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Q3 2026 Investor Presentation
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Forward-Looking Information Certain statements made in this document may constitute forward-looking information under applicable securities laws. Statements containing forward-looking information are neither historical facts nor assurances of future performance, but instead, provide insights regarding management’s current expectations and plans and allows investors and others to better understand the Company’s anticipated business strategy, financial position, results of operations and operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Although the Company believes that the forward-looking statements are based on information, assumptions and beliefs that are current, reasonable, and complete, such information is necessarily subject to a number of business, economic, competitive and other risk factors that could cause actual results to differ materially from management’s expectations and plans as set forth in such forward-looking information. Specific forward-looking information in this document include, but are not limited to, statements relating to: • our Fiscal 2027 strategic and financial plan, and anticipated results therefrom, • our fourth quarter Fiscal 2026 financial outlook, including our expected outlook for net revenue and related impacts, gross profit margin, and SG&A as a percentage of net revenue, • our full Fiscal 2026 financial outlook, including our expected outlook for net revenue, expectations regarding new and repositioned boutiques and timing of openings, Adjusted EBITDA as a percentage of net revenue (including expected pressure from additional tariffs and the elimination of the de minimis exemption), capital cash expenditures (net of proceeds from lease incentives), depreciation and amortization, and foreign exchange rates • our advancement of our eCommerce 2.0 strategy, including tailored product discovery, creative innovation and intuitive experience, • our anticipated growth and ability to drive operating leverage and profitability over the long-term, • our strategic investments to support the long-term growth of our business across our three strategic pillars, including geographic expansion, digital growth and increased brand awareness, • our geographic expansion including our planned openings in Fiscal 2026, expected new boutique payback period and store economics, • our expectations with respect to our investments in digital marketing and other tactics to increase brand awareness and the anticipated results therefrom, • our investments in an enhanced digital experience, omni-capabilities and engaging service to drive eCommerce, • our Impact strategies and related statements relating to our Fiscal 2027 training and pipeline targets, our Fiscal 2028 Community support goal, our commitment to increasing the use of preferred materials in our products, our development of sustainability targets and our review of our preferred materials targets in Fiscal 2026, and • the number of subordinate voting shares which may be purchased under the 2025 NCIB. Particularly, information regarding our expectations of future results, targets, performance achievements, intentions, prospects, opportunities or other characterizations of future events or developments or the markets in which we operate is forward-looking information. Often but not always, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects”, “is expected”, “an opportunity exists”, “budget”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projection”, “prospects”, “strategy”, “intends”, “anticipates”, “believes”, or positive or negative variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be taken”, “occur”, "continue", or “be achieved”. Forward-looking statements are based on information currently available to management and on estimates and assumptions, including assumptions about future economic conditions and courses of action. Examples of material estimates and assumptions and beliefs made by management in preparing such forward-looking statements include, but are not limited to: • anticipated growth across our retail and eCommerce channels, • anticipated growth in the United States and Canada, • general economic and geopolitical conditions, including the imposition of any new, or any material changes to applicable duties, tariffs and trade restrictions or similar measures (and any retaliatory measures), • changes in laws, rules, regulations, and global standards, • our competitive position in our industry, • our ability to keep pace with changing consumer preferences, • no public-health related restrictions impacting client shopping patterns or incremental direct costs related to health and safety measures, • our future financial outlook, • our ability to drive ongoing development and innovation of our exclusive brands and product categories, • our ability to realize our eCommerce 2.0 strategy and optimize our omni-channel capabilities, 2 – Aritzia Q3 2026 Investor Presentation
