Better Dairy. Better World. North Central Cheese Industries Association Annual Conference Presented By: Tim Czmowski Agropur inc. Vice-President, Midwest US Operations October 9, 2019 Better Dairy. Better World.

AGROPUR OVERVIEW

Highlights Founded Members Employees 8,354 Milk Processed Plants 39 1938 Granby, Qc 87 founding members Members 3,290 (all milk producers) Employees 8,354 Canada 6,057 USA 2,297 Milk Processed 13.9 B Pounds Annually Plants 39 Canada 28 USA 11 Head Office St-Hubert, Qc 3

Boldness Collaboration Excellence Communication Integrity Values — Demonstrating courage and creativity in a constantly changing world Collaboration — Working together in a spirit of trust and cooperation Excellence — Transcending the rest to be the best Communication — Sharing information to ensure informed decisions Integrity — Acting diligently and honestly 4

Manufacturing Footprint 11 Fluid milk / fresh products plants 2 Yogurt plants 4 Ice cream plants 7 Cheese plants 4 Ingredients plants 2 Fluid milk / fresh products plants 7 Cheese plants 2 Ingredients plants Fluid Milk / Fresh plant Yogurt plant Ice cream plant Cheese plant Ingredients plant Head Office 5

A History Through Mergers & Acquisitions Sales evolution 147 mergers & acquisitions completed since 1941 US Acquisitions Since 2008 Trega Schroeder Farmland Green Meadows Foods Mainstreet Ingredients Foremost Davisco Foods International Acquisitions in Canada Ingredient blend Acquisitions in the USA Milk processing assets UHT Plant So far in 2018 6

Consolidated Sales and Milk Processed by Country 7

National and International Development The largest dairy cooperative in Canada US Operates as a Corporation Agropur on a international level The 7th largest processor in North America** The 5th largest Cheese Manufacturer in the United States The 12th Largest Dairy Company Globally Sales / representative offices Geneva Shanghai Mexico City Singapore 8

AGROPUR US OPERATIONS

Whey Ingredient Plants Fluid Milk Plants Whey Ingredient Plants Grand Rapids, MI - Milk St. Paul, MN – Schroeder Milk LaCrosse, WI – Agropur Ingredients Nicollet, MN – Whey Drying …and 7 Cheese Plants!

Little Chute, WI

Weyauwega, WI

Luxemburg, WI

Le Sueur, MN

Jerome, ID

Hull, IA

Agropur – Lake Norden, SD 17

Growing the I-29 Corridor Location Lake Norden, SD (Formerly Davisco Foods Intl.) Past capacity 3.3 Million lbs of milk daily Expansion design capacity 9.3 Million lbs of milk daily Plant Expansion will generate an additional $1 Billion in annual Economic Impact for the region

Agropur Lake Norden - Future

Construction Video August 9, 2018

Agropur Lake Norden Plant Picture

Lake Norden, SD Cheese Types: Mozzarella, Provolone, Parmesan, Romano, Asiago, Monterey Jack, Muenster & Cheddar Ingredients Produced: Whey Protein Concentrate, Deproteinized Whey, Sweet Dairy Whey and Lactose

Change in milk production density 2000 – 2012 Dairy Demand is Growing Change in milk production density 2000 – 2012 Growth Decline *Source: Dr. Mark Stephenson 24

Plant Tour

Growing the I-29 Corridor Addition of approximately 136 Jobs with 24/7 Operations Produce 25 Semi Loads of Cheese per day Produce 13 Semi Loads of Whey Powder per day Construction Began October 2017 and First Production was on March 20, 2019

Takin Care of Business