CONTENTS: TETRA LAVAL CONTENTS 2 TETRA LAVAL IN BRIEF 4 TETRA LAVAL - 2016 IN BRIEF 5 TETRA LAVAL GROUP BOARD 8 TETRA LAVAL AROUND THE WORLD 14 Cf JP TETRA LAVAL INTERNATIONAL TETRA LAVAL INTERNATIONAL MANAGEMENT TETRA LAVAL GROUP SUPPORT FUNCTIONS TETRA LAVAL SUSTAINABLE DEVELOPMENT ADDRESSES TETRA PAK COMMENTS BY THE CEO GLOBAL LEADERSHIP TEAM STRATEGIC DIRECTIONS

MANAGEMENT TEAM STRATEGIC DIRECTIONS GROUP MANAGEMENT TEAM STRATEGIC DIRECTIONS

The Tetra Laval Group consists of three industry groups, Tetra Pak, Sidel and DeLaval, all focused on technologies for the efficient production, packaging and distribution of food. The head of each industry group has operational management responsibility for his respective industry group and reports directly to the Tetra Laval Group Board. The Group Board is responsible for the overall strategy of the Group and for controlling and supervising all of its business operations. The chairman ensures the implementation of the Group Board decision and the implementation of strategy and policy for the...

2016 – Year in brief for the Tetra Laval Group • et sales for the Tetra Laval Group N amounted to €13.8 billion. TETRA PAK • et sales for Tetra Pak amounted to N €11.4 billion. • etra Pak continued to secure growth T opportunities in areas beyond its core business, strengthening its end-to-end solutions offering and making further inroads into new food and beverage categories. Sidel strengthened its complete line offerings, combining the expertise of Sidel and Gebo Cermex • etra Pak’s Gornji Milanovac factory in Serbia T received the world’s most prestigious award for manufacturing excellence,...

TETRA LAVAL COMMENTS BY THE CHAIRMAN OF THE BOARD 2016 was a challenging year for the Tetra Laval Group. Net sales amounted to €13.8 Bn, a nominal decrease of 3.4 per cent compared to 2015. At comparable rates sales contracted by 1.4 per cent. The weakening of the Brazilian real, Mexican peso and Chinese yuan renminbi relative to the euro contributed to the lower sales. The main reason for the declining sales was that some of our larger markets didn’t develop as well as anticipated. Particularly sales of capital equipment were affected by lower demand, while technical service sales improved significantly...

operating results and cash flow due to significant cost savings. The packaging material business was impacted by slower growth in large markets, such as China, Brazil and Russia, and also saw a decline in traditional categories, such as milk and juice. Conversely, packaging material showed double-digit growth in South Asia, East Asia & Oceania. For the full year, the number of packages grew by 3.4 billion to in total 188 billion or 1.8 per cent, reflecting the shift from large family packages in markets like China to portion packages in other Asian markets. During the year Tetra Pak continued...

01. Lars Renstrom Chairman of the Board since 10 June 2016. Lars Renstrom joined the Board as non-executive director in 2013. Lars Renstrom was President and CEO of the Alfa Laval Group 2004 - 2016. He has previously held positions as President and CEO of Seco Tools, President and head of Atlas Copco’s Rock Drilling Tools division and head of Ericsson’s Telecom Cables Division. He is currently also Chairman of the Board of Assa Abloy AB. 02. Paul Conway A non-executive director since 2014. Paul Conway OBE. Former Vice Chairman of Cargill Inc and Chairman of Carval Investors Llc. Vice Chairman...

PROTECTS WHAT’S GOOD COUNTRIES SERVED Tetra Pak is the world leader in food processing and packaging solutions. For more than 60 years, we have worked with customers across the globe to help make food safe and available, everywhere. Continually building on our heritage of innovation, our deep market knowledge and our commitment to the principles of sustainable development, we deliver end-to-end solutions that create value for our customers, helping to meet the needs of hundreds of millions of consumers in more than 190 countries every day. CUSTOMER VALUE GOES BACK TO ITS ROOTS Tetra Pak was built...

COMPLETE SOLUTIONS TO FULFIL CUSTOMER NEEDS COUNTRIES SERVED The Sidel Group helps package beverage, food, home and personal care products in PET, can, glass and other materials. Comprising three strong brands - Sidel, Gebo Cermex and Novembal - we are passionate about providing complete solutions that fulfil customer needs and boost the performance of their lines, products and businesses. Delivering this level of performance requires that we continuously understand our customers' challenges and commit to meeting their unique goals. We do this by understanding the needs of their markets, production...

WE MAKE SUSTAINABLE FOOD PRODUCTION POSSIBLE COUNTRIES SERVED DeLaval is a full-service supplier to dairy farmers. The company develops, manufactures and markets equipment and complete systems for milk production and animal husbandry worldwide. Service and sales of a wide range of accessories are also key aspects of DeLaval’s operations. The company supplies highly efficient system solutions for milking, herd management, animal traffic control, feeding, cooling, manure handling, ventilation and energy recovery. SOLUTIONS DeLaval offers automatic and conventional milking systems, cooling and feeding...

TETRA PAK FROM TREE TO TABLE WITH THE COCONUT HANDBOOK Coconut beverages have become very popular in recent years, with worldwide sales of packaged coconut water alone now estimated at more than US$1 billion. The coconut’s delicate composition, however, presents many challenges for manufacturers. Tetra Pak’s new 180-page guide to coconut beverage production offers expert advice and practical information on everything from plantations and nutrition to production and distribution, covering the entire supply chain from tree to table. The Coconut Handbook draws on know-how from industry experts, including...