BMO Capital Markets

12th Annual Farm to Market Conference

May 17, 2017
Forward-Looking Statements
and Non-GAAP Financial Measures
Forward-looking statements This press release contains statements which may be forward looking within the meaning of applicable securities
laws. The statements include projections regarding future revenues, earnings and other results which are based upon the Companys current
expectations and assumptions, which are subject to a number of risks and uncertainties. Factors that could cause actual results to differ include
general economic conditions or an economic turndown; volatility in the price, quality or availability of inputs, including walnuts and other raw
materials, packaging, energy and labor; price competition and industry consolidation; changes in our top retail customer relationships; inability to
maintain profitability in the face of a consolidating retail environment; failure to successfully integrate acquisitions or execute divestitures; loss of
key personnel; failure to execute and accomplish our strategy; concerns with the safety and quality of certain food products or ingredients;
adulterated, misbranded or mislabeled products or product recalls; disruption of our supply chain; failure to maintain satisfactory labor relations;
risks related to our foreign operations, including foreign currency risks; inadequacies in, or security breaches of, our information technology systems;
improper use of social media; changes in consumer preferences and tastes or inability to innovate or market our products effectively; reliance on
distribution through a significant number of independent business owners; protection of our trademarks and other intellectual property rights;
impairment in the carrying value of goodwill or other intangible assets; new regulations or legislation; interest rate volatility, political and economic
conditions of the countries in which we conduct business, and the interests of a few individuals who control a significant portion of our outstanding
shares of common stock may conflict with those of other stockholders, which have been discussed in greater detail in our most recent Form 10-K and
other reports filed with the Securities and Exchange Commission.

Use and Definition of Non-GAAP Measures Snyders-Lances management uses non-GAAP financial measures to evaluate our operating
performance and to facilitate a comparison of the Companys operating performance on a consistent basis from period to period and to provide
measures that, when viewed in combination with its results prepared in accordance with GAAP, allow for a more complete understanding of factors
and trends affecting the Companys business than GAAP measures alone. The non-GAAP measures and related comparisons should be considered in
addition to, not as a substitute for, our GAAP disclosure, as well as other measures of financial performance reported in accordance with GAAP, and
may not be comparable to similarly titled measures used by other companies. Our management believes these non-GAAP measures are useful for
providing increased transparency and assisting investors in understanding our ongoing operating performance.

2
ALEXANDER PEASE
CHIEF FINANCIAL OFFICER
Company Overview
Investment Highlights

Snacking industry is a growth market

Snyders-Lance is uniquely positioned in the

snacking industry

Growth opportunities both organically and

through M&A

Compelling margin expansion opportunity

Experienced leadership team

5
 Snyders-Lance at-a-glance

Corporate Overview Net Revenue Growth(2)

(in $millions)
HQ Location: Charlotte, NC 2,200 2,250
2,109
Employees: ~6,000
DSD Routes: ~3,100 1,505
1,621 1,656

2017E Net Revenue: ~$2.2 billion(1) 1,305 1,354

2017E Adj. EBITDA: ~$303 million(1)

2011 2012 2013 2014 2015 2016 2017E

Brand Portfolio Manufacturing Footprint

Core
Brands

Allied
Brands

(1) Based on mid-point of fiscal 2017 outlook range.

(2) Historical financial results are adjusted to exclude discontinued operations and special items. Net revenue results are also adjusted to normalize for
the impact of our IBO conversion.
6
Our go-to-market strategy

% OF GROSS SALES

DIRECT TO WAREHOUSE DIRECT STORE DELIVERY (DSD)

CLUB CHANNEL DOLLAR CHANNEL

DIRECT DSD

3,100 IBO ROUTES 110 FORWARD

WAREHOUSES
G&D
NATURAL CHANNEL DRUG CHANNEL

DIRECT TO CONSUMER GROWTH AND DEVELOPING

E-COMMERCE INTERNATIONAL / EXPORT

7
We have full penetration across the store

8
 Our brands have established leadership in differentiated categories
Category Retail Sales Market Share Market Share Market Share
Growth (%) Growth (%) Change (Pts) (%) Rank

0.0% 5.1% 2.0 pts 41% #1

-2.7% -2.7% 0.0 pts 46% #1

0.3% 9.2% 1.9 pts 24% #2

3.3% 11.3% 2.1 pts 30% #1

3.4% 25.8% 2.5 pts 14% #2

0.3% 5.1% 0.9 pts 19% #3

-0.8% -3.7% -0.1 pts 3% #4

-8.0% -9.0% -0.3 pts 27% #2

*Source: IRI MULO through April 16, 2017.

