Grupo Bimbo B de C : Results 4Q22

GRUPO BIMBO

REPORTS FOURTH QUARTER AND

FULL YEAR 2022 RESULTS

Mexico City, February 22, 2023

"2022 was a remarkable year with historic financial performance. We reached $19.8 billion dollars in Net Sales and $2.7 billion dollars in EBITDA, posting 10% and 12% 10-year CAGR, respectively. We saw market share gains in most categories, made record CAPEX investments, fine-tuned our strategic focus on grain-based foods, successfully turned around Argentina and Brazil, and we launched our sustainability strategy."

- Daniel Servitje, Chairman and CEO

"I'm very proud of the impressive hard work of our teams to navigate under difficult conditions, with a successful implementation of pricing actions, an excellent execution at the point of sale and delivering better-than-expected results. After a year of outstanding results, we start 2023 well-positioned to reach our plan, with continued investments in key strategic opportunities for sustainable growth."

- Diego Gaxiola, CFO

Grupo Bimbo S.A.B. de C.V. ("Grupo Bimbo" or "the Company") (BMV: BIMBO) reports its results for the three and twelve months ended December 31, 20221.

As reported in the note "Information to be disclosed about discontinued operations" on November 1, 2022, the Company concluded the sale of its confectionery business. This transaction is presented in the consolidated financial statements as a discontinued operation in the income statement. The main captions of the income statement as of December 31, 2022, and 2021, attributable to the sale of the confectionery business, presented as Results from Discontinued Operations are: Sales $10,114,792 ($10,074,977 for 2021), Operating Costs and Expenses $8,637,010 ($8,576,249 for 2021) and Net Income $1,130,932 ($1,254,050 for 2021).

HIGHLIGHTS OF THE QUARTER

• Net Sales reached a record level for a fourth quarter at Ps. 108,996 million, an increase of 15.3%, primarily due to strong price/mix and volume performance
• Operating Income more than doubled and the margin expanded 11.9 pp, reaching 22.1%, partly due to an extraordinary gain related to the Multiemployer Pension Plans
  ("MEPPs")
• Adjusted EBITDA2 reached a record level for a fourth quarter at Ps. 14,639 million, growing 12.0%, while the margin contracted 40 basis points to 13.4%
• The Company registered extraordinary gains for Ps. 15,004 million and Ps. 14,395 million (US$734 million), arising from the sale of Ricolino and a non-cash benefit from MEPPs
• Net Majority Income increased by more than 5 times and the margin expanded 22.6 pp, to 27.7%, reflecting the sale of Ricolino, the MEPPs benefit, strong sales performance and productivity savings. Excluding the MEPPs and Ricolino effects, Net Majority Income increased 7% and the margin contracted 30 basis points

HIGHLIGHTS OF THE YEAR

▪ Net Sales reached a record level at Ps. 398,706 million, an increase of 17.7%, mainly attributable to strong price/mix and volume across every region

▪ Operating Income rose 64.8% and the margin expanded 390 basis points, reaching 13.5%, partly due to an extraordinary gain related to MEPPs

▪ Adjusted EBITDA reached a record level at Ps. 53,455 million, an increase of 12.8% while the margin contracted 60 basis points to 13.4%

▪ The Company successfully completed the acquisition of St. Pierre in the U.S. and the U.K.

▪ Net Majority Income increased more than two times and the margin expanded 710 basis points to 11.8%, due to the strong sales performance, the extraordinary gain related to MEPPs and the sale of Ricolino. Excluding these effects, Net Majority Income increased 21.4% and the margin expanded 20 basis points

▪ Return on Equity3 expanded 120 basis points, reaching 15.1%

▪ Net Debt/Adjusted EBITDA4 ratio closed the year at 1.5 times, the lowest level in 14 years

▪ CAPEX investments reached a record level of US$1.4 billion

▪ Grupo Bimbo returned to its Shareholders Ps. 8.8 billion through dividends and share buybacks

1. Figures included in this document are prepared in accordance with International Financial Reporting Standards (IFRS).
2. Earnings before interests, taxes, depreciation, amortization, impairments and Multiemployer Pension Plans ("MEPPs").	1
3. Adjusted with MEPPs and Ricolino's divestiture.
4. For this ratio's calculation Adjusted EBITDA does not consider the effect of IFRS16.

