Royal WessanenA leading player in organic food in Europe

An introduction to who we are,what we do

and where we stand for

September2012

www.wessanen.com @RoyalWessanen

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In a nutshell

A leading European organic food player

Own operations in Benelux, France, Germany, Italy, UK + export operations

Pioneering brands | indulgence & nutritional

Well-managed supply chain | Strong focus on quality, innovations, brands

Factories in UK (tea), Germany (vegetable spreads) (cereals/bars/spreads/honey) and Italy

(soy drinks)

Turnover about €600mln (2011) | 1,600 employees

Organic food market

Attractive part of food market | growing | low per capita consumption | market size €21bn

No colouring/flavouring | GMO-free | no artificial fertilisers | animal health

Unique certification system | grown and processed according to EU regulation

2011 revenue €594 mln

19%

41%

40%

3

GroceryRevenue €244 mlnNorm.EBIT €18.0 mln

Frozen FoodsRevenue €113 mlnNorm. EBIT €2.3 mln

HFS (Health Food Stores)Revenue €248 mlnNorm. EBIT €5.0 mln

Non-allocated & eliminationsRevenue €(11) mlnNorm. EBIT €(11.5) mln

Discontinued operations ABCRevenue $... mlnNorm. EBIT $... mln

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Wessanen FY2011 overviewRevenue

244

248

113

Grocery HFS FF

EBIT before exceptionalsexcl non-allocated

18,0

5,0

2,3

Grocery HFS FF

FTEs (at year end)

379

639

501

63

Grocery HFS FF HQ

Average Capital Employed

63

84

51

11

Grocery HFS FF HQ

€589mln €14mln

1,582 €208mln

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Content

Page

6. What is organic? / markets

9. A rich history

11. Our Vision, mission & strategy

15. Strategic objectives 2012-14

23. Our business principles / sustainability

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What is organic?!

Strict criteria to be allowed to be labelled organicDemonstrably free from GMO, pesticides and growth hormonesStrict rules on animal welfareSevere restrictions on fertilisers, herbicides and pesticidesSevere restrictions on additives and processing aids

All about being produced and processed in line with organic principles

Organic products promote health and well-being

Holding benefits for the planet and for future generations

All about nutrition and taste !

Organic food is controlled by a unique European certification system

At Wessanen, our vision is to make our organic brands most desired in Europe

“Sustainability is an essential and

natural part of our daily work.”

Attractiveness organic food markets

European organic food an attractive, growing segment Size €21 bn; 2011 growth around 6% <3% of total European food market

Increasing consumer appreciation

Still low per capita consumption

European Union €30 p.a.

Switzerland €150, Denmark €140, Austria €115, Sweden €85

Germany €75, France €55, Netherlands €50, Belgium €40

UK €25, Italy €20, Spain €15

Consumers increasingly convinced of benefits of organic foodregarding health, taste and environment

Grocery and Health Food Stores channels developing at different growth path Decline percentage of households shopping in HFS channel in

the Netherlands halted

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8

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A long and rich history

1765 - Incorporated around river De Zaan

Adriaan Wessanen started to trade in mustard, canary and other seeds

Around 1910 introducing first consumer products such as

oatmeal and cocoa

1913 - Distinguished title Royal (99 years !)

1959 - Listed on Euronext Amsterdam

2009 - Strategic reorientation focus on organic food in Europe

2012 - To make our organic brands most desired in Europe

2015 - Marking 250th anniversary of Wessanen

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Transformation 2009-12

0

400

800

1200

1600

2009 2010 2011 2011 Pro Forma

KK, LR, Righi, PANOS

TOL NA

ABC *

Frozen Foods

Kalisterra

Tree of Life UK

Clipper (March '12)

Health Food Stores (HFS)

Grocery

1010

712 706

1,586

As of 2009: focus on organic food in Europe

694

In € mln

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Our Vision

“To make our organic brands most desired in Europe”

GROCERY HEALTH FOOD STORES

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Our Mission

“Our organic food, your natural choice”

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Brands

Three business models

DescriptionDescription

Sourcing/developing, marketing and selling own brands

• Including distribution to distribution centers and/or stores

Countries, Brands & EntitiesCountries, Brands & Entities

France: BjorgBenelux: Zonnatura, Biorganic, MerzaUK: Clipper, Kallo, Whole EarthGermany: Whole Earth, Culinessa, BjorgItaly: Bjorg, Efficance

Sourcing/developing, marketing and selling own brands to HFS

• Via wholesaler in Germany• Direct to stores (France, NL)

France: Bonneterre, EvernatNL: Ekoland, De RitGermany: Allos, Tartex, De RitBrands

Sourcing, category management, sales and distribution to HFS stores

• Focus on full range (ambient and fresh) of products

• Focus on high share of products per store

France: Bonneterre, BiodistrifraisNL: Natudis, KroonBelgium: Hagor

Whole-sale

BusinessBusiness

Gro

cery

Healt

h F

ood

Sto

res (

HFS

)

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Driving our brands in 2 channels

Profile

Developmen

Opportunity

WessanenFocus

Health Food Stores Grocery

Small – independent - large exclusively organic assortment

Concentration - modern formats

Attract & activate mainstream consumers - innovative concepts

Professional chains - organic core assortment

Dedicated shelf results in strong growth

Build credibility and profile through strong organic ranges

i) Building powerful brands - large ranges -moving from push to pull marketingii) Wholesale (NL, BEL, FR)iii) Retail formulas (NL)

