Financial Performance - Net sales for Q1 2024 decreased by 3%, aligning with expectations due to challenging macroeconomic conditions and competitive retail environment [6][54] - Gross margins improved by 710 basis points to 35.4%, driven by lower cost inventory and productivity initiatives [7][25] - Adjusted EBITDA increased by 111.8% to $84.3 million, benefiting from improved gross margins and $23 million in investment income [19][26] - Operating income rose by $45.2 million to $25 million, primarily due to gross margin improvements and lower operating expenses [13] Business Unit Performance - Global Pet Care (GPC) reported a slight sales decline of 0.2%, with organic sales down 2%, impacted by SKU rationalization and lower demand in aquatics [58][66] - Home & Garden net sales increased by 0.8%, driven by growth in the Controls category, while the Cleaning category faced softness [33][65] - Home & Personal Care (HPC) saw a 5.8% decrease in reported net sales, with organic sales down 7.6%, primarily due to declines in small kitchen appliances [66][70] Market Performance - EMEA region sales increased due to growth in Companion Animal products, while North America experienced overall sales declines [30][37] - E-commerce sales grew by 28.3% year-over-year, indicating a strong performance in online channels [48] Company Strategy and Industry Competition - The company is focusing on operational efficiencies and investing in brand marketing and innovation to drive long-term growth [20][50] - Plans to separate the HPC segment through a sale, merger, or spin-off are underway, with expectations for a transaction announcement later this year [21][134] - The competitive landscape remains challenging, with expectations of continued pricing pressure and cautious inventory management among retailers [36][41] Management Commentary on Operating Environment and Future Outlook - Management expressed cautious optimism about the first quarter results but acknowledged ongoing geopolitical and macroeconomic headwinds [23][93] - The company aims to return to revenue growth and improve operational performance, with a focus on fewer, larger innovations [73][100] Other Important Information - The company returned over $825 million to shareholders through share repurchase programs, reducing the share count by 26% [10][27] - The balance sheet is strong, with a cash balance of $445 million and total debt reduced to approximately $1.4 billion [28][43] Q&A Session Summary Question: Can you discuss the constraints on cash deployment and share repurchases? - Management highlighted a strong balance sheet with no bank debt and emphasized the importance of returning capital to shareholders while focusing on growth [82][83] Question: What gives confidence in returning to growth in HPC? - Management noted that the industry is rationalizing, and as competitors exit the market, there is potential for improved demand patterns [95][96] Question: How is the company addressing innovation and topline growth? - The company is investing in new product development and marketing, with a focus on testing and learning from customer feedback [116][117]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 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 No. | Name of Registrant, State of Incorporation, Address of Principal Offices, and Telephone No. | IRS Employer I ...

Table of Contents 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 30, 2023 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 No. Name of Registrant, State of Incorporation, Address of Principal Offices, and Telephone No. IRS Employer Iden ...

Financial Data and Key Metrics Changes - Net sales decreased by 1.2%, with organic net sales declining by 2.7%, primarily due to lower consumer demand for kitchen appliances and the exit from non-strategic categories in the global pet care business [12][40] - Adjusted diluted EPS increased by 183%, driven by higher adjusted EBITDA, lower interest expense, and a reduced share count [13] - Adjusted EBITDA increased by 52%, attributed to gross profit improvements and interest income [13] Business Line Data and Key Metrics Changes - Global pet care business saw reported net sales increase by 1.6%, while organic net sales decreased by 0.7%, with higher sales in companion animal categories offset by portfolio rationalization and softness in aquatics [41] - Home & Garden reported net sales increased by 7.2%, driven by advertising investments and favorable weather conditions, with adjusted EBITDA increasing by 60% [19][21] - Home and personal care segment reported net sales decreased by 6.3%, with organic net sales down by 7.7%, primarily due to lower consumer demand in kitchen appliances [48] Market Data and Key Metrics Changes - North American sales grew in personal care and garment care categories, while kitchen appliance sales experienced double-digit declines [23] - EMEA region sales grew, driven by double-digit growth in dog and cat food, despite inflationary pressures [42] - The company expects continued suppressed demand in the home and personal care appliance segment, particularly in kitchen appliances, with a low-single-digit decline in top line expected [10][25] Company Strategy and Development Direction - The company is focusing on three key areas: investing in people to improve commercial capabilities, investing in brands and new product roadmaps, and enhancing operational efficiencies [8][36] - A strategic pivot is underway to shift from defensive measures to leveraging opportunities presented by a strong balance sheet and improving margins as the company enters fiscal '24 [6][34] - The company plans to significantly increase investments in advertising and marketing to support brand growth and innovation [9][54] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the future, acknowledging a challenging macroeconomic environment but highlighting a strong balance sheet and improved margin profile [5][34] - The company anticipates a tough first half of fiscal '24, with expectations of low single-digit net sales decline, primarily driven by the home and personal care segment [25][55] - Management is preparing for a potential weakening of consumer demand and is focused on regaining investor confidence through achievable financial goals [37][106] Other Important Information - The company ended the year with a net positive cash position of $1.9 billion and a total debt position of $1.6 billion, becoming a net debt-free company after the HHI sale [32][130] - Capital expenditures for the quarter were $14.7 million, down from $18.7 million the previous year [14] - The company is transitioning its Investor Relations responsibilities to a new Senior Vice President, indicating a shift in focus and strategy [73] Q&A Session Summary Question: What is the outlook for 2024? - Management indicated that while there are uncertainties, they expect a resilient consumer market and are preparing for potential challenges in the first half of 2024 [82][83] Question: How much was the investment in brands in fiscal '23? - Management stated that significant investments in marketing and e-commerce are planned for fiscal '24, with a focus on driving healthier business levels [90] Question: What are the capital allocation priorities this year? - The company is completing a $500 million share repurchase program and is focused on organic business investments while remaining open to potential acquisitions [115] Question: How does the company view the competitive landscape in the HPC space? - Management acknowledged that a large competitor is performing well, and they are focused on improving their own operations and capitalizing on their product strengths [114]

