Our Company Central Garden & Pet Company (“Central”) is a leading consumer goods company in the U.S. pet and garden industries. For more than 40 years, we have delivered innovative, trusted solutions that help lawns grow greener, gardens bloom bigger, pets live healthier, and communities grow stronger. We operate through two reportable segments: Pet and Garden. Our Pet segment offers a broad range of products for dog and cat supplies, including treats and chews, toys, beds and containment, grooming items, waste management and training pads. We also provide supplies for aquatics, small animals, reptiles and pet birds, such as toys, enclosures, habitats, bedding, food and supplements, equine and livestock products, animal and household health solutions and insect control items. This segment also includes live fish and small animals as well as outdoor cushions. Products are sold under well-recognized brands including Aqueon®, Best Bully Sticks®, Cadet®, C&S®, Comfort Zone®, Farnam®, Four Paws®, Kaytee®, Nylabone®, Zilla® and Zoëcon®. Our Garden segment includes lawn and garden consumables such as grass seed; vegetable, flower and herb packet seed; wild bird feed, bird houses and other birding accessories; weed, grass, and other herbicides, insecticide and pesticide products; fertilizers and live plants. Brands in this segment include 3D®, Amdro®, Ferry-Morse®, Pennington® and Sevin®. In fiscal 2025, our consolidated net sales were $3.1 billion, of which our Pet segment, or Pet, accounted for approximately $1.8 billion and our Garden segment, or Garden, accounted for approximately $1.3 billion. In fiscal 2025, our operating income was $250 million consisting of income from our Pet segment of $216 million, income from our Garden segment of $142 million and corporate expenses of $108 million. 22 Table of Contents We were incorporated in Delaware in May 1992 as the successor to a California corporation that was formed in 1955. Our executive offices are located at 1340 Treat Boulevard, Suite 600, Walnut Creek, California 94597, and our telephone number is (925) 948-4000. Our website is www.central.com. The information on our website is not incorporated by reference in this quarterly report. Recent Developments Fiscal 2026 Third Quarter Financial Performance: •Net sales decreased $79 million, or 8%, from the prior year quarter to $882 million, due to the exit of the Pet Distribution business, while organic net sales increased 2.4%. •Gross profit decreased $15 million from the prior year quarter, while gross margin increased 130 basis points to 35.9%. •Selling, general and administrative expense decreased $6 million from the prior year quarter to $191 million and increased as a percentage of net sales to 21.7%. On a non-GAAP basis, selling, general and administrative expense decreased $11 million and increased as a percentage of net sales to 20.6%. •Operating income declined $9 million from the prior year quarter to $126 million and our operating margin improved to 14.3% in the third quarter of fiscal 2026. On a non-GAAP basis, operating income declined $3 million and operating margin improved to 15.4% from the prior year quarter. •Net income in the third quarter of fiscal 2026 was $90 million, or $1.45 per diluted share, compared to $95 million, or $1.52 per diluted share. On a non-GAAP basis, net income in the third quarter of fiscal 2026 was $96 million, or $1.54 per diluted share, compared to $98 million, or $1.56 per diluted share in the third quarter of fiscal 2025. Pet Distribution Divestiture On April 13, 2026, we entered into a strategic partnership with Phillips Pet Food & Supplies ("Phillips"), a leading national distributor of pet products, to form a new pet distribution business. The new business will operate under the Phillips brand as an independent entity focused on scaling a differentiated, high-performance nationwide distribution platform. Under the terms of the agreement, we contributed our pet distribution business, comprised of net assets of approximately $57 million, including inventory of approximately $69 million, into the newly formed entity. We received cash proceeds of approximately $31 million, a note receivable of approximately $5 million and a 20% ownership interest in the newly formed partnership valued at $26 million. Phillips and its existing investors hold the remaining 80%. As a result of the transaction, we recognized a pre-tax gain of $2.5 million during the quarter ended June 27, 2026, which is included in Other income. Pet Distribution's net sales in fiscal 2025 were $474 million. Subsequent Event On July 27, 2026, we announced we entered into a Sale and Purchase Agreement (the “Purchase Agreement”) to acquire 80% of the outstanding shares of TRIXIE Heimtierbedarf GmbH & Co. KG, a German limited partnership (“TRIXIE”) together with certain related entities. TRIXIE is the leading European pet supplies and pet snacks company and headquartered in Tarp, Germany. The acquisition strengthens our portfolio of pet and garden brands and represents a major step in expanding our presence in Europe. Under the terms of the Purchase Agreement, the Company will pay a total consideration of up to €400 million, with an upfront consideration of approximately €340 million paid in cash at closing and an earn-out potential of up to €60.0 million based on 2026 performance, each subject to certain adjustments. Certain shareholders of TRIXIE will retain approximately 20% of the shares of TRIXIE (the “Continuing Shareholders”). At future dates over at least three years, the Continuing Shareholders will have the right to require the Company to purchase their shares, and, if those rights are not exercised after three years, the Company will have a corresponding right to purchase those shares from the Continuing Shareholders. The consummation of the Company’s acquisition of TRIXIE is subject to regulatory approval and other customary closing conditions. The acquisition is expected to close in the first half of the Company’s fiscal year ending September 25, 2027. Results of Operations Three Months Ended June 27, 2026 Compared with Three Months Ended June 28, 2025 Net Sales Net sales for the three months ended June 27, 2026, decreased $78.5 million, or 8.2%, to $882.4 million from $960.9 million for the three months ended June 28, 2025. Organic net sales for the quarter ended June 27, 2026, which excludes the impact of the divestiture of the pet distribution business divested in April 2026, the closure of our operations in the United Kingdom during fiscal 2025 and the acquisition 23 Table of Contents of Champion in December 2025, increased 2.4% from the prior year quarter. Our branded product sales increased $19.0 million, and sales of other manufacturers’ products decreased $97.5 million. Pet net sales decreased $92 million, or 18.7%, to $400.5 million for the three months ended June 27, 2026, from $492.5 million for the three months ended June 28, 2025. The decrease in Pet net sales was due to the divestiture of our pet distribution business in April 2026. Pet organic net sales for the quarter ended June 27, 2026, which excludes the impact of the pet distribution business divested in April 2026, the closure of our operations in the United Kingdom during fiscal 2025 and the acquisition