(Amounts in millions, except per share data, unaudited) The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited Condensed Consolidated Financial Statements and the accompanying notes included in this Quarterly Report on Form 10-Q and our Annual Report on Form 10-K filed with the SEC on November 18, 2025 (the “2025 Annual Report”). The following discussion may contain forward-looking statements that reflect our plans, estimates, and beliefs and involve risks, uncertainties, and assumptions. Our actual results could differ materially from those discussed in these forward-looking statements. Factors that could cause or contribute to these differences include those discussed within “Forward-Looking Statements” below and in Item 1A. Risk Factors and “Forward-Looking Statements” included within our 2025 Annual Report. Non-GAAP Financial Measures While we report financial results in accordance with GAAP, this discussion also includes non-GAAP measures. These non-GAAP measures are referred to as “adjusted” or “organic” and exclude items which are considered by the Company as unusual or non-recurring, and which may have a disproportionate positive or negative impact on the Company’s financial results in any particular period. Reconciliations of non-GAAP measures are included within this Management’s Discussion and Analysis of Financial Condition and Results of Operations. This non-GAAP information is provided as a supplement to, not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. We use this non-GAAP information, including adjusted gross margin, adjusted selling general and administrative (“SG&A”), adjusted operating income, adjusted EBIT (as defined below), adjusted effective tax rate, adjusted net earnings, and adjusted diluted net earnings, internally to make operating decisions and believe it is helpful to investors because it allows more meaningful period-to-period comparisons of ongoing operating results. We view the use of non-GAAP measures that exclude the impact of these unique events as particularly valuable in understanding our underlying operational results and providing insights into future performance. The information can also be used to perform trend analysis and to better identify operating trends that may otherwise be masked or distorted by the types of items that are excluded. This non-GAAP information is also a component in determining management’s incentive compensation. Finally, we believe this information provides more transparency. The following provides additional detail on our non-GAAP measures for the periods presented: •We analyze net sales and segment profit on an organic basis to better measure the comparability of results between periods. Organic net sales and organic segment profit exclude the impact of changes in foreign currency translation. •Segment profit is impacted by fluctuations in translation and transactional foreign currency. The impact of currency was applied to segments using management’s best estimate. All comparisons are with the same period in the prior year, unless otherwise noted. Industry and Market Data Unless we indicate otherwise, we base the information contained or incorporated by reference herein, concerning our industry on our general knowledge and expectations. Our market position, market share, and industry market size are estimates based on internal and external data from various industry analyses, our internal research and adjustments, and assumptions that we believe to be reasonable. We have not independently verified data from industry analyses and cannot guarantee its accuracy or completeness. In addition, we believe that industry, market size, market position and market share data within our industry provides general guidance but is inherently imprecise and has not been verified by any independent source. Further, our estimates and assumptions involve risks and uncertainties and are subject to change based on various factors, including those discussed in Item 1A. Risk Factors in Part I of our 2025 Annual Report. These and other factors could cause results to differ materially from those expressed in the estimates and assumptions. You are cautioned not to place undue reliance on this data. Retail sales for purposes of market size, market position and market share information are based on measured retail sales in United States dollars. Trademarks and Trade Names We own or have rights to use trademarks and trade names that we use in conjunction with the operation of our business, which appear throughout this Quarterly Report on Form 10-Q. We may also refer to brand names, trademarks, service marks and trade names of other companies and organizations, which are the property of their respective owners. Executive Summary Feminine Care Divestiture On February 2, 2026, we closed the transaction and received proceeds of approximately $340 on a cash-free and debt-free basis. In connection with closing of the transaction, we and Essity entered into a transition services