Based on IRIs Snyders-Lance custom definitions.
9
 Delivering improving financial returns
Adjusted Net Revenue* ($ in millions) Adjusted Operating Margin*

2,109 8.8%
+10% CAGR 1,305 +430 bps
(+3% Organic) 4.5%

2011 2016 2011 2016

Adjusted Earnings Per Share* Free Cash Flow* ($ in millions)

$1.11 196

+20% CAGR +28% CAGR

$0.44 58

2011 2016 2011 2016

*Note: Historical financial results are adjusted to exclude discontinued operations and special items. Net revenue results are also adjusted to normalize for
the impact of our IBO conversion, primarily an impact to 2011 revenues due to higher revenue under the previous distribution model. See the appendix for a
reconciliation of these non-GAAP measures. 10
 Disciplined capital stewardship

CASH FLOWS CAPITAL EXPENDITURES

Operating Cash Flow (net of proceeds from sale of fixed assets)
Free Cash Flow(1) 71 70 72
65
50
267

196
2012 2013 2014 2015 2016

141 140 146

DAYS WORKING CAPITAL(3)

93 96
45
76 70 37 38 39
31

22

2012 2013 2014(2) 2015 2016 2012 2013 2014 2015 2016
1) The company defines free cash flow as cash provided by operating activities less capital expenditures net of proceeds from the sale of fixed assets.
(2) Taxes paid for the gain on the sale of Private Brands of $127.4 million were excluded from our calculation of free cash flow for 2014 as this operating cash outflow was generated by a non-recurring transaction.
Note: See the appendix for a reconciliation of these non-GAAP measures.
(3) Days Working Capital reflects average working capital multiplied by 365 divided by annual revenues. The Days Working Capital calculation includes results from both continuing and discontinued operations.

11
 Strong balance sheet and financial flexibility

CAPITAL ALLOCATION PRIORITIES LEVERAGE RATIO*

Organic investments
Fuel for Growth
M&A

Leverage targets
Debt Reduction
Financial flexibility 4.5x 4.2x 4.0x
~3.5x

Dividend policy
Return to Shareholders
Share repurchases

Feb 29 2016 Dec 31 2016 April 1 2017 Dec 31 2017

DMND Close Estimate

*Ratio of Total Debt to Debt Covenant EBITDA. Debt Covenant EBITDA is adjusted for acquisition and integration costs, stock-based compensation,
and unusual items that impact the comparability of our financial information, as defined in our Credit Agreement.
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Strategic Plan to Unlock Significant
Shareholder Value
 Our first quarter results were significantly below our expectations

(in $millions, except per share amounts)

Net Revenue(1) Operating Income(2) First Quarter Headwinds

+19% -22%
Net Revenue Shortfall

448 532 36
28 Quality of Revenue

1Q16 1Q17 1Q16 1Q17

COGS Mix / Performance
Adjusted EBITDA(2) Earnings per Share(2)

-7% -50%
S&D Performance

57 53 $0.26
$0.13 One-time Expenses

1Q16 1Q17 1Q16 1Q17

(1) Includes contribution of Diamond Foods for Q1 2017.
(2) Includes contribution of Diamond Foods for Q1 2017 and excludes special items for both years.
Note: Continuing operations only. For a corresponding reconciliation of data excluding special items to data including special items, see the
reconciliation of non-GAAP measures in the Appendix.
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 We have identified five key drivers that have negatively impacted
our performance

Poor Net Price Supply Chain SKU Inefficient Indirect Overly Tactical
Driver Realization Complexity Proliferation Cost Structure Growth Focus

We have Manufacturing ~50% of our items Our indirect cost Volume sold at a
experienced the network utilization is account for only 5% structure is higher discount has
Why we lowest pricing low of gross sales than our peers as a accounted for 150%
believe growth of our peer percentage of net of our retail sales
set since 2015 Procurement Opportunity for revenue growth since 2014
capabilities are still clearer innovation
below best in class plans and guardrails Opportunity to
improve brand-
Current logistics portfolio strategy
network causes
inefficiencies in
transportation costs

