Slide 1: Fiscal Q4 & FY 2026 Earnings Results
Fiscal Q4 & FY 2026 Earnings Results August 4, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements made in this presentation include statements that are forward-looking or that express management’s beliefs, expectations or hopes and are forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, among other
Slide 3: Kevin Hourican
Kevin Hourican CHAIR OF THE BOARD AND CHIEF EXECUTIVE OFFICER 3
Slide 4: Q4: Broad-Based Growth Across Every Segment
Q4: Broad-Based Growth Across Every Segment Fiscal Q4 2026 Highlights +4.7% +3.7% +4.1% $1.53 Sales growth to $22.1 billion Gross profit dollar Adjusted operating income1 Adjusted EPS1 increased 3.4% growth to $4.1 billion growth to $1.1 billion +2.6% +4.7% $259 million +6.7% +15.7% USFS Local Case
Slide 5: Food Away From Home Continues to Gain Share
Food Away From Home Continues to Gain Share Sysco is the Market Leader in FAFH with Leading Market Multi-Decade Trend of Consumer Spending Favoring Share Position Across Key 70% Food Away From Home Occasions Remains Intact Verticals 65% 60% Share Growth of Food Away From Home Driven By : Wallet Shar
Slide 6: Sysco is #1 in an Attractive, Growing Industry
Sysco is #1 in an Attractive, Growing Industry Total Addressable Market Since 2000 $366 B $377 B 18% $350 B $355 B $298 B $264 B $230 B $220 B $197 B $161 B $377B 2000 2005 2010 2015 2020 2021 2022 2023 2024 2025 Source: Technomic U.S. Foodservice Industry Wallchart for Calendar Year as of January 2
Slide 7: Sysco's Local Performance Has Meaningful Momentum into FY27
Sysco’s Local Performance Has Meaningful Momentum into FY27 Projecting ~2.5% local case growth in FY27 driven by: 4.0% 3.3% 3.0% 2.6% ~2.5% • Sysco-Specific Initiatives 2.0% 1.2% Supporting: 1.0% • Balanced, Quality New 0.0% Business (1.0%) • Sequentially Lower (0.2%) Customer Churn (2.0%) (1.4%) •
Slide 8: Sysco's Local Performance Has Meaningful Momentum into FY27
Sysco’s Local Performance Has Meaningful Momentum into FY27 4.0% 2.9% 3.0% ~2.5% 2.0% Projecting approximately 2.5% local case growth 1.0% 0.5% in FY27, reflecting a 2-year stack of 400+ bps 0.0% (1.0%) (1.4%) (2.0%) (3.0%) FY 2025 1H26 2H26 FY 2027E Data represents USFS local case growth. 8
Slide 9: Q4 2026 Consolidated Results
Sales growth of 4.7% YoY Q4 2026 Consolidated Results • • USFS sales growth +4.4% • International sales growth +6.7% YoY Net Sales Gross Profit Adj. Operating Income 1 in Billions in Billions in Billions • Gross profit dollar growth 4.7% 3.7% 4.1% of 3.7% driven by our YoY YoY YoY organization-wide
Slide 10: Acquisition of Restaurant Depot: A Highly Compelling Transaction
Acquisition of Restaurant Depot: A Highly Compelling Transaction Creating a Preeminent Delivering Significantly Unlocking Meaningful Multi-Channel Foodservice Enhanced Financial Profile2 Value Creation Distribution Platform Foodservice Revenue Adj. EBITDA3 FCF3,4 #1 Distributor Mid to High ~45% ~55%
Slide 11: $100 Million in FY27 Cost Out, Driven by Technology & AI Transformation Initiatives
$100 Million in FY27 Cost Out, Driven by Technology & AI Transformation Initiatives The Framework AI Focus Areas Why It Matters Tech & AI-enabled tools: Better • Unlock durable competitive 1 Improved service to customers and advantages across sales, supply improved insights to colleagues. chain, and
Slide 12: Brandon Sewell
Brandon Sewell INTERIM CHIEF FINANCIAL OFFICER 12
Slide 13: Q4 2026 Consolidated Results
• Sales growth of 4.7% YoY Q4 2026 Consolidated Results • USFS sales growth +4.4% • International sales growth +6.7% YoY Net Sales Gross Profit Adj. Operating Income 1 in Billions in Billions in Billions • Gross profit dollar growth 4.7% 3.7% 4.1% of 3.7% driven by our YoY YoY YoY organization-wide
Slide 14: Q4 2026 U.S. Foodservice Results
Q4 2026 U.S. Foodservice Results • USFS sales growth +4.4% • Total case volume +2.5% Net Sales Adj. Operating Income 1 • Local case volume in Billions in Billions +2.6%, a 130-basis point 4.4% 0.1% YoY YoY sequential improvement on a two- $15.4 $1.1 $1.1 year stack basis $14.8 • Gross profit dollar
Slide 15: Q4 2026 International Results
Q4 2026 International Results • Sales increased1 6.7% YoY; Net Sales Adj. Operating Income 1 increased 5.6% on a in Billions in Millions constant currency basis 6.7% 15.7% YoY YoY • Gross profit dollar growth of 7.3% to $909 million; $4.2 $228 increased 6.0% on a constant currency basis1 $3.9 1 • Ad
