PresentationPiet Boer, Chairman Supervisory BoardNovember 2015

employees22.16811.3 billion

euro revenue

32Facilities in

countries 100Export to over

countries

Millionsof consumers

member dairy farmersown the Company

19,054 Every day

Figures 2014 1

FrieslandCampina brands

2

Worldwide

North and SouthAmericaUnited States of America

Brasil

361revenue *

163employees

6locations

EuropeNetherlandsGermanyBelgiumGreeceHungaryRomaniaRussiaFranceSpainItalyAustriaUnited Kingdom

6,768revenue *

13,371employees

71locations

Africa and the Middle EastNigeriaGhanaIvory CoastUnited Arab Emirates

Saudi ArabiaEgypt

1,241revenue *

1,060employees

6locations

Asia and OceaniaIndonesiaMalaysiaSingaporeThailandMyanmarVietnamPhilippinesChinaHong KongIndiaJapanNew Zealand2,978revenue *

7,574employees

32locations

Figures 2014* in millions of euros

3

Founding of Arnhemse

Melk-inrichting

Founding of CCF in

Leeuwarden

Friesche Vlag,Dutch Baby and

Bonnet Rouge are registered

for international markets

Founding ofCoberco in

Zutphen

Merger of Coberco, Friesland Dairy Foods,

De Zuid-Oost-Hoek andTwee Provinciën

Acquisition of Nutricia

Dairy &DrinksGroup

Friesland Foods

receives Royal designation on its 125th anniversary

Founding of the firstdairy co-operatives

Founding of the De Meijerij Veghel / De Melkindustrie Veghel

Campina brand introduced

DMV Campina and Melkunie Holland introduced

Founding Campina Melkunie

Acquisitionof Sudmilch(Heilbronn)

International launch of formation of international Campina brand and co-operative

Acquisition ofAlaska Milk CorporationPhilippines

Acquisition ofZijerveld

and Veldhuyzen B.V. andG. den Hollander Holding B.V.

Acquisition of IDB Belgium N.V.

18

79

19

13

19

19

19

65

19

97

20

01

20

04

20

13

20

12

20

08

20

01

19

93

19

89

19

79

19

47

19

26

18

80

20

14

20

20

We have a long history…

Acquisition Olam Ivory Coast and DEK srl in Italy.

Nine farmers take over a

cheese factory in the Dutch

Wieringerwaard

18

71

4

Governance & value creation

19,000 ambitiousmember farmers are the ownersof FrieslandCampina

6

13,696 member dairy farms

7

The Company is owned by the Cooperative

Chairmen’s meeting*

Members

Member Council

Supervisory Board

Districts

General Meeting of Shareholders

Board

Executive board

ZuivelcoöperatieFrieslandCampina U.A.

RoyalFrieslandCampina N.V.

holding all shares in

*The Chairmen of the 21 District Councils

8

In order to valorise the milk supplied

The objectiveof a business withno member milk isto generate profitabove our EBIT

hurdle

Profitability

The objective ofour member milk

intense businessesis to valorise

milk at positiveEBIT margins

Member milk usage

9

10

Net income based on the guaranteed price

11

Value creation

0,94

1,96 1,83

2,37

3,04 2,93

4,22

2009 2010 2011 2012 2013 2014 1e halfjaar2015

Performance premium + member bonds

Per 100 kilo milk

12

2009 2010 2011 2012 2013

8,1608,972

9,62610,309

11,281

2009 2010 2011 2012 2013

0.94

1.961.83

2.37

3.04

11,348

2014

2.93

2014

Revenuein millions of euros

Value creationPerformance premium + member bondsPer 100 kilo milk

Development growth and value creation

13

Foqus planet

Sustainability and outdoor grazingSecure support by customers, politics, and society at large

Quality throughout the chainBe 100% reliable: crucial for our market positions

We must deliver on three pillars for continuity

TransparencyDemonstrably meet the requirements of supervisory and monitoring agencies, countries and customers

We manage the sustainable dairy industry

Climate & Energy

Animal health and welfare

Biodiversity &environment

Outdoor grazing

Foqus planet: the basis for quality and a save and sustainable dairy chain

Feed and health

Milking

Transport

Processing

Packaging

Distribution

‘From grass to glass’

18

The renewed Foqus planet programme has a clear design

Basic requirements

Outdoor grazing

Sustainable development

Basic requirements consist of• essential requirements• standard requirements

The basic requirements relateto the hygiene, quality andsafety of milk, feed and water as well as animal health and welfare

Basic requirements:requirements which must be met

Basic requirements

Requirements which must be met

Outdoor grazing cow is part of the Dutch culture landscape and is valued greatlyby society and consumers

Towards 81 % outdoor grazing• Enshrined in Covenant Grazing

and Sustainable Dairy Chain• Retention for all members:

0.35 euro per 100 kg milk• Outdoor grazing supplement:

1.00 euro per 100 kg milk• Partial outdoor grazing

supplement:0.46 euro per 100 kg milk

Target outdoor grazing:81 per cent, level of 2012

Outdoor grazing

Important because valued by society and the market

Approach• Reward results with

Foqus planet supplement• Six indicators with

measurable results

Three themes• Animal health and welfare• Biodiversity and the

environment• Climate and energy

Sustainable development:working systematically towards

2020 sectoral objectives

Sustainable development

Continuous improvement of results

Results on the farm determine the points scored

Performance is measured for each indicator

Thank you!