Slide 1: Second Quarter 2024
a rs COND QUARTER 2024 + SS OSy | (TIMBERLINE®)
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT 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 statements, incl
Slide 3: Slide 3
Slide 4: CEO Commentary
CEO COMMENTARY “Our second quarter results reflect our strong efforts over the last two years to drive increased efficiencies in our business and demonstrate our team’s ability to execute in a dynamic environment. During the quarter, consumer demand for our grills exceeded expectations, driving grow
Slide 5: Traeger 2Q2024 at a Glance
AN TRAEGER 2Q2024 AT A GLANCE Revenue Mix SI68MM 42.9% Revenue Gross Margin $27MM 15.9% Adj. EBITDA © Adj. EBITDA Margin =Grills =Accessories Consumables oh TRAEGER
Slide 6: Growth Pillars: Quarterly Highlights
GROWTH PILLARS: QUARTERLY HIGHLIGHTS Accelerate Brand Awareness + Completed over 4,000 weekend selling events at retail locations with retail sales specialists training and preparing retail associates for product demonstrations * Grew followers across all social channels by 13% versus 2Q 2023 + Trae
Slide 7: Gross Margin Progression
GROSS MARGIN PROGRESSION GROSS MARGIN % | | 42.9% 43.0% ; 41.0% FY 2019 FY 2020 FY 2021 FY 2022” FY 2023 FY 2024 (Guidance, mid-point) * Significant pressure on gross margin in FY 2021 and FY 2022, largely driven by increased transportation costs Gross margin recapture in FY 2023 and expected gains
Slide 8: Balance Sheet and Liquidity
BALANCE SHEET AND LIQUIDITY Significant Actions to Increase Financial Flexibility Available Liquidity SMM Lowered Exposure to Elevated Rates * Entered into floating-to-fixed interest rate swap agreement on First Lien $155 Term Loan in February 2022 + Agreement provides for a notional amount of $379.
Slide 9: Financials
FINANCIALS
Slide 10: 2nd Quarter 2024 Revenue Results
2"4 QUARTER 2024 REVENUE RESULTS TOTAL REVENUE $MM $i72 @®. gaa 2Q 2023 2Q 2024 GRILL REVENUE CONSUMABLES REVENUE ACCESSORIES REVENUE SMM = SMM SMM 93 $95 @.. 6. g ad g $40 2Q 2023 2Q 2024 2Q 2023 2a 2024 2Q 2023 2a 2024 AN TRAEGER
Slide 11: 2nd Quarter 2024 Profitability Results
24 QUARTER 2024 PROFITABILITY RESULTS GROSS PROFIT Sum @® Gross Margin $63 2Q 2023 ADJUSTED EBITDA © $MM &> @® Adjusted EBITDA Margin $ 21 2Q 2023 ADJUSTED NET INCOME (LOSS) ® SMM ($4) 2Q 2023 } TRAEGER 2Q 2024 $27 2Q 2024 $7 2Q 2024
Slide 12: Guidance for Full Year Fiscal 2024
GUIDANCE FOR FULL YEAR FISCAL 2024 Fiscal 2024 Guidance PRIOR GUIDANCE METRIC LOW HIGH LOW HIGH Total Revenue S$S58OMM S605MM S5S90MM S605MM Gross Margin 39.0% 40.0% 40.5% 41.5% Adj. EBITDA ® $62MM $7IMM $74MM $79MM Ih TRAEGER Key Assumptions: * Expecting approximately flat Grill revenues for FY 202
Slide 13: Appendix
APPENDIX Ah TRAEGER
Slide 14: Footnotes
FOOTNOTES |. Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted Gross Margin are non-GAAP measures. See the appendix to this presentation for a presentation of, and a reconciliation of these measures to, the nearest comparable GAAP measures, including Net Loss, Net Loss Margin, and Gross Margin,
Slide 15: Information Regarding Non-GAAP Financial Measures
INFORMATION REGARDING NON-GAAP FINANCIAL MEASURES In addition to our results and measures of performance determined in accordance with U.S. GAAP, we believe that certain non- GAAP financial measures are useful in evaluating and comparing our financial and operational performance over multiple period
Slide 16: Presentation of Comparable GAAP Measures and Reconciliations of Non-GAAP Financial Measures
PRESENTATION OF COMPARABLE GAAP MEASURES AND RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES oh TRAEGER Three Months Ended June 30, Six Months Ended June 30, (dollars in thousands, except share and per share amounts) 2024 2023 2024 2023 Net loss S@578) SGO166) S726) S096) Adjustments: Other income (1
Slide 17: Presentation of Comparable GAAP Measures and Reconciliations of Non-GAAP Financial Measures
PRESENTATION OF COMPARABLE GAAP MEASURES AND RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES Ih TRAEGER RECONCILIATION OF DEBT TO NET DEBT June 30, (dollars in thousands) 2024 Line of credit $23,500 Current portion of notes payable 250 Notes payable, net of current portion 397,873 ‘Add: Debt issuance