Introduction to Greenyard Agenda Greenyard in brief 1 2 Our - PowerPoint PPT Presentation

Introduction to Greenyard

Agenda Greenyard in brief 1 2 Our playing field 3 Strategic vision 4 E-Commerce Sustainability and innovation 5 6 Financials 2

“ to make lives healthier by helping people enjoy fruit and vegetables, at any moment, easy, fast and pleasurable, whilst fostering nature” 3

A Refocused Greenyard Fresh Frozen Prepared Horticulture Main Sourcing & sales of Production & sales of Production & sales of Production and sales of activity fresh F&V frozen F&V prepared F&V growing media Serving the top EU Serving the top EU Serving the top EU Customers retailers retailers (LF) retailers (LF) Trading ~2m tons of Production of ~450,000 Production volume Production of +3m m3 Productivity F&V tons ~320,000 THL +5.500 employees +2.000 employees +1.000 employees +800 employees Workforce Active in +20 countries Active in 7 countries Active in 2 countries Geography 32 ripening, packing & 10 production sites 3 production sites in BE 14 facilities, Production service centers & NL in Belgium and CEE +40 countries +80 countries +60 countries +60 countries Sales 4

With sales across the globe 22% 30% Sales 6% €4,2bn 8% 10% 23% Germany Netherlands Belgium UK France Other 5

And world-wide spread diversified sourcing connections A Top overseas fruit exporting countries Egypt Cote d'Ivoire Peru 2016 Chile 2017 Morocco Turkey Brazil S-Africa Colombia Equador Costa Rica B Top EU fruit exporting markets Portugal Poland 2016 Germany 2017 France Greece Italy Belgium Netherlands Spain The Fruit Farm Group Greenyard Group Strategic connections 6

Key investment highlights 1 Market leading position 2 To manage the supply chain complexity 3 Through a unique selling proposition 4 Building close relationships and partnerships 5 In a consolidating landscape 6 Promoting consumption of fruit & vegetables 7 In a sustainable way 7

Agenda Greenyard in brief 1 2 Our playing field 3 Strategic vision 4 E-Commerce Sustainability and innovation 5 6 Financials 8

Stable category with further growth outlook Consumer spending on Fruit and Vegetables – Geography dynamic, 2015-2030 (€ tn) CAGR ’15-’30 8% 4% 11% 8% 5% 8% 16% 3% €768bn 21% €441bn North America 13% 5% Latin America 14% Europe Middle East and Africa Asia & Oceania 7% 56% 46% 2015 2030 Source: Euromonitor, Oliver Wyman research and analysis 9

Consumption in F&V lagging behind Vegetable consumption (g/capita) Fruit consumption (g/capita) 52% 56% 300 250 145 110 Recommended Consumed Recommended Consumed Source: BE Voedselconsumptiepeiling 2014-15 10

With increasing consciousness on healthy eating habits Drink more water Vegetables, fruit, bread, MORE nuts, oil Fish, cheese, eggs, As little as milk, poultry possible Butter, Sugar, meat LESS junk food, soda’s 11

Supported by fundamental societal trends…  Universal association with a healthylifestyle Healthy living  Government / supermarkets / doctors promotion  Trend away from processed towards authenticity Rise of illness andobesity  Fruit and vegetables well suited for quick preparation and/or on- Convenience the-go consumption Convenience  Fresh cut, snack, seedless, easy peel, ready-to-eat, shelf life, Consumer increasinglytime pressed ripening technology, e-commerce, frozen  Consumers increasingly monitoring meat consumption  Meat reduction Environmental impact and animal welfare concerns increasing priorities  Rise of vegetarianism Supported by increased sophistication and taste of meat alternatives incl. fruit and vegetables  Diversity Versatile and core part of any meal  High availability, variety and flavour across a number of accessible formats Fun in everydaycooking  Easy to cook, portionable and long-lasting  New formats / methods of cooking being popularised (e.g. by Premium celebrity chefs)  Increasing mass availability of both traditional & exotic products Increasing trend ofnovelty  Represents a sustainable alternative vs. meat Sustainability  Lower carbon footprint  Lower use of water and land resources Supporting environmentalconcern 12

Agenda Greenyard in brief 1 2 Our playing field 3 Strategic vision 4 E-Commerce Sustainability 5 6 Financials 13

We work for the top retailers in the world 14

Unique Selling Proposition towards our customers, building partnerships Rationalise the chain Just in time delivery of Remove unnecessary parts in the chain perishable goods Manage Help us be complex lean supply chain Offer category Offer full man. assortment Support Right product at the right time Availability Increase profit / m² for customer Quality Direct link to the grower Traceability Certainty of produce 15

An approach that requires several “building blocks” Retailer USP Vertical Rationalise the chain Value 5  Higher barriers to chain Remove middle-men entry  Higher switching costs for customer Partnership Fork to Field Traceability  More derisking (e.g. Product 4 Cost plus) Certainty of produce knowledge Value chain partner Right product at the right time 3 vendor consolidation Increase profit / m² for customer Committed volumes Availability Product supplier 2 Quality Push model retailer Just in time delivery of Tendering 1 Logistics perishable goods 16

To build an integrated partnership Grower Greenyard Retailer Consumer Grower Greenyard Retailers Consumer From Fork to Field Finding global trends and Matching supply-demand Developing F&V category foodwaves Joint sourcing Sharing data Innovation Fresh and timely deliveries Customer solutions 17

With the right assets and products Via Pinguin Lutosa, H. Deprez acquires Scana Noliko, a Belgian producer of The Deprez family now has the preserved vegetables. He becomes CEO of majority at Pinguin, which PinguinLutosa, with a turnover of EUR ‘02 acquires Lutosa, a potato 750m1 ‘11 processing company A V. Deprez buys 33% of frozen A vegetable producers Pinguin, a ‘07 publicly traded company Pinguin Lutosa divests the potato processing A activities and acquires the frozen vegetable A activities of Groupe d’Aucy. It is now called Greenyard Foods. The Deprez family Greenyard acquires ‘13 increases its share to 42% mushroom specialist Lutèce A € A V P UNIVEG acquires its Dutch UNIVEG acquires P UNIVEG acquires competitor Bakker Barendrecht, Greenyard acquires Empire World Trade Alara and Katopé Merger UNIVEG, Greenyard ‘17 with a turnover of EUR 450m. ‘16 exotic specialist Mor Int. and FAI ‘18 P Foods and Peatinvest into UNIVEG acquires Seald Sweet UNIVEG doubles its turnover A Greenyard, a unique leader A ‘15 A A in fruit & vegetables V ‘12 ‘13 ‘14 P ‘11 R ‘08 R ‘07 Greenyard acquires mushroom € ‘06 P substrate producer Mykogen ‘05 and divests its logistic activities H. Deprez establishes UNIVEG P UNIVEG divests its ready-meal I in Bulgaria and herb farm in activities and logistic activities Germany ‘87 ‘96 ‘98 in Russia The farming activities of UNIVEG are A € carved out and regrouped in sister company The Fruit Farm Group ‘83 UNIVEG becomes active outside of Belgium - Following a new acquisition, of H. Deprez starts a mushroom farm Atlanta from Chiquita, UNIVEG in Belsele now reaches a turnover of EUR 3bn UNIVEG acquires the Italian company Bocchi, with a turnover A of EUR 900m A Peltracom acquires Norland A V Vertically integrated chain ‘03 Acquisition R A Retail Connections H. Deprez incorporates his potting soil activities in the Peatinvest € Disposal P Product specialism Holding - Carve-out I Infrastructure 18

Consolidation further strengthens the leading suppliers Divestments Consolidator Acquisitions Strategic agenda Extend global footprint in sales & sourcing • Consolidate EU leadership in Fresh-cut veg • Expand to international markets (North Am.) • Non-UK sites Expand in Fresh-cut fruit • Consolidate leadership in Southern Europe • Expand in exotics & Fresh-cut fruit • Complete dense footprint in Germany Fresh • Offer full basket: fruits & Fresh-cut • Vertical integration Multiple fruit farms in LatAm • Diversification in geography & products (veg) • Finding the right infrastructure, specialism and • retailer access Frozen sites Building partnerships • Expand North American footprint Long-Fresh • Develop convenience & plant-based range • Canada Consolidate EU leadership in Frozen veg • Expand to North American market & fruits • Consolidate Brittany agri-food positions • Leverage local brands • Frozen sites Diversify geographically (sales & sourcing) • Offer full basket of frozen vegetables • 19