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 We will attack these drivers head-on with five countervailing imperatives
to comprehensively improve our performance

Poor Net Price Supply Chain SKU Inefficient Indirect Overly Tactical
Realization Complexity Proliferation Cost Structure Growth Focus
Driver

1 2 3 4 5

Improve Price Reduce Supply Optimize Product Improve Indirect Drive Growth
Imperative Realization Chain Complexity Portfolio Cost Efficiency Strategically

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1
Improving price realization to generate an increasing retail price
Improve Price
Realization per pound will drive value for Snyders-Lance and our retailers
Average Retail Price / Pound
February 2015 YTD 2017

104
Improve Price Realization
Peer
Group Improve trade spend productivity &
effectiveness and strategic brand mix
102 management

100
Improve trade productivity
Actively pursue optimal price /
size structures and assortment
98 Optimize brand & product mix
Implement strategic pricing
Design to value to increase &
96
capture customer value

Source: IRI MULO data ending 4/16/2017

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2
Reduce Supply chain complexity reduction will improve overall facility
Supply Chain
Complexity utilization and improve operating margins
Snyders-Lance Facility Utilization

Facilities with Utilization Facilities with Utilization

Rates Above 80% Rates Below 80% Reduce Supply Chain
Complexity
Reduce our manufacturing and
distribution network complexity

Improve manufacturing efficiency

Build S&OP excellence
Streamline manufacturing
footprint
Build procurement capabilities
Re-design & optimize logistics
8 of 11 manufacturing facilities are under-utilized network

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 3

Optimize
Product portfolio optimization will reduce complexity and focus
product portfolio our organization on the products our customers really want
Total Gross Sales Per Item

Optimize Product
Average gross sales
5% of $90k per item Portfolio
Reduce business complexity through
SKU rationalization and ongoing
50%
product portfolio maintenance

Average gross sales

95% of $2.3M per item
Execute proactive product
portfolio maintenance
Streamline R&D portfolio
50%
Re-shape and re-size our co-
manufacturing portfolio

Items 2016 Branded

Gross Sales

Note: Excludes discontinued operations

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4

Improve Indirect
Focus on indirect cost efficiency will improve operating margins
Cost Efficiency

Adjusted SG&A(1) as a Percentage of Revenue vs. Peers

Improve Indirect Cost

Efficiency
Group Average: ~14% Accelerate zero-based budgeting to
improve indirect cost productivity

Accelerate zero-based
budgeting efforts
Streamline shared services

(1) Reported SG&A adjusted for Advertising, R&D, and Shipping and Handling included in SG&A.
Source: Latest annual public company filings.
Note: Competitor set includes BGS, CAG, CBP, DF, FLO, GIS, HSY, JJSF, K, KHC, LANC, MDLZ, MKC, PF, POST, SJM, THS. 20
 5

Drive Growth
Driving growth strategically through brand investment will
Strategically provide a sustainable growth trajectory
Snyders Lance Core 8 Brands Dollar Trends IRI MULO
(in millions) Change

$1,579 $1,632 $1,686 $1,697 +$118 Drive Growth Strategically

Promoted $830 +$174
Sales
$690 $736 $864 Grow core brands through investment,
emphasis on base business
Full Price
Sales
$889 $896 $856 $833 -$56 fundamentals & margin accretive
innovation
2014 2015 2016 LTM 3/17/2017

Advertising Spend as a Percentage of Sales Invest in our brands by

redeploying resources to working
marketing spend

Average of Best in Class

Execute against brand portfolio
Branded CPG: ~5% strategy
2.6% Average: ~4%% Strategically place resources
behind e-commerce growth
Refine international strategy

Source: Company filings; latest 10-K filed

Peer set includes CAG, CPB, FLO, GIS, HAIN, HRL, HSY, JJSF, JNJ, K, KHC, KO, MDLZ, PEP
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 Our five imperatives will begin delivering financial impact in 2017 and
lay the foundation for continued growth and margin expansion

