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Investor PresentationJanuary 2026 OTCQX: AMNF
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2 Forward-Looking Statements OTCQX: AMNF | 1.Projected financial performance of the company; 2.The expected development of the company’s business and projects;3.Execution of the company’s vision and growth strategy, including possible future M&A activity and global growth; 4.Completion of the company’s projects that are currently underway, in development or otherwise under consideration; 5.Renewal of the company’s current customer, supplier and other material agreements; and 6.Future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. Certain information set forth in this presentation may contain “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the Although forward-looking statements contained in this presentation are based upon what management of the Companybelieves are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
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3 Armanino Overview OTCQX: AMNF | OTCQX:AMNFShare Price1 $11.91Market Cap1 $363.3MTTM Revenues2 $75.1MTTM Gross Margin2 47.6%TTM Net Income2 $17.9MTTM EPS (Basic & Diluted)$0.54Quarterly Dividend2 $0.05Shares Outstanding31.1M 2) At September 30, 20251) As of January 8 2026 PROFITABLE MARKET LEADER WITH MEANINGFUL GROWTH POTENTIAL Armanino is a leading producer and marketer of premium frozen Italian sauces, mainly serving foodservice and industrial customers across North America and select international markets.Foodservice Market Leader Armanino is the leading U.S. foodservice pesto supplier, leveraging a decades-long leadership position built on quality and consistency. National Distribution FootprintStrong distribution across the foodservice channel, paired with a meaningful quality advantage, makes Armanino a chef-preferred brand. Multiple Growth LeversGrowth is fueled by growing distribution of our expanding sauce portfolio, new customer acquisition, and expansion across Asia, North America and Europe. Fortress Balance SheetDebt-free balance sheet, strong cash generation, and disciplined capital use support ongoing reinvestment, buybacks, and dividends. Experienced Management Team Led by world-class foodservice team focused on operational discipline, product excellence, and building deeper customer relationships.
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4 The Armanino Family StoryA Legacy of Family and Flavor OTCQX: AMNF | Armanino Has Become The Nation’s Leading Pesto Supplier, Turning A Unique Italian Sauce Into One Of America’s Favorite Flavors. The Armanino story begins in Italy’s Liguria region, the birthplace of pesto. In the 1880’s Mary Picetti and Guglielmo Armanino arrived in San Francisco, California. From Liguria, Guglielmo brought his skill as a row-cropper, and Mary brought her basil pesto recipe. By the end of the 1960’s, the family business had transformed from a local farm to a national herb supplier. In the 1970’s Armanino was the first company to sell classic Genovese pesto on the retail market. The company continued to grow, diversifying the product line to include globally-inspired sauces and more.
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5 Market Opportunity OTCQX: AMNF | $165.8$237.5 20232030 $48.1$67.5 20232032 3.8% CAGR 5.3% CAGR Global Culinary Sauces2 Global Sauces, Dressings & Condiments Market1 RetailConvenience: Consumers are increasingly choosing prepared and ready-to-heat meals as time and budget pressures grow Restaurant Prices: High restaurant costs are driving consumers to the grocery aisle for value, convenience, and at-home meal solutions 1) Grandview Research 2) Fortune Business Insights FOODSERVICE Menu innovation: Sauces unlock new flavor platforms and limited time offerings without requiring major menu changes Ethnic & fusion appeal: Rising interest in global and fusion cuisines is driving demand for authentic, bold saucesConsistency & labor efficiency: Ready-to-use sauces deliver consistent flavor and reduce back-of-house prep, training and laborPremiumization: Chef-crafted, high-quality sauces elevate perceived value and support menu upsell opportunitiesCustomization: Dipping sauces and spice-level options enhance the guest experience and personalizationSauce stability & versatility: Multi-use sauces simplify inventory, reduce waste, and increase operational flexibility across daypartsPost-pandemic dining trends: Recovery of dine-in and QSR growth boosts sauce usage across menu categories
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6OTCQX: AMNF | Globally Inspired Portfolio of Premium SaucesStrong Focus on Core Strength in FoodserviceSecondary Opportunity: RetailMade from the best with love & zestPESTOS & SAUCESMEATBALLS PASTASCHEESES Primary Focus: FoodserviceQuality and flavor to complement every menu Basil Pestos Global Pestos & Sauces Pastas
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7OTCQX: AMNF | Distribution & Sales ChannelsA Chef Favorite, Available in Food Service Suppliers NationallyRobust Breadth & Depth in Foodservice Growing Retail Presence Fine-dining restaurants, pizzerias, QSR and casual chains use Armanino for pasta sauces, flavor accents, finishing sauces, and bases for signature spreads. Armanino’s globally inspired product line can be found in grocery stores across the US.
