Gruma Sab De Cv Class B · BMV:GRUMA/B
Gruma Sab De Cv Class B — Q4 2025 Earnings Presentation
27 slides from Gruma Sab De Cv Class B's earnings presentation, February 2026
Slide 1: Investor Presentation 4th Quarter 2025
Investor Presentation 4th Quarter 2025
Slide 2: World's Largest Corn Flour and Tortilla Producer with a Global Reach
GRUMA is the World´s Largest Corn Flour and Tortilla Producer with a Global Reach Sales US$6.4 Bn Plants 77 Mkt Cap2 US$5.9 Bn 20253 Approximately EBITDA1 US$1,136 mm Employees Float 45% 25,000 Gruma Gruma Asia Gruma USA GIMSA Gruma Europe Footprint Centroamérica & Oceania ▪ Tortilla ▪ Corn flour ▪
Slide 3: Strong Brand Awareness and Consumer Loyalty
Strong Brand Awareness and Consumer Loyalty Division Brands Products Mkt Position Tortilla 1 Gruma USA Tortilla Corn flour GIMSA Corn flour MISSION Mx Tortilla Gruma Europe Tortilla 2 Corn flour 1 Gruma Centroamérica Tortilla 1 Tortilla 2 Gruma Asia & Oceania Tortilla 3
Slide 4: Driving Growth and Innovation in Health–Oriented Consumer Segments
Driving Growth and Innovation in Health–Oriented Consumer Segments Health – Oriented Consumer Trend ▪ Consumer awareness for healthier food has increased ▪ Consumers replacing breads with wraps popularity for alternatives in typical dishes and snacks ▪ Increased popularity of healthier snack options
Slide 5: New Launches, Dynamic Merchandizing Enhance Sales of Value-Added Higher Margin Products
New Launches, Dynamic Merchandizing Enhance Sales of Value-Added Higher Margin Products WW Chia & WW sprouted WW Pita quinoa wrap wrap WW carb Organic corn balance street Flatbread tortilla chips tacos Low-calorie corn tortillas 5
Slide 6: Consistent Growth in Net Sales and Profitability Supported by Continuous Innovation
Consistent Growth in Net Sales and Profitability Supported by Continuous Innovation with a Global Presence… Volume (thousands of metric tons) Volume 21´- ´25 CAGR 4,206 4,329 4,372 4,338 4,337 1% 2021 2022 2023 2024 2025 FY Net Sales and EBITDA (millions of US$) Net Sales 21´ - ´25 CAGR 7,000 $6,576
Slide 7: Healthy Capital Structure Reflects a Disciplined Approach to Debt Management
…While a Healthy Capital Structure Reflects a Disciplined Approach to Debt Management Debt (Millions of US$) 1,981 1,897 1,843 1,511 1,667 367 365 389 362 319 1,614 1,532 1,454 1,192 1,305 2021 2022 2023 2024 2025 Leases Debt Net Debt / EBITDA (times) 2.1x 1.7x 1.5x 1.2x 1.3x 2021 2022 2023 2024 202
Slide 8: Healthy Debt Maturity Profile, 67% of Debt Dollar-Denominated
The Company Enjoys a Healthy Debt Maturity Profile, Where 67% of Debt is Dollar-Denominated, Backed by its U.S. Operations Debt Outstanding Maturity Schedule 1 (US$ mm) Debt by Currency Composition (As of December 31st, 2025) Rate 2026 2027 2028 2029 2030 2031 2032+ Total Senior Notes 2034 Fixed 5.3
Slide 9: GRUMA Keeps Improving its Results, with Higher-Cash Generation
GRUMA Keeps Improving its Results, with Higher-Cash Generation …. Stockholder Ownership 1 Dividend Payment Detail (millions of pesos) 45% 55% Amount Dividend per Yield Share (Ps.) 4.27 4.28 4.65 5.64 5.20 5.40 5.40 5.04 5.76 …and a Share Buyback Program for the Benefit of its Shareholders 2020 2021
Slide 10: Corporate Governance
Corporate Governance ▪ Management has an average of 24 years at Juan Antonio González GRUMA Moreno Chairman & CEO Executive Board Members Independent Board Members Laura Dinora Homero Huerta Moreno Carlos Hank González Martínez Salinas Chief Administrative Vice Chairman of Law Sector Officer the Boa
Slide 11: United States
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Slide 12: Gruma USA is the Largest Subsidiary and Leading Corn Flour and Tortilla Producer
Gruma USA is the Largest Subsidiary and the Leading Corn Flour and Tortilla Producer in the United States… Plant Distribution Map Business Description Summary 2025FY Net Sales Fife, WA US$3.4 Bn McMinnville, OR New Brighton, MN Hayward, CA Madera, CA Omaha, NE Fresno, CA Evansville, IN Panorama City
Slide 13: Clear and Solid Drivers of Growth in Both Main Markets in the United States
…With Clear and Solid Drivers of Growth in Both of our Main Markets of Focus in the United States Estimated Markets for Strong Growth of the Hispanic Population Tortilla and Flour in the U.S. ▪ 19.4% of total U.S. population, out of which 58% are Mexican1 Tortilla / tortilla chips Corn flour Strong
