darlingingredientsearnin

EXHIBIT – 99.2 Randall C. Stuewe, Chairman and CEO Brad Phillips, EVP Chief Financial Officer Melissa A. Gaither, VP IR and Global Communications

2 This presentation contains “forward-looking” statements that are subject to risks and uncertainties that could cause the actual results of Darling Ingredients Inc. (the “Company”) to differ materially from those expressed or implied in the statements. Statements that are not statements of historical facts are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “estimate,” “project,” “planned,” “contemplate,” “potential,” “possible,” “proposed,” “intend,” “believe,” “anticipate,” “expect,” “may,” “will,” “would,” “should,” “could” and similar expressions are intended to identify forward- looking statements. Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. The Company cautions readers that any such forward-looking statements it makes are not guarantees of future performance and that actual results may differ materially from anticipated results or expectations expressed in its forward-looking statements as a result of a variety of factors, including many that are beyond the Company’s control. These factors include, among others, existing and unknown future limitations on the ability of the Company's direct and indirect subsidiaries to make their cash flow available to the Company for payments on the Company's indebtedness or other purposes; global demands for bio-fuels and grain and oilseed commodities, which have exhibited volatility, and can impact the cost of feed for cattle, hogs and poultry, thus affecting available rendering feedstock and selling prices for the Company’s products; reductions in raw material volumes available to the Company due to weak margins in the meat production industry as a result of higher feed costs, reduced consumer demand or other factors, reduced volume from food service establishments, or otherwise; reduced demand for animal feed; reduced finished product prices, including a decline in fat and used cooking oil finished product prices; changes to worldwide government policies relating to renewable fuels and greenhouse gas(“GHG”) emissions that adversely affect programs like the U.S. government’s renewable fuel standard, low carbon fuel standards (“LCFS”) and tax credits for biofuels both in the Unites States and abroad; possible product recall resulting from developments relating to the discovery of unauthorized adulterations to food or food additives; the occurrence of 2009 H1N1 flu (initially known as “Swine Flu”), Highly pathogenic strains of avian influenza (collectively known as “Bird Flu”), severe acute respiratory syndrome (“SARS”), bovine spongiform encephalopathy (or "BSE"), porcine epidemic diarrhea ("PED") or other diseases associated with animal origin in the United States or elsewhere, such as the recent African Swine Fever (“ASF”) outbreak in China; unanticipated costs and/or reductions in raw material volumes related to the Company’s compliance with the existing or unforeseen new U.S. or foreign (including, without limitation, China) regulations (including new or modified animal feed, Bird Flu, SARS, PED, BSE or ASF or similar or unanticipated regulations) affecting the industries in which the Company operates or its value added products; risks associated with the DGD Joint Venture, including possible unanticipated operating disruptions and issues relating to the announced expansion project; risks and uncertainties relating to international sales and operations, including imposition of tariffs, quotas, trade barriers and other trade protections imposed by foreign countries; difficulties or a significant disruption in our information systems or failure to implement new systems and software successfully, including our ongoing enterprise resource planning project; risks relating to possible third party claims of intellectual property