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PERFORMANCE BRANDS Second Quarter 2026 Financial Results Call
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2 Disclaimer Certain statements in this presentation may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward- looking statements generally relate to future events or Holley’s future financial or operating performance. For example, projections of future revenue and adjusted EBITDA and other metrics, along with statements regarding the impact of portfolio rebalancing efforts and organizational changes, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “or” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Holley and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: 1) Holley’s ability to execute our business strategy, including monetization of services provided and expansions in and into existing and new lines of business and successfully exiting non-core, low profit businesses; 2) Holley’s ability to compete effectively in our market; 3) Holley’s ability to successfully design, develop, and market new, effective, and safe products and platforms; 4) Holley’s ability to respond to changes in vehicle ownership and type; 5) Holley’s ability to maintain and strengthen demand for our products; 6) Holley’s ability to grow and effectively manage our growth; 7) Holley’s ability to attract new customers in a cost-effective manner and to expand into additional consumer markets; 8) Holley’s ability to successfully complete and integrate acquisitions or achieve the expected synergies from such acquisitions; 9) Holley’s ability to maintain relationships with customers and suppliers; 10) Holley’s ability to retain our management and key employees; 11) costs related to Holley being a public company; 12) disruptions to Holley’s operations, including as a result of cybersecurity incidents; 13) changes in applicable laws or regulations; 14) the outcome of any legal proceedings that have been or may be instituted against Holley; 15) general economic and political conditions, including the current macroeconomic environment, political tensions, and war (including the conflict in Ukraine, the conflict in the Middle East, and the possible expansion of such conflicts and potential geopolitical consequences); 16) the possibility that Holley may be adversely affected by other economic, business, and/or competitive factors, including recent events affecting the financial services industry (such as the closures of certain regional banks); 17) Holley’s estimates of its financial performance (e.g., the successful execution of cost saving initiatives); 18) Holley’s ability to anticipate and manage through disruptions and higher costs in manufacturing, supply chain, logistical operations, and shortages of certain company products in distribution channels; 19) Holley's ability to anticipate, manage, and mitigate the impact of changing trade policies, including tariffs; 20) disruptions and costs associated with doing business in certain countries; 21) Holley’s ability to adopt and react to risks posed by new technology; 22) inability to predict how products will ultimately be used; 23) Holley's ability to anticipate and manage through the impact of elevated interest rate levels, which cause the cost of capital to increase, as well as respond to inflationary pressures; and 24) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Annual Report on Form 10-K for the year ended December 31, 2025 filed with the U.S. Securities and Exchange Commission (“SEC”) on March 16, 2026, and disclosed in any subsequent filings with the SEC. Although Holley believes the expectations reflected in the forward-looking statements are reasonable, nothing in this presentation should be regarded as a representation by any person that the forward-looking statements or projections set forth herein will be achieved or that any of the contemplated results of such forward looking statements or projections will be achieved. There may be additional risks that Holley presently does not know or that Holley currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Holley undertakes no duty to update these forward-looking statements, except as otherwise required by law. Included in this Presentation are certain financial measures that are not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”) that are designed to supplement, and not substitute Holley's financial information presented in accordance with GAAP, including, but not limited to, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Credit Agreement Total Leverage Ratio (the “Leverage Ratio”), Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow. The non-GAAP measures as defined by Holley may not be comparable to similar non-GAAP measures presented by other companies. The presentation of such measures, which may include adjustments to exclude non-recurring items, should not be construed as an inference that Holley's future results, cash flows, or leverage will be unaffected by other nonrecurring items. Refer to information about the non-GAAP measures contained in this Presentation. This Presentation also includes forward-looking estimates of Adjusted EBITDA and Year-end Credit Agreement Total Leverage Ratio as part of our financial guidance. We do not reconcile these non-GAAP measures for future periods to their most comparable GAAP measures due to the uncertainty and potential variability of reconciling items. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide a reconciliation of these non-GAAP measures without unreasonable effort. Forward- looking estimates of Adjusted EBITDA and Year-end Credit Agreement Total Leverage Ratio are estimated in a manner consistent with the relevant definitions and assumptions noted herein. 2