Slide 16: Q4 2026 SYGMA Results
Q4 2026 SYGMA Results • Sales growth of 3.1% YoY Net Sales Operating Income despite continued in Billions in Millions challenged foot traffic 3.1% 11.1% environment for chains YoY YoY • Operating income growth $2.2 $30 of 11.1% YoY driven by $2.2 increased strength in supply chain operations $27 Q4
Slide 17: FY 2026 Consolidated Results
FY 2026 Consolidated Results • Sales growth of 3.9% YoY • USFS sales growth +3.2% • International sales Net Sales Gross Profit Adj. Operating Income 1 in Billions in Billions in Billions growth +7.6% YoY 3.9% 4.5% 2.6% • Gross profit dollar growth YoY YoY YoY of 4.5% was driven by positive momentum
Slide 18: FY 2026 U.S. Foodservice Results
FY 2026 U.S. Foodservice Results • USFS sales growth +3.2% • Total case volume +1.4% • Local case volume Net Sales Adj. Operating Income 1 +1.7%, a 310-basis point in Billions in Billions sequential 3.2% 0.7% improvement YoY YoY • Gross profit dollar growth of $3.7 $58.8 $3.6 3.3% to $11.2 billion d
Slide 19: FY 2026 International Results
FY 2026 International Results • Sales increased 7.6% YoY; Net Sales Adj. Operating Income 1 increased 4.1% on a in Billions in Millions 1 constant currency basis 7.6% 16.4% YoY YoY • Gross profit dollar growth of 9.4% to $3.4 billion; $681 $16.0 increased 5.4% on a constant currency basis1 $14.9 1 •
Slide 20: FY 2026 SYGMA Results
FY 2026 SYGMA Results • Sales growth of 2.5% YoY Net Sales Operating Income within a challenged chain in Billions in Millions restaurant foot traffic 2.5% 16.0% environment YoY YoY $94 • Operating income growth $8.6 of 16.0% YoY driven by $8.4 increased strength in supply chain operations $81 FY 202
Slide 21: Restaurant Depot is the Undisputed U.S. Leader in Wholesale Cash & Carry
Restaurant Depot is the Undisputed U.S. Leader in Wholesale Cash & Carry #1 U.S. Cash & Carry Wholesaler to Restaurants and Small Businesses Unique value proposition to small businesses as a low-cost provider with a wide assortment of high-quality, foodservice products Whitestone, NY ~10,000 ~$16B ~
Slide 22: Strong Cash Generation Drives Shareholder Returns
Strong Cash Generation Drives Shareholder Returns On-Track to return $20.7 $21.7 approximately $19.5 $21.7 billion $17.2 in cumulative cash $15.0 to shareholders $13.5 over 13 years $12.0 Dividends $11.1 $9.4 Share Repurchase $7.6 Returned ~$1.2 billion $5.9 in cash to shareholders $3.3 in FY26 $0.7
Slide 23: Strong Commitment to Rapid Deleveraging
Strong Commitment to Rapid Deleveraging • Ended the quarter with a 2.7x net debt leverage ratio • Investment grade credit Net Debt to Adjusted EBITDA1 ratings maintained Leverage Trajectory • Committed to ~1.0x net 5x leverage reduction within 24 4.5x months post-close 4x 3.5x • Long-term target rem
Slide 24: Fiscal Year 2027 Guidance
Fiscal Year 2027 Guidance • Sales expectations include: • volume growth, Sales Growth Adj. EPS Growth1 • inflation of ~1.5%-2%, • ~2% related to 53rd week 6-7% 9-11% • FY27 adjusted EPS growth expected at high-end of earnings algorithm including: Targeting ~2.5% local case growth • ~$100 million in
Slide 25: At the heart of food and service
S/sco At the heart of food and service
Slide 26: Non-GAAP Reconciliations
NON-GAAP RECONCILIATIONS food and service
Slide 27: Impact of Certain Items
Impact of Certain Items The discussion of our results includes certain non-GAAP financial measures, including EBITDA and adjusted EBITDA, that we believe provide important perspective with respect to underlying business trends. Other than EBITDA and free cash flow, any non-GAAP financial measures wi
Slide 28: Non-GAAP Reconciliation: Impact of Certain Items Q4
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Impact of Certain Items Q4 FY26 vs. Q4 FY25 (Dollars in Millions, Except for Share and Per Share Data) 13-Week Period Ended Jun. 27, 2026 13-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Change Sales (G
Slide 29: Non-GAAP Reconciliation: Impact of Certain Items Q4 (continued)
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Impact of Certain Items Q4 FY26 vs. Q4 FY25 (Dollars in Millions, Except for Share and Per Share Data) continued 13-Week Period Ended Jun. 27, 2026 13-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Chang