infringement; increased contributions to the Company’s pension and benefit plans, including multiemployer and employer-sponsored defined benefit pension plans as required by legislation, regulation or other applicable U.S. or foreign law or resulting from a U.S. mass withdrawal event; bad debt write-offs; loss of or failure to obtain necessary permits and registrations; continued or escalated conflict in the Middle East, North Korea, Ukraine or elsewhere; uncertainty regarding the likely exit of the U.K. from the European Union; and/or unfavorable export or import markets. These factors, coupled with volatile prices for natural gas and diesel fuel, climate conditions, currency exchange fluctuations, general performance of the U.S. and global economies, disturbances in world financial, credit, commodities and stock markets, and any decline in consumer confidence and discretionary spending, including the inability of consumers and companies to obtain credit due to lack of liquidity in the financial markets, among others, could cause actual results to vary materially from the forward-looking statements included in this presentation or negatively impact the Company's results of operations. Among other things, future profitability may be affected by the Company’s ability to grow its business, which faces competition from companies that may have substantially greater resources than the Company. The Company’s announced share repurchase program may be suspended or discontinued at any time and purchases of shares under the program are subject to market conditions and other factors, which are likely to change from time to time. Other risks and uncertainties regarding Darling Ingredients Inc., its business and the industries in which it operates are referenced from time to time in the Company’s filings with the Securities and Exchange Commission. Darling Ingredients Inc. is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Consolidated Earnings 3 Q1 Q2 Q3 Q4 Total Q1 Q1 2019 Overview US$ (millions) except per share price 2018 2018 2018 2018 2018 2019 Revenue $ 875.4 $ 846.6 $812.6 $853.1 $3,387.7 $ 835.1 • Global volumes up 2.7% year over year Gross Margin 197.3 193.6 164.5 185.2 740.6 188.4 • Tough winter and N. America flooding impacted Gross Margin % 22.5% 22.9% 20.2% 21.7% 21.9% 22.6% performance SG&A 86.9 78.6 67.4 76.4 309.3 85.0 SG&A Margin % 9.9% 9.3% 8.3% 9.0% 9.1% 10.2% • Q1 2018 adjusted EBITDA includes $12.6 million Restructuring and impairment charges 0.0 (15.0) 0.0 0.0 (15.0) 0.0 of blenders tax credit (BTC) and $6.1 million of FX Operating Income 31.8 21.7 18.2 23.5 95.2 24.3 impact compared to Q1 2019 Adj. EBITDA (1) 110.4 115.1 97.0 108.9 431.4 103.4 Adj. EBITDA Margin % 12.6% 13.6% 11.9% 12.8% 12.7% 12.4% • DGD produced 67.6 million gallons in Q1 2019 Interest Expense (23.1) (23.0) (20.1) (20.2) (86.4) (19.9) Debt Extinguishment costs 0.0 (23.5) 0.0 0.0 (23.5) 0.0 • Launched a refinance of the 5.375% senior U.S. notes to 5.25% - lowering interest cost and Foreign Currency (loss)/gain (1.5) (3.5) (2.1) 0.7 (6.4) (0.7) extending terms through 2027. Issued on April 3, Gain/(Loss) on Disposal of Subsidiaries 0.0 (15.5) 3.0 0.0 (12.5) 0.0 2019. Other Expense (2) (2.6) 1.2 (2.7) (3.6) (7.7) (2.6) Equity in net income/(loss) of unconsolidated 97.2 15.2 (2.8) 49.6 159.2 23.8 • SG&A reflects performance compensation subsidiaries Income Tax (Expense)/Benefit (3.7) (1.7) 1.4 (8.0) (12.0) (5.3) Net income attributable to noncontrolling Subsequent Event (0.8) (1.3) (0.9) (1.4) (4.4) (1.6) interests Net income/(loss) attributable to Darling $ 97.3 $ (30.4) $ (6.0) $ 40.6 $ 101.5 $ 18.0 • Received $17.7 million partner dividend from Diamond Green Diesel (DGD) JV in April 2019 Earnings per share (fully diluted) $ 0.58 $ (0.18) $ (0.04) $ 0.24 $ 0.60 $ 0.11 (1) Does not include Unconsolidated Subsidiaries EBITDA (2) Rounding captured in Other Expense

