Veganz Group AG

Investor Presentation • Sep 29, 2022

Geganz GOOD FOR YOU. BETTER FOR EVERYONE.

WE DRIVE INNOVATION IN THE VEGAN WORLD! H1 2022

INVESTOR PRESENTATION

29/09/2022

CONTENT

Summary H1 2022

Financial Update H1 2022 ଧ

Guidance 2022

SUMMARY - H1 2022

• · Subdued first half of the fiscal year 2022 due to global supply chain problems, the Ukraine war and rising inflation
• · Ongoing lack of discount business; further growth in food service
• · Innovations to navigate turbulent times
• Guidance 2022 adjusted
• · Set of measures adopted starting with three key measures

ERMANY S

MOST INNOVATIVE

OOD BRAND IN 2021

Source: Company information

KEY STATS - H1 2022

(1) Net Sales Veganz Group AG

29/09/2022 - INVESTOR PRESENTATION

eganz

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FURTHER DISTRIBUTION IN FOOD SERVICE AND NEW COOPERATIONS

MOMENTUM AND INCREASING VISIBILITY IN FOOD SERVICE

FINANCIAL UPDATE H1-2022

FINANCIAL DEVELOPMENT H1 2022

28.1

-6.8

INVESTOR PRESENTATION 29/09/2022

38

in €m	Hi 2022	H1 2021	Change (in %)
Net sales*	11.5	15.6	-26
Material expenses	8.3	10.7	-22
Personal expenses	2.3	1.7	+33
Other operating expenses	6.8	5.6	+22
- marketing expenses	2.0	2.0	+4
direct expenses -	2.9	2.4	+20
- indirect expenses	1.8	1.2	+56
Adjusted EBITDA	-5.7	-2.2
One-time expenses	0.1	0.7	-84
EBITDA	-5.8	-3.0
Depreciation	0.5	0.5	-1
EBIT	-6.3	-3.5
Net loss	-6.8	-4.0

Source: Company information

*Veganz Group AG, excl. Veganz Retail Berlin GmbH & Co. KG

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in €m	H1 2022	H1 2021	Change (in %)
Net sales*	12.6	16.9	-26
Material expenses	8.9	11.4	-22
Personal expenses	2.6	2.0	+29
Other operating expenses	7.1	5.9	+20
Adjusted EBITDA	-5.8	-2.2
One-time expenses	0.1	0.7	-84
EBITDA	-5.9	-2.9
Depreciation	0.5	0.5	-1
EBIT	-6.5	-3.5
Net loss	-7.0	-4.0

Source: Company information *Veganz Group AG, incl. Veganz Retail Berlin GmbH & Co. KG

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BALANCE SHEET DEVELOPMENT H1 2022

· Strong and above industry average equity ratio with 49%

• · Ongoing restructuring of fragmented financial liabilities
• · Further reduction of off-balance sheet arrangements
• · Restructuring of Corporate Group Structure; merger of inactive company Veganz Food Trailer, liquidation of US entity Veganz Inc.

GERMANY S

MOST INNOVATIVE

OOD BRAND IN 2021

Source: Company information

SET OF MEASURES

In-house production

• · Investments in Construction of Veganz Food Factory in Werder (Havel) stopped due to substantial delays caused by planning restrictions, as well as drastically increased construction costs
• · Implementation of completed plans in a new set up at a different site in the German State of Brandenburg
• · In the meantime, continued investments in smaller, temporary production facilities for own meat, fish, cheese and egg alternatives

Field sales force

• · Despite the substantial expansion of field sales force in 2021, anticipated impact on sales was not achieved in the current market and competitive environment
• · Sales force reduction from 50 to 30 as of 31 July 2022
• · Further reduction to approximately 20 employees by April 2023

Marketing

• · Modest demand for innovations in the first six months of 2022
• · · Time used to review and optimize ingredient lists, positioning and planned new products
• · Focus remains on multi-category strategy with the aim of being perceived as THE supplier of vegan food
• · Significant reduction of planned marketing actived core and focus categories as well as products from in-house production

GUIDANCE 2022 ADJUSTED

Depending on the macroeconomic conditions, Veganz now expects a significant (previously: slight) decrease in sales for the fiscal year 2022, both at Group level and at individual company level of Veganz Group AG (prior year: EUR 33.5 million and EUR 30.4 million, respectively), but continues to assume a slightly lower EBTDA compared to the previous year (prior year: EUR -9.8 million). Due to the adopted marketing activities the Company therefore no longer anticipates a general expansion of brand awareness, but rather a target group-specific increase in awareness of the Veganz brand in the fiscal year 2022.

in €m	2022* (consolidated)	2021 (unconsolidated)
Sales Veganz Group	Significant decrease	33.5
Sales Veganz Group AG	Significant decrease	30.4
EBITDA Veganz Group AG	Slightly lower	-9.8

