Veganz Group AG

Investor Presentation • May 31, 2022

GOOD FOR YOU.

WE DRIVE INNOVATION IN THE VEGAN WORLD! ANNUAL REPORT 2021

INVESTOR PRESENTATION

............. 31/05/2022 .............

CONTENT

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Summary 2021

ESG@Veganz

Guidance 2022

Key Take-Aways

$SUMMARY - FY 2021$

• Further grown $\bullet$ despite the ongoing COVID-19 pandemic $-$ due to the systematic expansion of our distribution channels
• Promising food service distribution channel established $\bullet$
• Product range systematically optimised $\bullet$
• Market position improved $\bullet$
• Brand awareness extended $\bullet$
• Innovative strength enhanced $\bullet$
• Successful IPO $\bullet$
• First ESG reporting $\bullet$ Sustainability as top priority

KEY STATS $-$ FY 2021

Source: Company information
(1) Net Sales Veganz Group AG

– NEW ESG REPORT EXPANDS ESG DATA TRANSPARENCY

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	AND PRODUCTION
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– HIGHLIGHTS AND CHALLENGES IN ALL THREE ESG DIMENSIONS

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WHAT WE WANT TO ACHIEVE GOING FORWARD

INCREASING ESG EFFORTS AFTER DEVELOPING LONG-TERM ESG STRATEGY

2021 Veganz goes public: Successful IPO marks the beginning of a new era

2022

We will conduct a materiality analysis with our stakeholders, define our overall ESG strategy and receive B-Corp certification

2019

We are the first company to display the Eaternity Score on all its products

We published our first full ESG report TODAY

2022

2023

We will expand our ESG reporting further and include additional important ESG data points

FINANCIAL UPDATE 2021

Sales(1) in €m

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Source: Company information (1) unconsolidated

P&L - FY 2021 (SHORT VERSION)

in $\epsilon$ m	2021	2020	Change (in %)
Net sales*	30.4	26.8	$+14$
Material expenses	21.1	18.8	$+12$
Personal expenses	3.4	2.9	$+17$
Other operating expenses	11.6	7.6	$+53$
- marketing expenses	3.5	1.4	$+147$
- direct expenses	5.0	4.6	$+{\mathcal{G}}$
- indirect expenses	3.1	1.6	$+94$
Adjusted EBITDA	$-5.5$	$-2.1$
One-time expenses**	4.3	1.2	$+258$
EBITDA	$-9.8$	$-3.2$
Depreciation	1.0	1.0
EBIT	$-10.8$	$-4.3$
Net loss	$-13.3$	$-4.9$

Source: Company information

*Veganz Group AG, excl. Veganz Retail Berlin GmbH & Co. KG
**Mainly for the private placement in June 2021 and the subsequent IPO

BALANCE SHEET DEVELOPMENT - FY 2021

• Strong and above industry average equity ratio with 53% due to private placement and IPO
• Repayment of high-interest loans and restructuring of fragmented financial liabilities
• Off-balance sheet arrangements reduced to a minimum
• Further balance sheet optimization through set up of structured working capital management in 2022

GERMANY'S

MOST INNOVATIVE

FOOD BRAND IN 2021

$SUMMARY - 012022$

Subdued start to the fiscal year 2022

due to global supply chain problems and the effects of the Ukraine war

Increased focus of the food retail and the discount sector on ensuring the basic supply

made new listings of Veganz products and the planning of promotions in the discount sector almost impossible

• Set-up of "hybrid" production solutions for cheese and fish alternatives with two rented production facilities (SOP Q3 2022) in order to compensate set back of Veganz Food Factory
• Further cooperation's in Food Service and Research and Development to drive innovation

New launch $Q₁$ 2022

KEY STATS - 01 2022

Source: Company information
(1) Net Sales Veganz Group AG

FURTHER DISTRIBUTION IN FOOD SERVICE AND NEW COOPERATIONS

MOMENTUM AND INCREASING VISIBILITY IN FOOD SERVICE

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FINANCIAL UPDATE

FINANCIAL DEVELOPMENT

31/05/2022 INVESTOR PRESENTATION Note: All numbers unconsolidated

P&L Q1 2022 (SHORT VERSION)

in $\epsilon$ m	Veganz Group AG		Veganz Group*
	Q1 2022	Q1 2021	Q1 2022	Q1 2021
Sales unconsolidated	6.3	8.0	6.9	8.8
Sales consolidated	n/a	n/a	6.8	n/a
Adjusted EBITDA	$-1.8$	$-1.2$	$-1.9$	n/a
One-time expenses	0.1	0.1	0.1	n/a
EBITDA	$-1.9$	$-1.3$	$-2.0$	n/a
Net loss	$-2.3$	$-1.8$	$-2.4$	n/a
Gross profit margin	29.5%	30.3%	29.9%	n/a
Net cash	10.6	$-13.2$	n/a	n/a
Equity ratio	53.6%		n/a	n/a