Focus on fewer, bigger brandsAggressive growth - powerful in-store marketing

All countries

Profile

Development

Opportunity

Our Focus

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Content

Page

6. What is organic? / markets

9. History

11. Vision, mission, strategy

15. Strategic objectives

23. Business principles / sustainability

Strategic objectives 2012-14

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Strategic focus Activities

Topline growth • Grow core brands

• Grow core categories

• Build strongholds in new markets

• Country specific growth strategies

• Launch fewer, bigger, better innovations

• Execute acquisitions shortlist

Profitability

improvement

• Central sourcing savings

• Pricing strategies towards customers

• Improve operational excellence with SAP

• Filling own factories

Enablers • Improve talent performance management / building connected

leadership

• Simplify how we are conducting business

• Activate Organic Expertise Centre (OEC), integrate Quality

Strategic objectives 2012-14

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Strategic focus Activities

Topline growth • Brand activation e.g.

• Bjorg during ‘Atelier bio’ weeks in France

• Gayelord Hauser

Atelier bio nut Leclerc Albi

Strategic objectives 2012-14

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Strategic focus Activities

Topline growth • Brand activation e.g.

• Ekoland in Amsterdam area

Atelier bio nut Leclerc Albi

Strategic objectives 2012-14

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Strategic focus Activities

Topline growth • Category innovations e.g.

• Bjorg tea

• Zonnatura Kikker and nut bars

• Whole Earth chocolate spreads

• Ekoland fruit juices

Strategic objectives 2012-14

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Strategic focus Activities

Topline growth • Acquisitions (Clipper)

• Assortment line-up and brand activation

• Preparing for European roll-out in early 2013

Clipper ‘Congo’ TV adaired in spring

Strategic objectives 2012-14

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Strategic focus Activities

Profitability

improvement

• Gross margin improvement - in particular in Grocery - both in 2011

and 2012

• Deployment of SAP in France, the Netherlands, UK

• Germany and Clipper planned for

• Filling the factories in Germany with product categories such as

breakfast cereals and pasta sauces

Strategic objectives 2012-14

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Strategic focus Activities

Enablers • Leadership programme in first half 2012 for top-65 of Wessanen

• Practical toolbox to accelerate the execution of the strategy

• 4 CBT teams to boost innovations

• Organic Expertise Centre up-and-running

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Content

Page

6. What is organic? / markets

9. History

11. Vision, mission, strategy

15. Strategic objectives

23. Business principles / sustainability

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Wessanen business principles

Compliance with laws: being a responsible partner in society, acting with integrity towards all stakeholders and others who can be affected by our activities

Environment: in line with commitment to sustainable development, we will do all that is reasonable and practicable to minimise adverse effects on the environment

Product safety: we aim at all times to supply safe products and services

Free market competition: we support free market competition as basis of conducting business; we observe applicable competition laws and regulations

Child, bonded and forced labour: under no circumstances we are making use of forced or bonded labour; we do not employ children in violation of relevant conventions of ILO

Human rights: we support and respect human rights and strive to ensure that our activities do not make it an accessory to infringements of human rights

We expect suppliers and business partners to comply with the above principles

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Commitment to minimise environmental impact

Committed to minimising impact on environment by measuring and monitoring the effects of our operations

All our organic products are free of GMO

We are working on reducing our CO2 footprint and usage of water

Additionally, organic products do not use pesticides, therefore contributing to a decrease

ISO 14001 is an internationally recognised standard for embedding processes to analyse and reduce our impact on the environment

Additional information at www.wessanen.com on

sustainability, such as

GRI G3 table | Performance fact sheet

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Wessanen’s supply chain

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Palm oil - member RSPO

Palm oil is important, versatile raw material for food

Only be cultivated in tropical areas of Asia, Africa and South America

Concerns that demand causing expansion of plantations into eco-sensitive areas

Since March 2011 Member of Roundtable on Sustainable Palm Oil (RSPO)

Global multi-stakeholder initiative

Encouraging sustainable production/use palm oil

Wessanen commits to organisation’s objectives

In 2011, we developed policy to govern palm oil sourcing and guidelines for implementation in

partnership with our suppliers

Committed to switching palm oil to RSPO certified sustainable palm oil during 2012-13

RSPO certified segregated palm oil for organic

GREEN PALM certificates for conventional

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Organic Expertise Centre (OEC)

Establishment internal expertise center - named OEC - in 2010 To stimulate exchange of knowledge / experience that is widely available

within Wessanen To educate and inspire our internal / external stakeholders in organic values

Specialists join forces and work on pan-European issues

To legitimise our position in organic world by championing the organic case

Focal areas will be: Training (incl. training package for newcomers)

Knowledge building by teaming up with external researchers and experts

Lobbying to promote organic food

Communication for more general awareness / knowledge of organic food

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Employee engagement WEacademy

2012 Leadership development programme Focus on strategy execution, connected leadership

Employee turnover is a key focus area

Competency model deployed Defines behaviour expectations for all employees Translates ambitions/values into behaviour

conventions and skills

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2009 2010 2011

Injury severity rate

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50%

75%

100%

Executives Managers Associates

Men Women

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2009 2010 2011

Injury frequency rate

Royal Wessanen nv