Supplemental Consolidating Financial Information

In connection with the 7.875% Notes, certain of our domestic subsidiaries (the "Guarantor Subsidiaries"), fully, unconditionally, jointly, and severally guaranteed the payment obligations under the notes. The Guarantor Subsidiaries are 100% owned direct and indirect subsidiaries of Chiquita Brands L.L.C. ("CBLLC" or the "Co-Issuer"), who is 100% owned by CBII ("CBII" or the "Parent Company"). The following supplemental financial information sets forth, on a consolidating basis, the balance sheets, statements of operations, statements of comprehensive income and statements of cash flows for CBII, for CBLLC, for the Guarantor Subsidiaries and for our other subsidiaries (the "Non-Guarantor Subsidiaries").

The supplemental condensed consolidating financial information has been prepared pursuant to the rules and regulations for condensed financial information and does not include disclosures included in annual financial statements. Investments in consolidated subsidiaries have been presented under the equity method of accounting. The principal eliminating entries eliminate investments in subsidiaries, intercompany balances and intercompany revenues and expenses. The condensed financial information may not necessarily be indicative of the results of operations or financial position had the guarantor or non-guarantor subsidiaries operated as independent entities.



Chiquita Brands International, Inc.
Condensed Consolidating Statement of Operations (Unaudited)
Quarter Ended March 31, 2015
(in thousands)
	CBII			CBLLC			Guarantor			Non-Guarantor			Consolidating			Company
	(Co-issuer)			(Co-issuer)			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	200,352		$	295,017		$	472,777		$	(242,815	)	$	725,331
Cost of sales	—			211,948			254,039			399,219			(242,602		)	622,604
Selling, general and administrative	3,007			5,303			17,385			23,706			—			49,401
Transaction costs	38,044			4,096			4,620			1,219			—			47,979
Depreciation	—			5,324			5,679			4,932			—			15,935
Amortization	—			—			2,335			7			—			2,342
Equity in losses (earnings) of investees and subsidiaries	(3,488		)	(53,968		)	(1		)	—			57,457			—
Operating income (loss)	(37,563		)	27,649			10,960			43,694			(57,670		)	(12,930		)
Interest income	—			—			—			664			—			664
Interest expense	(3,982		)	(4,404		)	(676		)	(123		)	—			(9,185		)
Loss on debt extinguishment	(17,112		)	(19,100		)	—			—			—			(36,212		)
Other income (expense), net	—			—			—			(602		)	—			(602		)
Intercompany interest and other	392			(657		)	(116		)	168			213			—
Income (loss) before income taxes	(58,265		)	3,488			10,168			43,801			(57,457		)	(58,265		)
Income tax expense	(6,361		)	(67		)	(4,424		)	(712		)	5,203			(6,361		)
Net income (loss)	$	(64,626	)	$	3,421		$	5,744		$	43,089		$	(52,254	)	$	(64,626	)



Chiquita Brands International, Inc.
Condensed Consolidating Statement of Comprehensive Loss (Unaudited)
Quarter March 31, 2015
(in thousands)
	CBII			CBLLC		Guarantor		Non-Guarantor			Consolidating			Company
	(Co-issuer)			(Co-issuer)		Subsidiaries		Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	(64,626	)	$	3,421	$	5,744	$	43,089		$	(52,254	)	$	(64,626	)
Unrealized foreign currency translation gains	—			—		—		2			—			2
Realized losses for foreign currency translation on business disposal reclassified into Other income (expense), net	—			—		—		602			—			602
Net other comprehensive income related to foreign currency translation	—			—		—		604			—			604

Unrealized gains (losses) on derivatives for the period	—			—		—		18,274			—			18,274
Derivative gains reclassified into Net sales	—			—		—		(16,978		)	—			(16,978		)
Derivative losses reclassified into Cost of sales	—			—		—		8,775			—			8,775
Net other comprehensive income related to derivatives	—			—		—		10,071			—			10,071

Actuarial gains for the period, net of tax	—			—		—		2,172			—			2,172
Amortization included in pension cost	—			103		—		181			—			284
Net other comprehensive income related to defined benefit pension and severance plans	—			103		—		2,353			—			2,456

Other comprehensive income (loss) of investments in subsidiaries	13,131			13,028		—		—			(26,159		)	—

Comprehensive income (loss)	$	(51,495	)	$	16,552	$	5,744	$	56,117		$	(78,413	)	$	(51,495	)



Chiquita Brands International, Inc.
Condensed Consolidating Statement of (Operations) (Unaudited)
Quarter Ended March 31, 2014
(in thousands)
	CBII			CBLLC			Guarantor			Non-Guarantor			Consolidating			Company
	(Co-issuer)			(Co-issuer)			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	209,044		$	293,273		$	502,259		$	(242,586	)	$	761,990
Cost of sales	—			202,000			262,872			462,579			(242,199		)	685,252
Selling, general and administrative	7,908			3,787			22,172			20,524			—			54,391
Transaction Costs	5,919			—			—			—			—			5,919
Depreciation	—			1,276			6,199			6,024			—			13,499
Amortization	—			—			2,335			6			—			2,341
Equity in losses of investees	95			(7,565		)	3,473			—			3,997			—
Operating income (loss)	(13,922		)	9,546			(3,778		)	13,126			(4,384		)	588
Interest income	—			2			33			629			—			664
Interest expense	(5,292		)	(9,231		)	(884		)	(61		)	—			(15,468		)
Loss on debt extinguishment	—			(521		)	—			—			—			(521		)
Other income (expense), net	583			109			(451		)	(4,522		)	387			(3,894		)
Income (loss) before income taxes	(18,631		)	(95		)	(5,080		)	9,172			(3,997		)	(18,631		)
Income tax expense	(5,972		)	(343		)	1,968			(914		)	(711		)	(5,972		)
Net income (loss)	$	(24,603	)	$	(438	)	$	(3,112	)	$	8,258		$	(4,708	)	$	(24,603	)



Chiquita Brands International, Inc.
Condensed Consolidating Statement of Comprehensive Loss (Unaudited)
Quarter Ended March 31, 2014
(in thousands)
	CBII			CBLLC			Guarantor			Non-Guarantor			Consolidating			Company
	(Co-issuer)			(Co-issuer)			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	(24,603	)	$	(438	)	$	(3,112	)	$	8,258		$	(4,708	)	$	(24,603	)
Unrealized foreign currency translation gains	—			—			—			16			—			16
Realized losses for foreign currency translation on business disposal reclassified into Other income (expense), net	—			—			—			252			—			252
Net other comprehensive income related to foreign currency translation	—			—			—			268			—			268
																—
Unrealized losses on derivatives for the period	—			—			—			(1,046		)	—			(1,046		)
Derivative losses reclassified into Net sales	—			—			—			1,027			—			1,027
Derivative gains reclassified into Cost of sales	—			—			—			(175		)	—			(175		)
Net other comprehensive loss related to derivatives	—			—			—			(194		)	—			(194		)
																—
Actuarial losses for the period, net of tax	—			—			—			(342		)	—			(342		)
Amortization included in pension cost	—			104			—			196			—			300
Net other comprehensive income (loss) related to defined benefit pension and severance plans	—			104			—			(146		)	—			(42		)
																—
Other comprehensive income (loss) of investments in subsidiaries	(220		)	(324		)	—			—			544			—

Comprehensive income (loss)	$	(24,823	)	$	(658	)	$	(3,112	)	$	8,186		$	(4,164	)	$	(24,571	)



