Grupo Bimbo reports Q2 net income of 6.15B Mexican pesos, up from year-ago income of 3.03B pesos, as net sales rise 18.1% to 96.43B pesos, primarily due to strong price/mix and volumes performance across every region

Grupo Bimbo S.A.B. de C.V . ("Grupo Bimbo" or "the Company") (BMV: BIMBO) reports its results for the three months ended June 30, 2022 .1

The second quarter results of the confectionary business in process of sale are presented as a discontinued operation in the income statement. The main captions of the income statement of 2Q 2022 and 2021, attributable to this business, presented as Results from Discontinued Operations are (figures in million Mexican Pesos): Sales $2,653 ( $2,248 for 2021), Operating Costs and Expenses $2,107 ( $1,837 for 2021) and Net Income $434 ( $319 for 2021). See note "Information to disclose on Discontinued Operations" of the Mexican Stock Exchange Report.

HIGHLIGHTS OF THE QUARTER

• Net Sales reached a record level for a second quarter at Ps. 96,434 million, an increase of 18.1%, primarily due to strong price/mix and volumes performance across every region
• Adjusted EBITDA2 grew 12.5%; while the margin contracted 60 basis points mainly due to higher raw material costs and a higher inflationary environment
• Net Majority Income more than doubled and the margin expanded 270 basis points, reaching a record level at 6.4%
• Retuon Equity3 reached a record 16.5%
• Net Debt/Adjusted EBITDA4 ratio closed the quarter at 1.9 times

RECENT DEVELOPMENTS

• The Bimbo brand was ranked as the most chosen food brand within households in Mexico and Latin America in the Kantar Brand Footprint 2022
• The operations in Ecuador are now operating with 100% renewable electricity, the 22nd Grupo Bimbo country running with 100% renewable electricity

FINANCIAL SUMMARY

(MILLIONS OF MEXICAN PESOS)

2Q22 2Q21 Change

N E T S A L E S

(MILLIONS OF MEXICAN PESOS)

Net Sales reached a record level for a second quarter at Ps. 96,434, an increase of 18.1%, primarily due to strong price/mix and volumes performance across every region.

NORTH AMERICA 6

Net Sales in US dollars increased 16.8%, the strong

topline performance was driven by the successful implementation of pricing strategy and volume growth across all branded categories, especially mainstream and premium breads, as well as snacks.

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MEXICO

Net Sales in Mexico grew 21.6%, attributable to strong volumes and favorable price/product mix. Every channel and category posteddouble-digitgrowth, most notably the convenience channel, and the bread, sweet baked goods, snack cakes, cookies, and snacks categories.

EAA7

Net Sales in EAA during the second quarter grew 7.4% in peso terms; excluding FX effect, Net Sales increased 17.4%, reflecting pricing actions, volume growth and a favorable product mix across almost every country most importantly Spain and Portugal , and the inorganic contribution from the acquisition of Medina del Campo in Spain . This was partially offset by a challenging environment in China , mainly related toCovid-19lockdowns.

LATIN AMERICA 8

Second quarter Net Sales increased 30.8% in peso terms; excluding the FX effect, Net Sales increased 37.7%, primarily driven by strong volumes and favorable price/mix effect across every organization, highlighting Argentina , Brazil , and the wholeLatin Centrodivision, which reached record levels for the quarter. Sales growth was also benefited by the inorganic contribution from the acquisition of Aryzta do Brazil .

G R O S S P R O F I T

(MILLIONS OF MEXICAN PESOS)

Consolidated results exclude inter-company transactions.

Gross Profit for the second quarter increased 12.8%, while the margin contracted 240 basis points to 51.5%, mainly attributable to higher raw material costs across every region.

O P E R A T I N G I N C O M E

(MILLIONS OF MEXICAN PESOS)

Regional results do not reflect intercompany royalties; Mexico segment results of 2021 have been adjusted of some intercompany royalties' income that were included before; consolidated results exclude intercompany transactions.

Operating Income for the second quarter rose 54.4% and the margin expanded 250

basis points, mainly due to the strong sales performance, efficiencies across the distribution network, lower administrative expenses and a non-cash benefit of US$90 million related to the adjustment to the MEPPs liability to reflect current interest rate levels.

A D J U S T E D E B I T D A

(MILLIONS OF MEXICAN PESOS)

Regional results do not reflect intercompany royalties; Mexico segment results of 2021 have been adjusted of some intercompany royalties' income that were included before; consolidated results exclude intercompany transactions.

Adjusted EBITDA, which does not include the effect of MEPPs, increased 12.5%, while the margin contracted 60 basis points, to 13.5%, mainly due to the abovementioned higher cost of sales and inflationary environment, which was partially offset by productivity savings across the value chain and a strict control in administrative expenses.

NORTH AMERICA

North America region margin contraction of 210 basis points was mainly due to a higher inflationary environment, including commodities, labor costs, as well as challenges and shortages across the supply chain. This was partially offset by the strong sales performance, favorable branded mix and productivity benefits from past restructuring investments.

MEXICO

The margin contacted 50 basis points, mainly attributable to higher raw material costs, which was partially offset by the strong sales performance, favorable product and category mix, and productivity savings across the supply chain.

EAA

EAA posted a 60 basis points margin expansion mostly due to the sales performance and savings across the distribution network in Spain , which was partially offset by weak results in China and higher commodity prices in every organization.

LATIN AMERICA

Latin America Adjusted EBITDA margin expanded 290 basis points reaching a record level for a second quarter of 8.3%, mainly due to the strong sales performance across every organization, improved product mix, increased market penetration, productivity benefits and solid results in Brazil and Argentina .

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