QI FY2022 CE a ntacion 02 2027 (1010) PENNINGTON 6 %2 ULTRAGREI X-Large LAWN FERTILIZER Cadel AMDRO BULLY SHICKS NEWEON 8 #910.4 NutriSoft® Macaw & Cock . Business & Industry Update Tim Cofer, CEO Agenda Financials & Outlook Niko Lahanas, CFO Management Q&A Tim Cofer, Niko Lahanas, J.D. Walker, John Hanson Q1 FY22 Investor Presentation 2 Forward Looking Statements | --- | |--------------------------------------------------------------------------------------------------------------------------------| | | | ...

Financial Data and Key Metrics Changes - Net sales increased by 12% to $661 million, driven by recent acquisitions, particularly the Green Garden seed business and Hopewell live plants business [9][31] - Organic sales were in line with the prior year, with a two-year compound annual growth rate (CAGR) of 11% [32] - Gross profit increased by $33 million to $198 million, with gross margin improving by 210 basis points to 30% despite significant cost inflation [33] - Operating income declined slightly by 3% to $26 million, with operating margin decreasing by 60 basis points to 4% [11][35] - Net income grew by 61% to $9 million, with diluted GAAP earnings per share increasing by $0.06 to $0.16 [37] Business Segment Data and Key Metrics Changes Garden Segment - Garden segment sales grew by 45% to $225 million, with a 0.3% decline in organic sales excluding acquisitions [38] - Operating income for the Garden segment increased by 30% to $6 million, while operating margin decreased by 30 basis points to 2.7% [40] - Adjusted EBITDA for the Garden segment increased by 115% to $16 million [40] Pet Segment - Pet segment sales remained in line with the prior year at $436 million, with organic sales increasing at a 10% CAGR over two years [41][42] - Operating income for the Pet segment grew by 4% to $45 million, with operating margin improving by 40 basis points to 10.4% [42] Market Data and Key Metrics Changes - E-commerce now represents approximately 22% of pet branded sales, with continued investments in digital capabilities [15] - Household penetration for gardening increased by 3 percentage points to 93% compared to 2019, with notable gains in live plants and wild bird categories [17] Company Strategy and Development Direction - The company is focused on adding capacity and automation to improve service levels, managing inflation through pricing actions, and investing in brand innovation [30][49] - Continued investment in consumer insights, brand marketing, and product innovation is emphasized to attract new consumers [24] - The company remains active in seeking acquisitions that are margin accretive, with a disciplined approach to evaluating potential targets [73][94] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating challenges posed by inflation and supply chain constraints, while maintaining a focus on long-term growth strategies [30][49] - The outlook for the remainder of the year includes expectations of continued inflationary pressures and a cautious approach to consumer spending [29][48] - Despite challenges, the company maintains its full-year guidance of GAAP EPS of $3.10 or better [50] Other Important Information - Cash and cash equivalents decreased to $296 million, primarily due to cash payments for acquisitions and inventory build [43] - Total debt increased to $1.2 billion, with a leverage ratio of 2.9x, well within the target range [45] - The company repurchased approximately 153,000 shares during the quarter, with $100 million remaining under the share repurchase program [46] Q&A Session Summary Question: Insights on Pet Business Growth - Management noted that growth in the pet supplies industry is driven by favorable trends and that they are seeing mid-single-digit growth in point of sale [51][52] Question: Garden Segment Competitiveness - Management expressed optimism about consumer retention in gardening, with household penetration rates higher than pre-COVID levels [56][57] Question: Gross Margin Performance - Management highlighted that gross margin improvement was driven by pricing and favorable mix from acquisitions, with expectations to continue this trend [63][66] Question: Service Levels Impact on Shipments - Management reported improvements in service levels, particularly in the Garden segment, with estimates of low tens of millions in revenue left on the table due to service constraints [76][80] Question: Cost Inflation Expectations - Management indicated that approximately 20% of the expected $200 million in cost inflation has already impacted the first quarter, with pricing strategies in place to mitigate further impacts [86][88] Question: M&A Landscape and Valuations - Management remains active in the M&A landscape, evaluating potential deals based on their merits and synergies, while being disciplined about valuations [93][94]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 25, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number 1-33268 Central Garden & Pet Company (Ex ...

