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Investor Presentaiton

Mid-long term strategy Filli Orsero QUALITÀ Filli Orsero QUALITA GRUPPO ORSERO ORSERO The Group's strategy is to keep focusing on its core business, with particular regard to fresh fruit and vegetables, strengthening its competitive position in southern Europe, while maintaining a solid financial and asset structure. IMPORT & DISTRIBUTION SEGMENT In the coming years, the Import & Distribution BU revenue growth drivers will be: Organic growth, which in turn is based on some development guidelines: limited but steady increase of consumption of fresh Fruit and Vegetables, consolidation of the European distribution market which is highly fragmented particularly in the Group key markets, ▸ development of products with a greater level of "convenience"/ service such as fresh-cut fruit, portioned and prewashed fruit, exotic fruit and fresh smoothies. Growth by external lines: acquisitions in the distribution sector; investment in companies specialized in market segments or high potential product lines Reduction of the dependence on bananas, by increasing the weight of the other products. Import, to maintain the current position in green banana and pineapples, search for attractive partnerships with growers ▸ monitoring of EUR/USD exchange rate; Medium-long term: increase from ~1% to -10% the share of distribution sales from all new and added-value product families SHIPPING Shipping, to preserve the value of the ship and trying to mitigate the exposure to the operational risks of this activity: Execution of the mandatory maintenance cycles (Dry-dock), - - Reduction of fuel consumption, BAF Clause (freight rate adjustment on fluctuation of fuel costs) IMO-MARPOL 2020 (*), is effective from 1 Jan. 2020: - The Group's reefer vessels are burning bunker fuel compliant with new regulations (i.e. Sulphur content <0,5%) (*) Environmental regulation promoted by the IMO to curb Sulphur emission, further information to the link: http://www.imo.org/en/mediacentre/hottopics/pages/sulphur-2020.aspx 31
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