# EDGAR Filing Document

**Accession Number:** 0001519751
**File Stem:** 0001193125-26-048775
**Filing Date:** 2026-2
**Character Count:** 79755
**Document Hash:** 335465198529557555a8bb9484145a6e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-048775.hdr.sgml**: 20260212

**ACCESSION NUMBER**: 0001193125-26-048775

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260211

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260212

**DATE AS OF CHANGE**: 20260212

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fortune Brands Innovations, Inc.
- **CENTRAL INDEX KEY:** 0001519751
- **STANDARD INDUSTRIAL CLASSIFICATION:** MILLWOOD, VENEER, PLYWOOD & STRUCTURAL WOOD MEMBERS [2430]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 621411546
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1230

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35166
- **FILM NUMBER:** 26626441

**BUSINESS ADDRESS:**
- **STREET 1:** 1 HORIZON WAY
- **STREET 2:** BUILDING N
- **CITY:** DEERFIELD
- **STATE:** IL
- **ZIP:** 60015
- **BUSINESS PHONE:** 847-484-4400

**MAIL ADDRESS:**
- **STREET 1:** 1 HORIZON WAY
- **STREET 2:** BUILDING N
- **CITY:** DEERFIELD
- **STATE:** IL
- **ZIP:** 60015

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Fortune Brands Home & Security, Inc.
- **DATE OF NAME CHANGE:** 20110825

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Fortune Brands Home & Security LLC
- **DATE OF NAME CHANGE:** 20110503

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** February 11, 2026<br>

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FORTUNE BRANDS INNOVATIONS, INC.

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| Delaware | 1-35166 | 62-1411546 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 1 Horizon Way<br>Building N |  |  |
| Deerfield**,** Illinois |  | 60015-3888 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code:** 847 484-4400<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | |
|:---|:---|
| **<br>Title of each class** | **<br>Name of each exchange on which registered** |
| Common Stock, par value $0.01 per share<br> FBIN | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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## Item 2.02 Results of Operations and Financial Condition.
On February 12, 2026, Fortune Brands Innovations, Inc. (the "Company") issued a press release reporting the Company's fourth quarter and full year 2025 results, as well as certain guidance for 2026. A copy of the Company's press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated herein by reference.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.

## Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
*Management Transition* 

On February 12, 2026, Fortune Brands Innovations, Inc. (the "Company") announced that the Board of Directors of the Company (the "Board") appointed Mr. Amit Banati, a current director of the Company, as Chief Executive Officer of the Company ("CEO"), effective on May 13, 2026. Mr. Banati will succeed Mr. Fink who notified the Board on February 11, 2026 of his intention to resign as CEO and as a member of the Board, effective April 1, 2026. While serving as CEO, Mr. Banati will continue to serve as a Class II member of the Board. On February 12, 2026, the Company also announced that the Board appointed Ms. Susan S. Kilsby, on an interim basis, as Executive Chair effective February 12, 2026 and principal executive officer of the Company following the effective date of Mr. Fink's resignation and prior to the commencement of Mr. Banati's employment, after which time she will return to her role as Non-Executive Chair of the Board.

Mr. Banati, age 57, has served on the Board since September 2020. Mr. Banati has served as Chief Financial Officer of Kenvue, Inc., the world's largest pure-play consumer health company by revenue, since May 2025. Prior to joining Kenvue, he served as Vice Chairman and Chief Financial Officer of Kellanova (formerly Kellogg Company), a leader in global snacking, international cereal, noodles and frozen foods, from December 2022 to May 2025. He joined Kellogg Company, a multinational food manufacturing company, in 2011 serving as President for Asia Pacific, Middle East and Africa until July 2019 when he was promoted to Senior Vice President and Chief Financial Officer

Ms. Kilsby, age 67, has served as a member of the Board since 2015 and as Non-Executive Chair of the Board since January 2021. Ms. Kilsby retired in May 2014 following a distinguished career in the global investment banking industry, with particular expertise in mergers and acquisitions, finance and international business. Ms. Kilsby served as Senior Advisor of Credit Suisse AG from 2009 until her retirement in 2014. Prior to that she served as Chairman and Head of Europe, Middle East, and Africa Mergers and Acquisitions at Credit Suisse AG. Prior to joining Credit Suisse, she held a variety of senior positions with The First Boston Corporation, Bankers Trust and Barclays de Zoete Wedd. Ms. Kilsby also has extensive board leadership experience. She currently serves as a Senior Independent Director of Diageo plc, a multinational alcoholic beverage company, as Vice Chair and Senior Independent Director of Unilever plc, a multinational consumer packaged goods company, and as a non-executive director of COFRA Holding plc, a retailing, real estate, asset management, private equity, renewable energy and sustainable food company. She previously served as Chair of the board of directors of Shire plc and on the board of directors of BHP Group plc and BHP Limited.

Mr. Fink's decision to resign is not as a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. There are no arrangements or understandings between Mr. Banati or Ms. Kilsby and any other persons pursuant to which they were selected as an officer of the Company. There are no family relationships between Mr. Banati or Ms. Kilsby and any director or executive officer of the Company and there are no transactions involving the Company that would be required to report pursuant to Item 404(a) of Regulation S-K.

In connection with Mr. Banati's appointment as CEO, the Company and Mr. Banati entered into an offer of employment (the "CEO Offer Letter"). Pursuant to the CEO Offer Letter, Mr. Banati's compensation will consist of: (1) an annual base salary of $1,100,000; (2) an annual bonus target of 150% of his annual base salary; and (3) a long-term incentive compensation award with an annual target of $6,700,000. Mr. Banati's long-term incentive award will be granted 50% in the form of performance share awards ("PSAs"), and 25% each in the form of restricted stock units ("RSUs") and stock options, with vesting terms consistent with the Company's annual equity grants. In addition, Mr. Banati will receive "Make Whole Compensation" in the form of a one-time cash award of $8,000,000, which must be repaid on a pro rata basis in the event Mr. Banati voluntarily leaves the Company without good reason prior to the three-year anniversary of his start date, and a one-time long term incentive award of $6,000,000 in RSUs (the "Make Whole RSUs"), which will vest equally over three years.

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Mr. Banati is eligible to enter into the Company's Form of Agreement for the Payment of Benefits Following Termination of Employment, which has previously been filed with the Company's Annual Report on Form 10-K, except that Mr. Banati's severance multiple will be two in the case of a qualifying termination, increased to three in the event of a qualifying termination following a change of control. In addition, in the event of a termination for good reason, a termination of employment by the Company without cause, or termination of employment as a result of death or disability or a change in control of the Company in which the Make Whole RSUs are not assumed, the vesting of the Make Whole RSUs will be accelerated.

In recognition of Mr. Banati's forfeiture of certain compensation from his current employer, in the event that, following Mr. Banati's execution of the CEO Offer Letter and his satisfaction of the conditions of employment set forth in the CEO Offer Letter, the Company elects not to commence Mr. Banati's employment on or prior to May 13, 2026 (other than as a result of his commission of an act which would, if Mr. Banati was employed by the Company, constitute "cause"), then the Company will pay a cash award equivalent to the Make Whole Compensation.

**Item 7.01 Regulation FD Disclosure.** 

A copy of the Company's press release issued by the Company on February 12, 2026 in relation to the management transition is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is hereby incorporated herein by reference.

The information furnished pursuant to this Item 7.01, including Exhibit 99.2, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.

## Item 9.01 Financial Statements and Exhibits.
(d) Exhibits

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| | |
|:---|:---|
| Exhibit No. | Description |
| 99.1 | [<u>Press Release dated February 12, 2026, issued by Fortune Brands Innovations, Inc.</u>](fbin-ex99_1.htm) |
| 99.2 | [<u>Press Release dated February 12, 2026, issued by Fortune Brands Innovations, Inc.</u>](fbin-ex99_2.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  |  | FORTUNE BRANDS INNOVATIONS, INC. |
| Date: | February 12, 2026 | By:  | /s/ Jonathan H. Baksht |
|  |  | Name:<br>Title: | Jonathan H. Baksht<br>Executive Vice President and Chief Financial Officer |

---

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## Exhibit 99.1

**EXHIBIT 99.1**

![img15918052_0.jpg](img15918052_0.jpg)

**Fortune Brands Innovations Announces Fourth Quarter and**

**Full-Year 2025 Results**

<br> **Highlights:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Q4 2025 sales were $1.1 billion, a decrease of 2 percent versus Q4 2024; sales excluding the impact of China were flat** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Q4 2025 earnings per share (EPS) were $0.63, a decrease of 25 percent versus a year ago; EPS before charges / gains were $0.86, a decrease of 12 percent versus Q4 2024**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Full-year 2025 sales were $4.5 billion, a decrease of 3 percent versus 2024; sales excluding the impact of China were down 1 percent**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Full-year 2025 EPS were $2.47, a decrease of 34 percent versus a year ago; EPS before charges / gains were $3.61, a decrease of 12 percent versus 2024**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Full-year 2026 guidance reflects continued uncertain external environment as Company remains focused on outperforming its end markets while executing initiatives to drive long-term margin improvements** 

DEERFIELD, Ill.--(BUSINESS WIRE)—February 12, 2026--Fortune Brands Innovations, Inc. (NYSE: FBIN or "Fortune Brands" or the "Company"), an industry-leading home, security and digital products company whose purpose is to elevate every life by transforming spaces into havens, today announced fourth quarter and full-year 2025 results.

