Baking Ingredient Category Recommendati Bedrock Storyboard The Baking

Baking Ingredient Category Recommendati

Bedrock Storyboard™ The Baking Ingredient Category’s Growth is Driven by Premium, yet it is only 5% of the Category Latest 26 weeks, Baking Ingredients +3. 1% is driving overall category growth +0. 6% Baking Ingredient segment continues to accelerate $ growth throughout the year Our Brand’s growth is driven by Kroger and distribution gains at Walmart Excluding gains seen at Walmart and Kroger Brand is underperforming across all periods Premium brands are driving dollar growth through their premium price point Premium brands are taking share from Our Brand over time Baking Ingredient is being driven by Private Label (Seneca) and Luxardo Our Brand declines in markets where Premium is growing in distribution Bedrock summarizes its findings and gives its recommendation to launch premium offering Luxardo is the largest contributor to dollar growth while Seneca is driving unit growth Premium Ingredients are contributing 2 x the growth versus non-premium baking ingredients

L 52 W at Total US XAOC Baking Ingredients +1. 8% $ vs YA is being driven by PL +1. 0% and Brand X +52. 5% • While we have a dominant share of the baking ingredients category, the growth is with premium brands • Premium has limited market shares, yet retailers are dedicating significant shelf space to this small segment $59, 9 M $58, 7 M MARASCHINO - SENECA FOODS MARASCHINO - PRIVATE LABEL +0, 8% +1, 0% TOTAL US XAOC | BAKING | Total $ Sales $4, 9 M $2, 0 M ALL OTHER MARASCHINO - LUXARDO -2, 2% +52, 5% $1, 1 M MARASCHINO - CHERRY MAN $0, 9 M- TILLEN MARASCHINO FARMS MARASCHINO $0, 7 M- REESE MARASCHINO $0, 1 M- WHITE SWAN +0, 6% +11, 1% +5, 2% -44, 5%

Through Incremental Activities (Trade / Marketing) Our Brand drove a 25% lift in $ sales during the holiday season. A $300 K increase! Driven by marketing programs, Brand. A had 25% lift in $ sales versus YAGO during the season $1 000, 0 K Base $ Sales vs Incremental Sales at Safeway Base $ Sales $1, 95 Incr $ Sales Avg Price $1, 92 $1, 88 $2, 00 $1, 88 $900, 0 K $1, 90 SAFEWAY CORP TOTAL | KEY BAKING BRAND | Total $ Sales 08/11/2018 08/04/2018 07/28/2018 07/21/2018 07/14/2018 07/07/2018 06/30/2018 06/23/2018 06/16/2018 06/09/2018 06/02/2018 05/26/2018 05/19/2018 05/12/2018 05/05/2018 04/28/2018 04/21/2018 04/14/2018 04/07/2018 $1, 00 03/31/2018 $0, 0 K 03/24/2018 $1, 10 03/17/2018 $100, 0 K 03/10/2018 $1, 20 03/03/2018 $200, 0 K 02/24/2018 $1, 30 02/17/2018 $300, 0 K 02/10/2018 $1, 40 02/03/2018 $400, 0 K 01/27/2018 $1, 50 01/20/2018 $500, 0 K 01/13/2018 $1, 60 01/06/2018 $600, 0 K 12/30/2017 $1, 70 12/23/2017 $700, 0 K 12/16/2017 $1, 80 12/09/2017 $800, 0 K

Baking Sales Gap Occurs every Xmas & Easter = Holiday Baking Season Turns for production of GF are not feasible for Brand’s velocity requirements $1, 2 M $953 448 $1, 0 M $0, 8 M 6 x $0, 6 M GLUTEN-FREE BAKING WHOLE GRAIN BAKING $348 581 $0, 4 M 4. 5 x $161 283 $0, 2 M $153 977 $78 431 Weeks 12/09/17 - 08/11/18 | Total Retail TA | BAKING INGREDIENTS| 1 Comparison Products | Total $ Sales 08/11/2018 08/04/2018 07/28/2018 07/21/2018 07/14/2018 07/07/2018 06/30/2018 06/23/2018 06/16/2018 06/09/2018 06/02/2018 05/26/2018 05/19/2018 05/12/2018 05/05/2018 04/28/2018 04/21/2018 04/14/2018 04/07/2018 03/31/2018 03/24/2018 03/17/2018 03/10/2018 03/03/2018 02/24/2018 02/17/2018 02/10/2018 02/03/2018 01/27/2018 01/20/2018 01/13/2018 01/06/2018 12/30/2017 12/23/2017 12/16/2017 $0, 0 M 12/09/2017 $89 420 2 x