#1Del Monte Quality INNOVATING FOR A BETTER WORLD TOMORROW Fresh Del Monte Produce Inc. Investor Relations May 5, 2021#2Forward-Looking Statements This presentation contains certain forward-looking statements regarding the intent, beliefs or current expectations of the Company or its officers with respect to the Company's plans and future performance. These forward-looking statements are based on information currently available to the Company and the Company assumes no obligation to update these statements. It is important to note that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties. All forward-looking statements in this presentation are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statements. The Company's plans and performance may also be affected by the factors described in Item 1A. - "Risk Factors” in Fresh Del Monte Produce Inc.'s Quarterly Report on Form 10-Q for the quarter and its Annual Report on Form 10-K for fiscal year 2020 along with other reports that the Company has on file with the Securities and Exchange Commission. 2#3WHO WE ARE - Key Differentiators FRESH DEL MONTE PRODUCE 21 000 Diverse Portfolio with demand for value-added produce growing Global player with a leading brand loved by consumers Purpose-driven growth: ESG integration as a competitive advantage Positioned like no one else - vertically integrated, diversified & innovative Purposeful & Targeted 5-Year strategic transformation capitalizes on our strengths 3#4HOW WE GOT THERE - Decades of Growth FRESH DEL MONTE PRODUCE AT A GLANCE 1892 Del Monte brand established 1996 Del Monte Fresh Produce acquired by current management Introduced the first new pineapple variety in more than 15 years; the Del Monte Gold Extra Sweet Pineapple 2004 Acquired Del Monte Foods Europe 2013-14 Acquired tomato agricultural production land in Florida and Virginia Acquired additional production land in Costa Rica & Nicaragua & expanded Philippine banana production 2016 Acquired blueberry and deciduous farms in South America 2017 Announced new joint ventures with Del Monte Pacific Limited in retail & refrigerated grocery products Invested in Panama's banana production 1989 Fresh business separated from canned 1997 IPO NYSE 1999 Expanded 2008 Acquired Caribana, substantially increasing Del Monte branded banana and Del Monte Gold pineapple production in Costa Rica "value-added" to include fresh-cut fruit and vegetables 2014 Launched a protein line in our Dallas facility and rolled out protein salads and snack offerings that include fresh fruit & vegetables Del Monte Fresh Produce opened its first distribution center and fresh-cut facility in Canada 2018 2020 Announced 5-Year strategic plan Implemented $100 million asset sale optimization program Acquired Mann Packing Company, a leading supplier of fresh vegetables, an equity investment in plant-based meal kits Made a strategic partnership with Greener Farms 4#5A Diversified Company Positioned for Long-Term Growth...#6Worldwide Business - Unmatched Global Network FRESH DEL MONTE PRODUCE AT A GLANCE We are one of the world's leading vertically- integrated producers, distributors and marketers of fresh and fresh-cut fruit and vegetables as well as a leading producer and distributor of prepared fruit and vegetables, juices, beverages, snacks and desserts in Europe, Africa and the Middle East. 90+ COUNTRIES 37,600 21 000 FRESH AND VALUE-ADDED PRODUCTS EMPLOYEES GLOBALLY 46 25 FRESH CUT OPERATIONS (NORTH AMERICA: 14) WORLDWIDE DISTRIBUTION CENTERS (NORTH AMERICA: 32) 18 F&B STORES (NORTH AMERICA: 1) 最 +12 VESSELS 6#7Worldwide Business - Unmatched Global Network FRESH DEL MONTE PRODUCE AT A GLANCE IN 2020 45% OF OUR FRESH PRODUCE WAS GROWN ON COMPANY- CONTROLLED FARMS 103k ACRES UNDER PRODUCTION 61k 42k 26% ACRES OWNED ACRES LEASED OF OWNED ACRES SET ASIDE TO PRESERVE BIODIVERSITY AND PROTECT WILDLIFE#8Worldwide Business - Broad