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Exhibit 99.1 Dutch Bros Inc. Reports Third Quarter 2026 Financial Results Achieves 30% Revenue Growth Year-Over-Year Delivers 5.4% Company-Operated and 4.4% Systemwide Same Shop Sales Growth Announces Accelerated 2027 System Shop Opening Goal of 250 Shops TEMPE, Ariz. - November 4, 2026 - Dutch Bros Inc. (NYSE: BROS; “Dutch Bros” or the “Company”), one of the fastest- growing brands in the U.S. quick service beverage industry, today reported financial results for the third quarter ended September 30, 2026. Third Quarter 2026 Highlights • Opened 48 new shops, 42 of which were company-operated. • Total revenues grew 29.8% to $549.8 million as compared to $423.6 million in the same period of 2025. • Company-operated same shop sales increased 5.4% and company-operated same shop customer visits increased 1.0% relative to the same period of 2025. Systemwide same shop salesincreased 4.4% and systemwide same shop customer visits increased 0.4% relative to the same period in 2025. • Net income was $37.2 million as compared to $27.3 million in the same period of 2025. • Adjusted EBITDA grew 29.6% to $101.1 million as compared to $78.0 million in the same period of 2025. • Completed the reacquisition of franchise rights and assets of the Phoenix East Valley franchise consisting of 32 locations on July 27, 2026. Christine Barone, Chief Executive Officer and President of Dutch Bros, said, “Dutch Bros continues to gain share in the high- growth beverage category. In the third quarter, we achieved our fourteenth consecutive quarter of positive same shop sales and ninth consecutive quarter of same shop customer visit growth. This is a testament to the strength of our brand, our differentiated people-led culture, and our strategic focus on expanding customer occasions.” Barone concluded, “The investments we’ve made in our people, tools, and processes over the past several years have enabled seamless execution by our teams and strengthened the foundation of our business. As we look ahead to 2027, we’re building on that foundation and unlocking new growth opportunities across the business. From accelerating our pace of beverage innovation to testing new hot food platforms, enhancing digital capabilities and piloting delivery, we’re creating more reasons for new and existing customers to choose Dutch Bros.” 1 Dutch Bros Inc.| Earnings Release | 1
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2026 Guidance • Total revenues are now projected to be at least $2.1 billion. • Same shop sales growth is now estimated to be at least 5%. • Adjusted EBITDA is now estimated to be approximately $380 million. • Capital expenditures are now estimated to be between $370 million and $390 million. The item below remains unchanged. • Total system shop openings are estimated to be at least 185. 2027 Guidance • Total system shop openings are estimated to be approximately 250. _________________ This is a non-GAAP financial measure. Reconciliation of U.S. GAAP to non-GAAP results is provided in the section “Non-GAAP Financial Measures”. We have not reconciled guidance for Adjusted EBITDA to the corresponding U.S. GAAP financial measure because we do not provide guidance for the various reconciling items. We are unable to provide guidance for these reconciling items because we cannot determine their probable significance, as certain items are outside of our control and cannot be reasonably predicted due to the fact that these items could vary significantly from period to period. Accordingly, reconciliation to the corresponding U.S. GAAP financial measure is not available without unreasonable effort. 2 1 2 Dutch Bros Inc.| Earnings Release | 2
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Conference Call and Webcast Today Christine Barone, Chief Executive Officer and President, and Joshua Guenser, Chief Financial Officer, will host a conference call and webcast today at 5:00 p.m. Eastern Time (ET) to discuss financial results for the third quarter ended September 30, 2026. Event: Third Quarter 2026 Conference Call and Webcast Date: Wednesday, November 4, 2026 Time: 5:00 p.m. ET Dial In: 1-201-493-6779 Webcast: https://investors.dutchbros.com under “Events & Presentations”. The webcast will be archived shortly after the conference call has concluded. We will also publish earnings presentation slides related to these financial results on our