Company: PRGO
Filing Date: 2025-03-10
Form Type: PRE 14A
Source: 0000950170-25-035751
Chunk: 35

Company: PERRIGO Co plc
Filing Date: 2025-03-10
Form: PRE 14A
Chunk 35
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4 AIP Financial Targets and Actual Results

| IN $MILLIONS |     | METRIC                  |     | TARGET2 |          |     | ACTUAL1 |          |     | PAYOUT         
 (% of TARGET)3 |
| CORPORATE    |     | AIP Net Sales           |     |         | $4,654.6 |     |         | $4,345.9 |     | 66.8%          |
|              |     | AIP OI                  |     |         |   $626.7 |     |         |   $579.5 |     | 81.1%          |
|              |     | AIP Gross Margin        |     |         |    38.9% |     |         |    38.5% |     | 89.5%          |
|              |     | AIP Operating Cash Flow |     |         |   $341.2 |     |         |   $306.8 |     | 0%             |

Net Sales Threshold/Max is 90% / 110% performance for 50%/200% payout; OI Threshold/Max is 80% / 120% performance for 50%/200% payout; Gross Margin Threshold/Max is -150 basis points of target/+150 basis points of target for 50%/200% payout; Operating Cash Flow Threshold/Max is 90%/ 120% for 50%/200% payout. * Payout for performance between levels is interpolated; payout for performance below the threshold level on each metric would result in no payout for that metric. 1 Certain items not related to our on-going performance have been excluded from our calculation of these metrics. See Exhibit A for reconciliation of AIP Adjustments. 2 2024 AIP Targets reflected the expected impact from infant formula remediation and the divestiture of our Rare Disease business on Net Sales, Operating Income, and Gross Margin. 3 Payout figure shows the earned payout based on performance, not accounting for the actual AIP payment split between cash and AIP Replacement RSUs. Perrigo’s AIP Net Sales performance for 2024 of $4,346 million consisted of: • $4,373 million of sales as reported in our financial statements; and • $27 million of adjustments primarily to remove the impact of currency fluctuations and divestitures and exited product lines not included in Perrigo’s original compensation plan for 2024. Perrigo’s AIP O