Slide 1: Third Quarter 2025 Earnings Presentation
Krispy Kreme, Inc. THIRD QUARTER 2025 EARNINGS PRESENTATION NOVEMBER 6, 2025 Krispy Kreme | 3Q25 Earnings 1
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements Certain statements made in this presentation and on the conference call that this presentation accompanies are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be
Slide 3: Third Quarter Highlights
Third Quarter Highlights (vs Q3 2024) NET REVENUE: $375.3 MILLION “The third quarter marked a significant pivot as we implemented our comprehensive turnaround plan focused on Krispy Kreme’s two biggest ORGANIC REVENUE GROWTH1: opportunities: profitable U.S. expansion and 0.6% capital-light internati
Slide 4: Our Turnaround Plan: Deleverage the Balance Sheet and Drive Sustainable, Profitable Growth
Our Turnaround Plan: Deleverage the Balance Sheet and Drive Sustainable, Profitable Growth Refranchise Drive ROIC Improve financial flexibility through Reduce capital intensity by using refranchising international markets and existing assets and focusing on restructuring the joint venture in the fra
Slide 5: H2 Actions to Deleverage the Balance Sheet and Drive Sustainable, Profitable Growth
H2 Actions to Deleverage the Balance Sheet and Drive Sustainable, Profitable Growth Announced Q3 2025 Q2 2025 TARGET 1-2 INTERNATIONAL REFRANCHISING DEALS MAKING PROGRESS TOWARD SIGNING RESTRUCTURE JV IN THE WESTERN U.S. IN ACTIVE DISCUSSIONS TOWARD A MINORITY STAKE REMOVE COSTS FROM NOW-ENDED MCDON
Slide 6: Krispy Kreme | 3Q25 Earnings
Krispy Kreme | 3Q25 Earnings 6
Slide 7: Madrid, Spain
Madrid, Spain Krispy Kreme | 3Q25 Earnings 7
Slide 8: Appendix
Appendix
Slide 9: Adjusted EBITDA
ADJUSTED EBITDA We define “Adjusted EBITDA” as earnings before interest expense, net, income tax expense, and depreciation and amortization, with further adjustments for share-based compensation, certain strategic initiatives, acquisition and integration expenses, and certain other non-recurring, in
Slide 10: Organic Revenue (Decline)/Growth
ORGANIC REVENUE (DECLINE)/GROWTH Organic revenue (decline)/growth measures our revenue growth trends excluding the impact of acquisitions, divestitures, and foreign currency, and we believe it is useful for investors to understand the expansion of our global footprint through internal efforts. We de
Slide 11: Krispy Kreme | 3Q25 Earnings
Krispy Kreme | 3Q25 Earnings 11