National Broker MeetingOctober 19, 2017

Overview:

• Opening Comments

• YTD Sales Performanceo Sales Progress

o Core/Extension/Stretch

• Marketing Updateo Innovation – Stretch the Category!

▪ Category Manager Presentations

• Key Driver’s to Success

• Housekepping and Q&A

1

A Global Network!

2

Pulmuone Foods USA: Perfect Combination of Mega Trend Alignment, Core Competencies & Intensive Investment to realize our Category Vision

STRATEGIC PRODUCT PORTFOLIO

CAPITAL INVESTMENT

• Equipment upgrades & BIC Cost, Quality &

Efficiency

• Expanded product scope & capabilities

• New processing & packaging

$15M

Past

18

Month

s

$40M

Ear

Marke

d

Core/Extension/

Stretch

9

Source: Financial Reports FRx YTD P12

Sales PerformanceCore/Extension/Stretch

10

STRETCHEXTENSIONCORE

▪ Perception: Hard to Prepare

▪ Behavior: High Involvement

▪ Perception: Easiest to Prepare

▪ Behavior: No Involvement▪ Perception: Easier to Prepare

▪ Behavior: Moderate Involvement

▪ Water Packed Tofu▪ Asian Pasta▪ EVK Salsa

▪ Tofu Baked▪ Vac Pack▪ Dumplings▪ Go Bowl

▪ Toss’ables ▪ Pro Cups

“Taking Back the Streets” - Core

11

Close the Gap!

• Increase Twin Pack ACV to minimum of 35%

o Achieve 80% “In-Store Fill Rate”

• Use Price brand (only when necessary) – Azumaya

• Asian Pasta - “Keep out the Dragon”

o Execute Noodle program

• Expand Micro Cluster Sets

• Regionally Launch EVK Salsa

• Win the Shelf War!

* Assumes ACV target is achieved by Q4 2018

“Taking Back the Streets” - Extension

12

Expand our Presence!

• Continue the success of Baked Tofu. Expand ACV

Distribution from 30% to 40%

o Go back to those who have not gotten on board

• Relaunch/Re-establish Vac Pack

o Revisit “Early Adoptors” and Expand Distribution

o 35% ACV – In-Store Fill Rate 80%

• Expand Dumpling ACV Distribution “Drive for Two”

o Current ACV 15% with an In-Store Fill rate of 30%

o Target ACV 30% with an In-Store Fill rate of 80%

• “Go Bowls” set record for NPD launch of 45% ACV

o Maximize launch ACV to activate regional

marketing overlay

* Assumes ACV target is achieved by Q4 2018

“Taking Back the Streets” - Stretch

13

Stretch the Category!

• Toss’ables set ACV record of 45%

o Maximize launch ACV to activate regional

marketing overlay

• Concept sell Phase II stretch portfolio

o Silken Creations (“Pro-cups”)

o Super Skillets – Quick Bakes

• Execute “Plant Based Protein” & “Asian Bistro” sets in

targeted Retailers

o Working with Tier I strategic design firm

• Implement B2C E-Commerce platform o Deliver specific strategy for Key Supermarket &

Internet-Based Retailers

* Assumes ACV target is achieved by Q4 2018

Marketing Update

▪ Team Structure

▪ Tofu Category

▪ Sauce & Pasta Category

▪ Asian Category

▪ PMA Update

Marketing Update

Tofu Update

▪ Tofu Category performance

▪ What’s New

✓Vacuum-Packed Tofu

▪ What’s Coming

✓ Toss’ables

✓ Silken Creation (2018 Market Test!)

Tofu Category Agenda

+3.7%

+3.5%

+12.7%+13.3%

52 wks 24 wks 12 wks 4 wks

Total Tofu

Source: Nielsen Syndicated Date ending 09/23/17

52 week 3.7% growth rate, a slow down from 2016, but showing signs of rebounding

Tofu Category Reaches

Annual Sales of $65M, +$3.6M

61.161.362.662.762.562.662.662.862.762.863.464.064.7

'16Sep

Oct Nov Dec '17Jan

Feb Mar Apr May Jun Jul Aug Sep

Total Moving Annual Sales, Tofu, $MTotal Tofu % Growth

Source: Nielsen Syndicated Date ending 09/23/17

Pulmuone is the market leader

in dollar and unit volume!

NASOYA38%

PRIV LABEL17%

AZUMAYA8%

WILDWOOD

4%

ETHNIC1%

HOUSE20%

OTHER12%

$ Volume 68% Share

NASOYA31%

PRIV LABEL21%

AZUMAYA9%

WILDWOOD3%

ETHNIC1%

HOUSE23%

OTHER12%

Unit Volume 65% Share

Source: Nielsen Syndicated Date ending 09/23/17

58%60%

1% 4%

44%

-5%

-24%-15%

-36%

-1%

48%

-7%

-60%

-40%

-20%

0%

20%

40%

60%

80%

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

PR

EMIU

M E

XTR

A F

IRM

16

OZ

PR

EMIU

M F

IRM

16

OZ

OR

GA

NIC

EX

TRA

FIR

M 1

2 O

Z

OR

GA

NIC

FIR

M 1

4 O

Z

PR

EMIU

M M

EDIU

M F

IRM

16

OZ

PR

EMIU

M S

OFT

14

OZ

TOFU

STE

AK

SEA

SON

ED 1

9 O

Z

PR

EMIU

M E

XTR

A F

IRM

12

OZ

PR

EMIU

M F

IRM

14

OZ

OR

GA

NIC

MED

IUM

FIR

M 1

4 O

Z

DH

A O

MEG

A E

XT

RA

FIR

M 1

2 O

Z

WO

K M

E U

P T

ERIY

AK

I 11

.5 O

Z

$ Sales % Change VS YAG

▪ Primary growth for House comes from 2 SKUs, Premium Extra Firm & Firm▪ Innovation Go Umami Baked Tofu Bar 3 SKUs $53K earned since launch

House Foods Growth Coming from Core SKUs

Distribution Growth, not through Innovation

What’s New!

Unique in the marketplace!

Fresh new graphics and bright coloring

One of a kind for Tofu category, utilizing MultiVac technology with highest quality standards

16 oz net weight

Super Firm texture

15 g of protein per serving; 29% DV

Gluten Free, Dairy Free, Vegetarian, Vegan

Certified Organic, Non-GMO Project Verified & Kosher

Introducing NEW & Improved Nasoya

Super Firm Organic Vacuum-Packed Tofu!

Nasoya VacPack is pressed, drained and ready to cook. A quick and convenient protein, perfect for #meatlessmondays

Consumer Insight✓ Consumers are more likely to try tofu if the steps in preparation are minimized. Perfect for the

novice tofu consumer.

How This Will Grow the Category✓ New visually appealing and recognizable packaging will bring millennials who are unfamiliar with

tofu preparation to the category.

Vac Pack is the “bridge” SKU between

Waterpack and Ready-to-Eat

Familiarity with other vacuum-packed products (e.g. cheese)

Waterless package format is freezer ready

Consumers like to touch and see what they buy

Despite comfort level with water packed tofu, experienced users cite a perceived freshness benefit of vacuum-packed tofu

Vacuum Packaging has benefits for

Tofu novices and experienced users

What’s Coming!

Toss’ables takes TofuBaked to the next level with more unique flavors

making it simple for the consumer to add to their favorite dish

• Exciting bold mainstream familiar flavors to bring new consumers to the category- Balsamic Vinaigrette and Garlic Herb!

• Gluten Free, Vegetarian, Vegan

• Certified Organic, Non-GMO Project Verified & Kosher

• Ready-to-eat, protein snack or meal ingredient

• Excellent Source of Plant-Based Protein

• Toss’ables convenient re-sealable retail grab and go packaging is on trend with the busy consumer lifestyles

Launching Timing : March 2018

＊Source: Mintel The Protein Report Meat Alternatives January 2017

Visiongain market research forecasts the market for plant-based protein substitutes will be worth more

than $4 billion in 2017. By 2020 estimates are $5 billion plus.