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Forward-Looking Information (continued) • our expectations for optimized inventory composition, • Our expectations regarding any new distribution centres, • our ability to recruit and retain exceptional talent, • our expectations regarding new boutique openings, repositioning of existing boutiques, and the timing thereof, and growth of our boutique network and annual square footage, • our ability to mitigate business disruptions, including our sourcing and production activities, • our expectations for capital expenditures, • our ability to generate positive cash flow, • anticipated run rate savings from our smart spending initiative, • availability of sufficient liquidity, • warehousing costs and expedited freight costs, and • currency exchange and interest rates. In addition to the assumptions noted above, specific assumptions in support of our Fiscal 2026 outlook include: • macroeconomic uncertainty, • improved product assortment mix, • anticipated benefits from product margin improvements, including IMU improvements and lower markdowns, • estimated impacts of new and proposed tariffs and assumptions regarding the duration, scope and estimated impact of the de minimis exemption removal, • our approach and expectations with respect to our real estate expansion strategy, including boutique payback period expectations and timing of openings, that our planned boutique openings and repositions will proceed as anticipated and on-time, • anticipated total square footage growth of our boutiques, • infrastructure investments including our new distribution centre in Delta, British Columbia, new and repositioned flagship boutiques, expanded support office space, and eCommerce technology to drive eCommerce 2.0, • subsiding transitory cost pressures, including pre-opening lease amortization for flagship boutiques and warehouse costs related to inventory management, and • foreign exchange assumption for the fourth quarter of Fiscal 2026: USD:CAD = 1.40. Given the current challenging operating environment, there can be no assurances regarding: (a) the macroeconomic impacts on Aritzia's business, operations, labour force, supply chain performance and growth strategies; (b) Aritzia's ability to mitigate such impacts, including ongoing measures to enhance short-term liquidity, contain costs and safeguard the business; (c) general economic conditions and impacts to consumer discretionary spending and shopping habits (including impacts from changes to interest rate environments); (d) credit, market, currency, commodity market, inflation, interest rates, global supply chains, operational, and liquidity risks generally; (e) geopolitical events including the imposition of any new, or any material changes to applicable duties, tariffs and trade restrictions or similar measures (and any retaliatory measures); (f) public health related limitations or restrictions that may be placed on servicing our clients or the duration of any such limitations or restrictions; and (g) other risks inherent to Aritzia's business and/or factors beyond its control which could have a material adverse effect on the Company. Many factors could cause our actual results, performance, achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the "Risk Factors" section of our Q3 2026 MD&A dated January 8, 2026, Fiscal 2025 MD&A dated May 1, 2025, and annual information form for Fiscal 2025 (“Fiscal 2025 AIF”) which are incorporated by reference into this document. A copy of the Q3 2026 MD&A, Fiscal 2025 MD&A and the Fiscal 2025 AIF and the Company's other publicly filed documents can be accessed under the Company's profile on the System for Electronic Data Analysis and Retrieval+ ("SEDAR+") at www.sedarplus.com. The Company cautions that the foregoing list of risk factors and uncertainties is not exhaustive and other factors could also adversely affect its results. We operate in a highly competitive and rapidly changing environment in which new risks often emerge. It is not possible for management to predict all risks, nor assess the impact of all risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. The forward-looking information contained in this document represents our expectations as of the date of this document (or as of the date they are otherwise stated to be made) and are subject to change after such date. We disclaim any intention, obligation or undertaking to update or revise any forward-looking information, whether written or oral, as a result of new information, future events or otherwise, except as required under applicable securities laws. 3 – Q3 2026 Aritzia Investor Presentation
