Slide 1: Celsius Holdings, Inc. CAGNY Investor Presentation
C E L S I U S H O L D I N G S , I N C . | C A G N Y I N V E S T O R P R E S E N TAT I O N PRESENTATION In conjunction with moderate fitness activity, Celsius is clinically proven to accelerate metabolism and burn body fat
Slide 2: Forward-Looking Statements
Forward-Looking Statements This investor presentation contains statements by Celsius Holdings, Inc. (“Celsius”, “we”, “us”, “our” or the “Company”) that are not historical facts and are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Slide 3: John Fieldly
JOHN FIELDLY
Slide 4: Themes: large and growing TAM, category disruptor, growth strategy
THEMES LARGE AND GROWING TAM - CATEGORY DISRUPTOR - COMPELLING GROWTH STRATEGY - Portfolio of disruptive, premium brands driving the functional beverage category with unparalleled innovation capabilities Effective strategy and innovation to reach more people, in more places, more often Attractively
Slide 5: On a mission to inspire people to live fit
THE WORLD’S MOST ON A MISSION TO INSPIRE PEOPLE TO LIVE FIT WITH THE ENERGY TO ACHIEVE THEIR GOALS 5
Slide 6: At a Glance
AT A GLANCE PRODUCT LINES: CORE | VIBE | ESSENTIALS ON THE GO POWDERS | HYDRATION GROWTH BRAND IN RTD ENERGY1 RETAIL SALES IN THE U.S.1 FY 2024 FINANCIAL HIGHLIGHTSA CATEGORY GROWTH LEADER • Revenue: $1.36B • Gross Margin: 50.2% • Net Income: $145M • Adjusted EBITDA: $256M • Adjusted EBITDA Margin:
Slide 7: #2 LRB growth brand with retail sales +22.6% in 2024
#2 LRB GROWTH BRAND WITH RETAIL SALES +22.6% IN 2024 2020 2021 2022 2023 2024 LRB Rank 90 46 22 11 9 $ Sales (MM) $140 $413 $1,009 $2,214 $2,715 NOTES: Circana TOTAL U.S. Bev & RTD ENERGY MULO+ W/C Ending 12.29.2024 | Private Label represents an aggregate of all private label brands and is not repre
Slide 8: Deliberate and strategic actions to establish category leadership
DELIBERATE AND STRATEGIC ACTIONS TO ESTABLISH CATEGORY LEADERSHIP BRAND ACCELERATION FOUNDED INTERNATIONAL LAUNCH MODERNIZED BRANDING WITH WHITE CAN LAUNCH VIBE LINE LAUNCHES NEW DISTRIBUTION MODEL WITH PEPSICO INITIATED DRILL DEEP MARKET STRATEGY ENERGY FORWARD UPDATED CAN LAUNCHED HYDRATION AGREEM
Slide 9: Backed by Science
BACKED BY SCIENCE GREEN TEA EXTRACT GUARANA SEED EXTRACT GINGER ROOT VITAMIN B VITAMIN C CHROMIUM P R E M I U M B R A N D I F U N C T I O N A L I N G R E D I E N T S I Z E R O S U G A R KEY ATTRIBUTES: • No Sugar • No High Fructose Corn Syrup • No Aspartame • No Artificial Colors or Flavors • Very L
Slide 10: More consumers are rapidly seeking functional energy
OVER THE LAST 20 YEARS... MORE CONSUMERS ARE RAPIDLY SEEKING 20 years ago Male dominated Predominately young Thrill seekers Niche Gender balanced Age balanced Lifestyle and functional focused Mainstream 10
Slide 11: The energy drink category growth
THE ENERGY DRINK CATEGORY GROWTH NOTES: Circana Total U.S. MULO+ W/C ANNUAL RTD ENERGY $ SALES ENDED 12.29.24 SUGAR FREE HAS OUTPACED SUGAR OVER THE PAST FIVE YEARS… 11 $8.8B $9.8B $10.3B $11.1B $11.2B 2.5% 5.8% 11.7% 20.6% 23.1% $5.6B $7.1B $8.6B $10.7B $11.7B Sugar Sugar Free Sugar Sugar Free Suga
Slide 12: Celsius retail sales and contribution to category growth
ENERGY DRINK CATEGORY $0.14 $0.41 $1.01 $2.21 $2.70 2020 2021 2022 2023 2024 4.3% 9.9% 24.8% 32.2% 30.3% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2021 2022 2023 2024 CELSIUS RETAIL SALES ACROSS TRACKED CHANNELS1 (MULO+ W/C | BILLIONS) CELSIUS CONTRIBUTION TO CATEGORY GR
Slide 13: Strong competitive advantages
Function, backed by science A category leader in the growing health, wellness & fitness segment1 Differentiated sales & marketing approach creates significant demand Continuous innovation with the introduction of new flavors & products Loyal consumer base Strong brand affinity 1 2 3 4 5 6 Best in cl
Slide 14: Strategy: people, places, often
STRATEGY PEOPLE PLACES OFTEN ATTRACTING NEW CONSUMERS INTO THE ENERGY CATEGORY EXPANDING PRODUCT AVAILABILITY INCREASING CONSUMPTION FREQUENCY U ND E RP INNE D BY O P E R AT I O N A L E XC E L L E N C E 14
Slide 15: People
PEOPLE Invest strategically in marketing focused on maximizing ROI, including plans to launch national healthy-halo campaign in 2025 Reach more consumers through Drill Deep strategy and international expansion in 2025 and beyond Accelerate innovation pipeline to further drive category growth Bring i
Slide 16: Places
PLACES Increase shelf space and cold presence in other channels such as retail, food service, recreational, lodging & restaurants, etc. Enhance & expand e-commerce initiatives & presence & increasing brand awareness Strengthen retail presence through enhanced distribution partnership with PepsiCo 16
Slide 17: Often
OFTEN Position our products to be consumed across a wide range of day parts and occasions beyond traditional energy drink usage Expand into adjacent categories and accelerate our commitment to becoming a part of consumers' daily routines Increase incremental consumption occasions like meal-time by e
Slide 18: Creating a leading better-for-you, functional lifestyle platform
CELSIUS CREATING A LEADING BETTER-FOR-YOU, FUNCTIONAL LIFESTYLE PLATFORM 18
Slide 19: Alani Nu
ALANI NU GROWING, PROFITABLE HEALTH & WELLNESS LIFESTYLE BRAND WITH DIVERSE FUNCTIONAL PORTFOLIO & LOYAL FEMALE FOLLOWING HIGHLY PROFITABLE MODEL WITH SYNERGY UPSIDE - $137mm 2024A fully synergized EBITDA1 23% margin GROWTH AT SCALE - $595mm 2024A Net Sales growing at ~50% CAGR from 2022-24A UNIQUE
Slide 20: Strategic rationale
STRATEGIC RATIONALE CREATES A LEADING BETTER-FOR-YOU, FUNCTIONAL LIFESTYLE PLATFORM AT THE INTERSECTION OF CONSUMER MEGATRENDS COMBINES TWO GROWING, SCALED ENERGY BRANDS WITH CLEAR CATEGORY TAILWINDS COMPLEMENTARY BRAND POSITIONING AND ATTRACTIVE CONSUMER DEMOGRAPHICS, EXPECTED TO DRIVE INCREMENTAL
Slide 21: Platform at the intersection of consumer megatrends
PLATFORM AT THE INTERSECTION OF CONSUMER MEGATRENDS SOURCE: Company information, Circana NOTES: Represents preliminary, unaudited 2024 Alani financials 1. Represents 2024A combined company Pro-Forma sales 2. Combined company Pro-Forma category share based on Circana, MULO+ W/C RTD Energy LTM as of F
Slide 22: With clear category tailwinds
WITH CLEAR CATEGORY TAILWINDS $489 $409 $324 $156 $92 $25 $16 ($22) ($71) DRIVING TRANSFORMATION OF US RTD ENERGY DRINK CATEGORY TRACKED RETAIL SALES 2024 YOY DOLLAR GROWTH1 LONG-TERM TAILWINDS IN ENERGY $90bn 2024 Global Energy Drink Category3 10% 2024-29 Global Energy Drink Category CAGR3 Increasi
Slide 23: Energy & beyond RTD share
