Krispy Kreme Inc

Disclosure Controls and Procedures

In connection with the preparation of this Annual Report on Form 10-K, an evaluation was conducted by the Company’s management, with participation of our CEO and Chief Financial Officer (“CFO”), of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of December 29, 2024. Disclosure controls and procedures are designed to ensure that information required to be disclosed in Exchange Act reports is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our CEO and CFO, to allow timely decisions regarding required disclosure. Based on that evaluation, the Company’s management concluded that our disclosure controls and procedures were not effective as of December 29, 2024 because of the material weakness in internal control over financial reporting discussed below.

Management’s Annual Report on Internal Control Over Financial Reporting

Management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of our financial reporting for external purposes in accordance with GAAP. Internal control over financial reporting includes maintaining records that in reasonable detail accurately and fairly reflect our transactions; providing reasonable assurance that transactions are recorded as necessary for preparation of our financial statements; providing reasonable assurance that receipts and expenditures are made in accordance with management authorization; and providing reasonable assurance that unauthorized acquisition, use, or disposition of Company assets that could have a material effect on our financial statements would be prevented or detected on a timely basis. Because of its inherent limitations, internal control over financial reporting is not intended to provide absolute assurance that a misstatement of our financial statements would be prevented or detected.

Management has assessed the effectiveness of our internal control over financial reporting as of December 29, 2024 based on the framework and criteria established in Internal Control — Integrated Framework (2013)issued by the Committee of Sponsoring Organizations of the Treadway Commission. As a result of this assessment, and after our additional evaluations following the 2024 Cybersecurity Incident, management identified a material weakness related to access that could enable the creation of journal entries without review and approval. This created the potential opportunity for there to have been material errors in multiple financial statement accounts that may not have been prevented or detected timely. Although the additional evaluations following the 2024 Cybersecurity Incident aided in its identification, we believe this material weakness did not result from the 2024 Cybersecurity Incident. Based on the identification of this material weakness, management concluded that the Company did not maintain effective internal control over financial reporting as of December 29, 2024.

Remediation Measures

Management is committed to taking actions to remediate the material weakness, which include designing and implementing additional or enhanced controls to address the access that could enable the creation of journal entries without review and approval, and system controls that enable proper segregation of duties related to journal entry data and processes. We can offer no assurance that these actions will ultimately have the intended effects. The material weakness will not be considered remediated until the applicable controls operate for a sufficient period of time and management has concluded, through testing, that these controls are operating effectively. Accordingly, management will continue to monitor and evaluate the effectiveness of our internal control over financial reporting and the disclosure controls and procedures.

After giving full consideration to the material weakness described above and the additional analyses and other procedures that were performed, management believes that the Consolidated Financial Statements included in this Annual Report on Form 10-K fairly present in all material respects the Company’s financial condition, results of operations, and cash flows for the periods and dates presented.

Changes in Internal Controls over Financial Reporting

There were no changes in our internal control over financial reporting that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting during the fiscal quarter ended December 29, 2024.

Attestation of Independent Registered Public Accounting Firm

Our independent registered public accounting firm, Grant Thornton LLP, has issued an audit report with respect to our internal control over financial reporting, which appears in Item 8 of Part II of this Annual Report on Form 10-K.