PART I: FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Q1 2022 net sales increased to $1.14 billion, but gross profit and net income fell, and operating cash flow turned negative [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Total assets grew to $3.50 billion, liabilities to $1.58 billion, and equity to $1.87 billion as of April 1, 2022 Consolidated Balance Sheet Highlights (in millions) | Balance Sheet Item | April 1, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total current assets** | $1,218.0 | $1,096.4 | | **Total assets** | $3,501.8 | $3,398.1 | | **Total current liabilities** | $676.3 | $629.2 | | **Long-term debt and finance leases** | $562.3 | $527.7 | | **Total liabilities** | $1,578.5 | $1,524.6 | | **Total shareholders' equity** | $1,874.6 | $1,824.0 | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) Q1 2022 net sales rose to $1.14 billion, but gross profit and net income attributable to the company declined significantly Q1 2022 vs Q1 2021 Statement of Operations (in millions, except per share data) | Metric | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | Net sales | $1,136.9 | $1,088.3 | | Gross profit | $89.8 | $105.0 | | Operating income | $39.8 | $59.7 | | Net income attributable to Fresh Del Monte | $25.8 | $42.7 | | Diluted EPS | $0.54 | $0.90 | | Dividends declared per share | $0.15 | $0.10 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Q1 2022 net cash used in operating activities was $0.3 million, a significant downturn from the prior year's positive cash flow Q1 2022 vs Q1 2021 Cash Flow Summary (in millions) | Cash Flow Activity | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(0.3) | $46.8 | | Net cash used in investing activities | $(16.6) | $(25.9) | | Net cash provided by (used in) financing activities | $26.7 | $(12.7) | | Net increase in cash and cash equivalents | $9.2 | $9.9 | [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail business segments, $156.5 million in tax disputes, a $1.1 billion credit facility, and increased quarterly dividends - The company operates through three reportable segments: Fresh and value-added products, Banana, and Other products and services[30](index=30&type=chunk)[31](index=31&type=chunk)[32](index=32&type=chunk) - The company is contesting income tax deficiencies of approximately **$156.5 million** (including interest and penalties) from two foreign jurisdictions related to transfer pricing for tax years 2012-2016[40](index=40&type=chunk) - As of April 1, 2022, the company had **$554.1 million** outstanding under its **$1.1 billion** senior unsecured revolving credit facility[69](index=69&type=chunk)[70](index=70&type=chunk) Q1 2022 Net Sales by Segment (in millions) | Segment | Net Sales | | :--- | :--- | | Fresh and value-added products | $672.7 | | Banana | $406.0 | | Other products and services | $58.2 | | **Total** | **$1,136.9** | - The company paid a dividend of **$0.15 per share** in Q1 2022, totaling **$7.2 million**, with a subsequent quarterly dividend declared on May 3, 2022[126](index=126&type=chunk)[127](index=127&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Sales growth was driven by price increases, but cost inflation eroded gross profit and operating income, with negative operating cash flow [Overview and Economic Environment](index=28&type=section&id=Overview%20and%20Economic%20Environment) The company faces significant inflationary pressures on costs, leading to price increases, with asset optimization program delays - The company is experiencing significant inflationary and cost pressures impacting production and distribution costs, including packaging, fertilizer, labor, fuel, and freight[132](index=132&type=chunk) - To combat rising costs, the company instituted price increases on the majority of its products starting in late 2021[134](index=134&type=chunk) - The Optimization Program, aimed at selling non-strategic assets for approximately **$100 million**, has generated **$58.6 million** in cash proceeds to date, with completion delayed beyond Q1 2022[136](index=136&type=chunk) [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Q1 2022 net sales increased 5% to $1.14 billion due to price hikes, but gross profit and operating income declined from cost pressures - Net sales increased by **$48.6 million (5%)** in Q1 2022, primarily due to inflation-justified price increases[142](index=142&type=chunk) - Gross profit