5 September 2014

1. Presentation 1 5 September 2014 1

2. Our vision • ”Our vision is to be the leading dairy company in Europe through considerable value creation and active market leadership to obtain the highest possible milk price.”

3. Our mission • ”Our mission is to offer modern consumers natural, milk-based food products that create inspiration, confidence and wellbeing.”

4. Our values

5. Product | Consumer We must make nature available to everyone Company | Society We must let nature direct our company Closer to Nature™ Our promise Our promise Milk Ingredients Packaging Production Distribution Corporate commitment

6. Our quality programme Arla Gaarden

7. Arla Foods facts …

8. Turnover by products Total DKK 46.2 billion (≈GBP 5.530 M) Others 6.5% Butter and spreads 12.9% Ingredients 11.8% Fresh products44.3% Cheese 24.5% Arla Foods 2009

9. Arla Foods ownership • Arla Foods is a cooperative owned by approximately 7,600 Swedish and Danish milk farmers Arla Foods 2009

10. 9 Employees across the world Arla Foods 2009

11. Arla across the world Argentina,Bangladesh,Brazil, Canada, China, Denmark,Dominikan Rep.,Estonia, Finland,France, Germany, Greece,Holland, Italy,Japan, Korea, Kuwait, Libanon, Malaysia, Mexico, Nigeria, Norway, Poland, Qatar, Russia,Saudi Arabia,Singapore, Spain, Sweden, UK,United Arab Emirates, USA, Vietnam • = sales offices only • = countries with production and sales

12. Our core marketsUK, Denmark, Sweden, Finland, Holland and Germany • Helsingfors • Stockholm • Århus • Leeds

13. Strategic focus areas

14. 1st focus area Wewant to create the bestdairycompany for 250+ million consumers in NorthernEurope/UK • Desired position in the core markets • Nr. 1 in UK • Nr. 1 in Sweden • Nr. 1 in Denmark • Nr. 2 in Finland • Nr. 2 in Holland • Top 3 in Germany • Growth Markets • Russia, USA, China, The Middle East/North Africaand Poland

15. 20 5th focus area We want to reduce our CO2 emissions by 25% before 2020 -25% CO2 • Food production • Transport • Packaging In primary agriculture we will work with our co-operative members, research institutions and industry organisations to achieve as high a CO2 reduction on dairy farms, as possible 15

16. An agricultural co-operative The owners (7,625) 3,838 3,787 Membership districts (50) Membership democracy: one person, one vote. 26 24 3 regions 4 regions Board of Representatives (140) 82 58 The Board of Directors (14) 8 6 Arla Foods 2009

17. Arla Foods amba The owners Membership districts 4 regions 3 regions Board of representatives Board of Directors Executive Management Group Global matters that extend across the Arla organisation are handled by Corporate Centre for long term development, and Global Business Services for operational support. Arla also has four Business Groups for production, innovation and sales. Corporate Centre & Global Business Services ConsumerNordic ConsumerUK ConsumerInternational Global Categories & Operations Arla Foods Global Ingredients* *) subsidairy

18. Arla, seventh largest in the worldTurnover of dairy products in 2009 (EUR billion) Merger in Jan. 2009 Type of company Private Member-owned 0 5 10 15 20 Source: Rabobank International, June 2010

19. Development in the number of milk producers Sweden Denmark Arla in Sweden Arla in Denmark Milk intake has not fallen at a corresponding rate because many farms are increasing their production.

20. Current Swedish dairies Annual milk received billion kg 2009 Co-operative dairies Private dairies Arla Foods amba 1 894 Östgöta Mjölk 24 Wapnö AB 10 Skånemejerier 353 Emå Mejeri 7 Milko 292 Hjordnära Mejeri 4 Norrmejerier 192 Järna Mejeri 0,5 Falköpings Mejeri 89 Skärvångens Bymejeri 0,4 Gefleortens mejeriförening 36 Gäsene mejeriförening 18 Sju Gårdar 5 Source: Svensk Mjölk 5 september 2014 20

21. Thankyou 21