Pro Forma Financials and Market Positioning

Accelerate Power Brands Through Enhanced Marketing and Innovation Increase Marketing Spend Advertising Expense % of Sales LT Target: ~3-4% Strong Momentum in Key Power Brands Retail Sales ($mm) CAGR: 3% 3.8% Sutz $495 $563 ACV Distribution (%) 61% 47% 2019: ~1% butz BRANDS 2014 2019 2014 2019 CAGR: 15% $46 Peer Average (1) Zappo 44% POTATO CHIPS $23 ☐ Improve Brand Marketing Execution Shift from "push” to “pull” marketing orientation Reallocate existing spend to higher ROI marketing Leverage consumer research and insights Enhance new product innovation capabilities good health ENJOY BEING GOOD Improve sales execution with analytics and technology 18% 2014 2019 2014 2019 CAGR: 29% $48 37% 33% $13 2014 2019 2014 2019 Golden Flake Pork Skins CAGR: 12% $37 $63 14% 9% 2014 2019 2014 2019 Source: Company filings, Management estimates. IRI MULO-C data for 2014 and 2019 calendar years. 1). Represents last reported fiscal year advertising expense as a % of Net Sales per most recent form 10-K reviewed as of April 29, 2020. Peers include Campbell's, Flowers Foods, General Mills, Hain, Hershey, Hostess, J&J Snack Foods, Kellogg, Mondelez, and PepsiCo. utz BRANDS SM 23 23

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