Hardship to Transformation: A Future Proof Greenyard

(N (in EURm) Hardship Transformation 3 years ago, a combination of unfavourable developments caused hardship for Greenyard 4.086 129 Hardship 3.912 AY1718 AY1819 Sales Adj. EBITDA 65 (in EURm) Transformation 4.061 96 AY1920 Sales Adj. EBITDA (in EURm) A future proof Greenyard 9m 2021 +10,3% CAGR 2,5% 150 106-110 CAGR >8,0% ~3,0% Adj. EBITDA% Serial negative events caused a strong, sudden drop in result Initiation of transformation plan to restore the true value of Greenyard 7 pillars underpinning Greenyard's further growth over the next four years Run-rate capex: F2021 F2425 60-65mEUR Sales Adj. EBITDA Listeria contamination: Contamination in Hungarian plant leading to many exceptional costs Revenue model transition pains: price and volume pressure due to lengthy and high impact change process (as well for Greenyard as for retailer) to build a partnership Adverse weather conditions: negative impact which resulted in waste, lower production and overhead absorption These three exceptional circumstances, coming together, in combination with the high debt and low group/cash focus (at that time) in Greenyard, led to financial difficulties Note: Financials above are Pre IFRS 16 22 12 GREENYARD Future proof

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