of Champion in December 2025, increased 1.7% from the prior year quarter. Pet branded product sales decreased $2.8 million, and sales of other manufacturers' products decreased $89.2 million. Garden net sales increased $13.5 million, or 2.9%, to $481.9 million for the three months ended June 27, 2026, from $468.4 million for the three months ended June 28, 2025. The increase in Garden net sales was due primarily to increased sales in wild bird feed, controls and grass seed businesses, primarily volume-based increases from increased retailer listings. These increases were partially offset by lower sales of third-party products, due primarily to the distribution loss of a product line. Garden branded product sales increased $21.8 million, and sales of other manufacturers' products decreased $8.3 million. Gross Profit Gross profit for the three months ended June 27, 2026 decreased $15.1 million, or 4.5%, to $316.9 million from $332.0 million for the three months ended June 28, 2025. Gross margin increased 130 basis points to 35.9% for the three months ended June 27, 2026 from 34.6% for the three months ended June 28, 2025. Gross profit decreased in Pet by $22.4 million partially offset by an increase in Garden of $7.3 million while gross margin increased in both segments. The decrease in gross profit was due primarily to the divestiture of our pet distribution business in April 2026. At the same time, gross margin improved due primarily to both the positive impact of the divestiture of our pet distribution business, which had lower margins, and our cost and simplicity initiatives in both segments. Selling, General and Administrative Expenses Selling, general and administrative expenses decreased $5.8 million, or 3.0%, to $191.1 million for the three months ended June 27, 2026. As a percentage of net sales, selling, general and administrative expenses increased to 21.7% for the three months ended June 27, 2026, compared to 20.5% in the comparable prior year quarter. Selling, general and administrative expenses decreased in the Pet segment partially offset by an increase at corporate. Excluding the facility closure costs and business exit costs in both quarters, non-GAAP selling, general and administrative expense decreased $11.1 million, and selling, general and administrative expense as a percentage of net sales was 20.6% as compared to 20.1% in the prior year quarter. Selling and delivery expense decreased $2.4 million to $91.6 million for the three months ended June 27, 2026 as compared to $94.0 million in the prior year quarter. Pet segment selling and delivery expense decreased due to the divestiture of the pet distribution business. The decrease in Pet was partially offset by increased expense in Garden due primarily to increased advertising and increased delivery costs due to the higher sales volume and fuel surcharges. Warehouse and administrative expense decreased $3.4 million, to $99.5 million for the three months ended June 27, 2026 from $102.9 million for the three months ended June 28, 2025. Both Pet and Garden had lower warehouse and administrative expense partially offset by an increase in corporate expense. Pet warehouse and administrative expense decreased due to the divestiture of the pet distribution business while Garden had lower expense due primarily to lower facility closure charges in the current year quarter and lower variable compensation amounts. Corporate expenses increased $7.0 million due primarily to higher third-party provider expense, driven by M&A activity expenditures and higher payroll costs related to our investment in data improvement and AI readiness. Corporate expenses are included within administrative expense and relate to the costs of unallocated executive, administrative, finance, legal, human resources, and information technology functions. Operating Income Operating income decreased $9.3 million, or 6.9%, to $125.8 million for the three months ended June 27, 2026 from $135.1 million for the three months ended June 28, 2025. Our operating margin improved from 14.1% in the prior year quarter to 14.3% in the current year quarter. The decrease in operating income was due to a $78.5 million decrease in net sales partially offset by a 130 basis point increase in gross margin and a $5.8 million decrease in selling, general and administrative expense. Non-GAAP operating income decreased $3.0 million, or 2.2%, to $136.0 million for the three months ended June 27, 2026 from $139.0 million for the three months ended June 28, 2025. Our non-GAAP operating margin improved to 15.4% from 14.5% in the prior year quarter. The decrease in non-GAAP operating income was due to a $77.2 million decrease in net sales partially offset by a 140 basis point increase in gross margin and an $11.1 million decrease in selling, general and administrative expense. Pet operating income decreased $9.4 million, or 12.3%, to $66.8 million for the three months ended June 27, 2026 from $76.2 million for the three months ended June 28, 2025. Pet operating income decreased due to a $92.0 million decrease in net sales, partially offset by an improved gross margin and lower selling, general and administrative expenses. Pet non-GAAP operating margin improved to 19.0% from 15.8% in the prior year quarter. The decrease in non-GAAP operating income was due to a $90.7 million decrease in net sales partially offset 24 Table of Contents by a 330-basis point increase in gross margin and a $19.5 million decrease in selling, general and administrative expense, all of which were primarily impacted by the divestiture of the pet distribution business. Garden operating income increased $7.1 million to $90.1 million for the three months ended June 27, 2026 from $83.0 million for the three months ended June 28, 2025. Garden operating income increased due to an increase in net sales of $13.5 million, a higher gross margin and a relatively flat selling, general and administrative expense. Garden non-GAAP operating income increased $5.6 million to $90.8 million for the three months ended June 27, 2026 from $85.2 million for the three months ended June 28, 2025. Garden non-GAAP operating income increased due to an increase in net sales of $13.5 million and a 60-basis point increase in gross margin partially offset by higher selling, general and administrative expense. Corporate operating expense increased $7.0 million, or 28.9%, to $31.0 million for the three months ended June 27, 2026, due primarily to higher third-party provider expenses, driven by M&A activity, expenditures, and higher payroll costs related to our investment in data improvement and AI readiness. Net Interest Expense Net interest expense decreased $1.0 million, or 12.2%, from $8.8 million for the quarter ended June 28, 2025, to $7.8 million for the quarter ended June 27, 2026. The decrease was due primarily to higher interest income as a result of higher cash balances during the quarter. Debt outstanding on June 27, 2026 and June 28, 2025 was $1.2 billion. Other Income Other income is comprised of income or losses from investments accounted for under the equity method of accounting and foreign currency exchange gains and losses. Other income increased $0.4 million to income of $1.5 million for the quarter ended June 27, 2026 as compared