Lucky Strike Entertainment Corporation · NYSE:LUCK
Lucky Strike Entertainment — Q4 2026 Earnings Presentation
26 slides from Lucky Strike Entertainment's earnings presentation, Aug 27, 2026
Slide 1: Investor Presentation
August 2026 INVESTOR PRESENTATION 1
Slide 2: Disclaimer
DISCLAIMER Forward-looking statements Some of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risk, assumptions
Slide 3: Investment Thesis
INVESTMENT THESIS A location-based entertainment platform with proven history of superior returns 1 Market Leader in North American Bowling, Supported by High-Quality, Well-Recognized Brands 2 Large Addressable On-Location Entertainment Market Presents Meaningful Growth Potential 3 Well-Diversified
Slide 4: Consistent Annual Revenue Growth
CONSISTENT ANNUAL REVENUE GROWTH R E P O R T E D T O TA L R E V E N U E ( $ M ) $1,245M $1,201M $1,149M $1,038M $897M $672M FY19 FY22 FY23 FY24 FY25 FY26 4
Slide 5: Growing Portfolio of Assets in Diversified and Attractive Markets
GROWING PORTFOLIO OF ASSETS IN DIVERSIFIED AND ATTR MARKETS 366 operating locations as of August 2026 Well positioned in highly attractive markets across North America Robust acquisition pipeline supports unit growth Acquired Boomers which provides platform for FECs Lucky Strike and Other Brands to
Slide 6: Well-Diversified Portfolio + Product Offerings
WELL -DIVERSIFIED PORTFOLIO + PRODUCT OFFERINGS Lucky Strike’s Brands Cater to Wide Array of Consumers & …With New Contributions to Non-Bowling Experiences… Revenue Improving Topline Diversity …FY26 Diversified by Price… 20% Cost Conscious X X X X X X Premium / Higher- X X X End …And Experience 45%
Slide 7: Driving Higher Average Unit Volumes Through WAL Gains
DRIVING HIGHER AVERAGE UNIT VOLUMES THROUGH WAL GAINS VIA IMPROVED AND BIGGER VENUES AV E R A G E R E V E N U E P E R L O C AT I O N +6% FY19–FY26 CAGR $3.3M $3.4M $3.5M $3.2M $2.8M $2.4M FY19 FY22 FY23 FY24 FY25 FY26 7
Slide 8: Reinvigorating Leagues Business Brings Steady Traffic to Business
REINVIGORATING LEAGUES BUSINESS BRINGS STEADY CON TRAFFIC TO BUSINESS R E C E N T L E A G U E S M O N T H LY G R O W T H +7.4% +6.0% +5.3% +4.5% APR26 MAY26 JUN26 JUL26 8
Slide 9: Capital Expenditures: Down 20% Over FY25 and 42% Over FY24
CAPITAL EXPENDITURES: DOWN 20% OVER FY25 AND 42% OVER F CAPEX ($M) $194M –$104M (–54%) FROM PEAK $141M $114M $90M FY24 FY25 FY26 FY27 GUIDANCE 9
Slide 10: Long-Term 30%+ EBITDA Margins Remain Intact
LONG -TERM 30%+ EBITDA MARGINS REMAIN INTACT 4 - WA L L E B I T D A M AR G I N B Y V I N TAG E 42% 30% 500–1,000+ bps of profit margin opportunity as newer assets build into our system 2022+ vintage centers season toward mature-fleet economics, underpinning long-term 30%+ EBITDA margins PRE-2022 VIN
Slide 11: Lucky Strike Rebrand Is Complete
LUCKY STRIKE REBRAND 73% ISCOMPLETE L U C K Y S T R I K E : 2 1 7 L O C AT I O N S 159 COMPLETE 58 TO GO LUCKY STRIKE CONVERSIONS BY FISCAL YEAR 90 58 29 27 13 FY24 FY25 FY26 FY27 DONE FY27 SCHEDULED 11
Slide 12: Rebrand Initiative
REBRAND INITIATIVE • We are currently at 159 Lucky Strike’s with the plan to sunset the Bowlero brand near the end of 2026 Old Lucky Strike Chelsea Piers 12
Slide 13: Lucky Strike Gilbert (Phoenix Metropolitan)
REBRAND INITIATIVE Lucky Strike Gilbert (Phoenix Metropolitan) 13
Slide 14: Lucky Strike Tyson's Corner
REBRAND INITIATIVE Lucky Strike Tyson’s Corner 14
Slide 15: Lucky Strike Naperville
REBRAND INITIATIVE Lucky Strike Naperville 15
Slide 16: Beverly Hills
BEVERLY HILLS
Slide 17: Ladera Ranch
LADERA RANCH
Slide 18: Aliso Viejo
ALISO VIEJO
Slide 19: Wet 'n Wild Emerald Pointe
WET ‘N WILD EMERALD POINTE
Slide 20: Raging Waters
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Slide 21: Significant Owned Property Portfolio
SIGNIFICANT OWNED PROPERTY PORTFOLIO 75 owned properties with $700M+(1) of potential value provides strategic and financial flexibility 1 High value property in Toronto, Canada 3 Prime location properties in Mexico 21 (1) Assumes sale-leaseback values of 12-14x of 50% of EBITDAR.
Slide 22: Appendix: Additional Financial Information
APPENDIX: ADDITIONAL FINANCIAL INFORMATION 22
Slide 23: Non-GAAP Reconciliations
NON -GAAP RECONCILIATIONS FY25 vs. FY26 FY25 – FY26 | Quarterly FY 25 FY 26 1Q FY25 2Q FY25 3Q FY25 4Q FY25 1Q FY26 2Q FY26 3Q FY26 4Q FY26 (in thousands) 06/29/25 06/28/26 09/29/24 12/29/24 03/30/25 06/29/25 09/28/25 12/28/25 03/29/26 06/28/26 Total Revenue – Reported $1,201,333 $1,245,318 $260,195
Slide 24: Non-GAAP Reconciliations
NON -GAAP RECONCILIATIONS ADJUSTED LOCATION METRICS Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 (in millions) 10/01/23 12/31/23 03/31/24 06/30/24 09/29/24 12/29/24 03/30/25 06/29/25 09/28/25 12/28/25 03/29/26 06/28/26 Revenue Retail $152 $180 $220
Slide 25: Non-GAAP Reconciliations
NON -GAAP RECONCILIATIONS Fiscal Year Ended Three Months Ended (in thousands) June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 Consolidated Revenues $1,245,318 $1,201,333 $303,948 $301,182 Net (loss) income – GAAP (35,777) (10,022) (26,174) (74,716) Net (loss) income margin -2.9% -0.8% -8.6%
Slide 26: GAAP Rent to Cash Rent Walk
GAAP RENT TO CASH RENT — WALK FY26 & FY25 Item FY26 FY25 Form 10-K Location Reduction of operating lease right of use assets (amortization) 38.4 36.9 Consolidated Statement of Cash Flows (Operating activities) Change in operating lease liabilities (payments less interest) (30.4) (14.4) Consolidated
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