RECENT DEVELOPMENTS

• The Company acquired Vel Pitar, the leader within the Romanian baking industry, at 8 times EV/EBITDA, expanding Grupo Bimbo's presence to 34 countries
• The Company is making several changes to its senior leadership team. These changes are consistent with its succession plan and its long-term vision
• BBU was recognized by IRI (Information Resources, Inc.) as the fourth fastest growing CPG company in 2022, and the fastest growing food company
• Grupo Bimbo was included for the first time in the Bloomberg Gender-Equality Index 2023
• Grupo Bimbo was recognized by Carbon Disclosure Project (CDP) for its actions to mitigate the effects of climate change

FINANCIAL SUMMARY

(MILLIONS OF MEXICAN PESOS)

	4Q22	4Q21	Change	2022	2021	Change
Net Sales	108,996	94,550	15.3%	398,706	338,792	17.7%
Gross Profit	56,186	49,795	12.8%	205,381	181,089	13.4%
Operating Income	24,064	9,623	>100%	53,696	32,580	64.8%
Adjusted EBITDA	14,639	13,069	12.0%	53,445	47,372	12.8%
Net Majority Income	30,234	4,824	>100%	46,910	15,916	>100%
Net Debt/Adj. EBITDA				1.5	2.0	(0.5x)
ROE				15.1%	13.9%	1.2pp

CHANGES TO SENIOR LEADERSHIP TEAM

Rafael Pamias

Rafael Pamias, Executive VP of Grupo Bimbo, has been named Chief Operating Officer of Grupo Bimbo and will be leading all four global regions as well as Sustainability and Global Marketing, reporting directly to Daniel Servitje.

Fred Penny

After 41 years in the baking industry, Fred Penny, President of Bimbo Bakeries USA, Inc. ("BBU"), will be retiring at the end of March 2023. Fred has spent most of his career working in leadership roles for predecessor companies that would eventually become BBU.

Over the last decade as BBU President, Fred's passion for our business and people, along with his long-term thinking, frontline obsession, and courage to transform the business, has allowed him to lead BBU through unprecedented circumstances and challenges to record business performance.

2

Tony Gavin

With Fred's retirement, Tony Gavin, currently Executive Vice President at BBU, will become President of BBU. Tony has spent his entire career focused on the Consumer, understanding their needs and preferences, and creating business processes to meet them.

Mark Bendix

As BBU President, Tony will report to Mark Bendix, Grupo Bimbo Executive Vice President, whose responsibility will expand to include BBU, in addition to Bimbo Canada and Bimbo QSR. Mark joined Grupo Bimbo in 2017, and he has extensive leadership experience in the baking industry with years holding executive positions at The Bama Companies, General Mills, The Pillsbury Company, and Quaker Oats.

Daniel Servitje, Chairman and CEO of Grupo Bimbo said:

"Since Rafa joined Grupo Bimbo in 2017, he has led the turnaround of various businesses including Brazil and Argentina as well as the launch of the sustainability strategy. His ample experience in the industry and his great proven leadership skills have helped Grupo Bimbo to reach our Vision and fulfill our Mission. I know that Rafa will take on this responsibility with energy and enthusiasm".

"Fred has been an incredible leader and friend to the Grupo Bimbo family. During his leadership, BBU focused and upgraded its manufacturing operations, invested in sales systems and automation across the supply chain and made important strategic acquisitions to position the business for future success. Through this work, as well as advances in Safety, Diversity, Equity & Belonging and Sustainability, BBU has become an important player in the industry. I deeply thank him for his talent and contribution".

"Tony's primary passion and priority has been growth by supporting our frontline and I am confident that this mindset, along with his care for our associates and our Company, will fuel his success in this new role".

"Mark has vast experience in the industry and the energy, working with Tony Gavin, to take BBU to the next level and realize its full potential. I'm confident that Mark will take on this new challenge with passion and perseverance".

3

N E T S A L E S

(MILLIONS OF MEXICAN PESOS)

Net Sales	4Q22	4Q21	% Δ	2022	2021	% Δ
North America	57,968	50,050	15.8	205,674	175,369	17.3
Mexico	34,818	29,653	17.4	130,401	109,089	19.5
Latin America	10,008	8,603	16.3	38,411	31,109	23.5
EAA	9,961	9,384	6.2	37,536	34,195	9.8
Grupo Bimbo	108,996	94,550	15.3	398,706	338,792	17.7

Consolidated results exclude inter-company transactions.

North America

51.6%

Latam
9.6%
EAA
9.4%	Mexico5
	29.4%

Revenue mix for the last twelve months ended December 31, 2022.

Net Sales reached a record level for a fourth quarter at Ps. 108,996 million, an increase of 15.3%, primarily due to strong price/mix and volume performance.

2022 Net Sales reached a record level at Ps. 398,706 million, an increase of 17.7%, mainly attributable to strong price/mix and volume across every region, which was partially offset by FX rate effect. Excluding this effect, Net Sales increased 20.6%.

NORTH AMERICA6

North America

Net Sales in US dollars increased 21.9% mainly reflecting the successful implementation of the pricing strategy across categories and channels. Net Sales also benefited from an extra week of sales compared to prior year. Snacks, Premium and Mainstream bread, and Sweet Baked Goods categories outperformed, with continued solid market share performance in multiple categories.

MEXICO

Net Sales in Mexico grew 17.4%, attributable to favorable price/product mix performance and price increases. Every channel posted double-digitgrowth, most notably the convenience, retail, and traditional channels, as did the snacks, sweet baked goods, snack cakes, cookies, and bread categories.

5. Inter-company transactions have been removed from Mexico.	4
6. North America region includes operations in the United States and Canada.