Slide 1: Q1-26 Investor Presentation
Q1-26 INVESTOR PRESENTATION JUNE 16, 2026
Slide 2: Disclaimer (1/2)
DISCLAIMER (1/2) In this presentation, all references to “$” and “C$” are to Canadian dollars. Forward-Looking Statements This presentation contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may relate to the Company’s
Slide 3: Disclaimer (2/2)
DISCLAIMER (2/2) Market and Industry Data Market and industry data presented throughout this presentation were obtained from third-party sources, industry reports and publications, websites and other publicly available information, as well as industry and other data prepared by us or on our behalf,
Slide 4: Q1-26 Highlights
Q1-26 HIGHLIGHTS 13-WEEK PERIOD ENDED MAY 2, 2026 $310.6mm 37.0% REVENUE YOY GROWTH 22.6% 5 $50.6mm 35.7% COMPARABLE STORE SALES1 NEW GARAGE STORE OPENINGS E-COMMERCE REVENUE YOY GROWTH 67.4% 530 bps 30.5% 190 bps 36.8% 730 bps YoY YoY YoY ADJUSTED EBITDA MARGIN4 GROSS MARGIN2 ADJUSTED SG&A MARGIN3
Slide 5: FY-25 Highlights
FY-25 HIGHLIGHTS 52-WEEK PERIOD ENDED JANUARY 31, 2026 $1,310.2mm 36.7% REVENUE YOY GROWTH 26.7% 9 $247.8mm 44.2% COMPARABLE STORE SALES1 NET NEW STORES, CONSISTING OF 20 YOY GROWTH OPENINGS AND 11 CLOSURES2 E-COMMERCE REVENUE 63.8% 100 bps 27.3% 390 bps 36.5% 490 bps YoY YoY YoY ADJUSTED EBITDA MAR
Slide 6: FY-26 Guidance
FY-26 GUIDANCE 11.0 – 14.0 % 22.0 – 25.0 % COMPARABLE STORE SALES GROWTH TOTAL REVENUE GROWTH 24 - 261 38.25 – 39.50 % NEW STORE OPENINGS ADJUSTED EBITDA MARGIN (8 - 10 NET NEW STORES) REVISED FROM 37.75% - 39.25% REVISED FROM 10 -12 $100 to $110mm CAPITAL EXPENDITURES Note: All figures and informat
Slide 7: Our Shared Values
OUR SHARED VALUES OWNERSHIP BOLDLY DRIVING GREAT WORK AND CELEBRATING DO WHAT YOU SAY. OUR ACHIEVEMENTS. CUSTOMER FOCUS KNOW THE CUSTOMER ANYWHERE AND WOW THEM CUSTOMER COMES FIRST. EVERYWHERE. CURIOSITY CURIOUS MINDS UNLOCK CREATIVITY, DRIVE GROW THROUGH DISCOVERY. ACCELERATION, AND CULTIVATE GROWT
Slide 8: GRGD: Positioned for Long-Term Value Creation
GRGD: POSITIONED FOR LONG -TERM VALUE CREATION MARGIN 1. LEADERSHIP 2. RESILIENT REVENUE PROFILE 3. SUSTAINABILITY • A committed leadership team supported by • Our locations in prime real estate • Agility removes uncertainty, de-risks extensive retail experience and diverse surrounded by luxury allo
Slide 9: GDI's Leadership Team
GDI’S LEADERSHIP TEAM CHAIR OF THE BOARD PRESIDENT & CHIEF CHIEF FINANCIAL & CHIEF EXECUTIVE CHIEF OPERATING TECHNOLOGY OFFICER OFFICER OFFICER OFFICER SVP, SVP, LEGAL AFFAIRS & SVP, TALENT & BRAND GARAGE CULTURE CORPORATE SECRETARY A COMMITTED LEADERSHIP TEAM SUPPORTED BY EXTENSIVE RETAIL EXPERIENC
Slide 10: Our Journey Started More Than 50 Years Ago…
OUR JOURNEY STARTED MORE THAN 50 YEARS AGO… Andrew Lutfy and related entities complete acquisition of all shares of GDI GDI implements Opens in Place Launches in GDI grows transformation plan GDI IPOs at $21 per Targeting a total store Versailles mall in Carrefour Laval mall significantly in Launche
Slide 11: …And Accelerated in 2019 with Key Structural Pivots
…AND ACCELERATED IN 2019 WITH KEY STRUCTURAL PIVOTS COMPARABLE STORE SALES1 Shifted from a family business to a growth-oriented company, establishing a board, up-tiering STRUCTURAL CONTINOUS SUSTAINABLE the leadership team, and forming an employee ownership program¹ to align employees' interests TRA
Slide 12: We Thrive at the Intersection of Art & Science
WE THRIVE AT THE INTERSECTION OF ART & SCIENCE WITH A LUXURY-INSPIRED BUSINESS MODEL OUR LEFT BRAIN We obsess about taking time out of the supply chain, leading to increasing focus on speed, flexibility and data to effectively "de-risk" the business of fashion This rigorous approach is what allows u