"In the fourth quarter and for the full year, our team navigated a challenging external environment. I'm proud of the way we responded to the external uncertainty while still driving meaningful progress across our strategic initiatives," said Fortune Brands Chief Executive Officer Nicholas Fink. "However, we are not satisfied with our current profitability, and we are identifying further opportunities to structurally improve our performance and return the business to the level of profitability we expect. This includes taking decisive actions to refine our cost structure, optimize our operations and improve efficiency in a market that we believe will continue to be challenging."

"In 2025, we outperformed our end market, and we remain confident in our strategy and will continue to invest in growth - specifically in brand building, meaningful innovation, and investing in our people. We are committed to operating with discipline today while positioning the business to win for years to come, particularly when markets return to growth," said Fink.

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**<u>Fourth Quarter 2025 Results</u>**

*($ in millions, except per share amounts)*

*Unaudited*

<u>Q4 2025 Total Company Results</u>

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| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Reported Net Sales** | &nbsp;&nbsp;**Operating Income** | &nbsp;&nbsp;**Operating Margin** | &nbsp;&nbsp;**EPS** |
| &nbsp;&nbsp;Q4 2025 GAAP | &nbsp;&nbsp;$1077.5 | &nbsp;&nbsp;$121.6 | &nbsp;&nbsp;11.3% | &nbsp;&nbsp;$0.63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change  | &nbsp;&nbsp;(2.4%) | &nbsp;&nbsp;(31.8%) | &nbsp;&nbsp;(480) bps | &nbsp;&nbsp;(25.0%) |
|  | &nbsp;&nbsp;**Reported Net Sales** | &nbsp;&nbsp;**Operating Income Before Charges / Gains** | &nbsp;&nbsp;**Operating Margin** <br>**Before Charges / Gains** | &nbsp;&nbsp;**EPS** <br>**Before Charges / Gains** |
| &nbsp;&nbsp;Q4 2025 Non-GAAP | &nbsp;&nbsp;$1077.5 | &nbsp;&nbsp;$158.3 | &nbsp;&nbsp;14.7% | &nbsp;&nbsp;$0.86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change | &nbsp;&nbsp;(2.4%) | &nbsp;&nbsp;(12.8)% | &nbsp;&nbsp;(170) bps | &nbsp;&nbsp;(12.2%) |

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<u>Q4 2025 Segment Results</u>

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Net Sales** | **Change** | **Operating Margin** | **Change** | **Operating Margin**<br>**Before Charges/Gains** | **Change** |
| Water Innovations | $616.8 | (4.3%)  | 22.2% | (130) bps | 22.8% | (90) bps  |
| Outdoors | $294.9 | (2.7%)  | 8.0% | (990) bps | 14.2% | (400) bps  |
| Security | $165.8 | 5.9%  | 8.1% | (80) bps | 13.4% | 410 bps  |

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**<u>Full-Year 2025 Results</u>**

*($ in millions, except per share amounts)*

*Unaudited*

<u>Full-Year 2025 Total Company Results</u>

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| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Reported Net Sales** | &nbsp;&nbsp;**Operating Income** | &nbsp;&nbsp;**Operating Margin** | &nbsp;&nbsp;**EPS** |
| &nbsp;&nbsp;FY 2025 GAAP | &nbsp;&nbsp;$4463.2 | &nbsp;&nbsp;$516.1 | &nbsp;&nbsp;11.6% | &nbsp;&nbsp;$2.47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change  | &nbsp;&nbsp;(3.2%) | &nbsp;&nbsp;(30.1%) | &nbsp;&nbsp;(440) bps | &nbsp;&nbsp;(34.1%) |
|  | &nbsp;&nbsp;**Reported Net Sales** | &nbsp;&nbsp;**Operating Income Before Charges / Gains** | &nbsp;&nbsp;**Operating Margin** <br>**Before Charges / Gains** | &nbsp;&nbsp;**EPS** <br>**Before Charges / Gains** |
| &nbsp;&nbsp;FY 2025 Non-GAAP | &nbsp;&nbsp;$4463.2 | &nbsp;&nbsp;$699.4 | &nbsp;&nbsp;15.7% | &nbsp;&nbsp;$3.61 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change | &nbsp;&nbsp;(3.2%) | &nbsp;&nbsp;(10.4%) | &nbsp;&nbsp;(120) bps | &nbsp;&nbsp;(12.4%) |

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<u>Full-Year 2025 Segment Results</u>

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Net Sales** | **Change** | **Operating Margin** | **Change** | **Operating Margin**<br>**Before Charges/Gains** | **Change** |
| Water Innovations | $2447.6 | (4.6%)  | 22.2% | (100) bps | 23.3% | (20) bps  |
| Outdoors | $1323.0 | (2.0%)  | 6.3% | (840) bps | 13.3% | (280) bps  |
| Security | $692.6 | (0.2%)  | 11.5% | (300) bps | 15.1% | (100) bps  |

---

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**<u>Balance Sheet and Cash Flow</u>**

The Company exited the quarter with a strong balance sheet and generated $208.2 million of operating cash flow and $183.7 million of free cash flow in the quarter. For the full year, the Company generated $478.6 million of operating cash flow and $366.8 million of free cash flow, which represents a cash conversion ratio of over 120 percent. The Company finished the year with $1,126.6 million of liquidity. The Company recently extended its existing $1.25 billion Senior Unsecured Revolving Credit Facility for an additional five-year term.

As of the end of the fourth quarter 2025:

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| | |
|:---|:---|
| &nbsp;&nbsp;Net debt | &nbsp;&nbsp;$2.3 billion |
| &nbsp;&nbsp;Net debt to EBITDA before charges / gains | &nbsp;&nbsp;2.6x |
| &nbsp;&nbsp;Cash | &nbsp;&nbsp;$264.0 million |
| &nbsp;&nbsp;Amount available under revolving credit facility | &nbsp;&nbsp;$862.6 million |

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**<u>2026 Full-Year Guidance</u>**

"Our full-year 2026 guidance reflects a measured planning approach, given continued uncertainty around the timing and pace of improvement in our end markets. I am confident in our ability to continue executing at a high level, supported by our cost discipline, and our strong balance sheet and cash flow. Further, we are taking actions to optimize our footprint and sharpen resource allocation towards our highest-growth opportunities, which should be visible as we exit the year and benefit our earnings trajectory into the future," said Fortune Brands Chief Financial Officer Jon Baksht.

