Interim Management Statement
2 9 A p r i l 2 0 2 6
Hugh McGuire
Chief Executive Officer
Mark Garvey
Chief Financial Officer
2 0 2 6
Strong YTD Q1 performance with volume growth and continued positive
momentum across all three segments
Optimum Nutrition delivered +18.8% LFL revenue growth1 driven by accelerating category growth, expanded distribution and innovation
Q 1
Strong volume growth of +12.5% in H&N driven by demand across end-use markets of Active Nutrition, Functional Beverages and VMS
Volume and pricing growth in protein solutions within Dairy Nutrition with overall LFL revenue growth +2.0%
Continued progress on Group-wide transformation programme, targeting $60m+
annual savings by FY27, and €22.2m returned to shareholders via share buyback
FY26 adjusted EPS2 growth expected at the upper end of medium-term guidance of 7% to 11%
3 | Glanbia PLC Q1 2026 IMS Presentation
1 Like-for-like ("LFL") revenue growth shown on a constant currency basis.
2 Adjusted Earnings Per Share ("EPS") on a constant currency basis.
PERFO RM ANCE NUTRI TI O N ( PN)
Strong first quarter performance led by Optimum Nutrition
Total revenue Q1 YTD1 | +1.3% |
Volume | +9.2% |
Price | +2.3% |
Disposals | (10.2%) |
LFL revenue2 +11.5%
Volume +9.2% driven by accelerating category growth, new distribution, lapping of weaker comparative and innovation
Pricing +2.3% with price increases implemented in the US in Q4 2025 somewhat offset by promotional activity and tactical price reductions on products in the energy category
Optimum Nutrition LFL revenue growth of +18.8% and L13W US consumption3 +13.3% with particularly strong growth in FDM/online channels
New campaign, sponsorships and media partnerships driving engagement
% of PN Revenue
LFL Revenue Growth2
Americas International
57% 43%
+4.0% +23.4%
4 | Glanbia PLC Q1 2026 IMS Presentation
1 Revenue growth/decline shown on a constant currency basis versus Q1 2025.
2 LFL revenue growth shown on a constant currency basis.
3 Consumption based on US measured channels for the 13-week period to 4 April 2026.
HEALTH & NUTRI TI O N ( H& N)
Continued strong volume growth momentum driven by demand in end-use markets
Total revenue Q1 YTD1 | +14.8% |
Volume | +12.5% |
Price | (0.9%) |
Acquisitions | +3.2% |
H&N LFL2 revenue growth of +11.6%
Volume +12.5% driven by strong demand across priority end-use markets in Active Nutrition, Functional Beverages and VMS, with strong growth in EMEA and ASPAC
Pricing -0.9% driven by pass-through pricing with customers
Integration of Sweetmix and Scicore on track and capacity expansions in Asia, Europe and the US underway
5 | Glanbia PLC Q1 2026 IMS Presentation
1 Revenue growth/decline shown on a constant currency basis versus Q1 2025.
2 LFL revenue growth shown on a constant currency basis.
DAI RY NUTRI TI O N ( DN)
Strong performance through volume and pricing in Protein Solutions
Total revenue Q1 YTD1
+2.0%
Volume
+6.4%
Price
(4.4%)
LFL2 revenue growth of +2.0%
Volume +6.4% driven by continued strong demand for protein solutions and bioactives with demand for high-end whey proteins remaining robust
Pricing -4.4% reflects strong whey protein markets offset by negative cheese markets
Continued demand for colostrum bioactives, targeting gut health and immunity
Additional WPI capacity via Joint Venture on track
6 | Glanbia PLC Q1 2026 IMS Presentation
1 Revenue growth/decline shown on a constant currency basis versus Q1 2025.
2 LFL revenue growth shown on a constant currency basis.
STRONG BALANCE SHEET
D E B T
C A P I T A L
E X P E N D I T U R E
S H A R E H O L D E R R E T U R N S
Net Debt $648m
Total committed facilities of
$1.4bn
FY26 capex expected to be
$100m - $110m
€100m share buyback
authorisation
€22.2m returned via share
buyback programme1 to date Final dividend 25.67 €cent
7 | Glanbia PLC Q1 2026 IMS Presentation 1 Between 25 February 2026 and 27 April 2026.
FY 26 OUTLOOK ALIGNED WITH MEDIUM - TERM GROWTH ALGORITHM
Revenue growth: upper end of +5-7% EBITDA margin progression
Revenue growth: upper end of +4-6% EBITDA margin: 17-19%
EBITDA in the range of
$160-170m (above medium-term guidance)
Adj. EPS1 at upper end of 7% - 11% OCF Conversion 85%+
8 | Glanbia PLC Q1 2026 IMS Presentation 1 On a constant currency basis.
DELIVERING BETTER NUTRITION 1
High-growth categories with leading brands and ingredients driven by consumer megatrends
2Sharpened and focused operating model and portfolio to capture the growth
3Our people, portfolio, and firepower will
continue to drive strong shareholder returns
9 | Glanbia PLC Q1 2026 IMS Presentation
A P E R F O R M A N C E D R I V E N P U R P O S E L E D G L O B A L N U T R I T I O N C O M P A N Y
10 | Glanbia PLC Q1 2026 IMS Presentation
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