decreased from **$105.0 million to $89.8 million**, negatively impacted by worsening inflationary pressures on costs for packaging, fertilizers, freight, fuel, and labor[143](index=143&type=chunk) - Operating income decreased by **$19.9 million**, driven by lower gross profit and a net loss on disposal of property, plant, and equipment[147](index=147&type=chunk) [Financial Results by Segment](index=31&type=section&id=Financial%20Results%20by%20Segment) Fresh and Banana segments saw margin declines, while 'Other products and services' sales and gross margin surged from freight services Q1 2022 vs Q1 2021 Segment Performance (in millions) | Segment | Net Sales Q1 2022 | Gross Profit Q1 2022 | Gross Margin Q1 2022 | Net Sales Q1 2021 | Gross Profit Q1 2021 | Gross Margin Q1 2021 | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Fresh and value-added | $672.7 | $44.4 | 6.6% | $631.0 | $52.2 | 8.3% | | Banana | $406.0 | $37.7 | 9.3% | $418.2 | $50.0 | 12.0% | | Other products/services | $58.2 | $7.7 | 13.1% | $39.1 | $2.8 | 7.3% | - The 'Other products and services' segment's net sales increased by **49%** due to higher sales of third-party freight services, benefiting from elevated shipping rates and demand[158](index=158&type=chunk) [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) Operating cash flow turned negative at $0.3 million, with $35.0 million net debt borrowings, but $571.9 million credit facility availability - Net cash used in operating activities was **$0.3 million**, a decrease of **$47.1 million** from the prior year, primarily due to lower net income and higher levels of accounts receivable and inventory[163](index=163&type=chunk) - Net cash provided by financing activities was **$26.7 million**, mainly consisting of **$35.0 million** in net debt borrowings, partially offset by **$7.2 million** in dividends paid[170](index=170&type=chunk) - The company maintains a five-year, **$1.1 billion** syndicated senior unsecured revolving credit facility maturing in October 2024 and was in compliance with all covenants as of April 1, 2022[171](index=171&type=chunk)[174](index=174&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes in market risk exposures were reported compared to the 2021 Annual Report on Form 10-K - There were no material changes in market risk from the disclosures in the company's 2021 Form 10-K[195](index=195&type=chunk) [Controls and Procedures](index=38&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of April 1, 2022, with no material changes to internal control over financial reporting - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of April 1, 2022[197](index=197&type=chunk) - No changes to internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[197](index=197&type=chunk) PART II: OTHER INFORMATION [Legal Proceedings](index=39&type=section&id=Item%201.%20Legal%20Proceedings) The company is contesting **$156.5 million** in foreign income tax deficiencies related to transfer pricing for 2012-2016 - The company is contesting income tax deficiencies related to transfer pricing from two foreign jurisdictions, aggregating approximately **$156.5 million** for tax years 2012-2016[200](index=200&type=chunk) - In one jurisdiction, the company has filed actions in judicial court after losing administrative appeals, while in the other, a judicial action is pending after an administrative appeal was denied[201](index=201&type=chunk)[202](index=202&type=chunk) [Exhibits](index=40&type=section&id=Item%206.%20Exhibits) Exhibits include CEO/CFO certifications and financial statements presented in Inline XBRL format - The report includes CEO and CFO certifications pursuant to SEC rules 13a-14(a) and 13a-14(b) (Sarbanes-Oxley Act Sections 302 and 906)[204](index=204&type=chunk) - Financial data is provided in an interactive format using Inline XBRL (Extensible Business Reporting Language)[204](index=204&type=chunk)

A Brighter Day TomorrowTM Fresh Del Monte Produce Inc. Investor Relations Presentation February 23, 2022 Forward-Looking Statements This presentation contains certain forward-looking statements regarding the intent, beliefs or current expectations of the Company or its officers with respect to the Company's plans and future performance, including (i) expectations regarding the ability to execute on its long-term strategy, (ii) expectations regarding the ability of the Optimization Program to improve the Com ...