to income of $1.1 million in the prior quarter. The increase in other income was due primarily to the gain in the current quarter from the disposition of the pet distribution business partially offset by the earnings loss from the newly formed partnership. Income Taxes Our effective income tax rate was 24.7% for the quarter ended June 27, 2026 as compared to 25.1% for the quarter ended June 28, 2025. The decrease in our effective income tax rate was due primarily to the non-deductibility for tax purposes of losses incurred in connection with the wind-down of our U.K. operations in the prior year quarter. This decrease was partially offset by an increase in the current quarter’s income tax rate from the current fiscal year’s second quarter rate due primarily to the tax impact of the contribution of our pet distribution business to the formation of a new partnership. Net Income and Earnings Per Share Net income in the third quarter of fiscal 2026 was $89.9 million, or $1.45 per diluted share, compared to $95.0 million, or $1.52 per diluted share, in the third quarter of fiscal 2025. On a non-GAAP basis, which excludes the impact of charges related to facility closures, business exits and tariff refunds received, net income in the third quarter of fiscal 2026 was $95.6 million, or $1.54 per diluted share, compared to $97.9 million, or $1.56 per diluted share, in the third quarter of fiscal 2025. Nine Months Ended June 27, 2026 Compared with Nine Months Ended June 28, 2025 Net Sales Net sales for the nine months ended June 27, 2026 decreased $45.0 million, or 1.8%, to $2,405.9 million from $2,450.9 million for the nine months ended June 28, 2025. Our branded product sales increased $64.8 million, and sales of other manufacturers’ products decreased $109.8 million. Organic net sales for the nine months ended June 27, 2026, which excludes the impact of the pet distribution business divested in April 2026, the closure of our operations in the United Kingdom during fiscal 2025 and the acquisition of Champion in December 2025, increased 3.3% from the prior year nine-months ended June 28, 2025. Pet net sales decreased $80.6 million, or 5.9%, to $1,293.1 million for the nine months ended June 27, 2026. The decrease in Pet net sales was due to our divestiture of our pet distribution business in April 2026. Pet organic net sales for the nine months ended June 27, 2026, increased 3.3% from the prior year nine months ended June 28, 2025. The increase in Pet organic net sales was due primarily to increased sales in our Dog & Cat and wild bird feed businesses. Pet branded sales increased $16.9 million, and sales of other manufacturers' products decreased $97.5 million. Garden net sales increased $35.6 million, or 3.3%, to $1,112.8 million for the nine months ended June 27, 2026. The increase in Garden net sales was due primarily to increased sales in our controls, wild bird feed and grass seed businesses benefitting from new private label business and new retailer listings. These increases were partially offset by lower sales of garden third-party products and live plants. Garden branded sales increased $47.9 million, and sales of other manufacturers’ products decreased $12.3 million. 25 Table of Contents Gross Profit Gross profit for the nine months ended June 27, 2026 increased $6.3 million, or 0.8%, to $807.1 million from $800.8 million for the nine months ended June 28, 2025. The increase in gross profit was due to a $12.9 million increase in Garden, partially offset by a $6.6 million decrease in Pet. Gross margin improved 80 basis points to 33.5% for the nine months ended June 27, 2026, from 32.7% for the nine months ended June 28, 2025. The gross margin improvement was due primarily to a 180-basis point increase in Pet, with Garden also improving 20-basis points. The decline in Pet gross profit was due primarily to the divestiture of the pet distribution business. The improvement in the Pet gross margin was due primarily to a positive mix shift from the divestiture of the pet distribution business, which had lower margins, and increased sales of higher margin products. The improvements in Garden gross profit and gross margin were due primarily to grass seed, due to increased sales and favorable inventory costs, and wild bird feed, due to increased sales and additional volume leverage. Selling, General and Administrative Expenses Selling, general and administrative expenses increased $6.4 million, or 1.2%, to $550.8 million for the nine months ended June 27, 2026 from $544.4 million for the nine months ended June 28, 2025. The increase in selling, general and administrative expenses was due to higher expenses in both Garden and corporate partially offset by lower expenses in Pet. As a percentage of net sales, selling, general and administrative expenses increased to 22.9% for the nine months ended June 27, 2026 from 22.2% for the prior year period. Excluding the facility closure costs and business exit costs in both nine-month periods, non-GAAP selling, general and administrative expense decreased $6.4 million and selling, general and administrative expense as a percentage of net sales was 22.2% as compared to 22.0% in the prior year nine-month period. Selling and delivery expense increased $4.3 million, or 1.7%, to $252.7 million for the nine months ended June 27, 2026 from $248.4 million for the nine months ended June 28, 2025. The increase in selling and delivery expense was due to higher marketing and advertising spend in both Pet and Garden partially offset by lower delivery expenses in Pet due to the pet distribution business divestiture. Warehouse and administrative expense increased $2.1 million, or 0.7%, to $298.1 million for the nine months ended June 27, 2026 from $296.0 million for the nine months ended June 28, 2025. Increased expense in both Garden and corporate was partially offset by a decrease in Pet. The increase in Garden was due primarily to higher facility closure costs incurred in the nine months of fiscal 2026 as compared to the nine months in fiscal 2025, while the decrease in Pet was due primarily to the divestiture of the pet distribution business. Corporate expenses increased $8.7 million due primarily to higher third-party provider expense driven by M&A activity expenditures and payroll related costs, including variable compensation and our investment in data improvement and AI readiness. Corporate expenses are included within administrative expense and relate to the costs of unallocated executive, administrative, finance, legal, human resources, and information technology functions. Operating Income Operating income decreased $0.1 million, or 0.1%, to $256.3 million for the nine months ended June 27, 2026 from $256.4 million for the nine months ended June 28, 2025. Our operating margin increased to 10.7% for the nine months ended June 27, 2026 from 10.5% for the nine months ended June 28, 2025. Operating income was relatively flat with a $45 million decrease in net sales and a $6.4 million increase in selling, general and administrative expense partially offset by an 80-basis point gross margin improvement. Non-GAAP operating income increased $8.7 million, or 3.3%, to $274.4 million for the nine months ended June 27, 2026, from $265.7 million for the nine months ended