77% 73%62% 59%

0%

20%

40%

60%

80%

100%

iGeneration Millennials Generation X BabyBoomers

Would eat more meat alternatives if they knew how best to prepare them

Interest in Meat Alternatives

and Plant-Based Protein is Growing

New from America’s #1 tofu brand:

Toss’ables, the first cubed, marinated, and

baked tofu on the market

Source: DuPont Nutrition & Health

Consumer Insight

✓ Many consumers are afraid of tofu. Toss’ables takes the fear out of preparation and will further Nasoya’s journey to change consumers perception of tofu.

✓ Toss’ables convenience, product format, ease of use and packaging are more on trend with the millennial lifestyles.

How This Will Grow the Category

✓ Toss’ables takes TofuBaked to the next level with more unique flavors in a cubed form making it simple for the consumer to add to their favorite recipe. Stand up re-sealable packaging will be a first for this category.

Dairy-free Indulgence with More Protein than Leading Pudding

Brands

Market Test : January 2018

What’s the Idea

▪ Launch 2 flavors of a spoonable soy protein snack.

▪ Made with 99% Organic ingredients, 30% less sugar than leading pudding brand

Consumer Insight

▪ With yogurt being a large and growing category, Silken Creations would play against the familiarity of the yogurt look and feel.

▪ Would offer consumers a delicious dairy free alternative with more protein and less sugar.

How This Will Grow the Category

▪ This ready–to-eat offering would expand the eating occasions and bring consumers who are snacking as a meal to the category.

More innovative tofu products are under developing for 2018/19

Super food Skillet in Q4 2018 Quick Bake in 1H 2019

[Tofu Crumble Skillet]

[Cubed Tofu Skillet]

• Bring nutritious superfoods like quinoa, kale

and tofu into diet.

• Easy Prep, No mess, High Protein

• One-pan meal in 3 minutes

• Good for busy moms and cooking novice

[Tofu Nugget] [Tofu Stick]

• Baked tofu with crusted exterior and chewy

inside, totally different texture from normal

tofu(innovative technology developed for it)

• Good for snack or light meal

• RTH(Oven or Microwave)

VIDEO

PRINT

GEOTARGETING

Goal:Inspire Millennials to better fuel their lives by enjoying pure, plant-based foods & Asian foods from Nasoya!

TRADE

COUPON

Awareness Engagement Trial Repeat

FSI

BLOGGERS

IRC

TRADE

SOCIAL MEDIA

SAMPLING

FSI

IRC

SAMPLING

FSI

COUPON

AWARENESS:Take a fresh look at the portfolio

ENGAGEMENT:Engage Millennials for

ongoing conversation

and relevancy

PURCHASE & REPEAT:Get Plant based foods & Asian

foods in the shopping cart – be

the first choice of protein &

Asian foods for Millennials

TRIAL: Get Millennials

into Nasoya by celebrat

ing RTE credentials of pu

re, plant based foods &

Asian foods

IRC

PUBLIC RELATIONS

POS

SOCIAL MEDIA

POS

Marketing Communications

Increase awareness of our new products!

One page on the focus on the new product awarness effort at store

level and product placement

Pasta & Sauce

Update

▪ Sauce Category

▪ Emerald Valley Kitchen Salsa Update

▪ Pasta Category

▪ Update on Dumplings

▪ Regional Expansion Plan For Ravioli

Pasta & Sauce Category Agenda

• Upgrade Package with Overlay program will add tools to sales activity

• Package improvement will bring new momentum to boost sales

Salsa Package Upgrade and

Overlay Program

• Updated/ Modern Logo and Design

• New Design Retains EVK’s Traditional appearance while keeping up with consumer visual preferences and design trends

Jan May Sep Dec

Overlay program

• Consumer communications : FSI. Inserts. SNS, etc.• Trade promotions : TPR, 2 for $6, End cap, IRC, etc.

Emerald Valley Kitchen Salsa Calendar 2018

*Timing: All Timing subject to change based on acv gain

IRC ($1 off)

Shelf talker

Aware-ness

Trial

Engagement

Repeat

*Timing: All Timing subject to change based on acv gain

Website, Facebook, Instagram, pinterest, etc.