Portfolio of Products IN 2020 U.S. & CANADA Sales EUROPE Sales & Sourcing FRESH DEL MONTE PRODUCE AT A GLANCE CENTRAL AMERICA ASIA AFRICA Sourcing Sales Sales ■Bananas ■Fresh & fresh-cut fruit ■Fresh fruit and vegetables Prepared food Sourcing Beverages ■ Bananas Pineapples Sourcing Pineapples Fresh-cut fruit and vegetables Prepared food Beverages ■Fresh & fresh-cut fruit and vegetables Prepared food Sourcing ■Fresh-cut fruit and vegetables Vegetables Prepared food MEXICO Sourcing ■ Avocados Vegetables ■Fresh & Fresh-cut fruit and vegetables Prepared food MIDDLE EAST Sales & Sourcing ■Fresh & Fresh-cut fruit and vegetables Prepared food Poultry & meat ■ Beverages Pineapples Melons ■ Mangos Plantains IQF (frozen fruit) Vegetables SOUTH AMERICA Sourcing ■ Avocados ■ Non-tropical ■ Berries Grapes 8#9Broad Portfolio of Products - Leading Market Positions FRESH DEL MONTE PRODUCE AT A GLANCE Leading marketer of fresh pineapples in the U.S., and a leading marketer in other markets worldwide A leading marketer of fresh-cut fruit in the U.S, Canada, Japan, South Korea, U.K., UAE & Saudi Arabia Third largest marketer of bananas in the U.S., and a leading marketer of bananas in other markets worldwide A leading marketer of avocados and grapes in the U.S., and non- tropical fruit in select markets A leading marketer of fresh and fresh- cut vegetables in North America A leading marketer of canned fruit in the European Union and other European and Middle East markets 9#10One of the Most Widely Recognized Food Brands Worldwide FRESH DEL MONTE PRODUCE AT A GLANCE Del Monte Quality Symbol of Quality and Freshness Broad Appeal Global opportunity to expand to new products and markets Health Wellness Better-for-you attributes 10#11Market Leader & Pioneer in the Fresh Produce Industry FRESH DEL MONTE PRODUCE AT A GLANCE Innovating Where We Have Advantage. We were the... ✓ FIRST to complete a national U.S. distribution network ✓ FIRST to launch a national fresh-cut fruit network ✓ FIRST to introduce premium gold pineapple FIRST to achieve Global G.A.P. ✓ FIRST to introduce MAGⓇ Melon ✓ FIRST to introduce a pink pineapple variety 11#12Diversified Sales & Product Platform Europe, 16% Middle East, 10% Other, 1% BY REGION Asia, 11% 2020 NET SALES: $4.2 BILLION North America, 62% FRESH DEL MONTE PRODUCE AT A GLANCE Other Products & Services 3% Tomatoes 1% Vegetables 4% Melons, 2% Avocados, 8% Non-Tropical Fruit, 5% BY PRODUCT Fresh-Cut Vegetables, 9% Fresh-Cut Fruit, 11% Pineapples, 11% Prepared Food, 6% Other Fruit & Vegetables, 2% Bananas, 38% Retailers, Food Service, Casual Dining and Quick Serve, Warehouse and Club Stores, Convenience Stores Fresh & Value-Added $2.5 Billion Bananas $1.6 Billion Other Products and Services $116 Million 12#13Experienced and Results Oriented Management Name Mohammad Abu-Ghazaleh Youssef Zakharia Title Chairman and CEO President and COO Eduardo Bezerra Senior Vice President and CFO FRESH DEL MONTE PRODUCE AT A GLANCE Years at FDP 25 20 1 Marlene Gordon Senior Vice President - General Counsel, Chief Administrative Officer and General Counsel 2 Helmuth Lutty Senior Vice President - Shipping Operations Jorge Pelaez Vice President - Colombia, Ecuador, Central America & Brazil (CECAB) Jesus Rodriguez Sergio Mancilla Gianpaolo Renino Vice President, Sales North America Vice President - South America Vice President - Europe and Africa Mohammad Abbas Hans Sauter 23 36 1 25 16 Senior Vice President - Asia Pacific, Middle East and North Africa (APMENA) 13 Senior Vice President, Corporate R&D, QA and Agricultural Services Ziad Nabulsi Vice President, Operations North America 32 14 13#14Our Vision Inspiring healthy lifestyles through wholesome and convenient products 44 14#15Del Monte Quality Our Values EXCELLENCE: We provide high quality level in all our products and services to fully achieve business results. PASSION: We have a passion to consistently deliver the best quality, fresh, fresh-cut fruit and vegetables and prepared produce in the industry. CREATIVITY: We foster innovation and entrepreneurial behaviors. CARE: We relentlessly respect and focus on our employees, consumers, customers, environment and communities. TRUST: We empower our employees to make the best decisions for our organization fostering teamwork, focusing on speed, freedom to succeed and accountability. 