Slide 1: Fiscal Year 2026 Second Quarter
Fiscal Year 2026 Second Quarter November 7, 2025
Slide 2: Caution Regarding Forward-Looking Information
Caution Regarding Forward-Looking Information This presentation and accompanying oral presentation contains statements which are forward-looking statements within the meaning of applicable securities laws. These forward-looking statements include, among others, statements with respect to our objecti
Slide 3: Second Quarter of Fiscal 2026 Highlights
Second Quarter of Fiscal 2026 Highlights Stronger Improved Meaningful margin Robust operating Fuelling sales Brands winning Well positioned to commercial efficiency and gains across the cash flow volumes growth with consumers capture execution driving ongoing cost portfolio supporting through brand
Slide 4: Consolidated Results
Consolidated Results For the second quarter ended September 30, 2025 REVENUES ADJUSTED EBITDA1 $4.721B $450M 0.3% 15.7% NET EARNINGS ADJUSTED NET EARNINGS1 $185M $198M 46.8% 26.1% EPS ADJUSTED EPS1 (BASIC AND DILUTED) (BASIC AND DILUTED) $0.45 $0.48 50.0% 29.7% 4 1. This a total of segments measure,
Slide 5: Financial Highlights
Financial Highlights • Revenue growth driven by: Key Events ◦ Higher sales volumes, particularly in North America. ◦ Higher selling prices across domestic and international cheese and dairy ingredient markets. ◦ Lower U.S. dairy commodity pricing2 as compared to last fiscal year. Term Notes • Adjust
Slide 6: Canada Sector
HIGHLIGHTS BY SECTOR Canada Sector For the second quarter ended September 30, 2025 Q2-FY26 vs. Q2-FY25 Revenues 1.373B 6.1% • Higher sales volumes driven by commercial initiatives and execution. Adjusted EBITDA • Favourable product mix and higher pricing. • Enhanced manufacturing efficiencies in aut
Slide 7: USA Sector
HIGHLIGHTS BY SECTOR USA Sector For the second quarter ended September 30, 2025 Q2-FY26 vs. Q2-FY25 Revenues 2.153B (3.2)% • Higher sales volumes and favourable product mix. • Operational improvements from ongoing efficiency initiatives. Adjusted EBITDA • Disciplined execution on customer fulfillmen
Slide 8: International and Europe Sectors
HIGHLIGHTS BY SECTOR International and Europe Sectors For the second quarter ended September 30, 2025 Q2-FY26 vs. Q2-FY25 International Europe International and Europe Revenues 1 871M (4.5)% 324M 17.0% 1.195B 0.5% International Sector • Stable sales volumes. • Higher international selling prices. Ad
Slide 9: FY26 Outlook
• The direct impact of trade-related tariffs on our business is expected to remain limited and well managed at this time. However, while we • We remain confident in the long-term outlook for the business and its anticipate that the evolving global trade landscape and consumer ability to navigate cur
Slide 10: Fiscal Year 2026 Third Quarter Results
Fiscal Year 2026 Third Quarter Results February 6, 2026
Slide 11: Appendix
Appendix 11
Slide 12: Quarterly Financial Information by Sector
Quarterly Financial Information by Sector Fiscal years 2026 2025 2024 (in millions of CDN dollars) Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Revenues Canada 1,373 1,321 1,258 1,359 1,294 1,253 1,192 1,271 USA 2,153 2,128 2,140 2,305 2,225 2,085 1,928 2,056 International 871 865 1,020 1,019 912 1,004 1,135 636 Europe
Slide 13: Investor Relations
Investor Relations Nicholas Estrela Senior Director, Investor Relations Saputo Inc. 1000 de la Gauchetière Street West, Suite 2900 Montréal, QC Canada H3B 4W5 514-328-3117 nicholas.estrela@saputo.com www.saputo.com 13