Hostess Investor Presentation Deck

H Non-GAAP Reconciliations BRANDS GAAP results Non-GAAP adjustments: Foreign currency remeasurement Project consulting costs (1) Tax receivable agreement remeasurement Change in fair value of warrant liabilities Accelerated depreciation related to network optimization Other (2) Remeasurement of tax liabilities Tax impact of adjustments Adjusted Non-GAAP results Income tax Interest expense Depreciation & amortization Share-based compensation Adjusted EBITDA 1. 2. Gross Profit $ 121.9 1.1 123.1 Gross Margin 35.9% $ Three Months Ended December 31, 2022 Net Income Margin 9.7% $ 0.24 $ Net Income 0.4 36.3% Operating Income 56.6 $ 32.9 1.1 0.1 57.8 (0.2) 1.1 0.3 (0.3) 33.9 12.7 11.3 14.5 2.9 75.1 0.3 0.1 Diluted EPS (0.1) 10.0 $ 3.7 3.3 4.3 0.8 22.1% 0.01 0.25 $ Gross Profit 110.4 0.2 110.6 Three Months Ended December 31, 2021 Gross Net Income Margin Margin 37.1% $ 54.0 $ 12.3% Net Income 0.1 37.2% Operating Income 3.6 (1.4) 0.8 56.9 36.5 (0.3) 3.6 (1.4) (1.2) 1.0 (3.4) (0.8) 34.0 13.0 9.9 13.7 2.6 73.2 (0.1) 1.2 (0.5) (0.4) 0.3 (1.1) (0.3) Diluted EPS $ 0.25 11.4 $ 4.4 3.3 4.6 0.9 24.6% 0.03 (0.01) 0.01 (0.02) (0.01) 0.25 Project consulting costs are included in general and administrative on the condensed consolidated statement of operations. In 2022, costs related to certain corporate initiatives, of which $0.1 million is included in general and administrative expenses and $0.2 million is included in other expense (income) on the consolidated statement of operations. In 2021, costs related to certain corporate initiatives, including $0.5 million of Voortman acquisition related costs. Of the total $1.0 million, $0.2 million is included in cost of goods sold, $0.6 million is included in general and administrative and $0.2 million is included in other expense (income) on the consolidated statement of operations. 19

View entire presentation