Slide 14: Greater Brand Awareness and Richer Product Mix Improved Volumes and Profitability
Greater Brand Awareness, in Addition to a Richer Product Mix, Has Resulted in Improved Volumes and Profitability Volume (thousands of metric tons) Volume 21’- ’25 CAGR 1,605 1,592 1,576 1,535 1,522 0% 2021 2022 2023 2024 2025 FY Net Sales and EBITDA (millions of US$) 428.2 Net Sales 21´- ‘25 CAGR 47
Slide 15: Gruma USA Expects Continued Margin Improvement Based Principally on
Gruma USA Expects Continued Margin Improvement Based Principally on: ▪ Healthier alternatives Change in the sales mix towards higher- margin SKUs ▪ More value-added products ▪ Smaller product count per package Efficiencies arising from new plants and capacity expansions ▪ Continuation with our polic
Slide 16: GIMSA
GIMSA
Slide 17: GIMSA is GRUMA's Second Largest Subsidiary and Leader of the Corn Flour Industry in Mexico
GIMSA is GRUMA’s Second Largest Subsidiary and the Leader of the Corn Flour Industry in Mexico Plant Distribution Map Business Description Summary 2025FY Net Sales Mexicali US$1.8 Bn(1) Chihuahua Obregón Culiacán Nuevo León GIMSA Río Bravo La Paz Acaponeta Bajío Tampico Mérida México Jalisco * Celay
Slide 18: GIMSA's Stable Volume Generation Has Given GRUMA a Strong Foundation
GIMSA’s Stable Volume Generation Has Given GRUMA a Strong Foundation for Its Global Operation Volume (thousands of metric tons) Volume 21’- ´25 CAGR 2,147 2,140 2,127 1% 2,047 2,076 2021 2022 2023 2024 2025 FY Net Sales and EBITDA 1 (millions of US$) Net Sales 21- ‘25 CAGR $1,882 400 2,000 $1,857 $1
Slide 19: Expectations of GIMSA's Results are Based on...
Expectations of GIMSA´s Results are Based on... Transition from the traditional method to the nixtamalized corn flour method of making tortillas and other corn-based products, as the primary opportunity for increased nixtamalized corn flour sales, particularly in Mexico Stability of its operations a
Slide 20: Europe
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Slide 21: Gruma Europe is the Company's Third Largest Subsidiary, Focused on Tortilla Business
Gruma Europe is the Company’s Third Largest Subsidiary, Focused Mainly on the Tortilla Business Plant Distribution Map Business Description Summary 2025FY Net Sales US$511 mm Mission Foods Azteca Milling 79% of Revenues 21% of Revenues 6 Plants in Europe 3 Mills in Europe ▪ England (2) ▪ Italy ▪ Rus
Slide 22: Growth Potential for European Tortilla Market Supported by Three Main Consumer Trends
Growth Potential for European Tortilla Market Supported by Three Main Consumer Trends Strong Growth of the Hispanic GROWTH Population DRIVERS Estimated Markets for Tortilla and Corn Flour in Europe Substitution of Sandwiches for Wraps ▪ US$1,200 mm1 Tortilla / tortilla chips Popularity of Mexican Fo
Slide 23: Brand Awareness and Product Quality Have Supported Volumes and Profitability
Incrementally Strong Brand Awareness and GRUMA´s Product Quality Have Supported Volumes and Profitability Volume (thousands of metric tons) 389 410 419 418 426 Volume 21’- ’25 CAGR 2% 2021 2022 2023 2024 2025 FY Net Sales and EBITDA (millions of $US) 600 80 Net Sales 21’-‘25 CAGR 142.2 125.7 $511 70
Slide 24: Improved Profitability in Gruma Europe will Result from
Improved Profitability in Gruma Europe will Result from: 1 A better sales mix favoring the retail tortilla business, particularly with branded products, supported by enhanced marketing and distribution efforts 3 2 Potential M&A of tortilla Production efficiencies at tortilla companies to increase fo
Slide 25: Additional Opportunities
Additional Opportunities Additional Opportunities
Slide 26: Exciting Opportunities for Tortilla Penetration in Other Growing Markets
Along with its Three Main Subsidiaries, GRUMA Sees Exciting Opportunities for Tortilla Penetration in Other Growing Markets Asia & Oceania Central America ▪ Presence in Asia and Oceania with four tortilla ▪ Presence in Central America with three corn production facilities and sales of around flour p
Slide 27: Contact Information
Contact Information Rogelio Sánchez Adolfo Werner Fritz Corporate Finance VP Head of Investor Relations rsanchezm@gruma.com afritz@gruma.com Tel: +52.81.8399.3311 Tel: +52.81.8399.3324 Desiree Gómez Investor Relations Senior Analyst desireeg561@gruma.com Tel: +52.81.8399.3349