November 2013

1. Investor Presentation November 2013

2. Disclaimer This presentation has been issued for information purposes by Crawshawplc (the “Company”). It is being distributed by WH Ireland Limited (“WH Ireland”), in its capacity as broker to the Company. WH Ireland is regulated by the Financial Condust Authority. The content of this promotion has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000.   The information in this presentation is subject to updating, completion, revision, further verification and amendment without notice. This presentation does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in the Company, nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, or act as an inducement to enter into any contract or commitment therefore. This presentation is only being distributed and made available to persons of the kind described in Article 19(5) (investment professionals) and Article 49(2) (high net worth companies, unincorporated associations, etc.) of Part IV of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (“FPO”) and any investment activity to which this presentation relates is only available to and will only be engaged with such persons. Persons who do not have professional experience in matters relating to investment or who are not persons to whom Article 49 of the FPO applies should not rely upon this presentation. No representation or warranty, express or implied, is made or given by or on behalf of the Company or WH Ireland, any of their respective directors, or any other person as to the accuracy or completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any of them for such information or opinions or for any errors, omissions, misstatements, negligent or otherwise, or for any communication written or otherwise, contained or referred to in this presentation. Accordingly, neither the Company nor WH Ireland nor any of their respective directors, officers, employees, advisers, associated persons or subsidiary undertakings shall be liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying upon the statement or as a result of any admission in, or any document supplied with, this presentation or by any future communications in connection with such documents and any such liabilities are expressly disclaimed. WH Ireland Limited is the adviser to the Company and no one else (whether or not a recipient of these slides) and will not be responsible to anyone other than the Company for providing the protections afforded to customers of W. H. Ireland Limited for providing advice (financial or otherwise) in relation to the Company. WH Ireland’s responsibilities as the Company's Nominated Adviser and Broker, respectively, under the AIM Rules of the London Stock Exchange will be owed solely to the London Stock Exchange plc and not to the Company, to any of its directors or any other person. Prospective investors interested in investing in the Company are recommended to seek their own independent financial advice from a person authorised for the purposes of the Financial Services and Markets Act 2000. This presentation and its contents are confidential and should not be distributed, published or reproduced in whole or in part or disclosed by recipients to any other person. This presentation is not for distribution outside the United Kingdom and, in particular, should not be distributed to persons with addresses in Canada, Australia, Japan, Republic of Ireland, Republic of South Africa, or to persons with addresses in the United States of America, its territories or possession or to any citizen thereof or to any corporation, partnership or other entity created or organized under the laws thereof. Any such distribution could result in the violation of Canadian, Australian, Japanese, Irish, South African or United States of America law.

3. What We Do • Meat based retailer with 20 retail stores in Yorkshire, Lincolnshire, Nottinghamshire & Derby • Vertical integration. In house processing, warehousing and logistics (2 factories) • Varied product offer, Competitive pricing, Loyal customer base. • 65% Raw Meat; 35% hot food to go

4. Retail stores

5. In House Processing & Distribution Cold storage Frozen storage Cutting De-boning Packing & labelling Wholesale & catering Sausage & burger production Own fleet of refrigerated trucks Delivery to own stores & catering customers Capacity to double throughput

6. Retail Proposition • Product Variety, Quality & Value • Pre packaged meats sold in multi deck displays. Up to 40% cheaper than the supermarkets. • Hot cooked preparation/hot & ambient serve over counters – lunchtime takeaway & meals to take home • Key lines plus products on offer constantly changing • Quick distribution/turnover on promoted goods • Mix & Match Multi Buy Offers • Satisfied customers returning each week • Special offers communicated outside front of store • Market trader experience on the high street • Tried and tested customer recruitment method

7. Varied Product Offer

8. Customer Feedback • 40% of customers say the recession did affect their meat buying habits – most reduced the amount they spent on meat by either • Shopping less frequently and making purchases last longer. • Buying cheaper cuts • 90%+ of customers highly rate our quality and value for money – which is an exceptional performance underlined by the loyalty of our customer base.

9. Key points – Interim results to July 2013 • Like for Like (LFL) sales up 5% in the 6 months to the end of July (2012 : +4%). • Overall sales have increased to £9.8m (2012 : £9.3m). • Gross profit increased 6% to £4.3m (2012 : £4.1m). • Gross margin up at 43.9% (2012 : 43.6%). • EBITDA significantly improved at £0.5m (2012 : £0.3m). • PBT up 3 fold at £0.3m (2012 : £0.1m) • Earnings per share up to 0.473p (2012: 0.155p) • Interim cash dividend announced at 0.09 pence per share • Generated £0.5m cash in the 6 months to 31st July, 2013 (2012: £0.3m) • Net Cash position £0.3m (31st January 2013: £Nil) • We are encouraged with current trading, like for like sales for the first 8 weeks of the second half are up 10% with gross margin in line with first half performance.

10. Why Are We Doing Better? • Management have introduced • Improvements in IT communications, sales reporting and analysis • CCTV installed and monitored in each store • Clocking systems at each store • Assistant Manager Training • Sales promotions • Wastage Management • External factors are relatively stable – Input Prices and product availability. • Trading environment is better - Customers still want value but appear to have more money to spend. • No adverse weather in the period restricting footfall in town centers

11. New Store Openings • 8 new stores opened between July 2008 and February 2011 • Lessons learned : • High cost of capex, coupled with difficulty in predicting relevant footfall. • High level of expertise required in store to butcher, pack, sell, cook, manage stock, hygiene & wastage, means that new recruits take time to settle in. • The larger format stores in major town centre locations are the most profitable and are showing the best returns on capital employed – based on an initial capital outlay of £350k payback occurs within 2 to 3 years

12. Opportunities for 2013 and beyond Continue to drive performance going forward via: Quality of the Hot Food Offer to improve footfall • Training programme for cooks to improve consistency & quality • Area Supervisor employed to audit standards • New sandwich offer introduced • Improving the training and succession planning for shop managers • The best managers can improve results dramatically • New Assistant managers have been identified and trained • Apprentices are being employed & trained. • Using tactical promotions to improve sales • Sellers employed at stores to improve turnover • New Pack sizes introduced – 3 for £20

13. Growth Strategy 1 • Why current format presents roll out challenges? • High Capex • Affordable high footfall sites • Complex operational requirements requires skilled management and time to establish. • Break even point relatively high

14. Growth Strategy 2 • We are currently developing a new model which addresses these issues: • “ HOT FOOD TO GO” only • Operationally simpler to manage • Most food prep done centrally • Fewer food safety issues • Better consistency of quality • Less local complexity • Fewer retail staff

15. Growth Strategy 2 (Continued) • Higher returns possible • Much lower capex • Smaller retail footprint • More cost effective • Lower break even point • Opportunity to open more stores & scale more quickly • PLEASE BE AWARE THAT THIS IS ONLY A CONCEPT AT THIS STAGE. We are testing the commercials and evaluating the layout, capex and operational costs. Success is yet to be tested.

16. Appendix – Listing & Board details • AIM Listed PLC April 2008 • Large Institutional shareholders 32% • Isis 9.1% • Henderson 8.8% • Unicorn 8.5% • Schroders 5.5% • Directors holding 32% • Board Members • Richard Rose( Chairman) –Chairman at Booker, Anpario and DRL(AO.com) • Kevin Boyd (Managing Dir) –started as a butcher/manager at Crawshaws • Lynda Sherratt (Finance Dir) –previously Littlewoods & Ford • Colin Crawshaw (Buying Dir) –pre listing owner/manager of Crawshaws • Mark Naughton-Rumbo (Non Exec) –previously CEO Whittards.