Interim Results Presentation FY 2026/27

Interim Results Presentation

Overview Euan Sutherland, CEO Financial Results Stuart Lorimer, CFO Business Update Euan Sutherland, CEO Q&A

Momentum in core brands, evidenced by market performance

Successful innovation launches & acquisition integrations

Good H1 financial performance despite constrained revenue growth

On track to deliver full-year results

in line with market expectations

3

The Market

Total Soft Drinks

+6.7%

Resilient & growing

AG Barr

Total AG Barr

+7.2%

IRN-BRU

+2.8%

Growing strongly & gaining share

Rubicon

+7.9%

Boost

+28.7%

External market performance source: Retail Sales Value measured by independent data source Circana, 26 weeks to 1 August 2026

4

More from Core

Increased brand awareness, distribution & penetration

Excellence in Sales & Marketing

Execution driving growth ahead of the market

Supply Chain Leverage

Continued capacity and capability build for the long-term, some short-term disruption

Innovation Upweight

Strengthened innovation pipeline coming through, headlined by Boost Water+

Strategic M&A

Successful integrations of Fentimans & Frobishers

5

Significant H1 change programme delivered

• Cumbernauld manufacturing programme

• Integration of Fentimans and Frobishers

• Implementation of new planning system

Temporary disruption during summer peak

• Actions taken to address challenges experienced as new planning system was embedded

• Issues resolved with stock availability and customer service returning to normal

6

Continued brand momentum,

current trading on-track

Focused on driving growth in core & acquired brands

Resilient supply chain and tech platform in place

Milton Keynes expansion progressing to plan

7

Highlights

Revenue growth led by core brands & acquisitions

Short-term gross margin dilution from acquisitions, as expected

Strong, sustained operating margin

Net debt in line with plan, driven by M&A and capex

ROCE tracking in line with expectations

9

Core Soft Drinks Brands

% of Revenue

29%

Revenue vs. LY

Flat

% of Revenue

19%

Revenue vs. LY

+1%

% of Revenue

13%

Revenue vs. LY

+8%

Portfolio Brands

% of Revenue Revenue vs. LY

29% (6%)

Portfolio revenue decline driven by FUNKIN & Barr

Acquired Brands

% of Revenue

9%

Revenue in-line with plan

10

H1 Operating Costs (£m) & Margin (%)

Higher operating costs primarily driven by

third party manufacturing associated with recent acquisitions

Cost Overview

Macro environment driving higher input costs

• Volatile geopolitical and regulatory backdrop

  We have responded

• Strengthened resilience and optionality

• Invested in Efficiency

• Selective Pricing & portfolio management

  Outlook

• Fully hedged for 26/27, building cover for 27/28

• Assuming no significant improvement in external environment

• Implementing long term contracts & dual sourcing

• Revenue Growth Management programme

11

Net Cash Movement (£m)

CND: £10m

MK: £10m I-E: £3m

33.9 6.4

(39.5)

(7.2) (1.3)

(23.4)

(40.5)

(17.0)

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Financial Framework

≥4% Revenue Growth

14-16% Operating Margin

19-21% ROCE

FY 2026/27 Guidance

c.10% Revenue Growth

c.15% Operating Margin

c.19% ROCE

£10-20m Net bank debt c.£40m cash capex c.£3m adjusting cost

Note:

1 - Company-compiled analyst forecast consensus for FY 2026/27 adjusted profit before tax of £71.5m (forecast as of September 2026). 13

1

Goal

Creating a strong & consistent flywheel of growth

2

Non-Negotiables

Great Taste & Great Value

3

Financial Outcomes

Revenue Growth

≥4%

Operating Margin 14-16%

ROCE 19-21%

x% m4arket share

Enablers

Strong Governance

Talent Investment & Development

Disciplined Capital Investment

Technology Transformation

5

Growth Platforms

More from Core

Sales & Marketing Excellence

Upweighted Innovation

Leverage Supply Chain

M&A

15

Everyday Refreshment

3% market share

Daily Performance

3% market share

Elevated Experience

Refined Refreshment

5% market share

Significant growth headroom across all market segments Continued portfolio evolution towards higher growth consumer categories

AG Barr portfolio value significantly increased

Rubicon

Core growth in Sparkling Successful category expansion Grocery main aisle listings

IRN-BRU

Accelerating post rebrand Strong "Zero" growth Momentum in England

Boost

Core growth led by Sport Grocery distribution gains Strong NPD launch momentum

3

3

3

17

IRN-BRU 500ml

Coke Zero

£1.40

£1.29

Rubicon 500ml

Fanta

£1.40

£1.29

Boost Energy 500ml

Monster

£1.75

£1.00

Boost Sport 500ml

Lucozade

£1.65

£1.00

Maximises value return while maintaining competitiveness

Accessible price point against key competitors

Growing brand equity creates significant pricing headroom

Note: Pricing in market as at Sep-26

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Distribution Progression

15% increase in distribution points across Grocery and Convenience

Increased Displays

23% YoY increase in display points for Rubicon and IRN-BRU respectively

Improved Brand Penetration

+10%

+25%

+18%

Strengthening Equity

*Boost saw +5pts improvement in IPOS PCA

Data sources:

