3Q2014 FinancialResultsPESQUERA EXALMAR S.A.A.

Corporate Presentation

3Q2016

Fishing Industry

Peru: Peruvian Sea

3

Convergence of “Humboldt” and “El Niño” currents.Length of the coast with more than 3,000 km.

Peru: unique geographic aspects, biodiversity of the Peruvian sea with plenty of marine resources.

El Niño Current (hot waters)

North-Center area

South area

HumboldtCurrent (coldwaters)

Unique geographic aspects:

Peru: Peruvian Anchovy

4

Peruvian anchovy has signi�cant advantages over other species.

Scien�fic name:

Engraulis ringens.

Not a migratory

fish.

Only authorized resource for

fishmeal and fish oil.

Close presence to

the coast.

Extensive shoals.

Short development

and reproduc�on

cycle.

High volumes of biomass and landings for Indirect Human Consumption.

Source: INEI.

Thousand MT

5

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

+6 %

2001 2002 200319991998 2000 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Peru: Biomass and Landings

Average biomass (thousand MT)1998- 2008: 8,354 2009-2014: 8,837

Landings Biomass of anchovy Average biomass

Use of �shmeal

5 6

Leading producer and exporter of �shmeal and �sh oil.

Peru: Leading Producer & Exporter

World fishmeal production (1) World fishmeal exports (1)

Perú

China

Thailand

Chile

Others

51%

21%

10%

9%

44%35%

9%

6%

Peru

Chile

Germany

Denmark

Others

Poultry

Swine

Aquaculture

Others

1960 1980 2015

50%

48% 50%

36%70%

22%6%

10%

(1)Average 2011-2014. The category “Others” considers 25 countries. Source: IFFO.

9% 6%

Limited supply and increasing demand has led to a gradual increase in fishmeal and fish oil prices.

Peru- Leading Producer & Exporter

7

Fishmeal and Fish Oil average prices

US$ / MT2,500

2,000

1,500

1,000

500

02001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Fishmeal (Superprime)

Fish Oil

Fishmeal (Standard)

Price depends on annual volume of anchovy �shing quota and quality of �shmeal.

Increase of �shmeal prices due to increasing demand, �at supply and low grade of substitution.

Increase of �sh oil prices due to high content of Omega 3.

Source: IFFO.

Salmon feed formula evolution

World �sh supply

Million MT

Fishmeal and�sh oil

Plant ingredients

Novel ingredients

Others

Wild catchAquaculture

1990´s Today Future?

12%

69%

31%

53% 69%

6%

16%

New strategic role of fishmeal and fish oil.

Peru- Leading Producer & Exporter

Strategic ingredient increasing appetite for �sh and improving health.

Expectation is that the inclusion in the formula could represent 10% in the future.

Bene�ts that make it irreplaceable. Soy bean meal and vegetable oil are no longer true substitute products.

Advantages for peruvian �shing companies: increase of the value of quotas and upward trend in prices.

Market rationalization: strategic role in the future formula. Could be used for critical stages of the life cycle or when performance requires.

19%

10%

10%11%

200

150

100

50

01981 1984 1987 1990 1993 1996 1999 2002 2005 2008 2011 2014

+ 1,308%

+ 33%

5 8Source: Rabobank,FAO

Peru- Individual Fishing Quotas

5 9

ITQ leads the industry to focus on quality and e�cient usage of �eet and plants.

Before - Global Quota System (”Olympic Race”): Individual quota assigned by vessel.

Overall �eet reduction (1,200 to 500). Lower �xed costs. Extension of the �shing season. E�ciency and better quality. Better planning of production and diversi�cation.

Since 2009- ITQ System:

Competition between participants.Focus on increasing speed.Ine�cient operations and low quality.Environmental contamination.Short �shing season.

227200

175147

10548 47 49

179

128174 161

157 141 159

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Fishing days ITQ

Olympicrace

Source: PRODUCE.

Pesquera Exalmar S.A.A.

10

1992 - 1997 1997 - 2000 2000 - 2008 2009 2010

Revenues1998:US$ 19.5 MM

Revenues 2008:US$ 117 MM

Revenues 2009:US$ 128 MM

Revenues 2010:US$ 183 MM

Investments: Plants and Vessels ITQ system IPO and Quota

AcquisitionPhenomenon

El NiñoStrategic Financial

Decisions

Acquisition of plants:1992: Casma.1995: Tambo de Mora.

