Interim report
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Management Discussion and Analysis of Unaudited Financial Condition and Results of Operations for the First Quarter Ended 31 July 2026 For inquiries, please contact: Iggy Sison Jennifer Luy Tel: +632 8856 2888 Tel: +65 6594 0980 isison@delmontepacific.com jluy@delmontepacific.com AUDIT First Quarter FY2027 results covering the period from 1 May 2026 to 31 July 2026 have neither been audited nor reviewed by the Group’s auditors. ACCOUNTING POLICIES The accounting policies adopted in the preparation of the unaudited interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s FY2026 annual consolidated financial statements, except for the adoption of the following amendments effective beginning 1 May 2026. Adoption of these new standards did not hav e any significant impact on the Group’s consolidated financial statements. ▪ Amendments to Illustrative Examples on IFRS 7, IFRS 18, IAS 1, IAS 8, IAS 26 and IAS 37, Disclosures about Uncertainties in the Financial Statements ▪ Amendments to IFRS 9 and IFRS 7, Classification and Measurement of Financial Instruments ▪ Amendments to IFRS 9 and IFRS 7, Contracts Referencing Nature-dependent Electricity ▪ Annual Improvements to IFRS Accounting Standards—Volume 11 o Amendments to IFRS 1, Hedge Accounting by a First-time Adopter o Amendments to IFRS 7, Gain or Loss on Derecognition o Amendments to IFRS 9, Lessee Derecognition of Lease Liabilities and Transaction Price o Amendments to IFRS 10, Determination of a ‘De Facto Agent’ o Amendments to IAS 7, Cost Method The Company’s unaudited interim condensed consolidated financial statements as of 31 July 2026 and for the three months ended 31 July 2026 and 2025 are prepared in accordance with IAS 34, Interim Financial Reporting, and should be read with the 2026 annual consolidated financial statements. DISCLAIMER This announcement may contain statements regarding the business of Del Monte Pacific Limited and its subsidiaries (the “Group”) that are of a forward-looking nature and are therefore based on management’s assumptions about future developments. Such forward-looking statements are typically identified by words such as ‘believe’, ‘estimate’, ‘intend’, ‘may’, ‘expect’, and ‘project’ and similar expressions as they relate to the Group. Forward-looking statements involve certain r isks and uncertainties as they relate to future events. Actual results may vary materially from those targeted, expected or projected due to various factors. Representative examples of these factors include (without limitation) general economic and business conditions, change in business strategy or development plans, weather conditions, crop yields, service providers’ performance, production efficiencies, input costs and availability, competition, shifts in customer demands and DEL MONTE PACIFIC LIMITED
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 2 of 20 Page 2 of 20 9 September 2026 preferences, market acceptance of new products, industry trends, and changes in government and environmental regulations. Such factors that may affect the Group’s future financial results are detailed in the Annual Report. The reader is cautioned not to unduly rely on these forward-looking statements. Neither the Group nor its advisers and representatives shall have any liability whatsoever for any loss arising, whether directly or indirectly, from any use or distribution of this announcement or its contents. This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe to shares in Del Monte Pacific. SIGNED UNDERTAKING FROM DIRECTORS AND EXECUTIVE OFFICERS The Company confirms that the undertakings from all its Directors and Executive Officers, as required in the format set out in Appendix 7.7 under Rule 720(1), have been procured. DIRECTORS’ ASSURANCE Confirmation by Directors Pursuant to Clause 705(5) of the Listing Manual of SGX -ST. We confirm that to the best of our knowledge, nothing has come to the attention of the Board of Directors of Del Monte Pacific Limited that may render these interim financial statements false or misleading in any material aspect. For and on behalf of the Board of Directors of Del Monte Pacific Limited (Signed) Rolando C. Gapud Executive Chairman (Signed) Joselito D. Campos, Jr. Executive Director 9 September 2026
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 3 of 20 Page 3 of 20 9 September 2026 FINANCIAL HIGHLIGHTS - FIRST QUARTER ENDED 31 JULY 2026 For the quarter ended 31 July Turnover 222,053 203,721 9.0 Gross profit 74,727 66,114 13.0 Gross margin (%) 33.7 32.5 1.2 EBITDA 49,269 39,205 25.7 Operating profit 40,981 35,911 14.1 Operating margin (%) 18.5 17.6 0.9 Net profit 16,116 5,507 192.6 Net margin (%) 7.30 2.70 4.6 EPS (US cents) 0.83 0.28 196.4 Net profit attributable to owners of the Company 16,116 5,507 192.6 Net margin (%) 7.3 2.7 4.6 EPS (US cents) 0.83 0.28 196.4 Net debt, continuing operations 969,663 1,020,842 (5.0) Gearing (%) 2 (167.6) (173.1) n.m Net debt to LTM EBITDA 3 5.1 6.9 (1.8) Cash flow from operations 57,574 76,816 (25.0) Capital expenditure 47,098 43,449 8.4 in US$’000 unless otherwise stated 1 % Change Fiscal Year 2027 (Unaudited) Fiscal Year 2026 (Unaudited) 1 The Company’s reporting currency is US dollars. For conversion to S$, the following exchange rates can be used: 1. 28 in July 2026 and 1.29 in July 2025. For conversion to PhP, these exchange rates can be used: 61.44 in July 2026 and 55.99 in July 2025. 