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Q1 PRESENTATION July – September 2025/26 RVRC Holding AB (publ)
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PRESENTERS RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025
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INTERNATIONAL OUTDOOR BRAND •Pants •Jackets •Accessories •Midlayers •Baselayers •Bags •Footwear •Teens •Dogs SOLID FINANCIALS Net sales Q1 2025/26 SEK 392 million R12 SEK 2 billion ADJUSTED EBIT Q1 2025/26 SEK 75 million R12 SEK 401 million STRONG CUSTOMER COMMUNITY +2 million SoMe followers +740,000 product reviews 4.6 / 5.0 FACTS •Launched: 2014 •Listed: Nasdaq Stockholm since 2021 •HQ: Borås, Sweden •Selling into 40 countries WEBSHOP FACTORY CUSTOMER DIGITAL D2C FACILITATES AFFORDABLE QUALITY OFFERING Mission Making the outdoors accessible to all. #natureisourplayground Vision To be the world’s most recommended outdoor brand. RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025 THIS IS REVOLUTIONRACE
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THE WORLD IS OUR PLAYGROUND 18 Unique webshops ~130 FTEs Available to customers in ~40 countries Local webshop 4 Global sites 3PL Warehouse HQ Three Local 3PL warehouses +25 Product suppliers Production countries RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025 Two Physical stores
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NET SALES DEVELOPMENT 5 • Net sales amounted to SEK 392m in Q1 compared to SEK 350m LY • Growth in net sales Q1 in local currencies amounted to +15% compared to LY (+12% in SEK) RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025
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GROWTH ACROSS ALL REGIONS 6 Regional Net sales development (SEKm) • 73% of Net sales generated outside the Nordics • Nordics growth of 19% in local currencies YoY (17% in SEK) in Q1 • DACH growth of 18% in local currencies YoY (15% in SEK) in Q1 • RoW growth of 2% in local currencies YoY ( -2% in SEK) in Q1 Share of Net sales by region in the quarter RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025
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Q1 HIGHLIGHTS Continued growth • Net sales increased by 15 percent in local currencies (12 percent in SEK) and amounted to SEK 392 million • Continued sales growth in local currencies in all regions • Nordics +19% in local currencies (17% in SEK) • DACH +18% in local currencies (15% in SEK) • RoW +2% in local currencies (-2% in SEK) Industry-leading margins • Gross margin of 69.6 percent • EBIT SEK 75 million (19.0 percent EBIT margin) Operational • Brand store opening • Strengthening of management team Strong financial position • Inventory amounting to SEK 586 million • Solid net cash position of SEK 163 million • Credit facility (SEK 600 million) undrawn • Share repurchase programme; 665,836 shares repurchased for a total acquisition amount of SEK 32 million 7 RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025
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8 RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025 PRODUCTS AND LAUNCHES
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FINANCIAL PERFORMANCE 9 RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025
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GROSS PROFIT AND MARGIN 10 • Gross profit in Q1 amounted to SEK 273m, an increase by 11 percent compared to SEK 245m LY • Gross margin in Q1 was 69.6 (70.0) percent RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025
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OTHER EXTERNAL EXPENSES 11 • The average number of FTEs for the quarter was 132 (132) and personnel expenses as share of net sales were in line with LY • Other external expenses as share of net sales were slightly lower than LY, mainly due to improved marketing efficiency PERSONNELEXPENSES RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025
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EBIT 12 • The EBIT margin and adjusted EBIT margin were 19.0 percent in Q1, compared to 16.3 percent LY RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025
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BALANCE SHEET & NET WORKING CAPITAL 13 • Balance sheet remains stable with changes in line with seasonality • Changes in Net Working Capital (Q1 vs Q1 LY) is mainly attributable to higher inventory levels and increase in current liabilities • Repurchase of shares amounting to SEK 32m during the first quarter, compared to SEK 69m LY RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025 SEKm 30/09/2025 30/06/2025 30/09/2024 Intangible assets 800 800 802 Tangible assets 22 15 13 Deferred tax and Other long-term assets 5 1 2 Current assets 824 744 780 Total Assets 1,650 1,561 1,596 Equity 1,247 1,220 1,229 Long-term liabilities 50 42 43 Current liabilities 353 299 324 Total Equity and Liabilities 1,650 1,561 1,596
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INVENTORY DEVELOPMENT 14 • Inventory has increased by SEK 9m compared to Q1 LY • Inventory has increased by SEK 65m compared to Q4 24/25, driven by a seasonal increase in Goods in warehouse • Inventory is well balanced and expected to gradually decrease during the current financial year RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025
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CASH FLOW & FINANCIAL POSITION 15 • Solid cash position of SEK 181m and net cash position of SEK 163 as of September 30 – cash adjusted for lease liabilities of SEK 19m • Cash flow from operating activities of SEK 27m, primarily attributable to operating profit (EBIT), a minor increase in invent ory and a larger increase in operating liabilities compared to the corresponding quarter of the previous year • Credit facility of ~SEK 600m available and undrawn as of September 30 RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025
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DIVIDEND AND REPURCHASE OF SHARES Dividend policy RevolutionRace intends to distribute surplus capital to shareholders after considering long-term financial stability, growth opportunities and strategic initiatives. With these considerations in mind, RevolutionRace intends to distribute 40-60 percent of profits for the year. The Board proposes a dividend of 1.35 SEK per share for FY 24/25, an increase of 13 percent compared to FY 23/24. Repurchased shares RevolutionRace has, since the AGM repurchased shares for a total amount of SEK 168 million and currently holds 3.8 million shares (of total 109.6 million shares). Change in the number of shares RevolutionRace cancelled 3,322,279 own shares in November 2024, with share capital maintained at the same level as before, SEK 1,129,189.18. The number of registered shares decreased from 112.9 million to 109.6 million. RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025
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17 The RevolutionRace continues “We are now entering our most important trading season of the year. The second quarter has just started, and the real peak season lies ahead. Overall, we have a stronger market position than ever, and we are seeing continued sales growth at the beginning of the second quarter.” RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025
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NATURE IS OUR PLAYGROUND! 18 RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025
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IMPORTANT INFORMATION This presentation may contain forward-looking statements. All statements other than statements of historical fact included in the presentation are forward-looking statements. Forward-looking statements give the company’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business and are based on numerous assumptions regarding the company’s present and future business strategies and the environment in which it will operate in the future. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements inherently involve known and unknown risks, uncertainties and other important factors beyond the company’s control that could cause the company’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. 19 RVRC HOLDING AB (PUBL) Q1 PRESENTATION 2025/26 OCTOBER 23, 2025