CINCINNATI, OH - The Kroger Co. will host an Investor Update in New York, where company leaders will outline a multi-year plan to build America's Favorite Grocer and accelerate growth. The company also reiterates its guidance for full-year 2026 provided at its second-quarter earnings.

Comments from CEO Greg Foran

"Kroger has a clear opportunity to unlock our full potential and build America's Favorite Grocer," said Greg Foran, CEO of Kroger. "We are making value more visible and focusing resources closer to the customer where we see the highest returns. With our customers at the center, we are simplifying and modernizing our business to deliver a great customer experience and provide long-term value to our shareholders."

Building America's Favorite Grocer

Kroger's updated strategy centers on three pillars, with a clear focus on execution and the customer at the center.

• Win With the Customer: Kroger will deliver more value for customers through a self-funded plan. The company will invest in areas of strength, including Fresh and meals, grow Our Brands penetration and Boost membership, and expand into markets where it sees attractive returns.
• Drive Profitable Digital Growth: Kroger expects to grow eCommerce sales and Retail Media revenue, winning more of customers' online shopping and accelerating growth in Kroger Precision Marketing.
• Modernize How We Operate: Kroger expects to generate savings through more direct sourcing, disciplined purchasing, streamlined processes and a more scalable operating model, with technology and AI improving execution. These savings will fuel greater customer value and fund growth across the business.

Kroger's Long-Term Financial Framework

Kroger is introducing an updated financial framework intended to give investors a clearer view of the performance of its core grocery business. The company is targeting:

• Approximately 3% comparable sales growth in 2029, excluding fuel and pharmacy;
• 3%-6% adjusted EBITDA CAGR for FY2027 through FY2029; and
• 7%-11% adjusted net EPS CAGR for FY2027 through FY2029.

The new EPS target measures earnings growth alone. It replaces the previous 8%-11% total shareholder return target, which included the dividend yield, and implies a stronger earnings outlook. The company's capital allocation strategy remains unchanged and focused on making high-return growth investments, maintaining financial strength and returning surplus capital to shareholders via dividends, subject to board approval, and share buybacks.

"Our financial framework reflects our renewed focus on the core grocery business and provides a clearer line of sight from operating performance to shareholder value," said David Kennerley, CFO of Kroger, in the recent release. "We are targeting higher sales by 2029, with stronger adjusted EBITDA and adjusted EPS growth over the next three years. We remain focused on delivering customer value in a fully self-funded way, prioritizing high-return investments and disciplined cost savings so we can expand margins over time while continuing to invest in growth."

Investor Update

Kroger's 2026 Investor Update will include presentations from members of the company's leadership team on customer value, eCommerce, Retail Media, store execution, operations and the company's long-term financial framework.

The live webcast of the event is scheduled to begin at 9:00 a.m. ET and is expected to conclude at approximately 12:00 p.m. ET. All interested parties are invited to access the webcast at ir.kroger.com under Events & Presentations.

An on-demand replay of the webcast and presentation materials will be available on Kroger's investor relations website following the event.

MONTEREY, CA - The California Agricultural Leadership Foundation (CALF) announces Dr. Joel Kimmelshue (Class 37) as its new board chair, succeeding Mike Young (Class 35) following the completion of Young’s term. Joining Kimmelshue on the foundation’s executive board are Fidela Irigoyen (Class 21) as vice chair and Rob Goff (Class 45) as secretary-treasurer.

The transition comes as CALF begins implementing its 2026–2031 strategic plan, which outlines priorities for developing leaders, engaging alumni, expanding awareness of the foundation’s impact and strengthening its financial future.

Young’s tenure as chair capped more than 20 years of service on the foundation’s board, preceded by involvement with its Alumni Council. A steadfast advocate for Ag Leadership, he helped strengthen the foundation, advance its mission, and shape a vision for its future. His dedication, generosity, and belief in the power of leadership development have left a lasting mark on the organization and the generations of agricultural leaders it serves.

Kimmelshue is owner and principal agricultural scientist at Land IQ. As a member of the team that helped shape the foundation’s new strategic plan, he steps into the chair role with a clear understanding of its priorities and the partnerships needed to achieve them.

“When asked to consider being the board chair for the California Agricultural Leadership Foundation, not only was I humbled and honored, but I also had great excitement for the opportunities the Foundation, the Program, and our alumni base have moving forward; specifically, those opportunities outlined in our new 5-year strategic plan,” Kimmelshue said in the recent release. “To help facilitate and lead the quest for those plan milestones and goals is a challenge taken seriously. I greatly look forward to working with Foundation staff, fellow Board members, alumni, current and future class members, and the growing number of supporters in not just meeting, but hopefully exceeding those expectations.”

Together, Kimmelshue, Irigoyen and Goff will work with the board to advance the foundation’s mission of growing leaders who make a difference.