agreement for the provision of certain services to support the transition of the Feminine Care segment following the closing. The divestiture of the Feminine Care segment is a key step to transform Edgewell into a more focused, agile and consumer-driven personal care company. The former Feminine Care segment’s results are presented as discontinued operations on a retrospective basis for the three and nine months ended June 30, 2026 and 2025. All amounts, percentages and disclosures for all periods presented reflect only the continuing operations of Edgewell unless otherwise noted. Third Quarter of Fiscal 2026 The following is a summary of results from continuing operations for the third quarter and first nine months of fiscal 2026, as compared to the corresponding periods in fiscal 2025. In addition to net sales, net earnings (loss) from continuing operations and earnings per share (“EPS”) from continuing operations for the periods presented were also impacted by certain costs or income, as described in the table below. The impact of these items on reported net earnings (loss) from continuing operations and EPS from continuing operations are provided as a reconciliation of net earnings (loss) from continuing operations and EPS from continuing operations to adjusted net earnings from continuing operations and adjusted diluted EPS from continuing operations, both of which are non-GAAP measures. •Net sales in the third quarter of fiscal 2026 increased $9.7, or 1.7%, to $570.1, as compared to the prior year quarter. Organic net sales increased $6.1, or 1.1%, reflecting a return to growth in North America, partially offset by lower sales in international markets. North America net sales increased 3.0%, driven by volume growth across Sun, Skin Care and Grooming, reflecting improving execution, increased distribution and continued strength across several of the Company's priority brands. International organic sales declined 1.4%, primarily reflecting temporary disruption associated with the conflict in the Middle East and short-term supply chain impacts related to the Company's Wet Shave manufacturing consolidation, partially offset by growth in Grooming and several key international markets. •Net earnings from continuing operations in the third quarter of fiscal 2026 were $12.3 compared to $21.5 in the prior year quarter. On an adjusted basis, net earnings from continuing operations for the third quarter of fiscal 2026 were $33.5 compared to $33.6 in the prior year quarter. Adjusted net earnings decreased primarily due to lower gross margin and higher operating expenses. •Diluted net earnings per share from continuing operations during the third quarter of fiscal 2026 were $0.26 compared to $0.46 in the prior year quarter. On an adjusted basis, diluted net earnings from continuing operations per share during the third quarter of fiscal 2026 were $0.72 compared to $0.72 in the prior year quarter. Three Months Ended June 30, 2026 Gross Profit SG&A Operating Income EBIT (Loss) from Continuing Operations (1) Income Tax Provision (Benefit) from Continuing Operations Net (Loss) Income from Continuing Operations Diluted EPS from Continuing Operations GAAP — Reported $ 242.5 $ 108.3 $ 25.0 $ 18.0 $ 5.7 $ 12.3 $ 0.26 Restructuring and related costs 11.2 (0.6) 24.5 24.5 6.0 18.5 0.40 Sun Care reformulation costs — — 0.7 0.7 0.1 0.6 0.01 Commercial realignment (0.2) — (0.2) (0.2) (0.1) (0.1) — Other project and related costs 0.1 (2.9) 3.0 3.0 0.8 2.2 0.05 Total Adjusted Non-GAAP $ 253.6 $ 104.8 $ 53.0 $ 46.0 $ 12.5 $ 33.5 $ 0.72 GAAP as a percent of net sales 42.5 % 19.0 % 4.4 % GAAP effective tax rate 31.5 % Adjusted as a percent of net sales 44.5 % 18.4 % 9.3 % Adjusted effective tax rate 27.2 % Three Months Ended June 30, 2025 Gross Profit SG&A Operating Income EBIT (Loss) from Continuing Operations (1) Income Tax Provision (Benefit) from Continuing Operations Net (Loss) Income from Continuing Operations Diluted EPS from Continuing Operations GAAP — Reported $ 250.1 $ 100.7 $ 45.0 $ 28.5 $ 7.0 $ 21.5 $ 0.46 Restructuring and related costs 1.2 (0.6) 16.7 16.7 4.1 12.6 0.27 Sun Care reformulation costs — — 0.5 0.5 0.1 0.4 0.01 Commercial realignment (0.1) — (0.1) (0.1) — (0.1) — Other project and related costs — (1.5) 1.5 (1.2) (0.4) (0.8) (0.02) Total Adjusted Non-GAAP $ 251.2 $ 98.6 $ 63.6 $ 44.4 $ 10.8 $ 33.6 $ 0.72 GAAP as a percent of net sales 44.6 % 18.0 % 8.0 % GAAP effective tax rate 24.5 % Adjusted as a percent of net sales 44.8 % 17.6 % 11.3 % Adjusted effective tax rate 24.3 % (1) EBIT is defined as Earnings before Income taxes. First Nine Months of Fiscal 2026 •Net sales for the first nine months of fiscal 2026 increased $20.3, or 1.4%, to $1,512.4, including a $28.7, or 2.0% favorable impact due to currency movements. Organic net sales decreased $8.4, or 0.6%. Organic sales in North America declined 0.4% driven primarily by lower volumes in Wet Shave and Skin Care, partially offset by volume growth in Grooming and Sun Care. Organic