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Non-IFRS Financial Measures and Retail Industry Metrics This presentation makes reference to certain non-IFRS Accounting Standards measures (“non-IFRS financial measures”) and certain retail industry metrics. These measures are not recognized measures under IFRS Accounting Standards, do not have a standardized meaning prescribed by IFRS Accounting Standards and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS Accounting Standards measures by providing further understanding of our results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our financial information reported under IFRS. We use non-IFRS financial measures including “EBITDA,” “Adjusted EBITDA,” and “Adjusted Net Income”; non-IFRS Accounting Standards ratios (“non-IFRS ratios”) including “Adjusted Net Income per Diluted Share,” "Adjusted EBITDA as a percentage of net revenue," and "Adjusted Net Income as a percentage of net revenue"; and capital management measures including “capital cash expenditures (net of proceeds from lease incentives),” and “free cash flow.” This presentation also makes reference to “gross profit margin” and ”comparable sales,” which are commonly used operating metrics in the retail industry but may be calculated differently by other retailers. Gross profit margin and comparable sales are considered supplementary financial measures under applicable securities laws. These non-IFRS financial measures and retail industry metrics are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. We believe that securities analysts, investors and other interested parties frequently use non-IFRS financial measures and retail industry metrics in the evaluation of issuers. Our management also uses non-IFRS financial measures and retail industry metrics in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. For additional information regarding measures, please see the "How We Assess the Performance of Our Business" and "Selected Financial Information" sections of our Q3 2026 MD&A (for the 13-week and 39-week periods ended November 30, 2025), available on SEDAR+ at www.sedarplus.com, which is incorporated herein by reference. A quantitative reconciliation of Adjusted EBITDA and Adjusted Net Income to Net Income for Q3, 2026, Q2 2026, Q1 2026 and Fiscal 2025 to Fiscal 2016, respectively, can be found on page 7 of our Q3 2026 MD&A dated January 8, 2026, page 7 of our Q2 2026 MD&A dated October 9, 2025, page 6 of our Q1 2026 MD&A dated July 10, 2025, page 8 of our Fiscal 2025 MD&A dated May 1, 2025, page 8 of our annual MD&A for Fiscal 2024 dated May 2, 2024, page 8 of our annual MD&A for Fiscal 2023 dated May 2, 2023, page 8 of our annual MD&A for Fiscal 2022 dated May 5, 2022, page 7 of our annual MD&A for Fiscal 2021 dated May 11, 2021, page 15 of our annual MD&A for Fiscal 2020 dated May 28, 2020, page 12 of our annual MD&A for Fiscal 2019 dated May 9, 2019, page 13 of our annual MD&A for Fiscal 2018 dated May 10, 2018 and page 11 of our annual MD&A for Fiscal 2017 dated May 10, 2017, in each case filed on SEDAR+ at www.sedarplus.com, which reconciliations are incorporated herein by reference. Certain Other Matters All dollar amounts included in this presentation refer to Canadian dollars unless otherwise indicated. Note that calculated figures may not add up precisely due to rounding. Unless otherwise expressly stated herein, all information provided in this presentation is presented as of January 8, 2026. Any graphs, tables or other information demonstrating our historical performance, or any other entity contained in this presentation, are intended only to illustrate past performance of such entities and are not necessarily indicative of our future performance or such entities. 4 – Q3 2026 Aritzia Investor Presentation
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Aritzia is a design house with an innovative global platform offering Everyday Luxury online and in its boutiques. We believe in high-quality, beautifully designed product. We believe in aspirational environments and experiences. We believe in personalized and engaging client service. And we believe that all of this should be attainable. We call this Everyday Luxury . 5 5 – Aritzia Q3 2026 Investor Presentation
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Luxury Sub-Luxury Everyday Luxury Mid-Market Fast Fashion Discount We are strategically positioned in the global fashion landscape. 6 – Aritzia Q3 2026 Investor Presentation
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Founded in 1984, Aritzia is a design house with an innovative global platform offering Everyday Luxury online and in its boutiques through: • Beautiful product • Aspirational environments • Engaging service • Captivating communications We are a multi-channel retailer focused on growing our brand awareness in the United States by increasing our geographical footprint and accelerating our eCommerce growth. We have a high-performance culture led by a talented and experienced management team. Our proven record of profitable, organic growth and free cash flow1 generation underpins our strong financial foundation. We are focused on investing in infrastructure to support the long-term growth of our business across our three strategic pillars: • Geographic expansion • Digital growth • Increased brand awareness 7 – Aritzia Q3 2026 Investor Presentation Overview 1 Free Cash Flow is a capital management measure, see “Non-IFRS Financial Measures and Retail Industry Metrics” on page 4 of this presentation for additional information. See “Forward-Looking Information” starting on page 2 of this presentation.
