Slide 1: Second Quarter 2025 Financial Results Call
Second Quarter 2025 Financial Results Call 1
Slide 2: Disclaimer
Disclaimer Certain statements in this presentation may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward- looking statements generally relate to future events or Holley’s future
Slide 3: Agenda
Agenda Presenter: Anthony Rozmus • Introductions & Forward-Looking Statements Investor Relations Matthew Stevenson • Results and Highlights President & CEO Jesse Weaver • Q2 Financial Results CFO Group • Q&A Matthew Stevenson • Outlook President & CEO 3
Slide 4: Results and Highlights
Results and Highlights Matthew Stevenson President and CEO 4 4
Slide 5: Highlights for Q2
Highlights for Q2 • Momentum continued in Q2, core business delivered a solid 3.9% revenue growth across all divisions. • Free Cash Flow of $35.7 million in Q2 - record quarterly free cash for the company. • Continued execution of strategic framework drove ~$27M in revenue on key initiatives. • Bran
Slide 6: Q2 Financial Results & Ongoing Business Highlights
Q2 Financial Results & Ongoing Business Highlights 2025 Q2 Results Business Highlights Gross New Products Launched in Q2 Across Divisions Net Sales Margin Along with many more! $166.7 M 41.7% 3.9% vs. PY1 +26bps vs. PY Operational Excellence Q2 Adjusted Free +2.2% +16% >$1M YOY Top 2,500 YOY Improve
Slide 7: Q2 Growth in Divisions and Key Brands (Core Business)
Q2 Growth in Divisions and Key Brands (Core Business) 6% 17% 4% 1% Focusing resources & accountability is driving growth in power brands across divisions 7
Slide 8: Framework for 2025 and Beyond
Framework for 2025 and Beyond GREAT Place to Work Premier CONSUMER DELIVER Results Journey FUND the Growth Trailblazing Trusted PARTNER Product INNOVATION Transformational M&A & Portfolio Management GLOBAL Expansion & NEW Markets 8
Slide 9: Strategic Initiative Tracker | Q2 Wins
Strategic Initiative Tracker | Q2 Wins Pillar Key Metric Details • Revenue from Top 50+ accounts accelerated in Q2 which delivered $8.3M in revenue. Trailblazing Trusted PARTNER +$13.2M • Holley Pros growth of ~$1.8M in the quarter driven by our focused sales team, proactive outreach, and relationsh
Slide 10: Enterprise Focus
Mitigate The Tariff Impacts As Effectively As Possible Within The Shortest Feasible Timeframe 5 Major workstreams have been established – with daily meetings Product Focus Steerco Established, Outside PMO Support + Contractor On Board, Daily & 01. Governance Weekly Reporting, Burndown Chart Establis
Slide 11: Tariff Task Force Delivering ~$15MM in Mitigation Efforts Through 2026
Tariff Task Force Delivering ~$15MM in Mitigation Efforts Through 2026 Mitigation Action $MM Negotiation with Existing Suppliers $5.5 Relocation with Existing Suppliers $4.5 Sourcing with new Suppliers in Lower Cost Countries $4.0 Bringing Products In-House $1.0 Total ~$15MM With Our Comprehensive M
Slide 12: Q2 Financial Results
Q2 Financial Results Jesse Weaver Chief Financial Officer 12
Slide 13: Financial Priorities
Financial Priorities Proactively Leading in Uncertain Environment to Drive Shareholder Value RESTORE OPTIMIZE HISTORICAL PROFITABILITY WORKING CAPITAL • Target 40% GM & >20% Adj EBITDA • Actively managing portfolio to reduce inventory levels • Improving Manufacturing efficiency and asset on non-work
Slide 14: 2Q25 Key Metric Recap
2Q25 Key Metric Recap $ millions (except per share) 2Q25 2Q24 B/(W) Net Sales1 $166.7 $169.5 (1.7%) | 3.9%2 Gross Margin 41.7% 41.5% 26 bps SG&A (incl. R&D) $38.0 $38.9 $(0.9) Net Income $10.9 $17.1 $(6.2) Adj. Net Income (Loss)3 $10.6 $12.6 $(2.0) Adj. Diluted EPS3 $0.09 $0.10 $(0.01) Adj. EBITDA3
Slide 15: Free Cash Flow Generation
