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SECOND QUARTER 2026
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FORWARD-LOOKING STATEMENTS This presentation contains statements that constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Many of the forward-looking statements contained herein can be identified by the use of forward-looking words such as “anticipate,” “believe,” “may,” “will,” “expect,” “could,” “target,” “predict,” “should,” “plan,” “intend,” “estimate” and “potential,” and similar expressions. Forward-looking statements appear in a number of places herein and include, but are not limited to, statements regarding our intent, belief or current expectations. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to, those identified under the section titled “Item 3. Key Information—D. Risk Factors” in our Annual Report on Form 20-F. These risks and uncertainties include factors relating to, but are not limited to: the strength of our brands; changes in market trends and consumer preferences; intense competition that our products, services and experiences face; harm to our reputation that could adversely impact our ability to attract and retain consumers and wholesale partners, employees, brand ambassadors, partners, and other stakeholders; reliance on technical innovation and high-quality products; general economic and business conditions worldwide, including due to inflationary pressures; the strength of our relationships with and the financial condition of our third-party suppliers, manufacturers, wholesale partners and consumers; ability to expand our direct-to-consumer (“DTC”) channel, including the expansion and success of our retail stores and e-commerce platforms; our plans to innovate, expand our product offerings and successfully implement our growth strategies that may not be successful, and implementation of these plans that may divert our operational, managerial and administrative resources; our international operations, including any related to political uncertainty and geopolitical tensions; changes in trade policies, including tariffs and other trade restrictions; our and our wholesale partners’ ability to accurately forecast demand for our products and our ability to manage manufacturing decisions; our third-party suppliers, manufacturers and other partners, including their financial stability and our ability to find suitable partners to implement our growth strategy; the cost of raw materials and our reliance on third-party manufacturers; our distribution system and ability to deliver our brands’ products to our wholesale partners and consumers; climate change and sustainability- related matters, or legal, regulatory or market responses thereto; current and further changes to trade policies, tariffs, import/export regulations and anti-competition regulations in the United States, European Union, People's Republic of China (“PRC”) and other jurisdictions, or our failure to comply with such regulations; the use and reliance on artificial intelligence can potentially cause intellectual property rights issues, security vulnerabilities, harm our business reputation, negatively impact our operations and impact our financial results; ability to obtain approvals from PRC authorities to remain listed on the U.S. exchanges and offer securities in the future; ability to obtain, maintain, protect and enforce our intellectual property rights in our brands, designs, technologies and proprietary information and processes; ability to defend against claims of intellectual property infringement, misappropriation, dilution or other violations made by third parties against us; security breaches or other disruptions to our information technology (“IT”) systems; our reliance on a large number of complex IT systems; changes in government regulation and tax matters; our ability to remediate our material weakness in our internal control over financial reporting; our relationship with ANTA Sports Products Limited (“ANTA Sports”); our expectations regarding the time during which we will be a foreign private issuer; and other risk factors discussed under “Item 3. Key Information—D. Risk Factors” in our Annual Report on Form 20-F. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of an unanticipated event.
