#1Hn Health & Nutrition In Industrial HAWKINS Nasdaq: HWKN SOLID FOUNDATION CRITICAL PRODUCTS AND SERVICES DEMONSTRATED PERFORMANCE Wt Water Treatment Investor Presentation January 2021#2HAWKINS FORWARD-LOOKING STATEMENTS The information contained in this presentation includes "forward-looking statements" which reflect management's expectations or belief as of the date of this presentation. Hawkins, Inc. cautions that actual future results could differ materially from the forward-looking statements in this presentation. Actual results may be affected by many important factors including risks and uncertainties identified in the section captioned Risk Factors in Item 1A of Hawkins, Inc.'s Annual Report on Form 10-K. Hawkins disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. ©2021 Hawkins, Inc. 2#32582 1778 Index GREIGHTLINDS PRZ9756° Overview Locations/Capabilities and Products Business Strategy Financials Reporting Segments Industrial Water Treatment Health and Nutrition Summary ©2021 Hawkins, Inc. HAWKINS 3#4COVID-19 SNAPSHOT HAWKINS HAWKINS IS CONSIDERED PART OF OUR COUNTRY'S ESSENTIAL CRITICAL INFRASTRUCTURE Hawkins impacts millions of people daily across the U.S. We provide: Critical products needed to maintain safe drinking water - Ingredients essential for large-scale food, pharmaceutical and other health product manufacturing Products needed to support our critical infrastructure ☐ Employee and Customer safety is always a priority Hawkins strives to comply with all CDC requirements Implemented additional processes and procedures to ensure safety Redundant plant capabilities Increased inventory to meet customer needs ©2021 Hawkins, Inc. 4#5SUSTAINABILITY HAWKINS Hawkins is committed to demonstrating environmental responsibility in our operations. Nearly all the chemicals that we sell can be neutralized to a safe pH balance when necessary, reducing their impact on the environment Many of our products can be used to help our customers improve efficiencies, reduce emissions and improve their environmental footprint Hawkins Water Treatment Group supplies the products that keep water safe and clean for millions of people throughout the United States Core to our business is ensuring product quality, safety, and responsible distribution ©2021 Hawkins, Inc. 10 5#6COMPANY SNAPSHOT HAWKINS Hawkins' diversified market segments provide multiple avenues for sustainable and profitable growth and create synergies among the different segments. FISCAL 2020 REVENUE BY SEGMENT $105.1M 19% Three Business Segments: In Wt Hn Industrial Water Treatment Health & Nutrition ©2021 Hawkins, Inc. $275.2M 51% $159.9M 30% Water Treatment Industrial Health & Nutrition Investor Presentation - B#7ACQUISITIONS IN LOUISIANA ADD TO WATER TREATMENT FOOTPRINT HAWKINS Hawkins acquired C&L Aqua Professionals, Inc. and LC Blending Inc. (together, “C&L Aqua”) on December 30, 2020 C&L Aqua started business in 1996 and has a similar go- to-market strategy as Hawkins C&L Aqua expands our geographical footprint and filled a void in Louisiana Expanded product offerings will be available to their customers Former owner will continue to be involved in the business Acquisition expected to be accretive within six months from acquisition date ©2021 Hawkins, Inc. 7#8LOCATIONS British Columbia dympa Washington Oregon Idaho Alberta 46 FACILITIES