategy to increase penetration and grow volumes in its

import home market

• Amira reported 11 consecutive quarters of double digit revenue,

EBITDA and net income growth from the time of its IPO through FYE

March 31st 2015

� Strong operating performance and momentum in the business led

by superior Company execution on its expansion strategy and

favorable industry trends

• FY 2016 was negatively impacted by a lower industry pricing, the

impact of FX translation on its domestic Indian business and one-off

business disruption and lack of availability of growth funding

� The Company would have expected volume growth through lower

prices in the market in the absence of the business disruption

• Return to growth during 2H FY 2017 with revenues increasing by

approximately 2% or more based on unaudited financials and full year

revenues of approximately $550 million for FY 2017

18.8%

13.3%

16.4%

FY 2010 –

LTM

H1 2017

CAGR

($m)

21

Confidential

Stable EBITDA Margins Led by High Variable Cost Model and Pass Through Nature of Business

Note: Fiscal year ended March 31.

Commentary

• Adjusted EBITDA has been stable with improved trends over the

long term period (average EBITDA margins of 13.2% from FY 2010

through LTM H1 2017)

• Amira added c.150bps of EBITDA margin in FY 2011, following its

last major factory upgrade in FY 2010 (doubled internal production

capacity from 12 MT per hour to 24 MT per hour)

• Amira benefits from a consistent variable cost model which allows

it to efficiently scale its business up or down depending on the

opportunity set

� Amira’s largest financial outlay is the purchase of paddy / rice,

c.80% of its sales are cost of materials, additional c.2% of sales

are freight, forwarding and handling

� Demonstrated ability to manage employee labor costs by

operating in low cost environment and exerting disciplined

controls over spending

• Proven ability to hold margins at long term average despite 20%

drop in revenues in FY 2016 following significant business

disruptions while simultaneously operating in a lower input cost

environment

� Rice is not a commodity, instead and most importantly the

aging of rice leads to a natural hedge for the business

• Amira has shown a high degree of earnings quality with limited

EBITDA adjustments (historically only non-cash compensation,

expenses from aborted 2015 bond process and the increased legal

spending associated with the successful defence against a Class

Action and its lawsuit against the short sellers)

• 13.2% Adjusted EBITDA margins for six months (or LTM) period

ended September 30th, 2016 was in-line with historical average

throughout its life as a public company

EBITDA Performance

Co

st of M

ate

rials n

et o

f Ch

an

ge

s in In

ven

tory o

f Finish

ed

Go

od

s1

Ma

rgin

21.5

31.0

39.7

52.4

75.5

99.9

74.771.7

85.8%

80.8% 80.1%77.3%

75.7%79.4%

80.7%

81.6%

60%

80%

100%

120%

140%

160%

180%

$0

$30

$60

$90

$120

FY2010 FY2011 FY2012 FY2013 FY2014 FY2015FY2016 LTM

H1

FY2017

(%)

10.7% 12.2% 12.1% 12.7% 13.8% 14.3% 13.3% 13.2%EBITDA

Margin

(%)

($m)

22

Confidential

Key Working Capital Items

$ in millionsFY2014 FY2015 H1 2016 FY2016 H1 2017

Inventories $255.0 $262.9 $233.7 $239.0 $244.6

% LTM sales 46.6% 37.6% 35.9% 42.4% 45.1%

Trade receivables(1) $80.9 $130.4 $168.3 $189.7 $194.7

% LTM sales 14.8% 18.6% 25.8% 33.7% 35.9%

Trade payables $41.2 $34.3 $27.7 $14.5 $16.8

% LTM sales 7.5% 4.9% 4.2% 2.6% 3.1%

Net adjusted working capital(2) $298.2 $366.2 $374.8 $420.3 $435.8

% LTM sales 54.5% 52.3% 57.5% 74.6% 80.3%

Source: Values based on publicly filed financial statements.

Note: Interim results and ratio analyses have not been audited. Net adjusted working capital is defined in Appendix for Non-IFRS measures.

1. Trade receivables balance for FY 2016 includes $185.1 million of receivables that are not past due, $2.6 million due less than 3 months, $0.6 million due less than six month, $1.4 million due less than one year and

$1.0 million due more than one year.

2. Net adjusted working capital is defined as total current assets minus: (a) total current liabilities (b) cash and cash equivalents and plus current debt

3. Net realizable value is the estimated selling price in the ordinary course of business less estimated cost of completion and selling expenses. Impairments in last 2 years are negligible, where it was $0.2m and $0.1m

as of March 31, 2016 and March 31, 2015 respectively

Commentary

• Amira’s inventories included paddy (raw materials) and rice (finished goods) and are valued at the lower of cost and net realizable value(3). Amira’s

inventory level has remained in the region of 35-45% of sales from FY2014 to H1 2017. The write down of inventories for Amira remained minimal at

less than 0.1% of the total inventory value historically

• Amira’s inventories represent a highly monetizable asset that can be sold at virtually any time in the lifecycle should Amira choose to do so

• Trade receivables as a percentage of sales increased over time in line with growth in the international space where invoices are typically settled after

longer periods. Receivables comprise of retail and institutional customers. As at H1 FY 2017, less than 0.5% is past due for more than one year.