website https://investors.dutchbros.com under “Events & Presentations”. About Dutch Bros Inc. Dutch Bros Inc. (NYSE: BROS) is a fun-loving, mind-blowing drive-thru specialty beverage leader dedicated to making a massive difference, one cup at a time. It was founded in Grants Pass, Oregon, in 1992 and now shares its vibrant culture and fully customizable drinks at 1,273 locations as of September 30, 2026. Dutch Bros serves a wide variety of unique, handcrafted beverages such as its exclusive Dutch Bros Rebel energy drink, Myst Energy Refresher , specialty coffee, nitrogen-infused cold brew, tea, lemonade, soda and more. Dutch Bros is wholeheartedly focused on radiating kindness and sharing the Dutch Luv . In addition to its mission of speed, quality and service, the Dutch Bros Foundation is passionate about giving back to the communities it serves. Through local giving and annual nation-wide initiatives, the Dutch Bros Foundation makes impactful contributions to causes across the country. To learn more about Dutch Bros, visit www.dutchbros.com, follow Dutch Bros on Instagram, Facebook, X, and TikTok, and download the Dutch Bros app to earn points and score rewards! Dutch Bros, our Windmill logo ( ), Dutch Bros Rebel, and our other registered and common law trade names, trademarks and service marks are the property of Dutch Bros Inc. All other trademarks, trade names and service marks appearing in this press release are the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release may be referred to without the ® and ™ symbols, but such references should not be construed as any indicator that their respective owners will not assert their rights thereto. ® TM ® ® Dutch Bros Inc.| Earnings Release | 3
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Forward-Looking Statements In addition to historical information, this press release contains a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding Dutch Bros’ growth trajectory, and Dutch Bros’ potential or assumed future results of operations, including guidance for 2026 and 2027, new shop openings, estimated capital expenditures, business strategies and initiatives, and potential sales and revenue growth. These statements are based on Dutch Bros’ current expectations and beliefs, as well as a number of assumptions concerning future events. When used in this press release, the words “intend,” “may,” “target,” “estimates,” “predict,” “project,” “expect,” “should,” “guidance,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Dutch Bros’ control that could cause actual results to differ materially from the results discussed in the forward-looking statements, including those related to past growth being indicative of future results, whether Dutch Bros’ foundational investments result in continued growth for Dutch Bros, including increases in customer engagement and sales, the success of Dutch Bros’ food offering sales translating to sales of food offerings in other markets, changes in consumer preference due to new information or regulations regarding additives, diet and health or otherwise, acquisitions or partnerships not ultimately strengthening Dutch Bros’ competitive position, or achieving the intended goals of such acquisition or partnership, any problems that may arise in successfully integrating acquired businesses or assets, which may result in Dutch Bros not operating as effectively and efficiently as expected or divert management from their primary responsibilities, general economic conditions, changes in general consumer discretionary spending, including due to higher gas prices, inflation or lack of consumer confidence, commodity inflation, the ability to navigate evolving macroeconomic conditions, the effects of disruption between the U.S. and its trading partners due to military conflicts, tariffs or other policies, disruptions in our supply chain, increased labor costs, ability to hire and retain employees, the availability of suitable new shop sites and our ability to negotiate acceptable agreements regarding the new shop sites, and other risks, including those described in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 13, 2026, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 filed with the SEC on August 6, 2026, and in our future reports to be filed with the SEC, including our Quarterly Report on Form 10-Q for the quarter ended September 30, 2026. Forward-looking statements contained in this press release are made as of this date, and Dutch Bros undertakes no duty to update such information except as required under applicable law. Dutch Bros Inc.| Earnings Release | 4
