Earnings release
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GRUPO BIMBO THIRD QUARTER 2026 RESULTS “Our third-quarter performance reflects the strength of our brands and the consistent execution of our teams across the organization. We continued to deliver profitable growth, driven by a deep connection with our consumers, meaningful progress in our North America transformation, and excellent momentum in Mexico. We enter the final months of the year with confidence in our strategy, our teams, and our ability to create long-term shareholder value.” – Alejandro Rodriguez Bas, CEO “This was an exceptional quarter. Organic growth that translated into expansions throughout our margins, together with strong Free Cash Flow generation, allowed us to further reduce our leverage, while still investing in our business and returning cash to our shareholders. This performance gives us great confidence as we look ahead to 2027.” – Diego Gaxiola, CFO October 22, 2026
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1. Figures included in this document are prepared in accordance with International Financial Reporting Standards (IFRS). 2. Earnings before interests, taxes, depreciation, amortization, impairments and Multiemployer Pension Plans (“MEPPs”). 3. Free Cash Flow: Adjusted EBITDA w/o IFRS16 minus CAPEX (which does not include M&A), Taxes and Net Interest, plus Working Capital for the period. 4. For this ratio’s calculation Adjusted EBITDA does not consider the effect of IFRS16. 5. Excluding FX rate effect. Grupo Bimbo S.A.B. de C.V. (“Grupo Bimbo” or “the Company”) (BMV: BIMBO) reports its financial results for the three-month period ended September 30, 2026.1 THIRD QUARTER HIGHLIGHTS ▪ Net Sales increased 3.6% excluding the impact of FX, led by organic sales growth due to favorable price/mix and positive volumes, coupled with the contribution from recent acquisitions ▪ Gross margin expanded 80 basis points to 53.1% ▪ Adj. EBITDA2 increased 9.3% and the margin expanded 100 basis points to 15.7% ▪ Net Majority Income rose 24.0% and the margin expanded 80 basis points to 3.9% ▪ Free Cash Flow3 reached nearly Ps. 17 billion during the first nine months of 2026 ▪ North America delivered a third consecutive quarter of Net Sales growth; Adj. EBITDA margin expanded 40 basis points to 10.8% ▪ Mexico Net Sales advanced 5.2%, while Adj. EBITDA margin expanded 200 basis points to 22.4% ▪ EAA delivered Net Sales growth of 2.1%, and Adj. EBITDA margin expanded 110 basis points to 12.3% ▪ Net Debt to Adj. EBITDA4 closed at 2.4 times, an improvement of 0.3 times from December 31, 2025 ▪ At the 11th Bimbo Global Race, more than 171 thousand participants helped donate over 3.4 million slices of bread to food banks worldwide RECENT DEVELOPMENTS 2 ▪ Grupo Bimbo was named among the World’s Most Trustworthy Companies in 2026 by Newsweek ▪ For the third consecutive year, TIME magazine recognized Grupo Bimbo as one of 2026 World's Best Companies ▪ The Company was listed among the World’s Best Employers in 2026 by Forbes ▪ Grupo Bimbo was recognized by Merco as the Company with the Best Corporate Reputation in Mexico for the 10th consecutive year FINANCIAL SUMMARY 3Q26 3Q25 Change (MXN) Change (excl. FX)5 Net Sales 106,061 107,427 (1.3%) 3.6% Gross Profit 56,299 56,190 0.2% 5.0% Operating Income 10,390 9,403 10.5% 12.9% Adjusted EBITDA 16,644 15,776 5.5% 9.3% Net Majority Income 4,109 3,364 22.1% 24.0% Net Debt/Adj. EBITDA 2.4x 2.8x (0.4x) - (MILLIONS OF MEXICAN PESOS)