June 28, 2025. Our non-GAAP operating margin improved to 11.4% from 10.8% in the prior year nine month period. The increase in non-GAAP operating income was due to a 70-basis point improvement in gross margin and a $6.4 million decrease in selling, general and administrative expense partially offset by a $43.6 million decrease in net sales. Pet operating income increased $6.4 million, or 3.4%, to $194.4 million for the nine months ended June 27, 2026 from $188.1 million for the nine months ended June 28, 2025. Pet operating income increased due to an improved gross margin and lower selling, general and administrative expenses partially offset by a decrease in net sales. Pet non-GAAP operating income improved $9.5 million and operating margin improved to 15.8% compared to 14.2% in the prior nine month period. Garden operating income increased $2.2 million to $146.3 million for the nine months ended June 27, 2026 from $144.1 million for the nine months ended June 28, 2025. Garden operating income increased due to increased net sales and an improved gross margin partially offset by increased selling, general and administrative expense. Garden non-GAAP operating income increased $8.0 million to $154.4 million for the nine months ended June 27, 2026 from $146.4 million for the nine months ended June 28, 2025. Corporate operating expense increased $8.7 million to $84.5 million in the current nine months ended from $75.8 million in the comparable fiscal 2025 period due primarily to higher third-party provider expense driven by M&A activity expenditures and payroll costs, including variable compensation and our investment in date improvement and AI readiness.. 26 Table of Contents Net Interest Expense Net interest expense for the nine months ended June 27, 2026 decreased $1.3 million, or 5.1%, to $24.6 million from $25.9 million for the nine months ended June 28, 2025. The decrease in net interest expense was due primarily to higher interest income as a result of higher cash balances. Debt outstanding on June 27, 2026 and June 28, 2025 was $1.2 billion. Other Income Other income improved $1.2 million to income of $1.3 million for the nine-month period ended June 27, 2026 as compared to income of $0.1 million in the prior nine-month period. The increase in other income was due primarily to the gain from the disposition of the pet distribution business partially offset by the earnings loss from the newly formed partnership. Income Taxes Our effective income tax rate was 24.1% for the nine months ended June 27, 2026, as compared to 24.4% for the nine months ended June 28, 2025. The decrease in our effective income tax rate was due primarily to the non-deductibility for tax purposes of losses incurred in connection with the wind-down of our U.K. operations in the prior year. This decrease was partially offset by an increase in the current fiscal year's rate due primarily to the tax impact of the contribution of our pet distribution business to the formation of a new partnership. Net Income and Earnings Per Share Our net income for the nine months ended June 27, 2026 was $176.1 million, or $2.84 per diluted share, compared to $172.6 million, or $2.69 per diluted share, for the nine months ended June 28, 2025. On a non-GAAP basis, net income for the nine-month period ended June 27, 2026 was $188.0 million or $3.04 per diluted share, compared to $179.6 million, or $2.79 per diluted share, for the nine-month period ended June 28, 2025. Use of Non-GAAP Financial Measures We report our financial results in accordance with GAAP. However, to supplement the financial results prepared in accordance with GAAP, we use non-GAAP financial measures including non-GAAP net income and diluted net income per share, non-GAAP operating income, organic net sales and adjusted EBITDA. Management uses these non-GAAP financial measures that exclude the impact of specific items (described below) in making financial, operating and planning decisions and in evaluating our performance. Also, management believes that these non-GAAP financial measures may be useful to investors in their assessment of our ongoing operating performance and provide additional meaningful comparisons between current results and results in prior operating periods. While management believes that non-GAAP measures are useful supplemental information, such adjusted results are not intended to replace our GAAP financial results and should be read in conjunction with those GAAP results. We have also provided organic net sales, a non-GAAP measure that excludes the impact of businesses purchased or exited in the prior 12 months, because we believe it permits investors to better understand the performance of our historical business without the impact of recent acquisitions or dispositions. Adjusted EBITDA is defined by us as income before income tax, net other expense, net interest expense and depreciation and amortization and stock-based compensation expense (or operating income plus depreciation and amortization expense and stock-based compensation expense). Adjusted EBITDA further excludes charges related to facility closures. We present adjusted EBITDA because we believe that adjusted EBITDA is a useful supplemental measure in evaluating the cash flows and performance of our business and provides greater transparency into our results of operations. Adjusted EBITDA is used by our management to perform such evaluations. Adjusted EBITDA should not be considered in isolation or as a substitute for cash flow from operations, income from operations or other income statement measures prepared in accordance with GAAP. We believe that adjusted EBITDA is frequently used by investors, securities analysts and other interested parties in their evaluation of companies, many of which present adjusted EBITDA when reporting their results. Other companies may calculate adjusted EBITDA differently and it may not be comparable. The reconciliations of these non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are shown in the tables below. Non-GAAP financial measures reflect adjustments based on the following items: •Facility closures and business exit: we have excluded charges related to the closure of distribution and manufacturing facilities and our decisions to exit businesses as they represent infrequent transactions that impact the comparability between operating periods. •Tariff refunds: we have excluded the impact of tariff refunds received for certain tariffs previously imposed under the International Emergency Economic Powers Act which were deemed unconstitutional. We believe the tariff refund amounts we have received represent infrequent transactions that impact the comparability between operating periods. 27 Table of Contents •Business contribution to partnership formation: we have excluded the gain related to the divestiture of the pet distribution business and its contribution to the formation of a partnership as it represents an infrequent transaction that impacts the comparability between operating periods. From time to time in the future, there may be other items that we may exclude if we believe that doing so is consistent with the goal of providing useful supplemental information to investors and management. 