Freshpet Distribution and Sales Performance

Growth Goal: $300 million net sales as soon as 2020 Future Economic Model Projected Growth Rate FY 2016 15% 2020 15-20% Stores 16,609 23,000 ACV % 40.4 > 50 Adj. Gross Margin 50.9% 52% Adj. EBITDA Margin 13% 20% Media Investment ~6% of sales ~9% of sales Advertising Payback Free Cash Flow 1.5 yrs <1 yr -$13.9M ~15% of sales* *Before capacity expansion for sales beyond $300 million $ in millions freshpet 6

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