Post Holdings, Inc. · NYSE:POST
Post — Investor Presentation (August 2025)
30 slides from Post's investor presentation, Aug 22, 2025
Slide 1: Investor Presentation
Investor Presentation August 22, 2025
Slide 2: Important Notice Regarding the Information Contained in this Presentation
Important Notice Regarding the Information Contained in this Presentation The information contained in this presentation, unless otherwise noted, is as of August 7, 2025 and is intended to facilitate discussions with investors and potential investors of Post Holdings, Inc. (“Post,” “Post Holdings,”
Slide 3: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements Certain matters discussed in this presentation are forward-looking statements within ability to anticipate and respond to changes in consumer and customer the meaning of the Private Securities Litigation Reform Act of 1995. These forward- pre
Slide 4: Cautionary Statement Regarding Forward-Looking Statements (Cont'd)
Cautionary Statement Regarding Forward-Looking Statements (Cont’d) (CONTINUED FROM PRIOR PAGE): • the loss of, a significant reduction of purchases by or the bankruptcy of a major customer; • the success of new product introductions; • differences in Post’s actual operating results from any of its g
Slide 5: Additional Information
Additional Information Non-GAAP Financial Measures Post uses Adjusted EBITDA, free cash flow and free cash flow as a percentage of In this presentation, Post provides its Adjusted EBITDA guidance for fiscal year 2025, estimated consolidated Adjusted EBITDA, all of which are non-GAAP measures, in thi
Slide 6: Additional Information (Cont'd)
Additional Information (Cont’d) Prospective Financial Information The prospective financial information provided in this presentation regarding Post’s EBITDA taking into account the acquisition of 8th Avenue, Post’s normalized capital future performance, including Post’s Adjusted EBITDA guidance for
Slide 7: Additional Information (Cont'd)
Additional Information (Cont’d) Market and Industry Data This presentation includes industry and trade association data, forecasts and brands are currently the property of, or are under license by, Post or its consolidated information that were prepared based, in part, upon data, forecasts and infor
Slide 8: A Holding Company of Consumer Operating Companies
A Holding Company of Consumer Operating Companies • Post Holdings is a consumer packaged goods/food holding company • Currently, Post owns four platforms: • Post Consumer Brands • Weetabix • Foodservice • Refrigerated Retail • Post is considered a unique blend of operating excellence and innovative
Slide 9: Post Holdings: Current Businesses
Post Holdings: Current Businesses REFRIGERATED POST CONSUMER BRANDS WEETABIX FOODSERVICE RETAIL Primarily North American branded and private label Primarily United Primarily Primarily side dish, ready-to-eat (“RTE”) cereal, pet food, nut butter and Kingdom (“U.K.”) RTE egg and potato egg, cheese and
Slide 10: Post Holdings: Relative Segment Sizes
Post Holdings: Relative Segment Sizes Segment Sales by Category (3Q25) Foodservice Potatoes & Other 5% Grocery 28% Eggs 30% Post Consumer Pet 18% Brands Side Dishes 6% Other Weetabix 6% Refrigerated 7% Retail Weetabix 10
Slide 11: How Post Differs From Other CPG Companies
How Post Differs From Other CPG Companies • Post does not pay a dividend, and it generally operates at higher leverage levels • Maintaining higher leverage avoids excess equity. Not paying a dividend enables generally higher leverage by forgoing fixed commitments for its cash flow • Post returns cap
Slide 12: BellRing Brands: A Case Study
BellRing Brands: A Case Study • From September 2013 through October 2014, Post acquired Premier Protein, Dymatize and PowerBar for ~$700mm. These brands combined to form Post’s historical Active Nutrition segment and eventually became BellRing (NYSE: BRBR). • From October 2014 through October 2019,
Slide 13: Pet Food: A Case Study
Pet Food: A Case Study • In April 2023, Post acquired various pet food brands, including Nutrish, Nature’s Recipe, 9Lives, Kibbles ‘n Bits and Gravy Train, for $1.2bn from The J.M. Smucker Company. The transaction included facilities in Bloomsburg, Pennsylvania, Meadville, Pennsylvania and Lawrence,
Slide 14: Growth Algorithm
Growth Algorithm (Prost) POST HOLDINGS, INC.
Slide 15: Summary: Hurdle Rate and Illustrative Equity Value Creation
Summary • Post’s capital allocation is evaluated against a baseline performance that generates low teens share price CAGR (“Hurdle Rate”) • Assumes >3% Adjusted EBITDA growth and all free cash flow used to retire debt Enterprise Value Enterprise Value Net Debt Net Debt Equity Value Equity Value Post
Slide 16: 5 Year Algorithm
5 Year Algorithm Target Adjusted Segment Rationale EBITDA Growth • Network optimization is greater than Post Consumer the impact of RTE cereal category 2% Brands volume declines • Pet category growth • In line with historical CAGR • Volume growth with margin expansion Foodservice 5% via mix moving t
Slide 17: Free Cash Flow Generation
Free Cash Flow Generation Key Cash Flow Characteristics Illustrative Free Cash Flow Calculation ($ in millions) • Recurring revenue stream Post Fiscal Year 2025 Adjusted EBITDA Outlook (1) $ 1,510 (2) supported by strong or growing Annualization of 8th Avenue Adjusted EBITDA Contribution (2) 86 8th
Slide 18: Debt Maturity Ladder
Debt Maturity Ladder Notes are Fixed Rate with No Maturities until 2027 Debt Maturities by Calendar Year(1) ($ in millions) 2.50% Convertible Senior Notes due Aug. 2027 Revolving Credit Facility (Undrawn) (2) Revolving Credit Facility (Drawn) 5.50% Senior Notes due Dec. 2029 4.625% Senior Notes due
Slide 19: Business Overviews
Business Overviews (Prost) POST HOLDINGS, INC.
Slide 20: Post Consumer Brands ("PCB"): Overview
Post Consumer Brands (“PCB”): Overview • PCB is a scale level platform for ambient food products • Grocery (RTE cereal, granola,nut butter, pasta) • Pet food • PCB is the combination of: • Post Foods – separated from Ralcorp in 2012 • MOM Brands – acquired in 2015 • Weetabix North America – acquired
Slide 21: Post Consumer Brands: North America RTE Cereal
Post Consumer Brands: North America RTE Cereal • Strong #3 in category(1) • Branded dollar market share of 19%(1) • Branded volume market share of 22%(1) • #1 in the value segment(2) • #1 in the bag segment, with dollar and volume market share of ~70%(2) • #1 provider of private label RTE cereal(3)
Slide 22: Post Consumer Brands: Pet Food
Post Consumer Brands: Pet Food • #3 branded U.S. pet food manufacturer by volume(1) • Leading dog and cat food brands in the value, mainstream and entry premium sub-categories • Large, growing category supported by secular consumer trends • Key competitors • Nestlé • Mars • Key brands • Nutrish • 9L
Slide 23: Foodservice: Overview
Foodservice: Overview • In 2014, Post acquired Michael Foods, one of the largest providers of value-added eggs and potatoes for foodservice and retail channels • When Post acquired Bob Evans Farms in 2018, it created two pure channel plays with Michael Foods in foodservice and Bob Evans managing ret
Slide 24: Foodservice: Value-Added Egg Products
Foodservice: Value-Added Egg Products • Foodservice historical category growth rate of ~4%(1) • #1 foodservice provider with greater than 50% market share(1) • Key competitors • Cargill • Deb El Food Products • Category barriers to entry • Highly complex and costly supply chain • Cost leadership • T
Slide 25: Foodservice: Growth
Foodservice: Growth • Meaningful growth opportunities • Conversion ‘up the value chain’ to higher value-add, higher margin products • Volume growth through increase in away from home consumption • Expansion into other dayparts • Attractive value-proposition to foodservice customers • Diminished food
Slide 26: Foodservice: Margin Expansion Via Mix Improvement
Foodservice: Margin Expansion Via Mix Improvement Portion of Foodservice • Conversion of shell egg users egg to value-added products, up volume(1) ~2% gross volume mix shift up the value chain since pre- the value chain 15-20% pandemic(2) • Approximately ~40% of foodservice Precooked Products at the
Slide 27: Refrigerated Retail: Overview
Refrigerated Retail: Overview • Post acquired Bob Evans Farms in 2018 and created a pure play retail business • Refrigerated Retail is anchored by attractive dinner side dish products. Retail combination added breakfast side dishes – Bob Evans and Simply Potatoes. Both are attractive ‘heat and eat’
Slide 28: Refrigerated Retail: Sides
Refrigerated Retail: Sides • Attractive product set across retail refrigerated potato and pasta side dishes, egg products and breakfast sausage • Brands: Bob Evans, Simply Potatoes, Egg Beaters, Crystal Farms • Leader in refrigerated side dishes(1) • Meaningful growth opportunity through increasing
Slide 29: Weetabix: Overview
Weetabix: Overview • Weetabix, like PCB, is a scale ambient platform with a predominantly U.K. and European focus • Weetabix was acquired in 2017. In 2022, it added UFIT, a protein-based beverage provider • In the U.K. RTE cereal category, the flagship Weetabix brand holds the #1 brand position(1) a
Slide 30: POST HOLDINGS, INC.
POST HOLDINGS, INC.