Business Report 2022

INTRO

04 WELCOME

CONTENTS

08 PRINCES

24 DOING THE RIGHT THINGS

58 OUR BRANDS

10 About Princes

26 Corporate Social Responsibility

60 Innovation at Innov8

12 Offices and Operations

28 Our Princes Our People

62 Princes Brand

14 Our Vision

30 Health & Wellbeing Programme

64 Napolina

15 Business Strategy

32 Inclusion & Diversity and Ethnicity

66 Crosse & Blackwell

16 People Excellence

34 Social Sustainability

68 Branston

18 Manufacturing Excellence

36 Celebrating Our Progress

68 Love Canned Food

22 Customer & Consumer Focus

38 Helping Shoppers

70 Batchelors & Farrows Peas

40 Climate Change & The Environment

72 Jucee

42 Carbon Emissions

74 Edible Oils

44 Deforestation

76 Princes Brand Europe

46 Plastic & Packaging

78 Weilkoposlski

48 Seafood Sustainability

80 Vier Diamanten

06 MITSUBISHI About Mitsubishi Corporation

Message from our MD

50 Food Waste 52 Healthy Food, Healthy Life 54 How Are We Doing

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WELCOME Princes MD, Cameron Mackintosh reviews our year and also highlights extensive future goals, for the company, our customers and consumers

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2022 IN REFLECTION

CONSUMER-LED INNOVATION

Against the backdrop of unprecedented inflationary pressures and supply chain disruption, 2022 was undoubtedly a tumultuous year for the food industry.

Following the 2020 launch of our Innov8 strategy, we’ve evolved our approach to new product development with the support of a dedicated innovation team embedded across the business. This has enabled the introduction of exciting new products and entry into new categories through ranges such as our frozen Princes Street Food sub-brand.

The ongoing impacts of global events such as the Covid-19 pandemic and the conflict in Ukraine have been severe and farreaching. However, as our industry and Group responds and adapts to change, we are also transforming our business to build a more resilient future and continuing to play an important role in delivering affordable, nutritious food and drink to hard working families.

Against this backdrop, our operations team have concluded a long-term investment programme at our Long Sutton, Cardiff and Erith manufacturing sites, adding capacity and capability and I pay tribute to them and our partners for managing these large projects through such challenging times.

Marking our first foray into the frozen category, Princes’ new portfolio of marinated chicken kebabs is inspired by street food flavours from around the world – also a first for the frozen aisle, which responds to growing consumers interest in authentic food from global cultures. Princes has also entered the mixers category with a trio of blended juice drinks, Skinny Mixers, tapping into increased consumer demand for alcohol free alternatives.

This is a very exciting time as we continue to expand the Innov8 initiative, driving long-term growth and offering a real point of difference for UK consumers and our customers.

ADVANCING SUSTAINABILITY ACROSS OUR SUPPLY CHAINS Driving sustainable action across key supply chains, including Italian tomatoes and tuna, also remained a key focus.

For almost 10 years, Princes has been advancing social sustainability in its tomato supply chain in southern Italy, where migrant workers are often exposed to exploitation practices driven by illegal gangmasters.

We built on this work in 2022 by establishing a new partnership with Oxfam Italy, to develop a robust training framework for our growers and their workers.

This involves schemes to provide training on labour rights, ethical practices, as well as access to a ‘help desk’ service for workers employed in the fields. The progress we’ve made in Italy was also recognised by the United Nations High Commission for Refugees (UNHCR) which awarded Princes the Welcome. Working for Refugee Integration logo for our modern slavery victim support scheme – “Lavoro Senza Frontiere” (Work Without Borders).

Within our tuna supply chain, we achieved our ambition to responsibly source 100% of all branded tuna across the Group, and took our sustainable seafood commitments another step further, announcing an ambitious roadmap to source and sell all UK Princes branded tuna from Marine Stewardship Council (MSC) certified sustainable fisheries by the end of 2025.

Supporting the ongoing decarbonisation of our operations through our ‘2030GreenGoals’ initiative, we have also established a partnership with new bio plant venture, Energie des Mascareignes (EDM), which will reduce CO2 emissions by 8,650 tonnes per year at our tuna processing facilities, Princes Tuna Mauritius (PTM). This represents 80% of the current operational emissions for PTM’s largest manufacturing site and will be achieved by starting to convert all semi-solid waste from PTM sites, alongside effluent water, into biogas via anaerobic digestion from 2023 onwards.

A PEOPLE-FIRST APPROACH In line with our people-first approach and our ambition to become an Employer of Choice, Princes has made significant strides against its Our Princes Our People strategy, with a strong focus on learning and development, health and wellbeing, and diversity and inclusion throughout 2022.

These developments have involved the launch of a new Health & Wellbeing Programme that recognises the important balance across emotional, physical and financial wellbeing.

The Programme was introduced with a real focus on emotional wellbeing and has seen the successful expansion of the Princes Mental Health First Aider (MHFA) programme across all six of our manufacturing sites in the UK, and our head office in Liverpool. With 70+ colleague volunteers now accredited MHFAs, plans are in place for an international roll-out. By listening to colleagues and working to support them to achieve a better work life balance, we have also reviewed and implemented new Family Friendly benefits and rewards along with (in the UK) new menopause, fertility, and pregnancy loss policies.

This work is also being recognised externally, with our very own Joe Dent, Chief People Officer, ranked by HR Magazine as one of the UK’s 35 most influential players in the field of people strategy in 2022 – a very proud moment for us all.

LOOKING FORWARD From advancements in our sustainability and innovation journeys, to the completion of major investment projects and the evolution of our people policies, Princes is making important progress across all areas of the business and within our supply chains.

While navigating ongoing industry headwinds, we are well-positioned for the future and looking forward to continuing to work towards our vision of proudly helping families to eat well without costing the earth.

MANAGING DIRECTOR

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Mitsubishi Corporation (MC) is a global integrated business enterprise that develops and operates businesses together with its offices and subsidiaries in approximately 90 countries and regions worldwide, as well as a global network of around 1,700 group companies.

ABOUT MITSUBISHI CORPORATION

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MC HAS 10 BUSINESS GROUPS THAT OPERATE ACROSS VIRTUALLY EVERY INDUSTRY • Natural Gas • Industrial Materials • Petroleum and Chemicals • Mineral Resources • Industrial Infrastructure • Automotive and Mobility • Food Industry

CONTRIBUTING TO SOCIETY THROUGH BUSINESS FIRMLY ROOTED IN PRINCIPLES OF INTEGRITY AND FAIRNESS Princes is a wholly - owned subsidiary of Mitsubishi Corporation since 1989 The Three Corporate Principles - Corporate Responsibility to Society; Integrity and Fairness; and Global Understanding Through Business - have served as Mitsubishi Corporation’s core philosophy since the company’s inception, inspiring us to continually improve the way we address our economic, environmental, and social responsibilities around the world.

Building upon the foundation of these Three Corporate Principles, our Corporate Standards of Conduct establish the Company’s expectations with regard to how business should be conducted, while the Mitsubishi Corporation Code of Conduct provides guidance to our employees worldwide based on local laws and global standards such as the Universal Declaration of Human Rights and the ILO Core Labour Standards.

Furthermore, our Environmental Charter and Social Charter also provide further guidance in relation to our sustainable business endeavours.

• Consumer Industry

“Shoki Hoko”

• Power Solution

Corporate responsibility to society Strive to enrich society, both materially and spiritually, while contributing towards the preservation of the global environment.

• Urban Development Through these 10 Business Groups, MC’s current activities have expanded far beyond its traditional

“Shoji Komei”

trading operations to include project development, production and manufacturing operations, working in collaboration with our trusted partners around the globe. With an unwavering commitment to conducting business with integrity and fairness, MC remains fully dedicated to growing its businesses while contributing to a prosperous society.

Integrity and fairness

The modern day interpretation of the Three Corporate Principles, as agreed on at the Mitsubishi Kinyokai meeting of the companies that constitute the so-called Mitsubishi group in January 2001

Maintain principles of transparency and openness, conducting business with integrity and fairness.

“Ritsugyo Boeki” Global understanding through business.

Expand business, based on an all-encompassing global perspective.

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PRINCES

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10

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ABOUT PRINCES

OFFICE AND OPERATIONS

OUR VISIONS

BUSINESS STRATEGY

PEOPLE EXCELLENCE

MANUFACTURING EXCELLENCE

CUSTO CONS FOCU

OMER AND SUMER US

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ABOUT P

We’ve been proudly feeding

1880 Founded in Liverpool by William Muirhead Simpson and Frank Roberts 1915 World’s largest exporter of lobsters 1946 Opened first factory for canned foods 1960 Opened in the Netherlands 1989 Acquired by Mitsubishi Corporation 1991 Princes enters the soft drinks category through acquisition of Bradford site 1999 Princes acquire Mauritian tuna operation 2001 Acquire Napolina and Shippam’s 2005 Aquire cooking oil brands, forms Edible Oils Limited (a joint venture with Archer Daniels Midland)

2010 Open Polska office, expand edible oils to Europe

£1.435 BILLION IN REVENUE | 11 SITES WO 2,000+ DIRECT SUPPLIES | 3,500 DIFFERENT FOOD & DR 10

PRINCES

g families for over 140 years

2011 P rinces expands canning operations with acquisition of brands including Crosse & Blackwell and major production sites at Long Sutton and Wisbech

2012 Princes Industrie Alimentari S.r.L. (PIA) created. Processing factory in Foggia, Italy acquired

2015 Princes Tuna Mauritius (PTM) enlarged tuna processing operation in the Indian Ocean region

2017 New Business Strategy; Customer and Consumer Focus, Operational Excellence, People Excellence

2018 Major investments at Long Sutton and Cardiff announced 2019 New Vision: Proudly helping families to eat well, without costing the earth.

Major investment in renewal of the Princes brand

2020 C OVID-19 global pandemic. Partnership with KICR and invested in state-of-the-art Innovation Centre

2021 Princes are proud to win the Grocer Gold Award for Employer of the Year 2022

Princes diversifies into frozen food with launch of street food range

40+ COUNTRIES RINK PRODUCTS | ALMOST 7,000 COLLEAGUES GLOBALLY

ORLDWIDE | SOURCE FROM

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OFFICES & O

OFFICES We have offices in Liverpool (UK), Foggia (Italy), Warsaw (Poland), Rotterdam (Netherlands) and Mauritius.