Central Garden & Pet Company (NASDAQ:CENT) Q3 2021 Earnings Conference Call November 22, 2021 4:30 PM ET Company Participants Friederike Edelmann - Vice President of IR Tim Cofer - CEO Nicholas Lahanas - CFO J.D. Walker - President of Garden Consumer Products Conference Call Participants Bill Chappell - Truist Brad Thomas - KeyBanc Capital Markets Jim Chartier - Monness, Crespi, Hardt & Co., Inc. Andrea Teixeira - JPMorgan Oliver Grossman - Jefferies Operator Welcome to Central Garden & Pet's Fourth Quarter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________________________________________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 26, 2021 or ☐ TRANSITION REPORT PURSUANT OF SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33268 Central Garden & Pet Company ...

Q3 FY2021 Investor Presentation 08.04.2021 Business Update Tim Cofer, CEO Agenda Q3 FY21 Financials & FY21 Outlook Niko Lahanas, CFO Management Q&A Tim Cofer, Niko Lahanas, J.D. Walker, John Hanson Q3 FY21 Investor Presentation 2 Forward Looking Statements | --- | |--------------------------------------------------------------------------------------------------------------------------------| | | | This presentation includes "forward-looking statements." Forward-looking statements include statements concern ...

Financial Data and Key Metrics Changes - Net sales increased by 33% to $935 million, driven by 23% organic growth and $76 million from recent acquisitions [14][19] - Gross margin decreased by 40 basis points to 29.1% due to purchase accounting adjustments and cost inflation [14][19] - Operating margin increased by 180 basis points to 11.2% due to operating efficiencies [14][20] - EPS on a GAAP basis increased by 69% to $1.32, reflecting strong organic performance [14][23] Business Line Data and Key Metrics Changes - Pet segment sales increased by 21% to $492 million, with strong growth in small animal supplies and dog and cat products [22] - Garden segment sales increased by 49% to $443 million, with notable growth in distribution, fertilizers, and grass seed [21] - E-commerce sales in the pet business grew over 50%, representing approximately 21% of pet branded sales [15] - E-commerce sales in the garden segment grew triple-digits, now representing 6% of total garden sales [16] Market Data and Key Metrics Changes - The surge in pet adoption in 2020 led to an 8% increase in dog ownership and a 5% increase in cat households, translating to over 4 million new pet-owning households [15] - Approximately one-third of new pet-owning households are younger and more digitally savvy, indicating future growth opportunities [15] - In the garden segment, 8 million households entered the lawn and garden consumables category since the pandemic began, with a significant portion being millennials and Gen Z consumers [16] Company Strategy and Development Direction - The company is focused on its "Central to Home" strategy, which includes five strategic pillars: Consumer, Customer, Central, Cost, and Culture [8][12] - Recent acquisitions in the garden space are expected to be accretive to earnings in fiscal year 2021, with ongoing integration efforts [11][27] - The company is investing heavily in e-commerce and digital marketing capabilities to strengthen its market position [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing recovery from COVID-19 and the importance of vaccination efforts for employee safety [6][7] - The company anticipates continued strong demand in both pet and garden segments, despite facing inflationary pressures and supply chain challenges [17][26] - Guidance for full-year 2021 GAAP EPS has been raised to $2.25 or higher, reflecting strong business momentum [27] Other Important Information - The company is doubling its CAPEX expenditures in fiscal 2021 to expand manufacturing capacity and improve service levels [17][24] - Total debt increased to $979 million, with a gross leverage ratio of 2.5 times, well within the target range [24] - The company is actively scanning the market for additional acquisition opportunities in both the pet and garden sectors [11][27] Q&A Session Summary Question: Can you provide more color on sales and EBITDA contribution from recent acquisitions? - Sales for the quarter from acquisitions were $76 million, but EBITDA contribution was minimal due to purchase accounting adjustments [28][29] Question: How are trends going as retailers prepare for the season? - Retailers remain engaged and optimistic, having taken aggressive positions to prepare stores for the season, but weather conditions may impact consumer engagement [39] Question: What are the assumptions for cost of goods inflation this year? - The company expects pricing to be insufficient to cover all inflationary pressures, including commodity and labor costs [46][47] Question: What is the outlook for the second half of the fiscal year? - The company is cautious about the garden segment due to tough comparisons from last year, while remaining optimistic about the pet segment [54][55] Question: How is the company addressing labor availability issues? - The company is experiencing challenges in attracting and retaining hourly employees and is adjusting compensation to remain competitive [74]

