Capital Allocation and Growth Strategy

Capex will Remain Elevated in 2024 and Normalize in 2025 Capital Expenditures as a % of Net Sales ~8% Capital Investment Focused on: Core confection capacity Snacking scale and optimization Supply Chain resilience and technology 5.5% 5.0% 5-6% ~4% 2021 2022 2023E 2024E Long-Term Source: Company Financials High return investment Disciplined approach

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