Sp Fiscal 2023 Fourth Quarter and Full Year Earnings Call November 17, 2023 Agenda • Introduction – Faisal Qadir VP, Strategic Finance & Enterprise Reporting • CEO Overview and Outlook – David Maura Chairman and Chief Executive Officer • Financial & Business Review – Jeremy Smeltser Chief Financial Officer • Q&A – David Maura and Jeremy Smeltser 2 Forward-looking Statements 3 We have made or implied certain forward-looking statements in this document. All statements, other than statements of historical fact ...

Financial Data and Key Metrics Changes - Total sales decreased by 10.1%, while organic sales declined by 9.7% due to lower consumer demand and reduced customer replenishment orders [77][103] - The operating loss was $124.7 million, primarily driven by sales decline and impairment charges [78] - Adjusted EBITDA was $98.5 million, increasing despite the decrease in volume due to pricing and cost reduction efforts [109] Business Line Data and Key Metrics Changes - Global Pet Care reported a net sales decrease of 6.2%, with organic sales down 6.4%, largely due to softness in the aquatics marketplace [81] - Home & Garden net sales decreased by 6%, driven by cooler weather and lower sales from replenishment orders [86] - Home & Personal Care saw a reported net sales decrease of 16%, with organic sales down 14.7%, impacted by lower consumer demand and inventory reductions [89] Market Data and Key Metrics Changes - North American sales were adversely impacted by aggressive portfolio management, resulting in the exit of non-strategic categories [112] - The small kitchen appliance market in North America is down mid- to high single digits, with continued pressure expected [120] - Sales in EMEA increased due to growth in the companion animal category, offsetting declines in aquatics [82] Company Strategy and Development Direction - The company aims to enhance the value of its Home and Personal Care business while focusing on profitability and long-term growth [70][151] - Following the sale of HHI, the company is now net debt-free and plans to return capital to shareholders through share buybacks [62][69] - The company is committed to simplifying its business model and reducing costs to operate more efficiently [72] Management's Comments on Operating Environment and Future Outlook - Management acknowledges facing short-term headwinds, particularly in the Home and Garden business, but remains confident in long-term growth [102][151] - The company expects to be towards the lower end of its earnings framework for fiscal '23 due to additional revenue pressure [121] - Management is optimistic about the future and believes the company is well-positioned to return to earnings growth in fiscal '24 [123] Other Important Information - The company has reduced inventory levels by over $250 million since the end of fiscal '22 [105] - The exit from receivables factoring and early pay programs is expected to result in one-time operating cash usage of over $250 million in the current fiscal year [74] Q&A Session All Questions and Answers Question: Can you talk about a possible sale or divestiture of HPC? - The company plans to assess the earnings profile of its appliances business over the next couple of quarters before making any decisions [152] Question: How do you view the earnings power of the company moving forward? - Management believes that while the company is currently below its long-term earnings target, there is potential to close the gap in fiscal '24 through improved capital allocation and operational focus [159]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 2, 2023 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 No. | Name of Registrant, State of Incorporation, Address of Principal Offices, and Telephone No. | IRS Employer Identi ...

