Strauss Israel Analyst presentation March 2023

Raanan Kovalsky CEO Strauss Israel

2023-present CEO Strauss Israel

2019-2022 CEO Strauss Dairies (partnership with Danone)

2014-2019 CEO Strauss Israel Sales Division

2011-2013

Strauss Israel VP trade, responsibilities for all retail and trade in Israel

1997-2011

A variety of managerial positions in the Sales Division of Strauss Frito Lay (Salty snack JV with Pepsico)

In 2022 Strauss Israel sales decline by 8.9% due to the confectionery recall;

all other categories grew. Margins eroded as a result of the recall as well as cost inflations primarily effecting raw & packaging materials and energy expenses

1,144 1,149 712 2020 2021 2022 0.4%+ -38.0% 6.0%+ 3.6%+

Fun & Indulgence revenues

Health & wellness revenues

Fun & Indulgence EBIT

Health & wellness EBIT

As an Innovative and branded company, we continued to launch new products for a variety of consumers

Innovation 2022

Following a comprehensive investments in food safety, we resumed production at the confectionery plant and have gained back significant market share

Strauss market share in confectionery

Source: Storenext

& OPPORTUNITIES

• Ongoing cost inflation

CHALLENGES

Commodity inflation as a result of the ongoing Russia – Ukraine conflict
Challenging Macro economic environment – inflation, interest rate hikes and FX volatility
Dynamic competitive and regulatory environment
Israel's economic and political environment affecting consumer behavior
Focus and strengthen our core
Gradual return of confectionery products to market
"Strauss One" implementation Combining consumer centric approach and operational excellence
Key focus on food safety and quality
Our purpose "Nourishing a better tomorrow" guides us as our compass
Continued investmentsin our plants Including the plant-based production site as part of the company's future growth engines