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Net leverage ratio as of Q2 2026 was 3.1x Reconciliation of LTM Q2 Fiscal 2026 Net Income and Debt Agreement Adjusted EBITDA Six months Twelve months Driven Brands ( $ thousands ) Net income from continuing operations Income tax expense / ( benefit ) Interest expense , net Depreciation and amortization EBITDA Acquisition related costs ( a ) Six months ended 27 - Dec - 25 ended 27 - Jun - 26 $ 102,133 $ 61,105 ended 27 - Jun - 26 $ 163,238 ( $ thousands ) 27 - Jun - 26 Total Debt $ 1,685,175 ( 26,426 ) 23,180 ( 3,246 ) 53,790 44,243 98,033 Less : Cash and cash 183,947 42,418 43,488 85,906 equivalents $ 171,915 $ 172,016 $ 343,931 Net Debt $ 1,501,227 646 288 934 Non - core items and project costs , net ( b ) 19,484 4,003 23,487 Debt Agreement Adjusted EBITDA 488,947 Cloud computing amortization ( c ) 11,867 10,635 22,502 Net Leverage Ratio 3.1x Share - based compensation expense ( d ) 9,156 11,449 20,605 Foreign currency transaction loss ( gain ) , net ( e ) ( 5,585 ) 10,142 4,557 Impairment , ( gain ) loss on sale of assets , net , and closed store expenses ( f ) 18,952 Loss on debt extinguishment ( 9 ) 5,392 733 1,820 19,685 7,212 Adjusted EBITDA $ 231,827 $ 211,086 $ 442,913 Pro forma EBITDA adjustments ( h ) 1,140 Run rate adjustments related to store opening and closings ( ) 10,693 Restatement costs ( ) 20,863 Other adjustments permitted under Debt Agreement Debt Agreement Adjusted EBITDA 13,337 $ 488,947 1
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2 Notes: a. Consists of acquisition costs as reflected within the consolidated statements of operations, including legal, consulting and other fees, and expenses incurred in connection with acquisitions completed during the applicable period, as well as inventory rationalization expenses incurred in connection with acquisitions. As acquisitions occur in the future, we expect to incur similar costs and, under U.S. GAAP, such costs relating to acquisitions are expensed as incurred and not capitalized. b. Consists of discrete items and project costs, including third-party professional costs associated with strategic transformation initiatives as well as non-recurring payroll- related costs and non-ordinary course legal reserves and settlements. c. Includes non-cash amortization expenses relating to cloud computing arrangements. d. Represents non-cash share-based compensation expense. e. Represents foreign currency transaction (gains) losses, net that primarily related to the remeasurement of the intercompany loans as well as gains and losses on cross- currency swaps. f. Consists of the following items (i) asset impairments; (ii) losses, net on sale leasebacks, disposal of assets, including assets held for sale, or sale of business; and (iii) closed store expenses. g. Represents charges incurred related to the Company’s partial repayment of the 2020-1 Senior Notes and full repayment of the Term Loan Facility, 2019-2 Senior Notes, and 2022-1 Senior Notes. h. Represents our estimate of our anticipated annual operating results, including, without limitation, our estimates of the contribution of businesses acquired or sold as if such acquisitions or sales had occurred on the first day of the twelve-month period ended June 27, 2026. i. Represents our estimate of our anticipated annual operating results from new store openings and store closings annualized as if such store openings and store closings had occurred on the first day of the twelve-month period ended June 27, 2026. j. Consists primarily of third-party services associated with the Company’s restatement and accounting transformation activities. Net leverage ratio as of Q2 2026 was 3.1x