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3 Presenter: Anthony Rozmus Investor Relations Matthew Stevenson President & CEO Jesse Weaver CFO Group Matthew Stevenson President & CEO Agenda • Introductions & Forward-Looking Statements • Results and Highlights • Q2 Financial Results • Q&A • Outlook 3
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4 4 Matthew Stevenson President and CEO Results and Highlights 4
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5 • Delivered 3.2% reported net sales growth, with 3 of 4 divisions achieving double-digit YoY core growth. • Core net sales grew ~4.9%, excluding divestitures through our portfolio rebalancing initiative. • 27 brands delivered growth across both DTC and B2B channels. • Generated ~$41 million of free cash flow and remain on track for year-end leverage below 3.5x. • Long-term Strategic initiatives drove $13.4 million in revenue and $8.3 million in cost savings. • Realigned marketing to strengthen consumer engagement and brand activation. • Repurchased ~$2 million of shares, reinforcing confidence in our long-term value creation. • Continued portfolio rebalancing through the divestiture of select non-core restoration brands. • Reduced debt by an additional $15 million, bringing total debt reduction to $115 million since Sept ’23 • Well positioned for H2 2026 with new retail placements and a strong product launch pipeline. 2nd Quarter Highlights and Recent Events 5
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6 Q2 Financial Results & Ongoing Business Highlights 2026 Q2 Results Business Highlights Operational Excellence in Q2 Revamped Marketing and Brand Activation Strategy Along with many more! New Products Recently Launched Across Divisions In Completed/Implemented Projects related to Purchase Savings and Tariff Reductions in Q2 $5.0M $3.3M In Q2 Operational Improvements M62 Bandit M52 RA010 2026 Q2 Results Net Sales $172.0 M 4.9% vs. PY1 Gross Margin 41.0% (72) bps vs. PY Free Cash Flow2 $40.9 M $5.2M vs. PY Adjusted EBITDA Margin2 19.6% (223) bps vs. PY 1) Core Growth Rate excludes Sales of Divested Businesses as part of the Portfolio Rebalancing Initiative 2) Non-GAAP measure. Please see the GAAP to Non-GAAP reconciliation in the Appendix to this presentation
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7 Q2 Core Growth1 in 3 of 4 Divisions and Key Brands Strategic Division Alignment, Prioritization and Accountability Underpinning Double Digit Core Growth In Three Of Four Divisions. 10.0% 5.4% 21.5% 13.3% (2.1)% 13.8%13.1%15.7% 1) Core Growth Rate excludes Sales of Divested Businesses as part of the Portfolio Rebalancing initiative
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8 Long-term Strategic Framework GREAT Place to Work Premier CONSUMER Journey Trailblazing Trusted PARTNER DELIVER Results GLOBAL Expansion & NEW Markets Transformational M&A FUND the Growth Product INNOVATION & Portfolio Management
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9 2026 - Full Throttle Forward - Select Examples Initial 2026 target: deliver more than 4% net sales growth and more than $15 million in cost savings through top-priority initiatives.
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10 • International strategy generated approximately $760K of incremental Q2 revenue through distributor growth and global expansion. • OE Dealer Channel & Bailment Programs driving growth with new customer wins and new dealers coming on-board • Product Innovation drove ~$4.5M in revenue in the quarter led, once again, by strong performances in Safety and Racing and Modern Truck and Off-Road. Long-term Strategic Initiative Tracker | Q2 Pillar DetailsKey Metric Trailblazing Trusted PARTNER • B2B Account performance for mid-size customers remained balanced and healthy with a broad number of customers contributing over $1M in the first half. • National Retailer growth driven by planogram wins, expanded SKU distribution and stronger online traffic conversion. + $1.5M Premier CONSUMER Journey Product INNOVATION & Portfolio Management GLOBAL Expansion & NEW Markets + $1.6M FUND the Growth • Purchasing savings and tariff reductions ~$5.0M in completed / implemented projects in Q2 • Operational improvements contributed ~$3.3M in for Q2 + $8.3M + $4.5M • DTC Channel driven by June YoY growth of ~17% in Modern and Off-Road. • 3rd Party Marketplaces 25%+ YoY led by strength across all divisions. Strategic framework drove $13.4M in revenue from key initiatives and achieved $8.3M in cost savings in Q2. + $1.1M Transformational M&A • HRX Revenue Contribution of ~$4.7M in Q2. + $4.7M
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11 Portfolio Rebalance to Accelerate Value Creation Exiting Low-Performers -> Investing in High-Growth Businesses-> Increasing EBITDA & paying Down Debt.
