Mondelez International, Inc.

Third Quarter Commentary

•Net revenues increased 2.3 percent driven by our underlying Organic Net Revenue growth of 2.1 percent and favorable currency-related items, partially offset by lapping prior year net revenue from a divestiture. Organic Net Revenue growth was driven by favorable volume/mix and higher net pricing.

•Gross profit increased $1,312 million, and gross profit margin increased 1260 basis points to 39.4 percent primarily driven by a favorable year-over-year change in mark-to-market impacts from commodity and foreign currency derivatives and an increase in Adjusted Gross Profit 1 margin, partially offset by incremental costs due to geopolitical conflicts. Adjusted Gross Profit increased $414 million at constant currency and Adjusted Gross Profit margin increased 380 basis points to 34.2 percent driven primarily by lower raw material costs, lower manufacturing costs driven by productivity, favorable volume/mix and higher net pricing.

•Operating income increased $1,014 million, and operating income margin was 17.6 percent, up 1000 basis points due primarily to a favorable year-over-year change in mark-to-market impacts from commodity and foreign currency derivatives, higher Adjusted Operating Income 1 margin and a favorable year-over-year change in acquisition-related items, partially offset by higher restructuring charges, higher intangible asset impairment charges, incremental costs due to geopolitical conflicts and higher costs incurred for the ERP System Implementation program. Adjusted Operating Income increased $199 million at constant currency and Adjusted Operating Income margin increased 190 basis points to 13.9 percent, driven primarily by lower raw material costs, lower manufacturing costs driven by productivity, higher net pricing and favorable volume/mix, partially offset by higher other selling, general and administrative expenses and higher advertising and consumer promotion costs.

•Diluted EPS was $1.02, up 78.9 percent, primarily driven by a favorable year-over-year change in mark-to-market impacts from commodity and foreign currency derivatives, a favorable year-over-year change in acquisition-related items and lapping prior year pension participation charges. These favorable items were partially offset by lapping a prior year gain on equity method investment transactions, higher restructuring charges, higher costs incurred for the ERP System Implementation program, higher intangible asset impairment charges, lapping a prior year favorable resolution of tax matters and incremental costs due to geopolitical conflicts.

•Adjusted EPS was $0.78, up 5.5 percent on a constant currency basis. The increase in Adjusted EPS 1 was driven by operating increases and fewer shares outstanding, partially offset by higher income tax, higher interest and other expense and lower equity method investment net earnings.

•Capital Return: The company returned $2.8 billion to shareholders in cash dividends and share repurchases in the first nine months of 2026.