Mondelez International, Inc. · NASDAQ:MDLZ
Mondelez International — CAGNY 2026
74 slides from Mondelez International's conference presentation, Feb 17, 2026
Slide 1: CAGNY 2026: A Proven Growth Model, Positioned to Reaccelerate Growth
CAGNY 2026 A PROVEN GROWTH MODEL, POSITIONED TO REACCELERATE GROWTH February 17, 2026
Slide 2: Forward-Looking Statements; Non-GAAP Financial Measures
FORWARD-LOOKING STATEMENTS This presentation and accompanying prepared remarks contain forward-looking statements. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws. Words, and variations of words, such as “will
Slide 3: What You Will Hear Today
WHAT YOU WILL HEAR TODAY A STRUCTURALLY STRONGER MONDELEZ UNDERPINS GREATER CONFIDENCE IN CONSISTENT DELIVERY OF ALGORITHM What’s different today — and why it matters for growth, resilience, and returns Growth Algorithm: North America: Europe: Emerging Markets: Cocoa: balanced top-line, focused on e
Slide 4: Agenda
AGENDA Executing our strategy to deliver sustainable, long-term growth – Dirk Van de Put North America: strengthening our business and growth trajectory – Dirk Van de Put Europe: leveraging iconic brands to drive long-term category growth – Dirk Van de Put Emerging Markets: expanding a powerful engi
Slide 5: Consistent Track Record, Long-Term Outlook Aligned with Algorithm
CONSISTENT TRACK RECORD, WITH ‘25 AND ’26 IMPACTED BY COCOA – LONG-TERM OUTLOOK ALIGNED WITH OUR ALGORITHM Key Performance Metric 2020-20241 2025 Future – On Algo – Volume Growth2 +1.6% (2.9)% Organic Net Revenue Growth +8.1% +4.3% +3-5% Adjusted Gross Profit Growth3 +8.7% (11.4)% Adjusted EPS Growt
Slide 6: Revenue Mix Continuing to Shift Toward Core Categories
REVENUE MIX CONTINUING TO SHIFT TOWARD CORE CATEGORIES Net Revenues by Category 100% 100% 100% Other 10% Other 20% Other 41% Core 90% Core 80% Core 59% 2012 2025 Vision Execution of 4 Pillar Strategy 6
Slide 7: Snacking Is Embedded in Daily Life
SNACKING IS EMBEDDED IN DAILY LIFE – AND CONSUMERS WANT MORE FROM IT It’s frequent IT’S COMFORTING IT’S adventurous 3.5x 1 ~50% 2 ~60% 3 Snack occasions per Snacking positively Prefer new taste person per day, globally impacts well being combinations 7 1. Source: MDLZ Global Demand Space Data, 2025;
Slide 8: Leader in Attractive and Resilient Categories
LEADER IN ATTRACTIVE AND RESILIENT CATEGORIES Strong Positions in Our Core Snacks Core Snacks Categories Categories, Significant Headroom Growing Ahead of Other Snacks and Food MDLZ Global Position & Share1 Market Size1 Growth of MDLZ Core Snacks vs. Other Snacks & Food2 #1 Biscuits 17.0% Sweet & Sa
Slide 9: Huge Volume & Value Growth Potential for Core Categories
HUGE VOLUME & VALUE GROWTH POTENTIAL FOR MDLZ CORE CATEGORIES 2025 Core Snacks Strong Global Value Growth Expected Over KG Per Capita Consumption1 Next 5 Years on Core Snacks1,2 UK 21.9 Germany 19.5 $513B USA 17.5 ~+5% $394B CAGR France 16.0 Mexico 10.0 Brazil 9.9 China 2.9 India 2.0 Global ~5.0 KG
Slide 10: Diversified Global Footprint Supports Durable Growth
DIVERSIFIED GLOBAL FOOTPRINT SUPPORTS DURABLE GROWTH Emerging Markets Growing Double Digits Durable Long-Term Growth – All Regions Europe Org. Net Revenue L5Y CAGR: AMEA Emerging 40% Markets +8.2% 39% Org. Net Revenue L5Y CAGR: Org. Net Revenue +8.6% L5Y CAGR: 20% 2025 Net +13.4% 2025 Net Revenues R