Part I [Business](index=4&type=section&id=Item%201.%20Business) Fresh Del Monte is a global, vertically integrated producer and distributor of fresh and prepared food products, primarily under the Del Monte® brand, operating in three segments with North America as its largest market - The company is a leading vertically integrated producer, marketer, and distributor of fresh and fresh-cut fruit and vegetables, with products marketed worldwide under the **Del Monte® brand**[11](index=11&type=chunk) - Business is organized into **three reportable segments**: Fresh and value-added products, Banana, and Other products and services[13](index=13&type=chunk)[14](index=14&type=chunk)[15](index=15&type=chunk) Net Sales by Product Category (2019-2021) | Product Category | 2021 Net Sales ($M) | 2021 % of Total | 2020 Net Sales ($M) | 2020 % of Total | 2019 Net Sales ($M) | 2019 % of Total | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Fresh and value-added products** | **$2,504.8** | **59%** | **$2,484.1** | **59%** | **$2,704.4** | **60%** | | Pineapples | $534.4 | 13% | $458.9 | 11% | $454.8 | 10% | | Fresh-cut fruit | $493.5 | 12% | $464.8 | 11% | $524.4 | 12% | | Fresh-cut vegetables | $366.3 | 9% | $378.9 | 9% | $455.9 | 10% | | Avocados | $320.2 | 7% | $327.1 | 7% | $375.7 | 9% | | Prepared foods | $281.2 | 6% | $278.3 | 7% | $284.6 | 6% | | Other categories | $528.2 | 12% | $570.2 | 14% | $601.1 | 13% | | **Banana** | **$1,581.1** | **37%** | **$1,602.6** | **38%** | **$1,656.0** | **37%** | | **Other products and services** | **$166.1** | **4%** | **$115.6** | **3%** | **$128.6** | **3%** | | **Total** | **$4,252.0** | **100%** | **$4,202.3** | **100%** | **$4,489.0** | **100%** | - In 2021, **43% of fresh produce** sold was grown on company-controlled farms, with the remaining **57% sourced from independent growers**, and Costa Rica representing **32% of total fresh product sales volume**[22](index=22&type=chunk) - **North America** is the largest market, accounting for **60% of net sales in 2021**, followed by Europe (**16%**), Asia (**12%**), and the Middle East (**10%**)[16](index=16&type=chunk)[55](index=55&type=chunk)[58](index=58&type=chunk) - The company's **top 10 customers** accounted for approximately **30% of net sales in 2021**, with **Walmart** being the largest single customer at **7% of total net sales**[54](index=54&type=chunk) [Risk Factors](index=19&type=section&id=Item%201A.%20Risk%20Factors) The company faces numerous risks, including the ongoing impact of the COVID-19 pandemic, significant inflationary pressures, reliance on key suppliers and customers, currency volatility, crop diseases, adverse weather, product contamination, international regulations, and cybersecurity threats - The **COVID-19 pandemic** has adversely affected business through supply chain disruptions, volatile demand, inventory write-downs, and increased logistical costs, with these effects expected to continue[107](index=107&type=chunk)[108](index=108&type=chunk)[109](index=109&type=chunk) - Profit margins are volatile due to fluctuating market prices and rising costs for fuel, labor, fertilizers, and packaging, with material inflation in 2021 adversely affecting margins despite late-year price increases[116](index=116&type=chunk)[117](index=117&type=chunk) - The company is dependent on key suppliers, with one grower in the Philippines supplying approximately **12% of banana net sales**[114](index=114&type=chunk) - Banana Fusarium Wilt Tropical Race 4 (**TR4**), a serious crop disease, has been detected in Southeast Asia and remains a significant concern, incurring **$2.2 million in prevention and control costs in 2021**[175](index=175&type=chunk)[176](index=176&type=chunk) - Operations are subject to currency exchange risks, as nearly **34% of sales in 2021** were in foreign currencies, where a weaker U.S. dollar increases production costs abroad and a stronger dollar negatively affects converted sales proceeds[123](index=123&type=chunk) - The company is involved in tax disputes in two foreign jurisdictions regarding transfer pricing, with proposed income tax deficiencies aggregating approximately **$144.8 million** (including interest and penalties) for tax years 2012-2016, which the company strongly contests[172](index=172&type=chunk) - Adverse weather and natural disasters, such as the 2020 hurricanes in Guatemala and 2021 rainstorms in Chile, can destroy crops and disrupt operations, leading to significant inventory write-offs and property damage[179](index=179&type=chunk)[182](index=182&type=chunk) [Unresolved Staff Comments](index=31&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) There are no unresolved staff comments - None[212](index=212&type=chunk) [Properties](index=31&type=section&id=Item%202.