15#16Del Monte Quality Sustainable Growth Strategy#17Unlocking the Value We have embarked on a 5-year plan to transform Fresh Del Monte Produce THE KEY ELEMENTS OF OUR TRANSFORMATION INVOLVE: +> Protect and grow the core Drive innovation and expansion growth on value-added categories Become a technology driven company + Become a consumer driven company Evolve our culture to increase employee -> engagement and productivity Sustainability: Waste Less for a Better World Tomorrow STRATEGIC IMPERATIVES 17#18Focus on Strong - Execution, Fundamentals and Returns UNLOCKING THE VALUE Protect and grow the core Drive innovation and expansion growth on value- added categories MANN'S Veggie Sides The perfectly simple addition to any meal 3 MINUTES MANNS Veggie Sides The perfectly simple addition to any meal (3 READY TO EAT MINUTES MANN'S Veggie Sides The perfectly sample addition to any mool 3 MINUTES broccoli with lemon herb sauce 100 salaries par serving- cauliflower with parmesan peppercorn sauce 90 calories per serving sweet potato with brown garsauce nourish MANN nourISH BOWLS SH BOWLS Fresh Veggie Newther SPICY FRAL by air HONEYGLOW PINGAFFL 18#19Focus on Leadership Area - Quality and Safety To demonstrate compliance with international regulations and standards on environmental protection, food safety and social accountability, our farms and our facilities are certified by one or more of the following standards: ■ Global GAP ■ ISO 14001 and ISO 9001 ■ SCS Sustainably Grown ■ OHSAS 18001 ■ SIFAV ■ Rainforest Alliance ■ Global GAP GRASP ■ PrimusGFS ■ FSSC/ISO 22000 ■ SQF ■ BRC ■ USFA / EU Organic UNLOCKING THE VALUE VERIFIED by SCS GLOBAL SERVICES CARBON FOOTPRINT 3 Ethical SUSTAINAMY GROWN CERTIFIED BESGLOBAL SERVICES GLOBAL GAP Trading ISO CDP Initiative primus GFS CERTIFIED CARBON NEUTRAL T SCS GLOBAL SERVICES CAINFOREST PEOPL LIANC NATURE USDA ORGANIC 19#20Focus on Strong - Execution, Fundamentals and Returns Del Monte Del Monte ديلمونتي FRSHST BY FRESH DEL MONTE PRODUSE UNLOCKING THE VALUE The Del Monte Brand Food and Beverage Stores 204 GE 20#21Focus on Strong - Execution, Fundamentals and Returns NEW Del Monte ③用 Freekly Cut PICKY BOXES! READY MADE BOXES WITH MIXED FRUITS AND/OR VEGGIES ORDER THEM ANYTIME OR SUBSCRIBE TO RECEIVE THEM WEEKLY OR MONTHLY. Det Monte Search Wholesome Fruits Wholesome Vegetables Honie Mann Speciality Veggies Nourish Souls ALWAYS PICK THE BEST Login Register UNLOCKING THE VALUE Picky Box LARGE SIZED VEGGIE ONLY PICKY BOX FAMILY The Del MonteⓇ Brand E-Commerce Delivery to v Search © Shopping Cart 8 Login/Register Enter Your Adress 0 Item Organics Mann Speciality Veggies Freshly Cut Deli Corner Wholesome Snacks Picky Box Petit Pinkglow™ WARM MANN'S nourISH BOWLS MONTEREY RISOTTO- MONTEREY RISOTTO NOURISH BOWL Product id FC110095 Origin: USA $4.31 Each Delightfull 1 Add 8.75 oz Add to Favourites Share This Product Ingredients Vegetables (Butternut Squash, Kale, Kohlrabi), Brown Rice (Water, Brown Rice), Creamy Roasted Garlic Sauce (Soybean Oil, Water, Roasted Garlic, Butter (Cream, Salt), Vinegar, Egg Yolks, Parmesan Cheese (Part Skim Milk, Cheese Cultures, Salt, Enzymes), Salt, Contains Less Than 2% Of Cultured Nonfat Milk Powder, Sugar, Spices, Natural Flavor, Xanthan Gum) Frequently bought together $4.27 Shelf Life 16 days Allergen info Milk, Eggs Chat Del Monte Search Delivery to v Search © Enter Your Adras BLogin/Register Shopping Cart 0 Item BOX 402 Wholesome Fruits Wholesome