Pro Forma Financials and Market Positioning

Utz Growth During COVID Significantly Better than Competitors Owned manufacturing network with available capacity and durable supplier relationships allowed for flexible and efficient production scale-up to meet significantly increased demand DSD distribution system with superior execution facilitated fast shelf replenishment and greater in-stocks ■ Consumers reassured by strong brand recognition in Core geographies Significant growth delivered across key retail channels with less exposure to COVID-impacted channels Utz Brands annual retail sales exceeded $1 billion for first time (52 weeks ended 4/19/20) (1) 2020 YoY Salty Snacks Retail Sales Growth (1) 4-Week Period Ended 2/23/20 5% 4% 3% 5% 6% Pre-COVID-19 Post-COVID-19 Total Salty butz BRANDS Snacks PEPSICO Campbell's Kellogg's butz BRANDS, ร 4% 5% Private Label 1). Retail Sales based on IRI Salty Snacks category for MULO+C unless otherwise noted. SM 14% 14% Snacks 24% 20% 12-Week Period Ended 5/17/20 By Channel 38% ■Total SS 36% 14% 10% 9% PEPSICO Campbella Kellogg's butz Private Label 26% 24% ■ Utz Brands 24% 20% 18% (11%) (10%) MULO+C Food Mass Club Convenience 28

View entire presentation