1.During the third quarter of fiscal 2026, we recognized incremental expense of $13.8 million in the consolidated statement of operations, of which $13.0 million in our Pet segment related to the exit of a minor business and the closure of two facilities, and $0.8 million in our Garden segment related to the closure of three distribution centers in fiscal 2025 and 2024. 2.During the third quarter of fiscal 2026, we recognized incremental income in our Pet segment of $3.6 million for tariff refunds received. 3.During the third quarter of fiscal 2026, we recognized incremental income of $2.5 million in Other Income from the contribution of our pet distribution business to the formation of a new partnership. 4.During the first six months of fiscal 2026, we recognized incremental expense of $8.0 million in the condensed consolidated statement of operations, of which $7.3 million in our Garden segment related to the closure of three distribution centers in fiscal 2025 and 2024 and $0.7 million in our Pet segment related to the closure of a sales and logistics facility in Pennsylvania. 5.During the third quarter of fiscal 2025, we recognized incremental expense of $3.9 million in the consolidated statement of operations, $2.2 million in our Garden segment related to closing a distribution facility in Ontario, California and beginning the consolidation of our Western distribution network and an incremental $1.7 million in our Pet segment related to the decision to winddown our operations in the U.K. 6.During the second quarter of fiscal 2025, we recognized incremental expense of $5.3 million in the condensed consolidated statement of operations, related to the decision to wind-down our operations in the U.K. and the related facility there as we move to a direct-export model. Net Income and Diluted Net Income Per Share GAAP to Non-GAAP Reconciliation Three Months Ended Nine Months Ended June 27, 2026 June 28, 2025 June 27, 2026 June 28, 2025 (in thousands, except per share amounts) GAAP net income attributable to Central Garden & Pet Company $ 89,856 $ 95,007 $ 176,118 $ 172,649 Facility closures (1) (4) (5) (6) 13,757 3,915 21,729 9,254 Tariff refunds (2) (3,606) — (3,606) — Pet distribution business divestiture (3) (2,479) — (2,479) — Tax effect of adjustments (1,900) (1,003) (3,770) (2,258) Non-GAAP net income attributable to Central Garden & Pet Company $ 95,628 $ 97,919 $ 187,992 $ 179,645 GAAP diluted net income per share $ 1.45 $ 1.52 $ 2.84 $ 2.69 Non-GAAP diluted net income per share $ 1.54 $ 1.56 $ 3.04 $ 2.79 Shares used in GAAP and non-GAAP diluted net earnings per share calculation 61,947 62,610 61,925 64,283 28 Table of Contents Operating Income GAAP to Non-GAAP Reconciliation Three Months Ended June 27, 2026 Nine Months Ended June 27, 2026 GAAP Non-GAAP adjustments Non-GAAP GAAP Non-GAAP adjustments Non-GAAP (in thousands) Net sales $ 882,362 $ 1,354 $ 883,716 $ 2,405,887 $ 1,354 $ 2,407,241 Cost of goods sold 565,444 129 565,573 1,598,797 646 1,599,443 Gross profit $ 316,918 $ 1,225 $ 318,143 $ 807,090 $ 708 $ 807,798 Selling, general and administrative expenses 191,074 (8,926) 182,148 550,777 (17,415) 533,362 Income from operations (1) (2) (4) $ 125,844 $ 10,151 $ 135,995 $ 256,313 $ 18,123 $ 274,436 Gross margin 35.9 % 36.0% 33.5 % 33.6% Operating margin 14.3 % 15.4% 10.7 % 11.4% Operating Income GAAP to Non-GAAP Reconciliation Three Months Ended June 28, 2025 Nine Months Ended June 28, 2025 GAAP Non-GAAP adjustments Non-GAAP GAAP Non-GAAP adjustments Non-GAAP (in thousands) Net sales $ 960,913 $ — $ 960,913 $ 2,450,886 $ — $ 2,450,886 Cost of goods sold 628,903 (248) 628,655 1,650,094 (4,661) 1,645,433 Gross profit $ 332,010 $ 248 $ 332,258 $ 800,792 $ 4,661 $ 805,453 Selling, general and administrative expenses 196,884 (3,667) 193,217 544,350 (4,593) 539,757 Income from operations (5) (6) $ 135,126 $ 3,915 $ 139,041 $ 256,442 $ 9,254 $ 265,696 Gross margin 34.6 % 34.6% 32.7 % 32.9% Operating margin 14.1 % 14.5% 10.5 % 10.8% Pet Segment Operating Income GAAP to Non-GAAP Reconciliation Three Months Ended Nine Months Ended June 27, 2026 June 28, 2025 June 27, 2026 June 28, 2025 (in thousands) GAAP operating income $ 66,818 $ 76,199 $ 194,440 $ 188,070 Facility closures (1) (4) (5) (6) 12,963 1,671 13,696 7,010 Tariff refunds received (2) (3,606) — (3,606) — Non-GAAP operating income $ 76,175 $ 77,870 $ 204,530 $ 195,080 GAAP operating margin 16.7% 15.5% 15.0% 13.7% Non-GAAP operating margin 19.0% 15.8% 15.8% 14.2% 29 Table of Contents Garden Segment Operating Income GAAP to Non-GAAP Reconciliation Three Months Ended Nine Months Ended June 27, 2026 June 28, 2025 June 27, 2026 June 28, 2025 (in thousands) GAAP operating income $ 90,051 $ 82,989 $ 146,340 $ 144,143 Facility closures (1) (4) (5) 794 2,244 8,033 2,244 Non-GAAP operating income $ 90,845 $ 85,233 $ 154,373 $ 146,387 GAAP operating margin 18.7% 17.7% 13.2% 13.4% Non-GAAP operating margin 18.9% 18.2% 13.9% 13.6% Organic Net Sales GAAP to Non-GAAP Reconciliation Three Months Ended June 27, 2026 Nine Months Ended June 27, 2026 Net sales (GAAP) Effect of acquisitions & divestitures on net sales Net sales organic Net sales (GAAP) Effect of acquisitions & divestitures on net sales Net sales organic (in millions) Q3 FY 26 $ 882.4 $ 20.2 $ 862.2 $ 2,405.9 $ 237.2 $ 2,168.7 Q3 FY 25 960.9 118.7 842.2 2,450.9 351.7 2,099.2 $ increase (decrease) $ (78.5) $ 20.0 $ (45.0) $ 69.5 % increase (decrease) (8.2) % 2.4% (1.8) % 3.3 % Organic Pet Segment Net Sales GAAP to Non-GAAP Reconciliation Three Months Ended June 27, 2026 Nine Months Ended June 27, 2026 Net sales (GAAP) Effect of acquisitions & divestitures on net sales Net sales organic Net sales (GAAP) Effect of acquisitions & divestitures on net sales Net sales organic (in millions) Q3 FY 26 $ 400.5 $ 20.2 $ 380.3 $ 1,293.1 $ 237.2 $ 1,055.9 Q3 FY 25 492.5 118.7 373.8 1,373.7 351.7 1,022.0 $ increase (decrease) $ (92.0) $ 6.5 $ (80.6) $ 33.9 % increase (decrease) (18.7) % 1.7 % (5.9) % 3.3 % 30 Table of Contents Adjusted EBITDA GAAP to Non-GAAP Reconciliation Three Months Ended June 27, 2026 Pet Garden Corporate Total (in thousands) Net income attributable to Central Garden & Pet Company $ — $ — $ — $ 89,856 Interest expense, net — — — 7,767 Other income — — — (1,511) Income tax expense — — — 29,596 Net income attributable to noncontrolling interest — — — 136 Income (loss) from operations 66,818 90,051 (31,025) $ 125,844 Depreciation & amortization 9,418 9,987 229 19,634 Noncash stock-based compensation — — 6,245 6,245 Facility closures and tariff refunds received (1) (2) 9,357 794 — 10,151 Adjusted EBITDA $ 85,593 $ 100,832 $ (24,551) $ 161,874 Adjusted EBITDA GAAP to Non-GAAP Reconciliation Three Months Ended June 28, 2025 Pet Garden Corporate Total (in thousands) Net income attributable to Central Garden & Pet Company $ — $ — $ — $ 95,007 Interest expense, net — — — 8,843 Other income — — — (1,069) Income tax expense — — — 31,941 Net income attributable to noncontrolling interest — — — 404 Income (loss) from operations 76,199 82,989 (24,062) $ 135,126 Depreciation & amortization 10,391 10,383 709 21,483 Noncash stock-based compensation — — 6,044 6,044 Facility closures & business exit (5) 1,671 2,244 — 3,915 Adjusted EBITDA $ 88,261 $ 95,616 $ (17,309) $ 166,568 Adjusted EBITDA GAAP to Non-GAAP Reconciliation Nine Months Ended June 27, 2026 Pet Garden Corporate Total (in thousands) Net income attributable to Central Garden & Pet Company $ — $ — $ — $ 176,118 Interest expense, net — — — 24,618 Other income — — — (1,342) Income tax expense — — — 56,214 Net income attributable to noncontrolling interest — — — 705 Income (loss) from operations 194,440 146,340 (84,467) $ 256,313 Depreciation & amortization 30,017 30,252 708 60,977 Noncash stock-based compensation — — 15,699 15,699 Facility closures and tariff refunds received (1) (2) (4) 10,090 8,033 — 18,123 Adjusted EBITDA $ 234,547 $ 184,625 $ (68,060) $ 351,112 31 Table of Contents Adjusted EBITDA GAAP to Non-GAAP Reconciliation Nine Months Ended June 28, 2025 Pet Garden Corporate Total (in thousands) Net income attributable to Central Garden & Pet Company $ — $ — $ — $ 172,649 Interest expense, net — — — 25,931 Other income — — — (96) Income tax expense — — — 56,208 Net income attributable to noncontrolling interest — — — 1,750 Income (loss) from operations 188,070 144,144 (75,772) $ 256,442 Depreciation & amortization 29,969 31,957 2,137 64,063 Noncash stock-based compensation — — 15,572 15,572 Facility closures and business exit (5) (6) 7,010 2,244 — 9,254 Adjusted EBITDA $ 225,049 $ 178,345 $ (58,063) $ 345,331 Inflation Our revenues and margins are dependent on various economic factors, including fluctuating rates of inflation on various input costs (e.g., commodities and energy), interest rates, tariffs, currencies and consumer attitudes toward discretionary spending. Inflation moderated in fiscal 2024 and into the first half of fiscal 2025 before increasing in the second half of fiscal 2025 and first half of fiscal 2026 due primarily to the increasing impact of tariffs. We have benefited from lower cost inventory and significant productivity gains resulting in improved margins. However, the continued imposition of tariffs and a global trade war could result in higher inflation as the year progresses. Weather and Seasonality Our sales of lawn and garden products are impacted by weather conditions in the different markets we serve. Our Garden segment’s business is highly seasonal. In fiscal 2025, approximately 64% of our Garden segment’s net sales and 57% of our total net sales occurred during our second and third fiscal quarters. Substantially all of the Garden segment’s operating income is typically generated in this period. Liquidity and Capital Resources We have financed our growth through a combination of cash generated from operations, bank borrowings, supplier credit, and sales of equity and debt securities. Our business is seasonal, and our working capital requirements and capital resources track closely to this seasonal pattern. Generally, during the first fiscal quarter, accounts receivable reach their lowest level while inventory, accounts payable and short-term borrowings begin to increase. During the second fiscal quarter, receivables, accounts payable and short-term borrowings increase, reflecting the build-up of inventory and related payables in anticipation of the peak lawn and garden selling season. During the third fiscal quarter, inventory levels remain relatively constant while accounts receivable peak and short-term borrowings start to decline as cash collections are received during the peak selling season. During the fourth fiscal quarter, inventory levels are at their lowest, and accounts receivable and payables are substantially reduced through conversion of receivables to cash. We service two broad markets: pet supplies and lawn and garden supplies. Our pet supplies businesses have a year round selling cycle with a slight degree of seasonality. As a result, it is not necessary to maintain large quantities of inventory to meet peak demands. Our lawn and garden businesses are highly seasonal with approximately 64% of our Garden segment’s net sales occurring during the second and third fiscal quarters. This seasonality requires the shipment of large quantities of product well ahead of the peak consumer buying periods. To encourage retailers and distributors to stock large quantities of inventory, industry practice has been for manufacturers to give extended credit terms and/or promotional discounts. Operating Activities Net cash provided by operating activities increased by $57.8 million, from $149.8 million for the nine months ended June 28, 2025, to $207.6 million for the nine months ended June 27, 2026. The increase in cash provided by operating activities was due primarily to changes in our working capital accounts for the nine-month period ended June 27, 2026, primarily increases in accounts receivable, accounts payable, and other assets, partially offset by a decrease in inventory. 32 Table of Contents Investing Activities Net cash used in investing activities increased $26.9 million, from $34.0 million for the nine months ended June 28, 2025 to $61.0 million during the nine months ended June 27, 2026. The increase in cash used in investing activities was due primarily to more significant acquisition activity in the current year as compared to the prior year, partially offset by proceeds relating to the divestiture of the pet distribution business. Financing Activities Net cash used in financing activities decreased $123.9 million, from $156.3 million for the nine months ended June 28, 2025, to $32.3 million for the nine months ended June 27, 2026. The decrease in cash used in financing activities during the current year was due primarily to decreased open market purchases of our common stock as compared to the prior year. During the nine months ended June 27, 2026, we repurchased approximately 0.8 million shares of our non-voting Class A common stock (CENTA) on the open market at an aggregate cost of approximately $22.7 million, or approximately $28.55 per share. During the nine months ended June 28, 2025, we repurchased approximately 3.2 million shares of our non-voting Class A common stock (CENTA) on the open market at an aggregate cost of approximately $98.2 million, or approximately $30.82 per share, and approximately 1.4 million shares of our voting common stock (CENT) on the open market at an aggregate cost of approximately $50.2 million, or approximately $35.23 per share. We expect that our principal sources of funds will be cash generated from our operations and, if necessary, borrowings under our $600 million Credit Facility. Based on our anticipated cash needs, availability under our Credit Facility and the scheduled maturities of our debt, we believe that our sources of liquidity should be adequate to meet our working capital, capital spending and other cash needs for at least the next 12 months. However, we cannot assure you that these sources will continue to provide us with sufficient liquidity and, should we require it, that we will be able to obtain financing on terms satisfactory to us, or at all. We believe that cash flows from operating activities, funds available under our Credit Facility, and arrangements with suppliers will be adequate to fund our presently anticipated working capital and capital expenditure requirements for the foreseeable future. We anticipate that our capital expenditures, which are related primarily to replacements and expansion of and upgrades to plant and equipment and also