ENERGY & BEYOND BEYOND RTD 11.0 SHARE1 4.8 SHARE1 15.8 SHARE NOTES: 1. Circana U.S. MULO+ W/C, RTD Energy L4W ended 1/26/25 2. Celsius announced agreement to acquire Alani Nu on February 20, 2025. Closing is currently expected in Q2, subject to regulatory approval and other customary closing conditi
Slide 24: Thesis
A leading portfolio of premium, lifestyle energy & hydration beverages with strong & growing consumer demand for functional & better-for-you, sugar-free energy solutions THESIS 1 2 3 4 5 Robust brand equity & awareness with opportunities to expand, driven by targeted marketing initiatives & a loyal
Slide 25: Kyle Watson
KYLE WATSON
Slide 26: Annual operating plan | Marketing
2 0 2 5 A N N U A L O P E R AT I N G P L A N | M A R K E T I N G MARKETING LIVE FIT IN WE DO REPLACE WITH NEW IMAGE
Slide 27: Consumer
CONSUMER • GENDER BALANCED1 • 54% Female | 46% Male • HIGH RESONANCE WITH MILLENNIALS & GEN-Z2 • 111 Index with Millennials • 112 Index with Gen-Z • HIGHER HOUSEHOLD INCOME2 • 10 pt higher Index than category • MORE INTERESTED IN FITNESS, HEALTH & WELLNESS3 • SEEKING BETTER-FOR-YOU OPTIONS3 • MORE O
Slide 28: Consumers are loyal
ARE LOYAL SOURCE: Circana Syndicated Omnichannel Panel SS ENERGY DRINKS NON-ASEPTIC L52W Ended 12.29.24 +1.5M -1.2M -0.3% +1.2% -4% -9% REPEAT BUYERS V YA TRIPS PER BUYER V YA EXCLUSIVE HOUSEHOLDS IN 2024 28Third-party brand names, logos, and trademarks appearing in this presentation are the propert
Slide 29: Demand generation, engagement and brand growth
DEMAND GENERATION, ENGAGEMENT AND POWERFUL BRAND GROWTH SOCIAL MEDIA MONTHLY VIDEO VIEWS SOCIAL MEDIA MONTHLY IMPRESSIONS SOCIAL MEDIA TOTAL FOLLOWERS 29
Slide 30: Audience is growing
AUDIENCE IS GROWING SOURCE: Circana Total U.S. Panel Data, SS ENERGY DRINKS NON-ASEPTIC L52W Ended 12.29.24 35,500,000 35,600,000 35,700,000 35,800,000 35,900,000 36,000,000 36,100,000 36,200,000 36,300,000 36,400,000 36,500,000 36,600,000 11 /1 /2 02 3 12 /1 /2 02 3 1/ 1/ 20 24 2/ 1/ 20 24 3/ 1/ 20
Slide 31: Leverage targeted marketing to increase brand awareness
LEVERAGE TARGETED MARKETING STRATEGIES TO BROADER CONSUMER BASE 0 10 20 30 40 50 60 70 80 90 COMPETITOR AVERAGE* SOURCE: Yougov Brand Index Beverages Sector Moving Avg L28 Days Ended 2.11.25 *Competitors include Red Bull and Monster TO INCREASE BRAND AWARENESS BRAND AWARENESS 31 MAXIMIZE SOCIAL PRES
Slide 32: Demographics expected to drive incremental category growth
DEMOGRAPHICS, EXPECTED TO DRIVE INCREMENTAL CATEGORY GROWTH TARGET AUDIENCE Gender-neutral, performance- driven with broad appeal to fitness enthusiasts and beyond Female-focused, lifestyle-oriented for consumers seeking a fun, approachable brand Functionality for athletes and fitness-focused indivi
Slide 33: Grow strategy
GROW UH STRATEGY C S nud (nual (nn "~ | > © rm w
Slide 34: People: acquiring new users
PEOPLE ACQUIRING NEW USERS TO OUR BRAND & THE CATEGORY, INCLUDING GEN Z, MILLENNIAL & HISPANIC AUDIENCES 34
Slide 35: Places: showing up where core audience is
PLACES SHOWING UP IN PLACES & SPACES WHERE OUR CORE AUDIENCE TARGETS ARE 35
Slide 36: Often: more consumption opportunities
OFTEN BUILDING CONSUMER RELEVANCE & EXCITEMENT THROUGH MORE CONSUMPTION OPPORTUNITIES 36 Note: These images do not contain alcohol. These images are for illustrative purposes only and do not imply a current or ongoing relationship between the respective third parties and Celsius Holdings, Inc.
