The $100B Dog · Growth · Exhibit G-1

Up and to the Right

U.S. pet-economy spending — a generation of compounding, roughly doubling every decade, with the trajectory still climbing.

$188.8B

U.S. pet spending, 2024 (BEA)

~5×

Growth since 2000

$261B

Projected by 2030 (Morgan Stanley)

$100B

$40B

$57B

$76B

$99B

$135B

$188.8B

$261B

2000

2005

2010

2015

2020

2024

2030Projection

Reading the exhibit. The solid columns are federal actuals — U.S. consumer spending on pets has climbed from ~$40B in 2000 to $188.8B in 2024, roughly doubling every decade and crossing the $100B line in 2016. The gold column is forward: Morgan Stanley projects ~$261B by 2030. Different markets argue over their direction; this one only argues over how steep.

Actuals (2000–2024): U.S. Bureau of Economic Analysis, Personal consumption expenditures — Pets, pet products & related services [DPETRC1A027NBEA], via FRED. Nominal dollars, not inflation-adjusted. 2030 figure: Morgan Stanley Research, Pet Care Industry Outlook (~$261B by 2030) — a pet-care industry-basis projection shown for forward direction and not directly comparable to the BEA consumption series. Cited by name; not an endorsement. Informational only — not an offer or solicitation. Entity, jurisdictional, and exemption-specific legends to be finalized by securities counsel prior to external distribution.