Slide 1: Quarterly Summary Q4 2025
Quarterly Summary Q4 2025 April 9, 2026 PAGE 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain information in this presentation contains forward-looking information. This information is based on management’s reasonable assumptions and beliefs in light of the information currently available to us and are made as of April 9, 2026. Actual results and the timing
Slide 3: Our Roots
Our Roots Roots was founded in 1973 by Michael Budman and Don Green, who met at summer camp in Algonquin Park, where they first fell in love with the ideals and beauty of Canada. Starting from a little cabin, they were inspired by nature and Canada's wilderness to create Roots. With its uncompromisi
Slide 4: Iconic Canadian Brand with a Global Community
Iconic Canadian Brand with a Global Community 1 Rich heritage of delivering high-quality, versatile and stylish products to customers that span all ages and genders High-Quality, Versatile, Purpose-Driven Products 2 Mix of iconic classics and new pieces that resonate with customers Omni-Channel Stra
Slide 5: Financial Overview
Financial Overview • Q4 Sales of $115.5M, a 4.2% increase year-over-year o DTC sales were $107.0M, compared to $101.2M last year o DTC comparable sales growth was +7.3%, or 14.8% on a two-year stacked basis • Full year sales of $277.7M, up 5.6% year-over-year • Record full year gross margin of 61.3%
Slide 6: Product Highlights
Product Highlights • Growth in the quarter was led by our Cloud Fleece collection which doubled in sales year-over-year. Our Activewear category also delivered double-digit growth. • Our second Wicked collaboration with Universal Studios in the quarter also generated a very positive customer respons
Slide 7: Brand & Customer Engagement in Q4
Brand & Customer Engagement in Q4 • During our most important selling season, our marketing efforts focused on driving brand awareness and strong customer engagement. • A highlight this quarter was the launch of our “Anything Roots” holiday campaign, featuring Seth Rogen, which aligned strongly with
Slide 8: Operational Initiatives
Operational Initiatives • Our omnichannel strategy, compelling product curation, and authentic brand storytelling continued to resonate with our customers and drove strong positive results. • Retail store conversion improved year-over-year through investments in visual merchandising, sales associate
Slide 9: Q4 Sales Summary
Q4 Sales Summary Total Sales DTC Sales P&O Sales $101.2M $107.0M $110.8M $115.5M $9.6M $8.5M Q4-2024 Q4-2025 Q4-2024 Q4-2025 Q4-2024 Q4-2025 • DTC sales growth underpinned by +7.3% • DTC sales growth had positive momentum • P&O sales decrease driven by the earlier comparable sales growth, with a +14
Slide 10: Q4 Gross Margin
Q4 Gross Margin Total Gross Margin DTC Gross Margin 61.8% 62.4% 62.5% 61.3% Q4-2024 Q4-2025 Q4-2024 Q4-2025 • DTC product margin expansion (+) • Increase from 30bps of product margin expansion from improved • Higher mix of licensing royalties and higher-margin wholesale sales product costing (+) in
Slide 11: Q4 SG&A Expenses
Q4 SG&A Expenses $0.8M ($1.6M) $1.1M $1.0M $2.8M $49.3M $45.2M Incremental U.S. Higher Share-based Lower Store Costs from Higher Variable Selling Q4-2024 Investments Q4-2025 Duties Compensation and Improved Store and Other in Marketing SG&A on eCommerce Sales Changes in Key Personnel Efficiency SG&A
Slide 12: Q4 Net Income (Loss)
Q4 Net Income (Loss) Net Income (Loss) Net Income (Loss) excluding Q4 2024 non-cash Intangible Impairment $14.7M $15.0M $14.7M ($21.7M) Q4-2024 Q4-2025 Q4-2024 Q4-2025 (19.6%) of sales 12.7% of sales 13.6% of sales 12.7% of sales Net loss per share Net income per share ($0.54) $0.37 PAGE 12
Slide 13: Q4 Adjusted Net Income and Adjusted EBITDA
Q4 Adjusted Net Income and Adjusted EBITDA Adjusted Net Income (1) Adjusted EBITDA(1) $25.3M $25.1M $16.0M $16.3M Q4-2024 Q4-2025 Q4-2024 Q4-2025 14.4% of sales 14.1% of sales 22.8% of sales 21.7% of sales Adj. Earnings per Share Adj. Earnings per Share $0.40 $0.42 (1) Adjusted Net Income and Adjust
Slide 14: Full Year Results
Full Year Results Total Sales Gross Margin SG&A $262.9M $277.7M 59.8% 61.3% $143.5M $155.5M FY 2024 FY 2025 FY 2024 FY 2025 FY 2024 FY 2025 Adjusted EBITDA(1) Net Income (Loss) Adjusted Net Income (1) $4.7M $21.3M $23.3M ($33.4M) $6.0M $8.4M Q4-2024 Q4-2025 FY 2024 FY 2025 FY 2024 FY 2025 Net loss p
Slide 15: Year-End Balance Sheet Highlights
Year-End Balance Sheet Highlights Net Debt(1) $73.6M Total Liquidity ~0.2x Leverage Ratio (1) $45.1M (9.9% YoY increase) $7.3M Healthy Inventory Position $4.3M 265K Common shares Repurchased in Q4, at $0.9M Q4-2024 Q4-2025 NCIB Buyback(2) (1) Net Debt is a non-IFRS measure defined as long-term debt
Slide 16: Summary
Summary • Strong momentum throughout the year carried into Q4 with continued positive sales momentum and achievement of record high gross margins. • Q4 free cash flow(1) increased 3.5% compared to last year, driven by sales growth and tight management of working capital. • Balance sheet remains stro
Slide 17: Appendix
Appendix PAGE 17
Slide 18: Non-IFRS Measures and Industry Metrics
Non-IFRS Measures and Industry Metrics This presentation makes reference to certain non-IFRS measures including certain metrics specific to the industry in which we operate. These measures are not recognized measures under International Financial Reporting Standards as issued by the International Ac
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