Plant-based Trends

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Plant-based consumers are also meat eaters

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1 Source: 292 Panel Participants via SurveyMonkey.com 2 Source: 413 Panel Participants via SurveyMonkey.com

Of those choosing JUST Egg in consumer studies

77%are meat eaters (omnivores or flexitarians)1

21%are non meat eaters, including 10% vegetarians, and 6% vegans1

68%plan to eat more plant-based proteins for breakfast in the next year2

Most will incorporate them gradually • 63%: 1-3 more times per week • 5%: 3+ additional times per week

Consumers are becoming more plant-based

1, Nielsen 2 Hartman Group 3 Marketing Week

92%Consumption Plant-based meals in UK consumed by non-vegans3

39%Plant-Based Trend People buying more plant-based food products in the next year1

51%Plant based is the majority Consumers purchased plant-based milk, dairy or meat alternatives in the last 3 months2

Consumers eat plant-based to be healthier & live longer

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Source: 394 Panel QSR Consumers via SurveyMonkey.com 1 International Food Information

Primary Attributes Heart Health (87%) Taste (83%) Life Longevity (82%)

Secondary Attributes Saturated Fat (80%) Environmentally Friendly (77%) Risk of Cancer(74%)

Reasons marked “Very Important” or “Somewhat Important”, those planning to eat more plant-based foods

73% of consumers believe plant-based proteins are “healthy”, compared to 38% for animal proteins1

Plant-based showing strong growth in foodserviceGood Food Institute Analysis

BurgerFi 100 locations Beyond Burger

TGI Friday’s 470 locations Beyond Burger

A&W Canada 925 locations Beyond Burger

White Castle 377 locations Impossible Slider

Carl’s Jr. 1100 locations Beyond Famous Star

Red Robin 570 locations Beyond Burger

Del Taco 500 locations Beyond Crumbles

Tim Hortons (test) 4000 locations Beyond Sausage Patty

Burger King 7330 locations Impossible Whopper

2016 2017 2018 2019

Subway 685 locations Beyond Meatball Sub

McDonalds (test) 29 locations (Canada) PLT w/ Beyond Meat

Dunkin’ 9000 locations Beyond Sausage Patty

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Good Food Institute Analysis

Retail launches of plant-based products are accelerating

1977 1982 1987 1992 2002 2007 2012 2017 2020

Boca Foods Sun Burger

Morningstar Farms Plant-Based burger

Gardein Frozen line

Lightlife Plant-based meat line

Don Lee Farms Burger

Tyson Raised & Rooted

Impossible Foods Grounds

Before the Butcher Uncut

Hormel Applegate Blend burger

Perdue Chicken Plus

Smithfield Pure Farmland

Nestle Awesome Burger & Grounds

Morningstar Farms Incogmeato

Key Product Launches at Retail

JUST JUST Egg

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10%

20%

30%

40%

50%

Milk Butter Creamer Yogurt Ice cream & frozen novelty

Meat Cheese Eggs

0.1%1%1%2%3%5%5%

12%

2%

17%

8%

30%

22%

34%

18%

41%

NaturalMULOSource: GFI 2019 report using proprietary SPINS data; plant-based meat total uses $95b total meat market including packaged meat sales and non-UPC meat counter sales

Plant-based share across categories in the Natural channel and MULO

Plant-based share by category and channel, 2019

Consumers want healthier, protein rich, low sugar breakfast options

Healthier Breakfast Protein Rich

High protein 39

Low sugar 38

High fiber 37

Whole grain 37

No artificial ingredients 33

Low sodium 29

No additives/preservatives 28

GMO-free 22

Organic 21

Gluten-free 13

Contains probiotics 12

Grain-free 7

I am eating healthier breakfasts 42

I eat breakfast foods for lunch or dinner 32

I eat natural foods for breakfast (eggs, fruit) rather than packaged foods (cereal, waffles) 32

I am eating breakfast more often 30

I eat breakfast foods as a snack 21

I eat a snack instead of a meal for breakfast 18

I eat breakfast at work 18

I prefer to eat handheld foods (breakfast sandwich, bar) than foods requiring a dish 16

I am dining out more for breakfast 12

I would pay more for single-serve packages (eg nutrition bar, oatmeal cup) 12

I prepare breakfast ahead of time (eg overnight oats, breakfast pastries) 12

None of the above 13

Source: Mintel, What’s For Breakfast, May 2016 Source: Mintel, What’s For Breakfast, May 2016

Please indicate if you agree with the following statements.

Which of the following nutrition claims are important to you when buying breakfast foods?

JUST Egg is healthier and more sustainable When compared to conventional chicken egg patties

Source: Published nutritional information of leading egg patties, prorated to 100g

66% less saturated fat

20% more protein

100%less cholesterol

79%less surface and groundwater

51%lower carbon footprint

Plant-based proteins are key for all day breakfast

1 Technomic 2 FONA International 3 American Egg Board 4 Nestle 2020 Industry Trend Report

Breakfast meal is shifting to all day • 60% of consumers skip breakfast at least once during the week1 • 30% purchasing more all day breakfast vs 2 years ago2

National chains are responding with all day breakfast • McDonald’s, White Castle, Sonic, Starbucks, Einstein Bros., Jack in the Box, Dunkin’

Donuts, Golden Corral, Denny’s, IHOP, Cracker Barrel, Tim Horton’s and Bob Evans3 • 37% increase in breakfast sandwiches on all day menus from 2015-20172 

High demand for delicious, plant-based options • 32% of millennials would like a vegetarian or vegan offering for breakfast,

compared to 20% of all consumers1 • 27% think restaurants provide good-tasting plant-based options4

Consumer interest in JUST Egg & healthy frozen breakfasts is surging

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Source: 300 participants, Cint US Panel, 18-49, HH Income>25K. 62% Omnivore, 21% Flexitarian (93% Meat Eater)

34% More interested in JUST Egg

Consumers 18–49 report they are:

Eating healthier food29%

35% Cooking more frozen food Eating more breakfast

29%

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