IN 21 STATES WITH 700+ EMPLOYEES PACIFIC OCEAN Arizona Poenit M Tucan Son Montana Saskatchewan South Dakota 10 Manitoba North Dakota CANADA Québec Ontario Lake Superior Minnesota 10 Merre 0 Iowa Owyny Nebraska Colorado Kansas Oops Santa Fe New Mexico bock Key Rail & Barge Capacity Rail Capacity Sales and Service Location • WTG WTG and IND IND Health and Nutrition MEXICO ©2021 Hawkins, Inc. "wichta 0 10 Clahoma City Wisconsin Madin Spring Illinois 0 Michigan 10 Chicag HAWKINS Пинем Hamp Maine New Brunswick Augusta Lefor Lake Oster Po New York Pennsylvania Cerend Massachusetts Home Conser Trsten tiledepe Ohio Indiana Can West Virginia Charicatoo Virginia Kentucky Missouri 0 Tenne Delewar WASHINGTON D. C. Raleigh North Carolina Oklahoma Arkansas Mississippi Atlanta Georgia Columb South Carolina Alabama 10 10 Texas on Werth Della "Mington Landu As siana Tampe Saint Radar Florida 101 0 Gulf of Mexico 10 ATLANTIC OCEAN THE BAHAMAS 8#9END MARKETS SERVED HAWKINS Pharmaceutical Sugars Excipients Phosphates Cleaners, Acid, Alkaline Food and Beverage " Preservatives Dairy Processing Aids Acidulants Brewery Products Ingredients Water Usage Wastewater Drinking Water ■ Pools Bioaugmentation Industrial / Manufacturing Mining and Oil Fields Metal Salts Cleaners and Acids Plating Additives Agriculture Health and Nutrition ■ Vitamins Amino Acids Minerals Botanicals Joint Products Sweeteners Excipients Other Markets Custom Blending Toll Manufacturing Customer Formulations ©2021 Hawkins, Inc. Fertilizers ■ Barn Water Treatment Crop Preservation 9#10SIGNIFICANT PRODUCTS HAWKINS Acetic Acid Ammonia and Aqua Ammonia Bleach Calcium Chloride Caustic Potash (Potassium Hydroxide) Caustic Soda (Sodium Hydroxide) • Chlorine Gas Ferric Chloride Formic Acid Brewery Products Flocculants Hydrochloric Acid Coagulants Nitric Acid Precipitants Phosphoric Acid Antifoams Propionic Acid Fluoridation Propylene Glycol Equipment Sulfuric Acid Agricultural Urea Food Additives and Preservatives ☐ Fertilizers and Adjuvants Amino acids Minerals Oils and thousands more... ©2021 Hawkins, Inc. 10 10#11BUSINESS STRATEGY HAWKINS Expand our specialty and value-added services Customer formulation Technical and quality Sales Bolster and improve our extensive supplier base Add new Water Treatment facilities annually Invest in higher margin / growth production capabilities Foster strong people culture Hire and develop employees Safe and ethical Continuous improvement ACQUISITIONS INTRODUCE NEW PRODUCTS & PRODUCT LINES EXPAND CURRENT MARKETS & GROW NEW MARKETS CONTINUE TO ADD DISTRIBUTION PARTNERS ©2021 Hawkins, Inc. MAINTAIN CURRENT CUSTOMER/ SUPPLY RELATIONSHIPS 11#12Hn Health & Nutrition HAWKINS Financials In Industrial Wt Water Treatment#13FISCAL 2021 QUARTER 3 FINANCIALS 11TH CONSECUTIVE QUARTER OF YEAR-OVER-YEAR OPERATING INCOME GROWTH REVENUE ($ Million) 19% HAWKINS OPERATING INCOME ($ Million) 55% Record third quarter revenue of $142.9M, growth of 19% over the prior year Record third quarter gross profit of $28.2M, a 31% increase over the prior year Diluted Earnings Per Share (EPS) of $0.75, 74% higher than the prior year $120.4 $142. 