Princes Annual Business Report 23

BUSINESS REPORT Proudly offering great tasting choices for everyone without costing the earth

2023/24

CONTENTS WELCOME

DOING THE RIGHT THINGS

CUSTOMER & CONSUMER EXCELLENCE

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62 64 66 68 70 72 74 76 78 80

WELCOME - A MESSAGE FROM OUR MD

MITSUBISHI 6 ABOUT THE MITSUBISHI CORPORATION

PRINCES 10 12 14 15

ABOUT PRINCES OFFICE AND OPERATIONS OUR VISION - HOW WE’RE ACHIEVING IT OUR BUSINESS STRATEGY

PEOPLE EXCELLENCE 18 20 22 24

OUR PEOPLE EXCELLENCE OUR PRINCES OUR PEOPLE PHILOSOPHY OUR VALUES INCLUSION & DIVERSITY 2.0

OPERATIONAL EXCELLENCE 28 30 32 33

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OPERATIONAL EXCELLENCE FOOD SITES DRINK SITES OIL SITES

ENVIRONMENTAL & SOCIAL GOVERNANCE FRAMEWORK

PEOPLE 38 40 42

SOCIAL SUSTAINABILITY PRINCES’ PIONEERING HUMAN RIGHTS IMPACT ASSESSMENT SUSTAINABLE SUPPLY CHAIN

PLANET 44 46 47 48 49 50

SCOPES 1 & 2 EMISSIONS SCOPE 3 EMISSIONS DEFORESTATION SEAFOOD SUSTAINABILITY TUNA FISHERIES FOOD WASTE

PRODUCTS 52 54

CIRCULAR ECONOMY HEALTHY FOOD, HEALTHY LIFE

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HOW ARE WE DOING?

INNOVATION AT INNOV8 LOVE CANNED FOOD PRINCES BRANDS SHOWCASE PRINCES BRAND NAPOLINA BRANSTON CROSSE & BLACKWELL BATCHELORS SOFT DRINKS EDIBLE OILS

OUR EUROPEAN BRANDS 84 86 88

PRINCES EUROPEAN BRAND WEILKOPOSLSKI BRAND VIER DIAMANTEN BRAND

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WELCOME

A MESSAGE FROM OUR MD 2023 IN REFLECTION As our markets and the wider world continues to face a range of economic, environmental and geopolitical instabilities, 2023 emerged as another challenging and turbulent year for the food and drink industry.

But despite persistent factors such as supply chain disruption and inflationary pressures, Princes Group and the wider sector has remained resilient, continuing to adapt, transform and make important strides towards our targets – while delivering great tasting and nutritious choices to millions of families.

Cameron Mackintosh

FOSTERING A DIVERSE AND INCLUSIVE WORK ENVIRONMENT Investing in our people and making Princes a truly great place to work is a high priority for myself and fellow board members. We are firmly committed to ensuring that we create an inclusive workplace where everyone feels valued and respected so were delighted to appoint our first Inclusion & Diversity (I&D) Manager, who is driving our new I&D Strategy 2.0 forward, with support from our dedicated Inclusion Champions and six Colleague Resource Groups.

We have launched a new set of values across the business (see page 22) which will play a crucial role in attracting new talent to our business, driving our ethical and sustainability framework, influencing how our customers perceive us, helping to define our culture and what it is to be a Princes’ colleague, while all the time fostering a sense of belonging.

MANAGING DIRECTOR

" Princes is constantly evolving to meet the changing needs of our customers and consumers" 4

It is important that colleagues live and breathe our values to make Princes a great business and a place where we all feel connected and proud to be.

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INVESTMENT IN OUR BRANDS

CONTINUED ESG PROGRESS

2023 marked continued investment to support ambitious growth plans across iconic Group brands, including Napolina and Princes Fish. In 2022, Napolina – the UK’s number one Italian cooking brand – launched a new ‘Not So Humble’ platform to challenge the common misconception that staple ingredients such as chopped tomatoes, olive oil and pasta are the support acts in home-cooked Italian meals.

We also took key steps forward in our approach to ethical sourcing. This includes completing an industry-first Human Rights Impact Assessment (HRIA) into pulses from Argentina – supporting ongoing efforts to future-proof the Group’s priority supply chains, by taking our approach to mitigating human rights risks and enhancing transparency further than ever before.

In the next phase of this £3m campaign to champion quality staple ingredients as the heroes of Italian cooking, Napolina tomatoes were literally placed on a pedestal as part of the brand’s first special-build advertisement – featuring a 3.8m pillar, topped with a 1.3 metre can, resembling an ancient Neapolitan sculpture.

This was the first of further HRIAs to come, with plans to assess a new supply chain annually moving forward, with the full reports and insights shared across the wider food and drink industry.

‘Not So Humble’ was followed by the launch of a new £2m ‘Fish for Greatness’ campaign, highlighting the taste, nutritional benefits and responsible sourcing credentials of Princes tuna products – through connecting our oceans to great everyday meal occasions such as a lunchtime tuna mayo sandwich.

This is a very exciting time as we continue to build on these new marketing directions, driving cut-through and penetration by bringing a contemporary and humorous tone of voice to two much-loved UK brands.

In Italy, where migrant workers are often exposed to exploitation practices driven by illegal gangmasters, we continued to build on 10 years of work to protect workers and foster financial stability among tomato growers. We remain the only processor in Southern Italy to offer truly fair and sustainable prices to growers, and this year expanded our 2018 migrant worker scheme, Lavoro Senza Frontiere, and were proud to be recognised for the third consecutive year by the UN High Commission for Refugees (UNHCR).

Within our tuna supply chain, progress continued towards our ambition to source and sell all UK Princes branded tuna from Marine Stewardship Council (MSC) certified sustainable fisheries by the end of 2025.

Princes tuna in the Netherlands is already 100% MSC certified and our Austrian Vier Diamanten tuna brand will achieve this imminently. In Poland we were recognised by MSC as being the leading brand promoting MSC certified tuna.

LOOKING TOWARDS THE FUTURE From continued investment in the development of our brands, through to advancing our social sustainability approaches and progressing the Group’s inclusion and diversity strategy, Princes is constantly evolving to meet the changing needs of our customers and consumers.

While the market outlook remains uncertain, we are well-positioned for growth and looking forward to another productive year ahead, as Princes continues to proudly offer great tasting choices for everyone, without costing the Earth.

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ABOUT MITSUBISHI CORPORATION

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.

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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

• Urban Development

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

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

“Shoji Komei”

trading operations to include project development,

Integrity and fairness

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.

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

OUR STRATEGIC IMPERATIVES

CREATING A WINNING CULTURE

DRIVING A CUSTOMER CENTRIC BUSINESS

GROWING OUR

SAVING

and high performing teams

our customers grow

more often

future investment

REVENUE TO INVEST ABOUT OFFICES & Engaging and celebrating Reaching more consumers, Being easy to do Continuously driving the successes of our inclusive for more occasions, OPERATIONS business with to help PRINCES improvements to enable

OPERATING SUSTAINABLY AND ETHICALLY

POWERING

OUR OUR SUCCESS OUR Harnessing our full digital Protecting people, VISION capability to supportBUSINESS business the planet and our resilience, innovation and growth collective future STRATEGY

HARNESSING OUR FULL DIGITAL CAPA BILITY TO POWER SUCCESS

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ABOUT PRINCES We’ve been proudly feeding families for

£1.7 BILLION IN REVENUE | 2,000+ DIRECT SUPPLIES | 11 SITES WORLDWIDE | SOURCE FROM 40 Mitsubishi

1946

Opened first factory for canned foods

1880

1989

Acquired by Mitsubishi Corporation

1999

Princes acquire Mauritian tuna operation

Founded in Liverpool

by William Muirhead Simpson and Frank Roberts

1915

World’s largest exporter of lobsters

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1960

Opened in the Netherlands

1991

Princes enters the soft drinks category through acquisition of Bradford site

2001

Acquire Napolina and Shippam’s

2005

Acquire cooking oil brands, forms Edible Oils Limited (a joint venture with Archer Daniels Midland)

2010

Open Polska offic expand edible oils to Europe

over 140 years...

0+ COUNTRIES | 3,500 DIFFERENT FOOD & DRINK PRODUCTS | OVER 7,000 COLLEAGUES GLOBALLY

ce, s

2011

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

2012

2015

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

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

2017

2018

Major investments at Long Sutton and Cardiff announced

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

2019

2020

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

New Vision: Proudly helping families to eat well, without costing the earth. Major investment in renewal of the Princes brand

2021

2022

Conclusion of 3 year £160m investments in our UK sites.

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

2023

New Vision, Mission and Strategy established

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ABOUT PRINCES

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

FOOD We have two food sites in the UK, a tomato processing site in Italy and two tuna processing sites in Mauritius.

SOFT DRINKS 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.

EDIBLE OILS 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.

LIVERPOOL (UK) GLOBAL HQ 12

Our head quarters are based in Liverpool, in the iconic Royal Liver Building, on the banks of the River Mersey princesgroup.com

PRINCES’ HERITAGE IN PRODUCTION DATES BACK TO 1946...