First Quarter 2019 Financial Summary 4 $ in millions Gross Profit and Margin % Q1 2019 Overview • Net sales - $835.1 million • Net income - $18.0 million • EPS at $0.11 per diluted share • Adjusted EBITDA - $ 103.4 million • Diamond Green Diesel JV EBITDA - $ 59.7 million (Entity without BTC) $ 29.8 million (Darling’s share) Strong Free Cash Flow Generation $ in millions Quarterly Adjusted EBITDA $140 0 $120 $25 $120 $40 $115.1 $100 $115 $116.9 $110.4 $80 $110 $108.9 $108.9 $115.1 $103.4 $108.2 $110.4 $60 $103.4 $105 $97.0 $40.7 $40 $82.5 $100 $22.4 $97.0 $19.1 $74.6 $57.6 $53.8 $20 $84.3 $95 $56.6 $0 $90 1Q 2018 2Q 2018 3Q 2018 4Q 2018 1Q 2019 1Q18 2Q18 3Q18 4Q18 1Q19 Adjusted EBITDA is a Non-U.S. GAAP Measure (See slide 17) Adjusted EBITDA Capex Free Cash Flow (Adjusted EBITDA plus DGD cash dividend after Capex) 2018 DGD cash dividend

Feed Segment 5 US$ and metric tons Q1 Q2 Q3 Q4 Total Q1 (millions) 2018 2018 2018 2018 2018 2019 Adj. EBITDA Bridge Q1-2018 to Q1-2019 (millions) Revenue $485.8 $498.8 $482.7 $485.3 $1,952.6 $495.8 100 Gross Margin 116.7 128.0 98.9 110.2 453.8 113.4 $14.5 80 $5.2 $68.5 Gross Margin % 24.0% 25.7% 20.5% 22.7% 23.2% 22.9% $66.1 $64.5 ($20.9) SG&A 48.3 43.9 39.7 44.8 176.7 48.8 60 ($1.2) ($1.6) SG&A Margin % 9.9% 8.8% 8.2% 9.2% 9.0% 9.8% 40 Operating Income 21.7 37.3 11.9 11.9 82.8 15.2 20 Adj. EBITDA (1) $68.5 $84.1 $59.2 $65.3 $277.1 $64.5 0 Raw Material Processed EBITDA Price / Volumes Cost of Other Adjusted FX EBITDA 2.12 2.13 2.17 2.18 8.60 2.18 Q1 18 Yield Sales EBITDA Impact Q1 19 (million metric tons) (1) Does not include Unconsolidated Subsidiaries EBITDA Note: Cost of Sales includes raw material costs, collection costs and factory costs. Non-GAAP Adj. EBITDA Margin Key Drivers: Feed • Global raw material volumes up approximately 3.0% over Q1 2018. • Fat pricing improved slightly; high N. American slaughter volumes and ample supply of global soybean oil and palm oil continued to put pressure on the market. • Protein pricing remained under pressure globally due to affects from African Swine Fever (AFS) and trade disruptions in China.

Food Segment 6 US$ and metric tons Q1 Q2 Q3 Q4 Total Q1 Adj. EBITDA Bridge Q1-2018 to Q1-2019 (millions) 2018 2018 2018 2018 2018 2019 (millions) 50 $46.7 ($3.5) Revenue $305.5 $276.7 $265.2 $291.7 $1,139.1 $279.2 $43.2 $0.2 40 $3.4 ($6.8) Gross Margin 56.3 51.9 54.5 58.6 221.3 65.0 $32.4 30 Gross Margin % 18.4% 18.8% 20.6% 20.1% 19.4% 23.3% $17.5 SG&A 23.9 22.2 21.8 23.6 91.5 21.9 20 SG&A Margin % 7.8% 8.0% 8.2% 8.1% 8.0% 7.8% 10 Operating Income 11.8 9.3 (1) 13.0 14.6 48.7 (1) 23.6 0 EBITDA Price / Volumes Cost of Other Adjusted FX EBITDA Adj. EBITDA $32.4 $29.7 (1) $32.7 $34.9 $129.7 (1) $43.2 Q1 18 Yield Sales EBITDA Impact Q1 19 Raw Material Processed 0.28 0.28 0.29 0.26 1.11 0.28 Note: Cost of Sales includes raw material costs, collection costs and factory costs. (million metric tons) (1) Adjusted for restructuring charges of $15.0 million for closure of Argentina collagen plant Non-GAAP Adj. EBITDA Margin Key Drivers: Food • Global collagen business showed robust earnings over Q1 2018 and sequentially led by improved margins and volume growth in new product mix changes. • CTH, our natural casings business, reported lower earnings mainly due to decreased sales volumes and compressed margins. • Edible fat refining margins remained under pressure due to lower palm oil markets year over year.

7 Fuel Segment (Does not include Diamond Green Diesel JV) US$ and metric tons Q1 Q2 Q3 Q4 Total Q1 (millions) 2018 2018 2018 2018 2018 2019 Adj. EBITDA Bridge Q1-2018 to Q1-2019 Revenue $84.1 $71.1 $64.6 $76.2 $296.0 $60.1 (millions) Gross Margin 24.2 13.7 11.1 16.5 65.5 10.0 30 Gross Margin % 28.8% 19.3% 17.1% 21.7% 22.1% 16.7% $25.6 ($10.1) ($12.6) SG&A (1.4) 0.2 (2.8) (0.8) (4.8) (0.8) 20 $5.8 $11.8 SG&A Margin % -1.7% 0.2% -4.3% -1.0% -1.6% -1.3% $3.5 $10.8 Operating Income 17.2 5.0 4.5 8.6 35.3 3.0 10 ($0.4) ($1.0) Adj. EBITDA (1) $13.0 (2) $13.6 $13.9 $17.2 $57.7 (2) $10.8 0 Raw Material Processed * EBITDA Price / Volumes Cost of 2017 Other Adjusted FX EBITDA 0.30 0.27 0.29 0.32 1.18 0.31 (million metric tons) Q1 18 Yield Sales BTC EBITDA Impact Q1 19 (1) Doe s not inc lude Dia mond Gre e n Die se l EBITDA (2 ) Re fle c ts move of $ 12 .6 million 2 0 17 re trospe c tive ble nde rs ta x c re dit from Q1 2 0 18 a pprove d in Note: Cost of Sales includes raw material costs, collection costs and factory costs. Fe brua ry 2 0 18 to tota l 2 0 17 EBITDA * Exc lude s ra w ma te ria l proc e sse d a t the DGD joint ve nture . Key Drivers: Non-GAAP Adj. EBITDA Margin Fuel 25% • Ecoson, European bioenergy business, delivered improved 21.5% 22.6% 19.1% 18.0% performance over Q1 2018. Bio-fat refining showed strong 20% 15.5% results while new earnings came from our digester in Belgium. 15% • N. American biodiesel reports steady earnings to Q1 2018 10% without the BTC. Potential additional estimated $4.0 million to EBITDA if BTC is made retroactive for first quarters of 2018 and 5% 2019 total. 0% Q1 Q2 Q3 Q4 Q1 • Rendac, European disposal rendering business, reports lower 2018 2018 2018 2018 2019 earnings with decreased livestock and slaughter volumes year Note: Moved $12.6 million of 2017 retrospective blenders tax credit from Q1 2018 approved in February over year. 2018 to total 2017 EBITDA

8 DGD – ENTITY LEVEL ➢ Construction underway for Super Diamond expansion for parallel 400 million gallon plant increasing our annual capacity to 675 million gallons of renewable diesel plus additional 50–60 million gallons of renewable naphtha gallons for the green gasoline markets ➢ Super Diamond estimated expansion costs of $1.1 billion ➢ Q1 2019 Entity EBITDA of $59.7 million or $0.84/gallon on 71.1 million gallons of sales ➢ Earnings impacted by Q1 hedge loss. Averaging Q4 2018 and Q1 2019, actual run rate is $1.24 per gallon ➢ Potential for additional $157.4 million entity EBITDA if Diamond Green Diesel (50% Joint Venture) BTC made retroactive for 2018 and another $71.1 Q1 million for first quarter 2019 (assuming BTC at US$ (millions) 2014 2015 2016 2017 2018 2019 $1.00/gallon of renewable diesel sold) EBITDA (Entity) $163.3 $177.0 $174.4 * $246.8 $187.6 $59.7 ➢ $ 17.7 million dividend received in April 2019 EBITDA (Darling's share) 81.6 88.5 87.2 * 123.4 93.8 29.8 (Darling’s partner dividend) Gallons Produced 127.3 158.8 158.1 161.3 160.3 67.6 Gallons Sold 126.2 156.6 161.0 160.4 157.4 71.1 *Includes 2017 retroactive blenders tax credit of $160.4 million that was approved in February 2018 and recorded in Q1 2018 Source: Company Financials

Balance Sheet Highlights and Debt Summary 9 Reaffirmed (US$,Balance in thousands) Sheet HighlightsJune 30, 2018 Debt Summary S&P Ratings 3/27/2019 Cash(US$, in(includes thousands) restricted cash Marchof $142) 30, 2019 (US$, in thousands) March 30, 2019 $104,262 Term Loan B - BBB- Cash (includes restricted cash of $107) $ 95,823 Amended Credit Agreement Corporate Family - BB+ Accounts receivable 371,291 Revolver & Term Loan A - BBB- Accounts receivable 371,339 Revolving Credit Facility $ 50,061 Total Inventories 370,555 U.S. Bonds - BB+ Total Inventories 339,882 Term Loan A 60,714 Net working capital 338,672 Euro Bonds - BB+ Net working capital 252,873 Term Loan B 486,259 Net property, plant and equipment Moody's Ratings Reaffirmed Net property, plant and equipment 1,691,558 3/27/2019 1,624,354 5.375% Senior Notes due 2022 495,497 Total assets 4,995,054 3.625% Senior Notes due 2026 570,618 Term Loan B - Ba1 Total assets 4,856,916 Corporate Family - Ba2 Total debtTotal debt 1,695,289 1,687,456 Other Notes and Obligations 24,307 Revolver & Term Loan A - Ba1 Total Debt: $ 1,687,456 U.S. Bonds - Ba3 Shareholders'Shareholders' equity equity $2,238,031$ 2,356,699 Euro Bonds - Ba3 Historical Leverage Ratios 2014 – Q1 2019 Leverage Ratio Credit March 30, 2019 Actual Agreement Total Debt to EBITDA: 3.25 5.50x Note: Leverage ratio calculated per bank covenant

10 Appendix – Additional Information

11 History of the Biodiesel Tax Credit Year Credit In place Passed 2004 10/22/2004 2005 all year 08/08/2005 2006 all year 2007 all year 2008 all year 10/03/2008 2009 all year 2010 Retroactive 12/17/2010 2011 all year 2012 Retroactive 01/02/2013 2013 all year 2014 Retroactive 12/19/2014 2015 Retroactive 12/18/2015 2016 all year 2/9/2018 2017 Retroactive ??? 2018/2019 Lapsed ?????

12 US$ and metric tons Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 (millions) 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2019 Revenue $552.6 $549.1 $575.5 $562.3 $2,239.5 $485.8 (1) $498.8 (1) $482.7 (1) $485.3 (1) $1,952.6 $495.8 Gross Margin 120.0 126.9 126.0 122.0 494.9 116.7 128.0 98.9 110.2 453.8 113.4 Gross Margin % 21.7% 23.1% 21.9% 21.7% 22.1% 24.0% 25.7% 20.5% 22.7% 23.2% 22.9% SG&A 44.8 42.9 44.8 45.8 178.3 48.3 43.9 39.7 44.8 176.7 48.8 SG&A Margin % 8.1% 7.8% 7.8% 8.1% 8.0% 9.9% 8.8% 8.2% 9.2% 9.0% 9.8% Operating Income 31.5 39.7 34.2 26.9 132.3 21.7 37.3 11.9 11.9 82.8 15.2 Adj. EBITDA (2) $75.2 $84.0 $81.1 $76.1 $316.5 $68.5 $84.1 $59.2 $65.3 $277.1 $64.5 Adj. EBITDA Margin % 13.6% 15.3% 14.1% 13.5% 14.1% 14.1% 16.9% 12.3% 13.5% 14.2% 13.0% Raw Material 2.05 2.02 2.04 2.13 8.24 2.12 2.13 2.17 2.18 8.60 2.18 Processed (1) Reflects freight revenue reclass and deconsolidation of BestHides (2) Does not include Unconsolidated Subsidiaries EBITDA

Feed Ingredients Segment – Net Sales 13 Change in Net Sales – Year over Year Three Months Ended March 31, 2018 over March 30, 2019 Rendering Sales Used Change in Net Sales - 1Q18 to 1Q19 Total Cooking Fats Proteins Other (1) Rendering Oil Bakery Other (2) Total Net Sales Three Months Ended March 31, 2018 $ 143.5 $ 203.4 $ 31.4 $ 378.3 $ 36.6 $ 46.8 $ 24.1 $ 485.8 Changes: Increase/(Decrease) in sales volumes 5.3 16.0 - 21.3 8.5 (2.1) - 27.7 Increase/(Decrease) in finished product prices (1.7) (7.1) - (8.8) 0.4 1.0 - (7.4) Increase/(Decrease) due to currency exchange rates (2.2) (6.5) (0.4) (9.1) (0.1) - - (9.2) Other change - - 10.2 10.2 - - (11.3) (1.1) Total Change: 1.4 2.4 9.8 13.6 8.8 (1.1) (11.3) 10.0 Net Sales Three Months Ended March 30, 2019 $ 144.9 $ 205.8 $ 41.2 $ 391.9 $ 45.4 $ 45.7 $ 12.8 $ 495.8 (1) Rendering Net Sales- Other category includes hides, pet food, and service charges (2) Other Net Sales category includes trap services and industrial residual services through May 21, 2018 (Sale of TRS)

Jacobsen, Wall Street Journal and Thomson Reuters 14 Historical Pricing QTR. Over QTR. Year Over Year 2019 Finished Product Pricing 2019 Average Jacobsen Prices (USD) Comparison Q4-2018 Q1-2019 % Q1-2018 Q1-2019 % Feed Segment Ingredients January February March Q1 Avg. April Bleachable Fancy Tallow - Chicago Renderer / cwt $27.00 $27.00 $27.00 $27.00 $28.55 Average Jacobsen Prices (USD) Avg. Avg. Change Avg. Avg. Change Yellow Grease - Illinois / cwt $20.89 $20.84 $20.48 $20.72 $21.22 Bleachable Fancy Tallow - Chicago Renderer / cwt $25.80 $27.00 4.7% $26.14 $27.00 3.3% Meat and Bone Meal - Ruminant - Illinois / ton $250.00 $250.00 $250.00 $250.00 $249.52 Yellow Grease - Illinois / cwt $19.91 $20.72 4.1% $19.61 $20.72 5.7% Poultry By-Product Meal - Feed Grade - Mid South/ton $267.86 $270.00 $270.00 $269.26 $245.95 Meat and Bone Meal - Ruminant - Illinois / ton $250.18 $250.00 -0.1% $250.61 $250.00 -0.2% Poultry By-Product Meal - Pet Food - Mid South/ton $657.14 $712.24 $686.79 $684.51 $637.50 Poultry By-Product Meal - Feed Grade - Mid South / ton $267.19 $269.26 0.8% $250.16 $269.26 7.6% Feathermeal - Mid South / ton $457.02 $458.29 $429.17 $447.83 $364.17 Poultry By-Product Meal - Pet Food - Mid South / ton $540.68 $684.51 26.6% $781.27 $684.51 -12.4% 2019 Cash Corn Pricing 2019 Average Wall Street Journal Prices (USD) Feathermeal - Mid South / ton $405.90 $447.83 10.3% $409.26 $447.83 9.4% Competing Ingredient for Bakery Feeds and Fats January February March Q1 Avg. April Average Wall Street Journal Prices (USD) Corn - Track Central IL #2 Yellow / bushel $3.54 $3.51 $3.41 $3.49 $3.37 Corn - Track Central IL #2 Yellow / bushel $3.37 $3.49 3.6% $3.41 $3.49 2.3% 2019 European Benchmark Pricing 2019 Average Thomson Reuters Prices (USD) Average Thomson Reuters Prices (USD) Palm Oil - Competing ingredient for edible fats in Food Segment Soy meal - Competing ingredient for protein meals in Feed Segment January February March Q1 Avg. April Palm oil - CIF Rotterdam / metric ton $497 $550 10.7% $675 $550 -18.5% Palm oil - CIF Rotterdam / metric ton $555 $562 $532 $550 $535 Soy meal - CIF Rotterdam / metric ton $368 $353 -1.5% $412 $353 -14.3% Soy meal - CIF Rotterdam / metric ton $361 $353 $345 $353 $341 2018 Finished Product Pricing 2018 Average Jacobsen Prices (USD) Feed Segment Ingredients January February March Q1 Avg. April May June Q2 Avg. July August Sept. Q3 Avg. Oct. Nov. Dec. Q4 Avg. Year Avg. Bleachable Fancy Tallow - Chicago Renderer / cwt $26.60 $25.57 $26.20 $26.14 $25.31 $24.80 $27.11 $25.72 $28.64 $28.39 $25.82 $27.70 $24.33 $26.29 $27.00 $25.80 $26.34 Yellow Grease - Illinois / cwt $20.25 $19.58 $19.00 $19.61 $19.00 $20.94 $22.05 $20.69 $22.38 $22.52 $21.53 $22.19 $19.52 $19.78 $20.43 $19.91 $20.60 Meat and Bone Meal - Ruminant - Illinois / ton $222.50 $235.26 $292.62 $250.61 $312.02 $297.16 $291.67 $301.43 $280.00 $263.26 $250.00 $264.77 $250.00 $250.00 $250.00 $250.18 $266.75 Poultry By-Product Meal - Feed Grade - Mid South/ton $235.00 $240.92 $273.69 $250.16 $295.00 $286.02 $273.10 $285.56 $262.86 $271.74 $269.61 $268.13 $267.61 $270.00 $263.68 $267.19 $267.76 Poultry By-Product Meal - Pet Food - Mid South/ton $700.24 $793.42 $851.31 $781.27 $860.95 $747.73 $597.62 $734.53 $557.14 $557.61 $557.89 $556.48 $504.89 $519.38 $551.32 $540.68 $649.17 Feathermeal - Mid South / ton $362.86 $389.87 $473.21 $409.26 $536.19 $542.95 $532.86 $540.50 $520.00 $453.59 $380.53 $453.58 $384.67 $409.00 $426.71 $405.90 $452.31 2018 Cash Corn Pricing 2018 Average Wall Street Journal Prices (USD) Competing Ingredient for Bakery Feeds and Fats January February March Q1 Avg. April May June Q2 Avg. July August Sept. Q3 Avg. Oct. Nov. Dec. Q4 Avg. Year Avg. Corn - Track Central IL #2 Yellow / bushel $3.28 $3.42 $3.53 $3.41 $3.54 $3.74 $3.39 $3.56 $3.23 $3.25 $3.11 $3.20 $3.28 $3.34 $3.48 $3.37 $3.39 2018 European Benchmark Pricing 2018 Average Thomson Reuters Prices (USD) Palm Oil - Competing ingredient for edible fats in Food Segment Soy meal - Competing ingredient for protein meals in Feed Segment January February March Q1 Avg. April May June Q2 Avg. July August Sept. Q3 Avg. Oct. Nov. Dec. Q4 Avg. Year Avg. Palm oil - CIF Rotterdam / metric ton $676 $668 $681 $675 $664 $656 $632 $651 $589 $560 $549 $566 $530 $475 $487 $497 $597.00 Soy meal - CIF Rotterdam / metric ton $375 $417 $445 $412 $460 $461 $423 $448 $407 $390 $377 $391 $379 $367 $359 $368 $405.00

Food Segment - Historical 15 US$ and metric tons Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 (millions) 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2019 Revenue (1) $266.2 $278.4 $298.9 $313.5 $1,157.0 $305.5 (2) $276.7 (2) $265.2 (2) $291.7 (2) $1,139.1 $279.2 (2) Gross Margin 56.8 56.0 60.2 63.6 236.6 56.3 51.9 54.5 58.6 221.3 65.0 Gross Margin % 21.3% 20.1% 20.1% 20.3% 20.4% 18.4% 18.8% 20.6% 20.1% 19.4% 23.3% SG&A 25.0 26.7 25.5 27.4 104.6 23.9 22.2 21.8 23.6 91.5 21.9 SG&A Margin % 9.4% 9.6% 8.5% 8.7% 9.0% 7.8% 8.0% 8.2% 8.1% 8.0% 7.8% Operating Income 14.3 11.1 15.1 16.4 56.9 11.8 9.3 (3) 13.0 (3) 14.6 (3) 48.7 23.6 Adj. EBITDA $31.9 $29.3 $34.6 $36.1 $131.9 $32.4 $29.7 (3) $32.7 (3) $34.9 (3) $129.7 $43.2 Adj. EBITDA Margin % 12.0% 10.5% 11.6% 11.5% 11.4% 10.6% 10.7% 12.3% 12.0% 11.4% 15.5% Raw Material Processed 0.27 0.28 0.29 0.28 1.12 0.28 0.28 0.29 0.26 1.11 0.28 (millions of metric tons) (1) Revenue adjusted for Brazil VAT reclass 2017 (2) Reflects freight revenue reclass (3) Adjusted for restructuring and impairment charges of $15.0 million for closure of Argentina collagen plant

Fuel Segment - Historical 16 US$ and metric tons Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 (millions) 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2019 Revenue $59.7 $67.4 $61.9 $76.8 $265.8 $84.1 $71.1 $64.6 $76.2 $296.0 $60.1 Gross Margin 13.7 12.7 7.6 21.4 55.4 24.2 13.7 11.1 16.5 65.5 10.0 Gross Margin % 22.9% 18.8% 12.3% 27.9% 20.8% 28.8% 19.3% 17.1% 21.7% 22.1% 16.7% SG&A 3.3 2.9 (0.5) 4.7 10.4 (1.4) 0.2 (2.8) (0.8) -4.8 (0.8) SG&A Margin % 5.5% 4.3% -0.8% 6.1% 3.9% -1.7% 0.2% -4.3% -1.7% -1.6% -1.3% Operating Income 3.6 2.1 0.2 8.1 14.0 17.2 5.0 4.5 8.6 35.3 3.0 Adj. EBITDA $10.4 $9.9 $8.1 $16.6 $45.0 $25.6 (1) $13.6 $13.9 $17.2 $70.3 $10.8 Adj. EBITDA Margin % 17.4% 14.7% 13.1% 21.6% 16.9% 30.4% 19.1% 21.5% 22.6% 23.8% 18.0% Pro forma Adjusted EBITDA (2) $13.2 $13.1 $11.2 $20.1 $57.6 $14.9 $16.2 $16.2 $19.1 $66.4 $12.1 Raw Material Processed * 0.30 0.29 0.28 0.32 1.19 0.30 0.27 0.29 0.32 1.18 0.31 (millions of metric tons) *Excludes raw material processed at the DGD joint venture. Diamond Green Diesel (50% Joint Venture) Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 US$ (millions) 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2019 EBITDA (Entity) - in quarter recorded $10.0 $24.8 $21.2 $30.4 $86.4 $200.1 $36.3 $1.0 $110.6 $348.0 $59.7 EBITDA (Darling's share) 5.0 12.4 10.6 15.2 43.2 100.1 18.2 0.5 55.3 174.0 29.8 Pro forma Adjusted EBITDA (2) (Darling's share) 21.4 32.7 32.1 37.3 123.5 36.6 35.6 12.0 88.3 172.5 65.4 Total Gallons Produced 32.6 43.7 41.7 43.3 161.3 37.1 33.2 17.2 72.8 160.3 67.6 Total Gallons Sold/Shipped 32.7 40.5 43.0 44.3 160.4 33.4 34.8 23.1 66.1 157.4 71.1 (1) Q1 2018 Adj. EBITDA contains $12.6 M retroactive 2017 blenders tax credit approved in February 2018 (2) Pro forma Adjusted EBITDA assumes blenders tax credit was received during quarters earned in 2017, 2018 and 2019

17 Adjusted EBITDA is not a recognized accounting measurement under GAAP; it should not be considered as an alternative to net income, as a measure of operating results, or as an alternative to cash flow as a measure of liquidity, and is not intended to be a presentation in accordance with GAAP. Adjusted EBITDA is presented here not as an alternative to net income, but rather as a measure of the Company’s operating performance. Since EBITDA (generally, net income plus interest expenses, taxes, depreciation and amortization) is not calculated identically by all companies, this presentation may not be comparable to EBITDA or Adjusted EBITDA presentations disclosed by other companies. Adjusted EBITDA is calculated in this presentation and represents, for any relevant period, net income/(loss) plus depreciation and amortization, goodwill and long-lived asset impairment, interest expense, (income)/loss from discontinued operations, net of tax, income tax provision, other income/(expense) and equity in net loss of unconsolidated subsidiary. Management believes that Adjusted EBITDA is useful in evaluating the Company’s operating performance compared to that of other companies in its industry because the calculation of Adjusted EBITDA generally eliminates the effects of financing, income taxes and certain non-cash and other items that may vary for different companies for reasons unrelated to overall operating performance. As a result, the Company’s management uses Adjusted EBITDA as a measure to evaluate performance and for other discretionary purposes. In addition to the foregoing, management also uses or will use Adjusted EBITDA to measure compliance with certain financial covenants under the Company’s Senior Secured Credit Facilities and 5.375% Notes and 3.25% Notes that were outstanding at March 30, 2019. However, the amounts shown in this presentation for Adjusted EBITDA differ from the amounts calculated under similarly titled definitions in the Company’s Senior Secured Credit Facilities and 5.375% Notes and 3.25% Notes, as those definitions permit further adjustments to reflect certain other non-recurring costs, non-cash charges and cash dividends from the DGD Joint Venture. Additionally, the Company evaluates the impact of foreign exchange impact on operating cash flow, which is defined as segment operating income (loss) plus depreciation and amortization.

Adjusted EBITDA 18 Adjusted EBITDA and Pro Forma Adjusted EBITDA Three Months Ended - Year over Year (US$ in thousands) March 30, March 31, 2019 2018 Net income/(loss) attributable to Darling $ 18,012 $ 97,305 Depreciation and amortization 79,164 78,619 Interest expense 19,876 23,124 Income tax expense/(benefit) 5,274 3,712 Foreign currency loss 732 1,481 Other expense, net 2,525 2,516 Equity in net (income)/loss of unconsolidated subsidiaries (23,773) (97,154) Net income attributable to noncontrolling interests 1,628 770 Adjusted EBITDA $ 103,438 $ 110,373 Foreign currency exchange impact 6,056 - Pro forma Adjusted EBITDA to Foreign Currency (Non-GAAP) $ 109,494 $ 110,373 DGD Joint Venture Adjusted EBITDA (Darling's Share) $ 29,828 $ 100,071 (1) The average rates assumption used in this calculation was the actual fiscal average rate for the three months ended March 30, 2019 of €1.00:USD$1.14 and CAD$1.00:USD$0.75 as compared to the average rate for the three months ended March 31, 2018 of €1.00:USD $1.23 and CAD$1.00:USD$0.80, respectively. Note: See slide 17 for information regarding Darling’s use of Non-GAAP measures.

19 Citi 2019 Global Energy and Utilities Conference May 14, 2019 Intercontinental Hotel – Boston, MA BMO Farm to Market Conference May 15, 2019 Grand Hyatt – New York, NY Roth International Conference June 18, 2019 Dorchester Hotel – London, UK