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We have two food sites in the UK, a tomato processing site

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in Italy and two tuna processing sites in Mauritius.

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IVE E R

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RO Y

Edible Oils Ltd (EOL) and Edible Oils Polska SP.Z.O.O are joint ventures between Archer Daniels Midland (ADM) and Princes Ltd. They are major suppliers of branded and customer own brand bottled oils and white fats in the UK and Europe.

E IC O

EDIBLE OILS

ED

OL, IN

We’re a leading supplier of soft drinks, with three production sites in the UK, a portfolio of major brands and production facilities for customer own brand products.

BAS

LIV ER

SOFT DRINKS

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OPERATIONS PRINCES’ HERITAGE IN PRODUCTION DATES BACK TO 1946

1 2 11 3

5 7

8

13

4

6

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We now operate eleven state-of-the-art food and drink production sites within the UK as well as international facilities for processing tomatoes, tuna and oils which are based in Italy, Mauritius and Poland, with commercial sites across the globe.

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OFFICES DRINK SITES FOOD SITES OIL SITES 1. GLASGOW 2. BRADFORD 3. CARDIFF 4. WISBECH 5. LONG SUTTON 6. ERITH 7. BELVEDERE 8. SZAMOTULY, POLAND 9. PRINCES TUNA, MAURITIUS

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10. FOGGIA, ITALY 11. LIVERPOOL, HEAD OFFICE

12. PRINCES FOODS B.V, NETHERLANDS 13. PRINCES POLSKA, WARSAW, POLAND

MAURITIUS

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OUR VISION AND HOW WE’RE ACHIEVING IT

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Sustainable & Profitable Growth

Customer & Consumer Focus

Sourcing our Raw Materials

We run our business responsibly, ethically, and efficiently in order to continue to grow and thrive.

Our products reach millions of people and we continue to build on our strength as a trusted partner by doing things the right way and focussing on consumer needs and wants.

Princes have a wealth of experience and we work closely with our Supply Chain to provide great tasting food and drink, ethically.

Employer of Choice

Innovation

We work together to create a real sense of purpose and pride, celebrating achievements.

Embracing consumer insight and evolving through innovation - our operating environment is fast paced, and we keep ahead of consumer demand.

Proudly helping families to eat well, without costing the earth.

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Customers and consumers are firmly at the heart of everything we do.

We help families to eat well.

We also focus on environmental and social sustainability throughout our supply chain – “from field to fork”.

Operational Excellence We ensure that we’re agile to respond to changing customer demands through innovation, by transforming operations; simplifying systems and processes, investing in equipment and rationalising assets to either remove or

utilise spare capacity.

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People Excellence We want existing colleagues in Princes to be proud to represent us and new people to make us their ‘Employer of Choice’. We recruit excellent people, who are customer and consumer focussed and embrace a performance culture.

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BUSINESS STRATEGY

OUR PEOPLE, CUSTOMERS AND CONSUMERS ARE AT THE HEART OF OUR BUSINESS Customer and Consumer Focus

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PEOPLE EXCELLENCE OUR PEOPLE EXCELLENCE STRATEGY IS BROUGHT TO LIFE THROUGH ‘OUR PRINCES OUR

PEOPLE’ – A PHILOSOPHY BUILT ON A CULTURE OF MUTUAL RESPECT AND RESPONSIBILITY

We want everyone to feel that they belong to something special at Princes and share a commitment to long-term excellence in everything we do.

No matter where our people are in the world, we have a common purpose in striving to achieve our vision to ‘proudly help families to eat well without costing the earth’.

By actively championing inclusion, diversity and innovation we want to make Princes a great place to work. A place where everyone of us matters and can make a difference and where our colleagues feel inspired and engaged to achieve great things.

Driving continuous, sustainable change is integral to the business’s aspiration to create a modern, dynamic, high-performance environment – and in that our commitment to become An Employer of Choice is unwavering.

CAREERS WITH PRINCES VISIT:

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With a robust and articulated Colleague Value Proposition (CVP), we have challenged ourselves to openly and honestly demonstrate the steps we are taking towards deep and lasting cultural change across Princes.

And while we can reflect on (and celebrate) some real and positive step changes since we launched ‘Our People Our Princes’ in November 2020 there does of course remain much to accomplish – not least our challenge to embed consistency across the Group regardless of geographical location.

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MANUFACTURING EXCELLENCE WE PRODUCE OVER

ONE BILLION CANS OF FOOD A YEAR

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PRINCES SPECALISES IN SOURCING QUALITY PRODUCTS AND INGREDIENTS FROM AROUND THE WORLD

We also produce food and drink products across our state-of-the-art production sites.

Through an efficient international supply chain, we deliver products to retail, wholesale, food service and industrial customers and our brands and products are enjoyed by millions of people every day.

WISBECH

LONG SUTTON

RICHE TERRE

MARINE ROAD

FOGGIA

Home to our food site in Cambridgeshire, producing canned products including baked beans, pulses, pasta, soup. The site is also a purchaser of locally grown produce.

Located in rural Lincolnshire, this is our largest food production site in the UK. They produce baked beans, vegetables, fruit, pulses, pasta and meatballs in can sizes from 200g to 3kg. The site is also a major purchaser of locally grown British produce from independent farms.

Princes Tuna Mauritius (PTM) is one of the most technologically advanced tuna processing facilities in the world.

It was the first global supplier of canned tuna to hold the SA8000 certification for social accountability, marking an international standard in working conditions and practices.

PTM Marine Road produces tuna loins for export to canneries and pouches for foodservice and industrial customers. The PTM sites provide a strong base from which to compete in the global tuna market and drive sustainability initiatives in the Indian Ocean region.

This site is the largest tomato processing facilities in Europe. The 120,000sq meter factory has the capability to process in the region of 300,000 tonnes of fresh tomatoes annually.

The vast majority of fresh tomatoes used at Foggia are delivered within 6 hours from harvesting.

ACCREDITATIONS:

ACCREDITATIONS:

ACCREDITATIONS:

ACCREDITATIONS:

ACCREDITATIONS:

• ISO 45001

• MSC Chain of Custody

• MSC Chain of Custody

• ISO 22.005:

• ISO145001

• ISO 14.001

• SA8000 certified

• UNI 11.233

• BRC Global Standard AA+

• IFS – Higher Level

• BRC Grade AA+

• Member of SEDEX

• BRC Global Standard AA+

• IFS Higher level

• Member of SEDEX

• Sedex member - SMETA 2 Organic

• ISO45001 • ISO40001

• ISO 40001

• BRC Global Standard for Food Safety AA

• BRC Global Standard for Food Safety A

• Member of SEDEX • Soil Association certified • Roundtable on Sustainable Palm Oil Certified

• Member of SEDEX • Red Tractor certified • Soil Association certified

• SA8000 certified • IFS – Higher Level • LABTRUST Laboratory Accreditation

• ISO 9001

• Roundtable on Sustainable Palm Oil Certified

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GLASGOW

BRADFORD

CARDIFF

Glasgow supplies major retailers with canned soft drinks through the use of a high-speed efficient production line. Our team in Glasgow has expertise in UK and international markets. The site has achieved a range of accreditations as a high quality and efficient factory.

This is our largest UK soft drinks production site and leading producer of customer own brand still and sparkling soft drinks, offering a large variety of flavours and pack formats. Bradford is our centre of excellence for fruit squash, manufacturing products for our Jucee brand, we also produce a wide range of customer own brand squash.

The Cardiff site is a centre of excellence for chilled and ambient juice manufacturing. Covering both Princes and customer own brand products with format sizes which include both 1&2 litre in the chilled range plus 1 litre & mini in the ambient range.

ACCREDITATIONS:

ACCREDITATIONS:

ACCREDITATIONS:

• ISO45001

• ISO45001

• ISO45001

• ISO14001

• ISO14001

• ISO14001

•B RC Global Standard for Food Safety A

• BRC Global Standard for Food Safety AA+

• BRC Global Standard for Food Safety A+

• L aboratory Accreditation CLC (Complete Laboratory Compliance)

• Laboratory Accreditation Exova

• Laboratory Accreditation CLAS

• Member of SEDEX

• Member of SEDEX

• Member of SEDEX

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• Organic and Fairtrade certification

Princes’ international scope is combined with a focus on strong corporate governance and technical compliance as well as a dedication to quality and customer service

ERITH

BELVEDERE

SZAMOTUŁY

Having undergone £21m of investment which introduced new capabilities and capacity, the Erith is the hub of our seed oil production. It is located adjacent to one of the largest seed oil crushing and refining establishments in Europe, owned by our Joint Venture partner, ADM. Bottling Crisp ‘n Dry, Flora, Mazola plus customer own label products.

As the UK’s leading olive oil and speciality production facility, the site packs various oil types from extra virgin olive oil through to solid coconut oil across customer own label and branded products. With a world class accredited laboratory, the site manufactures brands such as Napolina, U:ME, Olivio, in addition to multiple customer brands.

Located in the Polish North West region of Wielkopolska, Szamotuły is the newest addition to the Edible Oils portfolio, producing branded and customer own brand rapeseed oil. The site is fully integrated with an adjacent refinery complex. The site serves customers across Eastern Europe.

