Mondelez International, Inc. · NASDAQ:MDLZ

Mondelez International — Q2 2026 Earnings Presentation

29 slides from Mondelez International's earnings presentation, Jul 28, 2026

  1. Slide 1: Q2 2026 Results

    SNACKING MADE RIGHT Q2 2026 RESULTS July 28, 2026

  2. Slide 2: Forward-Looking Statements; Non-GAAP Financial Measures

    FORWARD-LOOKING STATEMENTS This presentation and accompanying prepared remarks contain forward-looking statements. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws. Words, and variations of words, such as “will

  3. Slide 3: Agenda

    AGENDA 1 Business & Strategy Update 2 Financial Results 3 2026 Outlook 3

  4. Slide 4: Robust Q2 Results; Raising FY Top-Line Outlook to At Least +2%

    ROBUST Q2 RESULTS UNDERPINNED BY SOLID EXECUTION; RAISING FY TOP-LINE OUTLOOK TO AT LEAST +2% 1. Durable Q2 top-line growth +2.2%, with positive vol/mix +0.7pp or ~+1.2pp ex. downsizing 2. Strong top-line and profitability performance in three regions, Europe demonstrating signs of improvement 3. Q2

  5. Slide 5: Continued Top-Line Strength with Profit Improving Sequentially

    CONTINUED TOP-LINE STRENGTH WITH PROFIT IMPROVING SEQUENTIALLY Organic Net Adjusted Gross Adjusted OI Adjusted Free Cash Flow Revenue Growth Profit Growth1 Growth1 EPS Growth1 Q2 +2.2% +3.0% -6.1% -2.7% 2026 Vol/Mix +0.7pp Price +1.5pp YTD +2.6% -1.2% -12.8% -8.8% $0.7B 2026 Vol/Mix +0.1pp Price +2.

  6. Slide 6: Consumer Sentiment Improving Slightly; Category & Share Performance Resilient

    CONSUMER SENTIMENT IMPROVING SLIGHTLY; CATEGORY & SHARE PERFORMANCE REMAINS RESILIENT Consumer Categories1 • Consumer confidence partially rebounded from • Biscuit category flat, MDLZ gaining share North record lows, impacted by energy prices • Strong growth in Snack Bars, MDLZ gaining share America

  7. Slide 7: Playbook Execution Driving Business Momentum

    PLAYBOOK EXECUTION DRIVING BUSINESS MOMENTUM Drive consumer value and unlock new occasions Expand in channels and numerical distribution Step-up big, bold innovation launches Invest behind our brands and capabilities Continue productivity and cost savings agenda 7

  8. Slide 8: Agenda

    AGENDA 1 Business & Strategy Update 2 Financial Results 3 2026 Outlook 8

  9. Slide 9: Volume/Mix Improving Sequentially in Both EM and DM

    VOLUME/MIX IMPROVING SEQUENTIALLY IN BOTH EM AND DM Mondelēz Emerging Markets Developed Markets Organic Net Revenue Growth Organic Net Revenue Growth Organic Net Revenue Growth 40% of Total MDLZ Revenue1 60% of Total MDLZ Revenue1 Q2 +2.2% +4.4% +0.7% 2026 Vol/Mix +0.7% Vol/Mix +1.6% Vol/Mix -% YTD

  10. Slide 10: Solid Top-Line Results Across Core Categories with Vol/Mix Step-Up

    SOLID TOP-LINE RESULTS ACROSS CORE CATEGORIES WITH VOL/MIX STEP-UP Biscuits & Baked Snacks Chocolate Gum & Candy Organic Net Revenue Growth Organic Net Revenue Growth Organic Net Revenue Growth 48% of Total MDLZ Revenue1 33% of Total MDLZ Revenue1 10% of Total MDLZ Revenue1 Q2 +2.5% -0.1% +7.6% 2026

