Avocado Holiday Retail Recap HOLIDAYS & EVENTS Q3 2017 Avocado Holiday Retail Recap Father’s Day, 4th of July and Labor Day

Definitions This report looks at retail sales performance for the three holiday and event weeks* listed below: Father’s Day – week ending 6/18/2017 4th of July – week ending 7/2/2017 Labor Day – week ending 9/3/2017 Category: Avocados Geographies: Total U.S. Regions Retail POS data source: IRI / FreshLook *IRI data is provided in weekly increments, with each week ending on a Sunday. Weeks shown are the best fit for the holidays in this report. HAB's calculation is based in part on data reported by Information Resources, Inc. through its Freshlook Service for the Avocado category for Multi-Outlet (MULO). The information is believed to be reliable at the time supplied by IRI but is neither all-inclusive nor guaranteed by IRI. Without limiting the generality of the foregoing, specific data points may vary considerably from other information sources.

Father’s Day week ending 6/18/2017 Dad deserves the best and families and friends celebrated Dad with avocados this Father’s Day As prices rose, so did category dollars, hitting nearly $49MM – a four-year high!

Avocados deliver record dollar sales for Father’s Day Holiday Week Sales and Average Price by Year (Dollars and Units in millions) Dollars Units ASP Prepared by: Fusion Marketing Data Source: IRI / FreshLook Marketing While volume slipped slightly to under 37MM units, dollars soared to nearly $49MM on rapidly rising prices Source: IRI/FreshLook week ending 6/18/17

Strong dollar growth in all regions for Father’s Day Dollar Sales and % Change Nationally, Father's Day sales increased +18% vs. prior year and hit nearly $49MM All regions exhibited strong growth rates for Father's Day week, ranging from +9% in Midsouth to +23% in Great Lakes and South Central On average, avocado retailers saw Father's Day week sales of $545/per store Per store dollar sales were especially strong in California ($1,081) and West ($1,072) Total U.S. $48.7MM +18% Prepared by: Fusion Marketing Data Source: IRI / FreshLook Marketing Dollars per Store Selling Total U.S. Avg. = $545 Source: IRI/FreshLook week ending 6/18/17

Father’s Day volume trends varied greatly by region Unit Sales and % Change Nationally, avocado volume declined -4% to 37MM units during Father's Day week Volume trends ranged from a decline of -25% in Plains to a gain of +12% in Great Lakes On average, avocado retailers saw sales of 409 units per store during Father's Day week West, California and South Central sales rates exceeded the national average Total U.S. 36.6MM -4% Prepared by: Fusion Marketing Data Source: IRI / FreshLook Marketing Units per Store Selling Total U.S. Avg. = 409 Source: IRI/FreshLook week ending 6/18/17

Price increased significantly in all regions for Father's Day Total U.S. $1.33 +23% Great Lakes $1.32 +10% South Central $1.01 +13% Midsouth $1.44 +22% Southeast $1.49 +51% low high West $1.24 +24% California $1.33 +15% Plains $1.48 +61% Northeast $1.67 +23% Prepared by: Fusion Marketing Data Source: IRI / FreshLook Marketing Average price increased at double-digit rates for all regions, ranging from +10% in Great Lakes to +61% in Plains There was a wide range of prices across the regions, from a low of $1.01/unit in South Central to a high of $1.67/unit in Northeast Source: IRI/FreshLook week ending 6/18/17

Category dollars increased over +$7MM Dollar Growth by Region (in millions) Unit Growth by Region (in millions) All regions contributed to Father's Day week dollar growth of +$7.3MM, with West (+$1.4MM), South Central (+$1.3MM), Great Lakes (+$1.1MM) and Northeast (+$1.0MM) all exhibiting growth in excess of one million dollars South Central (+0.6MM) and Great Lakes (+0.5MM) were the only regions to grow units Source: IRI/FreshLook week ending 6/18/17

4th of July week ending 7/2/2017 Avocados are a quintessential part of holiday festivities. This year, Americans celebrated the 4th of July by purchasing nearly $50MM of the fruit – a four-year high 4th of July week retail dollar sales rose +10% vs. prior year

4th of July sales hit nearly $50MM Holiday Week Sales and Average Price by Year (Dollars and Units in millions) Dollars Units ASP Prepared by: Fusion Marketing Data Source: IRI / FreshLook Marketing While 4th of July volume receded vs. prior year, dollar sales reached a 4-year high at nearly $50 million Source: IRI/FreshLook week ending 7/2/17

