Mizkan and Exceedra:

Our first anniversary 10th October 2018

1 Who are Mizkan?

• Matazaemon Nakano began producing vinegar from sake 1804 - 1884 Lees in Handa, Japan Taste • In 1884, the Mizkan logo was trade marked Tang 1981 • Acquisition of American Industry Vinegar Aroma 2002 • Acquisition of Manor Vinegar

2005 • Acquisition of Holland House & World Harbors

2011 • Acquisition of Border Foods into MA Offer customers • Acquisition of Sarsons, Haywards, Dufrais only the finest 2012 • Middleton sites from Premier Foods products • Acquisition of Branston & Bury St Edmunds 2013 • Mizkan Euro formed Continuously 2014 • Acquisition of Ragu & Bertolli challenge the status quo • Mizkan is a £1.8Bn global food corporation focussed on Today bringing flavour to life!

2 Mizkan Group – The global business is structured across 3 areas FY2017：Mizkan Group total Sales Revenue £1,834M

5% 50% 45%

NET SALES NET SALES NET SALES FY17= £106m FY17= £914m FY17= £819.0m

* Excludes Co-pack

•＆ •Vinegar Vinegar Ponzu •Pasta Sauce (citrus & soy sauce- based condiment)

•Cooking Wine Soup base Natto (fermented soy bean) •Pickled vegetables •Vinegar

FX Conversion Rate = USD1.52/GBP = JPY182.96/GBP 3 Our UK Portfolio: Livening up every meal occasion Expertise in Vinegar and Condiments

• Our brands:  Sarson’s, Haywards, Branston, Mizkan • Our manufacturing expertise areas:  Sweet Pickles  Table Sauces  Vinegar  Pickled vegetables  Relish  Chutney  Salad Cream   Cooking sauces  Sushi Seasonings  Gravy browning  Worcester sauce • Co-pack partners  Loyd Grossman, Sharwoods & Homepride for 15 yrs (to 2028)

4 Strategic Business Units

Japanese Retail Foodservice Brands Products Private Label

B2B Co-Pack Food Ingredients Manufacture

5 Our journey…

2012-13 2013 – 14 2015 2016-2018 Set up & re- Transact & Disinfect & Grow! engage Understand Rebase

6 Our S&OP Process prexceedra

FC Month End Reporting Gap closing Activity Planning freeze

Total Rough cut capacity planning Customer Channel Demand Aggreg’d Volume Site S&OP Sales & & Sales S&OP Reviews Demand Review Mtg Operational Operational Cash Up & Creation & circ’n of Mtg Mtg Planning (S&OP) Planning S&OP Templates

• Excel based • Couldn’t have forecast and actuals on same file • Forget about EPOS! • Cash up in a file with 17(!) tabs • Cash up takes 5 working days • BUT: in 2016 we achieved 71% forecast accuracy

7 Our engagement…

We got engaged: One year in: First date: 28th August 2016 10th October 2018 th 10 November 2013 The big day: 10th July 2017

8 The Engagement…

• Kick Off: 4/10/16

• System design: October/November 16

• System build: Dec 16 – April 17

• Testing and Training: May/June 17

• Final amends: June 2017

• Go live: 10th July 2017

9 System Design Workshops

• Full or half day workshop sessions

• Truly X functional team: Exceedra, Commercial, IT, Supply Chain, Commercial Finance

• Consisting of:  Kick off and WOWs (1/2 day)  Data Analysis (2x ½ days)  Forecasting Analysis (1 day)  Terms Analysis (1/2 day)  System Configuration (1/2 day)  Reporting (1/2 day)  CCD and Interface Document Review (1/2 day)  Promo Analysis (1 day)  Calculations Demo (1 day)  UAT script Design (2 days)

10 User Acceptance Testing

Fix Fix Fix

Week 7: Final Week 1: Test Week 3: Test Week 5: Test System Sign Off

11 Our Business Planning System: 2 parts Demand Planner & Sales Planner

Demand Planner Sales Planner – 9 modules

Base Volume Promotions Terms Conditions Statistical Entering & building Entering investment Planning costs and Forecasting Promotions terms & agreements pricing changes

Planning Schedule Scenarios Total Volume Planning Viewing FC & Actuals Viewing promo plan & Creating & modelling from Demand Planner terms scenarios

Management Analytics Canvas Supply Chain Adjustments Reporting Customised Reporting Standard Reporting S&OP adjustments

12 What has Exceedra done for us?

• Exceedra support our Sales & Operational Planning (S&OP) Process • It provides an integrated approach to support  Demand Forecasting  Promotions Management  Cash Up  Reporting • The benefits include:  Reduction in manual processing & shift from spreadsheets  Improved forecasting accuracy taking account of cannibalisation and post promo dips  One version of the truth  Formalised & controlled business process with e-approval  Instant cash up allowing for earlier identification of gaps and implementation of remedial actions  Forecast accuracy at 76%

13 Our S&OP Process Post Exceedra

Month End FC Gap closing Activity Planning Reporting freeze

Total Rough cut capacity Business Site Customer Channel Aggreg’d Demand planning Unit Review S&OP Sales & & Sales S&OP Demand Reviews Demand Review Meeting Mtg Mtg

Operational Operational Mtg Planning (S&OP) Planning

• 24 active users • 6 super users • Quick and easy scenario planning for ‘what if?’ analysis • Instant cash up! • Easy tracking against forecast, budget and prior year • Full sign off process for promotions and trade investment • Statistical forecasting tool with EPOS feed • Full business unit, account and brand P&Ls

14 2018 and Beyond… Develop a value creating mindset through Net Revenue Management

Review of Review of Promo Ongoing Structured Guidelines review of terms RRSP & TLP

Review of Net Revenue Review of Strategic Management Price investment Driving a ROI Mindset Investment

Review of Customer Cust Promo Choices Promo Investment Evaluation

15 Tips from a Survivor

• Make sure you have 100% cross functional alignment on scope

• Get your Master Data house in order first!

• Customer and Product Hierarchies need to be bulletproof

• Keep a log of exceptions and peculiarities for UAT

• Insist that the system is fully functioning for UAT

• In UAT go through your monthly S&OP cycle end to end

16 Tips from a Survivor

• Test your system feeds thoroughly before launch (ERP/EPOS)

• Get email alerts notifying the overnight feed has succeeded

• Set up Super Users and ensure training is part of the standard induction for new starters

• Having Sales Planner and Procast can cause minor discrepancies

• In the rush to launch don’t underestimate or fudge your data cleanse – you’ll regret it

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