%20Properties) As of 2021, the company owns or leases significant plantation acreage for production in Costa Rica, the Philippines, Guatemala, Kenya, and other countries, alongside 27 distribution centers and various international processing facilities Acres Under Production by Location (2021) | Location | Owned Acres | Leased Acres | Principal Products | | :--- | :--- | :--- | :--- | | Costa Rica | 45,865 | 5,503 | Bananas, Pineapples, Melons | | Philippines | — | 15,611 | Bananas, Pineapples | | Guatemala | 8,475 | 5,589 | Bananas, Melons | | Kenya | — | 8,009 | Pineapples | | Chile | 3,036 | 1,729 | Non-Tropical Fruit | | Panama | — | 2,399 | Bananas | | Brazil | 1,820 | — | Bananas, Other Crops | | United States | 550 | — | Melons and Other Crops | - The company operates **27 distribution centers** in the U.S. and Canada, **15 of which are also fresh-cut facilities**, and owns **11 of these centers**[214](index=214&type=chunk) - Key international properties include a pineapple cannery in Kenya, a juice processing plant in Costa Rica, and integrated poultry operations in Jordan[217](index=217&type=chunk)[219](index=219&type=chunk)[220](index=220&type=chunk) [Legal Proceedings](index=33&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in an ongoing environmental cleanup at the Kunia Well Site in Hawaii, with an estimated remaining cost of **$12.9 million**, and is vigorously contesting proposed income tax deficiencies of approximately **$144.8 million** from two foreign jurisdictions related to transfer pricing for tax years 2012-2016 - The company is addressing environmental contamination at the Kunia Well Site in Hawaii under a consent decree with the EPA, with an accrued cleanup cost of **$12.9 million** as of December 31, 2021[150](index=150&type=chunk)[223](index=223&type=chunk)[667](index=667&type=chunk) - Tax authorities in two foreign jurisdictions have issued income tax deficiencies related to transfer pricing for tax years 2012-2016, totaling approximately **$144.8 million** including interest and penalties, which the company strongly disagrees with and is appealing in judicial court[224](index=224&type=chunk)[225](index=225&type=chunk)[226](index=226&type=chunk) [Mine Safety Disclosures](index=33&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[227](index=227&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=34&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Fresh Del Monte's ordinary shares trade on the New York Stock Exchange under the symbol FDP, with **$0.50 per share** paid in cash dividends in 2021, and a performance graph showing underperformance against relevant indices over five years - The company's Ordinary Shares are traded on the New York Stock Exchange under the symbol **FDP**[230](index=230&type=chunk) - In 2021, the Board of Directors declared and paid cash dividends totaling **$0.50 per share** ($0.10 in Q1/Q2, $0.15 in Q3/Q4)[231](index=231&type=chunk) Five-Year Stock Performance Comparison | | 12/30/2016 | 12/31/2021 | | :--- | :--- | :--- | | Fresh Del Monte Produce Inc. | $100.00 | $48.33 | | S&P Smallcap 600 | $100.00 | $179.58 | | S&P 600 Food Products | $100.00 | $98.80 | [Reserved](index=36&type=section&id=Item%206.%20Reserved) This item is reserved - None [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In fiscal 2021, Fresh Del Monte's net sales increased by **1% to $4.25 billion**, while gross profit grew **21% to $303.8 million**, driven by improved demand and higher pricing that helped offset significant inflationary pressures, with the Optimization Program generating **$57.0 million** in cash proceeds and operating cash flow decreasing to **$128.5 million** due to higher inventory Consolidated Financial Highlights (2019-2021) | Metric | 2021 ($M) | 2020 ($M) | 2019 ($M) | | :--- | :--- | :--- | :--- | | Net sales | 4,252.0 | 4,202.3 | 4,489.0 | | Gross profit | 303.8 | 250.9 | 306.4 | | Operating income | 111.0 | 76.5 | 114.1 | - Fiscal year 2021 had **52 