Atlantic Grupa Company of Added Value

1. Atlantic GrupaCompany of Added Value Belgrade, May 2009

2. CONTENT • General overview of Atlantic Grupa • Overview of the FY08 financial figures • FY09 Guidance • Cedevita GO!

3. VERTICALLY INTEGRATED COMPANY IN CONSUMER HEALTHCARE BUSINESS Key brands: • The leading European company in the sports nutrition MULTIPOWER • Leader in the vitamin instant drinks in the SEE region CEDEVITA • Producer of the No1 Croatian brands in the VMS and the OTC DIETPHARM • The largest private pharmacy chain in Croatia FARMACIA • The leading FMCG distributer in the SEE region Distinguished International Brands (Ferrero, Wigley, Duracell, Johnson & Johnson)

4. VERTICALLY INTEGRATED COMPANY IN THE CONSUMER HEALTHCARE BUSINESS FMCG DISTRIBUTION CONSUMER HEALTHCARE Distribution Division Sports and Functional Food Division Consumer Health Care Division Pharma Division VMS OTC Pharmacy chain 14% of sales Own brands Principal brands 38% of sales Vitamin drinks and teas Cosmetics and personal care 24% of sales Sports and functional food 24% of sales SYNERGIES

5. DEVELOPMENT CYCLE

6. GEOGRAPHICAL PRESENCES – Companies and Representative Offices across Europe • Presence on • 30 markets

7. SALES GROWTH 1993-2008

8. SHAREHOLDER STRUCTURE • Stable ownership structure

9. ATLANTIC GRUPA AND THE CAPITAL MARKETS • Stable ownership structure • All domestic pension funds among top 10 shareholders • East Capital - the leading asset manager specialising in Eastern Europe • Road show in 2008 in the US • East Capital award for the Discovery of the Year in 2008 • Pace of the ATGR-R-A share decline slower than the drop pace in the local benchmark Crobex

10. OVERVIEW OF THE FY08 FINANCIAL FIGURES • Strong business results • In line with the management guidance • Double-digit growth rates: • Sales +20% • EBITDA +28% • EBIT +36% • Net profit +48% • Acquisition of pharmacies contributed to the top-line growth with +13% - HRK221m • Strong organic growth: • Sales +6% • EBIT +19%

11. SALES PROFILE

12. PROFITABILITY EBITDA Organic growth • EBIT + 18.5% • EBITDA + 14.2% • Net profit + 23.7% • Strong focus and commitment to: • Cost optimisation • Business process improvements • Exploring synergies among divisions NET PROFIT EBIT

13. DISTRIBUTION DIVISION • The leading regional distributer of FMCGs with top global and regional brands in their categories 38% of sales Sales growth drivers • New distribution deals • focus on diversification of distribution portfolio • Growth across all distribution channels • retail • HoReCa • Extensive know-how • key account management • category management • trade marketing Profitability growth drivers • Economies of scale • lower marginal costs in distribution • Developed network of distribution centres in the SEE • Bargaining power • Exploring brand synergies

14. CONSUMER HEALTHCARE DIVISION • Integrates R&D, manufacturing, packaging, marketing and sales of: • Cedevita vitamin instant drinks → No1 producer in the SEE region • Personal care products: Plidenta toothpaste, Rosal lip balm 24% of sales Growth drivers • Strength of the Cedevita brand • Atlantic’s best selling brand • New distribution channel – HoReCa (hotels, restaurants, cafes) • Markets with high consumption potential: Serbia, Slovenia • Cedevita entering new distribution channel • Consumption on the GO → Cedevita GO!