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DUTCH BROS INC. Condensed Consolidated Statements of Operations Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts; unaudited) 2026 2025 2026 2025 Revenues Company-operated shops $ 515,006 $ 392,833 $ 1,454,094 $ 1,099,754 Franchising and other 34,833 30,751 111,008 94,795 Total revenues 549,839 423,584 1,565,102 1,194,549 Costs and Expenses Cost of sales 418,071 316,805 1,174,802 877,733 Selling, general and administrative 78,954 65,289 232,781 189,595 Total costs and expenses 497,025 382,094 1,407,583 1,067,328 Income from operations 52,814 41,490 157,519 127,221 Other expense Interest expense, net (7,079) (6,695) (21,337) (20,886) Other income (expense), net 300 149 1,086 (1,852) Total other expense (6,779) (6,546) (20,251) (22,738) Income before income taxes 46,035 34,944 137,268 104,483 Income tax expense 8,807 7,661 24,771 16,363 Net income $ 37,228 $ 27,283 $ 112,497 $ 88,120 Less: Net income attributable to non-controlling interests 10,071 9,788 31,833 29,648 Net income attributable to Dutch Bros Inc. $ 27,157 $ 17,495 $ 80,664 $ 58,472 Net income per share of Class A common stock: Basic $ 0.20 $ 0.14 $ 0.61 $ 0.47 Diluted $ 0.20 $ 0.14 $ 0.60 $ 0.47 Weighted-average shares of Class A common stock outstanding: Basic 137,941 126,986 133,230 124,751 Diluted 138,178 127,379 133,388 125,204 Dutch Bros Inc.| Earnings Release | 5
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DUTCH BROS INC. Company-Operated Shops Results Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 (dollars in thousands; unaudited) $ % $ % $ % $ % Company-operated shops revenue 515,006 100.0 392,833 100.0 1,454,094 100.0 1,099,754 100.0 Beverage, food and packaging costs 132,064 25.6 101,875 25.9 377,494 26.0 279,722 25.4 Labor costs 137,636 26.7 108,098 27.5 379,401 26.0 298,807 27.2 Occupancy and other costs 92,804 18.0 66,696 17.0 252,674 17.4 180,607 16.4 Pre-opening costs 8,026 1.6 6,933 1.8 22,775 1.6 17,086 1.6 Depreciation and amortization 34,997 6.8 26,796 6.8 103,188 7.1 77,047 7.0 Company-operated shops costs and expenses 405,527 78.7 310,398 79.0 1,135,532 78.1 853,269 77.6 Company-operated shops gross profit 109,479 21.3 82,435 21.0 318,562 21.9 246,485 22.4 Company-operated shops contribution 144,476 28.1 109,231 27.8 421,750 29.0 323,532 29.4 _________________ Reconciliation of GAAP to non-GAAP results is provided in the section “Non-GAAP Financial Measures”. DUTCH BROS INC. Summary Cash Flows Data Nine Months Ended September 30, (in thousands; unaudited) 2026 2025 Net cash provided by operating activities $ 297,033 $ 215,906 Net cash used in investing activities (307,859) (169,936) Net cash used in financing activities (63,972) (72,129) Net decrease in cash and cash equivalents $ (74,798) $ (26,159) Cash and cash equivalents at beginning of period 269,404 293,354 Cash and cash equivalents at end of period $ 194,606 $ 267,195 1 1 Dutch Bros Inc.| Earnings Release | 6
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DUTCH BROS INC. Condensed Consolidated Balance Sheets (in thousands; unaudited) September 30,2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $ 194,606 $ 269,404 Accounts receivable, net 15,768 18,387 Inventories, net 42,001 48,917 Prepaid expenses and other current assets 31,732 20,670 Total current assets 284,107 357,378 Property and equipment, net 981,790 824,502 Lease right-of-use assets, net 1,076,370 855,339 Deferred income tax assets, net 1,103,811 946,571 Other long-term assets 64,975 25,524 Total assets $ 3,511,053 $ 3,009,314 Liabilities and Equity Current liabilities: Accounts payable $ 49,530 $ 37,625 Other current liabilities 121,522 99,173 Deferred revenue 52,332 55,658 Current portion of tax receivable agreements liability 686 7,696 Current portion of lease liabilities 46,080 36,466 Current portion of long-term debt 4,766 3,881 Total current liabilities 274,916 240,499 Deferred revenue, net of current portion 6,669 8,918 Lease liabilities, net of current portion 1,054,345 852,380 Long-term debt, net of current portion 192,870 196,295 Tax receivable agreements liability, net of current portion 973,132 813,353 Total liabilities 2,501,932 2,111,445 Equity: Common stock 1 1 Additional paid in capital 649,634 581,261 Accumulated other comprehensive income (loss) (29) 48 Retained earnings 180,172 99,508 Total stockholders' equity attributable to Dutch Bros Inc. 829,778 680,818 Non-controlling interests 179,343 217,051 Total equity 1,009,121 897,869 Total liabilities and equity $ 3,511,053 $ 3,009,314 Dutch Bros Inc.| Earnings Release | 7