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Excluding FX, Net Sales increased 3.6%, led by organic sales growth due to favorable price/mix and positive volumes coupled with the contribution from recent acquisitions. In peso terms, Net Sales declined 1.3%, as the stronger Mexican peso weighed on the translation of international results. Consolidated results exclude inter-company transactions. Excluding FX, Net Sales rose 1.0%, marking the region’s third consecutive quarter of growth. The result reflects disciplined commercial execution, as favorable price/mix and share gains across key categories more than offset lower volumes. NORTH AMERICA7 6. Inter-company transactions have been removed from Mexico. 7. North America region includes operations in the United States and Canada. North America 41.9% Mexico6 34.2% EAA 12.7% LatAm 11.2% Net Sales increased 5.2%, supported by growth across categories and channels, favorable mix, positive volumes, strong brand execution, high service levels and innovation. Salty snacks, pastries, cakes and buns & rolls, as well as the convenience and wholesale channels, outperformed. MEXICO 3 Revenue mix for the last twelve months ended September 30, 2026. Net Sales 3Q26 3Q25 % Δ (MXN) % Δ (excl. FX) North America 44,241 47,470 (6.8) 1.0 Mexico 40,905 38,897 5.2 5.2 EAA 13,371 14,370 (7.0) 2.1 Latin America 12,047 10,714 12.4 15.2 Grupo Bimbo 106,061 107,427 (1.3) 3.6 N E T S A L E S (MILLIONS OF MEXICAN PESOS)
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Excluding FX, Net Sales grew 15.2%, driven by positive volume trends and strong performance across most countries, as well as by the contribution from the Wickbold acquisition. Notable growth came from Central America, Argentina, Peru, Colombia and Chile. Net Sales advanced 2.1% excluding FX, primarily driven by positive performance in local currencies across almost every organization and favorable volume and price/mix, notably Bimbo QSR, India, Bimbo Adria in the Balkans and the U.K., coupled with the contribution from the Bonel acquisition in Tunisia. This was partially offset by a challenging environment in Romania and China’s branded business. Third-quarter Gross Profit increased 5.0% on a currency-neutral basis, and the margin expanded 80 basis points to 53.1%, driven by favorable price/mix, lower commodity costs, FX hedging benefits and manufacturing efficiencies mainly in the U.S., related to the transformation project. 8. EAA region includes operations in Europe, Asia and Africa. 9. Latin America region includes operations in Central and South America. Consolidated results exclude inter-company transactions. EAA8 LATIN AMERICA9 G R O S S P R O F I T (MILLIONS OF MEXICAN PESOS) Regional results do not reflect intercompany royalties, and consolidated results exclude intercompany transactions. O P E R A T I N G I N C O M E (MILLIONS OF MEXICAN PESOS) 4 Operating Income Operating Margin (%) 3Q26 3Q25 % Δ (MXN) % Δ (excl. FX) 3Q26 3Q25 Δ pp. North America 2,493 2,279 9.4 18.5 5.6 4.8 0.8 Mexico 7,038 5,901 19.3 19.3 17.2 15.2 2.0 EAA 783 772 1.4 12.2 5.9 5.4 0.5 Latin America 9 187 (95.3) (95.2) 0.1 1.7 (1.6) Grupo Bimbo 10,390 9,403 10.5 12.9 9.8 8.8 1.0 Gross Profit Gross Margin (%) 3Q26 3Q25 % Δ (MXN) % Δ (excl. FX) 3Q26 3Q25 Δ pp. North America 24,253 26,223 (7.5) 0.2 54.8 55.2 (0.4) Mexico 23,311 21,352 9.2 9.2 57.0 54.9 2.1 EAA 4,798 5,052 (5.0) 4.4 35.9 35.2 0.7 Latin America 5,002 4,577 9.3 11.7 41.5 42.7 (1.2) Grupo Bimbo 56,299 56,190 0.2 5.0 53.1 52.3 0.8
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Adjusted EBITDA rose 9.3% on a currency-neutral basis, and the margin expanded 100 basis points to 15.7%, primarily reflecting solid top-line performance and the benefits of ongoing productivity and cost-discipline initiatives. Operating Income increased 12.9% on a currency-neutral basis, and the margin improved 100 basis points to 9.8%, primarily reflecting strong sales performance, lower cost of sales and productivity savings along the value chain, mostly in North America. It was further supported by lower administrative and restructuring expenses, which more than offset higher distribution expenses. Regional results do not reflect intercompany royalties, and