Royal Wessanen nv

Q1 2011

Amsterdam, 28 April 2011

2

Q1 2011 key figures

In € million Q1 2011 Q1 2010 In %

Revenue ¹ 178.8 172.6 3.6%

Autonomous growth 0.2%

EBIT ¹ 8.1 6.4 26.6%

‘Normalised’ EBIT ¹ 7.0 6.4 9.4%

Net result ² 4.5 (4.8) -

Earnings per share (EPS) ² 0.06 (0.07) -

Operating cash flow ¹ (5.2) (14.3)

Net debt 36.7 66.2 (44.6)%

Leverage ratio 1.1x 2.0x -

¹ Continuing operations; ² Attributable to Wessanen equity holders

3

EBIT - from reported to ‘normalised’

Q1 2011 Q1 2010

EBIT 8.1 6.4

Exceptionals 1.1 -

‘Normalised’ EBIT 7.0 6.4

Exceptionals

WE Grocery 0.5

WE HFS 0.6

Wessanen Europe Grocery Release provision €0.8mln Restructuring provision Belgian activities €(0.3) mln

Wessanen Europe HFS Release provision €0.6mln

4

Q1 2011 highlights Started 2011 as a stronger, more focused company

Central sourcing efforts starting to pay off, contributing to offset increased raw material costs

In general, expect to be successful in raising prices, if and where needed

Market share gains for leading Grocery brands

Numerous initiatives underway, such as Brand activation

• Such as Zonnatura biorhythm campaign Innovations

• Such as Bjorg lunchboxes, Allos Frucht Pur Embark on process to delist low-margin products Nationwide distribution of fresh products in the Netherlands Third GooodyFooods store opened in Almere

• Expect to realise 5-10 openings per annum Managed withdrawal Grocery Belgium

5

Innovations - some examples

6

Brand activation - Zonnatura Biorhythm

7

European brand-platform-category map

Organic Nutrition– Dairy alternatives– Biscuits (nutrition)– Bread replacers– Cereals– Tea– Spreads (nutrition)

Organic Taste-Indulgence– Spreads– Biscuits– Cereals – Juices

Organic Taste-Cooking– Condiments– Bouillon, Stock & Gravies– Meal components – Ready meals

France

Grocery HFS

TBD TBD

TBD

Netherlands

Grocery HFS

Germany

Grocery HFS

UK

Grocery HFS

TBD TBD

Other Europe

Grocery HFS

TBD

Consumer Benefit Platform

Organic Basics– Multi categories TBD TBD TBD TBD TBD TBD TBD TBD

8

Strategic objectives 2011-2013

Top-line growth

Market share gains in core categories and brands

Add-on acquisitions

Improve EBIT-margins

Increase gross margins (central sourcing savings, richer product mix)

Manage non-core brands for cash

Increase capacity utilisation own factories

Reduce overhead costs

Grow our export business and aim to establish footprint in other European countries

Improve operational performance / Establish cross-country organisation

Raise the overall talent bar / Increase people engagement

9

Closing remarks Started 2011 as a stronger, more focused company

Numerous good initiatives underway Central sourcing, SAP implementations, brand activation

Also still have to improve in various areas and businesses Notably Wessanen Europe HFS

Step-by-step improvement of sales and, subsequently, earnings performance

We are on the right track and we will see the first evidence in 2011 with more to come in the coming years

Appendices

11

Royal Wessanen - who we are

A long and rich history as a food company

Incorporated in 1765; Royal since 1913; listed on Euronext since 1959

2010 revenue €712 mln; over 2,200 employees

Headquartered in Amsterdam Operations in the Benelux, France, Germany, UK, Italy, USA

A leading player in the major organic food markets in Europe

Frozen Foods: leading frozen snacks producer/marketer in Benelux

ABC: leading producer fruit drinks/cocktail mixers in USA

Revenue split 2010

16%

13%

32%

39%

WE Grocery WE HFS Frozen Foods ABC

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16%

13%

32%

39%

WE GroceryRevenue €231 mlnEBITDA €12 mlnAvg. Capital Employed €66 mlnFTE’s (year-end) 435

Revenue 2010 €712 mln

Frozen FoodsRevenue €116 mlnEBITDA €9 mlnAvg. Capital Employed €56 mlnFTE’s (year-end) 505

WE HFSRevenue €273 mlnEBITDA €11 mlnAvg. Capital Employed €95 mlnFTE’s (year-end) 837

ABCRevenue €93 mlnEBITDA €7 mlnAvg. Capital Employed €46 mlnFTE’s (year-end) 382

Corporate centre & non-allocated EBITDA €(11) mlnFTE’s (year-end) 63

13

0

50

100

150

200

250

Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11

0

1

2

3

4

5

Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11

Net debt

Leverage ratio

€36.7 mln

1.1x

Net debt and leverage ratioIn € mln

14

Cash flow Q1 2011

7.4 (15.3)

(0.5)Derivatives

and FX

Sources

Uses

7.4

(2.2) Capex

7.9

I ncrease working capital

I ncrease of net debt

Cash flow from

earnings

(12.6)

In € mln

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Financial guidance 2011

Net financing costs €(4-5) mln

2010: €(8.3) mln (2009: €(19.9) mln)

Effective tax rate around 35%

2010 impacted by country mix and non-deductible impairments, partly compensated by

recognition tax losses

Capex around level of depreciation of €(15) mln

2010: €(11.5) mln (2009: €(9.5) mln)

Non-allocated expenses (incl. corporate) around 2010 normalised level

2010: €(12.3) mln (normalised €(10.2) mln)

Some reconfigurations low value-added distribution activities Wessanen Europe HFS

Possibly leading to limited restructuring costs

16

Priorities 2011

Wessanen Europe Grocery and Wessanen Europe HFS:

Achieve revenue growth and gain market share

Increase success rate of innovations

Improve operating margins through focus on core brands and strengthening of brand equity

Improve operational excellence

Frozen Foods:

Increase relevance of Beckers and Bicky brands for our customers and consumers

Improve operational efficiency by continuously improving quality of processes, systems and

production

ABC:

Build brand equity and improve distribution for sales growth and margin improvement

Intention to divest, in principle, in 2011

Financing policy

Aim to maintain net debt structurally below 2.5x EBITDA

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6.4

3.7 3.7

5.9

Q1 10 Q1 11

Wessanen Europe Grocery Revenue +7.7%

Autonomous growth 5.9%• Volume 5.7%; Price/mix 0.2%

Currency effect 0.4%; trading days 1.4%

Normalised operating result €5.9 mln Increased ICT spending Lower A&P spending, partly due to phasing

Exceptional gain €0.5 mln €0.8 mln due to release provision €(0.3) mln due to managed withdrawal Belgium

Brands such as Bjorg, Kallo and Whole Earth gaining market share

In Benelux, Zonnatura and Biorganic volumes up

Further expansion of distribution in German grocery

Gaining distribution in Italy

61.8

57.4

5.9%

EBIT (in € mln)

Revenue (in € mln)

Reported, ‘Normalised’

Autonomous third party revenue growth

18

2.93.3 3.3

2.3

Q1 10 Q1 11

Wessanen Europe HFS Revenue decreased (0.6)%

Autonomous growth (6.1)%• Volume (3.5)%, price/mix (2.6)%

Normalised EBIT Є2.3 mln Lower volumes in France and Benelux Higher operating expenses, mainly ICT related

€0.6 mln exceptional gain as result of release provision

Benelux sales impacted by increased competition ±30 Natuurwinkels at year-end following

departures 3rd GooodyFooods opened in Almere Natudis in nationwide distribution fresh products

French market slightly recovering. Bonneterre up, while fresh and food supplements down

Growth in German market varying per category ‘Our’ categories stable, while we posted growth

Tree of Life UK turned in solid performance

70.671.0

(6.1)%

EBIT (in € mln)

Revenue (in € mln)

Reported, ‘Normalised’

Autonomous third party revenue growth

19

0.8 0.8

Q1 10 Q1 11

Frozen Foods Revenue down 5.9%

Autonomous growth (7.9)%• Volume (8.7)%, price/mix 0.7%

Branded volumes up, private label down In general, competition remained fierce

EBIT in line with last year Lower gross margin due to lower revenue and

increased raw material prices Lower marketing expenses

• Phasing• In 2010 introduction of Mammoet frikandel

Focus remains on revitalising Beckers New campaign “The Family Man 2011”

27.028.7

(7.9)%

EBIT (in € mln)

Revenue (in € mln)

Autonomous revenue growth

20

0.7

1.3

Q1 10 Q1 11

American Beverage Corporation Revenue up 23.1% in US dollar terms

Autonomous growth 21.6%• Volume 13.9%, price/mix 7.7%

EBIT of US$1.0 mln in line with expectations

Daily’s doing well, driven by success RTD pouches Additional RTD line has been installed National roll-out large customer nearing

completion

Little Hug showing lower volumes Lapping bonus pack promotion last year Continued intense competitive activity

A&P in line with last year Upgrading of Little Hug packaging New print advertising with key benefits such as

“75% less sugar” Print advertising Daily’s updated

22.3

18.4

21.6%

EBIT (in € mln)

Revenue (in € mln)

Autonomous revenue growth