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Investor Presentation September 2026 1
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Disclaimer Forward-Looking and Cautionary Statements This presentation contains, and oral statements made from time to time by our representatives may contain, “forward-looking statements.” All statements other than statements of historical facts contained in this presentation, including statements regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans, objectives of management, expected market growth and any activities, events or developments that we intend, expect or believe may occur in the future are forward-looking statements. Such statements are often identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “on-going,” “remain,” “on track,” “projects,” “goal,” “target” (although not all forward-looking statements contain these identifying words) and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on our current expectations and assumptions regarding capital market conditions, our business, the economy and other future conditions and are not guarantees of future performance. Because forward-looking statements relate to the future, by their nature, they are inherently subject to a number of risks, uncertainties, potentially inaccurate assumptions and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in any forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, including risks regarding: (1) our sensitivity to changes in economic conditions and discretionary consumer spending; (2) the material adverse impact of pandemics, other health crises or natural disasters on our operations, business and financial results; (3) our ability to anticipate and respond to changing customer preferences, shifts in fashion and industry trends in a timely manner; (4) our ability to maintain our brand image, engage new and existing customers and gain market share; (5) the impact of operating in a highly competitive industry with increased competition; (6) our ability to successfully optimize our omnichannel operations, including our ability to enhance our marketing efforts and successfully realize the benefits from our investments in new technology, for example our new predictive AI-powered inventory forecasting model and other AI tools, our upgraded point-of-sale system and recently implemented order management system; (7) our ability to use effective marketing strategies and increase existing and new customer traffic; (8) any interruptions in our foreign sourcing operations and the relationships with our suppliers and agents; (9) any increases in the demand for, or the price of, raw materials used to manufacture our merchandise and other fluctuations in sourcing and distribution costs; (10) any material damage or interruptions to our information systems; (11) our ability to protect our trademarks and other intellectual property rights; (12) our indebtedness restricting our operational and financial flexibility; (13) our ability to manage our inventory levels, size assortments and merchandise mix; (14) the fact that we are no longer a controlled company; (15) the impact of any new or increased tariffs; (16) our management succession plan; and (17) other factors that may be described in our filings with the Securities and Exchange Commission (the “SEC”), including the factors set forth under “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended January 31, 2026. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. We caution investors, potential investors and others not to place considerable reliance on the forward-looking statements in this presentation and in the oral statements made by our representatives. Any such forward-looking statement speaks only as of the date on which it is made. J.Jill undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. Non-GAAP Financial Measures This presentation includes financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (“GAAP”). Our management uses these non-GAAP measures in its analysis of our performance. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are included in the Appendix to this presentation. 2