weeks**, while fiscal year 2020 had **53 weeks**, with the extra week in 2020 contributing an estimated **$72.0 million in net sales** and **$2.6 million in gross profit**[241](index=241&type=chunk)[269](index=269&type=chunk)[273](index=273&type=chunk) - The recovery from the COVID-19 pandemic led to significant inflationary pressures in 2021, increasing costs for packaging, fertilizer, labor, fuel, and freight, with price increases implemented in late Q4 2021 to mitigate these impacts[245](index=245&type=chunk) - The company's Optimization Program, initiated in 2020 to sell non-strategic assets, has generated **$57.0 million in cash proceeds** as of December 31, 2021[248](index=248&type=chunk) Cash Flow Summary (2019-2021) | Cash Flow Activity | 2021 ($M) | 2020 ($M) | 2019 ($M) | | :--- | :--- | :--- | :--- | | Net cash provided by operating activities | 128.5 | 180.6 | 169.1 | | Net cash used in investing activities | (82.5) | (108.8) | (52.2) | | Net cash used in financing activities | (53.2) | (85.8) | (108.9) | - Capital expenditures in 2021 were **$98.5 million**, down from **$150.0 million in 2020**, with a significant portion of spending in both years related to six new fuel-efficient refrigerated container ships, the last two of which were received in 2021[296](index=296&type=chunk)[302](index=302&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=50&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company is primarily exposed to market risks from fluctuations in foreign currency exchange rates and interest rates, with approximately **34% of 2021 net sales** in foreign currencies, and uses derivative financial instruments to hedge a portion of these risks - The company is exposed to significant exchange rate risk, with approximately **34% of net sales in 2021** denominated in foreign currencies[357](index=357&type=chunk) - A hypothetical **10% strengthening of the U.S. dollar** in 2021 would have resulted in an estimated decrease in net sales of **$145.0 million**[359](index=359&type=chunk) - The company is exposed to interest rate risk on its variable rate debt, which totaled **$519.1 million** at the end of 2021, where a **10% increase in interest rates** would have negatively impacted 2021 results by approximately **$0.7 million**[361](index=361&type=chunk) - To mitigate risks, the company uses derivative financial instruments, including foreign exchange forward contracts and interest rate swaps, with the fair value of foreign currency hedges being a net liability of **$13.7 million** and interest rate swaps a net liability of **$29.4 million** as of December 31, 2021[358](index=358&type=chunk)[362](index=362&type=chunk) [Financial Statements and Supplementary Data](index=54&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section contains the company's audited consolidated financial statements for the fiscal year ended December 31, 2021, and the unqualified reports from Ernst & Young LLP on both the financial statements and the effectiveness of internal control over financial reporting - The independent auditor, Ernst & Young LLP, issued an **unqualified opinion** on the consolidated financial statements, stating they present fairly, in all material respects, the financial position and results of operations in conformity with U.S. GAAP[389](index=389&type=chunk) - The auditor also issued an **unqualified opinion** on the effectiveness of the company's internal control over financial reporting as of December 31, 2021, based on the COSO framework[381](index=381&type=chunk)[390](index=390&type=chunk) Key Balance Sheet Data (As of Year-End) | Account | Dec 31, 2021 ($M) | Jan 1, 2021 ($M) | | :--- | :--- | :--- | | Total Current Assets | 1,096.4 | 1,012.3 | | Total Assets | 3,398.1 | 3,263.3 | | Total Current Liabilities | 629.2 | 554.8 | | Long-term debt and finance leases | 527.7 | 541.8 | | Total Liabilities | 1,524.6 | 1,463.4 | | Total Shareholders' Equity | 1,824.0 | 1,749.7 | Key Income Statement Data (Fiscal Year) | Account | 2021 ($M) | 2020 ($M) | | :--- | :--- | :--- | | Net sales | 4,252.0 | 4,202.3 | | Gross profit | 303.8 | 250.9 | | Operating income | 111.0 | 76.5 | | Net income | 79.9 | 46.3 | | Diluted EPS | $1.68 | $1.03 | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=111&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) There were no changes in or disagreements with accountants