2 Gearing = Net Debt / Equity 3 EBITDA = Last twelve months The comparative results for the three months ended 31 July 2026 and 2025 have been presented on a continuing -operations basis and exclude the operations of US-based DMFHL and its subsidiaries, as those have been deconsolidated effective 1 May 2025. REVIEW OF OPERATING PERFORMANCE First Quarter DMPL achieved sales of US$ 222.1 million, an increase of 9.0% from US$203.7 million reported in the same quarter last year. Growth was primarily driven by higher international market sales , partly offset by lower Philippine market sales. The Philippine market generated sales of US$82.6 million during the quarter, up 2.2% in peso terms but down 6.9% in US dollar terms due to peso depreciation. While sales had grown in the inflationary environment due to measured price increases, there was volume softness in the Group’s core segments as consumers were impacted from economic volatility caused by the US-Iran war. For Beverage, Del Monte Juice Drinks capitalised on consumer demand during the summer months with its portfolio of refreshing fruity blends. Within 100% Juice, the Group continued to promote its differentiated health and wellness propositions through Del Monte Pineapple Juice A -C-E’s Triple Immunity Protection, Fiber -Enriched Pineapple Juice’s daily fiber benefit, and Heart Smart Pineapple Juice’s #PusongBreadwinner campaign with Vice
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 4 of 20 Page 4 of 20 9 September 2026 Ganda, encouraging Filipino breadwinners to protect their heart health. Innovation continued with the test market launch of Today’s Mixed Fruits 1.4 kg in a stand -up pouch, a category first for this size and a first in this convenient format. Del Monte Philippines continued to reinforce the strength and relevance of its brands during the quarter, with its marketing programmes earning rec ognition at the Asia Pacific Tambuli Awards, YouTube Works Awards and Marketing Excellence Awards Philippines, across its centennial campaign, brand strategy and integrated marketing initiatives. International sales grew by 21.4% to US$ 118.0 million led by higher volume of fresh pineapple, packaged products, and not-from-concentrate juice. Fresh pineapple maintained its strong momentum, growing by 20.3% on continued higher sales of the S&W Deluxe Pineapple variety. Exports of packaged pineapples also g rew by 23.3%, driven by higher volume and better sales mix. Goodfarmer, S&W’s partner distributor in China for S&W Deluxe Fresh Pineapple , launched fresh-cut pineapples at Sam’s Club, breaking its competitor’s former monopoly in this channel. The Group launched S&W Deluxe Fresh Pineapples in five S&R membership clubs in Metro Manila. Due to overwhelming response, distribution spread to 15 other clubs within 2 months after the initial launch. Meanwhile, McDonald’s Hong Kong launched McDonald’s x Chiikawa collaboration as part of their summer promotion. Featured menu included White Peach Sprite with S&W Fiesta Fruit Cocktail and Ebi Burger with S&W Pineapple Slices. The promotion was launched in more than 250 outlets all over Hong Kong. The Company sustained its market leadership for imported fresh pineapple in North Asia with a 54% share. DMPL delivered a higher gross margin of 33. 7% compared with 32.5% last year, representing an improvement of 120 basis points from the same quarter last year. The margin improvement was primarily driven by pricing actions to offset inflation , favourable foreign exchange impact on international business, and a favourable sales mix with higher sales of Fresh Exports , partly offset by higher product costs caused by volatility in commodity prices from the recent US-Iran war. DMPL reported EBITDA of US$ 49.3 million, higher by 25.7% against the prior quarter, while operating profit rose 14.1% to US$41.0 million from US$35.9 million. Net profit rose to US$16.1 million, a significant improvement from last year’s US$ 5.5 million , reflecting stronger sales, gross margin expansion, improved operating income and decreasing financial costs. DMPL’s net debt/ adjusted EBITDA improved to 5. 1x from 6.9x in the prior year, reflecting stronger operating performance and lower debt level. Net debt declined by US$7.3 million, supported by positive cash flow and continued debt -reduction initiatives. Net debt-to-equity slightly improved to 1.68 x, albeit still negative, as shareholders' equity remained in deficit following the write-down of investments and other assets associated with the discontinued U.S. business in FY2025. As of 31 July 2026, the Group re ported a net capital deficit of US$578.5 million, an improvement of US$11.3 million from 30 April 2026 . In addition, the Group’s current liabilities exceeded its current assets by US$ 609.7 million mainly due to revolving loans extended historically by local partner banks. Cash flow from operations was US$ 57.6 million, down from US$ 76.8 million in the prior year period. The decrease was mainly attributable to higher trade receivables associated with increased international sales. On 4 June 2026, DMPL India Limited (Mauritius), an indirect subsidiary of the Group, completed the disposal of its remaining 1.88 million shares in Sundrop Brands Limited pursuant to the exercise of a put option. The transaction generated net proceeds of approximately US$13.3 million, which supported the Group’s working capital and debt obligations. VARIANCE FROM PROSPECT STATEMENT The Group generated a net profit for the quarter ended July 2026 which was in line with the earlier guidance. BUSINESS OUTLOOK The Group remains focused on growing its Asian operations to drive long -term growth and profitability. DMPL delivered higher sales and improved margins in the first quarter of FY2027, supported by strong growth in its