Slide 13: Hot Unapologetic: Meet Alex
MEET ALEX THE CONFIDENT GIRL WHOSE NEW SENSE OF INDEPENDENCE HAS HER PUSHING BOUNDARIES ● 24 years old ● Unapologetic with a sexy femininity to her ● UCLA masters degree underway; figuring out her next move ● Her friends are her LIFE and capturing the content is KEY! ● Prioritizes wellness - pilates
Slide 14: Magnetic: Meet Rachel
MEET RACHEL DRESSING HER SOCIAL LIFE - WHEREVER IT TAKES HER ● 34 years old ● She’s a Digital Content Creator in NYC ● She portrays herself as a Brand; protects her equity ● She maintains her body with daily discipline & care ● Lives a highly curated & social life anchored in her inner circle ● Glob
Slide 15: Clear & Distinct Competitive Advantages…
CLEAR & DISTINCT COMPETITIVE ADVANTAGES… DISTINCT BRAND STRATEGY & UNDERSTANDING OF OUR CONSUMER PREMIER STORE PORTFOLIO STORES COMPLEMENTED BY A PROFITABLE E-COMMERCE BUSINESS WITH ROOM TO GROW DE-RISKED FASHION MODEL WITH INCREASED SPEED-TO-MARKET & FLEXIBILITY MARKET-LEADING INVENTORY MANAGEMENT
Slide 16: …Delivering Differentiated Outcomes
… DELIVERING DIFFERENTIATED OUTCOMES +20% ~12% 63.8% ~60% U.S. REVENUE CAGR AVERAGE UNIT RETAIL CAGR GROSS MARGIN ~40% OF STORE NETWORK (FY21-FY25) (FY19-25)1,2,3 (FY25)1 CONTRIBUTED TO ~60% OF 4-WALL EBITDA (FY25)1,2,4 9.85x ~6% ~50% < 8 weeks INVENTORY TURNOVER MARKDOWN RATE OF PURCHASING DECISION
Slide 17: GRGD: A Luxury-Inspired Business Model
GRGD: A LUXURY-INSPIRED BUSINESS MODEL SPECIALTY LUXURY SPECIALTY LUXURY 40% 40% 39% 39% 35% 11% 11% 18% 18% 19% 7% 8% 5% 4% 4% 5% 4% 14% 14% 2% 3% 12% 11% 12% GRGD ATZ FAST URBN AEO ANF LULU ITX GAP AVG. GRGD RICH PRA HER 8% 9% 8% 8% 9% 7% 7% -1% TOTAL REVENUE -6% -6% AVG. HM LVMH 0% GROWTH YOY%1 -
Slide 18: Two Brands with Distinct Identities and Clear Understanding of Consumer
TWO BRANDS WITH DISTINCT IDENTITIES AND A CLEAR UNDERSTANDING OF OUR CONSUMER SUPPORTED BY MULTIDISCIPLINARY TEAMS An Off-Duty brand that pushes the limits Multidisciplinary Teams A social calendar dressing brand. and raises the volume. driving shared insights Defined by refined sensuality. Owned We
Slide 19: Premier Store Portfolio
Canada PREMIER STORE PORTFOLIO 69 STORE LOCATIONS 169 Stores 100 U.S. 3 136 Stores 133 U.K. 2 Stores 2 Total 72 We operate a premier, profitable store portfolio across regions, with a growing U.S. footprint 307 spanning 40 states and a recent entry into the U.K. Stores 235 19 Note: Reflects store co
Slide 20: Stores Complemented by a Profitable E-Commerce Business
STORES COMPLEMENTED BY A PROFITABLE E-COMMERCE BUSINESS WITH ROOM TO GROW DRIVE WEB TRAFFIC MAXIMIZE SALES PER SESSION • Leverage technology to elevate creativity • Expand internationally into the UK and and storytelling on web and mobile apps beyond • Leverage data to optimize creatives • Reach new
Slide 21: De-Risked Fashion Model with Increased Speed-to-Market & Flexibility
DE-RISKED FASHION MODEL WITH INCREASED SPEED -TO- MARKET & FLEXIBILITY KEY STRATEGIES OUTCOMES Long Lead HIGH % OF OPEN-TO-BUY¹ 8% (> 15 weeks) We have grown the open purchasing dollars at the beginning of the season to HIGH % OF 47% make ~50% of our purchasing decisions in-season and respond to tre
Slide 22: Market-Leading Inventory Management System
MARKET-LEADING INVENTORY MANAGEMENT SYSTEM DRIVES LOWER MARKDOWNS & OBSOLESCENCE OVERVIEW OF “THE BRAIN” “THE BRAIN” DECISION MODEL CHART “The Brain” is a proprietary algorithm that determines the optimal shipping location for each order by optimizing for both customer Shipping Handling Location LEV
Slide 23: Disciplined & Data-Driven Approach to Marketing
