Slide 1: Q3 2025 Earnings Results
A U G U S T 5 , 2 0 2 5 Q3 2025 Earnings Results
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current expectations as to future events based on certain assumptions and include any statement that does not di
Slide 3: Overview
Overview 1 2 3 4 Q3 Fiscal 2025 Segment Revenue Integrating AI Fiscal 2025 Highlights and AOI Update Across Operations Outlook Q3 2025 Earnings Results 3
Slide 4: Summary of Q3 Fiscal 2025 Highlights
Summary of Q3 Fiscal 2025 Highlights • Record revenue for any quarter in Global FSS history 0 Revenue +6% • Strong base business volume, new business wins, and unprecedented retention levels Organic Revenue +5% • Final quarter where revenue in the prior year included portfolio exits in Facilities 0
Slide 5: Revenue Growth Across Segments
Revenue Growth Across Segments Aramark $4,376 $4,626 ($21) $4,606 +6%* * Results were driven by growth in both net new business and base GAAP Growth Aramark business. Growth in revenue more than offset the prior year portfolio exits in Facilities and fewer events at arenas, primarily from the timing
Slide 6: Adjusted Operating Income and Margin Expansion
Adjusted Operating Income and Margin Expansion Aramark +60bps AOI Margin Aramark +19% $230 $193 • Profitability growth and margin expansion were due to higher revenue levels, expanded supply chain capabilities, and disciplined above-unit cost management. Q3 2024 Q3 2025 FSS United States FSS Interna
Slide 7: Growth Drivers Across Business Segments
Growth Drivers Across Business Segments • Collegiate Hospitality benefitted from meal plan optimization, leading to increased participation rates, as well as additional operating days in Q3 from calendar shift; Enhanced cross lines of business opportunities with Sports & Entertainment in E D U C AT
Slide 8: Year-to-Date FY25 Retention Rate vs Historical Annual Retention Rates
Year-to-Date FY25 Retention Rate vs Historical Annual Retention Rates Aramark Retention >97% 2 95.8% 95.6% 95.5% 95.2% 1 93.2% FY21 FY22 FY23 FY24 Year-to-Date FY25 1Overall retention rate reflects exiting some lower margin Facilities services accounts 2Core Foodservice business in both U.S. and Int
Slide 9: Integrating AI Across Operations
Integrating AI Across Operations Aramark is continuing it’s AI expansion into smarter menus, client engagement and support, and stronger margins Culinary Co-Pilot Dynamic Labor Optimization Results Leveraging generative AI to optimize the Robust decision-making systems provide Productive labor hours
Slide 10: Fiscal 2025 Outlook
Fiscal 2025 Outlook The Company continues to anticipate its full-year performance for fiscal 2025 as reflected below, based on the expected timing of commencing operations from new business, including certain large clients. ($ in millions, except EPS) FY24 FY25* Reference Point Year-Over-Year Growth
Slide 11: Q3 2025 Earnings Results
Q3 2025 Earnings Results
Slide 12: Appendix
Appendix Q3 2025 Earnings Results
Slide 13: Modeling Assumptions
Modeling Assumptions FY25 Modeling Assumptions* Seasonality • Net Interest Expense: ~$330M (~$325M 52-week year) • AOI Margin - “U-shaped” cadence driven primarily by higher profitability in Q1 and • Adjusted Tax Rate: ~26% Q4 related to seasonal peak activity in • Share Count: ~271M Education secto
Slide 14: Revenue by Segment
Revenue by Segment Three Months Ended Q1 2025 Three Months Ended Q2 2025 Three Months Ended Q3 2025 Nine Months Ended YTD 2025 12/27/2024 12/29/2023 Change % 3/28/2025 3/29/2024 Change % 6/27/2025 6/28/2024 Change % 6/27/2025 6/28/2024 Change % Revenue (as reported) FSS United States: Business & Ind
Slide 15: CapEx and Client Payments
CapEx and Client Payments Q3 2025 Earnings Results 15
Slide 16: Quarterly Cadence of Free Cash Flow
Quarterly Cadence of Free Cash Flow Q1 Q2 Q3 Q4 FY $141 FY25 $(34) • Free Cash Flow – Q1 and Q4 typically experience a large outflow and inflow, respectively, due to the seasonal cadence of the Collegiate Hospitality, Sports & Entertainment and Destination businesses $(705) • Third quarter free cash
Slide 17: Non-GAAP Schedules
Non-GAAP Schedules Q3 2025 Earnings Results
Slide 18: Selected Operational and Financial Metrics
Selected Operational and Financial Metrics Adjusted Revenue (Organic) Adjusted Revenue (Organic) represents revenue adjusted to eliminate the impact of currency translation. Adjusted Operating Income Adjusted Operating Income represents operating income adjusted to eliminate the impact of amortizati
Slide 19: Selected Operational and Financial Metrics (continued)
Selected Operational and Financial Metrics (continued) Covenant Adjusted EBITDA Covenant Adjusted EBITDA represents net income from continuing operations attributable to Aramark stockholders adjusted for interest expense, net; provision for income taxes; depreciation and amortization and certain oth
Slide 20: Revenue, AOI and AOI Margin QTD
Revenue, AOI and AOI Margin QTD Q3 2025 Earnings Results 20
Slide 21: Revenue, AOI and AOI Margin YTD
Revenue, AOI and AOI Margin YTD Q3 2025 Earnings Results 21
Slide 22: Adjusted EPS
Adjusted EPS ARAMARK AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES ADJUSTED NET INCOME & ADJUSTED EARNINGS PER SHARE (Unaudited) (In thousands, except per share amounts) Three Months Ended Nine Months Ended June 27, 2025 June 28, 2024 June 27, 2025 June 28, 2024 Net Income Attributable to Ara
Slide 23: Free Cash Flow
Free Cash Flow Q3 2025 Earnings Results 23
Slide 24: Q3 2025 Earnings Results
Q3 2025 Earnings Results