Slide 11: Iconic Brands with Massive Consumer Equity
ICONIC BRANDS WITH MASSIVE CONSUMER EQUITY Biscuits and Baked Snacks Chocolate % NR Above Category Average % NR Above Category Average meaningful Different Salient meaningful Different Salient 95% 78% 96% 95% 74% 94% vs. PY –pp +4pp +2pp vs. PY +3pp +18pp +1pp Scaled brands, consistent Highly meanin
Slide 12: Top-Tier Capabilities Across the Organization
TOP-TIER CAPABILITIES ACROSS THE ORGANIZATION Leverage critical mass in Superior Sales and key Emerging Markets Marketing execution Localized supply chain Deep category R&D & cost discipline expertise Together, these capabilities create a scalable, hard-to-replicate growth system 12
Slide 13: Engaged Culture Underpinned by Growth Mindset
ENGAGED CULTURE UNDERPINNED BY GROWTH MINDSET Culture Principles • Local-first operating model • Top engagement vs peer companies • Incentives tied to profitable growth • Employer of choice What This Enables • Faster decision-making • Greater accountability • Stronger ownership mindset An engaged cu
Slide 14: Compounding Competitive Advantages Drive Long-Term Algorithm Delivery
COMPOUNDING COMPETITIVE ADVANTAGES DRIVE LONG-TERM ALGORITHM DELIVERY Enduring Competitive Advantages Deliver Consistent LT Algorithm Global Footprint 3-5% Organic Net Revenue Growth Iconic Core Brands Categories HSD% Adj. EPS Growth (cst fx) Connected Culture Advanced Capabilities $3B+ Free Cash Fl
Slide 15: Agenda
AGENDA Executing our strategy to deliver sustainable, long-term growth – Dirk Van de Put North America: strengthening our business and growth trajectory – Dirk Van de Put Europe: leveraging iconic brands to drive long-term category growth – Dirk Van de Put Emerging Markets: expanding a powerful engi
Slide 16: North America: Iconic Business Led by US Biscuits
NORTH AMERICA: ICONIC BUSINESS LED BY US BISCUITS Solid Organic NR Growth Market and Brand Leadership ~+4% CAGR Over Last 5 Years CANADA Give & GO 10% ~42% 14 Brands with 7% Share in US $200MM+ NA Biscuits Net Revenue Ventures 6% 2025 Net $2B+ Revenue Oreo Net US CANDY 7% Revenue ~$11B 63% +1MM US S
Slide 17: US Consumer Still Loves Snacking, Despite Economic Pressure
US CONSUMER STILL LOVES SNACKING, DESPITE BEING PRESSURED BY ECONOMIC CONDITIONS Penetration Frequency Brand Health 94% of households buy Shoppers, on average, buy Oreo #1 in unaided Biscuits, flat vs PY Biscuits 22 times in a year, awareness among sweet down -0.7% vs PY snacks brands with significa
Slide 18: The Challenges: US Consumer Behaviors Are Changing
THE CHALLENGES: US CONSUMER BEHAVIORS ARE CHANGING Value & Budget Pressure 1 Average Grocery basket size per trip flat over last 2 years 2 Unease with current price levels 3 Shifting channels for value Consumption Pattern Shifts 4 High income cohort driving growth in premium segment 5 Health conscio
Slide 19: Drive Growth Amid Flat US Average Basket Size
1 DRIVE GROWTH AMID FLAT US AVERAGE BASKET SIZE US Avg Basket Size Last 2 Year CAGR +1% Actions to Improve Growth Average Value/Trip in Abs. $ Incremental investments to scale awareness and boost Share of Voice +1% CAGR Bigger, more compelling in-store activations +4% CAGR $39.6 $40.1 Address afford
Slide 20: Consumers Show Unease with Current Price Levels
2 CONSUMERS SHOW UNEASE WITH CURRENT PRICE LEVELS Total Snacking Inflation Outpacing Actions to Improve Growth Wage Growth Cumulative Inflation and Wage Growth Expand affordable offerings with right 2020-2025 price points Leverage DSD to drive visibility, via 42% incremental displays, on value offer
Slide 21: Continue Expansion in Under-Indexed Channels
3 CONTINUE EXPANSION IN UNDER-INDEXED CHANNELS MDLZ US Biscuits Market Share by Channel Actions to Improve Growth Expand total distribution points Leverage PPA, especially single serve, variety packs and club packs Activate Supply Chain program for capacity Mass Food Value eCommerce Club Convenience
Slide 22: Scale Awareness and Offerings in Premium Indulgence
4 SCALE AWARENESS AND OFFERINGS IN PREMIUM INDULGENCE High Income Cohort Driving Premium Actions to Improve Growth Indulgence Segment Growth Total Snacking Value per Buyer National Awareness on Tate’s portfolio $1,305 3YR CAGR $1,259 Scale Oreo Thins in evening adult $1,239 3.5% indulgent occasion $
Slide 23: Capture Incremental Opportunity in Health-Conscious Trends
5 CAPTURE INCREMENTAL OPPORTUNITY IN HEALTH-CONSCIOUS TRENDS Growth Stronger in Better-For-You Actions to Improve Growth and High Protein Segments Better-For-You High Protein Oreo Zero Sugar launch, increase Oreo Gluten Free awareness Scale Good Thins in cracker, double-down on belVita Strengthen ou
Slide 24: Securing Our Brands' Right to Win in New Snacking Occasions
6 SECURING OUR BRANDS’ RIGHT TO WIN IN NEW SNACKING OCCASIONS On-the-Go Consumption Actions to Improve Growth Occasion Increasing 1 in 4 snacks are eaten away from home Scale up Minis portfolio to capture Munching occasion Expand multipacks and immediate consumption range for On-The-Go Leverage belV
Slide 25: Activate Supply Chain Program for Long-Term Growth
ACTIVATE SUPPLY CHAIN PROGRAM FOR LONG-TERM GROWTH Conversion Cost Per KG in Current Multi-Year Program to Boost US Biscuits Network Supply Chain Capabilities Modernize & upgrade US Biscuits operations Multi-Year Productivity Increase capacity on key Biscuits and Cakes Opportunity & Pastries platfor
Slide 26: In Summary: Committed to Improve Performance of North America
IN SUMMARY: COMMITTED TO IMPROVE PERFORMANCE OF NORTH AMERICA Accelerate consumer-centric offerings, leveraging our 1 stable of core and on-trend brands, across all channels Increase W. Media investments to drive awareness, 2 penetration, frequency and buy rate 3 Activate Supply Chain program for lo
Slide 27: Agenda
AGENDA Executing our strategy to deliver sustainable, long-term growth – Dirk Van de Put North America: strengthening our business and growth trajectory – Dirk Van de Put Europe: leveraging iconic brands to drive long-term category growth – Dirk Van de Put Emerging Markets: expanding a powerful engi
Slide 28: Europe: Large, Profitable Region with Stable of Iconic Brands
