Q4 & FY 2013 resultsAnalyst & investor meeting Amsterdam, 21 February 2014

Agenda

Wessanen: key challenges and priorities

2013 key achievements

Financials

Wessanen business segmentation

Branded ABC Discontinued

Revenue €184 mln(4.3)% growthRoCE 16.1%

Revenue €101 mln(21.9)% growth

RoCE (5.6)%

Revenue € 407 mln2.1 % growthRoCE 14.7%

2013 in a nutshell

Revenue €508.5 mln EBITE €13.3 mln

Branded = 80% revenue‘Wessanen 2015’completed on plan

Organic products 69% Fair trade 54%of coffee, tea, chocolate sold Vegetarian 94%

Our products: 90% respecting our nutritional policies

Wessanen vs the global food challenge

Antibiotics are failing

1bn people obese The rainforest disappears Too many chemicals in food

More food allergies

Soil degradation 9bn people by 2050

We focus on food that is good for people and planet

Michel Granger

What we need to eat to be healthy The environmental impact of food

Our focus

Structural growth of our markets

Healthy & sustainable food

5-7%

20mln vegetarians (est.)

2007 2009 2011 2013 2015E 2017E 2019E 2021E0

10

20

30

40Organic market (in € bn)

5-6% growth p.a.

€23 bn

What we stand for

Sustainable

Food

Organic

Fair Trade

Nutritional

Vegetarian

Our mission: Healthier food, healthier people, healthier planet

Our vision: We are building a European champion in healthy and sustainable food

4 pillars of healthy and sustainable food

ORGANIC FAIRTRADE VEGETARIAN NUTRITION

HEALTHY AND SUSTAINABLE FOOD

We have a house of strong local brands…and room for more

Situation assessment

We have a solid foundation

Organic and health food is a long-term growth market

Trusted portfolio of brands

European infrastructure in place

Our core business is improving

...but value creation still limited

5 sources of value creation

Divest non-core

IZICO and Distribution classified as discontinued

ABC to be profitable again in 2014

Grow market share of core brands

Growing markets with existing solid positions to grow

Activate category expertise centres in 2-3 Wessanen markets (CBTs)

Focus on core brands

Increase A&P investments

Acquire selectively

Healthy and sustainable brands in Europe within our core categories

Small to medium-sized companies

Ensure synergies to increase operating margin

5 sources of value creation (cont’d)

Upgrade operations

Supply chain projects (Logistics); reduction non-quality costs through S&OP

Increase filling rate of factories; run on-going productivity projects

Bundle volumes with portfolio alignment & SKU reduction program

Green & entrepreneurial culture

Run business as one Euro business (as long as it creates value), otherwise local

On-going assessment of operating costs to re-invest in business

Make Wessanen a ‘green place’ to work

2014: improved quality of revenue

Expected growth Branded to be held back by last year of pruning

Core brands and core categories are growing

Portfolio pruning to be completed (e.g. Benelux)

Quality of revenue continues to improve

Wessanen’s operating profit (EBITE) to increase

ABC becoming profitable again

Remainder of ‘Wessanen 2015’ benefits

Additional sizeable step up of investments in marketing

2013 key achievements

2012 2013300

350

400

450

500Revenue

Q4 12 Q4 1390

95

100

105

110Revenue

Branded - key figures

EBIT contributors

Gross margin (%)

Operating costs

Marketing spending 2012 2013

0

10

20

30EBITE

Volume Price/mix Acquisitions Intersegment Currency Reported Wessanen 2015'

Underlying0%

3%

6%

9% Revenue growth 2013

7.3%3.8%

3.5%

+47%

+4.1%

+3.5%

- -

Brand performance

Tactical brands Agency brands Private label

Core brands +3.1%

UK Germany

Category focus is key

Based on French Roll out

Significantly different Quite close to the Vegetarians

VEGETARIANS (no meat, no fish but still consume eggs & dairy products)

FLEXITARIANS/SEMI-VEGETARIANS(eat meat 2 times a week & less).