9 $6.8 $10.5 Q3 FY20 Q3 FY21 Q3 FY20 Q3 FY21 NET INCOME ($ Million) DILUTED EPS 74% 74% $4.5 $7.9 $0.43 $0.75 Q3 FY20 Q3 FY21 Q3 FY20 Q3 FY21 ©2021 Hawkins, Inc. 13#14FISCAL 2021 QUARTER 3 YEAR-TO-DATE FINANCIALS DOUBLE-DIGIT YEAR-OVER-YEAR PROFIT GROWTH REVENUE ($ Million) 6% HAWKINS OPERATING INCOME ($ Million) Revenue growth of 6% to $433.9M Record YTD gross profit of $92.0M, up 18% Net income and diluted EPS up 35% over the prior year $407.8 $433.9 27% $33.9 $43.0 Q3 FY20 Q3 FY21 Q3 FY20 Q3 FY21 NET INCOME ($ Million) 35% DILUTED EPS 35% ©2021 Hawkins, Inc. $23.6 $31.9 $2.22 $3.00 Q3 FY20 Q3 FY21 Q3 FY20 Q3 FY21 14#15☐ FISCAL 2021 QUARTER 3 TRAILING 12 MONTHS TRAILING 12-MONTH EPS OF $3.46 REVENUE ($ Million) HAWKINS OPERATING INCOME ($ Million) Record trailing 12-month revenue of $566.3M Record trailing 12-month diluted EPS EBITDA of $77.0M, a 20% increase over the trailing 12- month period 5% 28% $540.8 $566.3 $39.7 $50.8 Q3 FY20 Q3 FY21 Q3 FY20 Q3 FY21 $64.1 EBITDA ($ Million) 20% DILUTED EPS 35% $77.0 $2.57 $3.46 ©2021 Hawkins, Inc. Q3 FY20 Q3 FY21 Q3 FY20 Q3 FY21 15#16FISCAL 2016-2020 FINANCIALS (IN MILLIONS) SALES GROSS PROFIT (5.9% CAGR) HAWKINS NET INCOME (11.9% CAGR) (6.9% CAGR) $98.1 $100.9 $28.4 $95.9 $24.4 $483.6 $504.2 $556.3 $540.2 $80.3 $86.8 $22.6 $414.0 $18.1 $16.0 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2016 FY 2017 FY 2018* FY 2019 FY 2020 DILUTED EPS (11.5% CAGR) $2.66 $2.28 $2.13 $1.72 $1.50 OPERATING CASH FLOW (12.9% CAGR) $44.9 $36.3 $27.3 $58.9 $48.0 FY 2016 FY 2017 FY 2018* FY 2019 FY 2020 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 *Adjusted to exclude goodwill impairment change of $39.1 million ($3.68 per diluted share) related to our Health & Nutrition segment and a one-time tax benefit of $13.9 million ($1.31 per diluted share) ** FY19 changed to quarterly dividends, FY19 annualized quarterly dividend would have equated to $0.90 DIVIDEND PAID PER SHARE (Dollars) (4.3% CAGR) $1.12 $0.78 $0.82 $0.86 $0.9225 FY 2016 FY 2017 FY 2018 FY 2019** FY 2020 16#17Hn Health & Nutrition HAWKINS Reporting Segments Wt Water Treatment In Industrial#18In Industrial Our Industrial Group formulates, manufactures, and distributes specialty and industrial chemicals. Hawkins also provides custom toll blending and product development services for our customers. HAWKINS#19In Industrial FOCUS AREAS HAWKINS Typical end markets: Industrial Manufacturers Food Processors Pharmaceutical Oil Fields Surface Finishers Agricultural Operations Market Focus Areas: ☐ Food Ingredients Pharmaceutical Oil and Gas Chemical Processing Agricultural Electronics Plating Energy O2021 Hawkins, Inc. 19#20HAWKINS In INDUSTRIAL FINANCIALS (IN MILLIONS) Industrial SALES (2.3% CAGR) GROSS PROFIT (0.6% CAGR) $251.7 $247.4 $238.6 $281.9 $275.2 FY 2020 $38.9 FY 2019 $34.9 FY 2018 $29.6 FY 2017 $38.9 FY 2016 $38.0 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 SG&A (2.2% CAGR) OPERATING INCOME (-1.6% CAGR) FY 2020 $24.1 $17.1 $15.8 FY 2019 $22.8 FY 2018 $21.2 FY 2017 $21.8 FY 2016 $22.1 ©2021 Hawkins, Inc. $14.8 $12.1 $8.5 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 20#21In DIFFERENTIATORS Industrial HAWKINS Technical Knowledge - 80+ Years of experience Geographic Distribution - Multiple manufacturing facilities with extensive storage capacity Custom Solutions, Toll Blending, Large and Diverse Product Lines Packaging to Fit Customers' Needs: Bulk, Drums, Totes, Custom Packaging Services Include: Contract Manufacturing and Packaging Regulatory and Safety Assistance Inventory Management Remote