SPB

• Net loss from continuing operations of $20.3 million, down $40.8 million from income of $20.5 million, including a one-time non-cash impairment charge on HPC business related to Oaktree investment.
• Adjusted EBITDA of $158.3 million, up $81.7 million (106.7%); excluding $60.6 million IEEPA tariff refunds, adjusted EBITDA was $97.7 million, up 27.5%.
• Adjusted diluted EPS from continuing operations was $2.79, up from $1.24; tariff refunds contributed $1.90 net of tax, and excluding them adjusted EPS was $0.89.
• Fiscal 2026 framework updated: net sales expected flat to up low single digits; adjusted EBITDA (excluding tariff refunds) raised to up mid single digits; ~50% conversion of adjusted EBITDA to adjusted free cash flow (excluding tariff refunds).

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Stockholders elected six directors: Sherianne James, Leslie L. Campbell, Hugh R. Rovit, Gautam Patel, David M. Maura, and Terry L. Polistana, each for a one-year term.
• The appointment of KPMG LLP as independent registered public accounting firm for fiscal year ending September 30, 2026 was ratified with 99.46% approval.
• The advisory vote on named executive officer compensation was approved with 97.56% of votes cast in favor.
• The report was filed under Item 5.07 to disclose the results of matters submitted to a vote of security holders.

5.07 Submission of Matters to a Vote of Security Holders

• Fiscal Q2 2026 (ended March 29, 2026) net sales were $708.9 million, up 4.9% from $675.7 million a year ago.
• Adjusted EBITDA from continuing operations was $84.0 million, up 17.8% from $71.3 million; adjusted EPS was $1.25, up from $0.68.
• Company updated fiscal 2026 framework: net sales expected flat to up low single digits, adjusted EBITDA now expected up low to mid single digits, and approximately 50% conversion of adjusted EBITDA to adjusted free cash flow.
• Entered a strategic partnership with Oaktree Capital Management involving a $127 million cash investment in the Home & Personal Care business; company will retain approximately 73% ownership of the Appliances business.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• The investment includes $67 million in convertible preferred equity and $60 million in a first lien term loan, both recourse only to the HPC business.
• The preferred equity accrues dividends at 8.0% per annum compounded quarterly; the term loan bears interest at SOFR plus 5.50% or base rate plus 4.50%.
• The transaction is expected to close on or about May 11, 2026, after which Oaktree will hold an approximately 27% equity stake in the HPC business.
• This investment advances Spectrum Brands' previously announced plan to separate the HPC business from its other operations.

8.01 Other Events · 9.01 Financial Statements and Exhibits

• Net income from continuing operations was $29.4 million, up 19.5% from $24.6 million; diluted EPS from continuing operations was $1.25, up 43.7%.
• Adjusted EBITDA from continuing operations was $62.6 million, down 19.5% from $77.8 million; adjusted EBITDA margin was 9.2%, down 190 basis points.
• The company repurchased 0.6 million shares for $36 million in Q1 and approved a new $300 million share repurchase authorization.
• The company reiterated its fiscal 2026 framework: net sales flat to up low single digits, low single digit growth in adjusted EBITDA, and approximately 50% conversion of adjusted EBITDA to adjusted free cash flow.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Fourth quarter net sales decreased 5.2% to $733.5 million, with organic net sales down 6.6%.
• Adjusted EBITDA from continuing operations was $63.4 million, down 8.0% from $68.9 million.
• Full year net sales decreased 5.2%, with net income from continuing operations of $100.2 million and adjusted EBITDA of $289.1 million.
• For fiscal 2026, the company expects flat to low single-digit net sales growth and low single-digit adjusted EBITDA growth.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Smeltser will remain a full-time employee until December 31, 2025, assisting with transition, and will receive severance including 18 months' base salary plus target bonus, pro-rata bonus, health benefits, and pro-rata vesting of certain equity awards.
• Faisal Qadir, previously Vice President of Strategic Finance and Enterprise Reporting, was appointed Executive Vice President and CFO effective September 3, 2025.
• Qadir's Fiscal 2026 compensation includes a $450,000 base salary, MIP target bonus of 75% (max 150%) of base salary, and LTIP target of 200% of base salary.
• Qadir's severance terms include 1.5 times base salary plus one times annual bonus, pro-rata bonus, 18 months' COBRA coverage, and pro-rata vesting of time-based equity awards, subject to release and restrictive covenants.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements

• Net income from continuing operations was $20.5 million, up $1.4 million from the prior year, while adjusted EBITDA fell 27.9% to $76.6 million.
• The sales decline was driven by stop shipments to certain retailers during pricing negotiations, tariff-related supply constraints, and softening demand in Global Pet Care and Home and Personal Care.
• The company reaffirmed its expectation of generating approximately $160 million of free cash flow in fiscal 2025, while continuing to suspend its fiscal 2025 earnings framework.
• The company repurchased 0.9 million shares in Q3 for $54.4 million, and 17.1 million shares since the HHI divestiture for $1.3 billion.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits