Utz Brands to Introduce Long-Term Growth Strategy at 2023 Investor Day - Seite 2

The Company today reaffirmed its previously issued full-year fiscal 2023 financial outlook announced in its press release issued on November 9, 2023:

• Net sales growth of 2% to 3% and Organic Net Sales growth of 3% to 4%

• Adjusted EBITDA growth of 8% to 11%

• Net Leverage Ratio below 4.5x by year-end fiscal 2023

With respect to projected fiscal 2023 Adjusted EBITDA , a quantitative reconciliation is not available without unreasonable efforts due to the high variability, complexity, and low visibility with respect to certain items which are excluded from Adjusted EBITDA. We expect the variability of these items to have a potentially unpredictable, and potentially significant, impact on our future financial results.

New Three-Year Financial Targets

At today’s event, Utz plans to introduce the following three-year financial targets:

• 4% to 5% Organic Net Sales growth (CAGR FY 2023 – FY 2026)

• ~16% Adjusted EBITDA margin in FY 2026

• Double digit annual Adjusted Earnings per Share growth (CAGR FY 2023 – FY 2026)

• Net Leverage Ratio of ~3X by year-end 2026

With respect to projected fiscal 2026 Adjusted EBITDA margin, Adjusted Earnings per Share growth (CAGR FY 2023 – FY 2026) and Net Leverage Ratio, a quantitative reconciliation is not available without unreasonable efforts due to the high variability, complexity, and low visibility with respect to certain items which are excluded from Adjusted EBITDA and Adjusted Earnings. We expect the variability of these items to have a potentially unpredictable, and potentially significant, impact on our future financial results.

Investor Webcast Details

The presentation will be broadcast online at https://investors.utzsnacks.com on December 15, 2023 from 9:30am to 12:00pm Eastern Time. Click on https://app.webinar.net/azvOL6X0qM4 to access the event. An on-demand replay of the presentations will be available starting at approximately 3:00PM Eastern Time on Friday, December 15th, 2023.

About Utz Brands, Inc.

Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands including Utz, On The Border Chips & Dips, Golden Flake, Zapp’s, Boulder Canyon, Hawaiian Brand, and TORTIYAHS!, among others.

After a century with strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz’s products are distributed nationally through grocery, mass merchandisers, club, convenience, drug, and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities located across the U.S. to serve our growing customer base. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX.