Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness
I

Who is Alpro ?

II

Learnings on
Performance Management
outside Alpro

III

Practice of
Performance Management
@ Alpro
Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

-2-
North America
Plant-Based Foods
& Beverages

Premium Dairy

Brand
Position

#1

#1

Subcategory
Share1

58%

45%

Europe
Coffee Creamers
& Beverages

#2

2

Int’l Delight: 30%
Land O Lakes: 22%

Plant-Based Foods
& Beverages

#1
38%

Category
Growth

Performance-oriented
People-driven
1) Please refer to the Industry and Market Data section in the company’s October 25, 2012 IPO prospectus for source descriptions and
category definitions Ambition I Leverage I Professionalism I Results I Ownership
Authenticity I Leadership I Passion I Respect I Openness
2) Represents International Delight only

-3-
Key facts and figures about Alpro
•!

Alpro founded in 1980 and acquired by Dean Foods mid 2009

•!

Part of The WhiteWave Foods Company since mid 2012 NYSE

•!

Grown to ! 286 million in revenues in 2012 (US GAAP) (! 304 mio IFRS)

•!

European market leader in non-dairy plant-based products

•!

2 power brands: Alpro® and Provamel®

•!

6 product categories

•!

3 channels

•!

4 wholly-owned commercial organisations in BE, NL, UK and GE and more
than 30 commercial partnerships in all other primary European markets

•!

4 plants in BE, FR, UK and NL

•!

~850 employees
Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

-4-
Alpro mission anchored
in sustainable development

“We create delicious
naturally-healthy
plant-based foods
for the maximum wellbeing of everyone
and with the utmost respect for our planet”

Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

-5-
Evidence shows that healthy and
sustainable foods go hand in hand

Source: Barilla Centre for Food Nutrition
Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

-6-
3. Innovation

6 product categories
Drinks

Desserts

Yofu

Cream

Meat-free

Margarine

Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

-7-
Alpro driving innovation in 3 dimensions

Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

-8-
Innovations 2012

Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

-9-
Innovations in 2012

Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

- 10 -
I

Who is Alpro ?

II

Learnings on
Performance Management
outside Alpro

III

Practice of
Performance Management
@ Alpro
Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

- 11 -
A UNIVERSAL STRUGGLE

Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

- 12 -
Learnings of Performance Management outside Alpro
The Bad – The Ugly

Impact

Performance Management
Process not embedded in
the Business Processes

•!Personal & Team Objectives not in
synch with heartbeat of the business
•!Lack of mobilization/connection of
the Workforce
•!Performance Management gets
considered as “bureaucratic
overhead”
•!HR fighting the “uphill battle”

Inconsistent roll-out of
Performance Management
across Business Segments
(optional versus mandatory)

•!Feeling of unfairness when
eventually “all” get Compensation
•!Performance Management (or lack
of) becomes an “Ego booster” for
Leaders – HR as chaser for 100%
•!HR considered as “powerless” and
“spine-less”, without overall
business impact

Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

- 13 -
Learnings of Performance Management outside Alpro
The Bad – The Ugly

Impact

The translation of
Performance Management
“results” into
Compensation varies
fundamentally over the
years (eg mathematical
bonus calculation vs bonus
based on management
discretion, eg gaussian/non
gaussian distribution, ")

•!Major efforts to explain (reason for)
changes in this translation – HR as
messenger/scapegoat
•!HR accused of having no long term
vision on the basics of HR (SMART
or not SMART", forced distribution
or non forced distribution")

Dramatic difference
between functions when
translating Performance
Management into
compensation (eg sales vs
non-sales)

•!Unhealthy friction between people
working for same “customer” but in
different functions
•!Disengagement of people
•!Power games to belong to the
“happy few”

Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

- 14 -
Learnings of Performance Management outside Alpro
The Bad – The Ugly

Impact

Overengineered
Performance Management
Systems

•!Line Management considers large
part of time spent on Performance
Management as waste
•!Performance Management
becomes a “tick the box” exercise
•!HR needs to install “help-desk” to
preserve its image
•!ROI low : many features not used

Frequent redesign of the
Performance Management
process and system over
the years

•!Major efforts required to align the
organization – management and
workforce get confused and start
neglecting the changes
•!HR accused of focussing on
change of processes and systems
instead of content (“HR is business
partner ??”)

Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

- 15 -
Learnings of Performance Management outside Alpro
The Bad – The Ugly

Impact

Despite application of
Performance Management
underperformance
regularly lacks
documentation (tactical
reasons)

•!Delay in taking the necessary
actions (especially when dealing
with active unions)
•!Will become a bigger issue in light
of the new Blue Collar-White Collar
legislation changes

When a company is in a bad
financial situation, priority
on Performance
Management drops.

•!HR is not always agile enough to
position Performance Management
in different contexts : “How does
Performance Management motivate
people to excel in a financially bad
situation ?”

