Slide 1: Investor Presentation: Fourth Quarter 2025 and Fiscal Year 2025
INVESTOR PRESENTATION FOURTH QUARTER 2025 AND FISCAL YEAR 2025
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: ALOE
ALOE
Slide 4: Our Mission is to Create a More Flavorful World
CEO & CFO COMMENTARY “We closed 2025 with strong execution, delivering revenue above the high end of our guidance and adjusted EBITDA in the upper half of our guidance range. More importantly, we took deliberate decisions to navigate tariff pressure, protect profitability, and simplify the business
Slide 5: FY 2025 at a Glance
FY 2025 AT A GLANCE Revenue Mix $560MM 39.2% Revenue Gross Margin 24% 53% 23% $70MM 12.5% Adj. EBITDA (1) Adj. EBITDA Margin (1) Grills Consumables Accessories 5
Slide 6: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS SUMMARY SNAPSHOT $MM $162MM QUARTER-END vs. LIQUIDITY $165MM in 4Q 2024 • Ample liquidity entering 2026 • Balance sheet health is a key priority for management and is supported by ongoing profitability measures $384MM vs. NET DEBT (2) $394MM in 4Q 2024 6
Slide 7: Financials
FINANCIALS a TRAEGER
Slide 8: 4th Quarter 2025 Revenue Results
4th QUARTER 2025 REVENUE RESULTS TOTAL REVENUE $MM $169 $145 4Q 2024 4Q 2025 GRILLS REVENUE CONSUMABLES REVENUE ACCESSORIES REVENUE $MM $MM $MM (17.9%) $78 $60 15.8% $61 $49 $36 $31 4Q 2024 4Q 2025 4Q 2024 4Q 2025 4Q 2024 4Q 2025 8
Slide 9: 4th Quarter 2025 Profitability Results
4th QUARTER 2025 PROFITABILITY RESULTS GROSS PROFIT $MM 40.9% 37.4% Gross Margin $69 $54 4Q 2024 4Q 2025 ADJUSTED EBITDA (1) $MM 10.9% 13.3% Adjusted EBITDA Margin (1) $18 $19 4Q 2024 4Q 2025 ADJUSTED NET INCOME (3) $MM $2 $2 4Q 2024 4Q 2025 9
Slide 10: FY 2025 Revenue Results
FY 2025 REVENUE RESULTS TOTAL REVENUE $MM $604 $560 FY 2024 FY 2025 GRILLS REVENUE CONSUMABLES REVENUE ACCESSORIES REVENUE $MM $MM $MM $325 $298 (16.3%) $160 $119 $127 $134 FY 2024 FY 2025 FY 2024 FY 2025 FY 2024 FY 2025 10
Slide 11: FY 2025 Profitability Results
FY 2025 PROFITABILITY RESULTS GROSS PROFIT $MM 42.3% 39.2% Gross Margin $255 $219 FY 2024 FY 2025 ADJUSTED EBITDA (1) $MM 13.6% 12.5% Adjusted EBITDA Margin (1) $82 $70 FY 2024 FY 2025 ADJUSTED NET INCOME (LOSS) (3) $MM $6 ($16) FY 2024 FY 2025 11
Slide 12: Guidance for Full Fiscal Year 2026
GUIDANCE FOR FULL FISCAL YEAR 2026 METRIC LOW HIGH FISCAL 2026 GUIDANCE Total Revenue $465MM $485MM Gross Margin 38.0% 39.0% Adj. EBITDA (1) $50MM $60MM Free Cash Flow (4) $30MM FISCAL Q1 2026 GUIDANCE Total Revenue $92MM $97MM Adj. EBITDA (1) $3MM $7MM 12
Slide 13: Appendix
APPENDIX 13
Slide 14: Footnotes
FOOTNOTES 1. Adjusted EBITDA and Adjusted EBITDA 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, and Net Loss Margin, respectively. A reconciliation of Adju
Slide 15: Information Regarding Non-GAAP Financial Measures
INFORMATION REGARDING NON-GAAP FINANCIAL MEASURES In addition to our results and measures of performance and, in the case of free cash flow, our liquidity, determined in accordance with U.S. GAAP, we believe that certain non-GAAP financial measures are useful in evaluating and comparing our financia
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 RECONCILIATION OF DEBT TO NET DEBT December 31, (dollars in thousands) 2025 Line of credit - Current portion of notes payable 250 Notes payable, net of current portion 399,590 Add: Debt issuance costs 3,485 L
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 Three Months Ended Year-ended December 31, December 31, 2025 2024 2025 2024 (dollars in thousands, except share and per share amounts) Net loss $ (17,200) $ (6,958) $ (115,181) $ (34,008) Adjustments: Other i