  11. Slide 11: Improving Share Performance YTD

    IMPROVING SHARE PERFORMANCE YTD Category Value Growth1 Snacks Revenue Gaining/Holding Share1 YTD 2026 ~65% 4.2% 3.2% ~40% 1.9% 0.7% Biscuits Chocolate Gum & Candy Total Snacks 2025 YTD 2026 & Baked Snacks 1 Share performance and category growth based on available scanner data from several external s

  12. Slide 12: Strong Q2 Growth Underpinned by Vol/Mix Gains, Profit Improving

    STRONG Q2 GROWTH UNDERPINNED BY VOL/MIX GAINS, PROFIT IMPROVING Q2 2026 Organic Net Revenue Growth and Adjusted OI Growth by Region Q2 2026 Mondelēz Europe North America AMEA Latin America Revenue +2.2% -3.5% +3.4% +7.1% +8.4% Growth Vol/Mix Vol/Mix Vol/Mix Vol/Mix Vol/Mix +0.7pp -2.1pp +1.2pp +5.2p

  13. Slide 13: Solid Q2 Gross Profit Growth, Fueling A&C Reinvestments

    SOLID Q2 GROSS PROFIT GROWTH, FUELING A&C REINVESTMENTS; YTD PROFIT PRIMARILY IMPACTED BY COCOA PHASING Adjusted Gross Profit Q2 2026 vs PY Adjusted Operating Income Q2 2026 vs PY $3.2B +HSD% +LSD% $3.1B $1.3B $3.0B -% -% +DD% $1.2B $1.2B +3.0% +4.9% -6.1% -4.8% (Cst Fx) (Rpt Fx) (Cst Fx) (Rpt Fx) Q

  14. Slide 14: Solid Q2 EPS Delivery; YTD EPS Impacted by Cocoa Cost Phasing

    SOLID Q2 EPS DELIVERY; YTD EPS IMPACTED BY COCOA COST PHASING Q2 2026 EPS vs PY Adjusted, Fav/(Unfav) $0.73 $0.03 $0.71 $0.02 $0.73 $- $(0.04) $(0.01) -2.7% -% (Cst Fx) (Rpt Fx) Q2 2025 Operations Shares Interest/ Taxes Q2 2026 Forex Q2 2026 Adjusted Other Adj. EPS Adjusted EPS @ Cst FX EPS YTD $1.4

  15. Slide 15: Capital Allocation Discipline and Return Remains a Priority

    CAPITAL ALLOCATION DISCIPLINE AND RETURN REMAINS A PRIORITY Free  $0.7 Billion YTD Cash Flow  CCC -34 days Share  $0.2 Billion YTD Repurchases  $60.69 average price  $1.3 Billion YTD Dividends  Announcing +4% dividend increase 15

  16. Slide 16: Agenda

    AGENDA 1 Business & Strategy Update 2 Financial Results 3 2026 Outlook 16

  17. Slide 17: Raising FY Organic Growth Outlook to At Least +2%, EPS Unchanged

    RAISING FY ORGANIC GROWTH OUTLOOK TO AT LEAST +2%, EPS UNCHANGED Organic Net Adjusted EPS Free Outlook Revenue Growth Growth (Cst. Fx) Cash Flow FY26 At Least Flat to +5% ~$3B +2% Algo 3-5% +HSD% $3B+ LT FY26 Planning Assumptions Inflation Adj. Interest Adj. Effective Share Forex % of COGS Expense T

  18. Slide 18: Closing Comments

    CLOSING COMMENTS • Robust H1 top-line growth, with positive Vol/Mix, underpinned by strong execution: • Broad-based, resilient growth in Emerging Markets • Developed Markets performance improving • North America posting solid growth momentum • Europe continues to stabilize, particularly in Chocolate