EUROPE: LARGE, PROFITABLE REGION WITH STABLE OF ICONIC BRANDS Robust Organic NR Growth Category Leaders Across Many Markets Last 5 Year CAGR at ~+8% Gum, Candy, Cakes & Other 19 13 Brands with Pastries 6% Markets $200MM+ $3B+ with leading 8% position in core Net Revenue categories Meals 10% Milka Ne
Slide 29: Chocolate Category Strong Despite Significant Cocoa-Led Pricing
CHOCOLATE CATEGORY STRONG DESPITE SIGNIFICANT COCOA-LED PRICING Europe Chocolate Category Value Growth Range of Attractive Qualities Last 5 Year CAGR at +7% Chocolate Category Value Growth Consistent Growth +11.3% High brand loyalty +9.5% +7.9% Low cross-substitution Historically moderate elasticity
Slide 30: The Challenges: Cocoa-Led Pricing Volatility Affecting Europe Chocolate
THE CHALLENGES: COCOA-LED PRICING VOLATILITY AFFECTING EUROPE CHOCOLATE PERFORMANCE 1 Pricing & PPA impacting volumes 2 Different pricing tactics by competition due to: • Lower cocoa content • Private company dynamics • Minimal PPA 3 Elevated elasticity in select market segments 4 Some PPA did not a
Slide 31: Boost Our Growth in Europe Chocolate Through Targeted Activities
BOOST OUR GROWTH IN EUROPE CHOCOLATE THROUGH TARGETED ACTIVITIES 1 Right price points and increasing brand investments 2 Expand portfolio across chocolate segments 3 Drive growth in Premium chocolate 4 Increase presence in under-indexed channels 5 Strengthen resilience across our cocoa supply chain
Slide 32: Grow Consumption by Offering Right Value & Brand Investments
1 GROW CONSUMPTION BY OFFERING RIGHT VALUE & BRAND INVESTMENTS Sustained Organic NR Growth Actions to Improve Growth in Europe Chocolate MDLZ Europe Chocolate Organic NR Growth Offer Right Value for Consumer • Expand PPA • Adapt to right Price Points +LDD% Increase Brand Investment +LDD% • Distort t
Slide 33: Broaden Offerings Across Chocolate Segments & Choco-Bakery
2 BROADEN OFFERINGS ACROSS CHOCOLATE SEGMENTS & CHOCO-BAKERY Grow Under-Indexed Products Actions to Improve Growth MDLZ Chocolate Share by Segment Evolve portfolio across chocolate segments and adjacencies: • Expand Bars portfolio • Scale filled tablets • Drive Choco-bakery through innovation and di
Slide 34: Participate Further in Premium Chocolate
3 PARTICIPATE FURTHER IN PREMIUM CHOCOLATE 2025 Premium Chocolate Actions to Improve Growth RSV per KG >2x vs Mainstream Premium and Mainstream RSV per KG Unleash Toblerone: • Drive penetration • Win in Gifting and Seasons • Premiumization led by innovation >2X Double-down on indulgence platforms vi
Slide 35: Increase Presence in Under-Indexed Channels
4 INCREASE PRESENCE IN UNDER-INDEXED CHANNELS Grow Under-Indexed Channels Actions to Improve Growth MDLZ Chocolate Share by Channel Leverage PPA to expand distribution Win in immediate consumption with entry sizes Grow Away-From-Home channel E-Com Traditional Hyper/ Mini Supers Discounters Mass Mark
Slide 36: Strengthen Resilience Across Our Cocoa Supply Chain
5 STRENGTHEN RESILIENCE ACROSS OUR COCOA SUPPLY CHAIN 1 Risk Management & Origin Flexibility 2 Our Sustainability Programs 3 Strategic Sourcing & Large-Scale Farming 4 Cocoa Alternatives 36
Slide 37: Stabilizing Cocoa Prices: Long-Term Benefits, Short-Term Pressures
