Slides
Page 1
Q4 & FY 2025 RESULTS February 3, 2026
Page 2
FORWARD-LOOKING STATEMENTS This presentation and accompanying prepared remarks contain forward-looking statements. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws. Words, and variations of words, such as “will,” “may,” “expect,” “would,” “could,” “might,” “intend,” “plan,” “believe,” “likely,” “estimate,” “anticipate,” “objective,” “predict,” “project,” “drive,” “seek,” “aim,” “target,” “remain,” “potential,” “commitment,” “outlook,” “continue,” “goal” or any other similar words are intended to identify our forward-looking statements. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results or outcomes could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from those indicated in these forward-looking statements. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this presentation and accompanying prepared remarks except as required by applicable law or regulation. In addition, historical, current and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. For important information on forward-looking statements, please see our earnings release for Q4 2025 on our investor website at https://www.mondelezinternational.com/investors. NON-GAAP FINANCIAL MEASURES All results shared with this presentation and accompanying prepared remarks are non-GAAP unless noted as “reported”, in which case we are referring to our results on a GAAP basis. Please see GAAP to non-GAAP reconciliations at the end of this presentation for comparable GAAP measures. Refer to the definitions of these measures in our earnings release for Q4 2025 located at https://www.mondelezinternational.com/investors in addition to the appendix on slide 24 of this presentation. 2
Page 3
2 3 Financial Results 2026 Outlook 1 Business & Strategy Update AGENDA 3
Page 4
1. Accelerating Q4 top-line growth +5.1% driven by cocoa-led pricing execution, partially offset by volume/mix decline 2. Q4 EPS at $0.72, +4.6% at cst fx, due to strong cost discipline and lapping high cocoa costs 3. Strong FY free cash flow delivery, $3.2B, despite navigating unprecedented cocoa costs volatility 4. $4.9B capital deployed back for the year, via dividends and share repurchases 5. Focused on improving performance in Developed Markets while maintaining strong performance in Emerging Markets 4 SOLID Q4 2025 RESULTS DESPITE CHALLENGING BACKDROP, CONFIDENT IN OUR LONG-TERM GROWTH PROSPECTS
Page 5
STRONG Q4 REVENUE GROWTH WITH IMPROVING PROFITABILITY +5.1% Organic Net Revenue Growth +22.1% Adjusted OI Growth1 +4.6% Adjusted EPS Growth1 Vol/Mix -4.8pp Price +9.9pp Q4 2025 Free Cash Flow 1 at cst fx5 +4.3% -14.6%-15.5% Vol/Mix -3.7pp Price +8.0pp FY 2025 $3.2B
Page 6
DETERMINED TO IMPROVE DEVELOPED MARKETS PERFORMANCE 6 • US Consumer confidence weak, expect it to remain similar for 2026 • Snacking growth will continue shifts, driven by mix of Club & Value, BFY/protein, premium indulgence and low-price points • Biscuits category remains soft, with 2026 tracking to similar trend North AmericaEurope Consumer and Category Action to improve Growth • Increased A&C investments to drive awareness, penetration, frequency and buy rate • Addressing affordability via PPA • Continue expansion in under-indexed channels • Expand and scale offerings in growth areas like premium indulgence, BFY/protein and on-the-go • Consumer confidence fragile, expect it to remain similar for 2026 • Snacking growth projected to be steady, led by eCom, convenience, discount, affordability & function • Chocolate volumes expected to stabilize post-2025 pricing wave; Biscuits more resilient; Biscuits & Chocolate penetration remains high • Offering strong consumer value via PPA with right price points • Boost A&C investments behind our brands • Expand range across chocolate segments and choco-bakery • Grow presence in premium Chocolate and under- indexed channels
Page 7