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J.Jill At A Glance 3 (1) Non-GAAP financial measures; see Appendix for reconciliation to GAAP financial measures (2) Reflects store count as of year-end fiscal 2025 (3) Reflects average tenure of existing customer base (>1 year with J. Jill). Source: J.Jill Customer Database year-end fiscal 2025 High-Margin, Cash Generative Business Supported by Balanced Omni-Channel Model •FY25 Net Sales: $597M •FY25 Gross Margin Rate: 68.7% •FY25 Adjusted EBITDA(1)/Margin(1): $84M/14% •FY25 Net Sales Channel Split: 52% Retail / 48% Direct •Store Count(2): 256 Industry Leading Customer Loyalty •>10 Year Avg. Customer Tenure(3) •59% Retention Rate Strong Leadership Team with Deep Retail Experience •Current executive team has on average 20+ years of retail experience •Deep bench of tenured executives and new leaders with fresh perspectives •Focused on execution and positioning business for next chapter of growth
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Our Customer – Attractive Demographics 4 Significant Discretionary Income Approximately 45% of customers have an income of $150K+(1) Just 21% have children in their household, allowing for more discretionary spend on herself (1) (1) J.Jill Customer Database year-end fiscal 2025 (2) U.S. Census Bureau Release of New Educational Attainment Data September 2025 Educated 72% are college graduates compared to the total population at 39% (1, 2) 45+ Years Old We target one of the largest segments of the female population Target customer is 45-65, with new customers moving towards the younger end of the range Household Income Distribution: Population vs. J.Jill Customer(4, 5) 17% 13% 26% 25% 19% Children 0-14 Youth 15-24 Adult 25-44 Adult 45-64 Seniors 65+ U.S. Female Population Breakdown by Age(3) Target Customers (3) U.S. Census Bureau, Population Division. Annual Estimates of the Resident Population for Selected Age Groups by Sex for the United States: July 1, 2024 Vintage (NC-EST2024-AGESEX). April 2025 Release (4) U.S. Census Bureau, Current Population Survey, 2025 Annual Social and Economic Supplement (CPS ASEC) (5) Epsilon Total Source Plus 53% 29% 18% 31% 38% 31% Under $100K $100K<$200K $200K+ Population J.Jill Customers
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Industry-Leading Customer Loyalty 5 (1) Source: J.Jill Financials fiscal 2025 (2) The percent of customers who say they are highly satisfied or satisfied with their most recent in-store purchase. Source: J.Jill CSAT Tracker (3) For two consecutive twelve-month timeframes, Retention Rate is the # of Customers who shopped in both timeframes divided by the # of Customers who shopped in the previous timeframe. Source J.Jill Customer Database y/e fiscal 2025 (4) Reflects average tenure of existing customer base (>1 year with J. Jill). Source: J.Jill Customer Database year-end fiscal 2025 59% Retention Rate(3) •She buys to update her wardrobe seasonally •She is digitally savvy and is comfortable shopping all channels •She frequents the store for the high-touch experience, personal styling and appointments •She leverages our private label credit card with exclusive benefits that keep her engaged >10 years Average Tenure(4) J.Jill Loyal Customer 95+% CSat Score(2) 44% J.Jill Credit Card Tender Share(1)
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Profitable Retail Store Base with Room for Expansion The J.Jill retail platform is a highly efficient and profitable model that combines an unmatched shopping experience with attractive economics in only the best locations. 6 Optimized fleet with consistent, powerful unit economics •Streamlined store fleet in premium malls (46% of units) and lifestyle centers (54% of units) •Underpenetrated relative to the competition. Strategically opening new locations in select markets •94% of the store fleet was profitable as of fiscal 2025 •Attractive return on initial net investment of $1M, representing a cash- on-cash return of about 30% Store Count as of Q425: 256 Performance + Efficiency Approx $1.2 million Average Unit Volume Approx $323 Sales per Gross Sq. Ft. (1) J.Jill Customer Database year-end fiscal 2025 ~54% of New Customers Make Their First Purchase Through a Store(1)
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Powerful Omnichannel Platform 7 Direct Omnichannel J.Jill at Her Fingertips •Inclusive Sizing in XS-4X, Petite and Tall •Online-only exclusive product •Styling and Fit tools Store Engaging Experience •High-touch customer experience •Elevated showcase of brand concept •Appointments and Events (1) J.Jill Customer Database year-end fiscal 2025 3x(1) Omni-customer spend vs. single channel
