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February 18, 2026 0 Fresh Del Monte Produce Inc. Q4 and FY 2025 Earnings Presentation
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Mohammad Abu-Ghazaleh Chairman & CEO Monica Vicente Chief Financial Officer 1 Meet Our Speakers
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2 Forward-Looking Statement This presentation and the related earnings call contain certain forward-looking statements regarding the intent, beliefs or current expectations of the Company. These statements include statements that are preceded by, followed by or include the words “believes”, “expects”, “anticipates”, “may” or similar expressions with respect to various matters. Specifically, this presentation and the earnings call contain forward-looking statements regarding the Company’s plans and expectations for future performance, including: the expected benefits of the divestiture of Mann Packing; the timing and receipt of clearance pursuant to Hart-Scott-Rodino (“HSR”) and our ability to meet customary closing conditions for the acquisition of Del Monte Foods and expected benefits of such acquisition; focus on high-margin products that align with market demands and the Company’s business model; ability to solidify its position as a global leader of pineapples, including with respect to its pineapple varieties and related innovations; five-year growth strategy, as well as the Company’s strategy to build its fresh-cut program into a key profit center; ability to expand and diversify global sourcing through various partnerships; expectations regarding the banana segment, as well as the Company’s ability to penetrate the market; expectations regarding its ability as well as its timing to achieve compliance with FSMA 204; ongoing commitment to maximize the full utilization of its biomass, as well as the intended use and timing of such biofertilizers and the impact on the Company’s sustainability efforts; the impact of any potential international business on the business, as well as the Company’s ability to mitigate potential disruptions; ability to streamline operations and the impact that may have on its profitability and future growth; ability to generate value for shareholders; future weather-related events on the Company’s business, and its ability to recover insurance proceeds, if any, to cover any damage or expenses; expectations for the tax rate; expected SG&A expenses, debt management, capital expenditures and cash flow and expected segment results for 2026. It is important to note that these forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties and assumptions that may cause the Company’s actual plans and performance to differ materially from those in the forward-looking statements as a result of various factors, including: (i) with respect to statements regarding the timing and expected completion of, and the expected benefits of, the acquisition of Del Monte Foods, these risks include the inability to receive HSR clearance, third party consents, approvals, parties’ ability and willingness to fulfill customary closing conditions and other factors that may impact Del Monte Foods’ future results as well as which were not discovered during the diligence process or over which the Company had no control, (ii) ongoing elevated commodity and supply chain costs, (iii) the cost and other implications of changes in regulations applicable to the Company’s business, including potential domestic and international legislative or regulatory initiatives; (iv) ability to successfully execute on its strategic growth plans, including streamlining our portfolio pursuant to the Mann Packing divestiture and the use of biofertilizers and other technology, (v) the impact of foreign currency fluctuations, (vi) the impact of asset impairment or other charges, including those associated with exit activities, crop or facility damage or otherwise, (vii) the impact of any disruptions in the Company's supply chain, (viii) trends and other factors affecting consumer preferences, including customers’ reception of new product offerings and innovation, (ix) the impact of severe weather conditions and natural disasters, such as flooding, hurricanes, earthquakes, (x) competitive pressures and ability to realize the full benefits of the inflation driven price increases implemented, (xi) the impact of claims and adjustments proposed by the IRS or other foreign taxing authorities in connection with any tax audits and the Company’s ability to successfully contest such tax claims and pursue necessary remedies, (xii) damage to the Company’s reputation or brand names or negative publicity about the Company’s products, (xiii) the Company’s ability to successfully manage the risks associated with international operations and (iv) the adequacy of insurance coverage. In addition, these forward-looking statements and the information in this presentation and the earnings call are qualified in their entirety by cautionary statements and risk factor disclosures contained in the Company’s Securities and Exchange Commission filings, including the Company’s most recently filed Annual Report on Form 10-K. All forward-looking statements in this presentation are based on information available to us on the date hereof, and we assume no obligation to update such statements.
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Agenda • CEO Comments • Q4 & Full Year Financial Performance • 2026 Outlook • Q&A 3
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• FY25 represented a strategic inflection point, with a sharpened focus on core strengths and disciplined execution • Portfolio rationalization and financial discipline strengthened the balance sheet, expanded margins, and improved cash generation • Court approval received for acquisition of the global Del Monte® brand and select assets, with closing expected by the end of the first quarter, subject to conditions • Strategic alignment reinforces long-term value creation, reuniting fresh and shelf-stable food under a single global platform • Planned light-touch integration model, prioritizing business continuity while leveraging Fresh Del Monte’s scale and capabilities CEO Business Highlights 4
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5 Financial Results Q4 & FY 2024 Financial Results Q4 & FY 2025
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Q4 2025 Financial Results • Higher net sales in other products and services and banana business segments. • Lower sales volume in the fresh-cut vegetable product line. • Higher per-unit selling prices. • Higher overall per-unit distribution costs and increased production and procurement costs in our banana segment. • Gross margin: 10.4%. • Adjusted gross margin*: 11.3%. $48M $0.70 Adj. Operating Income* Adj. FDP Net Income* Adj. Diluted EPS* Adj. EBITDA* 6 Net Sales $1.02B Gross Profit $106M $33M $67M Adj. Net Sales* $968M Adj. Gross Profit* $109M *Financial Results, including adjusted results, exclude the impact of the divestiture of Mann Packing and an accounting adjustment identified during the fourth quarter of 2025. Reconciliations and other information required by Regulation G can be found in the Appendix section of the presentation.
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FY 2025 Financial Results • Higher net sales across all business segments. • Higher per-unit selling prices in the fresh and value-added and banana business segments. • Lower sales volume in the fresh-cut vegetable product line. • Higher net sales in the fresh and value-added products segment. • Gross margin: 9.2%. • Adjusted gross margin*: 10.4%. $222M $3.68 Adj. Operating Income* Adj. FDP Net Income* Adj. Diluted EPS* Adj. EBITDA* 7 Net Sales $4.32B Gross Profit $399M $178M $300M Adj. Net Sales* $4.10B Adj. Gross Profit* $427M *Financial Results, including adjusted results, exclude the impact of the divestiture of Mann Packing. Reconciliations and other information required by Regulation G can be found in the Appendix section of the presentation.
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Fresh and Value-Added Products Net Sales: $2.62B • Higher per-unit selling prices in the pineapple product line. • Higher per-unit selling prices and sales volume in the fresh-cut fruit product line. • Lower net sales in the fresh and fresh-cut vegetable product lines. 8 Adjusted Net Sales*: $2.40B vs. $2.31B Adjusted Gross Profit*: $328M vs. $262M Adjusted Gross Margin*: 13.7% Gross Profit: $299M / Gross Margin: 11.4% Net Sales: Gross Profit: • Higher per-unit selling prices in the pineapple product line. • Higher distribution costs. *Financial Results, including adjusted results, exclude the impact of the divestiture of Mann Packing. Reconciliations and other information required by Regulation G can be found in the Appendix section of the presentation.
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9 Banana Net Sales: Gross Profit: Net Sales: $1.49B • Higher per-unit selling prices in North America and Europe. • Improved sales volume in the Middle East. • Lower sales volume in Asia. Adjusted Gross Profit*: $70M vs $87M Adjusted Gross Margin*: 4.7% • Higher per-unit production and procurement costs, and higher distribution costs. • Also impacted by an allowance recorded on a receivable from an independent grower. Gross Profit: $71M / Gross Margin: 4.8% *Financial Results, including adjusted results, exclude the impact of the divestiture of Mann Packing. Reconciliations and other information required by Regulation G can be found in the Appendix section of the presentation.
