Investor presentation – Paris - 1 July 2014Roadshow hosted by

Q1 2014 published 25th of April

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

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

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

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

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

Our sustainability strategy

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

Q1 key figures

In € mln Q1 2014 Q1 2013

Revenue 129.6 124.3

Autonomous growth 1.7%

Normalised EBIT 9.3 8.1

as % of revenue 7.2% 6.5%

EBIT 9.2 7.4

Profit from continuing operations 5.6 4.7

Profit/(loss) from discontinued operations (0.6) 0.4

Profit for the period 5.0 5.1

Earnings per share 0.07 0.07

Off to a good start of the year

Q1 revenue growing 4.3%

Autonomous revenue growth at Branded 4.1%, at ABC (8.9)%

Core brands and categories growing

EBITE increased , mainly driven by Branded

Good progress on divesting discontinued operations

Sale Natudis closed (April 2014)

Sale IZICO closed (May 2014)

2014: Focus on driving core and finalise portfolio pruning

Branded - business review

Q1 revenue up 8.0% to €109.9 mln

Autonomous revenue growth 4.1%, all due to volume

Core brands and categories showing good growth

Clipper, Zonnatura and Tartex showing double digit growth

European roll out Clipper progressing well

France, Germany and UK growing; Benelux impacted by cutting the tail project

Integration Alter Eco on track

85%

Branded ABC

Branded - overview

57%

14%

12%

11%6%

France UK Germany Benelux Others

Revenue breakdown (FY 2013) Our production locations

ABC - business review

Q1 revenue declined (12.5)% to €19.7 mln

Autonomous growth (8.9)%

Little Hug continued to grow double digit, outpacing declining category

2nd production line added to Arizona manufacturing facility

RTD frozen pouch segment remained under pressure

Daily’s clear market leader, gaining market share

ABC back to profitability in 2014

15%

Branded ABC

A sound financial position

In € mln Mar 14 Dec 13

Non-current assets 116.7 118.0

Current assets 242.3 219.7

Total assets 359.0 337.7

In € mln Mar 14 Dec 13

Total equity 111.3 105.4

Non-current liabilities 67.9 72.5

Current liabilities 179.8 159.8

Total equity & liabilities 359.0 337.7

0

25

50

75

100

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14

Net debt

0

1

2

3

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14

Leverage ratio

56.61.8x

In € mln

(Financial) guidance (continuing operations only)

FY 2014 EBIT(E)

Wessanen is expected to report a higher EBITE in 2014

ABC is expected to be profitable again in 2014

Non-allocated expenses (including corporate expenses) €(2-3) mln

Financial items

Net financing costs €(2) mln

Effective tax rate around 30-35%

Capital expenditures €(4) mln

Depreciation and amortisation €(11) mln

Wessanen overview

TSR peer group

Bonduelle Lotus Bakeries

Bongrain Nutreco

Corbion Premier Foods

Ebro Foods Sligro

Fleury Michon Wessanen

7.3%3.8%

Executive Board

CEO Christophe Barnouin (1968)

CFO Ronald Merckx (1967)

Shares 2013

Avg. # of shares 75.7 mln

EPS €0.00

Dividend €0.05

Pay-out ratio 42%

Ratios 2013

EBITE (in%) 2.6%

RoCE (in %) 7.0%

Leverage ratio 1.6 x

Debt to equity 48%

Capex to revenue 1.0%

Royal Wessanen

1765 Incorporated

1913 Royal warrant granted

1959 Listed at Euronext

Corporate Communications & Investor Relations

Carl Hoyer

+31 20 3122 140 +31 6 123 556 58

Carl.hoyer@wessanen.com

www.wessanen.com Twitter: @royalwessanen

Valuation

Market cap €325 mln (23 Jun)

Debt €56.6 mln (31 Mar)