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Next Chapter for Growth 8 Realize the untapped potential to expand the customer file by executing on a strategic framework focused on three key areas: Evolve Our Product Assortment Enhance the Customer Journey Advance the Way We Work Deliver newness that is relevant and versatile to widen our appeal Unlock opportunities with strategic category expansion and creating a more cohesive offering Work smarter, faster, and more effectively through the integration of enhanced technology capabilities Accelerate growth, gain efficiencies and improve the customer experience through a strategic technology roadmap Strike the right balance across our marketing mix to maximize impact and reach Activate our store fleet – one of our greatest marketing vehicles – to better tell our product story to new & existing customers
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Capital Deployment Priorities 9 Invest in Growth Initiatives •4 Net New Store Openings in FY25 •1-3 Net New Store Openings Planned for FY26; Long-term target for an ultimate fleet size of approximately 300 stores Invest in Systems •Successfully implemented new OMS system in FY25 •Planned investment for new planning and allocation system in FY26 Optimize Capital Structure •Refinanced $75M term loan in FY25 resulting in ~$2M in annualized cash interest expense savings Execute Total Shareholder Return Strategies •Paid ~$5M in ordinary dividends in FY25; Three consecutive quarters of $0.09 per share regular cash dividends •Repurchased ~$2.3 million of stock year-to-date following ~$10.4 million of repurchases in FY25; $11.8 million remaining under board authorization as of August 1, 2026 Evaluate Accretive M&A Opportunities
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10 Financial Overview
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16% 18% $92 $109 $113 $107 $84 2021 2022 2023 2024 2025 Historical Financials (1) 11 ($Millions) 23% 7% (1%) 1% (3%) $294 $327 $323 $321 $309 $292 $288 $285 $290 $288 $585 $615 $608 $611 $597 2021 2022 2023 2024 2025 Net Revenue Adjusted EBITDA(2) and Margin(2) 19% 18% Retail Direct Adjusted EBITDA Margin 67.4% 68.6% 70.8% 70.4% Gross Margin % Total Company Comparable Sales 253 243 244 252 256 Total Store Count (1) Fiscal 2023 was a 53-week year and reflects immaterial corrections and revised addbacks. 2021-2022 is unchanged. (2) Non-GAAP financial measures; see Appendix for reconciliation to GAAP financial measures 68.7% 14%
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$70 $59 $46 $47 $23 2021 2022 2023 2024 2025 Historical Financials (1) 12 ($Millions) Free Cash Flow(2) (3) and Cash Conversion(2) (3) 54% 41% 44% 28% FCF ConversionFCF 76% (1) Fiscal 2023, a 53-week year, reflects immaterial corrections and revised addbacks. 2021-2022 is unchanged. (2) Non-GAAP financial measures; see Appendix for reconciliation to GAAP financial measures (3) Free Cash Flow is defined as Cash from Operations less Gross Capital Expenditures. Cash Conversion is defined as Free Cash Flow as a percentage of Adjusted EBITDA. (4) Adjusted EPS reflects equity-based comp and write-off of prop & equip as an adjustment as of fiscal 2023. 2021-2022 is shown as reported. See Appendix for full reconciliation of Adjusted Net Income Adjusted EPS (2) (4) and Net Interest $2.13 $3.01 $3.32 $3.47 $2.44 $19 $20 $24 $13 $8 2021 2022 2023 2024 2025 Adjusted EPS Net Interest
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Historical Financials (1) 13 ($Millions) $36 $87 $62 $35 $41 2021 2022 2023 2024 2025 Cash Inventory Debt $56 $51 $53 $61 $70 2021 2022 2023 2024 2025 $210 $209 $156 $69 $73 2021 2022 2023 2024 2025 (1) Fiscal 2023 was a 53-week year (2) Capital Expenditures presented excluding tenant allowances as reported on the statement of cash flows. $5 $15 $17 $18 $19 2021 2022 2023 2024 2025 2% 3% 3% 3% % of RevenueCapEx Capital Expenditures(2) 1%
