Camping World Holdings, Inc. · NYSE:CWH
Camping World — Q4 2025 Earnings Presentation
8 slides from Camping World's earnings presentation, Feb 25, 2026
Slide 1: Investor Presentation January 2026
INVESTOR PRESENTATION JANUARY 2026 WorLD &
Slide 2: Safe Harbor
Safe Harbor Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking
Slide 3: RV industry new and used unit trends have stabilized
50% 1,600,000 8% 4% 40% 1,500,000 0% 30% 1,400,000 (4%) (8%) 20% 1,300,000 (12%) 10% 1,200,000 0% 1,100,000 N/U Trailing 3 Mo. N/U Trailing 6 Mo. N/U Trailing 12 Mo. Monthly N/U Y/Y Change (10%) 1,000,000 (20%) 900,000 Looking at the RV industry on a broader basis, new and used combined, trends have
Slide 4: Camping World x Costco Auto Program: New Unit Catalyst
Camping World x Costco Auto Program: New Unit Catalys Camping World is Costco's exclusive RV partner, reaching >60 million members, new channel for ASP/new unit sales Historically, RV Purchase Leads Under the Program Have Skewed More Toward Higher ASP Fifth Wheel and Motorized Units mw Camping World
Slide 5: CW Unit Share by Type & Price Band
CW Unit Share by Type & Price Band Freedom Elite 17DPT Campsite Elite 36RF
Slide 6: Near-Term Priorities: Compound Our Growth in Used
Near-Term Priorities: Compound Our Growth in Used Used remains a top strategic priority, transactions overall are more profitable, opportunity exists to improve used turns Recent Used RV Industry Trends Have Inflected/Stabilized, Gross Margin Return On Investment (GMROI) Sig. Higher vs. New 1,000,00
Slide 7: GSIA Total Items In Force / Insurance Brokerage Transactions
GSIA Total Items In Force Market Setting Insurance Brokerage Transactions 25.0x 20.9x +4.0% CAGR in Protected 20.0x 18.0x 17.6x 18.1x Average 16.5x 16.4x Vehicles & Assets 16.9x 14.3x 15.0x 15.0x 15.0x 10.0x 5.0x 0.0x Oct-24 #1 #2 #3 #4 #5 #6 #7 #8 #9 Apr-20 Oct-20 Apr-22 Oct-22 Jan-19 Oct-23 Oct-19
Slide 8: Cost per Intake Call Comparison
Cost per Intake Call Comparison +22% in F&I Product Commission Est. Today’s 80% in Intake intake Cost cost savings 2026E
Camping World Holdings — Q4 2025 Earnings Presentation on 6ix