2022: Reported at consolidated Group level as

APPENDIX

DISCLAIMER 1/2

• . This document has been prepared in the typether with its subsitiaries, "Vegan", All material polained in this dounch and information perposes only and musine to be reliebupon in ary purpose, and dees not purport in be a full or omplete description of the Company, leganz of its business, This not interded to, constitute or form part of, and should not be consided as an offer of sell, or a solicition of an ifer to purchase acquire, any securities of the Company, nor shall it or any part of il form the basis of or be intel upon in connection with or any inter it's any contract or commitment of intestment desion whatsever. This boument is not directed at or intended for distinct on use by, any person or resident or located in any boally, state, county or other jurisdicion where such distribution, arailability or use would be contract to law or mich model equite any registation of itemaing within such jurisdicing the bouned may not le reproduced redistibuted or passed on directly or indicely to any person in the United States of America ("Wiled States"), Australian (inisticion, in each case where to do so would constitute a vidation of the relevant laws of such jurisdian. Persons into worker comes should inform themselves about, and diserre, any such residinas.
• · This document and any materials with this document are not directed to distibuline on use by any person of entify that is a pillean or resident of any board or other juisdiation where such distribution, oublication, arabbility or use muld be onntary to law or regulation of while would recording within such juristiction. This downed des not sonstitute and for a solisitation of an offer to purchase any securities in 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 in or into the United States.
• · This document is tor information prossible an offering document or an offer of securities to the public in the United section 35 of the Financial Series and Market Kingtom Jas anneded by the Financial Services At 2012 of the United Kingdom Japples, Il is not intented to provide the bay securities and should not be considered as a recommendation hat any person should subscribe in or purchase any severities. In the United Is being nace, and is difected may are both (1) "qualified investos" within the maning of Mille (i) of the Property (EU) 2017/129, as it forms part of domestic law by virine of the European Diron (Withdraw) | Ar 2018 and eliber (i) persons lalling of huesday (contained in Article 195) of the Financial Services and Markets Ac2 200 Financial Promotion (ider 2005 ) Order persons to whom it may lawluded in accordance with the Order; of (ii) high net worth bodes corporale, unincerporated associations and the trusts, as described in Aricle 492)(a) to id of the Order (all such persons together being refered to as "Relevant or investment or intestment relates in available only to Release Persons and will be engaged in only with Relevant Persons.

DISCLAIMER 2/2

· The information contained in the proport to be ontrehensive. None of the subscibiries, underlakings or affiliates, or their respective disers, afficers, employees accepts any responsibility of libility whotsever for, or makes any representation of warranty, express of include, as to the form leters of the information in this bounnen 'or welter any information has been milited from the presentifical or any other information in subsidiaries or associated companies, whiter, within with a wisel or electronic form. and howsever transmitted or made araising from any use of this document or its contents or othernise arising in connection therewith By acception the document the breagonial has will be seley responsible to the Comment of the Company and leaan. the industry and the maked position of least you own aralysis and be soley responsible for forming your was not and potential luvre performance of he business in this doument is subject to verfication, correction, congletion, and clange without nolice. The Company been any philosion to provide with access to any additional information or in untal nor any information not o correct in any such information of the information contined in this document. Including mariat data and tread information, is based on expectations of there can be no assurance that these estimates or experitions are of will prove to be accurate. Where any information any extend source, such information or statistiss should not be interpreted as having been aboded or endorsed by the Company in this repor attributed to third property industry experts the Smagan's interpretaine of data, research pinished by such industry experts, and have not been reviewed by them. Each publication of such industry experts speaks as of its might as of the date of this document. This document conting stating to the tusiness. Inancial performance and regar of the industry in mich leganz operates. These statements may be identified by words such as "appetation", "belief", "stimate" and similar expessions, or by their content Forward-hoking statements readling: stategies, outlob and growth production for fully for problem and services in new mately, incusal rends; and the impact of regulation are made on the basis of current knowledge and assumplies issumily institudies. Yarious actors sould case arial formance of events to differ materially from those described in the Ompany no any offer person accepts any responsibility for the opinions expressed in this bounners on the underline. No obligation's assumed to update any forward-looking statements.

. The intention contained in the not been subject to any independent and and the intental inionaling should be rad in conjuntion with the released statements, including the notes therein financial data included in the document consists of 'non-BAP financial measurs may not be comprable to similarly ifiled masures orsenced by other comparies. no should hey be constructive to ther financial measures determined in accordance with Cerman SAR. You are plane under reliance on any no-SAR finalided herein. By attenting this document and or accepting or reading a coy of this bounner, pu 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

Share information

Issuer	Veganz Group AG
First day of trading	10th November 2021
SIN	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

M 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
18/10/2022	Quirin European Large & MidCap Event
15/11/2022	Quarterly Statement Q3 2022
28/11/2022	Eigenkapitalforum

22 29/09/2022 INVESTOR PRESENTATION