consolidated results exclude intercompany transactions. A D J U S T E D E B I T D A (MILLIONS OF MEXICAN PESOS) Building on a strong 3Q25, the margin improved 40 basis points to 10.8%, as productivity benefits from the transformation initiatives, favorable price/mix and reduced restructuring expenses more than offset lower volumes, higher logistics costs and the impact of a stronger peso on imported products from Mexico. NORTH AMERICA 5 The margin expanded 200 basis points to 22.4%, driven by healthy top-line growth, lower cost of sales, and reduced administrative expenses, reflecting the benefits of the Company's ongoing cost-reduction and efficiency initiatives. MEXICO EAA margin improved 110 basis points to 12.3%, primarily due to sales growth, lower cost of sales and lower restructuring expenses in Spain, partially offset by higher general expenses. EAA Third quarter margin contracted 130 basis points to 7.3%, primarily reflecting challenging operating conditions in Brazil, including the Wickbold integration. This was partially offset by strong results in Central America, Colombia and Chile. LATIN AMERICA Adjusted EBITDA Adjusted EBITDA Margin (%) 3Q26 3Q25 % Δ (MXN) % Δ (excl. FX) 3Q26 3Q25 Δ pp. North America 4,800 4,932 (2.7) 5.5 10.8 10.4 0.4 Mexico 9,152 7,941 15.2 15.2 22.4 20.4 2.0 EAA 1,638 1,607 1.9 12.2 12.3 11.2 1.1 Latin America 885 921 (3.9) (2.2) 7.3 8.6 (1.3) Grupo Bimbo 16,644 15,776 5.5 9.3 15.7 14.7 1.0
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Net Financing Cost totaled Ps. 3,142 million, a 5.9% decrease versus 3Q25, mainly reflecting reduced net interest expense and a lower foreign exchange loss. Net Majority Income increased 24.0% excluding FX, and the margin improved 80 basis points to 3.9%, driven by higher operating income and a lower net financing cost. N E T F I N A N C I N G C O S T (MILLIONS OF MEXICAN PESOS) N E T M A J O R I T Y I N C O M E (MILLIONS OF MEXICAN PESOS) As of September 30, 2026, Net Debt totaled Ps. 135 billion, down from Ps. 145 billion at year-end 2025, primarily due to strong cash flow generation driven by solid operating performance and working capital improvement. Average debt maturity was 9.4 years, at an average cost of 6.5%. Long-term debt represented 91% of the total. By currency, 43% was denominated in U.S. dollars, 40% in Mexican pesos, 12% in euros, 3% in Canadian dollars and 2% in British pounds. Excluding the effect of IFRS16, the Net Debt to Adjusted EBITDA ratio ended the quarter at 2.4 times, an improvement of 0.3 times from 2.7 times at December 31, 2025. F I N A N C I A L S T R U C T U R E 6 A M O R T I Z A T I O N P R O F I L E11 (MILLIONS OF US DOLLARS) 10. Considers derivatives, withholding tax, and additional costs. 11. Figures in USD as of September 30, 2026, converted with FX of $17.84. The amortization profile does not include US$78 million of long-term debt at the subsidiary level (maturity range 2027-2034). Net Majority Income Net Majority Margin (%) 3Q26 3Q25 % Δ (MXN) % Δ (excl. FX) 3Q26 3Q25 Δ pp. Grupo Bimbo 4,109 3,364 22.1 24.0 3.9 3.1 0.8 2% 3% 12% 40% 43% GBP CAD EUR MXN USD Currency Mix 10 900 550 800 498 650 560 585 87 540 125 232 715 673 441 137 699 181 160 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 … 2044 … 2047 2048 2049 2050 2051 USD Bonds MXN Bonds Bank Loans
