Glanbia : Q1 2026 Interim Management Statement (Glanbia Q1 IMS Presentation 2026)

Q1 2026

Interim Management Statement

2 9 A p r i l 2 0 2 6

Hugh McGuire

Chief Executive Officer

Mark Garvey

Chief Financial Officer

2 0 2 6

Strong YTD Q1 performance with volume growth and continued positive

momentum across all three segments

Optimum Nutrition delivered +18.8% LFL revenue growth1 driven by accelerating category growth, expanded distribution and innovation

Q 1

Strong volume growth of +12.5% in H&N driven by demand across end-use markets of Active Nutrition, Functional Beverages and VMS

Volume and pricing growth in protein solutions within Dairy Nutrition with overall LFL revenue growth +2.0%

Continued progress on Group-wide transformation programme, targeting $60m+

annual savings by FY27, and €22.2m returned to shareholders via share buyback

FY26 adjusted EPS2 growth expected at the upper end of medium-term guidance of 7% to 11%

3 | Glanbia PLC Q1 2026 IMS Presentation

1 Like-for-like ("LFL") revenue growth shown on a constant currency basis.

2 Adjusted Earnings Per Share ("EPS") on a constant currency basis.

PERFO RM ANCE NUTRI TI O N ( PN)

Strong first quarter performance led by Optimum Nutrition

Total revenue Q1 YTD1	+1.3%
Volume	+9.2%
Price	+2.3%
Disposals	(10.2%)

• LFL revenue2 +11.5%

  • Volume +9.2% driven by accelerating category growth, new distribution, lapping of weaker comparative and innovation

  • Pricing +2.3% with price increases implemented in the US in Q4 2025 somewhat offset by promotional activity and tactical price reductions on products in the energy category

• Optimum Nutrition LFL revenue growth of +18.8% and L13W US consumption3 +13.3% with particularly strong growth in FDM/online channels

• New campaign, sponsorships and media partnerships driving engagement

% of PN Revenue

LFL Revenue Growth2

Americas International

57% 43%

+4.0% +23.4%

4 | Glanbia PLC Q1 2026 IMS Presentation

1 Revenue growth/decline shown on a constant currency basis versus Q1 2025.

2 LFL revenue growth shown on a constant currency basis.

3 Consumption based on US measured channels for the 13-week period to 4 April 2026.

HEALTH & NUTRI TI O N ( H& N)

Continued strong volume growth momentum driven by demand in end-use markets

Total revenue Q1 YTD1	+14.8%
Volume	+12.5%
Price	(0.9%)
Acquisitions	+3.2%

• H&N LFL2 revenue growth of +11.6%

  • Volume +12.5% driven by strong demand across priority end-use markets in Active Nutrition, Functional Beverages and VMS, with strong growth in EMEA and ASPAC

  • Pricing -0.9% driven by pass-through pricing with customers

• Integration of Sweetmix and Scicore on track and capacity expansions in Asia, Europe and the US underway

  5 | Glanbia PLC Q1 2026 IMS Presentation

  1 Revenue growth/decline shown on a constant currency basis versus Q1 2025.

  2 LFL revenue growth shown on a constant currency basis.

  
  
  

  DAI RY NUTRI TI O N ( DN)

  Strong performance through volume and pricing in Protein Solutions

  Total revenue Q1 YTD1	+2.0%
  Volume	+6.4%
  Price	(4.4%)

  • LFL2 revenue growth of +2.0%

    • Volume +6.4% driven by continued strong demand for protein solutions and bioactives with demand for high-end whey proteins remaining robust

    • Pricing -4.4% reflects strong whey protein markets offset by negative cheese markets

  • Continued demand for colostrum bioactives, targeting gut health and immunity

  • Additional WPI capacity via Joint Venture on track

6 | Glanbia PLC Q1 2026 IMS Presentation

1 Revenue growth/decline shown on a constant currency basis versus Q1 2025.

2 LFL revenue growth shown on a constant currency basis.

STRONG BALANCE SHEET

D E B T

C A P I T A L

E X P E N D I T U R E

S H A R E H O L D E R R E T U R N S

Net Debt $648m

Total committed facilities of

$1.4bn

FY26 capex expected to be

$100m - $110m

€100m share buyback

authorisation

€22.2m returned via share

buyback programme1 to date Final dividend 25.67 €cent

7 | Glanbia PLC Q1 2026 IMS Presentation 1 Between 25 February 2026 and 27 April 2026.

FY 26 OUTLOOK ALIGNED WITH MEDIUM - TERM GROWTH ALGORITHM

Revenue growth: upper end of +5-7% EBITDA margin progression

Revenue growth: upper end of +4-6% EBITDA margin: 17-19%

EBITDA in the range of

$160-170m (above medium-term guidance)

Adj. EPS1 at upper end of 7% - 11% OCF Conversion 85%+

8 | Glanbia PLC Q1 2026 IMS Presentation 1 On a constant currency basis.

DELIVERING BETTER NUTRITION 1

High-growth categories with leading brands and ingredients driven by consumer megatrends

2

Sharpened and focused operating model and portfolio to capture the growth

3

Our people, portfolio, and firepower will

continue to drive strong shareholder returns

9 | Glanbia PLC Q1 2026 IMS Presentation

A P E R F O R M A N C E D R I V E N P U R P O S E L E D G L O B A L N U T R I T I O N C O M P A N Y

10 | Glanbia PLC Q1 2026 IMS Presentation