STABILIZING COCOA PRICES BENEFICIAL TO LONG-TERM CATEGORY HEALTH AND PROFITABILITY BUT CREATES SHORT-TERM PRESSURES FY Average London Cocoa Prices (GBP/Ton) Cocoa Stability Drives Long-Term Benefits • Allows for a return to normalized category ~£6500 health and competitive landscape ~£5900 ‒ Consump
Slide 38: In Summary: Confident in Plans for Sustained Growth in Europe Chocolate
IN SUMMARY: CONFIDENT IN OUR PLANS TO DELIVER SUSTAINED GROWTH IN EUROPE CHOCOLATE Drive superior value, innovation and in-store activations 1 underpinned by sustained investments Enable sustained growth via expansion in chocolate 2 segments, adjacencies and under-indexed channels 3 Assure Long-Term
Slide 39: Agenda
AGENDA Executing our strategy to deliver sustainable, long-term growth – Dirk Van de Put North America: strengthening our business and growth trajectory – Dirk Van de Put Europe: leveraging iconic brands to drive long-term category growth – Dirk Van de Put Emerging Markets: expanding a powerful engi
Slide 40: Emerging Markets Total Snacking Set to Grow to $500B+ by 2030
EMERGING MARKETS TOTAL SNACKING SET TO GROW TO $500B+ BY 2030 Emerging Markets Total Snacking Size ~9% ~$530B CAGR ~10% ~$530B CAGR ~$350B Opportunity by 2030 ~$220B 2020 2025 2030 40 Source: Euromonitor 2025; Total Snacking: Biscuits, Chocolate, Salty Snacks, Ice Cream, Candy, Cakes & Pastries, Nut
Slide 41: Emerging Markets Projected to Grow Ahead of Developed Markets
EMERGING MARKETS PROJECTED TO GROW AHEAD OF DEVELOPED MARKETS Disposable Income Growth Snack Industry Growth 5 Year CAGR 2026 – 2030 (5Y CAGR) 2026 – 2030 (5Y CAGR) ~9% ~9% >2x >2x Faster Faster ~4% ~4% Emerging Developed Emerging Developed 41 Source: Euromonitor 2025
Slide 42: Strong Competitive Moat in Emerging Markets Led by Local-First Model
HOW MONDELEZ WINS: STRONG COMPETITIVE MOAT IN EMERGING MARKETS LED BY LOCAL-FIRST MODEL Iconic brands Scaled supported by Route-to-Market top-tier marketing capabilities Advantaged, Strong localized supply competencies led chain and R&D by growth mindset 42
Slide 43: What This Advantaged Exposure and Proven Playbook Deliver
WHAT THIS ADVANTAGED EXPOSURE AND PROVEN PLAYBOOK DELIVER Increasing scale and Strong presence in next Sustained, volume-led relevance in China, India, wave of EMs: Southeast organic growth across Brazil, and Mexico Asia, Sub-Saharan Africa, priority markets (~45% of Emerging Western Andean and (MSD
Slide 44: A Closer Look at the Top 4 Emerging Markets
A CLOSER LOOK AT THE TOP 4 MARKETS THAT ACCOUNT FOR ABOUT HALF OF OUR EMERGING MARKET REVENUES… China Mexico India Brazil Top 4 markets delivered +LDD% organic growth last 5 years 44
Slide 45: China: Global Biscuits Leader with Local Strength
CHINA: GLOBAL BISCUITS LEADER WITH LOCAL STRENGTH China Opportunity China at a Glance Second largest economy +HSD% ~$2B Vol. Led Organic NR Growth Net Revenue Robust growth: ~5% GDP L5Y CAGR (L5Y CAGR) ~3MM Stores Massive consumer base: 1.4B #1 #2 in Biscuits #3 ~18% in Gum in Cakes Rising disposabl
Slide 46: China: Key Initiatives to Drive Volume-Led Growth
CHINA: KEY INITIATIVES TO DRIVE VOLUME-LED GROWTH 1 Accelerate offline distribution to expand reach and availability Spotlight 2 Win in digital commerce by strengthening social commerce & quick commerce 3 Scale Cakes via Evirth M&A and Innovation 46
