Fresh Mushroom Sales Trends and Market Insights July 2022

Four weeks ending July 10, 2022

Methodology The report covers the four weeks ending July 10, 2022 with week endings: June 19, 2022 June 26, 2022 July 3, 2022 July 10, 2022 Comparisons to year ago (YA) refer to 2021; comparisons to two years ago (2YA) refer to 2020 and 3YA to 2019 Dollar references are the retail value, volume is reflected in pounds Data is based on the IRI total multi-outlet universe, which includes supermarkets, supercenters, club, commissaries, etc. It does not include the specialty stores, such as Whole Foods or Sprouts Source: IRI, Integrated Fresh, MULO, 4 weeks ending 7/10/2022 2

Four-year dollar sales trend Dollar sales fell below YA and 2YA levels, but remained well above 2019 Fresh mushrooms dollar sales four w.e. 7/10/2022 Fresh mushrooms dollar sales YTD through 7/10/2022 $760,630,963 $736,460,803 $700,811,631 $106,437,754 $636,161,601 $94,379,725 $91,842,841 $83,478,415 2019 2020 2021 2022 2019 2020 2021 2022 Source: IRI, Integrated Fresh, MULO, 4 weeks and year-to-date ending 7/10/2022 versus same periods the past four years 3

Four-year unit sales trend Unit sales were below 2019 levels in the quad week and year-to-date views Fresh mushrooms unit sales four w.e. 7/10/2022 Fresh mushrooms unit sales YTD w.e. 7/10/2022 39,678,963 289,078,203 272,438,523 34,753,600 251,712,060 246,174,097 32,667,864 31,352,362 2019 2020 2021 2022 2019 2020 2021 2022 Source: IRI, Integrated Fresh, MULO, 4 weeks and year-to-date ending 7/10/2022 versus same periods the past four years 4

Four-year volume (pound) sales trend YTD and the quad-week view, pounds were virtually even with 2019 levels Fresh mushrooms volume sales four w.e. 7/10/2022 Fresh mushrooms volume sales YTD w.e. 7/10/2022 179,961,922 24,889,099 172,430,348 22,010,122 154,883,210 154,286,880 20,094,670 19,634,925 2019 2020 2021 2022 2019 2020 2021 2022 Source: IRI, Integrated Fresh, MULO, 4 weeks and year-to-date ending 7/10/2022 versus same periods the past four years 5

Mushroom contribution to the department and category The mushroom share of total produce and vegetables is below prior year levels 4 w.e. 7/10/2022 Mushroom $ share Share of total produce Share of total vegetables YTD through w.e. 7/10/2022 Mushroom $ share Share of total produce Share of total vegetables 2019 1.6% 3.4% 2019 1.8% 3.7% 2020 1.8% 3.7% 2020 2.0% 3.9% 2021 1.6% 3.4% 2021 1.9% 3.8% 2022 1.5% 3.2% 2022 1.7% 3.6% Source: IRI, Integrated Fresh, MULO, 4 weeks and year-to-date ending 7/10/2022 6

Mushrooms price per unit Price increases for mushrooms were below average which automatically deflates the share 4 w.e. 7/10/2022 Average price/unit Total produce Total vegetables Mushrooms 2019 $2.27 $1.91 $2.56 2020 $2.30 $2.00 $2.68 2021 $2.38 $1.99 $2.72 2022 $2.58 | +8.2% $2.18 | 9.5% $2.93 | +7.9% Source: IRI, Integrated Fresh, MULO, YTD weeks ending 7/10/2022 7

Mushroom price per volume (pound) On a pound basis, mushroom inflation exceeded total vegetables and produce for the first time since the start of the pandemic 4 w.e. 7/10/2022 Average price/pound Total produce Total vegetables Mushrooms 2019 $1.44 $1.72 $4.15 2020 $1.50 $1.80 $4.28 2021 $1.55 $1.80 $4.29 2022 $1.67 | +7.4% $1.96 | +8.8% $4.68 | +9.1% Source: IRI, Integrated Fresh, MULO, YTD weeks ending 7/10/2022 8