Strong penetration: Oreo US1: ~50%; Cadbury UK1: ~85% PROGRESSING AGAINST OUR STRATEGIC GROWTH AGENDA 7 Added ~300k directly served stores in Emerging Markets in 2025 Recognized as a leader in multiple industry rankingsAward-winning World Travel Retail channel grew MSD in 2025 Robust Brand Equity Expand Distribution Grow Channels Highly Engaged Culture 1 US Nielsen IQ 2025, UK Kantar Household Panel 2025
Page 8
8 ADAPTING TO WIN IN A RAPIDLY EVOLVING ENVIRONMENT Affordability Better- For-You Private Label GLP-1 Inflation Emerging Markets AI K-shaped Economy SNAP Protein Cocoa Prices Consumer Sentiment Elasticity Promos Significant brand investments Addressing affordability and value Expanding & digitizing Emerging Markets distribution Scale offerings in BFY , Premium & Protein Improving resiliency of cocoa supply chain
Page 9
2 3 Financial Results 2026 Outlook 1 Business & Strategy Update AGENDA 9
Page 10
CONTINUED TOP-LINE GROWTH LED BY EMERGING MARKETS 10 Vol/Mix -3.8% Vol/Mix -5.4% +8.0% +3.4% Emerging Markets Organic Net Revenue Growth 40% of Total MDLZ Revenue1 Mondelēz Organic Net Revenue Growth Vol/Mix -4.8% +5.1%Q4 2025 Developed Markets Organic Net Revenue Growth 60% of Total MDLZ Revenue1 1 FY25 net revenues FY 2025 Vol/Mix -3.3% Vol/Mix -3.8% +7.2% +2.5% Vol/Mix -3.7% +4.3%
Page 11
CHOCOLATE GROWTH UNDERPINNED BY COCOA-LED PRICING; BISCUITS GROWTH IMPACTED BY US CONSUMPTION SOFTNESS 11 Vol/Mix -9.4% Vol/Mix -0.7% +11.4% +5.5% Vol/Mix -3.9% +0.1%Q4 2025 Biscuits & Baked Snacks Organic Net Revenue Growth 48% of Total MDLZ Revenue1 Chocolate Organic Net Revenue Growth 33% of Total MDLZ Revenue1 Gum & Candy Organic Net Revenue Growth 10% of Total MDLZ Revenue1 1 FY25 net revenues FY 2025 Vol/Mix -7.5% Vol/Mix -2.3% +11.4% +2.8% Vol/Mix -1.7% +0.8%
Page 12
SHARE PERFORMANCE IMPACTED BY SOFT US BISCUITS PERFORMANCE AND PRICE ELASTICITY IN SELECT CHOCOLATE MARKETS Category Value Growth1 YTD 2025 12 1 Share performance and category growth based on available scanner data from several external sources, including Nielsen Global Data, as of January 29, 2026 for measured channels in key markets where the company competes. Share performance defined as percentage of revenues with share either gaining or holding versus the same prior year period. Market data excludes some channels not measured by Nielsen (e.g. World Travel Retail). Category growth data for some Emerging Markets has been substituted with MDLZ revenue growth data due to data availability issues; Argentina data excluded due to the distorting impact caused by its recent currency devaluation 0.9% 9.3% 4.7% 4.1% Biscuits Chocolate Gum & Candy Total Snacks Snacks Revenue Gaining/Holding Share1 & Baked Snacks ~50% ~40% 2024 YTD 2025
Page 13
STRONG Q4 TOP-LINE RESULTS IN MAJORITY OF REGIONS 13 North AmericaMondelēz Europe AMEA Latin America Organic Net Revenue Growth by Region +8.6% Vol/Mix -5.3pp -1.9% Vol/Mix -2.7pp +4.3% Vol/Mix -3.7pp +5.7% Vol/Mix -2.1pp +4.6% Vol/Mix -3.2pp Q4 2025 FY 2025 +8.3% Vol/Mix -7.4pp -0.5% Vol/Mix -3.7pp +5.1% Vol/Mix -4.8pp +7.5% Vol/Mix -1.8pp +4.4% Vol/Mix -4.1pp
Page 14
Q4 PROFIT GROWTH DUE TO COST SAVINGS AND LAPPING COCOA COSTS 14 Adjusted Gross Profit FY 2025 vs PY FY 2024 Adjusted Gross Profit $13.8B FY 2025 Adj. Gross Profit @ Cst FX FY 2025 Adjusted Gross Profit $12.2B $12.3B -MSD% -HSD% +MSD% -11.4% (Cst Fx) -10.6% (Rpt Fx) ForexPricing Net of Comm. Costs Vol/Mix Net Prod’y / Other FY 2024 Adjusted OI FY 2025 Adj. OI @ Cst FX FY 2025 Adjusted OI ForexSG&A / Other Gross Profit $5.9B $5.0B $5.1B-DD% -DD% -15.5% (Cst Fx) -13.9% (Rpt Fx) Adjusted Operating Income FY 2025 vs PY $3.0B -HSD% +MSD% +MSD% $3.1B +1.6% $3.2B +5.8% Q4 vs PY $1.0B +MSD% -DD% $1.2B +22.1% $1.2B +30.1%
Page 15
Q4 EPS GROWTH LED BY IMPROVING PROFIT FROM OPERATIONS, PARTIALLY OFFSET BY PRIOR YEAR TAX BENEFIT FY 2025 EPS vs PY Adjusted, Fav/(Unfav) $3.35 $(0.50) $0.10 $(0.06) $(0.03) $2.86 $0.06 $2.92 FY 2024 Adjusted EPS FY 2025 Adj. EPS @ Cst FX Forex FY 2025 Adjusted EPS TaxesSharesOperations Interest/ Other 15 -14.6% (Cst Fx) -12.8% (Rpt Fx) Q4 vs PY $0.65 $0.12 $0.02 $- $(0.11) $0.68 +$0.03 +4.6% $0.04 $0.72 +$0.07 +10.8%