Source: Company information
* Reported at consolidated group level beginning with Q1 2022

NEXT STEPS

Finalising price negotiations with retail, discount and drugstore partners

• Expanding shelf space with established and new retail partners to attract additional customers
• Setting up the interim own production facilities to improve profitability and compensate for the delay in Werder (Havel) 3
• Strengthening the food service distribution channel through new partnerships

Optimising the product portfolio by continuous product innovation

Supporting the brand through increased marketing investment

Strengthening innovation power through strategic partnerships in R&D and brand cooperation's

GUIDANCE 2022

For the fiscal year 2022, Veganz plans to expand brand awareness consistently further. Depending on the general conditions – in particular the expected worsening of supply chain bottlenecks, further negative effects of the Ukraine crisis and inflationary pressure on the consumer behaviour of customers, which cannot be assessed conclusively - the Company expects a slight sales decrease for the fiscal year 2022, both at Group level and at individual Company level of Veganz Group AG. Despite the non-recurrence of the one-off expenses required in the prior year due to comprehensive financing measures, the Company expects a slightly lower EBITDA compared to the prior year due to the sales decrease and the expected costs for the construction and expansion of the Veganz Food Factory.

in $\epsilon$ m	$2022*$ (consolidated)	2021 (unconsolidated)
Sales Veganz Group	Slight decrease	33.5
Sales Veganz Group AG	Slight decrease	30.4
EBITDA Veganz Group AG	Slightly lower	$-9.8$

* 2022: Reported at consolidated Group level for the first time as of Q1 2022

WHY INVEST IN VEGANZ?

• Global megatrend with high growth potential
• Only multi-category provider of vegan food in Europe
• High innovation power supported by increased in-house production $\overline{3}$

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• Stable business model through multi-channel and multi-category approach
• Pure player in the field of sustainability

THANK YOU

APPENDIX

DISCLAIMER 1/2

• This document has been prepared by Veganz Group AG ("Company" and together with its subsidiaries. "Veganz"). All material contained in this document and information presented is for information purposes only and must not be relied upon for any purpose, and does not purport to be a full or complete description of the Company, Veganz or its business. This document does not, and is not intended to, constitute or form part of, and should not be construed as, an offer to sell, or a solicitation of an offer to purchase, subscribe for or otherwise acquire, any securities of the Company, nor shall it or any part of it form the basis of or be relied upon in connection with or act as any inducement or recommendation to enter into any contract or commitment or investment decision whatsoever. This document is not directed at, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other iurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. Accordingly, the document may not be reproduced, redistributed, published or passed on, directly or indirectly, to any person in the United States of America ("United States"). Australia, Canada, Japan or any other iurisdiction, in each case where to do so would constitute a violation of the relevant laws of such jurisdiction. Persons into whose possession this document comes should inform themselves about, and observe, any such restrictions.
• This document and any materials distributed in connection with this document are not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such iurisdiction. This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in Australia, Canada, Japan, or the United States. The securities described herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended ("Securities Act"), and may not be offered or sold in or into the United States.
• . This document is for information purposes only and does not constitute an offering document or an offer of securities to the public in the United Kingdom to which section 85 of the Financial Services and Markets Act 2000 of the United Kingdom (as amended by the Financial Services Act 2012 of the United Kingdom) applies. It is not intended to provide the basis for any evaluation of any securities and should not be considered as a recommendation that any person should subscribe for or purchase any securities. In the United Kingdom, this document is being made, and is directed only, to persons who are both (i) "qualified investors" within the meaning of Article 2(e) of the Prospectus Regulation (Regulation (EU) 2017/1129, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 and either (ii) persons falling within the definition of Investment Professionals (contained in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("Order")) or other persons to whom it may lawfully be communicated in accordance with the Order: or (iii) high net worth bodies corporate, unincorporated associations and partnerships and the trustees of high value trusts, as described in Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "Relevant Persons"). Any investment or investment activity to which this document relates in available only to Relevant Persons and will be engaged in only with Relevant Persons.