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NON-IFRS DISCLAIMER Adjusted gross profit margin, adjusted gross profit, adjusted SG&A expenses, adjusted net finance costs, adjusted income tax expense, adjusted operating profit margin, adjusted EBITDA, adjusted net income attributable to equity holders of the Company, and adjusted diluted earnings per share are financial measures that are not defined under IFRS Accounting Standards. Adjusted gross profit margin is calculated as adjusted gross profit divided by revenue. Adjusted gross profit is calculated as gross profit excluding non-recurring items such as depreciation and amortization related to purchase price allocation (“PPA”) fair value step up resulting from the acquisition and delisting of Amer Sports in 2019 (the “Acquisition”), restructuring expenses, and expenses related to certain legal proceedings. Adjusted SG&A excludes non-recurring items such as depreciation and amortization on PPA fair value step up, restructuring expenses, expenses related to transaction activities, expenses related to certain legal proceedings, and certain share-based payments. Adjusted net finance costs is calculated as net finance costs excluding non-recurring items such as loss on debt extinguishment and derivative contract loss. Adjusted income tax expense is calculated as income tax expense excluding the income tax expense resulting from each adjustment excluded from Adjusted net income. Adjusted operating profit margin is calculated as adjusted operating profit divided by revenue. Adjusted operating profit is calculated as income before tax with adjustments to exclude non-recurring items such as depreciation and amortization on PPA fair value step up, restructuring expenses, impairment losses on goodwill and intangible assets, expenses related to transaction activities, expenses related to certain legal proceedings, expenses related to certain share-based payments, interest expense, foreign currency exchange (losses)/gains, net & other finance costs, loss on debt extinguishment, and interest income. Adjusted EBITDA is calculated as net income attributable to equity holders of the Company, plus net income attributable to non-controlling interests, income tax expense/(benefit), foreign currency exchange (losses)/gains, net & other finance costs, interest expense, loss on debt extinguishment, and depreciation and amortization, less interest income with adjustments to exclude restructuring expenses, impairment losses on goodwill and intangible assets, expenses related to transaction activities, expenses related to certain legal proceedings and certain share-based payments. Adjusted net income attributable to equity holders of the Company is calculated as net income attributable to equity holders of the Company with adjustments to exclude depreciation and amortization on PPA fair value step up resulting from the Acquisition, restructuring expenses, impairment losses on goodwill and intangible assets, expenses related to transaction activities, expenses related to certain legal proceedings, certain share-based payments, derivative contract loss, loss on debt extinguishment, and the related income tax expense on these adjustments and deferred tax expense or benefit arising from tax rate changes on PPA balances. “Omni-comp” reflects revenue growth on a constant currency basis from owned retail stores that have been open for at least 13 full fiscal months and from owned e-commerce websites. Remodeled stores are excluded from the comparable sales growth calculation for 13 months if a store: (i) changes its square footage by more than 20% or (ii) is closed for more than 60 days for the refit. Stores closed 60 days or less are excluded from the comparable sales growth calculation only for the months they are closed. The Company believes that these non-IFRS measures, when taken together with its financial results presented in accordance with IFRS Accounting Standards, provide meaningful supplemental information regarding its operating performance and facilitate internal comparisons of its historical operating performance on a more consistent basis by excluding certain items that may not be indicative of our business, results of operations or outlook. In particular, adjusted EBITDA and adjusted net income are helpful to investors as they are measures used by management in assessing the health of the business and evaluating operating performance, as well as for internal planning and forecasting purposes. Non-IFRS financial measures, however are subject to inherent limitations, may not be comparable to similarly titled measures used by other companies and should not be considered in isolation or as an alternative to IFRS measures. The supplemental tables below provide reconciliations of each non-IFRS financial measure presented to its most directly comparable IFRS Accounting Standards financial measure. Other than with respect to revenue, Amer Sports only provides guidance on a non-IFRS basis. The Company does not provide a reconciliation of forward-looking non-IFRS measures to the most directly comparable IFRS Accounting Standards measures due to the difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations without unreasonable efforts. The Company is unable to address the probable significance of the unavailable reconciling items, which could have a potentially significant impact on its future IFRS financial results. The above outlook reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change. Actual results may differ materially from these forward-looking statements, including as a result of, among other things, the factors described under “Forward-Looking Statements” above and in our filings with the SEC.