New vessels.

New plants:1997: Huacho.1999: Chicama.

Russian and Asian crisis and over production of soy.

2004:Issuance of short term notes.

2007:Private Equity (22.7%).

2008:Syndicated loan (US$ 80 MM).

Fix costs reduction:14 vessels the �rst year.

Direct Human Consumption (DHC)investments.

IPO US$ 100 MM.

Acquisition of additional quotas reaching6.45% North Center and 4.34% South.

Strengthen DHC.

RSW system to 6 vessels.

2011 - 2013

Revenues 2012:US$ 217 MM

Revenues 2014:US$ 221 MM

Direct Human Consumption

2014 - 2016

PhenomenonEl Niño

2011:Syndicated loanUS$ 140 MM.

2012:DHC Paita Plant.

2013:Bonds US$ 200 MM.

IHC:Proven ability to manage seasonwithout quota.

Lower quota and e�ective catch.

DHC:Tambo de Mora Plant.

Lower availability of species.

-

-

-

-

Pesquera Exalmar S.A.A.

11

Paita

Chicama

Chimbote

Huacho

Chicama PortSalaverry Port

Chimbote Port Supe Port

Huacho Port

Callao Callao Port

Tambo de MoraPisco Port

North - CenterSouth

FROZEN FISH PLANT 108

10

100

90

84

50

575

100

FISHMEAL PLANT

FISHMEAL PLANT

FISHMEAL PLANT

FISHMEAL PLANT

FISHMEAL PLANT

FISHMEAL PLANT

FROZEN FISH PLANT

DISCHARGE FISH

MT/ Day

MT/ Day

MT/ Hour

MT/ Hour

MT/ Hour

MT/ Hour

MT/ Hour

MT/ Hour

More than 35 years in the industry.

Plants strategically located: 6 processing plants, 2 freezing plants and 1 unloading line.

Diversi�cation in Direct Human Consumption (DHC).

22 vessels in operation with 7,730 m3 storage capacity and 6 with Refrigerated Sea Water “RSW” (2,600 m3) also used for DHC.

Plants capacity:434 MT/ hour for IHC and 683 MT/ day for DHC.

A clear vision for a sustainable growth.

Indirect Human Consumption

12

FISHMEAL:

Contains between 65% and 70% of high quality protein, rich in Omega 3.

FISH OIL:

Growing awareness of the health bene�ts of a diet with Omega 3 and Omega 6.

Strategic component Health benefits EPA and DHAAdvantages of its utilization

Essential in the formula for aquaculture, optimizing development of �sh.

Bene�ts for cardiovascular and immune systems, as well as brain functions.

Animal welfare and productivity, immunity, lower mortality and severity of in�ammatory diseases.

Energy and protein source with high content of essential aminoacids.

North - Center Quota % of Total Processed

Exalmar: fourth largest producer of fishmeal and fish oil.

Indirect Human Consumption

5 13

Company 1st season 2016 Company 1st season 20162nd season 2015

The ability to buy third party catch allows an increase of the share of production.

Strong business relationship with independent vessel owners: (i) Providing �nancial and operational advisory, (ii) O�ering onshore and o�shore �shing logistical support, (iii) Structuring tailor - made anchovy purchase agreements.

1

2

3

4

5

6

8

1

2

3

4

5

6

8

16.9%

14.2%

8.5%

6.8%

6.7%

6.7%

40.2%

23.0%

21.6%

11.9%

12.7%

11.0%

10.2%

9.6%

27.2%

20.0%

12.1%

11.1%

10.6%

8.8%

10.3%

Source: PRODUCE. Source: PRODUCE.

Other Other

North-Center Quota

Thousand MT2nd season

20141st season

2015Total

As at December 2015

2nd season2015

1st season2016

Total

As at December 2016

1,800

914

50.8%

45.8%

11.1%

26/06 - 27/07

1,110

1,084

97.6%

100.0%

12.7%

17/11 - 31/01

2,910

1,998

68.6%

66.4%

12.1%

Global Quota

E�ective catch

E�ective catch/Quota

Exalmar’s e�ective catch

Exalmar’s participation

Season

2,580

2,508

97.2%

100.0%

12.9%

09/04 - 31/07

2,580

2,508

97.2%

100.0%

12.9%

1114

Financial Statements 2015

The e�ective catch is 2,508

thousand MT.

