Leases

9 Months Ended

Mar. 29, 2026

Balance Sheet

Lease assets and liabilities are as follows:


(in millions of U.S. Dollars)	Successor	Predecessor
Operating Leases:	March 29, 2026	June 29, 2025
Right-of-use asset (1)	$98.3	$123.1

Current lease liability (2)	7.4	9.9
Non-current lease liability (3)	100.5	139.5
Total operating lease liabilities	$107.9	$149.4

Finance Leases:
Finance lease assets (4)	$2.1	$8.3

Current portion of finance lease liabilities(5)	0.3	0.5
Finance lease liabilities, less current portion(6)	1.8	8.4
Total finance lease liabilities	$2.1	$8.9

(1) Within other assets on the consolidated balance sheets.

(2) Within other current liabilities on the consolidated balance sheets.

(3) Within other long-term liabilities on the consolidated balance sheets.

(4) Within property and equipment, net on the consolidated balance sheets.

(5) Within finance lease liabilities on the consolidated balance sheets.

(6) Within finance lease liabilities - long term on the consolidated balance sheets.

Statements of Operations

Successor

Predecessor

(in millions of U.S. Dollars)

Three months ended March 29, 2026

Three months ended March 30, 2025

Operating lease expense

$5.1

$4.3

Finance lease amortization

0.2


	Successor	Predecessor
(in millions of U.S. Dollars)	Period from September 30, 2025 to March 29, 2026	Period from June 30, 2025 to September 29, 2025	Nine months ended March 30, 2025
Operating lease expense	$10.0	4.3	$12.4
Finance lease amortization	0.3	0.2	0.6

Interest expense for finance leases was immaterial for all periods presented.

Cash Flows

Cash flow information consisted of the following (1):


	Successor	Predecessor
(in millions of U.S. Dollars)	Period from September 30, 2025 to March 29, 2026	Period from June 30, 2025 to September 29, 2025	Nine months ended March 30, 2025
Cash (used in) provided by operating activities from continuing operations:
Cash paid for operating leases	($10.8)	($4.1)	($4.0)

Cash paid for interest portion of financing leases	(0.1)	(0.1)	(0.1)
Cash used in financing activities:
Cash paid for principal portion of finance leases	(0.3)	(0.1)	(0.1)

(1) See Note 1, "Basis of Presentation and New Accounting Standards," for non-cash activities related to leases.

Lease Liability Maturities

Maturities of operating and finance lease liabilities as of March 29, 2026 were as follows:


(in millions of U.S. Dollars)	Successor
Fiscal Year Ending	Operating Leases	Finance Leases	Total
June 28, 2026 (remainder of fiscal 2026)	$5.6	$0.2	$5.8
June 27, 2027	18.2	0.4	18.6
June 25, 2028	17.8	0.2	18.0
June 24, 2029	17.2	0.2	17.4
June 30, 2030	16.0	0.2	16.2
Thereafter	130.7	13.7	144.4
Total lease payments	205.5	14.9	220.4

Imputed lease interest	(97.6)	(12.8)	(110.4)
Total lease liabilities	$107.9	$2.1	$110.0

Supplemental Disclosures

Remaining weighted average lease terms and discount rate operating and finance lease liabilities as of March 29, 2026 were as follows:


	Successor
	Operating Leases		Finance Leases
Weighted average remaining lease term (in months) (1)	145		450
Weighted average discount rate (2)	11.76	%	13.83	%

(1) Weighted average remaining lease term of finance leases without the 49-year ground lease is 8 months.

(2) Weighted average discount rate of finance leases without the 49-year ground lease is 7.43%.

Leases

Balance Sheet

Lease assets and liabilities are as follows:


(in millions of U.S. Dollars)	Successor	Predecessor
Operating Leases:	March 29, 2026	June 29, 2025
Right-of-use asset (1)	$98.3	$123.1

Current lease liability (2)	7.4	9.9
Non-current lease liability (3)	100.5	139.5
Total operating lease liabilities	$107.9	$149.4

Finance Leases:
Finance lease assets (4)	$2.1	$8.3

Current portion of finance lease liabilities(5)	0.3	0.5
Finance lease liabilities, less current portion(6)	1.8	8.4
Total finance lease liabilities	$2.1	$8.9

(1) Within other assets on the consolidated balance sheets.

(2) Within other current liabilities on the consolidated balance sheets.

(3) Within other long-term liabilities on the consolidated balance sheets.

(4) Within property and equipment, net on the consolidated balance sheets.

(5) Within finance lease liabilities on the consolidated balance sheets.

(6) Within finance lease liabilities - long term on the consolidated balance sheets.

Statements of Operations

Successor

Predecessor

(in millions of U.S. Dollars)

Three months ended March 29, 2026

Three months ended March 30, 2025

Operating lease expense

$5.1

$4.3

Finance lease amortization

0.2


	Successor	Predecessor
(in millions of U.S. Dollars)	Period from September 30, 2025 to March 29, 2026	Period from June 30, 2025 to September 29, 2025	Nine months ended March 30, 2025
Operating lease expense	$10.0	4.3	$12.4
Finance lease amortization	0.3	0.2	0.6

Interest expense for finance leases was immaterial for all periods presented.