ACCREDITATIONS:

ACCREDITATIONS:

ACCREDITATIONS:

• ISO45001

• ISO45001

• IFS – Higher Level

• ISO14001

• ISO14001

• Member of SEDEX

• BRC Global Standard For Food Safety A+

• BRC Global Standard for Food Safety AA+

• Kosher

• CLAS

• Member of SEDEX

• CSQA for Balsamic Vinegar • Organic certification • Fair Trade Certification • Member of SEDEX

Proudly helping families to eat well, without costing the earth

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CUSTOMER AND CONSUMER FOCUS WE HAVE AN EXTENSIVE BRAND PORTFOLIO AND A PROUD HISTORY OF MANUFACTURING CUSTOMER OWN BRAND PRODUCTS, THAT’S WHY WE STAY CLOSE TO OUR CUSTOMERS AND CONSUMERS, TO BETTER UNDERSTAND THEIR NEEDS, PUTTING THEM AT THE HEART OF OUR BUSINESS

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BRAND

INNOVATION

As well as being one of the UK’s leading grocery brands, Princes owns a portfolio of other household food and drink brands, in addition to producing and distributing others under licence. Today’s consumers interact with businesses and brands in a much more personal way. We must appeal to consumers not only on a rational level but also to their emotions. They need to feel good about the products they buy. Consumers also expect the products they buy to reflect their own unique values and they want to know more about what is in their food and drink. That’s why we stay close to our customers and consumers, to better understand their needs and wants, putting them at the heart of our business.

We’ve made a significant investment in our Innov8 by Princes team, including our senior development chef. The focus is on brand creation, product design and development, packaging, commercialisation and channel strategy. This rapid end-to-end innovation process places our consumers and consumers at the heart of new product development.

SUSTAINABILITY The importance we place on sustainability is critical for our customers and whether they stock our brands or trust us to manufacture their brands, this never wavers. Whether it’s in seafood sourcing, reducing plastics and packaging, tackling food waste or addressing human rights issues, global food and drink supply chain challenges are common across industry and we take a partnership approach with customers in establishing areas for improvement, sharing findings and insights or working towards shared targets. Our teams work closely with their counterparts at across our customer base to ensure our sustainability approaches are aligned and to ensure we are on track to meet or exceed their needs. This shared approach and collaborative way of working has become the norm in our industry and is only going to increase as we transition to a next zero carbon future

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DOING THE RIGHT T

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CORPORATE SOCIAL RESPONSIBILITY

OUR PRINCES OUR PEOPLE

SOCIAL SUSTAINABILITY

CLIMATE CHANGE & THE ENVIRONMENT

CARBON EMISSIONS

DEFORESTATION

PLAST PACKA

THINGS

TIC AGING

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50

52

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SEAFOOD SUSTAINABILITY

FOOD WASTE

HEALTHY FOOD HEALTHY LIFE

HOW ARE WE DOING

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CORPORATE SOCIAL RESPONSIBILITY CORPORATE SOCIAL RESPONSIBILITY (CSR) IS FUNDAMENTAL TO OUR BUSINESS, NEVER SEEN AS A PROJECT OR UNDERTAKEN FOR THE SAKE OF COMPLIANCE, BUT BECAUSE WE KNOW IT’S THE RIGHT THING TO DO. Our Group vision of ‘Proudly helping families to eat well, without costing the earth’ not only reflects the business we aspire to be, but the existing passion and commitment of our colleagues, demonstrated daily, to becoming a truly sustainable business.

The activity we undertake to improve our CSR credentials, falling in line with 8 UN Sustainability Development Goals, where we believe we can make a difference.

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To be a carbon neutral manufacturer by 2030

Redu a man sit

Average of 46% recycled content for all plastic packaging we us for our products

uce food waste across our nufacturing tes by 50% by 2030

t

se s

C 100% MS una t certified 2025 by end

ging All of our packa must be widely recyclable by 2025

We target 100% responsibly sourced soy by end 2025

100% of our colleagues in Procurement roles within Princes Group are CIPS Ethics certified

We are mindful of all of the UN Sustainable Development Goals and have identified the 8 specific goals where we believe we can meaningfully contribute VISIT

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UR PRINCE 28

OUR PRINCES OUR PEOPLE P ‘Having a comprehensive strategy that enables Princes to attract, retain, engage and develop colleagues in the pursuit of high performance will be the differentiating factor in achieving our business goals.

Two years on from the launch of our employer brand, Our Princes – Our People, we can see (and feel) the progress we have made on our journey to drive meaningful cultural change. And we’ll continue to push on, not despite the current challenging trading conditions but because of them – now more than ever it is right that we assert our commitment to cultural change and People Excellence'.

Joe Dent CHIEF PEOPLE OFFICER

PHILOSOPHY We take seriously our ambition to become an Employer of Choice; we want our colleagues to find satisfaction and fulfilment in their careers. To do that it is important that colleagues share our values, challenge us and approach work with energy, focus and an open mind. In return, we are supportive and increasingly forward-thinking.

Our People Excellence Strategy builds upon the ‘Our Princes – Our People’ philosophy and the 6 core pillars it contains:

OUR VALUES - We believe that inspiring and empowering our colleagues to become a values-led organisation will unlock our collective potential and enable us to become an employer of choice.

OUR PERFORMANCE - The performance of our business, and the contribution colleagues make to creating a high-performance environment, are critical to attaining sustained commercial success.

OUR HEALTH AND WELLBEING The priority given to our colleagues Health & Wellbeing is reflected in a programme that has a whole-person focus, namely Emotional Wellbeing, Physical Wellbeing and Financial Wellbeing and the revised policies it is driving.

OUR REWARDS - We expect a lot of our colleagues, and we recognise their excellence by providing a suite of rewards and benefits that is continuously reviewed and improved.

OUR COMMUNITY - We owe huge thanks to all our colleagues who have volunteered their time and are helping to drive some excellent progress in the vitally important area of Inclusion & Diversity –proving that indeed #TogetherWeAchieveMore.

OUR JOURNEY - Of critical importance in fostering a high-performance environment is the need for a well-rounded development offering which supports colleagues at all stages of their career at Princes – and our approach has been transformational.

CAREERS WITH PRINCES

WE ARE MAKING REAL AND SIGNIFICANT PROGRESS TOWARDS MAKING DEEP AND LASTING CULTURAL CHANGE AT PRINCES 29

WE WERE DELIGHTED TO LAUNCH OUR NEW HEALTH & WELLBEING PROGRAMME IN JANUARY 2022 It forms a key part of our People Excellence strategy and helps to demonstrate the importance we place on colleague wellbeing

HEALTH & WELLBEING PROGRAMME 30

THE PROGRAMME ENCOMPASSES THREE CORE ELEMENTS; EMOTIONAL, PHYSICAL AND FINANCIAL WELLBEING Emotional Wellbeing: listening to and supporting our colleagues to help them meet the emotional demands of everyday life.

Physical Wellbeing:

Mental Health First Aiders: Keen always to provide practical support where possible, we marked the UK’s National Mental Health Awareness Week in May 2022 by launching our own Mental Health First Aider initiative. After a successful trial across our two Canning sites, we extended the

Menopause, Fertility & Pregnancy Loss:

Financial Wellbeing:

As we work hard to create an environment where people can open up and trust at some of the most difficult and private times of their personal lives, it is important that we challenge ourselves to ensure our benefits provision is fit for purpose. And although previously addressed by our absence

working with our partners to provide our colleagues with support and information on a range of personal financial matters.

Family Friendly Policies:

providing our colleagues with practical information and opportunities to support an active and healthy lifestyle in and outside work.

The health and wellbeing of our colleague has never been so relevant and important as it is now. We recognise that we are at different starting points across the Group but we are working to ensure we have consistency no matter where in the business a colleague is based.

The initial launch of the Programme focused on mental health and in an interview our Chief People Officer, Joe Dent talked openly about his own personal mental health challenges. You can watch that interview here:

In an effort to meet the needs of a diverse and high-performing workforce we reviewed our family friendly policies – and found them wanting in the UK in comparison to the approach we take across the Group.

Consequently, we have enhanced our maternity, paternity, adoption and shared parental leave benefits offer in recent months.

Universally, our family friendly policies are designed to give our colleagues choice and support – they are aligned with our new SMART working options which include hybrid working, core hours, flexible

programme and invited colleagues from across the UK to volunteer to become Mental Health First Aiders (MHFA) – and thanks to an amazing response and the support of Mental Health England we now have 70+ accredited MHFAs ready, willing and able to lend colleagues a listening ear and help them access the professional support available through our EAP.

policies it is right that we now have stand-alone policies for menopause, fertility and pregnancy loss – the recent introduction of these policies helps to start what can be difficult conversations and ensures that colleagues can easily access the support (emotional and financial) that is readily available to them. To find out more: VISIT

working, shift patterns and part-time working.

These offers are all designed to help colleagues to better balance their work and personal lives.

To find out more: VISIT

Testimonial: From Pat Hickey, MHFA at Long Sutton: VISIT

VISIT

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With now more than 100 colleagues volunteering to get actively involved across our 6 pillars of Inclusion & Diversity we are starting to make real progress against our I&D strategy – there really have been some outstanding moments SOCIAL

LGBT+ ACCESSIBILITY MOBILITY in the way Princes approaches Inclusion & Diversity that represent a genuine step-change

LOREM IPSUM

LOREM IPSUM

GENDER DIVERSITY

MULTICULTURAL

AGE DIVERSITY

ACCESSIBILITY

SOCIAL MOBILITY

LGBT+

INCLUSION & DIVERSITY LOREM IPSUM

From the outset, we were open about the fact that for the strategy to succeed, it had to be colleague led. Indeed we made no secret of the fact that we weren’t the experts and would need to take our time listening, talking and learning – and that is just what we have done.

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GENDER DIVERSITY With key partnerships now in place we are in the best position ever to continue the conversation and help to drive change. Increasingly we have seen (and colleagues tell us) that Inclusion and Diversity lives outside of the confines of the People Excellence framework and that is exactly right! Highlights from the 2022 I&D calendar include our third annual Princes Group Inclusion Week

LOREM IPSUM

AGE MULTICULTURAL DIVERSITY and the opportunity for colleagues to join live Q&As with journalist and broadcaster Louise Minchin on the subject of dealing with menopause in work and Sonia Basey MBE along with Ben Osu, Senior Lead on Equity, Diversity & Inclusion at Everton FC to celebrate Black History Month.

