2020 Annual Report Our Goal Is to Be the Fastest Growing Pure-Play Branded Snack Platform of Scale in the United States

2020 ANNUAL REPORT OUR GOAL IS TO BE THE FASTEST GROWING PURE-PLAY BRANDED SNACK PLATFORM OF SCALE IN THE UNITED STATES UTZ POWER BRANDS PORK SKINS FISCAL 2020 RESULTS $964M $134M 14% Net Sales Adjusted EBITDA1 Adjusted EBITDA Margin1 After a century, with a strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz’s products are distributed nationally through grocery, mass merchandisers, club, convenience, drug and other channels. 1See reconciliations of non-GAAP financial measures contained in the accompanying 10-K filing. VALUE CREATION STRATEGIES REDUCE COSTS AND ENHANCE MARGINS • Drive Productivity • Optimize Revenue and Trade • Improve Margin Mix CONTINUE STRATEGIC REINVEST TO ACCELERATE ACQUISITIONS REVENUE GROWTH • Focus on Branded Snacking • Accelerate Power Brands Through in the U.S. Enhanced Marketing and Innovation • Deliver Strong Synergies • Expand Distribution in Underpenetrated Channels and Customers • Continue National Geographic Expansion • Increase Presence in Key Salty Snack Subcategories and Adjacencies OUR WINNING POWER BRANDS PORTFOLIO MAJOR SUBCATEGORIES: POTATO CHIPS 2020 Retail Sales: $541M Subcategory Position: #4 TORTILLA CHIPS 2020 Retail Sales: $259M Subcategory Position: #3 OUR WINNING POWER BRANDS PORTFOLIO MAJOR SUBCATEGORIES: PRETZELS 2020 Retail Sales: $152M Subcategory Position: #2 CHEESE SNACKS 2020 Retail Sales: $134M Subcategory Position: #3 PORK RINDS 2020 Retail Sales: $80M Subcategory Position: #3 Source: IRI, MULO+C, 52 weeks ending December 27, 2020. Retail sales include Foundation Brands. Subcategory position represents branded rank, excluding private label from rankings. ATTRACTING AND MAINTAINING NEW SNACKERS 60.9 2020 UTZ BUYERS HAVE GROWN SIGNIFICANTLY1 57.9 2019 # of Buyers (in Millions) 70.0% 68.3% 52 WEEK ENDING 52 WEEK ENDING UTZ ADDED THE 12/29/19 12/27/20 MOST NEW BUYERS OF ANY SALTY SNACK PERCENTAGE OF UTZ BUYERS COMPETITOR IN 20201 REPEATING PURCHASES1 15.1% 2020 RETAIL SALES GROWTH SIGNIFICANTLY 9.1% OUTPACED THE TOTAL SALTY SNACK CATEGORY Utz vs. Total Salty Snack Category YoY Growth 52 Weeks Ending 12/27/20 WELL-POSITIONED FOR LONG-TERM GROWTH GAINED MOST BUYERS (3M) IN SALTY GEOGRAPHIC WHITESPACE SNACK CATEGORY IN 20201 AND AND UNDERPENETRATED CHANNELS REPEAT RATES ARE INCREASING SUPPORT CONTINUED TOPLINE GROWTH PRODUCTIVITY EFFORTS ENABLE INFRASTRUCTURE IMPROVEMENTS INCREMENTAL MARKETING AND WILL ENABLE OUR PLATFORM TO INNOVATION TO ACCELERATE CONTINUE TO SCALE REVENUE GROWTH STRATEGIC ACQUISITIONS DELIVER STRONG SYNERGIES AND ENHANCED COMPETITIVE POSITION 1 IRI Custom Panel, Total US - All Outlets; “Buyers” equivalent to est. households. # of Buyers and Dollars per Buyer on a pro forma basis. DEAR STOCKHOLDERS Dylan Lissette, Chief Executive Officer 2020 was an exciting and transformative year for Utz as we began our new chapter as a public company through our successful business combination with Collier Creek Holdings. We compete in a growing and competitive snack food category with a portfolio of iconic brands, expanding geographic reach, and a talented organization with strong acquisition capabilities. This combination, now with our enhanced access to capital as a public company, better positions us to realize our goal of being the fastest-growing pure-play branded snack platform of scale in the United States. During our transition to a public company, our business didn’t Added three million buyers of Utz products since the prior year skip a beat. As COVID-19 changed consumers’ eating habits – the most of any salty snack company and almost 2x the next and elevated at-home consumption, the strength of our brands closest competitor – and our repeat rate grew to 70%; and supply-distribution system, our dedicated employee base, and our unique, action-oriented culture, enabled us to Brought to market new snack food innovation including capitalize on this opportunity and deliver for our