Page 16
Free Cash Flow Share Repurchases Dividends $3.2 Billion FY CCC -37 days $2.4 Billion FY $58.02 average price $2.5 Billion FY 16 STRONG CASH GENERATION AND CAPITAL RETURN
Page 17
2 3 Financial Results 2026 Outlook 1 Business & Strategy Update AGENDA 17
Page 18
Cocoa prices falling vs record highs, yet remain considerably higher than historical average FY Average London Cocoa Prices (GBP/Ton) Cocoa Update • Surplus expected in 25/26 crop due to: • Favorable weather in West Africa • Continued Rest of World growth • Demand elasticity • Industry covered majority of 2026 before latest market price correction • Vast majority of our 2026 cocoa hedged • Continued progress on our strategic cocoa supply chain priorities ~£2700 ~£6500 ~£5900 ~£4800 ~£3000 2023 2024 2025 2026 Estimated Industry Coverage 2026 Futures Source: London Cocoa Future Historical spot prices (Investing.com), Futures Market Structure (Barchart.com)18
Page 19
FY26 Outlook FY 2026 OUTLOOK 19 Free Cash Flow Adjusted EPS Growth (Cst. Fx) Organic Net Revenue Growth FY26 Planning Assumptions 1 Expected FY26 currency impact on revenue and EPS based on January 20, 2026 published FX rates (source: XE.com) Flat to +2% Flat to +5% ~$3B Inflation % of COGS ~LSD% Adj. Interest Expense ~$375M Adj. Effective Tax Rate Mid 20s Share Repurchases ~$2B Forex Impacts1 NR: ~+2pp EPS: +$0.06 3-5% +HSD% $3B+ LT Algo
Page 20
20 2026 REMARKS • Distinct plans to improve performance in Developed Markets underpinned by consumer insights: • North America key actions: • Boosting Core brands awareness • Addressing affordability and value • Expanding offerings into growing segments, occasions & channels • Activating Supply Chain program • Europe key actions: • Driving price competitiveness leveraging PPA • Doubling-down on transformative innovation • Significant increase in A&C investments across markets • Strong confidence in sustained emerging markets performance • We expect strong 2027 EPS growth, driven by our actions in Developed Markets along with recent cocoa price trends
Page 22
SPOT RATES VERSUS 2025 AVERAGE FX RATES FOR KEY COUNTRIES Pound Sterling Mexican Peso Indian Rupee Euro Chinese Yuan Canadian Dollar Brazilian Real Australian Dollar Argentine Peso Source: XE.com Full Year 20251 January 20th Rate Impact vs 2025 Datei:Flag of India.svg 19.21 / $US US$1.13 / € 87.17 / $US 5.59 / $US US$1.32 / £ US$0.64 / AUD US$1.17 / € 5.36/ $US US$0.67 / AUD 17.61 / $US 91.03 / $US US$1.35 / £ 6.96 / $US 1224.29 / $US 1435.55 / $US 7.19 / $US US$0.72 / CAD US$0.72 / CAD 22 1 Average of 2025 monthly fx rates
Page 23
OUTLOOK 23 Our outlook for Organic Net Revenue growth, Adjusted EPS growth on a constant currency basis, Adjusted Interest Expense, Adjusted Effective Tax Rate and Free Cash Flow for full- year 2026 are non-GAAP financial measures that exclude or otherwise adjust for items impacting comparability of financial results such as the impact of changes in currency exchange rates, intangible asset impairment charges, acquisitions and divestitures. Because GAAP financial measures on a forward-looking basis are not accessible and reconciling information is not available without unreasonable effort, we have not provided that information with regard to the non-GAAP financial measures in our outlook. We are not able to reconcile our projected Organic Net Revenue growth to our projected reported net revenue growth for the full-year 2026 because we are unable to predict during this period the impacts from potential acquisitions or divestitures as well as the impact of currency translation due to the unpredictability of future changes in currency exchange rates, which could be material as a significant portion of our operations are outside the U.S. We are not