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| | |
|:---|:---|
|  | &nbsp;&nbsp;**2026 Full-Year Guidance** |
| &nbsp;&nbsp;TOTAL COMPANY FINANCIAL METRICS |  |
| &nbsp;&nbsp;Net sales | &nbsp;&nbsp;Flat to 2.0% |
| &nbsp;&nbsp;EPS before charges / gains | &nbsp;&nbsp;$3.35 to $3.65 |

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<u>2026 Market and Financial Assumptions</u>

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| | |
|:---|:---|
|  | &nbsp;&nbsp;**2026 Full-Year Assumptions** |
| &nbsp;&nbsp;MARKET |  |
| &nbsp;&nbsp;Global market | &nbsp;&nbsp;Down low single digits |
| &nbsp;&nbsp;U.S. market | &nbsp;&nbsp;Down low single digits |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. R&R | &nbsp;&nbsp;Down low single digits |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. SFNC | &nbsp;&nbsp;Down mid single digits |
| &nbsp;&nbsp;China market | &nbsp;&nbsp;Down low double digits |
| &nbsp;&nbsp;TOTAL COMPANY FINANCIAL METRICS |  |
| &nbsp;&nbsp;Operating margin before charges / gains | &nbsp;&nbsp;14.5% to 15.5% |
| &nbsp;&nbsp;Cash flow from operations | &nbsp;&nbsp;$540 million to $560 million |
| &nbsp;&nbsp;Free cash flow | &nbsp;&nbsp;$400 million to $450 million |
| &nbsp;&nbsp;SEGMENT FINANCIAL METRICS |  |
| &nbsp;&nbsp;Water Innovations net sales | &nbsp;&nbsp;Flat to 2.0% |
| &nbsp;&nbsp;Water Innovations operating margin before charges / gains | &nbsp;&nbsp;22.0% to 23.0% |
| &nbsp;&nbsp;Outdoors net sales | &nbsp;&nbsp;(0.5%) to 1.5%  |
| &nbsp;&nbsp;Outdoors operating margin before charges / gains | &nbsp;&nbsp;11.5% to 12.5%  |
| &nbsp;&nbsp;Security net sales | &nbsp;&nbsp;Flat to 3.0%  |
| &nbsp;&nbsp;Security operating margin before charges / gains | &nbsp;&nbsp;15.5% to 16.5%  |

---

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| | |
|:---|:---|
| &nbsp;&nbsp;OTHER ITEMS |  |
| &nbsp;&nbsp;Corporate expense | &nbsp;&nbsp;$155 million to $165 million  |
| &nbsp;&nbsp;Interest expense | &nbsp;&nbsp;$110 million to $115 million  |
| &nbsp;&nbsp;Capex | &nbsp;&nbsp;$110 million to $140 million  |
| &nbsp;&nbsp;Tax rate | &nbsp;&nbsp;24.0% to 24.5% |
| &nbsp;&nbsp;Share count | &nbsp;&nbsp;120.0 million to 120.5 million  |

---

For certain forward-looking non-GAAP measures (as used in this press release, operating margin before charges / gains on a full Company and segment basis, EPS before charges / gains, and free cash flow), the Company is unable to provide a reconciliation to the most comparable GAAP financial measure because the information needed to reconcile the non-GAAP financial measure to the GAAP financial measure is unavailable due to the inherent difficulty of forecasting the timing and / or amount of various items that have not yet occurred, including the high variability and low visibility with respect to gains and losses associated with our defined benefit plans, which are excluded from EPS before charges / gains, and restructuring and other charges, which are excluded from operating margin before charges / gains and EPS before charges / gains. Additionally, estimating such GAAP measures and providing a meaningful reconciliation consistent with the Company's accounting policies for future periods requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort. Forward-looking non-GAAP measures are estimated consistent with the relevant definitions and assumptions.

**<u>Conference Call Details</u>**

Today at 5:00 p.m. ET, Fortune Brands will host an investor conference call to discuss results. A live internet audio webcast of the conference call and earnings presentation will be available on the Fortune Brands website at ir.fbin.com/upcoming-events. It is recommended that listeners log on at least 10 minutes prior to the start of the call. A recorded replay of the call will be made available on the Company's website shortly after the call has ended.

**<u>About Fortune Brands Innovations</u>**

Fortune Brands Innovations, Inc. (NYSE: FBIN) is an industry-leading home, security and digital products company whose purpose is to elevate every life by transforming spaces into havens. The Company makes innovative products for residential and commercial environments, with a growing focus on digital solutions and products that add luxury, contribute to safety and enhance sustainability. The Company's trusted brands include Moen, House of Rohl, Aqualisa, SpringWell, Therma-Tru, Larson, Fiberon, Master Lock, SentrySafe and Yale residential. Learn more at <u>www.fbin.com</u>.

**CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS**

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief or expectations for our business, operations, financial performance or financial condition in addition to statements regarding our expectations for the markets in which we operate, general business strategies, expected impacts from recently-announced organizational and leadership changes, the market potential of our brands, trends in the housing market, the potential impact of costs, including material and labor costs, the potential impact of inflation, expected capital spending, expected pension contributions or de-risking initiatives, the expected impact of acquisitions, dispositions and other strategic transactions, the anticipated impact of recently issued accounting standards on our financial statements, and other matters that are not historical in nature. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," "outlook," "positioned," "confident," "opportunity," "focus," "on track" and similar expressions or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally

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forward-looking in nature and not historical facts. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is based on current expectations, estimates, assumptions and projections of our management about our industry, business and future financial results, available at the time this press release is issued. Although we believe that these statements are based on reasonable assumptions, they are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those indicated in such statements, including but not limited to: (i) our reliance on the North American and Chinese home improvement, repair and remodel and new home construction activity levels, (ii) the housing market, downward changes in the general economy, unfavorable interest rates or other business conditions, (iii) the competitive nature of consumer and trade brand businesses, (iv) our ability to execute on our strategic plans and the effectiveness of our strategies in the face of business competition, (v) our reliance on key customers and suppliers, including wholesale distributors and dealers and retailers, (vi) risks relating to rapidly evolving technological change, (vii) risks associated with our ability to improve organizational productivity and global supply chain efficiency and flexibility, (viii) risks associated with global commodity and energy availability and price volatility, as well as the possibility of sustained inflation, (ix) delays or outages in our information technology systems or computer networks or breaches of our information technology systems or other cybersecurity incidents, (x) risks associated with doing business globally, including changes in trade-related tariffs (including recent U.S. tariffs announced or imposed on China, Canada, Mexico and other countries and any reciprocal actions taken by such countries) and risks with uncertain trade environments, (xi) risks associated with the disruption of operations, including as a result of severe weather events, (xii) our inability to obtain raw materials and finished goods in a timely and cost-effective manner, (xiii) risks associated with strategic acquisitions, divestitures and joint ventures, including difficulties integrating acquired companies and the inability to achieve the expected financial results and benefits of transactions, (xiv) impairments in the carrying value of goodwill or other acquired intangible assets, (xv) risks of increases in our defined benefit-related costs and funding requirements, (xvi) our ability to attract and retain qualified personnel and other labor constraints, (xvii) the effect of climate change and the impact of related changes in government regulations and consumer preferences, (xviii) risks associated with environmental, social and governance matters, (xix) potential liabilities and costs from claims and litigation, (xx) changes in government and industry regulatory standards, (xxi) future tax law changes or the interpretation of existing tax laws, and (xxii) our ability to secure and protect our intellectual property rights. These and other factors are discussed in Part I, Item 1A "Risk Factors" of our Annual Report on Form 10-K for the year ended December 28, 2024. We undertake no obligation to, and expressly disclaim any such obligation to, update or clarify any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, new information or changes to future results over time or otherwise, except as required by law.

**Use of Non-GAAP Financial Information**

This press release includes measures not derived in accordance with generally accepted accounting principles ("GAAP"), such as diluted earnings per share before charges / gains, operating income before charges / gains, operating margin before charges / gains, general and administrative expenses before charges/gains, net debt, net debt to EBITDA before charges / gains, net sales excluding the impact of China, free cash flow and cash conversion ratio (defined as free cash flow divided by GAAP net income). These non-GAAP measures should not be considered in isolation or as a substitute for any measure derived in accordance with GAAP and may also be inconsistent with similar measures presented by other companies. Reconciliations of these measures to the applicable most closely comparable GAAP measures, and reasons for the Company's use of these measures, are presented in the attached pages.

Source: Fortune Brands Innovations, Inc.

INVESTOR CONTACT:

Curt Worthington

Investor.Questions@fbin.com

------

**FORTUNE BRANDS INNOVATIONS, INC.**

(In millions)

*(Unaudited)*

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Thirteen Weeks Ended** | **Thirteen Weeks Ended** |  |  | **Fifty-Two Weeks Ended** | **Fifty-Two Weeks Ended** |  |  |
| **Net sales (GAAP)** | **December 27, 2025** | **December 28, 2024** | **$ Change** | **% Change** | **December 27, 2025** | **December 28, 2024** | **$ Change** | **% Change** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Water | 616.8 | 644.6 | (27.8) | (4.3) | 2447.6 | 2564.6 | (117.0) | (4.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outdoors | 294.9 | 303.0 | (8.1) | (2.7) | 1323.0 | 1350.1 | (27.1) | (2.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Security | 165.8 | 156.5 | 9.3 | 5.9 | 692.6 | 694.3 | (1.7) | (0.2) |
| **Total net sales** | 1077.5 | 1104.1 | (26.6) | (2.4) | 4463.2 | 4609.0 | (145.8) | (3.2) |