VISIT

ETHNICITY Nationality Mauritian

WE ARE NATURALLY 2,424

British 1,774 Bangladeshi 1,090 Indian 469

A DIVERSE BUSINESS IN TERMS OF ETHNICITY

Italian 383 Polish 159 Lithuanian 108 Malagasy 107 Latvian 65

Gender

Dutch 38 Kenyan 31

Male

Portuguese 30

Female 3,348

3,518

Romanian 29 Irish 13 Slovakian 13 Moroccan 12 Nigerian 11 Pakistani 10 Rest of world 100 TOTAL

6,866

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WE ARE LEADING IN OUR INDUSTRY IN THE FIGHT AGAINST MODERN SLAVERY; SOMETHING WE ARE VERY PROUD OF

SOCIAL SUSTAINABLITY What is modern slavery?

Modern Slavery is a crime and a violation of fundamental human rights. It can take many forms, including servitude, forced and compulsory labour and human trafficking, all of which result in common deprivation of a person’s liberty by another in order to exploit them for personal or commercial gain.

At Princes, we recognise that modern slavery is a global issue and is linked to the rise in global migration. Slavery exists in every region of the world and in most types of economies, whether industrialised, developing or transitional. No industry or sector can be complacent or be considered immune.

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INTERNATIONAL LISTING ON CIPS’ ETHICS REGISTER Since 2019 we have held the Chartered Institute of Procurement and Supply’s (CIPS) Ethics Mark – a certification which requires companies to adopt CIPS’ Code of Ethics, make a public commitment to sourcing ethically and to train and test all staff responsible for sourcing and management of suppliers.

SUPPLY CHAIN TRANSPARENCY As part of championing gender equality and vulnerable workers within our supply chain, we also continue to share disaggregate gender and temporary/agency worker data. This is in addition to visibility of where an active trade union and/or worker committee exists.

To achieve this recognition, procurement colleagues have demonstrated their respect and awareness of international standards against criminal conduct, including bribery, corruption, fraud and human rights abuse, protecting Princes from potential supply chain malpractice.

Certificate of achievement for:

Princes Group In recognition of successfully achieving:

Corporate Ethical Procurement & Supply Malcolm Harrison Group CEO

Achieved: 1 March 2022 Valid for 12 months from achievement date

Chartered Institute of Procurement & Supply Easton House, Easton on the Hill, Stamford, PE9 3NZ, UK

Since 2020, we've published details of all our supply chain showing the site location, with a breakdown of workers, gender split and the presence of an active trade union or worker committee.

VISIT

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COLLABORATIVE ACTION TO ADDRESS ROOT CAUSE ISSUES PRINCES RECOGNISES THE IMPORTANCE OF COLLABORATING WITH NON-GOVERNMENTAL ORGANISATIONS, TRADE UNIONS, CUSTOMERS AND OUR COMPETITORS TO STRIVE TOWARDS MEANINGFUL CHANGE AND ADDRESS SOME OF THE ROOT CAUSE ISSUES OF LARGE AND COMPLEX MODERN SLAVERY RISKS. We are proud to collaborate with the following initiatives: Board member of the Ethical Trading Initiative (ETI), a leading alliance of companies, trade unions and non-Governmental organisations representing the food, farming and fishing sector.

Board member of the Food Network for Ethical Trade (FNET), a collaborative initiative between supermarkets and large food suppliers to improve human rights in global supply chains.

GRASP (GLOBALG.A.P. Risk Assessment on Social Practice) is a 3rd party assessment which defines the minimum requirements for a good social management system in primary production. Since 2018, we require all of our tomato growers in Italy to retain GLOBALG.A.P. GRASP assessments.

Seafood Ethics Action Alliance, established to share best practices and insights on emerging industry challenges.

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PRINCES WAS RECOGNISED BY OXFAM ITALY FOR OUR ONGOING EFFORTS TO TACKLE INEQUALITY AND POVERTY IN THE ITALIAN TOMATO SUPPLY CHAIN, THROUGH A 'FIGHTING INEQUALITY: IT CAN BE DONE' AWARD

CELEBRATING OUR PROGRESS This year Princes won a Co-op 'Treating People Fairly' award, recognising Princes' pioneering aproach to supply chain transparency in tomato and tuna supply chains. The independant panel of judges also commmended us for our focus on responsible procurement and approach in connecting with consumers on sustainability themes.

The award was recieved following the programme we launched in 2018 called 'Lavoro Senza Frontiere' (Work Without Borders' which works in collaboration with on-the-ground charity. Caritas, to train and find roles for survivors of modern slavery in Southern Italy. During the year we also received an award from the United Human Rights Council in recognition of the initiative.

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HELPING SHOPPERS MAKE THE RIGH PURCHASING DECISION We have a long-standing, proactive approach on human rights issues in Italian agriculture, working for many years to tackle illegal labour and working hard to ensure that growers in our supply chain receive a fair and profitable price from us for their tomatoes.

In 2020 we launched a partnership with Provenance, a leading transparency programme, to develop on-pack quick response (QR) codes on our Napolina canned tomatoes products produced at our manufacturing site in Italy, Princes Industrie Alimentari SrL (PIA). Through scanning in a QR Code shoppers are able to review our responsible sourcing credentials as part of a broader blockchain-related transparency drive.

Scan this QR Code to find out more

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HT

AS PART OF OUR ONGOING COMMITMENT TO PROTECT WORKERS’ RIGHTS ACROSS THE TOMATO SUPPLY CHAIN WE HAVE ANNOUNCED A FORMAL PARTNERSHIP WITH OXFAM ITALY Through our collaboration we are rolling out monitoring processes and independent assessment of human rights initiatives aimed at providing enhanced training to workers on labour rights, ethical practices and safety at work.

We are also offering free health insurance to cover medical examinations and certificates and access to a ‘help desk’ service and safe transportation options for those workers employed in the fields, harvesting tomatoes.

These initiatives are designed to tackle exploitation challenges all too common within the Italian produce sector and represent further investment and support from Princes in fighting against exploitation practices, such as the Caporale (gangmaster) system.

Watch our video on human rights risks, and the responsibility all stakeholders play in improving workers’ rights.

WATCH

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CLIMATE CHANGE & THE ENV

OUR GREEN GOALS PROGRAMME WAS LAUNCHED IN 2021 AND SETS OUT OUR RO TO REDUCE OUR MANUFACTURING SITE’S ENVIRONMENTAL IMPACT OVER THE NEXT

OUR ROAD MAP

The food system has a substantial impact on the environment, being responsible for: around 30% of greenhouse gas emissions and 60% of biodiversity loss globally

We’re working hard to measure and reduce emissions in our supply chains, as well as sourcing sustainably to help tackle deforestation.

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VIRONMENT Our story so far...

2010-2020 Reductions achieved : • Water per case -17% • Primary energy per case-16% • Carbon emissions-16% • Waste -11% • Food waste-5% • All UK sites zero to landfill

Launch 2030GreenGoals

OADMAP T DECADE The future...

2021

2030

Review, Reflect and Reset Set milestone targets CapEx planning Sharing best practice Colleague engagement

Our work to reduce the environmental impact of our sites has been ongoing for many years.

Between 2014/15 and 2018/19, we reduced our absolute greenhouse gas emissions by 25%.

We then reset our baseline at 2018/19 in light of the restricting of our estate and Princes exiting bottled water.

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CLIMATE CHANGE & THE ENV CARBON EMISSIONS

OUR CUSTOMER BASE IS NOW SETTING AMBITIOUS TARGETS TO REDUCE ITS OW DIRECT GREENHOUSE EMISSIONS, KNOWN AS ‘SCOPE 1&2’, AND ALSO EXPECTS SEE ACTION TAKEN ACROSS THEIR WIDER SUPPLY CHAINS TO REDUCE WHAT AR KNOWN AS ‘SCOPE 3’ EMISSIONS OUTSIDE OF THEIR DIRECT CONTROL. In response, Princes undertook a project in 2022 to map out and understand the emissions of all key greenhouse gasses across the business as a whole. Our findings show

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that our Scope 3 emissions dwarf our Scope 1 & 2 emissions from our operations covered by our 2030 Green Goals programme.

VIRONMENT

WN S TO RE

SCOPE 1,2,3 Within our Scope 3, we found some key ‘hotspots’ where emissions from certain materials are much greater than others. Rapeseed oil, corned beef, tuna, sunflower oil, tin plate, tomato, steel and orange juice being some of the most significant.

SCOPE 1

Direct GHG emissions occur from sources that are owned or controlled by the company

2% 71K †CO2e

SCOPE 2

Indirect GHG emissions from the generation of purchased electrictity consumed by the company

1.4% 51K †CO2e

Other indirect GHG emissions which are consequences of activities of the company but occur from sources not owned or controlled by the company

96.6% 3.52M †CO2e

DIRECT EMISSIONS

INDIRECT EMISSIONS

SCOPE 3

SUPPLY CHAIN

Going forwards, we intend to establish our own targets to be net zero as a business across all three scopes.

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CLIMATE CHANGE & THE ENV DEFORESTATION

THE FOOD SECTOR REQUIRES A HUGE AMOUNT OF LAND TO GROW CROPS AND COMMODITIES SUCH AS BEEF, PALM OIL, SOY AND PAPER ARE ASSOCIATED WIT OF FOREST AND OTHER VALUABLE HABITATS. In 2022, Princes became a signatory to the UK Soy Manifesto, committing us to set a target for deforestation free soy, to ask our suppliers to adopt and cascade the same commitment, and to publicly disclose progress. Princes has written to all suppliers of these commodity areas to highlight our deforestation free requirements

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and to better understand their plans to e their products is from a deforestation fre customers’ deadlines of 2025. In line with commitments, we will publicly disclose o

VIRONMENT

D REAR LIVESTOCK. TH THE LOSS

ensure that all soy used for ee source in line with our h our UK Soy Manifesto our performance from 2023.

SOY

Soy beans are an excellent source of protein and are used in large volumes in livestock farming, aquaculture and the production of meat free proteins. In 2022, Princes mapped the use of soy within its supply chains. We identified that in 2021/22 just over 12,000t of soy was required ‘upstream’ of Princes in these areas.

