Exhibit 16(c)(xviii) Intersnack Group GmbH & Co. KG Projekt Go West – Net income Utz Brands, Inc. Düsseldorf, 13 February 2026 1

General comments Noncontrolling Interests Basis for net income projections Utz Brands group financial statements show large portion of ”Consensus estimates“ from financial analysts - e.g. presented Noncontrolling Interests (“NCI”) by Capital IQ or FactSet - for 2026 and 2027 available The impact at equity and net income level was as follows at Only selected P&L items presented – e.g. Adjusted Net Income year end 2022 to 2025: For following periods, extrapolation based on own assumptions required USDm 2022 2023 2024 2025 Total equity Utz Brands, Inc. Group 1.452 1.384 1.387 1.345 Adjustments Thereof NCI 749 714 685 631 in % 51,6% 51,6% 49,4% 46,9% “Reported Financial Measures” are substantially below “Non- Total net income Utz Brands, Inc. Group (14) (40) 31 (8) GAAP Financial Measures” due to adjustments Thereof NCI (14) (15) 15 (9) in % 97,1% 37,8% 48,2% 110,4% Reconciliations for selected KPIs (Gross Profit, Net income/loss and EBITDA) are requested by SEC and presented in the The NCIs stem from 2020 business combination of Utz Brands financial reporting Holdings, LLC (“UBH”) with Collier Creek Holdings (SPAC) Adjustments to EBITDA and Net Income were as follows in FYs structured as an Umbrella Partnership Corporation (“Up-C”) 2022 to 2025: transaction – see following slide They relate to minority ownerships in UBH - UBH is fully USDm 2022 2023 2024 2025 EBITDA - reported 92 99 183 123 consolidated in Utz Brands, Inc. group F/S Adjustments 79 88 17 94 Adjusted EBITDA 171 187 200 217 Net Income (incl. NCI) - Reported (14) (40) 31 (8) ➢ Treatment of the minority ownerships (i.e. Common Company Adjustments 92 121 80 125 Units) to be discussed in Go West transaction including tax Adjusted Net Income (incl. NCI) 78 81 110 117 (e.g. Tax Receivable Agreement - “TRA”) and corporate law Further adjustment analyses required to obtain more clarity issues regarding nature and to conclude on consideration in ➢ In DCF/capitalized earnings business valuations minority transaction context (esp. for future valuation of business) participations are “deducted” 2 2 Dieses Dokument ist vertraulich und die Weitergabe und Verbreitung ist untersagt. 2026 I-ADVISE AG

Umbrella Partnership Corporation („Up-C“) structure Utz Bands - Illustrative Utz Brands uses an “Up-C” structure in which the public company holds an interest in an operating partnership, enabling pre-IPO owners to retain tax advantages after the IPO and tap capital markets funding at the same time Tax Receivables Agreement Post-IPO corporate structure (simplified) (“TRA”): • the 2020 business (2) Exchange right 1:1 combination triggered a Class A common Class V common (1) step-up in the tax basis of stock shares stock shares Utz Brands, exchanges of Common Company Units Voting No in Class A shares have the and economic economic same impact rights but voting rights • The NCI holders are Exchange (2) entitled to 85% of the right 1:1 Pre-IPO Utz Brands, Inc. respective tax savings Owners (“PubCo“, • The respective payments (Rice family represent an obligation of former SPAC) et al) Utz Brands • The year end 2024 TRA No voting obligation totaled $48.3m, but economic of which $24.4m from rights in UBH initial business Utz Brands Common combination and $23.9m Holdings, LLC Company from equity transactions (3) = “NCI“ at (“OpCo“/UBH) Units (no 2025 data yet Utz Brands available) level ➢ Debt like item in Notes: transaction (1) Publicly traded Operating (2) Exchange of Common Company Units for Class A shares with subsidiaries forfeiture of Class V shares in the same number (3) Treated as partnership under US tax laws 3 3 Dieses Dokument ist vertraulich und die Weitergabe und Verbreitung ist untersagt. 2026 I-ADVISE AG This document is CONFIDENTIAL and its circulation and use are RESTRICTED. 2025 I-ADVISE AG