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(1) Non-GAAP financial measures; see Appendix for reconciliation to GAAP financial measures *2Q26 Gross Profit and Adjusted EBITDA includes the benefit of $13.3 million related to net tariff refunds which was partially deployed toward strategic initiatives and elevated freight and fuel costs in the period **2Q26 Net Cash provided by Operating Activities includes the benefit of $19.0 million related to gross tariff refunds including associated interest income $105 $119 2Q25 2Q26* Q2 2026 Financial Results 14 Net Revenue ($Millions) Gross Profit and Margin Adjusted EBITDA (1) and Margin (1) Retail Direct 68.4% 76.8% 16.6% 21.2% Gross Profit Adj. EBITDA Margin Margin ($Millions) ($Millions) Commentary Net Sales increased by 0.5% compared to Q2 2025 Total Company comparable sales, which includes comparable store and direct to consumer sales, increased by 0.5% year-over-year Gross Margin increased 840 bps year-over-year. Gross Margin, excluding the benefit of $13.3 million of net tariff refunds, was about flat year-over-year. Adjusted EBITDA(1) was $32.8 million compared to $25.6 million in Q2 2025. Adjusted EBITDA(1) excluding net tariff refunds and investments was $20.1 million. Tariff refund proceeds of ~$13.3M are being strategically deployed – the majority toward marketing and customer file growth, a portion toward accelerated technology investments, and the remainder to offset emerging fuel cost pressures; ~$600K was absorbed in Q2. Net cash provided by operating activities was $46.3 million in Q2 2026, ending the quarter with $76.9 million of cash The Company did not open any stores in Q2 resulting in a quarter-end store count of 255, compared to 247 stores to end Q2 2025. $83 $82 $71 $73 $154 $155 2Q25 2Q26 $26 $33 2Q25 2Q26*
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$53 $50 1H25 1H26* $216 $218 1H25 1H26* 1H 2026 Financial Results 15 Net RevenueCommentary Net Sales decreased by 2.7% year-over-year Total Company comparable sales, which includes comparable store and direct to consumer sales, decreased by 4.2% year-over-year Gross Margin increased 260 bps year-over-year. Gross Margin, excluding the benefit of $13.3 million of net tariff refunds, declined 180 bps year-over-year. Adjusted EBITDA(1) was $49.5 million compared to $52.9 million in 1H 2025. Adjusted EBITDA(1) excluding net tariff refunds and investments was $36.8 million. Tariff refund proceeds of ~$13.3M are being strategically deployed – the majority toward marketing and customer file growth, a portion toward accelerated technology investments, and the remainder to offset emerging fuel cost pressures; ~$600K was absorbed in Q2. Net cash provided by operating activities was $48.0 million in 1H 2026, ending the quarter with $76.9 million of cash The Company continues to execute on its Total Shareholder Return Strategies with a quarterly dividend program and share repurchase activity ─ As of August 1, 2026, the Company had $11.8 million remaining under our currently authorized $25.0 million share repurchase program ($Millions) Gross Profit and Margin Adjusted EBITDA (1) and Margin (1) Retail Direct 70.1% 72.7% 17.2% 16.6% Gross Profit Adj. EBITDA Margin Margin ($Millions) ($Millions) $164 $161 $143 $139 $308 $299 1H25 1H26 (1) Non-GAAP financial measures; see Appendix for reconciliation to GAAP financial measures *1H26 Gross Profit and Adjusted EBITDA includes the benefit of $13.3 million related to net tariff refunds which was partially deployed toward strategic initiatives and elevated freight and fuel costs in the period **1H26 Net Cash provided by Operating Activities includes the benefit of $19.0 million related to gross tariff refunds including associated interest income
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16 Appendix
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Adjusted EBITDA Reconciliation(1) 17 a. SaaS Amortization: represents amortization of capitalized implementation costs related to cloud-based software arrangements that is included within Selling, general and administrative expenses. b. Equity Based Compensation: adds back stock-based compensation expensed through the P&L; related compensation expense recognized based on fair value at the date of grant. c. Gain/Loss due to Hurricane: represents loss on write-off of property and equipment and inventory at one store location due to hurricane and insurance recovery received to date. d. Impairments: adds back impairment of goodwill, intangibles, and long-lived assets expensed through the P&L. e. Fair Market Value Adj: primarily consists of non-cash fair value adjustments of warrants issued with the September 2020 refinancing. f. Debt Costs: represents costs associated with debt refinancing transactions completed in April 2023 and December 2025, and voluntary prepayments in Q2 2024. g. Non-Recurring Items: represents items management believes are not indicative of ongoing operating performance, including professional fees, executive transition costs, severance and retention expenses, and costs related to COVID-19. Commentary(1) (1) Fiscal 2023 was a 53-week year and reflects immaterial corrections and revised addbacks. 