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 5 of 20 Page 5 of 20 9 September 2026 international businesses, favo urable pricing and sales mix, partly offset by softer Philippine market sales and higher input costs. Geopolitical and Cost Environment The US-Iran war has introduced significant volatility into the Group's cost base, particularly for fuel, fertiliser, and tinplate. Management is actively mitigating these pressures through: • Pricing actions across all markets; • Accelerating productivity initiatives across the supply chain; • Diversifying supplier sources for critical inputs; • Reducing waste and inventory write-offs; • Vigilantly managing all costs and reducing discretionary spend. The Group's stress -testing indicates that the bu siness can withstand moderate adverse movements in these variables within the planning horizon. However, the full impact of the ongoing conflict and El Niño on FY2027 performance remains uncertain and is being closely monitored. Philippines: • Reinforce market leadership in beverage, culinary and packaged fruit; • Launch new products in new segments to broaden consumer base; and • Expand in growth channels of convenience stores, foodservice, drugstores and schools. International: • Maintain market leadership in Fresh MD2 Pineapple across North Asia; • Continue to expand S&W brand presence in key markets, including China and Japan. Operations: Proactively mitigate the impact of El Niño on the supply and quality of pineapple. Outlook: The Group expects the business to maintain profitability in FY2027, although the operating environment remains challenging. Management is confident that the combination of a strong underlying business, targeted operational improvements, and a disciplined restructuring plan will position the Group for sustainable long-term growth. Capital Structure: DMPL has initiated integrated restructuring discussions with its principal creditors and other stakeholders. A comprehensive framework is being developed with the assistance of external financial advisors, focusing on: • Addressing near-term liquidity and maturity pressures; • Strengthening DMPI's balance sheet and cash-generating capacity; • Establishing a sustainable capital structure for the Group. Management recognises that the capital de ficit at the holding company level, arising principally from the impairment of its former U .S. subsidiary, does not fully reflect the financial strength and underlying operating capacity of DMPL’s core Philippine business. At the same time , Management recognises that the performance of DMPI, by itself, is not sufficient to address the Group's total liabilities of US$1.2bn or the negative equity at the DMPL level of US$579m. No equity raise, by itself, is expected to turn DMPL’s equity position to positive. The restructuring is not premised on a single capital raising or other isolated transaction. Rather, Management expects that a combination of measures - including debt restructuring, operational initiatives, asset monetisation, shareholder support and other capital measures - will be required to address the Group's obligations and improve the position of its creditors and other stakeholders. As part of this process, the Group is exploring the divestment of certain assets to simplify the business structure and generate liquidity. Any such transaction would be subject to appropriate approvals, including from minority shareholders where required. In light of the existing negative equity, DMPL does not expect to declare and pay dividends to its shareholders while the capital deficit remains outstanding.
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 6 of 20 9 September 2026 OPERATING SEGMENT AND REVIEW OF TURNOVER - FIRST QUARTER For the quarter ended 31 July In US$’000 FY2027 FY2026 % Chg FY2027 FY2026 % Chg FY2027 FY2026 % Chg FY2027 FY2026 % Chg Turnover Meals and Meal Enhancers 86 274 (68.6) 45,443 49,424 (8.1) 4,094 381 974.5 49,623 50,079 (0.9) Snacking and Desserts - 169 (100.0) 17,795 18,293 (2.7) 11 135 (91.9) 17,806 18,597 (4.3) Premium Fresh Fruit - - - 70,929 58,979 20.3 - - - 70,929 58,979 20.3 Beverages 47 319 (85.3) 39,426 39,624 (0.5) 201 487 (58.7) 39,674 40,430 (1.9) Others 7,346 7,191 2.2 21,478 18,041 19.1 15,197 10,404 46.1 44,021 35,636 23.5 Total Turnover 7,479 7,953 (6.0) 195,071 184,361 5.8 19,503 11,407 71.0 222,053 203,721 9.0 Operating Income 1,454 1,659 (12.4) 47,585 40,564 17.3 4,128 2,624 57.3 53,167 44,847 18.6 Unallocated G&A (8,997) (9,039) 0.5 Other Income (Expense) (3,189) 103 nm Operating Income 1,454 1,659 (12.4) 47,585 40,564 17.3 4,128 2,624 57.3 40,981 35,911 14.1 Americas Asia Pacific Europe Total AMERICAS Sales in the Americas decreased by 6.0% to US$7.5 million, primarily driven by decline in sales across all categories due to lower segment allocation. Americas reported an operating income for the quarter of US$1.5 million versus the prior year quarter’s operating income of US$1.7 million, driven by lower sales. ASIA PACIFIC Asia Pacific’s sales grew by 5.8% to US$195.1 million from US$184.4 million, driven by higher export volume, particularly in China and Korea, and higher pricing, particularly for S&W Deluxe Pineapple offsetting lower Philippine sales. In the Philippines, sales were up 2.2% in peso terms but down 6.9% in US dollar terms due to peso depreciation. The decline in US dollar sales was mainly due to lower volume, partly offset by price increases and lower trade discounts and promotional spending. EUROPE Europe’s sales increased by 71.0% to US$19.5 million, driven by higher sales of packaged pineapples.