Social Nature Campaign

Poppyseeder

Nanny to Mommy; Hip Foodeie Mom, Everyday Stayaction

Sampling

Shopkick Shopkick

Digital coupon

Digital coupon

• First branded FRESH Asian dumplings

in the market

• First authentic dumpling products in

the produce category

• Packin’ trendy & popular Asian flavors;

satisfaction guaranteed

• All vegetarian dumplings are USDA

organic

• Provides “good source of protein” in all

of our vegetarian selections

• No preservatives & additives; clean &

natural ingredients

• Ready to cook; easy to prepare (under 5

minutes)

• Versatile 2-serving MAP packaging

Nasoya Fresh Dumplings

Two new Mainstream Flavors are planed to launch

in 2018 to boost sales

Source : Online Dumplings survey-161018, Qualtric.com

Flavor preference

• Develop Main stream Flavors

• Chicken, Pork

• Seafood potentially

• However, formula should not contain meat

• Leverage Tofu or MA

• Natural flavors should be researched

• Benchmark top-selling frozen dumpling’s flavor profile

Asian Category

Update

AN INNOVATOR IN ASIAN SET

GREAT TASTE

NOODLE

PRODUCT

ON-THE-GO

BOWL

PRODUCT

MICROWAVABLE

READY MEAL

PRODUCT

MICROWAVABLE NOODLE BOWL

More Convenient

Less Convenient

Noodle

OnlyKIT

KIT

GREAT TASTE

Wheat noodle + savory

black bean sauce

Wheat noodle + sweet

teriyaki and garlic topping

Rice noodle + savory

beef flavor broth

MICROWAVABLE /

READY IN MINUTES

CROSS SELLING

Less Convenient

Noodle

OnlyKIT

JUNE 2018 SHIIPMENT

More Convenient

3 VARIETIES OF NASOYA

BAG-NOODLES

Nasoya GoBowl Activation Calendar 2018

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

LaunchDates

Media

SocialEngagement

Mobile Shopper

Apps

Sampling

FSI (Print & Digital)

In-Store POS

IRC

Public Relations

ProductPlacement

Bloggers/FaceBook / Twitter/ Pinterest

IRC

Digital Media Buy

Sampling

Radio Radio

Long & Short Lead Media Reach, Press Releases

Instore POS

*Timing: All Timing subject to change based on approval date & ACV Gain

National Launch

Aware-ness

Trial

Engagement

Repeat

FSI FSI

Instore POS

IRC

Reinventing the way you noodle!

Digital Media Buy

Food Network

Shopkick Shopkick

PMA Update

Booth # 1735

PMA Update

New Products Showing & Samplings

Theme: Pulmuone has a solution for every eating occasion!

▪ Breakfast: Tofu Vegetable Dumplings with sauce & Toss’ables Caprese Skewers

▪ Lunch: GoBowls & Toss’ables Panzanella Salad▪ Afternoon Snack: Thai Basil Dumplings with Sauce &

Toss’ables Caprese Skewers▪ All day: EVK Salsa with tortilla chips & gluten free

options

PMA Update

Source: Financial Reports FRx YTD P12

Housekeeping and Q&A

54

1. What is the YTD % growth of Total PMO vs LY?

Answer: 7.2%

2. What is the level of investment spending PMO will make in Ayer?

Answer: +$10MM

4. What is the combined Tofu share of all PMO brands?

Answer: Jihyong Hong

5. What was the growth of WW Baked Tofu with the relaunch of GF?

Answer: 25%

3. What is the name of our VP of Marketing?

Answer: 71.3%

Questions and Answers

55

6. What is the the projected launch date of Toss’ables and Pro Cups?

Answer: 9/18/17

7. Why are Asian Dumplings a natural extension in the produce set?

Answer: Uses our pasta and tofu

9. What is Asian products?

Answer: DISTRIBUTION!

10. What are the (3) key drivers to success?

Answer: Continue to overachieve against key product groups;

Execute NPD’s and drive “Inspire Me!

8. What is NEW in 2017 in the Salsa category?

Answer: Sean

Questions and Answers

56

Kimchi and Chunky Salsa

Thanks!

See You at Booth

#1735

57