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Net Sales: $210M 10 Other Products & Services • Higher net sales in the third-party freight business and specialty ingredients business. • Lower net sales in the poultry and meats business. Gross Profit: $29M / Gross Profit Margin: 13.7% • Driven by higher net sales. Net Sales: Gross Profit:
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` 11 Selected Financial Data
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FY 2025 Selected Financial Results *Non-GAAP financial measure. Reconciliations and other information required by Regulation G can be found in the Appendix section of the presentation. 12 $245M 0.44x Long-Term Debt Adj. Leverage Ratio* $173M $64M 865,773 shares / $30M Dividend Share Repurchase Program Declared $0.30/share Net Cash Provided by Operating Activities Capital Spending
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13 Financial Outlook For 2026
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14 Key Challenges and Financial Outlook Q&A
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15 Appendix Non-GAAP Reconciliations
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Fresh Del Monte Produce Inc. and Subsidiaries Reconciliations of Non-GAAP Financial Measures The Company's results are determined in accordance with U.S. generally accepted accounting principles (GAAP). Certain information presented reflects adjustments to GAAP measures that are referred to in this presentation as “non-GAAP measures.” Management believes these non-GAAP measures provide a more comparable analysis of the underlying operating performance of the business. These non-GAAP measures include the following: Adjusted gross profit, Adjusted gross margin, Adjusted operating income, Adjusted FDP net income, Adjusted diluted EPS, EBITDA, Adjusted EBITDA, EBITDA margin, Adjusted EBITDA margin and Adjusted Leverage Ratio. Adjusted gross profit, Adjusted gross margin, Adjusted operating income, Adjusted FDP net income and Adjusted diluted EPS each reflect adjustments relating to asset impairment and other charges, net, gain on disposal of property, plant and equipment, net, and other product-related (credits) charges. EBITDA is defined as net income attributable to Fresh Del Monte Produce Inc. excluding interest expense, net, provision for income taxes, depreciation and amortization, and share-based compensation expense. Adjusted EBITDA represents EBITDA with additional adjustments for asset impairment and other charges, net, gain on disposal of property, plant and equipment, net and subsidiary, and other product-related charges. EBITDA margin represents EBITDA as a percentage of net sales, and Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of net sales. Adjusted Leverage Ratio represents net debt (total short-term and long-term debt outstanding, including current portion of long-term debt and finance leases and letters of credit, less cash and cash equivalents) divided by Adjusted EBITDA for the trailing twelve-month period. These non-GAAP measures provide the Company with an understanding of the results from the primary operations of its business. The Company uses these metrics because management believes they provide more comparable measures to evaluate period-over-period operating performance since they exclude special items that are not indicative of the Company's core business or operations. These measures may be useful to an investor in evaluating the underlying operating performance of the Company's business because these measures: 1. Are used by investors to measure a company's comparable operating performance; 2. Are financial measurements that are used by lenders and other parties to evaluate creditworthiness; and 3. Are used by the Company's management for various purposes, including as measures of performance of its operating entities, as a basis of strategic planning and forecasting, and in certain cases as a basis for incentive compensation. Because all companies do not use identical calculations, the Company's presentation of these non-GAAP financial measures may not be comparable to similarly titled measures used by other companies. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are provided in the financial tables herein. 16 Full Year 2025
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Fresh Del Monte Produce Inc. and Subsidiaries Reconciliations of Non-GAAP Financial Measures 17
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Fresh Del Monte Produce Inc. and Subsidiaries Reconciliations of Non-GAAP Financial Measures 18
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Fresh Del Monte Produce Inc. and Subsidiaries Reconciliations of Non-GAAP Financial Measures 19
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Fresh Del Monte Produce Inc. and Subsidiaries Reconciliations of Non-GAAP Financial Measures 20
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Fresh Del Monte Produce Inc. and Subsidiaries Reconciliations of Non-GAAP Financial Measures 21
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Fresh Del Monte Produce Inc. and Subsidiaries Reconciliations of Non-GAAP Financial Measures 22
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Fresh Del Monte Produce Inc. and Subsidiaries Reconciliations of Non-GAAP Financial Measures
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Fresh Del Monte Produce Inc. and Subsidiaries Reconciliations of Non-GAAP Financial Measures
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Fresh Del Monte Produce Inc. and Subsidiaries Reconciliations of Non-GAAP Financial Measures