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DUTCH BROS INC. Select Financial Metrics Three Months Ended September 30, Nine Months Ended September 30, (dollars in thousands; unaudited) 2026 2025 2026 2025 Shop count, beginning of period Company-operated 888 725 811 670 Franchised 337 318 325 312 1,225 1,043 1,136 982 Company-operated new openings 42 34 119 89 Franchised new openings 6 4 18 10 Acquisition of franchise shops 30 — 30 — Shop count, end of period Company-operated 960 759 960 759 Franchised 313 322 313 322 Total shop count 1,273 1,081 1,273 1,081 Systemwide AUV N/A N/A $ 2,226 $ 2,081 Company-operated shops AUV N/A N/A $ 2,228 $ 2,023 Systemwide same shop sales 4.4 % 5.7 % 6.0 % 5.2 % Ticket 4.0 % 1.0 % 3.8 % 2.3 % Customer visits 0.4 % 4.7 % 2.2 % 2.9 % Company-operated same shop sales 5.4 % 7.4 % 7.9 % 7.0 % Ticket 4.4 % 0.6 % 4.3 % 2.0 % Customer visits 1.0 % 6.8 % 3.6 % 5.0 % Systemwide sales $ 702,210 $ 576,886 $ 2,015,169 $ 1,637,831 Company-operated operating weeks 12,180 9,645 33,862 27,566 Franchising and other operating weeks 4,174 4,192 12,757 12,322 Dutch Rewards customer visits as a percentage of total customer visits 74 % 72 % 74 % 72 % 1 1 1, 2 1 2 3 3 4 Dutch Bros Inc.| Earnings Release | 8
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Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 (dollars in thousands; unaudited) $ % $ % $ % $ % Company-operated shops revenues515,006 100.0 392,833 100.0 1,454,094 100.0 1,099,754 100.0 Company-operated shops gross profit109,479 21.3 82,435 21.0 318,562 21.9 246,485 22.4 Company-operated shops contribution 144,476 28.1 109,231 27.8 421,750 29.0 323,532 29.4 Selling, general, and administrative expenses 78,954 14.4 65,289 15.4 232,781 14.9 189,595 15.9 Adjusted selling, general, and administrative expenses 69,573 12.7 57,639 13.6 207,576 13.3 169,845 14.2 Net income 37,228 6.8 27,283 6.4 112,497 7.2 88,120 7.4 Adjusted EBITDA 101,055 18.4 78,003 18.4 294,142 18.8 229,912 19.2 ___________ In 2026, AUVs are determined based on the net sales for any trailing twelve-month period for systemwide and company-operated shops, and same shop sales represent the percentage change in year-over-year sales, for the comparable shop base, that have been open at least 15 complete months as of the first day of the quarterly reporting period. Prior to 2026, AUVs were determined based on shops that had been open a minimum of 15 months, and same shop base was defined as shops open for 15 complete months or longer as of the first day of the reporting period. Prior period numbers have not been adjusted to conform to the new definition as the changes did not have a material impact. AUVs are calculated by dividing the systemwide and company- operated shops net sales by the total number of systemwide and company-operated shops, respectively. For the three and nine months ended September 30, 2026, the calculation of AUV for company-operated shops includes trailing twelve-month net sales related to the reacquired franchise shops that have been open at least 15 complete months. Management uses these metrics as an indicator of shop growth, expectations of mature locations, and future expansion strategy. The number of shops included in the systemwide and company-operated comparable bases for the respective periods are presented in the following table. Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Systemwide shop base 1,012 876 1,012 794 Company-operated shop base 724 582 724 510 Systemwide sales and systemwide same shop sales are operating measures that include sales at company-operated shops and sales at franchised shops during the comparable periods presented. Franchise sales represent sales at all franchise shops and are revenues to our franchisees. We do not record franchise sales as revenues; however, our royalty revenues and advertising fund contributions are calculated based on a percentage of franchise sales. As these metrics include sales reported to us by our non-consolidated franchise partners, these metrics should be considered as a supplement to, not a