JUST - Confidential - Do not copy or distributecontent.ju.st.s3.us-west-1.amazonaws.com/Sell JUST...

JUST - Confidential - Do not copy or distribute


Sustainability JUST Egg uses 98% less water with a 93% smaller carbon footprint than animal proteins.

Healthy, sustainable protein for breakfast

Growing the category Our consumers want a healthy, sustainable protein

for breakfast and are often new to the egg category.

HealthJUST Egg is free of cholesterol and packed

with as much protein as animal proteins.

The egg The world’s simplest but most transformational cooking ingredient, reimagined with plants.

How we do it


We found a bean that scrambles like an egg

Name Mung Bean

Functionality Gelation

Grown globally India, China, Africa

Regulatory 7th plant protein isolate to receive

“GRAS-No Questions” letter from FDA

Our engineers commercialized it

We remove protein from the mung bean at our facility in

Appleton, MN which processes 250,000+ egg equivalents/day

Our chefs made it delicious

I had to check the label twice to make sure what was on my plate

didn’t come from a chicken.

-Bon Appétit

Michael Foods brings JUST Egg to everyone

Michael Foods, the largest supplier of eggs to restaurants and other foodservice

locations (e.g., schools, stadiums, hospitals, large chains) will be manufacturing and

distributing JUST Egg in the United States.

Michael Foods supplies 1.2B lbs of eggs to the foodservice industry. Now selling plant eggs.

= 10M lbs of eggs


JUST Egg Folded Awarded Best New Frozen Product at Expo West’s NEXTY Awards 2020

Simply pop it in a toaster, microwave, oven, or skillet

Made from plants No cholesterol Non-GMO 7g of protein/serving Use less water and carbon emissions than conventional chicken eggs Retail: 6/8oz Foodservice: 120/2oz


JUST Egg I had to check the label twice to make sure what was on my plate didn’t come from a chicken. —Bon Appétit

Great for omelets, frittatas, or a simple scrambled egg dish

Made from plants No cholesterol Non-GMO 5g of protein/serving Use less water and carbon emissions than conventional chicken eggs Retail: 6/12oz Foodservice: 15/2lbs

Retail


JUST saw the biggest distribution gain of any egg supplier.

Egg buyer, top 5 National retailer


4/28/19 7/7/19 10/6/19 11/10/19 11/17/19 12/22/19 12/28/19 4/12/20 5/17/20

In a top 5 supermarket, JUST Egg continues to surpass top selling categories

Source: Nielsen, top 5 supermarket; all competitive items are based on avg units per store per week, 4 weeks ending 12/28/2019 due to data availability; $ growth 4 wks vs prior year; JUST data retrieved from retailer portal, excludes private label products and ACV < 10

14 u/s/w

surpassing plant-based yogurt

18 u/s/w

surpassing breakfast meals

21 u/s/w

surpassing cold cereal

22 u/s/w

surpassing liquid eggs

27 u/s/w

surpassing breakfast sandwiches

40 u/s/w

surpassing almond milk27 u/s/w

Highest dollar growth plant-based food protein

64 u/s/w

surpassing 80% of all egg skus

JUST Egg Launch

Jan ‘20 May ‘20Jan ‘20 May ‘20Jan ‘20 May ‘20Jan ‘20 May ‘20Jan ‘20 May ‘20 Jan ‘20 May ‘20


Source: IRI, units per store per week, Last 4 ending 5-17-20 vs 1-26-20; Whole Foods Last 4 ending 5-30-20 vs 2-2-20 via retailer portal

Total US Grocery

JUST Egg velocities are erupting this year Velocity in Grocery has grown 66% since January with large gains at top national and regional grocers