DISCIPLINED & DATA -DRIVEN APPROACH TO MARKETING DATA-DRIVEN MULTI-CHANNEL COMMUNITY-FOCUSED ALWAYS RELEVANT Disciplined marketing investment Channel mix designed to power Creating a community at the forefront of Always on trend with a pulse and approach through centralized continuous growth and mom
Slide 24: Financial Profile with Compelling Revenue Growth & Enhanced Margins
FINANCIAL PROFILE WITH COMPELLING REVENUE GROWTH & ENHANCED MARGINS REVENUE GROSS PROFIT¹ % % Comparable 4.7% 9.5% 8.2% 12.3% 26.7% 56.4% 60.2% 60.8% 62.8% 63.8% 64.9% Margin1 Store Sales1 CAGR: 25% CAGR: 21% $905 $837 $1,310 $1,394 $602 $959 $487 $801 $420 $628 $697 $354 FY21 FY22 FY23 FY24 FY25 LT
Slide 25: Cash Generative Profile with Strong Returns
CASH GENERATIVE PROFILE WITH STRONG RETURNS • Supported by higher margins and highly efficient capital spend • Investments are aligned with returns thresholds and long-term strategic goals to strengthen our financial position and drive earnings growth CASH GENERATED FROM OPERATING ACTIVITIES RETURN
Slide 26: Capital Allocation Strategy
CAPITAL ALLOCATION STRATEGY AIMED TO GROW AND DELIVER SHAREHOLDER VALUE CAPITAL ALLOCATION PRIORITIES Our capital return strategy includes our share repurchase program and the recently announced $51 million targeted buyback with our principal shareholder in connection with the secondary offering Inv
Slide 27: Levers for Growth
LEVERS FOR GROWTH: TARGETED STRATEGIES TO ACCELERATE COMPARABLE STORE SALES AND EXPAND INTO NEW MARKETS E X PA N D & O P T I M I Z E S T O R E G R O W C O M PA R A B L E S T O R E S A L E S NETWORK IN NORTH AMERICA Increase Average Unit Retail1 Aim to open 24 to 26 additional stores through FY262 •
Slide 28: Merci – Thank You
MERCI – THANK YOU Investor Relations Contact: A l e x L i m o s a n i C FA , M a n a g e r, I n v e s t o r R e l a t i o n s & C o r p o r a t e F i n a n c e investor s@dynamite.ca 28
Slide 29: Non-IFRS to IFRS Reconciliation: Adj. EBITDA and Margin
NON-IFRS TO IFRS RECONCILIATION: ADJ. EBITDA AND ADJ. EBITDA MARGIN (In thousands of Canadian dollars) 2021A 2022A 2023A 2024A 2025A LTM Q1-26A Revenue $ 628,043 $ 697,442 $ 800,833 $ 958,525 $ 1,310,234 $ 1,394,157 Operating Income $ 45,343 $ 111,986 $ 145,191 $ 212,206 $ 377,687 $ 413,209 % Margin
Slide 30: Reconciliation: Adj. EBITDA After Rent Equivalent Expense
NON-IFRS TO IFRS RECONCILIATION: ADJ. EBITDA AND ADJ. EBITDA MARGIN (AFTER RENT EQUIVALENT EXPENSE) (In thousands of Canadian dollars) 2021A 2022A 2023A 2024A 2025A LTM Q1-26A Adjusted EBITDA $ 112,039 $ 181,685 $ 217,365 $ 303,267 $ 477,850 $ 525,443 % Margin 17.8 % 26.1 % 27.1 % 31.6 % 36.5 % 37.7
Slide 31: Non-IFRS to IFRS Reconciliation: Free Cash Flow
NON-IFRS TO IFRS RECONCILIATION: FREE CASH FLOW (In thousands of Canadian dollars) 2021A 2022A 2023A 2024A 2025A LTM Q1-26A Cash Generated from Operating Activities $ 126,386 $ 125,980 $ 145,765 $ 226,975 $ 420,737 $ 388,107 (-) Property and Equipment $(4,440) $(18,229) $(48,422) $(52,659) $(75,869)
Slide 32: Non-IFRS to IFRS Reconciliation: Return on Assets
NON-IFRS TO IFRS RECONCILIATION: RETURN ON ASSETS (In thousands of Canadian dollars) 2021A 2022A 2023A 2024A 2025A LTM Q1-26A Net Earnings $ 109,180 $ 62,846 $ 85,816 $ 135,768 $ 252,173 $ 276,517 (+) Stock-based Compensation Expense $ 8,962 $ 2,819 $ 2,804 $ 5,557 $ 6,341 $ 13,130 (+) Canada Emerge
Slide 33: Balance Sheet
BALANCE SHEET (In thousands of Canadian dollars) 2021A 2022A 2023A 2024A 2025A LTM Q1-26A Cash $ 94,666 $ 33,694 $ 8,135 $ 74,195 $ 82,478 $ 8,682 Inventories 42,214 40,028 38,627 44,952 51,219 54,747 Total Current Assets $ 156,509 $ 100,451 $ 83,458 $ 161,568 $ 206,789 $ 146,954 Property and Equipm