on accounting and financial disclosure - None[742](index=742&type=chunk) [Controls and Procedures](index=111&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of December 31, 2021, a conclusion affirmed by Ernst & Young LLP's unqualified opinion on internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of December 31, 2021[743](index=743&type=chunk) - Management assessed internal control over financial reporting based on the COSO framework and determined it was effective as of December 31, 2021[745](index=745&type=chunk) - The effectiveness of internal control over financial reporting was audited by Ernst & Young LLP, which issued an unqualified opinion[747](index=747&type=chunk) [Other Information](index=111&type=section&id=Item%209B.%20Other%20Information) There is no other information to report - None[748](index=748&type=chunk) [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=111&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This item is not applicable - Not applicable[749](index=749&type=chunk) Part III [Directors, Executive Officers, Corporate Governance, Compensation, and Principal Accountant Fees](index=112&type=section&id=Items%2010%2C%2011%2C%2012%2C%2013%2C%20and%2014) Information required for Items 10 through 14, covering directors, executive officers, corporate governance, executive compensation, security ownership, related transactions, director independence, and principal accountant fees and services, is incorporated by reference from the company's definitive Proxy Statement for the 2022 Annual General Meeting of Shareholders - Information regarding Directors, Executive Officers, and Corporate Governance will be included in the 2022 Annual General Meeting Proxy Statement and is incorporated by reference[752](index=752&type=chunk) - Details on Executive Compensation are incorporated by reference from the 2022 Proxy Statement[754](index=754&type=chunk) - Security ownership information for beneficial owners and management is incorporated by reference from the 2022 Proxy Statement[755](index=755&type=chunk) - Information on certain relationships, related transactions, and director independence is incorporated by reference from the 2022 Proxy Statement[756](index=756&type=chunk) - Principal accountant fees and services are incorporated by reference from the 2022 Proxy Statement[757](index=757&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=113&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists the financial statements, supplemental schedules, and exhibits filed as part of the Form 10-K report, with consolidated financial statements and Schedule II included in Item 8, and a comprehensive list of exhibits provided, many incorporated by reference - This section contains the index of financial statements, schedules, and exhibits filed with the annual report[762](index=762&type=chunk) [Form 10-K Summary](index=117&type=section&id=Item%2016.%20Form%2010-K%20Summary) This item is not applicable - Not applicable[785](index=785&type=chunk)

Call Start: 10:20 Call End: 10:25 January 1, 0000 ET Q4 2021 Earnings Conference Call February 23, 2022, 10:00 AM ET Company Participants Mohammad Abu-Ghazaleh – Chairman and Chief Executive Officer Eduardo Bezerra – Senior Vice President and Chief Financial Officer Christine Cannella – Vice President, Investor Relations Conference Call Participants Operator Good day everyone and welcome to the Fresh Del Monte Produce Fourth Quarter and Full Fiscal Year 2021 Conference Call. Today's conference call is bei ...

Fresh Del Monte Produce Inc. (NYSE:FDP) Q3 2021 Earnings Conference Call November 3, 2021 10:00 AM ET Company Participants Ana Miranda - Investor Relations Mohammad Abu-Ghazaleh - Chairman and Chief Executive Officer Eduardo Bezerra - Senior Vice President and Chief Financial Officer Conference Call Participants Jonathan Feeney - Consumer Edge Operator Good day and welcome to Fresh Del Monte Produce Third Quarter 2021 Earnings Conference Call. Today’s conference is being broadcast live over the internet and ...

——————————— UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ——————————— FORM 10-Q ——————————— (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 01, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 333-07708 (Commission file number) ——————————— FRESH DEL MONTE PRODUCE INC. (Exact Name of Registrant as Specified in ...