able to reconcile our projected Adjusted EPS growth on a constant currency basis, Adjusted Interest Expense and Adjusted Effective Tax Rate to our projected reported diluted EPS growth, reported interest and other expense, net, and reported effective tax rate, respectively, for full-year 2026 due to several factors, which could include: our ability to predict during this period mark-to-market impacts from commodity and foreign currency derivative contracts, impacts of any impairment charges that may arise in a future period and impacts from potential acquisitions or divestitures as well as the impact of currency translation due to the unpredictability of future changes in currency exchange rates, which could be material as a significant portion of our operations are outside the U.S. We are not able to reconcile our projected Free Cash Flow to our projected net cash from operating activities for full-year 2026 because we are unable to predict during this period the timing and amount of capital expenditures impacting cash flow. Therefore, because of the uncertainty and variability of the nature and amounts of future adjustments, which could be significant, we are unable to provide a reconciliation of these measures without unreasonable effort.
Page 24
ADDITIONAL NON-GAAP FINANCIAL MEASURES DEFINITIONS 24 “Adjusted SG&A” is defined as selling, general and administrative expenses (the most comparable U.S. GAAP financial measure) excluding impacts of: restructuring charges, divestiture-related items, acquisition-related items, operating results from short-term distributor agreements related to the sale of a business, mark-to-market impacts from commodity and foreign currency derivative contracts, remeasurement of net monetary position of highly inflationary countries, incremental costs incurred due to the war in Ukraine, the European Commission legal matter, resolution of tax matters and operating costs from the ERP System Implementation program. We excluded the items which we believe may obscure trends in our SG&A expense from our Adjusted SG&A expense. We also evaluate growth in our Adjusted SG&A on a constant currency basis. “Adjusted Interest Expense” is defined as interest expense and other, net (the most comparable U.S. GAAP financial measure) excluding losses on debt extinguishment and related expenses, mark-to-market impacts from commodity and foreign currency derivative contracts, pension participation changes, resolution of tax matters and acquisition-related items. We excluded the items which we believe may obscure trends in our interest expense and other, net from our Adjusted Interest Expense. “Adjusted Effective Tax Rate” is defined as effective income tax rate (the most comparable U.S. GAAP financial measure) excluding the impacts of: restructuring charges, gains or losses (including non-cash impairment charges) on goodwill and intangible assets, divestiture-related items, acquisition-related items, operating results from short-term distributor agreements related to the sale of a business, mark-to-market impacts from commodity and foreign currency derivative contracts, remeasurement of net monetary position of highly inflationary countries, resolution of tax matters, incremental costs due to the war in Ukraine, the European Commission legal matter, pension participation changes, operating costs from the ERP System Implementation program, losses on debt extinguishment and related expenses, gains or losseson marketable securities transactions, initial impacts from enacted tax law changes and gains or losses on equity method investment transactions. We excluded the items which we believe may obscure trends in our pre‐tax income and the related tax effect of those items on our Adjusted Effective Tax Rate. Please refer to the definitions of additional non-GAAP measures in our earnings release for Q4 2025 located at https://www.mondelezinternational.com/investors.
