Kenvue IPO Presentation Deck
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Reconciliation of Net income (loss) to Adjusted EBITDA
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(Dollars in Millions)
Net income (loss)
Interest expense
Provision (benefit) for taxes
Depreciation and amortization
EBITDA (non-GAAP)
Adjustments:
Talc legal settlement and defense
PRINTING CCosts AND DISTRIBUTION OF
ROADSHOW
IP ADDRESS Restructuring expense
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LY PROHIBITED
2022
$2,087
550
644
$3,281
100
12
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Fiscal Year IALS IS STRICTLY PROHIBITED
2019
2021MAIL user@netro 2020 com
$2,031
$(879)
Impairment of intangible assets
Unrealized loss (gain) on securities COPYING, AND DISTRICTION OF
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Separation-related costs
VAT legal resolution²
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Gains on divestments
Gain on previously held equity
investment in Dr. Ci:Labo
Adjusted EBITDA (non-GAAP)
894
731
$3,656
154
117
(18)
-
(137)
746
$(270)
4,029
66
685
709
$2,829
(74)
(25) CORVING AND D
(50)UTION OF
PRINS
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$3,810
$1,435
$320
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DRESE 95.24 50 50
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446
122
51
(1)
-
Fiscal Three
Months Ended
April 2, 2023
(Estimated)¹
(71)
(275)
$3,101
Low
270
148
$739
High
5
96
$340
1
285
161
$787
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7
Fiscal Three
Months Ended
April 3, 2022
(Actual)
Actual
101
$528
84
165
$777 OHIBIT
OF
14
10
$3,606
$3,775
$840
RIBUTION OF
$895
$801
PROHIBITED
1 We have provided estimates and ranges of certain preliminary results because our closing procedures for the fiscal three months ended April 2, 2023 are not yet complete. Our actual results for the fiscal three months ended April 2, 2023 remain subject to
the completion of management's final review and our other closing procedures, or subsequent events, as well as the completion of the review of our combined financial statements. Accordingly, we caution you not to place undue reliance on our preliminary
results set out below, which may differ from actual results. Our independent registered public accounting firm, PricewaterhouseCoopers LLP, has not audited, reviewed, compiled or applied agreed-upon procedures with respect to this preliminary financial
data; 2 As a result of a 2021 ruling by the Supreme Federal Court of Brazil related to the methodology to calculate Brazilian Federal Social Contributions on Gross Revenues, we were entitled to certain one-time tax credits for taxes paid in prior years, which
we recognized in 2021
K Kenvue
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