CHICKEN

3559

CHEESE

3434

FARMED FISH

2438

BEEF

1367

PORK

1040

LAMB

224

WHEY

44

MILK

31

CREAM

10

BUTTER

3

YOGHURT

3

EGG

1

Figures in tonnes and exclude Edible Oils Limited

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PLASTIC & P

ALL OUR PACKAGING WILL BE WID

THE PRIMARY PURPOSE OF OUR PACKAGING IS TO ENSURE THE SAFETY AND QUALITY OF OUR FOOD AND DRINK, BUT THE SUSTAINABILITY AND CIRCULARITY OF MATERIALS IS AN EQUALLY CRITICAL FACTOR

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Packaging is critical in ensuring the safety and quality of our food and drink and also plays a role in reducing food waste, a major contributor to climate change. However, the environmental impact of our packaging is critical and we continue to operate with the 4 key principles of Reduce, Remove, Recycle and Responsibly Source.

All our product packaging should be widely recyclable, use the minimum materials necessary, be sustainably sourced and include recycled content where possible, whilst maintaining durability for supply chain movements. We understand our circular economy responsibility to ensure that materials are reduced, reused where possible, and work with our customers to establish reusable formats to support any appropriate closed loop initiatives. When we consider new packaging for a product, we will take the overall environmental lifecycle and supply chain impact of materials into account to make the best decision for our customers and consumers.

We currently use 50% recycled content in all our PET drinks and oils bottles and some of our brands – Jucee, Napolina Olive oil – have pushed this on to 100% recycled content.

KEY FACTS

TOTAL PLASTIC USED

19,761 tonnes

19,69

PACKAGING

DELY RECYCLABLE BY END OF 2025

We remain committed to the removal of all non-recyclable plastics and our last area for action plastic pouches for sauces and tuna - is a key focus for us ahead of our 2025 target.

We are committed to using only FSC or PEFC accredited card and paper by 2025 and many of our brands have moved from plastic outer packaging to FSC card.

Light weighting our packaging is an on-going process, and we continually seek to use less material and fewer materials in all our packaging. We have completed projects that will mean 488 fewer tonnes of plastic per annum in several of our 1,2 and 5 litre soft drinks and oils bottles across our branded products and many own label ones we make for our customers.

Plastic reduction is not always as a result of the work of our packaging team, we are also delighted this year with the launch of ‘Quadruple Strength Squash’ which we supply in own label to two of the UKs largest retailers and our technical and Bradford site teams have played a huge role in achieving this.

This reformulation of the squash will mean bottles last longer in the home and families will use several thousand fewer bottles a year.

PACKAGING LEGISLATION There are two key areas of packaging legislation we are preparing for, Deposit Return Schemes (DRS) and Extended Producer Responsibility (EPR).

DRS will be introduced in Scotland in 2023 and while we fully support the principle of a more circular economy, better recycling and litter reduction we remain concerned at the introduction into one country of the UK and the resulting complications of future DRS schemes being introduced into the rest of the UK, and particularly the costs this will mean for consumers.

It is clear that EPR is going to result in significant additional costs for businesses and in the current economic climate this is a significant concern for Princes and the wider industry. While there remains much to be confirmed prior to its introduction it is clear that recyclability and weight will be the critical cost factors, so our approach on packaging as stated above will stand us in good stead to keep our EPR costs as low as practically possible.

TOTAL PLASTIC WIDELY

PLASTIC REDUCTION

AVERAGE RECYCLED CONTENT

RECYCLABLED

PROJECTS 2022

OF PLASTIC IN OUR PRODUCTS

488 tonnes

46.6%

97 tonnes (99.7%)

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SEAFOOD SUSTAINABI With over 90% of the world's fish stocks being either fully fished or overfished, seafood sustainability is a business-critical issue for Princes. We take an active role in calling on regional fishery management bodies to better manage the stocks we source from and have directly supported Fishery Improvement Projects in the Indian and Atlantic Oceans as well as sourcing from others around the world.

OUR APPROACH TO SOURCING Founded in 1880 and initially trading solely in canned fish, few businesses have a heritage as rich in Princes in the sourcing of seafood. Even though we don’t own any boats, our commitment to sourcing seafood responsibly is a key part of our sustainability programme.

Where possible, we aim to source from Marine Stewardship Council (MSC) certified fisheries or those that are actively involved in Fishery Improvement Projects (FIPs) with the aim of achieving MSC certification. Every fish that goes into a Princes can is traceable back to the boat that caught it.

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TUNA In 2021, 100% of Princes’ branded tuna was Responsibly Sourced for the first time. In 2022, we completed the conversion of all Princes brand tuna sold in the Netherlands to be MSC certified. With tuna FIPs maturing and in many cases gaining MSC certification, in the UK, we set out our targets to convert Princes brand tuna to MSC over a three year timescale with the following targets:

25% MSC by the end of 2023 50% MSC by the end of 2024 100% MSC by the end of 2025 In 2022 we also reaffirmed our direct involvement in improving tuna sustainability in the Indian Ocean – our most important tuna sourcing region – through a further year’s extension of the Sustainable Indian Ocean Tuna Initiative (SIOTI) FIP. We also continued to support the Senegal pole & line tuna FIP in the Atlantic Ocean.

ILITY BEST PRACTICE APPROACHES Princes is one of the founding partners of the International Seafood Sustainability Foundation (ISSF), helping to advance global tuna sustainability through science-based practices, collaboration, and advocacy.

SALMON Princes sources MSC certified pink, red and keta salmon from the Alaskan fishery.

MACKEREL Princes sources mackerel from the North East Atlantic fishery.

Princes is also a founder member of the North Atlantic Pelagic Advocacy Group (NAPA) which calls on coastal and fishing nations to improve the management of the fishery and set catch limits in line with the scientific advice.

SARDINES Our sardine supplier is a member of the Moroccan sardine FIP. The Moroccan sardine fishery aims to enter into MSC assessment in 2023.

International partnerships to improve fish sustainability Princes is one of the founding members of the International Seafood Sustainability Foundation (ISSF) and the Global Tuna Alliance (GTA). Through these bodies, we work with other businesses across the industry to advance tuna sustainability through scientific research, collaboration and advocacy.

1 UN Food and Agriculture Organisation (2022), The State of World Fisheries and Aquaculture.

Available at: https://www.fao.org/3/cc0463en/cc0463en.pdf

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IN LINE WITH OUR 2030GREENGOALS INITIATIVE, AND COMMITMENT AS A MEMBER OF THE CHAMPIONS 12.3 COALITION, WE’RE WORKING HARD TO ACCELERATE PROGRESS TOWARDS ACHIEVING

A 50% FOOD WASTE REDUCTION BY 2030 50

As one of the UK’s leading grocery brands and food and drink manufacturers, we have a clear responsibility to address the issue of food waste from farm to fork, which we take very seriously. In the last year we have continued to make good progress, achieving an overall food waste reduction of approximately 0.45% versus 2020/21, with a total reduction from our base-line (2018/19) of 27%, across our global operations.

This work is ongoing, as we continue to explore all opportunities to accelerate further action by investigating, for example, the possibility of turning tomato skins from our Italian operation into biodegradable plastic.

We are partnering with organisations such as Waste and Resources Action Programme (WRAP). We’re proud to have supported them in their second UK Food Waste Action Week earlier this year, highlighting the role that preventing food waste plays in tackling climate change. This is another important element of our 2030GreenGoals sustainability programme, and our vision of ‘Proudly helping families to eat well without costing the earth’

LOVE YOUR LEFTOVERS This year we launched a campaign under our Princes brand banner to help families to waste less and save money, further strengthening our commitment to tackle food waste.

The campaign started with two films showing our Chef Simon (Senior Development Chef), cooking up two delicious recipes using Princes Tuna and leftovers he found in his fridge.

These films were shown on a wide variety of social media platforms and have been well received. We hope to take this innitiative further in 2023.

WATCH

THIS YEAR WE’VE DONATED OVER

475 TONNES OF FOOD AND DRINK, BOTH BRANDED AND CUSTOMER OWN BRAND PRODUCTS. Partnering with FareShare since 2013, all food and drink produced at our UK sites that cannot be sold for whatever reason and is fit for human consumption is donated to them.

The charity based, in the UK, is leading the way in tackling hunger and food waste. In fact, 2021/2022 has been FareShare’s biggest year yet. They helped 10,542 charities and community groups and 1,108,064 people were provided food supplied by FareShare. The food they’ve redistributed contributed towards 131.9 million meals and saved the charity sector £18.5 million.

In addition, we created a campaign via our Princes fish brand in an effort to both raise awareness of Fare Share and to raise much needed funds for their cause.

For every 4-pack of Princes Tuna bought at Tesco and Adsa during October 2022, we donated the equivalent of one meal to Fare Share UK, helping this amazing charity in its mission to fight hunger in the UK.

WE’VE ALSO ESTABLISHED A FOOD BANK PARTNERSHIP IN ITALY FOR EXCESS STOCK AT OUR PIA OPERATION AND DONATED

32 TONNES OVER RECENT MONTHS

*Data from WRAP

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HEALTH 52

We don’t add sugar to any of our branded soft drinks OVER 200 OF OUR BRANDED PRODUCTS OFFER CONSUMERS ONE OF THEIR FIVE A DAY PORTIONS OF FRUIT OR VEGETABLES The vast majority of our range of food and drink can be found on the NHS ‘eatwell plate’ and plays a role in a balanced and healthy diet, with some areas such as oil rich fish and olive oils considered essentials for good health.

We are not complacent however and know there is more we can do in terms of reformulation to further reduce fat, salt and sugar.

This is an area of further development for our foods business while our soft drinks have a more advanced position.

We do not add any sugar to any of our branded drinks, and similar action by the wider soft drinks industry on this issue is demonstrable with a decline of 19.5% in soft drinks contribution of sugar to the national diet in 2022 vs 2018 (source Kantar).

As a supplier of fruit juice we retain concern at the potential change in methodology to the Nutrient Profiling Model used by

the Food Standards Agency which would see pure juice classified as an HFSS (High in Fat Salt or Sugar ) product. The only sugar in our fruit juice is naturally occurring from the fruit and while we fully accept that ‘sugar is sugar’, it is also clear that fruit juice overwhelmingly provides the majority of UK consumers intake of 1 of 5 A Day. Significant legislation on HFSS foods came into force this year relating to placement in stores and further changes to promotions and advertising will follow in 2023. Across hundreds of products, we have only a handful impacted by this legislation and unlike many of our industry peers we are supportive of this legislation and its intent to improve the national diet and the long term burden on the NHS.