WE NOW OPERATE SEVEN STATE-OF-THE-ART FOOD, DRINK AND EDIBLE OIL 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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2 11 3

5 7

8

4 6

13

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OFFICES

FOOD SITES

DRINK SITES

OIL SITES

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1. GLASGOW 2. BRADFORD 3. CARDIFF 4. WISBECH 5. LONG SUTTON 6. ERITH 7. BELVEDERE 8. SZAMOTULY, POLAND 9. PRINCES TUNA, MAURITIUS (2 SITES) 10. FOGGIA, ITALY 11. LIVERPOOL, HEAD OFFICE 12. PRINCES FOODS B.V, NETHERLANDS 13. PRINCES POLSKA, WARSAW, POLAND

MAURITIUS

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OUR LEADERSHIP TEAM

OUR STRATEGIC IMPERATIVES

OUR VISION - HOW WE’RE ACHIEVING IT

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CREATING A WINNING CULTURE

DRIVING A CUSTOMER CENTRIC BUSINESS

GROWING OUR REVENUE

SAVING TO INVEST

OPERATING SUSTAINABLY AND ETHICALLY

Engaging and celebrating the successes of our inclusive and high performing teams

Being easy to do business with to help our customers grow

Reaching more consumers, for more occasions, more often

Continuously driving improvements to enable future investment

Protecting people, the planet and our collective future

POWERING OUR SUCCESS

Harnessing our full digital capability to support business resilience, innovation and growth

Leadership Team left to right, Tatsuo Okura, Chief Corporate Officer, Simon Harrison, Deputy Managing Director/Chief Commercial Officer, Joe Dent, Chief People Officer, Cameron Mackintosh, Managing Director, Barry McDonnell, Chief Operations Officer, Stephen Cardall, Chief Finance Officer.

OUR BUSINESS STRATEGY OUR PEOPLE, CUSTOMERS & CONSUMERS ARE AT THE HEART OF OUR BUSINESS

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CUSTOMER AND CONSUMER EXCELLENCE Customers and consumers are firmly at the heart of everything we do.

We offer great tasting choices for everyone. We also focus on environmental and social sustainability throughout our supply chain - “from farm to fork”.

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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 focused and embrace a performance culture.

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PEOPLE EXCELLENCE ACCESSIBILITY

Cultivating a workplace where disabilities and long-term physical and mental health challenges are understood without stigma.

Inclusion & Diversity

GENDER DIVERSITY Enabling an environment where equal opportunities exist, at all levels, regardless of gender.

OUR PEOPLE EXCELLENCE

OUR PRINCES OUR PEOPLE PHILOSOPHY

SOCIAL MOBILITY

Broadening access to Princes for colleagues from less advantaged social-economic backgrounds.

Creatin workpla retaining who can

OUR VALUES

INCLUSION & DIVERSITY 2.0 MULTICULTURAL

Recognising and respecting the valuable contribution colleagues from diverse backgrounds and experiences bring to Princes.

AGE DIVERSITY

Recognising and respecting the valuable contribution colleagues of all ages and experiences bring to Princes.

#TogetherWeAchieveMore

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OUR PEOPLE EXCELLENCE Our People Excellence strategy is a philosophy built on a culture of mutual respect and responsibility and it’s brought to life through ‘Our Princes Our People’.

Our commitment to become an Employer of Choice continues to hold steady; regardless of external market factors, we maintain our pursuit of People Excellence.

What we mean by People Excellence is brought to life through ‘Our Princes – Our People’, a philosophy built on a culture of mutual respect and belonging.

We want to make sure that Princes continues to be a great place to work, a place where our colleagues feel inspired and engaged to achieve great things.

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And to do that it is vital that we continue to challenge ourselves to ensure that our Colleague Value Proposition (CVP) remains strong and meaningful.

We do not shy away from the fact that we champion a high performance culture, but nor do we shirk our responsibility to ensure our colleague experience is positive, inclusive and robust.

As you will read, we have been able to make significant strides during 2023 in our efforts to ensure that all colleagues, no matter where they are in the world, have a voice and feel heard – and that helps to further embed that sense of belonging and purpose.

LINK TO STRATEGY

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OUR PRINCES OUR PEOPLE PHILOSOPHY Continuing to push for positive cultural change is a given – an absolute commitment, regardless of trading conditions. It is our comprehensive People Excellence strategy that enables Princes to attract, retain, engage and develop colleagues and ensure that we can proudly offer great tasting choices for everyone without costing the earth.

EMPLOYER OF CHOICE

" I believe that the true value of our employer brand, Our Princes – Our People, is the fact that it keeps us accountable: as a business, as an employer, as a management team and as a HR team. With a clearly defined north star, we can adapt and evolve in ways that ensure we are continuously changing and improving."

JOE DENT CHIEF PEOPLE OFFICER

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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:

" We are making real and significant progress towards making deep and lasting cultural change at Princes."

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 & 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

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OUR VALUES If proof were needed that Princes is serious about continuous improvement, then the launch in late September 2023 of our new Values is it!

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As a framework, we believe they will help all colleagues, regardless of their location or role, to achieve the best for themselves and for Princes.

These new Values really do challenge the status quo – and we love that!

Recognising the need to move on from our existing and it must be said generic values, we were delighted to unveil five brand new – and most significantly – bespoke to Princes Values.

Driven by clear and hard-hitting colleague feedback, our Values Champions who came from a broad cross-section of our business, created what we hope will become the DNA of the business.

Designed by our colleagues, for our colleagues they are intended to define what good looks like at Princes – or put differently, they define the ‘Princes Way’.

They will help to shape our culture, continuing to foster that shared sense of belonging that is so important to us, and an ambition to strive for excellence.

As action statements, these new values describe how each of us behaves and how we should expect our colleagues to behave towards each other. We want Princes to have a great community feel, and these values will help us to do that.

They will also help drive improved decision-making and actions, reducing ambiguity and promoting consistency.

There is no hierarchy to our new values.

Each one is equally important. There is also an interconnection between each of the values.

Each of us now has a responsibility to bring the five new values to life and, in turn, that will help make Princes an even better place to work.

SET OF VALUES Watch Joe’s short film about the new Values

OUR VALUES 23

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THE FIVE VALUES, WHICH YOU WILL SEE BROUGHT TO LIFE OVER THE FOLLOWING PAGES, ARE:

PROUDLY PRINCES

STRONGER TOGETHER

We want to get up every morning feeling proud to go to work knowing it makes a difference and contributes towards our wider purpose. We are proud of the quality we deliver and we put time into celebrating when we get it right.

TRUSTED & EMPOWERED It all starts with trust. Trusted by our managers and leaders. Trusted by our customers and consumers, and not to forget, by the wider community. We are trusted to always do the right thing and we are empowered to do it.

Winning feels better when we do it together. That means welcoming people from different backgrounds and with different viewpoints, embracing healthy challenge and conflict, staying connected and breaking down silos to support each other to do our best. Not only among ourselves, but with our stakeholders and partners as well.

BRAVELY EXPLORING For over a century we have adapted and evolved as a business. Now more than ever, we are committed to exploring better and innovative ways to meet the needs of those we work with. And we don’t stop there, we prioritise ourselves, seeking ways to grow and develop.

Change is necessary and we embrace it.

CUSTOMER OBSESSED Delighting the customer inspires us; whether its our partners or consumers or our own internal customers and colleagues. We are obsessed with delivering a great service; keeping customers at the heart of every decision and action, building great partnerships based on genuine care, understanding their needs and working tirelessly to deliver the quality they deserve.

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INCLUSION & DIVERSITY 2.0

INCLUSION IS AT THE HEART OF WHO WE ARE AT PRINCES We firmly believe that creating an inclusive workplace is an absolute necessity – we also firmly believe that our diversity is an absolute strength.

It’s for those reasons that we were particularly proud to be able to launch our evolved I&D strategy 2.0 in 2023.

As an evolution from our original I&D Programme first shared in 2020, we now have an increasingly robust approach with a clear vision and, crucially, actionable steps.

That we happily hold ourselves accountable is a theme that runs through our approach to People Excellence.

And when it comes to helping ensure that Princes is an increasingly inclusive workplace that celebrates diversity, this candour is key to building colleague confidence.

Our colleagues are the driving force behind many of our initiatives: they spark debate, help foster awareness and in many cases share very real stories. Our volunteer CRG members exemplify that spirit of inclusivity, demonstrating that it is not just a concept but a lived reality at Princes.

ACCESSIBILITY

SOCIAL MOBILITY

LGBT+

MULTICULTURAL

AGE DIVERSITY

Our I&D Strategy 2.0 is built on four strategic pillars, each designed to take us closer to our vision of inclusivity and diversity. They are:

Organic Inclusion

Balance Representation

We’re introducing an Inclusion Committee, inclusion-focused leadership objectives, and revitalising our Colleague Resource Groups to ensure inclusion remains a natural part of our culture for years to come.

