Reflections on 2019

Hey all,

2019 has been the most meaningful year since our founding. We've created a new and very incremental food category, surpassed 20 million JUST Eggs sold (21.9 million as of this writing), and gained distribution next to conventional eggs in 20 of the 23 largest retailers in the United States. Most importantly, we've taken a small step to building a stronger, healthier food system (take a look at the below impact metrics).

Some numbers:

• JUST Egg added ~2,000 stores per quarter to end 2019 in over 10,000 retail stores.
• At the top mass and grocery retailers, JUST Egg doubled velocity in the first three months on-shelf.
• At a top five retailer, JUST Egg captured a 40% share and saw velocities triple since launch.
• In the natural channel, JUST Egg captured a 44% share and helped the category reverse from -23% year-over-year decline to +61% growth.
• JUST Egg sales are typically 100% incremental to the category.

Because JUST Egg is made from plants, we've saved 791.4 million gallons of water, 3.2 million kg of CO2e, and 5.24 million square meters of land. 2019 is JUST Egg’s first full year on the market.

I want to thank all of you — our retail and foodservice partners, our forward-thinking investors and supporters. This hard-won year only happened because of your support. Max Roser, an economist who focuses on existential risks, recently said, "Three things are true at the same time. The world is much better, the world is awful, and the world can be much better."

You have my commitment that our team is going to keep working to make it better.

Have a meaningful 2020,

Josh