2021-2022 is unchanged. (2) Amounts shown as 0 round to less than $1 million $ in millions 2 2021 2022 2023 2024 2025 Q2 '26 H1 '26 Net Sales 585$ 615$ 608$ 611$ 597$ 155$ 299$ Net Income (28)$ 42$ 36$ 39$ 28$ 17$ 21$ Interest Expense 19 20 24 13 8 1 2 Income Tax Provision 8 16 13 14 11 7 9 Depreciation & Amort 29 26 23 21 21 5 10 SaaS Amortization (a) - - 1 1 2 1 1 Equity Based Comp (b) 3 4 4 7 5 2 3 Write-off of Prop & Equip 1 0 0 0 0 0 0 Adj for Exited Retail Stores (2) (0) (1) (1) (0) (0) (0) G/L due to Hurricane (c) - - - 0 (1) - - Impairments (d) - 1 0 1 1 0 0 Fair Market Value Adj (e) 60 - - - - - - Debt Costs (f) - - 13 9 3 0 0 Non-Recurring (g) 2 0 0 3 5 1 2 Adjusted EBITDA 92$ 109$ 113$ 107$ 84$ 33$ 50$ Margin % 16% 18% 19% 18% 14% 21% 17% $ in millions Q2 '26 H1 '26 Net Sales 155$ 299$ Adjusted EBITDA 33$ 50$ Net Tariff Refunds (13) (13) Strategic Investments and Elevated Fuel Costs 1 1 Adjusted EBITDA, ex Net Tariff Refunds 20$ 37$ Margin % 13% 12%
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Adjusted Net Income/EPS and Free Cash Flow Reconciliation(1) 18 a. Equity Based Compensation: adds back stock-based compensation expensed through the P&L; related compensation expense recognized based on fair value at the date of grant. b. Gain/Loss due to Hurricane: represents loss on write-off of property and equipment and inventory at one store location due to hurricane and insurance recovery received to date. c. Impairments: adds back impairment of goodwill, intangibles, and long-lived assets expensed through the P&L. d. Fair Market Value Adj: primarily consists of non-cash fair value adjustments of warrants issued with the September 2020 refinancing. e. Debt Costs: represents costs associated with debt refinancing transactions completed in April 2023 and December 2025, and voluntary prepayments in Q2 2024. f. Non-Recurring Items: represents items management believes are not indicative of ongoing operating performance, including professional fees, executive transition costs, severance and retention expenses, and costs related to COVID-19. Commentary (1) (1) Fiscal 2023 was a 53-week year and reflects restatement for Equity Based Comp and Write-off of Prop & Equip as add-backs. 2021-2022 is shown as reported and does not add back those items. (2) Amounts shown as 0 round to less than $1 million $ in millions 2 2021 2022 2023 2024 2025 Q2 '26 H1 '26 Net Income (28)$ 42$ 36$ 39$ 28$ 17$ 21$ Income Tax Provision 8 16 13 14 11 7 9 Equity Based Comp (a) - - 4 7 5 2 3 Write-off of Prop & Equip - - 0 0 0 0 0 Adj for Exited Retail Stores (2) (0) (1) (1) (0) (0) (0) G/L due to Hurricane (b) - - - 0 (1) - - Impairments (c) - 1 0 1 1 0 0 Fair Market Value Adj (d) 60 - - - - - - Debt Costs (e) - - 13 9 3 0 0 Non-Recurring (f) 2 0 0 3 5 1 2 Adjusted Tax Provision (10) (17) (17) (19) (15) (8) (10) Adjusted Net Income 30$ 43$ 48$ 52$ 37$ 19$ 25$ Diluted Shares 14.1 14.3 14.4 15.1 15.3 15.1 15.0 Adjusted EPS 2.13$ 3.01$ 3.32$ 3.47$ 2.44$ 1.24$ 1.69$ $ in millions 2021 2022 2023 2024 2025 Q2 '26 H1 '26 Net Income (28)$ 42$ 36$ 39$ 28$ 17$ 21$ Non-Cash Expense 91 35 43 36 36 8 16 Change in Working Capital 12 (3) (16) (11) (22) 21 11 Cash from Operations 75 74 63 65 42 46 48 - Less: Capital Expenditures 5 15 17 18 19 2 5 - Free Cash Flow 70$ 59$ 46$ 47$ 23$ 44$ 43$
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Fiscal 2023 Immaterial Corrections and Revised Addbacks (1) 19 (1) (1) Fiscal 2023 was a 53-week year (2) Amounts shown as 0 round to less than $1 million ($ in m illions) (2) Q1 Q2 Q3 Q4 Full Year Net Sales 149$ 156$ 150$ 149$ 605$ Adjustm ent 1 1 1 1 3 Corrected Net Sales 150$ 157$ 151$ 150$ 608$ Gross Profit 108$ 111$ 108$ 101$ 427$ % of sales 72.0% 71.6% 71.8% 67.3% 70.7% Adjustm ent 1 1 1 1 3 Corrected Gross Profit 108$ 112$ 109$ 101$ 431$ % of sales 72.1% 71.7% 72.0% 67.5% 70.8% SG&A Expense 82$ 83$ 86$ 90$ 341$ Adjustm ent 1 1 1 1 3 Corrected SG&A Expense 83$ 84$ 86$ 91$ 345$ OTHER NON-GAAP INFORMATION: Adjusted EBITDA 32$ 35$ 28$ 18$ 112$ % of sales 21.3% 22.2% 18.8% 11.8% 18.6% Adjustm ent 0 0 0 0 1 Corrected Adj EBITDA 32$ 35$ 29$ 18$ 113$ % of sales 21.2% 22.1% 18.9% 11.8% 18.6% Fiscal 2023