© Voss of Norway AS www.vosswater.com 2019 RETAIL FLAVORED SPARKLING SELL DECK © Voss of Norway AS www.vosswater.com

FLAVORED SPARKLING SEGMENT - SALES GROWTH Flavored Sparkling is seeing strong growth across all channels FOOD channel especially strong given size ($1321M) and growth (+21%) % Change in $, Units Mulo + C Food Drug Cstore SOURCE: IRI, L52 Ending 8/12/18

FLAVORED SPARKLING - SHARE OF BOTTLED WATER Flavored Sparkling, at 20% of Units, continues to gain share of total Bottled Water category $2142M Sales (+$330M vs. YA) 1374M Units (+108M vs. YA) L52 % Share $577M 262M $2142M 1374M SOURCE: - IRI Multo + C, L52 ending 7/15/18

VOSS FLAVORED SPARKLING GROWING AHEAD OF SEGMENT VOSS Flavored Sparkling is growing over 2x the segment in MULO+C In FOOD, VOSS growing at +33% (Units) vs. +11% for Segment Growing 2x the Segment in $ at +41% vs. +21% VOSS $ growth rate is also far outpacing the Segment in Drug (+336% vs. +14%) SOURCE: IRI, L52 Ending 8/1218

VOSS FLAVORED SPARKLING – SHARE OF VOSS PORTFOLIO VOSS Flavored Sparkling is now 15% of VOSS Total $, 18% Units Up +11% and +12% vs. prior year New 4-Packs growing rapidly, making up 10% of Flavored Sparkling $ (L12 Wks) L12 Wks also account for near 60% of 4-Pack $ $2.4M $7.3M $37.2M SOURCE:- IRI Mulo+C L52 Ending 8/12/18, L12 Wks Ending 8/12/18

SUPER PREMIUM DRINKERS – STRONG INTEREST IN VOSS FLAVORED SPARKLING High interest in purchasing a Branded VOSS Flavored Sparkling product among both VOSS Users and Non-VOSS Users Q. Thinking about the following brands, which products would you be interested in purchasing if that brand offered products in this category? Base: Regular Voss Users n=205; Non-regular Voss Users n=631 Capital letters indicate significant differences at the 95% CL

VOSS FLAVORED SPARKLING MULTIPACKS Multi-Pack Purchase Intent THEY ALSO WANT VOSS FLAVORED SPARKLING MULTIPACKS 67% of Super Premium Water Drinkers want to buy VOSS Multi-packs With Multi-Unit Promos seeing sizable increases in units sold Multi-Pack Purchase Intent (Definitely Would/Probably Would Purchase) In the #1 US Grocery chain, VOSS multiple unit sale on promotion showed a 33-55% increase in the number of units sold. Source: A&U with consumer segmentation Study among premium water consumers, by Incite June 2017. Kroger 2017 Promo.

VOSS FLAVORED SPARKLING SUPER PREMIUM LEADER AND OUT PACING PERRIER VOSS far outpacing Perrier in Unit, $ and Distribution growth for L52 VOSS % growth advantage even higher in L12 (+15% VS. +4% $) San Pellegrino just introduced Flavored Sparkling Water (present offering is a soda) Only other Premium Sparkling Flavored is Icelandic, where VOSS is 10x its size (Points of Distribution) SOURCE: IRI L52 Ending 8/12/18

VOSS FLAVORED SPARKLING - SHARE BY FLAVOR LEMON CUCUMBER: 1st flavor launched, remains largest at 46% LIME MINT: Newest flavor, growing fast with share up to 19% in L12 TANGERINE LEMONGRASS: 35% of $ 2 BERRY Flavors will provide incremental sales SOURCE: IRI MULO+C, L52 and L12 ending 8/12/18:

Capitalizing on the Success of Our Flavored Sparkling Line with New Flavors and an Enhanced Look

