Slide 1: First Quarter of Fiscal Year 2026
First Quarter of Fiscal Year 2026 America’s Coffee
Slide 2: Disclaimer: Forward-Looking Statements
DISCLAIMER Forward-Looking Statements This presentation contains forward-looking statements about BRC Inc. (the “Company,” “we,” “us,” and “our”) and its industry that involve substantial risks and uncertainties. All statements other than statements of historical fact contained in this presentation,
Slide 3: Today's Speakers
TODAY’S SPEAKERS Evan Chris Matthew Matt Hafer Mondzelewski Amigh McGinley Executive Chairman President and Chief Chief Financial Officer VP Investor Relations Executive Officer First quarter results mark a strong start to 2026 and reflect growing momentum across the business. We are operating with
Slide 4: 2026 First Quarter Highlights
2026 FIRST QUARTER HIGHLIGHTS Gross Revenue Margin Net Revenue Gross Margin of $109.2 million 33.0% up 21.4% or $19.3M YoY compared to 36.1% in Q1 2025 Wholesale Profitability Revenue Adjusted EBITDA1 Wholesale Revenue $7.3 million $74.7 million up $6.4M or 718% YoY up 31.5% or $17.9M YoY 1 Refer to
Slide 5: Channel Highlights
Channel Highlights
Slide 6: Outpacing the Coffee Category Through Distribution and Velocity Gains
OUTPACING THE COFFEE CATEGORY THROUGH DISTRIBUTION AND VELOCITY GAINS PACKAGED COFFEE RETAIL SALES GROWTH1 BAGGED COFFEE VELOCITY2 BRCC Velocity as % of Category 34.6% 100% 101% 33.4% 84% 77% 12.2% 13.0% L52W Q1 2026 2023 2024 2025 YTD 2026 Black Rifle Coffee Coffee Category Distribution and velocit
Slide 7: "Land & Expand" Strategy a Proven, Scalable Growth Engine
“LAND & EXPAND” STRATEGY A PROVEN, SCALABLE GROWTH ENGINE DISTRIBUTION REACH - %ACV1 ASSORTMENT DEPTH – AVERAGE ITEMS CARRIED2 55.4 6 48.4 5 34.3 4 ACV % 25.8 3 2 1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025 2026 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 LAND
Slide 8: Unit Driven Growth Reflects Real Consumer Demand
UNIT DRIVEN GROWTH REFLECTS REAL CONSUMER DEMAND BRCC’s branding and focus on quality products have driven outsized growth compared to legacy brands PACKAGED COFFEE RETAIL SALES 553 216 2,190 252 1,972 652 359 882 490 499 75 Annual Retail Sales ($ millions)1 Retail Sales Growth – L522 37.6% 33.4% BR
Slide 9: DTC Channel Evolution: Marketplace-Enabled Growth, BRCC.com Retention
DTC CHANNEL EVOLUTION: MARKETPLACE-ENABLED GROWTH, BRCC.COM RETENTION Driving DTC growth by acquiring customers through marketplaces and retaining them on BRCC.com +7% 2nd ~2x Total DTC YoY Growth Q1 Consecutive Quarter of YoY DTC Growth Marketplace YoY Growth Q1 MARKETPLACE — SCALING THE MODEL BRCC
Slide 10: Maintaining Top Position in RTD Coffee Despite Category Headwinds
Maintaining Top 3 Position in RTD Coffee Despite Category Headwinds New door growth offset by pressure in the C-store channel Dollar & Unit Growth – L521 BRCC RTD ACV2 BRCC xAOC + Convenience Dollar Growth Unit Growth 55.0 46.7 41.3 37.9 ACV % (0.5)% (2.5)% (3.0)% (3.0)% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q
Slide 11: Disciplined Energy Expansion for 2026
DISCIPLINED ENERGY EXPANSION FOR 2026 Prioritizing high-return markets where the brand is strongest BLACK RIFLE ENERGY LAUNCH STATISTICS – MARCH 20261 ~21% 22,650 3,210 ~67% 14,475 ~7% 4,245 ~12% Doors of Walmart Convenience Convenience Grocery Store ACV Walmart ACV Grocery Stores Distribution Locat
Slide 12: Operational Performance & Financial Results
Operational Performance & Financial Results
Slide 13: Quarterly Financials
QUARTERLY FINANCIALS $ millions 21% (305) bps 36.1% GROSS MARGIN NET REVENUE $109.2 33.0% $90.0 Q1 2025 Q1 2026 Q1 2025 Q1 2026 718% 527 bps WHOLESALE REVENUE MIX2 ADJUSTED EBITDA1 $7.3 68% 63% $0.9 Q1 2025 Q1 2026 Q1 2025 Q1 2026 13 1. 1. Refer to slide 25 for a reconciliation of “Adjusted EBITDA”
Slide 14: Gross Margin Pressure Easing, 40%+ Target Intact
GROSS MARGIN PRESSURE EASING, 40%+ TARGET INTACT Q1 Gross Margin Bridge 36.1% (2.1)% 0.5% 33.0% (1.0)% (0.2)% (0.3)% Q1 2025 Extract 3PL Coffee Inflation Other Productivity Q1 2026 Gross Margin Write-Down Start-Up & Tariffs, & Mix Gross Margin Costs Net of Pricing Coffee inflation created near-term
Slide 15: Later-Year Operating Expenses Savings Offset Gross Profit Pressure
LATER-YEAR OPERATING EXPENSES SAVINGS OFFSET GROSS PROFIT PRESSURE $ millions Q1 Adjusted EBITDA Bridge1 $2.5 $7.3 $3.9 6.7% EBITDA Margin 1.0% EBITDA Margin $0.9 Q1 2025 Adj. Gross Profit 2 Adj. Operating 2 Q1 2026 Adj. EBITDA 1 Expenses Adj. EBITDA 1 Focus remains on operational efficiency through
Slide 16: Outlook
RIFLE COMPANY Outlook
Slide 17: 2026 Financial Guidance
2026 FINANCIAL GUIDANCE Net Revenues Gross Margin Adjusted EBITDA At least 8% 34 to 36% At least 35% Growth Compared to 2025 Expected Gross Margin Range Growth Compared to 2025 • Implies at least $430 million of • 2026 gross margin expected in the • Implies EBITDA of at least ~$29 million in revenue
Slide 18: Appendix
Appendix
Slide 19: Financial Highlights
FINANCIAL HIGHLIGHTS 1 Refer to slide 25 for a reconciliation of ”Adjusted EBITDA” 19
Slide 20: Consolidated Income Statements
CONSOLIDATED INCOME STATEMENTS 20
Slide 21: Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS 21
Slide 22: Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS 22
Slide 23: Consolidated Statements of Cash Flows (Continued)
CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED) 23
Slide 24: Key Operational Metrics
KEY OPERATIONAL METRICS Revenue by Sales Channel (in thousands) Three Months Ended March 31, 2026 2025 Wholesale $ 74,702 $ 56,791 DIC 29,720 27,720 Outpost 4,805 5,463 Total net sales $ 109,227 $ 89,974 Key Operational Metrics March 31, 2026 2025 FDM ACV %” 55.4% 48.4% RTD ACV %? 55.0 % 46.7 % Outp
Slide 25: Reconciliation of Net Income (Loss) to Adjusted EBITDA
RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA 25
Slide 26: Reconciliation of Other GAAP to Non-GAAP Measures
RECONCILIATION OF OTHER GAAP TO NON-GAAP MEASURES 26
Slide 27: 2026 Outlook
2026 OUTLOOK For full-year fiscal 2026, the Company provides the following guidance: (in millions, except % data) FY2025 Prior FY2026 Current FY2026 Actual Guidance Guidance Net Revenue $ 398.3 At least 7% growth At least 8% growth Gross Margin 34.6 % 34% to 36% 34% to 36% Adj. EBITDA $ 214 At least