Vegetables Organics Mann™ Speciality Veggies Freshly Cut Deli Corner Wholesome Snacks Picky Box Petit Pinkglow™ Home >Sick > Parfa VANILLA YOGURT PARFAIT WITH STRAWBERRIES Product id: FC110005 $2.75 ($0.42/) $3.44% Cup Add Add to Favourites Share This Product Ingredients Vanilla yogurt (cultured pasteurized grade a low fat milk, sugar, modified corn starch, contains less than 1% of modified tapioca starch, potassium sorbate added to maintain freshness, natural flavor, vitamin a acetate, vitamin d3), strawberries, granola [whole grain oats, sugar, crisp rice (rice flour, barley malt extract, salt), honey, brown sugar syrup, salt, baking soda, natural favor, vitamin e (mixed tocopherols) added to preserve freshness! Frequently bought together $2.75 3.44 (20% OFF Vanilla Yogurt Parfait with... Shelf Life Production Date - 8 days Southwest Chipotle Nourish Bowl Keep refrigerated between Should be stored between 33-40 °F (0.6-4.4°C) o Should be Consumed within Please Check Product Label for Best By Date Allergen info 0 $3.02 $2.28 (20% OFF Salted Caramel Yogurt Parfait with... $4.59 Mango Chunks. 21#22Focus on Strong - Execution, Fundamentals and Returns Del Monte Cat Healthy Live Healy Del mo UNLOCKING THE VALUE Become a technology driven company Become a consumer driven company 22#23Focus on Strong - Execution, Fundamentals and Returns Evolve our culture to increase employee engagement and productivity Bet Monte UNLOCKING THE VALUE 23#24Focus on Strong - Execution, Fundamentals and Returns UNLOCKING THE VALUE Diversity and Inclusion We strive to foster a culture of diversity and inclusion ("D&I") so all employees feel respected and no employee feels discriminated against. We are proud of our diversity across our organization and especially our leadership team, of which 25% identifies as Hispanic, 17% identifies as Black and 25% identifies as Middle Eastern. We embrace diversity throughout our company as we have employees across six different generations and many different backgrounds. In 2019, we launched an internal diversity audit to better understand diversity, equity and inclusion within our organization. We have adopted this audit and are currently in the process of our second iteration. In 2021, a formal council comprised of senior leadership will work to connect our D&I efforts with our overall business strategy to communicate our goals, develop mechanisms to achieve those goals and track our progress. We believe a diverse workforce fosters innovation and cultivates an environment of unique perspectives. As a result, diversity and inclusion help us meet the needs of our customers around the world. Source: 2020 10-K#25Sustainability: Waste Less for a Better World Tomorrow UNLOCKING THE VALUE PROVIDING HEALTHY CHOICES Encourage healthy lifestyles by providing fresh and wholesome food to our consumers. 12 PROTECTING OUR PLANET Protect and promote the health of our planet, its wildlife and its natural resources. 13 15 လ GROWING WITH OUR COMMUNITIES Ensure the well-being of our communities and foster growth and development within each of them. LIVING OUR VALUES Provide wholesome, safe and fresh products by supporting our team members and integrating our values into everything we do. 17 25#26Sustainability: Waste Less for a Better World Tomorrow 35% Our 2025 Commitments 120% Del Monte Quality 864,167 Trees Planted Since 2016 We commit to planting and/or donating 2,500,000 trees by 2025 100% 350+ Local Sustainability Programs We commit to supporting 300 local sustainability programs that create measurable and lasting change by 2025 74% We aim to live our values every day We commit to living our values 100 percent every day and integrate them into everything that we do by 2025 71% 9,245 Students and Adult Learners We commit to providing educational opportunities to 20,000 students and adult learners by 2025 Of Product Sustainably Sourced We