We’re capturing better data, setting representation targets, and enhancing our recruitment strategies to create a more balanced workforce.

Positive Reputation We’re affiliating with recognised organisations, enhancing our external engagement, and striving for industry recognition for our I&D efforts.

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GENDER DIVERSITY

Education and Understanding We’re investing in comprehensive training, including Conscious Inclusion training, enhancing learning experiences, and sharing our knowledge with suppliers and customers alike.

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Our I&D 2.0 Strategy is a compass that will guide us on our journey to a more inclusive and diverse Princes, and we are excited to get started.

ACCESSIBILITY Cultivating a workplace where disabilities and long-term physical and mental health challenges are understood without stigma.

GENDER DIVERSITY Enabling an environment where equal opportunities exist, at all levels, regardless of gender.

Inclusion & Diversity

MULTICULTURAL Recognising and respecting the valuable contribution colleagues from diverse backgrounds and experiences bring to Princes.

#TogetherWeAchieveMore

SOCIAL MOBILITY Broadening access to Princes for colleagues from less advantaged social-economic backgrounds.

LGBT+ Creating a truly inclusive workplace, recruiting and retaining talented colleagues who can work at their best.

AGE DIVERSITY Recognising and respecting the valuable contribution colleagues of all ages and experiences bring to Princes.

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OPERATIONAL EXCELLENCE Operational Excellence

OPERATIONAL EXCELLENCE

FOOD SITES

DRINKS SITES

OIL SITES

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OPERATIONAL EXCELLENCE OPERATIONAL EXCELLENCE DESCRIBES OUR AIM TO ACHIEVE CONTINUOUS IMPROVEMENT IN ALL ASPECTS OF OUR MANUFACTURING OPERATIONS & SUPPLY CHAIN. It is the relentless pursuit of continuous improvement across people, processes, products and performance.

The aim of Operational Excellence is to provide a competitive advantage to enable commercial success, delivering business certainty, and exceeding our customers’ expectations.

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FOOD SITES

WE PRODUCE OVER ONE BILLION CANS OF FOOD A YEAR

WISBECH

LONG SUTTON

Home to our food site in Cambridgeshire, producing canned products including baked beans, pulses, pasta and 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.

ACCREDITATIONS: • ISO 45001 • ISO 40001 • BRC Global Standard for Food Safety AA • Member of SEDEX • Soil Association certified

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• Roundtable on Sustainable Palm Oil Certified

ACCREDITATIONS: • ISO 45001 • ISO 40001 • BRC Global Standard for Food Safety A • Member of SEDEX • Red Tractor certified

• Soil Association certified • Roundtable on Sustainable Palm Oil Certified

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RICHE TERRE

MARINE ROAD

FOGGIA

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 SA 8000 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 160,000sq 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: • MSC Chain of Custody • SA 8000 certified • IFS – Higher Level • LABTRUST Laboratory Accreditation

• BRC Global Standard AA+ • Member of SEDEX

• MSC Chain of Custody • ISO 14001 • SA 8000 certified • IFS – Higher Level

• BRC Global Standard AA+ • Member of SEDEX

ACCREDITATIONS: • ISO 22005 • ISO 14001 • UNI 11233 • BRC Grade AA+ • IFS Higher level

• Sedex member SMETA 2 Organic • ISO 9001 • Kosher/organic

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DRINK SITES

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, where we manufacture products for our Jucee brand, and where we produce a wide range of customer own brand squash.

The Cardiff site is a centre of excellence for chilled and ambient juice manufacturing. Our site produces both Princes and customer own brand products in format sizes ranging from 1 and 2 litre in chilled as well as 1 litre and mini in our ambient range.

ACCREDITATIONS: • ISO 45001 • ISO 14001 • BRC Global Standard for Food Safety A

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• Laboratory Accreditation CLC (Complete Laboratory Compliance) • Member of SEDEX

ACCREDITATIONS: • ISO 45001 • ISO 14001 • BRC Global Standard for Food Safety AA+

• Laboratory Accreditation CLC (Complete Laboratory Compliance) • Member of SEDEX

ACCREDITATIONS: • ISO 45001 • ISO 14001 • BRC Global Standard for Food Safety B+

• Laboratory Approval CLAS • Member of SEDEX • Organic certification

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OIL SITES

ERITH

BELVEDERE

SZAMOTUŁY

Erith is the hub of our seed oil production. Its location adjacent to one of the largest seed oil crushing and refining establishments in Europe, owned by our joint venture partner, ADM strengthens its supply security.

Our brands Crisp ‘n Dry and Flora are packed there alongside our retail and food service customer own brand seed oil sunflower and vegetable oil contracts.

As the UK’s leading olive oil and speciality oil production facility, our Belvedere site packs a variety of oil types from extra virgin olive oil through to solid coconut oil and nut oils like sesame and walnut. With a world class accredited laboratory, the site packs for brands such as Napolina, Mazola, Olivio and U:Me in addition to multiple customer own brand contracts.

Located in the Polish North West region of Wielkopolska, Szamotuly is a fully integrated with an adjacent refinery complex. The site produces branded and customer own brand rapeseed oil for supply into customers across Eastern Europe. The production facilities have recently been expanded with a new bottling line for the Horeca market and a newly launched brand – Jedyny Szefa.

ACCREDITATIONS:

ACCREDITATIONS:

• ISO 45001 • ISO 14001 • BRC Global Standard for Food Safety A+

• Kosher • Member of SEDEX

• ISO 45001 • ISO 14001 • BRC Global Standard for Food Safety AA+ • CLAS

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

ACCREDITATIONS: • IFS – Higher Level • Member of SEDEX

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DOING THE RIGHT THINGS ENVIRONMENTAL & SOCIAL GOVERNANCE FRAMEWORK (ESG)

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PEOPLE SOCIAL SUSTAINABILITY

PRINCES’ PIONEERING HUMAN RIGHTS IMPACT ASSESSMENT

PLAN SUSTAINABLE SUPPLY CHAIN

CLIMATE CHANGES

DEFORESTATION

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£

NET SEAFOOD SUSTAINABILITY

PRODUCT FOOD WASTE

CIRCULAR ECONOMY

HOW ARE WE DOING?

HEALTHY FOOD, HEALTHY LIFE

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ENVIRONMENTAL & SOCIAL GOVERNANCE FRAMEWORK

ESG

This year we have introduced a new approach on environmental and social issues to better embed action and collective responsibility across our business and ensure we are delivering on our vision of ‘proudly offering great tasting choices for everyone without costing the earth’.

1 PEOPLE

2

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PEOPLE EXCELLENCE

HUMAN RIGHTS

Pages 18 to 25

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GOVERNANCE & REPORTING PLANET

PRODUCTS

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5

6

SCOPE 1&2

SUSTAINABLE SUPPLY CHAIN

FOOD WASTE

£ 7

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CIRCULAR ECONOMY

NUTRITION

Under our 3 pillars of People, Planet and Products we have established seven workstreams covering the material issues affecting our operations, our colleagues, supply chains and sourcing of our products, complemented by an eighth workstream of ESG Governance & Reporting Each workstream is staffed with subject experts, key decision makers and passionate individuals and tasked with delivering on existing targets, establishing new ones and ensuring that social and environmental sustainability becomes truly embedded across functionally in our business.

Each workstream is owned by a board level Group Chief Executive to ensure senior level focus and to assist with key issues being factored into long term business strategy.

While many of the issues are not new to us and have long established working groups, the framework is intended to accelerate progress, to better embed it in the business and to incorporate wider compliance and corporate governance issues into our overall ‘ESG’ management.

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SOCIAL SUSTAINABILITY WE TAKE OUR WORK VERY SERIOUSLY IN THE FIGHT AGAINST MODERN SLAVERY – AND IT’S SOMETHING WE’RE VERY PROUD OF.

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3

WHAT IS MODERN SLAVERY?

SUPPLY CHAIN TRANSPARENCY

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.

As part of our commitment to supply chain transparency, since 2020 we have published details of all our finished goods supply chain showing the site location, with a breakdown of workers, gender split and the presence of an active trade union or worker committee.

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.

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.

At a glance, our supply chain map shows:

PEOPLE

PRINCES SUPPLY CHAIN AT A GLANCE PRINCES SUPPLY CHAIN AT A GLANCE

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202,893 workers across the supply chain

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ĐŚŝĞǀĞĚ͗ ϵ DĂƌĐŚ ϮϬϮϯ sĂůŝĚ ĨŽƌ ϭϮ ŵŽŶƚŚƐ ĨƌŽŵ ĂĐŚŝĞǀĞŵĞŶƚ ĚĂƚĞ

542 supplier sites

Suppliers based in 47 countries

INTERNATIONAL LISTING ON CIPS’ ETHICS REGISTER 55% of workers identify as male

45% of workers identify as female

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.

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.

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PRINCES’ PIONEERING HUMAN RIGHTS IMPACT ASSESSMENT At Princes we recognise the importance of taking a beyond audit approach to identifying, assessing and mitigating social sustainability risks within our global supply chains.

