Bellring Brands, Inc. · NYSE:BRBR

Bellring Brands — Q1 2025 Earnings Presentation

21 slides from Bellring Brands's earnings presentation, Feb 4, 2025

  1. Slide 1: First Quarter Fiscal Year 2025 Supplemental Presentation

    First Quarter Fiscal Year 2025 Supplemental Presentation February 3, 2025 Investor Presentation November 2022

  2. 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 • significant volatility in the cost or availability of inputs to BellRing’s business (including freight, forward-looking statements within the meaning

  3. Slide 3: Cautionary Statement Regarding Forward-Looking Statements (Cont'd)

    Cautionary Statement Regarding Forward-Looking Statements (Cont’d) (CONTINUED FROM PRIOR PAGE): • significant differences in BellRing’s actual operating results from any guidance BellRing may give regarding its performance; and • risks related to BellRing’s ongoing relationship with Post Holdings, I

  4. 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

  5. Slide 5: Q1 FY2025 Consumption and Key Metrics Executive Summary

    Q1 FY2025 Consumption and Key Metrics Executive Summary ● The convenient nutrition category showed continued momentum (+12%)1, with the ready-to-drink (“RTD”) category driving outsized growth (+18%); ready-to-mix (“RTM”) growth remained healthy. ● Premier Protein RTD shake brand metrics and consumpt

  6. Slide 6: Data Source Change

    Data Source Change • Effective with Q1 FY2025, we have changed the data source for tracked consumption: • Circana Multi Outlet+ with Convenience is the source for consumption in tracked channels (previous source was Circana Multi Outlet with Convenience) • Circana Multi Outlet+ with Convenience prov

  7. Slide 7: Ready-to-Drink Led Category Growth; Ready-to-Mix Growth Remained Healthy

    Ready-to-Drink Led Category Growth; Ready-to-Mix Growth Remained Healthy L13 L52 Growth % Dollar Volume Price/Mix Dollar Volume Price/Mix Ready-to-Drink +18% +14% +4% +16% +12% +4% 25% Ready-to-Mix +8% +9% -1% +8% +9% -1% 20% 15% YOY % Δ 10% 5% 0% 4WE 11-05-23 4WE 12-03-23 4WE 12-31-23 4WE 01-28-24

  8. Slide 8: Premier Protein RTD Shakes Drove Strong Consumption Across All Channels

    Premier Protein RTD Shakes Drove Strong Consumption Across All Channels Premier Protein RTD Shakes $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Club +21.2% +12.8% Mass +20.2% +28.7% Food +33.7% +23.6% eCommerce +48.2% +41.5% Total Consumption (tracked + untracked channels) +23.4% +18.9% Notes: T

  9. Slide 9: Premier Protein RTD Shake Consumption Growth Accelerated in Q1 FY2025

    Premier Protein RTD Shake Consumption Growth Accelerated in Q1 FY2025 Premier Protein RTD Shakes Rolling 13 week Total $ Consumption Sales $ Volume Jan 28'24 Jun 30'24 Jan 29 '23 Feb 26 '23 Apr 30 '23 Jul 2 '23 Apr 2 '23 Jul 30'23 Oct 29'23 Dec 31'23 Dec 29'24 Oct 1'23 Nov 26'23 Mar 3'24 Mar 31'24 D

  10. Slide 10: Q1 FY2025 Shipments Outpaced Consumption Ahead of Q2 Promotional Events

    Q1 FY2025 Shipments Outpaced Consumption Ahead of Q2 FY2025 Promotional Events Premier Protein RTD Shake Consumption vs. Shipments (13 Week Quarters) Trade Inventory Trade inventory Consumption and Trade inventory Consumption Consumption in line Consumption in line Trade Inventory Increase, Increase

  11. Slide 11: Premier Protein RTD TDPs Reached All Time High

    Premier Protein RTD TDPs Reached All Time High with Improved Supply and New Item Expansion 81 81 1,400 80 1,180 70 1,200 60 1,000 50 800 % ACV TDPs 705 40 600 30 400 20 200 10 0 0 Total Points of Distribution ACV Weighted Distribution Notes: Circana U.S. Multi Outlet+ with Convenience. 11