Tank Monitoring Technical and Engineering Support O2021 Hawkins, Inc. 21 21#22Wt Water Treatment Our Water Treatment Group specializes in providing chemicals, equipment, and solutions for potable water, municipal and industrial wastewater, agricultural water, and industrial process water. Our salesperson/route driver is a trained technician who can deliver our products and diagnose our customers' water treatment needs. We believe that the high level of service provided by these individuals allows us to serve as the trusted water treatment expert for the municipalities and other customers that we serve. HAWKINS#23Wt Water Treatment DIFFERENTIATORS Large Geographic Territory Locations in 33 Cities in 21 States Full Line Product Offering Chemistries and Equipment Route Sales/Service Business Model Technical Application Specialists HAWKINS O2021 Hawkins, Inc. 23#24Wt Water Treatment HAWKINS WATER TREATMENT FINANCIALS (IN MILLIONS) SALES (5.7% CAGR) GROSS PROFIT (4.3% CAGR) FY 2020 $41.9 $159.9 $149.5 FY 2019 $138.5 $38.0 $128.3 $129.0 FY 2018 $36.3 FY 2017 $36.0 FY 2016 $35.5 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 SG&A (0.7% CAGR) OPERATING INCOME (8.1% CAGR) FY 2020 $19.8 $22.1 FY 2019 $19.5 $18.5 $16.2 $16.2 $16.8 FY 2018 $19.4 FY 2017 $19.8 FY 2016 $19.3 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 ©2021 Hawkins, Inc. 24#25Wt Water Treatment FOCUS AREAS ☐ Municipal Drinking Water Municipal Wastewater Municipal Swimming Pools Industrial Wastewater Industrial Process Water Heating/Boiler Cooling Systems / Cooling Towers O2021 Hawkins, Inc. ☐ HAWKINS Breweries/Wineries Agricultural Water Treatment Poultry Swine Dairy ☐ Citrus Groves Farm Crops 15 25#26Hn Health & Nutrition Our Health & Nutrition Group provides a broad spectrum of high-quality ingredients that support dietary supplements, functional food and beverage, pharmaceutical and pet food products. Our Health & Nutrition Group is represented by a team of professionals trained to sell all product categories, to fully support product development on specific raw material requirements and applications. HAWKINS#27Hn Health & Nutrition PRODUCT CATEGORIES O2021 Hawkins, Inc. HAWKINS Energy, Immunity, and Cognition Ingredients Amino Acids Antioxidants Botanicals Enzymes Green Foods Minerals Oils/Oil Powders Fibers Probiotics Plant Proteins Vitamins 27 12#28Hn Health & Nutrition HEALTH AND NUTRITION FINANCIALS (IN MILLIONS) SALES (-3.3% CAGR) HAWKINS GROSS PROFIT (-4.7% CAGR) FY 2020 $125.0 $118.3 $116.1 $20.1 FY 2019 $23.1 $105.1 FY 2018 $20.9 FY 2017 $23.2 FY 2017 FY 2018 FY 2019 FY 2020 SG&A (-4.8% CAGR) OPERATING INCOME (-4.5% CAGR) FY 2020 $15.3 FY 2019 $6.2 $16.9 $5.5 $4.8 FY 2018 $18.8 $2.1 FY 2017 $17.8 FY 2017 FY 2018 FY 2019 FY 2020 ©2021 Hawkins, Inc. *Fiscal 2018 excludes goodwill impairment of $39.1 M 28#29Hn Health & Nutrition DIFFERENTIATORS HAWKINS Our Health & Nutrition group is positioned as a one-stop ingredient solutions provider to its customers and is highly regarded as a leader in the health and nutrition industry. Robust product portfolio Represents key brand manufacturers that offer science-based, clinically studied products Provides value-added services, including dry blending and granulation, quality control and compliance, and innovative solutions with an exceptional level of customer service O2021 