Free Cash Flow1 Generation Free Cash Flow Pre-M&A ($M) Record FCF Quarter $9.7M excluding AP headwind of $7.9M $3.8M excluding AP headwind of $5.9M 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Generated Record Quarterly Free Cash Flow of $35.7 Million 1) Non-GAAP measure. Pl
Slide 16: Mitigation Actions & Net Pricing Expected to Offset Tariff Impact on Free Cash Flow
Mitigation Actions & Net Pricing Expected to Offset Tariff Impact on Free Cash Flow Estimated Net Tariff Operating Free Cash Flow Impact ($MM) Minimal Net Price/Volume required to cover remaining exposure 2025 Net 2026 Incremental 2026 Net 2025 Unmitigated Mitigation Net 2025 Tariff Mitigation Net 2
Slide 17: Net Debt to EBITDA Leverage Ratio
Net Debt to EBITDA Leverage Ratio1 Net Leverage Ratio (Net Debt/TTM Covenant EBITDA) $ millions 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Revolver Drawn $0 $0 $0 $0 $0 $0 $0 $0 Covenant $584.4 $553.4 $536.0 $515.3 $515.1 $511.8 $520.7 $508.2 Net Debt Net Debt1 $573.3 $543.1 $526.4 $503.1 $505.6 $496.5
Slide 18: Financial Guidance – Full Year 2025
FINANCIAL GUIDANCE – FULL YEAR 2025 Outlook ($ millions) Current FY25 Guidance Prior FY25 Guidance (including impact from tariffs) (excluding impact from tariffs) Net Sales $580 – $595 $580 – $600 YOY Growth%1 0.8% - 3.4% 0.8% - 4.3% Adjusted EBITDA2 $116 – $127 $113 – $130 Capital Expenditures $10
Slide 19: Q&A
Q&A Matt Stevenson Jesse Weaver Chief Executive Officer Chief Financial Officer 19 19
Slide 20: Working Together to Drive Financial Success
Working Together to Drive Financial Success Large base of passionate and highly engaged enthusiast consumers with attractive demographics • Mid-Single Digit Massive $39B U.S. market with decades of uninterrupted growth1 Organic Top Line Growth Powerhouse of product innovation with iconic brands • ~4
Slide 21: Appendix
- Holle ey PERFORMANCE BRANDS
Slide 22: Interest Rate Collar #1 Feb 2023 to Feb 2026 Summary
Interest Rate Collar #1 Feb 2023 to Feb 2026 Summary Key Terms Effective Date 2/18/2023 Maturity Date 2/18/2026 Holley Inc. Buys a Cap 5.000% Holley Inc. Sells a Floor 2.811% Index 3 Month Term SOFR Premium Zero With the collar in place, YTD effective cash interest rate of ~8.0% 22
Slide 23: Interest Rate Collar #2 Feb 2026 to Nov 2028 Summary
Interest Rate Collar #2 Feb 2026 to Nov 2028 Summary Key Terms Effective Date 2/18/2026 Maturity Date 11/18/2028 Holley Inc. Buys a Cap 4.990% Holley Inc. Sells a Floor 3.350% Index 3 Month Term SOFR Premium Zero 23
Slide 24: TTM EBITDA and Adjusted EBITDA Reconciliation
TTM EBITDA and Adjusted EBITDA Reconciliation HOLLEY INC. and SUBSIDIARIES USE AND RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions) (Unaudited) TTM 3Q24 4Q24 1Q25 2Q25 Net Income $ 15.7 $ (23.2) $ (24.1) $ (30.4) Adjustments: Depreciation 9.9 10.6 10.4 9.9 Amortization of intangible asset
Slide 25: EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation
EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation HOLLEY INC. and SUBSIDIARIES USE AND RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (In millions) (Unaudited) For the thirteen weeks ended For the twenty-six weeks ended June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Net incom
Slide 26: Quarterly Free Cash Flow Reconciliation
Quarterly Free Cash Flow Reconciliation HOLLEY INC. and SUBSIDIARIES USE AND RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions) (Unaudited) 2020 2021 2022 2023 2024 2025 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Net Cash provided by (used in) operating activities $ 25.9
Slide 27: Adjusted Net income and Adjusted diluted EPS Reconciliation
Adjusted Net income and Adjusted diluted EPS Reconciliation HOLLEY INC. and SUBSIDIARIES USE AND RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (In millions, except per share data) (Unaudited) For the thirteen weeks ended For the twenty-six weeks ended June 29, 2025 June 30, 2024 June 29, 2025 June 3