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Investor Presentaiton

Full Year Non-GAAP Reconciliations (In millions, except percentages) Reconciliation of Net Income to EBITDA to ADJUSTED Net income (GAAP) 52 Weeks Ended December 29, December 27, December 26, December 25, 2019 2020 2021 2022 100.7 145.7 182.6 155.4 Related party interest income, net (0.1) (2.4) (4.6) (12.9) Interest expense 2.2 Income tax expense 34.5 50.5 55.7 58.0 Depreciation expense 44.3 48.0 44.4 47.3 Amortization expense 17.8 17.8 17.8 17.2 EBITDA (Non-GAAP Measure) 197.2 259.6 295.9 267.2 [1] Net cost savings as standalone company 5.8 14.4 14.3 44.4 [2] Separation costs 15.4 [3] Restructuring charges 10.2 6.1 4.2 25.1 [4] Restructuring-related items 0.5 5.3 3.7 12.7 [5] Asset impairment charges 41.5 9.5 46.4 [6] Recognition of actuarial gains 0.2 Adjusted EBITDA (Non-GAAP Measure) 255.2 294.9 318.1 411.4 NET SALES 2,388.7 2,469.3 2,855.3 3,275.5 Adjusted EBITDA Margin % 11% 12% 11% 13% 16
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