COMPANY PROFILE

Granarolo - for internal use only Granarolo Group Intesa SanPaolo Granlatte Scarl Cooperlat Corporate structure 19,78% 77,48% 2,74%

Granarolo S.p.A.

ITALIA 100% 100% 100% 65% 50% 100% 60% 97% 100%

Centrale Amalattea Casearia Pastificio Gennari Zeroquattro Conbio San Lucio Venchiaredo del Gusto Italia Podda Granarolo Italia S.r.l. S.r.l. S.r.l. S.p.A. S.r.l. S.r.l. S.r.l. S.r.l. S.r.l.

EUROPA 100%

100% 70% 55% 89% 100% 60% 100% Mulino Formaggi Granarolo S.r.l. Granarolo Granarolo Iberica Granarolo Granarolo Granarolo Granarolo Granarolo Benelux Nordic AB Stabile France Sas Baltics OÜ Suisse SA Hellas SA UK Ltd Organizzazione Sarl

RESTO DEL MONDO 100% Midland Chilled 100% 100% 100% 100% 100% Food UK

Allfood Importação Yema Granarolo Granarolo Indústria e Distribuidora Granarolo Granarolo China New Zeland Comércio SA de Alimentos Chile S.p.A. USA Commercial Ltda. Ltd Relations Office Aggiornamento: Aprile 2021

This information is confidential and was prepared by Granarolo, it is not to be relied on by any 3rd party without Granarolo’s prior written consent 2 Granarolo - for internal use only Granarolo Group values

Simplification One step ahead We simplify complexity to maximize Group's We are pioneers and keep an eye on the future. performance and growth. We promote innovation and sustainability actions We seek efficiency, also through specialization and to create value and wellbeing for all our an easy approach to relationships. shareholders, our employees, consumers and the environment.

Excellence Responsibility We pursue excellence in processes, We live the company as if it were our own, performance and products we never lose sight of our goals, we are fast, through client orientation, team det ermined and achieve t he t arget s. involvement and by enhancing the skills We are driven by passion and dedication and and the merits of our people: doing so, we we take responsibility for courageous strengthen the value of our brand and decisions, having in mind the impact on the protect t he reput at ion of t he Group. entire organization.

Every day, we are responsible for taking a step toward excellence

3 Granarolo - for internal use only Presence in 76 different Granarolo Group countries worldwide 40 million consumers 20,000 families get their Overview More than 600 farmers income from our work in 12 Italian regions

850,000 tons of milk 2,454 employees processed every year (1,537 in 2009)

8 plants abroad 740 vehicles distribute (2 in France, 1 in UK, 1 in products to 45,000 Germany, 3 in Brazil, 1 in Italian point of sales New Zealand)

11 plants in 7 70 trucks collect milk Italian regions from the farms

More than 1,28 billion euros turnover in 2020

4 Granarolo - for internal use only Granarolo Group 11 plants in

5 Granarolo - for internal use only Granarolo Group 8 plants abroad

6 Granarolo - for internal use only Granarolo Group: competitive position in the main markets

The major dairy group in Italy with a recent expansion in the global market, recognised as:

1st player in the fresh milk market

1st player in the standard UHT milk market

3rd player in the full fat & low fat yogurt market

2nd player in the fresh cheese market

1st player in fresh cream & 2nd player in UHT cream market

1st player in the hard cheese market and 2nd player in the fresh cheese market in France

7 Granarolo - for internal use only Granarolo Group: AnnualTurnover

Covid impact COVID impact

Source: Management Data

8 Granarolo - for internal use only Granarolo Group 8% Product diversification 58% 12% FY 2011 THE GRANAROLO GROUP’S STRATEGY HAS BEEN NET SALES BY BU TO INCREASE THE WEIGHT OF THE CHEESE AND BUTTER MILK AND CREAM CATEGORY TO COMPENSATE FOR THE SHRINKING CHEESE AND BUTTER

MILK AND CREAM CATEGORY 22% YOGHURT AND SNACK OTHER – NO DAIRY

17% 32% FY 2020 8% NET SALES BY BU MILK AND CREAM CHEESE YOGURT, BABYFOOD AND SNACK 43% OTHER – NO DAIRY

9 Granarolo - for internal use only Existing business Innovation

FATTURATO FATTURATO TOTALE 2020 TOTALE 2020 542 75 Mln/Euro Mln/Euro

Fatturato Fatturato Sell-out Sell-out

Perimetro GDO Italia – Dati Sell Out Fonte IRI

10 Granarolo - for internal use only F&B Company Ranking in Italian retail channel TOP PLAYERS FOOD & BEVERAGE ITALY*

*Source: IRI Infoscan Totale Italia ISLSP – Rolling year January 2020 – Data in mln€