sales in International markets declined 0.7% largely driven by lower volumes in Sun Care, partially offset by favorable pricing in Wet Shave. •Net earnings (loss) from continuing operations for the first nine months of fiscal 2026 decreased $45.0, or 140.2%, to $(12.9). On an adjusted basis, net earnings from continuing operations for the first nine months of fiscal 2026 decreased $8.2, or 13.2%, to $53.7. Adjusted net earnings from continuing operations decreased primarily due to lower gross profit and higher operating expenses, partially offset by higher sales and lower interest expense. •Diluted net earnings (loss) per share from continuing operations during the first nine months of fiscal 2026 was $(0.28) compared to $0.67 in the prior year period. On an adjusted basis, as illustrated in the table below, net earnings per diluted share from continuing operations during the first nine months of fiscal 2026 were $1.15 compared to $1.28 in the prior year period. Nine Months Ended June 30, 2026 Gross Profit SG&A Operating Income EBIT (Loss) from Continuing Operations (1) Income Tax Provision (Benefit) from Continuing Operations Net (Loss) Income from Continuing Operations Diluted EPS from Continuing Operations GAAP — Reported $ 620.4 $ 321.7 $ 24.5 $ (11.0) $ 1.9 $ (12.9) $ (0.28) Restructuring and related costs 25.7 (1.4) 71.9 71.9 17.7 54.2 1.17 Sun Care reformulation costs — — 3.4 3.4 0.8 2.6 0.06 Legal matters — (5.7) 5.7 5.7 1.4 4.3 0.09 Gain on investment — — — (1.5) (0.3) (1.2) (0.03) Commercial realignment (0.2) — (0.2) (0.2) (0.1) (0.1) — Other project and related costs 0.1 (5.1) 5.2 4.5 1.1 3.4 0.07 Tax shortfall on equity compensation — — — — (3.4) 3.4 0.07 Total Adjusted Non-GAAP $ 646.0 $ 309.5 $ 110.5 $ 72.8 $ 19.1 $ 53.7 $ 1.15 GAAP as a percent of net sales 41.0 % 21.3 % 1.6 % GAAP effective tax rate (17.0) % Adjusted as a percent of net sales 42.7 % 20.5 % 7.3 % Adjusted effective tax rate 26.3 % Nine Months Ended June 30, 2025 Gross Profit SG&A Operating Income EBIT (Loss) from Continuing Operations (1) Income Tax Provision (Benefit) from Continuing Operations Net (Loss) Income from Continuing Operations Diluted EPS from Continuing Operations GAAP — Reported $ 659.4 $ 303.1 $ 103.2 $ 47.1 $ 15.0 $ 32.1 $ 0.67 Restructuring and related costs 1.2 (0.6) 32.7 32.7 8.0 24.7 0.50 Acquisition and integration costs — (0.5) 0.5 0.5 0.1 0.4 0.01 Sun Care reformulation costs — — 2.2 2.2 0.5 1.7 0.04 Gain on investment — — — (0.9) — (0.9) (0.02) Commercial realignment 3.0 — 3.0 3.0 0.9 2.1 0.04 Other project and related costs — (3.9) 3.9 2.4 0.6 1.8 0.04 Total Adjusted Non-GAAP $ 663.6 $ 298.1 $ 145.5 $ 87.0 $ 25.1 $ 61.9 $ 1.28 GAAP as a percent of net sales 44.2 % 20.3 % 6.9 % GAAP effective tax rate 31.7 % Adjusted as a percent of net sales 44.5 % 20.0 % 9.8 % Adjusted effective tax rate 28.8 % Operating Results The following table presents changes in net sales for the third quarter and first nine months of fiscal 2026, as compared to the corresponding periods in fiscal 2025, and provides a reconciliation of organic net sales to reported amounts. Net Sales Net Sales - Total Company Period Ended June 30, 2026 Q3 % Chg Nine Months % Chg Net sales - fiscal 2025 $ 560.4 $ 1,492.1 Organic 6.1 1.1 % (8.4) (0.6) % Impact of currency 3.6 0.6 % 28.7 2.0 % Net sales - fiscal 2026 $ 570.1 1.7 % $ 1,512.4 1.4 % For the third quarter of fiscal 2026, net sales increased 9.7, or 1.7%, to $570.1, including a $3.6, or 0.6%, favorable impact from currency movements, as compared to the prior year quarter. Organic net sales increased $6.1, or 1.1%, reflecting a return to growth in North America, partially offset by lower sales in international markets. North America organic sales increased 3.0%, driven by volume growth across Sun, Skin Care and Grooming, reflecting improving execution, increased distribution and continued strength across several of the Company's priority brands. International organic sales declined 1.4%, primarily reflecting temporary disruption associated with the conflict in the Middle East and short-term supply chain impacts related to the Company's Wet Shave manufacturing consolidation, partially offset by growth in Grooming and several key international markets. For the first nine months of fiscal 2026, net sales were $1,512.4, an increase of $20.3, or 1.4%, including a $28.7, or 2.0%, favorable impact from currency movements. Organic net sales increased $8.4, or 0.6%. Organic sales in North America declined 0.4% driven primarily by lower volumes in Wet Shave and Skin Care, partially offset by volume growth in Grooming and Sun Care. Organic sales in International markets declined 0.7% largely driven by lower volumes in Sun Care, partially offset by favorable pricing in Wet Shave. Gross Profit Gross profit was $242.5 during the third quarter of fiscal 2026, compared to $250.1 in the prior year quarter, a decrease of $7.6, or 3.0%. Gross margin as a percent of net sales for the third quarter of fiscal 2026 decreased 210-basis