Slide 30: Non-GAAP Reconciliation: Impact of Certain Items Q4 (continued)
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Impact of Certain Items Q4 FY26 vs. Q4 FY25 (Dollars in Millions, Except for Share and Per Share Data) continued 13-Week Period Ended Jun. 27, 2026 13-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Chang
Slide 31: Non-GAAP Reconciliation: Impact of Certain Items FY26
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Impact of Certain Items FY26 vs. FY25 (Dollars in Millions, Except for Share and Per Share Data) 52-Week Period Ended Jun. 27, 2026 52-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Change Sales (GAAP) $
Slide 32: Non-GAAP Reconciliation: Impact of Certain Items FY26 (continued)
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Impact of Certain Items FY26 vs. FY25 (Dollars in Millions, Except for Share and Per Share Data) continued 52-Week Period Ended Jun. 27, 2026 52-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Change Oper
Slide 33: Non-GAAP Reconciliation: Impact of Certain Items FY26 (continued)
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Impact of Certain Items FY26 vs. FY25 (Dollars in Millions, Except for Share and Per Share Data) continued 52-Week Period Ended Jun. 27, 2026 52-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Change Net
Slide 34: Segment Results Non-GAAP Reconciliation Q4 FY26
Sysco Corporation and its Consolidated Subsidiaries Segment Results Non-GAAP Reconciliation (Unaudited) Impact of Certain Items Q4 FY26 vs Q4 FY25 (Dollars in Millions) 13-Week Period Ended Jun. 27, 2026 13-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Change U.S. FOODSERVICE OPERATIONS Sa
Slide 35: Segment Results Q4 FY26 (continued)
Sysco Corporation and its Consolidated Subsidiaries Segment Results Non-GAAP Reconciliation (Unaudited) Impact of Certain Items Q4 FY26 vs Q4 FY25 (Dollars in Millions) continued 13-Week Period Ended Jun. 27, 2026 13-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Change INTERNATIONAL FOODSE
Slide 36: Segment Results Q4 FY26 (continued)
Sysco Corporation and its Consolidated Subsidiaries Segment Results Non-GAAP Reconciliation (Unaudited) Impact of Certain Items Q4 FY26 vs Q4 FY25 (Dollars in Millions) continued 13-Week Period Ended Jun. 27, 2026 13-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Change GLOBAL SUPPORT CENTE
Slide 37: Segment Results Q4 FY26 (continued)
Sysco Corporation and its Consolidated Subsidiaries Segment Results Non-GAAP Reconciliation (Unaudited) Impact of Certain Items Q4 FY26 vs Q4 FY25 (Dollars in Millions) continued 13-Week Period Ended Jun. 27, 2026 13-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Change TOTAL SYSCO Operatin
Slide 38: Segment Results FY26 vs FY25
Sysco Corporation and its Consolidated Subsidiaries Segment Results Non-GAAP Reconciliation (Unaudited) Impact of Certain Items FY26 vs FY25 (Dollars in Millions) 52-Week Period Ended Jun. 27, 2026 52-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Change U.S. FOODSERVICE OPERATIONS Sales (G
Slide 39: Segment Results FY26 (continued)
Sysco Corporation and its Consolidated Subsidiaries Segment Results Non-GAAP Reconciliation (Unaudited) Impact of Certain Items FY26 vs FY25 (Dollars in Millions) continued 52-Week Period Ended Jun. 27, 2026 52-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Change INTERNATIONAL FOODSERVICE
Slide 40: Segment Results FY26 (continued)
Sysco Corporation and its Consolidated Subsidiaries Segment Results Non-GAAP Reconciliation (Unaudited) Impact of Certain Items FY26 vs FY25 (Dollars in Millions) continued 52-Week Period Ended Jun. 27, 2026 52-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Change OTHER Operating (loss) inc
Slide 41: Segment Results FY26 (continued)
Sysco Corporation and its Consolidated Subsidiaries Segment Results Non-GAAP Reconciliation (Unaudited) Impact of Certain Items FY26 vs FY25 (Dollars in Millions) continued 52-Week Period Ended Jun. 27, 2026 52-Week Period Ended Jun. 28, 2025 Change in Dollars %/bps Change TOTAL SYSCO Operating inco
Slide 42: Earnings Before Interest, Taxes, Depreciation and Amortization
Earnings Before Interest, Taxes, Depreciation and Amortization EBITDA represents net earnings (loss) plus (i) interest expense, (ii) income tax expense and benefit, (iii) depreciation and (iv) amortization. The net earnings (loss) component of our EBITDA calculation is impacted by Certain Items that
Slide 43: Impact of Certain Items on EBITDA (Q4 FY26 vs. Q4 FY25)
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Impact of Certain Items on Earnings Before Interest, Taxes, Depreciation and Amortization (Q4 FY26 vs. Q4 FY25) (Dollars in Millions) 13-Week Period Ended Jun. 27, 2026 13-Week Period Ended Jun. 28, 2025 Change i
Slide 44: Net Debt to Adjusted EBITDA
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Net Debt to Adjusted EBITDA (In Millions) Net Debt to Adjusted EBITDA is a non-GAAP financial measure frequently used by investors and credit rating agencies. It is an important measure used by management to eval
Slide 45: Impact of Certain Items on EBITDA (Trailing Twelve Months)
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Impact of Certain Items on Earnings Before Interest, Taxes, Depreciation and Amortization (Trailing Twelve Months) (In Millions) 13-Week 13-Week 13-Week 13-Week Period Ended Period Ended Period Ended Period Ended
Slide 46: Net Debt to Adjusted EBITDA
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Net Debt to Adjusted EBITDA (In Millions) Net Debt to Adjusted EBITDA is a non-GAAP financial measure frequently used by investors and credit rating agencies. It is an important measure used by management to eval
Slide 47: Impact of Certain Items on EBITDA (Trailing Twelve Months)
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Impact of Certain Items on Earnings Before Interest, Taxes, Depreciation and Amortization (Trailing Twelve Months) (In Millions) 13-Week 13-Week 13-Week 13-Week Period Ended Period Ended Period Ended Period Ended
Slide 48: Net Debt to Adjusted EBITDA
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Net Debt to Adjusted EBITDA (In Millions) Net Debt to Adjusted EBITDA is a non-GAAP financial measure frequently used by investors and credit rating agencies. It is an important measure used by management to eval
Slide 49: Impact of Certain Items on EBITDA (Trailing Twelve Months)
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Impact of Certain Items on Earnings Before Interest, Taxes, Depreciation and Amortization (Trailing Twelve Months) (In Millions) 13-Week 13-Week 13-Week 13-Week Period Ended Period Ended Period Ended Period Ended
Slide 50: Projected Adjusted EBITDA Guidance
Projected Adjusted EBITDA Guidance Adjusted EBITDA is a non-GAAP financial measure; however, we cannot predict with certainty the particular certain items that would be excluded from the calculation of this measure for future periods. Due to these uncertainties, we cannot provide a quantitative reco
Slide 51: Net Debt to Adjusted EBITDA Leverage Ratio Targets
Net Debt to Adjusted EBITDA Leverage Ratio Targets We expect to achieve our long-term net debt to adjusted EBITDA leverage ratio target. We cannot predict with certainty when we will achieve these results or whether the calculation of our EBITDA will be on an adjusted basis in future periods to excl
Slide 52: Projected Adjusted EPS Guidance
Projected Adjusted EPS Guidance Adjusted earnings per share is a non-GAAP financial measure; however, we cannot predict with certainty the magnitude or scope of certain items that would be included in the most directly comparable GAAP measure for the relevant future periods, and such items may be si
Slide 53: Adjusted EBITDA to Free Cash Flow Conversion
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Adjusted EBITDA to Free Cash Flow Conversion (Trailing Twelve Months Ended Dec. 27, 2025, Dollars in Millions) EBITDA represents net earnings (loss) plus (i) interest expense, (ii) income tax expense and benefit,
Slide 54: Adjusted EBITDA to Free Cash Flow Conversion (continued)
Sysco Corporation and its Consolidated Subsidiaries Non-GAAP Reconciliation (Unaudited) Adjusted EBITDA to Free Cash Flow Conversion (Trailing Twelve Months Ended Dec. 27, 2025, Dollars in Millions) continued 13-Week 13-Week 13-Week 13-Week 52- Week Period Ended Period Ended Period Ended Period Ende
Slide 55: Pro Forma Non-GAAP Reconciliation
Sysco Corporation and its Consolidated Subsidiaries Pro Forma Non-GAAP Reconciliation (Unaudited) Impact of Certain Items (Dollars in Millions) Annualized Net Cost 52-Week Period Ended Dec. 27, 2025 Sysco Restaurant Depot Synergies Pro Forma Sales (GAAP) $82,646 $15,812 $— $98,458 EBITDA adjusted fo