11 Granarolo - for internal use only A big focus on INTERNATIONAL SALES TRENDS foreign countries

THE GRANAROLO GROUP HAS SUCCESSFULLY 4%

MOVED IN TO INTERNATIONAL MARKETS 96% NET SALES OVER THE LAST 8 YEARS FY 11

ITALY ABROAD

33% NET SALES FY 20

67% ITALY ABROAD

12 Granarolo - for internal use only Revenue weight: Italy, Europe & ROW

REVENUE BY MARKET 2000 2011 2015 2020 98% 96% 80% 67%

1% 3% 17% 28%

1% 1% 3% 5%

515 mln€ 845 mln€ 1,087 mln€ 1,280 mln€

13 Granarolo - for internal use only Granarolo market Scandinavian Area Belgium and Luxembourg share in Europe Categories Ranking Fresh cheeses 1st/2nd Categories Ranking Italy nd Fresh cheeses 2 Lithuania / Estonia / Latvia France Categorie Ranking Fresh milk 1st Categories Ranking Fresh cream 1st Fresh cheeses 1st Categories Ranking UHT milk 2nd Hard cheeses 1st Yoghurt 3rd 1st Fresh cheeses 2nd 2nd Vegetable products 3rd Italian 2nd Romania 1st

Categories Ranking Spain Fresh cheeses 1st

Categories Ranking Greece Fresh cheeses 3rd

Categories Ranking Fresh cheeses 1st

14 Granarolo - for internal use only Granarolo in the world

15 Granarolo - for internal use only Granarolo sells in 76 countries worldwide

EUROPEAN 36 COUNTRIES

OVERSEAS 40 COUNTRIES

16 Granarolo - for internal use only Financial highlights 2020

SALES EBITDA NET DEBT DEBT /EBITDA

-3% +8% 1,280 vs. p.y. 79 vs. p.y. 164 2.1x Mln / Euros Mln / Euros Mln / Euros -46 mln € in FoodService channel due to Covid19

EBIT NET PROFIT EQUITY DEBT / EQUITY

+2% +19% 28 vs. p.y. 16 vs. p.y. 221 0.74x Mln / Euros Mln / Euros Mln / Euros

• Consolidated Financial Statements • IFRS Standards

17 Granarolo - for internal use only Sustainability Development Goals

REDUCTION OF PLASTIC, HEALTHY FOOD AND CO₂ AND FOOD WASTE ANIMAL WELLBEING § Reduce C02 emission and C02 § Increase our score in Animal compensation welfare certification § New packaging materials to avoid § Promote healthy diet, launching plastic usage (eg. paper, RE-PET new functional products with less ecc.) fat, sugar and salt to meet specific consumer needs

GUARANTEED QUALITY PROJECTS TO SUPPORT OF THE SUPPLY CHAIN THE COMMUNITY § Reduction of the environmental § Promoting and expanding our impact of the supply chain starting Donated Human Milk Bank of from the farm Bologna (Italy) § Fertilizer reduction, cogeneration, § Africa Milk Project (Tanzania) water reduction, waste reduction § Africhand Project (Mozambico) § Development of e-commerce § Creating new projects su support platform to reach all consumers the community

18 New milk bottle with reduced plastic

#REDUCED PLASTIC -16% of plastic versus previous fresh milk bottle

#INNOVATIVE CAP

To avoid dispersion in the environment, it opens with a click and remains anchored to the bottle, (anticipating the European directive 2024) #RECYCLED PLASTIC

25% of the bottle is recycled plastic from February 2021

19 New fresh cheese packaging with reduced plastic MOZZARELLA 50% recycled plastic from April 2021 RICOTTINE -19% of plastic -9% of plastic II° semester 2021 from April 2021

20 New yogurt paper cup with reduced plastic

100% recyclable 1.001 tons of CO₂ saved per year 738.000 kg of plastic saved per year

2020 2021 - H1 2021 – H2 2022

PAPER CUP TIMING

First step Second step Third step Fourth step

21 PRODUCT PORTFOLIO Traditional italian fresh cow milk cheeses

Fresh, white and creamy Delicious milky and Delicate taste, light Original Italian mozzarella, Mascarpone, the only creamy cow milk consistency and supremely fresh with one approved by the stracchino: the Italian creaminess are the secrets smooth texture and pure Academy of Italian spreadable surprise of an excellent Ricotta white color. Master Pastry Chefs Fresh Mozzarella lower moisture

Italian mozzarella with lower moisture level, ideal for cooking, pizza, sandwich or other preparations. Available in block, vacuum pack, slices and julienne for retail and foodservice. Fresh Mozzarella di Bufala Campana PDO

The famous mozzarella produced exclusively with buffalo milk in the designated PDO area of origin and is created following the stricted regulations of the PDO Consortium. Gusto di una Volta

With Granarolo Gusto di una Volta you can discover the old taste of Italian tradition. Granarolo Gusto di una Volta will surprise you with its goodness. Discover the rich taste and full-bodied flavors of the past! Oggi Puoi

Discover Granarolo mozzarella Oggi Puoi: all Granarolo taste with -30% salt and -50% fat than the market average. In addition, it is made with 100% Italian milk!

