Hardship to Transformation: A Future Proof Greenyard

20 Hardship Transformation Future proof Unique long-term relationships | Deepening long-term relationships to produce more added value services remunerated by a stable EBITDA margin profile Full high-quality, optimised assortment Sourcing/assortment determined by retailer and Greenyard ►Growth with retailer gaining F&V market share, opening new stores, higher penetration with franchisees Better & more diverse assortment, products, availability and taste for the customers Stable volume allocation at a stable price for growers Invest in quality and secure availability in stores Integrated Supply Chain Transparent supply chain Integrated systems (e.g. in warehousing or IT) All/majority of F&V flows controlled by Greenyard All stores on platform Reduction of waste Increased demand predictability Improved transparency, traceabilityand improved product knowledge Reduced business volatility and increased efficiency Improved usage of natural resources/footprint Stable margins Transparent cost-plus structure Retail price determined by retailers and advised by Greenyard Incentives (e.g. quality, innovation, etc.) Categories (assortment)/volumes High Fresh partnership Frozen partnership Low Large European retailer Transparent cost-plus or target margin revenue model October 2020 +3 years Large European retailer Recent shift REWE Large European retailer Preparation phase November 2019 albert 湯 +20 years ch Albert Heijn September 2019 TESCO DELHAIZE +10 years Carrefour KI €250-350m potential uplift in sales for the coming four years thanks to partnerships with new and existing retailers Promotions at the right time and for the right product Strong visibility of earnings Phases towards integrated partnerships: Pipeline Often already existing (long-term) relationship, but market climate or retailer not yet ready to pursue an integrated partnership Define partnership arrangements, set-up organization (if applicable) and build Build phase Test, tailor and (re-) build cooperation - Growth by gaining a larger stake of the F&V assortment (towards full) Fully integrated Scaling up and deepening the range. Acceleration in volumes and value added services Long-term relationships foster the opportunity to grow the assortment, including in higher growth categories such as frozen fruit and meal kits, to optimise the supply chain, improve product quality and reduce waste, as well as to introduce innovation ✓ Consistent quality and price ✓ Retailer can focus on core competence (i.e. marketing and sales) trust GREENYARD

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