Receivables cycle has also been temporarily extended as a result of a challenging operating environment

• Trade payables comprise mainly of semi-processed rice suppliers and paddy suppliers in addition to other expenses incurred in the normal course of

business

23

Confidential

Disciplined Cost Structure and Capital Spending Plan

Historical Capital Expenditures(1)

$5.5

$1.8

$0.9$1.2

$3.7

$2.4

$0.6

$0.0

$1.0

$2.0

$3.0

$4.0

$5.0

$6.0

FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016

($ in

mill

ion

s)

% of Sales 2.7% 0.7% 0.3% 0.3% 0.7% 0.3% 0.1%

• Historically, the company invested in only the most modern manufacturing equipment which has allowed it to benefit from low maintenance capex

� In 2010, the majority of capex relates to the doubling of Amira’s factory capacity. Amira benefitted from an increase of ~150bps EBITDA margin

following its factory expansion

� As part of its growth strategy, Amira used part of the proceeds from the IPO in 2012 to expand its milling and sorting capacity over 2014 through

to 2015

• We expect to purchase 86 acres of land in Karnal, Haryana, India through the acquisition of Amira Enterprises and to build our new rice processing

and milling facility on this land. The cost of this acquisition will be equal to $30 million, and we expect to spend an aggregate of $30 million in the

next three years to complete the construction of our new rice processing and milling facility

• Maintenance capex expected to be ~$3 million per year following the completion of its new factory

1. Capital expenditures include purchase of property, plant, and equipment and intangible assets.

24

Confidential

Credit Statistics

ANFI Leverage (Total Net Debt / LTM Adj. EBITDA)

Peer Leverage Levels (Total Net Debt / LTM Adj. EBITDA)

2.4x

1.9x1.7x

1.9x 2.0x 1.9x 1.9x 1.7x 1.6x1.9x

2.6x 2.6x

0.0x

2.0x

4.0x

Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 H1'16 H2'16 H1'17

ANFI Interest Coverage (LTM Adj. EBITDA /

Finance Costs Net of Finance Income)

2.5x2.8x

3.1x 3.0x3.3x 3.2x

3.0x3.3x

3.1x2.8x 2.9x 2.8x

0.0x

2.0x

4.0x

Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 H1'16 H2'16 H1'17

3.2x3.0x

2.6x

0.0x

2.0x

4.0x

Mid/Small Cap Food Large Cap Food Amira

• $204.3 million of total debt at September 30, 2016 and

September 30, 2016 LTM Adj. EBITDA of $71.7 million

• Total Debt to Adj. EBITDA ratio of 2.9x at September 30, 2016

• Net Debt to LTM Adj. EBITDA ratio of 2.6x at September 30,

2016

• LTM Adj. EBITDA to Finance Cost (net of Finance Income) ratio of

2.8x at September 30, 2016

Source: Derived from public Company financial statements and Capital IQ as of February 24, 2016.

Note: ANFI values based on publicly filed financial statements; preliminary and Interim results and ratios have not been audited.. Large Cap companies include Campbell’s, ConAgra, General Mills, Kellogg, Kraft,

Mondelez, PepsiCo, Mead Johnson, JM Smucker, McCormick.

Mid/Small Cap companies include Pinnacle, Treehouse, Snyder’s-Lance, B&G Foods, Flowers Foods, Post, Hain Celestial, WhiteWave, SodaStream, J&J Snack, Premier Foods, AdvancePierre, Nomad Foods, Monster

Beverage, Lamb Weston, Blue Buffalo, Hostess and Herbalife.

Commentary

25

Confidential

CONCLUSION

Confidential

• Global players with basmati representing only a small division of sales, hence lacking focus towards the category

• Indian players primarily dependent on home markets (and one other international market) and lacking appropriate back-end infrastructure

• Amira has strong and growing presence across 5 continents with established distribution routes throughout emerging and international markets

• Broad and flexible product offering that can be tailored to target all value and price points

• Diversified blend of leading retailers (Bharti, Publix, Costco, Whole Foods, etc) and institutional, 3rd Party Branded and distribution partners underpinned by strong relationships

• Significant decline of revenue concentration since IPO in 2012 (Top 5: 47% to 30% )

• Experienced management team has transformed Amira from a local, family-owned business into a global, professionally run company

• Combined total of ~90 years of management experience with diverse backgrounds in the global rice industry

• Track record delivering high growth alongside disciplined cost structure and capital spend

• A large, staple category with steady growth and a very long shelf life (5+ years for packed product)

• Highly fragmented industry with no clear leaders, characterised by high barriers to entry and growth (procurement, WC need, product know-how, geographic indication, brand, visibility on costs)

• Basmati is a highly attractive premium sub-segment of the rice market catering to a wealthier demographic enabling pricing premium, benefitting from growth of middle classes in EM countries and a largely under-penetrated international market

• Revenue CAGR of 16.4% and Adjusted EBITDA CAGR of 20.3% between FY 2010 and LTM H1 FY 2017

• Margin stability ensured through complete visibility on costs before pricing considerations and currency hedging to mitigate adverse FX risk—relative margin stability in the recent challenging basmati pricing environment and short-term external issues

• Poised for a return to growth

• Dynamic and flexible procurement strategy (supported by a large network of procurement agents throughout the Basmati rice producing region) from a diversified supplier base with procurement at competitive prices combined with lower in-house processing and storage costs

• State-of-the-art, fully automated processing and milling capabilities

• Customer relationships strengthened through the reliable and timely delivery of large quantities of high-quality products to customers

Staple Consumer Category

with Highly Supportive

Industry Fundamentals

1

A Market Leader with

Differentiated Business

Model

2

Globally Diversified with

Wide Customer Base and

Broad Product Portfolio

3

Highly Experienced and

Successful Management

Team

6

Strong Financial Track

Record with Stable

Margins

5

Vertically Integrated,

“State-of-the-art” Supply

Chain and Operations

4

Conclusion

Amira Key Highlights

27