Very similar

Women, young, high levelClose to average French

population: older, mid level

Ca 7mln 1-2mln Ca 16 mln Ca 28mln

Joint product development and x-country launchRoll-out of existing strong products

Developing deeper consumer insight andcategory expertise

Launch plan for the year overachieved by 30%

Still building distribution and awareness

Clipper roll-out

GERMANYNETHERLANDS FRANCE

Alter Eco - integration on track

#1 Fair trade brand in France

3.5% market share on total organic shelf

Long-term partnerships with 40

cooperatives of independent farmers

6% household penetration / 35% awareness

The Alter Eco meterMeasuring positive impact of products

Rodolfo Cometeros Paime, cocoa producer,ACCOPAGRO Cooperative, Peru

Activation of core brands

TV advertising on substituting palm oil from biscuits - sales uplift of 30%

TV reportage on the 2nd biggest channel (M6) at prime time on Bjorg palm oil substitution

Activation of core brands (cont‘d)

In-store theatre

Trade shows

Cooperation

Focus on core brands in Export

Finland

Lebanon

Chile

Ronald Merckx (CFO)

Financials

New segmentation

New segmentation reflects more accurately the different business models we operate

Branded:

German and French HFS operations (Bonneterre)

All operations previously reported as Grocery

Distribution:

Natudis (Benelux) and Biodistrifrais (France)

Non-allocated

All corporate costs other than shareholder and stewardship costs are charged to the operating segments

Better reflects that our corporate center mainly performs functions on behalf of and for the benefit of these operating segments

ABC- key figures

In € mln Q4 2013 Q4 2012 H2 2013 H2 2012 FY 2013 FY 2012

Revenue 12.4 16.9 40.8 53.7 101.2 128.6

Autonomous growth (21.9)% -

Normalised EBIT (5.3) 0.0 (7.2) 3.9

as % of revenue (13.0)% - (7.1)% 3.0%

EBIT (0.1) 0.0 (2.4) 3.9

Average capital employed 43.1 48.2

RoCE (5.6)% 7.9%

Q4 traditionally a seasonally weak quarter

ABC - performance

Little Hug continued to grow double digit

Brand activation and newly introduced flavours (

RTD frozen pouch segment continued to decline >20%

Daily’s performing in line with market

Daily’s clear market leader (46% in 2013)

Back to profitability in 2014

Numerous actions been initiated

Extend listings at new customers; introduce two new RTD pouch flavours

47%

10%

31%

12%

Little Hug Oth fruit drinksRTD pouches Non-alc mixers

Discontinued operations

In € mln FY 2013 FY 2012

Revenue 183.9 190.7

Normalised EBIT 6.3 0.8

Profit of discontinued operations (net of tax) 4.4 (16.1)

IZICO, Natudis and Biodistrifrais all classified as discontinued operations

Divestment processes has commenced

These are expected to be completed during 2014

Sales process Natudis progressing well

Advanced discussions with Vroegop Ruhe & Co

‘Wessanen 2015‘

Sizeable restructuring has been executed during 2013

Strategic initiatives to increase profitability

Addressing low-yielding activities

Cutting the tail projects

Total Wessanen

In total 250 FTE left

Branded, Distribution, IZICO and head offices

One-off costs €(19.2) million

€(2.6) has been expensed in 2013

Annual cost savings of €15 million from 2014 onwards

Half was realised in 2013

Financials

Tax expenses: FY13 €(14.5) mln vs. FY12 €(3.8) mln€(4.5) mln - write-down deferred tax assets ABC€(2.0)mln - unrecognised income tax losses €(3.3) mln - addition to provision for uncertain tax positions

Depreciation and amortisation €(9.9) mln (2012: €(9.6) mln)

Capex €(5.1) mln (1.0% of revenue) €(5.6) mln in FY 12 (1.1% of revenue)

Non-allocated EBIT€(3.7) mln vs. €(3.4) mln in FY12

Net debt development 2013

54,9 50,737,0

9,1

4,51,7

5,15,0

3,83,6

15

30

45

60

75

Year end2012

Cashinflow

after WC

Provisionexpenses,employeebenefits

Taxes paid Interestpaid

Capex Acq. AlterEco

Dividendspaid

Other Year end2013

Christophe Barnouin (CEO)

Closing remarks

ConclusionSolid foundation in health and sustainable food

…but value creation still limited

5 sources of value creation

• Divest non-core

• Grow market share of core brands

• Acquire selectively

• Upgrade operations

• Green and entrepreneurial culture

2013: Core brands show strong performance

2014: Focus on driving core, finalise portfolio pruning, realise divestments