OPERATING MARGIN*
Low-to-mid teens

8.8% ~9%

7.2%
6.6%

2014 2015 2016 2017E LT Target

Margin expansion will be balanced by long-term organic

growth targeting above category growth

*Note: Historical financial results are adjusted to exclude discontinued operations and special items. Net revenue results are also adjusted to normalize
for the impact of our IBO conversion, primarily an impact to 2011 and 2012 revenues due to higher revenue under the previous distribution model. See the
appendix for a reconciliation of these non-GAAP measures. 22
 2017 Financial Outlook*

In millions, expect per share amounts

2016 Actuals 2017 Outlook: Low-end 2017 Outlook: High-end

Total Net Revenue $2,109 $2,200 4% growth $2,250 7% growth

(1% organic) (3% organic)

EPS $1.11 $1.05 5% decline $1.20 8% growth

Adj. EBITDA $284 $290 2% growth $315 11% growth

Additional Assumptions

Capital Expenditures: $75 - $85 Tax Rate: 33.5% - 35.5% Interest Expense: $32 -$35 Weighted Avg. Shares: ~98

Note: 2017 outlook excludes special items. 2016 actual results exclude discontinued operations.
*See press release dated May 8, 2017. Full-year 2017 GAAP guidance are not provided in this release due to the likely occurrence of one or more of the following items where the Company is unable to reliably forecast the timing and magnitude: Continued transaction and integration related costs
associated with the divestiture of Diamond of California, other potential transactions and their related costs, settlements of contingent liabilities, possible gains or losses on the sale of businesses or other assets, restructuring costs, impairment charges, and the income tax effects of these.

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Appendix
Non-GAAP Reconciliation Tables

Net Revenue 2011 2012 2013 2014 2015 2016

Net revenue from continuing operations 1,361,889 1,362,911 1,504,332 1,620,920 1,656,399 2,109,227
Special items - - 266 - - -
Adjustment for IBO conversion (57,000) (9,375) - - - -
Net revenue, excluding special items and IBO conversion 1,304,889 1,353,536 1,504,598 1,620,920 1,656,399 2,109,227

Operating Margin 2011 2012 2013 2014 2015 2016

GAAP gross profit 521,160 490,595 541,259 578,462 579,289 763,790
GAAP SG&A expense (472,636) (415,610) (447,170) (478,532) (477,911) (660,229)
Operating Income from continuing operations 48,524 74,985 94,089 99,930 101,378 103,561
Special Items included in operating income 9,735 8,928 4,966 7,783 18,294 82,167
Operating income excluding special items 58,259 83,913 99,055 107,713 119,672 185,728

Operating margin %, excluding special items and IBO conversion 4.5% 6.2% 6.6% 6.6% 7.2% 8.8%

Adjusted EBITDA Margin 2013 2014 2015 2016

Income before interest and taxes 102,308 104,850 90,456 104,485
Depreciation and amortization 53,600 62,200 70,379 94,784
EBITDA 155,908 167,050 160,835 199,269
Special items included in EBITDA 6,866 4,277 30,290 84,841
Adjusted EBITDA 162,774 171,327 191,125 284,110

Adjusted EBITDA %, excluding special items 10.8% 10.6% 11.5% 13.5%

Note: All items presented include only continuing operations.

Diluted EPS 2011 2012 2013 2014 2015 2016

Income from continuing operations 20,468 45,064 55,239 59,275 50,685 41,984
Total special items after tax 9,514 3,823 4,187 5,890 21,257 61,536
Income from continuing operations excluding special items 29,982 48,887 59,426 65,165 71,942 103,520

Diluted EPS, excluding special items $ 0.44 $ 0.71 $ 0.85 $ 0.92 $ 1.01 $ 1.11

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Non-GAAP Reconciliation Tables

Free Cash Flow TTM

2011 2012 2013 2014* 2015 2016 Q1 2017

Cash flow provided by operating activities $ 111,528 $ 92,768 $ 140,736 $ 140,425 $ 146,154 $ 267,369 $ 268,527
Purchases of fixed assets (57,726) (80,304) (74,579) (72,056) (51,468) (73,261) (72,816)
Proceeds from the sale of fixed assets 4,351 9,324 9,448 2,122 1,776 1,409 1,362
Free cash flow $ 58,153 $ 21,788 $ 75,605 $ 70,491 $ 96,462 $ 195,517 $ 197,073

* Taxes paid for the gain on the sale of Private Brands of $127.4 million w ere excluded from our calculation of free cash flow for 2014 as this operating cash outflow
w as generated by a non-recurring transaction.