RESPONSIBLE MARKETING We take our responsibility very seriously in relation to labelling and advertising of our products to ensure they are not just complaint but totally transparent with consumers. This extends to product labels, websites and outer packaging.

HY FOOD HEALTHY LIFE Our company vision references ‘eat well’ and we are serious about this and our role in providing nutritious affordable food to millions of families across Europe every day 53

HOW ARE WE DOING

2030 GREEN GOALS

TARGET

TARGET DESCRIPTION

Carbon Neutral Manufacturing

100% Carbon Neutral Manufacturing sites *baseline 2018/19

(PRODUCTION SITES)

Reducing General Waste

*baseline 2018/19

Reduce Food Waste

Reduce food waste across our manufacturing sites by 50%. *base line 2018/19

Water Reduction

Reduce water waste and consumption by 25%. *base line 2018/19

Internal Energy Generation

No target - on going

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General waste reduced by 30%.

Up to 50% of our energy needs, to be generated on site

BY

SUMMARY PROGRESS

STATUS

COMMENTS

2030

On track

10.5% reduction

Since 2018/19 we have reduced carbon emissions by 10.5% to 104,000 tonnes across all Group manufacturing sites.

All UK sites moved to 100% renewable electricity in 2022 so we anticipate a further reduction next year.

2030

On track

33.7% reduction

Very strong progress across majority of our operations with the exception of our EOL Erith site which saw increased general waste due to significant project works in 2021.

2030

On track

27% reduction

From our base line of 2018/19 we have a TOTAL food waste reduction of 27%, this includes waste that we are putting to positive use, such as re-distributing for human consumption via FareShare.

Each year, we report our food waste to WRAP using their criteria, and from our base line we are up by 2%, this is against a backdrop of 2 factory shutdowns in Mauritius during COVID. We are back on track this year with a 0.45% reduction from last year 2020/21 to 2021/22.

N.B. Figures shown are Total Food Waste

2030

Behind target

2.4% increase

Our performance in Italy and EOL Erith has affected our overall performance for the following reasons: In Italy we processed a higher than anticipated quantity of tomatoes and exceptional heat in Puglia required significantly more water to cool products after processing.

Our seven UK sites have reduced water by 13% since 18/19 water required higher quantity to reach the same cooling results.

2030

Year 1

Not yet available

We are challenging ourselves to generate as much energy as possible at our own locations. Projects are under review, and we will report on this in more granularity in future.

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HOW ARE WE DOING

SOURCING & PRODUCTS

SOCIAL SUSTAINABILITY

TARGET

TARGET DESCRIPTION

Food Redistribution

Ensure all unsold food and drink is donated to charity

Net Zero Green House Gas emissions (GHG): Scope 3

H Set Science Based Target for Princes Group Net Zero

Marine Stewardship Council (MSC) certified Seafood

100% MSC certified tuna by end 2025

Responsibly Sourced Soy

We are committed to 100% responsibly sourced soy

Responsibly Sourced Palm Oil

100% certified RSPO Palm Oil use

Increasing Recycled Content

Average of 40% recycled content for all plastic packaging we use for our products

Enhancing Product Recyclability

All of our product packaging is classified as widely recyclable

Ethical Procurement

Retention of CIPS Corporate Ethics Mark.

Farm level ethical certification Italian Tomatoes

100% of tomato growers in Southern Italy that supply Princes hold ethical accreditation ( Global G.A.P. GRASP or SA8000)

Global Supply Base Transparency

Publish details of our global supply base

No target - on going

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Base line 2022

BY

SUMMARY PROGRESS

Ongoing

No Target

STATUS

COMMENTS

484 tons donated

Our main partner for donations is FareShare UK but we have arrangements in Italy and Mauritius for donations and have made donations to Ukrainian relief via the Polish red cross

(year ending March '22)

Ongoing

On Track

On Track

Scope 3 footprint measured, and software partner selected to review in 2023. We have contacted the Science Based Target (SBT) Initiative to confirm our intent to establish Net Zero SBTs in 2023

2025

Year 1

Not yet available

All our tuna was confirmed as responsibly sourced in 2021 and the MSC target was set in August 2022 ( 25% end 2023; 50% end 2024;100% end 2025)

2025

Year 1

Not yet available

We have identified our suppliers that require the use of soy ‘upstream’ for animal feeds and started an engagement programme with them in 2022 highlighting our deforestation free soy requirements

Ongoing

On Target

100%

We are reviewing an enhancement to this position of only using Segrated RSPO certified Palm Oil by end 2025

2025

On Target

46.62%

As at June 2022

2025

On Target

99.68%

As at June 2022

Ongoing

On Target

Achieved each year

As at June 2022

Ongoing

On Target

Achieved each year

First achieved 2018

Ongoing

On Target

Achieved each year

Since 2020 we have enabled public visibility of 536 supplier sites, covering 264,000 workers in our supply chain across our suppliers of imported goods, raw materials for manufacturing and packaging

H Scope 1 and 2 emissions cover direct emissions from Princes owned/controlled sources (i.e. our factories), or indirect emissions from energy we purchase.

Scope 3 includes all other indirect emissions that occur in our global value chain

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OUR BRANDS

58

60

62

64

66

68

69

70

INNOVATION AT INNOV8

PRINCES BRAND

NAPOLINA

CROSSE & BLACKWELL

BRANSTON BEANS & PASTA

LOVE CANNED FOOD

BATCH FARRO

HELOR & OW PEAS

72

74

76

78

80

JUCEE

CRISP ‘N’ DRY TREX FLORA MAZOLA U:ME

PRINCES EUROPE

WEILKOPOLSKI

VIER DIAMANTEN

59

Our innov8 strategy is focused on NPD with the support of a dedicated innovation team embedded across the business and a 15,000 strong exclusive research panel of UK consumers.

INNOVATIVE 60

LEADING INNOVATION One of the most strategic transformational changes for Princes Group has been the introduction of a cross-functional Insight & Product Change department, consisting of Innovation, NPD, Insight and Project Management.

This brings all product functions together to collaboratively manage the current and future portfolio for the business. Princes Group first introduced a dedicated Innovation function in 2020, operating from a state-of-the-art innovation centre, covering all areas including culinary, process, packaging and commercial, helping the group stretch into new categories and target new audiences.

Innov8 are responsible for evolving the brands within the existing portfolio and are also the driving force behind new brand creation. This year saw the launch of a new Princes Street Food sub-brand, with a range of Chicken Kebabs inspired by global cuisines, helping to transition the brand into the Frozen category, with extensions of the range due in 2023. Further Innovation included the development a new range of Spice Shots for the U:Me brand, creating a new format of infused oil and spices. Both launches were nominated in The Grocer New Product of the Year Awards.

The team has also worked with Innovation agency, KICR, who provided the business with rapid consumer testing through our bespoke community of 15,000 consumers. This initiative has allowed fluid consumer collaboration on many innovation projects. The unique partnership was nominated by The Grocer for Business Initiative of The Year in 2022 and was a finalist in the Food Manufacturer Excellence Awards as service provider partnership of the year 2022.

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PRINCES

FRUIT

Princes has been caring about taste, quality and families since 1890. The complete Princes range includes a diverse selection of over 200 food and drink products including canned fish, meat, fruit, sandwich fillings and soft drinks. The brand is

FISH

focused on putting the consumer at the heart of our new product development and communication campaigns. By listening to consumer wants and needs,we're becoming more sustainable and expanding our range into growing usage occasions.

Princes is one of the market leading brands in the UK canned fish market, with a clear 5-year mission to become the No.1 Seafood Brand in the UK. Our range now includes tuna, mackerel, salmon and more, continually supported through innovation and NPD. Princes continue to break down purchase barriers, excite shoppers and make naturally nutritious food simple for all by inspiring usage, tempting trial, and reducing barriers. Our plastic free tuna mulit-packs remain a key point of difference, saving 96 tonnes of plastic a year supporting our journey towards a more sustainable future.

THERE FOR YOU, ALL WAYS 62

Princes Fruit range seeks to elevate a previously commoditised market with products that are truly fit for purpose within the three key usage occasions present within the category i.e. Snacking, Breakfast and Baking & Creating. From our market leading fruit fillings, ideal to create sweet treats for friends and family, to our recently launched snack pots, which count as 1 of your 5 a day and many more fruits and formats in between, Prince brand is the perfect partner in ambient Fruit.

PLANT BASED One of our most extensive NPD development and communication campaigns. By listening to consumer wants and needs,we're becoming more sustainable and expanding our range into growing usage occasions to our ready meal range. We’re serving Chunky Vegetable Curry, Lentil & Mushroom Bolognese, Mexican Mixed Bean Chilli and Vegetable Green Thai Curry.

MEAT Princes is clear brand leader in canned meat. Our unrivalled breadth of range is made up of corned beef, ham, canned ready meals and pastes. Our expertise in sourcing and production means customers and consumers alike look to Princes to deliver great quality, tasty products.

JUICE Princes produce a variety of fruit juices in both take home cartons and mini carton formats all with no added sugar or preservatives. This year, we’ve extended our range of Fruit Juices with the introduction of Princes Skinny Mixers, which are low in calorie, great with or without alcohol and have no added sugar, as well as Princes Botanicals which are made with not from concentrate juice, contain botanical extracts and count towards one of your 5 a day. Both new ranges have been expertly crafted and and created to provide complete refreshment and are the perfect thirst quencher.

FROZEN In 2021 Princes made our Frozen debut with the launch of our Street Food Kebabs. The range offers Chicken Kebabs in a variety of world flavours, whilst also delivering on consumers needs for convenience and protein.

FOLLOW

VISIT

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Napolina is the market leader in core Italian areas of tomatoes, pasta, pulses and pizzeria and is used in more Italian meal occasions than any other brand. To grow the brand further we are implementing a new brand proposition which will be supported with a £2m media campaign.