DISCLAIMER 2/2

• The information contained in this document does not purport to be comprehensive. None of the Company, any of its subsidiaries, undertakings or affiliates, or their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to the truth, fullness, accuracy or completeness of the information in this document (or whether any information has been omitted from the presentation) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection therewith. By accepting this document you acknowledge the foregoing and that you will be solely responsible for your own assessment of the Company and Veganz. the industry and the market position of Veganz and that you will conduct your own analysis and be solely responsible for forming your own view of the current and potential future performance of the business of Veganz. All information in this document is subject to verification, correction, completion, updating and change without notice. The Company does neither undertake any obligation to provide the recipient with access to any additional information nor to update this document nor any information nor to correct any inaccuracies in any such information A significant portion of the information contained in this document, including market data and trend information, is based on estimates or expectations of the Company, and there can be no assurance that these estimates or expectations are or will prove to be accurate. Where any information and statistics are quoted from any external source, such information or statistics should not be interpreted as having been adopted or endorsed by the Company as being accurate. All statements in this report attributable to third party industry experts represent the Company's interpretation of data, research opinion or viewpoints published by such industry experts, and have not been reviewed by them. Each publication of such industry experts speaks as of its original publication date and not as of the date of this document. This document contains forward-looking statements relating to the business, financial performance and results of the Company. Veganz or the industry in which Veganz operates. These statements may be identified by words such as "expectation". "belief". "estimate". "plan". "target" or "forecast" and similar expressions, or by their context. Forward-looking statements include statements regarding: strategies, outlook and growth prospects: future plans and potential for future growth: growth for products and services in new markets: industry trends; and the impact of requiatory initiatives. These statements are made on the basis of current knowledge and assumptions and involve risks and uncertainties. Various factors could cause actual future results, performance or events to differ materially from those described in these statements, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this document or the underlying assumptions. No obligation is assumed to update any forward-looking statements.

The information contained in this document has not been subject to any independent audit or review. Information taken or derived from unaudited financial information should be read in conjunction with the relevant audited financial statements, including the notes thereto. Certain financial data included in the document consists of "non-GAAP financial measures". These non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with German GAAP. You are cautioned not to place undue reliance on any non-GAAP financial measures and ratios included herein. By attending this document and/or accepting or reading a copy of this document, you agree to be bound by the foregoing limitations and conditions.

– CLASSIC MANAGEMENT EXPERIENCE, START-UP KNOW-HOW PAIRED WITH IN-DEPTH MARKET KNOWLEDGE

Jan Bredack Founder & CEO

• Founded Veganz in 02/2011

Key responsibilities:

• Sales and Distribution
• Retail

Alexandra Vázquez Bea CFO

• Joined Veganz in 07/2021

Key responsibilities:

• Accounting & Controlling
• IT & Data Management
• HR
• Legal

Anja Bachmüller COO

• Joined Veganz in 02/2017

Key responsibilities:

• Supply Chain Management
• Purchasing
• Production
• Quality Management

Moritz Möller CMO

• Joined Veganz in 04/2018

Key responsibilities:

• Marketing
• Product Management

– WE DRIVE INNOVATION IN THE VEGAN WORLD

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– INCREASE PROFITABILITY, INNOVATIVE STRENGTH AND PROTECTION OF IP

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– INCREASING BRAND AWARENESS REFLECTS THE OVERALL INCREASE IN CONSUMER FAMILIARITY WITH THE VEGANZ BRAND

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Source: Civey, 11/2021

Share information

Issuer	Veganz Group AG
First day of trading	10 th November 2021
ISIN	DE000A3E5ED2
WKN	A3E5ED
Ticker symbol	VEZ
Share capital	€1,223,399.00
Number of shares outstanding	1,223,399
Listing/Market segment	Regulated Unofficial Market (Freiverkehr) of the Frankfurt Stock Exchange (Scale Segment)
Type of shares	Ordinary bearer shares
Designated Sponsor	M.M.Warburg & CO

Analyst Coverage

$\mathcal{N}$ m.m.warburg & co BANK

Jan Bauer

Ralf Marinoni

–SINCE START OF TRADING (10/11/2021)

FINANCIAL CALENDAR 2022 & CONTACT

10/02/2022	Montega Hamburger Investorentag
26/04/2022	Solventis Aktienforum
31/05/2022	Annual Report 2021
31/05/2022	Quarterly Statement Q1 2022
02/06/2022	Quirin Champions Conference
23/06/2022	Warburg Highlights	Investor Relations
12/07/2022	Annual General Meeting	Vanina Hoffmann
29/09/2022	Half-Year Report 2022	E-Mail: vanina.hoffmann@veganz.de Mobil: +49 170 6837016
17/10/2022	Quirin European Large & MidCap Event
15/11/2022	Quarterly Statement Q3 2022
28/11/2022	Eigenkapitalforum