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Delivering Profitable & Sustainable Growth

Realising our vision to lead the way in bringing innovative, great-tasting, freshly prepared food to people around the world.

The elements of our strategy are described in more detail below:

1

UK: DRIVE RETURNS BY LEVERAGING OUR #1 MARKET POSITION

Our strategy in the UK is to leverage our #1 position in the fresh prepared food market to drive financial returns for the benefit of all its stakeholders

Our Key Drivers
  • Capitalise on our market insights, innovation capabilities and breadth of offer to develop products and propositions that delight our customers and consumers
  • Maximise the benefit of our scale to develop, prepare and distribute our products with a more efficient and sustainable use of resources
  • Pursue and capitalise on profitable growth opportunities that allow us to create value for our shareholders, whilst also reinvesting in our colleagues’ skills and competencies
2

INTERNATIONAL: ACCELERATE PROFITABLE GROWTH IN THE US AND CHINA

We have a strong and growing presence in the two largest food markets in the world, the US and China, where the Group has operated for over 10 years. We leverage our UK expertise to support our local teams and continue to deliver profitable growth.

Our Key Drivers
  • Invest in new capacity, manufacturing capability, knowledge and skills to expand our offering and meet the needs and increased demand from our customers
  • Broaden and strengthen our existing customer partnerships and develop new ones with customers that are committed to expanding their fresh food offer
  • Leverage our Group expertise and combine this with deep local knowledge to develop on-trend products, tailored to local tastes and under the highest safety standards
3

EXCELLENCE: DELIVER SUPERIOR PERFORMANCE THROUGH OPERATIONAL EXCELLENCE

Bakkavor continues to invest in its people and assets to generate operational efficiencies and maintain the highest technical standards and service levels

Our Key Drivers
  • Identify and deliver efficiency improvement opportunities across the Group through the deployment of our dedicated and highly skilled Operational Excellence team
  • Enhance productivity through a combination of automation investments and colleague training, with a particular focus on engineering skills
  • Uphold the highest standards of food and colleague safety in our operations for the benefit of our colleagues and the consumers of our products
  • Establish a resilient and efficient global sourcing platform through our dedicated teams in the UK, Spain and China
  • Maintain our market-leading service levels through timely and accurate deliveries
4

TRUST: BE A TRUSTED PARTNER FOR OUR COLLEAGUES, CUSTOMERS, SUPPLIERS AND WIDER COMMUNITIES

Our aspiration is brought to fruition by our Trusted Partner strategy, which covers our actions on issues across our supply chain, our own operations and in our workplaces and communities.

Our Key Drivers
  • Provide our colleagues with an environment where they feel valued, included and inspired to perform at their best
  • Support our customers with innovative freshly prepared products, best-in-class service, genuine insight and an open and constructive dialogue
  • Build and strengthen lasting relationships with our suppliers based on mutual respect, trust, collaboration and a commitment to do our best for our customers and consumers
  • Be a responsible partner that engages with, and has a positive impact on, our local communities and our planet
Learn more about Trusted Partner our ESG strategy here.