CAGNY 2024 Conference

• Grow EBITDA Our Margin Opportunity Opportunity to leverage low-cost platforms and processes Significant cost and efficiency disparity within the current network FACTORY EXPENSE PER KILO HIGHEST COST FACILITY ~50%2 ~20%2 LOWEST COST FACILITY LEAST EFFICIENT FACILITY MOST EFFICIENT FACILITY | 49 1) As measured by Overall Equipment Effectiveness (OEE) 2) These are management estimates OPERATING EFFICIENCY1 Modernizing our Supply Chain | 50 • Automation • Digital Capabilities • New Manufacturing Technology | ...