  12. Slide 12: Premier Protein Strong Growth in Household Penetration, Repeat and Buy Rate

    Premier Protein Has Strong Growth in Household Penetration, Repeat and Buy Rate Premier Protein Total Brand and RTD Shake Penetration RTD 49.0 HH Pen RTD 45.4 HH Pen 25.0 RTD 39.7 HH Pen 20.0 19.0 20.0 16.5 15.9 17.1 16.3 15.0 14.2 13.8 13.8 13.3 10.0 5.0 +16% +15% -16% -16% +24% +23% +20% +19% +16%

  13. Slide 13: Premier Protein RTD Share Remained Strong Through the Quarter

    Notes: 10 20 30 15 0 5 4WE 01-29-23 25 23.3 4WE 02-26-23 4WE 03-26-23 Circana U.S. Multi Outlet+ with Convenience. 4WE 04-23-23 4WE 05-21-23 4WE 06-18-23 4WE 07-16-23 4WE 08-13-23 4WE 09-10-23 Club Promotion 4WE 10-08-23 4WE 11-05-23 4WE 12-03-23 4WE 12-31-23 Club 4WE 01-28-24 Promotion 4WE 02-25-24

  14. Slide 14: Premier Protein Powder Continued Strong Growth Aided by Velocity and Distribution

    Premier Protein Powder Continued Strong Growth Aided by Velocity and Distribution Strength Premier Protein Powders $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Mass +9.2% +47.1% eCommerce +24.0% +48.7% Food +24.2% +19.2% Total Consumption (tracked channels) +24.4% +40.3% Notes: Total consumption

  15. Slide 15: Premier Protein Powders Continued Strong Growth Trajectory

    Premier Protein Powders Continued Strong Growth Trajectory Premier Protein Ready-to-Mix Powders Rolling 13 week Total $ Consumption Sales $ Volume Jan 28'24 Jun 30'24 Jan 29 '23 Jul 2 '23 Feb 26 '23 Apr 30 '23 Apr 2 '23 Jul 30'23 Oct 29'23 Dec 31'23 Dec 29'24 Oct 1'23 Nov 26'23 Mar 3'24 Mar 31'24 Ma

  16. Slide 16: Premier Protein Powder Distribution Growth Strong Year-over-Year

    Premier Protein Powder Distribution Growth Strong Year-over- Year 250 57 60 200 52 179 50 150 40 % ACV TDPs 30 100 100 20 50 10 0 0 Total Points of Distribution ACV Weighted Distribution Notes: Circana U.S. Multi Outlet+ with Convenience. 16

  17. Slide 17: Dymatize Primarily Driven by Specialty Softness and Tougher eCommerce Comparable

    Dymatize Primarily Driven by Specialty Softness and a Tougher Comparable in eCommerce Dymatize Powders $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks eCommerce -4.3% -6.6% Mass -0.6% +6.7% Specialty/All Other -18.2% -23.6% Food -13.5% -3.9% Club -13.2% -38.9% Total Consumption (tracked + untracked

  18. Slide 18: Dymatize Sequential Consumption Declined Primarily from Specialty Softness

    Dymatize Sequential Consumption Declined Primarily from Specialty Softness Dymatize Powders Rolling 13 week Total $ Consumption Sales $ Volume Jan 28'24 Jun 30'24 Jan 29 '23 Feb 26 '23 Apr 30 '23 Jul 2 '23 Apr 2 '23 Jul 30'23 Oct 29'23 Dec 31'23 Dec 29'24 Oct 1'23 Nov 26'23 Mar 3'24 Mar 31'24 Dec 1'

  19. Slide 19: Dymatize Powder TDP Levels Stable

    Dymatize Powder TDP Levels Stable 60 56 300 51 250 50 250 217 40 200 % ACV TDPs 30 150 20 100 50 10 0 0 Total Points of Distribution ACV Weighted Distribution Notes: Circana U.S. Multi Outlet+ with Convenience. 19

  20. Slide 20: BellRing's Complementary Powder Portfolio Remains a Strong and Meaningful Category Player

    Notes: 10 2 4 6 0 8 4.9 6.6 1.7 4WE 01-29-23 4WE 02-26-23 4WE 03-26-23 Circana U.S. Multi Outlet+ with Convenience. 4WE 04-23-23 4WE 05-21-23 4WE 06-18-23 4WE 07-16-23 4WE 08-13-23 Meaningful Category Player 4WE 09-10-23 4WE 10-08-23 Total BellRing Powders 4WE 11-05-23 4WE 12-03-23 4WE 12-31-23 4WE

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