---

**RECONCILIATIONS OF GAAP OPERATING INCOME TO OPERATING INCOME BEFORE CHARGES/GAINS**

**(In millions)**

*(Unaudited)*

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Thirteen Weeks Ended** | **Thirteen Weeks Ended** |  |  | **Fifty-Two Weeks Ended** | **Fifty-Two Weeks Ended** |  |  |
|  | **December 27, 2025** | **December 28, 2024** | **$ Change** | **% Change** | **December 27, 2025** | **December 28, 2024** | **$ Change** | **% Change** |
| **WATER** |  |  |  |  |  |  |  |  |
| **Operating income (GAAP)** | 137.1 | 151.4 | (14.3) | (9.4) | 542.2 | 595.1 | (52.9) | (8.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges | 0.7 | 1.0 | (0.3) | (26.0) | 21.0 | 5.9 | 15.1 | 256.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other charges/(gains) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of products sold | (0.8) | 0.1 | (0.9) | (900.0) | - | 2.5 | (2.5) | (100.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | 0.1 | - | 0.1 | 100.0 | 3.8 | - | 3.8 | 100.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of inventory step-up <sup>(e)</sup> | - | - | - | - | - | 0.3 | (0.3) | (100.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset impairment charge <sup>(f)</sup> | 3.5 | - | 3.5 | 100.0 | 3.5 | - | 3.5 | 100.0 |
| **Operating income before charges/gains** <sup>(a)</sup> | 140.6 | 152.5 | (11.9) | (7.8) | 570.5 | 603.8 | (33.3) | (5.5) |
| **OUTDOORS** |  |  |  |  |  |  |  |  |
| **Operating income (GAAP)** | 23.7 | 54.1 | (30.4) | (56.2) | 83.5 | 198.0 | (114.5) | (57.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges | 0.6 | 0.1 | 0.5 | 500.0 | 5.5 | 5.0 | 0.5 | 10.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other charges/(gains) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of products sold | (0.6) | 1.0 | (1.6) | (160.0) | 8.2 | 14.8 | (6.6) | (44.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | - | - | - | - | 7.2 | 0.2 | 7.0 | 3500.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset impairment charge <sup>(f)</sup> | - | - | - | - | 50.1 | - | 50.1 | 100.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Manufacturing facility fire <sup>(g)</sup> | 18.1 | - | 18.1 | 100.0 | 21.1 | - | 21.1 | 100.0 |
| **Operating income before charges/gains** <sup>(a)</sup> | 41.8 | 55.2 | (13.4) | (24.3) | 175.6 | 218.0 | (42.4) | (19.4) |
| **SECURITY** |  |  |  |  |  |  |  |  |
| **Operating income (GAAP)** | 13.5 | 13.9 | (0.4) | (2.9) | 79.9 | 100.4 | (20.5) | (20.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges | 0.4 | 0.7 | (0.3) | (42.9) | 7.8 | 3.8 | 4.0 | 105.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other charges/(gains) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of products sold | (0.4) | - | (0.4) | (100.0) | 3.4 | 7.7 | (4.3) | (55.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | 8.7 | - | 8.7 | 100.0 | 13.8 | - | 13.8 | 100.0 |
| **Operating income before charges/gains** <sup>(a)</sup> | 22.2 | 14.6 | 7.6 | 52.1 | 104.9 | 111.9 | (7.0) | (6.3) |
| **CORPORATE** |  |  |  |  |  |  |  |  |
| **Corporate expense (GAAP)** | (52.7) | (41.1) | (11.6) | (28.2) | (189.5) | (155.6) | (33.9) | (21.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges | 1.4 | 0.4 | 1.0 | (250.0) | 18.1 | 1.5 | 16.6 | 1106.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other charges/(gains) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | 5.0 | - | 5.0 | (100.0) | 16.8 | 0.6 | 16.2 | (2701.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASSA transaction expenses <sup>(d)</sup> | - | - | - | - | - | 0.4 | (0.4) | 100.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Transformation costs <sup>(h)</sup> | - | - | - | - | 3.0 | - | 3.0 | (100.0) |
| **General and administrative expenses before charges/gains** <sup>(a)</sup> | (46.3) | (40.7) | (5.6) | (13.8) | (151.6) | (153.1) | 1.5 | 1.0 |
| **TOTAL COMPANY** |  |  |  |  |  |  |  |  |
| **Operating income (GAAP)** | 121.6 | 178.3 | (56.7) | (31.8) | 516.1 | 737.9 | (221.8) | (30.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges | 3.1 | 2.2 | 0.9 | 42.7 | 52.4 | 16.2 | 36.2 | 223.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other charges/(gains) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of products sold | (1.8) | 1.1 | (2.9) | (263.6) | 11.6 | 25.0 | (13.4) | (53.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | 13.8 | - | 13.8 | 100.0 | 41.6 | 0.8 | 40.8 | 5101.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;ASSA transaction expenses <sup>(d)</sup> | - | - | - | - | - | 0.4 | (0.4) | (100.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of inventory step-up <sup>(e)</sup> | - | - | - | - | - | 0.3 | (0.3) | (100.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset impairment charge <sup>(f)</sup> | 3.5 | - | 3.5 | 100.0 | 53.6 | - | 53.6 | 100.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Transformation costs <sup>(h)</sup> | - | - | - | - | 3.0 | - | 3.0 | 100.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Manufacturing facility fire <sup>(g)</sup> | 18.1 | - | 18.1 | 100.0 | 21.1 | - | 21.1 | 100.0 |
| **Operating income before charges/gains** <sup>(a)</sup> | 158.3 | 181.6 | (23.3) | (12.8) | 699.4 | 780.6 | (81.2) | (10.4) |

---

(a) (d) (e) (f) (g) (h) For definitions of Non-GAAP measures, see Definitions of Terms page

------

**FORTUNE BRANDS INNOVATIONS, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS (GAAP)**

**(In millions)**

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **December 27, 2025** | **December 28, 2024** |
| **Assets** |  |  |
| &nbsp;&nbsp;Current assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $264.0 | $381.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 513.1 | 514.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | 1024.9 | 960.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other current assets | 172.2 | 151.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current assets** | 1974.2 | 2007.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment, net | 805.9 | 999.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 2006.4 | 1992.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other intangible assets, net of accumulated amortization | 1231.7 | 1297.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets held for sale | 113.8 | 3.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | 388.6 | 262.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $**6520.6** | $**6561.8** |
| **Liabilities and equity** |  |  |
| &nbsp;&nbsp;Current liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term debt | $- | $499.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 524.6 | 513.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | 547.0 | 588.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities** | 1071.6 | 1602.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term debt | 2544.9 | 2173.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 146.9 | 117.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other non-current liabilities | 368.6 | 246.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | 4132.0 | 4139.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stockholders' equity | 2388.6 | 2422.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total equity** | 2388.6 | 2422.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and equity** | $**6520.6** | $**6561.8** |

---

------

**FORTUNE BRANDS INNOVATIONS, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(In millions)**

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Fifty-Two Weeks Ended** | **Fifty-Two Weeks Ended** |
|  | **December 27, 2025** | **December 28, 2024** |
| **Operating activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $298.8 | $471.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 194.4 | 193.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-cash lease expense | 51.6 | 38.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes | 32.3 | 0.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset impairment charge | 53.6 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Other non-cash items | 21.2 | 54.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in assets and liabilities, net | (173.3) | (91.4) |
| **Net cash provided by operating activities** | $478.6 | $667.8 |
| **Investing activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures | $(111.8) | $(193.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from the disposition of assets | 6.9 | 26.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of acquisitions, net of cash acquired | - | (135.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other investing activities, net | - | (1.1) |
| **Net cash used in investing activities** | $(104.9) | $(302.9) |
| **Financing activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase in debt, net | $(130.0) | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from the exercise of stock options | 4.5 | 15.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury stock purchases | (247.8) | (240.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends to stockholders | (120.6) | (119.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other items, net | (9.4) | (18.9) |
| **Net cash provided by financing activities** | $(503.3) | $(363.4) |
| Effect of foreign exchange rate changes on cash | $11.5 | $(11.5) |
| Net increase (decrease) in cash and cash equivalents | $(118.1) | $(10.0) |
| Cash, cash equivalents and restricted cash\* at beginning of period | 385.5 | 395.5 |
| **Cash, cash equivalents and restricted cash\* at end of period** | $267.4 | $385.5 |

---

\*Restricted cash of $1.4 million and $2.0 million is included in Other current assets and Other assets, respectively, as of December 27, 2025. Restricted cash of $1.3 million and $3.1 million is included in Other current assets and Other assets, respectively, as of December 28, 2024.

