Focus on Shareholder Value Stock Price Performance, IPO – August 2005

CAGR = 26%

Acquired Morningstar

Acquired Dean Foods

Acquired

White Wave

Acquired Horizon Organic

Began WhiteWave

consolidation

TreeHouse Spin-off

TreeHouse Foods was Spun-off from Dean Foods on June 27, 2005. Chart includes the value of TreeHouse Foods stock for June through August 2005 to show total shareholder return since IPO

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