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INVESTOR PRESENTATION F E B R U A R Y 2 0 2 6 W E C O N N E C T A C T I V E P E O P L E W I T H T H E I R P A S S I O N S
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FORWARD -LOOKING STATEMENTS This presentation does not constitute an offer or invitation for the sale or purchase of securities and has been prepared solely for informational purposes . This presentation contains forward -looking statements within the meaning of the federal securities laws regarding Columbia Sportswear Company’s business opportunities and anticipated results of operations . Forward -looking statements generally relate to future events or our future financial or operating performance . In some cases, you can identify forward -looking statements because they contain words such as “may,” “might,” “will,” “would,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “likely,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions . Unless the context indicates otherwise, the terms "we," "us," "our," "the Company," and "Columbia" refer to Columbia Sportswear Company, together with its wholly owned subsidiaries and entities in which it maintains a controlling financial interest . The Company's expectations, beliefs and projections are expressed in good faith and are believed to have a reasonable basis ; however, each forward -looking statement involves a number of risks and uncertainties, including those set forth in this document, those described in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q under the heading "Risk Factors," and those that have been or may be described in other reports filed by the Company, including reports on Form 8-K. Potential risks and uncertainties that may affect our future revenues, earnings and performance and could cause the actual results of operations or financial condition of the Company to differ materially from the anticipated results expressed or implied by forward -looking statements in this document include : loss of key customer accounts ; our ability to execute the ACCELERATE Growth Strategy ; our ability to execute and realize costs savings related to our Profit Improvement Plan ; our ability to effectively execute our business strategies, including initiatives to upgrade our business processes and information technology (“IT”) systems and investments in our direct -to-consumer (“DTC”) businesses ; our ability to maintain the strength and security of our IT systems ; the effects of unseasonable weather, including global climate change ; the seasonality of our business and timing of orders ; trends affecting consumer spending, including changes in the level of consumer spending, and retail traffic patterns ; unfavorable economic conditions generally, the financial health of our customers and retailer consolidation ; higher than expected rates of order cancellations ; changes affecting consumer demand and preferences and fashion trends ; changes in international, federal or state tax, labor and other laws and regulations that affect our business, including changes in corporate tax rates, tariffs, international trade policy and geopolitical tensions, or increasing wage rates ; our ability to attract and retain key personnel ; risks inherent in doing business in foreign markets, including fluctuations in currency exchange rates, global credit market conditions, changes in global regulation and economic and political conditions and disease outbreaks ; volatility in global production and transportation costs and capacity and timing ; our ability to effectively manage our inventory and our wholesale customers' to manage their inventories ; our dependence on third -party manufacturers and suppliers and our ability to source at competitive prices from them or at all ; the effectiveness of our sales and marketing efforts ; business disruptions and acts of terrorism, cyber -attacks or military activities around the globe ; intense competition in the industry ; our ability to establish and protect our intellectual property ; and our ability to develop innovative products . The Company cautions that forward -looking statements are inherently less reliable than historical information . New risks and uncertainties emerge from time to time and it is not possible for the Company to predict all risks and uncertainties that could have an impact on the forward -looking statements contained in this presentation . Nothing in this presentation should be regarded as a representation by any person that the forward -looking statements set forth herein will be achieved or that any of the contemplated results of such forward -looking statements will be achieved . You should not place undue reliance on forward -looking statements, which speak only as of the date they are made . We do not undertake any duty to update any of the forward -looking statements after the date of this document to conform the forward -looking statements to actual results or to changes in our expectations .