------

**FORTUNE BRANDS INNOVATIONS, INC.**

**CASH FLOW FROM OPERATIONS (GAAP) TO FREE CASH FLOW AND CASH CONVERSION**

**(In millions)**

*(Unaudited)*

---

| | |
|:---|:---|
| **<u>FREE CASH FLOW</u>** | **Thirteen Weeks Ended** |
|  | **December 27, 2025** |
| **Cash flow from operations (GAAP)** | $208.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital expenditures | 24.5 |
| **Free cash flow** <sup>(i)</sup> | $183.7 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Fifty-Two Weeks Ended** | **Fifty-Two Weeks Ended** | **2026 Full Year** |
|  | **December 27, 2025** | **December 28, 2024** | **Estimate** |
| **Cash flow from operations (GAAP)** | $478.6 | $667.8 | $540 to $560 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital expenditures | $111.8 | $193.3 | $110 to $140 |
| **Free cash flow** <sup>(i)</sup> | $366.8 | $474.5 | $400 to $450 |

---

---

| | |
|:---|:---|
| **<u>CASH CONVERSION RATIO</u>** | **Fifty-Two Weeks Ended** |
|  | **December 27, 2025** |
| **Free cash flow** <sup>(i)</sup> | $366.8 |
| Net Income | $298.8 |
| **Cash conversion ratio** <sup>(k)</sup> | 122.8% |

---

(i) (k) For definitions of Non-GAAP measures, see Definitions of Terms page

------

**FORTUNE BRANDS INNOVATIONS, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF INCOME (GAAP)**

**(In millions, except per share amounts)**

*(Unaudited)*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Thirteen Weeks Ended** | **Thirteen Weeks Ended** |  | **Fifty-Two Weeks Ended** | **Fifty-Two Weeks Ended** |  |
|  | **December 27, 2025** | **December 28, 2024** | **% Change** | **December 27, 2025** | **December 28, 2024** | **% Change** |
| **Net sales** | 1077.5 | 1104.1 | (2.4) | 4463.2 | 4609.0 | (3.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of products sold | 605.3 | 596.4 | 1.5 | 2473.8 | 2542.7 | (2.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | 325.2 | 309.3 | 5.1 | 1292.1 | 1239.1 | 4.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangible assets | 18.8 | 18.0 | 4.4 | 75.2 | 73.1 | 2.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset impairment charge | 3.5 | - | NM | 53.6 | - | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges | 3.1 | 2.1 | 47.6 | 52.4 | 16.2 | 223.5 |
| **Operating income** | 121.6 | 178.3 | (31.8) | 516.1 | 737.9 | (30.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 26.8 | 27.9 | (3.9) | 115.2 | 120.5 | (4.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other (income)/expense, net | 1.6 | 17.1 | (90.6) | (4.1) | 11.9 | (134.5) |
| **Income before taxes** | 93.2 | 133.3 | (30.1) | 405.0 | 605.5 | (33.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax | 16.8 | 28.2 | (40.4) | 106.2 | 133.6 | (20.5) |
| **Net income** | 76.4 | 105.1 | (27.3) | 298.8 | 471.9 | (36.7) |
| **Diluted earnings per common share** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | 0.63 | 0.84 | (25.0) | 2.47 | 3.75 | (34.1) |
| **Diluted average number of shares outstanding** | 120.4 | 125.1 | (3.8) | 121.2 | 125.7 | (3.6) |

---

NM = Not Meaningful

------

**FORTUNE BRANDS INNOVATIONS, INC.**

**(In millions)**

*(Unaudited)*

**RECONCILIATIONS OF INCOME FROM CONTINUING OPERATIONS, NET OF TAX TO EBITDA BEFORE CHARGES/GAINS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Thirteen Weeks Ended** | **Thirteen Weeks Ended** |  | **Fifty-Two Weeks Ended** | **Fifty-Two Weeks Ended** |  |
|  | **December 27, 2025** | **December 28, 2024** | **% Change** | **December 27, 2025** | **December 28, 2024** | **% Change** |
| **Net Income** | 76.4 | 105.1 | (27.3) | 298.8 | 471.9 | (36.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation \* | 25.6 | 25.9 | (1.2) | 99.7 | 95.5 | 4.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangible assets | 18.8 | 18.0 | 4.4 | 75.2 | 73.1 | 2.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges | 3.1 | 2.1 | 47.6 | 52.4 | 16.2 | 223.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other charges/(gains) | 12.0 | 1.1 | 991.8 | 53.2 | 25.8 | 106.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;ASSA transaction expenses <sup>(d)</sup> | - | - | - | - | 0.4 | (100.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of inventory step-up <sup>(e)</sup> | - | - | - | - | 0.3 | (100.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 26.8 | 27.9 | (3.9) | 115.2 | 120.5 | (4.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset impairment charge <sup>(f)</sup> | 3.5 | - | NM | 53.6 | - | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Transformation costs <sup>(h)</sup> | - | - | - | 3.0 | - | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Manufacturing facility fire <sup>(g)</sup> | 18.1 | - | NM | 21.1 | - | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Defined benefit plan actuarial losses/(gains) | - | 18.9 | (100.0) | - | 18.6 | (100.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes | 16.8 | 28.2 | (40.4) | 106.2 | 133.6 | (20.5) |
| **EBITDA before charges/gains** <sup>(c)</sup> | 201.1 | 227.2 | (11.5) | 878.4 | 955.9 | (8.1) |

---

\* Depreciation excludes accelerated depreciation expense of $(1.8) million for the thirteen weeks ended December 27, 2025, and $19.3 million for the fifty-two weeks ended December 27, 2025. Accelerated depreciation is included in restructuring and other charges/gains. Depreciation excludes accelerated depreciation expense of $2.4 million for the thirteen weeks ended December 28, 2024, and $25.0 million for the fifty-two weeks ended December 28, 2024. Accelerated depreciation is included in restructuring and other charges/gains.

**CALCULATION OF NET DEBT-TO-EBITDA BEFORE CHARGES/GAINS RATIO**

---

| | |
|:---|:---|
| **As of December 27, 2025** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term debt \*\* | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term debt \*\* | 2544.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total debt | 2544.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents \*\* | 264.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net debt (1) | $2280.9 |
| **For the fifty-two weeks ended December 27, 2025** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;EBITDA before charges/(gains) (2) <sup>(c)</sup> | $878.4 |
| **Net debt-to-EBITDA before charges/gains ratio (1/2)** | 2.6 |

---

\*\* Amounts are per the Unaudited Condensed Consolidated Balance Sheet as of December 27, 2025.

(c) (d) (e) (f) (g) (h) For definitions of Non-GAAP measures, see Definitions of Terms page

NM = Not Meaningful

------

**RECONCILIATION OF DILUTED EPS FROM CONTINUING OPERATIONS BEFORE CHARGES/GAINS**

For the thirteen weeks ended December 27, 2025, the diluted EPS before charges/gains is calculated as income from continuing operations on a diluted per-share basis, excluding $3.1 million ($2.3 million after tax or $0.02 per diluted share) of restructuring charges, $12.0 million ($9.1 million after tax or $0.08 per diluted share) of other charges/gains, $3.5 million ($2.6 million after tax or $0.02 per diluted share) asset impairment charges and $18.1 million ($13.4 million after tax or $0.11 per diluted share) of manufacturing facility fire.

For the fifty-two weeks ended December 27, 2025, the diluted EPS before charges/gains is calculated as income from continuing operations on a diluted per-share basis, excluding $52.4 million ($40.2 million after tax or $0.33 per diluted share) of restructuring charges, $53.2 million ($39.9 million after tax or $0.33 per diluted share) of other charges/gains, $53.6 million ($40.2 million after tax or $0.33 per diluted share) asset impairment charges, $21.1 million ($15.7 million after tax or $0.13 per diluted share) of manufacturing facility fire and $3.0 million ($2.0 million after tax or $0.02 per diluted share) of transformation costs.

For the thirteen weeks ended December 28, 2024, the diluted EPS before charges/gains is calculated as income from continuing operations on a diluted per-share basis, excluding $2.2 million ($1.6 million after tax or $0.01 per diluted share) of restructuring charges, $1.1 million ($0.9 million after tax or $0.01 per diluted share) of other charges/gains and $18.8 million ($14.4 million after tax or $0.11 per diluted share) of defined benefit plan actuarial losses.

