Slide 1: Quarterly Summary Q3 2025
Quarterly Summary Q3 2025 December 10, 2025 PAGE 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain information in this presentation contains forward-looking information. This information is based on management’s reasonable assumptions and beliefs in light of the information currently available to us and are made as of December 10, 2025. Actual results and the ti
Slide 3: Our Roots
Our Roots Roots was founded in 1973 by Michael Budman and Don Green, who met at summer camp in Algonquin Park, where they first fell in love with the ideals and beauty of Canada. Starting from a little cabin, they were inspired by nature and Canada's wilderness to create Roots. With its uncompromisi
Slide 4: Iconic Canadian Brand with a Global Community
Iconic Canadian Brand with a Global Community 1 Rich heritage of delivering high-quality, versatile and stylish products to customers that span all ages and genders High-Quality, Versatile, Purpose-Driven Products 2 Mix of iconic classics and new pieces that resonate with customers Omni-Channel Stra
Slide 5: Q3 2025 Financial Overview
Q3 2025 Financial Overview • Sales of $71.5M, a 6.8% increase compared to $66.9M last year o DTC sales were $56.8M, compared to $54.2M last year o DTC comparable sales growth was +6.3% • DTC gross margin improved 140bps year-over-year o DTC product margin increased by 140bps, driven by improved cost
Slide 6: Q3 Product Highlights
Q3 Product Highlights • Continued to refine our go-to-market process and gained momentum in merchandising, driving alignment and efficiency. • Delivered strong results across multiple collections, including the new Roam travel capsule, featuring modern basics with technical attributes, and Cloud, ou
Slide 7: Brand & Customer Engagement in Q3
Brand & Customer Engagement in Q3 • Our brand-building efforts remain a core driver of long-term value and a key pillar of our growth strategy. • Marketing initiatives included new store openings in Vancouver and Toronto, Fall/Winter product launches, and an enhanced campus presence at the Universit
Slide 8: Q3 Operational Initiatives
Q3 Operational Initiatives • Our omnichannel strategy continued to strengthen customer engagement by enabling shopping anywhere, anytime, and in any way they choose, driving positive results. • We delivered strong retail conversion gains through improved product storytelling, disciplined inventory m
Slide 9: Q3 Sales Summary
Q3 Sales Summary Total Sales DTC Sales P&O Sales $71.5M $66.9M $56.8M $54.2M $14.6M $12.7M Q3-2024 Q3-2025 Q3-2024 Q3-2025 Q3-2024 Q3-2025 • DTC sales growth underpinned by +6.3% • DTC sales growth was driven by enhancements • The increase in P&O sales was driven by comparable sales growth, with a +
Slide 10: Q3 Gross Margin
Q3 Gross Margin Total Gross Margin DTC Gross Margin 65.4% 64.0% 60.0% 60.8% Q3-2024 Q3-2025 Q3-2024 Q3-2025 • DTC product margin expansion (+) • 140bps increase from improved DTC product costing and lower • Greater mix of lower-margin wholesale sales within the P&O discounting (+) segment (-) • Unfa
Slide 11: Q3 SG&A Expenses
Q3 SG&A Expenses $0.7M $0.3M $0.1M $2.6M $38.2M $34.5M Q3-2024 Higher Variable Selling Higher Share-based Incremental U.S. Duties Unfavourable Q3-2025 SG&A Costs, Investments in Compensation and on eCommerce Sales Revaluation of Cash- SG&A Marketing & Personnel Changes in Key Personnel Settled DSUs
Slide 12: Q3 Net Income
Q3 Net Income Net Income Net Income excluding Cash-Settled DSUs $2.4M $2.3M $2.3M $2.4M Q3-2024 Q3-2025 Q3-2024 Q3-2025 3.6% of sales 3.2% of sales 3.5% of sales 3.3% of sales Net income per share Net income per share $0.06 $0.06 PAGE 12
Slide 13: Q3 Adjusted Net Income and Adjusted EBITDA
Q3 Adjusted Net Income and Adjusted EBITDA Adjusted Net Income (1) Adjusted EBITDA(1) $7.1M $7.5M $2.8M $3.3M Q3-2024 Q3-2025 Q3-2024 Q3-2025 4.1% of sales 4.5% of sales 10.6% of sales 10.5% of sales Adj. Earnings per Share Adj. Earnings per Share $0.07 $0.08 • Excluding the DSU revaluation expense
Slide 14: Q3 Balance Sheet Highlights
Q3 Balance Sheet Highlights Net Debt(1) $34.5M Total Liquidity ~1.9x Leverage Ratio (1) $46.9M $44.1M $66.6M (10.3% YoY increase) Healthy Inventory Position 415K Common shares Repurchased in Q3, at $1.3M Q3-2024 Q3-2025 NCIB Buyback(2) (1) Net Debt is a non-IFRS measure defined as long-term debt les
Slide 15: Summary
Summary • Q3 marked another quarter of positive sales momentum and positive underlying margins on those sales. • Balance sheet remains strong with declining net debt and ample liquidity. • Inventory is healthy, with improved inventory positions ahead of peak holiday selling periods. • Early into the
Slide 16: Appendix
Appendix PAGE 16
Slide 17: Non-IFRS Measures and Industry Metrics
Non-IFRS Measures and Industry Metrics This presentation makes reference to certain non-IFRS measures including certain metrics specific to the industry in which we operate. These measures are not recognized measures under International Financial Reporting Standards as issued by the International Ac
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