1. Financial Results
March 2016

2. Disclaimer FORWARD LOOKING STATEMENTS
BOG-DNM
FORWARD LOOKING STATEMENTS
“This presentation does not contain material non-public information as defined in the Trinidad and Tobago Securities Act, The presentation may however, contain ‘forward-looking statements’. Forward-looking statements may include statements about our future business, operations, capital expenditures, capabilities and financial projections. Our forward-looking statements reflect our views and assumptions on the date of this presentation regarding future events and operating performance. They involve known and unknown risks, uncertainties and other factors, many of which may be beyond our control, that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by forward-looking statements. We do not undertake any obligation, other than as required in accordance with the laws of Trinidad and Tobago, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.”

3. Executing our Growth Strategy: Progress on Key Initiatives
BOG-DNM
The Group’s geographic diversification is demonstrating benefits
Profit contribution from overseas investment increased to 55%. (43% in 2015 and 45% in 2011)
PBT for the first half of 2016 from Barbados and the Eastern Caribbean, Jamaica and Colombia grew by 25%, 20% and 48% respectively versus prior year.
NOT EXHAUSTIVE
The Group’s HY Profits declined from 2015
PBT declined by 3%
EPS declined by 8%
The Group’s Balance Sheet remains strong
84% of debt is long term
Cash is $1.6 billion
Busines Unit and LOB Performance Varied for the HY
Financial Services, Retail and Other Investments LOBs performed very well.
Energy Services and Construction OPCOs are impacted by the current Trinidad and Tobago economic climate. Both incurred losses of $12 million and $6 million respectively.
Auto and ITC PBT declined in HY2016
One-off maintenance charge for ASU in Pt. Lisas led to a loss of $29 million.
Other key financial highlights
The Group continues to focus on cost containment through business wide financial fitness initiatives. All Business Units showed declines in operating expenses except in Financial Services/Insurance, Other Investments, ITC and the Retail LoB. Tight management of discretionary spending (travel, foreign training), greater efficiencies in working capital management and the non-recurrence of consultancy costs led to cost savings in The costs in ITC and Retail increased primarily because of  the reclassification of expenses out of cost of goods sold (COGS). The ITC BU was also impacted by costs related to the IPTV project.
The Group’s effective tax rate increased to 32%.
Our strategic investments are contributing to Growth
Methanol Plan investment : $128 million to date
Massy IPTV investment: $164 million to date

4. Results by Key Territories (2014-2016)
BOG-DNM
Trinidad & Tobago
Guyana
Barbados & Eastern Caribbean FY HY
6,028
5,719 4%
-3%
Revenue
TT$, mn
3,665
3,300
2,867
2,996
2,906 0%
1,879
1,951
821
766
1,548
430
50%
49% 7% 7%
31%
33%
Profit Before HO Costs & Tax
TT$, mn
-28%
24%
-1%
Enhanced by the depreciation of the TT$, PBT from overseas operations contributed 55% of the Profit before Head office costs, compared to 43% in March Contraction in the energy sector, general weakening of the Trinidad and Tobago economy and a one-off maintenance charge for the joint venture air separation plant in Pt. Lisas led to a decline in PBT from Trinidad and Tobago by 28%.
2014
2015
2016
2014
2015
2016
2014
2015
2016
57%
45%
11%
12%
25%
34%
Note: CAGR applies to the Half Year (HY) Mar 2015 – Mar 2016
Represents the Territory’s contribution as a percent of the Group total
xx%
xx%

5. Results by Key Territories (2014-2016)
BOG-DNM
Jamaica
Colombia FY HY
Revenue
TT$, mn 6%
-36% 5% 6% 7% 5%
Profit Before HO Costs & Tax
TT$, mn
18%
48%
2014
2015
2016
2014
2015
2016 5% 6% 2% 3%
Note: CAGR applies to the Half Year (HY) Mar 2015 – Mar 2016
Represents the Territory’s contribution as a percent of the Group total
xx%
xx%

