Pro Forma Financials and Market Positioning

Attractive Value Creation Potential Net Sales Adj. EBITDA Long-Term Organic Growth Model In-Line with Category 3-4% (¹) 6-8% Power Brands Focus Productivity / Margin Enhancements Deleveraging Adj. EPS 8-10% Exp. Dividend Yield (2) -2% ~40% Target Payout Ratio Initial Annualized Dividend of $0.20 Per Share for FY 2020 Total Shareholder Return -10-12% Plus Additional Upside From Strategic Acquisitions 1). Based on management estimates. 2). Does not include potential incremental dividends from excess tax distributions. utz BRANDS SM 10

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