commit to having 100 percent of our product volume certified as sustainable by a third party by 2025 24% Of Protected Land Monitored Annually We commit to monitoring 100 percent of our protected areas annually by 2025 through species inventories in each of our reserves#27ESG Initiative Example universalaccessproject UNITED NATIONS FOUNDATION PRIVATE SECTOR ACTION FOR WOMEN'S HEALTH AND EMPOWERMENT THIS CERTIFICATE RECOGNIZES THAT FRESH DEL MONTE KENYA has made a 2020 commitment to reach 10,000 women workers and community members with reproductive health information and services through company-led programs by 2024. Dal Muttal David Wofford Senior Director, Private Sector Action for Women's Health and Empowerment Seema Salan Seema Jalan Executive Director, Universal Access Project at the United Nations Foundation PR Daily's Corporate Social Responsibility AWARDS WINNER KENYA WILDLIFE SERVICE CERTIFICATE OF APPRECIATION Is hereby granted to DEL MONTE KENYA LIMITED For your support and participation in the rehabilitation of Ol Donyo Sabuk National Park habitat through tree planting. Lekishon Kenana ASSISTANT DIRECTOR-SOUTHERN CONSERVATION AREA#28Sustainability: Waste Less for a Better World Tomorrow UNLOCKING THE VALUE Del Monte Quality A BETTER WORLD TOMORROW A BETTER WORLD VISIT TOMORROW US ONLINE WWW.FRESHDELMONTE.COM/SUSTAINABILITY 28#29Del Monte Quality Financial Review#30Summary Data FINANCIAL PERFORMANCE Full Year 2016 2017 2018 2019 2020 Net Sales Gross Profit % Margin Operating Income Net Income** Net Income-Adjusted* EPS - GAAP EPS Adjusted EBITDA -Adjusted* SS SASAS SASSA $ 4,011 $ 4,086 $ 4,494 $ 4,489 $ 4,202 1st Quarter 2020 $ 1,118 $ 1,088 2021 461 $ 332 $ 286 306 12% 8% 6% 7% 251 6% 69 $ 105 6% 10% 244 $ 153 225 $ 121 246 123 SSS 39 $ 114 $ (22) $ 67 20 55 4.33 $ 2.39 $ (0.45) $ 1.38 $ $ 4.74 $ 2.43 $ 0.40 $ 1.12 $ $ 340 $ 233 $ 161 $ 209 $ SSSSSS 77 49 55 SA SASA 18 $ 60 13 $ 43 16 42 1.03 $ 0.27 $ 0.90 1.15 182 5959 $ 0.34 $ 0.88 $ 51 $ 82 82 Operating Cash Flow Capital Expenditures Total Debt SSS Full Year 2016 2017 2018 2019 2020 332 $ 194 $ 247 $ 169 $ 181 147 $ 139 $ 151 $ 122 $ 150 232 $ 358 $ 662 $ 587 $ 542 Three Months 2020 2021 2 $ 47 17 $ 34 599 $ 534 SSS U.S. dollars in millions, except share and per-share data *Excludes asset impairment, restructuring charges & gain/(loss) on the sale of assets. **Attributable to Fresh Del Monte Produce Inc. 30#31Fresh and Value-Added Products Fresh & value-added products includes pineapples, melons, tomatoes, non- tropical fruit, avocados, fresh-cut fruit & vegetables, vegetables, prepared fruit & vegetables, juices, other beverages, prepared meals, snacks & other fruit & vegetables. FINANCIAL PERFORMANCE Full Year 1st Quarter 2016 2017 2018 2019 2020 2020 2021 Net Sales Pineapples Fresh-Cut Fruit SASASA $ 2,074 $ 2,184 $ 2,655 $ 2,710 $ 2,484 $ 495 $ 493 $ 488 $ 455 $ 459 418 $ 497 $ 507 $ 524 $ 465 Fresh-Cut Vegetables 90 $ 94 $ 420 $ 462 $ 379 Non-Tropical Avocados Vegetables Prepared Food Gross Profit* SSSSS $ 260 $ 236 $ 227 $ 196 $ 211 230 $ 315 $ 329 $ 381 $ 327 30 $ 26 $ 151 $ 177 $ 156 $ 259 $ 230 $ 267 $ 280 $ 278 $ 302 $ 214 $ 187 $ 204 $ 184 SSS SSSSASA 661 $ 631 102 $ 124 116 $ 113 101 $ 89 62 $ 60 93 $ 84 39 $ 31 69 $ 75 50 $ 55 Gross Profit Margin 15% 10% 7% 8% 7% 8% 9% U.S. dollars in millions * Excludes one time charges 31#32Bananas Del Monte Quality Del Monte) Quality Del Monte Quality Del Monte Quality FINANCIAL PERFORMANCE Del Monte Quality 2016 2017 Net Sales $ 1,812 $ 1,775 $ Full Year 2018 1,703 $ 1st Quarter 2019 1,656 $ 2020 2020 2021 1,603 $ 427 $ 418 Gross Profit* $ 159 $ 113 $ 93 $ 105 $ 92 25 $ 48 Gross Profit Margin 9% 6% 5% 6% 6% 6% 11% U.S. dollars in millions *Excludes one time charges 32#33Adjusted Diluted Earnings Per Share $4.74 $2.43 FINANCIAL PERFORMANCE $1.15 $1.12 $0.88 $0.40 $0.34 2016 2017 2018 2019 2020 Q1 2020 Q1 2021 Excludes asset impairment, restructuring charges & gain/(loss) on the sale of assets. 