Financial Statements 2016

The e�ective catch is 1,998

thousand MT.

-20%

(2) Data as at 3Q16(1) Data as at 4Q16(MT).

Indirect Human Consumption

15

Fishmeal exports (1)

Historical processing (North - Center)Thousand MT

Fish oil exports (1)

China

Germany

Chile

Indonesia

Others

6%

67%

6% Denmark

Chile

Belgium

Canada

Others

Own catch

Third parties

2009 2010 2011 2012 2013 2014 2015 2016(2)

55%

45%

523

364

622

397466

264

418

14657%

43%

59%

41%

54%46%

55%

45%

61%

39%

55%

45%

54%

46%

7%

50%

6%6%

20%

17%15%

6%

Direct Human ConsumptionA clear vision for a management based on our ability to adapt and innovate.

Mahi Mahi

Mackerel Jack Mackerel

Jack Mackerel

Giant Squid

Scallops Seafood mix

Development of new products.

Diversi�cation with added value.

Extension of relationship with independent �shermen.

16

3

Direct Human Consumption

Exports to 16 countries worldwide.

17

1.Canada

2.United States

3.Mexico 4.Antilles

5.Guatemala 6.Peru

7.Brazil

SQUIDGIANT SQUIDANCHOVYMAHI MAHISILVERSMELTS

MAHI MAHIGIANT SQUID

SCALLOPSGIANT SQUIDSWORDFISH

ANCHOVYGIANT SQUIDSILVERSMELT

MACKERELGIANT SQUIDSQUID

SQUIDGIANT SQUID

JACK MACKEREL

MAHI MAHI

GIANT SQUID

GIANT SQUIDGIANT SQUID GIANT SQUID GIANT SQUID

GIANT SQUID

GIANT SQUID

GIANT SQUID

9.France10.Portugal12.Spain 11.Italy

8.Nigeria

16.Russia 15.China 14.Japan 13.Thailand

19

5 13

1210 111415

16

6

8

4

7

2

SCALLOPSSEAFOOD MIXTUREGIANT SQUID BREADED BURGERGIANT SQUID BURGERGIANT SQUID NUGGETS

SILVERSMELTSSWORDFISH

Tambo de Mora Plant Production

Tambo de Mora Plant

Thousand MT

Mackerel and Jack Mackerel

2011

Total

Global Quota

E�ective catch

Exalmar’s catch

Exalmar’s participation

240

233.7

9.3

4.0%

2012

160

112.3

6.8

6.0%

2013

106

60.3

3.9

6.5%

2014

152

89.7

7.8

8.7%

2016(1)

207

74.3

9.1

12.3%

2015

140

1.1

0.1

12.3%

MT

As at 3T15 As at 3T16As at 3Q15 As at 3Q16

117%

18

24%

67%

28%

73%12,699

5,857

Mackerel

Bonito

Giant Squid

Others

(1) Data as at 3Q16. The e�ective catch of 2016 corresponds to mackerel entirely.

Vision and strategic goals

Over 40 years growing, with a clear vision for a sustainable growth.

A clear vision for…

19

Strategic goals

a commitment to the preservation of

marine resources.

a management based on our ability to adapt and

innovate.

a transparent communication with

our stakeholders.

and committed to the development of human talent.

To be recognized by our stakeholders as a sustainable company, supplier of the best products with high protein value.

Indirect Human Consumption (IHC): consolidation with best standards of

quality and e�ciency.

Direct Human Consumption (DHC): develop of products with added value

and access to new markets.

Financial Performance

17

P&L Composition

21

MM US$ 2014

Revenues

Gross Pro�t

Operating Income

Pre-Tax Income

Net Income

EBITDA

Gross Margin

Operating Margin

Net Income Margin

EBITDA Margin

156.2

34.6

17.9

-6.7

1.3

38.2

 

22%

11%

1%

24%

220.9

56.3

37.4

18.1

14.3

57.0

 

25%

17%

6%

26%

2015 IHC

17.6

-6.7

-11.6

-13.4

-13.4

-8.9

 

-38%

-66%

-76%

-51%

113.8

30.4

22.5

7.4

11.3

34.8

 

27%

20%

10%

31%

DHC

131.4

23.7

10.9

-6.1

-2.1

25.9

 

18%

8%

-2%

20%

TOTAL

As at 3Q15

IHC

11.7

-4.9

-8.1

-10.2

-10.2

-5.2

 

-42%

-69%

-87%

-44%

109.5

23.5

14.4

3.5

2.8

26.1

21%

13%

3%

24%

DHC

121.3

18.6

6.3

-6.7

-7.4

21.0

 

15%

5%

-6%

17%

TOTAL

As at 3Q16

Revenues Composition

Total revenues decreased (-8%), due to lower e�ective catch on the �rst season 2016.

