Holley Inc. · NYSE:HLLY
Holley — Q1 2026 Earnings Presentation
28 slides from Holley's earnings presentation, May 6, 2026
Slide 1: First Quarter 2026 Financial Results Call
First Quarter 2026 Financial Results Call 1
Slide 2: Disclaimer
Disclaimer Certain statements in this presentation may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward- looking statements generally relate to future events or Holley’s future
Slide 3: Agenda
Agenda Presenter: Anthony Rozmus • Introductions & Forward-Looking Statements Investor Relations Matthew Stevenson • Results and Highlights President & CEO Jesse Weaver • Q1 Financial Results CFO Group • Q&A Matthew Stevenson • Outlook President & CEO 3
Slide 4: Results and Highlights
Results and Highlights Matthew Stevenson President and CEO 4 4
Slide 5: Highlights for Q1
Highlights for Q1 • Net sales of $147.3 million, down 3.7% YoY; due to higher partner inventories and weather. • Adj. EBITDA margin expanded 71 bps YoY to 18.5% in Q1. • Free cash flow improved by $4.5 million year-over-year. • Delivered $6.5 million in Q1 cost savings from purchasing, tariffs, and
Slide 6: Q1 Financial Results & Ongoing Business Highlights
Q1 Financial Results & Ongoing Business Highlights 2026 Q1 Results Business Highlights Gross New Products Recently Launched Across Divisions Net Sales Margin $147.3 M Along with 41.2% many more! (3.7)% vs. PY (65) bps vs. PY Operational Excellence in Q1 Adjusted Free ~92% In-Stock Rate (Top 2,500) $
Slide 7: Q1 Growth in Divisions and Key Brands
Q1 Growth in Divisions and Key Brands (9.7%) 10.0% 3.8% 5.4% 21.5% 1.0% 13.3% 10.2% Strategic prioritization and accountability underpinning growth across core Power & Lifestyle Brands 7
Slide 8: Long Term Strategic Framework
Long Term Strategic Framework GREAT Place to Work Premier CONSUMER DELIVER Results Journey FUND the Growth Trailblazing Trusted PARTNER Product INNOVATION Transformational M&A & Portfolio Management GLOBAL Expansion & NEW Markets 8
Slide 9: 2026 - Full Throttle Forward - Select Examples
2026 - Full Throttle Forward - Select Examples Over 4%+ of Net Sales Growth and $15M+ in Cost Savings Supported By Top Initiatives 9
Slide 10: Strategic Initiative Tracker | Q1
Strategic Initiative Tracker | Q1 Pillar Key Metric Details • Large B2B Accounts impacted by higher year-end inventories and weather events, Trailblazing Trusted PARTNER ($7.9)M that was partially offset by broad-based growth across roughly half of the portfolio. • National Retailer ~10%+ reflected
Slide 11: Portfolio Rebalance to Accelerate Value Creation
Portfolio Rebalance to Accelerate Value Creation 1 Brand Rationalization 2 Cost & Capital Release • Exit brands with low / no • Facility consolidation growth • Inventory reduction • Minimal EBITDA • SG&A optimization contribution • Improvements in FCF • Weak strategic fit • Complexity Reduction 4 Va
Slide 12: Site & Brand Optimization to Reduce Complexity & Enhance Financial Performance
Site & Brand Optimization to Reduce Complexity & Enhance Financial Performance Executing strategic portfolio actions to improve growth, margins, and deleverage Strategic Benefits Operational Benefits Financial Benefits Sharpening Portfolio Reducing Complexity Margin Enhancing + Deleveraging ▪ Consol
Slide 13: Refined Acquisition Profile to Drive M&A Growth
Refined Acquisition Profile to Drive M&A Growth Targeting 5-10 Bolt-On Acquisitions over the Next 24 Months Founder-Led ▪ Founder incentivized to continue growing the business post acquisition Post Acquisition through execution of a jointly developed business plan Strong & Complimentary ▪ Great bran
Slide 14: HRX Acquisition Was First Step in Reengaging M&A
HRX Acquisition Was First Step in Reengaging M&A Founder-Led ▪ Based in Turin, Italy Post Acquisition ▪ Premium Italian racing apparel and safety equipment — suits, Strong & Complimentary gloves, shoes, and teamwear Brands ▪ FIA/FIM homologated through custom configuration at scale Double Digit Reve
Slide 15: Q1 Financial Results
Q1 Financial Results Jesse Weaver Chief Financial Officer 15
Slide 16: Financial Priorities
Financial Priorities DRIVE PROFITABILITY THROUGH OPTIMIZE DELEVER OPERATIONAL EFFICIENCY WORKING CAPITAL BALANCE SHEET • Unlocking structural profitability through • Executing sharper portfolio management • Maintaining progressive balance-sheet optimized staffing models and ongoing that reduces non-
Slide 17: 1Q26 Key Metric Recap
1Q26 Key Metric Recap $ millions (except per share) 1Q26 1Q25 B/(W) Net Sales $147.3 $153.0 (3.7)% Gross Margin 41.2% 41.9% -65 bps SG&A (incl. R&D) $39.4 $40.8 $1.4 Net Income $7.3 $2.8 $4.4 Adj. Net Income1 $5.7 $2.6 $3.1 Adj. Diluted EPS1 $0.05 $0.02 $0.03 Adj. EBITDA1 $27.3 $27.3 $— Adj. EBITDA
Slide 18: Free Cash Flow Generation
Free Cash Flow1 Generation Free Cash Flow Pre-M&A ($M) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Free Cash Flow improvement of $4.5 million year-over-year 1) Non-GAAP measure. Please see the GAAP to Non-GAAP reconciliation in the Appendix to this presentati
Slide 19: Net Debt to EBITDA Leverage Ratio
Net Debt to EBITDA Leverage Ratio1 Net Leverage Ratio (Net Debt/TTM Covenant EBITDA) $ millions 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Revolver Drawn $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $10.0 Covenant Net Debt $584.4 $553.4 $536.0 $515.3 $515.1 $511.8 $520.7 $508.2 $492.9 $492.3 $510.8 Net
Slide 20: Financial Guidance – Full Year 2026
FINANCIAL GUIDANCE – FULL YEAR 2026 Portfolio Optimization Adjustment Outlook ($ millions) Original FY26 Guidance FY26 Guidance Net Sales $625 - $655 million $610 - $640 million Core Business Growth Rate %1 ~2% to ~7% ~2% to ~7% Adjusted EBITDA2 $127 - $137 million $127 - $137 million Capital Expend
Slide 21: Q&A
Q&A Matt Stevenson Jesse Weaver Chief Executive Officer Chief Financial Officer 21 21
Slide 22: Working Together to Drive Financial Success
Working Together to Drive Financial Success Large base of passionate and highly engaged enthusiast consumers with attractive demographics • Mid-Single Digit Massive $39B U.S. market with decades of uninterrupted growth1 Organic Top Line Growth Powerhouse of product innovation with iconic brands • ~4
Slide 23: Appendix
- Holle ey PERFORMANCE BRANDS
Slide 24: Interest Rate Collar Feb 2026 to Nov 2028 Summary
Interest Rate Collar Feb 2026 to Nov 2028 Summary Key Terms Effective Date 2/18/2026 Maturity Date 11/18/2028 Holley Inc. Buys a Cap 4.990% Holley Inc. Sells a Floor 3.350% Index 3 Month Term SOFR Premium Zero 24
Slide 25: TTM EBITDA and Adjusted EBITDA Reconciliation
TTM EBITDA and Adjusted EBITDA Reconciliation HOLLEY INC. and SUBSIDIARIES USE AND RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions) (Unaudited) TTM 2Q25 3Q25 4Q25 1Q26 Net Income (Loss) $ (30.4) $ (24.9) $ 19.2 $ 23.6 Adjustments: Depreciation 9.9 10.4 9.7 9.9 Amortization of intangible a
Slide 26: EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation
EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation HOLLEY INC. and SUBSIDIARIES USE AND RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (In millions) (Unaudited) For the thirteen weeks ended March 29, 2026 March 30, 2025 Net income (loss) $ 7.3 $ 2.8 Adjustments: Depreciation 2.5 2.3 Am
Slide 27: Quarterly Free Cash Flow Reconciliation
Quarterly Free Cash Flow Reconciliation HOLLEY INC. and SUBSIDIARIES USE AND RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions) (Unaudited) 2021 2022 2023 2024 2025 2026 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q Net Cash provided by (used in) operating activities $ 19.0
Slide 28: Adjusted Net income and Adjusted diluted EPS Reconciliation
Adjusted Net income and Adjusted diluted EPS Reconciliation HOLLEY INC. and SUBSIDIARIES USE AND RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (In millions, except per share data) (Unaudited) For the thirteen weeks ended March 29, 2026 March 30, 2025 Net income $ 7.3 $ 2.8 Special items: Adjust for: