Where Food Comes From, Inc. 8-K

Exhibit 99.2

2013 Year-End Conference Call Script

Call date: Tuesday, March 4, 2014

Call time: 10:00 a.m. Mountain Time

Jay Pfeiffer

Good morning and welcome to the Where Food Comes From 2013 year-end conference call.

During the course of this call, we will be making forward-looking statements based on current expectations, estimates and projections that are subject to risk. Specifically, our statements about future revenue, expenses, profitability, cash, growth strategy, market acceptance of the Company’s products and services, and potential acquisitions are forward looking statements. Listeners should not place undue reliance on these statements. There are many factors that could cause actual results to differ materially from our forward-looking statements. We encourage you to review our publicly filed documents as well as our news releases and website for more information about the Company. At present it is the Company’s policy not to provide specific guidance with respect to future revenue and earnings expectations or new customer wins.

I will now turn the call over to John Saunders, chairman and chief executive officer.

John Saunders

Thank you, Jay.

Good morning, everyone, and thanks for joining us today.

2013 was an eventful and successful year for Where Food Comes From.

We continued to execute on our M&A strategy, closing one acquisition and one strategic partnership that combined to add approximately 4,000 new customers for us – a big increase in our customer base in 2013. Our September acquisition of the auditing business of Validus – one of our primary competitors – has been a great success for us by any measure. Validus is the US leader in independent certification of socially responsible production practices covering pork, poultry and dairy. They are ISO 9001: 2008 certified with more than 10 years of on-farm auditing of animal welfare, environmental, security and worker care production practices. They are a third-party verifier for the National Milk Producers Federation’s National Dairy FARM Animal Care program, and an auditor for the United Egg Producers’ 5 Star Food Safety Program. In short, in addition to bringing 3,000 new customers to Where Food Comes From, Validus overnight added a whole new dimension to our business. As a bonus, our two organizations and leadership teams have proven to be an ideal fit culturally and philosophically, which is always a plus during the integration process – which has gone very smoothly.

One more quick point while I’m discussing Validus. Some of you who follow our industry carefully may have read about the USDA’s decision in Q1 of this year to discourage on-farm pork audits as a means of minimizing the spread of the Porcine Epidemic Diarrhea Virus that’s making the rounds today in the industry. This virus thrives in cold weather. As a result, Validus is having to push the majority of its pork audits out of the first half of 2014 and into the second half. This, in turn, will impact Validus’ revenue early in 2014.

Returning to the subject of M&A. In October we closed on a joint marketing agreement with MicroBeef Technologies under which we assumed management of Micro’s process verification program covering audits

for approximately 1,000 new customers, including ranchers, feed yards and backgrounders. Our agreement also calls for our two companies to collaborate on new solutions for the beef industry.

I want to note that our M&A transactions – including the ICS purchase in 2012 – have been paid for using only cash on hand. At the same time, we’ve continued to generate cash from operations and maintain a strong balance sheet.

Where Food Comes From reported solid year-over-year revenue increases for both the fourth quarter and full year. In Q4 revenue grew by 39% to $1.8 million from $1.3 million in the same quarter last year. That included a 48% increase in verification revenue – to $1.6 million from $1.1 million. For 2013 revenue increased by 5% to $5.5 million from $5.3 million. Again, verification revenue growth led the way with $4.7 million, up 8% from $4.3 million a year ago.

Our growth was attributable to M&A activity along with increasing demand for our Non-Hormone Treated Cattle and Verified Natural Beef programs, and we’re also seeing higher demand for source verifications in domestic markets. All of these activities combined to more than offset the loss of Japanese source and age revenue that began in the fourth quarter of 2012 and continued on throughout 2013. As a result of Japan easing its beef import regulations, we experienced roughly a 65% decline in this segment of our business in 2013. And by the way, we think that by the end of Q1 of 2014 – the current quarter we’re in – we will have incurred the full impact of the Japanese change in market dynamics. The good news is – our ability to overcome this amount of lost revenue underscores the resiliency of our business model, which relies on diversification of our solutions mix and the addition of new customers through a combination of internal solutions development and acquisition of complementary solutions.

The Japan situation and our M&A activities had the effect – temporary, we believe – of depressing our profitability in 2013. Although I have spoken often about our commitment to operating on a profitable basis, we believe M&A gives us the best opportunity to generate consistent profitability over the long term. Consequently, we think trading some short-term profitability for fairly dramatic increases in marketshare is good business. And besides, if we aren’t buying these companies and capturing their customers and revenue streams, we believe someone else will. I’ll also reiterate that we continue to generate positive cash flows.

Now a few comments on our labeling program. Revenue was up slightly for Q4 and the full year but we did not add any new customers for the program this year and contribution to overall revenue remains modest. As previously discussed, the sales cycle is long and laborious and the reality is that many of the retailers we are speaking to – although very intrigued – have not yet embraced the urgency that we think they ultimately will as consumer demand for transparency in the food chain continues to gain momentum. On a positive note, our flagship grocery customer – Heinen’s Fine Foods, now with 19 stores in Ohio and Illinois – continues to expand their labeling initiative and show a deep, long-term commitment to the program. In November Heinen’s announced it expanded Where Food Comes From labeling beyond beef to now include lamb and chicken products.

I mentioned earlier our big increase in customers during 2013. While that is indeed a solid accomplishment for us, we also believe we’re just scratching the surface of our potential to rapidly expand our verification services over the next few years. Right now we see three primary drivers for this growth. One, obviously is consumer pull through. Every day we read more about consumer demand for transparency. Two, a food related event of some kind that causes a sea change in government regulation of food producers. And three, the USDA’s Animal Disease Traceability (ADT) program that, in theory at least, applies to upwards of 800,000 beef producers nationwide. 800,000 is a big number compared to our current customer base of about 10,000. Where Food Comes From now audits in the beef, poultry, lamb, eggs, dairy spaces – to more than 20 standards that include source and age, humane handling, natural, organic, gluten free and others. We have the largest solutions offering in the industry. We have a technology-based platform capable of scaling rapidly to meet a

surge in demand. In short, we believe we are increasingly setting ourselves apart as the obvious choice for producers who are considering – or may soon be forced to subscribe to – verification services.

I’ll close with a quick comment on our news release of February 28th detailing our acquisition of the Merck Animal Health verification business. This transaction was interesting for a couple reasons. First, of course, is the addition of new customers and revenue streams. But we’re also gratified that a company of Merck’s stature entrusted their customers to us – a testament to the solid reputation for excellent customer service that our IMI Global auditing unit has established in the industry. Also interesting is the fact that we are adding a large number of dairy customers – further strengthening our foothold in that important niche, where a portion of newborn calves are already subject to the USDA’s ADT program.

As always, we at Where Food Comes From appreciate your time and attention on the call today. And also for your support of our efforts to build a sustainable business model capable of building value for its stockholders for many years to come.

Operator, I’ll now open the call to questions….

Summary of Question and Answer session:

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Closing remarks from John Saunders.

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