Page 25
GAAP TO NON-GAAP RECONCILIATIONS 25 Latin America AMEA Europe North America Mondelēz International For the Three Months Ended December 31, 2025 Reported (GAAP) 1,264$ 2,078$ 4,391$ 2,763$ 10,496$ Divestitures - - - (4) (4) Acquisitions - (28) - - (28) Currency-related items (42) 1 (335) (2) (378) Organic (Non-GAAP) 1,222$ 2,051$ 4,056$ 2,757$ 10,086$ For the Three Months Ended December 31, 2024 Reported (GAAP) 1,171$ 1,908$ 3,744$ 2,781$ 9,604$ Divestitures - - - (10) (10) Organic (Non-GAAP) 1,171$ 1,908$ 3,744$ 2,771$ 9,594$ $ Change - Reported (GAAP) 93$ 170$ 647$ (18)$ 892$ $ Change - Organic (Non-GAAP) 51 143 312 (14) 492 % Change - Reported (GAAP) 7.9 % 8.9 % 17.3 % (0.6)% 9.3 % Divestitures - pp - pp - pp 0.2 pp 0.1 pp Acquisitions - (1.5) - - (0.3) Currency-related items (3.5) 0.1 (9.0) (0.1) (4.0) % Change - Organic (Non-GAAP) 4.4 % 7.5 % 8.3 % (0.5)% 5.1 % Vol/Mix (4.1)pp (1.8)pp (7.4)pp (3.7)pp (4.8)pp Pricing 8.5 9.3 15.7 3.2 9.9 Latin America AMEA Europe North America Mondelēz International For the Twelve Months Ended December 31, 2025 Reported (GAAP) 4,899$ 7,932$ 15,027$ 10,679$ 38,537$ Divestitures - - - (34) (34) Acquisitions - (316) - - (316) Currency-related items 253 93 (605) 18 (241) Organic (Non-GAAP) 5,152$ 7,709$ 14,422$ 10,663$ 37,946$ For the Twelve Months Ended December 31, 2024 Reported (GAAP) 4,926$ 7,296$ 13,309$ 10,910$ 36,441$ Divestitures - - - (41) (41) Short-term distributor agreements - - (25) - (25) Organic (Non-GAAP) 4,926$ 7,296$ 13,284$ 10,869$ 36,375$ $ Change - Reported (GAAP) (27)$ 636$ 1,718$ (231)$ 2,096$ $ Change - Organic (Non-GAAP) 226 413 1,138 (206) 1,571 % Change - Reported (GAAP) (0.5)% 8.7 % 12.9 % (2.1)% 5.8 % Divestitures - pp - pp - pp - pp - pp Short-term distributor agreements - - 0.2 - 0.1 Acquisitions - (4.3) - - (0.9) Currency-related items 5.1 1.3 (4.5) 0.2 (0.7) % Change - Organic (Non-GAAP) 4.6 % 5.7 % 8.6 % (1.9)% 4.3 % Vol/Mix (3.2)pp (2.1)pp (5.3)pp (2.7)pp (3.7)pp Pricing 7.8 7.8 13.9 0.8 8.0 Net Revenues to Organic Net Revenue (in millions of U.S. dollars) (Unaudited)
Page 26
GAAP TO NON-GAAP RECONCILIATIONS 26 Net Revenues Gross Profit Gross Profit Margin Operating Income Operating Income Margin Reported (GAAP) 10,496$ 2,956$ 28.2 % 952$ 9.1 % Restructuring charges - - 9 Mark-to-market (gains)/losses from derivatives - 231 231 Acquisition-related items - (1) 1 Divestiture-related items (4) 3 (9) Incremental costs due to war in Ukraine - 1 - ERP System Implementation costs - 9 52 Remeasurement of net monetary position - (1) 10 Adjusted (Non-GAAP) 10,492$ 3,198$ 30.5 % 1,246$ 11.9 % Currency-related items (126) (76) Adjusted @ Constant FX (Non-GAAP) 3,072$ 1,170$ Net Revenues Gross Profit Gross Profit Margin Operating Income Operating Income Margin Reported (GAAP) 9,604$ 3,711$ 38.6 % 1,611$ 16.8 % Restructuring charges - 11 69 Mark-to-market (gains)/losses from derivatives - (706) (700) Acquisition-related items - 1 (66) Divestiture-related items (10) - (2) Incremental costs due to war in Ukraine - - 1 ERP System Implementation costs - 7 40 Remeasurement of net monetary position - - 5 Adjusted (Non-GAAP) 9,594$ 3,024$ 31.5 % 958$ 10.0 % Gross Profit Operating Income $ Change - Reported (GAAP) (755)$ (659)$ $ Change - Adjusted (Non-GAAP) 174 288 $ Change - Adjusted @ Constant FX (Non-GAAP) 48 212 % Change - Reported (GAAP) (20.3)% (40.9)% % Change - Adjusted (Non-GAAP) 5.8 % 30.1 % % Change - Adjusted @ Constant FX (Non-GAAP) 1.6 % 22.1 % Gross Profit/Operating Income to Adjusted Gross Profit/Operating Income (in millions of U.S. dollars) (Unaudited) For the Three Months Ended December 31, 2025 For the Three Months Ended December 31, 2024
Page 27
GAAP TO NON-GAAP RECONCILIATIONS 27 Net Revenues Gross Profit Gross Profit Margin Operating Income Operating Income Margin Reported (GAAP) 38,537$ 10,935$ 28.4 % 3,548$ 9.2 % Restructuring charges - (3) (3) Intangible asset impairment charges - - 33 Mark-to-market (gains)/losses from derivatives - 1,345 1,341 Acquisition-related items - (2) (10) Divestiture-related items (34) 1 (17) Incremental costs due to war in Ukraine - 1 1 ERP System Implementation costs - 27 163 Remeasurement of net monetary position - (1) 34 Resolution of tax matters - - (16) Adjusted (Non-GAAP) 38,503$ 12,303$ 32.0 % 5,074$ 13.2 % Currency-related items (105) (94) Adjusted @ Constant FX (Non-GAAP) 12,198$ 4,980$ Net Revenues Gross Profit Gross Profit Margin Operating Income Operating Income Margin Reported (GAAP) 36,441$ 14,257$ 39.1 % 6,345$ 17.4 % Restructuring charges - 30 149 Intangible asset impairment charges - - 153 Mark-to-market (gains)/losses from derivatives - (550) (543) Acquisition-related items - 15 (313) Divestiture-related items (41) (2) (2) Operating results from short-term distributor agreements (25) (3) (2) European Commission legal matter - - (3) Incremental costs due to war in Ukraine - 2 3 ERP System Implementation costs - 14 78 Remeasurement of net monetary position - - 31 Adjusted (Non-GAAP) 36,375$ 13,763$ 37.8 % 5,896$ 16.2 % Gross Profit Operating Income $ Change - Reported (GAAP) (3,322)$ (2,797)$ $ Change - Adjusted (Non-GAAP) (1,460) (822) $ Change - Adjusted @ Constant FX (Non-GAAP) (1,565) (916) % Change - Reported (GAAP) (23.3)% (44.1)% % Change - Adjusted (Non-GAAP) (10.6)% (13.9)% % Change - Adjusted @ Constant FX (Non-GAAP) (11.4)% (15.5)% Gross Profit/Operating Income to Adjusted Gross Profit/Operating Income (in millions of U.S. dollars) (Unaudited) For the Twelve Months Ended December 31, 2025 For the Twelve Months Ended December 31, 2024
Page 28
