Presentation Piet Boer, Chairman Supervisory Board November 2015 11.3 billion 22.168 euro revenue employees

Facilities in Export to over 32 countries 100 countries

19,054 Every day member dairy farmers Millions own the Company of consumers

Figures 2014 1 FrieslandCampina brands

2 Worldwide

Europe Asia and Germany Oceania Africa and the Middle Hungary East Singapore Romania Russia North and Myanmar France Ghana Vietnam Spain South Ivory Coast Italy America United Arab China Austria Emirates United States United Saudi Arabia India of America Kingdom Egypt Japan Brasil New Zealand 6,768 361 1,241 2,978 revenue * revenue * revenue * revenue * 13,371 163 1,060 7,574 employees employees employees employees Figures 2014 71 6 6 32 3 * in millions of euros locations locations locations locations Founding of Founding of Friesche Vlag, Founding of Merger of Coberco, Acquisition Friesland Acquisition of Arnhemse CCF in Dutch Baby and Coberco in Friesland Dairy Foods, of Nutricia Foods Alaska Milk Melk- Leeuwarden Bonnet Rouge Zutphen De Zuid-Oost-Hoek and Dairy & receives Royal Corporation inrichting are registered Twee Provinciën Drinks designation Philippines for international Group on its 125th markets anniversary 2012 1879 1913 1919 1965 1997 2001 2004 2020 We have a long 2008 2013

Acquisition of 2014 Zijerveld and Veldhuyzen B.V. and history… G. den Hollander Holding B.V. Acquisition Olam Ivory Coast and Acquisition of IDB Belgium N.V. DEK srl in Italy. 1880 1926 1947 1979 1989 1993 2001 1871 Founding Campina Melkunie

Nine farmers take Founding of the first Founding of Campina brand DMV Campina Acquisition International launch of over a dairy co-operatives the De Meijerij introduced and Melkunie of Sudmilch formation of international cheese factory in Veghel / De Holland (Heilbronn) Campina brand the Dutch Melkindustrie introduced and co-operative 4 Wieringerwaard Veghel Governance & value creation 19,000 ambitious member farmers are the owners of FrieslandCampina

6 13,696 member dairy farms

7 The Company is owned by the Cooperative

holding all Zuivelcoöperatie shares in FrieslandCampina U.A.

Members

Districts

Royal Member Council FrieslandCampina N.V. Chairmen’s General Meeting of meeting* Shareholders

Board

Supervisory Board

Executive board *The Chairmen of the 21 District Councils

8 In order to valorise the milk supplied

Profitability

The objective of a business with no member milk is to generate profit above our EBIT hurdle Member milk usage

The objective of our member milk intense businesses is to valorise milk at positive EBIT margins 9 10 Net income based on the guaranteed price

11 Value creation

Performance premium + member bonds

Per 100 kilo milk 4,22

3,04 2,93

2,37 1,96 1,83

0,94

2009 2010 2011 2012 2013 2014 1e halfjaar 2015

12 Development growth and value creation

11,348 Revenue 11,281 Value creation in millions of euros 10,309 Performance premium + member bonds 9,626 8,972 Per 100 kilo milk 3.04 2.93 8,160

2.37

1.96 1.83

0.94

2009 2010 2011 2012 2013 2014 2009 2010 2011 2012 2013 2014

13 Foqus planet We must deliver on three pillars for continuity

Quality throughout the chain Be 100% reliable: crucial for our market positions

Transparency Demonstrably meet the requirements of supervisory and monitoring agencies, countries and customers

Sustainability and outdoor grazing Secure support by customers, politics, and society at large We manage the sustainable dairy industry

Climate & Animal health Biodiversity & Outdoor Energy and welfare environment grazing Foqus planet: the basis for quality and a save and sustainable dairy chain

Distribution

Packaging

Processing

Transport

Milking

Feed and health

‘From grass to glass’ The renewed Foqus planet programme has a clear design

Basic requirements

Outdoor grazing

Sustainable development

18 Basic requirements: requirements which must be met

Basic requirements

Requirements which Basic requirements consist of must be met • essential requirements • standard requirements

The basic requirements relate to the hygiene, quality and safety of milk, feed and water as well as animal health and welfare Target outdoor grazing: 81 per cent, level of 2012

Outdoor grazing cow is part of the Dutch culture landscape Outdoor grazing and is valued greatly by society and consumers Important because valued by society and the market Towards 81 % outdoor grazing • Enshrined in Covenant Grazing and Sustainable Dairy Chain • Retention for all members: 0.35 euro per 100 kg milk • Outdoor grazing supplement: 1.00 euro per 100 kg milk • Partial outdoor grazing supplement: 0.46 euro per 100 kg milk Sustainable development: working systematically towards 2020 sectoral objectives

Approach Sustainable development • Reward results with Continuous Foqus planet supplement improvement of results • Six indicators with measurable results

Three themes • Animal health and welfare • Biodiversity and the environment • Climate and energy Performance is measured for each indicator

Results on the farm determine the points scored Thank you!