Page 1

Ingredion Be what's next .. Ingredion Incorporated 5 Westbrook Corporate Center Westchester , IL 60154 NEWS RELEASE CONTACTS : Investors : Jason Payant , 708-551-2584 Media : Becca Hary , 708-551-2602 . • INGREDION INCORPORATED REPORTS THIRD QUARTER 2021 RESULTS AND RAISES Full Year Adjusted Earnings ExpectATION Third quarter 2021 reported and adjusted EPS * were $ 1.75 and $ 1.67 , respectively , compared to third quarter 2020 reported and adjusted EPS of $ 1.36 and $ 1.77 , respectively . The Company expects full year 2021 adjusted EPS to be in the range of $ 6.65- $ 7.00 , up from the previously provided full year outlook of $ 6.45- $ 6.85 . WESTCHESTER , III . , November 2 , 2021 - Ingredion Incorporated ( NYSE : INGR ) , a leading global provider of ingredient solutions to the food and beverage manufacturing industry , today reported results for the third quarter of 2021. The results , reported in accordance with U.S. generally accepted accounting principles ( " GAAP " ) for 2021 and 2020 , include items that are excluded from the non - GAAP financial measures that the Company presents . " We delivered outstanding top - line performance of 17 % net sales growth in the quarter resulting from well managed sales execution to fulfill strong customer demand . Every region achieved double - digit sales growth through a clear focus on managing price mix and partnering with customers to meet changing demand requirements as a result of global supply chain constraints . At the same time , we kept pace with higher input costs to deliver reported operating income up 12 % and adjusted operating income down 9 % , against previously anticipated high double - digit corn cost inflation , " said Jim Zallie , Ingredion's president and chief executive officer . " Once again , our specialty ingredients growth platforms achieved double - digit increases in net sales , which outpaced the remainder of our portfolio . During the quarter , we generated the largest specialty sales growth from our sugar reduction and specialty sweeteners platform , driven by customer wins from PureCircle and strong demand recovery globally . In addition , consumers ' heightened focus on nutrition and wellness is underpinning the robust demand we are seeing for our clean & simple , texture and plant - based protein solutions , ” continued Zallie . " More broadly , we continue to execute on our Driving Growth Roadmap to strategically shape our portfolio for the future . During the quarter , we completed the contribution of our Argentina business to the Arcor joint venture , reducing our exposure to currency volatility and high fructose corn syrup , ” added Zallie . " Our teams are actively addressing the difficult challenges brought on by global supply chain constraints and rising inflation , to continue to serve