WalmartWegmansPublixKroger

+66%

+89%

+55%+97%

+66%

Whole Foods

+105%


$1

$2

$3

$4

$5

$6

$7

$8

$9

$10

14

28

42

56

70

5/5/19

5/12/19

5/19/19

5/26/19

6/2/19

6/9/19

6/16/19

6/23/19

6/30/197/7/19

7/14/19

7/21/19

7/28/19

8/4/19

8/11/19

8/18/19

8/25/199/1/19

9/8/19

9/15/19

9/22/19

9/29/19

10/6/19

10/13/19

10/20/19

10/27/19

11/3/19

11/10/19

11/17/19

11/24/19

12/1/19

12/8/19

12/15/19

12/22/19

12/29/19

1/5/20

1/12/20

1/19/20

1/26/20

2/2/20

2/9/20

2/16/20

2/23/20

3/1/20

3/8/20

3/15/20

3/22/20

3/29/20

4/5/20

4/12/20

4/19/20

4/26/20

5/3/20

5/10/20

5/17/20

5/24/20

Significant velocity increase following first price promotion in July

Source: Retailer portal; dates above are week ending, u/s/w based on stores selling; Top selling stores based on week ending 5/24/20Avg PriceUnits/Store/Week

$6.99 EDLP &X-mas seasonality

Top selling stores UnitsLake Grove (NY) 444Bayhill (FL) 277Brooklyn (NY) 231Newport News (VA) 228Schaumburg (IL) 214Uptown Charlotte (NC) 212Alamo Quarry (TX) 211Miami (FL) 209Galleria (MO) 203Evergreen Park (IL) 191Pembroke Pines (FL) 190Altamonte Springs (FL) 184Commack (NY) 180Ponce De Leon (GA) 176Schererville (IN) 173Blossom Hill (CA) 172Easton (OH) 168Fort Greene (NY) 168Harrison (CA) 167Boca Raton (FL) 165

$4.99 EDLP $3.99 Promo

At a top 5 supermarket, JUST Egg’s velocity has grown 10x since last year’s launch, reaching 69 u/s/w 21% of stores selling over 100 u/s/w

2018 2019

2,570,734

1,109,397


A leading natural grocer doubled its category sales, led by JUST Egg

JUST Egg 44%

Source: Nielsen, Last 12 Weeks Ending 3/21/20, Egg Substitutes. Sales in USD. Leading Natural Grocer

+132%

Whole Foods flagship store Austin, TX


Source: IRI, Total US-Multi Outlet, Egg Substitutes category, Week Ending 5/17/2020; Dollars per Store per Week, all items with ACV> 10, excludes private label

JUST Egg is #1 in the category

Avg. weekly $ per store selling

JUST Egg 12oz

Egg Beaters 32oz

Egg Beaters 30oz

Egg Beaters 16oz

Egg Beaters 15oz

$36.33

$12.34

$12.89

$25.27

$33.67


Top 10 selling stores Units/Week

Chandler (AZ) 160

Alamo Quarry (TX) 92

Columbus (OH) 89

Schererville (IN) 80

Virginia Beach (VA) 74

Lynnwood (WA) 67

Birmingham (AL) 65

Midtown Houston (TX) 65

Lake Grove (NY) 62

Commack (NY) 59

In a top 5 supermarket, JUST Egg Folded velocity quadrupled since launch After two months, JUST Egg Folded is the #1 egg patty and #2 frozen breakfast

Source: Retailer Portal, Units/Store/Week; Top stores selling week ending 5/24/20

$1

$2

$3

$4

$5

$6

$7

$8

5

10

15

20

3/29/20 4/5/20 4/12/20 4/19/20 4/26/20 5/3/20 5/10/20 5/17/20 5/24/20 5/31/20

Avg PriceUnits/Store/Week

Cracking the waffle monopoly: JUST Egg Folded is #2 in frozen breakfast at a top 5 supermarket

Source: Buyer report, ending week of 6/1 Frozen frittatasFrozen frittatas Omelet bites Omelet Bites

Breakfastsandwich

Breakfastsandwich

Breakfastsandwich

Breakfastsandwich

Gluten-free waffles

Gluten-free waffles

Gluten-free waffles

Classic waffles

Classic waffles

Classic waffles

Classic waffles

Classic waffles

Classic waffles

Multigrain waffles

Multigrain waffles

Multigrain waffles

Gluten-free breakfastsandwich

Breakfast bowl

Breakfastsandwich

Breakfastsandwich

Breakfastsandwich

Breakfastsausages

Breakfastsausages

Egg White BowlEgg white patties

Made from plants (not chickens)

Egg

4 folded plant eggsServing suggestionPerishable – Keep Frozen

NET WT 8 OZ (227g)


Egg


NET WT 8 OZ (227g)