PART I. FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for the three and six months ended March 27, 2021, and March 28, 2020, including balance sheets, statements of operations, comprehensive income, and cash flows Condensed Consolidated Statements of Operations Highlights | Metric | Three Months Ended Mar 27, 2021 ($M) | Three Months Ended Mar 28, 2020 ($M) | Six Months Ended Mar 27, 2021 ($M) | Six Months Ended Mar 28, 2020 ($M) | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $935.3 | $703.2 | $1,527.5 | $1,186.1 | | **Operating income** | $104.6 | $66.1 | $131.7 | $68.2 | | **Net income attributable to Central Garden & Pet** | $73.0 | $42.7 | $78.6 | $38.3 | | **Diluted EPS** | $1.32 | $0.78 | $1.43 | $0.69 | Condensed Consolidated Balance Sheets Highlights | Metric | March 27, 2021 ($M) | March 28, 2020 ($M) | September 26, 2020 ($M) | | :--- | :--- | :--- | :--- | | **Total current assets** | $1,407.2 | $1,358.9 | $1,525.3 | | **Total assets** | $2,847.1 | $2,167.4 | $2,339.4 | | **Total current liabilities** | $536.8 | $357.1 | $440.3 | | **Total liabilities** | $1,685.5 | $1,174.0 | $1,261.7 | | **Total equity** | $1,161.6 | $993.4 | $1,077.7 | Condensed Consolidated Statements of Cash Flows Highlights | Metric | Six Months Ended Mar 27, 2021 ($M) | Six Months Ended Mar 28, 2020 ($M) | | :--- | :--- | :--- | | **Net cash used by operating activities** | ($120.2) | ($92.7) | | **Net cash used in investing activities** | ($765.4) | ($24.4) | | **Net cash provided (used) by financing activities** | $270.5 | ($49.2) | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes provide detailed explanations of the company's accounting policies and financial statement items, including segment reporting changes, recent acquisitions, debt activities, and legal contingencies - The company's outdoor cushion operations were reclassified from the Garden segment to the Pet segment to align with internal management reporting, with all prior period segment disclosures recast to reflect this change[29](index=29&type=chunk)[115](index=115&type=chunk) - The company completed three acquisitions: DoMyOwn for **~$81 million**, Hopewell Nursery for **~$81 million**, and Green Garden Products for **~$571 million**[55](index=55&type=chunk)[56](index=56&type=chunk)[57](index=57&type=chunk) - In October 2020, the company issued **$500 million** of 4.125% senior notes due 2030 and used a portion of the proceeds to redeem all of its outstanding 6.125% senior notes due 2023[76](index=76&type=chunk) Segment Performance for Six Months Ended | Segment | Net Sales (Mar 27, 2021) ($ thousands) | Net Sales (Mar 28, 2020) ($ thousands) | Operating Income (Mar 27, 2021) ($ thousands) | Operating Income (Mar 28, 2020) ($ thousands) | | :--- | :--- | :--- | :--- | :--- | | **Pet** | $928,382 | $772,119 | $105,583 | $72,213 | | **Garden** | $599,100 | $413,938 | $70,613 | $36,278 | [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=31&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management's discussion provides an overview of the company's financial performance, highlighting significant sales growth driven by strong organic demand and recent acquisitions, covering segment performance, COVID-19 impacts, liquidity, and debt financing - The company is a leading producer and distributor in the U.S. lawn & garden and pet supplies markets, with a strategy of growth through acquisition, having completed **over 50** to date[124](index=124&type=chunk) - The COVID-19 pandemic has positively impacted demand, with organic net sales increasing **23.2%** for the six months ended March 27, 2021, while also challenging the supply chain and increasing operational costs[131](index=131&type=chunk) - Subsequent to the quarter's end, in April 2021, the company issued an additional **$400 million** in 4.125% senior notes due 2031 to repay outstanding credit facility amounts and for general corporate purposes[132](index=132&type=chunk)[187](index=187&type=chunk) [Results of Operations](index=36&type=section&id=Results%20of%20Operations) This subsection analyzes financial results for the three and six-month periods ending March 27, 2021, showing significant growth in net sales, operating income, and net income across both Pet and Garden segments Q2 FY2021 vs Q2 FY2020 Performance | Metric | Q2 FY2021 ($M) | Q2 FY2020 ($M) | Change (%) | | :--- | :--- | :--- | :--- | | **Net Sales** | $935.3 | $703.2 | +33.0% | | **Organic Net Sales** | - | - | +23.2% | | **Operating Income** | $104.6 | $66.1 | +58.2% | | **Net Income** | $73.0 | $42.7 | +70.9% | | **Diluted EPS** | $1.32 | $0.78 | +69.2% | Six Months FY2021 vs Six Months FY2020 Performance | Metric | H1 FY2021 ($M) | H1 FY2020 ($M) | Change (%) | | :--- | :--- | :--- | :--- | | **Net Sales** | $1,527.5 | $1,186.1 | +28.8% | | **Organic Net Sales** | - | - | +23.2% | | **Operating Income** | $131.7 | $68.2 | +93.1% | | **Net Income** | $78.6 | $38.3 | +105.2% | | **Diluted EPS** | $1.43 | $0.69 | +107.2% | - Pet segment Q2 net sales increased **21.3%** (**23.1% organic**), driven by broad-based