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SECOND QUARTER 2026 RESULTS • Strong 2Q26 results with revenues, adjusted margins and EPS above guidance, excluding the benefit from net tariff refunds • Revenue increased 32% to $1,633 million, or +30% ex-currency, and strong momentum continues into 3Q26 • Group operating margin, excluding the benefit from net tariff refunds, expanded over 300 basis points • All regions and segments achieved strong double-digit revenue growth • Technical Apparel grew 32% led by Arc'teryx, and driven by broad-based strength across regions, categories and channels, including a +17% omni-comp • Outdoor Performance grew 37% driven by excellent momentum in Salomon Softgoods • Ball & Racquet grew 24% led by Wilson Tennis 360
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TECHNICAL APPAREL Q2 HIGHLIGHTS Norvan LD4 continues to lead footwear growth Note: see Appendix for omni-comp definition New Arc’teryx store opening in Copenhagen Peak Performance solid performance continues Women’s exceptional momentum continued in Q2 Newness and color resonating well with female consumer Arc’teryx Academy in Chamonix 27% 16% 19% 17% 3Q25 4Q25 1Q26 2Q26 Omni-comp Veilance SS26 women’s collection best received so far
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OUTDOOR PERFORMANCE Q2 HIGHLIGHTS JISOO joins Salomon as global brand ambassador Global Sportstyle momentum continues Salomon trail athletes winning races in Q2 Salomon new NYC UWS store Salomon NYC Flagship opened on 5 th Av e in Flatiron Salomon x FL launch Salomon at Yar d land festival in Paris Shift from Equipment to Sneakers Winter sports equipment Footwear & apparel 54% 75% 46% 25% 2022 2026E 2Q26 Outdoor Performance +37% driven by strong growth in Salomon Softgoods
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BALL & RACQUET Q2 HIGHLIGHTS 16% 14% 13% 24% 3Q25 4Q25 1Q26 2Q26 Revenue growth Marta Kostyuk in the Marta dress in Wimbledon Tennis 360 athlete Victoria Mboko with Blade v10 racquet Moise Kouame with Defyer racquet Softgoods continue strong growth New Defyer power - spin racquet
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FINANCIAL REVIEW
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LAST FOUR QUARTERS REVENUE GROWTH BY SEGMENT Technical Apparel 31% 34% 33% 32% 3Q25 4Q25 1Q26 2Q26 Outdoor Performance Ball & Racquet 36% 29% 42% 37% 3Q25 4Q25 1Q26 2Q26 16% 14% 13% 24% 3Q25 4Q25 1Q26 2Q26 30% 28% 32% 32% 3Q25 4Q25 1Q26 2Q26 Group(1) (1) The 2Q26 Group revenue growth rate includes a ~200 bps benefit from Fx.
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LAST FOUR QUARTERS REVENUE GROWTH BY CHANNEL DTC 51% 38% 45% 40% 3Q25 4Q25 1Q26 2Q26 Wholesale 18% 18% 21% 24% 3Q25 4Q25 1Q26 2Q26
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LAST FOUR QUARTERS REVENUE GROWTH BY REGION Americas 18% 18% 18% 26% 3Q25 4Q25 1Q26 2Q26 Greater ChinaAPAC 47% 42% 45% 36% 3Q25 4Q25 1Q26 2Q26 54% 53% 53% 60% 3Q25 4Q25 1Q26 2Q26 23% 21% 27% 20% 3Q25 4Q25 1Q26 2Q26 EMEA
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ADJUSTED GROSS PROFIT MARGIN1 BRIDGE (1) Adj. gross margin is a non-IFRS financial measure. See Appendix for reconciliation to nearest comparable IFRS financial measure. 2Q25 Pricing, Product Mix, Discounts, FX & Other Channel, Region, and Segment Mix Transportation, Logistics and Materials Net tariff refund 2Q26 58.7% 65.8%
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ADJUSTED SG&A1 BRIDGE 2Q25 Technical Apparel Outdoor Performance Ball & Racquet HQ 2Q26 $677M $897M 54.7% of revenue 54.9% of revenue (1) Adj. SG&A is a non-IFRS financial measure. See Appendix for reconciliation to nearest comparable IFRS financial measure.
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OTHER FINANCIAL ITEMS Note: Please refer to Appendix for reconciliation of non-IFRS financial measures presented to nearest comparable IFRS measures. 2Q25 Adj. Operating margin(1) 5.5 % 2Q26 12.8 % Adj. Net finance cost ($M) 22 21 Adj. Effective tax rate 12% 27% Adj. Net income to equity holders ($M) 36 127 Adj. Diluted EPS ($)(2) 0.06 0.22 (1) Incl. 390 bps benefit from net tariff refunds in 2Q26 (2) Net tariff refunds benefited 2Q26 EPS by approximately $0.08 per share
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TECHNICAL APPAREL 2Q26 RESULTS • Q2 revenues increased 32% to $674 million led by Arc'teryx. • Growth was fueled by 34% DTC expansion, including a 17% omni-comp. Wholesale revenues grew 27%. • Regionally, growth rate was led by APAC, followed by accelerating growth in the EMEA and Americas, followed by Greater China • Women’s delivered very strong growth, growing confidence in L-T opportunity. • 8 net new Arc’teryx brand store openings in Q2, balanced across regions. • Arc’teryx entering 15 hand-selected Dick’s House of Sports locations in Fall 2026. • Adj. operating margin expanded 470bps to 18.8%, incl. a 170bps benefit from net tariff refunds, driven by both gross margin expansion, and SG&A leverage on strong sales. 1.1 1.6 2.2 2.9 3.6 2022 2023 2024 2025 2026E(2) Revenue ($B) and Adjusted Operating Margin ~34% CAGR 15.7% (1) 19.7% (1) 21.0% (1) 21.7% ~22.5% Adjusted Operating Margin3 (1) Not recast for change in segment allocation methodology (2) Based on the midpoint of guidance (3) Adjusted operating margin is a non-IFRS financial measure. See Appendix for a reconciliation to nearest comparable IFRS measure
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OUTDOOR PERFORMANCE 2Q26 RESULTS • Q2 revenue increased 37% to $569 million, driven by very strong performance in Salomon Softgoods. • DTC grew 52% led by new doors and higher productivity across markets, and wholesale expanded 25%. • Regionally, the growth rate was led by APAC, Greater China, and accelerating growth in the Americas, followed by EMEA. • 13 net new Salomon brand store openings in Q2, with majority in Greater China and APAC. • Salomon expansion into Foot Locker and JD Sports off to a great start. • Winter Sports Equipment has positive order book trends despite challenging market conditions. • Adj. operating margin expanded 800bps to 14.6% in Q2, incl. a 270bps benefit from net tariff refunds. Margin improvement largely driven by gross margin expansion due to mix shift benefits and SG&A leverage on strong sales. (1) Not recast for change in segment allocation methodology (2) Based on the midpoint of guidance (3) Adjusted operating margin is a non-IFRS financial measure. See Appendix for a reconciliation to nearest comparable IFRS measure 1.4 1.7 1.8 2.4 3.1 2022 2023 2024 2025 2026E(2) Revenue ($B) and Adjusted Operating Margin ~22% CAGR 8.3%(1) 9.1%(1) 9.4%(1) 13.5% 16.0 – 16.5% Adjusted Operating Margin3
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BALL & RACQUET 2Q26 RESULTS • Q2 revenue increased 24% to $390 million driven by continued strength in Racquet Sports, both Softgoods and equipment. • We continue to see very strong momentum in Tennis 360 globally. • Baseball returned to growth, followed by golf and inflatables. • Regionally, the growth rate was led by Greater China, APAC and EMEA, followed by the Americas. • 12 net new Wilson brand store openings in Q2, with the majority in Greater China and APAC. • Tennis 360 is now in 450 DICK’s locations. • Adj. operating margin increased 1,300bps to 17.2%, incl. a 970bps benefit from net tariff refunds. Underlying gross margin expansion was driven by favorable pricing and mix, slightly offset by higher SG&A and our intentional decision to reinvest in Wilson Softgoods. 1.0 1.1 1.2 1.3 1.5 2022 2023 2024 2025 2026E(2) Revenue ($B) and Adjusted Operating Margin ~10% CAGR 5.9% (1) 2.8% (1) 2.1% (1) 3.9% 6.7 – 7.2% Adjusted Operating Margin3 (1) Not recast for change in segment allocation methodology (2) Based on the midpoint of guidance (3) Adjusted operating margin is a non-IFRS financial measure. See Appendix for a reconciliation to nearest comparable IFRS measure