Slide 47: Offline Distribution Is a Multi-Year, High-Confidence Growth Lever
CHINA SPOTLIGHT 1 OFFLINE DISTRIBUTION IS A MULTI-YEAR, HIGH-CONFIDENCE GROWTH LEVER Runway to Reach More Stores Strengthening Modern Trade, Traditional Trade and Emerging Channels MDLZ Store Coverage ~6MM Total Store Increase coverage: wholesalers & digital RTM Universe Drive value offerings and in
Slide 48: India: Taste of Nation Chocolate with Significant Growth Runway
INDIA: TASTE OF NATION CHOCOLATE WITH SIGNIFICANT GROWTH RUNWAY India Opportunity India at a Glance Robust growth: ~7%+ GDP L5Y CAGR ~4.5MM ~2.5MM +DD% Vol. Led Organic Total Stores Direct Stores NR Growth (L5Y CAGR) Largest population: ~1.5B Favorable demographic: 64+% #1 ~30 median age Chocolate P
Slide 49: India: Key Initiatives to Increase Chocolate Penetration and Biscuits Scale
INDIA: KEY INITIATIVES TO INCREASE CHOCOLATE PENETRATION AND ESTABLISH BISCUITS SCALE 1 Expand and digitize Route-to-Market Spotlight 2 Scale Biscuits by strengthening premium leadership with Oreo & Biscoff 3 Recruit new consumers and occasions via innovation led by Chocolate 49
Slide 50: India: Expand and Digitize Route-to-Market
INDIA SPOTLIGHT 1 EXPAND AND DIGITIZE ROUTE-TO-MARKET Best-in-Class Distribution Execution Levers MDLZ Direct Coverage ~9.5MM Geo-spatial analytics-led store expansion Total Store Universe ~3.0MM Machine Learning led suggested orders Win in emerging channels: Quick commerce ~2.5MM and Away-From-Home
Slide 51: Brazil: Continuing to Advance Our Leadership in Snacking
BRAZIL: CONTINUING TO ADVANCE OUR LEADERSHIP IN SNACKING Brazil Opportunity Brazil at a Glance DD% Large, young population (>200MM) ~$2B Organic Growth NR ~1MM Stores Net Revenue (L5Y CAGR) Consistent economic growth #1 #1 #2 $27B snacking market Gum Biscuit Chocolate Headroom to expand per capita c
Slide 52: Brazil: Leverage Strong Brands and RTM Expertise to Gain Share
BRAZIL: LEVERAGE STRONG BRANDS AND RTM EXPERTISE TO GAIN SHARE 1 Advance leadership of iconic brands Spotlight 2 Expand distribution and penetration 3 Build out Cakes and Pastries platform 52
Slide 53: Unlock Potential of Brand Equity Led by Lacta and Oreo
B raz i l S potl i ght 1 UNLOCK POTENTIAL OF OUR BRAND EQUITY LED BY LACTA AND OREO Lead Chocolate Category Triple the Size of Oreo Business Development with LACTA Elevate taste, quality and uniqueness Build occasion awareness Leverage Price Pack Architecture to address key price points Connect bran
Slide 54: Mexico: Strong Brands and a Leading Portfolio
MEXICO: STRONG BRANDS AND A LEADING PORTFOLIO Mexico Opportunity Mexico at a Glance HSD% Stable macroeconomic outlook ~$1.5B Organic Growth NR ~1MM Net Revenue Stores (L5Y CAGR) Growing disposable income Well positioned in most attractive #1 snacking categories #1 Gum #3 Candy Biscuit Significant he
Slide 55: Mexico: Accelerating Growth Across Our Portfolio
MEXICO: ACCELERATING GROWTH ACROSS OUR PORTFOLIO 1 Drive Oreo penetration and share Spotlight 2 Leverage full potential of our distribution network across our portfolio 3 Build out chocolate platform 55
Slide 56: Ambition for Oreo to Become #1 Biscuit in Mexico