points, to 42.5%. Adjusted gross margin, as a percent of net sales, decreased 30-basis points. Productivity savings of approximately 200-basis points and 40-basis points of favorable currency movements were more than offset by 160-basis points of core inflation and net tariffs and 110-basis points of unfavorable mix and promotional levels (net of pricing). Gross profit was $620.4 during the first nine months of fiscal 2026, compared to $659.4 in the prior year period, a decrease of $39.0, or 5.9%. Gross margin as a percent of net sales for the first nine months of fiscal 2026 decreased 320-basis points, to 41.0%. Adjusted gross margin as a percent of net sales decreased 180-basis points, to 42.7%. Productivity savings of approximately 220-basis points and 20-basis points of favorable foreign currency were more than offset by 320-basis points of core inflation, volume absorption and net tariffs and 100-basis points of unfavorable mix and promotional levels (net of pricing). Selling, General and Administrative Expense Selling, general and administrative (“SG&A”) expense was $108.3, or 19.0%, of net sales in the third quarter of fiscal 2026 compared to $100.7, or 18.0%, of net sales in the prior year quarter. Adjusted SG&A was 18.4% of net sales, compared to 17.6% in the prior year quarter, which was primarily driven by higher incentive compensation expense and unfavorable currency impacts in the current year, partly offset by lower people and consulting expenses. SG&A expense was $321.7, or 21.3%, of net sales in the first nine months of fiscal 2026 compared to $303.1, or 20.3%, of net sales in the prior year period. Adjusted SG&A was $309.5, or 20.5% of net sales, an increase of 50-basis points, which was primarily driven by higher incentive compensation expense and higher consulting expenses. Advertising and Sales Promotion Expense Advertising and sales promotion (“A&P”) expense for the third quarter of fiscal 2026 was $83.2, an increase of $7.2, or 9.5%, compared to $76.0 in the prior year quarter. A&P was 14.6% of net sales, compared to 13.6% in the prior year quarter. A&P expense for the first nine months of fiscal 2026 was $187.4, an increase of $5.4, or 3.0%, compared to $182.0 in the prior year period. A&P was 12.4% of net sales, compared to 12.2% in the prior year period. Research and Development Expense Research and development (“R&D”) expense for the third quarter of fiscal 2026 was $13.3, a decrease of $0.2, or 1.5%, compared to $13.5 in the prior year quarter. As a percentage of net sales, R&D expense was 2.3% in the third quarter of fiscal 2026, compared to 2.4% in the prior year quarter. R&D expense for the first nine months of fiscal 2026 was $42.0, an increase of $1.8, or 4.5%, compared to $40.2 in the prior year period. As a percentage of net sales, R&D expense was 2.8% in the first nine months of fiscal 2026, compared to 2.7% in the prior year period. Restructuring and Related Charges In fiscal 2026, the Company continues to take specific actions to strengthen its operating model, simplify the organization and improve manufacturing and supply chain efficiency through restructuring actions, including streamlining the Company’s operations and supply chain by consolidating its Mexico facilities and Wet Shave operations. As a result of these actions, we expect to incur pre-tax charges of approximately $92 in fiscal 2026. We incurred $12.7 and $14.9 during the third quarter of fiscal 2026 and 2025, respectively, and $44.8 and $30.9 during the first nine months of fiscal 2026 and 2025, respectively. Other restructuring related charges of $11.2 and $25.7 were recorded in costs of products sold in the third quarter and first nine months of fiscal 2026, respectively, and $0.6 and $1.4 were recorded in selling, general and administrative expense in the third quarter and first nine months of fiscal 2026, respectively. Other restructuring related charges of $1.2 was recorded in costs of products sold in both the third quarter and first nine months of fiscal 2025 and $0.6 was recorded in selling, general and administrative expense in both the third quarter and first nine months of fiscal 2025. See Note 3 to the Condensed Consolidated Financial Statements for additional information. Interest Expense Associated with Debt Interest expense associated with debt for the third quarter of fiscal 2026 was $16.7, a decrease of $2.7, or 13.9%, compared to $19.4 in the prior year quarter. The decrease in interest expense was the result of lower borrowing levels on the Company’s Revolving Credit Facility due to the paydown of the facility with the proceeds from the Feminine Care divestiture. Interest expense associated with debt for the first nine months of fiscal 2026 was $53.9, a decrease of $4.5, or 7.7%, compared to $58.4 in the prior year period. The decrease in interest expense was the result of lower borrowing levels on the Company’s Revolving Credit Facility due to the paydown of the facility with the proceeds from the Feminine