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We conceive, create, develop and retail fashion brands, each with its own vision, distinct aesthetic point of view and a depth of design and quality that provides compelling value. As a group, they are united by an effortless appeal and an of-the-moment point of view. All of our products feature high-quality fabrics, considered detailing, sophisticated construction and superior fit. We expanded into menswear in 2021 with the acquisition of Reigning Champ, a leading designer and manufacturer of premium athletic wear and sportswear. 8 8 – Aritzia Q3 2026 Investor Presentation Beautiful Product
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Each Aritzia destination – physical or digital – is carefully considered. We pride ourselves on creating immersive, human and highly personal shopping experiences. Aspirational Environments 9 – Q3 2026 Aritzia Investor Presentation
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Captivating communications seamlessly span across our eCommerce, retail and social media platforms as our outstanding boutique and concierge teams deliver world-class experiences to delight our clients, resulting in loyal, enduring relationships. Captivating Communications & Engaging Service 10 – Aritzia Q3 2026 Investor Presentation
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We deliver Everyday Luxury to clients in 180+ countries through aritzia.com. 3 Dallas San Jose San Francisco Portland Seattle Victoria Vancouver Whistler Edmonton Calgary Saskatoon Winnipeg Chicago Troy Toronto MontrealOttawa Halifax Boston Suburban New York Manhattan New Jersey 1 2 1 2 7 3 1 1 6 2 4 3 1 6 3 2 1 13 29 5 Los Angeles 2 1 Washington DC 1 Quebec City San Diego 2 Denver 2Minneapolis 3 3 Houston1 Austin1 2Philadelphia San Antonio Honolulu1 1 1 Nashville Tysons1 1 Columbus 1 Las Vegas 5 Miami 1 Orlando 1 Atlanta 139 Boutiques1 68 71 1 Boutique count at the end of Q3 2026, excluding three Reigning Champ boutiques. Capitalizing on the availability of premier real estate, we are growing our boutique network across North America with a focus on the United States. 1 Kelowna 11 – Q3 2026 Aritzia Investor Presentation Multi-Channel Retailer with an Expanding Geographic Footprint Tampa 1 1 Charlotte 1Indianapolis 1 Sacramento 1 Jacksonville Kansas City 1 1 Cabazon 1 Murray 1 Durham 1Pittsburgh 1 Scottsdale
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We take an omni-channel approach to our business, seamlessly mirroring our Everyday Luxury boutique experience online at Aritzia.com and on the Aritzia App. Multi-Channel Retailer with Track Record of Strong eCommerce Growth 12 – Q3 2026 Aritzia Investor Presentation $426 $564 $770 $785 $226 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 eCommerce Net Revenue ($ millions) 34.7%49.7% 37.8% 35.1% 33.7% eCommerce penetration 33% CAGR $951 23.1%
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13 – Q3 2026 Aritzia Investor Presentation Flatiron, NYC Opened November 21, 2025
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$97 $26 $177 $215 $106 $231 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 $173 $77 $289 $351 $217 $406 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Comparable Sales1,2 Growth (Decline) $981 $857 $1,495 $2,196 $2,332 $2,738 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Net Revenue ($ millions) Adjusted EBITDA2 ($ millions) As a percentage of net revenue 2 eCommerce Retail 23% CAGR Adjusted Net Income2 ($ millions) 19% CAGR 19% CAGR Q1 Q2 Q3 Q4 Annual FY2016 25.8% 20.8% 15.4% 9.2% 16.7% FY2017 12.8% 16.4% 15.1% 12.3% 14.1% FY2018 9.3% 5.4% 6.3% 6.0% 6.6% FY2019 10.9% 11.5% 12.9% 5.5% 9.8% FY2020 7.9% 8.4% 5.1% 8.9% 7.6% FY2021 n/a n/a n/a n/a n/a FY2022 n/a n/a n/a n/a n/a FY2023 29.4% 28.3% 22.8% 32.2% 28.2% FY2024 4.1% (4.3)% 0.5% (3.0)% (1.0)% FY2025 2.0% 6.5% 6.6% 26.0% 11.0% FY2026 19.3% 21.6% 34.3% 14 – Q3 2026 Aritzia Investor Presentation Proven Results1 Net Income ($ millions) 18% CAGR 1 Results in FY2021 and FY2022 reflect temporary boutique closures and severe occupancy restrictions due to the COVID- 19 pandemic. As temporary boutique closures in FY2021 and FY2022 resulted in all boutiques being removed from our comparable store base, we believe total comparable sales was not representative of the underlying trends of our business. We do not believe this metric is useful to investors in understanding performance and therefore have not reported this metric for FY2021 or FY2022. 2 Adjusted EBITDA and Adjusted Net Income are non -lFRS financial measures. Adjusted EBITDA as a percentage of net revenue and Adj usted Net Income as a percentage of net revenue are non -IFRS ratios and comparable sales is a retail operating metric. See "Non-lFRS Financial Measures and Retail Industry Metrics" for additional information on page 4 of this pre sentation. As a percentage of net revenue 2 As a percentage of net revenue $91 $19 $157 $188 $79 $208 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 9.2% 2.2% 10.5% 8.5% 3.4% 7.6% 9.0% 19.4%17.6% 16.0% 9.3% 14.8% 9.9% 3.0% 11.8% 9.8% 4.5% 8.4%
