Krispy Kreme® Announces Expansion into Estonia

Advances goal of adding three to four new markets in 2026 through capital-light international franchise growth

CHARLOTTE, N.C. - Krispy Kreme, Inc. (NASDAQ: DNUT) ("Krispy Kreme" or the "Company") today announced an agreement with Apollo Group to bring Krispy Kreme to Estonia, with the country's first shop expected to open in late 2026.

The first Hot Light Theater Shop in Estonia will feature the brand's iconic Hot Light experience and serve as both a retail location and a production hub to support future planned expansion in the market. The Company expects to open approximately 25 locations over the next four years across the Baltic States.

"We're excited to bring Krispy Kreme's fresh, iconic doughnuts to Estonia in partnership with Apollo Group, an experienced restaurant operator with strong knowledge of the local market," said Krispy Kreme CEO Josh Charlesworth. "This marks an important step in our continued expansion in Europe and reinforces our commitment to sustainable, profitable growth through our capital-light franchise model."

The Company continues to progress toward its goal of opening at least 100 shops globally and adding three to four new international markets in 2026, including Estonia, as it works with experienced franchise operators to bring the joy that is Krispy Kreme to more people in more places around the world.

About Krispy Kreme
Headquartered in Charlotte, NC, Krispy Kreme is one of the most beloved and well-known sweet treat brands in the world. Our iconic Original Glazed® doughnut is universally recognized for its hot-off-the-line, melt-in-your-mouth experience. Krispy Kreme operates in more than 40 countries through its unique network of fresh doughnut shops, partnerships with leading retailers, and a rapidly growing digital business. Our purpose of touching and enhancing lives through the joy that is Krispy Kreme guides how we operate every day and is reflected in the love we have for our people, our communities and the planet. Connect with Krispy Kreme Doughnuts at www.KrispyKreme.com, or on one of its many social media channels, including www.Facebook.com/KrispyKreme and www.X.com/KrispyKreme.

About Apollo Group
Apollo Group, part of MM Grupp, was founded in 2000 and has grown into the largest entertainment and restaurant business in the Baltic states, also operating in Finland. The group includes well-known brands such as Apollo Kino, Apollo Bookstore, Blender, Ice Cafe, Vapiano, KFC, Lido, MySushi, CanCan, and Delano. Apollo Club, the group's loyalty program, brings together more than one million loyal members.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including with relation to our business, prospects, future plans and strategies, and growth. Forward-looking statements can be identified by the use of forward-looking terminology, including terms such as "plan," "expect," "continue," "will," or comparable terminology. Forward-looking statements are not a representation by us that the future plans, estimates, or expectations contemplated by us will be achieved. Many factors could cause our actual results to differ materially from those contained in forward-looking statements including, without limitation: food safety issues, including risks of food-borne illnesses, tampering, contamination, and cross-contamination; impacts from any material failure, inadequacy, or interruption of our information technology systems, including breaches or failures of such systems or other cybersecurity or data security-related incidents; our ability to execute our business strategy, including our turnaround plan and growth through international development with strategic partners and profitable expansion of our fresh delivery and digital channels; our ability to realize the anticipated benefits from past or potential future strategic transactions (including refranchising); failure by our franchisees, subfranchisees, or third-party service providers to operate effectively and in compliance with our standards and applicable law; any harm to our reputation or brand image; negative impacts on our business due to changes in consumer spending habits, consumer preferences, or demographic trends; our ability to open new and maintain existing shops and points of access both domestically and internationally; disruptions to our and our franchisees' supply chain, including the loss of or failure to perform by single-source or limited suppliers, vendors, distributors, or manufacturers; our significant indebtedness and our ability to meet the financial and other covenants under our credit facilities; changes in the cost of raw materials and fuel or other commodities, including due to import and export requirements (including tariffs), inflation, fluctuations in foreign exchange rates, or heightened geopolitical tensions (including the recent Iran conflict); our ability to recruit and retain key personnel; failure to develop or maintain effective internal control over financial reporting or disclosure controls and procedures; adverse regulatory actions or publicity concerning food or occupational safety, food quality, health, and other issues or regulatory investigations, enforcement actions, or material litigation; and other risks and uncertainties described under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 28, 2025, filed by us with the Securities and Exchange Commission (the "SEC") and in other filings we make from time to time with the SEC. These forward-looking statements are made only as of the date of this document, and we undertake no obligation to publicly update or revise any forward-looking statement whether as a result of new information, future events, or otherwise, except as may be required by law.

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