Lucky Strike Entertainment Corporation · NYSE:LUCK
Lucky Strike Entertainment — Q2 2026 Earnings Presentation
25 slides from Lucky Strike Entertainment's earnings presentation, Feb 4, 2026
Slide 1: Investor Presentation
February 2026 INVESTOR PRESENTATION 1
Slide 2: Disclaimer
DISCLAIMER Forward-looking statements Some of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risk, assumptions
Slide 3: Investment Thesis
INVESTMENT THESIS A location-based entertainment platform with proven history of superior returns 1 Market Leader in North American Bowling, Supported by High-Quality, Well-Recognized Brands 2 Large Addressable On-Location Entertainment Market Presents Meaningful Growth Potential 3 Well-Diversified
Slide 4: Consistent Double-Digit Annual Revenue Growth
CONSISTENT DOUBLE -DIGIT ANNUAL REVENUE GROWTH 4
Slide 5: Summer Season Pass: Building Loyalty, Satisfaction and Year-Round Growth
SUMMER SEASON PASS: BUILDING LOYALTY, SATISFACTION - ROUND GROWTH Strong Uptake Deeper • 260,000 passes sold Engagement in summer 2025 • Membership Rich momentum with 50%+ • Customers visited Customer 9x per pass this Data Y/Y units growth demonstrates strong summer Year Round demand • Higher satisf
Slide 6: Consistent Value Creation Through Acquisitions
CONSISTENT VALUE CREATION THROUGH ACQUISITIONS ↗ Acquired AMF at Enterprise Value of ↗ Lucky Strike acquired 85 Brunswick $310M. Lucky Strike put up $20M of equity locations from Brunswick in 2014 for $260M. funding in 2013 In the same year entered Sale-Leaseback Deployed $700M of ↗ Lucky Strike bes
Slide 7: Growing Portfolio of Assets in Diversified and Attractive Markets
GROWING PORTFOLIO OF ASSETS IN DIVERSIFIED AND ATTRACTIVE MARKETS 369 operating locations as of February 2026 Well positioned in highly attractive markets across North America Robust acquisition pipeline supports unit growth Acquired Boomers which provides platform for FECs Lucky Strike and Other Br
Slide 8: Well-Diversified Portfolio + Product Offerings
WELL -DIVERSIFIED PORTFOLIO + PRODUCT OFFERINGS Lucky Strike’s Brands Cater to Wide Array of Consumers & …With New Contributions to Non-Bowling Experiences… Revenue Improving Topline Diversity …FY25 (1) Diversified by Price… 19% Cost Conscious X X X X X X Premium / Higher- X X X End …And Experience
Slide 9: Driving Higher Average Unit Volumes Through WAL Gains via Improved and Bigger Venues
DRIVING HIGHER AVERAGE UNIT VOLUMES THROUGH WAL GAINSVIA IMPROVED AND BIGGER VENUES AVERAGE REVENUE PER LOCATION 9
Slide 10: Operating Cash Flow Generation and Capex Optimization Expected to Drive Deleveraging
OPERATING CASH FLOW GENERATION AND CAPITAL EXPEN OPTIMIZATION AND RATIONALIZATION EXPECTED -TO DRIVE LEVERAGING MOVING FORWARD CASH FLOW FROM OPERATIONS CAPITAL EXPENDITURES $194M $177M $155M $141M FY24 FY25 FY24 FY25 10
Slide 11: Rebrand Initiative
REBRAND INITIATIVE • We are currently at 98 Lucky Strike’s with the plan to sunset the Bowlero brand by the end of 2026 Old Lucky Strike Chelsea Piers 11
Slide 12: Rebrand Initiative: Lucky Strike Times Square
REBRAND INITIATIVE Lucky Strike Times Square 12
Slide 13: Rebrand Initiative: Lucky Strike Tyson's Corner
REBRAND INITIATIVE Lucky Strike Tyson’s Corner 13
Slide 14: Rebrand Initiative: Lucky Strike Naperville
REBRAND INITIATIVE Lucky Strike Naperville 14
Slide 15: Rebrand Initiative: Boomers Irvine
REBRAND INITIATIVE Boomers Irvine 15
Slide 16: Beverly Hills
BEVERLY HILLS
Slide 17: Ladera Ranch
LADERA RANCH
Slide 18: Wet 'n Wild Emerald Pointe
WET ‘N WILD EMERALD POINTE
Slide 19: Castle Park
CASTLE PARK
Slide 20: Significant Owned Property Portfolio
SIGNIFICANT OWNED PROPERTY PORTFOLIO 75 owned properties with $700M+(1) of potential value provides strategic and financial flexibility 1 High value property in Toronto, Canada 3 Prime location properties in Mexico 20 (1) Assumes sale-leaseback values of 12-14x of 50% of EBITDAR.
Slide 21: Appendix: Additional Financial Information
APPENDIX: ADDITIONAL FINANCIAL INFORMATION 21
Slide 22: Non-GAAP Reconciliations
NON -GAAP RECONCILIATIONS Note: The comparable location base changes from period to period as a result of fluctuations in the location population through acquisitions, new builds and closed centers. Revenue will be reflected in Same-Store Revenue after four full quarters of ownership of a location.
Slide 23: Non-GAAP Reconciliations
NON -GAAP RECONCILIATIONS 1) Total Location Revenue excludes closed location activity and media revenue, which is also a component of our operations. 2) Margins are calculated off of Adjusted Total Location Revenue (excl. Service Revenue) 3) Includes the non-recurring settlement of equity awards rel
Slide 24: Non-GAAP Reconciliations
NON -GAAP RECONCILIATIONS (1) For the fiscal year ended June 29, 2025 reflects a change in estimate in our self-insurance reserves related to claims that occurred prior to the beginning of the fiscal year, which resulted in a non-cash self-insurance reserve adjustment of $17,710. Also includes non-c
Slide 25: GAAP Rent to Cash Rent 1H26 & 1H25 Reconciliation
GAAP RENT TO CASH RENT 1H26&1H25RECONCILIATION 25
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