375ml Glass Line Expansion- 2 New Flavors FLAVORED SPARKLING 375ml Glass Line Expansion- 2 New Flavors Capitalize on strength of VOSS Flavored Sparkling, up +60% (L4W) Acceleration of Berry flavor growth, up +66% L4W Addition of Strawberry Ginger & Raspberry Rose All 5 flavors avail in singles and 4-packs Timing – Start Ship from VOSS US Warehouses Jan 2019 NEW FLAVORS DELIVER: Unique, on Trend Flavor Combinations, Appealing to VOSS Consumer Berry Combinations round out Current Citrus Offerings 0 Calories, O Sugar Natural Flavors No Artificial Ingredients Strawberry Ginger 375ml Glass Raspberry Rose 375ml Glass VOSS is rounding out its existing flavor offerings, all of which are currently Citrus, with two berry line extensions – Strawberry Ginger & Raspberry Rose. This creates a more robust, comprehensive portfolio, and makes berry options available, which are seeing great pull at the consumer level in the flavored sparking category The flavor combinations, pairing with Ginger & Rose, are also both on trend, and create a unique, premium point of difference for these berry offerings vs. the competitors in the space Like all VOSS flavors – they are 0 cal, 0 sugar & contain nothing artificial SOURCE: IRI L4WK 8/12/18

VOSS FLAVORED SPARKLING - SMART NEW FLAVOR SELECTION Adding 2 “Berry” Flavors: highly desired, with plenty of room to grow SOURCE:

VOSS FLAVORED SPARKLING LINEUP VOSS 5 Flavors are very much on trend, with unique combinations appealing to Consumers Lemon Cucumber Lime Mint Tangerine Lemongrass NEW Raspberry Rose NEW Strawberry Ginger

VOSS FLAVORED SPARKLING 2019 Pricing and Specs SPECS 375ml Glass Sparkling Flavor 375ml Sparkling Glass Sparkling Flavor 4 Pks 330ml PET Sparkling Flavor 6 Pks Size 375ml (12.7 fl.oz.) 375ml 4 Pack (50.8 fl.oz.) 330m 6-Packl (66.9 fl.oz. Bottle/Units/Case 12 Botttles 6 x 4pk = 24 Bottles 4 x 6pk= 24 Bottles Pallet Pattern 5 x 26= 130 cs. 5 x 13= 65 cs. 13 x 8= 104 cs. Pallet Dimensions 48’”L x 40”W x 52” H 47.2”L x 39.3’W x 51” H 47”L x 39”W x 62” H Pallet Weight 2,380 lbs. (incl. Pallet) 2,415 lbs. (incl. Pallet)? 2,225 lbs. Pallets/Truck (Container) 19/truck (22/Container) 19/Truck (22/Container) Case Weight 18 lbs. 36.44 lbs. 20.9 lbs. Case Dimensions 9.125”L x 7”W x 9.25” H 14.21”L x 9.56”W x 9.56” H 14.09”Lx9.29”Wx7.07”H Bottle/Unit Dimensions 2.125”D x 9” H 4.52”L x 4.56”W x 9.29” H 6.92”L x 4.48”W x 6.71”H

VOSS FLAVORED SPARKLING Placement Guidelines Category groups by: type, size, flavor, segment. Place VOSS Flavored Sparkling with Unsweetened Sparkling Flavored , adjacent premium brands and at eye and reach levels. Single Bottle Section Shelf # Min. # Face Multi Pack 375ml Glass Unsweetened Sparkling Flavored #4-5 2 per flavor #2-5 1 per flavor 330ml Pet 6 Pk - Unsweetened Sparkling Flavored Sweetened Sparkling Flavored Sparkling

APPENDIX

Existing Flavors Label Update – 375ml Glass FLAVORED SPARKLING Existing Flavors Label Update – 375ml Glass Provides Cohesion with new flavors Stronger color cues and Product benefits called out on front panel Increased concentration of creative on back panel so branding pops 4 Pack containers will compliment new bottle design Timing – Soft Transition Beginning January 2019 – NO UPC CHANGE To create cohesion with the new flavors, VOSS is updating the label graphics on its existing flavors to deliver better shelf standout These will include a colored flavor cue on the front panel, and more concentrated creative on the back to allow the VOSS branding to pop. This will be a soft transition, with no change to UPC Tangerine Lemongrass Lime Mint Lemon Cucumber