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Digital Growth*Geographic Expansion Increased Brand Awareness We continue to make strategic investments across our people, technology, supply chain and marketing to help capitalize on the exciting growth opportunities ahead. 1 2 3 15 – Q3 2026 Aritzia Investor Presentation Future Growth Our strategic growth drivers have propelled our business in the past, and we expect to build upon them to fuel our growth in the future. * In FY2025 our eCommerce, Omni Channel, Performance Marketing, and Concierge business units evolved into one broader and cohesive Digital business. See “Forward-Looking Information” starting on page 2 of this presentation.
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1 Subject to delays and market conditions resulting in timing of openings shifting and outlook changing. 2 Boutique count at the end of Q3 2026. See “Forward-Looking Information” starting on page 2 of this presentation. As a key component of our growth strategy, our boutiques: • Drive sales and meaningful profits • Build brand awareness • Propel significant client acquisition • Fuel our Digital business We take a measured approach to boutique expansion. Our planned openings in Fiscal 20261 are as follows: • 13 new boutiques, all except one located in the US • 4 boutique repositions across Canada and the US With 712 boutiques in the US, we believe we have significant runway to grow: • We have identified the opportunity for 150+ locations in the US that meet our exacting criteria • We plan to open a minimum of 10 new US boutiques annually through FY2027 and reposition 3–5 boutiques annually, growing our total boutique count to approximately 150+ and increasing our total retail square footage by up to 60% by FY2027 1 Expected New Boutique Payback 12–18 Months 16 – Aritzia Q3 2026 Investor Presentation Geographic Expansion
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New Stores In local currency Estimated Revenue Contribution Sales per Sq. Ft. $1,000 Total Sq. Ft. 10,000 Revenue $10 million Estimated Net Investment $4 million Expected Payback Period 12–18 Months 1 Store economics for new stores are based on historical averages of recently opened stores and expected future performance. 17 – Q3 2026 Aritzia Investor Presentation Compelling Store Economics1 See “Forward-Looking Information” starting on page 2 of this presentation.
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Brand-Propelling and Relevant Features Buy Now, Pay LaterFit AnalyticsImproved Shoppability across Product Categories Enhanced Digital Experience Reduce friction and drive conversion. • Digital Selling Tools • Fit Analytics • Site Optimization • Convenient Payment Solutions • Personalization • Enhanced International eCommerce Site • Mobile App Omni-Channel Capabilities Seamlessly integrate our boutiques online. • View Online, Shop in Store • Buy Online, Ship from Store • Buy Online, Pickup in Store Engaging Service Delight our clients. • Exceptional Concierge Services 18 – Q3 2026 Aritzia Investor Presentation Digital Drivers We are further investing in our multi-channel relationships to service and delight our clients — whenever, wherever. See “Forward-Looking Information” starting on page 2 of this presentation.
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We aspire to connect our clients to Everyday Luxury online, offering beautiful product, tailored experiences and endless inspiration to be a leading eCommerce business. Tailored Product Discovery We plan to enable clients to discover all we have to offer while personalizing suggestions for their individual taste, style and preferences. Creative Innovation With an emphasis on form, creative innovation keeps our eCommerce experience at the forefront of cool. This extends to service, operations and technology. Intuitive Experience Seamless, integrated and highly shoppable, our eCommerce platform aims to provide our clients with further ease of use at all touchpoints. 19 – Q3 2026 Aritzia Investor Presentation Intuitive Experience Creative Innovation Tailored Product Discovery eCommerce 2.0 eCommerce 2.0 See “Forward-Looking Information” starting on page 2 of this presentation.