Price per volume by quarter/month The rate of inflation for mushrooms reached its fastest acceleration yet, at +9.1% Mushrooms price per pound and change vs. YA (fixed and random weight) $4.80 10.0% $4.68 9.1% $4.65 $4.70 9.0% $4.52 $4.54 $4.60 8.0% 8.3% $4.48 $4.50 7.0% $4.40 6.7% $4.40 6.0% $4.32 6.1% $4.27 $4.27 $4.25 $4.30 $4.23 5.0% $4.19$4.25 4.9% $4.20 $4.13 4.0% $4.10 3.5% 3.0% 3.1% $4.00 2.0% 2.5% 2.3% 2.1% 1.9% $3.90 1.8% 2.3% 1.0% $3.80 0.0% 0.4% Q2 21 2019 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q3 21 Q4 21 Q1 22 4 we 4/17/22 4 we 5/15/22 4 we 6/12/22 4 we 7/10/22 Source: IRI, Integrated Fresh, MULO, 2019-7/10/2022 9

Price per volume and unit by type YTD through w.e. 7/10/2022 Price per pound % change vs. 21 % change vs. 20 Total mushrooms $4.54 +6.3% +7.5% White mushrooms $4.00 +6.1% +6.2% Brown mushrooms $4.96 +7.2% +7.1% Specialty mushrooms $13.61 +11.1% +11.0% YTD through w.e. 7/10/2022 Price per unit % change vs. 21 % change vs. 20 Total mushrooms $2.85 +5.3% +8.2% White mushrooms $2.59 +5.0% +6.9% Brown mushrooms $3.09 +5.6% +8.4% Specialty mushrooms $4.57 +10.3% +11.6% Brown mushrooms include crimini and portabella Specialty mushrooms include shiitake, oyster, enoki, chanterelle, morel, wood ear, porcini, black forest and other Source: IRI, Integrated Fresh, MULO, YTD through weeks ending 7/10/2022 10

Share of dollars and pounds sold on merchandising For the first time this year, more mushrooms were sold on promotion than during the same period a year ago Fresh mushrooms 4 w.e. Vs. 2021 Building CY thru 7/10/2022 Vs. 2021 7/10/2022 Share of dollars sold on promotion 17.5% +15.5% 15.2% -2.8% Share of pounds sold on promotion 21.3% +23.0% 17.9% -0.3% * Any merchandising, including feature, display, feature & display and temporary price reductions Source: IRI, Integrated Fresh, MULO, YTD through weeks ending 7/10/2022 11

Mushroom dollar, unit, volume sales Mushroom dollars still exceed the 2019 levels, but units and volume fell below 4 w.e. 7/10/2022 dollars $91.8M -10.8% -2.7% -9.8% Dollar Unit Volume growth vs. YA growth vs. YA growth vs. YA volume (lbs) 20M -15.7% vs. 20 +3.7% vs. 19 -21.1% vs. 20 -2.3% vs. 19 -21.0% vs. 20 -4.0% vs. 19 Source: IRI, Integrated Fresh, MULO, 4 weeks ending 7/10/2022 12

Vegetables and mushroom dollar sales vs. YA and 2019 Both mushrooms and vegetables continued to trend above pre-pandemic levels Dollar sales versus year ago and two years ago Fresh vegetables vs. 2019 Fresh vegetables vs YA Fresh mushrooms vs. YA Fresh mushrooms vs. 2019 35.0% 31.2% 30.0% 23.1% 25.0% 17.8% 20.0% 15.6% 15.1% 17.4% 20.7% 15.1% 15.0% 14.7% 13.5% 8.6% 10.6% 12.5% 11.7% 13.3% 10.6% 13.5% 9.5% 8.6% 12.1% 8.2% 15.1% 14.8% 10.0% 10.2% 3.3% 2.9% 5.0% 8.4% 1.3% 0.1% -0.1% 4.7% 0.0% -3.2% 4 we 4/17/22 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2021 4 we 5/15/22 4 we 6/12/22 -2.4% -5.0% -5.8% -7.1% -6.4% -10.0% -4.1% -5.9% -9.2% -15.0% -12.6% Source: IRI, Integrated Fresh, MULO, 2019-w.e. 7/10/2022 13