Chiquita Brands International, Inc.
Condensed Consolidating Balance Sheet (Unaudited)
March 31, 2015
(in thousands)
	CBII		CBLLC		Guarantor		Non-Guarantor		Consolidating			Company
	(Co-Issuer)		(Co-issuer)		Subsidiaries		Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and equivalents	$	17,581	$	4,114	$	306	$	33,598	$	—		$	55,599
Trade receivables, less allowances	—		59,021		60,972		126,475		—			246,468
Other receivables, net	—		6,020		4,071		48,302		—			58,393
Inventories	—		10,019		36,682		162,346		—			209,047
Prepaid expenses	443		3,428		6,405		31,591		—			41,867
Other current assets	—		17,660		13,423		503		(7,530		)	24,056
Total current assets	18,024		100,262		121,859		402,815		(7,530		)	635,430
Property, plant and equipment, net	—		10,141		189,383		185,163		—			384,687
Investments and other assets, net	9,429		9,092		3,967		74,430		—			96,918
Trademarks	—		208,085		38,500		179,500		—			426,085
Goodwill	—		—		18,095		—		—			18,095
Other intangible assets, net	—		—		75,176		27		—			75,203
Investments in and accounts with subsidiaries	1,447,583		1,229,638		3,548		—		(2,680,769		)	—
Due from affiliates	80,112		2,184,016		1,628,905		689,847		(4,582,880		)	—
Total assets	$	1,555,148	$	3,741,234	$	2,079,433	$	1,531,782	$	(7,271,179	)	$	1,636,418

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt and capital lease obligations	$	—	$	—	$	1,649	$	1,641	$	—		$	3,290
Accounts payable	3,632		6,307		101,399		137,117		—			248,455
Accrued liabilities	23,001		8,142		51,198		54,487		—			136,828
Total current liabilities	26,633		14,449		154,246		193,245		—			388,573
Long-term debt and capital lease obligations, net of current portion	44,158		196,162		39,553		3,576		—			283,449
Accrued pension and other employee benefits	9,498		6,360		8		62,498		—			78,364
Deferred tax liabilities	993		83,117		27,695		—		(7,530		)	104,275
Other liabilities	—		7,777		21,994		41,679		—			71,450
Long-term related parties debt	238,479		—		—		—		—			238,479
Due to affiliates	763,559		1,985,786		1,429,170		404,365		(4,582,880		)	—
Total liabilities	1,083,320		2,293,651		1,672,666		705,363		(4,590,410		)	1,164,590
Commitments and contingencies
Total shareholders' equity	471,828		1,447,583		406,767		826,419		(2,680,769		)	471,828
Total liabilities and shareholders' equity	$	1,555,148	$	3,741,234	$	2,079,433	$	1,531,782	$	(7,271,179	)	$	1,636,418



Chiquita Brands International, Inc.
Condensed Consolidating Balance Sheet
December 31, 2014
(in thousands)
	CBII		CBLLC		Guarantor		Non-Guarantor		Consolidating			Company
	(Co-Issuer)		(Co-issuer)		Subsidiaries		Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and equivalents	$	—	$	13,707	$	—	$	34,453	$	—		$	48,160
Trade receivables, less allowances	—		49,844		47,579		119,997		—			217,420
Other receivables, net	—		4,383		3,302		59,335		(210		)	66,810
Inventories	—		9,657		34,331		153,319		—			197,307
Prepaid expenses	209		5,555		8,193		24,861		—			38,818
Other current assets	—		10,070		11,506		503		(7,530		)	14,549
Total current assets	209		93,216		104,911		392,468		(7,740		)	583,064
Property, plant and equipment, net	—		15,680		194,362		186,987		—			397,029
Investments and other assets, net	22,032		11,209		4,372		79,150		(6,543		)	110,220
Trademarks	—		208,085		38,500		179,500		—			426,085
Goodwill	—		—		18,095		—		—			18,095
Other intangible assets, net	—		—		77,511		34		—			77,545
Investments in and accounts with subsidiaries	1,431,037		1,165,799		1,572		—		(2,598,408		)	—
Due from affiliates	84,298		2,377,190		1,537,915		626,343		(4,625,746		)	—
Total assets	$	1,537,576	$	3,871,179	$	1,977,238	$	1,464,482	$	(7,238,437	)	$	1,612,038