Overview Net Income Utz Brands, Inc. before Go West Net income reconciliations (before Go West) Est. Est. Est. USDm 2022 2023 2024 2025 2026 2027 2028 1.408,4 1.438,2 1.409,3 1.438,8 1.493,0 1.511,0 1.549,0 Net sales Net (loss) income - (incl. NCI) (14,0) (40,0) 30,7 (7,7) 16,7 24,7 36,7 Income Tax Expenses (Benefit) - reported (23,9) 0,8 38,7 7,1 5,3 7,8 11,6 Net (loss) income before taxes - EBT (37,9) (39,2) 69,4 (0,6) 22,0 32,5 48,3 EBITDA unadjusted 92,2 98,7 182,9 122,7 152,5 161,5 175,5 2) EBITDA Adjustments Certain Non-Cash Adjustments 11,3 50,7 21,9 26,8 27,7 27,7 27,7 45,8 8,6 (23,1) 22,8 13,5 Acquisition, Divestiture and Integration 13,5 13,5 Business Transformation Initiatives 22,1 31,0 28,1 65,4 36,7 36,7 36,7 Financing-Related Costs 0,3 0,2 0,4 1,6 0,6 0,6 0,6 Gain on remeasurement of warrant liability (0,7) (2,2) (10,2) (22,8) - - - 1) EBITDA adjusted 171,0 187,0 200,0 216,5 231,0 240,0 254,0 Other Adjustments Certain Non-Cash Adjustments - - - 1,0 - - - Deferred Financing Fees 1,9 1,6 3,2 1,4 2,0 2,0 2,0 Acquisition Step-Up Depreciation and Amortization 52,8 47,4 43,5 43,6 43,6 43,6 43,6 Total Adjustments (before taxes) 133,5 137,3 63,8 139,8 124,1 124,1 124,1 Adjusted EBT 95,6 98,1 133,2 139,2 146,1 156,6 172,4 23,9 (0,8) (38,7) (7,1) (5,3) (7,8) (11,6) Taxes on Earnings as Reported (41,8) (16,0) 15,8 Income Tax Adjustment (26 & 27: 24% tax rate) (15,0) (29,8) (29,8) (29,8) Adjusted Taxes on Earnings (17,9) (16,8) (22,9) (22,1) (35,1) (37,6) (41,4) 1) Adjusted Net Income (incl. NCI) 77,7 81,3 110,3 117,1 111,0 119,0 131,0 KPIs Sales growth 2,1% -2,0% -0,2% 3,8% 1,2% 2,5% EBITDA Margin adjusted 12,1% 13,0% 14,2% 15,0% 15,5% 15,9% 16,4% EBITDA Margin unadjusted 6,5% 6,9% 13,0% 8,5% 10,2% 10,7% 11,3% EBT margin adjusted 6,8% 6,8% 9,5% 9,7% 9,8% 10,4% 11,1% EBT margin unadjusted -2,7% -2,7% 4,9% 0,0% 1,5% 2,1% 3,1% Adjusted net income 5,5% 5,7% 7,8% 8,1% 7,4% 7,9% 8,5% = indicative calculation I-ADVISE 1) Based on estimates BofA dated 12 February 2026 2) Estimates 2026 - 2028 based on average 2022 - 2025 except adjustment of warranty liability 4 4 Dieses Dokument ist vertraulich und die Weitergabe und Verbreitung ist untersagt. 2026 I-ADVISE AG

Net Income Utz Brands, Inc. 2026 et seq after Go West - Illustrative Net income reconciliations (after Go West) Projected unadjusted Net Income 2026 to 2028 as derived from BofA estimates of Utz “Stand alone” Est. Est. Est. USDm 2022 2023 2024 2025 2026 2027 2028 requires Go West adjustments 1.408,4 1.438,2 1.409,3 1.438,8 1.493,0 1.511,0 1.549,0 Net sales The adjustments alongside are subject to Net (loss) income - (incl. NCI) (14,0) (40,0) 30,7 (7,7) 16,7 24,7 36,7 Income Tax Expenses (Benefit) - reported (23,9) 0,8 38,7 7,1 5,3 7,8 11,6 modification during the upcoming process from Net (loss) income before taxes - EBT (37,9) (39,2) 69,4 (0,6) 22,0 32,5 48,3 Total Adjustments 133,5 137,3 63,8 139,8 124,1 124,1 124,1 changes in the structuring and similar of Go West Adjusted Taxes on Earnings (17,9) (16,8) (22,9) (22,1) (35,1) (37,6) (41,4) Adjusted Net Income (incl. NCI) 77,7 81,3 110,3 117,1 111,0 119,0 131,0 Key Go West adjusting items relate to: Adjustments Go West impact − One off transaction fees as per BofA estimate (85,0) - - Fees and expenses related to Go West (advisors, underwriting etc.) pre tax Cost savings delisting ( public costs - assumed 10m p.a.) pre tax 5,0 10,0 10,0 comprising (i) sellside fees, (ii) costs for special Interest Expenses before Go West 21,4 41,6 41,6 Interest Expenses after Refinancing Go West (37,0) (73,0) (68,0) committee, (iii) financing (underwriting) fees, […] […] […] […] (iv) legal, accounting and similar costs Total EBT Adjustments Go West (95,6) (21,4) (16,4) Tax Impact (24% tax rate) 22,9 5,1 3,9 − Cost savings from taking Utz private Impact Go West after taxes (72,7) (16,3) (12,5) − Refinancing with changes to interest expenses Adjusted Net Income (incl. NCI) post transaction - illustrative 38,3 102,7 118,5 Unadjusted Net Income (incl. NCI) post transaction - illustrative (56,0) 8,4 24,2 − Taxes on additional Go West adjustments 5 5 Dieses Dokument ist vertraulich und die Weitergabe und Verbreitung ist untersagt. 2026 I-ADVISE AG

