Mattel Q2: EPS $0.08 vs $0.18, sales -12%; COO Dickson steps down Aug 3

MATTEL REPORTS SECOND QUARTER 2023 FINANCIAL RESULTS Second Quarter 2023 Highlights Versus Prior Year • Net Sales of $1,087 million, down 12% as reported, or 13% in constant currency • Gross Margin of 45.1%, an increase of 70 basis points; Adjusted Gross Margin of 44.9%, flat to the prior year • Operating Income of $63 million, a decrease of $62 million; Adjusted Operating Income of $75 million, a decrease of $47 million • Net Income of $27 million compared to prior year Net Income of $66 million • Earnings per Share of $0.08 compared to prior year Earnings per Share of $0.18; Adjusted Earnings per Share of $0.10 compared to prior year Adjusted Earnings per Share of $0.18 • Adjusted EBITDA of $148 million, a decrease of $37 million • Repurchased $16 million of shares, bringing first half total to $50 million • Company reiterates 2023 guidance

On July 21, 2023, Mattel’s President and Chief Operating Officer, Richard Dickson, informed the Company that he will step down from his position effective August 3, 2023 to take the role of president and chief executive officer at another public company.