Hawkins, Inc. 29#30Hn Health & Nutrition KEY BRANDS HAWKINS] Aquamin Stevia FSE natural sweetener Unique Enzyme-Treated Organic Stevia Extract Hereditum® PROBIOTICS nippi Enzymology ⚫ Research Center, Inc. Lipofoods COVICO PANMOL Fermentalg COCONUT SOLUTIONS Epax® pomma+ Pomegranate Extract ©2021 Hawkins, Inc. 30#31Hn Health & Nutrition HAWKINS Summary In Industrial Wt Water Treatment#32PEOPLE & CULTURE MATTER Strong Supplier Relationships - Strong partnerships with key suppliers including caustic soda, hydrochloric acid, phosphates and specialty products Tenured Employees Average tenure 7 years - 700+ employees Median employee pay $91k and CEO pay ratio of 20:1 Average Hawkins Executive tenure 15 years ©2021 Hawkins, Inc. ☐ ■ HAWKINS Long-Term Customers Strong, long-term relationships Deliveries 365 days/year Local Community Involvement COVID-19 Donations Products for production of sanitizers Bleach to local municipalities Dollars to food shelves and front- line workers 32#33SHAREHOLDER RETURN DIVIDENDS & SHARE REPURCHASES (IN MILLIONS) 18.0 16.0 14.0 $4.4 $5.9 12.0 $4.8 $12.0 10.0 8.0 $9.8 $9.2 $8.3 $8.7 6.0 4.0 2.0 HAWKINS 2.1% DIVIDEND YIELD 35 CONSECUTIVE YEARS OF CASH DIVIDENDS FY2016 FY2017 ■Dividends FY2018 ■Share Repurchases FY2019 FY2020 4.3% FY2016 FY2017 FY2018 FY2019 FY2020 FY20 DIVIDEND Dividends per Share: $0.78 $0.82 $0.86 $1.12 $0.9225 CAGR *FY19 changed to quarterly dividends, FY19 annualized quarterly dividend would have equated to $0.90 **Share repurchases are to offset dilution. FY17 and FY18, there were no share repurchases as focus was to pay down debt after the Health and Nutrition acquisition 33#34CAPITAL ALLOCATION FREE CASH FLOW (IN MILLIONS) Invest in the business Issue dividends 40.0 Manage Debt 35.0 30.0 Repurchase shares to offset dilution 25.0 20.0 Opportunistic 15.0 acquisitions $23.3 10.0 5.0 $12.1 ©2021 Hawkins, Inc. FY20 CAGR 29.9% $7.6 HAWKINS $35.4 $34.4 FY2016 FY2017 FY2018 FY2019 FY2020 Operating $36.3 $44.9 $27.3 $48.0 $58.9 Cash Flow: Capital ($24.2) ($21.6) ($19.7) ($12.6) ($24.5) Expenditures: 34#35BUSINESS STRATEGY HAWKINS HAWKINS 2381-2387 ROSEGATE Expand our specialty and value-added services Customer formulation Technical and quality Sales Add new Water Treatment facilities annually Bolster and improve our extensive supplier base Invest in higher margin / growth production capabilities Foster strong people culture Grow earnings ©2021 Hawkins, Inc. 35#36Hn Health & Nutrition HAWKINS Appendix In Industrial Wt Water Treatment#37NON-GAAP MEASURES HAWKINS Adjusted EBITDA Trailing 12 Months Ended FY2018 Adjusted Net Income Net (loss) Diluted (loss) December 27, (in thousands) 2020 December 29, 2019 (in thousands, except earnings Income share and per share data) per share Net income (loss) $ 36,662 $ 27,375 As Reported (GAAP) $ (9,177) $ (0.86) (GAAP) Interest expense 1,599 2,822 Revaluation of net deferred tax liabilities (13,943) (1.31) Income tax expense 13,303 10,092 (benefit) Goodwill impairment 39,116 3.68 Amortization of 5,505 5,074 intangibles As Adjusted $ 15,996 $ 1.50 Depreciation expense 16,633 16,465 Non-cash compensation 2,746 2,266 expense Non-recurring 508 acquisition expense Adjusted EBITDA $ 76,956 $ 64,094 ©2021 Hawkins, Inc. 37 40#38Hn Health & Nutrition HAWKINS Celebrating 80+ Years of Serving Our Customers In Industrial Wt Water Treatment