Inspired by the common misconception that staple ingredients such as chopped tomatoes, olive oil and pasta are the support acts in home-cooked Italian meals, the campaign will combine humour and hyperbole to challenge this thinking – championing the ‘not so humble’ quality of Napolina products. The Not So Humble Ingredients campaign is launching with a suite of out-of-home, digital and social assets, inspired by Napolina’s iconic packaging and featuring striking imagery of the brand’s product range.

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NAPOLINA, THE UK’S NO.1 ITALIAN COOKING BRAND, IS VALUED AT £102M WITH A MASSIVE 11.5M BUYERS AND FOUND IN THE

DEEPENING OUR UNDERSTANDING NAPOLINA INVESTING INTO A OF OUR CONSUMERS AND CATEGORIES REVITALISED MARKETING PLAN To drive the brand forward as the leaders of Italian Cooking in the UK, Napolina has recently undertaken a robust study to further understand consumers lifestyles, their attitudes to cooking, and their interaction with Italian ingredients and brands, to ensure we fully understand who our consumers are. The study included a quantitative questionnaire of 3,000 consumers, an online community of 60 members across our 6 newly defined segments, and 6 focus groups which focussed on our 2 key target segments.

CUPBOARDS OF 41% OF UK HOUSEHOLDS

On the back having a deeper understanding of our consumers, Napolina will tailor a new brand strategy to target our consumer segments. The new positioning will be executed across all media touchpoints including instore and online activation. Our biggest campaign ever will launch nationwide later this year.

NEW PRODUCT DEVELOPMENT For the first time ever, Napolina will be launching into Chilled Pasta in early 2023. The range will inspire and excite Chilled shoppers with new authentic Italian flavours and deliver high quality, regionally inspired products. The range consists of Italian Sausage & Sage, Carbonara, Beef Ragu, Aubergine Parmigiana, Pesto Alla Genovese and Mushroom & Mascarpone.

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CROSSE & BLACKWELL IS ABOUT THE PERFECT PARTNERSHIP BETWEEN A FARMER AND A CHEF. NOT COMPROMISING ON TASTE OR QUALITY, WE ARE COMMITTED TO USING BRITISH INGREDIENTS IN OUR PRODUCTS AND SUPPORTING BRITISH FARMERS. From sourcing Wilshire Cured Ham to Stilton from Long Clawson Dairy, we travel all over Britain to find the best quality ingredients to use in our soups. We are continuing to support the brand with ‘In Store’ activity and in May 2022 we launched our new Instagram page: @crosseandblackwell_uk Our focus is about making sure shoppers know about our heritage, the taste & quality of our products and our use of British ingredients.

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WATCH

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BRANSTON, THE ICONIC FOOD BRAND, CELEBRATED ITS 100TH ANNIVERSARY IN 2022 File Name Branston_master_logo_CMYK.ai Job No. XXXX Version 01 Date 08.12.21 D PD A GH AM PB

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PLEASE NOTE: This colour print is a simulation of the final printed product. It is accurate to within the limitation of the technology utilised to produce it.

Some variation in colour and density can be expected from proof to final printed work due to differences in stocks, ink and printing processes.

2005 SAW BRANSTON BEANS LAUNCH IN A RICH, THICK, TOMATOEY SAUCE. THIS FOCUS ON TASTE CONTINUES AND REMAINS AN INTEGRAL PART OF THE NEW 2022 BRAND PROPOSITION.

74 Gloucester Place, London W1U 6HH United Kingdom t +44 (0)20 7998 6202 e hello@thiswayupdesign.com

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We do not proceed with work unless our clients are completely satisfied, so please check this printout carefully, particularly for the issues listed below. Technical: The client should check for correct dielines and measurements, barcode placement, colours (choice and number), eyemarks, best before/use by panels and print free areas. Legal: The Client should check that the printout and all text complies with applicable laws, including trade marks and food standards. This Way Up has supplied the appropriate fonts for the attached job only as a matter of convenience, and the Client warrants that it already has the proper licences to use the fonts for its printing and reproduction purposes. The Client agrees to indemnify This Way Up against loss arising from its breach of these requirements. This Way Up accepts no responsibility for any loss or damage caused to the Client through use of the above artwork. Printing: This printout is not an accurate representation of final printed colours, so we recommend that you send us the cromalin proof to check for colour accuracy. Once satisfied, please sign. By signing, you confirm that you have checked it thoroughly and accept responsibility for the artwork. This Way Up are responsible for elements supplied on this finished art, as viewable on this proof ONLY.

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The brand continues to deliver a strong market performance.

2022 saw Branston get a brand-new look. The recently launched redesigned packs highlight Branston’s taste credentials more clearly and provides great stand out on shelf. The modernised design looks to extend consumer appeal and deliver emotional engagement with shoppers and consumers.

The redesign will be supported by a National Out of Home, Digital, Social & Shopper Marketing campaign targeting over 20m consumers. The campaign will drive awareness of the makeover, using the strapline ‘New Look, Same Great Taste’. This is to reassure existing consumers that whilst the brand may have a new look the Branston Beans inside haven’t changed and they can be confident its the same delicious recipe they know and love.

*1Source: Kantar WPO 52 w/e 17 Apr 22 vs 52 w/e 19 Apr 20 - Spend Legal: Branston® is a registered trademark of Mizkan Euro Ltd and used under licence

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a C n n e ed v o L Food Who?

What?

Why?

Where?

Love Canned Food is a dedicated category initiative, run by Princes in partnership with our can supplier Eviosys since 2017 We aim to remove any ‘miscanceptions’ shoppers may have, educating them about the great benef its of quality, convenience, cost and recyclability that canned food holds!

Our campaign strives to inspire consumers, showcasing how affordable, tasty meals can be whipped up in no time with canned products Give us a follow on Instagram (@LoveCannedFood) to be one of our growing 14,000 strong community, where we post regular, delicious recipe ideas for all occasions, and fun content around hot topics like Great British Bake Off

Our social media content will continue to help consumers create healthy, budgetf riendly dishes for the whole family VISIT

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where you can f ind a whole host of delectable canned recipes to suit every pocket Let us know which one is your favourite!

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THE UK’S FAVOURITE & MARKET LEADER Batchelors® are the UKs favourite canned peas and is the market leader in Mushy and Marrowfat peas*. All Batchelors peas are grown, processed and packed in the UK. An important aspect of growing the brand is targeting younger consumers. This is being done via Batchelors’ Instagram page through trend led recipe inspiration, tapping into eating occasions and targeting our core audience through our on-going partnership with rugby league.

2022 saw the website relaunched to showcase the versatility of canned peas through new recipes that take peas from the side to the centre of plate. In 2022 Batchelors also continued to deliver high levels of awareness through the partnership with Rugby Super League and England Rugby League. This partnership is now in its 7th consecutive year.

* 1Source: IRI 52 w/e 11 Jun ’22 - Value Sales Legal: Batchelors® is a registered trademark of Premier Foods Group Limited and used under licence.

Farrow’s have been producing Britain’s finest giant marrowfat peas since 1929.

They’re British grown and packed with care to bring consumers the tastiest marrowfats they could put on their plate.

They are a firm store cupboard favourite with consumers due to their delicious taste and versatility. They are fantastic with fish & chips but are also a great accompaniment to many other dishes and recipes.

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EDIBLE OILS Through our Edible Oils Limited (EOL) Partnership with Archer Daniels Midland (ADM), we are the UK’s number one total oils supplier of branded and customer own brand seed, olive, speciality oils and white fats.

EOL is brand owner, contract packer and brand distributor to some of the biggest oil brands in the UK market.

It has been a rapidly changing period, with volatility coming from both Covid and the Ukraine crisis. EOL has continued to supply quality products whilst navigating challenges in supply chains around the world.

FIND OUT MORE – www.edibleoilsltd.com

N1

No1. Crisp ‘n Dry is the UK’s number one brand of cooking oil.

Backed by a national TV campaign, Crisp ‘n Dry prides itself on being 100% rapeseed oil. It is perfect for high temperature cooking such as roasting, pan frying and sautéing.

Source: IRI UK Cooking Oil Value Sales 52 w/e 11th June 2022.

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U:ME Oils and U:ME Spice Shots.

Both launched to help inspire confidence in the kitchen.

For oils, showing people which oil to use for which dish is a true opportunity to link oils with specific meals. Using Spice Shots, with simply two teaspoons, add oomph to a dish without the need to measure various spices and oils.

U:ME Spice Shots Japanese Style was short-listed for The Grocer Product of the Year Award, and has since continued to appeal to new younger shoppers.

This year, U:ME has partnered with Wanderlust Travel Magazine to bring global adventure to the kitchen, as our target audience see food and travelling go hand in hand. The brand will double reach to hit 200 million consumers and continue to inspire confidence in the kitchen.

The most awarded extra virgin olive oil, Iliada is a premium oil.

Grown and produced at source in Crete, Greece.

Iliada is a registered trademark of Agrovim, and is distributed via EOL.

Our White Fats portfolio covers a broad range of consumer needs, including baking, roasting, and frying.

Flora sunflower oil is an extension of the range of spreads found in the chillers.

Combined Britannia, Trex and Crisp ‘N Dry appeal to over 1.7m shoppers, with shoppers coming back to our range more often as in home usage occasions rise, and our brands offer great quality and value.

As 100% sunflower oil, it is the only sunflower brand that drives value into the oil category.

After a period off shelf due to sunflower supply issues as result of the Ukraine crisis, the brand is back and regaining distribution.

Flora and the sunflower device are registered trademarks of Upfield, and are packed and sold under licence.

FIND OUT MORE: www.ume.cooking

Mazola has a new look and feel for its corn and rapeseed products.

Olivio offers consumers a touch of the Mediterranean.

Sourced from specially selected farms to give a high quality range of pure oils.

Summer 2022 saw the start of a social and digital campaign, inspiring its target audience of confident chefs.

Offering a blend of vegetable oil with 15% pure olive oil, Olivio is perfect for those wanting the flavour hints of an olive oil, paired with the higher temperature benefits of a seed oil.

Olivio is a registered trademark of Upfield, and is packed under licence.

