Slide 1: Q1 Fiscal 2026 Earnings Results
Q1 Fiscal 2026 Earnings z Results FEBRUARY 10, 2026
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 Q1 Fiscal 2026 Revenue & Profit Disciplined Capital Fiscal 2026 Results Growth Drivers Allocation Strategy Outlook Q1 2026 Earnings Results 3
Slide 4: Summary of Q1 Fiscal 2026 Results
Summary of Q1 Fiscal 2026 Results • Organic Revenue growth would have been approximately +8% without the calendar shift 0 Revenue +6% • Performance driven by base business expansion and net new business 1 • Strong momentum in new business wins and unprecedented client retention Organic Revenue +5% •
Slide 5: Revenue Growth Across Segments
Revenue Growth Across Segments Aramark Organic Growth: +5% Organic Revenue growth would have been approximately +8% without the calendar shift $4,832 $4,780 $4,552 ($51) Q1 '25 Q1 '26 Effect of Q1 '26 Revenue Revenue Currency Organic (as reported) (as reported) Translation Revenue FSS United States
Slide 6: First Quarter Growth Drivers Across Business Segments
First Quarter Growth Drivers Across Business Segments • Recently commenced operations at DePaul University and University of Albany, contributing to Collegiate Hospitality’s strong growth EDUCATION trajectory; Calendar shift affected results in the quarter; Favorable benefit expected from the calend
Slide 7: AOI Profitability Across Segments
AOI Profitability Across Segments Aramark AOI Growth: +1% AOI growth would have been approximately +11% without the calendar shift $263 $258 Q1 2025 Q1 2026 FSS United States AOI Growth: (1)% FSS International AOI Growth: +12% AOI Growth would have been approximately +9% without the calendar shift $
Slide 8: AI-Driven Global Supply Chain Differentiation
AI-Driven Global Supply Chain Differentiation • Global data harmonization unifies supplier, distributor, and internal records D ATA PRODUCT H A R M O N I Z AT I O N R E C O M M E N D AT I O N S • Contract intelligence automates complex analysis with expert knowledge agents • Real-time market insight
Slide 9: Disciplined Capital Allocation Strategy
Disciplined Capital Allocation Strategy • Continue to invest in business to drive and propel growth STRATEGIC OUTLAYS • Opportunistic tuck-in acquisitions • Capital expenditures driving client enhancements along with scale and innovation • Strong free cash flow generation supports leverage reduction
Slide 10: Fiscal 2026 Outlook
Fiscal 2026 Outlook Aramark continues to anticipate its full-year performance for fiscal 2026 as follows: ($ in millions, except Adjusted FY25 FY26 EPS and Leverage Ratio) Year-Over-Year Organic Reference Point $ Range1 Growth2 Revenue $18,180* $19,550 - $19,950 +7% — +9% Adjusted Operating Income
Slide 11: Appendix
Appendix Q1 2026 Earnings Results
Slide 12: Modeling Assumptions
Modeling Assumptions FY26 Modeling Assumptions • Net Interest Expense: $315M - $325M • Adjusted Tax Rate: ~26% • Share Count: ~270M • Effect of Currency Translation: ◦ Revenue: ~$100M Does not include the benefit from potential share repurchases Q1 2026 Earnings Results 12
Slide 13: Modeling Assumptions (continued)
Modeling Assumptions (continued) FY26 Modeling Assumptions: Quarterly Cadence Considerations • Operating Days - FY25’s extra, or 53rd, week, creates a calendar shift that affects year-over-year quarterly comparisons in FY26, which has no impact on the full year numbers. The calendar shift results fr
Slide 14: Revenue by Segment
Revenue by Segment The calendar shift resulting from the 53rd week in fiscal 2025 affects quarterly comparisons in fiscal 2026. In the first quarter of fiscal 2026, this shift reduced Total Revenue and Organic Revenue by an estimated $123 million, or 3%, of which approximately $114 million, or 3%, i
Slide 15: CapEx and Client Payments
CapEx and Client Payments ($ in thousands) Three Months Ended 01/02/2026 12/27/2024 Purchases of property and equipment and other $ 122,156 $ 119,861 Payments made to clients on contracts 101,408 61,032 $ 223,564 $ 180,893 Revenue (as reported) $ 4,831,549 $ 4,552,086 CapEx as % of Revenue 4.6 % 4.0
Slide 16: Non-GAAP Schedules
Non-GAAP Schedules Q1 2026 Earnings Results
Slide 17: 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 18: 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 19: Revenue, AOI and AOI Margin
Revenue, AOI and AOI Margin ARAMARK AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES ADJUSTED CONSOLIDATED OPERATING INCOME MARGIN (Unaudited) (In thousands) Three Months Ended January 2, 2026 Aramark and FSS United States FSS International Corporate Subsidiaries Revenue (as reported) $ 3,362,10
Slide 20: Organic Revenue and AOI Growth without the Calendar Shift
Organic Revenue and AOI Growth without the Calendar Shift ARAMARK AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES ORGANIC REVENUE AND ADJUSTED OPERATING INCOME GROWTH WITHOUT THE CALENDAR SHIFT (Unaudited) (In thousands) Three Months Ended January 2, 2026 Aramark and FSS United States Subsidiar
Slide 21: 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 January 2, 2026 December 27, 2024 Net Income Attributable to Aramark Stockholders (as reported) $ 96,161
Slide 22: Adjusted EPS Growth without the Calendar Shift
Adjusted EPS Growth without the Calendar Shift ARAMARK AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES ADJUSTED NET INCOME & ADJUSTED EARNINGS PER SHARE WITHOUT THE CALENDAR SHIFT (Unaudited) (In thousands, except per share amounts) Three Months Ended January 2, 2026 December 27, 2024 Net Incom
Slide 23: Net Debt to Covenant Adjusted EBITDA
Net Debt to Covenant Adjusted EBITDA ARAMARK AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES (1) Represents share-based compensation expense of equity awards resulting from the application of NET DEBT TO COVENANT ADJUSTED EBITDA accounting for stock options, restricted stock units, performance
Slide 24: Free Cash Flow
Free Cash Flow ARAMARK AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES FREE CASH FLOW (Unaudited) (In thousands) Three Months Ended January 2, 2026 Net Cash used in operating activities $ (782,200) Net purchases of property and equipment and other (120,033) Free Cash Flow $ (902,233) Three Mont
Slide 25: Q1 2026 Earnings Results
Q1 2026 Earnings Results