Whitebread Annual Update

Financial highlights: Return to profitability £m Statutory revenue Adjusted revenue Other income (excl. rental income) Operating costs Adjusted EBITDAR Adjusted (loss) / profit before tax Statutory profit/ (loss) before tax Cash capital expenditure Cash and cash equivalents RCF (undrawn) Net cash / (debt) FY22¹ 1,703.4 1,703.4 114.5 FY20 589.4 2,071.5 588.9 2,062.1 154.0 (937.8) (1,323.3) 472.6 (194.9) 752.7 (15.8) (635.1) 58.2 (1,007.4) 261.0 230.6 1,256.0 950.0 (1,345.3) 1,132.4 850.0 140.5 FY21 1: FY22 is a 53-week period, with week 53 total sales £41.9m sales and an estimated profit impact of £4m (46.5) 13.9 358.3 280.0 587.7 502.6 950.0 (322.9) 14 ● ● ● ● ● FY22 performance reflects the strong recovery in sales post COVID-19 restrictions and estate growth in the UK and Germany, driving statutory revenues 189% ahead of FY21 Other income of £114.5m includes £61.7m benefit from the Coronavirus Job Retention Scheme, £8.2m UK other grants and £43.6m benefit from German Government support schemes Operating costs were £407.5m higher than FY21 driven by revenue-related variable costs, estate growth and lower levels of business rates relief Adjusted loss before tax was £15.8m, with £40.8m profit in H2 Statutory profit before tax of £58.2m benefits from £74.0m of adjusting items credits including £33.2m profit on property disposals and £42.0m of net property impairment reversals Net cash of £140.5m - the business has access to £1,132.4m of cash and cash equivalents, and access to an undrawn RCF of £850.0m WHITBREAD

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