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P JDE Peet's PRESS RELEASE Amsterdam , 4 August 2021 Key items¹ • • JDE Peet's reports half - year results 2021 Good progress and broad - based performance , delivered in a quality way Total organic sales grew 4.2 % , supported by In - Home momentum ( + 4.9 % ) and fuelled by Single Serve and Beans growing double - digit . E - commerce grew by 30 % In - Home Away - from - Home returned to profitability , despite largely stable sales base on average for H1 ( + 0.7 % ) although with visible positive reopening effects in Q2 Organic adjusted EBIT grew 0.8 % to EUR 636 million , with gross profit margin expansion • Free cash flow of EUR 553 million and net debt reduced to EUR 4,660 million • Leverage reduced to 2.98x , from 3.23x at the end of FY 20 • Underlying EPS grew 12.9 % , mainly supported by operational improvements • Positive market share performance across technologies and continued progress on Sustainability • Confident to reach FY 21 outlook A message from Fabien Simon , CEO of JDE Peet's " I would like to thank all our teams around the world for their perseverance while successfully navigating our company through all the ongoing challenges and complexity and for delivering this strong set of results . We are pleased with our first - half 2021 results , across all key metrics , including top - line , profitability , cash generation and in - market performance . Guided by our refreshed strategy , we delivered 4.2 % organic sales growth , in a quality way , with a gross profit margin expansion of 26 basis points that enabled JDE Peet's to reinvest behind its powerful portfolio of brands and future growth opportunities . In the first half of the year , we also continued to evolve our business portfolio . We announced partnerships with J.M. Smucker in the US and with Pret A Manger in the UK , the acquisition of Campos in Australia and the divestment of two small businesses in the Netherlands and France . We also significantly optimised our financial position and capital structure , reducing our leverage to below 3x , and our average cost of debt to around 1.5 % , from our successful refinancing and inaugural bond issue . Looking at our Sustainability agenda , I am very pleased that in June , our European manufacturing footprint reached Zero Landfill status . Based on the progress made in the first half of 2021 and our current expectations for the remainder of the year , we remain confident to reach our outlook for the year , being intentional on managing inflation and navigating the enduring uncertainty of the pandemic . " This press release contains certain non - IFRS financial measures and ratios , which are not recognised measures of financial performance or liquidity under IFRS . For a reconciliation of these non - IFRS financial measures to the most directly comparable IFRS financial measures , see page 6 of this press release . 1 LOR Peet's JACOBS Senseo TASSIMO Douwe EGBERTS COFFEE 1