Investor Presentaiton

VICTORIA PLC EXECUTIVE SUMMARY MARGINS UP 10%: DRIVEN BY PRODUCT MIX AND SYNERGIES Product diversification Underlying EBITDA Margin (%) Integration delivers operational synergies Procurement Production • Logistics Reorganisation of UK production and logistics Lowers costs Increases productivity Increases capacity Maintained competitive pricing in FY18 to drive market share gains FY13 FY14 FY15 FY16 FY17 FY18 5.8% 9.7% 12.5% 12.6% 13.8% Note: FY13 and FY14 reported EBITDA margins do not reflect the change in accounting policy, implemented in FY16, relating to capitalisation of sampling 15.2% 6

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