Tyson Foods Q1 2023 Financial Results

Utilizing financial strength to invest in our business and return cash to shareholders OPERATING CASH FLOW (in billions of dollars) $1.43 1Q22 BUILD FINANCIAL STRENGTH Manage our leverage ratio to be at or below our long-term target $0.76 INVEST IN OUR BUSINESS Disciplined investments to modernize and expand capacity and support growth RETURN CASH TO SHAREHOLDERS Committed to returning cash to shareholders through dividends and share repurchases 1Q23 1 Represents a non-GAAP financial measure. Net debt/adjusted EBITDA is explained and reconciled to comparable GAAP measures in the Appendix. Leverage Ratio (Net Debt/Adj. EBITDA)1 <2.0x 1.6x 1Q23 Target Capital Expenditures (in billions) $0.6 $0.4 1Q22 Dividends (in millions) $164 $169 1Q23 Share Repurchases (in millions) $348 $313 1Q22 1Q23 1Q22 1Q23 TYSON FOODS, INC. FEBRUARY 6, 2023 19

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