6. Consolidated Income Statement TT$ ‘000’s For the Period Ended March 31, 2016
BOG-DNM
% Variance
Mar-16
Mar-15
Sep-15
Third party revenue
-2%
5,881,346
6,024,329
11,944,843
Operating profit after finance costs - net 3%
408,221
395,428
878,537
Share of results of associates and JV
-161%
(9,647)
15,821
40,202
PBT and rebranding costs
-3%
398,574
411,249
918,739
Rebranding costs
-72%
(886)
(515)
359
Profit before income tax
397,688
410,734
919,098
Income tax expense
 -7%
(126,880)
(119,113)
(250,784)
Effective Tax Rate
 32%
 29%
 27%
Profit for the year
-7%
270,808
291,621
668,314
Attributable To Non Controlling Interests 8%
(23,374)
(21,649)
 (29,908)
Attributable to Shareholders
-8%
247,434
269,972
638,406
Basic EPS
2.53
2.76
 6.53
As a result overall Group Half Year PBT declined by 3% to $398 million. Group Third Party Revenue declined by 2% to $5.9 billion for the same period. Earnings Per Share (EPS) through March 2016 declined by 8% from $2.78 to $2.53. Increases in the Green Fund Levy in Trinidad and Tobago, higher effective tax rates from profits from overseas and the inability to use some losses for tax relief further eroded Profit After Tax.

7. Balance Sheet Remains Strong
BOG-DNM
Mar-16
Mar-15
Sep-15
Total Assets (TT$ mn)
10,614
10,214
10,419
Net Current Assets (TT$ mn)
2,630
2,470
2,594
Total Borrowings (TT$ mn)
2,194
2,359
2,170
Total Cash (TT$ mn)
1,621
1,526
1,743
Net assets per share (TT$)
46.39
41.84
44.55
Gearing Ratio (Debt Less Cash/(Debt Less Cash + Equity)
10.7%
16.1%
8.5%
Debt to Equity
48.4%
57.7%
49.8%
Debt to Total assets
20.7%
23.1%
20.8%
Interest Coverage ratio
11.07
7.16
9.59
Current ratio
1.81
1.76
1.8
Acid test ratio
1.32
1.27
The Group’s Balance Sheet remains strong with healthy cash flow generation from operations available to continue funding its growth.

8. Consolidated Statement of Cash Flows TT$ ‘000’s For the Period Ended March 31, 2016
Mar-16
Mar-15
Sep-15
EBITDA and Other Movements
588
489
1,112
Investment in working capital
(207)
(2)
169
Cash Generated From Operating Profit
381
487
1,281
Taxation Paid
(111)
(110)
(237)
Cash Provided by Operating Activities
270
377
1,044
Cash Flows From Investing Activities
Proceeds from Sale of Assets and Hotel Properties 17 90
113
Capital Expenditure
(243)
(297)
(525)
Acquisitions, Net of Opening Cash
(7)
(26)
(20)
Cash Flows Used in Financing Activities
(177)
(253)
(497)
(Decrease)/Increase in Short Term Funds
(140)
(109)
115

9. Varied BU PBT Performance for HY 2016
BOG-DNM
% PBT Change / 2016 PBT 2%
-9%
32%
-46%
-73
-20%
-3%
80%
-2%
-26%
Auto & Industrial EquipmentAuto & Industrial EquipmentAuto & Industrial Equipment
Integrated RetailIntegrated Retail
Financial ServicesFinancial Services
Energy & Industrial GasesEnergy & Industrial GasesEnergy & Industrial Gases
ITC
Other Inv.
Subtotal
Head Office & Other AdjsHead Office & Other AdjsHead Office & Other Adjs
Total
Integrated Consumer Portfolio
Strategic Investment
Portfolio
Other

10. Automotive & Industrial Equipment
Portfolio Level Performance – Integrated Consumer Portfolio
BOG-DNM
Automotive & Industrial Equipment
Integrated Retail
Financial Services
6,574
6,109 FY HY
+2%
Revenue
TT$, mn
3,358
3,428
2,387
2,203
-4%
3,001
+22%
1,194
1,024
1,149
20%
58% 4%
Profit Before HO Costs & Tax
TT$, mn
-2%
-26%
+80%
2014
2015
2016
2014
2015
2016
2014
2015
2016
20%
38%
11%
Note: CAGR applies to the Half Year (HY) Mar 2015 – Mar 2016
Represents the Business Unit’s contribution as a percent of the Group total
xx%
xx%

11. Portfolio Level Performance – Strategic Investment Portfolio & Other Investments
BOG-DNM
Energy & Industrial Gases
Information Technology & Communications (ITC)
Other
1,484 FY HY
-30%
Revenue
TT$, mn
+1%
+4% 9% 5% 4%
Profit Before HO Costs & Tax
TT$, mn
-20%
+2%
-46%
2014
2015
2016
2014
2015
2016
2014
2015
2016
18% 3% 9%
Note: CAGR applies to the Half Year (HY) Mar 2015 – Mar 20156
Represents the Business Unit’s contribution as a percent of the Group total
xx%
xx%

12. Thank you