A Human Rights Impact Assessment (HRIA) is a specialist study informed by international standards and frameworks, including the United Nations Guiding Principles on Business and Human Rights (UNGPs) to assess all aspects of the value chain to identify and respond to potential impacts to workers.

During the year we successfully completed a first-of-its-kind HIRA into pulses from Argentina as part of our approach to evolving our understanding of risks and opportunities within key value chains.

We currently source around a fifth of our pulses from Argentina, principally chickpeas and cannellini beans which are used within our Napolina brand and for customers’ private label products.

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Within the HRIA an assessment of all aspects of the supply chain were assessed to identify and respond to human rights impacts, informed by international standards and frameworks including the UNGPs. We have used this HRIA to share with customer and supplier contacts in the industry, through both specific workshops within the Ethical Trading Initiative and Food Network for Ethical Trade to encourage others operating in the sector to use our insights to drive required improvements.

A full copy of the HRIA is available at: MORE INFO

3

PEOPLE

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SUSTAINABLE SUPPLY CHAIN

3

PEOPLE

LEADING THE INDUSTRY WITH PRE-HARVEST TOMATO SUPPLY CONTRACTS: OFFERING STABILITY FOR OUR GROWERS 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.

This year Princes has continued to lead the industry by signing pre-harvest tomato supply contracts for 300 growers we work with – guaranteeing a fair price and enhanced financial stability.

By working in collaboration with both the Department of Agricultural Sciences at the University of Foggia and Italy’s leading agricultural union, Coldiretti, Princes is able to commit to paying prices that reflect the current cost of production and deliver a profitable return to our growers ahead of the harvest season.

Seasonal labour is one of the few areas a grower can try to reduce costs during harvest season, making the services of illegal gangmasters an appealing option if there are concerns about the profitability of a crop.

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To minimise the risk of unethical practices, Princes Group’s Italian tomato processing facility, Princes Industrie Alimentari (PIA), conducts early contracting every year – ensuring farmers can invest in resources, while implementing best practices to enhance both social and environmental sustainability during harvest season.

Late contracting is often cited by Non-Governmental Organisations as a key contributing factor to forced labour and human rights abuses, however it’s a practice that continues today and the rest of the industry in the South often concludes negotiations just a few weeks ahead of the harvest.

Committing to pricing that reflects the actual costs of production is the only way to ensure that farmers can remain both profitable and sustainable.

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

princesgroup.com

COLLABORATIVE ACTION TO ADDRESS ROOT CAUSE ISSUES Princes recognises the importance of collaborating with Non-Governmental Organisations, charities, trade union organisations, 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’re a 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.

We remain an active 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.

We’re a member of the Seafood Ethics Action Alliance, established to share best practices and insights on emerging industry challenges.

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SCOPES 1 & 2 EMISSIONS

4

PLANET

FOOD PRODUCTION AND MANUFACTURING IS A CARBON HUNGRY AND ENERGY INTENSIVE PROCESS. Against growing global populations our industry must improve its approach to feeding more people but doing so in ways that minimise environmental impacts.

At our manufacturing sites, we have been actively working to reduce energy for many years; to produce more by using less. Between 2014/15 and 2018/19, we reduced our absolute greenhouse gas emissions by 25% but reset our baseline at that stage following change in our manufacturing estate.

SCOPE 1

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

66.5k tCO2e

SCOPE 2

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

41.7k tCO2e

DIRECT EMISSIONS

INDIRECT EMISSIONS

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1 2

During 2023 we have continued to make good progress on most of our ‘2030 Green Goals’ targets to reduce the emissions, water and waste from our own sites and to be carbon neutral by the end of the decade.

2018/19 baseline Figures exclude Edible Oils Limited

princesgroup.com

PRINCES IS COMMITTED TO OPERATING IN A SUSTAINABLE MANNER GLOBALLY ACROSS ALL OF OUR SITES. WE’RE TAKING STEPS TO REDUCE OUR ENVIRONMENTAL IMPACT ACROSS OUR ENTIRE VALUE CHAIN, FROM SOURCING TO PRODUCTION AND DISTRIBUTION. One of the most significant steps we took during 2022 was to move to 100% renewable energy across our UK sites. This has already had a positive impact on our emissions. We’re starting to see the benefits of our renewable energy investments, and we’re committed to continuing to reduce our environmental impact. In addition to our renewable energy efforts, we’re investing in a number of other energy and carbon projects. These projects, which are currently in early or late-stage planning and which we’ll report on in the future, include on-site solar, carbon capture and green hydrogen supply.

We’re also working to reduce our environmental impact at our production facility at our Princes Tuna site in Mauritius, where a new Biogas plant has been installed near-by. This plant takes effluent from our site and an adjacent fish-meal plant and converts it into energy to power the boilers that cook our tuna.

The Biogas plant is now operational and it’s helping us to reduce our carbon emissions and waste.

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SCOPE 3 EMISSIONS THE CARBON FOOTPRINT OF MOST BUSINESSES IS WITHIN THEIR SUPPLY CHAIN – KNOWN AS SCOPE 3.

4

SCOPE 3

SUPPLY CHAIN

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

2.63m tCO2e

We completed an initial pilot measurement in 2022 and this year conducted a full footprint.

Within our Scope 3, our key ‘hotspots’ are rapeseed oil, corned beef, tuna, sunflower oil, steel (cans) and tomato puree.

We have committed to the Science Based Targets initiative (SBTi) - our intention is to establish Science Based Net Zero carbon targets at a 1.5 degree pathway and we will publish these in 2024 once verified by the SBTi. Our new ESG framework will play a role in achieving these targets. Net Zero for our Group is expected in the long term to have impacts on our sourcing, our approach to sourcing, capital expenditure, our sourcing countries and suppliers, and our work with customers and communication with consumers.

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PLANET

We consider it to be a true ‘game changer’ for Princes and our industry and ensuring that it is embedded from top to bottom of our business will be critical.

Our focus is currently at a Group level but we recognise the growing demand for product level information and footprints. We are supporting any customer requests for product information where we can but are mindful of potential future legislation regarding on label declarations (mandatory and voluntary) and also how meaningful such information is for consumers at the present time.

princesgroup.com

DEFORESTATION THE FOOD SECTOR’S RELIANCE ON LAND FOR AGRICULTURE AND LIVESTOCK PRODUCTION HAS A SIGNIFICANT IMPACT ON THE ENVIRONMENT. The expansion of land for grazing cattle and cultivating crops like soy has contributed to the loss of precious forests and other valuable habitats. These ecosystems play a crucial role in maintaining biodiversity, regulating the climate, and providing essential services for human well-being. Protecting forests is not just critical to halt the loss of global biodiversity but to protect the rights and livelihoods of indigenous communities and forest peoples.

4

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 producing the raw materials we source for our products1.

Princes is committed to sourcing verified deforestation and conversion free (vDCF) soy and ensuring that our supply chain is not contributing to the destruction of natural forests.

In 2022, we became a signatory to the UK Soy Manifesto, which outlines a set of ambitious commitments to eliminate deforestation from the soy supply chain.

PLANET

We are engaging with all our suppliers of raw materials linked to soy to highlight our vDCF requirements and to better understand their plans to ensure that all soy they use is from a source in line with our deadline of 2025. We’re also asking them to set similar policies and to publicly disclose their progress.

In line with our UK Soy Manifesto commitments, we will publicly disclose our performance from 2024. This will include reporting on our progress towards our deforestation-free soy target and the percentage of our soy that is deforestation-free.

PALM OIL

All Palm Oil we use is RSPO certified and we have set a target that, by the end of 2025, we will only use RSPO certified Segregated oil. We have a specific policy for Brazilian Beef which requires commitment from our supplier to zero deforestation (including legally permitted) and other measures intended to improve environmental and social issues.

[1]

Figures exclude Edible Oils Limited

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SEAFOOD SUSTAINABILITY

5

PLANET

SEAFOOD SUSTAINABILITY IS NOT JUST AN ESG ISSUE, FOR PRINCES IT IS A BUSINESS CRITICAL ISSUE, NOW AND IN THE FUTURE. We want to be able to bring this fantastic source of natural low carbon protein to families for generations to come and that means sourcing in the right way and accepting that we have a role in influencing markets, supply chains and also using our voices with the government bodies that manage global fisheries.

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 always traceable back to the boat that caught it.

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INTERNATIONAL PARTNERSHIPS TO IMPROVE FISH SUSTAINABILITY Princes is one of the founding partners of the International Seafood Sustainability Foundation (ISSF) whose science and evidence led mission is to make improvements to global tuna fisheries.

Many ISSF recommendations have successfully been transferred into Regional Fishery Management Organisation action and can also be found within the sourcing policies of global retailers and brands.

We are also members of the Global Tuna Alliance (GTA) and Tuna Protection Alliance (TUPA) where market actors collaborate to use our collective voice to advance tuna sustainability through advocacy.

MACKEREL

SALMON

Princes sources mackerel from the North East Atlantic fishery and is a 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.

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

SARDINES Our sardine supplier is a member of the Moroccan sardine FIP and following improvement works from vessels engaged, the fishery will enter into MSC assessment at the end of 2023.