15. SPORTS AND FUNCTIONAL FOOD DIVISION • Integrates R&D, manufacturing, packaging, marketing • Key brand: Multipower for sports and functional nutrition 24% of sales Growth drivers • Strength of the Multipower brand • Atlantic’s second best selling brand • The leading market position in Germany, Norway, Sweden, Croatia and Serbia • Markets with the highest growth: Russia, Sweden, Spain • New trends toward healthier lifestyle • Successfully completed restructuring • the highest EBIT growth among divisions

16. Dietpharm VMS and OTC 22% 1 Rang in category Market share in Croatia 32 Pharmacies and 5 specialized stores 5.5% PHARMA DIVISION • R&D, manufacturing, packaging, marketing and sales of VMS and OTC • Key brand in the VMS and OTC - Dietpharm • The largest private pharmacy chain in Croatia - Atlantic Farmacia 14% of sales Growth drivers • Acquisition of pharmacies/launch of specialised stores • new distribution channel for the Group • synergies across the Group’s distribution portfolio • Strategic focus on increasing participation of non-prescription drugs • New product launches in the VMS and the OTC segment • Pharmacy business – margin-accretive for Atlantic

17. KEY PERFORMANCE INDICATORS

18. FY09 GUIDANCE

19. FY09 GUIDANCE • Even though Atlantic Grupa operates in stable industry, the management is well aware of challenges created by the economic and financing environments • Strict focus on: (i) Liquidity maintenance • (ii) Cost management • (iii) Business processes improvements • (iii) Implementation of new projects

20. FY09 GUIDANCE • New programs set to create opportunities even in challenging economic times: • Consumer Healthcare division • Launch of Cedevita GO! – Cedevita in the new distribution channel • Distribution division • New distribution agreements signed at the end of 2008/beginning of 2009: • Distribution of Karolina products – estimated annual turnover of HRK125m • Distribution of the Ferrero program in Slovenia – estimated annual turnover of EUR16m • Nestle’s NESCAFE assortment in the HoReCa channel – estimated annual turnover ofHRK15m

21. FY09 GUIDANCE • New programs set to create opportunities even in challenging economic times: • Pharma division • 5 new pharmacies from the previously acquired licenses • 1 specialised store within the scope of strategic cooperation with Agrokor • Sports and Functional Food division • Redesign of Multipower • Regulatory approvals for the Multipower product line in Russia • Launching new ENDURANCE product line for cycling and jogging • Taking Multipower outside of gyms and fitness centres

22. FY09 GUIDANCE • No refinancing requirements, with only minor portion maturing in 2009 • Favourable gearing ratio of 29.1% in FY08 • Screening potential acquisition targets that would secure value-creative IRR • Atlantic Grupa has substantial know-how and experience in due diligence and acquisition activities • EUR20m from DEG at disposal • Targeting: (i) Pharmacies in Croatia and the region • (ii) Companies, brands and market shares in the food supplements segment in the EU market (CEE, Germany, Scandinavia) • (iii) Companies, brands and market shares in the sports nutrition in the EU market

23. Cedevita BRAND Cedevita has the strongest household presenceand is the second favourite Soft drink brand in Croatia. Favourite* Volume in 2007 brand (%) (In MM liters) Have in* household (%) Jamnica Coca-ColaTM Jana Cedevita 8 178 20 92 3 61 13 55 Source: Canadean 2007 industry report; Centum istrazivanja: Croatia AFB Study Ferbuary 2009, *Total sample, Open end question

24. Cedevita GO! • New distribution channel for Cedevita – consumption on the go • Cedevita covers all consumption channels • Exploring synergies potential among divisions: • R&D, production and packaging integrated in the Consumer Healthcare division • Own distribution infrastructure • Synergies opportunities in the Sports and Functional Food division’s portfolio • Development project worth of HRK75m • Payback period of 5-6 years • The value-creating IRR • Region-wise distribution (Croatia, Serbia, Slovenia, Macedonia, BiH) • Favourable impact on the Group’s profit margins

25. Contacts • Lada Tedeschi Fiorio, Vice President for the Business Development • lada.tedeschi.fiorio@atlantic.hr • Zoran Stankovic, CFO • zoran.stankovic@atlantic.hr • Maja Barac, Head of Investor Relations • maja.barac@atlantic.hr • +385 1 24 13 908

26. Q & A Thank you for your attention!