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12 Sharpening the Portfolio & Lowering Operating Costs A simpler, more focused portfolio with stronger growth, higher margins, improved free cash flow, and accelerated deleveraging. Portfolio rebalancing progress to date, and additional cost and footprint actions underway to strengthen margins and cash generation PORTFOLIO REBALANCING Divestitures YTD • 4 brands and 2 facilities reduced through category exits • ~95k sq. ft. of warehouse space cleared • >5% reduction in FTEs through divestitures • ~7,000 low-margin SKUs reduced, ~16% of the portfolio Annualized Impact • $12MM+ in one-time net cash generation • 150-200bps EBITDA expansion; $3- $5MM annualized benefit expected • 0.20x - 0.30x deleverage acceleration expected • >5% improvement in inventory turns expected LOWERING OPERATING COSTS Actions in Q2 • 2 Manufacturing Site Consolidations • >115 Team member and contractor reductions driven by improvements in operating productivity and efficiency • Reduction in non-value added SG&A • Eliminated production and distribution days during lower seasonal demand periods FINANCIAL IMPACT
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13 Well Positioned for the Second Half of the Year Multiple drivers position Holley for a strong second half. Five factors we remain optimistic about the second half of 2026. OPERATIONAL FOCUS Simplified Operations Exited non-core businesses like Restoration which we anticipate will reduce complexity and sharpen focus. RETAIL PLACEMENT Favorable Retailer Placement $12M national retailer program secured for Q3, expanding our national shelf presence. INNOVATION New Product Innovation A robust lineup of new launches and innovation hitting the market in the second half. BRAND MARKETING Revamped Marketing Strategy Rebuilt around brand-specific activations designed to drive demand. M&A CONTRIBUTION HRX Acquisition Contribution Continued growth and earnings contribution anticipated from the HRX acquisition.
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14 Q2 Financial Results Jesse Weaver Chief Financial Officer 14
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15 Leverage Ratio2 as of End of Q2 3.74x Financial Priorities • Unlocking structural profitability through optimized staffing models and ongoing efficiency gains across distribution centers. • Targeting facility consolidation and disciplined, network-wide cost actions. • Targeting $5M to $7M in operating savings in 2026 driven by sustained improvements in product quality and lower warranty expense. Year-to-Date Ops Efficiency of $6.0M DRIVE PROFITABILITY THROUGH OPERATIONAL EFFICIENCY • Executing sharper portfolio management that reduces non-working WIP and RAW inventory. • Lowering excess inventory by strengthening demand-aligned SIOP planning. • Strengthening performance through detailed review of all inventory positions on top and bottom moving SKUs to optimize safety stock and MOQ terms with suppliers Inventory Rebalancing Strategy Delivering >$10MM YTD1 OPTIMIZE WORKING CAPITAL • Maintaining progressive balance-sheet de-leveraging through consistent deployment of free cash flow toward targeted debt prepayments. • Delivered substantial deleveraging progress over the past two years and remain focused on achieving our long-term leverage target of ~3.0x. DELEVER BALANCE SHEET FY 2026 Target Year-End Leverage Target <3.5xFY 2026 Target $5-$7M FY 2026 Target Inv. Reduction of $10-$15M 1) Excludes divestitures and acquisitions 2) Credit Agreement Total Leverage Ratio Driving Operational Efficiencies while continuing to Strengthen Balance Sheet.
