Utz Brands, Inc. will discuss its strategies and long-term growth targets at the 2026 Consumer Analyst Group of New York (CAGNY) Conference.

Utz Brands, Inc. (NYSE: UTZ) ("Utz" or the "Company"), a leading U.S. manufacturer of branded Salty Snacks and a small-cap value Staples equity, will discuss its strategies and long-term growth targets today at the 2026 Consumer Analyst Group of New York (CAGNY) Conference. Chief Executive Officer, Howard Friedman, and EVP and Chief Financial Officer, BK Kelley, will outline how the Company plans to deliver sustainable growth and acceleration of free cash flow as the Company exits a capital-intensive transformation stage.

"As the largest pure-play salty snack company in the country, we are focused on driving growth faster than the category," Friedman said. "We believe that prioritizing consistent topline growth, annual Adjusted EBITDA growth with margin expansion, and accelerating free cash flow will create shareholder value over time."

Four Key Strategies

Outgrow the Category, profitably

Expand Margins

Accelerate free cash flow to delever and allocate capital efficiently

Deploy leading capabilities to build a best-in-class organization

Four Key Growth Differentiators

The Company aims to grow Organic Net Sales(1) 2-3 percentage points faster than the Salty Snack Category, driven by four Key Growth Differentiators:

Boulder Canyon – maintain momentum on the Company's fastest growing brand, with a focus on expanding distribution and launching new product innovation

Geographic Expansion – continue to gain share in Expansion Geographies, which represent 45% of Company retail sales, with California expansion accelerating this rate of growth

Strengthened Core Geographies – hold share in the Core through expanded Power 4 brand distribution, a focused pricing strategy, and innovation

Winning Innovation – introduce new on-trend products supported with increased marketing support

Long-Term Financial Targets

Organic Net Sales(1) 2-3 percentage points faster than the Category, with the assumption that the Salty Snack Category will exhibit growth longer term

Long-term Net Sales potential of $1.9 billion, indicating approximately $500 million of incremental opportunity, supported by Boulder Canyon and Expansion Geographies share growth

Annual Adjusted EBITDA(1) growth of 6-8%, with a focus on growing Adjusted EBITDA dollars. This target does not include any acquisitions or divestitures.

Annual Adjusted EBITDA(1) margin expansion, driven by productivity of approximately 4% of Adjusted Cost of Goods Sold and mix improvement

Adjusted EBITDA(1) margin of at least 17% long-term due to multiple structural drivers including productivity and mix

Annual Adjusted EPS(1) growth approximately in-line with Adjusted EBITDA growth after 2026, which is impacted by a step-up of depreciation and amortization, higher interest and a higher tax rate

Accelerated Adjusted Free Cash Flow(1) of $100 million plus in 2027 and beyond, which represents approximately 80-90% conversion of Adjusted Net Income to Adjusted Free Cash Flow. Supported by long-term capital expenditures at approximately 3% of Net Sales starting in 2027

Leverage at approximately 2.5x long-term through Adjusted EBITDA(1) growth and debt paydown. The Company expects to reach 2.7x-3.0x leverage in 2027

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