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We are helping drive brand awareness by expanding our boutique network, social media presence, influencer strategy, VIP program and digital marketing strategies. We expect that our strategic investment in digital marketing will help amplify our product franchises, grow brand awareness in the US and drive customer engagement. We plan to tailor our clients’ experiences and focus on their needs and wants across every interaction: • Loyalty • Customer segmentation • Personalization We plan to propel Aritzia and continue to build on our much-loved Everyday Luxury brand — for new and loyal clients. See “Forward-Looking Information” starting on page 2 of this presentation. 20 – Aritzia Q3 2026 Investor Presentation Increased Brand Awareness
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Unaudited, in millions of Canadian dollars, unless otherwise noted Q3 2026 Q3 2025 Δ LY Net Revenue $1,040.3 $728.7 +42.8% Gross Profit Gross Profit Margin1 $478.9 46.0% $333.5 45.8% +43.6% +30 bps SG&A Expenses As a Percentage of Net Revenue $290.4 27.9% $215.6 29.6% +34.7% (170) bps Net Income Net Income per Diluted Share $138.9 $1.16 $74.1 $0.63 +87.5% +84.1% Adjusted EBITDA 1 As a Percentage of Net Revenue1 $207.6 20.0% $136.4 18.7% +52.2% +120bps Adjusted Net Income1 Adjusted Net Income per Diluted Share1 $131.2 $1.10 $83.0 $0.71 +58.1% +54.9% Free Cash Flow1 $286.3 $104.0 +175.3% Inventory (as at end of period) $508.2 $462.0 +10.0% 1 Adjusted EBITDA and Adjusted Net Income are non-IFRS financial measures, Adjusted EBITDA as a percentage of net revenue and Adjusted Net Income per Diluted Share are non-IFRS ratios, Free Cash Flow is a capital management measure, and Gross Profit Margin is a retail operating metric. See “Non-IFRS Financial Measures and Retail Industry Metrics” on page 4 of this presentation for additional information. 21 – Aritzia Q3 2026 Investor Presentation Financial Highlights
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$620.5M Cash and cash equivalents. $314.0M Available under the revolving credit facility ($300M) and revolving line of credits (US$10M). No amounts were drawn as at November 30, 2025. Strong momentum and performance have enabled us to capitalize on meaningful opportunities to drive our growth and optimize our balance sheet. Repay Debt Return to Shareholders (Share Buybacks) Organic Growth Maintain Near- Term Liquidity As of Q3 Fiscal 2026 ended November 30, 2025 Up to 4.2M Shares available for repurchase NCIB in place to enable us to repurchase and cancel shares from May 7, 2025 to May 6, 2026. Between May 7, 2025 and November 30, 2025, 473,700 subordinate voting shares were repurchased for cancellation for total cash consideration of $41.3 million (including commissions). 22 – Aritzia Q3 2026 Investor Presentation Financial Strength See “Forward-Looking Information” starting on page 2 of this presentation.