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PRINCES EUROPEAN BRAND

SUSTAINABLE PARTN

Last year, Princes Netherl partnership with Plastic Ba mission to remove plastic and prevent ocean pollutio partnership is that 170.000 offset through a contribut Ecosystem, fighting ocean equivalent of 8.500.000 5

PRINCES IS THE LEADING AMBIENT FISH CAMPAIGN 2022 the most delicious canned fish, BRANDS IN THE NETHERLANDS. PEOPLE ‘For reach for Princes-blue.’

We’re also proud to partne OF ALL AGES & DIFFERENING TASTES The phrase ‘Goed Gevist’ meaning ‘well Beach Cup (ECBC). Every y caught’ refers to the way Princes catch massive beach clean-up alo ENJOY HEALTHY AND DELICIOUS FISH fish in a sustainable and responsible way. coasts. It’s a free event wit joining in and taking a mom Using these words, by inference, are AS THE BRAND NOT ONLY STANDS plastic problem in the ocea saying why pay more for lesser quality, Last March, Princes partici SHOPPER MARKETING non-sustainable fish products when FOR QUALITY, CONVENIENCE, AND partner in the Eneco Clean As well as digital channels, we’re marketing our Princes fish products represent quality initiative resulting in clean products in store through POS materials including awareness of the responsib VALUE FOR MONEY BUT ALSO FOR ITS and value for money. In the current banners, wobblers, floor stickers and displays, to preserving our environmen economic climate this is a welcome reach shoppers direct. Our message focus is based SUSTAINABILITY CREDENTIALS. message for families in the Netherlands. on new products, our partnerships with organisations VISIT

This year’s campaign focused primarily on creating brand awareness and was built around a strong and simple message to drive brand recognition. The campaign rolled out via TV, online video, and social media

such as Plastic Bank and events like Bewuste Visweek (‘sustainably caught seafood week’), organized

by MSC.

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100% MSC CERTIFIED TUNA

ON TREND; VALUE PACKS (3-PACKS)

lands instigated a ank® in support of their from coastal areas on. The impact of this 0 kg of plastic has been tion to the Social Plastic n plastic and poverty – the 500ml plastic bottles.

In last year’s business report, we announced our goal for our tuna products to be 100% sustainably caught and MSC certified in the Netherlands by the end of 2022, which we’re proud to say has been achieved.

Now all Princes Tuna in supermarkets throughout the

uring the recent pandemic, consumers bought multipacks and market data has shown this tend to be continuing. In order to give consumers what they want, we’ve added to our multi-pack range with the addition of our popular tuna in olive oil.

er with the Eneco Clean year, ECBC organises a ong the Belgian and Dutch th people of all ages ment to think about the ans and on the beaches. ipated for the first time as n Beach Cup. An amazing ner beaches and a greater bility we all have in nt.

Netherlands is labelled 100% MSC certified.

TRACEABILITY AND TRANSPARENCY It’s been two years since Princes introduced the ‘Check Je Vis’ platform (‘check your fish’). Thanks to this blockchain technology, consumers can see the journey from sea to can. Consumers scan the QR code on pack, which shows the story behind each product. It’s just one example of transparency showing both how the fish is caught and sourced.

PLANT-BASED VARIETY As sustainability is part of our DNA and in line with the rising popularity of vegan products, we’ve launched sustainable vegan alternatives. After all, everyone should be able to enjoy their favourite fish dishes so, Princes is offering a plant-based alternative for those who have a strict vegan diet. The range, consisting of plant-based tuna naturel (single and duo pack), in sunflower oil, in olive oil and in dressing, was listed in all Albert Heijn stores during 2022.

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Record oil sales

In 2022 the Wielkopolski brand achieved a record market share: close to 12% volume share across Poland in April 2022(AC Nielsen MAT APR 22). These increases were made possible by steadily building distribution among the most important channels in the market.In Q3’21 we signed a contract with Lidl Poland for the exclusive sale of dedicated Wielkopolski 2L rapeseed oil in a 100% r-pet bottle. This is the first oil on the Polish market in a bottle made of wholly recycled materials. As a result of a very successful in-out in Q1’22 on Wielkopolski 1L rapeseed oil at JMP Biedronka, we started permanent cooperation in Q2’22 with the discounter for the sale of Wielkopolski 1L rapeseed oil in full distribution of all 3,200 stores, which allowed us to achieve exceptional growth in the discounter channel: 10.6% market share.

Communication

The Wielkopolski brand is constantly supported via communication during the highest sales peaks, i.e. around the most important holidays in Poland - namely Easter and Christmas. The brand also reaches out to consumers via social media profiles on Facebook and Instagram. Competitions are regularly organised on these portals to activate our consumers. The brand is also working with influencers as well as ambassador Damian Kordas.Together the brand aims at creating interesting, engaging content that actively reaches a younger target group.

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IG

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Number of followers

+ 67,1 %

+ 6,6 %

Number of posts

+ 23,1 %

+ 13,7 %

Engagement in the comments

+ 16,4 %

+ 40,3 %

Brand update – a new innovative product!

Working towards the continuous development of the Wielkopolski brand portfolio, as the first on the Polish market, we are introducing an innovative product in the oil category: Wielkopolski rapeseed oil with vitamin D3 2L in a 100% r-pet bottle!

This is the brand’s response to the needs of Poles who, in surveys conducted, indicate vitamin D as the most frequently supplemented, as well as the most frequently sought vitamin in food products purchased. In addition, recent years have seen an increase in the popularity of functional/health-promoting foods: already 50% of Poles choose products that have an additional positive impact on their health.

New product in the portfolio - Wielkopolski 5 litres!

In September 2022 we plan to expand the Wielkopolski brand portfolio with another product. The new production capacity at EOL will allow us to sell Wielkopolski rapeseed oil with a 5Lbottle.

This will enable us to extend our reach into the HoReCa channel (Hotels, Restaurants, Catering) enabling us to reach a new group of professional oil consumers.

Shopper Marketing In-store resale is supported by trade campaigns in the form of, for example, stands, shelf stoppers or more spectacular gates directing to the aisle with Wielkopolski products. Such shopper marketing strategies support the in-store rotation of Wielkopolski products and increase brand visibility and awareness.

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AUSTRIA’S MOST POPULAR CANNED FISH BRAND FOR ALMOST 60 YEARS

Generations have grown up with the brand. Vier Diamanten is known for its high-quality tuna and range of tasting variations. The Dressing Pikant (Spicy dressing) is the bestselling SKU in canned tuna in Austria. And the brand is offering well-known high quality pure tuna steak items in brine, oil, olive oil and rapeseed oil. The overall portfolio consists of a range of canned tuna, mackerel, salads, and newly introduced frozen products.

The brand maintains its strong market leadership in Austria (Food Open Market, FOM). More than 1 out of 4 households in Austria are buying the brand (GfK). A great achievement that we are very proud of!

“For the love of tuna” is at the essence of all the brand is doing: in communication, with new introductions and for sustainability.

MEDIA SUPPORT Mid 2022 a strong media campaign has been aired including TV and online advertising. Online advertising is essential in order to remain relevant amongst the younger target audience. The campaign is aimed at emphasizing the quality of the product and the sustainable way of fishing.

Social media is used to further engage consumers with the brand. The social media posts are regularly posted to inform consumers about the brand and generate a general interest in Vier Diamanten.

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SUSTAINABILITY AND TRANSPARENCY Vier Diamanten is committed to minimize its impact on the environment. It has engaged in a program to minimize the use of plastics in its supply chain.

Furthermore, the brand has signed up (per 2022) with Plastic Bank. With this initiative the brand will help preventing the equivalent of 2.500.000 500ml PET bottles to end up in the ocean.

NEW PRODUCT INTRODUCTIONS FROZEN In spring 2022 Vier Diamanten introduced a new Frozen range.

The brand launched 4 SKU’s: Thunfisch Würfel Naturell (Tuna cubes naturel), Thunfisch Würfel Mediterran (Tuna cubes Mediterranean), Thunfisch Burger Klassik (Tuna Burger Classic) and Thunfisch Gourmet (Tuna Gourmet). A large communication program has been set up to support the introduction of the new Vier Diamanten Frozen range: W 5” tag-on was developed to be aired right after the regular 15” Vier Diamanten TV copy. Resulting in a 20” TVC copy that was (and is) aired on national television and largest online platforms. (TVC copy included in the documents).

W New recipes with the frozen range were developed and promoted through our social media (Instagram and Facebook) and posted on our website (www.vierdiamanten.com) (examples available on the Vier Diamanten Facebook/Instagram page and on the website).

W Shopper marketing activities were developed. For a promotional display, a promotional sticker was put on the regular cans informing consumers of the new introductions (example of sticker and display included in the documents). In addition, the brand used electronic instore couponing to increase trial.

The brand is aiming to have its product portfolio to consist of MSC certified fish by the end of 2023. MSC certified tuna is used in the full Frozen range and on its ‘MSC’ cans range. Tuna used in the remaining portfolio is caught by pole and line or fad free. All catching methods are aimed at minimizing the bycatch.

Transparency is important to the brand. The provenance of the tuna in all Vier Diamanten brands can be traced by scanning the QR code on the product.

W New innovations will follow to strengthen our position within the frozen category.

NEW PRODUCT INTRODUCTION - RELAUNCH SALADS Vier Diamanten has reviewed and renovated its salad range. The current range consists of Thunfischsalat Mexikanisch (Tuna salad Mexican) and Thunfischsalat Couscous (Tuna salad Couscous). Both recipes were improved. In addition, for both variants a 2-pack was introduced (new format).

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GROUP HEAD OFFICE (UK)

CONTINENTAL EUROPE HEAD OFFICE

ITALY OFFICE

POLAND OFFICE

MAURITIUS OFFICE

Princes Ltd Royal Liver Building Pier Head Liverpool L3 1NX UK

Princes Foods BV Boompjes 40 PO Box 19157 3001 BD Rotterdam Netherlands

Princes Industrie Alimentari S.r.L (PIA) Zona Industriale Localita Incoronata 71121 Foggia (FG) Italy

Princes Polska Warsaw Metropolitan Pl. Piłsudskiego 3 00-078 Warszawa Polska

Princes Tuna (Mauritius) Limited PO Box 131 New Trunk Road, Riche Terre Port Louis Republic of Mauritius

www.princesgroup.com