THE J.M. SMUCKER CQ. Fiscal 2022 Second Quarter Earnings SUPPLEMENTARY INFORMATION November 23, 2021 Consolidated Results | --- | --- | --- | --- | |------------------------------------------|----------|----------|------------| | ($ in millions, except per share data) | FY22 Q2 | FY21 Q2 | YoY Change | | Net Sales | $2,050.0 | $2,034.0 | 1% | | Adjusted Gross Profit | $730.9 | $786.7 | (7%) | | Adjusted Gross Profit Margin | 35.7% | 38.7% | -300bps | | Adjusted Operating Income | $387.9 | $408.8 | (5%) | | ...

Financial Data and Key Metrics Changes - The company increased its full year net sales guidance by approximately $160 million or 2% at the midpoint, driven by better than anticipated elasticities from pricing actions and underlying business momentum [9][10] - Free cash flow target for the fiscal year is now $700 million, impacted by a decrease in year-over-year earnings and increased inventory levels [24][25] - SG&A expenses are projected to decrease by approximately 7%, attributed to cost management and organizational restructuring [58] Business Line Data and Key Metrics Changes - Uncrustables brand is expected to double sales to $1 billion in the next five years, contributing significantly to the company's organic growth target [12][16] - Milk-Bone pet snacks experienced a 17% growth in the quarter, supported by effective advertising and innovation [51][93] Market Data and Key Metrics Changes - The company noted low double-digit year-over-year cost inflation, equating to over $550 million against the total cost basket, driven by commodity, ingredient, packaging, transportation, and labor-related inflation [68][69] - The company is experiencing strong sales momentum across its brands, with private-label brands losing market share [47][51] Company Strategy and Development Direction - The company is focused on investing in growth areas, particularly in brands like Uncrustables and Milk-Bone, while maintaining marketing investments despite inflationary pressures [14][100] - The company has consolidated its marketing efforts with a single agency to enhance execution and effectiveness [113][116] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating supply chain challenges and inflation, attributing success to agile execution and detailed supply chain management [36][70] - The company anticipates continued inflationary pressures but believes it can manage through pricing actions and productivity initiatives [72][70] Other Important Information - The company is investing in new facilities to support growth, particularly for Uncrustables, with a second facility planned to enhance production capacity [12][16] - The company has not made significant changes to its marketing strategy despite stronger than anticipated demand [99] Q&A Session Summary Question: On elasticity and volume growth - Management acknowledged that volume elasticity has been lower than expected but is building in greater elasticity for the second half of the fiscal year due to pricing actions [8][10] Question: On Uncrustables growth and distribution - Management confirmed that Uncrustables has significant growth potential, with plans to expand distribution and marketing efforts [12][16] Question: On free cash flow and inventory challenges - Management explained that inventory increases are driven by working capital requirements and supply chain challenges, expecting elevated levels in the near term [24][25] Question: On inflation and pricing actions - Management indicated that pricing actions are intended to recover inflation costs, with additional rounds of pricing planned for the fourth quarter [72][73] Question: On marketing strategy adjustments - Management stated that marketing budgets remain aligned with previous years, with continued investment in key brands [99] Question: On labor challenges - Management noted that labor challenges are systemic and vary by geography, affecting both internal operations and distribution [91][92]

THE J.M. SMUCKER CQ2 First Quarter Fiscal 2022 Earnings SUPPLEMENTARY INFORMATION August 26, 2021 Consolidated Results | --- | --- | --- | --- | |------------------------------------------|----------|----------|------------| | ($ in millions, except per share data) | FY22 Q1 | FY21 Q1 | YoY Change | | Net Sales | $1,858.0 | $1,971.8 | (6%) | | Adjusted Gross Profit | $646.2 | $759.2 | (15%) | | Adjusted Gross Profit Margin | 34.8% | 38.5% | -370bps | | Adjusted Operating Income | $323.4 | $404.5 | (20%) | | ...

For the quarterly period ended: July 31, 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: 1-5111 ___________________________________________________ Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ___________________________________________________ FORM 10-Q ___________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTIONS 13 OR 15(d) ...

The J. M. Smucker Company (NYSE:SJM) Q1 Fiscal 2021 Earnings Conference Call August 26, 2021 9:00 AM ET Company Participants Mark Smucker – President and Chief Executive Officer Tucker Marshall – Chief Financial Officer Aaron Broholm – Vice President Investor Relations Conference Call Participants Andrew Lazar – Barclays Ken Goldman – JP Morgan Chris Growe – Stifel Bryan Spillane – Bank of America Alexia Howard – Bernstein Rob Dickerson – Jefferies Jason English – Goldman Sachs Pamela Kaufman – Morgan Stanl ...

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 April 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Com ...

