Freshpet Expansion and Growth Strategy

Increased scale/efficiency will deliver $60M Adj. EBITDA in 2020 $28.0 Increased $6.0 Fixed SG&A of 4% $1.5 $60.0 $(1.5) Logistics & $2.0 Brokerage $24.0 Adjusted Gross Reduced int'l Margin Increase Efficiencies (1/2%) from 50% to investment/I OSS 52% on sales $300MM net FY19 Adj. EBITDA Guidance Contribution on $60mm of Additional Net Sales to get to $300MM freshpet FY20 Adj. EBITDA Plan 19

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