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16 $ millions (except per share) 2Q26 2Q25 B/(W) Net Sales $172.0 $166.7 3.2% l 4.9%1 Gross Margin 41.0% 41.7% (72) bps SG&A (incl. R&D) $44.2 $38.0 $(6.1) Net Income (Loss) $(2.4) $10.9 $(13.3) Adj. Net Income2 $24.0 $10.6 $13.4 Adj. Diluted EPS2 $0.20 $0.09 $0.11 Adj. EBITDA2 $33.8 $36.4 $(2.6) Adj. EBITDA Margin2 19.6% 21.9% (223) bps Interest Expense $8.2 $13.4 $5.2 Free Cash Flow2 $40.9 $35.7 $5.2 Return to Revenue Growth and Operational Discipline Drive Strong Second- Quarter Free Cash Flow. 2Q26 Key Metric Recap 1) Core Growth Rate excludes Sales of Divested Businesses as part of the Portfolio Rebalancing Initiative 2) Non-GAAP measure. Please see the GAAP to Non-GAAP reconciliation in the Appendix to this presentation.
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17 Free Cash Flow1 Generation Free Cash Flow ($M) 1) Non-GAAP measure. Please see the GAAP to Non-GAAP reconciliation in the Appendix to this presentation. 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 2Q251Q25 3Q25 4Q25 1Q26 2Q26 Generated Free Cash Flow of $40.9 million, a $5.2 million improvement year-over- year.
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18 Strong cash flow provides flexibility to pursue strategic opportunities, reduce debt, and repurchase shares. Capital Allocation Framework OUR FRAMEWORK — THREE -PRONGED APPROACH Pursue strategic acquisitions Disciplined M&A that expands capabilities and meets our return thresholds. Reduce leverage Pay down debt to improve financial flexibility and strengthen the balance sheet. Return capital to shareholders Opportunistic buybacks when our shares represent an attractive value. EXECUTING AGAINST EACH PRIORITY Acquisition completed Complementary business now contributing to both growth and earnings. 3.74x Leverage Ratio at quarter-end Reduced by paying down borrowings under our revolving credit facility. ~$2M Shares repurchased this quarter Demonstrating confidence in the intrinsic value of the business.
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19 $ millions 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Revolver Drawn $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $10 $0 Credit Agreement Net Debt $584.4 $553.4 $536.0 $515.3 $515.1 $511.8 $520.7 $508.2 $492.9 $492.3 $510.8 $482.8 Net Debt1 $573.3 $543.1 $526.4 $503.1 $505.6 $496.5 $512.2 $486.3 $484.8 $485.4 $504.3 $457.8 Adj. EBITDA (TTM)2 116.7 130.9 117.5 117.5 109.9 110.5 116.8 115.0 120.0 124.0 124.1 121.4 Covenant Add- backs 2.8 0.7 11.2 10.7 11.3 12.3 3.6 5.4 6.0 7.3 9.0 7.6 Credit Agreement EBITDA (TTM)3 $119.5 $131.6 $128.7 $128.2 $121.2 $122.8 $120.4 $120.3 $126.0 $131.3 $133.0 $129.0 Credit Agreement Total Leverage Ratio of 3.74x reached lowest level in four years and remains on track to be lower than year-end target of 3.5x. Leverage Ratio (Consolidated Total Debt/TTM Consolidated EBITDA) Total Leverage Ratio1 1) Calculated as reported current portion of long-term debt and long-term debt, net of deferred financing costs less cash on the condensed consolidated balance sheets. 2) Non-GAAP measure. Please see the GAAP to Non-GAAP reconciliation in the Appendix to this presentation. 3) As calculated per our existing credit agreement; includes addback of non-cash write down related to Strategic Portfolio Rebalancing.