For the fifty-two weeks ended December 28, 2024, the diluted EPS before charges/gains is calculated as income from continuing operations on a diluted per-share basis, excluding $16.2 million ($12.3 million after tax or $0.1 per diluted share) of restructuring charges, $25.8 million ($20.1 million after tax or $0.16 per diluted share) of other charges/gains and $18.6 million ($14.2 million after tax or $0.11 per diluted share) of defined benefit plan actuarial losses.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Thirteen Weeks Ended** | **Thirteen Weeks Ended** |  | **Fifty-Two Weeks Ended** | **Fifty-Two Weeks Ended** |  |
|  | **December 27, 2025** | **December 28, 2024** | **% Change** | **December 27, 2025** | **December 28, 2024** | **% Change** |
| **Earnings per common share (EPS) - Diluted** |  |  |  |  |  |  |
| **Diluted EPS from continuing operations (GAAP)** | 0.63 | 0.84 | (25.0) | 2.47 | 3.75 | (34.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges | 0.02 | 0.01 | 100.0 | 0.33 | 0.10 | 230.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other charges/(gains) | 0.08 | 0.02 | 300.0 | 0.33 | 0.16 | 106.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset impairment charge <sup>(f)</sup> | 0.02 | - | NM | 0.33 | - | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manufacturing facility fire <sup>(g)</sup> | 0.11 | - | NM | 0.13 | - | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transformation costs <sup>(h)</sup> | - | - | - | 0.02 | - | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Defined benefit plan actuarial (losses)/gains | - | 0.11 | (100.0) | - | 0.11 | (100.0) |
| Diluted EPS from continuing operations before charges/gains <sup>(b)</sup> | 0.86 | 0.98 | (12.2) | 3.61 | 4.12 | (12.4) |

---

(b) (f) (g) (h) For definitions of Non-GAAP measures, see Definitions of Terms page

NM = Not Meaningful

------

**FORTUNE BRANDS INNOVATIONS, INC.**

**(In millions, except per share amounts)**

*(Unaudited)*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Thirteen Weeks Ended** | **Thirteen Weeks Ended** |  | **Fifty-Two Weeks Ended** | **Fifty-Two Weeks Ended** |  |
|  | **December 27, 2025** | **December 28, 2024** | **% Change** | **December 27, 2025** | **December 28, 2024** | **% Change** |
| **Net sales (GAAP)** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Water | 616.8 | 644.6 | (4.3) | 2447.6 | 2564.6 | (4.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outdoors | 294.9 | 303.0 | (2.7) | 1323.0 | 1350.1 | (2.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Security | 165.8 | 156.5 | 5.9 | 692.6 | 694.3 | (0.2) |
| **Total net sales** | 1077.5 | 1104.1 | (2.4) | 4463.2 | 4609.0 | (3.2) |
| **Operating income (loss)** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Water | 137.1 | 151.4 | (9.4) | 542.2 | 595.1 | (8.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outdoors | 23.7 | 54.1 | (56.2) | 83.5 | 198.0 | (57.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Security | 13.5 | 13.9 | (2.9) | 79.9 | 100.4 | (20.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate expenses | (52.7) | (41.1) | (28.2) | (189.5) | (155.6) | (21.8) |
| **Total operating income (GAAP)** | 121.6 | 178.3 | (31.8) | 516.1 | 737.9 | (30.1) |
| **<u>OPERATING INCOME BEFORE CHARGES/GAINS RECONCILIATION</u>** | **<u>OPERATING INCOME BEFORE CHARGES/GAINS RECONCILIATION</u>** | **<u>OPERATING INCOME BEFORE CHARGES/GAINS RECONCILIATION</u>** |  |  |  |  |
| **Total operating income (GAAP)** | 121.6 | 178.3 | (31.8) | 516.1 | 737.9 | (30.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges <sup>(1)</sup> | 3.1 | 2.2 | 42.7 | 52.4 | 16.2 | 223.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other charges/(gains) <sup>(2)</sup> | 12.0 | 1.1 | 990.9 | 53.2 | 25.8 | 106.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASSA transaction expenses <sup>(d)</sup> | - | - | - | - | 0.4 | (100.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of inventory step-up <sup>(e)</sup> | - | - | - | - | 0.3 | (100.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset impairment charges <sup>(f)</sup> | 3.5 | - | 100.0 | 53.6 | - | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transformation costs <sup>(h)</sup> | - | - | - | 3.0 | - | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manufacturing facility fire <sup>(g)</sup> | 18.1 | - | 100.0 | 21.1 | - | NM |
| **Operating income (loss) before charges/gains** <sup>(a)</sup> | 158.3 | 181.6 | (12.8) | 699.4 | 780.6 | (10.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Water | 140.6 | 152.5 | (7.8) | 570.5 | 603.8 | (5.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outdoors | 41.8 | 55.2 | (24.3) | 175.6 | 218.0 | (19.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Security | 22.2 | 14.6 | 52.1 | 104.9 | 111.9 | (6.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate expenses | (46.3) | (40.7) | (13.8) | (151.6) | (153.1) | 1.0 |
| **Total operating income before charges/gains** <sup>(a)</sup> | 158.3 | 181.6 | (12.8) | 699.4 | 780.6 | (10.4) |

---

(1)Restructuring charges are primarily attributable to costs associated with the decision to consolidate our U.S. regional offices into one campus headquarters and related organizational and personnel changes, a product-line rationalization within our Outdoors segment and plant closures within our Water and Security segments, totaled $3.1 million for the thirteen weeks ended December 27, 2025 and $52.4 million for the fifty-two weeks ended December 27, 2025. Restructuring charges, which include costs incurred for product-line rationalization within our Outdoors segment, costs associated with the previously announced closure of a manufacturing facility within our Security segment and headcount actions across all segments, totaled $2.2 million and $16.2 million for the thirteen and fifty-two weeks ended December 28, 2024, respectively.

(2)Other charges/(gains) represent costs that are directly related to restructuring initiatives but cannot be reported as restructuring costs under GAAP. These costs can include losses from disposing of inventories, trade receivables allowances from discontinued product lines, accelerated depreciation due to the closure of facilities, gains or losses from selling previously closed facilities. During the thirteen weeks and fifty-two weeks ended December 27, 2025, total other charges were $12.0 million and $53.2 million. For the thirteen and fifty-two weeks ended December 28, 2024, total other charges were $1.1 million and $25.8 million, respectively.

(a) (d) (e) (f) (g) (h) For definitions of Non-GAAP measures, see Definitions of Terms page

NM = Not Meaningful

------

**FORTUNE BRANDS INNOVATIONS, INC.**

**OPERATING MARGIN TO OPERATING MARGIN BEFORE CHARGES/GAINS**

*(Unaudited)*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Thirteen Weeks Ended** | **Thirteen Weeks Ended** |  | **Fifty-Two Weeks Ended** | **Fifty-Two Weeks Ended** |  |
|  | **December 27, 2025** | **December 28, 2024** | **Change** | **December 27, 2025** | **December 28, 2024** | **Change** |
| **WATER** |  |  |  |  |  |  |
| **Operating margin** <sup>(j)</sup> | 22.2% | 23.5% | (130) bps | 22.2% | 23.2% | (100) bps |
| &nbsp;&nbsp;&nbsp;Restructuring charges | 0.1% | 0.2% |  | 0.9% | 0.2% |  |
| &nbsp;&nbsp;&nbsp;Other charges/(gains) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of products sold | (0.1%) | - |  | - | 0.1% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | - | - |  | 0.1% | - |  |
| &nbsp;&nbsp;&nbsp;Asset impairment charge <sup>(f)</sup> | 0.6% | - |  | 0.1% | - |  |
| **Operating margin before charges/gains** <sup>(j)</sup> | 22.8% | 23.7% | (90) bps | 23.3% | 23.5% | (20) bps |
| **OUTDOORS** |  |  |  |  |  |  |
| **Operating margin** <sup>(j)</sup> | 8.0% | 17.9% | (990) bps | 6.3% | 14.7% | (840) bps |
| &nbsp;&nbsp;&nbsp;Restructuring charges | 0.2% | - |  | 0.4% | 0.4% |  |
| &nbsp;&nbsp;&nbsp;Other charges/(gains) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of products sold | (0.1%) | 0.3% |  | 0.6% | 1.0% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | - | - |  | 0.5% | - |  |
| &nbsp;&nbsp;&nbsp;Asset impairment charge <sup>(f)</sup> | - | - |  | 3.9% | - |  |
| &nbsp;&nbsp;&nbsp;Manufacturing facility fire <sup>(g)</sup> | 6.1% | - |  | 1.6% | - |  |
| **Operating margin before charges/gains** <sup>(j)</sup> | 14.2% | 18.2% | (400) bps | 13.3% | 16.1% | (280) bps |
| **SECURITY** |  |  |  |  |  |  |
| **Operating margin** <sup>(j)</sup> | 8.1% | 8.9% | (80) bps | 11.5% | 14.5% | (300) bps |
| &nbsp;&nbsp;&nbsp;Restructuring charges | 0.2% | 0.4% |  | 1.1% | 0.5% |  |
| &nbsp;&nbsp;&nbsp;Other charges/(gains) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of products sold | (0.2%) | - |  | 0.5% | 1.1% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | 5.3% | - |  | 2.0% | - |  |
| **Operating margin before charges/gains** <sup>(j)</sup> | 13.4% | 9.3% | 410 bps | 15.1% | 16.1% | (100) bps |
| **TOTAL COMPANY** |  |  |  |  |  |  |
| **Operating margin** <sup>(j)</sup> | 11.3% | 16.1% | (480) bps | 11.6% | 16.0% | (440) bps |
| &nbsp;&nbsp;&nbsp;Restructuring charges | 0.3% | 0.2% |  | 1.2% | 0.4% |  |
| &nbsp;&nbsp;&nbsp;Other charges/(gains) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of products sold | (0.2%) | 0.1% |  | 0.3% | 0.5% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | 1.3% | - |  | 0.9% | - |  |
| &nbsp;&nbsp;&nbsp;Asset impairment charge <sup>(f)</sup> | 0.3% | - |  | 1.1% | - |  |
| &nbsp;&nbsp;&nbsp;Transformation costs <sup>(h)</sup> | - | - |  | 0.1% | - |  |
| &nbsp;&nbsp;&nbsp;Manufacturing facility fire <sup>(g)</sup> | 1.7% | - |  | 0.5% | - |  |
| **Operating margin before charges/gains** <sup>(j)</sup> | 14.7% | 16.4% | (170) bps | 15.7% | 16.9% | (120) bps |

