Slide 1: First Quarter FY27: Supplemental Information
FIRST QUARTER FY27: SUPPLEMENTAL INFORMATION SEPTEMBER 10, 2026
Slide 2: Forward-Looking Statements
FORWARD -LOOKING STATEMENTS This presentation contains “forward-looking statements” within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995 (Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934)
Slide 3: Business Overview & Strategic Actions
BUSINESS OVERVIEW & STRATEGIC ACTIONS
Slide 4: Culp, Inc.: Two Leading Businesses in Multi-Billion-Dollar Markets
CULP, INC. (NASDAQ: CULP) TWO LEADING BUSINESSES IN MULTI-BILLION-DOLLAR MARKETS One of North America’s largest marketers of mattress fabrics and sewn covers for bedding and upholstery fabrics and sewn kits for BEDDING SEGMENT residential, commercial, and hospitality furniture and other • Market lea
Slide 5: Restructured for Profitability Across Market Cycles
RESTRUCTURED FOR PROFITABILITY ACROSS MARKET CYCLES Completed Fiscal 2025 ACTIONS OUTCOMES Consolidated North American Bedding Operations ~$11 Million in Annualized Cost Savings and Efficiency Gains • Closed manufacturing operations and sold facility in Quebec, Canada ~ $1 Million Reduction in Admin
Slide 6: Integration & Additional Actions Strengthen Foundation
INTEGRATION & ADDITIONAL ACTIONS STRENGTHEN FOUNDATION Completed Fiscal 2026 and Continuing in Fiscal 2027 Integration of Stand-Alone Divisions to Synergize Business and Consolidated and Streamlined Read Window Operations Leadership Teams • Relocated leased facility in Knoxville, TN into owned facil
Slide 7: Impacts of Restructuring, Integration & Additional Actions
IMPACTS OF RESTRUCTURING, INTEGRATION & ADDITIONAL ACTIONS Projected Annualized $ Impact Action Financial Impact & Timing FY25 Restructuring Initiatives ~ $11 Million / completed COGS/SG&A FY25 Administrative SG&A Rationalization $1 Million / completed SG&A FY26 Division Integration $1 Million / com
Slide 8: Optimized Platform Driving Momentum
OPTIMIZED PLATFORM DRIVING MOMENTUM YOY Sales / Profitability Growth In Shorter Quarter with One Less Selling Week Consolidated Revenue Consolidated Adjusted Gross Profit $ Consolidated Adjusted Gross Profit % $54.0m $8.4m 15.6% $50.7m $7.2m 14.3% Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Cons
Slide 9: Optimized Platform Driving Momentum
OPTIMIZED PLATFORM DRIVING MOMENTUM YOY Sales / Profitability Growth in Bedding and Comparable Upholstery Performance In Shorter Quarter with One Less Selling Week Bedding Sales Bedding Gross Profit % $31.8m 13.6% $28.0m 10.5% Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Upholstery Sales Upholstery Gross Profit
Slide 10: Liquidity & Capital Base
LIQUIDITY & CAPITAL BASE Top Priority to Aggressively Manage Liquidity/FCF and Debt BALANCE SHEET HIGHLIGHTS Devoted full amount of Q1 tariff recoveries to debt reduction Inventory reduction initiatives and management strategies As of 8/2/2026 TOTAL LIQUIDITY (in millions) strengthening balance
Slide 11: Tariff Impacts & Mitigation
TARIFF IMPACTS & MITIGATION AVG EFFECTIVE TARIFF ON US IMPORTED GOODS 2026 • CULP Total Tariffs/Duties Paid CY 2025 to FYE2026: ~ $17.7 million • Tariff Landscape More Favorable after U.S. Supreme Court Decision Invalidating IEEPA Tariffs, although the Environment Remains Fluid with Pending Section
Slide 12: Global Trade/Tariff Uncertainty
GLOBAL TRADE/ TARIFF UNCERTAINTY Strong U.S. Base and Global Footprint Gives Customers Valuable Optionality and CULP an Increasing Competitive Advantage WHERE WE ARE USA · CHINA · VIETNAM · TURKEY · HAITI
Slide 13: Culp Bedding
CULP BEDDING Large-Scale Leader in Consolidated Industry with Significant Barriers to Entry INNOVATIVE PRODUCTS COMPETITIVE STRENGTHS GROWING MARKET SHARE • Knitted fabrics • One of the largest producers of mattress fabrics in North America Market Size • Sewn mattress covers $500-600M 1 • Global man
Slide 14: Leading Products for Top Brands
LEADING PRODUCTS FOR TOP BRANDS 14
Slide 15: Culp Upholstery
CULP UPHOLSTERY Market Leader Known for Creative Designs and Innovative Products, with Asset-Light Operating Model INNOVATIVE PRODUCTS COMPETITIVE STRENGTHS GROWING MARKET SHARE • Upholstery fabrics and sewn kits for • Outstanding design capabilities residential furniture markets Market Size • Asset
Slide 16: Innovative Products for Top Customers
INNOVATIVE PRODUCTS FOR TOP CUSTOMERS Focused on higher margin / growth segments • Targeting performance products ~40% of total • Targeting hospitality target at >30% of total 16
Slide 17: Culp Innovation Engine
CULP INNOVATION ENGINE UPHOLSTERY • FIRST to introduce suede upholstery fabrics and faux leather looks to commercial residential market • FIRST with stain-resistant performance fabrics at mid- market price points, including iClean® and LiveSmart® brands • FIRST to introduce performance + sustainabil
Slide 18: Current Market Conditions
CURRENT MARKET CONDITIONS 18
Slide 19: Current Macro Situation
CURRENT MACRO SITUATION CURRENT POST-COVID PRE-COVID SITUATION • Slow demand – result of • Favorable long- Covid accelerated “pull term growth forward” + inflation + low dynamics in both housing activity + other segments macroeconomic factors v COVID IMPACT ANTICIPATED RETURN TO NORMALIZED • Acceler
Slide 20: Bedding: Current Market Cycle
BEDDING: CURRENT MARKET CYCLE DOLLAR VALUE OF MATTRESS SHIPMENTS UNIT SHIPMENTS OF MATTRESSES (Total Mattress Market*) (Total Mattress Market*) 25.0 $14.000 10.0 60.000 20.0 18.0% 5.2% $13.000 5.0 55.000 15.0 $12.000 0.0 50.000 Dollar Value ($ Billions) Units (Millions) 10.0 Annual % Change Annual %
Slide 21: Bedding: Current Market Cycle
BEDDING: CURRENT MARKET CYCLE CY 2026 Second Quarter and YTD Continuing Challenged Market Conditions TOTAL US MARKET OF MATTRESSES AND STATIONARY FOUNDATIONS- Q2 2026 DOLLAR VALUE (MILLIONS) UNITS (THOUSANDS) 2nd Quarter Year-to-Date 2nd Quarter Year-to-Date 2026 2025 r % Change 2026 2025 r % Change
Slide 22: Bedding: Prior Industry Downturns
BEDDING: PRIOR INDUSTRY DOWNTURNS UBS Global Research: Downturns Since 1980 Have Never Exceeded 4 Years and Were Followed by Periods Averaging 4% Growth Source: Almost Done Tossing and Turning – Assuming Coverage of the U.S. Mattress Industry, UBS Global Research © UBS 2025. All rights reserved. 22
Slide 23: Housing Activity - Multi-Year Trough
HOUSING ACTIVITY - MULTI-YEAR TROUGH SALES OF EXISTING SINGLE-FAMILY HOMES TOTAL HOUSING STARTS (Units, thousands) (Units, thousands) Forecast 1,605 Forecast 1,552 5,425 1,394 1,421 1,370 1,356 1,364 1,361 1,292 5,057 1,247 4,907 1,178 1,207 4,822 1,107 4,736 4,746 .5 4,623 1,001 4,475 4,532 928 4,3
Slide 24: Housing Activity – Low Inventory
HOUSING ACTIVITY – LOW INVENTORY Freddie Mac, 30-Year Fixed Rate Mortgage Average in the United States [MORTGAGE30US], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MORTGAGE30US, June 12, 2026. 24
Slide 25: Housing Activity – 30-Year Mortgage Rates
HOUSING ACTIVITY – 30-YEAR MORTGAGE RATES Freddie Mac, 30-Year Fixed Rate Mortgage Average in the United States [MORTGAGE30US], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MORTGAGE30US, June 12, 2026. 25
Slide 26: Consumer Sentiment
CONSUMER SENTIMENT Source: University of Michigan, University of Michigan: Consumer Sentiment [UMCSENT], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/USACSCICP02STSAM#, May 15, 2026 26
Slide 27: Consumer Sentiment
CONSUMER SENTIMENT Source: University of Michigan, University of Michigan: Consumer Sentiment [UMCSENT], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/USACSCICP02STSAM#, May 15, 2026 27
Slide 28: Investment Highlights
J C INVESTMENT HIGHLIGHTS Via CULP
Slide 29: Investment Highlights
INVESTMENT NASDAQ: CULP HIGHLIGHTS • Well-established market position in • Strong relationships with key customers and multiple billion-dollar industries long-term suppliers • Experienced and streamlined • Emphasis on design creativity and product leadership team focused on profitable innovation gro
Slide 30: NASDAQ: CULP
Wig 4s NASDAQ: CULP CULP
Slide 31: Reconciliations of Non-GAAP Financial Measures
R E C O N C I L I AT I O N S O F N O N - G A A P F I N A N C I A L M E A S U R E S This presentation contains adjusted income statement information for the three-month period ended August 2, 2026, which discloses adjusted gross profit and adjusted income (loss) from operations, both of which are non
Slide 32: Reconciliations of Non-GAAP Financial Measures
R E C O N C I L I AT I O N S O F N O N - G A A P F I N A N C I A L M E A S U R E S Consolidated Gross Profit & Operating Income (Loss) Three months ended August 2, 2026 As Reported Adjusted Results August 2, August 2, 2026 Adjustments 2026 Net sales $ 53,973 — $ 53,973 Cost of sales (1) (38,595 ) (6
Slide 33: Reconciliations of Non-GAAP Financial Measures
R E C O N C I L I AT I O N S O F N O N - G A A P F I N A N C I A L M E A S U R E S Consolidated EBITDA Quarter Ended August 2, 2026 Net loss (income) $ 5,981 Income tax expense 868 Interest (income) expense, net 21 Depreciation expense 911 Amortization expense 29 EBITDA 7,810 Restructuring expense —