The NEA stock for mackerel, blue herring and whiting is experiencing overfishing and to date no political agreement has been reached between the key coastal states on Total Allowable Catches (TACs). As a result the fishery lost its MSC certification and this will not improve until political agreement on catches is reached. All NAPA members – brands like Princes, major retailers and processors – are actively using their voice with politicians to urgently reach agreement.

* Responsibly Sourced is defined by the Sustainable Seafood Coalition: MSC certified; Pole and Line; Purse Seine FAD Free; Purse Seine with FAD coming from a publicly reported Fishery Improvement Project with a clear goal of entering MSC assessment.

princesgroup.com

TUNA FISHERIES

FCF

Taiwan

GENTUNA

SALICA

Philippines

Ecuador

EUROFISH Ecuador

Ecuador

Philippines

Maldives

COSMO TECOPESCA

ALLIANCE

MIFCO

PT ANEKA

Ghana

Indonesia

PTM

Mauritius

TUNA In 2021 we reached a milestone of 100% of Princes’ branded tuna across the Group being Responsibly Sourced* for the first time. We have moved this on further and set a target that all tuna will be Marine Stewardship Council certified by the end of 2025. Princes brand sold in the Netherlands has already reached this target and our Vier Diamanten Brand in Austria will be 100% MSC by the end of 2023.

OUR TUNA INTERIM TARGETS FOR OUR UK BUSINESS:

25% 2023

(we will publicly report on our progress early in 2024)

50% 2024 100% 2025

In 2023 we reaffirmed our direct involvement in improving tuna sustainability in the Indian Ocean – through an extension of the Sustainable Indian Ocean Tuna Initiative (SIOTI) FIP which we are engaged in. We also continued to support the Senegal pole and line tuna FIP in the Atlantic Ocean.

MORE INFO

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FOOD WASTE AS A LEADING FOOD AND DRINK MANUFACTURER WE UNDERSTAND OUR RESPONSIBILITY TO ADDRESS THE ISSUE OF FOOD WASTE FROM FARM TO FORK. In addition to the moral imperative of ensuring that no food is wasted, the climate change impacts are equally serious with the carbon inputs into growing, moving and processing raw materials and ingredients and finished products.

As a member of the Champions 12.3 coalition, and in line with our 2030GreenGoals initiative, we’re working hard to accelerate progress towards achieving a 50% food waste reduction by 2030. The results so far look very positive.

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OUR JOURNEY SO FAR

FARM TO FORK INITIATIVES

In 2022/23 we continued to make good progress, achieving a total food waste reduction of 18.4% versus 2021/22, across our global operations.

A Farm to Fork approach includes our supply base. We have and will continue to encourage our suppliers to measure waste, set targets and take action in line with WRAPs ‘Target - Measure Act’ guidance. We have also asked suppliers to challenge us in the raw materials they deliver to us – if our current delivery or specification requirements are causing unintended waste in their business we want to know about it and will work with them to change this.

REDUCTION FROM 2021 TO 2022 REPORTING PERIOD

GROUP OVERALL FOOD WASTE (TONNES)

VARIANCE

2018/19

94,341

N/A

2019/20

79,672

-15.55%

2020/21

69,456

-12.82%

2021/22

69,141

-0.45%

2022/23

58,575

-18.04%

While focus is rightly on the food supply chain to play its part, the fact remains that the majority of food waste occurs in the consumer home. Our brands can therefore play a part helping consumers make little changes at home to reduce waste and save money in the process.

Our cumulative food waste reduction (from our base line of 2018), puts us on track to achieve our target by 2030.

REDUCTION TO DATE (BASE LINE 2018) GROUP

UK

PIA

-37.91%

-13.64%

-21.32%

Our journey is ongoing and this remains a key focus for colleagues at our sites in identifying sources and causes of waste and exploring any and all opportunities to accelerate further toward our goal.

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PLANET

Following on from our initial social media campaign with our Princes fish brand, ‘Love your Leftovers’, our Napolina team has created a new campaign based on not wasting Napolina’s ‘Not so Humble Ingredients’ and in support of WRAP’s - Love Food Hate Waste on-going campaign.

princesgroup.com

FARESHARE

THE CORONATION FOOD PROJECT

Partnering with FareShare since 2013, all food and drink produced at our UK sites that can’t be sold for whatever reason and is fit for human consumption is donated to them.

FareShare leads the way in tackling hunger and food waste; during 2022 alone, they helped 9,500 charities and community groups with 53,180 tonnes of food, the equivalent of 126m meals.*

The Coronation Food Project (CFP) was launched in November 2023 to tackle food insecurity and waste by partnering with charities to redistribute edible food to communities in need.

In addition to our donations, we support FareShare wherever possible on projects where we can help reduce waste through using our sites and colleague expertise or influence with wider industry. In one such project in 2023 a supplier kindly donated 100,000 cans to FareShare to use in canning some UK grown tomatoes enabling them to be eaten for months to come.

Leveraging FareShare’s UK network, the project will direct surplus food to organisations like food banks, after-school clubs, shelters, nursing homes, and domestic violence refuges.

Along with other industry CEOs, our MD Cameron Mackintosh, met with King Charles at the CFP launch and pledged a 500,000-meal donation to our long-term UK charity partner, FareShare.

This will be achieved through a collaborative ‘Alliance Manufacturing’ partnership, which we will encourage key suppliers to join, ensuring an ongoing supply of donations to those who need it most.

ACTION ON FOOD WASTE We’re working with the Waste and Resources Action Programme (WRAP) and we’re proud to support them on an ongoing basis with their UK Food Waste Action Weeks, highlighting the role that preventing food waste plays in tackling climate change.

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CIRCULAR ECONOMY 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.

£ 7

PRODUCTS

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 and ensure the safety and quality of the food isn’t compromised. We understand our responsibility toward a circular economy, ensuring that materials are reduced, reused where possible, and we 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.

Our main packaging type is steel cans that are easily sorted and recycled, with one of the highest recycling rates of packaging in the UK and Europe.

Our steel cans contain a minimum of 75% recycled content, demonstrating the true circularity of this material.

We currently use a minimum of 30% recycled PET content in all our drinks and oils bottles, and our Napolina Olive Oil bottles are at 100% recycled content. During this year we have removed the multipack shrink-wrap around the Branston Beans and replaced this with cardboard. This accounts for an annual plastic reduction of around 80 tonnes.

Where we’ve continued to use shrinkwrap this has been light-weighted to further reduce our packaging.

" All our packaging will be widely recyclable by end of 2025” 52

princesgroup.com

We continue to work on light weighting our packaging where it is safe to do so and have started to move to lift caps on the drinks cartons that will deliver a plastic cap weight reduction annually of around 11 tonnes.

Another initiative we’ve started this year is the implementation of tethered caps, which is intended to ensure that the caps remain with the bottles so that they too can be recycled. If the caps are separated from the bottles before they get to the recyclers, then they drop through the sieves at the sorters and never get to a recycling plant. The initiative was driven by the EU under the single use packaging directive 2019/904 that covers all ready to drink beverage containers up to 3 litres except metal and glass containers.

It doesn’t include the dilute drink containers, however we are looking at options to implement these caps on to these bottles too.

One of our key areas of focus was preparing for the Scottish DRS that was due to be implemented in August 2023. However, in June 2023 it was announced that this would be delayed until October 2025, which would fall in line with the rest of the UK. We continue to follow the updates to ensure we’ll be ready to meet the requirements.

LOOKING FORWARD MAIN TARGETS • 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.

• Focus on moving the few remaining items over to FSC or PEFC accredited board.

• Roll out tethered caps July 2024.

TOTAL PLASTIC USED

17,438 TONNES

TOTAL PLASTIC WIDELY RECYCLABLE

17,379 TONNES (99.7%)

PLASTIC REDUCTION PROJECTS 2023

80 TONNES REDUCED ANNUALLY AVERAGE RECYCLED CONTENT OF PLASTIC IN OUR PRODUCTS

39.94%

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HEALTHY FOOD, HEALTHY LIFE

8

PRODUCTS

WE UNDERSTAND OUR ROLE IN PROVIDING NUTRITIOUS AFFORDABLE FOOD TO MILLIONS OF FAMILIES ACROSS EUROPE EVERY DAY. The cornerstones of our business – fish, pulses vegetables, fruit, edible oils – are all found on the NHS ‘eat well plate’ and play a role in a balanced and healthy diet.

Recent legislative introductions on advertising and promotion of foods High In Fat, Salt or Sugar (HFSS) have had impacts across our industry but our portfolio is unaffected. Our consumer research has shown that health is not a barrier - that is to say a key purchase consideration – for the overwhelming majority of our products but we are not complacent and know there is more we can do to not just improve the nutrition of our products but also promote the health benefits more to consumers.

In our soft drinks business, we do not add any sugar to any of our branded drinks – the only sugar to be found is naturally occurring from the fruit sources.