GAAP TO NON-GAAP RECONCILIATIONS 28 2025 2024 $ Change % Change Diluted EPS attributable to Mondelēz International (GAAP) 0.51$ 1.30$ (0.79)$ (60.8)% Restructuring charges 0.01 0.04 (0.03) Mark-to-market losses/(gains) from derivatives 0.15 (0.42) 0.57 Acquisition-related items - (0.03) 0.03 Divestiture-related items - (0.02) 0.02 ERP System Implementation costs 0.03 0.02 0.01 Remeasurement of net monetary position 0.01 0.01 - Pension participation changes 0.01 - 0.01 Initial impacts from enacted tax law changes 0.01 0.01 - Gain on marketable securities (0.01) - (0.01) Gain on equity method investment transactions - (0.26) 0.26 Adjusted EPS (Non-GAAP) 0.72$ 0.65$ 0.07$ 10.8 % Currency-related items (0.04) - (0.04) Adjusted EPS @ Constant FX (Non-GAAP) 0.68$ 0.65$ 0.03$ 4.6 % Adjusted EPS @ Constant FX - Key Drivers Increase in operations 0.12$ Change in income taxes (0.11) Change in shares outstanding 0.02 0.03$ Diluted EPS to Adjusted EPS (Unaudited) For the Three Months Ended December 31,
Page 29
2025 2024 $ Change % Change Diluted EPS attributable to Mondelēz International (GAAP) 1.89$ 3.42$ (1.53)$ (44.7)% Restructuring charges - 0.09 (0.09) Intangible asset impairment charges 0.02 0.08 (0.06) Mark-to-market losses/(gains) from derivatives 0.83 (0.32) 1.15 Acquisition-related items 0.01 (0.17) 0.18 Divestiture-related items - (0.08) 0.08 ERP System Implementation costs 0.10 0.04 0.06 Remeasurement of net monetary position 0.03 0.02 0.01 Pension participation changes 0.20 0.01 0.19 Resolution of tax matters (0.02) - (0.02) Initial impacts from enacted tax law changes 0.01 0.02 (0.01) Gain on marketable securities (0.02) - (0.02) (Gain)/loss on equity method investment transactions (0.13) 0.24 (0.37) Adjusted EPS (Non-GAAP) 2.92$ 3.35$ (0.43)$ (12.8)% Currency-related items (0.06) - (0.06) Adjusted EPS @ Constant FX (Non-GAAP) 2.86$ 3.35$ (0.49)$ (14.6)% Adjusted EPS @ Constant FX - Key Drivers Decrease in operations (0.52)$ Impact from acquisitions 0.02 Change in benefit plan non-service income (0.01) Change in interest and other expense, net (0.05) Change in income taxes (0.03) Change in shares outstanding 0.10 (0.49)$ Diluted EPS to Adjusted EPS (Unaudited) For the Twelve Months Ended December 31, 29 GAAP TO NON-GAAP RECONCILIATIONS
Page 30
GAAP TO NON-GAAP RECONCILIATIONS 30
Page 31
GAAP TO NON-GAAP RECONCILIATIONS 31 Emerging Markets Developed Markets Mondelēz International For the Three Months Ended December 31, 2025 Reported (GAAP) 4,122$ 6,374$ 10,496$ Divestitures - (4) (4) Acquisitions (28) - (28) Currency-related items (162) (216) (378) Organic (Non-GAAP) 3,932$ 6,154$ 10,086$ For the Three Months Ended December 31, 2024 Reported (GAAP) 3,640$ 5,964$ 9,604$ Divestitures - (10) (10) Organic (Non-GAAP) 3,640$ 5,954$ 9,594$ $ Change - Reported (GAAP) 482$ 410$ 892$ $ Change - Organic (Non-GAAP) 292 200 492 % Change - Reported (GAAP) 13.2 % 6.9 % 9.3 % Divestitures - pp 0.1 pp 0.1 pp Acquisitions (0.8) - (0.3) Currency-related items (4.4) (3.6) (4.0) % Change - Organic (Non-GAAP) 8.0 % 3.4 % 5.1 % Vol/Mix (3.8)pp (5.4)pp (4.8)pp Pricing 11.8 