Third Point Management Activist Presentation Deck

CONSUMER PRODUCTS INDUSTRY HAS CHANGED Consumers increasingly prefer variety of new product attributes gluten free THIRD POINT lactose free locally sourced organic authentic, craft Nestle flexitarian natural high protein novel food experiences no GMO artificial free flavours Source: Third Point LLC; Nestlé company materials; Google Images Shopping habits have also evolved → Shift to eCommerce lowering barriers to entry and driving influx of new competition Rise of club stores and hard discounters accelerating shift to private label products amazon COSTCO LADL EWHOLESALE EL. Alibaba.com 6

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