substitute for, our results as reported under U.S. GAAP. Management uses these metrics as indicators of our system’s overall financial health, growth and future expansion prospects. Company-operated and franchise shops operating weeks are calculated based on the number of operating days for the shop base and dividing by 7. Our shop base is defined as shops opened as of the end date of the periods presented. The operating weeks calculations reflect re-acquired franchises. Management uses these metrics as indicators of our system’s overall financial health, growth and future expansion prospects. Dutch Rewards is our digitally-based rewards program available exclusively through the Dutch Rewards app. Management uses this metric as an indicator of customer loyalty adoption of our Dutch Rewards app and future promotional plans. Reconciliation of U.S. GAAP to non-GAAP results is provided in the section “Non-GAAP Financial Measures”. 5 5 5 1 2 3 4 5 Dutch Bros Inc.| Earnings Release | 9
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Non-GAAP Financial Measures In addition to disclosing financial results in accordance with U.S. GAAP, this press release contains references to the non- GAAP financial measures below. We believe these non-GAAP financial measures provide investors with useful supplemental information about our operating performance, enable comparison of financial trends and results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance. Our non-GAAP financial measures reflect adjustments based on one or more of the following items, as well as the related income tax effects where applicable. Income tax effects have been calculated based on the combined total non-GAAP adjustments using our total effective tax rate. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP, and the financial results calculated in accordance with U.S. GAAP and reconciliations from these results should be carefully evaluated. Company-operated shops contribution (in dollars and as a percentage of revenue) Definition and/or calculation Company-operated shops segment gross profit, before company-operated shops depreciation and amortization. Usefulness to management and investors This non-GAAP measure is used by our management in making performance decisions without the impact of non-cash depreciation and amortization charges. This is a standard metric used across our industry by investors. EBITDA, Adjusted EBITDA (in dollars and as a percentage of revenue) EBITDA — definition and/or calculation Net income before interest expense (net of interest income), income tax expense, and depreciation and amortization expense. Adjusted EBITDA — definition and/or calculation Defined as EBITDA (as defined above), excluding equity-based compensation, expenses associated with credit facility refinancing, acquisitions-related costs, TRA remeasurements, and organization realignment and restructurings costs. Usefulness to management and investors These non-GAAP measures are supplemental operating performance measures we believe facilitate comparisons to historical performance and competitors’ operating results. We believe these non-GAAP measures presented provide investors with a supplemental view of our operating performance that facilitates analysis and comparisons of our ongoing business operations because they exclude items that may not be indicative of our ongoing operating performance. Adjusted selling, general, and administrative (in dollars and as a percentage of revenue) Definition and/or calculation Selling, general, and administrative expenses, excluding depreciation and amortization, equity-based compensation, acquisition-related costs, and organization realignment and restructurings costs. Usefulness to management and investors This non-GAAP measure is used as a supplemental measure of operating performance that we believe is useful to evaluate our performance period over period and relative to our competitors. We believe the non-GAAP measure presented provides investors with a supplemental view of our operating performance that facilitates analysis and comparisons of our ongoing business operations because it excludes items that may not be indicative of our ongoing operating performance. Dutch Bros Inc.| Earnings Release | 10
