Mondelez International Inc. - Ordinary Shares - Class A

Strong 2Q momentum + confidence for H2 (top-line) - Management highlighted emerging markets growth of ~+4.4% top line in Q2 (with strong volume), and said this is structural, not cyclical, supported by stable/satisfactory consumer confidence across key markets. - H2 outlook: company raised/maintained an overall top-line guide of at least +2% (constant currency referenced in call materials), expecting similar growth levels across Q3 and Q4 rather than a big step-up/down.

Emerging Markets: “structural” strength; China softer but improving gradually - Positives by region: - India very strong, Mexico and Brazil consumer solid. - China is softer, but management expects gradual improvement. - Key drivers called out: distribution expansion (store growth), value growth holding up well (notably biscuits and chocolates), and runway from underpenetrated categories. - Distribution specifics mentioned: - India: +100k stores added (another 100k in Q2 timeframe). - Brazil: ~1 million stores. - China: ongoing channel/distribution build-out in Southeast Asia.

North America: improving performance; sustainability case tied to mix, share gains, and reinvestment - Macro backdrop acknowledged as still difficult: consumer confidence rebounded from lows but remains “subdued” (inflation/energy pressure, affordability and job security concerns). - What went well: - Positive volume/mix and sequential acceleration vs Q1. - Share gains in all categories in North America. - Ventures/innovation and channel execution: - Perfect Snacks / States, You: strong growth in value channel (high single digits). - Away-from-home: mid single digit growth. - Ritz: innovation-led traction (drizzled/salty innovations) and share momentum in crackers. - Sustainability argument for H2: disciplined promotional execution, innovation pipeline, price-pack architecture (single-serve, multipacks, variety/club packs), and ANC reinvestment accelerating double-digit in Q2 and expected to continue/increase.