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8 Accelerating Growth by Increasing ReachKey Growth Levers OTCQX: AMNF | Target Tier-One QSR’s That Don’t Offer Pesto on the Menu Expand in Asia, North America and European markets WHITE SPACEINTERNATIONALPESTO & SAUCES •Expand Secondary Sauces to Complement Core Offerings•Explore Pesto Adjacencies for Portfolio Expansion•Extend New Customer Acquisitions
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9 Strategic Procurement & Inventory ManagementOptimizing Operating Leverage to Drive Profitable Growth OTCQX: AMNF | Strategic contracts enable price consistency, ingredient access, and protect margins Diversified supplier base ensures continuity and mitigatessingle-source risk Larger order volume secures better pricing and creates sustainable cost advantages Investment in systems and automation enhance accuracy, efficiencyand scale Locked in SupplyAnd PricingSupplier RedundancyScale & Bulk PurchasingTechnology Enablement
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Driving Efficiency & Margin GrowthRobust Gross Margin Meaningfully Outperforms CPG Peers Source: Financial Reports, Trade Spend Reduction = Promotions, Discounts & Slotting10OTCQX: AMNF | Gross Profit Acceleration 35%44% 20192024 +9pts Competitive Gross Margins*Trade Spend Reduction 20% 12% 20192024 -8pts Revenue Growth Management (Margin) Trade Optimization (Efficiency) Focused strategy to maximize return. Leverage technology and systemsRollout Price/Pack Architecture; Mix Shift to Foodservice AMNF: 47.6%Beyond Meat10.3%Mama’s Creations24.8%Kraft Heinz34.7%Hain Celestial21.4%McCormick37.4%Marzetti Company23.9%J.M. Smucker Company35.5%Conagra Brands25.9%*Latest GM% from reported earnings and/or earnings estimates
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Investing in Growth, Efficiency & ScaleScaling Capacity to Meet our Growth NeedsAutomation and Equipment Upgrades 11OTCQX: AMNF | Robotic Arm PickerRobotic Arm Palletizer Upgrading Our Core FacilityModernizing our existing plant with automation and process improvements to increase capacity, throughput and consistencyDriving EfficiencyEnhancing line performance, packaging, and inventory controls to reduce bottlenecks and strengthen marginsLeveraging Co-ManufacturersPartnering with co-manufacturers to expand into frozen pasta and meatballs, accelerate speed-to-market, and serve more customersFlexible, Scalable ModelA balanced in-house and 3rd party approach gives us capacity, flexibility, and capital efficiency as we scale
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$48.8$57.9$63.6$69.4$75.1 FY 2021FY 2022FY 2023FY 2024TTM Q3 FY25 $5.7$6.6$8.8$14.6$17.9 FY 2021FY 2022FY 2023FY 2024TTM Q3FY25 Financial Highlights Source: Financial Reports 12OTCQX: AMNF | Revenue & Net Income $ in Millions Revenue$75.1$69.4$63.6Gross Profit$35.7$30.5$21.9Gross Profit Margin47.6%44.0%34.5%Operating Income$22.8$18.2$11.1Operating Margin30.1%26.4%17.6%Net Income $17.9$14.6$8.8($ in Millions)Sept. 30, 2025Dec. 31, 2024Dec. 31, 2023Cash & Cash Equivalents$24.6$28.2$22.2 ($ in Millions)Fiscal 2023Fiscal 2024TTM Q3 2025 Debt free, strong cash flow and a disciplined capital allocation strategy Reinvesting gains into automation, process improvements, and talent to support scale while returning capital to shareholders$12M authorized, with $7.5M executed $0.05 per share quarterly cash dividendFortress Balance Sheet Building for Scale Buyback Program Dividend Policy
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Building a World Class Management Team 13OTCQX: AMNF | JAIMI ST. JOHNVP of National Accounts DEANNA JURGENSPresident & Chief Executive Officer BRYAN JONESChief Growth Officer SANDRA DE LARADirector of Quality Assurance & Food Safety SARA HARRISChief Human Resources Officer(Interim) ANDREW LEONARDChief Financial Officer
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Investment Summary 14OTCQX: AMNF | Foodservice Market Leader: Armanino is the leading U.S. foodservice pesto supplier, with a leadership position built over decades of quality, consistency and trust.National Distribution Footprint: Deep distribution across the foodservice channel and a meaningful quality advantage make Armanino a chef-preferred brand. Multiple Growth Levers: Growth driven by expanded distribution, cross-selling of secondary sauces, new customer acquisition, and international expansion. Fortress Balance Sheet: Debt-free balance sheet, strong cash generation, and disciplined capital allocation supporting reinvestment, buybacks, and dividends.Experienced Management Team: Led by a world-class leadership team with deep foodservice expertise, operational discipline, and strong customer relationships.
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ir.armaninofoods.com Investor Relations ContactLucas A. ZimmermanManaging DirectorMZ Group - MZ North America(262) 357-2918AMNF@mzgroup.us OTCQX: AMNF