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Adjusted net income Definition and/or calculation Net income, excluding equity-based compensation, expenses associated with credit facility refinancing, acquisitions-related costs, TRA remeasurements, organization realignment and restructurings costs, and income tax effects of items excluded from net income. Usefulness to management and investors This non-GAAP measure is used as a supplemental measure of operating performance that we believe is useful to evaluate our performance period over period and relative to our competitors. We believe this measure facilitates a better comparison with other companies that have different organizational and tax structures, as well as comparisons period over period. Adjusted fully exchanged weighted-average shares of diluted common stock outstanding Definition and/or calculation Weighted-average shares of Class A common stock outstanding - basic with addition of dilutive impacts of restricted stock units, as well as the assumed exchange of all of the Dutch Bros OpCo Class A common units not held by Dutch Bros Inc. for Dutch Bros Inc. Class A common stock. Usefulness to management and investors This non-GAAP measure is used as a supplemental measure of operating performance that we believe is useful to evaluate our performance period over period and relative to our competitors. By adding in the assumed exchange of all of the outstanding Dutch Bros OpCo Class A common units not held by Dutch Bros Inc. for Dutch Bros Inc. Class A common stock, we believe this measure facilitates a better comparison with other companies that have different organizational and tax structures, as well as comparisons period over period. Adjusted net income per fully exchanged share of diluted common stock Definition and/or calculation Net income per share of Class A common stock - diluted, excluding per share impacts of equity-based compensation, expenses associated with credit facility refinancing, acquisitions-related costs, TRA remeasurements, organization realignment and restructurings costs, income tax effects of items excluded from net income, and removal of per share impacts of controlling and non-controlling interests. Usefulness to management and investors This non-GAAP measure is used as a supplemental measure of operating performance that we believe is useful to evaluate our performance period over period and relative to our competitors. By assuming the full exchange of all of the outstanding Dutch Bros OpCo Class A common units not held by Dutch Bros Inc. for Dutch Bros Inc. Class A common stock and related net income adjustments, we believe this measure facilitates a better comparison with other companies that have different organizational and tax structures, as well as comparisons period over period. Non-GAAP adjustments Below are the definitions of the non-GAAP adjustments that are used in the calculation of our non-GAAP measures, as described above. Equity-based compensation Non-cash expenses related to the grant and vesting of stock awards, including restricted stock units and performance restricted stock units in Dutch Bros Inc. to certain eligible employees. Dutch Bros Inc.| Earnings Release | 11
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Expenses associated with 2022 credit facility refinancing Costs incurred as a result of refinancing our credit facility in May 2025, including write-off of unamortized loan costs related to the amendment and restatement of our 2022 Credit Facility, and intermediary fees and other costs related to our 2025 Credit Facility. Acquisitions-related costs Costs incurred as a result of our acquisitions activity, including professional fees and integration costs. TRAs remeasurements (Gain) loss impacts related to adjustments of our TRAs liabilities. Organization realignment and restructurings Fees and costs incurred in connection with our comprehensive initiatives to develop and implement a long-term strategy involving changes to our organizational structure to support our growth. Dilutive effects of restricted stock awards and units Addition of incremental shares of restricted stock units calculated under the treasury stock method, when they are dilutive for the calculation of weighted-average shares on a non-GAAP basis. Assumed exchange of weighted-average LLC interests for shares of Class A common stock Weighted-average of all outstanding Dutch Bros OpCo Class A common units not held by Dutch Bros Inc. that are assumed to be exchanged for Dutch Bros Inc. Class A common stock. Supplemental Reconciliations of U.S. GAAP Actuals to Non-GAAP Actuals Following are the reconciliations of the most comparable GAAP financial measure to non-GAAP financial measure. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP, and the reconciliations from U.S. GAAP to Non-GAAP measures should be carefully evaluated. Please refer to "Non-GAAP Financial Measures" in this press release for a detailed explanation of the adjustments made to the comparable U.S. GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors. Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 (dollars in thousands; unaudited) $ % $ % $ % $ % Company-operated shops gross profit 109,479 21.3 82,435 21.0 318,562 21.9 246,485 22.4 Depreciation and amortization 34,997 6.8 26,796 6.8 103,188 7.1 77,047 7.0 Company-operated shops contribution 144,476 28.1 109,231 27.8 421,750 29.0 323,532 29.4 Dutch Bros Inc.| Earnings Release | 12
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Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 (dollars in thousands; unaudited) $ % $ % $ % $ % Net income 37,228 6.8 27,283 6.4 112,497 7.2 88,120 7.4 Depreciation and amortization 39,340 7.2 29,066 6.9 113,076 7.2 83,389 7.0 Interest expense, net 7,079 1.2 6,695 1.6 21,337 1.4 20,886 1.7 Income tax expense 8,807 1.6 7,661 1.8 24,771 1.6 16,363 1.4 EBITDA 92,454 16.8 70,705 16.7 271,681 17.4 208,758 17.5 Equity-based compensation 6,955 1.3 4,648 1.1 19,112 1.2 13,513 1.1 Expenses associated with 2022 credit facility refinancing — — — — — — 2,000 0.2 Acquisitions-related costs 1,209 0.2 — — 1,518 0.1 — — TRAs remeasurements 437 0.1 — — — — — — Organization realignment and restructurings — — 2,650 0.6 1,831 0.1 5,641 0.4 Adjusted EBITDA 101,055 18.4 78,003 18.4 294,142 18.8 229,912 19.2 Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 (dollars in thousands; unaudited) $ % $ % $ % $ % Selling, general, and administrative 78,954 14.4 65,289 15.4 232,781 14.9 189,595 15.9 Depreciation and amortization (2,109) (0.4) (924) (0.2) (5,195) (0.3) (2,143) (0.2) Equity-based compensation (6,063) (1.1) (4,076) (1.0) (16,661) (1.1) (11,966) (1.1) Acquisitions-related costs (1,209) (0.2) — — (1,518) (0.1) — — Organization realignment and restructurings — — (2,650) (0.6) (1,831) (0.1) (5,641) (0.4) Adjusted selling, general, and administrative 69,573 12.7 57,639 13.6 207,576 13.3 169,845 14.2 Three Months Ended September 30, Nine Months Ended September 30, (in thousands; unaudited) 2026 2025 2026 2025 Net income $ 37,228 $ 27,283 $ 112,497 $ 88,120 Equity-based compensation 6,955 4,648 19,112 13,513 Expenses associated with 2022 credit facility refinancing — — — 2,000 Acquisitions-related costs 1,209 — 1,518 — TRAs remeasurements 437 — — — Organization realignment and restructuring — 2,650 1,831 5,641 Income tax effects (1,724) (1,080) (3,949) (5,461) Adjusted net income $ 44,105 $ 33,501 $ 131,009 $ 103,813 Dutch Bros Inc.| Earnings Release | 13
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Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts; unaudited) 2026 2025 2026 2025 Weighted-average shares of Class A common stock outstanding - basic 137,941 126,986 133,230 124,751 Dilutive effects of restricted stock units 237 393 158 453 Weighted-average shares of Class A common stock outstanding - diluted 138,178 127,379 133,388 125,204 Assumed exchange of weighted-average Dutch Bros OpCo Class A common units for shares of Dutch Bros Inc. Class A common stock 39,823 50,524 44,478 52,674 Adjusted fully exchanged weighted-average shares of common stock outstanding - diluted 178,001 177,903 177,866 177,878 Net income per share of Class A common stock - diluted $ 0.20 $ 0.14 $ 0.60 $ 0.47 Controlling and non-controlling interest adjustments 0.01 0.02 0.04 0.02 Equity-based compensation 0.04 0.03 0.10 0.09 Expenses associated with 2022 credit facility refinancing — — — 0.01 Acquisitions-related costs 0.01 — 0.01 — TRAs remeasurements — — — — Organization realignment and restructurings — 0.01 0.01 0.03 Income tax effects (0.01) (0.01) (0.02) (0.03) Adjusted net income per fully exchanged share of diluted common stock $ 0.25 $ 0.19 $ 0.74 $ 0.59 Dutch Bros Inc.| Earnings Release | 14
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For Investor Relations inquiries: Neil Patel, CFA (480) 447-2282 neil.patel@dutchbros.com For Media Relations inquiries: Erin Gray (480) 382-7228 erin.gray@dutchbros.com Dutch Bros Inc.| Earnings Release | 15