Freshpet Expansion and Growth Strategy

Freshpet Kitchens 2.0 Adjusted Gross Margin Growth Safety, quality, and productivity enhancements will improve adjusted gross margin by 100 basis points, with an additional 50 basis points due to scale Adjusted Gross Margin 56.0% 54.0% Adjusted Gross Margin 52.0% 50.0% 51.5% 51.1% 50.6% 48.0% 2015 2016 2017 freshpet 50.2% 2018 Actual Adjusted Gross Margin 53.5% 52.0% 2020 projected 2022 projected 663

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