22

Fishmeal Fish Oil DHC

4%

-34%9995

1016 1218

MM US$

Fishmeal

Fish Oil

DHC

Others

As at 3Q15 As at 3Q16

72%

12%

14%

82%

8%10%

As at 3Q15

As at 3Q16

-34%

IHC Revenues

23

As at 3Q15

Fish Oil Revenues

As at 3Q16As at 3Q15

Fishmeal Revenues

MT

US$/ MT

Thousand US$

56,736

1,676

95,102

62,767

1,578

99,020

MT

US$/ MT

Thousand US$

9,464

1,671

15,810

4,808

2,169

10,429

As at 3Q16

Average Sale Price and E�ective Catch

1,624 1,563 1,5781,822 2,358 2,168

2.51

1.08 0.91

1st Season of 2015 2nd Season of 2015 1st Season of 20160

1,500

3,000

4,500

0.0

1.4

0.7

2.1

2.8

US$/ MT Million MT

Fishmeal Fish Oil E�ective catch

24

Stocks & Sales

Thousand MT

Fishmeal

As at 3Q15 As at 3Q16 Var.

Begininng stock

Production

Sales

Reprocessing

Ending stock

32.1

33.8

62.8

0.4

3.5

7.1

73.0

56.7

0.2

23.6

352%

11%

-85%

Thousand MT

Fish Oil

Var.

Begininng stock

Production

Sales

Reprocessing

Ending stock

0.7

9.8

9.5

0.0

1.0

2.2

4.5

4.8

0.1

2.0

214%

-49%

-96%

As at 3Q15 As at 3Q16

DHC Revenues

Frozen fish revenues (3Q15) Frozen fish revenues (3Q16)

81%

6%

8% Giant Squid

Squid

Mackerel andJack Mackerel

Others

25

Scallops

71%

8% Giant Squid

Mahi Mahi

Scallops

Others

Bonito

MM US$

As at 3Q15 As at 3Q16

-34%

17.811.7

DHC revenues decreased by 34%:Lower availability of giant squid and mahi mahi.No presence of jack mackerel and mackerel until July.

DHC revenues represented 10% of total revenues (less than 14% of previous year).

4%

18%

67%

Cost of Production

As at 3Q15 As at 3Q16 Var.

Ban days

Total Processed(1)

Own Catch(1)

Third Party(1)

Third parties purchase cost (2)

Catch Cost(2)

Cash Catch Cost(2)

Processing Cost (3)

Cash Processing Cost (3)

Ban Expenses (US$MM)(4)

159

324

167

157

248

96

88

182

158

25

202

145

79

67

287

134

110

238

182

28

27%

-55%

-53%

-58%

 

15%

39%

26%

 

31%

15%

14%

Ban &Processed

Volume

Costs

There were 202 ban days, comparing to 159 ban days of the same period of the previous year, due to the delay on the beginning of the �rst season 2016.

(1) Thousand MT. (2) US$/MT of anchovy. (3) US$/MT Fishmeal & Fish Oil.(4) For purposes of comparative analysis, the information is presented without considering the reclassi�cation of ban expenses. These are now registered as deferred assets (US$ 5.5 MM) until the beginning of the 2nd season of 2016, when they will be included to stocks values.

26

Plant Capacity Utilization32%

28%

24%

20%

16%

12%

8%

4%

0%Jan Feb Mar Apr May Jun Jul Aug Sep

Low capacity utilization during 2016, due to:Lower availability of giant squid and mahi mahi.No presence of jack mackerel and mackerel. On July we increased our utilization because of the availability of mackerel.

Continues the development of new markets with products of higher added value.

