Bellring Brands, Inc. · NYSE:BRBR

Bellring Brands — Q2 2026 Earnings Presentation

20 slides from Bellring Brands's earnings presentation, May 5, 2026

  1. Slide 1: Second Quarter Fiscal Year 2026 Supplemental Presentation

    Second Quarter Fiscal Year 2026 Supplemental Presentation May 5, 2026 Investor Presentation November 2022

  2. Slide 2: Cautionary Statement Regarding Forward-Looking Statements

    Cautionary Statement Regarding Forward-Looking Statements Certain matters discussed in this presentation and the accompanying oral presentation are • significant volatility in the cost or availability of inputs to BellRing’s business (including freight, forward-looking statements within the meaning

  3. Slide 3: Cautionary Statement Regarding Forward-Looking Statements (Cont’d)

    Cautionary Statement Regarding Forward-Looking Statements (Cont’d) (CONTINUED FROM PRIOR PAGE): • significant differences in BellRing’s actual operating results from any guidance BellRing may give regarding its performance; and • risks related to BellRing’s ongoing relationship with Post Holdings, I

  4. Slide 4: Additional Information

    Additional Information Market and Industry Data Prospective Information This presentation includes industry and trade association data, forecasts and information Any prospective information provided in this presentation regarding BellRing’s future that were prepared based, in part, upon data, foreca

  5. Slide 5: Q2 FY2026 Consumption and Key Metrics Executive Summary

    Q2 FY2026 Consumption and Key Metrics Executive Summary ● The wellness category showed continued growth (+7%)1, with ready-to-drink (“RTD”) growth (+8%)1 and ready-to-mix (“RTM”) growth was healthy. o The RTD category saw an increase in promotional frequency and depth, with a meaningful step up in c

  6. Slide 6: Ready-to-Drink and Ready-to-Mix Category Growth Remained Healthy

    Ready-to-Drink and Ready-to-Mix Category Growth Remained Healthy 30.0% 25.0% 20.0% YOY % Δ 15.0% 10.0% 5.0% 0.0% 4WE 02-02-25 4WE 03-30-25 4WE 05-25-25 4WE 03-02-25 4WE 04-27-25 4WE 06-22-25 4WE 07-20-25 4WE 08-17-25 4WE 09-14-25 4WE 10-12-25 4WE 11-09-25 4WE 12-07-25 4WE 01-04-26 4WE 02-01-26 4WE 0

  7. Slide 7: Premier Protein RTD Shake Growth in Food, Mass and eCommerce Partly Offset Club Headwinds

    Premier Protein RTD Shake Growth in Food, Mass and eCommerce Partly Offset Club Headwinds Premier Protein RTD Shakes $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Club -7.3% +2.3% Mass +17.6% +12.9% Food +16.3% +23.6% eCommerce +17.2% +19.4% Total Consumption (tracked + untracked channels) +2.9%

  8. Slide 8: Premier Protein RTD Shakes Posted its Highest Consumption Quarter in Q2 FY2026

    Premier Protein RTD Shakes Posted its Highest Consumption Quarter in Q2 FY2026 Driven by Strategic Promotions Premier Protein RTD Shakes Rolling 13 week Total $ Consumption Sales Major Club Promotions Major Promotions $ Volume Feb 2'25 Jun 1'2025 Aug 3'25 Feb 1'26 Jun 30'24 May 31'24 Jul 28'24 Dec 2

  9. Slide 9: Shipments Slightly Exceeded Consumption in Q2 FY2026

    Shipments Slightly Exceeded Consumption in Q2 FY2026 Trade Inventory Trade Inventory Trade Inventory Trade Inventory Increase, Consumption Consumption in line Trade Inventory Slight Trade Inventory Increase, Seasonality Increase, Seasonality Increase New Item and Outpaced Shipments with Shipments In

  10. Slide 10: Premier Protein RTD Shake TDPs Reached All Time High

    Premier Protein RTD Shake TDPs Reached All Time High 2,000 80 80 76 1,800 1,623 70 1,600 1,400 60 1,200 50 % ACV TDPs 1,000 881 40 800 30 600 20 400 10 200 0 0 Total Points of Distribution ACV Weighted Distribution Notes: Circana U.S. Multi Outlet+ with Convenience. 10