We retain concern at the potential changes in methodology to the Nutrient Profiling Model used by the Food Standards Agency which would see pure juice classified as an HFSS product. Fruit juice is a source of natural sugar and we recognise there are concerns in relation to overconsumption and dental health but also note that pure fruit juice is by far the biggest source of recommended 1 of 5 A Day portions of fruit and vegetables within the UK for all age groups.

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* Source : Dept of Heath National Diet & Nutrition Survey October 21

In the coming year we plan to review our overall nutrition position at a corporate and brand level including areas for potential reformulation but also key areas of focus where our brands can promote healthy diets more, be that seafood and Omega 3 oils – under consumed by all age groups in the UK* – or pulses as a natural source of protein.

For more information on the NHS Eat Well plate and UK government dietary advice visit: MORE INFO

RESPONSIBLE MARKETING

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

princesgroup.com

FRUITS VEGETABLES GRAINS PROTEIN DAIRY 55

HOW ARE WE DOING? TARGET

2030GREENGOALS (Production Sites)

TARGET DESCRIPTION

BY

PROGR SUMMARY PROGRESS

CARBON NEUTRAL MANUFACTURING

100% Carbon Neutral Manufacturing sites. *baseline 2018/19.

2030

On Track

REDUCING GENERAL WASTE

General waste reduced by 30%.

2030

On Track

REDUCE FOOD WASTE

*baseline 2018/19.

Reduce food waste across our manufacturing sites by 50%.

2030

On Track

2030

Behind Target

2030

Year 1

*base line 2018/19.

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WATER REDUCTION

Reduce water waste by 25%

INTERNAL ENERGY GENERATION

*base line 2018/19.

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

princesgroup.com

Baseline 2022

RESS STATUS

No Target - ongoing

COMMENTS

25.4% Reduction

Since 2018/19 we have reduced carbon emissions by 25.4% to 84,000 tonnes across all Group manufacturing sites. Key UK sites are to have solar PV installed in 2024 and our Mauritian onsite boilers are now supplied by biogas, reducing their carbon emissions by approximately 80%. All UK sites are now supplied by 100% renewable electricity via the National Grid.

34.9% Reduction

Good progress is being maintained across the sites working in partnership with our waste contractors to develop more positive uses of our waste. Our onsite team continue to work on a number of projects to reduce waste at source, through our Lighthouse project.

37.91% Reduction

From our base line of 2018/19 we have a TOTAL food waste reduction of 38.1%. This includes waste that we are putting to positive use, such as redistributing for human and animal consumption, anaerobic digestion and for the production of internal energy (biogas).

Each year we report our food waste externally and have committed to reporting to WRAP since 2018. Food waste on site continues to improve through our Lighthouse activity. Our aim is always to reduce or repurpose all waste wherever possible.

0.9% Increase

% energy generation to be reported in 2024

N.B. Figures shown: TOTAL food waste. Food waste redistributed for human consumption goes to FareShare in the UK and similar organisations in Italy and Mauritius.

Whilst we are behind target, water surveys across our manufacturing sites are planned in 2024 to identify ways we can reduce water wastage.Our Italian site has reduced water consumption by 10% since 18/19 with the introduction of large underground water storage tanks.

We will soon be installing solar PV roof panels on our largest manufacturing sites in the UK and are also working on other potential projects including hydrogen gas to power our boilers and carbon capture.

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HOW ARE WE DOING? Ongoing

PROGR SUMMARY PROGRESS On Track

Ongoing

On Target

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.

100% MSC certified tuna by end 2025.

MSC CERTIFIED SEAFOOD

2025

On Target

2025

On Target

2025

Year 1

RESPONSIBLY SOURCED SOY

2025

Year 1

Ongoing

No Target

TARGET

NET ZERO GHG EMISSIONS: SCOPE 3 RESPONSIBLY SOURCED PALM OIL INCREASING RECYCLED CONTENT

SOURCING PRODUCTION

FOOD REDISTRIBUTION

TARGET

SOCIAL SUSTAINABILITY

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ETHICAL PROCUREMENT FARM LEVEL ETHICAL CERTIFICATION - ITALIAN TOMATOES

TARGET DESCRIPTION Set Science Based Target for Princes Group Net Zero.

100% certified RSPO Palm Oil use.

We are committed to 100% responsibly sourced soy.

Ensure all unsold food and drink is donated to charity.

BY

Retention of CIPS Corporate Ethics Mark.

Ongoing

PROGR SUMMARY PROGRESS On Target

100% of tomato growers in Southern Italy that supply Princes hold ethical accreditation (Global Gap GRASP or SA 8000).

Ongoing

On Target

TARGET DESCRIPTION

BY

princesgroup.com

Baseline 2022

No Target - ongoing

RESS STATUS On Track

COMMENTS

100%

Scope 3 footprint measured and software partner selected, SBTi commitment letter in place and we are in the process of submitting our targets for SBTi approval.

We have set an enhancement to this position of only using Segregated RSPO certified Palm Oil by end 2025.

39.94%

As at March 2023.

99.66%

As at March 2023.

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). We will publicly report our end of 2023 status in early 2024 but we remain on target for all branded tuna to be MSC certified by the end of 2025.

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 fee soy requirements.

192 tonnes donated Our main partner for donations is FareShare UK and has been since 2013. This year we have signed an agreement with the Coronation (year ending March ‘23) Food Project to donate 500,000 meals. We also have arrangements in Italy and Mauritius for donations and have made donations to Ukrainian relief via the Polish Red Cross.

RESS

COMMENTS

STATUS Achieved each year

First achieved in 2020.

Achieved each year

First achieved 2018.

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CUSTOMER & CONSUMER EX INNOVATION AT INNOV8

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LOVE CANNED FOOD

PRINCES BRANDS SHOWCASE

PRINCES BRAND

NAPOLINA

BRANSTON

princesgroup.com

XCELLENCE CROSSE & BLACKWELL

BATCHELORS

SOFT DRINKS

EDIBLE OILS

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" My role at Princes is great because it gives me the freedom to experiment with recipes and to be creative with future food trends."

I enjoy working with big, bold flavours and putting them together to create really tasty food and I take inspiration from lots of places.

I’ve got dozens of recipe books I’ve collected over the years, which are good to browse through because a new idea or a flavour can just jump out at you. I love Instagram for the same reason, and I’ve discovered new ingredients from brilliant cooks across the world who are real trailblazers.

I’m proud of all the research and product development work we do at Princes, and I’m looking forward to 2024 because we’re planning to work closer to our chefs and new product development teams at our manufacturing sites across the UK.”

SIMON STOKES SENIOR DEVELOPMENT CHEF

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INNOVATION CENTRE

Operating from a state-of-the-art Innovation Centre in the Royal Liver Building, the Commercial Innovation function, alongside NPD specialists, have the capability to run hands-on development and showcase their ingredients in application for consumers and customers.

Simon Stokes recipe Coronation Chicken

CORE VS EXTEND

The Commercial Innovation function is now approached in two ways across the business, to ensure we maximise our portfolio through Core Innovation, whilst also looking at opportunities for future business evolution with an ‘Extend the Core’ team.

This allows each team to specialise and adapt the approach to Innovation, whilst keeping close alignment to strategy, ensuring we target both shortand long-term profitable business growth for our brands and customer own brand projects.

TREND TOOLKIT

TREND TOOLKIT

To encourage a culture of Innovators, the team produce an annual Trends Toolkit to monitor and report on the latest themes impacting consumer behaviours. Using the latest Ai technology, the team monitor emerging and growing ingredients, flavours and claims to inform pipeline development and track new product launches. By monitoring the progress of key trends and identifying the optimum point of market entry, the team can focus on Fewer, Bigger, Better product launches.

OUR PLAN ON A PAGE

Why Do We EXIST AS A BUSINESS?

Our Our

PURPOSE DOING THE RIGHT THING TASTES GREAT

The unique partnership was nominated for The Grocer Business Initiative of The Year in 2022 and was a finalist in the Food Manufacturer Excellence Awards as service provider partnership of the year.

MISSION

Our

VISION DELIGHTING MORE WITH MORE SUSTAINA PEOPLE BLE CHOICES

PROUDLY OFFERING GREAT TASTING CHO FOR EVERYONE WITH ICES OUT COSTING THE EART H

What are OUR STRATEGIC IMP ERATIVES?

CONSUMER PANEL

Keeping the consumer at the centre of our decision making, the Innovation Team have evolved their partnership with KICR and Good Sense Research, providing the business with rapid and fluid consumer testing through a research community of now over 16,000 consumers.

What Will WE DO?

CREATING A WINNING CULTURE

DRIVING A CUSTOMER CENTRIC BUSINESS

GROWING OUR REVENUE

SAVING TO INVEST

OPERATING SUSTAINABLY AND ETHICALLY

POWERING OUR SUCCESS

CONSUMER TRENDS TOOLKIT

EDITION TWO

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E N D N F A O C O E D V O L R U L U O N Y C E H! V O L

A dedicated category initiative run by Princes in partnership with Eviosys since 2017.