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt and capital lease obligations	$	—	$	1,500	$	1,674	$	1,529	$	—		$	4,703
Accounts payable	6,795		7,672		86,010		122,809		—			223,286
Accrued liabilities	31,752		24,308		54,199		48,436		(7,740		)	150,955
Total current liabilities	38,547		33,480		141,883		172,774		(7,740		)	378,944
Long-term debt and capital lease obligations, net of current portion	176,431		415,858		39,945		5,284		—			637,518
Accrued pension and other employee benefits	14,637		6,549		—		68,195		—			89,381
Deferred tax liabilities	—		83,188		27,720		—		(6,543		)	104,365
Due to affiliates	981,225		1,893,148		1,346,665		404,708		(4,625,746		)	—
Other liabilities	3,402		7,919		21,979		45,196		—			78,496
Total liabilities	1,214,242		2,440,142		1,578,192		696,157		(4,640,029		)	1,288,704
Commitments and contingencies
Total shareholders' equity	323,334		1,431,037		399,046		768,325		(2,598,408		)	323,334
Total liabilities and shareholders' equity	$	1,537,576	$	3,871,179	$	1,977,238	$	1,464,482	$	(7,238,437	)	$	1,612,038



Chiquita Brands International, Inc.
Condensed Consolidating Balance Sheet (Unaudited)
March 31, 2014
(in thousands)
	CBII		CBLLC		Guarantor		Non-Guarantor		Consolidating			Company
	(Co-Issuer)		(Co-issuer)		Subsidiaries		Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and equivalents	$	—	$	880	$	—	$	25,944	$	—		$	26,824
Trade receivables, less allowances	—		57,161		59,016		161,990		—			278,167
Other receivables, net	—		1,277		6,331		52,706		(1,018		)	59,296
Inventories	—		10,484		35,675		166,235		—			212,394
Prepaid expenses	1,276		1,167		9,781		33,870		—			46,094
Due from affiliates	53,086		2,103,203		1,342,820		525,705		(4,024,814		)	—
Other current assets	—		2,827		13,109		—		(9,214		)	6,722
Total current assets	54,362		2,176,999		1,466,732		966,450		(4,035,046		)	629,497
Property, plant and equipment, net	—		19,075		201,307		178,338		—			398,720
Investments and other assets, net	22,629		13,068		4,523		75,499		(6,351		)	109,368
Trademarks	—		208,085		38,500		179,500		—			426,085
Goodwill	—		—		18,095		—		—			18,095
Other intangible assets, net	—		—		84,517		54		—			84,571
Investments in and accounts with subsidiaries	1,402,092		1,085,194		2,313		—		(2,489,599		)	—
Total assets	$	1,479,083	$	3,502,421	$	1,815,987	$	1,399,841	$	(6,530,996	)	$	1,666,336

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt and capital lease obligations	$	—	$	1,500	$	1,181	$	1,488	$	—		$	4,169
Accounts payable	6,358		6,804		107,108		156,287		—			276,557
Accrued liabilities	30,737		19,660		56,917		54,400		(10,232		)	151,482
Due to affiliates	906,543		1,573,846		1,178,026		366,399		(4,024,814		)	—
Total current liabilities	943,638		1,601,810		1,343,232		578,574		(4,035,046		)	432,208
Long-term debt and capital lease obligations, net of current portion	167,006		421,749		41,159		5,190		—			635,104
Accrued pension and other employee benefits	14,724		2,663		—		61,115		—			78,502
Deferred gain - sale of shipping fleet	—		—		—		2,757		—			2,757
Deferred tax liabilities	235		66,150		45,943		—		(6,351		)	105,977
Other liabilities	1,983		7,957		8,831		41,520		—			60,291
Total liabilities	1,127,586		2,100,329		1,439,165		689,156		(4,041,397		)	1,314,839
Commitments and contingencies
Total shareholders' equity	351,497		1,402,092		376,822		710,685		(2,489,599		)	351,497
Total liabilities and shareholders' equity	$	1,479,083	$	3,502,421	$	1,815,987	$	1,399,841	$	(6,530,996	)	$	1,666,336



Chiquita Brands International, Inc.
Condensed Consolidating Statement of Cash Flows (Unaudited)
Quarter ended March 31, 2015
(in thousands)
	CBII			CBLLC			Guarantor			Non-Guarantor			Consolidating			Company
	(Co-Issuer)			(Co-Issuer)			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash provided (used) by:
Operating cash flow	$	(255,417	)	$	221,186		$	(2,054	)	$	1,055		$	—		$	(35,230	)