Frozen frittatasFrozen frittatas Omelet bites Omelet bites

Breakfast bowlBreakfast bowl Breakfast bowl Breakfast bowl

Gluten-free waffles

Gluten-free waffles

Gluten-free waffles

Homestyle waffles

Homestyle waffles

Homestyle waffles

Homestyle waffles

Homestyle waffles

Homestyle waffles

Blueberry waffles

Blueberry waffles

Blueberry waffles

Chia Quinoa waffles

Chia Quinoa waffles

Chia Quinoa waffles

Belgian waffles

Belgian waffles

Belgian waffles

French toast waffles



Protein waffles

Protein waffles

Protein waffles

Protein waffles

Protein waffles

Protein waffles

Protein waffles

Protein waffles

Protein waffles


Breakfast bowl

Breakfastburrito

Breakfastburrito

Breakfastburrioto

Breakfastburrito

Breakfastburrito

Breakfastburrioto


Frozen frittatasFrozen frittatas Omelet bites Omelet Bites

Breakfastsandwich

Breakfastsandwich

Breakfastsandwich

Breakfastsandwich

Gluten-free waffles

Gluten-free waffles

Gluten-free waffles

Classic waffles

Classic waffles

Classic waffles

Classic waffles

Classic waffles

Classic waffles

Multigrain waffles

Multigrain waffles

Multigrain waffles


Breakfast bowl

Breakfastsandwich

Breakfastsandwich

Breakfastsandwich

Breakfastsausages

Breakfastsausages



Egg


NET WT 8 OZ (227g)


Egg


NET WT 8 OZ (227g)

Frozen frittatasFrozen frittatas Omelet bites Omelet bites

Breakfast bowlBreakfast bowl Breakfast bowl Breakfast bowl

Gluten-free waffles

Gluten-free waffles

Gluten-free waffles

Homestyle waffles

Homestyle waffles

Homestyle waffles

Homestyle waffles

Homestyle waffles

Homestyle waffles

Blueberry waffles

Blueberry waffles

Blueberry waffles

Chia Quinoa waffles

Chia Quinoa waffles

Chia Quinoa waffles

Belgian waffles

Belgian waffles

Belgian waffles




Protein waffles

Protein waffles

Protein waffles

Protein waffles

Protein waffles

Protein waffles

Protein waffles

Protein waffles

Protein waffles


Breakfast bowl

Breakfastburrito

Breakfastburrito

Breakfastburrioto

Breakfastburrito

Breakfastburrito

Breakfastburrioto


Foodservice


JUST Egg products are nearly indistinguishable from their ‘real’ counterparts – they taste like eggs, cook like eggs and can bake like eggs.


Because of the innovation of this type of a product, there’s really nothing else like it.

Chef Rob Morasco, Senior Director of Culinary Development, Sodexo


Source: Reuters The Fiscal Times

There are many plant-based burgers, but only one JUST Egg

Each year, McDonald’s USA buys approximately 1 billion pounds of beef, and 2 billion eggs

Plant-based Burger Plant-based Egg

Awesome / Incredible (Nestle) JUST EggLightlifeImpossibleBeyondDr. Praeger’sGardeinMorningstar Farms

https://www.reuters.com/article/us-mcdonalds-eggs-idUSKCN0R91SJ20150909

https://www.thefiscaltimes.com/Articles/2012/04/30/13-Disturbing-Facts-About-McDonalds


JUST Egg Frittata outsold the egg equivalent by 25%• 55% of customers are purchasing in the afternoon • Mission/environmentally focused and vegans/vegetarians

make up most of the new LPQ customers

Source: LPQ sales data


JUST Egg helps Silver Diner grow faster than the competitionSilver Diner, the largest diner chain in the US, is a leading plant-based menu innovator

JUST Eggs Benedict

JUST Egg Performance • Over 150 JUST Egg servings per location per week • Sales have doubled in last 6 months, expanding to

3 menu items • Major driver of sales & customer growth

Plant-based growth • 2/3rds of all new menu items are plant-based • Double digit annual growth while competition shrank

due to doubling their plant-based menu sales


JUST Egg #1 breakfast item at Gregory’s CoffeeCase Study: Gregory’s Coffee (30 location, New York-based coffee chain)

