Bonduelle : Investors and analysts presentation

2023-2024 Half Year Financial Results

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Message from Xavier Unkovic

Financial Performance

Outlook

Appendix

• MESSAGE FROM XAVIER UNKOVIC

• Parcours Xavier + Photo
• Organigramme Comex

Xavier Unkovic

Bonduelle Group Chief Executive Officer since June 1, 2023

"In a highly challenging economic and financial environment, the road to progress has begun, the first half year is encouraging"

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Plant-rich food is at the heart of social realities

BUDGET & HEALTH

are the 2 main reasons for eating less meat and fish

(2023 Ipsos study for Bonduelle - 10 countries)

Climate and food are on the global agenda

68%

of consumers are flexitarians

(2023 Ipsos study for Bonduelle - 10 countries)

54%

of consumers believe contributing to a better world through their diet

(2023 tetra pack index)

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Our mission is aligned with this new reality

"We inspire the transition toward a plant-richdiet, to contribute to People's well-being and Planet health"

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1	Our strategy has a
	field to plate

positive impact from

88%*

Target >90

• long-termpartnership with our farmers resulting in 88% of contracts renewal

193% of revenue is generated by * complete meal solutions

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The use of virgin fossil plastic decreased by

Already 37%*

2/3 by end of 2024

-37%*

VS 19/20 Target -100% in 2030

Target : 100% of the group certified

• B Corp™ by 2025

* Fiscal year 22/23

• We show resilience in a difficult inflationary and climatic context

Eurozone food inflation remains 4.6% higher than general inflation at the end of 2023

It has a dual effect:

A lower consumption and a move downmarket

Climatic events have a significant impact on the availability and quality of fresh products

	Inflation effect
Food inflation
Global inflation
4.6%	Volume effect
	Up/down
	market

Source Euronews

Source NielsenQ Scantrack HMSM - Proxy PGCFLS France

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de 2.95 to 3.45€*

3.40€ - 3.50€*

2.15€ - 2.39€*1.99€ - 2.15€*

1.15€ - 1.35€*

* Average consumer shelf price

Our categories remain affordable despite a historical inflation level

2023

Energy : +35%

Agricultural raw materials : +50%

Packaging : +52%

2021

Internal source: average increase in purchase prices for Europe on cans and agricultural raw materials, for France on energy.

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• We improve our competitiveness in the field and in our plants

Development of Pulses sector :

• Relocation of crops in France: doubling of surface area by 2025
• Development of semi-fresh products to enhance

consumer experience
- Optimization of industrial processes	10

Turnaround in North American activities:

Adaptation of the industrial set up and improvement of competitiveness