Financial Data and Key Metrics Changes - Fiscal 2021 net sales increased by 3%, with a 5% growth when excluding divested businesses and foreign currency exchange [13] - Adjusted earnings per share for fiscal 2021 was $9.12, a 4% increase, exceeding guidance [14] - Free cash flow reached $1.26 billion, above expectations of $1.1 billion [14] - Fourth quarter net sales declined 8% year-over-year, with a 3% decrease when excluding divestitures and foreign exchange [16][28] - Adjusted earnings per share for the fourth quarter was $1.89, reflecting a 26% decline [30] Business Line Data and Key Metrics Changes - Pet food segment net sales decreased 6% excluding divested businesses, but showed growth on a two-year basis [17] - Coffee segment net sales were comparable to the prior year, with a 5% increase on a two-year CAGR basis [32] - Consumer Foods segment net sales decreased 13%, but increased 1% on a comparable basis [33] - Uncrustables brand delivered nearly $130 million in net sales for the quarter, marking its 28th consecutive quarter of growth [20] Market Data and Key Metrics Changes - E-commerce accounted for 12% of U.S. retail net sales for the full year [9] - The total U.S. pet population grew by an estimated high single-digit percentage [17] - Retail sales of coffee brands grew 17% over the last 52 weeks, significantly outpacing category growth [18] Company Strategy and Development Direction - The company is focused on four execution priorities: driving commercial excellence, streamlining cost infrastructure, reshaping the portfolio, and unleashing the organization to win [8][13] - The company is committed to divesting brands inconsistent with long-term strategic focus, optimizing its portfolio towards pet food, coffee, and snacking categories [12] - Increased marketing investment by nearly $40 million or 8% to support brand growth [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued elevated at-home consumption into fiscal 2022, supported by increased pet population and work-from-home trends [22] - The company anticipates a decline in year-over-year earnings per share due to higher costs and the impact of divestitures [24] - Management acknowledged ongoing supply chain challenges and inflation impacting commodity and transportation costs [21] Other Important Information - The company repaid over $860 million of debt during the fiscal year, strengthening its balance sheet [15] - Capital expenditures for the fourth quarter were $108 million, primarily for capacity expansion of Uncrustables [35] - The company plans to maintain a balanced capital deployment model, focusing on reinvestment and returning cash to shareholders [38] Q&A Session Summary Question: Inflation outlook and organic sales growth expectations - Management confirmed expectations for organic sales growth of about 2% at the midpoint of guidance, driven by higher net pricing and continued brand momentum [48][49] Question: Inventory rebuilding expectations - Management indicated that inventory levels are expected to return to normal by the front half of the year, managing supply-demand dynamics effectively [59] Question: SD&A costs and cost savings program - Management clarified that the projected 4% decrease in SD&A costs is driven by ongoing cost management and organizational restructuring [60] Question: Volume and mix expectations - Management expects low single-digit declines in volume and mix, factoring in deceleration in at-home consumption and price elasticities [52][66] Question: Uncrustables sales breakdown - Management confirmed that Uncrustables sales figures include both retail and Away From Home segments, with a 70-30 split [70] Question: Trade spend environment - Management noted that the trade environment is returning to normal, with net pricing expected to be implemented in the second quarter [73]

Financial Performance - Net sales decreased by 8% year-over-year, from $2,092 million in FY20 Q4 to $1,920.2 million in FY21 Q4[2] - Adjusted gross profit decreased by 10% year-over-year, from $806.4 million to $727.0 million[2] - Adjusted operating income decreased by 28% year-over-year, from $431.2 million to $311.6 million[2] - Adjusted EPS decreased by 26% year-over-year, from $2.57 to $1.89[2] - Free cash flow decreased from $211.3 million to $183.0 million[8] Segment Performance (Net Sales YoY Change) - U S Retail Pet Foods net sales decreased by 12% to $674.6 million[11] - U S Retail Consumer Foods net sales decreased by 13% to $419.8 million[11] - International & Away From Home net sales decreased by 7% to $242.7 million[11] - U S Retail Coffee net sales remained flat at $583.1 million[11] Fiscal Year 2022 Outlook - The company expects a net sales decrease of 3% to 2%[13] - Adjusted EPS is projected to be between $8.70 and $9.10[13] - Free cash flow is estimated at $900 million[13] - Capital expenditures are expected to be $380 million[13]

THE J.M. SMUCKER CQ2 Third Quarter Fiscal 2021 Earnings SUPPLEMENTARY INFORMATION February 25, 2021 Consolidated Results | --- | --- | --- | --- | |------------------------------------------|----------|----------|------------| | ($ in millions, except per share data) | FY21 Q3 | FY20 Q3 | YoY Change | | Net Sales | $2,076.7 | $1,972.3 | 5% | | Adjusted Gross Profit | $775.6 | $752.3 | 3% | | Adjusted Gross Profit Margin | 37.3% | 38.1% | -80bps | | Adjusted Operating Income | $403.9 | $395.8 | 2% | | Adjust ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ___________________________________________________ FORM 10-Q ___________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTIONS 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: January 31, 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: 1-5111 _________ ...