Tate & Lyle PLC - Trading Update

25 Jan 2005

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Tate & Lyle issues the following routine trading update following annual sales contract pricing rounds at two of its major businesses. Trading since the announcement of our interim results on 4 November 2004 has continued to go well and the outlook for the year to 31 March 2005 has not altered. Tate & Lyle Food and Industrial Ingredients Americas (formerly Staley) has substantially completed the negotiation of its calendar 2005 sales contracts. Overall in calendar 2005 in local currency, and despite higher energy costs, we expect at least to maintain sweetener total net margins at calendar 2004 levels. We anticipate achieving higher total net margins on value added food ingredients and other products. The 2005 calendar sweetener pricing round for Tate & Lyle Food and Industrial Ingredients Europe (formerly Amylum) has been competitive. After higher energy costs we expect total sweetener and starch net margins to be slightly below those achieved in calendar 2004. Demand for sucralose remains strong and our expansion projects are on track.

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About Tate & Lyle PLC:

Supported by our 165-year history of ingredient innovation, we partner with customers to provide consumers with healthier and tastier choices when they eat and drink. We are proud that millions of people around the world consume products containing our ingredients and solutions every day.

Through our leading expertise in sweetening, mouthfeel and fortiﬁcation, we develop ingredients and solutions which reduce sugar, calories and fat, add ﬁbre and protein, and provide texture and stability to food and drink in categories including beverages, dairy, bakery, snacks, soups, sauces, and dressings.

Tate & Lyle recently acquired CP Kelco, a leading provider of pectin, speciality gums and other nature-based ingredients to create a leader in mouthfeel, significantly enhancing our solutions capabilities. Following this combination, we now have more than 5,000 employees working in around 75 locations in 39 countries, serving customers in more than 120 countries. Science, Solutions, Society is our brand promise and how we will achieve our purpose of Transforming Lives through the Science of Food. By living our purpose, we believe we can successfully grow our business and have a positive impact on society. We live our purpose in three ways, by supporting healthy living, building thriving communities and caring for our planet.

Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. For the year ended 31 March 2024, and on a pro forma basis which assumes for illustrative purposes that the combination with CP Kelco took place on 1 April 2023, revenue for the enlarged Tate & Lyle Group would have been £2.25 billion. For more information, please visit www.tateandlyle.com or follow Tate & Lyle on LinkedIn, X (Twitter), Facebook or YouTube

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