OUR 2023 CAMPAIGN:

INSTAGRAM

Our campaign will be seen over 100 million times!

Celebrating the taste and value of canned food to drive increased lunchtime usage.

Meatball Sub

Sloppy Joe Slider Bake

Tuna Melt

BRINGING LUNCH TO LIFE...

INFLUENCER PARTNERSHIP

Visit our page to see a breadth of lunchtime recipes using products across Princes’ canned portfolio.

We’ve enjoyed another exciting year of partnership with Dean Edwards.

15.6k followers

With , we’ll continue to grow our audience with the help of our exciting newly developed recipes!

With a passion for creating great tasting, low cost family meals, look out for Dean’s 6 delicious new canned recipes, which he’ll be sharing with his

596k TikTok followers.

“ Adding an extra can of protein such as tuna, canned fruit or vegetables into lunchtime recipes is the easiest way to add extra goodness into children’s meals.”

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Value . Taste . Family . Lunch We’ve already seen some fantastic coverage...

1m followers.

PRESS OFFICE

THE VALUE STORY...

Using our canned taste & value research, we are bringing this story to life through various media activities, sharing our cost-saving hints and tips with millions of shoppers!

BRINGING LUNCH TO LIFE INSTORE...

Our kick-off activity in Tesco caught the attention of who included a glowing review in their Shopper Marketing Highlights report!

HEADLINE-GENERATING RESEARCH STUDY Working with Manchester Metropolitan University, we are conducting some great research to highlight the taste & value benefits of canned food, through like-for-like recipes using canned vs fresh products.

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We are also developing delicious new lunchtime recipes alongside our very own Development Chef, Simon Stokes!

For an even wider range of recipes, head over to our website

Make sure to follow us on Instagram for regular lunchtime inspiration!

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Proudly offering great tasting choices for everyone without costing the earth 66

Branston is a registered trademark of Mizkan Europe Limited and used under license.

Batchelors is a registered trademark of Premier Foods Group Limited and used under license.

Olivio and Flora are a registered trademark of Upfield, and packed and sold under license.

princesgroup.com

TAKE A LOOK AT OUR BRANDS...

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With a proud heritage dating back to 1880, the Princes brand consists of great quality and convenient products which are enjoyed by tens of millions of people across Europe.

Our portfolio includes ambient fish, canned ready meals, fruit fillings, spreads, canned meat, and juice drinks, many of which are category brand leaders. Available from a growing number of retail channels, and trusted by consumers of all ages, Princes products are purchased by c11.5m UK households every year.

Princes is one of the UK’s market leading brands in the canned fish market, and we have a clear mission to become the No.1 Seafood Brand in the UK. Our range includes ambient tuna, mackerel, salmon, sardines and our brand new added value tuna salads.

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princesgroup.com

BRAND VALUES:

INNOVATION:

Our brand values are built on delivering natural, healthy products and straightforward meal solutions to our consumers.

There is a growing need for nutritious, light lunch choices that are tasty, affordable and convenient.

Our new ‘Fish for Greatness’ campaign, which launched in October ‘23, champions our ocean to plate goodness.

The new creative evokes all the goodness of the ocean, the unwavering beauty of nature, the sparkling majesty of the deep blue sea and connects it with Tuna meal occasions consumers enjoy the most.

As part of our innovative value-added meal solutions, in September ‘23 we launched three Tuna Salad Bowls to our new ‘on-the-go’ range. All three variants are MSC certified, use 100% natural ingredients and contain large chunks and flakes of tuna mixed with grains, rice, couscous or vegetables.

We are passionate about feeding the nation healthy and sustainable seafood, which is why we are committed to a sustainability agenda. By 2025, our aim is for all our Tuna products to carry the MSC label on pack, the leading conservation label within the category.

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NOT SO HUMBLE INGREDIENTS 70

Originating in Naples in 1965, Napolina showcases its Neapolitan pride through its bold and confident tone of voice, executed through the Not So Humble Ingredients campaign. The £3m media campaign will reach shoppers at multiple touchpoints across out-of-home, radio, digital, social and in store to inspire consumers to upgrade their cooking using Napolina’s quality ingredients communicated through the brand’s signature humour and not-so-humble brag.

PACKAGING REDESIGN To further communicate Napolina’s Naples pride and heritage, the brand will also be introducing a brand new pack design to shelves in early 2024. The packaging introduces brightly coloured silhouettes of Mount Vesuvius, bold, quality led photography and Italian-style typography to increase stand out on shelf. The confident and humorous tone of voice is weaved throughout the back of pack copy and recipe inspiration.

NAPOLINA IS THE MARKET LEADER IN CORE ITALIAN GROCERY AREAS OF TOMATOES, PASTA AND PULSES AND IS USED IN MORE ITALIAN MEAL OCCASIONS THAN ANY OTHER BRAND.

ETHICS & SUSTAINABILITY Napolina continues to invest in the planet and people in its supply chain. Napolina leads the way within the tomato industry with the brand continuing its partnership with Colderetti, Italy’s largest farming union to ensure fair prices for farmers and workers. The brand has also invested in multiple technologies to reduce the environmental impact on the tomato growing process such as Ecofert to reduce water usage and Trapview to monitor pests and minimise the use of pesticides.

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OUR BRANDMARK

Our brandmark – the Branston badge – has been redesigned & simplified to be proud, iconic yet familiar.

PRIMARY BRANDMARK

Our primary brandmark should be used whenever possible.

Our secondary brandmark has been simplified to a single colour option to be used when the number of colours or print process is limited.

SECONDARY BRANDMARK

RAND GUIDELINES

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3

SPILLING THE ON OUR 5* TASTE. With its affordable price point, 5* taste and engaging tone of voice, Branston is perfectly placed to support families throughout the cost of living crisis. But over 80% of shoppers don’t know how good Branston baked beans are.

Our focus is simple - to disrupt the shopper mission to drive awareness and trial.

This year, our eye-catching 4 pack card wrap and new SRP has landed, we have elevated our in-store activation and secured significant off shelf space.

In addition, in September '23 we launched a brand-new campaign. A high frequency, high impact media plan across digital, print and out of home landed alongside comedy and lifestyle podcast sponsorship and influencer activity.

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Crosse & Blackwell’s wholesome and flavour-packed soups have been enjoyed by generations of families for over 200 years.

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From farm to flavourful bowl

CREATORS OF COMFORT SOUP

Despite challenging market conditions, the brand has outperformed the market year on year in volume, value, penetration and frequency, stealing share from our competitor set*.

We have a brand new range of condensed soup and two EPD lines (Cream of Tomato and Minestrone) and are supporting our range in-store and online this soup season to drive awareness of our great taste credentials.

We offer our customers great tasting soup at an affordable price, which is particularly important with the current cost of living crisis.

* Kantar Worldpanel 52 w/e 16th April 2023

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Batchelors® is the UK’s favourite canned peas*.

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* (IRI Sig Grocery 52 w/e 8th July)

A side of plate classic, all Batchelors peas are grown, processed and packed in the UK. The brand’s contribution to category health is significant and Batchelors’ shoppers buy and spend more per trip than own label shoppers.

As brand leader, the COLC trade-down has impacted our business with more price sensitive core shoppers, but it has also bought with it opportunities for growth with an emerging pre-family audience, driven in part by the desire to recreate “fake-aways” at home.

Research shows Batchelors has superior equity in both our actual product and our brand so we have reason to be optimistic for the year ahead.

Support activity instore and online aligned to the category’s seasonality is planned for this Winter to target both our core and emerging shopper groups.

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After a lot of excellent work with t in January ‘23 we launched a range

SOFT DRINK

Already worth £3.2m*, and showing consistent growth since launch, listings have been achieved across the trade and include multiple retailer, discounter and wholesale customer listings.

A family favourite since 1980, Jucee is bought by nearly 700k* households in the UK, an increase of 100k from two years ago with penetration growing by +3.6% (versus the total market of +0.4%). Jucee is now the fourth biggest brand* in the UK by volume with 8.1m** litres of Jucee sold. Our Mixed Fruit variant launched in 2023.

The brand continues to deliver great value for money whilst still maintaining key product benefits including zero added sugar, made with real fruit and containing vitamins C & D.

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Jucee appeals to younger families, which is an important shopper for retailers. Our stockists include Iceland, discounters, wholesalers and retailers.

the soft drinks NPD team , e of Swizzels inspired squashes .

Launches were supported with shopper activation in store with more to come. Exclusive listings are in place across two of the products and we created a special edition Halloween SKU.

Produced across our two key drinks sites, Bradford and Cardiff, our soft drinks branded portfolio continues to grow.

Our flagship brand Princes encompasses fruit juices in both take home and mini carton formats across 100% pure juices and juice drinks.

Our 100% pure juices are ‘from concentrate’ which dominates the ambient juice market and deliver 1 of your 5-a-day, whilst our Cranberry Juice Drink is low calorie, no added sugar, and still delivers a great taste.