Adjusted EBITDA & Net Income Utz Brands, Inc. USDm Ref. 2022 2023 2024 2025 1) “Certain Non-Cash Adjustments”: EBITDA Adjustments − Share-based compensation for associates & directors and compensation Certain Non-Cash Adjustments 1) 11,3 50,7 21,9 26,8 expenses under the “2020 Omnibus Equity Incentive Plan” (2025: $15.6m, 2024: $17.6m, 2023: $15.5m) Acquisition, Divestiture and Integration 2) 45,8 8,6 (23,1) 22,8 − Unrealised gains/losses from purchase commitments (2025: $10.6m, Business Transformation Initiatives 3) 22,1 31,0 28,1 65,4 2024: $4.3m, 2023: $4.2m) Financing-Related Costs 0,3 0,2 0,4 1,6 − Asset impairments and write-offs (2025: $0.6m, 2024: - , 2023: $31.0m of Gain remeasurement of warrant liability 4) (0,7) (2,2) (10,2) (22,8) which $18.4m from sale of Bluffton plant and $12.6m from closure of two Other Adjustments other plants) Deferred Financing Fees 1,9 1,6 3,2 1,4 2) “Acquisition, Divestiture and Integration”: Certain Non-Cash Adjustments - - - 1,0 − Consulting, transaction and legal costs associated with acquisitions (2025: Acquisition Step-Up Depreciation and 22.8m, 2024: $20.9m, 2023: $9.7m) Amortization 5) 52,8 47,4 43,5 43,6 − Only 2024: Income from sale of Good Heath and R.W. Garcia brands, Total Adjustments 133,5 137,3 63,8 139,8 manufacturing facilities and certain operations to Our Home ($44.0m) − Only 2023: Income from change TRA liability ($1.1m) 3) “Business Transformation Initiatives”: General comments: − Various items not individually quantified including (i) consultancy, The presentation of “Non-GAAP Financial Measures” is common in US financial professional, legal fees for specific initiatives & structural changes to the reporting of public companies business not reflecting costs of normal business operations as per mgmt., (ii) gains/losses from sale of distribution rights, (iii) certain severance costs The reconciliation to GAAP numbers is compulsory as per SEC rules and (iv) transition costs for enterprise planning system Items considered as “Adjustments” frequently include 4) “Gain remeasurement of warrant liability”: − stock-based options, − Utz has issued public placement warrants accounted for as derivative − restructuring activities/measures, liabilities; their remeasurement triggers gains or losses, as the case may be − write-offs from acquisitions/business combinations, − The Warrants were fully exercised in 8/2025 in a cashless exchange − impairment issues, resulting in the issuance of 1,307,873 shares of the Company's Class A − legal disputes Common Stock (at the time of exercise, the corresponding liability was The presentation of adjusted numbers is aimed to present ordinary results - extinguished, and the fair value of Warrants was recorded as an increase “ordinary” is subjective based on management’s discretion and not defined to equity) 5) “Acquisition Step-Up Depreciation and Amortization”: To the extend factually pertaining to non-recurring, non-operating and/or non- cash items, the presentation of adjustments is meaningful − Most likely stemming from US-GAAP PPA in the context of 2020 business combination of UBH with Collier Creek Holdings In the following a description of the items for FY 2023 to 2025 is presented based on information available so far 6 6 Dieses Dokument ist vertraulich und die Weitergabe und Verbreitung ist untersagt. 2026 I-ADVISE AG