Performance • JUST Egg #1 breakfast item chain-wide • Accounts for 40% of all breakfast sandwich sales, outselling

conventional egg options including the popular “New Yorker” • Selling 2x spicy avocado toast, the former top selling breakfast item

Growth • JUST Egg sales didn’t cannibalize other items • Average check size increased

1. New sandwich sales to people formerly only ordering coffee 2. Price premium increasing average purchase price

• During recent World Vegan Day promo, JUST Egg sales increased 10x while high traffic stores sold out by noon

Customers • JUST Egg customers are loyal – while sales of other items fluctuate based on traffic, JUST Egg sales are consistent and growing

• Customers skew toward millennials, health & wellness focused; 51% female, 49% male

Source: ERP Data & Management interview conducted Jan 2020

Impact


JUST Egg uses 98% less water

Surface and Groundwater ConsumptionLiters of surface and groundwater consumed per 1.5 oz, and per 1 kg, of product.

We calculate the total amount of surface water and groundwater consumed within the supply chains of JUST Egg, measured in terms of liters. This indicator is synonymous with and described elsewhere as “blue water.”

Greenhouse Gas (GHG) EmissionsKilograms of GHGs emitted per 1.5 oz, and per 1 kg, of product.

GHGs are chemicals that contribute to global climate change. In global agriculture, the most significant contributors to climate change are land conversion (e.g., forested areas and marshes converted to cropland), enteric fermentation by cattle and other ruminants, manure applied to pastureland, and the production and use of synthetic fertilizers (IPCC, 2014).

Our model accounts for these emissions from our supply chain, measured in kilograms of CO2e.

JUST Egg has a 93% smaller carbon footprint

JUST Egg uses 86% less land

Land Use Square meters of land required to produce 1.5 oz and 1 kg of the main ingredient being compared.

Mung bean and other ingredients in JUST Egg are the principle components in the land use assessment for JUST Egg.

Marketing Support



Digital (May 2020 web traffic, 288k) • Always-on search and remarketing campaigns • Digital video and display campaigns targeting plant-based

buyers and allergy families

Social (Facebook likes, 325k; Instagram, 154k) • EarthEveryDay campaign on Facebook and Instagram

targeting sustainably-minded audience • “Plant-based for breakfast, 15-day challenge” influencer

campaign • Folded launch influencer campaign • “JUST At Home” Instagram TV series • #BrunchForMom giveaway campaign

Partnerships • Partnerships with #1 food allergy advocacy organization

and #1 food allergy app • Media partnership with Mind Body Green

Print • Print ads in Thrive and Mantra magazines

2

UPCOMING: Integrated digital, print and experiential awareness campaigns this summer, fall, and around the holidays.

Awareness building Highlights


Load-to-card Offers distributed to targeted shopper apps among 12+ retailers.

Rebates JUST coupon/rebate tool Facebook “chat-bot" rebate campaign Ibotta Earth Month partnership Ibotta Folded launch

Mail Co-op FSI mailer to 29 million households

Sponsored Search Live on Instacart and 6+ retailers.

3

UPCOMING: Additional load-to-card offers, Ibotta promotions, November Co-op FSI, in-store demo’s, and e-commerce banners, offers, and sponsored search.

A better egg.

Save $1.50 on JUST Egg

CONSUMER: Limit one coupon per purchase of product indicated. Limit of two like

coupons in same shopping trip. Consumer pays sales tax. Coupon may not be bought,

reproduced, transferred or sold. No cash value. No cash back. Void where taxed, restrict-

ed or prohibited. May not be combined with any other o�er or promotion.

RETAILER: Eat JUST, Inc. will reimburse the face value of this coupon, plus 8 cents

handling in accordance with our redemption policy (copy available upon request). Void

where prohibited, taxed or restricted by law. Cash Value: 1/100¢. Mail coupons to:

Eat JUST, Inc. Mandlik & Rhodes, PO Box 490 Dept #1254, Tecate, CA 91980.

Exp: 06/30/2020MANUFACTURER COUPON 0191011-123150

Made from plants, JUST Egg is free of cholesterol and has a

93% smaller carbon footprint than conventional chicken eggs.

It’s a better egg, for you and the planet. Find out more at ju.st

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