*Kantar 52 w/e 29.10.23 ** Source Annual sales out to 30.06.23

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EDIBLE OILS Through our Edible Oils Limited (EOL) Partnership with Archer Daniels Midland (ADM), we’re proud to be the UK’s number one total oils supplier of branded and customer own-brand seed, olive and speciality oils, as well as white fat products.

NEW 1 CAL OIL SPRAYS In September 2023 we launched our 1 Cal Oil Sprays under Crisp ‘n Dry, Flora and Napolina. Unlike other low-calorie sprays on the market, our sprays are 100% oil and nothing else.

We’re supporting our innovation with new artwork across the range and ATL support in the first quarter of 2024.

CRISP ‘N DRY One of the UK’s most popular brands of cooking oils, Crisp ‘n Dry prides itself on being 100% rapeseed oil. It’s perfect for high temperature cooking including roasting, pan frying and sautéing.

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FLORA

U:ME

Flora Sunflower Oil is an extension of the spreads found in the chillers. As 100% sunflower oil, it’s the only sunflower oil brand driving value in the category.

It can be confusing knowing which oils to use in cooking but U:Me makes it easy for everyone to choose the right oil for most dishes.

Look out for the clear Use Me recommendations on our speciality blends.

OLIVIO Olivio is our rapeseed and olive oil blend offering consumers a taste of the Mediterranean. With olive oil prices rising, Olivio offers an affordable way to get the flavour hints of olive oil.

ILIADA The most awarded extra virgin olive oil, Iliada is a premium oil which is grown and produced at source in sunsoaked Kalamata in Greece.

MAZOLA

BRITANNIA & TREX

Mazola is sourced from specially selected farms to give a high-quality range of pure oils, including our flagship variant, corn oil.

Our white fats portfolio covers a range of consumer needs including baking, roasting and frying.

* Flora and Olivio are registered trademarks of Upfield and are packed under licence. * Iliada is a registered trademark of Agrovim and is distributed via EOL.

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princesgroup.com

OUR EUROPEAN BRANDS VERTRAUEN VERTRAUE A AUE N SIE KEINER KEINE WE WERBUNG WERBUNG. VERTRAUE AUEN SIE IHREM AUE IHR HREM GESC HR CHMAC VERTRAUEN GESCHMACK.

P R E M I U M Q UA L I TÄT S E I T 1963

PRINCES EUROPEAN BRAND

WIELKOPOLSKI

VIER DIAMANTEN V I E R D I A M A N T E N . C O M

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PRINCES EUROPEAN BRAND

VERRuIm JE bLIk

Princes is the number one fish brand in the Netherlands again.

The brand made a strong recovery from the economic recession resulting in the highest market share in volume and a very close runner-up in value sales.*

VOOR DE LEKKERSTE VIS IN BLIK, GRIJP JE NAAR PRINCES BLAUW.

Our leading ambient fish brand inspires people of all ages with different tastes to enjoy healthy and delicious fish from all over the world. By offering high quality convenience products for affordable prices, Princes focuses on value for money while keeping sustainability high on its priority list.

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PBTL_PTB_Tonijnsalade_Allerhande_210x265+3mm.indd 1

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08-05-2023 15:15

BRAND SUPPORT

The ‘Goed Gevist’ campaign, which kicked off last year to position the brand as the best choice on shelf, will continue this year. The brand message is strong and simple: ‘For the most delicious canned fish, reach for Princes blue, that is always Goed Gevist’.

The phrase ‘Goed Gevist’ means ‘well caught’ and we’re all about ensuring our customers enjoy the best choice for the best price. In the current economic climate this is a welcome message for families in the Netherlands.

The introduction of our plant-based tuna range has been well promoted on radio, online video (OLV) and Digital out of Home (DOOH) at retailers. The campaign runs for +/- 5 months.

To boost online sales, we’ve given consumers the chance to add products to their online shopping baskets by scanning a QR code and used retailer search engine advertising to promote individual product listings on retailer websites.

The first campaign ran via Albert Heijn, the biggest retailer in the Netherlands. Both initiatives are connecting well with our media efforts and shopper impact.

LAUNCH PLANT-BASED TUNA

SUSTAINABILITY

For the third year in a row, Princes is a proud partner of Plastic Bank to create environmental and social impact. This past year Princes prevented 50,000 kilograms of plastic from entering the ocean, equivalent to 2.5 million 500ml plastic bottles! Collection members in vulnerable coastal areas exchange their collected plastic for income and life-improving benefits.

Princes was the first leading fish brand to introduce plant-based tuna in October 2022.

After a successful launch, supported by online and offline campaigns, the brand added two more products to the vegan range in 2023: ready-to-eat tuna salads with Couscous and Mexican style flavours. They were supported with two influencer campaigns flights, multiple sampling boxes and couponing.

After last year’s success, the brand joined as partner in the Eneco Clean Beach Cup (ECBC) again. Along with thousands of volunteers, 5,000kg plastic was removed from 26 beaches. These two initiatives show Princes’ commitment to tangibly contribute to its sustainability goals.

In the Netherlands, 54% of the total canned fish business is MSC certified. With 35% share, Princes is the biggest supplier of MSC certified fish. Looking at the Princes’ volume, 92% is currently MSC certified and the tuna range is 100%.** * (Nielsen, YTD P7). ** Total NL markt, MAT + Mat -1, Totaal Visconserven, Sales in volume (kg) and value €.

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“WIELKOPOLSKI WIE” is the new

advertising slogan for Wielkopolski.

Meaning ‘Wielkopolski knows’, it centres around our expertise in selecting the best grains and the importance of pressing them only once for a distinguished oil with a golden hue. Our customers love using our versatile oil to help them bring out the best from their cooking.

OUR 360 “WIELKOPOLSKI WIE” CAMPAIGN featured on TV, radio,

digital, social media and on page media.

We also ran competitions with fabulous prizes on Wielkopolski’s brand channels and social media, including Facebook and Instagram.

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New brand positioning Wielkopolski WIE

olejwielkopolski.pl

SHOPPER MARKETING

Sales support at shelf level is an important part of building the visibility of the Wielkopolski brand. POS materials in the form of giant shelf decorations and shelf stoppers were placed in stores over Easter 2023 and during the launch of our new cold-pressed oil. These included the main retail chains of Auchan, Carrefour and Kaufland.

NEW PRODUCT LAUNCH

This year we introduced a new 500ml cold-pressed rapeseed oil to the Wielkopolski portfolio in response to customers looking to eat healthier and lighter dishes.

SUPPORTING SUSTAINABLE DEVELOPMENT

New for 2023 Jedyny Szefa is our new brand for the professional market.

As part of our eco credentials, and to reduce the amount of plastic used in our packaging, we are reducing the weight of our bottles from 22g to 21g.

This follows on from the rollout in 2018 of a 51% r-PET bottle preform throughout our entire brand portfolio, reducing the amount of plastic we used by over 1.5 million tons between 2018 and 2022.

We are proud to have joined the Ellen MacArthur Foundation’s Polish Plastics Pact Network, a globally aligned response to plastic waste and pollution, which enables vital knowledge sharing and coordinated action.

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Vier Diamanten has been enjoyed by generations of people since it was launched over 60 years ago and remains Austria’s favourite – and largest tuna brand.*

VERTRAUE VERTRAUEN A N SIE KEINER AUE KEINE WERBUNG. WERBUNG WE VERTRAUEN VERTRAUE AUEN SIE IHREM AUE IHR HREM GESCHMACK. HR GESC CHMAC

P R E M I U M Q UA L I TÄT S E I T 1963

V I E R D I A M A N T E N . C O M

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* source: GFK June 2023 / ** source: Nielsen, FOM / ***source: Wavemaker, 2023

The brand consistently serves high quality tuna steaks in a range of variations, ranging from delicious tuna dressings to a classic tuna in oil. Last year the brand relaunched its salads and introduced a brand-new frozen range in response to consumer demand.

Vier Diamanten has been able to remain ‘Austria’s most beloved tuna brand’ by continuously adapting to changes in consumer demand. It currently sells 6 out of the Top 10 SKUs in Austria**, which shows the broad consumer base of the brand.

vierdiamanten.com

STRONG SUPPORT

SUSTAINABILITY

Promotional activities, often supported with exclusive Vier Diamanten displays, run in the main grocery channels. New promotional items, such as a ‘2+1 free’ have been launched to further strengthen its promotional offer amongst a vast variety of consumers.

Vier Diamanten is delighted to be continuing its successful partnership with Plastic Bank for a second year and has pledged to prevent 2.5 million plastic bottles ending up in the sea.

The brand is supported with consistent media investment on national television with an established campaign that is recognized by many consumers***. To attract a younger audience the brand has a strong presence on social media channels including Facebook and Instagram.

Sustainability remains at the heart of Vier Diamanten. The brand has been using sustainable fishing methods for many years, before a universal standard was developed, and will move its full portfolio to the industry standard MSC during 2024. The first products are already making it to the market.

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GROUP HEAD OFFICE (UK)

CONTINENTAL EUROPE HEAD OFFICE

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

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

princesgroup.com

ITALY OFFICE

POLAND OFFICE

MAURITIUS OFFICE

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