Spectrum Brands Holdings, Inc. (NYSE:SPB) Q2 2023 Earnings Conference Call May 12, 2023 9:00 AM ET Company Participants David Maura - CEO Jeremy Smeltser - CFO Faisal Qadir - VP of Strategic Finance & Enterprise Reporting Conference Call Participants Peter Grom - UBS Bob Labick - CJS Securities Olivia Tong - Raymond James Chris Carey - Wells Fargo Securities Ian Zaffino - Oppenheimer & Co. Brian McNamara - Canaccord Genuity Steve Powers - Deutsche Bank Michael O'Brien - Wolfe Research Operator Good day, and ...

[Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) The document contains forward-looking statements based on current expectations, subject to risks and uncertainties that could cause actual results to differ materially - The document contains forward-looking statements based on current expectations, subject to risks and uncertainties that could cause actual results to differ materially[9](index=9&type=chunk)[10](index=10&type=chunk) - Key risk factors include the impact of the COVID-19 pandemic, economic conditions (inflation, recession fears), the Russia-Ukraine conflict, reliance on third-party partners, indebtedness, interest rate and foreign currency fluctuations, changes in consumer demand, competitive pressures, and the ability to complete the HHI divestiture[10](index=10&type=chunk)[13](index=13&type=chunk) [PART I. FINANCIAL INFORMATION](index=6&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=6&type=section&id=Item%201.%20Financial%20Statements) Presents unaudited condensed consolidated financial statements for SBH and SB/RH, covering financial position, income, cash flows, and detailed notes [Spectrum Brands Holdings, Inc. Condensed Consolidated Financial Statements (Unaudited)](index=6&type=section&id=Spectrum%20Brands%20Holdings%2C%20Inc.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) Condensed Consolidated Statements of Financial Position (SBH) (in millions) | Item | April 2, 2023 | September 30, 2022 | | :-------------------------------- | :------------ | :----------------- | | Total current assets | $3,171.3 | $3,235.3 | | Total assets | $5,785.0 | $5,775.6 | | Total current liabilities | $1,176.6 | $1,188.1 | | Total liabilities | $4,595.9 | $4,506.5 | | Total equity | $1,189.1 | $1,269.1 | Condensed Consolidated Statements of Income (SBH) (in millions, except per share) | Item | Three Months Ended April 2, 2023 | Three Months Ended April 3, 2022 | | :--------------------------------------- | :------------------------------- | :------------------------------- | | Net sales | $729.2 | $807.8 | | Gross profit | $214.5 | $255.6 | | Operating loss | $(77.0) | $(8.1) | | Net loss from continuing operations | $(75.0) | $(25.1) | | Income from discontinued operations, net of tax | $21.4 | $41.1 | | Net (loss) income | $(53.6) | $16.0 | | Basic earnings per share | $(1.31) | $0.39 | | Diluted earnings per share | $(1.31) | $0.39 | | Item | Six Months Ended April 2, 2023 | Six Months Ended April 3, 2022 | | :--------------------------------------- | :----------------------------- | :----------------------------- | | Net sales | $1,442.5 | $1,565.0 | | Gross profit | $416.4 | $474.9 | | Operating loss | $(97.2) | $(32.0) | | Net loss from continuing operations | $(115.0) | $(55.3) | | Income from discontinued operations, net of tax | $40.9 | $79.9 | | Net (loss) income | $(74.1) | $24.6 | | Basic earnings per share | $(1.82) | $0.59 | | Diluted earnings per share | $(1.82) | $0.59 | Condensed Consolidated Statements of Cash Flows (SBH) (in millions) | Item | Six Months Ended April 2, 2023 | Six Months Ended April 3, 2022 | | :--------------------------------------- | :----------------------------- | :----------------------------- | | Net cash provided (used) by operating activities | $177.6 | $(206.9) | | Net cash used by investing activities | $(33.8) | $(351.0) | | Net cash (used) provided by financing activities | $(69.6) | $566.7 | | Net change in cash, cash equivalents and restricted cash | $83.9 | $5.8 | | Cash, cash equivalents, and restricted cash, end of period | $327.8 | $195.8 | [SB/RH Holdings, LLC Condensed Consolidated Financial Statements (Unaudited)](index=12&type=section&id=SB%2FRH%20Holdings%2C%20LLC%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) Condensed Consolidated Statements of Financial Position (SB/RH) (in millions) | Item | April 2, 2023 | September 30, 2022 | | :-------------------------------- | :------------ | :----------------- | | Total current assets | $3,260.0 | $3,321.4 | | Total assets | $5,814.9 | $5,861.1 | | Total