Capital expenditures	—			(94		)	(934		)	(3,559		)	—			(4,587		)
Investing activity with subsidiaries	—			(5,095		)	—			—			5,095			—
Other, net	—			—			(2		)	(233		)	—			(235		)
Investing cash flow	—			(5,189		)	(936		)	(3,792		)	5,095			(4,822		)

Issuances of long-term debt with related party	238,479			—			—			—			—			238,479
Repurchase of Convertible Notes	(146,401		)	—			—			—			—			(146,401		)
Redemption of 7.875% Notes	—			(222,117		)	—			—			—			(222,117		)
Repayments of the 2013 ABL Term Loan	—			(4,875		)	—			—			—			(4,875		)
Borrowings under the 2015 ABL	—			16,000			—			—			—			16,000
Repayments of the 2015 ABL	—			(10,000		)	—			—			—			(10,000		)
Repayments of long-term debt and capital lease obligations	—			—			(1,799		)	(93		)	—			(1,892		)
Payments for debt modification and issuance costs	—			(2,623		)	—			—			—			(2,623		)
Payment of stock-based compensation	(36,588		)	—			—			—			—			(36,588		)
Payment of dividend to related party	(45,374		)	—			—			—			—			(45,374		)
Proceeds from sale of common stock	154,836			—			—			—			—			154,836
Proceeds from capital contributions	108,046			—			—			—			—			108,046
Financing activity with subsidiaries	—			(1,975		)	5,095			1,975			(5,095		)	—
Financing cash flow	272,998			(225,590		)	3,296			1,882			(5,095		)	47,491
Increase (decrease) in cash and equivalents	17,581			(9,593		)	306			(855		)	—			7,439
Cash and equivalents, beginning of period	—			13,707			—			34,453			—			48,160
Cash and equivalents, end of period	$	17,581		$	4,114		$	306		$	33,598		$	—		$	55,599



Chiquita Brands International, Inc.
Condensed Consolidating Statement of Cash Flows (Unaudited)
Quarter ended March 31, 2014
(in thousands)
	CBII		CBLLC			Guarantor			Non-Guarantor			Consolidating				Company
	(Co-Issuer)		(Co-Issuer)			Subsidiaries			Subsidiaries			Eliminations				Consolidated
Cash provided (used) by:
Operating cash flow	$	—	$	(2,459	)	$	(889	)	$	(4,670	)	$	—		—	$	(8,018	)

Capital expenditures	—		(1,067		)	(2,244		)	(7,374		)	—				(10,685		)
Investing activity with subsidiaries¹	—		(5,750		)	(2,600		)	—			8,350				—
Other, net	—		—			44			(2,763		)	—				(2,719		)
Investing cash flow	—		(6,817		)	(4,800		)	(10,137		)	8,350				(13,404		)

Redemption of 7.875% Notes	—		(10,000		)	—			—			—				(10,000		)
Borrowings under the 2013 ABL Revolver	—		20,000			—			—			—				20,000
Repayments of the 2013 ABL Revolver	—		(15,000		)	—			—			—				(15,000		)
Repayments of the 2013 ABL Term Loan	—		(375		)	—			—			—				(375		)
Repayments of long-term debt and capital lease obligations	—		—			(61		)	(15		)	—				(76		)
Payments for debt modification and issuance costs	—		(20		)	—			—			—				(20		)
Payments of debt extinguishment costs	—		(300		)	—			—			—				(300		)
Financing activity with subsidiaries¹	—		—			5,750			2,600			(8,350		)		—
Financing cash flow	—		(5,695		)	5,689			2,585			(8,350		)		(5,771		)
Increase (decrease) in cash and equivalents	—		(14,971		)	—			(12,222		)	—				(27,193		)
Cash and equivalents, beginning of period	—		15,851			—			38,166			—				54,017
Cash and equivalents, end of period	$	—	$	880		$	—		$	25,944		$	—			$	26,824

¹As previously disclosed in our second quarter of 2014 Form 10-Q, $3 million of investing and financing activity between the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries during the first quarter of 2014 has been corrected and is reflected in this condensed consolidating statement of cash flows for the three months ended March 31, 2014.