Care divestiture. Other (income) expense, net Other (income) expense, net, was income of $9.7 in the third quarter of fiscal 2026, compared to income of $2.9 in the prior year quarter. The current year quarter included $7.7 million of Transition Services Agreement (“TSA”) income and the prior year quarter included $2.7 of other project gains. Currency hedge and remeasurements gains were $0.6 million in the current quarter, compared to a gain of $1.1 million in the prior year quarter. Adjusted other (income) expense, net was $(9.7) compared to $(0.2) in the prior year quarter. Other (income) expense, net, was income of $18.4 in the first nine months of fiscal 2026 compared to income of $2.3 in the prior year period. The first nine months of fiscal 2026 included $14.4 of TSA income and the prior year period included $1.5 of other project gains. Currency hedge and remeasurements losses were $1.1 million in the current period, compared to a gain of $1.4 million in the prior year period. Adjusted other (income) expense, net was $(16.2) compared to $0.1 in the prior year period. Income Taxes from Continuing Operations The continuing operations effective tax rate for the third quarter of fiscal 2026, was 31.5%, compared to 24.5% in the prior year quarter. The fiscal 2026 effective tax rate reflects an unfavorable mix of earnings in higher tax rate jurisdictions and more unusual items resulting in a larger tax expense compared to fiscal 2025. On an adjusted basis, the effective tax rate was 27.2% for the third quarter of fiscal 2026, and 24.3% in the prior year quarter. The continuing operations effective tax rate for the first nine months of fiscal 2026, was (17.0)%, as compared to 31.7% in the prior year period. The current year period reflects a tax expense on a loss. The fiscal 2026 effective tax rate reflects more favorable discrete and unusual items compared to fiscal 2025. On an adjusted basis, the effective tax rate was 26.3% down from the prior year period adjusted effective tax rate of 28.8%. Earnings (loss) from discontinued operations, net of tax Earnings (loss) from discontinued operations, net of tax includes the results of the Feminine Care business. The income of $1.4 in the third quarter of fiscal 2026 primarily includes the impact of tax related charges from the completion of the Feminine Care divestiture. The loss of $49.7 in the first nine months of 2026 also includes the impact of the goodwill impairment charge of $37.4 recorded during the first quarter of fiscal 2026. Segment Results The following tables present changes in segment net sales and segment profit for the third quarter and first nine months of fiscal 2026, compared to the corresponding period in fiscal 2025, and provide a reconciliation of organic segment net sales and organic segment profit to reported amounts. For a reconciliation of segment profit to Earnings (loss) from continuing operations before income taxes, refer to Note 18 of Notes to Condensed Consolidated Financial Statements. Our operating model includes some shared business functions across segments, including product warehousing and distribution, transaction processing functions and, in most cases, a combined sales force and management teams. We apply a fully allocated cost basis in which shared business functions are allocated between segments. Certain indirect expenses for corporate overhead costs previously allocated to the Fem Care segment have not been reallocated to the Wet Shave or Sun and Skin Care segments. Wet Shave Net Sales - Wet Shave Period Ended June 30, 2026 Q3 % Chg Nine Months % Chg Net sales - fiscal 2025 $ 317.0 $ 897.0 Organic (6.1) (1.9) % (19.8) (2.2) % Impact of currency 1.9 0.6 % 21.0 2.3 % Net sales - fiscal 2026 $ 312.8 (1.3) % $ 898.2 0.1 % Wet Shave net sales for the third quarter of fiscal 2026 were $312.8, a decrease of $4.2, or 1.3%, as compared to the prior year quarter, including a $1.9, or 0.6%, favorable impact from currency. Organic net sales decreased $6.1, or 1.9%, as growth in the branded business was more than offset by lower Private Label sales, related to temporary supply constraints in North America and certain international markets. In aggregate, a decrease in organic sales was related to a 2.8% decline in North America, and a decrease of 1.4% in International sales. Wet Shave net sales for the first nine months of fiscal 2026 were $898.2, an increase of $1.2, or 0.1%, as compared to the prior year period, including a $21.0, or 2.3%, favorable impact from currency. Organic net sales decreased $19.8, or 2.2%, as international markets grew 0.3%, driven by higher price and North America organic sales declined by 5.7% due to lower volumes. Segment Profit - Wet Shave Period Ended June 30, 2026 Q3 % Chg Nine Months % Chg Segment profit - fiscal 2025 $ 44.1 $ 137.3 Organic (10.9) (24.7) % (36.4) (26.5) % Impact of currency 1.7 3.8 % 5.1 3.7 % Segment profit - fiscal 2026 $ 34.9 (20.9) % $ 106.0 (22.8) % Wet Shave segment profit for the third quarter