A varied and balanced diet and a healthy lifestyle help you live better. Organic

A full range of Organic dairy products, produced only with milk coming from the Granarolo Group organic farms. Quattrocento

QUATTROCENTO More than 400 liters of Italian milk, directly from our farmers… made with passion, wisdom and experience. From an excellent milk, a great goodness. The famous Italian PDO cheeses

Parmigiano Padano P.D.O. Reggiano P.D.O. Romano P.D.O. P.D.O. full flavored non spicy full flavored cheese sheep cheese with a dry typical veined Italian blue cheese with a crumbly with fragrant taste and granular texture, a strong cheese originally from and grainy structure. unmistakable aroma. taste and intense flavor. the town Gorgonzola, near Milan PODDA Sardinian Specialties

Il Classico Il Classico Semi-Aged Aged

Produced from a mix of cow Produced from a mix of cow and sheep’s milk, with a and sheep’s milk, with fruity pleasantly mild, delicate taste. aromatic notes AMALATTEA goat milk cheeses

La Prima Testadura Fiordicapra Il Saggio Ricotta Tenerina

100% pasteurised goat’s A tasty cheese made 100% goat’s milk, Its “ageing” gives an Salty Ricotta, white in milk with a soft white from goat’s milk, full with a naturally intense flavor, colour, typical of cheese paste and pleasant taste. of flavor, mildly sweet aromatic flavor and a produced only with made with 100% goat’s and aromatic. slight hint of grass. goat’s milk. milk. FATTORIA BRENTINE raw sheep milk cheeses

Contradaiolo Cacio Vecchio Marzolino Pepper Pecorino Black Pecorino Truffle Pecorino PDO & PDO Aged it has a compact It has a compact paste A soft cheese with Raw sheep milk cheese Soft cheese, with a mild Made from raw sheep yet buttery paste and decisive flavour a mild, fragrant covered with a thick yet sharp taste, milk, it is flavoured with Produced in Tuscan region and a mild taste with aromatic notes. paste and snowy crust of ground black produced from raw tiny shavings of truffles. and aged for min 60 or 120 that conceals a Excellent eaten on its white colour, pepper. A pleasant sheep milk. Perfect Ideal accompanied with days. It’s a cheese with a slightly sharp vein own, together with a 100% made from contrast between mild with cold cuts and cured meat and a good milky and mild on the palate. full-bodied red wine. raw sheep’s milk. and spicy. seasonal vegetables. red wine. Cheese Snack

100% REAL CHEESE –PREMIUM QUALITY 100% NATURAL - OVEN BAKED –NOT FRIED HIGH CONTENT OF GOOD PROTEINS, CALCIUM & PHOSPHORUS GLUTEN FREE, LACTOSE FREE, SUGAR FREE, YEAST FREE, NO ADDED PRESERVATIVES IQF Frozen Cheese The freezing IQF technology preserves the taste and the soft texture of the fresh Italian cheeses, with a long shelf life. Italian mozzarella in different cuts (crumble, cubes, shredded..), and today also Ricotta and Stracchino, to offer the real and original Italian cheese all over the world! Frozen Mozzarella &

A range of Frozen dairy products, frozen as they are, in order to bring the Made in Italy all over the world. The freezing technology preserves the taste and the texture of the fresh product. UHT Milk & Cream

UHT MILK • Practical package of 1000ml with re-sealable cap UHT WHIPPING & COOKING CREAM • Packed with UHT technology, which guarantees long life • High performance cream for an optimal and perfect preservation until consumption versatility in cooking and pastry • Package of 200ml with straw - ready to drink • Different flavours: chocolate and white milk • Ideal for incorporating, whipping, decorating and sauces Granarolo Expert UHT Cream and Butter

Professional Whipping Cream and Butter - High performance in pastry and baking

UHT whipping creams specifically designed for pastry chefs, with 35% or 38% of fat and excellent firmness. High quality butter from centrifugued cream, ideal in baking or for croissants and puff pastry. Gplus milk drink Lactose-free products

Enjoy every day, with a wide range of lactose-free products, delicate and tasty, like the standard Granarolo products. Baby Milk

A balanced and high-quality range of Baby Milk, re-sealable and ready to use to help the babies grow on their first years. Granarolo has recently signed a partnership with Ofmom for asian market. The aim of this collaboration is to develop an innovative product, based on the excellence of Italian integrated supply chain and know-how. Italian Yogurt

A wide range of the true Italian yogurt, in differents formats and flavors for all the family. Dairy-Free drinks

100% Plant based and dairy-free, healthy and natural. Ideal for vegetarian and vegan diet. Made with Italian soya, rice, almonds and hazelnuts. Dairy-Free Yogurt

100% Dairy-free, healthy and natural yogurts Ideal for vegetarian and vegan diet.

SOYA BASED COCONUT BASED Meat alternative Burger

Unconventional Burger is a 100% Plant based burger juicy and tasty. 17 Grams of plant based protein for each burger and a whole of lot of deliciousness Italian Pasta

Made in Bologna, the world capital of egg pasta. High protein durum wheat, bronze extruded. A full range of short and long semolina pasta and egg pasta