33#34Adjusted EBITDA $340 $233 $209 $182 $161 FINANCIAL PERFORMANCE $82 $51 2016 2017 2018 2019 2020 Q1 2020 Q1 2021 U.S. dollars in millions Excludes asset impairment, restructuring charges & gain/(loss) on the sale of assets. 34#35Operating Cash Flow $332 $194 $247 $181 $169 FINANCIAL PERFORMANCE $47 $2 2016 2017 2018 2019 2020 Q1 2020 Q1 2021 U.S. dollars in millions 35#36Debt & Capital Expenditures / Investing in Diversification & Expansion Capital Expenditures $147 $151 $150 $139 $122 Debt $358 $232 FINANCIAL PERFORMANCE $662 $587 $542 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Repurchase Program ■ $318 million spent between 2016 and Q1 2021 Dividend Policy ■ Announced cash dividend of $0.10 per share on May 5, 2021 Total Debt ■ End of Q1 2021 $534 million U.S. dollars in millions Capital Expenditures ■ In 2020 we invested $150 million, compared with $122 million in the same period last year 36#37Asset Sale Optimization Program FINANCIAL PERFORMANCE Implemented $100 million Asset Sale Optimization Program ✓ Comprehensive review of all aspects of business ✓ Sell non-strategic and under-utilized assets ✓ To date $42.4 million of the $100.0 million 37#38Fresh Del Monte Produce Investment Highlights Clear Growth Strategy $100 million Asset Sale Optimization Program Vertically- Integrated and Global Operations Del Monte Quality Ⓡ Distribution and Fresh-Cut Centers (Value-Added Focus) DEL MONTEⓇ Brand Market Leader in Diverse Produce Categories 38#39Del Monte Quality Appendix#40Income Statement APPENDIX Full Year 2016 2017 2018 2019 2020 Net Sales Cost of Sales 4,011 $ 4,086 $ 4,494 $ 4,489 $ 4,202 1st Quarter 2020 $ 1,118 $ 1,088 2021 3,550 3,754 4,208 4,177 3,918 1,042 982 Restructuring and Other Charges 1 5 34 8 2 Gross Profit 461 332 286 306 251 69 105 % Margin 12% 8% 6% 7% 6% 6% 10% SG & A 187 173 201 201 196 53 49 Gain/(Loss) on sale of Assets/Other (3) 7 19 22 3 Asset Impairment & Other Charges 30 3 54 9 Operating Income 244 153 39 % Margin 6% 4% 1% 380 114 3% 2% Interest Expense (3) (6) (23) (24) Other, net Tax (Expense) Benefit Net Income** % Margin EPS - GAAP EPS Adjusted * EBITDA (4) (2) (22) (2) (21) (2) (12) (25) (16) (21) $ 225 $ 121 $ (22) $ 67 $ 6% 3% 0% 1% ༄། ཆ ིིག ន ៖ ១២ ៖ (1) 60 6% (5) (1) (11) 13 $ 43 1% 4% SASA 4.33 $ 2.39 $ (0.45) $ 1.38 $ 1.03 $ 0.27 $ 0.90 4.74 $ 2.43 $ 0.40 $ 1.12 $ 1.15 $ 0.34 $ 0.88 EBITDA - Adjusted* SA SA $ 319 $ $ 340 $ SASA 231 $ 118 $ 233 $ 161 SS 210 $ $ 209 SAS 177 $ 189 S5 45 $ 84 51 $ 82 ཚསྐྱ U.S. dollars in millions, except share and per-share data *Excludes asset impairment, restructuring charges & gain/(loss) on the sale of assets. **Attributable to Fresh Del Monte Produce Inc. 40#41Non-GAAP Measures APPENDIX The Company's results are determined in accordance with U.S. generally accepted accounting principles (GAAP). Certain information presented in this press release reflects adjustments to GAAP measures such as amounts related to restructuring, asset impairment and other (credits) charges, net, gain on disposal of property, plant and equipment, net, other product-related charges and certain other non-recurring items, if any. These adjustments result in non-GAAP financial measures and are referred to in this press release as Adjusted Gross profit, Adjusted Operating income, Adjusted FDP net income, and Adjusted Diluted EPS. Management believes these adjustments provide a more comparable analysis of the underlying operating performance of the business. This press release also includes non-GAAP measures such as EBITDA, Adjusted EBITDA, EBITDA margin, and Adjusted EBITDA margin. EBITDA is defined as net income attributable to Fresh Del Monte Produce Inc. excluding interest expense, net, provision for income taxes, depreciation and amortization, and share-based compensation expense. Adjusted EBITDA represents