MEXICO SPOTLIGHT 1 AMBITION FOR OREO TO BECOME #1 BISCUIT IN MEXICO Connect Brand to Occasion-Based Pack Sizes Expand Coverage with DSD Local Market Invest A&C to convey the brand’s Deploy price pack architecture Leverage DSD to drive distribution cultural relevance, consumption for the right occasi
Slide 57: What Success Looks Like Over Long-Term Horizon
WHAT SUCCESS LOOKS LIKE OVER LONG-TERM HORIZON Key Outcomes India China Brazil Mexico Deeper & Digitized Distribution Increased Brand Penetration Innovation for New Occasions Chocolate Chocolate Biscuits Biscuits Scale in Core Categories Biscuits Cakes & Pastries Biscuits Chocolate Cakes & Pastries
Slide 58: In Summary: Emerging Markets Are a Volume-Led Engine of Growth
IN SUMMARY: EMERGING MARKETS ARE A VOLUME-LED ENGINE OF LONG-TERM GROWTH Iconic global and local brands scaling with discipline 1 • Supported by PPA, focused innovation, and increasing operating leverage Unrivaled Route-to-Market and local supply chains 2 • Millions of points of sale and tens of tho
Slide 59: Agenda
AGENDA Executing our strategy to deliver sustainable, long-term growth – Dirk Van de Put North America: strengthening our business and growth trajectory – Dirk Van de Put Europe: leveraging iconic brands to drive long-term category growth – Dirk Van de Put Emerging Markets: expanding a powerful engi
Slide 60: Committed to Strong Cash Generation; 2025 Impacted by Cocoa Costs
COMMITTED TO STRONG CASH GENERATION; 2025 IMPACTED BY HISTORIC COCOA COST PRESSURES Free Cash Flow - Reported, in $ B - $4+ $3.6 $3.5 $3.2 $3.0 2022 2023 2024 2025 LT Vision 60
Slide 61: Substantial Return of Capital to Shareholders
SUBSTANTIAL RETURN OF CAPITAL TO SHAREHOLDERS Double-Digit Opportunistic Share Cumulative Dividend Growth Repurchase Capital Return CAGR past 10 years Returned since 2018 2018-2025 11.4% ~$15B $30.7B +DD increase 18% reduction in Returned over 9 of past 10 years share count1 8 years 61 1. Percentage
Slide 62: Vast Majority of Acquisitions Are Delivering Growth and Value
VAST MAJORITY OF ACQUISITIONS ARE DELIVERING GROWTH AND VALUE Acquisitions Year Acquired 2024 2022 2021 2020 2019 2018 Strategic Driver Strengthen the core Portfolio Depth - Wellbeing Premiumization Expand Adjacencies Snack Bars - Cakes & Pastries - Better-for-you Financial Algorithm Revenue & value
Slide 63: Maintain Balance Sheet Flexibility
MAINTAIN BALANCE SHEET FLEXIBILITY Net Leverage Advantaged Debt Structure1 3.5x ~2.5% Avg Coupon 3.0x Rate ~3.0x 2.6x 48% 46% 2.3x ~7.3 Yrs Avg Maturity 6% 2022 2023 2024 2025 Near Term USD EUR All Other 63 1. Includes LT Debt plus current maturities of LT Debt as of December 31, 2025, excludes shor
Slide 64: Reiterate FY 2026 Outlook and Expect Strong EPS Growth in 2027
REITERATE FY 2026 OUTLOOK AND EXPECT STRONG EPS GROWTH IN 2027 Organic Net Adjusted EPS Free Revenue Growth Growth (Cst. Fx) Cash Flow FY26 Outlook Flat to +2% Flat to +5% ~$3B LT Algo Mid point 3-5% +HSD% $3B+ Strong Improved Sustained Robust Stable 2027 EPS Developed Emerging Cost Cocoa Markets Ma
Slide 65: Confident in Executing Our Strategy and Delivering Our Algorithm
