January 29, 2026
Non-GAAP Financial Measures
This presentation contains "Adjusted net (loss) income attributable to MarineMax, Inc.," "Adjusted diluted net (loss) income per common share," "Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization" ("Adjusted EBITDA"), and "Adjusted selling, general and administrative expenses" ("Adjusted SG&A"), which are non-GAAP financial measures as defined under applicable securities legislation. In determining these measures, the Company excludes certain items which are otherwise included in determining the comparable GAAP financial measures. The Company believes these non-GAAP financial measures are key performance indicators that improve the period-to-period comparability of the Company's results and provide investors with more insight into, and an additional tool to understand and assess, the performance of the Company's ongoing core business operations. Investors and other readers are encouraged to review the related GAAP financial measures and the above reconciliation and should consider these non-GAAP financial measures as a supplement to, and not as a substitute for or as a superior measure to, measures of financial performance prepared in accordance with GAAP.
In addition, we have not reconciled our fiscal year 2026 Adjusted net income and Adjusted EBITDA guidance to net income (the corresponding GAAP measure for each), which is not accessible on a forward-looking basis due to the high variability and difficulty in making accurate forecasts and projections, particularly with respect to acquisition contingent consideration, acquisition costs, and other costs. Acquisition contingent consideration and transaction costs, which are likely to be significant to the calculation of net income, are affected by the integration and post-acquisition performance of our acquirees, which is difficult to predict and subject to change. Accordingly, reconciliations of forward-looking Adjusted net income and Adjusted EBITDA are not available without unreasonable effort.
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MarineMax: A Worldwide Leader in Products, Services, and Experiences for the Recreational Marine Market
Over 70 boat dealerships featuring more than 30
exclusively marketed boat brands
Portfolio of more than 65 marina and storage locations across 15+ countries, highlighted by flagship brand, IGY Marinas
Diverse business mix includes marinas, yacht brokerage operations, finance and insurance, superyacht services and manufacturing
Innovative technology and digital offerings to create scale and support growth
Long culture of excellence, highlighted by
industry-leading net promotor scores
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Our Strategic Ambition
Achieve top-tier market performance as the premier global leader in boating and yachting, offering an unmatched and diverse portfolio of recreational experiences
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Expanding Leadership Across Diverse Lines of Business
Acquisition History Since 2019
Innovations Retail Operations Superyacht Services IGY Marinas New Wave
Finance & Insurance
Product Manufacturing
More Than 20 Acquisitions Since 2019
>$700 million of combined revenue
Skewed toward higher-margin
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Strategic Priorities by Business
Finance &
Strategic Focus
Innovation & Value Creation
Premium Ecosystem Integration
Focused Growth
Early-stage Growth
Growth & Efficiencies
Focused Growth
Retail Store Operations
Superyacht Services
IGY
Marinas
New Wave Innovations
Insurance Services
Product Manufacturing
Strategic Priority Drive incremental
value through brand and store portfolio optimization while leveraging digital analytics and AI to expand customer wallet share
Accelerate growth in high-margin segments by expanding global brokerage networks, charter fleets, and personalized services
Optimize growth & synergy opportunities
Create scale to support growth in a large marketplace
Scale offerings Innovate for future
growth while adjusting portfolio and production to adapt to current economic cycle
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Revenue Performance
($ in billions)
$2.31
$2.39
$2.43
$2.31
$2.06
$1.51
$1.24
FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
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We Provide Customers With a Highly Differentiated Boating Experience
More Than 30 Exclusively Marketed Brands, Including:
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Non-Boat Revenue Streams Have Significantly Expanded Our Margin Profile Since 2019
Growth in Non-Boat Sales and Total Gross Margin Improvement (FY19 vs. FY25)26.2%
15.0%
FY19 Consolidated Gross Margin: 26.1%
FY25 Consolidated
Gross Margin: 32.5%
FY 2019* FY 2025
Maintenace and repair Storage and charter rentals Finance and Insurance Parts and Accessories Brokerage sales*FY19 combined maintenance, repair, storage, and charter services as one category
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