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Commodity Trends - Beef Beef Index Chart 18.000 16.000 USD 14.000 Based 12.000 Index Per lbs 10.000 8.000 6.000 4.000 week 13 2019 week 26 2020 week 39 week 52 2021 Index is comprised of a weighted basket of the following beef products: striploins, top butts, inside rounds, and 50%, 85% and 90% trims Source: USDA Extraordinary Times Extraordinary Team Demand factors Reopening of economies China imports Consumer disposable income Rising consumer prices Supply factors Labor shortages - particularly impacting value-added inputs Droughts US, Australia (lower weights, future production) Supply chain disruptions as supply channels and demand patterns begin to normalize 42

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