INNOVATING FOR A BETTER WORLD TOMORROW Fresh Del Monte Produce Inc. Investor Relations August 4, 2021 Forward-Looking Statements This presentation contains certain forward-looking statements regarding the intent, beliefs or current expectations of the Company or its officers with respect to the Company's plans and future performance. These forward-looking statements are based on information currently available to the Company and the Company assumes no obligation to update these statements. It is important t ...

Financial Data and Key Metrics Changes - Gross profit for Q2 2021 increased by 40% year-over-year, with gross margin rising from 7.2% to 9.6% [6] - Net sales increased by $49 million or 5% to $1.142 billion, driven primarily by fresh and value-added business segments [12] - Adjusted net income rose by $21 million or 82% to $47 million, with diluted earnings per share increasing to $0.99 from $0.38 [14] - Adjusted EBITDA increased by 32%, with adjusted EBITDA margin rising from 5.8% to 7.3% [15] Business Segment Data and Key Metrics Changes - Fresh and value-added products segment saw net sales increase by $38 million or 6%, driven by higher demand for pineapple, fresh-cut fruit, and vegetables [16] - Adjusted gross profit in the fresh and value-added products segment increased by 28% to $59 million, supported by higher sales volumes and prices [18] - Banana segment net sales decreased by $3 million to $427 million, but adjusted gross profit increased by 16% or $7 million due to higher per unit sales prices [20] Market Data and Key Metrics Changes - The foreign currency impact at the gross profit level was favorable by $11 million, compared to an unfavorable effect of $1 million in the prior year [22] - Cash flow from operating activities increased to $140 million from $111 million in the prior year, attributed to higher net income [24] Company Strategy and Development Direction - The company is focusing on transforming into a value-added global food company, with strategic initiatives in Europe leading to increased efficiencies and cost savings [7][9] - A licensing agreement with a UK retailer for frozen fruit and chili juices presents new revenue opportunities in Europe, with potential expansion to the Middle East and Africa [9] - The company plans to publish its annual corporate responsibility and sustainability report, highlighting its guiding principles and progress [11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged facing unprecedented disruptions in global supply chains and labor shortages, leading to significant cost increases [7] - Inflationary pressures are expected to persist in the near term, prompting a comprehensive review of pricing strategies [8] - The second half of the year is historically tougher for the industry, with management cautious about ongoing inflation and cost pressures [10] Other Important Information - The Board of Directors approved an increase in the quarterly cash dividend to $0.15 per share, reflecting a strong cash position [10][28] - Total debt decreased from $542 million at the end of 2020 to $474 million at the end of Q2 2021, with total debt standing below two times adjusted EBITDA [27] Q&A Session Summary Question: Outlook on banana supply for the second half of the year - Management indicated that supply is constant and available, with no shortage in the market, but pricing pressures exist due to retailer leverage [31][32] Question: Impact of supply chain pressures on pricing across the industry - Management noted that cost pressures affect all segments, and they have implemented price increases to offset some of these costs [33][34] Question: Changes in the retail environment post-COVID - Management stated that the retail environment remains unchanged, despite efforts to maintain consistent supply, and highlighted past challenges with excess inventory [38][39]

——————————— UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ——————————— FORM 10-Q ——————————— (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 02, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 333-07708 (Commission file number) ——————————— FRESH DEL MONTE PRODUCE INC. (Exact Name of Registrant as Specified in It ...

Fresh Del Monte Produce, Inc. (NYSE:FDP) Q1 2021 Earnings Conference Call May 5, 2021 10:00 AM ET Company Participants Christine Cannella - VP & IR Officer Mohammad Abu-Ghazaleh - Chairman & CEO Eduardo Bezerra - CFO, CAO & SVP Conference Call Participants Jonathan Feeney - Consumer Edge Research Operator Good morning, everyone, and welcome to the Fresh Del Monte Produce First Quarter 2021 Earnings Conference Call. Today's conference call is being broadcast live over the Internet and is also being recorded ...