Vegetables and mushroom pound sales vs. YA and 2019 Vegetables had a strong quad week with two holidays in this quad-week period Volume (pound) sales versus year ago and two years ago Fresh vegetables vs YA Fresh vegetables vs. 2019 Fresh mushrooms vs. YA Fresh mushrooms vs. 2019 30.0% 27.2% 25.0% 20.5% 20.0% 15.1% 15.3% 12.4% 15.0% 9.5% 6.6% 9.5% 10.7% 10.0% 7.4% 10.1% 9.7% 5.6% 6.1% 5.5% 6.1% 4.1% 6.9% 2.2% 5.0% 3.0% -0.4% 4 we 4/17/22 2.4%0.2% -0.2%-3.3% 4 we 5/15/22 1.0% -2.3% 0.0% 0.0% Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 4 we 6/12/22 4 we 7/10/22 -5.0% -2.5% -3.6% -3.6% -4.5% -5.6% -10.2%-8.8% -5.3% -6.0% -8.0% -10.0% -9.6% -10.8% -10.9% -11.5% -11.8% -12.9% -15.0% Source: IRI, Integrated Fresh, MULO, 2019-w.e. 7/10/2022 14

Base and incremental sales Slightly higher incremental dollars in the last four weeks Volume sales four w.e. 7/10/2022 Dollar sales four w.e. 7/10/2022 Base Incremental Base Incremental $800,000,000 180,000,000 2.9% incremental 5.6% incremental 160,000,000 $700,000,000 140,000,000 $600,000,000 120,000,000 $500,000,000 100,000,000 $400,000,000 80,000,000 $300,000,000 60,000,000 $200,000,000 40,000,000 3.4% incremental 6.4% incremental $100,000,000 20,000,000 $0 0 YTD 2022 4 we 5/15/22 YTD 2022 4 we 5/15/22 Source: IRI, Integrated Fresh, MULO, 4 weeks ending 7/10/2022 15

Over indexing versus under indexing regions Under indexing regions are catching up Use as comparison to understand importance/size of mushrooms YTD w.e. 7/10/2022 Share of veg. $ Share of mushrooms $ $ sales WEST PLAINS growth vs. YA GREAT LAKES Total US California Great Lakes Mid-South Northeast Plains South Central Southeast West 100.0% 11.4% 13.4% 13.1% 18.3% 6.7% 9.0% 15.3% 12.8% 100.0% 12.3% 15.2% 11.8% 18.1% 6.5% 7.4% 13.4% 15.3% -4.8% -6.4% -6.0% -2.4% -5.7% -4.6% -5.5% -3.8% -4.0% NORTHEAST MID SOUTH CALIFORNIA SOUTHEAST SOUTH CENTRAL = Above-average share = Above-average performance Source: IRI, Integrated Fresh, MULO, YTD through 7/10/2022 | Total fresh vegetables and total fresh mushrooms 16

Performance summary whites, browns and exotics Dollar sales for browns up 17.8% versus pre-pandemic levels Dollar share $ sales vs. 2021 $ sales vs. 2019 Volume (lbs) Lbs Lbs Lbs vs. 2019 4 weeks ending 7/10/2022 Dollars share vs. 2021 $91.8M 100.0% -2.7% +10.0% 19.6M 100.0% -10.8% -2.3% Total fresh mushrooms $49.2M 53.6% -1.9% +3.7% 12.0M 60.9% -9.9% -6.8% White mushrooms $38.0M 41.4% -2.3% +17.8% 7.3M 37.4% -11.6% +5.7% Brown mushrooms $4.6M 5.0% -13.3% +22.7% 0.3M 1.7% -23.2% +3.5% Specialty mushrooms Source: IRI, Integrated Fresh, MULO, 4 weeks ending 7/10/2022 17

White button mushrooms dollar performance Dollars YTD through 7/10/2022 $373M White button mushroom, $ and % vs YA (fixed and random weight) 4 WE 4/17 4 WE 5/15 4 WE 6/12 4 WE 7/10 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 15.0% $250,000,000 10.0% -5.1% vs YA $191M $182M $200,000,000 $173M $169M 5.0% $158M 4.6% -1.9% 0.0% $150,000,000 -3.1% -3.0% -6.7% -5.8% Average price/unit $2.59 -5.0% $100,000,000 -6.3% $54M -10.0% $51M $50M $49M $50,000,000 -10.8% -15.0% -16.4% -20.0% $0 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 4 WE 4/17 4 WE 5/15 4 WE 6/12 4 WE 7/10 +5.0% vs YA Source: IRI, Integrated Fresh, MULO, 2021 plus 4 weeks ending 7/10/2022 18

White button mushrooms volume performance Pounds YTD through w.e. 7/10/2022 93.3M White button mushroom, lbs and % vs YA (fixed and random weight) 4 WE 4/17 4 WE 5/15 4 WE 6/12 4 WE 7/10 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 15.0% 60,000,000 50.7M 10.0% -10.5% vs YA 46.0M 45.1M 44.4M 50,000,000 41.6M 5.0% 40,000,000 3.5% 0.0% 30,000,000 Average price/pound $4.00 -5.0% -8.3% -10.0% -11.3% -9.9% 20,000,000 -10.0% 13.6M 12.3M 12M 12.8M -9.6% -11.0% -15.0% 10,000,000 -12.2% -15.7% -20.0% - Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 4 WE 4/17 4 WE 5/15 4 WE 6/12 4 WE 7/10 +6.1% vs. YA Source: IRI, Integrated Fresh, MULO, 2021 plus 4 weeks ending 7/10/2022 19

Crimini mushrooms dollar performance Dollars YTD through w.e. 7/10/2022 $218M Crimini mushroom, $ and % vs YA (fixed and random weight) 4 WE 4/17 4 WE 5/15 4 WE 6/12 4 WE 7/10 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 20.0% $109.9M $107.7M $120,000,000 $98.5M 15.0% $95.8M -1.7% vs. YA 15.6% $100,000,000 $89.2M 10.0% $80,000,000 5.0% 1.1% 0.5% -1.0% 0.0% -2.0% Average price/unit $3.09 -3.1% $60,000,000 -5.8% -5.0% -6.7% $31.4M $30.4M $40,000,000 $28.9M $28M -10.0% -9.1% $20,000,000 -15.0% -20.0% $0 +6.4% vs. YA Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 4 WE 4/17 4 WE 5/15 4 WE 6/12 4 WE 7/10 Source: IRI, Integrated Fresh, MULO, 2021 plus 4 weeks ending 7/10/2022 20

Crimini mushrooms volume performance Pounds YTD through w.e. 7/10/2022 46.4M Crimini mushroom, lbs and % vs YA (fixed and random weight) 4 WE 4/17 4 WE 5/15 4 WE 6/12 4 WE 7/10 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 20.0% 30,000,000 25.3M 15.0% 23.5M -8.8% vs. YA 22.0M 15.4% 25,000,000 21.9M 10.0% 20.1M 20,000,000 5.0% 0.0% 15,000,000 Average price/pound $4.70 -7.3% -5.0% -11.6% -10.6% -9.4% 10,000,000 5.9M 6.7M 6.2M 5.7M -7.8% -10.0% -8.9% -8.5% -8.3% 5,000,000 -15.0% -20.0% - Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 4 WE 4/17 4 WE 5/15 4 WE 6/12 4 WE 7/10 +7.8% vs. YA Source: IRI, Integrated Fresh, MULO, 2021 plus 4 weeks ending 7/10/2022 21

OTHER INSIGHTS Packaged (fixed weight) versus random weight Package-size analysis Organic versus conventional Value-added versus whole/uncut 22

Packaged (fixed weight) versus random weight While both down, fixed weight did better than random weight 4 W.E. 7/10/2022 | Share of total mushroom sales and sales growth % Fixed weight Random weight Dollar growth -5.0% -12.8% Share of mushroom $ sales 94.9% 5.1% Volume growth -13.3% -24.5% Share of mushroom lbs sales 95.5% 4.5% Source: IRI, Integrated Fresh, MULO, 4 weeks ending 7/10/2022 23

