SUPPLEMENTAL FINANCIAL PRESENTATION
January 29, 2026
EARNINGS HIGHLIGHTS
Thank You to the Team!
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2025 Operational MilestonesOpened 99 New Tractor Supply Stores and Five New Petsense Stores
Nearly 60% of Stores now in Fusion Layout
and More Than 700 Garden Centers High Single-Digit Digital Sales Growth Launched OpenAI Across Organization Broke Ground on 11th DC
Successfully Integrated Allivet
Neighbor's Club Sales Penetration
Topped 80% of Total Sales
Invested in Life Out Here Strategic Initiatives
Life Out Here 2030 Progress
Localization
Direct Sales
Pet & Animal Prescriptions
Final Mile Delivery
Retail Media
Exclusive Brands
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We are making significant progress on our Life Out Here 2030 strategy
FINANCIAL HIGHLIGHTS
NET SALES
$3.77B $3.90B
Q4 2024 Q4 2025
COMP SALES
0.6%
0.3%
Q4 2024 Q4 2025
Q42025
Comparable Ticket Increase of 0.3%
Continued Strength in Consumable, Usable and Edible Products
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Offset by Lack of Emergency Response and Ongoing Pressure in Discretionary Categories Including Big Ticket
FINANCIAL HIGHLIGHTS
GROSS MARGIN
as a % of net sales
35.2% 35.1%
SG&A EXPENSES
as a % of net sales
27.5%
26.8%
Q42025
Q4 2024 Q4 2025
Key Drivers
Ongoing Product Cost Management
Offset by Higher Tariff Costs, Incremental Promotional Activity and Increased Delivery-Related Transportation Costs
Q4 2024 Q4 2025
Key Drivers
Deleverage Primarily Attributed to Planned Investments and Fixed Cost Deleverage
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Partially Offset by Focus on Productivity and Ongoing Cost Control
Profitability
NET INCOME
DILUTED EPS
$236.4M
$227.4M
$0.44
$0.43
7.6%
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Q4 2025
Q4 2024 Q4 2025 Q4 2024 Q4 2025
FINANCIAL HIGHLIGHTS
OPERATING
MARGIN
as a % of net sales
8.4%
Q42025
Q4 2024
FINANCIAL HIGHLIGHTS
NET SALES
$15.52B
$14.88B
COMP SALES
1.2%
0.2%
2024 2025 2024 2025
FY2025
Comparable Transaction Increase of 1.4%
Comparable Ticket Decrease of 0.2%
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Opened 99 New Tractor Supply Stores and Five Petsense Stores Successfully Integrated Allivet
FINANCIAL HIGHLIGHTS
GROSS MARGIN
as a % of net sales
36.3% 36.4%
SG&A EXPENSES
as a % of net sales
27.0%
26.4%
FY2025
2024 2025
Key Drivers
Ongoing Cost Management Initiatives
Execution of Everyday Low Price Strategy Offset by Higher Tariffs and Delivery-Related
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Transportation Costs
2024 2025
Key Drivers
Planned Strategic Initiatives
Disciplined Focus on Cost Control and Ongoing Productivity Initiatives
Profitability
NET INCOME
DILUTED EPS
9.5%
$1.10B $1.10B
2025
2024 2025
$2.06
$2.04
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2024 2025
FINANCIAL HIGHLIGHTS
OPERATING
MARGIN
as a % of net sales
9.9%
FY2025
2024
Key Assumptions for 2026
Anchoring to the midpoint of guidance
Sales growth driven by new store openings and improving
comp sales
Modest gross margin expansion
Measured SG&A deleverage
Depreciation and amortization growth to moderate
Operating margin inflection point in the low two percent comp sales range
Net capital spending focused on growth initiatives
Opening of 100 new TSCO stores
2026 Guidance
Net Sales +4% to +6%
Comparable Store Sales +1% to +3%
Operating Margin Rate 9.3% to 9.6%
Net Income $1.11 billion to $1.17 billion
Diluted Earnings per Share $2.13 to $2.23
Net Capital Expenditures $675 million to $725 million
Share Repurchases $375 million to $450 million
Deliver Legendary Customer Experiences
Advance Our ONETractor Capabilities
Operate the Tractor Way Go the Country Mile
for Our Team
Generate Healthy
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Shareholder Return
We are committed to being an integral part of our customers' lives as the dependable supplier of
Out Here Lifestyle solutions.
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Anytime. Anywhere. Any way.
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