  19. Slide 19: Dirk Van de Put, Luca Zaramella, Amit Banati

    Dirk Van de Put Luca Zaramella Amit Banati Chairman & CEO COO CFO 19

  20. Slide 20: Mondelēz International – Snacking Made Right

    Mondelez, International SNACKING MADE RIGHT

  21. Slide 21: Spot Rates Versus 2025 Average FX Rates for Key Countries

    SPOT RATES VERSUS 2025 AVERAGE FX RATES FOR KEY COUNTRIES Source: XE.com Full Year 20251 July 17th Rate Impact vs 2025 Argentine Peso 1224.29 / $US 1480.59 / $US Australian Dollar US$0.64 / AUD US$0.70 / AUD Brazilian Real 5.59 / $US 5.11 / $US Canadian Dollar US$0.72 / CAD US$0.71 / CAD Chinese Yua

  22. Slide 22: Outlook

    OUTLOOK The company’s Organic Net Revenue growth, Adjusted EPS growth on a constant currency basis, Adjusted Interest Expense, Adjusted Effective Tax Rate and Free Cash Flow for full- year 2026 are non-GAAP financial measures that exclude or otherwise adjust for items impacting comparability of fina

  23. Slide 23: Additional Non-GAAP Financial Measures Definitions

    ADDITIONAL NON-GAAP FINANCIAL MEASURES DEFINITIONS “Adjusted SG&A” is defined as selling, general and administrative expenses (the most comparable U.S. GAAP financial measure) excluding impacts of: restructuring charges, divestiture-related items, acquisition-related items, mark-to-market impacts fr

  24. Slide 24: GAAP to Non-GAAP Reconciliations

    GAAP TO NON-GAAP RECONCILIATIONS Net Revenues to Organic Net Revenue (in millions of U.S. dollars) (Unaudited) Latin North Mondelēz Emerging Developed America AMEA Europe America International Markets Markets For the Three Months Ended June 30, 2026 Reported (GAAP) $ 1,374 $ 1,971 $ 3,377 $ 2,633 $

  25. Slide 25: GAAP to Non-GAAP Reconciliations

    GAAP TO NON-GAAP RECONCILIATIONS Net Revenues to Organic Net Revenue by Consumer Sector (in millions of U.S. dollars) (Unaudited) Biscuits & Baked Gum & Total Mondelēz Snacks Chocolate Candy Snacks Beverages Meals International For the Three Months Ended June 30, 2026 Reported (GAAP) $ 4,735 $ 2,721

  26. Slide 26: GAAP to Non-GAAP Reconciliations

    GAAP TO NON-GAAP RECONCILIATIONS Gross Profit / Operating Income to Adjusted Gross Profit / Operating Income (in millions of U.S. dollars) (Unaudited) Gross Profit Operating Income Unrealized G/(L) on General Amortization Mondelēz Latin North Hedging Corporate of Other Mondelēz For the Three Months

  27. Slide 27: GAAP to Non-GAAP Reconciliations

    GAAP TO NON-GAAP RECONCILIATIONS Gross Profit / Operating Income to Adjusted Gross Profit / Operating Income (in millions of U.S. dollars) (Unaudited) Gross Profit Operating Income Unrealized G/(L) on General Amortization Mondelēz Latin North Hedging Corporate of Other Mondelēz For the Six Months En

  28. Slide 28: GAAP to Non-GAAP Reconciliations

    GAAP TO NON-GAAP RECONCILIATIONS Diluted EPS to Adjusted EPS (Unaudited) For the Three For the Six Months Ended Months Ended Mondelēz International June 30, 2026 June 30, 2026 Reported (GAAP) $ 1.20 $ 1.64 Restructuring charges - 0.03 Mark-to-market (gains)/losses from derivatives (0.51) (0.34) Acqu

  29. Slide 29: GAAP to Non-GAAP Reconciliations

    GAAP TO NON-GAAP RECONCILIATIONS Net Cash Provided by Operating Activities to Free Cash Flow (in millions of U.S. dollars) (Unaudited) Mondelēz International For the Six Months Ended June 30, 2026 2025 $ Change Net Cash Provided by Operating Activities (GAAP) $ 1,322 $ 1,400 $ (78) Capital Expenditu

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