CONFIDENT IN EXECUTING OUR STRATEGY AND DELIVERING OUR ALGORITHM Proven history of results Robust strategy: categories, geographies and brands Strong plans for Developed Markets improvement Emerging Markets, a durable, long-term growth engine Committed to capital allocation discipline 65
Slide 66: Mondelēz International: Snacking Made Right
Mondelez, International SNACKING MADE RIGHT
Slide 67: Outlook
OUTLOOK The company’s outlook for 2026 Organic Net Revenue growth, Adjusted EPS growth on a constant currency basis and Free Cash Flow are non-GAAP financial measures that exclude or otherwise adjust for items impacting comparability of financial results such as the impact of changes in currency exc
Slide 68: GAAP to Non-GAAP Reconciliations: Net Revenues to Organic Net Revenue
GAAP TO NON-GAAP RECONCILIATIONS Net Revenues to Organic Net Revenue (in millions of U.S. dollars) (Unaudited) Mondelēz International 2024 5 Year For the Twelve Months Ended December 31, 2020 2021 2022 2023 2024 CAGR 2025 Reported (GAAP) $ 26,581 $ 28,720 $ 31,496 $ 36,016 $ 36,441 $ 38,537 Divestit
Slide 69: GAAP to Non-GAAP Reconciliations: Gross Profit to Adjusted Gross Profit
GAAP TO NON-GAAP RECONCILIATIONS Gross Profit To Adjusted Gross Profit (in millions of U.S. dollars) (Unaudited) Mondelēz International 2024 5 Year For the Twelve Months Ended December 31, 2020 2021 2022 2023 2024 CAGR 2025 Reported (GAAP) $ 10,446 $ 11,254 $ 11,312 $ 13,764 $ 14,257 $ 10,935 Restuc
Slide 70: GAAP to Non-GAAP Reconciliations: Diluted EPS to Adjusted EPS
GAAP TO NON-GAAP RECONCILIATIONS Diluted EPS to Adjusted EPS (Unaudited) Mondelēz International 2024 5 Year For the Twelve Months Ended December 31, 2020 2021 2022 2023 2024 CAGR 2025 Diluted EPS attributable to Mondelēz International (GAAP) $ 2.47 $ 3.04 $ 1.96 $ 3.62 $ 3.42 $ 1.89 Restucturing cha
Slide 71: GAAP to Non-GAAP Reconciliations: Operating Cash Flow to Free Cash Flow
GAAP TO NON-GAAP RECONCILIATIONS Net Cash Provided by Operating Activities to Free Cash Flow (Unaudited) For the Twelve Months Ended December 31, 2020 2021 2022 2023 2024 2025 Net Cash Provided by Operating Activities (GAAP) $ 3,964 $ 4,141 $ 3,908 $ 4,714 $ 4,910 $ 4,514 Capital Expenditures (863)
Slide 72: GAAP to Non-GAAP Reconciliations: Developed and Emerging Markets Revenue
GAAP TO NON-GAAP RECONCILIATIONS Net Revenues to Organic Net Revenue (in millions of U.S. dollars) (Unaudited) Mondelēz International Developed Markets Emerging Markets 2025 2025 5 Year 5 Year For the Twelve Months Ended December 31, 2021 2022 2023 2024 2025 CAGR 2021 2022 2023 2024 2025 CAGR Report
Slide 73: GAAP to Non-GAAP Reconciliations: Regional Net Revenues
GAAP TO NON-GAAP RECONCILIATIONS Net Revenues to Organic Net Revenues (in millions of U.S. dollars) (Unaudited) 2025 5 Year CAGR Latin North Latin North America AMEA Europe America America AMEA Europe America For the Twelve Months Ended December 31, 2025 Reported (GAAP) $ 4,899 $ 7,932 $ 15,027 $ 10
Slide 74: GAAP to Non-GAAP Reconciliations: Adjusted EBITDA for Leverage
GAAP TO NON-GAAP RECONCILIATIONS Adjusted EBITDA for Leverage Calculation (in millions of U.S. dollars) (Unaudited) Mondelēz International For the Twelve Months Ended December 31, 2022 2023 2024 2025 Reported Operating Income (GAAP) $ 3,534 $ 5,502 $ 6,345 $ 3,548 Restucturing charges 122 131 149 (3