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REFERENCES TO NON -GAAP FINANCIAL INFORMATION Since Columbia Sportswear Company is a global company, the comparability of its operating results reported in U.S. dollars is affected by foreign currency exchange rate fluctuations because the underlying currencies in which it transacts change in value over time compared to the U.S. dollar . To supplement financial information reported in accordance with GAAP, the Company discloses constant -currency net sales information, which is a non-GAAP financial measure, to provide a framework to assess how the business performed excluding the effects of changes in the exchange rates used to translate net sales generated in foreign currencies into U.S. dollars . The Company calculates constant -currency net sales by translating net sales in foreign currencies for the current period into U.S. dollars at the average exchange rates that were in effect during the comparable period of the prior year . Management believes that this non-GAAP financial measure reflects an additional and useful way of viewing an aspect of our operations that, when viewed in conjunction with our GAAP results, provides a more comprehensive understanding of our business and operations . Free cash flow is a non-GAAP financial measure . Free cash flow is calculated by reducing net cash flow from operating activities by capital expenditures . Management believes free cash flow provides investors with an important perspective on the cash available for shareholders and acquisitions after making the capital investments required to support ongoing business operations and long -term value creation . Free cash flow does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures . Management uses free cash flow as a measure to assess both business performance and overall liquidity . Non-GAAP financial measures, including constant -currency net sales and free cash flow, should be viewed in addition to, and not in lieu of or superior to, our financial measures calculated in accordance with GAAP . The Company provides a reconciliation of non-GAAP measures to the most directly comparable financial measure calculated in accordance with GAAP in the back of this presentation in the “Appendix” . The non-GAAP financial measures and constant -currency information presented may not be comparable to similarly titled measures reported by other companies .
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ACCELERATE PROFITABLE GROWTH CREATE ICONIC PRODUCTS Differentiated, Functional, Innovative DRIVE BRAND ENGAGEMENT Increased, Focused Demand Creation Investments ENHANCE CONSUMER EXPERIENCES Invest in Capabilities to Delight and Retain Consumers AMPLIFY MARKETPLACE EXCELLENCE Digitally-Led, Omni-Channel, Global EMPOWER TALENT THAT IS DRIVEN BY OUR CORE VALUES Through a Diverse and Inclusive Workforce W E C O N N E C T A C T I V E P E O P L E W I T H T H E I R P A S S I O N S
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W E C O N N E C T A C T I V E P E O P L E W I T H T H E I R P A S S I O N S 05 FORTRESS BALANCE SHEET DISCIPLINED CAPITAL ALLOCATION STRATEGY 01 MULTI-GENERATIONAL FAMILY STEWARDSHIP TENURED MANAGEMENT TEAM 02 DIFFERENTIATED BRAND PORTFOLIO ICONIC PRODUCTS 03 LONG-TERM FINANCIAL PERFORMANCE OVERALL PROFITABLE GROWTH SINCE 1998 IPO 04 DIVERSIFIED BUSINESS MODEL GROWTH OPPORTUNITIES
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01 “IT’S PERFECT, NOW MAKE IT BETTER .” OUR FOUNDER, GERT BOYLE, WAS ONE TOUGH MOTHER . AT A TIME WHEN FEW WOMEN HEADED UP CORPORATIONS, SELF- PROCLAIMED HOUSEWIFE GERT TURNED A STRUGGLING FAMILY BUSINESS INTO THE POWERHOUSE IT IS TODAY . HER LEGACY OF STRENGTH, TENACITY, WIT, AND UNAPOLOGETIC PERFECTIONISM LIVES ON IN EVERYTHING WE DO. KEEPING YOU OUTDOORS SINCE 1938 BOYLE FAMILY LEGACY
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LEADERSHIP TEAM01 TIM BOYLE Chairman & CEO PETER BRAGDON President LISA KULOK EVP, Chief Supply Chain Officer RICHELLE LUTHER EVP, Chief Administrative Officer & General Council JIM SWANSON EVP, Chief Financial Officer Craig Zanon EVP, Europe -direct, Asia -direct & Emerging Brands CORY LONG President, SOREL Brand TRICIA SHUMAVON President, prAna TROY SICOTTE President, Mountain Hardwear JOE BOYLE President, Columbia Brand ~20 Years at CSC ~20 Years at CSC ~15 Years at CSC ~15 Years at CSC~20 Years at CSC ~4 Years at CSC ~50 Years at CSC ~1 Year at CSC ~1 Year at CSC~6 Years at CSC
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DIFFERENTIATED BRAND PORTFOLIO02 Founded in 1938, our Columbia brand's mission is to unlock the outdoors for everyone. Our Columbia brand offers authentic, high -value outdoor apparel, footwear, accessories and equipment products suited for hiking, trail running, snow, and fishing and hunting activities, as well as everyday outdoor activities. Acquired in 2000, our SOREL brand has evolved from a men's utility boot brand into a contemporary lifestyle brand bringing style to the outdoors. Our SOREL brand leverages its rich heritage, innovation and style to offer distinct, compelling, and unexpected footwear to consumers around the world. Acquired in 2003, our Mountain Hardwear brand's mission is to encourage and equip people to seek a wilder path in life. With over 30 years of wild wisdom, our Mountain Hardwear brand continues to offer essential, premium apparel, accessories and equipment products for climbers, mountaineers, skiers, snowboarders, and trail athletes. Acquired in 2014, our prAna brand's mission is to celebrate the spirit of adventure and discovery, encouraging individuals to pursue their passions inspired by an active California lifestyle. Our prAna brand offers apparel and accessories that blend style and versatility for individuals who embrace movement and have a deep reverence for nature.
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From 1998 – 2025, COLM generated an 8% net sales and 8% EPS CAGR* DILUTEDEPSNET SALES *CAGR (compound annual growth rate) is calculated using the formula : (Ending Value/Beginning Value)^( 1/number of years) -1 LONG -TERM TRACK RECORD OF PROFITABLE GROWTH03
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DIVERSIFIED BUSINESS MODEL04 2025 NET SALES BREAKDOWN United States ("U .S.") Latin America and Asia Pacific ("LAAP") Europe, Middle East and Africa ("EMEA") Canada (“CAN .”) Direct -to-consumer - DTC DTC B&M – DTC brick & mortar DTC .com – DTC e-commerce BRAND CATEGORY CHANNELGEOGRAPHY DIVERSIFIED BUSINESS MODEL
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GROWTH ACCELERATORS04 FOOTWEAR INTERNATIONAL DIGITAL SOREL COLUMBIA EUROPE -DIRECT CHINA INTERNATIONAL DISTRIBUTOR REGIONS DTC.COM WHOLESALE.COM
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DIVERSIFIED BUSINESS MODEL LAAP 17% U.S. 61% CAN. 7% EMEA 15% COLUMBIA 87% FORTRESS BALANCE SHEET & DISCIPLINED CAPITAL ALLOCATION05 DEPENDENT UPON OUR FINANCIAL POSITION, MARKET CONDITIONS AND OUR STRATEGIC PRIORITIES, OUR CAPITAL ALLOCATION APPROACH INCLUDES: INVEST IN ORGANIC GROWTH OPPORTUNITIES RETURN AT LEAST 40% OF FREE CASH FLOW TO SHAREHOLDERS OPPORTUNISTIC M&A TO DRIVE LONG -TERM PROFITABLE GROWTH THROUGH DIVIDENDS AND SHARE REPURCHASES OUR GOAL IS TO MAINTAIN OUR STRONG BALANCE SHEET AND DISCIPLINED APPROACH TO CAPITAL ALLOCATION. BALANCE SHEET AS OF DECEMBER 31, 2025 ~$791M CASH & SHORT -TERM INVESTMENTS: NO BANK BORROWINGS OPERATING CASH FLOW COMPARED TO SHARE REPURCHASES AND DIVIDENDS
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B R A N D P O R T F O L I O
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UNLOCK THE OUTDOORS FOR EVERYONE OUR MISSION #1 OUTDOORS BRAND IN THE WORLD OUR VISON
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ACCELERATE GROWTH STRATEGY M A R K E T P L A C ECreate elevated omni-channel brand experiences Maintain outlet and value-oriented wholesale distribution Activate brand and product strategies by elevating the position of the Columbia brand in the U.S. marketplace P R O D U C TEmphasize innovation and style Deliver durable high-value products Streamline assortment with fewer, more powerful collections with clear purpose B R A N D C O N S U M E R Fuel Our Growth Strengthen our Core Elevate consumers’ perception of the Columbia brand Refreshed creative strategy that brings Columbia’s unique brand personality to life Deliver growth with new consumers Bring new younger, active consumers into the brand Steward core consumer segments Continue to serve existing consumers with accessible outdoor essentials M A R K E T I N G Deliver integrated full-funnel marketing Higher and more efficient demand creation spending ,with more creative and immersive ways to experience the brand ACCELERATE is a consumer -centric growth strategy intended to elevate the Columbia brand to attract younger and more active consumers . It is a multi -year initiative centered around several consumer -centric shifts to our brand, product and marketplace strategies, as well as enhanced ways of working . 2025 was an important milestone in this journey . The Columbia brand launched its new brand platform “Engineered for Whatever” through a global brand campaign in print, on social, and in-person . The Columbia brand also released certain new products designed with a younger, more active consumer in mind, and re-launched the U.S. Columbia .com website, with enhanced features and photography . We’re encouraged with early indicators, which signal that our differentiated marketing communications and enhanced products are resonating with consumers, providing us confidence as we plan for future seasons . Accelerate Growth Strategy
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AT COLUMBIA WE DON’T JUST DESIGN OUR CLOTHES, WE ENGINEER THEM. WE HAVE YOU COVERED. BECAUSE WE’RE…
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ACCELERATING THE COLUMBIA BRAND COLUMBIA’S CHANGE OPPORTUNITY
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PROTECTED COOL DRY WARM SUSTAINABLE AWARD WINNING DIFFERENTIATED INNOVATION
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COLUMBIA FOOTWEAR EVERY SURFACE IS A TRAIL FAST VERSATILE RUGGED MAY 2025
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ELEVATING RETAIL
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ELEVATING COLUMBIA.COM
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GROWING INTERNATIONAL PRESENCE
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M O U N T A I N H A R D W E A R I B R A N D P R E S E N T A T I O N
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M O U N T A I N H A R D W E A R I B R A N D P R E S E N T A T I O N
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We’re prAna, an Active Lifestyle brand inspired by the adventurous spirit of our Southern California home.
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F I N A N C I A L O V E R V I E W
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CATEGORY PERFORMANCE REGIONAL PERFORMANCE BRAND PERFORMANCE +1% CANADA $230 MILLION -4% U.S. $1,979 MILLION +13% EMEA $577 MILLION +9% LAAP $611 MILLION AS REPORTED: +2% $2,973 MILLION -7% $221 MILLION -1% $103 MILLION -8% $100 MILLION NET SALES VS. PRIOR YEAR: FULL YEAR 2025 FINANCIAL RESULTS TWELVE MONTHS ENDED DECEMBER 31, 2025 NET SALES AND GROWTH VS. PRIOR YEAR CONSTANT -CURRENCY :* U.S. -4% LAAP + 10% EMEA +10% CANADA +4% *Non -GAAP measure. For additional information regarding this non -GAAP financial measure, see the disclosures and reconciliations included in the Appendix of this presentation. APPAREL, ACCESSORIES & EQUIPMENT: $2,712 MILLION +1% FOOTWEAR: $685 MILLION +1%
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FULL YEAR 2025 GLOBAL RESULTS TWELVE MONTHS ENDED DECEMBER 31, 2025 $3,397M +1% NET SALES 50.5% +30 bps GROSS MARGIN 6.1% -190 bps OPERATING MARGIN $3.24 -15% DILUTED EPS GROWTH AND PERCENTAGE METRICS ARE YEAR -OVER -YEAR METRICS, COMPARING FULL YEAR 2025 TO FULL YEAR 2024 .
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A P P E N D I X
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FULL YEAR 2025 CONSTANT -CURRENCY RECONCILIATION
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FULL YEAR 2025 FREE CASH FLOW RECONCILIATION