26
Non-GAAP Reconciliation Tables
SNYDERS-LANCE, INC. AND SUBSIDIARIES
Reconciliation of Non-GAAP Measures (Unaudited)
Gross profit, excluding special items
Quarter Ended
April 1, 2017 April 2, 2016

Net revenue $ 531,501 $ 447,869

Cost of sales 346,735 304,779
Gross profit $ 184,766 $ 143,090
As a % of net revenue 34.8% 31.9%

Transaction and integration related expenses (1) 237 34

(2)
Emerald move 635 -
Business restructuring(3) 200 -
(4)
Inventory step-up - 13,630
Other(5) (90) 349

Gross profit, excluding special items $ 185,748 $ 157,103

As a % of net revenue 34.9% 35.1%

(1) For the first quarter of 2017, transaction and integration related expenses primarily consists of legal fees, idle facility lease costs, severance and initial up-front employee benefit plan costs.
(2) Includes costs associated with the relocation of Emerald production from Stockton, CA to Charlotte, NC.
(3) Consists of severance and retention benefits associated with an organizational restructure.
(4) The inventory step-up represents the additional cost of sales recognized in Q1 2016 as a result of stepping up Diamond Foods inventory to fair value at the acquisition date.
(5) For the first quarter of 2016, other items primarily consist of the write off of spare parts associated with impaired fixed assets.

27
Non-GAAP Reconciliation Tables
SNYDERS-LANCE, INC. AND SUBSIDIARIES
Reconciliation of Non-GAAP Measures (Unaudited)
Operating income, excluding special items
Quarter Ended
April 1, 2017 April 2, 2016

Operating income/(loss) $ 23,926 $ (27,312)

As a % of net revenue 4.5% -6.1%

Transaction and integration related expenses (1)(2) 1,344 49,013

(3)
Emerald move 2,091 -
Business restructuring(4) 770 -
Inventory step-up(5) - 13,630
Impairment charges(6) - 374
Other(7) (118) 392

Operating income, excluding special items $ 28,013 $ 36,097

As a % of net revenue 5.3% 8.1%

(1) For the first quarter of 2017, transaction and integration related expenses primarily consists of legal fees, idle facility lease costs, severance and initial up-front employee benefit plan costs.
(2) For the first quarter of 2016, transaction and integration related expenses included severance, retention and accelerated stock-based compensation which was recognized due primarily to change in control provisions and
severance agreements with Diamond Foods personnel. The remaining costs were primarily professional fees and legal costs associated with completion of the acquisition and subsequent integration of Diamond Foods.
(3) Includes costs associated with the relocation of Emerald production from Stockton, CA to Charlotte, NC.
(4) Consists of severance and retention benefits associated with an organizational restructure.
(5) The inventory step-up represents the additional cost of sales recognized in Q1 2016 as a result of stepping up Diamond Foods inventory to fair value at the acquisition date.
(6) Consists of impairment charges for certain fixed assets.
(7) For the first quarter of 2016, other items primarily consist of the write off of spare parts associated with impaired fixed assets.

28
Non-GAAP Reconciliation Tables
SNYDERS-LANCE, INC. AND SUBSIDIARIES
Reconciliation of Non-GAAP Measures (Unaudited)
EBITDA and Adjusted EBITDA
Quarter Ended
April 1, 2017 April 2, 2016

Income/(loss) from continuing operations $ 11,326 $ (22,848)

Income tax expense/(benefit) 4,662 (13,614)
Interest expense, net 8,954 4,729
Loss on early extinguishment of debt - 4,749
Depreciation 17,718 15,870
Amortization 6,889 4,287
EBITDA $ 49,549 $ (6,827)
As a % of net revenue 9.3% -1.5%

Transaction and integration related expenses (1)(2) 1,344 49,013

Emerald move (3) 2,091 -
Business restructuring(4) 770 -
Inventory step-up(5) - 13,630
Impairment charges(6) - 374
Other(7)(8) (938) 392

Adjusted EBITDA $ 52,816 $ 56,582

As a % of net revenue 9.9% 12.6%

(1) Transaction and integration related expenses primarily consists of legal fees, idle facility lease costs, severance and initial up-front employee benefit plan costs.
(2) For the first quarter of 2016, transaction and integration related expenses included severance, retention and accelerated stock-based compensation which was recognized due primarily to change in control provisions
and severance agreements with Diamond Foods personnel. The remaining costs were primarily professional fees and legal costs associated with completion of the acquisition and subsequent integration of Diamond Foods.
(3) Includes costs associated with the relocation of Emerald production from Stockton, CA to Charlotte, NC.
(4) Consists of severance and retention benefits associated with an organizational restructure.
(5) The inventory step-up represents the additional cost of sales recognized in Q1 2016 as a result of stepping up Diamond Foods inventory to fair value at the acquisition date.
(6) Consists of impairment charges for certain fixed assets.
(7) For the first quarter of 2017, other items primarily consist of proceeds from class action insurance settlement.

29
Non-GAAP Reconciliation Tables
SNYDERS-LANCE, INC. AND SUBSIDIARIES
Reconciliation of Non-GAAP Measures (Unaudited)
Net income attributable to Snyder's-Lance, excluding special items
Quarter Ended
April 1, 2017 April 2, 2016

Net income/(loss) attributable to Snyder's-Lance from continuing operations $ 11,162 $ (22,885)

Transaction and integration related expenses, net of tax (1)(2) 836 31,400
Emerald move, net of tax (3) 1,300 -
Business restructuring, net of tax (4) 479 -
Inventory step-up, net of tax (5) - 8,743
Loss on debt prepayment, net of tax (6) - 3,042
Impairment charges, net of tax (7) - 239
Other, net of tax (8)(9) (584) 251

Net income attributable to Snyder's-Lance from continuing operations, excluding special items $ 13,193 $ 20,790

(1) Transaction and integration related expenses primarily consists of legal fees, idle facility lease costs, severance and initial up-front employee benefit plan costs.
(2) For the first quarter of 2016, transaction and integration related expenses included severance, retention and accelerated stock-based compensation which was recognized due primarily to change in control provisions and
severance agreements with Diamond Foods personnel. The remaining costs were primarily professional fees and legal costs associated with completion of the acquisition and subsequent integration of Diamond Foods.
(3) Includes costs associated with the relocation of Emerald production from Stockton, CA to Charlotte, NC.
(4) Consists of severance and retention benefits associated with an organizational restructure.
(5) The inventory step-up represents the additional cost of sales recognized in Q1 2016 as a result of stepping up Diamond Foods inventory to fair value at the acquisition date.
(6) The loss on extinguishment of debt was a result of the early repayment of our private placement loan due to the financing obtained for the acquisition of Diamond Foods.
(7) Consists of impairment charges for certain fixed assets.
(8) For the first quarter of 2017, other items primarily consist of proceeds from class action insurance settlement.
(9) For the first quarter of 2016, other items primarily consist of the write off of spare parts associated with impaired fixed assets.

30
Non-GAAP Reconciliation Tables
SNYDERS-LANCE, INC. AND SUBSIDIARIES
Reconciliation of Non-GAAP Measures (Unaudited)
Adjusted effective income tax rate

Quarter Ended April 1, 2017

(in thousands)
GAAP Income Adjustments Adjusted Income
Income before income taxes $ 15,988 $ 3,266 $ 19,254
Income tax expense 4,662 1,235 5,897
Net income 11,326 2,031 13,357
Net income attributable to non-controlling interests 164 - 164
Net income attributable to Snyder's-Lance $ 11,162 $ 2,031 $ 13,193

Effective income tax rate 29.2% 30.6%

Quarter Ended April 2, 2016

(in thousands)
(Loss)/Income from Continuing Operations
GAAP Income Adjustments Adjusted Income
(Loss)/income before income taxes $ (36,462) $ 68,158 $ 31,696
Income tax (benefit)/expense (13,614) 24,483 10,869
Net (loss)/income (22,848) 43,675 20,827
Net income attributable to non-controlling interests 37 - 37
Net (loss)/income attributable to Snyder's-Lance $ (22,885) $ 43,675 $ 20,790

Effective income tax rate (1) 37.3% 34.3%

(1) The tax rate on adjusted income varies from the tax rate on GAAP income for the first quarter of 2016 primarily due to the transaction costs incurred in the first quarter of
2016 which are not deductible for tax purposes.

31