Financial Data and Key Metrics Changes - The company reported a 9% increase in net revenue year-over-year, reaching $409 million, with organic revenue growth of 11.4% driven by pricing, premium specialty doughnuts, and DFD expansion [78][64] - Adjusted EBITDA for the quarter was $49 million, reflecting a 3.1% increase, with adjusted EBITDA margins at 12% [63][44] - Adjusted net income decreased by 13.1% to $11.4 million, with adjusted diluted EPS at $0.7 [44] Business Line Data and Key Metrics Changes - The U.S. business segment saw total revenue increase by 9.3% to $267 million, with organic revenue growth of 12.7% driven by pricing and DFD expansion [64] - Insomnia Cookies opened 23 new bakeries over the trailing four quarters, contributing to strong revenue growth [64] - Adjusted EBITDA for the U.S. segment increased by 16% to $28.1 million, with margin expansion of 60 basis points year-over-year to 10.5% [45] Market Data and Key Metrics Changes - Global points of access grew nearly 13% year-over-year, reaching 12,872, with a goal of 75,000 points of access in the long term [37] - The international segment's total revenue increased by 4.8% to $98.3 million, with organic revenue growth of 3.5% driven by pricing and points of access growth [79] - Market development adjusted EBITDA increased by 27.3% to $15.7 million, despite a negative impact from foreign exchange headwinds [46] Company Strategy and Development Direction - The company is focused on expanding its hub-and-spoke model and DFD capabilities, with plans to add 30 to 40 new Insomnia Cookies bakeries and 10 company-built hubs in 2023 [38][81] - The strategic priority includes capital-light expansion of the Omni-channel model and growing points of access [39] - The company aims to leverage learnings from its partnership with McDonald's to expand its QSR channel both in the U.S. and internationally [24][55] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the 2023 outlook and long-term targets, including growing revenue to $2.15 billion and adjusted EBITDA to $315 million by 2026 [39] - The company anticipates easing inflation in the back half of the year, which may positively impact pricing strategies [78] - Management highlighted the importance of adapting to changing consumer preferences and maintaining strong customer satisfaction despite operational disruptions [71] Other Important Information - The company has successfully refinanced its debt, extending maturities to 2028, and is reducing reliance on vendor financing [65] - The company celebrated National Doughnut Day, generating over 3 billion social media impressions, which underscores the brand's marketing strength [57] Q&A Session Summary Question: Can you quantify the impact of the POS disruption on revenue or EBITDA? - Management noted that while the disruption impacted promotional activities and labor management, they are currently in the midst of an insurance recovery and do not want to quantify the impact at this time [71][112] Question: What lessons can be taken from the UK loyalty programs for the U.S.? - Management indicated that the UK loyalty programs have been successful and they are looking to improve the U.S. loyalty program, which currently has 15.5 million members globally [86][87] Question: How is the Insomnia Cookies business performing and what is the competitive environment like? - Management stated that Insomnia Cookies is ramping up with plans to open more locations and sees a unique opportunity in the gifting and snacking market [98] Question: What is needed to drive faster growth in the international segment? - Management highlighted the introduction of new products and loyalty programs as key strategies to enhance performance in international markets [107]

SECOND QUARTER . . . . . . . - - Cautionary Note Regarding Forward-Looking Statements This presentation includes certain non-GAAP financial measures including organic revenue growth, Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, Fresh Revenue from Hubs with Spokes and Sales per Hub, which differ from results using U.S. Generally Accepted Accounting Principles ("GAAP"). These non-GAAP financial measures are not universally consistent calculations, limiting their usefulness as comparative measur ...

Table of Contents 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 July 2, 2023 ☐ 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: 001-40573 Krispy Kreme, Inc. (Exact name of registrant as specified in its charter) Delaware 37-1701311 (State or other jurisdiction of incorporation) ...