DHC Fixed Costs & Plant Capacity Utilization

Paita Tambo de Mora

DHC (MM US$)

Revenues

Variable Cost of sales

Contribution margin

Sales expenses

EBITDA

Operating Income

-5.2

-8.1

11.7

-9.3

2.4

-2.1

11.7

-9.3

2.4

-2.1

As at 3Q16

Total Fixed Costs

Non- production costs

Fixed costs of sales

Administrative expenses

-3.8

-0.9

-0.8

-5.5

-2.4

-0.2

-0.3

-2.9

-6.2

-1.1

-1.1

-8.4

Cost Deprec. Total

27

Gross pro�t (-22%):Lower beginning stocks.Lower DHC sales (-34%).

Delay on the beginning of the �rst season 2016.

28

19%

15%18%

63% 66%

19%

As at 3Q15 As at 3Q16

Gross Profit and Margins

Cost of Sales

Cost of nomproduction

Gross Pro�t

Ban Expenses

As at 3Q15 As at 3Q16

Gross Margin Operating Incone Net Income EBITDA Margin

20%17%

18%15%

-6%5%

-2%

8%

29

Company Debt

MM U$$

Net accounts receivable

Valued stocks (1)

Accounts receivable +Valued Stocks + Cash

Coverage STD

US$ 200. Maturity: 2020.

September 2016: Tender O�er Reduction to US$ 170 MM.

BONDS:

US$ 25 MM. Maturity: 2022.

Two years grace period, balloon.

NEW LONG TERM DEBT:

Net Financial Expenses

MM US$ 29%

13.1 16.9

MM US$

Indebtedness Position

Short-Term Debt (STD)

Long-Term Debt

Current Portion

Non-Current Portion

Total Debt

Cash

Net Debt

57.0

22%

205.3

2.5

202.8

78%

265.3

8.8

253.5

30

45

84

147%

16

16

39

97%

40.2

17%

201.0

2.5

198.5

83%

241.2

7.0

234.2

As at 3Q15 As at 3Q16

As at3Q15

As at 3Q16

(1) Valued to average sales prices per quarter.As at 3Q15 As at 3Q16

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016(1)

MM US$

IHC Investments:

Maintenance work on �shing nets. Environmental requirements. Fishmeal plants.

DHC Investments:

Tambo de Mora Plant. Paita Plant.

CAPEX

30

1720

13

28

44 42

178

1514

As at 3Q15 As at 3Q16

Administratives

DHC Business

IHC Vessels

IHC Plants

51%

38%

7%

54%

36%

9%

(1) Data as at 3Q16.

Others

Corporate Governance

Recognized by the Lima Stock Exchange as one of the companies with highest standards in Corporate Governance.

Independent directors and Board Committees.

Investor Relations section at website: www.exalmar.com.pe

Quarterly Reports, Press Releases, One on One meetings, Call Conferences, etc.

Investor Relations: ozuniga@exalmar.com.pe Board(2 dependent

and 5 independentmembers)

CorporateGovernanceCommittee

Nominationsand

RemunerationCommittee

FinanceCommittee

RisksCommittee

AuditCommittee

32

A clear vision for a transparent communication with our stakeholders.

Dependent Directors Independent Directors

Víctor Matta Curotto

Víctor Matta Dall’orso

María Cecilia Blume

Cristian Celis Morgan

Andrés Muñoz Ramírez

Rodrigo Sarquis Said

Martín Ramos Rizo Patrón

Shareholder’s Structure

33

71%

17%

9%3%

Foreign institutional investors

Local investors

Economic Group

Bancard International Investment

EXALMC 1 2015 2016(1)

1.01 1.19

87 105

11% -

-17% 18%

-33% 58%

Listed in the Lima Stock Exchange since 2010.

Shares: 295’536,144.

(1)Data as at December 31st, 2016.Source: Bloomberg.

Closing price (S/.)

Dividend yield

Exalmar YTD

IGBVL YTD

Market Cap (MM US$)

5,000

10,000

15,000

20,000

0.7

0.9

1.1

1.3

1.5

Dic.-15 Mar.-16 Jun.-16 Set.-16 Dic.-16

EXALMC1 (S/.) S&P/BVL GENERAL

T. (511) 441.4420W. www.exalmar.com.peD. Av. Víctor Andrés Belaúnde 214, San Isidro, Lima - Perú