August | 2021
2
We are making some forward looking statements today that use words like“outlook” or “target” or similar predictive words.
Such forward looking statements involve risks and uncertainties detailed in our recent periodic reports as filed in accordance with the Securities and Exchange Act of 1934. These risks and uncertainties may cause actual results to differ materially from our statements today.
Non-GAAP Financial Measures: The Company has utilized non-GAAP financial measures in this release, which are provided to assist readers' understanding of the Company's results of operations. These amounts exclude certain items that at times materially impact the comparability of the Company's results of operations. The adjusted information is intended to be indicative of the Company's primary operations, and to assist readers in evaluating performance and analyzing trends across periods by providing what the Company believes is a useful measure for predictive purposes.
These results should be considered in addition to, not as a substitute for, results reported in accordance with GAAP. The non-GAAP financial measures include comparisons related to profit and exclude: • gains from the sale of property, plant and equipment and other real estate related operations • insurance settlement gains or significant charges related to casualty losses caused by significant weather events, fires or similar circumstances • exit or disposal cost obligations related to rationalizing supply chain operations and other re-engineering activities performed to wind-down or significantly restructure businesses, including cumulative translation adjustments recognized in income upon liquidation of operations in a country, asset sales or fixed asset impairments, inventory obsolescence and other operating losses incurred in conjunction with such activities• certain asset retirement obligations • pension settlements • significant discrete impacts of new tax laws upon adoption, including the impact on cumulative deferred taxes from items previously recorded as cumulative translation adjustments• amortization of definite-lived intangible assets • non-cash impairment charges related to the carrying value of acquired intangible assets and goodwill• infrequent costs incurred in connection with a change in capital structure• the impact from hyper-inflationary economies on net monetary assets and other balance sheet positions that impact near term income• non-recurring costs associated with the turnaround plan
Visit www.tupperwarebrands.com
Forward Looking Statement
It all started with Chemist Earl Tupper and a paint can 75 years ago
Revolutionized the way food is prepped, saved and stored for the world
Brownie Wise spearheaded the innovative marketing model
Continue obsession with innovative, functional and environmentally responsible solutions that people love and trust
Tupperware History
4
$1.7b
in 2020 annual sales
We are modernizing and expanding into new channels and opportunities to meet consumers wherever they shop
580k
active sales force worldwide
Tupperware is available in
70
countries
Tupperware continues to innovate for the benefit of people and our planet by creating eco- friendly solutions.
8,500
functional design and utility patents
Tupperware Today (TUP)
Our Why
Every day we nurture a better future
Our How
Through an obsession with designing innovative,
functional and environmentally responsible products
Our What
Lifetime-use products people love and trust
Tupperware Brands Purpose
6
Why Tupperware
Brands (TUP)
Iconic Brand
An iconic global brand with a long history and significant name recognition that consumers have trusted in their homes for over seven decades across the globe
Turnaround Plan Underway
• New Organizational Structure
• Rightsizing the Company’s cost structure
• New Capital Allocation policy – enhance liquidity
• Repositioning the Company with a realistic growth strategy grounded in industry-leading products Our Growth Strategy
• Digital Enhancement
• Product Innovation
• Increased Access Points
• Broader distribution
Contemporizing a leading household name to become a global leader in sustainable consumer solutions through product innovation, operational efficiencies, and an experienced management team.
Investment Thesis
8
Turnaround
Turnaround Plan Plan
2020
Stabilize
Hired new management team with direct selling and omni-channel experience Refinanced debt
Delivered $192M cost savings
Right-sized the business Q3 and Q4 +20% local currency sales growth EBITDA growth +46%
2021 Foundation 2022
Expansion 2023
Acceleration
Turnaround Plan
10
Miguel Fernandez
President and Chief Executive Officer
Sandra Harris
Chief Financial Officer and Chief Operations Officer
Patricio Cuesta
President Commercial, Worldwide
Hector Lezama
President
Commercial Business Expansion
Deep direct selling and omni-channel experience
Proven turnaround success
Strong combination of institutional knowledge and outside perspective
– Front-end and Back-end Focus Shared sense of urgency to implement turnaround
Other leadership changes in Human Resources, Information Technology, Marketing and Supply Chain
Proven Management Team Leading the Turnaround
1. Organize a party 2. Share brochure 3. Demonstration 4. Capture order 5. Order
6. Pick, Pack & Ship 7. Collect
Direct Selling Evolution
HISTORICAL
1. Influencer
2. Digitally marketing 3. E-business platform
• Order
• Payment
• Customer Support 4. Last-mile distribution 5. Brand ambassador 6. Service/Customize
FUTURE
Embracing change to grow business
Social networking E-commerce
Online business
Online payment
12
Achieved
