BELLRING BRANDS, INC.

Forward-Looking Statements

Certain matters discussed in this release and on BellRing’s conference call are forward-looking statements, including BellRing’s net sales, Adjusted EBITDA and capital expenditures outlook for fiscal year 2025. These forward-looking statements are sometimes identified from the use of forward-looking words such as “believe,” “should,” “could,” “potential,” “continue,” “expect,” “project,” “estimate,” “predict,” “anticipate,” “aim,” “intend,” “plan,” “forecast,” “target,” “is likely,” “will,” “can,” “may” or “would” or the negative of these terms or similar expressions, and include all statements regarding future performance, earnings projections, events or developments. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. These risks and uncertainties include, but are not limited to, the following:

•BellRing’s dependence on sales from its RTD protein shakes;

•BellRing’s ability to continue to compete in its product categories and its ability to retain its market position and favorable perceptions of its brands;

•disruptions or inefficiencies in BellRing’s supply chain, including as a result of BellRing’s reliance on third-party suppliers or manufacturers for the manufacturing of many of its products, pandemics and other outbreaks of contagious diseases, labor shortages, fires and evacuations related thereto, changes in weather conditions, natural disasters, agricultural diseases and pests and other events beyond BellRing’s control;

•BellRing’s dependence on third-party contract manufacturers for the manufacture of most of its products, including one manufacturer for nearly half of its RTD protein shakes;

•the ability of BellRing’s third-party contract manufacturers to produce an amount of BellRing’s products that enables BellRing to meet customer and consumer demand for the products;

•BellRing’s reliance on a limited number of third-party suppliers to provide certain ingredients and packaging;

•significant volatility in the cost or availability of inputs to BellRing’s business (including freight, raw materials, packaging, energy, labor and other supplies);

•BellRing’s ability to anticipate and respond to changes in consumer and customer preferences and behaviors and introduce new products;

•consolidation in BellRing’s distribution channels;

•BellRing’s ability to expand existing market penetration and enter into new markets;

•the loss of, a significant reduction of purchases by or the bankruptcy of a major customer;

•legal and regulatory factors, such as compliance with existing laws and regulations, as well as new laws and regulations and changes to existing laws and regulations and interpretations thereof, affecting BellRing’s business, including current and future laws and regulations regarding food safety, advertising, labeling, tax matters and environmental matters;

•fluctuations in BellRing’s business due to changes in its promotional activities and seasonality;

•BellRing’s ability to maintain the net selling prices of its products and manage promotional activities with respect to its products;

•BellRing’s ability to obtain additional financing (including both secured and unsecured debt) and its ability to service its outstanding debt (including covenants that restrict the operation of its business);

•the accuracy of BellRing’s market data and attributes and related information;

•changes in critical accounting estimates;

•uncertain or unfavorable economic conditions that limit customer and consumer demand for BellRing’s products or increase its costs;

•risks related to BellRing’s ongoing relationship with Post Holdings, Inc. (“Post”) following BellRing’s separation from Post and Post’s distribution of BellRing stock to Post’s shareholders (the “Spin-off”), including BellRing’s obligations under various agreements with Post;

•conflicting interests or the appearance of conflicting interests resulting from certain of BellRing’s directors also serving as officers and/or directors of Post;

•risks related to the previously completed Spin-off;

•the ultimate impact litigation or other regulatory matters may have on BellRing;

•risks associated with BellRing’s international business;

•BellRing’s ability to protect its intellectual property and other assets and to continue to use third-party intellectual property subject to intellectual property licenses;

•costs, business disruptions and reputational damage associated with technology failures, cybersecurity incidents and corruption of BellRing’s data privacy protections;

•impairment in the carrying value of goodwill or other intangible assets;

•BellRing’s ability to identify, complete and integrate or otherwise effectively execute acquisitions or other strategic transactions and effectively manage its growth;

•BellRing’s ability to hire and retain talented personnel, employee absenteeism, labor strikes, work stoppages or unionization efforts;

•BellRing’s ability to satisfy the requirements of Section 404 of the Sarbanes-Oxley Act of 2002;

•significant differences in BellRing’s actual operating results from any guidance BellRing may give regarding its performance; and

•other risks and uncertainties described in BellRing’s filings with the Securities and Exchange Commission.

These forward-looking statements represent BellRing’s judgment as of the date of this release. BellRing disclaims, however, any intent or obligation to update these forward-looking statements.