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7 The conference call will be held today, Thursday, October 22, 2026 5:00 P.M. - Eastern Time 4:00 P.M. - Central Time 3:00 P.M. - Mexico City Time To join the conference call, please access the following link: Zoom Webinar Registration C O N F E R E N C E C A L L I N F O R M A T I O N Grupo Bimbo is the leader and largest baking Company in the world and a relevant participant in snacks. It has presence in 102 countries worldwide, operating directly in 39 and serving another 63 through strategic partnerships. Its operations span the Americas, Europe, Asia, and Africa, with 250 bakeries and snackeries, and more than 1,600 sales centers. With annual sales of over US$23 billion, the Company offers a diversified product portfolio, its main categories include sliced and artisan bread, buns & rolls, pastries, cakes, cookies, toasts, English muffins, bagels, tortillas & flatbreads, and salty snacks, among others. Grupo Bimbo operates one of the largest direct-store-delivery networks in the world, with more than 54,000 routes and over 152,000 associates. Its shares are listed on the Mexican Stock Exchange (BMV) under the ticker symbol BIMBO, and trade in the U.S. over-the-counter market through a Level 1 ADR under the ticker symbol BMBOY. A B O U T G R U P O B I M B O This announcement contains certain statements regarding the expected financial and operating performance of Grupo Bimbo, S.A.B. de C.V., which are based on current financial information, operating levels, and market conditions, as well as on estimations of the Board of Directors of the Company related to possible future events. The results of the Company may differ in regards with those expressed on these statements, due to different factors that are beyond the Company’s control, such as: adjustments in price levels, variations in the costs of its raw materials, changes in laws and regulations, or economic or political conditions not foreseen in the countries where the Company operates. Therefore, the Company is not responsible for such differences in the information and suggests that readers review such statements prudently. Moreover, the Company will not undertake any obligation to publicly release any revisions to the statements due to variations of such factors after the date of this press release. N O T E O N F O R W A R D - L O O K I N G S T A T E M E N T S ir@grupobimbo.com www.grupobimbo.com I N V E S T O R R E L A T I O N S C O N T A C T
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C O N S O L I D A T E D B A L A N C E S H E E T (MILLIONS OF MEXICAN PESOS) Sep, 2026 Dec, 2025 % Change TOTAL ASSETS 416,675 409,805 1.7 CURRENT ASSETS 77,109 64,671 19.2 Cash and Equivalents 17,459 8,535 104.6 Trade and Other Current Accounts Receivable 29,919 27,707 8.0 Inventories 17,261 17,151 0.6 Other Current Assets 11,867 10,392 14.2 Assets Available for Sale 603 886 (31.9) Property, Plant and Equipment 155,790 157,423 (1.0) Intangible Assets, Other Financial Assets and Investment in Associates 139,938 143,190 (2.3) Lease Rights of Use 31,757 32,757 (3.1) Other Assets 12,081 11,764 2.7 TOTAL LIABILITIES 292,869 289,551 1.1 CURRENT LIABILITIES 97,799 90,573 8.0 Trade Accounts Payable 39,365 40,228 (2.1) Short-term Debt 13,636 12,635 7.9 Short-term Lease Liability 7,173 7,076 1.4 Other Current Liabilities 37,625 30,634 22.8 Long-term Debt 139,166 141,028 (1.3) Long-term Lease Liability 26,867 27,714 (3.1) Other Long-term Non-Financial Liabilities 29,037 30,236 (4.0) SHAREHOLDERS’ EQUITY 123,806 120,254 3.0 Minority Shareholders’ Equity 610 743 (17.9) Majority Shareholders’ Equity 123,196 119,511 3.1 C O N S O L I D A T E D I N C O M E S T A T E M E N T (MILLIONS OF MEXICAN PESOS) 3Q26 3Q25 % Change Net Sales 106,061 107,427 (1.3) Cost of Goods Sold 49,762 51,237 (2.9) GROSS PROFIT 56,299 56,190 0.2 General Expenses 45,052 45,601 (1.2) Other Expenses (Income), Net 857 1,186 (27.7) OPERATING INCOME (LOSS) 10,390 9,403 10.5 Net Financing Cost 3,142 3,337 (5.9) Interest Paid Net 2,829 3,142 (10.0) Exchange Rate Loss (Gain) 194 229 (15.1) Net Monetary Loss (Gain) 119 (34) (>100%) Share of Net Profit of Associates 1 73 (98.9) NET INCOME BEFORE TAXES 7,249 6,139 18.1 Income Taxes 2,682 2,309 16.2 INCOME (LOSS) FROM CONTINUED OPERATIONS 4,567 3,830 19.3 Net Minority Income 458 466 (1.7) NET MAJORITY INCOME 4,109 3,364 22.1 ADJUSTED EBITDA 16,644 15,776 5.5 8