Net earnings (loss) attributable to The Campbell's Company common shareholders for basic EPS is determined by taking Net earnings (loss) attributable to The Campbell's Company less the accretion of redeemable noncontrolling interests to redemption value as the redemption is deemed probable and at an amount other than fair value. See also Note 5 for additional information. In connection with the La Regina acquisition, we recognized a liability at fair value for the deferred consideration that will be paid on May 4, 2027. The deferred consideration will be payable at our discretion in either cash or shares of our capital stock. See Note 3 for additional information. We recognize changes in fair value to accrete the liability to the total $140 million due on May 4, 2027. As the deferred consideration may be settled in shares, for diluted EPS purposes we apply the if-converted method and assume share settlement. Under this method because the entire amount to be accreted would be immediately recognized upon payment, Net earnings (loss) attributable to The Campbell's Company common shareholders for diluted EPS also includes the unrecognized accretion on the deferred consideration. The weighted average shares outstanding used for basic and diluted EPS calculations vary in that the weighted average shares outstanding assuming dilution include the incremental effect of stock options and other share-based payment awards, calculated using the treasury stock method, and the incremental shares that would be assumed to satisfy the deferred consideration, except when such effect would be antidilutive. To the extent the deferred consideration is not fully settled in shares of our capital stock, we may use shares to settle the options to acquire all or a portion of the remaining 51% of the outstanding equity interests of La Regina. In periods after the settlement of the deferred consideration and to the extent shares otherwise remain available under the maximum aggregate share settlement amount of $140 million, for diluted EPS purposes, we will apply the if-converted method and assume share settlement for the exercise of the options. Under this method, Net earnings (loss) attributable to The Campbell’s Company common shareholders for diluted EPS will include the hypothetical portion of earnings that we would acquire with the assumed share settlement and adjusted for the recognized accretion of the redeemable noncontrolling interests. The weighted average shares outstanding for diluted EPS purposes will include the incremental effect of shares assumed to satisfy the exercise of the options.



(Millions, except per share amounts)	2026		2025		2024
Numerator:
Net earnings attributable to The Campbell's Company	$	403	$	602	$	567
Less: Accretion of redeemable noncontrolling interests	5		—		—
Net earnings attributable to The Campbell's Company common shareholders — Basic	$	398	$	602	$	567
Less: Unrecognized accretion on deferred consideration	4		—		—
Net earnings attributable to The Campbell's Company common shareholders — Diluted	$	394	$	602	$	567
Denominator:
Weighted average common shares outstanding - Basic	298		298		298
Weighted average dilutive effect of stock options and other share-based payment awards	1		2		2
Weighted average dilutive effect of deferred consideration	1		—		—
Weighted average common shares outstanding - Diluted	300		300		300

Net earnings per share attributable to The Campbell's Company common shareholders:
Basic	$	1.34	$	2.02	$	1.90
Diluted	$	1.31	$	2.01	$	1.89