EBITDA with additional adjustments for non-recurring items. EBITDA margin represents EBITDA as a percentage of net sales, and adjusted EBITDA margin represents adjusted EBITDA as a percentage of net sales. Adjusted Gross profit, Adjusted Operating income, Adjusted FDP net income, and Adjusted EBITDA provide the Company with an understanding of the results from the primary operations of its business. The Company uses these metrics because management believes they provide more comparable measures to evaluate period-over-period operating performance since they exclude special items that are not indicative of the Company's core business or operations. These measures may be useful to an investor in evaluating the underlying operating performance of the Company's business because these measures: 1. Are used by investors to measure a company's comparable operating performance; 2. Are financial measurements that are used by lenders and other parties to evaluate creditworthiness; and 3. Are used by the Company's management for various purposes, including as measures of performance of its operating entities, as a basis of strategic planning and forecasting, and in certain cases as a basis for incentive compensation. Because all companies do not use identical calculations, the Company's presentation of these non-GAAP financial measures may not be comparable to similarly titled measures used by other companies. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are provided in the financial tables that accompany this release. 41#42Non-GAAP Reconciliation As reported April 2, 2021 Quarter ended March 27, 2020 APPENDIX Net income attributable to Fresh Del Operating Monte Gross Profit income Produce Inc. Diluted EPS Gross Profit income Operating Net income attributable to Fresh Del Monte Produce Inc. Diluted EPS $ 105.0 $ 59.7 $ 42.7 $ 0.90 $ 68.5 $ 17.8 $ 13.0 $ 0.27 Adjustments: Other product-related charges (1) 1.6 1.6 1.6 0.03 8.0 8.0 8.0 0.17 Asset impairment and other (credits) charges, net (2) (0.9) (0.9) (0.02) (1.8) (1.8) (0.04) Gain on disposal of property, plant and equipment, net (3) (2.7) (2.7) (0.1) (0.2) (0.2) Other adjustments (4) 0.2 0.2 Tax effects of all adjustments and other tax-related items (5) 0.9 0.02 (2.8) (0.06) As adjusted $ 106.6 $ 57.7 $ 41.6 $ 0.88 $ 76.5 $ 24.0 $ 16.4 $ 0.34 U.S. dollars in millions, except share and per-share data 42#43Reconciliation of EBITDA and Adjusted EBITDA Quarter ended April 2, 2021 March 27, 2020 Net income attributable to Fresh Del Monte Produce Inc. $ 42.7 $ 13.0 Interest expense, net 5.2 5.3 Provision for income taxes 11.0 0.3 Depreciation & amortization 23.8 23.6 Share-based comensation expense 1.6 2.6 EBITDA $ 84.3 $ 44.8 Adjustments: Other product-related charges (1) 1.6 SA 8.0 Asset impairment and other (credits) charges, net (2) (0.9) (1.8) Gain on disposal of property, plant and equipment, net (3) Other adjustments (4) (2.7) (0.2) 0.2 Adjusted EBITDA $ 82.3 51.0 Net sales $ 1,088.3 $ 1,118.0 7.7% 4.0% EBITDA margin (a) (a) Calculated as EBITDA as a percentage of net sales. Adjusted EBITDA margin (b) (b) Calculated as Adjusted EBITDA as a percentage of net sales. U.S. dollars in millions 7.6% 4.6% APPENDIX 43#44APPENDIX (1) Other product-related charges for the quarter ended April 2, 2021 primarily related to $3.1 million in inventory write-offs of non-tropical fruit resulting from inclement weather in Chile. Partially offsetting the inventory write-offs is a $2.5 million insurance recovery associated with damages to the Company's Guatemala banana operations caused by two hurricanes in the fourth quarter of 2020. Other product-related charges for the quarter ended March 27, 2020 included $8.0 million of inventory write-offs associated with the COVID-19 pandemic, primarily related to the fresh and value-added products segment. The COVID-19 pandemic led to volatile supply and demand conditions across the Company's key global markets in the first quarter of 2020 which negatively affected the pricing and demand for its products, including within its foodservice distribution channel. (2) Asset impairment and other (credits) charges, net for the quarter ended April 2, 2021 primarily related to an insurance recovery associated with damages to fixed assets in Guatemala caused by two hurricanes in the fourth quarter of 2020. Asset impairment and other (credits) charges, net for the quarter ended March 27, 2020 included (1) a $4.0 million insurance recovery related to a voluntary recall of vegetable products in 2019, (2) a $1.3 million charge relating to a settlement with the California Air Resource Board (refer to the Form 10-K for the year ended January 1, 2021 for further information on this matter), and (3) a $0.9 million impairment of property, plant, and equipment incurred in connection with the relocation of a facility in California. (3) Gain on disposal of property, plant and equipment, net for the quarter ended April 2, 2021 primarily related to a $2.4 million gain on the sale of a refrigerated vessel. Gain on disposal of property, plant and equipment, net for the quarter ended March 27, 2020 primarily related to a gain on the sale of marine equipment. (4) Other adjustments for the quarter ended March 27, 2020 related to estimated trade receivable credit losses, reflected in selling, general, and administrative expenses, primarily associated with the Company's foodservice customer base as a direct result of the COVID-19 pandemic. (5) Tax effects are calculated in accordance with ASC 740, Income Taxes, using the same methodology as the GAAP provision of income taxes. Income tax effects of non-GAAP adjustments are calculated based on the applicable statutory tax rate for each jurisdiction in which such charges were incurred, except for those items which are non-taxable for which the tax provision (benefit) was calculated at 0%. Certain non-GAAP adjustments were subject to valuation allowances and therefore were calculated at 0%. The quarter ended March 27, 2020 also includes a $1.7 million tax benefit associated with the Coronavirus Aid, Relief, and Economic Security ("CARES") Act. 44#45Balance Sheet APPENDIX Full Year Three Months 2016 2017 2018 2019 2020 2020 2021 ASSETS Cash & Short Term Investments $ 20 $ 25 $ 21 Accounts Receivable 412 432 $ 474 ᏌᏊ ᏌᎯ $ 33 $ 17 21 $ 26 $ 439 435 481 503 Inventory & Other 529 562 644 579 561 590 572 CURRENT ASSETS Property, Plant & Equipment All Other Assets TOTAL ASSETS $ 2,653 $ 2,767 $ 3,255 $ 3,350 $ 3,343 961 1,020 1,139 1,051 1,012 1,092 1,101 1,272 1,328 1,392 1,403 1,420 1,397 1,417 420 419 724 895 911 908 905 $ 3,396 $ 3,423 LIABILITIES Current Liabilities Long Term Debt Other Liabilities TOTAL LIABILITIES $ 369 $ 394 $ 586 $ 563 $ 555 $ 593 $ 599 232 357 662 587 542 599 534 236 225 238 401 447 439 432 837 976 1,486 1,551 1,544 1,630 1,565 SHAREHOLDER'S EQUITY 1,816 1,791 1,718 1,744 1,749 1,711 1,809 REEDEMABLE NONCONTROLING INTEREST $ 52 $ 55 $ 50 $ 56 $ 50 LIAB. & SHAREHOLDER'S EQUITY $ 2,653 $ 2,767 $ 3,255 $ 3,350 $ 3,343 $ 3,396 $ 3,423 U.S. dollars in millions 45#46Cash Flow APPENDIX Full Year Three Months 2016 2017 2018 2019 2020 2020 2021 Net Income Non-Cash Charges Working Capital $ 225 $ 121 $ (16) $ 69 $ 49 $ 13 $ 41 93 104 $ 150 $ 110 $ 98 26 24 13 (29) 113 (10) 37 (37) (18) Operating Cash Flow 332 194 247 169 181 2 47 Capital Expenditures Acquisitions/Disposals Changes in Debt Dividends Share Repurchase (147) (139) (151) (122) (150) (17) (34) (42) 5 (340) 69 41 3 (26) 126 305 (78) (45) 14 (8) (28) (30) (29) (108) (142) (29) (18) I (4) E- (7) (14) (5) (5) 85 (21) (8) 23 2 1 1 (11) (4) (9) SA $ (5) $ 5 $ (4) $ 11 $ (17) SA $ (13) $ 10 Equity Securities Proceeds From Share Issuance Proceeds from Stock Options Other, Net Net Change in Cash 12 U.S. dollars in millions 46