Slide 1: Investor Presentation October 28, 2019
(NASDAQ: BYND) I NVESTOR P RESENTATION October 28, 2019
Slide 2: Disclaimer
Disclaimer This presentation contains, in addition to historical information, certain forward-looking statements that are based on our current assumptions, expectations and projections about future performance and events and relate to, among other matters, our future financial performance, our busin
Slide 3: Business Overview
J BUSINESS OVERVIEW
Slide 4: We Use Proprietary Science to Redefine Meat
We Use Proprietary Science to Redefine Meat Beyond Meat’s Proprietary Technology & Processes are Used to Replicate Animal Meat’s Principal Components from Plant Proteins We begin with meat’s COMPOSITION versus its animal ORIGIN Then replicate its core structure & sensory experience Microscopy Compar
Slide 5: Consumers to Eat What You Love
We are Committed to Providing Products that Enable Consumers to Eat What You Love™ 42% 18-51% 78% 60-70 Billion Reduced risk of developing heart Of global greenhouse gas Of all agricultural land is used for Farm animals reared for failure associated with people who emissions driven by livestock, inc
Slide 6: Innovation is at the Core of our Company and is a Key Differentiator
Innovation is at the Core of our Company and is a Key Differentiator Innovation Strategy Led by Highly State-of-the-Art Innovation Center Respected Team of Scientists Large, experienced team composed of scientists, R&D Application Lab engineers, researchers, technicians, and chefs Color / Enca
Slide 7: Plant-Based Meat has a Significant Market Opportunity in the U.S. Alone
Plant-Based Meat has a Significant Market Opportunity in the U.S. Alone Plant-Based Meats are Growing in Consumer Acceptance – 95% of People Purchasing Plant-Based Burgers When Dining Out Also Purchasing Beef Burgers1 Applying Plant-Based Milk % Penetration in U.S. Dairy to Plant-Based Dairy Analogu
Slide 8: Recent Notable Updates
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Slide 9: Our Approach to Product and Strategy has Made Us a Leading Disruptor
Our Approach to Product and Strategy has Made Us a Leading Disruptor in the Meat Category We are Disrupting the Net Revenues ($ millions) Largest Category in Food $1.4tn $270bn Size of the Global Meat Size of the U.S. Meat $199.4 Category¹ Category¹ Beyond Meat is the Future of Protein 253% ~4x YoY
Slide 10: Momentum Has Continued Post-IPO
Momentum Has Continued Post-IPO October At IPO Growth 2019 Total Points of Distribution ~30,000 ~58,000 93% (Worldwide) Retail ~17,000 ~28,000 65% Foodservice ~12,000 ~23,000 92% International 1 ~1,000 ~7,000 600% July At IPO Growth 2019 Brand Awareness Unaided brand awareness 2 6% 13% 117% 3 Total
Slide 11: Strong Demand Led to the Aggressive Rollout of the Beyond Burger in Retail
Strong Demand Led to the Aggressive Rollout of the Beyond Burger in Retail Quarterly U.S. Retail Rollout of the Beyond Burger 24 20 Retail Outlets (in '000s) 15 13 13 10 7 5 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 10
Slide 12: The Beyond Meat Brand Has Maintained Its Solid Momentum In U.S. Retail
The Beyond Meat Brand Has Maintained Its Solid Momentum In U.S. Retail Velocity Growth and Market Share Gains Continue to Drive Strong Performance in U.S. Retail Channels 1 1 Beyond Meat Velocity Growth (YoY) Beyond Meat Market Share Growth (YoY) ($/TDP) 144% +1188 bps +1179 bps 97% 89% +756 bps Las
Slide 13: Beyond Meat is Building a Track Record of Success
Beyond Meat is Building a Track Record of Success We are Poised to Achieve Growth Across Three Distribution Channels Retail Restaurant and Foodservice International1 Net Revenues ($ millions) Net Revenues ($ millions) Select Customers and Distributors $104 $95 $51 $37 $37 $25 $19 $7 2017 2018 2018 Y
Slide 14: Recent Notable Updates
Recent Notable Updates Beyond Meat Rapid & Relentless Innovation Program Is Designed to Make Our Existing Products Obsolete, Generate New Products & Platforms, and Serve A Widening Circle of Customers Customers Products International We continue to expand our customer Rollout of both enhanced and ne
Slide 15: Financial Update
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Slide 16: Q3 2019 Performance Update
Q3 2019 Performance Update Highlights ($ millions) Q3’19 Q3’18 Change Net revenues increased 250% to $92.0mm, primarily due to an increase in Net Revenues $92.0 $26.3 250% our fresh product platform across retail, restaurant and foodservice channels, expansion in the number of points of Gross Prof
Slide 17: Sales Growth by Platform and Channel
Sales Growth by Platform and Channel Gross Revenues by Platform Net Revenues by Channel¹ Highlights YoY Growth (%) YoY Growth (%) Strong revenue growth, with multiple levers to further 2018 2019 YTD 2018 2019 YTD accelerate growth Fresh 351 % 297% Retail 99 % 180 % ― Brand awareness Frozen (19) %
Slide 18: Evolution of Quarterly Revenues
Evolution of Quarterly Revenues Quarterly Net Revenues ($ millions) YoY 107% 212% 180% 175% 215% 287% 250% Growth (%) $92.0 $67.3 $40.2 $31.5 $26.3 $17.4 $11.5 $12.8 $9.4 $6.2 $5.6 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 As we have shifted focus to our
Slide 19: Improving Margin Profile
Improving Margin Profile Gross Profit and Margin OpEx and OpEx % of Net Revenues Highlights Gross Margins Operating Expenses² as % of Net Revenues Gross margin benefits from transition to fresh product platform and increased sales (6.7)% 20.0% 17.2% 33.2% 54.2% 33.0% volume R&D as % of Net Revenue
Slide 20: Targeted Long-Term Margin Structure
Targeted Long-Term Margin Structure ~Mid to High-30s 33.2% 20.0% Gross Margin 2018A 2019 YTD Long-Term ~Mid-teens 7.9% Adjusted EBITDA (22.0%) as a % of Net Revenues1 2018A 2019 YTD Long-Term Note: YTD refers to nine-month period ended September 28, 2019. 1 See appendix for reconciliation of Adjuste
Slide 21: Appendix
en APPENDIX
Slide 22: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Reconciliation to Adjusted EBITDA (unaudited) Year Ended ($ millions) 12/31/2016 12/31/2017 12/31/2018 Q3'18 YTD Q3'19 YTD Net Income (Loss), as Reported ($25.1) ($30.4) ($29.9) ($22.4) ($12.0) Income Tax Expense $0.0 $0.0 $0.0 $0.0 $0.0 Interest Expense
Slide 23: Go Beyond
s™ GO BEYOND’