of fiscal 2026 was $34.9, a decrease of $9.2, or 20.9%, and inclusive of a $1.7, or 3.8%, favorable impact from currency. Organic segment profit decreased $10.9, or 24.7%, excluding the impact of foreign currency, as higher SG&A and marketing expenses, were partially offset by higher gross margins. Wet Shave segment profit for the first nine months of fiscal 2026 was $106.0, a decrease of $31.3, or 22.8%, and inclusive of a $5.1, or 3.7%, favorable impact from currency. Organic segment profit decreased $36.4, or 26.5%, due to lower gross margin and higher SG&A. Sun and Skin Care Net Sales - Sun & Skin Care Period Ended June 30, 2026 Q3 % Chg Nine Months % Chg Net sales - fiscal 2025 $ 243.4 $ 595.1 Organic 12.2 5.0 % 11.4 1.9 % Impact of currency 1.7 0.7 % 7.7 1.3 % Net sales - fiscal 2026 $ 257.3 5.7 % $ 614.2 3.2 % Sun and Skin Care net sales for the third quarter of fiscal 2026 increased $13.9, or 5.7%, as compared to the prior year quarter, including a favorable impact from foreign currency of $1.7, or 0.7%. Organic net sales increased $12.2, or 5.0%, driven by mid-single digit growth in Sun Care in North America and strong global Grooming and Skin Care performance, partly offset by Sun Care declines in international markets. In aggregate, an increase in organic sales was related to a 7.1% decline in North America , partially offset by an increase of 0.7% in International sales. Sun and Skin Care net sales for the first nine months of fiscal 2026 were $614.2, an increase of $19.1, or 3.2%, as compared to the prior year period, including a favorable impact from foreign currency of $7.7, or 1.3%. Organic net sales increased $11.4, or 1.9%, driven by strong performance in Grooming and Sun Care in North America, partially offset by Sun Care declines in international markets. In aggregate, an increase in organic sales was related to a 8.7% decrease in North America, partially offset by an increase of 2.9% decline in International sales. Segment Profit - Sun & Skin Care Period Ended June 30, 2026 Q3 % Chg Nine Months % Chg Segment profit - fiscal 2025 $ 46.0 $ 93.4 Organic (0.7) (1.6) % (6.3) (6.8) % Impact of currency 0.9 2.0 % 2.4 2.6 % Segment profit - fiscal 2026 $ 46.2 0.4 % $ 89.5 (4.2) % Sun and Skin Care segment profit for the third quarter of fiscal 2026 was $46.2, an increase of $0.2, or 0.4%, as compared to the prior year quarter, including a favorable impact from foreign currency of $0.9, or 2.0%. Organic segment profit decreased $0.7, or 1.6%, driven by higher marketing and SG&A expenses, partially offset by higher gross profit. Sun and Skin Care segment profit for the first nine months of fiscal 2026 was $89.5, a decrease of $3.9, or 4.2%, as compared to the prior year period, including a favorable impact from foreign currency of $2.4, or 2.6%. Organic segment profit decreased $6.3, or 6.8%, driven by higher SG&A and marketing expenses. General Corporate and Other Expenses Three Months Ended June 30, Nine Months Ended June 30, 2026 2025 2026 2025 General corporate and other expenses $ (21.9) $ (19.9) $ (66.0) $ (65.9) Amortization of intangibles (6.2) (6.4) (19.0) (19.2) Interest and other expense, net (7.0) (19.3) (37.7) (58.6) Restructuring and related costs (24.5) (16.8) (71.9) (32.7) Acquisition and integration costs — — — (0.5) Sun Care reformulation costs (0.7) (0.5) (3.4) (2.2) Legal matters — — (5.7) — Gain on investment — — 1.5 0.9 Commercial realignment 0.2 0.1 0.2 (3.0) Other project and related costs (3.0) 1.2 (4.5) (2.4) General corporate and other expenses $ (63.1) $ (61.6) $ (206.5) $ (183.6) % of net sales (11.1) % (11.0) % (13.7) % (12.3) % For the third quarter of fiscal 2026 and 2025, corporate expenses were $63.1, or 11.1%, of net sales, compared to $61.6, or 11.0% in the prior year quarter. For the first nine months of fiscal 2026, corporate expenses were $206.5, or 13.7%, of net sales, compared to $183.6, or 12.3% in the prior year period. During both the third quarter and first nine months of fiscal 2026, corporate expenses increased primarily related higher incentive compensation, partially offset by lower people costs. During the third quarter and first nine months of fiscal 2026, we recorded TSA income of $7.7 and $14.4 in Interest and other expense, net. During the first nine months of fiscal 2026, we recorded charges of $5.7 related to legal matters. During the first nine months of fiscal 2026 and 2025, we recorded gains of $1.5 of $0.9, respectively, for the fair value measurement of an equity method investment. Liquidity and Capital Resources At June 30, 2026, we had cash of $397.1, a significant portion of which was located outside the U.S. Given our extensive international operations, a significant portion of our cash is denominated in foreign currencies. Refer to Note 16 of Notes to Condensed Consolidated Financial Statements for a discussion of the primary currencies to which the Company is exposed. We manage our worldwide cash requirements by reviewing available funds among the