8.8 9.9 Emerging Markets Developed Markets Mondelēz International For the Twelve Months Ended December 31, 2025 Reported (GAAP) 15,364$ 23,173$ 38,537$ Divestitures - (34) (34) Acquisitions (316) - (316) Currency-related items 134 (375) (241) Organic (Non-GAAP) 15,182$ 22,764$ 37,946$ For the Twelve Months Ended December 31, 2024 Reported (GAAP) 14,163$ 22,278$ 36,441$ Divestitures - (41) (41) Short-term distributor agreements (3) (22) (25) Organic (Non-GAAP) 14,160$ 22,215$ 36,375$ $ Change - Reported (GAAP) 1,201$ 895$ 2,096$ $ Change - Organic (Non-GAAP) 1,022 549 1,571 % Change - Reported (GAAP) 8.5 % 4.0 % 5.8 % Divestitures - pp 0.1 pp - pp Short-term distributor agreements - 0.1 0.1 Acquisitions (2.2) - (0.9) Currency-related items 0.9 (1.7) (0.7) % Change - Organic (Non-GAAP) 7.2 % 2.5 % 4.3 % Vol/Mix (3.3)pp (3.8)pp (3.7)pp Pricing 10.5 6.3 8.0 Net Revenues to Organic Net Revenue (in millions of U.S. dollars) (Unaudited)
Page 32
GAAP TO NON-GAAP RECONCILIATIONS 32 Biscuits & Baked Snacks Chocolate Gum & Candy Total Snacks Beverage Cheese & Grocery Mondelēz International For the Three Months Ended December 31, 2025 Reported (GAAP) 4,686$ 3,777$ 1,089$ 9,552$ 265$ 679$ 10,496$ Divestitures (4) - - (4) - - (4) Acquisitions (28) - - (28) - - (28) Currency-related items (118) (193) (30) (341) 2 (39) (378) Organic (Non-GAAP) 4,536$ 3,584$ 1,059$ 9,179$ 267$ 640$ 10,086$ For the Three Months Ended December 31, 2024 Reported (GAAP) 4,541$ 3,218$ 1,004$ 8,763$ 240$ 601$ 9,604$ Divestitures (10) - - (10) - - (10) Organic (Non-GAAP) 4,531$ 3,218$ 1,004$ 8,753$ 240$ 601$ 9,594$ % Change - Reported (GAAP) 3.2 % 17.4 % 8.5 % 9.0 % 10.4 % 13.0 % 9.3 % % Change - Organic (Non-GAAP) 0.1 % 11.4 % 5.5 % 4.9 % 11.3 % 6.5 % 5.1 % Vol/Mix (3.9)pp (9.4)pp (0.7)pp (5.5)pp 1.7 pp 3.8 pp (4.8)pp Pricing 4.0 20.8 6.2 10.4 9.6 2.7 9.9 Biscuits & Baked Snacks Chocolate Gum & Candy Total Snacks Beverage Cheese & Grocery Mondelēz International For the Twelve Months Ended December 31, 2025 Reported (GAAP) 18,391$ 12,696$ 4,060$ 35,147$ 1,006$ 2,384$ 38,537$ Divestitures (34) - - (34) - - (34) Acquisitions (316) - - (316) - - (316) Currency-related items (138) (171) 67 (242) 39 (38) (241) Organic (Non-GAAP) 17,903$ 12,525$ 4,127$ 34,555$ 1,045$ 2,346$ 37,946$ For the Twelve Months Ended December 31, 2024 Reported (GAAP) 17,802$ 11,248$ 4,040$ 33,090$ 1,096$ 2,255$ 36,441$ Divestitures (41) - - (41) - - (41) Short-term distributor agreements - - (25) (25) - - (25) Organic (Non-GAAP) 17,761$ 11,248$ 4,015$ 33,024$ 1,096$ 2,255$ 36,375$ % Change - Reported (GAAP) 3.3 % 12.9 % 0.5 % 6.2 % (8.2)% 5.7 % 5.8 % % Change - Organic (Non-GAAP) 0.8 % 11.4 % 2.8 % 4.6 % (4.7)% 4.0 % 4.3 % Vol/Mix (1.7)pp (7.5)pp (2.3)pp (3.8)pp (11.1)pp 2.2 pp (3.7)pp Pricing 2.5 18.9 5.1 8.4 6.4 1.8 8.0 Net Revenues to Organic Net Revenue by Consumer Sector (in millions of U.S. dollars) (Unaudited)