Vital Farms (VITL) investor relations material

Industry overview and market conditions

• U.S. egg industry is recovering from avian flu, with flock size still below normal at 290–300 million birds.

• Egg prices remain elevated but are lower than earlier in the year; supply is improving.

• No recent avian flu impact on their flocks, while industry continues to rebuild.

• Demand for protein, especially eggs, remains strong among consumers.

Supply chain and production expansion

• Over 500 family farms now supply eggs, up from 300 at the end of 2023; recruiting continues at 30–35 farms per quarter.

• All eggs are sourced directly from contracted farms, not the open market.

• Third production line in Springfield, MO, to increase capacity to $1.2B, coming online in Q4 2024.

• New Seymour, IN facility to open in early 2027, raising total egg revenue capacity to $2.1B.

Distribution and growth strategy

• Present in 23,500 of 32,000 U.S. specialty egg stores, with further distribution opportunities.

• Focus on increasing SKUs and shelf velocity in existing stores, especially in food and mass channels.

• Incremental SKUs continue to drive higher velocity and household penetration.

• Consumer buy rate increases as more households try and repeatedly purchase products.