Freshpet Expansion and Growth Strategy

Gaining SG&A leverage and reinvesting for growth SG&A Leverage Y-o-Y FY 2017 FY 2018 Change Adj. SG&A % Excluding Media 31.0% 28.5% 2.4% Media% 8.9% 11.1% -2.2% Total Adj. SG&A % 39.9% 39.7% 0.2% freshpet 18

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