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 7 of 20 9 September 2026 REVIEW OF COST OF GOODS SOLD AND OPERATING EXPENSES % of Turnover For the quarter ended 31 July FY2027 FY2026 Explanatory Notes Cost of Goods Sold 66.3 67.5 Improved gross margins was driven by better pricing and favorable translation of DMPI PHP costs due to devaluation of PHP vs US$ Distribution and Selling Expenses 8.6 9.5 Driven by phasing of advertising & promotions spending for Philippine market G&A Expenses 5.1 5.4 As a % of turnover, G&A was lower due to higher sales but actual amount was higher, mainly due to higher salaries Other Operating Expenses (Income) 1.4 (0.1) Higher miscellaneous accruals REVIEW OF OTHER MATERIAL CHANGES TO INCOME STATEMENTS In US$'000 For the quarter ended 31 July FY2027 FY2026 % Explanatory Notes Depreciation and amortisation (49,569) (48,341) (2.5) Higher depreciation from Bearer Plants coming from higher harvest during the period Reversal/ (Provision) for inventory obsolescence (28) (162) 82.7 Lower obsolescence, particularly on Cannery production Reversal/ (Provision) for doubtful debts - (5) 100.0 nm Net gain/(loss) on disposal of fixed assets 12 47 (74.5) nm Foreign exchange gain/(loss)- net (475) (5,520) 91.4 PHP:USD forex did not significantly change in Q1 FY26 compared to last year Interest income 45 151 (70.2) Lower interest on advance rentals Interest expense (16,397) (19,048) 13.9 Mainly driven by lower debt Share in net loss (profit) of JV (76) (1,505) 95.0 There were impairment losses on property of Nice Fruit venture in FY26 Taxation expense (7,962) (4,482) (77.6) Higher taxable income driven by better financial results of DMPI
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 8 of 20 Page 8 of 20 9 September 2026 REVIEW OF GROUP ASSETS AND LIABILITIES Balance Sheet (In US$'000) July 2026 (Unaudited) July 2025 (Unaudited) April 2026 (Unaudited) % Variance vs April 2026 Explanatory Notes ASSETS Property, plant and equipment - net 369,192 362,934 367,841 0.4 nm Right-of-use (ROU) assets 66,640 64,924 61,697 8.0 nm Investment in joint ventures (76) 154 - nm Driven by losses in Nice Fruit joint venture Intangible assets and goodwill 15,506 15,871 15,506 0.0 nm Other noncurrent assets 36,539 93,827 53,044 (31.1) Disposal of shares in Sundrop Deferred tax assets - net 1,461 3,403 2,759 (47.0) Driven by disposal of shares in Sundrop Pension assets 7,508 7,933 7,745 (3.1) nm Biological assets 45,581 47,602 42,629 6.9 Higher additions during the year Inventories 106,372 101,147 93,184 14.2 Mainly driven by increase in inventories in preparation for peak season starting Oct Trade and other receivables 98,595 84,920 86,651 13.8 Timing of collection of receivables from international sales Prepaid expenses and other current assets 9,473 17,060 10,331 (8.3) Writeoff of derivative asset connected with disposal of Sundrop shares Cash and cash equivalents 3,996 8,685 8,054 (50.4) Mainly due to timing of payments EQUITY Share capital 19,449 19,449 19,449 0.0 nm Share premium 208,339 208,339 208,339 0.0 nm Retained earnings (803,729) (824,397) (806,761) 0.4 Profit was offset by reclassification of losses from OCI for the disposal of Sundrop shares Reserves (95,535) (97,522) (103,827) 8.0 Same as Retained earnings above Non-controlling interest 92,935 93,441 92,935 0.0 nm LIABILITIES Loans and borrowings 973,659 1,029,527 985,035 (1.2) Driven by loan repayments during the period Lease liabilities 57,346 59,190 55,017 4.2 nm Employee benefits 89 213 73 21.9 Accrued bonuses Deferred tax liabilities - net 23,009 11,574 17,786 29.4 Higher deferred tax liabilities relating to final tax on share of undistributed profits of DMPI and land revaluation Trade and other current liabilities 206,991 229,275 205,717 0.6 nm Advances from related parties 74,478 74,466 73,827 0.9 nm Current tax liabilities 3,756 4,905 1,851 102.9 Mainly due to timing of payments
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 9 of 20 Page 9 of 20 9 September 2026 SHARE CAPITAL Total outstanding common shares were 1,943,960,024. Share capital was US$19.5 million as of 31 July 2026 and 30 April 2026. The number of shares outstanding excludes 975,802 shares held by the Company as treasury shares as of the same period. There were no sales, disposal, and cancellation of treasury shares during the years then ended. BORROWINGS AND NET DEBT Liquidity in US$'000 July 2026 (Unaudited) July 2025 (Unaudited) April 2026 (Unaudited) Gross borrowings (973,659) (1,029,527) (985,035) Current (577,577) (539,890) (714,339) Secured (91,981) (58,195) (93,698) Unsecured (485,596) (481,695) (620,641) Non-current (396,082) (489,637) (270,696) Secured (197,361) (234,518) (198,532) Unsecured (198,721) (255,119) (72,164) Less: Cash and bank balances 3,996 8,685 8,054 Net Debt (969,663) (1,020,842) (976,981) The Group’s net debt ( borrowings less cash and bank balances) amounted to US$ 969.7 million as at 31 July 2026, slightly lower than the US$977.0 million as at 30 April 2026, primarily due to debt settlements. DIVIDENDS Despite the strong profitability in FY2026 and 1Q FY2027, the Group cannot declare dividends due to its negative equity position. The Group generally declares dividends based on year -end full -year results. No dividends were declared for FY2026 due to its negative equity position, and FY2025 and FY2024 due to a net loss position. The last dividend declaration was in July 2023, based on