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BALANCE SHEET UPDATE (1) Net cash is defined as cash and cash equivalents, less the principal value of non-current borrowings, the revolving credit facility and other borrowings (2) Calculated with mid-point of 2026 guidance ($M) 3/31/26 ST bank financing 145 Total debt 145 Cash 684 Net Cash(1) 539 6/30/26 147 720 2026E adjusted EBITDA(2) 1,590 1,590 Leverage ratio (0.3)x (0.4)x 147 573
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INVENTORY REVENUE AND INVENTORY (% CHANGE) Sales growth Inventory growth 23% 18% 27% 32% 32% 21% 11% 33% 33% 19% 2023 2024 2025 1Q26 2Q26
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CASH FLOW FROM OPERATING ACTIVITIES -$92 $199 $425 $730 2022 2023 2024 2025 2026E In millions USD
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GUIDANCE
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OUTLOOK: FULL YEAR 2026 X OTHER THAN REVENUE, ALL GUIDANCE FIGURES REFERENCE ADJUSTED AMOUNTS GROUP • Reported revenue growth: ~24%, including a 200 – 250 basis point currency benefit at current exchange rates • Gross margin: 60.5 – 61.0% • Operating margin: 14.2 – 14.5% • Other operating income: ~$43 million • Non-controlling interest: ~$30 million • Net finance cost: ~$85 million • Effective tax rate: ~28% • Fully diluted share count: ~585 million • Fully diluted EPS: $1.27 – 1.30 • D&A: ~$450 million, including ~$220 million of ROU depreciation • CapEx: ~$400 million • Corporate expense: ~$240 million SEGMENTS • Technical Apparel: 25 – 26% revenue growth; segment operating margin ~22.5% • Outdoor Performance: 27 – 28% revenue growth; segment operating margin 16.0 – 16.5% • Ball & Racquet: ~14% revenue growth; segment operating margin 6.7 – 7.2%
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GROUP • Reported revenue growth: 18 – 20%, which assumes a ~50 basis point currency benefit at current exchange rates • Gross margin: ~59.0% • Operating margin: 13.5 – 14.0% • Net finance cost: $15 – 20 million • Effective tax rate: ~28% • Fully diluted share count: ~590 million • Fully diluted EPS: $0.31 – 0.33 OUTLOOK: 3Q 2026 X OTHER THAN REVENUE, ALL GUIDANCE FIGURES REFERENCE ADJUSTED AMOUNTS
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Q&A
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APPENDIX 1. Adjusted gross profit reconciliation 2. Adjusted SG&A reconciliation 3. Adjusted net finance cost reconciliation 4. Adjusted income tax expense reconciliation 5. Adjusted net income reconciliation 6. Adjusted operating profit reconciliation 7. Adjusted EBITDA and adjusted EBITDA margin reconciliation 8. P&L excluding non-IFRS adjustments and supporting IFRS reconciliations
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ADJUSTED GROSS PROFIT RECONCILIATION (1) For the Three and Six Months Ended June 30, 2026 and 2025 (Unaudited) For the three months ended June 30, For the six months ended June 30, In millions 2026 2025 2026 2025 Gross Profit $ 1,071.6 $ 722.9 $ 2,236.9 $ 1,574.0 Depreciation and amortization on PPA fair value step up 2.7 3.8 5.5 7.4 Expenses related to certain legal proceedings — (1.3) — (2.1) Adjusted Gross Profit $ 1,074.3 $ 725.4 $ 2,242.4 $ 1,579.3 (1) The presented figures and percentages are subject to rounding adjustments, which may cause discrepancies between the sum of the individual figures and the presented aggregated column and row totals. ADJUSTED SG&A RECONCILIATION (1) For the Three and Six Months Ended June 30, 2026 and 2025 (Unaudited) For the three months ended June 30, For the six months ended June 30, In millions 2026 2025 2026 2025 Selling, general and administrative expenses $ (909.2) $ (697.8) $ (1,765.4) $ (1,339.7) Depreciation and amortization on PPA fair value step up 6.3 7.2 12.7 14.1 Restructuring expenses 6.8 6.0 11.0 8.9 Expenses related to transaction activities 0.6 2.0 0.5 2.3 Expenses related to certain legal proceedings 0.2 0.1 0.2 0.1 Share-based payments (1.7) 5.9 3.0 10.9 Adjusted SG&A expenses $ (897.0) $ (676.6) $ (1,738.0) $ (1,303.4) (1) The presented figures and percentages are subject to rounding adjustments, which may cause discrepancies between the sum of the individual figures and the presented aggregated column and row totals.
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ADJUSTED NET FINANCE COST RECONCILIATION For the Three and Six Months Ended June 30, 2026 and 2025 (Unaudited) For the three months ended June 30, For the six months ended June 30, In millions 2026 2025 2026 2025 Net Finance Costs $ (30.9) $ (21.9) $ (111.4) $ (38.5) Loss on debt extinguishment — — 50.5 — Derivative contract loss 9.6 — 9.6 — Adjusted Net Finance Costs $ (21.3) $ (21.9) $ (51.3) $ (38.5) ADJUSTED INCOME TAX EXPENSE RECONCILIATION (1) For the Three and Six Months Ended June 30, 2026 and 2025 (Unaudited) For the three months ended June 30, For the six months ended June 30, In millions 2026 2025 2026 2025 Income Tax Expense $ (43.0) $ 0.6 $ (113.5) $ (58.9) Deferred tax on PPA fair value step up (2.1) (2.8) (4.4) (5.4) Restructuring expenses (1.7) (1.5) (2.7) (2.2) Expenses related to transaction activities (0.2) (0.5) (0.2) (0.6) Expenses related to certain legal proceedings — 0.3 — 0.5 Share-based payments 0.4 (1.4) (0.8) (2.7) Impairment of goodwill and intangible assets (0.4) — (0.4) — Derivative contract loss (2.7) — (2.7) — Loss on debt extinguishment — — (10.6) — Adjusted Income Tax Expense $ (49.7) $ (5.3) $ (135.3) $ (69.3)
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ADJUSTED NET INCOME RECONCILIATION (1) For the Three and Six Months Ended June 30, 2026 and 2025 (Unaudited) For the three months ended June 30, For the six months ended June 30, In millions (except for share and earnings per share information) 2026 2025 2026 2025 Net income attributable to equity holders of the Company $ 107.2 $ 18.2 $ 271.8 $ 152.8 Depreciation and amortization on PPA fair value step up 9.0 11.0 18.2 21.5 Restructuring expenses 6.8 6.0 11.0 8.9 Impairment of goodwill and intangible assets 1.8 — 1.8 — Expenses related to transaction activities 0.6 2.0 0.5 2.3 Expenses related to certain legal proceedings 0.2 (1.2) 0.2 (2.0) Share-based payments (1.7) 5.9 3.0 10.9 Derivative contract loss 9.6 — 9.6 — Loss on debt extinguishment — — 50.5 — Income tax expense on adjustments (6.7) (5.9) (21.8) (10.4) Adjusted net income attributable to equity holders of the Company $ 126.8 $ 36.0 $ 344.8 $ 184.0 Weighted-average dilutive shares outstanding 589,086,863 560,798,983 580,676,189 560,361,095 Adjusted total diluted earnings per share $ 0.22 $ 0.06 $ 0.59 $ 0.33 (1) The presented figures and percentages are subject to rounding adjustments, which may cause discrepancies between the sum of the individual figures and the presented aggregated column and row totals.
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ADJUSTED OPERATING PROFIT RECONCILIATION (1) For the Three and Six Months Ended June 30, 2026 and 2025 (Unaudited) For the three months ended June 30, For the six months ended June 30, In millions 2026 2025 2026 2025 Income before tax $ 160.8 $ 21.8 $ 401.3 $ 219.4 Depreciation and amortization on PPA fair value step up 9.0 11.0 18.2 21.5 Restructuring expenses 6.8 6.0 11.0 8.9 Impairment of goodwill and intangible assets 1.8 — 1.8 — Expenses related to transaction activities 0.6 2.0 0.5 2.3 Expenses related to certain legal proceedings 0.2 (1.2) 0.2 (2.0) Share-based payments (1.7) 5.9 3.0 10.9 Loss on debt extinguishment — — 50.5 — Interest expense 20.0 30.0 44.9 52.0 Foreign currency exchange losses/(gains), net & other finance costs 16.3 (6.7) 24.1 (10.6) Interest income (5.4) (1.4) (8.1) (2.9) Adjusted operating profit $ 208.4 $ 67.4 $ 547.4 $ 299.5 (1) The presented figures and percentages are subject to rounding adjustments, which may cause discrepancies between the sum of the individual figures and the presented aggregated column and row totals.
