Zevia Pbc · NYSE:ZVIA
Zevia Pbc — Midwest IDEAS Investor Conference 2025
34 slides from Zevia Pbc's conference presentation, Aug 26, 2025
Slide 1: Investor Presentation August 2025
'é tevia INVESTOR PRESENTATION AUGUST 2025 . g :.
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation and the related earnings press release contain “forwandooking statements” within the meaning of the safe hanbor provisions of the U.S. Private Securities Litigation Reform Act of 4995. Forwarddooking statements include, without limitation, any statement t
Slide 3: Mission: Creating a World of Better-for-You Flavor
Zevla MISSION... } w- CREATING A WORLD OF BETTER-FOR-YOU FLAVOR, BETTER FOR PEOPLE
Slide 4: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS “a “a “a “a “a High-Growth, Emerging Category Well positioned to capitalize on the $270 billion liquid refreshment beverages market? within the fast- growing “better-for-you” soda segment Distinctive Market Positioning Stands at the intersection of health and taste, offerin
Slide 5: Company Overview
COMPANY OVERVIEW fv
Slide 6: Zevia - Snapshot
ZEVIA - SNAPSHOT More affordable than +23% 65% 37K +35% More spend on total beverages? ii-year wasenIeS of all non-alcoholic Total Distribution CAGR beverages Points? 0 93K +31% 5.1% Plastic bottles Metric tons of sugar More total beverage Household sold removed from diets trips? Penetration* TRWA 1
Slide 7: Brand Positioning
BRAND POSITIONING aA “Soda Made Better” MOEN Unf feCcslle als Better-for-You no fake claims with zero sugar, should be available zero calories and . . for all consumers, wee , Radically real in a world . no artificial ingredients se ” across usage occasions awash with “fake . (at an affordable price
Slide 8: Slide 8
Slide 9: Distinctive Soda Portfolio + Emerging Energy Drink Line
DISTINCTIVE SODA PORTFOLIO + EMERGING ENERGY DRINK LINE a 7evla,
Slide 10: Soda Made Better
SODA MADE BETTER Mainstream Diet/ YOOOO DOM Mainstream Regular Soda 30-45*g Sugar High Fructose Corn Syrup Fake Colors Artificial Flavors Zero Calories Scary Sounding Ingredients > ae @ > St Zero Soda Zero Sugar Artificial Sweeteners (Aspartame, Sucralose, Erythritol) Fake Colors Artificial Flavors
Slide 11: Distribution Overview
DISTRIBUTION OVERVIEW amazon ZeVla.com ae Natural 20% SPROUTS MARKET FARMERS MARKET Food/Drug, /Mass 52% Walmart >'< wriacr >Albertsons Tewia sures SPINS/IRI Consumen Panel, 52 weeks ending 7/19/25 4. From Company Management. rrr
Slide 12: Scalable Asset Light Business Model
SCALABLE ASSET LIGHT BUSINESS MODEL 9 9 Co-manufacturers a. 2. 3. 4. East York (Toronto), Ontario Fitzgerald, GA Temple, TX Scotia, NY Warehouse TPONP Las Vegas, NV Ft. Worth, TX Macon, GA Myerstown, PA Indianapolis, IN 5. Worcester, MA 6. Bellevue, WA 7. Richmond, CA 8. Denver, CO 5. Fitzgerald, GA
Slide 13: Seasoned Management Team
SEASONED MANAGEMENT TEAM Kirsten Suarez Senior Vice President, Amy E. Taylor President and Chief Financial Officer and Chief Executive Principal Accounting Marketing and Officer Officer Chief Marketing Joined Zevia 2024 Joined Zevia 2024 Officer Appointed CEO 2022 Joined Zevia 2023, Fredo Guarino Se
Slide 14: Net Sales, Gross Profit, Adjusted EBITDA
($ in Millions) NET SALES GROSS PROFIT ADJUSTED EBITDA? $166.4 $74.8 $155.0 $71.8 $(3.0) $40.7 $79.2 $82.5 $34.7 $(9.8) $(45.2) $(19.0) 2023 2024 1H 24 1H 25 2023 2024 1H 24 41H 25 2023 2024 1H 24 41H 25 % Growth % of Net Sales % of Net Sales 2.0% (6.8)% (7.4% 4.2% 44.9% 46.4% 48.8% 49.3% N/A? N/A?
Slide 15: Category Overview
E. &b CATEGORY OVERVIEW
Slide 16: Consumer Macro Trends Accelerating Shift Better-for-You
CONSUMER MACRO TRENDS ACCELERATING SHIFT 10 BETTER-FOR-YOU >» Sugar Reduction Sugar reduction is the #4 health concern among Consumers, motivating them to seek beverages with no or low-sugar = Natural Ingredients Consumers increasingly seeking to buy products with natural, recognizable ingredients v
Slide 17: Better-for-You Disrupting the CSD Category
BETTER-FOR-YOU DISRUPTING THE CSD CATEGORY CATEGORY $ % GROWTH Total US Multi Outlet + Natural Channels, Latest 52 Weeks 53% $1.5B MODERN SODA 7% 10% +75% oe ine Total CSD Diet CSD Modern CSD MARKET MODERN SODA GROWTH CSD GROWTH OPPORTUNITY OUTPACING CATEGORY PROJECTIONS ZOWIA Source: sPisicincenasc
Slide 18: Typical Modern Soda Shopper
TYPICAL MODERN SODA SHOPPER VS. AVERAGE US SHOPPER GEN Z & HIGH OMNI HEALTH PAY FOR MILLENNIAL || INCOME || CHANNEL || INVOLVED || PREMIUM (Over $125k) Fewer discretionary More likely to be purchase Physically active + Willing to pay a price (Ages: 25-34) spending concerns across channels + online p
Slide 19: Growth Pillars
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Slide 20: Strategic Growth Pillars Drive Momentum
STRATEGIC GROWTH PILLARS DRIVE MOMENTUM Growth pillars in place to DELIVER ; 7ewla : *) capitalize on strong PROFITABILITY category tailwinds EXPAND DISTRIBUTION DRIVE PRODUCT AMPLIFY INNOVATION MARKETING 7evla,
Slide 21: Amplify Marketing
AMPLIFY MARKETING EXPANDING REACH AND DEEPENING ENGAGEMENT | 2 Build brand awareness with a sharp brand image — radically real (“get the fake out of here,”) in a world awash with fake | 2 Deepen customer engagement through 360-degree marketing approach: digital, social, IRL, in-store... » Higher inv
Slide 22: Amplify Marketing: National Brand and Product Campaigns
AMPLIFY MARKETING LAUNCHED NATIONAL BRAND AND PRODUCT CAMPAIGNS zevia 22
Slide 23: Amplify Marketing: Nimble Scalable Marketing Ecosystem
AMPLIFY MARKETING EXECUTE NIMBLE SCALABLE MARKETING ECOSYSTEM OOF PR & EARNED sonoen MEDIA PARTNERSHIPS = OB ono INFLUENCERS & sOciA ME a. NEW PRODUCT SHOPPER MARKETING yee LAUNCHES MARKETING el 7evla, Proprietary 2025 Zevia, LLO 23
Slide 24: Drive Product Innovation
DRIVE PRODUCT INNOVATION ACCELERATE PIPELINE OF NEWNESS | Created a robust and continuous pipeline with an expanded offering of great taste better-for-you beverages | Enhanced taste profile that differentiates Zevia from the pack: now bolder flavor, no aftertaste (health AND taste) | A wide range of
Slide 25: Drive Product Innovation: On Trend Flavors and LTOs
DRIVE PRODUCT INNOVATION ON TREND FLAVOR INTRODUCTIONS & LIMITED-TIME OFFERINGS DRIVE EXCITEMENT Orange Creamsicle #1 Zevia SKU at Sprouts! stavberry Loon Burst Strawberry Lemon Burst Among highest selling flavors where sold Salted Caramel Limited-time offering (“ LTO”) y, 7evla, 25
Slide 26: Drive Product Innovation: Enhanced Flavor Profile
DRIVE PRODUCT INNOVATION ENHANCED FLAVOR PROFILE LEVERAGING NEW STEVIA SWEETENER BLENDS .. supported by refreshed packaging that underscores value proposition 7evla, 26
Slide 27: Drive Product Innovation: Pack Size Innovation
DRIVE PRODUCT INNOVATION PACK SIZE INNOVATION Ne . . 1 TEROSUGARSI % Broad Launch of 12-Pack and 8-Pack Variety Packs at retail to drive trial and provide unique value to the consumer “pune & of ap B jl Le ZOVIAS - TEROSUGARSIOA § ™\7eWa\ZOWla vevla 1eut) Rolling out variety pack across ~80% of groc
Slide 28: Expand Distribution
EXPAND DISTRIBUTION DRIVE HOUSEHOLD PENETRATION & AWARENESS | Broaden consumer reach and leverage channels to invite trial and increase velocity | Fill distribution gaps across channels including mass, club and food | Build presence in impulse channel with singles offering 7Zevia ” - WEPACKED APUNCH
Slide 29: Retailers Investing Heavily in Modern Soda
EXPAND DISTRIBUTION RETAILERS INVESTING HEAVILY IN MODERN SODA TO MEET CONSUMER DEMAND Walmart >'< “Modern Soda” * 4,300 Walmart stores =° Supports Zevia’s growing household penetration 4) Albertsons | ita “Next Gen Bev” ~2,300 Albertsons stores Zevia’s expanded shelf space, new items and “eye level
Slide 30: New Distribution Opportunity Is Significant
EXPAND DISTRIBUTION NEW DISTRIBUTION OPPORTUNITY IS SIGNIFICANT LOW PENETRATION TODAY CVS pharmacy” 1B) 5] fey Sysco vijsne. a Costco eee U. @ PHARMACY Drug Warehouse Club Convenience Foodservice % Stores Selling <1% <1% <1% <1% Zeula, Proprietary 2025 Zevia, LLC 30
Slide 31: Deliver Profitability
DELIVER PROFITABILITY PATH TO ACCELERATED GROWTH & PROFITABILTY DRIVEN BY PRODUCTIVITY INITIATIVE Q2 2025 Unit Economics increased 86% over 2-year period paving the way for profitable growth C#86.0%> my 72 $3.25 $3.34 $3.00 $2.49 e200 $1.82 a 27 se | sm | os | “* “ .* an — — Margin Contribution Prof
Slide 32: Key Takeaways
KEY TAKEAWAYS High-Growth, Emerging Category Distinctive Market Position Strong Consumer Loyalty & Repeat Purchase Behavior Multiple Growth Levers Scalable Asset-Light Business Model
Slide 33: Zevia
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Slide 34: Profit & Loss and Adjusted EBITDA Reconciliation
PROFIT & LOSS AND ADJUSTED EBITDA RECONCILIATION ($ in Millions) 022025 022024 022028 Q22025YTD O22024YTD Q22023YTD FY 2024 Fy2023 FY 2022 Net Sales $44.5 $40.4 $42.2 $82.5 $79.2 $85.5 $155.0 $166.4 $163.2 % Growth 10.1% 4.3% 7.2% 4.2% 7.4% 2.4% 6.8% 2.0% 18.1% Cost of Good Sold $22.8 $23.5 $22.5 $4