FY2023 results, and paid on 25 July 2023. INTERESTED PERSON TRANSACTIONS The aggregate value of IPT conducted pursuant to shareholders’ mandate obtained in accordance with Chapter 9 of the Singapore Exchange’s Listing Manual was as follows: In US$’000 Nature of Relationship FY2027 FY2026 FY2027 FY2026 NutriAsia, Inc Affiliate of the Company - - 616 72 Aviemore Ltd. Affiliate of the Company - - 232 226 Bluebell Group Holdings Limited Affiliate of the Company - - - - DMPI Retirement Fund Retirement Fund of Subsidiary's Employees - - 424 542 NutriAsia, Inc Retirement Fund Retirement Fund of Affiliate's Employees - - 169 176 Aggregate Value - - 1,441 1,016 Aggregate value of all IPTs (excluding transactions less than S$100,000 and transactions conducted under shareholders’ mandate pursuant to Rule 920) Aggregate value of all IPTs conducted under shareholders’ mandate pursuant to Rule 920 (excluding transactions less than S$100,000) For the quarter ended 31 July
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 10 of 20 Page 10 of 20 9 September 2026 DEL MONTE PACIFIC LIMITED INCOME STATEMENTS For the quarter ended FY2027 (Unaudited) FY2026 (Unaudited) % Turnover 222,053 203,721 9.0 Cost of sales (147,326) (137,607) (7.1) Gross profit 74,727 66,114 13.0 Distribution and selling expenses (19,170) (19,329) 0.8 General and administration expenses (11,387) (10,977) (3.7) Other operating income/(loss) (3,189) 103 (3,196.1) Profit from operations 40,981 35,911 14.1 Financial income 45 151 (70.2) Financial expense (16,397) (19,048) 13.9 Foreign exchange gain (loss) (475) (5,520) 91.4 Share in net loss of joint venture (76) (1,505) 95.0 Profit before taxation 24,078 9,989 141.0 Taxation (7,962) (4,482) (77.6) Profit after taxation from continuing operations 16,116 5,507 192.6 Profit attributable to: Owners of the Company 16,116 5,507 192.6 Non-controlling interest*** - - n.m. Profit for the period 16,116 5,507 192.6 *Financial income comprise: Interest income 45 151 (70.2) Foreign exchange gain 2 80 (97.5) 47 231 (79.7) **Financial expense comprise: Interest expense (16,397) (19,048) 13.9 Foreign exchange loss (477) (5,600) 91.5 (16,874) (24,648) 31.5 Amounts in US$’000 31 July nm – not meaningful FY2027 FY2026 Earnings per ordinary share based on net profit attributable to shareholders: (i) Based on weighted average no. of ordinary shares 0.83 0.28 (ii) On a fully diluted basis 0.83 0.28 Earnings per ordinary share in US cents For the quarter ended 31 July
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 11 of 20 Page 11 of 20 9 September 2026 DEL MONTE PACIFIC LIMITED STATEMENTS OF COMPREHENSIVE INCOME Amounts in US$’000 For the quarter ended 31 July FY2027 (Unaudited) FY2026 (Unaudited) % Profit for the period - continuing operations 16,116 5,507 192.6 Other comprehensive income (after reclassification adjustment): Items that will or may be reclassified subsequently to profit or loss Exchange differences on translating of foreign operations (486) 191 (354.5) (486) 191 (354.5) Items that will not be classified to profit or loss Net gain/(loss) on equity instruments designated at fair value through other comprehensive income (FVOCI) (5,216) 636 nm Tax impact on FVOCI investments 801 (95) nm Remeasurement of retirement benefit 75 (11) 781.8 Income tax expense on retirement benefit (19) 2 (1,050.0) (4,359) 532 (919.4) Other comprehensive income/(loss) for the period - continuing operations (4,845) 723 (770.1) Total comprehensive income for the period 11,271 6,230 80.9 Attributable to: Owners of the Company 14,419 6,230 131.4 Non-controlling interests - - #DIV/0! Total comprehensive income for the period 14,419 6,230 131.4
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 12 of 20 Page 12 of 20 9 September 2026 DEL MONTE PACIFIC LIMITED STATEMENTS OF FINANCIAL POSITION July 2026 (Unaudited) July 2025 (Unaudited) April 2026 (Unaudited) July 2026 (Unaudited) July 2025 (Unaudited) April 2026 (Unaudited) Non-Current Assets Property, plant and equipment - net 369,192 362,934 367,841 - - - Right-of-use (ROU) assets 66,640 64,924 61,697 - - Investment in subsidiaries - - - 88,900 73,209 66,984 Investment in joint ventures (76) 154 - (57) 155 - Intangible assets and goodwill 15,506 15,871 15,506 - - - Other noncurrent assets 36,539 93,827 53,044 290 11,858 251 Deferred tax assets - net 1,461 3,403 2,759 110 110 110 Pension assets 7,508 7,933 7,745 - - - Biological assets 1,916 2,181 1,985 - - - 498,686 551,227 510,577 89,243 85,332 67,345 Current Assets Inventories 106,372 101,147 93,184 - - - Biological assets 43,665 45,421 40,644 - - - Trade and other receivables 98,595 84,920 86,651 13,331 11,652 10,245 Prepaid expenses and other current assets 9,473 17,060 10,331 222 52 113 Cash and cash equivalents 3,996 8,685 8,054 114 588 1,997 262,101 257,233 238,864 13,667 12,292 12,355 Assets held for disposal - - - - - - 262,101 257,233 238,864 13,667 12,292 12,355 Total Assets 760,787 808,460 749,441 102,910 97,624 79,700 - - - - (0) - Equity attributable to equity holders of the Company Share capital 19,449 19,449 19,449 19,449 19,449 19,449 Share premium 208,339 208,339 208,339 208,478 208,478 208,478 Retained earnings (803,729) (824,397) (806,761) (768,438) (804,168) (771,470) Reserves (95,535) (97,522) (103,827) (95,535) (97,522) (103,827) Equity attributable to owners of the Company (671,476) (694,131) (682,800) (636,046) (673,763) (647,370) Non-controlling interest 92,935 