many subsidiaries through which we conduct business and the cost effectiveness with which those funds can be accessed. We generally repatriate a portion of current year earnings from select non-U.S. subsidiaries only if the economic cost of the repatriation is not considered material. Our cash is deposited with multiple counterparties which consist of major financial institutions. We consistently monitor positions with, and credit ratings of, counterparties both internally and by using outside ratings agencies. Our total borrowings as of June 30, 2026 and September 30, 2025 were as follows: Interest Type Currency June 30, 2026 September 30, 2025 Long-term notes fixed USD $ 1,250.0 $ 1,250.0 Revolver loans borrowed under credit facility variable USD — 140.0 Short-term notes payable variable various 34.2 29.5 Total borrowings $ 1,284.2 $ 1,419.5 Our Revolver utilization is summarized below. June 30, 2026 September 30, 2025 Total Revolver Capacity $ 425.0 $ 425.0 Less: Revolver Borrowings — 140.0 Less: Outstanding Letters of Credit 6.2 5.5 Revolver Balance Available $ 418.8 $ 279.5 As noted above, on February 2, 2026, we closed on the sale of our Feminine Care segment to Essity. We used proceeds from this sale to repay all outstanding borrowings under our U.S. Revolving Credit Facility. The remaining proceeds are expected to be used for continued investment in our core brands, capital expenditures and other growth initiatives. We estimate approximately $55 of cash taxes to be paid in fiscal 2026 on the tax gain from the sale. Historically, we have generated, and expect to continue to generate, favorable cash flows from operations. Our cash flows are affected by the seasonality of our Sun Care business, typically resulting in higher net sales and increased cash generated in the second and third quarter of each fiscal year. We believe our cash on hand, including remaining proceeds from the sale of our Feminine Care segment, cash flows from operations and borrowing capacity under the Revolving Credit Facility will be sufficient to satisfy our future working capital requirements, interest payments, R&D activities, capital expenditures, and other capital requirements for at least the next 12 months. We will continue to monitor our cash flows, spending and liquidity needs. For more information on the U.S. Revolving Credit Facility and our other debt, see Note 11 to the Notes To Condensed Consolidated Financial Statements and Note 13 of the Notes to Consolidated Financial Statements in our 2025 Annual Report. Short-term financing needs primarily consist of working capital requirements and interest payments on our long-term debt. Long-term financing needs will depend largely on potential growth opportunities, including acquisition activity and repayment or refinancing of our long-term debt obligations. Our long-term liquidity may be influenced by our ability to borrow additional funds, renegotiate existing debt, and raise equity under terms that are favorable to us. We may, from time to time, seek to repurchase shares of our common stock. Such repurchases, if any, will depend on prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. As of June 30, 2026, we were in compliance with the provisions and covenants associated with our debt agreements. Cash Flows A summary of our cash flow from operating, investing and financing activities is provided in the following table: Nine Months Ended June 30, 2026 2025 Net cash provided by (used for): Operating activities $ 47.1 $ 44.3 Investing activities 301.0 (45.3) Financing activities (174.7) (10.9) Effect of exchange rate changes on cash (2.0) 2.4 Net increase (decrease) in cash and cash equivalents $ 171.4 $ (9.5) Operating Activities Cash flow provided by operating activities was $47.1 during the first nine months of fiscal 2026, as compared to $44.3 during the prior year period. The increase in cash provided by operating activities in the first nine months of fiscal 2026 was driven by changes in net working capital. Investing Activities Cash flow provided by investing activities was $301.0 during the first nine months of fiscal 2026 as compared to cash used for investing activities of $45.3 during the prior year period. The increase in cash provided by investing activities was primarily related to proceeds received from the sale of our Feminine Care segment of 338.9 and a decrease in capital expenditures which were $41.2 during the first nine months of fiscal 2026, compared to $49.4 in the prior year period. Financing Activities Net cash used for financing activities was $174.7 during the first nine months of fiscal 2026 as compared to $10.9 during the prior year period. During the first nine months of fiscal 2026, we had net payments of $140.0 under the Revolving Credit Facility, compared to net proceeds of $96.0 in the prior year period. Dividend payments totaled $21.5 during the first nine months of fiscal 2026, compared to $22.4 in the prior year period. We had $15.8 share repurchases in the