26 July 2022

Greencore Group plc

Statement on 2022 Annual General Meeting

Annual Report on Remuneration Voting Outcome

At the Greencore Group plc (the 'Company' or the 'Group') Annual General Meeting (the '2022 AGM') held on 27 January 2022, Resolution 3, to approve the Annual Report on Remuneration (the 'Report'), was approved, by c. 54% of shareholders.

In determining the Directors' remuneration outcomes, specifically in advance of granting awards under the Performance Share Plan in January 2021 and in the lead up to the 2022 AGM, the Remuneration Committee (the 'Committee') engaged extensively with major shareholders and proxy advisors.  Following the conclusion of the 2022 AGM, the Board provided its immediate response to the voting outcome and has since engaged further with major shareholders,  who have provided valuable insights, which the Remuneration Committee will keep under consideration.

The Board and the Committee recognise that a significant factor for those shareholders opposing the Report related to variable pay incentive outcomes.  The departure from our usual approach to remuneration last year reflected the exceptional circumstances facing the business at the time and the need to reinforce delivery of strategy and shareholder value in what was a very uncertain and constantly changing environment.  Both the Board and the Committee are dedicated to applying the principles of alignment and fairness; pay for performance; and transparency and simplicity to guide remuneration decisions and will continue to do so going forward.  The Committee will also continue to engage with major shareholders and proxy advisors in relation to remuneration matters.

For further information, please contact:

About Greencore

We are a leading manufacturer of convenience food in the UK and our purpose is to make every day taste better. We supply all of the major supermarkets in the UK. We also supply convenience and travel retail outlets, discounters, coffee shops, foodservice and other retailers. We have strong market positions in a range of categories including sandwiches, salads, sushi, chilled snacking, chilled ready meals, chilled soups and sauces, chilled quiche, ambient sauces and pickles, and frozen Yorkshire Puddings.

In FY21 we manufactured 645m sandwiches and other food to go products, 117m chilled prepared meals, and 256m bottles of cooking sauces, pickles and condiments. We carry out more than 10,500 direct to store deliveries each day. We have 21 world-class manufacturing units across 16 locations in the UK, with industry-leading technology and supply chain capabilities. We generated revenues of £1.3bn in FY21 and employ approximately 13,000 people. We are headquartered in Dublin, Ireland.

For further information go to greencore.com or follow Greencore on social media.