Investor Presentation

October 2014

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Disclaimer

This presentation has been issued for information purposes by Crawshaw plc (the “Company”). It is being distributed by WH Ireland Limited (“WH Ireland”), in its capacity as broker to the Company. WH Ireland is regulated by the Financial Condust Authority.

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What We Do

• Meat based retailer with 21 retail stores in Yorkshire, Lincolnshire, Nottinghamshire & Derby • Vertical integration. In house processing, warehousing and logistics • Varied product offer, Competitive pricing, Loyal customer base.

• 65% Raw Meat; 35% hot food to go 3

Retail stores

8 Legacy Stores - 41% of total sales. Individual shop performance is extremely consistent with a very loyal customer base.

3 Markets - 12% of total sales. Markets in city centres continue to trade well, whilst footfall to smaller town centre based markets has been on the decline in recent years. 9 Newer stores -47% of total sales. All new stores are now running at profitable levels.

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Cold storage Frozen storage Cutting De-boning Packing & labelling Wholesale & catering Sausage & burger production Own fleet of refrigerated trucks Delivery to own stores & catering customers

In House Processing & Distribution

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Retail Proposition

• Product Variety, Quality & Value • Pre packaged meats sold in multi deck displays. Up • to 40% cheaper than the supermarkets.

Hot cooked preparation/hot & ambient serve over counters – lunchtime takeaway & meals to take • home Key lines plus products on offer constantly changing • Quick distribution/turnover on promoted goods • Mix & Match Multi Buy Offers • Satisfied customers returning each week • Special offers communicated outside front of store • Market trader experience on the high street • Tried and tested customer recruitment method 6

Varied Product Offer

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Customer Feedback

• 90%+ of customers highly rate our quality and value for money – which is an exceptional performance underlined by the loyalty of our customer base.*

Aug/Sept 2013 Aug/Sept 2014 % Change

Weekly Average Customer Numbers Average Spend 63.2k

£5.33

64.2k

£5.79

+2% +8% • Average spend on raw meat is now c. £10 and on hot food c. £3.70

* Surveys done of c.300 customers in 2009, 2011 & 2013 8

Full Year Trading Performance

Actual

Turnover EBITDA Net Cash/(Debt) Dividend

2011/12

£18.9m

£0.6m

£(0.2)m -

2012/13

£18.8m

£0.7m

£0.0m

0.2p

2013/14

£21.0m

£1.4m

£1.0m

0.52p

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Half Year Trading Performance

Actual Half Year

Turnover EBITDA Net Cash/(Debt) Dividend

2012

£9.3m

£0.6m

£(0.2)m -

2013

£9.8m

£0.5m

£0.34m

0.09p

* net cash excluding placing monies is £1.4m

2014

£11.8m

£0.9m

£9.75m* 0.1p

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Key points – Interim Results to July 2014

•Like for Like (LFL) sales up 12% in the 6 months to the end of July (2013: +5%). •Overall sales have increased to £11.8m (2013: £9.8m).

•Gross profit increased 21% to £5.2m (2013: £4.3m).

•Gross margin up at 44.1% (2013: 43.9%).

•EBITDA significantly improved at £0.9m (2013: £0.5m).

•PBT more than doubled at £0.7m (2013: £0.3m) •Earnings per share up to 0.874p (2013: 0.473p) 11

LFL Sales Performance

Like for Like Sales Analysis :

2014/15 H1

Stores Markets Total

Q1

17% 22% 18%

Q2

7% 6% 7%

Total

12% 14% 12%

First 8 weeks H2

Stores Markets Total

2014/15

5% 3% 5%

2013/14

11% 2% 10%

Growth Strategy

• First New Store for 2014 o o Opened on 21 st March Started well with potential to improve further 13

Opportunities for 2014 and beyond (1)

Growing the business:

Relocate & Centralise Factory Operations & Head Office o o o Create a factory Shop Increase capacity to accommodate expansion Improve efficiency Start Accelerated Store Opening Programme Throughout 2015 o o New CEO Invest in human resources and infrastructure to deliver growth o Target 200 shops in 8 years 14

Opportunities for 2014 and beyond (2)

Growing the business:

Profitable roll out plan based on new store model o o o £250k Capex Sales £20k per week £100k EBITDA per annum New locations being identified in different regions o Initially reviewing adjacent regions to Yorkshire o New factory operations can support up to 60 stores 15

Continuous Improvements to Core Business

Continue to drive retail performance going forward via:

Quality of the Hot Food Offer to improve footfall o Training programme for cooks to improve consistency & quality of ready to eat food o Area Supervisors employed to audit standards o New sandwich offer introduced and selling well Improving the training and succession planning for shop managers o The best managers can improve results dramatically o o New Assistant managers have been identified and trained Apprentices are being employed & trained.

Using tactical promotions to improve sales o Tactical bonuses to reward profitable sales growth o New Pack sizes introduced e.g. 3 for £20 has increased average spend 16

Appendix – Listing & Board details

AIM Listed PLC April 2008

• Large Institutional shareholders Arrowgrass Isis Unicorn Hargreave Hale Schroders 13.2% 9.1% 9.2% 7.8% 4.5% • Directors holding 44% 21%

Board Members

Richard Rose (Chairman) –Chairman at Booker, Anpario and AO World Plc Kevin Boyd (Managing Dir) –started as a butcher/manager at Crawshaws Lynda Sherratt (Finance Dir) –previously Littlewoods & Ford Colin Crawshaw (Buying Dir) –pre listing owner/manager of Crawshaws Mark Naughton-Rumbo (Non Exec) –previously CEO Whittards.

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