demand and increased pet ownership during the pandemic[136](index=136&type=chunk) - Garden segment Q2 net sales increased **48.9%** (**23.3% organic**), with recent acquisitions contributing **$76.1 million**, boosted by increased consumer home gardening[136](index=136&type=chunk) [Liquidity and Capital Resources](index=47&type=section&id=Liquidity%20and%20Capital%20Resources) This section details the company's financial liquidity, capital structure, and cash flow activities, highlighting increased net cash used in operating and investing activities, and significant financing from new debt issuance - Net cash used in investing activities was **$765.4 million** for the six months, primarily due to payments for acquisitions of DoMyOwn, Hopewell Nursery, and Green Garden Products totaling **$733.7 million**[179](index=179&type=chunk)[23](index=23&type=chunk) - Financing activities included issuing **$500 million** in 2030 Notes, borrowing a net **$190 million** on the revolving credit facility, and repaying **$400 million** of 2023 Notes[180](index=180&type=chunk)[23](index=23&type=chunk) - Total debt outstanding was **$979.0 million** at March 27, 2021, an increase from **$693.7 million** at March 28, 2020[181](index=181&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=55&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that there have been no material changes in its exposure to market risk since its last Annual Report on Form 10-K for the fiscal year ended September 26, 2020 - No material change in market risk exposure was reported compared to the fiscal year-end 2020 Form 10-K[201](index=201&type=chunk) [Controls and Procedures](index=55&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 27, 2021, with recent acquisitions excluded from the internal control assessment during integration - Disclosure controls and procedures were deemed effective as of the end of the period covered by the report[202](index=202&type=chunk) - The three recent acquisitions (DoMyOwn, Hopewell Nursery, Green Garden Products) were excluded from the evaluation of internal control over financial reporting for the period, as they are still in the process of being integrated[203](index=203&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=55&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in a patent infringement lawsuit with Nite Glow Industries, Inc., resulting in a $12.4 million judgment that the company is appealing, not expecting a material financial impact - The company is appealing a **$12.4 million** judgment in a patent infringement and breach of contract case brought by Nite Glow Industries, Inc. Management intends to vigorously pursue the appeal and believes the ultimate resolution will not have a material impact[206](index=206&type=chunk)[208](index=208&type=chunk)[120](index=120&type=chunk) [Risk Factors](index=57&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes from the risk factors previously disclosed in its Form 10-K for the fiscal year ended September 26, 2020 - There have been no material changes to the risk factors disclosed in the company's Form 10-K for the fiscal year ended September 26, 2020[209](index=209&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=57&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's stock repurchase activities, noting that while 16,157 shares were purchased for tax purposes, no shares were repurchased under the publicly announced program, which retains its full $100 million authorization - As of March 27, 2021, the company had **$100 million** of authorization remaining under its 2019 share repurchase program[211](index=211&type=chunk) - No shares were repurchased during the quarter as part of the publicly announced program. **16,157 shares** were withheld to cover taxes in connection with vesting of restricted stock[211](index=211&type=chunk) [Exhibits](index=59&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including supplemental indentures, credit agreement amendments, guarantor subsidiary lists, and CEO/CFO certifications - Exhibits filed with this report include supplemental indentures, a first amendment to the credit agreement, a list of guarantor subsidiaries, and certifications from the Principal Executive Officer and Principal Financial Officer[216](index=216&type=chunk)[217](index=217&type=chunk)[218](index=218&type=chunk)

2021 J.P. Morgan Global High Yield & Leveraged Finance Conference March 2021 Disclaimer Central Garden & Pet Company ("we" or "Central") emphasizes that certain statements about future results made in this presentation constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include projections. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future reven ...

BofA Securities 2021 Consumer and Retail Technology Conference March 2021 Disclaimer Central Garden & Pet Company ("we" or "Central") emphasizes that certain statements about future results made in this presentation constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include projections. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues ...