McCormick & Company

For fiscal 2026, the Company expects strong cash flow driven by profit and working capital initiatives and anticipates returning a significant portion of cash flow to shareholders through dividends.

SEC original ↗McCormick & Company — Earnings release (8-K exhibit)EX-99Jun 25, 2026

The purchase of the additional 25 % ownership interest was funded through a combination of cash on hand and commercial paper borrowings.

SEC original ↗McCormick & Company — 10-Q Quarterly report10-QOct 1, 2026

For the three and nine months ended August 31, 2026, we paid total dividends to Grupo Herdez in the amounts of $ 11.3 million and $ 19.7 million, respectively.

SEC original ↗McCormick & Company — 10-Q Quarterly report10-QOct 1, 2026

, (the "Commitment Parties") pursuant to which the Commitment Parties committed to provide, subject to the terms and conditions set forth therein, a 364-day senior unsecured bridge term loan credit facility (the "Bridge Facility") in an aggregate principal amount of up to $ 15.7 billion.

SEC original ↗McCormick & Company — 10-Q Quarterly report10-QOct 1, 2026

Additional transaction costs of $ 12.4 million and $ 19.2 million for the three and nine months ended August 31, 2026, respectively, were recognized in Interest expense related to the amortization of debt financing fees associated with our pending merger with Unilever Foods.

SEC original ↗McCormick & Company — 10-Q Quarterly report10-QOct 1, 2026

FINANCING ARRANGEMENTS AND FINANCIAL INSTRUMENTS Debt and Credit Facilities In January 2026, we entered into a 364-day $ 500 million revolving credit facility, which will expire in January 2027.

SEC original ↗McCormick & Company — 10-Q Quarterly report10-QOct 1, 2026

McCormick is making strong progress on integration planning for the proposed Unilever Foods combination and remains confident in delivering the expected strategic and financial benefits, including significant earnings per share accretion.

SEC original ↗McCormick & Company — Earnings release (8-K exhibit)EX-99Jun 25, 2026

We also effectively managed elevated inflation and incremental costs related to the Middle East conflict through productivity initiatives and cost savings programs, resulting in underlying margin improvement for the quarter.

SEC original ↗McCormick & Company — Earnings release (8-K exhibit)EX-99Jun 25, 2026

This transformative combination accelerates our growth strategy and reinforces our continued focus on flavor.

SEC original ↗McCormick & Company — Earnings release (8-K exhibit)EX-99Jun 25, 2026

It creates a diversified flavor leader with a robust growth profile that remains differentiated by its focus on flavoring calories while others compete for them.

SEC original ↗McCormick & Company — Earnings release (8-K exhibit)EX-99Jun 25, 2026

Our teams are working with focus and discipline to ensure we are well positioned to realize the anticipated strategic and financial benefits after the close.

SEC original ↗McCormick & Company — Earnings release (8-K exhibit)EX-99Jun 25, 2026

The expansion was driven by contribution from the acquisition of McCormick de Mexico, the impact of the IEEPA tariff refund, pricing, and cost savings led by the Company's Comprehensive Continuous Improvement (CCI) program, partially offset by higher commodity costs and costs related to the Middle East conflict.

SEC original ↗McCormick & Company — Earnings release (8-K exhibit)EX-99Jun 25, 2026

The IEEPA tariff refund reduced costs of goods sold by $28 million, reversing IEEPA tariff costs the business absorbed in prior periods.

SEC original ↗McCormick & Company — Earnings release (8-K exhibit)EX-99Jun 25, 2026

Fiscal Year 2026 Financial Outlook McCormick's fiscal 2026 outlook continues to reflect the Company's prioritized investments in key categories to sustain its volume trends and drive long-term profitable growth while appreciating the uncertainty of the consumer and macro environment, including global trade policies and the conflict in the Middle East.

SEC original ↗McCormick & Company — Earnings release (8-K exhibit)EX-99Jun 25, 2026

The benefit of the IEEPA tariff refund will be offset with increased inflationary costs, including costs related to the Middle East conflict, as well as continued investments in business growth.

SEC original ↗McCormick & Company — Earnings release (8-K exhibit)EX-99Jun 25, 2026

SG&A expenses impacted by cost headwinds including digital transformation and build back of incentive compensation, as well as growth investments.

SEC original ↗McCormick & Company — Earnings release (8-K exhibit)EX-99Jun 25, 2026

Forward-Looking Information Certain information contained in this release, including statements concerning expected performance such as those relating to net sales, gross margin, earnings, cost savings, special charges, including transaction and integration expenses, mergers, acquisitions, brand marketing support, volume and product mix, income tax expense, tariff-related matters, and the impact of foreign currency rates are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended.

SEC original ↗McCormick & Company — Earnings release (8-K exhibit)EX-99Jun 25, 2026