Slide 1: First Quarter 2024
a rs "IRST QUARTER 2024 | | == sys (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 “In the first quarter, we executed on our plan and delivered revenue and adjusted EBITDA results at the high-end of our guidance range. As we anticipated, consumer demand for grills remained soft in the first quarter. Despite facing a challenging demand backdrop for our category, our
Slide 5: Traeger 1Q 2024 at a Glance
AN TRAEGER 1Q 2024 AT A GLANCE Revenue Mix SI45MM 43.2% Revenue Gross Margin $S24MM 16.8% Adj. EBITDA © Adj. EBITDA Margin ries = Consumables Ih TRAEGER
Slide 6: Growth Pillars: Quarterly Highlights
GROWTH PILLARS: QUARTERLY HIGHLIGHTS Accelerate Brand Awareness + Grew followers across all social channels by 11% versus IQ 2023 + Super Bowl focused content included recipes for the game using your Traeger and a guest appearance on The Dan Patrick Show demonstrating Game Day recipes + Record user-
Slide 7: Gross Margin Progression
GROSS MARGIN PROGRESSION GROSS MARGIN % 42.9% 43.0% 38.3% 2 a 39.5% if 7 : | : FY 2019 FY 2020 FY 2021 FY 2022 0 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 a
Slide 8: Balance Sheet and Liquidity
BALANCE SHEET AND LIQUIDITY cant Actions to Increase Financial Flexibility Available Liquidity (SMM) Signi Lowered Exposure to Rising Rates * Entered into floating-to-fixed interest rate swap agreement on First Lien Term Loan in February 2022 + Agreement provides for a notional amount of $379.2MM, h
Slide 9: Financials
FINANCIALS
Slide 10: 1st Quarter 2024 Revenue Results
ist QUARTER 2024 REVENUE RESULTS TOTAL REVENUE SMM $153 —_—_ $145 1Q 2023 1Q 2024 GRILL REVENUE CONSUMABLES REVENUE ACCESSORIES REVENUE $77 $30 See $33 g 1Q 2023 1Q 2024 1Q 2023 1Q 2024 1Q 2023 1Q 2024 Pe) 10 TRAEGER
Slide 11: 1st Quarter 2024 Profitability Results
ist QUARTER 2024 PROFITABILITY RESULTS GROSS PROFIT ov => @® Gross Margin $55 1Q 2023 ADJUSTED EBITDA © $MM C 4.3% @® Adjusted EBITDA Margin $22 1Q 2023 ADJUSTED NET INCOME @) SMM $I 1Q 2023 } TRAEGER $63 1Q 2024 $24 1Q 2024 $5 1Q 2024
Slide 12: Guidance for Full Year Fiscal 2024
GUIDANCE FOR FULL YEAR FISCAL 2024 Fiscal 2024 Guidance METRIC Total Revenue Gross Margin Adj. EBITDA © Ih TRAEGER LOW $580MM 39% $62MM HIGH S605MM 40% S7IMM Key Assumptions: Expected contraction in grill industry sales driven by continued pressure on high-ticket, home-related spend Lapping of the [
Slide 13: Appendix
APPENDIX 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 March 31, (amounts in thousands, except share and per share amounts) 2024 2023 Net loss (4,683) (10,930) Adjustments: Other income (1) (6,862) (1359) Stock-based compensation 10,
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 RECONCILIATION OF DEBT TO NET DEBT Gamounts March 31 2024 Line of creait $40,635 Current portion of notes payable Ed Notes payable, net of current portion 397,586 ‘Add: Debt issuance costs 5,926 Less: Cash an