93,441 92,935 - - - Total Equity (578,541) (600,690) (589,865) (636,046) (673,763) (647,370) Non-Current Liabilities Loans and borrowings 396,082 489,637 270,696 224,873 341,917 236,691 Lease liabilities 48,330 50,049 25,043 - - - Other noncurrent liabilities - - - - - - Employee benefits 89 213 73 89 172 73 Deferred tax liabilities - net 23,009 11,574 17,786 - - - 467,510 551,473 313,598 224,962 342,089 236,764 Current Liabilities Trade and other current liabilities 206,991 229,275 205,717 311,564 338,586 296,843 Advances from related parties 74,478 74,466 73,827 - - - Loans and borrowings 577,577 539,890 714,339 202,430 90,595 193,463 Lease liabilities 9,016 9,141 29,974 - - - Current tax liabilities 3,756 4,905 1,851 - 117 - 871,818 857,677 1,025,708 513,994 429,298 490,306 Liabilities directly associated with the assets held for disposal - - - - - 871,818 857,677 1,025,708 513,994 429,298 490,306 Total Liabilities 1,339,328 1,409,150 1,339,306 738,956 771,387 727,070 Total Equity and Liabilities 760,787 808,460 749,441 102,910 97,624 79,700 - - - - 0 - NAV per ordinary share (US cents) (34.54) (35.71) (35.12) (32.72) (34.66) (33.30) NTAV per ordinary share (US cents) (35.34) (36.52) (35.92) (32.72) (34.66) (33.30) Amounts in US$’000 CompanyGroup
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 13 of 20 9 September 2026 DEL MONTE PACIFIC LIMITED STATEMENTS OF CHANGES IN EQUITY Amounts in US$’000 Share capital Share premium Translation reserve Revaluation reserve Remeasure- ment of retirement plan Hedging Reserve Net Unrealized gain (loss) on FVOCI investment Reserve for own shares Reserve of disposal group held for sale Retained earnings Totals Non- controlling interest Total equity Group Fiscal Year 2027 At 1 May 2026 19,449 208,339 (110,399) 29,591 6,080 - (28,813) (286) - (806,761) (682,800) 92,935 (589,865) Total comprehensive income for the period Profits for the period 16,117 16,117 - 16,117 Other comprehensive income Currency translation differences recognized directly in equity - - (486) - - - - - - - (486) (486) Gain on property revaluation, net of tax - - - - - Net loss on remeasurement of FVOCI investment (1,268) - (1,268) (1,268) Remeasurement of retirement plan, net of tax - - - - 56 - - - - - 56 - 56 Total other comprehensive income/(loss) - - (486) - 56 - (1,268) - - - (1,698) - (1,698) Total comprehensive (loss)/income for the period - - (486) - 56 - (1,268) - - 16,117 14,419 - 14,419 Reclassification of remeasurement loss of FVOCI investment 9,990 (9,990) - - Transactions with owners recorded directly in equity Contributions by and distributions to owners Payment of Dividends - - - - - - - - (3,095) (3,095) - (3,095) Total contributions by and distributions to owners - - - - - - - - (3,095) (3,095) - (3,095) At 31 July 2026 19,449 208,339 (110,885) 29,591 6,136 - (20,091) (286) - (803,729) (671,476) 92,935 (578,541)
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 14 of 20 9 September 2026 DEL MONTE PACIFIC LIMITED STATEMENTS OF CHANGES IN EQUITY (CONTINUED) Amounts in US$’000 Share capital Share premium Translation reserve Revaluation reserve Remeasure- ment of retirement plan Hedging Reserve Net Unrealized gain (loss) on FVOCI investment Reserve for own shares Reserve of disposal group held for sale Retained earnings Totals Non- controlling interest Total equity Group Fiscal Year 2026 At 1 May 2025 19,449 208,339 (111,145) 22,799 5,257 - (14,870) (286) 61,221 (888,030) (697,266) 76,210 (621,056) Total comprehensive income for the period Profits for the period - - - - - - - - 5,507 5,507 - 5,507 Other comprehensive income Currency translation differences recognized directly in equity - - 191 - - - - - - 191 - 191 Net loss on remeasurement of FVOCI investment - - - - - - 541 - - 541 - 541 Remeasurement of retirement plan, net of tax - - - - (9) - - - - (9) - (9) Total other comprehensive income/(loss) - - 191 - (9) - 541 - - 723 - 723 Total comprehensive (loss)/income for the period - - 191 - (9) - 541 - 5,507 6,230 - 6,230 Deconsolidation of U.S. operaions - - - - (61,221) 61,221 - 17,231 17,231 Transactions with owners recorded directly in equity Contributions by and distributions to owners Payment of Dividends - - - - - - - - (3,095) (3,095) - (3,095) Total contributions by and distributions to owners - - - - - - - - (3,095) (3,095) - (3,095) At 31 July 2025 19,449 208,339 (110,954) 22,799 5,248 - (14,329) (286) (824,397) (694,131) 93,441 (600,690)
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 15 of 20 9 September 2026 DEL MONTE PACIFIC LIMITED STATEMENTS OF CHANGES IN EQUITY (CONTINUED) Amounts in US$’000 Share capital Share premium Translation reserve Revaluation reserve Remeasure- ment of retirement plan Hedging Reserve Net Unrealized gain (loss) on FVOCI investment Reserve of disposal group held for sale Reserve for own shares Retained earnings Total equity Company Fiscal Year 2027 At 1 May 2026 19,449 208,478 (110,399) 29,591 6,080 - (28,813) - (286) (771,470) (647,370) Total comprehensive income for the period Profits for the period 13,022 13,022 Other comprehensive income Currency translation differences recognized directly in equity - - (486) - - - - - - - (486) - - - - - - - - - - - Net loss on remeasurement of FVOCI investment - - - - - - (1,268) - - - (1,268) Remeasurement of retirement plan, net of tax - - - - 56 - - - - - 56 Total other comprehensive income/(loss) - - (486) - 56 - (1,268) - - (1,698) Total comprehensive (loss)/income for the period - - (486) - 56 - (1,268) - 13,022 11,324 Reclassification of FVOCI 9,990 - - (9,990) - Transactions with owners recorded directly in equity Contributions by and distributions to owners Payment of Dividends - - - - - - - - - - Total contributions by and distributions to owners - - - - - - - - - - At 31 July 2026 19,449 208,478 (110,885) 29,591 6,136 - (20,091) - (286) (768,438) (636,046)