current liabilities | $1,182.6 | $1,182.6 | | Total liabilities | $4,761.2 | $4,728.0 | | Total equity | $1,053.7 | $1,133.1 | Condensed Consolidated Statements of Income (SB/RH) (in millions) | Item | Three Months Ended April 2, 2023 | Three Months Ended April 3, 2022 | | :--------------------------------------- | :------------------------------- | :------------------------------- | | Net sales | $729.2 | $807.8 | | Gross profit | $214.5 | $255.6 | | Operating loss | $(76.3) | $(7.3) | | Net loss from continuing operations | $(75.2) | $(24.6) | | Income from discontinued operations, net of tax | $21.9 | $41.1 | | Net (loss) income | $(53.3) | $16.5 | | Item | Six Months Ended April 2, 2023 | Six Months Ended April 3, 2022 | | :--------------------------------------- | :----------------------------- | :----------------------------- | | Net sales | $1,442.5 | $1,565.0 | | Gross profit | $416.4 | $474.9 | | Operating loss | $(96.5) | $(30.8) | | Net loss from continuing operations | $(115.0) | $(54.7) | | Income from discontinued operations, net of tax | $41.4 | $79.9 | | Net (loss) income | $(73.6) | $25.2 | Condensed Consolidated Statements of Cash Flows (SB/RH) (in millions) | Item | Six Months Ended April 2, 2023 | Six Months Ended April 3, 2022 | | :--------------------------------------- | :----------------------------- | :----------------------------- | | Net cash provided (used) by operating activities | $167.2 | $(239.3) | | Net cash used by investing activities | $(33.8) | $(351.0) | | Net cash (used) provided by financing activities | $(59.1) | $599.2 | | Net change in cash, cash equivalents and restricted cash | $84.0 | $5.9 | | Cash, cash equivalents, and restricted cash, end of period | $326.6 | $194.2 | [Notes to the Condensed Consolidated Financial Statements](index=18&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed notes to the condensed consolidated financial statements for both Spectrum Brands Holdings, Inc. and SB/RH Holdings, LLC, covering significant accounting policies, recent accounting standards, details on divestitures, restructuring charges, revenue recognition, debt, derivatives, and segment information [NOTE 1– BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES](index=18&type=section&id=NOTE%201%E2%80%93%20BASIS%20OF%20PRESENTATION%20AND%20SIGNIFICANT%20ACCOUNTING%20POLICIES) The financial statements are unaudited and prepared in accordance with GAAP for interim financial information. The fiscal year ends September 30, with quarterly periods approximately thirteen weeks long - The unaudited condensed consolidated financial statements are prepared in accordance with GAAP for interim financial information and Form 10-Q instructions[46](index=46&type=chunk) - The fiscal year ends September 30, with quarterly periods approximately thirteen weeks long, except for the first and fourth quarters[47](index=47&type=chunk) - ASU 2020-04 (Reference Rate Reform) adoption had no material impact; ASU 2022-04 (Supplier Finance Programs) is currently being evaluated for its effect[48](index=48&type=chunk)[49](index=49&type=chunk) [NOTE 2 – DIVESTITURES](index=18&type=section&id=NOTE%202%20%E2%80%93%20DIVESTITURES) The Company's Hardware and Home Improvement (HHI) segment is classified as held for sale and reported as discontinued operations. The sale to ASSA ABLOY AB for $4.3 billion is expected to close by June 30, 2023 - The HHI segment is classified as held for sale and its operations as discontinued, with a definitive agreement to sell to ASSA ABLOY AB for **$4.3 billion**[51](index=51&type=chunk) - The HHI transaction is expected to close by June 30, 2023, following a settlement with the DOJ where ASSA ABLOY agreed to divest Emtek and Smart Residential Business to Fortune Brands[56](index=56&type=chunk) Income from Discontinued Operations, Net of Tax (in millions) | Period | April 2, 2023 | April 3, 2022 | | :--------------------------------------- | :------------ | :------------ | | Three Months Ended | $21.4 | $41.1 | | Six Months Ended | $40.9 |

Spectrum Brands Fiscal 2023 Second Quarter Earnings Call 2 Agenda • CEO Overview and Outlook – David Maura Chairman and Chief Executive Officer • Financial & Business Review – Jeremy Smeltser Chief Financial Officer Forward-looking Statements 3 Since these forward-looking statements are based upon our current expectations of future events and projections and are subject to a number of risks and uncertainties, many of which are beyond our control and some of which may change rapidly, actual results or outcom ...