Mission Produce, Inc. · NASDAQ:AVO
Mission Produce — Investor Presentation (June 2021)
20 slides from Mission Produce's investor presentation, Jun 16, 2021
Slide 1: Investor Presentation
Investor Presentation June 16, 2021
Slide 2: Safe Harbor Statement
Safe Harbor Statement Notice to and Undertaking by Recipients This presentation does not purport to be alkinclusive or to contain al of the information that the Recipient may require. The Company expr 1g to oF resulting from the use of this presentation. This presentation may not be reproduced, forw
Slide 3: Mission Produce at a Glance
Mission Produce at a Glance ( \ a @ Leading Avocado Distributor $851MM 17M Q22 Revenue L by Volume Jt $98MM _— L7M Qe21 Adi EBITDA J ( ) ( ty é a an api A bn Global Avocado Market 2 7 10 - 20 Total US. 9 % Avocado ~$6 bn US, Avocado Market J Consumption CAGR Large Addressable Market =“ f- a f- YY fa
Slide 4: We Have a Long Track Record of Growth
We Have a Long Track Record of Growth @Gmm) (mm kbs) $851 658 2010 LT Q2'21 2010 LT Q2'21 233 $265 mim lugs 93 263 Note: Fiscal year ended October 31. Revenue reflects Mission Produce only. 1 lug = 25Ibs, or 1 box
Slide 5: We Operate In a Large and Growing Market with Supportive Tailwinds and Significant Barriers to Entry
We Operate In a Large and Growing Market with Supportive Tailwinds and Significant Barriers to Entry 20184, 20266 ado Market Japan South Korea ©) 3 Source US. Census Bureau, Hass Avocado Board, Accenture, Global Trade Magazine, Transparency Market Research United States Department of C) Health and W
Slide 6: Focused Growth Strategy
Focused Growth Strategy Capitalize on strong growth trends in our core US. market by expanding our nationwide distribution network AKG Ste A Leverage our global supply chain and distribution capabilities to continue developing international markets Diversify sourcing to enhance our global market- le
Slide 7: We Are the Only Global Pure-Play Provider of Avocados
We Are the Only Global Pure-Play Provider of Avocados Primary Reach for Avocado Distribution Global v v National (U.S) Distribution Footprint Ripening Company Capabilities Other Value-Add Services Vertical Integration Year-Round Two Countries of Origin Supply Gin) | v US. / Europe Australia v US. v
Slide 8: Customer Base
Customer Base BE @ soa Walmart | All of our top 10 customers have customers in over 25 countries customer relationships been customers for over 10 years t 1% of f TK t FY 2020 revenue total revenue in FY 2020
Slide 9: Overview of Value Added Services
Overview of Value Added Services negidion We provide customers with leading operations and industry insights that drive sales © > ORGANIC Ripening to customer Merchandising and promotional specifications support Bagging and custom packaging ©) 24/7 customer support availability Logistical management
Slide 10: Extensive Infrastructure With State-of-the-Art Facilities
Extensive Infrastructure With State-of-the-Art Facilities Proximity of packinghouses to our growers deepens the Proximity of FDCs and ripening centers to customers enables timely responsiveness to their demands relationships and differentiates us from other buyers 4 packinghouses 12 FDCs and Growers
Slide 11: International Farming and Vertical Integration
International Farming and Vertical Integration Better Control Over Supply Enables Season-Long Pricing Programs for Customers GUATEMALA SINCE 2020 © © COLOMBIA SINCE 2018 _~ Better Control Over Farming Practices GUATEMALA SECURED RIGHTS TO 1,600 ACRES © COLOMBIA PERU 14450 ACRES OWNED THROUGH JOINT V
Slide 12: Experienced Values-Based Leaders Who Nurture a Culture of Innovation and Growth
Experienced Values-Based Leaders Who Nurture a Culture of Innovation and Growth >= ws N Company Values Seasoned industry Steve Barnard Bryan Giles H ‘ounder, Chief Financial Officer pioneers and veterans each President and with 30+ years of industry Chief Executive Officer experience Fy Nn Innovativ
Slide 13: ESG Highlights
ESG Highlights Finest for the Future ENVIRONMENTAL, SOCIAL & GOVERNANCE REPORT Inaugural Environmental, Social and Governance (ESG) report released April 2021 Decreased out total global scope 1 and 2 emissions by 15.8% and reduced our total waste by 16.2% Modified our pallet configuration and box de
Slide 14: Our Unique Nationwide Distribution Capabilities Enable Us to Grow Volumes
Our Unique Nationwide Distribution Capabilities Enable Us to Grow Volumes With wy Go iS o ie = o S S = 1S) £ New and Existing Customers Across Channels Cal e ee Portland 00 ft Chicago ,000 ft ® Swedesboro Atlanta B® ox Walmart Loblaws pleasing and margins in mind The USS. is our largest market, wher
Slide 15: Overview of International Growth Distribution Opportunities
Overview of International Growth Distribution Opportunities US. avocado per capita consumption has seen significant growth. (Per-capita avocado consumption in Ibs 86 40 and serves as an analogue to the potential rise of avocado demand internationally (2020 per-capita avocado consumption in Ibs) BO 2
Slide 16: Opportunity to Diversify Sourcing and Year-Round Supply
Opportunity to Diversify Sourcing and Year-Round Supply California Key sourcing geographies Partnerships with the state’s top growers to @ Mexico @ California @ Peru @ Other provide high-quality avocados to markets all over the globe . Mexico Two packing facilities in Mexico have leading efficiency,
Slide 17: We Take a Disciplined Approach Towards Our Long-Term Investments in Vertical Integration
We Take a Disciplined Approach Towards Our Long-Term Investments in Vertical Integration neti Select thresholds for vertical integration capital planning © Vertical integration results in greater control over our supply chain and product quality EBITDA Margin Complementary © Enables us to earn a hig
Slide 18: FY21 Outlook
FY21 Outlook $900-920M Consolidated 670- 680M pounds 95-105M pounds 16 () See Non-GAAP Financial Measures $100-105M
Slide 19: Appendix
Slide 20: Adjusted EBITDA Reconciliation ($mm except for percentages)
($mm except for percentages) Net income (loss) $ 1o 6$ (13) $ 52 $ 29 «= $ 72 Interest expense v. 4 4 7 10 Provision for income taxes (2) 4 20 15 24 Depreciation and amortization 8 7 19 18 16 Equity method income (2) - (6) (4) (3) Impairment on equity method investment - 21 = 21 = Legal settlement a