Innovation in grass-fed butter. The Improper Butter story.

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1 Innovation in grass-fed butter. The Improper Butter story.

2 Introduction & background of the founders Developing a product in a home kitchen Scaling up manufacturing for retail National supply & exporting. Irish dairy overview. The future for Improper Butter

3 Background. In the summer of 2013, fresh out of university, Elaine Lavery and Hannah O Reilly turned their shared love of grass- fed buaer into start- up business, Improper BuAer, that now supplies product to retail mulfples across Ireland and the UK. With Lavery s experience as a chalet chef and O Reilly s love of luxury consumer goods, the idea was to create a new way of branding, packaging and promofng grass- fed buaer to millennials. Irish buaer is a world renowned commodity and exported to more than 140 countries. Although numerous grocery cateories have seen signifcant advancements there has been liale to no innovafon or value added to block buaer in seventy years.

4 Developing a product in a home kitchen Farmer s Markets in the summer of 2013 were Improper Butter s first route to market. Range was decided upon by bringing numerous flavours of product and engaging with customers first hand. Listings grew to independent gourmet food stores and shortly after regional and national listings in Ireland s supermarkets. Export commenced Q UK & UAE

5 Scaling up manufacturing for retail Production was outsourced after 18 months to a BRC accredited facility in the heart of Ireland. Manufacturing partner selected for capabilities, capacity, continued innovation and a strong New Product Development team.

6 Range extension. Through two year experience of the specialty buaer market, we idenffied a gap in the block buaer market as whole. 800m Category valuafon (UK & ROI) 15 Millennial market share % 10m PotenFal customers of Improper BuAer Across the yellow fats category growth is being experienced across only two segments, block buaer and plant- based oils (i.e. olive, rapeseed, coconut). CreaFve brands such as The Groovy Food Co (Organic Extra Virgin Coconut Oil, Waitrose) and Jamie Oliver (Extra Virgin Olive Oil, Waitrose) are emerging and growing market share in plant- based oils. Despite the rising innovafon and posifve media aaenfon in the natural fats category as a whole, the block buaer market has seen liale to no evolufon.

7 Irish Dairy overview. AboliFon of EU wide milk quota in April 2015 allows for huge growth. A total of 35 million has been invested by Government and industry in two dairy research and innovafon centers in Limerick and Cork. The projects aim to exploit growth opportunifes presented by the abolifon of milk quotas and to posifon Ireland as a world leader in dairy innovafon. (Irish Times)

8 Ireland s Dairy Sector.

9 Introduction & background of the founders Developing a product in a home kitchen Scaling up manufacturing for retail National supply & exporting. Irish dairy overview. The future for Improper Butter

10 Newest innovation. Launching May Prominent grass fed message Promoter story. Lower in salt Hannah & Elaine Metric weight 250g Grass fed Irish butter with a hint of Organic Irish Sea Salt. Lower in salt and improperly delicious. LOV Butter just got better! IRI E H FOOSD Fat is one of your three In the summer of 2013, fresh out of university, best macronutrients. Fact. pals Elaine and Hannah brought their beautiful A moderate amount of fat is needed butters to farmers' markets across Dublin town. for healthy brain function. It's even Their shared love of grass fed butter started with more important for kids. Grass fed El's knowledge as a chalet chef, Hannah's interest in butter is a great source of vitamins seasonal ingredients and all the times they spent and essential fatty acids known to cooking in the kitchen together. By carefully aid in brain development. sourcing a finely milled organic Irish sea salt we created a lower salt, grass fed butter with a clean, delicately balanced flavour. Whether you're cooking, baking or simply spreading on great Here at Improper Butter we're all about eating clean, bread Improper Butter will make all natural, whole foods. For those keeping an eye on your meals improperly delicious. calories, our butter contains only 70 kcals per generous 10g portion. For those following a gluten-free diet, Improper Butter is just like you and naturally gluten free and it's cool for veggies too. Happy days. Churned and hand wrapped in the heart of Ireland for Improper Butter, 20 Camden Row, Dublin 8, Ireland. Provenance message Nutritional Information Ingredients Irish Creamery Butter (98.7%) (Milk), Organic Irish Sea Salt (1.3%) Allergens in bold. Keep refrigerated (0 5 C) Use by: Please see base Heat thoroughly until melted for the most delicious flavour! Typical values per 100g Energy 2428kj/590kcal Fat 63g (of which are saturates) 39.2g Carbohydrates 3.2g (of which are sugars) 0.7g Protein 2.0g Salt 1.2g Grass-fed Irish Butter with finely milled Organic Sea Salt Butter just got better! LOWER SALT. BETTER TASTE. Lower salt message Calls to engage March 2016

11 Our ambition. To re-energise and modernise the block butter grocery category just as these brands re-energise theirs. x x x

12 improperbutter.com