All regions grew dollars for the 4th of July Dollar Sales and % Change Nationally, 4th of July sales reached nearly $50MM, an increase of +10% vs. prior year All regions exhibited growth, ranging from +5% in California and South Central to +23% in Plains On average, avocado retailers saw sales of $555 per store during the week of 4th of July California and West regions had per store dollar sales nearly double the national average Total U.S. $49.6MM +10% Prepared by: Fusion Marketing Data Source: IRI / FreshLook Marketing Dollars per Store Selling Total U.S. Avg. = $555 Source: IRI/FreshLook week ending 7/2/17

Volume trends were sluggish for the 4th of July Unit Sales and % Change At the national level, 4th of July volume fell -8% to just under 37MM units Great Lakes stood out with volume up +5%. In Southeast, units tumbled -21% for the holiday week On average, avocado retailers saw sales of 412 units per store during the week of 4th of July Per store sales in West and California regions were nearly double the national average Total U.S. 36.8MM -8% Prepared by: Fusion Marketing Data Source: IRI / FreshLook Marketing Units per Store Selling Total U.S. Avg. = 412 Source: IRI/FreshLook week ending 7/2/17

Average price skyrocketed in all regions for 4th of July Total U.S. $1.35 +20% Great Lakes $1.35 +11% South Central $1.04 +15% Plains $1.38 +23% Southeast $1.45 +47% low high West $1.31 +17% Midsouth $1.36 +16% California $1.41 +17% Northeast $1.60 +17% Prepared by: Fusion Marketing Data Source: IRI / FreshLook Marketing Average price for 4th of July ranged from a low of $1.04/unit in South Central to a high of $1.60/unit in Northeast Price increased at double-digit rates across all regions, most notably up +47% in Southeast Source: IRI/FreshLook week ending 7/2/17

All regions contributed to 4th of July dollar growth Dollar Growth by Region (in millions) Unit Growth by Region (in millions) Dollar sales increased nearly +$5MM nationally, with West contributing the largest amount, +$0.9MM to growth Great Lakes was the only region to grow units (+0.2MM) Source: IRI/FreshLook week ending 7/2/17

Labor Day week ending 9/3/2017 With summer winding down and back-to-school on people’s minds, avocados are a great fit for Labor Day Retail sales this holiday week increased +9% over prior year

Average price reached a four-year high for Labor Day Holiday Week Sales and Average Price by Year (Dollars and Units in millions) Dollars Units ASP Prepared by: Fusion Marketing Data Source: IRI / FreshLook Marketing Prices and dollar sales both hit 4-year high for this holiday. However, volume tumbled to under 30MM units Source: IRI/FreshLook week ending 9/3/17

Labor Day dollar sales grew across all regions Dollar Sales and % Change Nationally, Labor Day sales increased +9% vs. prior year to $46MM Sales increased across all regions, most notably up +13% in Southeast and +11% in West, Plains and Great Lakes On average, avocado retailers saw sales of $514 per store during the week of Labor Day Per store sales were especially strong in California ($1,079) and West ($990) regions Total U.S. $46.0MM +9% Prepared by: Fusion Marketing Data Source: IRI / FreshLook Marketing Dollars per Store Selling Total U.S. Avg. = $514 Source: IRI/FreshLook week ending 9/3/17

Labor Day volume tumbled in all regions Unit Sales and % Change Nationally, Labor Day volume declined -22% to 29MM units Units declined in all regions, including -30% in Southeast and -27% in South Central On average, avocado retailers saw weekly sales of 323 units per store California, West and South Central had per store unit sales above the national average Total U.S. 28.9MM -22% Prepared by: Fusion Marketing Data Source: IRI / FreshLook Marketing Units per Store Selling Total U.S. Avg. = 323 Source: IRI/FreshLook week ending 9/3/17

Average price climbed sharply for Labor Day Total U.S. $1.59 +39% Great Lakes $1.73 +23% South Central $1.26 +49% California $1.67 +34% Midsouth $1.58 +27% low high West $1.55 +44% Plains $1.61 +39% Southeast $1.71 +62% Northeast $1.76 +29% Prepared by: Fusion Marketing Data Source: IRI / FreshLook Marketing Nationwide, average price for Labor Day week was up +39% to $1.59/unit Price increased at double-digit rates for all regions, including up +62% in Southeast and +49% in South Central Source: IRI/FreshLook week ending 9/3/17

All regions contributed to Labor Day dollar growth Dollar Growth by Region (in millions) Unit Growth by Region (in millions) All regions contributed to Total U.S. dollar growth of +$3.6MM However, units declined in all regions and nationally and fell by over -8MM vs. prior year Source: IRI/FreshLook week ending 9/3/17