Kraft Heinz Company 10-Q filed Jul 30, 2025

Modified · Inflation, Supply Chain, and Tariff Impacts:

During the threesix months ended March 29June 28, 2025, we continued to experience experienced inflationary pressures at rates in line with those a slightly elevated rate compared to the inflationary pressures experienced throughout 2024. We are closely monitoring the recent tariff and trade policy actions changes taken by the United States and foreign governments. As the situation continues to remain fluid due to the rapidly changing global trade environment, we are still evaluatingcontinue to evaluate the potential implications of these actions on our business. If enacted as currently outlined, we expect that the proposed trade policy changes would primarily impact a subset of our North America segment (primarily within our Hydration and Coffee platforms). We anticipate an increase in cost of products sold due to certain raw materials currently sourced from outside of the U.S. as well as the impact of tariffs on certain products that are part of our integrated supply chain that spans the U.S. and Canada. During the threesix months ended March 29June 28, 2025, these tariff actions have not had a significant impact on our results of operations; however, we have experienced increased foreign currency exchange rate volatility, which we attribute, in part, to the rapidly changing global trade environment.