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CELSIUS HOLDINGS INVESTOR PRESENTATION Q2 2026 FINANCIAL RESULTS ORIGINAL ORANGE SPARKLING BLUE RASPBERRY CELSIUS LIVE FIT ESSEN BLUE CRU NATURAL FLAVO WITH OTHER NAT STAR SYDRINK AR RO EN CELSIUS . LIVE FIT SUSTAINS MIND - BODY ENERGY SPARKLING ORANGE LAVOR WITH OTHER ESSENTIAL ENERGY ACCELERATES METABOLISM BURNS BODY FAT 0 ENERGY PL ESSENTIAL P ZERO SUGAR 16 FLOZ 1473ml 60 PROVEN AUG 6 , 2026 2 JPLOS SEBO 2neve EZZEMLIVE EMEURE AROARE SUGAR 12 FL8Z 355mL ) ORANGE KISS FLAVORED WITH OTHER NATURAL FLAVORS NERGY DRINK Alani 12 FL OZ ( 355 1
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Safe harbor & Non -gaap measures Forward-Looking Statements This presentation contains statements by Celsius Holdings, Inc. (“Celsius Holdings”, “we”, “us”, “our” or the “Company”) that are not historical facts and are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our prospects, plans, business strategy and expected financial and operational results. You can identify these statements by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” “would”, ”could”, ”project”, ”plan”, “potential”, ”designed”, “seek”, “target”, variations of these terms, the negatives of such terms and similar expressions. These statements are based on certain assumptions that we have made in light of our experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate in these circumstances. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. You should not rely on forward-looking statements because our actual results may differ materially from those indicated by forward-looking statements as a result of a number of important factors. These factors include, but are not limited to: changes to our commercial agreements with PepsiCo, Inc.; management’s plans and objectives for international expansion and global operations; general economic and business conditions; our business strategy for expanding our presence in our industry; our expectations of revenue; operating costs and profitability; our expectations regarding our strategy and investments; our ability to successfully integrate business that we may acquire, our ability to achieve the benefits that we expect to realize as a result of our acquisitions, the potential negative impact on our financial condition and results of operations if we fail to achieve the benefits that we expect to realize as a result of our business acquisitions, liabilities of the businesses that we acquire that are not known to us; our expectations regarding our business, including market opportunity, consumer demand and our competitive advantage; anticipated trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations affecting our business; the Company’s ability to comply with the rules and regulations of the Securities and Exchange Commission (the “SEC”);ongoing and potential litigation matters; the impact of third parties attempting to replicate our product attributes; and those other risks and uncertainties discussed in our most recently filed Annual Report on Form 10-K and in our other reports filed with the Securities and Exchange Commission, including our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward- looking statements speak only as of the date the statements were made. We do not undertake any obligation to update forward-looking information, except to the extent required by applicable law. Use of Non-GAAP Measures Celsius defines Adjusted EBITDA as net income before net interest (expense) income, income tax expense (benefit), and depreciation and amortization expense, further adjusted by excluding stock-based compensation expense, foreign exchange gains or losses, distributor termination fees, legal settlement costs, reorganization costs, acquisition and integration costs, penalties, and inventory step-up adjustment. Adjusted EBITDA Margin is the ratio between the company’s Adjusted EBITDA and net revenue, expressed as a percentage. Adjusted diluted earnings per share is GAAP diluted earnings per share net of add backs and deductions for distributor termination, legal settlement costs, reorganization costs, acquisitions and integration costs, penalties, and inventory step-up adjustment. Adjusted SG&A is GAAP SG&A adjusted for acquisition costs, distributor termination fees, penalties and certain legal accruals. Adjusted SG&A as a % of revenue is the ratio between Adjusted SG&A and net revenue. Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted diluted earnings per share, Adjusted SG&A, and Adjusted SG&A as a percentage of revenue are non-GAAP financial measures. Celsius uses Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted diluted earnings per share, Adjusted SG&A, and Adjusted SG&A as a percentage of revenue for operational and financial decision- making and believes these measures are useful in evaluating its performance because they eliminate certain items that management does not consider indicators of Celsius’ operating performance. Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted diluted earnings per share, Adjusted SG&A, and Adjusted SG&A as a percentage of revenue may also be used by many of Celsius’ investors, securities analysts, and other interested parties in evaluating its operational and financial performance across reporting periods. Celsius believes that the presentation of Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted diluted earnings per share, Adjusted SG&A, and Adjusted SG&A as a percentage of revenue, provides useful information to investors by allowing an understanding of measures that it uses internally for operational decision-making, budgeting and assessing operating performance. Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted diluted earnings per share, Adjusted SG&A, and Adjusted SG&A as a percentage of revenue are not recognized terms under GAAP and should not be considered as a substitute for net income or any other financial measure presented in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for analysis of Celsius’ results as reported under GAAP. Celsius strongly encourages investors to review its financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted diluted earnings per share. Adjusted SG&A, and Adjusted SG&A as percentage of revenue as defined by Celsius, may not be comparable to similarly titled measures reported by other companies. It therefore may not be possible to compare Celsius’ use of these non-GAAP financial measures with those used by other companies. Industry and Market Data Unless otherwise indicated, information contained in this presentation concerning our industry, competitive position and the markets in which we operate is based on information from independent industry and research organizations, other third-party sources and management estimates. Management estimates are derived from publicly available information released by third-party sources, as well as data from our internal research, and are based on assumptions made by us upon reviewing such data, and our experience in, and knowledge of, such industry and markets, which we believe to be reasonable, but we have not independently verified the accuracy of this information. Any industry forecasts are based on data (including third-party data), models and experience of various professionals and are based on various assumptions, all of which are subject to change without notice. In addition, projections, assumptions and estimates of the future performance of the industry in which we operate and our future performance are necessarily subject to uncertainty and risk due to a variety of factors, including those described in “Forward- Looking Statements.” These and other factors could cause results to differ materially from those expressed in the estimates made by the independent parties and by us. 2
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A LEADING portfolio of category-disrupting brands ~20% 99% $1.56B #2 #3 Q2 2026 U.S. RTD Energy Drink Market dollar Share 1 Weighted retail distribution (%acv) 1 Q2 2026 RTD ENERGY U.S. Retail Sales (+31% yOy ) 1,2 Dollar Growth P ortfolio In RTD Energy 1 RTD Energy Portfolio In the U.S. 1 31. Circ ana US MULO+ W/C , CELSIUS INC RTD ENERG Y L13W ended 6/2 8/2026 2. Includes A lani Nu retails sales since ac quisition da te of 4 /1/202 5 and Rockstar retail sales since a cquisition date o f 8/28/ 2025
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1H 2026 BEVERAGE RANKINGS Rank Parent Company $ Retail Sales (Billions) $ Retail Sales Chg. yoy (Billions) Contribution to 1H LRB Growth 1 $16.18 +$.98 21.6% 2 $13.61 -$.01 - 3 $7.57 +$.26 5.7% 4 $5.07 +$.34 7.6% 5 $4.76 +$.47 10.3% 6 $3.22 +$.58 12.7% 7 $2.80 +$.15 3.3% 8 $1.55 +$.10 2.3% 9 $1.37 +$.07 1.6% 10 $.99 +$.04 0.8% Circ ana TOTAL U.S. Bev & RTD ENERGY MULO+ W/C L26W Ending 6/28 /2026 Parent Company Rollup ; US Tra cked Retail Sales Only | Priv ate Label Exc luded WE ARE A TOP-10 beverage COMPANY 4 *Numbers are represe n t ative of f ull company Circana $ sales, inclusiv e of Weight Control Ca tegory
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CELSIUS: Powering Performance in Modern Energy PERFORMANCE F it n es s-f ir st p os it ion in g bu il t f or wor kout s an d daily m ov em e nt Function S us tain e d e n erg y , ze ro s ug ar, m et abol ism su pp o rt FLAVOR INNOVATION F ru it -f or ward, c ris p f l a v ors CONSUMER Ac t iv e, he alt h -c on sc i ous c on su me rs f uel i ng p erf orm an c e 5
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Thrives on 3 Pillars FUN Escapism, fueled by design Fans Passionate, dedicated community Shifted An Entire category #4 in Energy ALANI Nu: Igniting A new era of energy 70% Women AGE 18-44 1. Circ ana TOTAL U.S. MULO+ w/ C, RTD Energ y R52 W ending 6/14/2 026 2. Numerator survey , TTL market, L26W pe 10 /6/202 4 1 2 FLAVOR Nostalgic, INVITING , iconic 6
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2 25 years of disrupting conventional energy Powering a new era of hig h-performance lifesty les Iconic flavors and time -tested ingredients appeal ing to the next generation energy consum er ROCKSTAR: Next Generation Energy for the Core Consumer Broad Energy Category Reach ~70% m ale age 18 -44 2 Full -flav or energy for core occasions: sports, music, gaming Caters to a $17.8 billion core energy market 1 Distinct Portfolio ROLE 1. Circ ana TOTAL U.S. MULO+ w/ C, Legacy RTD Energy L5 2W Ending 12/2 8/2025 2. Celsius Consumer Studies N= 1,500 Can photo placeholder 7
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U.S. Market share1 Retail sales1 $0.55 $0.64 $0.61 $0.66 $0.73 $0.69 $0.63 $0.64 $1.19 $1.27 $1.30 $1.45 $1.56 $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 $1.60 $1.80 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Billions CELSI US PORTFOLIO RTD ENERGY SALES ACRO SS TRACKED CHA NNELS 1,2 (MULO+ W/ C | BILLIONS) 1. Circ ana US MULO+ W/C , CELSIUS INC RTD Energ y by 13W Periods 202 3-202 6 ended 6 /28/20 26 2. Includes A lani Nu retails sales since ac quisition da te of 4 /1/202 5 and Rockstar retail sales since a cquisition date o f 8/28/ 2025 Acquired Alani Nu Acquired Rockstar Energy A Leader in Modern Energy Innovation Q2 2026 Di srupting the energy category with trusted, better -fo r-yo u functi ona l beverages that fi t ho w people li ve today. YOY Growth1,2 ~20% $1.56B +31% 8
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1 2 3 C E L S I U S H O L D I N G S , I N C . | C A G N Y I N V E S T O R P R E S E N TA T I O N 4 5 We operate in a rapidly growing category We are capitalizing on evolving consumer trends that are driving increased demand We have a leading total energy portfolio that is positioned to win We have an evolved, scaled operating model We Believe we are well positioned for continued growth & improving profitability WHY CELSIUS HOLDINGS 9
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Proven growth strategy with disciplined execution PLACES OFTENPEOPLE Executing our growth strategy in an evolved way MORE MORE MORE 10 The FDA recommends healthy adults consume no more than 400mg of caffeine per day.
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Disciplined Expansion Into Leading Global Markets Total Energy Drink Category Market Size By Country (USD)1 US $ 2 8 . 5 b i l l i o n B r i ta i n $ 2 . 7 9 b i l l i o n A u st r a l i a $ 2 . 0 6 b i l l i o n F r a nc e $ 9 4 5 m i l l i o n Ne th e r l a nd s $ 7 9 0 m i l l i o n B el gi u m $ 3 4 0 m i l l i o n C a na d a $ 7 2 3 m i l l i o n S pa i n $ 5 9 1 m i l l i o n S w ed e n $ 5 8 8 m i l l i o n Ne w Zea l a nd $ 3 1 7 m i l l i o n I r el a nd $ 2 6 8 m i l l i o n P o r tu g a l $ 5 5 M i l l i o n 11 Market1 All Data is L52W End 3/22/2026 USA Circana total u s energy drink s c ategor y m ulo+ w/ co nvenience, L52w end 3 /22/ 202 6 Ireland Nielsen IE_Tot S cantr ack GB Nielsen GB_Tot C ov NED Nielsen Total Super mar kten Excl. Ta nks tatio ns + Ta nk statio ns Belgium Nielsen Discou nters, P rox im ity + D rug , Super mar kets Fra nce Nielsen HM SM + PROX I + D RIVE + SDM P Spa in Nielsen HIPER+ SUPER +INDEP +EESS+O NLINE Po rtuga l Nielsen POR TUGA L MA RK E TTR ACK Sweden Nielsen Gro cery & Service Tra de Canada Nielsen Gro cery Banner , Mass M e r cha ndiser, D rug , C onvenience & G as B anner Au stralia Circana Austr alia Gr ocery & Convenience MA T New zea land circana New Zeala nd Gro cery & C onvenience M AT
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12 Q2 2026 key messages 1 Delivered double -digit Q2 revenue growth, driven by strong Alani nu growth and contributions from rockstar energy, partially offset by portfolio optimization within the Celsius brand. 2 Completed the integration of rockstar energy and continued to scale Alani Nu. 3 Strengthening assortment productivity and execution to drive sustainable growth for brand Celsius. 4 PORTFOLIO INCLUDES Two Billion -dollar brands, representing one in five energy drinks sold in THE U.S. 5 We believe that Disciplined international 1 expansion represents A significant growth opportunity, expected to rise to 15%+ of total revenue by 2031. 1. Revenue generated outside of the United States
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Q2 2026 financial Results Summary Financials (millions except for percentages & EPS) Q2 2026 Q2 2025 Change 1H 2026 1H 2025 Change Revenue $817.9 $739.3 11% $1600.5 $1,068.5 50% North America $790.7 $714.5 11% $1538.0 $1,021.0 51% International $27.2 $24.8 10% $62.5 $47.5 32% Gross Marg in 48.1% 51.5% -340 BPS 48.2% 51.8% - 356 BPS Net Income $55.3 $99.9 -45% $165.4 $144.3 15% Net Income att. to Com mon Shareholders $36.4 $85.7 -57% $121.4 $119.9 1% Diluted EPS $0.14 $0.33 -58% $0.47 $0.48 -2% Adjusted Diluted EPS $0.36 $0.47 -23% $0.77 $0.65 19% Adjusted EBITDA $184.2 $210.3 -12% $379.6 $280.0 36% 13
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14 Energy mulo+w/c dollar share 1. Circ ana Total US MULO+ W/C dollar share of RTD Energy by q uarter ended 6/28/ 2026 2. Includes Alani Nu retails sales si nc e acqui sition date of 4/1 /25 and Roc kstar retail sales sinc e acqui sition date of 8/2 8/2025 14 38.9 37.2 36.0 35.7 35.1 34.9 34.7 34.4 34.1 33.0 33.0 33.9 32.6 32.2 36.9 36.7 35.9 36.2 35.6 36.2 36.4 37.5 37.0 36.7 35.0 34.7 34.6 34.4 8.1 9.6 11.1 11.3 12.2 12.2 11.7 10.9 10.8 17.2 20.7 19.8 21.0 20.1 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 TOP 3 RTD ENERGY PORTFOLIO $ SHARE OF MULO+ W/C BY QUARTER 2023 -PRESENT 1,2 MONSTER (PORTFOLIO) RED BULL CELH (PORTFOLIO)
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CELSIUS HOLDINGS Consolidated revenue 1. Ac quired Alani Nu 4/1/20 25 2. Acqui red Rockstar Energy in U.S. a nd Canada8/2 8/2025 $311M $371M $333M $340M $382M $247M $312M $307M $714M $702M $700M $747M $791M $15M $14M $15M $16M $20M $19M $20M $23M $25M $23M $22M $35M $27M $0M $100M $200M $300M $400M $500M $600M $700M $800M $900M Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2023 2024 2025 2026 North America International 15
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1. Figures represent unaudited management es timates. 2. Circana US MULO+ W /C, CELSI US INC RTD Energy by 13W Period ended 6/28/2026 versus prior year period 3. Contra revenue includes multiple inputs, including, but not limited to: dsd incentives, slot ti ng fees, promotional spend, mixing center fees, compliance fees and discounts 4. During the second quarter of 2026, year-over-year grow th in orders trailed Circana scan growth by approximately 7 percentage points , primarily reflecting inventory rebalancing within the DS D dis tribution network. 5. Other includes otg powders are not tracked as a part of mulo+ w/c rtd energy. 6. INTERNATIONAL Figures INCLUDE CANADA and wi ll di ffer from the figure presented in the press release 16 CELSIUS Q2 2026 Revenue WALK 32 4 5 6 -12% 1
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1.Figures represent unaudited management es timates. 2.The 301M Q2 2025 revenues included revenue from Canada as w ell as non-rtd energy revenues . I n order to have a proper baseline com parison these revenues are removed i n order to obtai n the us rtd energy sales figure to compare to the scanner data. 3.Scanner growth Includes Alani Nu retails sales PER Circana Tot al US MULO+ W/C for the 13 w eeks ending 6/28/2026 of +56%. This was partially offset by a higher mix into dsd as w ell as by the pepsi captaincy amortization of approximately $9M, resulting in ye ar over year us rtd energy growth of 28% in the reported results. Q2 2026 Canada and non us rtd energy is then added i n to get the reported combined results for alani sales of $364 million. 17 Alani Nu Q2 2026 Revenue WALK 1 3 3 3 3 3 3 22 2 2
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18 Alani Nu Q2 Y/Y Revenue content US RTD Energy Canada RTD Energy Non RTD Energy Q2 2025 Alani Nu revenue content US RTD Energy Canada RTD Energy Non RTD Energy Q2 2026 Alani Nu revenue content 4.2% 8.3 % 87.5% 3.8% 3.3% 92.9%
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Gross profit margin & Adjusted Ebitda Margin PERCENTAGES REPRESENT QUARTERLY PERCENTAGE OF REVENUE NOTE 1. For G AAP to no n-GAA P Adjusted EBITDA schedules for previous quarters, refer to prior investor presentations a ccessible a t h ttp s://ir. celsi usholdingsinc. com 0% 10% 20% 30% 40% 50% 60% GROSS PROFIT MARGIN ADJ EBITDA MARGIN Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 51.5% 28.4% 25.0% 28.4% 18.6% 51.3% 47.4% 48.3% 19 22.5% 48.1%
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non-gaap ebitda schedule (Figures in thousands) Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 Net income (GAAP measure) 55,293 99,855 165,392 144,274 Add back/(Deduct): Net interest income (expense) 7,888 14,042 16,739 6,196 Provision for income taxes 14,237 29,610 41,674 46,184 Depreciation and amortization expense 10,104 9,119 19,238 11,730 Non-GAAP EBITDA 87,522 152,626 243,043 208,384 Stock-based compensation 1 10,565 6,434 18,191 11,463 Foreign exchange 1,396 (800) 988 (1,720) Reorganization Costs — 482 — 482 Acquisition & Integration Costs 2 3,819 29,855 7,573 38,967 Penalties3 — — — 710 Inventory step-up adjustment — 21,692 — 21,692 Distributor Termination4 80,860 — 85,287 — Legal Settlement Costs5 — 24,557 — Non-GAAP Adjusted EBITDA 184,162 210,289 379,639 279,978 Non-GAAP Adjusted EBITDA Margin 22.5 % 28.4 % 23.7% 26.2% 1 Selling, general and administrative expenses related to employee non-cash stock-based compensation expense. Stock-based compensation expense consists of non-cash charges for the estimated fair value of unvested restricted share unit granted to our employees and directors and the discount provided under the employee stock purchase plan. The Company believes that the exclusion provides a more accurate comparison of operating results and is useful to investors to understand the impact that stock- based compensation expense has on its operating results. 2 Fees and professional services related to acquisition and integration activity. 3 Accrued expense for the quarter ended March 31, 2025, related to contractual co-packer obligations. 4 Distributor termination expense. 5 2026 accrued expense for estimated liability in connection with certain ongoing litigation for the quarter ended March 31, 2026. 20
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non-gaap eps schedule Three months ended Six months ended June 30, June 30, 2026 2025 2026 2025 Diluted Earnings per share (GAAP measure) $0.14 $0.33 $0.47 $0.48 Add back/(Deduct) 1: Acquisition and Integration Costs 2 $0.01 $0.08 $0.02 $0.11 Distributor Termination 3 $0.21 — $0.22 — Legal Settlement Costs 4 — — $0.06 — Inventory step-up adjustment — $0.06 — $0.06 Adjusted Diluted Earnings per share $0.36 $0.47 $0.77 $0.65 1 Add backs and deductions are net of their respective impacts from tax and reallocation of earnings to participating securities The total tax effect of the adjusted items for the six months ended June 30, 2026 was $(0.22) per diluted share and for the six months ended June 30, 2026 was $(0.30), which includes the tax effect of deductible acquisition costs, distributor termination, and legal settlement costs. Tax effects are determined based on the tax treatment of the related item, the incremental statutory rate of the jurisdictions pertaining to the adjustment, and their effects on pre- tax income (loss). 2 Fees and professional services related to acquisition activity. 3 Distributor termination expense. 4 2026 accrued expense for estimated liability in connection with certain ongoing litigation for the quarter ended March 31, 2026. 21