Financial Data and Key Metrics Changes - The company reported a net revenue increase of 12.5% year-over-year to $419 million, with organic revenue growth accelerating to 14.4% driven by pricing and growth in delivered fresh daily (DFD) donuts [89][90] - Adjusted EBITDA grew 12.3% to $55 million, with an adjusted EBITDA margin of 13.1% compared to the previous year [90][92] - GAAP net income was $1.6 million, impacted by a $13.4 million non-cash expense related to the exit of the branded sweet treat line [62][90] Business Line Data and Key Metrics Changes - The U.S. business segment's total revenue increased 14% to $281 million, with organic revenue growth also up 14% despite decreased revenue from branded sweet treats [91] - E-commerce revenue saw a 23% increase, contributing to 22% of retail sales in the U.S. during the first quarter [49][54] - The DFD business expanded to over 6,000 doors in the U.S., with average weekly sales up 35% from two years ago [83][90] Market Data and Key Metrics Changes - International organic revenue growth was 7.3%, with total revenues of $90.3 million, while adjusted EBITDA for the quarter declined to $13.6 million [92] - The growth in Japan led to adjusted EBITDA margins of over 20%, up nearly 800 basis points from a year ago [92] - The company expects to open in three additional countries during the second quarter, including Switzerland, Costa Rica, and Jamaica [50] Company Strategy and Development Direction - The company is focusing on expanding its DFD network, aiming for a long-term goal of 75,000 points of access globally, up from 12,400 today [75][80] - The strategy includes enhancing e-commerce capabilities and aligning specialty donuts across all channels [51][52] - The company is investing in capabilities to rapidly expand Insomnia store openings and plans to open nearly double the number of cookie shops compared to last year [51][52] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to meet or exceed long-term revenue and adjusted EBITDA targets set for 2026, including growing revenue to $2.15 billion and adjusted EBITDA to $215 million [52][66] - The company noted that it has seen resilience in its brand and culture, which is crucial during challenging economic times [52] - Management highlighted the importance of fresh donuts and the unique logistics model that allows for efficient delivery to various points of access [41][75] Other Important Information - The company has exited the branded sweet treat business to focus on its fresh donut offerings, which are experiencing significant growth [74][106] - The company has seen strong performance in its seasonal campaigns, particularly around Valentine's Day and St. Patrick's Day, which serve as a model for future marketing efforts [76][90] - The company is also working to reduce reliance on vendor financing programs, which is expected to positively impact adjusted EBITDA [65] Q&A Session Summary Question: Insights on the McDonald's partnership and profitability per DFD account - Management indicated that profitability per DFD account has significantly improved, and they are focusing on ensuring that donuts are delivered fresh daily to McDonald's [98][126] Question: Discontinuation of the Sweet Treats line - Management clarified that the decision to exit the Sweet Treats line was to concentrate resources on the fresh donut business, which is growing significantly [106] Question: Expansion opportunities with Target - Management discussed testing pre-packaged donuts in Target stores and the potential for premium merchandising units to enhance brand visibility [108]

Table of Contents 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 April 2, 2023 ☐ 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: 001-40573 Krispy Kreme, Inc. (Exact name of registrant as specified in its ch ...

Financial Data and Key Metrics Changes - The company reported a net revenue growth of 9% year-over-year, with organic revenue growth of 12.5% in the fourth quarter, driven by pricing and premium seasonal offerings [50][61] - Adjusted EBITDA grew 17% in the fourth quarter to $56 million, or 25% in constant currency, with a full-year adjusted EBITDA increase of 7% in constant currency [51][61] - Adjusted net income for the quarter increased 27% to $20.4 million, with adjusted diluted EPS rising 38% to $0.11 [52][61] Business Line Data and Key Metrics Changes - In the U.S. and Canada segment, total revenue increased 11% in the fourth quarter to $277 million, with organic revenue growth of 12% [52][61] - Insomnia Cookies experienced a 24% revenue growth driven by strong same-shop sales and high productivity from new shops, with an average order value (AOV) of $850,000, up 8% [46][61] - The Delivered Fresh Daily (DFD) channel accounted for 21% of sales, up from 17% in 2021, reflecting a 10% increase in doors served and average weekly sales per door [53][61] Market Data and Key Metrics Changes - International segment net revenue grew 3.3% in the fourth quarter, with organic revenue increasing 11%, led by strong performances in Mexico and Australia [87][89] - The company added nearly 600 points of access internationally in 2022, leading to 18% organic revenue growth [34][61] - Sales per hub in the international segment increased 8% to nearly $10 million despite foreign exchange headwinds [34][87] Company Strategy and Development Direction - The company aims to grow to more than 75,000 points of access globally, an increase from the previous target of 50,000, while expanding DFD and aligning specialty doughnuts across all channels [35][61] - The focus remains on capital-light expansion of the omnichannel model, with plans to open 30 to 40 new Insomnia Cookie shops and approximately 10 company-built hubs in 2023 [62][61] - The company is committed to enhancing its e-commerce capabilities and leveraging marketing efficiencies across global campaigns [31][61] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting or exceeding long-term growth expectations set for 2026, citing strong momentum in the business [65][61] - The company anticipates modest headwinds from foreign exchange and inflation, but expects pricing strategies to offset these challenges [63][64] - Management highlighted the importance of maintaining product quality and freshness while exploring partnerships for distribution [104][61] Other Important Information - The company generated $32 million of free cash flow in Q4, leading to a 15% cash conversion in 2022 [59][61] - The appointment of a new Global CFO is expected to enhance financial leadership and drive shareholder value [49][61] - The company closed 14 lower-performing shops in 2022 and plans to close seven more in 2023, focusing on optimizing its shop network [86][61] Q&A Session Summary Question: Can you provide more color on pricing plans given inflation? - Management indicated that they entered the year with low double-digit effective pricing and will adapt their pricing strategy to inflation trends [13][61] Question: How much of the growth in Q4 was driven by seasonal demand? - Management noted that while seasonal promotions contributed, they expect continued momentum into the following months [20][61] Question: Can you discuss the performance of legacy DFD accounts? - Management confirmed that existing customers continue to grow in volume and profitability, with expectations for double-digit growth in 2023 [109][61] Question: What is the pace of growth in the international segment? - Management expects consistent growth throughout the year, with new market openings paced evenly [115][61] Question: What are the expectations for the McDonald's partnership? - Management stated that they are still evaluating the partnership and will provide updates when ready [68][61]

