Krispy Kreme (DNUT) 28th Annual ICR Conference 2026 summary

Forward-looking statements and context

• Management emphasized forward-looking statements and associated risks, referencing SEC filings for details.

• Financial discussion was limited to public disclosures, with full-year 2025 results expected in late February.

Global presence and brand strength

• Operates in over 40 countries with approximately 2,100 shops and 15,000 points of access worldwide.

• Achieved over 100 billion media impressions in FY24, reflecting strong brand visibility.

• More than 90% of sales are from doughnuts, with over 1 billion sold annually.

• U.S. household penetration is under 15%, indicating room for growth.

Turnaround plan and strategic initiatives

• A turnaround plan was launched to ensure sustainable, profitable, and capital-light growth.

• Focused on deleveraging the balance sheet and driving sustainable, profitable growth.

• Refranchising international markets and restructuring the Western U.S. joint venture to improve financial flexibility.

• Expanding margins through operational efficiency, including outsourcing U.S. logistics.

• Reducing capital intensity by leveraging existing assets and prioritizing franchise development.