Slide 1: Investor Presentation August 2026
INVESTOR PRESENTATION August 2026
Slide 2: Disclaimer
DISCLAIMER Forward -Looking Statements Please note that in this presentation we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “int end s,” “future,” and similar expressions which constitute forward -looking statements within the meaning of the safe harbor provisions
Slide 3: Experienced and Passionate Management
EXPERIENCED AND PASSIONATE MANAGEMENT Warren Kanders Mike Yates Neil Fiske Tripp Wyckoff EXECUTIVE CHAIRMAN CFO PRESIDENT MANAGING DIRECTOR Clarus Clarus Black Diamond Equipment Adventure
Slide 4: Strong Foundation: Outdoor and Adventure
STRONG FOUNDATION: OUTDOOR AND ADVENTURE EXECUTING LONG -TERM GROWTH STRATEGY ▪ Positioned for category -specific growth and greater profitability in 2026 and beyond ▪ Refined organizational structure, optimized product portfolio, and strengthened go -to-market approach ▪ Debt -free balance sheet an
Slide 5: Strategic Priorities
STRATEGIC PRIORITIES Positioned for long -term sustainable growth Strategic roadmap continues to guide execution Black Diamond objective: Improving profitability driven by cleaner inventory, less Simplify and focus on the core discounting, and shift toward full -price premium model Adventure objecti
Slide 6: The Adventure Segment of Clarus Is a Global Growth Platform
THE ADVENTURE SEGMENT OF CLARUS IS A GLOBAL GROWTH PLATFORM FOR OUR PORTFOLIO OF ADVENTURE BRANDS: RHINO -RACK, MAXTRAX, TRED AND ROCKYMOUNTS.
Slide 7: Adventure Brands
ADVENTURE BRANDS MAKE SPACE FOR ADVENTURE GET IN. GET SET. GET OUT WHEN YOU ABSOLUTELY, POSITIVELY CAN’T RIDE IT THERE; WE’VE GOT YOU COVERED BUILDING & OVERLANDING CAMPING WEEKEND ADVENTURE TOURING EMPOWERING AN ADVENTURE COMMUNITY WATER SPORTS CYCLING SNOW TRADE 6 February 2023 PAGE 7
Slide 8: Large, Underlying Addressable Market
LARGE, UNDERLYING ADDRESSABLE MARKET ADVENTURE’S UNDERLYING GROWTH SUPPORTED BY LARGE AND GROWING ADDRESSABLE MARKETS ACROSS MULTIPLE VERTICALS INCLUDING ROOF RACKS, CAMPING AND CARAVANNING 4.2% CAGR 1 6.5% CAGR 2 $1.7B 1 $52.8 B 2 $2.5B 1 $99.1B 2 2025 2025 2035 2035 GLOBAL ROOF-RACK CARAVAN & CAMP
Slide 9: Adventure by the Numbers
ADVENTURE BY THE NUMBERS ADVENTURE PRESENTS A GLOBALLY DIVERSE PLATFORM WITH SIGNIFICANT UPSIDE BY PUSHING ON DIGITAL TRANSFORMATION AND OEM INITIATIVES, WHILE INTRODUCING HIGHER MARGIN ACCESSORIES TO COMPLEMENT THE CORE RACK BUSINESS Sales by Region Sales by Channel Sales by Category 6 February 202
Slide 10: Adventure - Strategic Priorities and Highlights
ADVENTURE - STRATEGIC PRIORITIES AND HIGHLIGHTS BUILDING BLOCKS IN FOCUS MANAGEMENT COMMENTARY • Challenging macro environment in both Australia and North America drove weaker Q2 sales FOCUS ON BASICS • Focus on driving margin expansion, maintaining cost discipline, and improving operational efficie
Slide 11: Black Diamond Is a Globally Recognized, Iconic Brand
BLACK DIAMOND IS A GLOBALLY RECOGNIZED, ICONIC BRAND THAT TRACES ITS ROOTS BACK TO THE ORIGINS OF ROCK CLIMBING AND MOUNTAINEERING
Slide 12: Global Leader in Climbing, Skiing and Mountain Sports
GLOBAL LEADER IN CLIMBING, SKIING AND MOUNTAIN SPORTS BEAUTIFUL DESIGN + SUPERIOR ENGINEERING = ICONIC, MARKET DEFINING PRODUCT. MARKET LEADER ACROSS OUR CORE CATEGORIES Half Dome Helmet Access Down Jacket 2.0 Fineline Stretch Shell Dirtbag Pants 6 February Pursuit Trekking2023 Poles Camalot Z4 Stor