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 16 of 20 9 September 2026 DEL MONTE PACIFIC LIMITED STATEMENTS OF CHANGES IN EQUITY (CONTINUED) Amounts in US$’000 Share capital Share premium Translation reserve Revaluation reserve Remeasure- ment of retirement plan Hedging Reserve Net Unrealized gain (loss) on FVOCI investment Reserve of disposal group held for sale Reserve for own shares Retained earnings Total equity Company Fiscal Year 2026 At 1 May 2025 19,449 208,478 (111,145) 22,799 5,257 - (14,870) 61,221 (286) (867,801) (676,898) Total comprehensive income for the period - Profits for the period - 2,412 2,412 Other comprehensive income Currency translation differences recognized directly in equity - - 191 - - - - - - 191 Net loss on remeasurement of FVOCI investment - - - - - - 541 - - 541 Remeasurement of retirement plan, net of tax - - - - (9) - - - - (9) Effective portion of changes in fair value of cash flow hedges, net of tax - - - - - - - - - Total other comprehensive income/(loss) - - 191 - (9) - 541 - - - 723 Total comprehensive (loss)/income for the period - - 191 - (9) - 541 - - 2,412 3,135 Discontinued operation (61,221) 61,221 - Transactions with owners recorded directly in equity Contributions by and distributions to owners Payment of Dividends - - - - - - - - - - Total contributions by and distributions to owners - - - - - - - - - - At 31 July 2025 19,449 208,478 (110,954) 22,799 5,248 - (14,329) - (286) (804,168) (673,763) 19,449 208,478 (110,954) 22,799 5,248 - (14,329) (286) (804,168) (670,668)
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 17 of 20 9 September 2026 DEL MONTE PACIFIC LIMITED STATEMENTS OF CASH FLOWS For the quarter ended 31 July FY2027 (Unaudited) FY2026 (Unaudited) Cash flows from operating activities Profit for the period - continuing operations 16,116 5,507 Adjustments: Depreciation of property, plant and equipment 46,000 44,480 Amortization of right-of-use assets 3,569 3,861 Gain on disposal of property, plant and equipment (12) (47) Allowance for Inventory obsolescence 28 162 Impairment (reversal) of trade and nontrade receivables - 5 Share in net (profit) loss of joint venture 76 1,505 Finance income (45) (151) Finance expense 16,397 19,048 Tax expense - current 2,814 3,102 Tax expense (deferred) 5,148 1,380 Unrealised foreign exchange (loss) gain (1,795) 7,204 Operating profit before working capital changes 88,296 86,056 Changes in: Other assets (475) (4,304) Inventories (12,893) (15,347) Biological assets (2,818) 1,126 Trade and other receivables (13,539) 5,282 Prepaid and other current assets (685) (6,458) Trade and other payables (622) 10,319 Employee Benefit 310 142 Operating cash flow 57,574 76,816 Income taxes paid - - Net cash flows provided by operating activities 57,574 76,816 Purchase of property, plant and equipment (47,098) (43,449) Free cash flows 10,476 33,367 Cash flows from other investing activities Interest received 22 124 Proceeds from disposal of property, plant and equipment 19 51 Proceeds from sale of shares in India 13,272 - Net cash flows used in other investing activities 13,313 175 Cash flows from financing activities Interest paid (16,509) (16,384) Proceeds from borrowings 77,817 69,332 Repayment of borrowings (87,893) (73,213) Payments of lease liability (3,340) (3,501) Dividends paid NCI (3,095) (3,095) Net cash flows provided by (used in) financing activities (33,020) (26,861) Net increase (decrease) in cash and cash equivalents (9,231) 6,681 Cash and cash equivalents, beginning 8,054 11,126 Effect of exchange rate fluctuations on cash held in foreign currency 5,173 (9,122) Cash and cash equivalents at end of period 3,996 8,685 Amounts in US$’000
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 18 of 20 9 September 2026 PROFIT AND LOSS SUMMARY OF MAJOR SUBSIDIARY DEL MONTE PHILIPPINES, INC. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS FY2027 (Unaudited) FY2026 (Unaudited) % FY2027 (Unaudited) FY2026 (Unaudited) % Turnover 13,644,797 11,011,125 23.9 222,083 196,662 12.9 Cost of sales (9,058,006) (7,564,923) (19.7) (147,428) (135,112) (9.1) Gross profit 4,586,791 3,446,202 33.1 74,655 61,550 21.3 Distribution and selling expenses (1,177,336) (1,052,507) (11.9) (19,162) (18,798) (1.9) General and administration expenses (414,416) (322,201) (28.6) (6,745) (5,755) (17.2) Other operating loss (236,775) (41,922) (464.8) (3,854) (749) (414.6) Profit from operations 2,758,264 2,029,572 35.9 44,894 36,248 23.9 Interest income 125,565 225,563 (44.3) 2,044 4,029 (49.3) Interest expense (483,645) (517,057) 6.5 (7,872) (9,235) 14.8 Forex exchange gain (18,164) (311,545) 94.2 (296) (5,564) 94.7 Share in net loss of joint venture - - nm - - nm Profit before taxation 2,382,020 1,426,533 67.0 38,770 25,478 52.2 Taxation (213,333) (96,200) (121.8) (3,472) (1,718) (102.1) Profit after taxation 2,168,687 1,330,333 63.0 35,298 23,760 48.6 For the quarter ended 31 July In PHP'000 In US$'000 Forex translation used: 61.44 in July 2026 and 55.99 in July 2025.
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 19 of 20 9 September 2026 DEL MONTE PHILIPPINES, INC. AND SUBSIDIARIES OPERATING SEGMENT BY PRODUCT FY27 FY26 % Chg FY27 FY26 % Chg Revenues Convenience Cooking and Desert 3,013,818 2,915,612 3.4 49,053 52,074 (5.8) Healthy Beverages and Snacks 2,064,389 2,054,163 0.5 33,600 36,688 (8.4) Premium Fresh Fruit 4,357,997 3,302,562 32.0 70,931 58,985 20.3 Packaged fruit and Beverages - Export 2,792,048 1,710,633 63.2 45,443 30,552 48.7 Others 102,601 32,458 216.1 1,670 580 187.9 Changes in fair value – IAS 41 1,313,944 995,697 32.0 21,386 17,783 20.3 Total 13,644,797 11,011,125 23.9 222,083 196,662 12.9 Gross income Convenience Cooking and Desert 1,123,158 1,050,115 7.0 18,281 18,755 (2.5) Healthy Beverages and Snacks 665,671 653,446 1.9 10,834 11,671 (7.2) Premium Fresh Fruit 1,948,992 1,397,718 39.4 31,722 24,964 27.1 Packaged fruit and Beverages - Export 825,369 301,687 173.6 13,434 5,388 149.3 Others 21,453 13,832 55.1 349 247 41.3 Changes in fair value – IAS 41 2,148 29,404 (92.7) 35 525 (93.3) Total 4,586,791 3,446,202 33.1 74,655 61,550 21.3 31.3% 33.6% 31.3% Earnings before interest and tax Convenience Cooking and Desert 590,933 440,677 34.1 9,618 7,871 22.2 Healthy Beverages and Snacks 202,746 186,113 8.9 3,300 3,324 (0.7) Premium Fresh Fruit 1,399,389 933,223 50.0 22,777 16,668 36.7 Packaged fruit and Beverages - Export 536,039 123,074 335.5 8,725 2,198 297.0 Others 8,845 5,536 59.8 144 98 46.9 Changes in fair value – IAS 41 2,148 29,404 (92.7) 34 525 (93.5) Total 2,740,100 1,718,027 59.5 44,598 30,684 45.3 1,122,989 354,064 For the quarter ended 31 July (In PHP'000) (In US$'000) Forex translation used: 61.44 in July 2026 and 55.99 in July 2025.
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Del Monte Pacific Limited Results for the First Quarter Ended 31 July 2026 Page 20 of 20 9 September 2026 DMPI’s Product Segments Convenience Cooking and Dessert This segment includes sales of packaged tomato -based and non -tomato-based products, such as tomato sauce and paste, spaghetti sauce, ketchup, pasta sauce, re cipe sauce, pizza sauce, pasta, and condiments, sold under the Del Monte brand and soy sauces under the Kikkoman brand as part of an exclusive distributorship arrangement for the Philippines. This category also includes packaged pineapple and tropical mixed fruit products sold within the Philippines under the Del Monte, Fiesta and Today’s brands. Healthy Beverages and Snacks Healthy beverages which are sold in the Philippines under the Del Monte brand include ready-to-drink juices, fruit and vegetable juice drinks, and pineapple juice concentrate in various packaging formats, including Tetra Pak and PET. DMPI’s hallmark product in the beverage segment is 100% Pineapple Juice , including derivations thereof, such as 100% Pineapple Juice that is enriched with additional vitamins or fibre or that is specifically developed to help manage cholesterol. In addition, the beverage segment covers juice drinks made from other fruits, vegetables, herbs and botanicals, such as Tipco juice, and DMPI’s Fit ’n Right products, which are drinks fortified with green coffee extract and L-carnitine to assist in fat metabolism. DMPI also sells Del Monte Fruity Zing, a competitively priced juice, uniquely positioned as an on -the-go dual flavour refreshment for the Gen Z’s. Packaged Fruits and Beverages – Export This segment includes packaged fruit and beverages products sold internationally. Packaged Fruit Packaged fruit includes sales of fruit products that are packaged in different formats such as can, plastic cup, pouch and aseptic bag, and which are sold under the S&W brand and the Del Monte brand for parties who have the license rights to Del Monte in other markets, a s well as under the private labels of non -affiliated parties. A portion of MD2 pineapples that are not exported as fresh fruit are used to produce Nice Fruit frozen pineapple products and not-from-concentrate (NFC) juices. Beverages Beverages include sales of 100% Pineapple Juice and juice dri nks in various flavo urs in can and Tetra Pak packaging and pineapple juice concentrate. In addition, this segment also covers NFC juices. N FC juice is prepared solely from the juice of whole pineapple at DMPI’s N FC juicing plant and contains no additional ingredients. DMPI produces 100% MD2 NFC pineapple juice for export to certain countries within Asia for industrial use, and for resale to consumers under buyer’s own labels. Premium Fresh Fruit Premium Fresh Fruit category includes sales of S&W-branded premium fresh pineapples in Asia Pacific and private label or non -branded MD2 and C74 fresh pineapples in Asia. DMPI’s key product in the Premium Fresh Fruit segment is the MD2 pineapple variant, which is the main export product and sold under the “S&W Deluxe” and “S&W Sweet 16” brands. Others The cattle operation helps in the disposal of pineapple pulp, a residue of pineapple processing which is fed to the animals. This also includes culinary products sold internationally.