NATIONAL BEVERAGE CORP. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY NATIONAL BEVERAGE CORP. CONSOLIDATED STATEMENTS OF INCOME Fiscal Year Ended Fiscal Year Ended (n thousands) May 2, 2020 Shares Amount April 27, 2019 Shares Amount April 28, 2018 Shares Amount (In thousands, except per share amounts) Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Other income, net Income before income taxes Provision for income taxes May 2, 2020 April 27, 2019 April 28, 2018 SERIES C PREFERRED STOCK Beginning and end of year 150 $ 150 150 $ 150 150 $ 150 $ 1,000,394 $ 1,014,105 $ 975,734 COMMON STOCK Beginning of year 50,678 630,254 629,755 584,599 Stock options exercised 125 370,140 384,350 391,135 End of year 50,803 507 50,651 1 508 507 27 50,616 35 506 1 50,678 507 50,651 507 204,394 204,415 186,947 ADDITIONAL PAID-IN CAPITAL 165,746 179,935 204,188 Beginning of year (3,709) (3,942) (1,301) Stock options exercised Stock-based compensation 169,455 183,877 205,489 39,483 43,024 55,715 End of year RETAINED EARNINGS 37,065 740 36,358 456 35,638 559 125 251 161 37,930 37,065 36,358 Net income S 129,972 $ 140,853 $ 149,774 Beginning of year 313,430 307,824 227,928 Net income 129,972 140,853 149,774 Earnings per common share: Common stock cash dividend (135,247) (69,878) Basic $ 2.79 $ 3.02 $ Diluted $ 2.78 $ 3.00 $ 3.21 3.19 End of year 443,402 313,430 307,824 ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Beginning of year (1,543) 4,601 (604) Weighted average common shares outstanding: Cash flow hedges (3,673) (6,318) 5,227 Basic 46,628 46,633 Diluted 46,828 46,917 46,598 46,921 Other (204) 174 (22) End of year (5,420) (1,543) 4,601 TREASURY STOCK-SERIES C PREFERRED Beginning and end of year 150 (5,100) 150 (5,100) 150 (5,100) TREASURY STOCK-COMMON Beginning of year Repurchase of common stock 4,033 (12,900) 4,033 (12,900) 4,033 154 (6,233) (12,900) End of year 4,187 (19,133) 4,033 (12,900) 4,033 (12,900) TOTAL SHAREHOLDERS' EQUITY $ 452,337 $331,609 $331,440