Slide 13: Big Market with Clear Growth Potential for Black Diamond
BIG MARKET WITH CLEAR GROWTH POTENTIAL FOR BLACK DIAMOND GROWTH SUPPORTED BY LONG-TERM TAILWIND IN CORE MARKETS WITH THE BIGGEST WHITE SPACE FOR BLACK DIAMOND IN APPAREL (CATEGORY), APAC (GEOGRAPHY) AND DTC (CHANNEL) 6.0 % CAGR 9.6 % CAGR 7.7% CAGR $0 .9B 1 $3.5 B 2 $59 .7B 3 B1 $3.1B $2.3 $8 .6B 2
Slide 14: Outdoor by the Numbers
OUTDOOR BY THE NUMBERS OUTDOOR PRESENTS A GLOBALLY DIVERSE PLATFORM DRIVEN BY ESTABLISHED POSITIONING WITHIN CORE MOUNTAIN AND CLIMB CATEGORIES . #1 OR #2 IN MANY PRODUCT CATEGORIES Sales by Region Sales by Channel Sales by Category 6 February 2023 PAGE 14
Slide 15: Building a Simpler, More Profitable Outdoor Business
BUILDING A SIMPLER, MORE PROFITABLE OUTDOOR BUSINESS Changes in SKU and Styles 9,000 8,058 8,000 6,810 7,000 6,015 6,026 5,767 5,704 5,733 5,796 • Steady progress executing initiatives focused on 6,000 5,423 5,000 simplification and right sizing of inventory 4,000 3,000 • Reduced total SKUs 33% sinc
Slide 16: Outdoor - Strategic Priorities and Highlights
OUTDOOR - STRATEGIC PRIORITIES AND HIGHLIGHTS BUILDING BLOCKS IN FOCUS MANAGEMENT COMMENTARY • Revenue, margin, and EBITDA all ahead of prior year SIMPLIFICATION EXECUTION • Big three business unit (Mountain, Climb and Apparel) sales up ~10% y/y and now account for 95% of total sales • Full price Ap
Slide 17: Q2 2026 Results
CLARUS Q2 2026 RESULTS
Slide 18: Second Quarter Results at a Glance
SECOND QUARTER RESULTS AT A GLANCE Commitment to operational and organizational progress despite challenging macro backdrop $56.2 m $16.4m $39.8m 48.9% 1 $7.6 m Revenue Adventure Revenue Outdoor Revenue Gross Margin Adj. EBITDA + 1.6% Y/Y - 11.9% Y/Y + 8.5% Y/Y + 1330 BPS Y/Y + $12.1m Y/Y Adventure
Slide 19: Why Invest in Clarus
WHY INVEST IN CLARUS OUTDOOR & ADVENTURE CLEAR PLANS FOR GROWTH INVESTMENTS IN 2025/26 DEBT-FREE GROWTH MARKETS AND PROFITABILITY MOVING THE NEEDLE In-demand brands Capital allocation Established Simplification and best -in-class priorities focused on roadmap to guide initiatives yielding products,
Slide 20: Q2 2026 Financial Results
Q2 2026 FINANCIAL RESULTS Q2 2026 Q2 2025 NET SALES $56.2M $55.2M GROSS MARGIN 48.9% 35.6% ADJ. EBITDA $7.6M ($4.4M) ADJ. EBITDA MARGIN 13.6% (8.0)% Q2 2026 gross margin, Adj. EBITDA, and Adj. EBITDA margin include a benefit of $6.1M from the recovery of IEEPA tariffs at the Outdoor segment 6 Februa
Slide 21: Full Year Guidance
FULL YEAR GUIDANCE 2026 NET SALES $245M - $255M ADJ. EBITDA 1 $12M - $13M MID-POINT ADJ. EBITDA % 5.0% ADJ. CORPORATE COSTS $8M CAPEX $6M - $7M FREE CASH FLOWS $6M Q3 2026 guidance: Net sales between $66 -$68 million; Adj. EBITDA of $3M 6 February 1 2023 The revised adjusted EBITDA guidance includes
Slide 22: Appendix
APPENDIX
Slide 23: Balance Sheet
BALANCE SHEET 6 February 2023 PAGE 23
Slide 24: Income Statement (Q2)
INCOME STATEMENT (Q2) 6 February 2023 PAGE 24
Slide 25: Income Statement (YTD)
INCOME STATEMENT (YTD) 6 February 2023 PAGE 25
Slide 26: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION 6 February 2023 PAGE 26
Slide 27: Non-GAAP Reconciliation (Q2)
NON-GAAP RECONCILIATION (Q2) 6 February 2023 PAGE 27
Slide 28: Non-GAAP Reconciliation (YTD)
NON-GAAP RECONCILIATION (YTD) 6 February 2023 PAGE 28
Slide 29: Non-GAAP Reconciliation (Q2)
NON-GAAP RECONCILIATION (Q2) 6 February 2023 PAGE 29
Slide 30: Non-GAAP Reconciliation (YTD)
NON-GAAP RECONCILIATION (YTD) 6 February 2023 PAGE 30