investment in our continued implementation of a scalable enterprise-wide information technology platform, will be approximately $50 million in fiscal 2026, of which we have invested approximately $34 million through June 27, 2026. As part of our growth strategy, we have acquired a number of companies in the past, and we anticipate that we will continue to evaluate potential acquisition candidates in the future. If one or more potential acquisition opportunities, including those that would be material, become available in the near future, we may require additional external capital. In addition, such acquisitions would subject us to the general risks associated with acquiring companies, particularly if the acquisitions are relatively large. Total Debt At June 27, 2026, our total debt outstanding was $1,193.1 million, as compared with $1,191.3 million at June 28, 2025. Senior Notes $400 million 4.125% Senior Notes due 2031 In April 2021, we issued $400 million aggregate principal amount of 4.125% senior notes due April 2031 (the "2031 Notes"). We used a portion of the net proceeds from the offering to repay all outstanding borrowings under our Credit Facility, with the remainder used for general corporate purposes. We incurred approximately $6.0 million of debt issuance costs in conjunction with this issuance, which included underwriter fees and legal, accounting and rating agency expenses. The debt issuance costs are being amortized over the term of the 2031 Notes. The 2031 Notes require semiannual interest payments on April 30 and October 30. The 2031 Notes are unconditionally guaranteed on a senior basis by each of our existing and future domestic restricted subsidiaries which are borrowers under or guarantors of our Credit Facility. The 2031 Notes were issued in a private placement under Rule 144A and will not be registered under the Securities Act of 1933. We may redeem some or all of the 2031 Notes at our option, at any time on or after April 30, 2026 for 102.063%, on or after April 30, 2027 for 101.375%, on or after April 30, 2028 for 100.688% and on or after April 30, 2029 for 100.0%, plus accrued and unpaid interest. The holders of the 2031 Notes have the right to require us to repurchase all or a portion of the 2031 Notes at a purchase price equal to 101% of the principal amount of the notes repurchased, plus accrued and unpaid interest, upon the occurrence of a change of control. The 2031 Notes contain customary high yield covenants, including covenants limiting debt incurrence and restricted payments, subject to certain baskets and exceptions. We were in compliance with all financial covenants as of June 27, 2026. 33 Table of Contents $500 million 4.125% Senior Notes due 2030 In October 2020, we issued $500 million aggregate principal amount of 4.125% senior notes due October 2030 (the "2030 Notes"). We used a portion of the net proceeds to redeem all of our outstanding 6.125% senior notes due November 2023 (the "2023 Notes") at a redemption price of 101.531% plus accrued and unpaid interest, and to pay related fees and expenses, with the remainder used for general corporate purposes. We incurred approximately $8.0 million of debt issuance costs associated with this transaction, which included underwriter fees and legal, accounting and rating agency expenses. The debt issuance costs are being amortized over the term of the 2030 Notes. The 2030 Notes require semiannual interest payments on October 15 and April 15. The 2030 Notes are unconditionally guaranteed on a senior basis by each of our existing and future domestic restricted subsidiaries which are borrowers under or guarantors of our Credit Facility. We may redeem some or all of the 2030 Notes, at our option, in whole or in part, at any time on or after October 15, 2025 for 102.063%, on or after October 15, 2026 for 101.375%, on or after October 15, 2027 for 100.688% and on or after October 15, 2028 for 100.0%, plus accrued and unpaid interest. The holders of the 2030 Notes have the right to require us to repurchase all or a portion of the 2030 Notes at a purchase price equal to 101.0% of the principal amount of the notes repurchased, plus accrued and unpaid interest upon the occurrence of a change of control. The 2030 Notes contain customary high yield covenants, including covenants limiting debt incurrence and restricted payments, subject to certain baskets and exceptions. We were in compliance with all financial covenants as of June 27, 2026. $300 Million 5.125% Senior Notes due 2028 In December 2017, we issued $300 million aggregate principal amount of 5.125% senior notes due February 2028 (the "2028 Notes"). We used the net proceeds from the offering to finance acquisitions and for general corporate purposes. We incurred approximately $4.8 million of debt issuance costs in conjunction with this transaction, which included underwriter fees and legal, accounting and rating agency expenses. The debt issuance costs are being amortized over the term of the 2028 Notes. The 2028 Notes require semiannual interest payments on February 1 and August 1. The 2028 Notes are unconditionally guaranteed on a senior basis by our existing and future domestic restricted subsidiaries who are borrowers under or guarantors of our Credit Facility. We may redeem some or all of the 2028 Notes at our option, on or after January 1, 2026 for 100.0%, plus accrued and unpaid interest. The holders of the 2028 Notes have the right to require us to repurchase all or a portion of the 2028 Notes at a purchase price equal to 101.0% of the principal amount of the notes repurchased, plus accrued and unpaid interest upon the occurrence of a change of control. The 2028 Notes contain customary high yield covenants, including covenants limiting debt incurrence and restricted payments, subject to certain baskets and exceptions. We were in compliance with all financial covenants as of June 27, 2026. Asset-Based Loan Facility On November 7, 2025, we entered into a Fourth Amended and Restated Credit Agreement (the “Credit Agreement”). The Credit Agreement provides for a $600 million principal amount senior secured asset-based revolving credit facility, with up to an additional $400 million principal amount available, as defined, if we exercise the uncommitted accordion feature set forth therein (collectively, the “Credit Facility”). The Credit Facility matures on November 7, 2030. We may borrow, repay and reborrow amounts under the Credit Facility until its maturity date, at which time all amounts outstanding under the Credit Facility must be repaid in full. The Credit Facility is subject to a borrowing base that is calculated using a formula based upon eligible receivables and inventory, and at our election, eligible real property, minus certain reserves. Proceeds of the Credit Facility may be used for general corporate purposes. Net availability under the Credit Facility was approximately $465 million as of June 27, 2026. The Credit Facility includes a $50 million sublimit for the issuance of standby and commercial letters of credit and a $75 million sublimit for swing loan borrowings. As of June 27, 2026, there were no borrowings outstanding and no letters of credit outstanding under the Credit Facility. Outside of the Credit Facility, there were other standby and