Slide 37: Innovation is the foundation of our strategy
INNOVATION IS THE FOUNDATION OF OUR STRATEGY SIGNIFICANT WHITESPACE FOR FURTHER INNOVATION IN ADJACENT CATEGORIES WITHIN AND BEYOND RTD 37
Slide 38: Jarrod Langhans
A_JARROD <Q LANGHANS
Slide 39: More people, more places, more often driving shareholder value
More People: Attracting new consumers into the energy drink category and converting existing energy users to Celsius More Places: Expanding product availability More Often: Increasing consumption frequency Driving EBITDA margin through operational excellence initiatives, designed to deliver strong c
Slide 40: Operational excellence
Boosted innovation and production capabilities with the acquisition of Big Beverages Contract Manufacturing in Nov. 2024 EXCELLENCE Driving innovation, global procurement, supply chain and global marketing through our Center of Excellence Investing in technology and AI-assisted tools to drive sales
Slide 41: Terms: Alani Nu acquisition valuation
TERMS - ALANI NU REPRESENTS ATTRACTIVE VALUATION OF LESS THAN 3x ALANI NU 2024A REVENUE AND APPROXIMATELY 12x FULLY SYNERGIZED ALANI NU 2024A ADJUSTED EBITDA1 Leadership continuity with TSA and consulting agreements in place at closing to help ensure a seamless integration process ~8.7% PRO-FORMA OW
Slide 42: Cash EPS accretive in year one with synergy opportunity
EPS ACCRETIVE IN YEAR ONE WITH MEANINGFUL SYNERGY OPPORTUNITY $1.4 $2.0 $256 $393 INCREASED TOPLINE SCALE (2024A NET SALES, $ IN BILLIONS) STRONG PRO-FORMA PROFITABILITY (2024A ADJ. EBITDA, $ IN MILLIONS) $50mm Clearly Identified Cost Synergies with Additional Upside1 Expected to be Cash EPS Accreti
Slide 43: Capital allocation
OPPORTUNISTIC M&A • Invest strategically in innovation & marketing initiatives designed to accelerate organic growth & maximize productivity • Strengthen our capabilities & expertise, & cement a foundation for sustainable growth MAINTAIN STRONG BALANCE SHEET & DEBT PAYDOWN • Evaluate potential oppor
Slide 44: Themes: large and growing TAM, category disruptor, growth strategy
THEMES LARGE AND GROWING TAM - CATEGORY DISRUPTOR - COMPELLING GROWTH STRATEGY - Portfolio of disruptive, premium brands driving the functional beverage category with unparalleled innovation capabilities Effective strategy and innovation to reach more people, in more places, more often Attractively
Slide 45: Appendix
C E L S I U S H O L D I N G S , I N C . | C A G N Y I N V E S T O R P R E S E N TAT I O N APPENDIX
Slide 46: Financial Information
FINANCIAL INFORMATION 46 The following table presents summary historical and unaudited pro forma condensed consolidated financial data for Celsius and Alani Nu, which are based on (i) Celsius’ unaudited financial statements for the year ended December 31, 2024, and (ii) Alani Nu’s preliminary estima
Slide 47: Pro-Forma EBITDA Schedule
PRO-FORMA EBITDA SCHEDULE 1 Selling, general and administrative expenses related to employee non-cash stock-based compensation expense. Stock-based compensation expense consists of non-cash charges for the estimated fair value of unvested restricted share unit and stock option awards granted to empl
Slide 48: Valuation Metrics
VALUATION METRICS The company reports financial results in accordance with generally accepted accounting principles in the United States (“GAAP”), but management believes that disclosure of Adjusted EBITDA, a non-GAAP financial measures that management uses to assess our performance, may provide use