Kevin Cleary, CEO Clif Bar & Company

OPTIMISM

CONVENIENCE

THEY CARE

75,000,000

$1,000,000,000,000

Work Day Energy Expenditure

Trends over 5 Decades in U.S. Occupation-Related Physical Activity and Their Associations with Obesity. PLoS One, 2011.

66%Are being proactive

about their health

69%

Of Millennials CRAVE

adventure

Running Event

Finishers

+22%

2013 - 2014

+200% 2012-2013

4,000,000

Finishers

Bike Trips

+200%

since 2001

National Park

Visits

+20M

2013 - 2014

Fitness Tracker

Sales

+500%

2013 - 2014

3

BILLION

LBS/YR

No artificial flavors

ORGANIC NATURAL

No artificial preservatives

No high-toxicity synthetic fertilizers

No high-toxicity synthetic pesticides

No irradiation

No sewage sludge

No genetically-engineered ingredients

USDA National Organic Program regulated*

*when organic content is 70%-100%

NON-GMO

PROJECT

VERIFIED

✔

✔

✔

✔

✔

✔

✔

✔ ✔

Meals Out, Snacks In

50%

Of Eating Occasions are Snacks

50%

Of Eating Occasions are Outside

the Home

15%

Of Food Purchases are Eaten

Within 1hr

Health & Lifestyle

Bars are Outpacing

All Other

Categories Dollar Sales Growth Rate 2009 - 2014

Source: Nielsen FDM (exc. WM) Data, 2009-2014 CAGR, Nutrition & Energy Bars Retail Dollar Sales, Categories over $130MM in Annual $ Sales

15.6

13.3

9

8.7

7

6.5

5.8

5.7

5.7

Health & Lifestyle Bars

Fresh Meat

Snacks/Dips/Spreads

Coffee

Yogurt

Vitamins

Liquor

Fresh Eggs

Wine

$675

$1,396

$2,888

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

2009 2010 2011 2012 2013 2014 2015(FCST)

2016(FCST)

2017(FCST)

2018(FCST)

2019(FCST)

Health & Lifestyle Bar Category Sales

Projected to Double by 2019

Source: Nielsen scan data; Nielsen Homescan, All Outlet, 52wks ending 7/25/15

22.3

25.6

3.9

4.2

$7.69

$7.84

Health & Lifestyle Bar Category:

What’s Driving the Growth?

HH Penetration:

More HHs are buying Total Purchase:

They are spending more

each trip

Purchase Frequency:

They are buying more often

YA YA YA CURRENT CURRENT CURRENT

Clif Bar is the Most

Popular Choice in the

Health & Lifestyle

Bar Category with

a 35 Share

Dollar Share of H&L Category

Source: Nielsen FDM - 52 weeks ending August 8, 2015; Nielsen scan data, Total US-xaoc, 24wks ending 7/11/15

34.9

17.2

6.7

6.5

5.6

4.6

4.2

2.9

2.3

Clif Bar & Co

Kind Mfr

Zone Perfect Mfr

Lara Family Mfr

Think Thin Mfr

WW Sports Mfr

Power Bar Mfr

Balance Bar Mfr

Met-RX Mfr

The Opportunity:

Item Penetration &

Annual Buying Rate

(Nielsen/Grocery)

[VALUE]%

$36.41

[VALUE]%

$36.89

ITEM PENETRATION ANNUAL DOLLARS SPENT

CHIPS CHIPS

H&L

BARS

H&L

BARS

$0.00

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

$7.00

0

500

1,000

1,500

2,000

2,500

3,000

3,500

FL Cheetos FL Doritos Mars M&M Planters

Peanuts

Belvita Bar Clif Choc

Chip

Clif Peanut

Btr

Clif Brownie Clif Builders

Choc Mint

# of Vending/MicroMarkets Dollars/Market/Week

# o

f M

ic

ro

Ma

rke

ts

The Opportunity:

Number of Stores & Weekly Buying Rate per Store

MICROMARKETS

Do

lla

r sa

le

s p

er m

arke

t/w

ee

k

USG Sales Report Q1 2015

$0.00

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

$7.00

0

500

1,000

1,500

2,000

2,500

3,000

3,500

FL Cheetos FL Doritos Mars M&M Planters

Peanuts

Belvita Bar Clif Choc

Chip

Clif Peanut

Btr

Clif Brownie Clif Builders

Choc Mint

# of Vending/MicroMarkets Dollars/Market/Week

# o

f M

ic

ro

Ma

rke

ts

The Opportunity:

Number of Stores & Weekly Buying Rate per Store

MICROMARKETS

Do

lla

r sa

le

s p

er m

arke

t/w

ee

k

USG Sales Report Q1 2015