Iceland Snapshot, February 2019 Retailer performance Must see stores 2017 2018e % change Turnover (ex VAT) £2,973m £3,151m +6.0% No. of stores 905 938 +3.6% Space (sq m) 465,601 504,484 +8.4% Where Why Iceland, 4 The Pavement, Clapham, London, SW4 0HY Iceland Clapham is the first store to be transformed to reflect the modern image that the frozen retailer is rolling out. To view the store visit report, click here. The Food Warehouse, Phoenix Retail Park, Stafford St, Wolverhampton WV1 1NT The largest of the new format stores was rolled out in March 2018, offering innovative ranges and premium products at discount prices. This format is quickly being expanded. To view our Food Warehouse store visit report, click here. Source: IGD Research Trading priorities Your checklist to trade with Iceland Delivering ‘great everyday value’ Demonstrating compelling value credentials is core to Iceland’s strategy with a focus on round pound pricing Offering eye-catching short tem deals, particularly on brands, is key to driving footfall and basket size Range innovation Investment in new products and communicating quality to underpin the appeal of frozen food, dominated by own brand Iceland has expanded its premium private label range of groceries under its ‘luxury’ brand Building customer engagement A multi-channel strategy maximises the effectiveness of Iceland’s marketing budget The retailer first launched its #PowerofFrozen campaign on Twitter in 2015. The campaign is designed to transform the attitudes of shoppers, encouraging them to think more positively about frozen food. Multichannel strategy Plans to further expand the network of larger format Food Warehouse stores Changing perception by improving core store format in line with the Clapham refurbishment: the format is being rolled out nationally. A priority for Iceland’s online business is to make shoppers complete a “Full Shop With Iceland”. Iceland is selling its strengths such as frozen fish, meat etc but also fruit and veg. A bigger basket will help gain market share and make the operation more profitable. International expansion Main focus on expanding its store network in the Republic of Ireland Can your products demonstrate the mass market appeal and compelling value expected by Iceland customers? Does Iceland’s increasing willingness to include dedicated fixtures for brands in-store present opportunities? Can you work with Iceland to develop pack sizes that meet its preference for round pound price points? Does Iceland’s focus on enhancing the quality and uniqueness of its own brand offer present opportunities? Can you use the Bonus Card to promote your products? Does Iceland’s international expansion present opportunities for your business? © IGD 2019 Follow us on Twitter @RetailAnalysis

Iceland Snapshot, February 2019 New marketing initiatives See the full Iceland profile on Retail Analysis Read Selected key executives Latest developments When? What? So what? January 2019 Iceland: steady expansion in Norway Iceland has announced plans to open three new stores in Norway, according to Nettavisen. This comes after its initial launch of two in May 2018. Iceland shoppers rewarded for recycling Iceland shoppers earn more than £30k in reward for returning plastic bottles as the retailer updates on the first phase of its bottle returns trial. December 2018 Iceland’s online exclusive '12 deals of Christmas' Iceland is running an online exclusive promotion called '12 deals of Christmas' from Monday 10th December to Friday 21st December. A new product is put on promotion each day, with its strong value proposition being the key sales driver. November 2018 The Food Warehouse trials first Wine Warehouse The new Wine Warehouse is located in its Cheltenham store; formerly the site of a Whole Foods. At 27,000 sq ft, it is the largest store in the estate. Following an investment of more than £1.5m, Iceland has created an improved in-store experience to serve more shoppers. September 2018 Iceland launches vegan labelling Following the recent expansion of its plant-based range, Iceland is the latest supermarket set to launch a ‘suitable for vegans’ label across its private label offer. Name Title Malcolm Walker Chairman and CEO Tarsem Dhaliwal Group Managing Director Nigel Broadhurst Managing Director Richard Ewen Trading Finance Director Ewan McMahon Operational Director David Devany MD – Online Richard Walker MD – Food Warehouse © IGD 2019 Source: IGD Research