FOURTH QUARTER AND FULL YEAR 2025 REVIEW February 12, 2026 REGARDING FORWARD -LOOKING STATEMENTS Statements contained in this presentation and certain other written or oral statements made from time to time by Flowers Foods, Inc. (the "company", "Flowers Foods", "Flowers", "us", "we", or "our") and its representatives that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to current expectations regar ...

Financial Performance - Q1 2025 - Net sales decreased by 1.4% year-over-year to $1.554 billion, influenced by softer volumes and negative price/mix, but partially offset by the Simple Mills acquisition[8, 11] - Net income decreased by 27.4% year-over-year to $53.0 million, primarily due to lower operating income, higher net interest expense, and a higher income tax rate[8, 14] - Adjusted EBITDA increased by 1.6% year-over-year to $162.0 million, driven by improved gross margin and lower adjusted SD&A, partially offset by decreased net sales[8, 14] - GAAP diluted EPS decreased by $0.09 to $0.25, while adjusted diluted EPS decreased by $0.03 to $0.35[8] Sales Breakdown - Branded Retail net sales declined by 0.4% due to volume declines and unfavorable price/mix resulting from increased promotional activity, partially offset by the acquisition contribution[11] - Other net sales decreased by 3.3% due to softer volumes across most categories as inflationary pressure on consumers resulted in weaker away-from-home category sales[11] - Price/Mix had a -0.3% impact on total net sales, Volume had a -2.7% impact, and the Acquisition contributed +1.6%[8, 13] Fiscal Year 2025 Guidance - Net sales are projected to be between $5.297 billion and $5.395 billion, including $218 to $225 million from Simple Mills[19] - Adjusted EBITDA is expected to be between $534 million and $562 million, including $30 to $33 million from Simple Mills[19] - Adjusted diluted EPS is forecasted to be between $1.05 and $1.15, including a negative impact of ($0.08) to ($0.07) from Simple Mills[19]