---

(f) (g) (h) (j) For definitions of Non-GAAP measures, see Definitions of Terms page

------

**FORTUNE BRANDS INNOVATIONS, INC.**

**RECONCILIATION OF GAAP NET SALES TO NET SALES EXCLUDING THE IMPACT OF CHINA SALES**

*(Unaudited)*

---

| | |
|:---|:---|
|  | **Thirteen Weeks Ended December 27, 2025 vs Thirteen Weeks Ended December 28, 2024** |
|  | **% Change** |
| **Water** |  |
| **Percentage change in net sales (GAAP)** | **(4.3%)** |
| &nbsp;&nbsp;&nbsp;Excluding China sales | **3.7%** |
| **Net sales excluding impact of China** <sup>(l)</sup> | **(0.6%)** |
|  | **Thirteen Weeks Ended December 27, 2025 vs Thirteen Weeks Ended December 28, 2024** |
|  | **% Change** |
| **Total Company** |  |
| **Percentage change in net sales (GAAP)** | **(2.4%)** |
| &nbsp;&nbsp;&nbsp;Excluding China sales | **2.2%** |
| **Net sales excluding impact of China** <sup>(l)</sup> | **(0.2%)** |

---

---

| | |
|:---|:---|
|  | **Fifty-Two Weeks Ended December 27, 2025 vs Fifty-Two Weeks Ended December 28, 2024** |
|  | **% Change** |
| **Water** |  |
| **Percentage change in net sales (GAAP)** | **(4.6%)** |
| &nbsp;&nbsp;&nbsp;Excluding China sales | **3.3%** |
| **Net sales excluding impact of China** <sup>(l)</sup> | **(1.3%)** |
|  | **Fifty-Two Weeks Ended December 27, 2025 vs Fifty-Two Weeks Ended December 28, 2024** |
|  | **% Change** |
| **Total Company** |  |
| **Percentage change in net sales (GAAP)** | **(3.2%)** |
| &nbsp;&nbsp;&nbsp;Excluding China sales | **1.9%** |
| **Net sales excluding impact of China** <sup>(l)</sup> | **(1.3%)** |

---

(l) For definitions of Non-GAAP measures, see Definitions of Terms page

------

**Definitions of Terms: Non-GAAP Measures**

(a) Operating income (loss) before charges/gains is calculated as operating income derived in accordance with GAAP, excluding restructuring and other charges/gains. Operating income (loss) before charges/gains is a measure not derived in accordance with GAAP. Management uses this measure to evaluate the returns generated by the Company and its business segments. Management believes this measure provides investors with helpful supplemental information regarding the underlying performance of the Company from period to period. This measure may be inconsistent with similar measures presented by other companies.

(b) Diluted earnings per share from continuing operations before charges/gains is calculated as income from continuing operations on a diluted per-share basis, excluding restructuring and other charges/gains. This measure is not in accordance with GAAP. Management uses this measure to evaluate the Company's overall performance and believes it provides investors with helpful supplemental information about the Company's underlying performance from period to period. However, this measure may not be consistent with similar measures presented by other companies.

(c) EBITDA before charges/gains is calculated as income from continuing operations, net of tax in accordance with GAAP, excluding depreciation, amortization of intangible assets, restructuring and other charges/gains, interest expense and income taxes. EBITDA before charges/gains is a measure not derived in accordance with GAAP. Management uses this measure to assess returns generated by the Company. Management believes this measure provides investors with helpful supplemental information about the Company's ability to fund internal growth, make acquisitions and repay debt and related interest. This measure may be inconsistent with similar measures presented by other companies.

(d) At Corporate, other charges also include expenditures of $0.4 million in the fifty-two weeks ended December 28, 2024, respectively for external banking, legal, accounting, and other similar services directly related to our ASSA transaction.

(e) For the fifty-two weeks ended December 28, 2024, the amortization of inventory step-up associated with the acquisition of the ASSA business was $0.3 million within our Water segment.

(f) For the thirteen and fifty-two weeks ended December 27, 2025, impairment charges of $3.5 million and $53.6 million were recorded related to the classification of certain assets to equal their fair value, less estimated costs to sell.

(g) For the thirteen and fifty-two weeks ended December 27, 2025, we recognized $18.1 million and $21.1 million of losses, net of probable insurance recoveries, related to a fire at one of our manufacturing facilities within the Outdoors segment.

(h) For the fifty-two weeks ended December 27, 2025, professional fees incurred related to ongoing transformation initiatives was $3.0 million at Corporate.

(i) Free cash flow is cash flow from operations calculated in accordance with U.S. generally accepted accounting principles ("GAAP") less capital expenditures. Free cash flow does not include adjustments for certain non-discretionary cash flows such as mandatory debt repayments. Free cash flow is a measure not derived in accordance with GAAP. Management believes that free cash flow provides investors with helpful supplemental information about the Company's ability to fund internal growth, make acquisitions, repay debt and related interest, pay dividends and repurchase common stock. This measure may be inconsistent with similar measures presented by other companies.

(j) Operating margin is calculated as the operating income in accordance with GAAP, divided by the GAAP net sales. The operating margin before charges/(gains) is calculated as the operating income, excluding restructuring and other charges/gains, divided by the GAAP net sales. The operating margin before charges/gains is not a measure derived in accordance with GAAP. Management uses this measure to evaluate the returns generated by the Company and its business segments. Management believes that this measure provides investors with helpful supplemental information about the Company's underlying performance from period to period. However, this measure may not be consistent with similar measures presented by other companies.

(k) Cash conversion ratio is free cash flow divided by net income calculated in accordance with GAAP. Cash conversion ratio is a measure not derived in accordance with GAAP. Management believes that cash conversion ratio provides investors with helpful supplemental information about the Company's ability to fund internal growth, make acquisitions, repay debt and related interest, pay dividends and repurchase common stock. This measure may be inconsistent with similar measures by other companies.

(l) Net sales excluding the impact of China sales is net sales derived in accordance with GAAP excluding the impact of China sales. Management uses this measure to evaluate the overall performance of its segments and believes this measure provides investors with helpful supplemental information regarding the underlying performance of the Company and its reportable segments from period to period. This measure may be inconsistent with similar measures presented by other companies.

------

**Additional Information:**

For certain forward-looking non-GAAP measures (as used in this press release, operating margin before charges / gains on a full Company and segment basis, EPS before charges / gains and free cash flow), the Company is unable to provide a reconciliation to the most comparable GAAP financial measure because the information needed to reconcile the non-GAAP financial measure to the GAAP financial measure is unavailable due to the inherent difficulty of forecasting the timing and / or amount of various items that have not yet occurred, including the high variability and low visibility with respect to gains and losses associated with our defined benefit plans, which are excluded from EPS before charges / gains, and restructuring and other charges, which are excluded from operating margin before charges / gains and EPS before charges / gains. Additionally, estimating such GAAP measures and providing a meaningful reconciliation consistent with the Company's accounting policies for future periods requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort. Forward-looking non-GAAP measures are estimated consistent with the relevant definitions and assumptions.

