Slide 1: Well Positioned to Deliver Outstanding Shareholder Value
Well Positioned to Deliver Outstanding Shareholder Value June 9, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation and related discussions contain forward-looking statements that involve risks and uncertainties. These forward-looking statements generally are identified by the words “potential,” “opportunity,” “anticipate,” “estimate,” “expect,” “intend,” “project,” “p
Slide 3: WHP Global Joint Venture: Positioned for Potential Value Creation with Upside Opportunity
WHP Global Joint Venture Positioned for Potential Value Creation with Upside Opportunity “Clear recognition of the $300M • 50% JV stake for Lands’ End IP • Full repayment of ~$234M term loan enduring value of Lands’ End’s Purchase Price + Debt Elimination • Balance sheet freed for capital allocation
Slide 4: Lands' End Strategy
Lands’ End Strategy
Slide 5: Four Key Levers to Drive Shareholder Value
Four Key Levers to Drive Shareholder Value 1 2 3 4 Enhanced Financial Robust Operational Returning Capital to Additional Flexibility Execution Shareholders JV Upside Eliminated term loan debt and Enables organic growth Up to $100M share 50% JV profit share with quarterly materially reduced interest
Slide 6: Commercial Strategy Under License Agreement
Commercial Strategy Under License Agreement Well positioned to build on our solutions-based, customer-first strategy across DTC and B2B channels Direct-to-Consumer B2B / Lands’ End Outfitters Reaching and engaging consumers where they are, across the BRAND-ENHANCING APPAREL AND UNIFORM SOLUTIONS U.S
Slide 7: Key Growth Drivers
Key Growth Drivers New Categories, Channels & Markets Product Innovation & Key Franchises • WHP Global JV accelerating international expansion • Solutions-focused merchandising for higher • Third-party licensing driving new category reach quality sales • High-margin royalty streams extending global
Slide 8: JV Strategy
‘we JV Strategy - wr al a - ? — p
Slide 9: Joint Venture Update
Joint Venture Update FIRST 60 DAYS Since closing on April 1, the JV has brokered $150M+ in A strong and growing WHP Global platform – including its recent agreement to guaranteed minimum royalty (“GMR”) revenue over the acquire Marc Jacobs from LVMH – and a unique exchange opportunity give Lands' li
Slide 10: Financial Overview
Financial Overview
Slide 11: Resetting the Baseline
Resetting the Baseline The following table recasts FY2025 results as if the JV structure were in place for the entirety of FY2025 to provide a common baseline against which future results can be evaluated (In $ Millions, except per share) 2025 Actual Adjustments 2025 Recast Notes Revenue $ 1,335.1 $
Slide 12: Outlook
Outlook Q2 Fiscal 2026 Full Year Fiscal 2026 Net Revenue $290M to $310M $1.3B to $1.4B Net Income / (loss) $(5)M to $(2)M $310M to $320M Adjusted Net Income / (loss) $2M to $5M $10M to $20M Adjusted Diluted EPS $0.06 to $0.16 $0.32 to $0.65 Adjusted EBITDA $11M to $14M $68M to $78M Three-Year Target
Slide 13: Lands' End Potential Value Creation Opportunities from the JV
Lands’ End Potential Value Creation Opportunities from the JV JV Generates WHP Global Event Valued Establishes JV Revenue at Market Multiple Valuation 50% >15x 50% of JV profits EBITDA1 JV value accrues to Lands’ End are distributed to Lands' End illustrative valuation multiple for scaled in the eve
Slide 14: Illustrative Value of Lands' End's JV Stake Following WHP Global Monetization Event
Illustrative Value of Lands’ End’s JV Stake Following WHP Global Key Context and Assumptions Monetization Event In certain possible WHP Global monetization events, Lands’ End may, or be required to, exchange its JV stake for equity in WHP Global Scenario 1 Scenario 2 Exchange value is determined by
Slide 15: Four Key Levers to Drive Shareholder Value
Four Key Levers to Drive Shareholder Value 1 2 3 4 Enhanced Financial Robust Operational Returning Capital to Additional Flexibility Execution Shareholders JV Upside Eliminated term loan debt and Enables organic growth Up to $100M share 50% JV profit share with quarterly materially reduced interest
Slide 16: Q&A
Q&A
Slide 17: Appendix
Appendix
Slide 18: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Fiscal 2025 (in millions) Net income $5.5 Income tax expense 2.2 Interest expense 36.7 Depreciation and Amortization 30.2 Corporate restructuring and other 13.9 Unmitigated tariff costs 13.0 Other 0.8 Adjusted EBITDA $102.3 (in millions) Net income $5.5 Corporate
Slide 19: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Second Quarter Fiscal 2026 Guidance (in millions) Net Income / (loss) $(5.0) -- $(2.0) Depreciation, interest, other income, taxes and other significant items 16.0 -- 16.0 Adjusted EBITDA $ 11.0 -- $14.0 (in millions) Net Income / (loss) $(5.0) -- $(2.0) Restructu
Slide 20: Lands' End
LANDS’ END