commercial letters of credit of $2.9 million outstanding as of June 27, 2026. Borrowings under the Credit Facility will bear interest at an index based on SOFR (which will not be less than 0.00%) or, at the Company's option, the Base Rate, plus, in either case, an applicable margin based on the average availability level under the Credit Facility. Base Rate is defined as the highest of (a) the Truist prime rate, (b) the Federal Funds Rate plus 0.50%, (c) one-month SOFR plus 1.00% and (d) 0.00%. The applicable margin for SOFR-based borrowings fluctuates between 1.00%-1.50%, and was 1.00% as of June 27, 2026, and the applicable margin for Base Rate borrowings fluctuates between 0.00%-0.50% and was 0.00% as of June 27, 2026. An unused line fee shall be payable quarterly in respect of the total amount of the unutilized commitments under the Credit Facility, and a letter of credit plus a facing fee to the issuing bank. We are also required to pay certain fees to the administrative agent under the Credit Facility. As of June 27, 2026, the interest rate applicable to Base Rate borrowings was 6.8%, and the interest rate applicable to one-month SOFR-based borrowings was 4.6%. 34 Table of Contents We incurred approximately $2.3 million of debt issuance costs in conjunction with this transaction, which included lender fees and legal expenses. The debt issuance costs are being amortized over the term of the Credit Facility. The Credit Facility contains customary covenants, including a financial covenant which requires us to maintain a minimum fixed charge coverage ratio of 1:1 when availability falls below certain thresholds established in the Credit Agreement, reporting requirements and events of default. The Credit Facility is secured by substantially all of our assets and the assets of our subsidiaries guaranteeing the Credit Facility, including (i) pledges of 100% of the stock or other equity interest of each domestic subsidiary that is directly owned by such entity and (ii) 65% of the stock or other equity interest of each foreign subsidiary that is directly owned by such entity, in each case subject to customary exceptions. We were in compliance with all financial covenants under the Credit Facility as of June 27, 2026. Summarized Financial Information for Guarantors and the Issuer of Guaranteed Securities Central (the "Parent/Issuer") issued $400 million of 2031 Notes in April 2021, $500 million of 2030 Notes in October 2020, and $300 million of 2028 Notes in December 2017. The 2031 Notes, 2030 Notes and 2028 Notes are fully and unconditionally guaranteed on a joint and several senior basis by each of our existing and future domestic restricted subsidiaries (the "Guarantors") which are guarantors of our Credit Facility. The 2031 Notes, 2030 Notes and 2028 Notes are unsecured senior obligations and are subordinated to all of our existing and future secured debt, including our Credit Facility, to the extent of the value of the collateral securing such indebtedness. There are no significant restrictions on the ability of the Guarantors to make distributions to the Parent/Issuer. Certain subsidiaries and operating divisions of the Company do not guarantee the 2031, 2030 or 2028 Notes and are referred to as the Non-Guarantors. The Guarantors jointly and severally, and fully and unconditionally, guarantee the payment of the principal and premium, if any, and interest on the 2031, 2030 and 2028 Notes when due, whether at stated maturity of the 2031, 2030 and 2028 Notes, by acceleration, call for redemption or otherwise, and all other obligations of the Company to the holders of the 2031, 2030 and 2028 Notes and to the trustee under the indenture governing the 2031, 2030 and 2028 Notes (the "Guarantee"). The Guarantees are senior unsecured obligations of each Guarantor and are of equal rank with all other existing and future senior indebtedness of the Guarantors. The obligations of each Guarantor under its Guarantee shall be limited to the maximum amount as well, after giving effect to all other contingent and fixed liabilities of such Guarantor and to any collections from or payments made by or on behalf of any other Guarantor in respect of the obligations of such Guarantor under the guarantee not constituting a fraudulent conveyance or fraudulent transfer under Federal or state law. The Guarantee of a Guarantor will be released: (1) upon any sale or other disposition of all or substantially all of the assets of that Guarantor (including by way of merger or consolidation), in accordance with the governing indentures, to any person other than the Company; (2) if such Guarantor merges with and into the Company, with the Company surviving such merger; (3) if the Guarantor is designated as an Unrestricted Subsidiary; or (4) if the Company exercises its legal defeasance option or covenant defeasance option or the discharge of the Company's obligations under the indentures in accordance with the terms of the indentures. The following tables present summarized financial information of the Parent/Issuer subsidiaries and the Guarantor subsidiaries. All intercompany balances and transactions between subsidiaries under Parent/Issuer and subsidiaries under the Guarantor have been eliminated. The information presented below excludes eliminations necessary to arrive at the information on a consolidated basis. In presenting the summarized financial statements, the equity method of accounting has been applied to the Parent/Issuer's interests in the Guarantor Subsidiaries. The summarized information excludes financial information of the Non-Guarantors, including earnings from and investments in these entities. Summarized Statements of Operations Nine Months Ended Fiscal Year Ended June 27, 2026 September 27, 2025 Parent/Issuer Guarantors Parent/Issuer Guarantors (in thousands) Net sales $ 509,678 $ 1,894,326 $ 770,812 $ 2,348,267 Gross profit $ 121,549 $ 677,971 $ 181,997 $ 808,803 Income (loss) from operations $ 2,949 $ 251,528 $ (5,724) $ 267,249 Equity in earnings of Guarantor subsidiaries $ 199,851 $ — $ 223,637 $ — Net income (loss) $ (23,813) $ 199,851 $ (45,373) $ 223,637 35 Table of Contents Summarized Balance Sheet Information As of As of June 27, 2026 September 27, 2025 Parent/Issuer Guarantors Parent/Issuer Guarantors (in thousands) Current assets $ 1,120,430 $ 993,413 $ 1,065,394 $ 881,526 Intercompany receivable from Non-guarantor subsidiaries 65,261 — 71,716 — Other assets 4,374,387 3,740,366 4,066,291 3,580,246 Total assets $ 5,560,078 $ 4,733,779 $ 5,203,401 $ 4,461,772 Current liabilities $ 158,769 $ 392,232 $ 165,447 $ 362,348 Intercompany payable from Non-guarantor subsidiaries — 1,250 — 1,250 Long-term debt 1,192,949 54 1,191,541 100 Other liabilities 2,426,532 205,748 2,235,827 217,213 Total liabilities $ 3,778,250 $ 599,284 $ 3,592,815 $ 580,911 New Accounting Pronouncements Refer to Footnote 1 in the notes to the condensed consolidated financial statements for new accounting pronouncements. Critical Accounting Policies, Estimates and Judgments There have been no material changes to our critical accounting policies, estimates and assumptions or the judgments affecting the application of those accounting policies since our Annual Report on Form 10-K for the fiscal year ended September 27, 2025.