Slide 1: Fourth Quarter and Full Year 2025 Financial Results Call
Fourth Quarter and Full Year 2025 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 • Q4 and FY 2025 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 Q4 and FY 2025
Highlights for Q4 and FY 2025 • Delivered the first annual net sales growth and 20%+ Adjusted EBITDA1 margins since 2021. • Net sales of $613.5M delivered core growth each quarter in 2025, finishing with 13.5% in Q4. • FY25 core net growth of 6.6% driven by ~3.8% volume and ~2.8% pricing. • Growth a
Slide 6: Q4 Financial Results & 2025 Business Highlights
Q4 Financial Results & 2025 Business Highlights 2025 Q4 Results Business Business Highlights Highlights Net Gross New NewProducts ProductsLaunched LaunchedininQ3 Q4Across AcrossDivisions Divisions Sales Margin Along with $155.4 M 46.8% many more! Snell 2025 Helmets APR Power Packages Range DFM Modul
Slide 7: Q4 Growth in Divisions and Key Brands (Core Business)
Q4 Growth in Divisions and Key Brands (Core Business) 10.0% 5.4% 21.5% 13.3% Focused resources and clear accountability driving Power & Lifestyle brand growth across divisions 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: Strategic Initiative Tracker | Q4 Wins & FY 2025 Total
Strategic Initiative Tracker | Q4 Wins & FY 2025 Total Pillar Q4 FY2025 Details • Product data quality investments drove ~$11m in revenue in 2025, by enabling broader portfolio Trailblazing Trusted + $14.7M adoption across key customer platforms. PARTNER • Top Customer partnerships delivered strong
Slide 10: 2026 – Full Throttle Forward – Select Examples
2026 – Full Throttle Forward – Select Examples Driving Growth (Select Examples) Operational Excellence Premier CONSUMER Trailblazing Trusted Product INNOVATION & GLOBAL Expansion Journey PARTNER Portfolio Management FUND the Growth & NEW Markets Product Innovation and International Launch Group Succ
Slide 11: Q4 & FY25 Financial Results
Q4 & FY25 Financial Results Jesse Weaver Chief Financial Officer 11
Slide 12: Financial Priorities | Full Year Impact 2025
Financial Priorities | Full Year Impact 2025 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 o
Slide 13: 4Q25 Key Metric Recap
4Q25 Key Metric Recap $ millions (except per share) 4Q25 4Q24 B/(W) Net Sales1 $155.4 $140.1 10.9% | 13.5%2 Gross Margin 46.8% 45.6% +120 bps SG&A (incl. R&D) $47.9 $39.4 $(8.5) Net Income (Loss) $6.3 $(37.8) $44.1 Adj. Net Income3 $4.6 $12.6 $(8.0) Adj. Diluted EPS3 $0.04 $0.11 $(0.07) Adj. EBITDA3
Slide 14: Free Cash Flow Generation
Free Cash Flow1 Generation Free Cash Flow Pre-M&A ($M) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 FY25 Free Cash Flow $34.2 million marks third consecutive year of positive free cash flow generation. 1) Non-GAAP measure. Please see the GAAP to Non-GAAP reconcilia
Slide 15: 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 Covenant Net $584.4 $553.4 $536.0 $515.3 $515.1 $511.8 $520.7 $508.2 $492.9 $492.3 Debt Net Debt1 $573.3 $543.1 $526.4 $503.1 $505.6 $496.5 $512.2 $486.3
Slide 16: FY25 Key Metric Recap
FY25 Key Metric Recap $ millions (except per share) FY25 FY24 B/(W) Net Sales1 $613.5 $602.2 1.9% | 6.6%2 Gross Margin 43.4% 39.6% +378 bps SG&A (incl. R&D) $165.0 $150.9 $(14.1) Net Income (Loss) $19.2 $(23.2) $42.4 Adj. Net Income (Loss)3 $21.2 $24.8 $(3.6) Adj. Diluted EPS3 $0.18 $0.20 $(0.02) Ad
Slide 17: Financial Guidance – Full Year 2026
FINANCIAL GUIDANCE – FULL YEAR 2026 Outlook ($ millions) FY26 Guidance Net Sales $625 - $655 million Adjusted EBITDA1 $127 - $137 million Capital Expenditures $15 - $20 million Depreciation and Amortization $24 - $26 million Interest Expense $42 - $47 million (excluding Mark-to-Market on Collar) Wel
Slide 18: Financial Priorities – 2026 Targets
Financial Priorities – 2026 Targets 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 th
Slide 19: Q&A
Q&A Matt Stevenson Jesse Weaver Chief Executive Officer Chief Financial Officer 19 19
Slide 20: 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 21: Appendix
- Holle ey PERFORMANCE BRANDS
Slide 22: Interest Rate Collar #1 Feb 2023 to Feb 2026 Summary
Interest Rate Collar #1 Feb 2023 to Feb 2026 Summary Key Terms Effective Date 2/18/2023 Maturity Date 2/18/2026 Holley Inc. Buys a Cap 5.000% Holley Inc. Sells a Floor 2.811% Index 3 Month Term SOFR Premium Zero 22
Slide 23: Interest Rate Collar #2 Feb 2026 to Nov 2028 Summary
Interest Rate Collar #2 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 23
Slide 24: 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 1Q25 2Q25 3Q25 4Q25 Net Income (Loss) $ (24.1) $ (30.4) $ (24.9) $ 19.2 Adjustments: Depreciation 10.4 9.9 10.4 9.7 Amortization of intangibl
Slide 25: 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 For the year ended December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Net i
Slide 26: 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) 2020 2021 2022 2023 2024 2025 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Net Cash provided by (used in) operating activities $ 12.8
Slide 27: 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 For the year ended December 31, December 31, December 31, December 31, 2025 202