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ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN RECONCILIATION (1) For the Three and Six Months Ended June 30, 2026 and 2025 (Unaudited) For the three months ended June 30, For the six months ended June 30, In millions 2026 2025 2026 2025 Revenue $ 1,632.6 $ 1,236.3 $ 3,578.1 $ 2,708.8 Net income attributable to equity holders of the Company $ 107.2 $ 18.2 $ 271.8 $ 152.8 Net income attributable to non-controlling interests 10.6 4.2 16.0 7.7 Depreciation and amortization (2) 112.5 81.4 215.1 159.1 Interest expense (3) 20.0 30.0 44.9 52.0 Foreign currency exchange losses/(gains), net & other finance costs 16.3 (6.7) 24.1 (10.6) Loss on debt extinguishment — — 50.5 — Interest income (5.4) (1.4) (8.1) (2.9) Income tax expense/(benefit) 43.0 (0.6) 113.5 58.9 Restructuring expenses 6.8 6.0 11.0 8.9 Impairment of goodwill and intangible assets 1.8 — 1.8 — Expenses related to transaction activities 0.6 2.0 0.5 2.3 Expenses related to certain legal proceedings 0.2 (1.2) 0.2 (2.0) Share-based payments (1.7) 5.9 3.0 10.9 Adjusted EBITDA $ 311.9 $ 137.8 $ 744.3 $ 437.1 Net income margin 6.6 % 1.5 % 7.6 % 5.6 % Adjusted EBITDA Margin 19.1 % 11.1 % 20.8 % 16.1 % (1) The presented figures and percentages are subject to rounding adjustments, which may cause discrepancies between the sum of the individual figures and the presented aggregated column and row totals. (2) Depreciation and amortization includes amortization expense for right-of-use assets capitalized under IFRS 16, Leases of $55.2 million and $39.4 million for the three months ended June 30, 2026 and 2025, and $104.8 million and $75.2 million for the six months ended June 30, 2026 and 2025, respectively. (3) Total interest expense on lease liabilities under IFRS 16, Leases was $11.9 million and $7.9 million for the three months ended June 30, 2026 and 2025, and $21.5 million and $15.2 million for the six months ended June 30, 2026 and 2025, respectively.
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P&L EXCLUDING NON-IFRS ADJUSTMENTS (1) 2Q'26 Total Sales (M$) 1,632.6 Growth% 32.1% 2Q'25 1,236.3 23.5% Adj. Gross Profit 1,074.3 725.4 Adj. Gross Margin% 65.8% 58.7% Adj. SG&A 897.0 676.6 Adj. SG&A% 54.9% 54.7% Other operating income 31.6 21.2 Adj. Operating Profit 208.4 67.4 Adj. OP Margin% 12.8% 5.5% Adj. Net finance cost 21.3 21.9 Adj. Pretax Income 187.1 45.4 Adj. Income tax expense 49.7 5.3 Adj. Effective tax rate 26.6% 11.7% Adj. Net Income 137.3 40.2 Minority interest 4.2 Adj NI to Amer Shareholders 36.0 Adj. Diluted EPS 0.22 0.06 Diluted share count 589.1 560.8 10.6 126.8 (1) The presented figures and percentages are subject to rounding adjustments, which may cause discrepancies between the sum of the individual figures and the presented aggregated column and row totals.
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OMNI-COMP DEFINITION Amer Sports defines Omni-comp as: reflects revenue growth on a constant currency basis from retail stores that have been open for at least 13 full fiscal months and from owned e-commerce websites. Remodeled stores are excluded from the comparable sales growth calculation for 13 months if a store: (i) changes its square footage by more than 20% or (ii) is closed for more than 60 days for the refit. Stores closed for 60 days or less are excluded from the comparable sales growth calculation only for the months they are closed.