Page 11 - Granola Book Draft VS 21
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250
               Granola in EM                         Base       Projection CAGR 28%
                33%                        200


 Global Granola Sales RSV US$ 000' m                             NSV by 2020

 2015  2016 YOY%  Segment %                                      200
                                           150
 Total Global Granola  3,232  3,494  108%  100
                                                                  Million US$
 Core 4 Markets  1,153  1,213  105%  35
                                           100
 Developing markets  1,064  1,119  105%  32

 Total Emerging Markets  1,015  1,162  114%  33
                                            50




                                             0
                                                  2014       2015      2016      2017      2018      2019       2020



 in past 4 years)
                                                                             Current premium
                                                                              over RTEC 2016

           EM Granola GP                                                       28%
             35%


                                                    8

                                                    7    6.24            6.52            6.28            6.49
     2016 LE           2017                         6
                                                                              4.87              4.87            4.91
        6.28            6.49                        5         4.5

        4.11            3.99                        4
                                                    3
        2.16            2.49
                                                    2
        0.77            0.73                        1


        1.39            1.76                        0
                                                             2014            2015             2016            2017
                                                                   Granola NSV kg              RTEC NSV kg
   6   7   8   9   10   11   12   13   14   15   16