Table of Contents Title of each class Trading Symbol Name of each exchange on which registered Common stock, $0.01 par value per share DNUT Nasdaq Global Select Market 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 October 2, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SEC ...

Financial Data and Key Metrics Changes - Net revenue grew 7.5% year-over-year to $375 million, despite a near 3% negative impact from the stronger US dollar [35] - Organic revenue growth was 9% or 31% on a two-year stack basis [36] - Adjusted EBITDA was $47.4 million, down 10% from a year ago, impacted by inflationary pressures and foreign exchange headwinds [38][39] - GAAP net loss was $2.4 million, compared to a loss of $15 million in the same period a year ago [39] - Free cash flow was positive at $3.5 million [40] Business Line Data and Key Metrics Changes - In the US and Canada segment, total revenue increased 8.5% to $251 million, with organic growth of 6% [40] - Adjusted EBITDA for the US and Canada decreased 8% to $26 million, with margins declining 180 basis points to 10.4% [43] - The International segment saw net revenue grow 5.2% to $94 million, with organic revenue increasing 13% [47] - Market Development segment revenues increased 6.5% to $30.9 million, with organic growth of 19.2% [51][52] Market Data and Key Metrics Changes - Global organic revenue growth was approximately 9%, with strong performance in Mexico, Australia, and New Zealand [11][21] - International points of access expanded by more than 200 in the second quarter, totaling over 3,400 [21][48] - E-commerce represented 17.5% of retail sales, up from less than 10% pre-pandemic [26] Company Strategy and Development Direction - The company aims to expand its omnichannel model and has added 382 fresh points of access globally [10][36] - The focus remains on the hub-and-spoke model to drive efficiency and revenue growth [32][90] - The company plans to open at least three new countries per year and has signed agreements in Switzerland, Jordan, Costa Rica, and Chile [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term growth despite short-term macro challenges, with a robust pipeline of low capital points of access [31][60] - The company anticipates inflation to moderate significantly looking ahead into 2023 [19][59] - Management remains confident in achieving a long-term growth algorithm of 9% to 11% annual organic revenue growth [61] Other Important Information - The company is reviewing underperforming Hubs without Spokes and expects to close approximately 10 shops [57] - The company announced an acquisition of a Midwest US franchise for $18.5 million, adding seven profitable shops [56] Q&A Session Summary Question: What defines the US Hubs without Spokes that will be closed? - Management indicated that the decision is based on the ability to convert these shops to the hub-and-spoke model, with some being underperforming and not sustainable in the long run [62][64] Question: What are the drivers of the improvement in organic growth in July? - Management noted that promotional activity, merchandising mix, and strategic pricing contributed to the improvement, alongside the growth in points of access [65][66] Question: How is the profitability of DFD Doors being managed? - Management emphasized the importance of route profitability and continuous refinement of capabilities to ensure optimal performance across DFD Doors [70][78] Question: What is the biggest resistance to pricing in the US? - Management stated that strategic pricing is essential, and they continuously seek to innovate and provide value to customers while managing inflation [83][84] Question: Has the long-term growth outlook changed? - Management confirmed that the long-term growth algorithm remains intact, with strong top-line momentum and reduced commodity inflation expected for 2023 [95][96]

Table of Contents Title of each class Trading Symbol Name of each exchange on which registered Common stock, $0.01 par value per share DNUT Nasdaq Global Select Market 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 July 3, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURI ...

Krispy Kreme, Inc. (NASDAQ:DNUT) Q1 2022 Earnings Conference Call May 11, 2022 8:30 AM ET Company Participants Rob Ballew - IR Michael Tattersfield - CEO, President & Director Joshua Charlesworth - COO & CFO Conference Call Participants Katherine Griffin - Bank of America Merrill Lynch John Ivankoe - JPMorgan Chase & Co. Stephen Lengel - Truist Securities Operator Good day, and thank you for standing by. Welcome to the Krispy Kreme First Quarter 2022 Earnings Call. [Operator Instructions]. I would now like ...