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1 Gross profit margin is a retail operating metric. Capital cash expenditures (net of proceeds from lease incentives) is a capital management measure. Adjusted EBITDA as a percentage of net revenue is a non-IFRS ratio. See "Non-IFRS Financial Measures and Retail Industry Metrics" on page 4 of this presentation for additional information. 2 Adjusted EBITDA as a percentage of net revenues was 14.8% for Fiscal 2025. Net income as a percentage of net revenue for Fiscal 2025 was 7.6%. See “Forward-Looking Information” starting on page 2 of this presentation. Q4 2026 vs Q4 2025 Net revenue $1.100 billion to $1.125 billion + approximately 23% to 26% Gross profit margin1 Approximately flat to up 50 bps SG&A as a percentage of net revenue Approximately flat to down 50 bps Foreign exchange rate assumption USD:CAD 1.40 Fiscal 2026 vs Fiscal 2025 Net revenue Approximately $3.615 billion to $3.640 billion + approximately 33% Adjusted EBITDA as a percentage of net revenue1, 2 To be approximately 16.5% to 17.0% Capital cash expenditures net of proceeds from lease incentives1 Approximately $200 million Boutique openings 13 new boutiques 4 boutique repositions Depreciation and amortization Approximately $110 million 23 – Aritzia Q3 2026 Investor Presentation Fiscal 2026 Outlook As of January 8, 2026
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As we grow, we expect to scale our investments and leverage our fixed costs. Revenue Growth Driven by our eCommerce and U.S. business and strong boutique performance. Profitability Enhancement Sourcing and operational efficiencies while reinvesting in our product and aspirational pricing. Expense Management Continued investment in people, processes and technology with prudent expense management. Cash Flow Generation Strong profitability and capital management drives free cash flow. 24 – Aritzia Q3 2026 Investor Presentation We expect strong revenue growth to drive operating leverage and profitability over the long-term. Long-term Profitability See “Forward-Looking Information” starting on page 2 of this presentation.
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Geography Channel Client United States — projected to more than double. Canada — continued modest growth. Total clients projected to double. eCommerce — projected to more than double. Retail — projected to grow at 50%+. $3.5B–$3.8B in Net Revenue in FY2027 15%–17% Net Revenue CAGR FY2022- FY2027 25 – Aritzia Q3 2026 Investor Presentation U.S. and eCommerce net revenue projected to more than double. Long-Term Growth Plan: FY2022-FY2027 See “Forward-Looking Information” starting on page 2 of this presentation.
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1 Adjusted EBITDA as a percentage of net revenue is a non-IFRS ratio, see “Non-IFRS Financial Measures and Retail Industry Metrics” on page 4 of this presentation. 2 Adjusted EBITDA as a percentage of net revenue was 14.8% for Fiscal 2025. Net income as a percentage of net revenue for Fiscal 2025 was 7.6%. We expect adjusted EBITDA as a percentage of net revenue1,2 to be approximately in the high teens in FY2027. Our Drivers • Geographic Mix Shift • Channel Mix Shift • Strong Brand with Pricing Power • Scaling Opportunities Our Investments • People • Technology • Supply Chain • Marketing 26 – Aritzia Q3 2026 Investor Presentation See “Forward-Looking Information” starting on page 2 of this presentation.
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Investing in Growth Funding Operations We anticipate a cash balance of $1 billion+2 by FY2027 Returning Cash to Shareholders (NCIB) Distribution Centres Retail Square Footage Growth Other Approximately $750 million cumulative capital cash expenditures (net of proceeds from lease incentives)1 FY2024 to FY2027 27 – Aritzia Q3 2026 Investor Presentation 1Capital cash expenditures (net of proceeds from lease incentives) is a capital management measure. See "Non-IFRS Financial Measures and Retail Industry Metrics" on page 4 of this presentation for additional information. 2 Excludes impact of cash used for share repurchases from FY2023 to FY2027 See “Forward-Looking Information” starting on page 2 of this presentation. Capital Allocation Priorities
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We are committed to driving responsible practices across our operations and wider value chain to amplify the positive impacts on our People and Planet. 28 – Aritzia Q3 2026 Investor Presentation Impact & Sustainability Governance • Aritzia’s Chief Impact Officer, CEO and CFO together have full oversight and accountability for Aritzia’s Impact strategy, activities, and performance, with guidance from the Environmental and Social (E&S) Committee of the Board. Our Chief Impact Officer has oversight of Aritzia’s Impact initiatives across the Company’s organization and culture. • Aritzia’s executive-level Community Taskforce (renamed the Impact Taskforce in early FY2026) comprised of cross- functional executives and leaders, acts as a central, coordinated body to manage all business activities relating to People and Planet. Strategy • Impact refers to the contributions we make to People and the Planet, our priorities for which span across our operations and wider value chain. • We prioritize our efforts based on our material impacts, opportunities and risks as identified by Aritzia’s materiality1 assessment as well as The Sustainability Accounting Standards Board’s (SASB) reporting framework for the Apparel, Accessories and Footwear industry, the United Nations Sustainable Development Goals (UNSDGs), and the Taskforce for Climate-Related Financial Disclosures (TCFD). Risk Management • Impact-related risks are incorporated within our wider enterprise risk management framework (more details in our FY2025 Annual Information Form). • We completed a Climate Scenario Risk Analysis in partnership with a leading consultancy — included in the FY2025 Aritzia Impact Report. Metrics and Performance Indicators • We have systems to measure sustainability performance across our value chain. Results of our key performance indicators are published in the FY2025 Aritzia Impact Report. • We obtained limited assurance on our Scope 1 & 2 greenhouse gas (GHG) emissions in our FY2025 Aritzia Impact Report. For a detailed discussion on Aritzia’s People and Planet Impacts, refer to the FY2025 Aritzia Impact Report, available on Aritzia’s Environmental and Social Investor Relations page at www.investors.aritzia.com. 1 On this slide we provide voluntary disclosures on sustainability topics, including climate-related matters, that may not meet the definition of materiality under applicable securities laws and stock exchange requirements.
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We’re committed to the success of the People who make us who we are through our commitment to opportunity, wellbeing and belonging. 29 – Aritzia Q3 2026 Investor Presentation People FY2025 Accomplishments1 Our People • Delivered over 95,000 formal training hours to our People across all workplaces. This is an average of 12 hours for each employee (up from 10 hours in FY2024) nearing our FY2027 target of 14 hours. • 90% of our People participated in our Aritzia Asks Culture Survey, exceeding our target of 85%. The engagement score increased to 67% (compared to 60% in FY2024) and the belonging score increased to 80% (compared to 75% in FY2024). • 62% of our eligible, manager-level or below, corporate positions were filled by our Aritzia People Pipeline Program, surpassing our target of 50% by Fiscal 2027, reinforcing our commitment to developing and promoting from within. Supply Chain • Continued the expansion of our Supplier Workplace Standards Program into select Tier 2 fabric and trims suppliers. • Piloted a Worker Voice Program to amplify the voices of individuals working in our supply chain starting with six Tier 1 finished-goods suppliers. Communities • We continued to provide product donations, volunteer hours and financial support to Aritzia Community partners and nonprofit organizations that share our values — since FY2024, we have contributed $24.8M toward our cumulative goal of $50M by FY2028 2. 1 Further details of our FY2025 accomplishments can be found in the FY2025 Aritzia Impact Report. 2 Cumulative total commitment of $50M from FY2024 to FY2028. See “Forward-Looking Information” starting on page 2 of this presentation.
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30 – Aritzia Q3 2026 Investor Presentation We’re committed to the protection and restoration of our Planet through our promise to reduce our impact on climate, water and biodiversity. Planet FY2025 Accomplishments1 Climate and environment • We received validation of our science-based emissions reduction targets by the Science Based Target initiative in Q1 FY2026 and published our targets in our FY2025 Aritzia Impact Report. • Since 2019, annually, Aritzia has purchased Renewable Energy Credits, allowing us to meet our target to source 100% renewable electricity for Scope 2 (market-based) emissions, and certify that 100% of the equivalent electricity used in our Boutiques, Support Offices, and Distribution Centres was generated from a renewable source delivered to the power grid. • Completed our fifth (2024) CDP Climate Change submission and achieved a B score compared to an industry score of B-. • In FY2025, we established and approved a water strategy. Product & Materials • We are committed to increasing the use of preferred materials2 in our products and have established sustainability targets to guide supplier engagement and transition to these alternatives across our products and brands. • We have published our results against our existing adoption of preferred materials targets in our FY2025 Aritzia Impact Report. We are reviewing our preferred materials targets in FY2026. See “Forward-Looking Information” starting on page 2 of this presentation. 1 Further details of our FY2025 accomplishments can be found in the FY2025 Aritzia Impact Report. See “Forward-Looking Information” starting on page 2 of this presentation. 2 Terminology aligned to the Textile Exchange, a global nonprofit setting industry standards for sustainable fibers and materials to improve clarity and comparability.
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Thank You