Package size analysis 8 and 16 ounces drive the bulk of sales; 8 ounce had another strong performance Package size (per UPC) Dollars $ vs. YA $ vs. 2YA Pounds lbs vs. YA lbs vs. 2YA <8 OZ $7.8M -6.7% -11.1% 662,238 -14.3% -17.7% 8 OZ $48M -1.2% -16.2% 9,715,652 -8.4% -22.8% >8 OZ < 16 OZ $5.1M -10.6% -25.6% 1,078,147 -19.2% -31.7% 16 OZ $16.8M -6.4% -14.0% 4,490,667 -13.7% -20.5% >16 OZ $4.9M -24.0% -29.4% 1,520,783 -35.5% -41.6% Random weight $4.2M -11.1% -20.5% 773,949 -15.7% -27.6% Source: IRI, Integrated Fresh, MULO, 4 weeks ending 7/10/2022 24

Organic versus conventional mushrooms sales The organic share of mushroom dollar sales reached 12.7% 4 WE 7/10/2022 | Share of total mushroom sales and sales growth % Unit growth -11.8% Volume growth -13.9% Market size $75.7M $ growth -6.5% Conventional Unit growth -8.9% Volume growth -13.7% Market size $11.2M $ growth +2.6% Organic 9.7% of pound sales Source: IRI, Integrated Fresh, MULO, 4 weeks ending 7/10/2022 compared with year ago 25

Organic by type Brown mushrooms had the highest organic share, specialty drove growth Dollars 4 w.e. 7/10/2022 Organic $ % change vs. 21 Conventional $ % change vs. 21 Total mushrooms $11,223,705 +2.6% $75,738,646 -6.5% White mushrooms $4,117,220 +0.6% $42,348,690 -4.6% Brown mushrooms $5,820,384 -0.9% $30,123,399 -6.8% Specialty mushrooms $1,286,101 +32.0% $3,266,496 -23.9% Volume 4 w.e. 7/10/2022 Organic lbs % change vs. 21 Conventional lbs % change vs. 21 Total mushrooms 1,777,211 -13.7% 16,464,536 -13.9% White mushrooms 761,155 -5.9% 10,327,084 -12.7% Brown mushrooms 916,707 -21.0% 5,903,892 -14.9% Specialty mushrooms 99,348 12.7% 233,554 -32.6% Source: IRI, Integrated Fresh, MULO, 4 weeks ending 7/10/2022 26

Cut/prepared versus whole mushrooms No preparation (whole) had the better performance 4 w.e. 7/10/2022 | Share of total mushroom sales and sales growth % Unit growth -9.6% Volume growth -14.0% Market size $40.8M $ growth -3.4% No preparation Unit growth -13.1% Volume growth -13.7% Market size $46.2M $ growth -7.2% Cut/prepped 51.2% of lbs sales Source: IRI, Integrated Fresh, MULO, 4 weeks ending 7/10/2022 compared with year ago 27

Cut/prepared by type Brown mushrooms represented the largest share but white had the better dollar performance Dollars 4 w.e. 7/10/2022 Cut/prepared $ % change vs. 21 Whole $ % change vs. 21 Total mushrooms $46,203,288 -3.4% $40,759,063 -7.2% White mushrooms $23,599,461 -0.8% $22,866,449 -7.2% Brown mushrooms $19,569,274 -5.1% $16,374,509 -6.6% Specialty mushrooms $3,034,553 -18.7% $1,518,105 -10.9% Pounds 4 w.e. 7/10/2022 Cut/prepared lbs % change vs. 21 Whole lbs % change vs. 21 Total mushrooms 9,332,099 -13.7% 8,909,648 -14.0% White mushrooms 5,682,281 -13.5% 5,405,959 -10.9% Brown mushrooms 3,438,015 -13.5% 3,382,584 -18.0% Specialty mushrooms 211,803 -20.6% 121,104 -28.0% Source: IRI, Integrated Fresh, MULO, 4 weeks ending 7/10/2022 28