$192 M
cost savings in FY 2020
*$145M to annualize in 2021
Stabilized the Business
Improved liquidity allows incremental investment
in 2021 of
$40-45 M
Refinanced
$600M
senior secured notes with $275M of term loan debt
Reduced debt
$289M
in 2020 from
$991M (Q1 2020) to
$702M (Q4 2020)
Balance @ $644M Q2
2021Achieved leverage ratio of 2.1x
by Q1 2021
from 4.9x
in Q2 2021
1
stHalf 2020 Q3 Actuals Q4 Actuals
Sales vs. LY
% change - Restated
$773M
-13%
$477M
+21%
$490M
+20%
GAAP EPS / Adjusted $1.14 / $0.94 $0.65 / $1.20 $0.41 / $0.14
EBITDA &
Leverage Ratio
$164M 4.9x
$207M 3.7x
$235M 3.0x
• Excluding Adjustments, Q4 Pre-Tax Income
improved 183%from $24 million to $68 million
• Achieved $72 million of Turnaround Cost Savings in the Fourth Quarter of 2020; $192 million for full-year
2020 Financial Results | Stabilized the Business
14
2020
Stabilize
Hired new management team with direct selling and omni-channel experience Refinanced debt
Delivered $192M cost savings
Right-sized the business Q3 and Q4 +20% local currency sales growth EBITDA growth +46%
2021 Foundation 2022
Expansion
Service
Segmentation/ Preferred Customer – direct selling Significant Digital Investments Product Innovation Investment Channel expansion/sub brand Build talent
2023 Acceleration
Turnaround Plan
Moving into new channels requires
intentional branding and channel focus
BRAND
Single Master Brand
Master Brand +
Sub-Brands by Channel
2020
CONSUMER
Salesforce
Consumer + Salesforce
Personas
CHANNELS
Direct Selling
Omni-Channel
CATEGORIES
Kitchen
Wherever Consumer
Permits
INNOVATION
Mostly In-House
In-House
& Agile (External)
ENGAGEMENT
Catalogue
Content (Omni-Channel)
PLANET
Reusable
Circular Economy:
Reusable + Recycled,
Upcycled
Our Opportunity is to Increase Consumer Brand Access
2021
16
FROM OUR HERITAGE
Enabling and Protecting Our Direct Selling Channel
TO OUR FUTURE
A Consumer Centric, Omnichannel
& Multi-experience Ecosystem
BRAND SUB-BRAND
CHANNEL PRODUCT
CONSUMER
PRICE Direct Selling
Marketplace
Retail E-Commerce
(DTC)
Intention Experience Relationship
CONSUMER CONSULTANTS
+ Focus
- Focus
STRATEGIC STEPS TO GET THERE
While Protecting Our Direct Selling Business
Deep understanding of Consumer Needs/ Expectations and the channel requirements to provide them a Remarkable Experience.
A Omnichannel Strategy that protects our traditional business, and meets consumers where, and how, they want to buy.
A Brand Architecture that will incorporate a set of brands and sub-brands that will, facilitate consumers to navigate on an easy way our value proposition by channel, price, product and experience.
Well defined Business Rules for each sub-brand, to accelerate growth through a Brand Strategy designed with intent.
Product Strategy to balance innovation and well established product differentiation by channel.
DIGITAL DATA
18
Digital Tool Expansion
Powered by
BOOST
DIGITAL TOOLS
Onto the next
challenge!
YTD QUARTER 2021
Sales vs. LY
% change - Restated
$925M +15%
GAAP EPS / Adjusted
$1.53 / $1.78TTM EBITDA Leverage Ratio*
$377M 2.1x
YTD 2021 Results | Setting Foundation
• Excluding Adjustments, YTD Pre-Tax Income
improved 100%from
$70 million to $139 million
• $67M YTD debt prepayment on the
term loan
• Board approved $250M
Share Repurchase Program20
2020
Stabilize
Hired new management team with direct selling and omni-channel experience Refinanced debt
Delivered $192M cost savings
Right-sized the business Q3 and Q4 +20% local currency sales growth EBITDA growth +46%
2021 Foundation 2022
Expansion
Service
Segmentation/ Preferred Customer – direct selling Significant Digital Investments Product Innovation Investment Channel expansion/sub brand Build talent
Expand business opportunity to sell – gold and silver pricing rollout
Competitive Preferred Customer Loyalty Programs Service better than benchmark Continue omni-channel
expansion
Service new channels at optimal cost
Business Expansion makes significant revenue contribution Best in class part-time
opportunity in the gig economy Best in class Preferred
Customer program in the market – selling experiences Continued Investment in innovation
Tailored service with competitive costs
2023 Acceleration
Turnaround Plan
Sustainability
Commitment
22
Our Why
Every day we nurture a better future
Our How
Through an obsession with designing innovative,
functional and environmentally
responsible productsOur What
Lifetime-use
products people love and trust
Tupperware Brands Purpose
ENVIRONMENTAL
Our Commitment to ESG
SOCIAL GOVERNANCE
• Increased investment in environmental programs
• Announced collaboration with TerraCycle’s Loop
• Improving sustainability footprint across packaging and recyclable materials
• Earning opportunity was critical to society during the COVID-19 pandemic
• U.S. associates and sales force teams supported First Responders and healthcare staff through
donations
• Continue partnerships with notable organizations like the World Central Kitchen to reduce single-use plastic in disaster relief
• Board of Directors includes 40% women members
• Strong code of conduct, ethical sourcing and insure a safe and inclusive work environment for all associates
• Among Newsweek’s America’s Most Responsible Companies for 2021
24
Tied to Our Purpose: National Park Foundation Sponsorship
• Commitment to support efforts to keep parks fresh across the National Park System and enhance environmental stewardship
• Pledged $1 million to the National Park Foundation to educate,
provide solutions to, and raise awareness of waste reduction
and reusable products.
For more information, contact:
Jane Garrard
Vice President, Investor Relations