Performance-oriented
Ambition I Leverage I Professionalism I Results I Ownership

People-driven
Authenticity I Leadership I Passion I Respect I Openness

- 16 -

Performance Management : the good, the bad, the ugly

  • 1.
    Performance-oriented Ambition I LeverageI Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness
  • 2.
    I Who is Alpro? II Learnings on Performance Management outside Alpro III Practice of Performance Management @ Alpro Performance-oriented Ambition I Leverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness -2-
  • 3.
    North America Plant-Based Foods &Beverages Premium Dairy Brand Position #1 #1 Subcategory Share1 58% 45% Europe Coffee Creamers & Beverages #2 2 Int’l Delight: 30% Land O Lakes: 22% Plant-Based Foods & Beverages #1 38% Category Growth Performance-oriented People-driven 1) Please refer to the Industry and Market Data section in the company’s October 25, 2012 IPO prospectus for source descriptions and category definitions Ambition I Leverage I Professionalism I Results I Ownership Authenticity I Leadership I Passion I Respect I Openness 2) Represents International Delight only -3-
  • 4.
    Key facts andfigures about Alpro •! Alpro founded in 1980 and acquired by Dean Foods mid 2009 •! Part of The WhiteWave Foods Company since mid 2012 NYSE •! Grown to ! 286 million in revenues in 2012 (US GAAP) (! 304 mio IFRS) •! European market leader in non-dairy plant-based products •! 2 power brands: Alpro® and Provamel® •! 6 product categories •! 3 channels •! 4 wholly-owned commercial organisations in BE, NL, UK and GE and more than 30 commercial partnerships in all other primary European markets •! 4 plants in BE, FR, UK and NL •! ~850 employees Performance-oriented Ambition I Leverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness -4-
  • 5.
    Alpro mission anchored insustainable development “We create delicious naturally-healthy plant-based foods for the maximum wellbeing of everyone and with the utmost respect for our planet” Performance-oriented Ambition I Leverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness -5-
  • 6.
    Evidence shows thathealthy and sustainable foods go hand in hand Source: Barilla Centre for Food Nutrition Performance-oriented Ambition I Leverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness -6-
  • 7.
    3. Innovation 6 productcategories Drinks Desserts Yofu Cream Meat-free Margarine Performance-oriented Ambition I Leverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness -7-
  • 8.
    Alpro driving innovationin 3 dimensions Performance-oriented Ambition I Leverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness -8-
  • 9.
    Innovations 2012 Performance-oriented Ambition ILeverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness -9-
  • 10.
    Innovations in 2012 Performance-oriented AmbitionI Leverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness - 10 -
  • 11.
    I Who is Alpro? II Learnings on Performance Management outside Alpro III Practice of Performance Management @ Alpro Performance-oriented Ambition I Leverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness - 11 -
  • 12.
    A UNIVERSAL STRUGGLE Performance-oriented AmbitionI Leverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness - 12 -
  • 13.
    Learnings of PerformanceManagement outside Alpro The Bad – The Ugly Impact Performance Management Process not embedded in the Business Processes •!Personal & Team Objectives not in synch with heartbeat of the business •!Lack of mobilization/connection of the Workforce •!Performance Management gets considered as “bureaucratic overhead” •!HR fighting the “uphill battle” Inconsistent roll-out of Performance Management across Business Segments (optional versus mandatory) •!Feeling of unfairness when eventually “all” get Compensation •!Performance Management (or lack of) becomes an “Ego booster” for Leaders – HR as chaser for 100% •!HR considered as “powerless” and “spine-less”, without overall business impact Performance-oriented Ambition I Leverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness - 13 -
  • 14.
    Learnings of PerformanceManagement outside Alpro The Bad – The Ugly Impact The translation of Performance Management “results” into Compensation varies fundamentally over the years (eg mathematical bonus calculation vs bonus based on management discretion, eg gaussian/non gaussian distribution, ") •!Major efforts to explain (reason for) changes in this translation – HR as messenger/scapegoat •!HR accused of having no long term vision on the basics of HR (SMART or not SMART", forced distribution or non forced distribution") Dramatic difference between functions when translating Performance Management into compensation (eg sales vs non-sales) •!Unhealthy friction between people working for same “customer” but in different functions •!Disengagement of people •!Power games to belong to the “happy few” Performance-oriented Ambition I Leverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness - 14 -
  • 15.
    Learnings of PerformanceManagement outside Alpro The Bad – The Ugly Impact Overengineered Performance Management Systems •!Line Management considers large part of time spent on Performance Management as waste •!Performance Management becomes a “tick the box” exercise •!HR needs to install “help-desk” to preserve its image •!ROI low : many features not used Frequent redesign of the Performance Management process and system over the years •!Major efforts required to align the organization – management and workforce get confused and start neglecting the changes •!HR accused of focussing on change of processes and systems instead of content (“HR is business partner ??”) Performance-oriented Ambition I Leverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness - 15 -
  • 16.
    Learnings of PerformanceManagement outside Alpro The Bad – The Ugly Impact Despite application of Performance Management underperformance regularly lacks documentation (tactical reasons) •!Delay in taking the necessary actions (especially when dealing with active unions) •!Will become a bigger issue in light of the new Blue Collar-White Collar legislation changes When a company is in a bad financial situation, priority on Performance Management drops. •!HR is not always agile enough to position Performance Management in different contexts : “How does Performance Management motivate people to excel in a financially bad situation ?” Performance-oriented Ambition I Leverage I Professionalism I Results I Ownership People-driven Authenticity I Leadership I Passion I Respect I Openness - 16 -