Distribution - Circana, 12 weeks to 29 August 2026

Display - Circana, 26 weeks to 29 August 2026

Penetration - Worldpanel 52 weeks ended 9 August 2026 19

COST SYNERGIES REVENUE GROWTH MANUFACTURING

Boost

Acquired: Q4 22/23

H2 24/25

From H2 24/25

Completing H1 27/28

Frobishers

Acquired: Q4 25/26

H1 26/27

From H2 26/27

Optimised at third party manufacturer

✓

Fentimans

Acquired: Q1 26/27

From H2 26/27

Planned for H1 28/29

Proven ability to deliver synergies to improve profitability and

create a flywheel of re-investment for growth

Eliminate duplicate costs

Utilise AG Barr's sales, brand and innovation capabilities

Lower cost of manufacturing

H1 26/27

20

Planning underway for October 2027 launch

Scheme information

20p returnable deposit on plastic & metal drinks containers between 150ml and 3L

Potential impact on market*

Learnings from Ireland scheme launched 2024

Some short-term disruption possible

Limited long-term volume impact, market normalises by early 2028 Some consumers may switch to high volume per unit packs (e.g. 2L)

AG Barr preparations

Large-scale SKU label change programme Expected one-off implementation cost in FY 27/28

Potential small adverse impact on working capital

* Learnings from Ireland DRS launched February 2024

21

Cumbernauld

New high speed can line commissioned

Increased capacity

New PET sleeving capability added Insourcing of Boost Sport and Water+ complete

COMPLETED

Innate-Essence

New high-pressure processing equipment installed

Increased capacity & efficiency

COMPLETED

Milton Keynes

Site expansion including second independent can line Increased capacity & capability from early 2027

Boost Energy insourcing planned for FY 27/28

ON TRACK

22

Significant strategic progress and good financial delivery in H1

Supply issues resolved, H2 tracking to plan

Preparations for UK DRS scheme progressing well

On track to deliver full-year results in line with market expectations1

FY 26/27: c.10% Revenue Growth, c.15% Operating Margin, c.19% ROCE

Note:

1 - Company-compiled analyst forecast consensus for FY 2026/27 adjusted profit before tax of £71.5m (forecast as of September 2026). 24

Full year adjusting items expected to be c.£3m net cost

27

Sustainable Long-term Growth

Investment across brand development, supply chain optimisation and system infrastructure

Effective Cash Utilisation

Increasing Shareholder Returns

Inorganic investments assessing strategic fit and integration suitability

Consistent and growing dividend inline with our policy and performance

28

Marketing Excellence

High-Quality Execution

Highly successful summer football campaign

Core brand refresh

Growth in Zero

Accelerating post rebrand

10% RSV growth1

7% Revenue growth Incremental flavour innovation

Momentum in England

Scale opportunity

7% RSV growth1

19% RSV growth1 in ZERO 3% Revenue growth

1 - Retail Sales Value measured by independent data source Circana, 26 weeks to 1 August 2026

29

Innovation

Category Expansion

£2m incremental revenue from Twist & Dilutes

Tesco & Sainsburys listings

Marketing Excellence

High-Quality Execution

Brand refresh & summer campaign improving brand recognition

Mainstream Growth

Clear Main Aisle Strategy 16% RSV growth1 in Sparkling 13% RSV growth1 in Mango

New Tropical & Cherry distribution

3

3

3

3

1 - Retail Sales Value measured by independent data source Circana, 26 weeks to 1 August 2026

30

Continued strong momentum including from new Boost Water+

Marketing Excellence

High-Quality Execution

'Straight Up' Campaign

Expanded Distribution

Core Range Growth

6% RSV Growth1 in Boost Energy 24% RSV Growth1 in Boost Sport Grocery distribution gains

Innovation

Category Expansion

£3m incremental revenue from Boost Water+

Convenience only

1 - Retail Sales Value measured by independent data source Circana, 26 weeks to 1 August 2026

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Disclaimer

This document contains forward-looking statements that involve risks and uncertainties. These statements may generally, but not always, be identified by the use of words such as 'outlook', 'guidance', 'intend', 'expect', 'anticipate', 'plan', 'target' and similar expressions to identify forward-looking statements. All statements other than statements of historical facts, including, among others, statements regarding our future financial position and results, our outlook for FY26/27 and future years, business strategy and the potential effects of global economic trends, the performance of our recent acquisitions (including their integration into A.G. Barr p.l.c.), on our business and financial condition, budgets, projected levels of consumption and production, projected raw material and other costs, estimates of capital expenditure, free cash flow, effective tax rates and plans and objectives of management for future operations, are forward-looking statements. By their nature,

forward-looking statements involve risk and uncertainty because they reflect our current expectations and assumptions as to future events and circumstances that may not prove accurate. Our actual results and events could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described in the FY25/26 Annual Report for A.G. Barr p.l.c. and its subsidiaries.

Although we believe that, as of the date of this document, the expectations reflected in the forward-looking statements are reasonable, we cannot assure you that our future results, level of activity, performance or achievements will meet these expectations. Moreover, neither we, nor our directors, employees, advisors nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. After the date of the condensed consolidated financial statements included in this document, unless we are required by law or the rules of the UK Financial Conduct Authority to update these forward-looking statements, we will not necessarily update any of these

forward-looking statements to conform them either to actual results or to changes in our expectations.

The recipient acknowledges that circumstances may change and the contents of this document may become outdated as a result.