Cash Flows

Cash flow information consisted of the following (1):


	Successor	Predecessor
(in millions of U.S. Dollars)	Period from September 30, 2025 to March 29, 2026	Period from June 30, 2025 to September 29, 2025	Nine months ended March 30, 2025
Cash (used in) provided by operating activities from continuing operations:
Cash paid for operating leases	($10.8)	($4.1)	($4.0)

Cash paid for interest portion of financing leases	(0.1)	(0.1)	(0.1)
Cash used in financing activities:
Cash paid for principal portion of finance leases	(0.3)	(0.1)	(0.1)

(1) See Note 1, "Basis of Presentation and New Accounting Standards," for non-cash activities related to leases.

Lease Liability Maturities

Maturities of operating and finance lease liabilities as of March 29, 2026 were as follows:


(in millions of U.S. Dollars)	Successor
Fiscal Year Ending	Operating Leases	Finance Leases	Total
June 28, 2026 (remainder of fiscal 2026)	$5.6	$0.2	$5.8
June 27, 2027	18.2	0.4	18.6
June 25, 2028	17.8	0.2	18.0
June 24, 2029	17.2	0.2	17.4
June 30, 2030	16.0	0.2	16.2
Thereafter	130.7	13.7	144.4
Total lease payments	205.5	14.9	220.4

Imputed lease interest	(97.6)	(12.8)	(110.4)
Total lease liabilities	$107.9	$2.1	$110.0

Supplemental Disclosures

Remaining weighted average lease terms and discount rate operating and finance lease liabilities as of March 29, 2026 were as follows:


	Successor
	Operating Leases		Finance Leases
Weighted average remaining lease term (in months) (1)	145		450
Weighted average discount rate (2)	11.76	%	13.83	%

(1) Weighted average remaining lease term of finance leases without the 49-year ground lease is 8 months.

(2) Weighted average discount rate of finance leases without the 49-year ground lease is 7.43%.

Leases

Balance Sheet

Lease assets and liabilities are as follows:


(in millions of U.S. Dollars)	Successor	Predecessor
Operating Leases:	March 29, 2026	June 29, 2025
Right-of-use asset (1)	$98.3	$123.1

Current lease liability (2)	7.4	9.9
Non-current lease liability (3)	100.5	139.5
Total operating lease liabilities	$107.9	$149.4

Finance Leases:
Finance lease assets (4)	$2.1	$8.3

Current portion of finance lease liabilities(5)	0.3	0.5
Finance lease liabilities, less current portion(6)	1.8	8.4
Total finance lease liabilities	$2.1	$8.9

(1) Within other assets on the consolidated balance sheets.

(2) Within other current liabilities on the consolidated balance sheets.

(3) Within other long-term liabilities on the consolidated balance sheets.

(4) Within property and equipment, net on the consolidated balance sheets.

(5) Within finance lease liabilities on the consolidated balance sheets.

(6) Within finance lease liabilities - long term on the consolidated balance sheets.

Statements of Operations

Successor

Predecessor

(in millions of U.S. Dollars)

Three months ended March 29, 2026

Three months ended March 30, 2025

Operating lease expense

$5.1

$4.3

Finance lease amortization

0.2


	Successor	Predecessor
(in millions of U.S. Dollars)	Period from September 30, 2025 to March 29, 2026	Period from June 30, 2025 to September 29, 2025	Nine months ended March 30, 2025
Operating lease expense	$10.0	4.3	$12.4
Finance lease amortization	0.3	0.2	0.6

Interest expense for finance leases was immaterial for all periods presented.

Cash Flows

Cash flow information consisted of the following (1):


	Successor	Predecessor
(in millions of U.S. Dollars)	Period from September 30, 2025 to March 29, 2026	Period from June 30, 2025 to September 29, 2025	Nine months ended March 30, 2025
Cash (used in) provided by operating activities from continuing operations:
Cash paid for operating leases	($10.8)	($4.1)	($4.0)

Cash paid for interest portion of financing leases	(0.1)	(0.1)	(0.1)
Cash used in financing activities:
Cash paid for principal portion of finance leases	(0.3)	(0.1)	(0.1)

(1) See Note 1, "Basis of Presentation and New Accounting Standards," for non-cash activities related to leases.

Lease Liability Maturities

Maturities of operating and finance lease liabilities as of March 29, 2026 were as follows:


(in millions of U.S. Dollars)	Successor
Fiscal Year Ending	Operating Leases	Finance Leases	Total
June 28, 2026 (remainder of fiscal 2026)	$5.6	$0.2	$5.8
June 27, 2027	18.2	0.4	18.6
June 25, 2028	17.8	0.2	18.0
June 24, 2029	17.2	0.2	17.4
June 30, 2030	16.0	0.2	16.2
Thereafter	130.7	13.7	144.4
Total lease payments	205.5	14.9	220.4

Imputed lease interest	(97.6)	(12.8)	(110.4)
Total lease liabilities	$107.9	$2.1	$110.0

Supplemental Disclosures

Remaining weighted average lease terms and discount rate operating and finance lease liabilities as of March 29, 2026 were as follows:


	Successor
	Operating Leases		Finance Leases
Weighted average remaining lease term (in months) (1)	145		450
Weighted average discount rate (2)	11.76	%	13.83	%

(1) Weighted average remaining lease term of finance leases without the 49-year ground lease is 8 months.

(2) Weighted average discount rate of finance leases without the 49-year ground lease is 7.43%.