Company: PRGO
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0000950170-25-042897
Chunk: 35

Company: PERRIGO Co plc
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 35
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 by Perrigo in 2024. This change will not repeat for the 2025 AIP. 2024 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.

#### 30PERRIGO•2025 PROXY STATEMENT
Executive Compensation * 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 Appendix 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