JDE Peet’s accelerates its journey towards 100% responsibly sourced coffee

PRESS RELEASE

Amsterdam, 16 May 2022

Key highlights

JDE Peet’s will increase its responsibly sourced coffee target from 30% to 80% globally in 2022, positioning the company as a FMCG leader in sustainable coffee sourcing
EUR 150 million investment in responsible sourcing programme will ultimately lead to 100% responsibly sourced coffee by 2025 and will positively impact more than one million smallholder coffee farmers
The pioneering partnership between Peet’s Coffee and Enveritas continues to build and improve sustainable sourcing through a data-driven approach

JDE Peet’s (EURONEXT: JDEP), the world’s leading pure-play coffee and tea company by revenue, today announced it will increase its responsibly sourced coffee target from 30% to 80% by the end of 2022. The company also announced it will invest EUR 150 million into its responsible sourcing programme to directly support more than one million smallholder coffee farmers by 2025. These initiatives will position JDE Peet’s as a leader in sustainable coffee sourcing within the FMCG sector.

In 2021, Peet’s Coffee, the U.S. subsidiary of JDE Peet’s, reached 100% responsibly sourced coffee through its partnership with Enveritas, a non-government organisation that has developed a new, data-driven approach to sustainability assurance. Enveritas offers a different way of addressing sustainability - an approach where producers access free verification of their practices, while encouraging a deeper understanding and commitment to solving the most challenging sustainability issues. To date, Enveritas has verified more than 200,000 coffee farms around the world against a complete set of sustainability standards. JDE Peet’s will now leverage the partnership with Enveritas across its broader coffee supply chain, allowing it to reach its ambition of 100% responsibly sourced coffee by 2025.

“JDE Peet’s is deeply committed to creating a sustainable future for the customers and consumers we serve while creating long-term value for the business and our stakeholders,” said Fabien Simon, CEO of JDE Peet’s. “Being the world’s leading pure-play coffee and tea company comes with great responsibility to ensure the resilience of the global coffee supply, in an authentic, inclusive and regenerative way. With this partnership and increased investments, we are elevating industry standards, and are committed to play our part to create a better future for our farmers, their families and the entire coffee ecosystem.”

These announcements form an integral part of JDE Peet’s’ Sustainability programme, which aims to partner with suppliers, NGOs, and others to address key sustainability challenges in the countries from which JDE Peet’s sources its coffee, tea and other agricultural ingredients. Through this programme, the company has already reached over 470,000 smallholder farmers with more than 50 collaborative projects across 18 countries since 2015.

“We touch all stages of the coffee and tea ecosystem, from farmers to consumers, and therefore have an obligation to develop both near- and long-term solutions to protect the world we live in,” said Laurent Sagarra, Global Quality & Sustainability Director of JDE Peet’s. "Setting this ambitious target is part of our journey to lead the way in creating a more sustainable future.”

Today’s announcement follows the company’s recent commitments to SBTi-approved greenhouse gas emission reduction targets across its value chain. To learn more about JDE Peet's’ sustainability journey, please visit www.jdepeets.com/sustainability.

# # # Enquiries Media Malou de Rooy+31 20 558 1600 Media@JDEPeets.com Investors & AnalystsRobin Jansen+31 6159 44569IR@JDEPeets.com

About JDE Peet’s

JDE Peet’s is the world's leading pure-play coffee and tea company, serving approximately 4,500 cups of coffee or tea per second. JDE Peet's unleashes the possibilities of coffee and tea in more than 100 markets with a portfolio of over 50 brands including L’OR, Peet’s, Jacobs, Senseo, Tassimo, Douwe Egberts, OldTown, Super, Pickwick and Moccona. In 2021, JDE Peet’s generated total sales of EUR 7 billion and employed a global workforce of more than 19,000 employees. Read more about our journey towards a coffee and tea for every cup at www.jdepeets.com.

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