first nine months of fiscal 2026, compared to $90.2 in the prior year period. Share Repurchases On November 13, 2025, the Board approved an authorization to repurchase for up to $100.0, superseding the previous share repurchase authorization from January 2018, when the Board approved an authorization to repurchase up to 10.0 shares of the Company's common stock. Any future share repurchases, if any, would be made in the open market, privately negotiated transactions or otherwise permitted, and in such amounts and at such times as the Company deems appropriate based upon prevailing market conditions, business needs and other factors. During the first nine months of fiscal 2026, we repurchased 0.7 shares at a total cost of $15.1. $84.9 remains available for repurchase in the future under the Board’s authorization. For more information, see Note 14 of the Notes to Condensed Consolidated Financial Statements. Dividends The following is a summary of cash dividends paid and declared per share on our common stock during the year ended June 30, 2026: Date Declared Record Date Payable Date Amount Per Share August 5, 2025 September 4, 2025 October 8, 2025 $ 0.15 November 13, 2025 December 3, 2025 January 8, 2026 $ 0.15 February 5, 2026 March 6, 2026 April 8, 2026 $ 0.15 May 6, 2026 June 10, 2026 July 9, 2026 $ 0.15 On August 5, 2026, the Board declared a quarterly cash dividend of $0.15 per share of common stock for the third fiscal quarter of 2026. The dividend will be paid on October 8, 2026 to shareholders of record as the close of business on September 9, 2026. Dividends declared during the nine months ended June 30, 2026 totaled $22.0. Payments made for dividends during the nine months ended June 30, 2026 totaled $21.5. Our ability to pay cash dividends on our common stock depends on, among other things, our results of operations, financial condition, level of indebtedness, capital requirements, contractual restrictions, restrictions in our debt agreements and in any preferred stock, restrictions under applicable law, our business prospects and other factors that our Board of Directors may deem relevant. Our approach to dividends has certain risks and limitations, particularly with respect to liquidity, and we may not pay future dividends consistent with our historical practice, or at all. Commitments and Contingencies Contractual Obligations As of June 30, 2026, we had no outstanding borrowings under the U.S. Revolving Credit Facility, which matures in 2029. As noted above, following the closing of the sale of the Feminine Care segment, we repaid all outstanding borrowings under the U.S. Revolving Credit Facility. As of June 30, 2026, future minimum repayments of fixed debt are: $750.0 in fiscal 2028 and $500.0 in fiscal 2029. There have been no other material changes in our contractual obligations since the presentation in our 2025 Annual Report. Other Matters On February 20, 2026 the U.S. Supreme Court ruled that certain tariffs imposed under the International Emergency Economic Powers Act (IEEPA) by the executive branch are not lawful, but did not provide guidance on how importers may claim refunds of IEEPA tariffs previously paid. On March 4, 2026, the Court of International Trade (CIT) issued an additional ruling that importers that paid tariffs under IEEPA are due refunds and ordered U.S. Customs and Border Protection (CBP) to begin the refund process for all importers who were subject to IEEPA duties. For the three months ended June 30, 2026, the Company recognized $5.3 in costs of products sold in the Condensed Consolidated Statements of Earnings and Comprehensive Income reflecting the amount of cash received during the quarter related to IEEPA tariff refunds. As of June 30, 2026, the Company has not recognized an asset related to the potential for additional refunds of IEEPA tariffs paid. The ultimate availability, timing and amount of any potential refunds of such tariffs is highly uncertain and are subject to further legal, regulatory and administrative developments. The Company will continue to evaluate new information and will recognize the refund when the requirements under ASC 450, Contingencies, have been met. In the nine months ended June 30, 2026, we recorded a $5.7 charge related to an offer to settle certain claims and disputes in connection with a former contract manufacturing agreement. Recent Accounting Pronouncements Information regarding new accounting pronouncements is included in Note 1 of the Notes to Condensed Consolidated Financial Statements. Critical Accounting Estimates Our critical accounting estimates are fully described in our 2025 Annual Report. The preparation of these financial statements requires us to make estimates and assumptions. These estimates and assumptions can be subjective and complex, and consequently, actual results could differ from those estimates. As of June 30, 2026, there have been no significant changes to our critical accounting estimates disclosed in our 2025 Annual Report.