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Updated May 2026 Net Sales Guidance to Account for Anticipated $15 Million Adjustment to Portfolio Rebalancing. Maintaining Full Year 2026 Guidance Outlook ($ millions) FY26 Guidance (Previously Adjusted for Portfolio Rebalancing) Net Sales Core Business Growth Rate %1 $610 - $640 million ~2% to ~7% Adjusted EBITDA2 $127 - $137 million Capital Expenditures $15 - $20 million Depreciation and Amortization $24 - $26 million Interest Expense (excluding Mark-to-Market on Collar) $42 - $47 million 1. Core Business Growth Rate excludes impact from Portfolio Rebalancing Adjustment anticipated for 2026. 2. Non-GAAP measure. Please see Slide 2 for disclaimer regarding inability to reconcile to GAAP. 20
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21 21 Q&A Jesse Weaver Chief Financial Officer Matt Stevenson Chief Executive Officer 21
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22 Working Together to Drive Financial Success Large base of passionate and highly engaged enthusiast consumers with attractive demographics Massive ~$39B U.S. market with decades of growth1 Powerhouse of product innovation with iconic brands Proven acquisition platform with robust integration and growth potential Transformational digital and DTC opportunity with omni-channel distribution Flexible operating model with attractive growth, margins, and free cash flow Experienced team with a track record of execution 1) Based on SEMA data; Performance aftermarket based on performance engines, wheels, tires, brakes, and suspension categories. • Mid-Single Digit Organic Top Line Growth • ~40% Gross Margin Target • >20% Adj. EBITDA Margin Target • Sustainable Free Cash Flow • Strategic Acquisitions 22
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23 Appendix
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24 Interest Rate Collar Feb 2026 to Nov 2028 Summary Key Terms Effective Date 2/18/2026 Maturity Date 11/18/2028 Holley Inc. Buys a Cap 4.990% Holley Inc. Sells a Floor 3.350% Index 3 Month Term SOFR Premium Zero
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25 TTM EBITDA and Adjusted EBITDA Reconciliation 1) EBITDA and Adjusted EBITDA are not measures of financial performance under U.S. GAAP and should not be considered as an alternative to net income in accordance with U.S. GAAP. Management believes that EBITDA and Adjusted EBITDA facilitate useful period-to-period comparisons of financial results, and the information is used by management in evaluating the Company's performance. 2) Other Expense includes gains or losses from disposal of fixed assets, franchise taxes, and gains or losses from foreign currency transactions. HOLLEY INC. and SUBSIDIARIES USE AND RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions) (Unaudited) TTM 3Q25 4Q25 1Q26 2Q26 Net Income (Loss) $ (24.9) $ 19.2 $ 23.6 $ 10.3 Adjustments: Depreciation 10.4 9.7 9.9 10.4 Amortization of intangible assets 13.9 13.8 13.7 13.7 Interest expense, net 51.8 51.8 46.0 40.9 Income tax expense (benefit) 3.1 9.5 10.3 5.6 EBITDA 54.3 104.0 103.5 80.9 Impairment of Indefinite-Lived Intangible Assets 7.7 — — — Impairment of Goodwill 40.9 — — — Loss on Sale of Assets 1.7 — — 28.3 Change in fair value of warrant liability 2.9 1.2 0.3 (0.3) Change in fair value of earn-out liability 0.7 0.9 0.6 (0.5) Equity-based compensation expense 6.1 8.2 8.4 8.6 Loss (gain) on early extinguishment of debt — (0.1) (0.1) (0.1) Restructuring costs 2.0 2.9 3.3 3.8 Notable items 2.6 4.9 6.4 8.3 Other expense 0.9 2.1 1.7 (7.5) Adjusted EBITDA $ 119.8 $ 124.0 $ 124.1 $ 121.4
