2016 GLOBAL MEETING © Voss of Norway AS

2016 GLOBAL MEETING OBJECTIVES Brand VOSS clarity Clear focus and priorities alignment Celebration of ongoing success and commitment to each other

VOSS HISTORICAL GROWTH… $97 $77.5 $62M $49M $42M $38M $32M $25M 2009 2010 2011 2012 2013 2014 2015 2016B

VOSS YTD REVENUE +15% +22% +9% +27% +6% VOSS World VOSS USA Total US OP US Retail International

LOOKING FORWARD TO… $133 $97 $77.5 $62M $49M $42M $38M $32M $25M 2009 2010 2011 2012 2013 2014 2015 2016B 2017B

*Units = Actual packages scanned VOSS V. PREMIUM PEERS DOLLAR & UNIT* SALES % CHG YA % Dollar Growth Latest 52 Week Premium Bottled Cat % Unit Growth 26.4% 21.2% 12.8% 3.1% 9.6% 14.4% 6.7% 9.5% 4.5% (39.0%) Source: IRI Infoscan, Total US MULO+C , Data Ending July 10, 2016 *Units = Actual packages scanned

KEY STRATEGIES Building the Voss Brand Winning in Focused Markets/ Owning Selling Optimizing Costs & Infrastructure Building the Voss Brand Creating a Winning Environment and Becoming an Admired Company Building the Voss Brand

KEY STRATEGIES Building the Voss Brand Winning in Focused Markets/ Owning Selling Optimizing Costs & Infrastructure Building the Voss Brand Creating a Winning Environment and Becoming an Admired Company Building the Voss Brand

VOSS BRAND AND COMPANY PILLARS

KEY STRATEGIES Building the Voss Brand Winning in Focused Markets/ Owning Selling Building the Voss Brand Creating a Winning Environment and Becoming an Admired Company Building the Voss Brand

VOSS FOCUS MARKETS

… … grows larger…

Olivia Marquaire March 25, 2016

Leo Sebastian Philippou June 22, 2016

2013

2016

ESTIMATED ANNUAL REVENUE ESTIMATED REVENUE PER EMPLOYEE

KEY STRATEGIES Building the Voss Brand Winning in Focused Markets/ Owning Selling Optimizing Costs & Infrastructure Building the Voss Brand Creating a Winning Environment and Becoming an Admired Company Building the Voss Brand

KEY STRATEGIES Building the Voss Brand Winning in Focused Markets/ Owning Selling Optimizing Costs & Infrastructure Building the Voss Brand Creating a Winning Environment and Becoming an Admired Company Building the Voss Brand

KEY STRATEGIES Building the Voss Brand Winning in Focused Markets/ Owning Selling Optimizing Costs & Infrastructure Building the Voss Brand Creating a Winning Environment and Becoming an Admired Company Building the Voss Brand

MIDTERM/IMMEDIATE LONG TERM VISION 2014-2017 Leading Super Premium bottled water company in the world $100-125 mm in revenue Competitive ROI (EBITDA return = 10%) Preferred brand status among customers Industry admired company LONG TERM VISION 2015 and beyond VOSS Group Leading international luxury/super premium branded company, winning in high value categories led by a multi-dimensional Brand VOSS

PROJECTIONS 378 282 202 133 97 (USD millions)

VOSS KEY INITIATIVES GOING FORWARD 2016 BOY THROUGH 2020 People and Organizational Development Distribution and RTM Upgrade Brand Equity Top Spin Leverage on All Fixed Costs Retail / Multipack Development Brand VOSS On Premise Consumption in Day Part VOSS China Integration

KEY STRATEGIES Building the Voss Brand Winning in Focused Markets/ Owning Selling Optimizing Costs & Infrastructure Building the Voss Brand Creating a Winning Environment and Becoming an Admired Company Building the Voss Brand