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## Exhibit 99.2

**EXHIBIT 99.2**

![img16841573_0.gif](img16841573_0.gif)

**Fortune Brands Innovations Appoints Amit Banati as CEO**

*Nicholas Fink to Pursue Another Professional Opportunity After 11-Year Career with Fortune Brands, Including 6 Years as CEO*

**DEERFIELD, Ill –** February 12, 2026 – Fortune Brands Innovations, Inc. (NYSE: FBIN or "Fortune Brands" or the "Company"), today announced that its Board of Directors (the "Board") has appointed Amit Banati as Chief Executive Officer, effective May 13, 2026. Banati will succeed Nicholas Fink, who will depart from his role as Chief Executive Officer and as a member of the FBIN Board on April 1, 2026, to pursue a professional opportunity outside the Company. Susan Kilsby, Chair of the Board, will serve as Executive Chair effective February 12, 2026, and take on the duties of the office of the CEO during the brief transition period, after which time she will return to her role as Non-executive Chair of the Board.

"It has been my enormous privilege to serve as CEO of Fortune Brands for the last six years. I've been offered a new and unique professional opportunity that comes at a natural turning point for both me and Fortune Brands," said Fink.

"I am deeply grateful to all our associates and proud of what we've accomplished – transforming our Company to leverage our unique strengths in branding, innovation, and complex channels, while making important structural changes to support future growth. Now that the foundations of this transformation are in place, Fortune Brands is moving into a new chapter centered on disciplined execution, further optimization, and capitalizing on the substantial upside ahead. I am confident that Amit is the right person to lead Fortune Brands forward," continued Fink.

Banati has extensive management, financial and strategic leadership experience with leading consumer products companies, including Kenvue, Kellanova, Mondelez, Cadbury Schweppes and Procter & Gamble. He has served as Chief Financial Officer of Kenvue since May 2025. Prior to joining Kenvue, he served as Vice Chair and Chief Financial Officer of Kellanova (formerly Kellogg Company), and held various roles of increasing responsibility with Kellogg Company, including Senior Vice President and Chief Financial Officer and President for Asia Pacific, Middle East and Africa. Banati has served on the Fortune Brands Board for nearly six years and has been Chair of the Audit Committee since May 2024. Banati will continue serving as a member of the Board of Fortune Brands.

"Amit has a proven ability to drive results and bring strategic clarity, operational rigor, and a brand- and customer-first mindset," said Kilsby. "Amit's appointment is the result of a comprehensive succession planning process conducted by the Board. His experience as a Board member and Audit Committee chair, combined with his expertise in managing renowned brands and guiding complex organizations with discipline and precision, makes him highly qualified to lead Fortune Brands. We are confident that Amit will advance the Company's strategic priorities and leverage Fortune Brands Advantage Capabilities to create outstanding opportunities for all stakeholders."

------

Banati commented, "I am truly excited to lead this exceptional Company at such a pivotal moment in its evolution. Fortune Brands has a powerful portfolio of brands, a strong foundation of innovation, and a talented team that is deeply committed to excellence. I look forward to working more closely with our associates, customers, partners, and shareholders to continue growing our brands, advancing our work in innovative, industry-leading products, and creating long term, sustainable shareholder value. With a clear strategy in place, my focus will be on disciplined execution and driving the next phase of performance and growth for the Company."

Kilsby continued, "On behalf of the Board, I want to extend our deep gratitude to Nick for his exceptional leadership as CEO over the past six years – a period marked by significant external volatility. Through it all, he provided a visionary approach that transformed the business in meaningful and lasting ways. His commitment to leveraging the Company's strengths, modernizing our capabilities, and positioning us for long-term growth has left a powerful and positive imprint on the organization. We are profoundly grateful for his dedication, passion, and unwavering belief in the potential of our people and our strategy."

**<u>About Amit Banati</u>** 

Amit Banati joined the Fortune Brands Board of Directors in September 2020. Banati is a highly accomplished executive with more than 35 years of financial and operations management experience in global consumer products companies. Banati has a proven track record in driving growth across U.S. and global markets with deep experience in both commercial and financial roles. He has served as Chief Financial Officer of Kenvue, Inc., since May 2025. Prior to joining Kenvue, he served as Vice Chair and Chief Financial Officer of Kellanova (formerly Kellogg Company), from December 2022 until May 2025. He joined Kellogg Company in 2011 as President for Asia Pacific, Middle East and Africa, where he drove regional growth and major business transformations until July 2019 when he was promoted to Senior Vice President and Chief Financial Officer. Before joining Kellogg Company, he held significant management, financial and strategic leadership roles at several major consumer products companies, including Kraft Foods/Mondelez, Cadbury Schweppes, and Procter & Gamble. Banati holds a Bachelor of Commerce from St. Xavier's College in Calcutta, India and a Masters of Business Administration from the Indian Institute of Management in Lucknow, India.

**<u>About Fortune Brands Innovations</u>**

Fortune Brands Innovations, Inc. (NYSE: FBIN) is an industry-leading home, security and digital products company whose purpose is to elevate every life by transforming spaces into havens. The Company makes innovative products for residential and commercial environments, with a growing focus on digital solutions and products that add luxury, contribute to safety and enhance sustainability. The Company's trusted brands include Moen, House of Rohl, Aqualisa, SpringWell, Therma-Tru, Larson, Fiberon, Master Lock, SentrySafe and Yale residential. Learn more at <u>www.fbin.com</u>.

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**CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS**

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief or expectations for our business, operations, financial performance or financial condition in addition to statements regarding expected impacts from organizational and leadership changes, our expectations for the markets in which we operate, general business strategies, the market potential of our brands, and other matters that are not historical in nature. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," "outlook," "positioned," "confident," "opportunity," "focus," "on track" and similar expressions or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is based on current expectations, estimates, assumptions and projections of our management about our industry, business and future financial results, available at the time this press release is issued. Although we believe that these statements are based on reasonable assumptions, they are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those indicated in such statements, including but not limited to: (i) our reliance on the North American and Chinese home improvement, repair and remodel and new home construction activity levels, (ii) the housing market, downward changes in the general economy, unfavorable interest rates or other business conditions, (iii) the competitive nature of consumer and trade brand businesses, (iv) our ability to execute on our strategic plans and the effectiveness of our strategies in the face of business competition, (v) our reliance on key customers and suppliers, including wholesale distributors and dealers and retailers, (vi) risks relating to rapidly evolving technological change, (vii) risks associated with our ability to improve organizational productivity and global supply chain efficiency and flexibility, (viii) risks associated with global commodity and energy availability and price volatility, as well as the possibility of sustained inflation, (ix) delays or outages in our information technology systems or computer networks or breaches of our information technology systems or other cybersecurity incidents, (x) risks associated with doing business globally, including changes in trade-related tariffs (including recent U.S. tariffs announced or imposed on China, Canada, Mexico and other countries and any reciprocal actions taken by such countries) and risks with uncertain trade environments, (xi) risks associated with the disruption of operations, including as a result of severe weather events, (xii) our inability to obtain raw materials and finished goods in a timely and cost-effective manner, (xiii) risks associated with strategic acquisitions, divestitures and joint ventures, including difficulties integrating acquired companies and the inability to achieve the expected financial results and benefits of transactions, (xiv) impairments in the carrying value of goodwill or other acquired intangible assets, (xv) risks of increases in our defined benefit-related costs and funding requirements, (xvi) our ability to attract and retain qualified personnel and other labor constraints, (xvii) the effect of climate change and the impact of related changes in government regulations and consumer preferences, (xviii) risks associated with environmental, social and governance matters, (xix) potential liabilities and costs from claims and litigation, (xx) changes in government and industry regulatory standards, (xxi) future tax law changes or the interpretation of existing tax laws,

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and (xxii) our ability to secure and protect our intellectual property rights. These and other factors are discussed in Part I, Item 1A "Risk Factors" of our Annual Report on Form 10-K for the year ended December 28, 2024. We undertake no obligation to, and expressly disclaim any such obligation to, update or clarify any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, new information or changes to future results over time or otherwise, except as required by law.

Source: Fortune Brands Innovations, Inc.

INVESTOR CONTACT:

Curt Worthington

Investor.Questions@fbin.com

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