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26 EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin are not measures of financial performance under U.S. GAAP and should not be considered as an alternative to net income or net income margin in accordance with U.S. GAAP. Management believes that EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin facilitate useful period-to-period comparisons of financial results, and the information is used by management in evaluating the Company's performance. HOLLEY INC. and SUBSIDIARIES USE AND RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (In millions) (Unaudited) For the thirteen weeks ended For the twenty-six weeks ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 Net income (loss) $ (2.4) $ 10.9 $ 4.8 $ 13.7 Adjustments: Depreciation 2.7 2.2 5.2 4.5 Amortization of intangible assets 3.4 3.4 6.8 6.9 Interest expense, net 8.2 13.4 18.1 29.1 Income tax expense (benefit) (1.2) 3.5 0.7 4.6 EBITDA 10.6 33.3 35.6 58.7 Change in fair value of warrant liability (0.5) — (1.6) (0.1) Change in fair value of earn-out liability (1.3) (0.2) (1.8) (0.4) Loss on sale of assets 28.3 — 28.2 — Equity-based compensation expense 1.6 1.4 3.3 2.9 Restructuring costs 0.8 0.4 1.7 0.8 Notable items 3.2 1.3 4.9 1.5 Other expense (8.9) 0.3 (9.3) 0.3 Adjusted EBITDA $ 33.8 $ 36.4 $ 61.1 $ 63.7 Net sales $ 172.0 $ 166.7 $ 319.3 $ 319.7 Net income (loss) margin (1.4%) 6.5% 1.5% 4.3% Adjusted EBITDA Margin 19.6% 21.9% 19.1% 19.9%
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27 Quarterly Free Cash Flow Reconciliation Free cash flow is not a measure of financial performance under U.S. GAAP and should not be considered as an alternative to net cash provided by (used in) operating activities in accordance with U.S. GAAP. Management believes this figure is of interest to investors and facilitates useful period-to-period comparison of the Company's operating results. HOLLEY INC. and SUBSIDIARIES USE AND RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions) (Unaudited) Free Cash Flow is not a measure of financial performance under U.S. GAAP and should not be considered as an alternative to net cash provided by operating activities in accordance with U.S. GAAP. Management believes that free cash flow is useful for investors to understand our performance and results of cash generation after making capital investments required to support ongoing business operations. For the thirteen weeks ended For the twenty-six weeks ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 Net Cash Provided by Operating Activities $ 47.1 $ 40.5 $ 44.3 $ 32.6 Capital expenditures (6.2) (4.8) (9.6) (7.8) Free Cash Flow $ 40.9 $ 35.7 $ 34.6 $ 24.8 2021 2022 2023 2024 2025 2026 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Net Cash provided by (used in) operating activities $ 27.4 $(21.5) $ (3.3) $ 18.3 $ 2.5 $ (8.7) $ 0.1 $ 3.7 $ 30.7 $ 22.5 $ 31.2 $ 18.8 $ 25.7 $ (1.7) $ 4.1 $ (7.8) $ 40.5 $ 7.4 $ 8.5 $ (2.9) $ 47.1 Capital expenditures (4.0) (3.3) (4.8) (5.7) (3.9) (2.1) (1.8) (1.0) (1.7) (1.7) (1.5) (1.2) (1.4) (0.3) (2.4) (3.0) (4.8) (2.1) (4.7) (3.5) (6.2) Proceeds from the disposal of fixed assets 0.3 — — 0.2 0.1 0.2 0.4 0.3 — 0.9 0.2 0.2 0.1 — 0.1 — — 0.2 0.1 — — Free cash flow $ 23.7 $(24.8) $ (8.1) $ 12.8 $ (1.3) $(10.6) $ (1.3) $ 3.0 $ 29.0 $ 21.7 $ 29.9 $ 17.8 $ 24.4 $ (2.0) $ 1.8 $(10.8) $ 35.7 $ 5.5 $ 3.9 $ (6.3) $ 40.9
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28 Adjusted Net income and Adjusted diluted EPS Reconciliation Adjusted net income and adjusted diluted earnings per share ("EPS") are not measures of financial performance under U.S. GAAP and should not be considered as an alternative to net income and diluted EPS in accordance with U.S. GAAP. Management believes that adjusted net income and adjusted diluted EPS facilitate useful period-to-period comparisons of financial results, and the information is used by management in evaluating the Company's performance. HOLLEY INC. and SUBSIDIARIES USE AND RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (In millions, except per share data) (Unaudited) For the thirteen weeks ended For the twenty-six weeks ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 Net income $ (2.4) $ 10.9 $ 4.8 $ 13.7 Special items: Adjust for: Change in fair value of Warrant liability (0.5) — (1.6) (0.1) Adjust for: Change in fair value of earn-out liability (1.3) (0.2) (1.8) (0.4) Adjust for: Loss on sale of assets 28.3 — 28.2 — Adjusted Net Income $ 24.0 $ 10.6 $ 29.7 $ 13.2 Weighted Average Common Shares Outstanding - Diluted 120,284,587 119,790,625 121,148,759 119,676,684 Adjusted Diluted Earnings per Share $ 0.20 $ 0.09 $ 0.25 $ 0.11