UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 27, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number: 001-39411 Vital Farms, Inc. (Exact name of registrant as specified in its charter) | Delaware | | | 27-049 ...

Financial Data and Key Metrics Changes - For Q3 2020, net revenue increased by 57% to $53.4 million compared to Q3 2019 [6][17] - Gross profit margin improved over 300 basis points year-over-year, with gross profit reaching $18.4 million, or 34% of net revenue [7][19] - Adjusted EBITDA rose by 101% to $3.7 million compared to Q3 2019 [7][22] - Net income was $1.7 million, or $0.04 per diluted share, compared to $0.8 million, or $0.02 per diluted share in Q3 2019 [20] Business Line Data and Key Metrics Changes - The growth in net revenue was primarily driven by increased sales of eggs and butter, along with a high turnover rate of sales to retail customers [18] - The company launched a new product line, Egg Bites, which has ramped up distribution to over 850 stores [13] Market Data and Key Metrics Changes - Vital Farms captured an 80% dollar share of the U.S. pasture-raised egg market, making it the number one brand in this category [7] - Household penetration increased to 3.6% as of September 2020, up from 2.3% in December 2019 [10] Company Strategy and Development Direction - The growth strategy focuses on expanding household penetration, growing within the retail channel, innovating product offerings, and expanding foodservice [8] - The company aims to leverage increased demand for natural food and transparency to drive growth [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in exceeding total net revenue of $210 million for the full year 2020, representing a growth rate of over 49% compared to 2019 [17] - The company is committed to supporting community stakeholders and has initiated several initiatives during the COVID-19 pandemic [15] Other Important Information - The company had a cash balance of $112.6 million and total debt outstanding of $7.6 million as of September 27, 2020 [23] - Capital expenditures were $6.7 million for the 39-week period ended September 27, 2020, compared to $3 million for the prior year period [24] Q&A Session Summary Question: Growth outlook for Q4 and assumptions regarding the virus - Management indicated that the outlook is confident but acknowledges a potential deceleration compared to year-to-date growth [29][31] Question: Visibility on further distribution gains and consumer reception - Management noted that it is early to assess trends in new retail doors but has a successful playbook for launching in new retailers [33] Question: Retaining new consumers and marketing efforts - Management highlighted a strong repeat rate among new consumers and emphasized ongoing marketing efforts to foster loyalty [39] Question: Incremental margin and cost structure - Management explained that the improved margins are due to a combination of gross margin expansion and leverage over fixed operating costs [40][41] Question: Update on new CFO - Management confirmed that Bo Meissner will transition to CFO at the beginning of 2021, allowing Jason Dale to focus on COO responsibilities [56]

EST. 2007 Vital Farms, Inc. (NASDAQ: VITL) November 10, 2020 Corporate Presentation 1 REPORTING DISCLAIMER This presentation contains, in addition to historical information, certain forward-looking statements, as defined in Private Securities Litigation Reform Act of 1995, that are based on our current assumptions, expectations and projections about future performance and events and relate to, among other matters, our future financial performance, our business strategy, industry and market trends, future ex ...

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 September 27, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number: 001-39411 Vital Farms, Inc. (Exact name of registrant as specified in its charter) Delaware 27-04 ...

Financial Data and Key Metrics Changes - Net revenue increased by 84% to $59.3 million compared to the second quarter of the previous year [8][24] - Gross profit margin improved by over 400 basis points year-over-year, with gross profit reaching $22.7 million or 38% of net revenue [8][25] - Adjusted EBITDA rose by 111% to $9.3 million from $4.4 million in the second quarter of 2019 [8][28] - Net income was $5.9 million or $0.16 per diluted share, compared to $2.8 million or $0.08 per diluted share in the same quarter last year [26] Business Line Data and Key Metrics Changes - The company reported a net sales growth of 64% and gross profit growth of 71% in the first half of 2020 [12] - The increase in net revenue was primarily driven by higher sales volumes of eggs and butter, influenced by COVID-19 related stay-at-home trends [24] Market Data and Key Metrics Changes - Household penetration increased to 2.7%, up from 1.9% at the end of 2019, with a notable increase in repeat purchases among new customers [14] - The company added over 700 new store doors during the second quarter, primarily in the grocery sector [15] Company Strategy and Development Direction - The growth strategy consists of expanding household penetration, growing within the retail channel, expanding food service footprint, and extending product offerings through innovation [13] - The company aims to maintain its commitment to ethical food production and support family farms while capitalizing on the robust market for humanely raised animal products [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in exceeding total net revenue of $205 million for the full year of 2020, representing a growth rate of over 45% compared to 2019 [24] - The company acknowledged macroeconomic uncertainties but remains optimistic about growth opportunities due to increased demand for retail products [42] Other Important Information - The company completed its initial public offering on August 4, 2020, raising approximately $99.5 million in net proceeds [29] - Capital expenditures totaled $4.7 million for the second quarter, with plans to use IPO proceeds for general corporate purposes and expansion of processing facilities [31] Q&A Session Summary Question: On household penetration and retention - Management noted early signs of retaining new customers who tried the products during the COVID-19 pandemic, with some showing repeat purchases [38][40] Question: Outlook for promotional environment - Management plans to return to a more typical promotional cadence in the back half of the year but will be judicious with investments [46][48] Question: Comments on gross margin and capacity utilization - Management indicated that gross margin improvements were partly due to selling all available inventory during peak demand, with current capacity utilization at 50% to 60% [56][59] Question: Live supply chain and inventory management - Management confirmed that they are well within supply to meet guidance and are being thoughtful about adding new farms to maintain supply-demand balance [70] Question: Contracts with farmers and gross margin drivers - Management stated that they are not actively adding supply contracts at the moment but will transition existing farms to new contracts as they expire [78][81] Question: Medium size eggs strategy and shelf space gains - Management is focused on utilizing medium eggs in various products and is negotiating for more shelf space with retailers [91][92]

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 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number: 001-39411 Vital Farms, Inc. (Exact name of registrant as specified in its charter) For the quarterly period ended June 28, 2020 Delaware 27-0496985 ...