consumers Zapp’s® Evil Eye® Potato Chips, Good Health® Baked Fries and retail customers. In 2020, we drove double-digit retail and Puffs made with Organic Valley® cheese, Utz® Brand sales growth, and ended the year as the number three ranked Pourables®, Utz® Peanut Butter Pretzel Bites, among others; branded platform in U.S. Salty Snacks and one of the fastest Added key capabilities through the addition of key talent as growing salty snack platforms of scale. well as significant preparation for the successful launch of a new ERP software system in 2021, designed to further our 2020 also came with its fair share of challenges, as the impact of marketplace performance; and the global pandemic created a demanding environment for our ® team. Despite these challenges, we reacted quickly to address Completed acquisitions of H.K. Anderson and On the ® issues and put protocols in place to protect our associates and Border tortilla chips and dips, which further expands Utz customers, and importantly, our leaders ensured our culture Brands’ position in flavored pretzels and the tortilla chip ® continued to thrive even as a virtual company. subcategory, respectively; and we completed the Vitner’s acquisition in early 2021, expanding our presence in the Reflecting on our performance in 2020, we stayed true to important Chicago market. our commitment of executing against our long-term value creation strategies that we believe will enhance shareholder Looking ahead to 2021, we will continue to build on our value: Reducing costs and enhancing margins, reinvesting to strong foundation and execute against our long-term accelerate revenue growth, and continuing to make strategic strategic priorities that we believe will enhance shareholder acquisitions. I’m proud to say we made significant progress value. As we celebrate our centennial in 2021, we do so with across all three areas, and in doing so, we delivered against a our dedicated and action-oriented team, inspired by our number of important objectives in 2020: founders Bill & Salie Utz, and believe Utz is well positioned now, and for its next century of growth. Increased retail sales to over $1.3 billion, +15% versus the prior year, well ahead of the Salty Snack category; Thank you for your continued support of Utz. Expanded Adjusted Gross Margins approximately 270 Sincerely, basis points; Increased Adjusted EBITDA +55% to $134 million; Dylan Lissette Grew e-Commerce sales +125%, ending the year as one of Chief Executive Officer the fastest growing competitors of scale; Utz Brands, Inc. 2020 FORM 10-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 3, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38686 Utz Brands, Inc. (Exact name of registrant as specified in its charter) Delaware 85-2751850 (State or other jurisdiction (IRS Employer of incorporation) Identification No.) 900 High Street Hanover, PA 17331 (Address of principal executive offices, including zip code) Registrant’s telephone number, including area code: (717) 637-6644 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, par value $0.0001 per share UTZ New York Stock Exchange Securities registered pursuant to section 12(g) of the Act: None. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ◻ No ⌧ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ◻ No ⌧ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ⌧ No ◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ⌧ No ◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer ☐ Accelerated filer ☒ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☒ 1 If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ⌧ The aggregate market value of the Class A Ordinary Shares (prior to the Business Combination (as defined below)) held by non-affiliates was $602,800,000, as of June 30, 2020. As of March 16, 2021, 76,481,833 Class A Common Stock, par value $0.0001 per share, and 60,349,000 Class V Common Stock, par value $0.0001 per share, were issued and outstanding.

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