Brendan Foley Chairman, President and Chief Executive Officer 3rd Quarter 2025 McCormick & Company, Inc. Business Update, Financial Results, and Outlook | October 7, 2025 The following slides accompany an October 7, 2025 earnings release conference call. This information should be read in conjunction with the press release issued on that date. Actual results could differ materially from those projected in the forward-looking statements. The Company undertakes no obligation to update or revise publicly any f ...

Well, especially in the food and drink industry, we are not only is it a frenzy, but it's not necessarily merging. It's merging and decoupling and splitting off and breaking up and moving things around and sharing, you know, sending one brand over here and one brand over there. The industry is has been struggling and people are looking for ways to focus, focus on the things that are working and get rid of the things that are not.Do you assume in your experience they'll do better split. No, no, no. I mean, I ...

Acquisition Overview - McCormick will acquire an additional 25% ownership in McCormick de Mexico for $750 million, increasing its total ownership to 75%[11, 11] - The acquisition is expected to close early in 2026[13, 38] - The company expects the acquisition to be accretive to earnings in year 1, inclusive of eliminating 25% of McCormick de Mexico's Net Income[13] Financial Impact - McCormick de Mexico has approximately $810 million in net sales and $180 million in EBITDA, with $16 million in annual management fees[13, 40] - The transaction value implies a multiple of 12x 2025 EBITDA and annual management fees[38] - The company anticipates adjusted operating margin accretion, primarily in the Consumer segment, in year 1[13, 38] - The company expects mid-single digit sales growth, aligned with long-term objectives[38] - The company anticipates approximately $10 million - $12 million in transaction costs[38] Strategic Rationale - The acquisition advances flavor leadership in Mexico, an attractive and growing market[12, 48] - The acquisition expands the global condiment platform and capitalizes on the growing demand for flavor[12] - The acquisition reinforces mayonnaise as a core component of the condiments and sauces portfolio[12, 48] - The acquisition provides a strategic platform for broader growth across Latin America[12, 23, 48]