  11. Slide 11: Premier Protein Brand Metrics Remained Strong

    Premier Protein Brand Metrics Remained Strong +19% +17% +17% +17% +9% +9% +6% +8% 30g Shake Repeat Rate 49% 50% 52% 52% 52% 30g Shake Buy Rate $82 $84 $91 $94 $93 Notes: Numerator Total U.S. Panel 52 weeks ending March 29, 2026. Liquids refers to the liquid sub-category of the wellness category. Cal

  12. Slide 12: Premier Protein RTD Share Rose Driven by Promotional Activity

    Premier Protein RTD Share Rose Driven by Promotional Activity Trended Premier Protein RTD Shake $ Share % Club Promotion Club Promotion Club Promotion 30 28.2 25 22.0 20 15 10 5 0 Notes: Circana U.S. Multi Outlet+ with Convenience. 12

  13. Slide 13: Premier Protein Powder Continued to Benefit from Channel Expansion but Faced Headwinds

    Premier Protein Powder Continued to Benefit from Channel Expansion but Faced Headwinds from Inflation-Driven Price Increase Premier Protein Powders $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Mass -5.1% -3.5% eCommerce +2.4% +3.5% Food -13.1% -3.5% Club +94.3% +344.6% Total Consumption (tracked

  14. Slide 14: Premier Protein Powder Consumption Grew in Q2 FY2026

    Premier Protein Powder Consumption Grew in Q2 FY2026 Premier Protein Ready-to-Mix Powders Rolling 13 week Total $ Consumption Sales $ Volume Jun 1'2025 Jun 30'24 Feb 2'25 Feb 1'26 Jul 28'24 Dec 29'24 Jun 29'25 Aug 3'25 Dec 28'25 Dec 1'24 May 31'24 Sep 01'24 Sep 29'24 Nov 3'24 Mar 2'25 Mar 30'25 Aug

  15. Slide 15: Premier Protein Powder Distribution Steady

    Premier Protein Powder Distribution Steady 250 61 60 200 52 195 50 160 150 40 % ACV TDPs 30 100 20 50 10 0 0 Total Points of Distribution ACV Weighted Distribution Notes: Circana U.S. Multi Outlet+ with Convenience. 15

  16. Slide 16: Dymatize Consumption Driven by RTD Growth

    Dymatize Consumption Driven by RTD Growth Dymatize $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks eCommerce +4.7% +7.2% Mass -6.5% -0.4% Specialty/All Other -8.8% -5.3% Food +8.7% +7.3% Club +160.4% +22.2% Total Consumption (tracked + untracked channels) +6.0% +4.1% • Tracked and untracked consump

  17. Slide 17: Total Dymatize Consumption Grew in Q2 FY2026

    Total Dymatize Consumption Grew in Q2 FY2026 Dymatize Rolling 13 week Total $ Consumption Sales $ Volume Jul 28'24 Feb 2'25 Aug 3'25 Feb 1'26 Jun 30'24 May 31'24 Sep 01'24 Sep 29'24 Nov 3'24 Dec 29'24 Mar 2'25 Mar 30'25 Jun 29'25 Dec 1'24 Jun 1'25 Aug 31'25 Sep 28'25 Nov 2'25 Nov 30'25 Dec 28'25 Mar

  18. Slide 18: Dymatize Growing Distribution Year-Over-Year

    Dymatize Growing Distribution Year-Over-Year 400 60 54 350 52 311 50 300 266 40 250 % ACV TDPs 200 30 150 20 100 10 50 0 0 Total Points of Distribution ACV Weighted Distribution Notes: Circana U.S. Multi Outlet+ with Convenience. 18

  19. Slide 19: BellRing’s Complementary Powder Portfolio Remains a Strong and Meaningful Protein Category Player

    Notes: 1% 2% 3% 5% 6% 7% 4% % 5.7 2.0 3.7 4WE 04-28-24 4WE 05-26-24 Circana U.S. Multi Outlet+ with Convenience. 4WE 06-23-24 4WE 07-21-24 4WE 08-18-24 4WE 09-15-24 4WE 10-13-24 4WE 11-10-24 4WE 12-08-24 4WE 01-05-25 Total BellRing Powders 4WE 02-02-25 4WE 03-02-25 4WE 03-30-25 4WE 04-27-25 and Mean

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