Slide 1: Second Quarter Fiscal Year 2024 Supplemental Presentation
Second Quarter Fiscal Year 2024 Supplemental Presentation May 6, 2024 Investor Presentation November 2022
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 • BellRing’s reliance on a limited number of third-party suppliers to provide certain ingredients forward-looking statements within the meaning of the P
Slide 3: Cautionary Statement Regarding Forward-Looking Statements (Cont'd)
Cautionary Statement Regarding Forward-Looking Statements (Cont’d) (CONTINUED FROM PRIOR PAGE): • BellRing’s ability to satisfy the requirements of Section 404 of the Sarbanes-Oxley Act of 2002; • uncertain or unfavorable economic conditions that limit customer and consumer demand for BellRing’s pro
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
Slide 5: Q2 FY2024 Consumption and Key Metrics Executive Summary
Q2 FY2024 Consumption and Key Metrics Executive Summary ● The convenient nutrition category continued growth (+5%)1, with strong ready-to-drink (“RTD”) growth partly offset by slowing growth in powders and bars. ● Premier Protein RTD shake consumption was up (+29%)2 in Q2 FY2024. ○ RTD shake market
Slide 6: Ready-to-Drink Continued Double-Digit Growth; Ready-to-Mix Growth Moderated as Consumers Seek Value
Ready-to-Drink Continued Double-Digit Growth; Ready-to-Mix Growth Moderated as Consumers Seek Value L13 L52 Growth % Dollar Volume Price/Mix Dollar Volume Price/Mix Ready-to-Drink +10% +5% +5% +17% +7% +10% Ready-to-Mix +3% +0% +3% +13% +4% +9% Ready- 23% 22% 19% 21% 21% 19% 20% 22% 21% 19% 15% 15%
Slide 7: Premier Protein RTD Shake Growth Strong Across All Channels
Premier Protein RTD Shake Growth Strong Across All Channels Premier Protein RTD Shakes $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Club +24.8% +21.6% Mass +44.1% +51.3% eCommerce +47.3% +50.5% Food +10.9% +24.9% Total Consumption (tracked + untracked channels) +28.8% +30.2% Total Tracked +25.8%
Slide 8: Premier Protein RTD Shakes Continued Strong Year-over-Year Growth and Reached New Quarterly Consumption High
Premier Protein RTD Shakes Continued Strong Year-over-Year Growth and Reached New Quarterly Consumption High Premier Protein RTD Shakes Rolling 13 week Total $ Consumption Sales $ Volume Jul 3 '22 Jul 2 '23 Oct 2 '22 Feb 26 '23 Jan 28'24 Mar 31'24 May 29 '22 Apr 30 '23 Aug 28 '22 Apr 2 '23 May 28 '2
Slide 9: Q2 FY2024 Consumption Tracked Closely with Shipments
Q2 FY2024 Consumption Tracked Closely with Shipments Premier Protein RTD Shake Consumption vs. Shipments (13 Week Quarters) Trade Inventory Trade Inventory Consumption and Trade Inventory Trade Inventory Consumption Consumption in line Consumption in line shipments closely Increase, Seasonality Incr
Slide 10: Out of Stocks Driving Temporary RTD Shake TDP Declines; Recovery Expected Throughout H2 2024
Out of Stocks Driving Temporary RTD Shake TDP Declines; Recovery Expected Throughout H2 2024 85 82 1,000 80 80 890 75 800 70 654 600 65 % ACV TDPs 60 400 55 50 200 45 0 40 Total Points of Distribution ACV Weighted Distribution Notes: Circana U.S. Multi Outlet + Convenience. 10
Slide 11: Premier Protein Household Penetration Growth Drove Both the Brand and Category to All-Time Highs
Premier Protein Household Penetration Growth Drove Both the Brand and Category to All-Time Highs Premier Protein Total Brand and RTD Shake Penetration RTD 46.2 HH Pen RTD 45.4 HH Pen 20.0 18.4 RTD 39.7 HH Pen 17.1 16.3 17.5 18.0 16.5 15.9 16.0 14.2 13.8 13.8 13.3 14.0 12.0 10.0 8.0 6.0 4.0 2.0 +16%
Slide 12: Premier Protein RTD Shake Share Remained Strong; Recent Decline Resulted from Temporary Out of Stocks
Notes: 10% 15% 20% 25% 30% 0% 5% 4WE 05-01-22 17.5% 4WE 05-29-22 Circana U.S. Multi Outlet + Convenience. 4WE 06-26-22 4WE 07-24-22 4WE 08-21-22 4WE 09-18-22 4WE 10-16-22 4WE 11-13-22 4WE 12-11-22 4WE 01-08-23 4WE 02-05-23 4WE 03-05-23 4WE 04-02-23 4WE 04-30-23 4WE 05-28-23 4WE 06-25-23 Decline Resu
Slide 13: Premier Protein Powders Continued Impressive Growth Across All Channels
Premier Protein Powders Continued Impressive Growth Across All Channels; Significantly Outpacing the Ready-to-Mix Category Premier Protein Powders $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Mass +65.9% +79.0% eCommerce +79.9% +105.8% Food +13.9% +14.9% Total Consumption (tracked + untracked ch
Slide 14: Premier Protein Powders Continued Strong Growth Trajectory and Reached New Consumption Highs
Premier Protein Powders Continued Strong Growth Trajectory and Reached New Consumption Highs YOY Q1 Q2 Q3 Q4 Q1 Q2 %Δ +59% +122% +86% +55% +66% +52% Notes: Circana U.S. Multi Outlet + Convenience and management estimates of untracked channels. 14
Slide 15: Premier Protein Powders Reached All-Time Distribution Highs
Premier Protein Powders Reached All-Time Distribution Highs 200 59 62 180 177 52 48 160 140 42 120 32 % ACV TDPs 100 84 22 80 60 12 40 2 20 0 -8 Total Points of Distribution ACV Weighted Distribution Notes: Circana U.S. Multi Outlet + Convenience. 15
Slide 16: Dymatize FDM Growth Offset by Softness in Specialty, Increased eCommerce Competitive Activity and Lapping Club Rotation
Dymatize FDM Growth Offset by Softness in Specialty, Increased eCommerce Competitive Activity and Lapping Club Rotation Dymatize Powders $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks eCommerce -10.4% +19.4% Mass +28.7% +39.1% Specialty/All Other -37.4% -20.2% Food +7.4% +36.4% Club -45.2% +56.0%
Slide 17: Dymatize Overall Consumption Remains Healthy, Despite Specialty and eCommerce Headwinds
Dymatize Overall Consumption Remains Healthy, Despite Specialty and eCommerce Headwinds Dymatize Powders Rolling 13 week Total $ Consumption Sales $ Volume Oct 2 '22 Feb 26 '23 Jan 28'24 Mar 31'24 May 29 '22 Apr 30 '23 Mar 3'24 May 1 '22 Aug 28 '22 Apr 2 '23 May 28 '23 Nov 26'23 Dec 31'23 Oct 29'23
Slide 18: Dymatize Powder TDP Levels Remain Healthy
Dymatize Powder TDP Levels Remain Healthy Notes: Circana U.S. Multi Outlet + Convenience. 18
Slide 19: BellRing's Complementary Powder Portfolio Saw Meaningful Market Share Gains in the Last Twelve Months
BellRing’s Complementary Powder Portfolio Saw Meaningful Market Share Gains in the Last Twelve Months Trended Powders $ Share % Notes: Circana U.S. Multi Outlet + Convenience. 19
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