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Investor Presentation March 2025
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DISCLAIMER Neither KinderCare Learning Companies, Inc. (“KinderCare”, “the Company” or “we”) nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, or any other written or oral communication transmitted or made available to any recipient or its affiliates or representatives. The Company and its affiliates or representatives expressly disclaim to the fullest extent permitted by law any and all liability based, in whole or in part, on the presentation or any information contained herein or any other written or oral communication transmitted or made available to any recipient or its affiliates or representatives, including, without limitation, with respect to errors therein or omissions therefrom. This presentation is for informational purposes and reference only pursuant to your request and i s not intended to be, and must not be, taken as the basis for a decision with respect to any possible transaction. These materials and any related oral statements do not purport to contain all of the information that may be required to evaluate all of the factors that would be relevant to your consideration of any potential transaction and shall not be construed as legal, tax, investment or any other advice. You should consult your own counsel, accountant or business advisors and should conduct your own investigation and analysis. Performance information is historical and is not indicative of, nor does it guarantee future results. There can be no assurance that similar performance may be experienced in the future. No securities commission or securities regulatory authority in the United States or any other jurisdiction has in any way passed upon the accuracy or adequacy of this presentation. FORWARD-LOOKING STATEMENTS AND OTHER INFORMATION This presentation (including the verbal information and discussion relating to these materials) contains forward -looking statements. You can generally identify forward looking statements by the Company’s use of forward-looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “seek,” “vision,” or “should,” or the negative thereof or other variations thereon or comparable terminology. In particular, statements about the markets in which we operate, including the Company’s beliefs about market trends, the Company’s market opportunity and the growth of the Company’s various markets, the Company’s expansion into new markets, the size of the Company’s total addressable market, market trends, and the Company's expectations, beliefs, plans, strategies, objectives, prospects, assumptions, or future events or performance contained in this presentation are forward looking statements. We have based these forward-looking statements on the Company’s current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control. These and other important factors may cause the Company's actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements, or could affect the Company's share price. Some of the factors that could cause actual results to differ materially from those expressed or implied by the forward looking statements include: the Company’s financial condition and results of operations; the Company’s ability to address changes in the demand for child care and workplace solutions; the Company’s ability to adjust to shifts in workforce demographics, economic conditions, office environments and unemployment rates; the Company’s ability to hire and retain qualified teachers, management, employees, and maintain strong employee engagement; the Company’s ability to address adverse publicity; changes in federal child care and education spending policies and budget priorities; the Company’s ability to acquire additional capital; the Company’s ability to successfully identify acquisition targets, acquire businesses and integrate acquired operations into the Company’s business; the Company’s reliance on the Company’s subsidiaries; the Company’s ability to protect the Company’s intellectual property rights; the Company’s ability to protect the Company’s information technology and that of the Company’s third party service providers; the Company’s ability to manage the costs and liabilities of collecting, using, storing, disclosing, transferring and processing personal information; the Company’s ability to manage payment related risks; the Company’s expectati ons regarding the effects of existing and developing laws and regulations, litigation and regulatory proceedings; the fluctuatio n in the Company’s stock price; the increased expenses associated with being a public company; the Company’s ability to maintain adequate insurance coverage; and the occurrence of nat ural disasters, environmental contamination, public health crises, health pandemics, or other highly disruptive events. The information contained in Company's filings with the Securities and Exchange Commission ("SEC"), including under the heading "Risk Factors" in the Company’s Annual Report on Form 10 -K for the fiscal year ended December 28, 2024 and its other periodic reports, or incorporated therein, identifies other important factors that could cause the Company's actual results to differ materially from those stated in or implied by the Company's forward-looking statements. The Company's filings with the SEC are available on the SEC's website at www.sec.gov. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements contained in this presentation are not guarantees of future performance and the Company’s actual results o f operations, financial condition, and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this presentation. In addition, even if the Company’s results of operations, financial condition, and liquidity, and events in the industry in which we operate, are consistent with the forward-looking statements contained in this presentation, they may not be predictive of results or developments in future periods. Any forward-looking statement that we make in this presentation speaks only as of the date of such statement. Except as required by law, we do not undertake any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this presentation. MARKET AND INDUSTRY DATA This presentation also includes estimates regarding market and industry data that we prepared based on the Company’s manageme nt’s knowledge and experience in the markets in which we operate, together with information obtained from various sources, including publicly available information, industry reports and publications, surveys, the Company’s clients, suppliers, trade and business organizations and other contacts in the marke ts in which we operate. Management estimates are derived from publicly available information released by independent industry an analysts and third party sources, as well as data from the Company’s internal research, and are based on assumptions made by us upon reviewing such data and the Company’s knowledge of such industry and markets which we believe to be reasonable. In presenting this information, we have made certain assumptions that we believe to be reasonable based on such data and othe r similar sources and on the Company’s knowledge of, and the Company’s experience to date in, the markets for the products we distribute. Market share data is subject to change and may be limited by the availability of raw data, the voluntary nature of the data gathering process and other limitations inherent in any statistical survey of market share. In addition, client preferences are subject to change. Accordingly, you are cautioned not to place undue reliance on such market share data. NON-GAAP MEASURES This presentation contains “non-GAAP financial measures,” which are financial measures that are not calculated and presented in accordance with generally accepted accounting principles in the United States (“GAAP”). Specifically, we make use of the non -GAAP financial measures “EBIT,” “EBITDA,” “Adjusted EBITDA,” “Adjusted EBITDA Margin,” and “Net Debt” in evaluating the Company's past results and future prospects. EBIT is defined as net income adjusted for interest and income tax expense (benefit). EBITDA is defined as EBIT adjusted for depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted for impairment losses, equity-based compensation, management and advisory fee expenses, acquisition related costs, non-recurring distribution and bonus expense, COVID-19 Related Stimulus, net, and other costs because these charges do not relate to the core operations of our business. Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by revenue. Net Debt is defined as total debt excluding capital leases less cash and cash equivalents excluding restricted cash. The Company presents EBIT, EBITDA, and Adjusted EBITDA because the Company considers them to be important supplemental measures of performance and believe they are useful to securities analysts, investors, and other interested parties. The Company believes Adjusted EBITDA is helpful to investors in highlighting trends in core operating performance compared to other measures, which can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which companies operate, and capital investments. EBIT, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, and Net Debt have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Some of these limitations are: they do not reflect the significant interest expense or the cash requirements necessary to service interest or principal payments on indebtedness; they do not reflect income tax expense or the cash requirements for income tax liabilities; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will have to be replaced in the future, and EBIT, EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin do not reflect cash requirements for such replacements; they do not reflect the Company's cash used for capital expenditures or contractual commitments; they do not reflect changes in or cash requirements for working capital; and other companies, including other companies in the Company's industry, may calculate these measures differently than we do, limiting their usefulness as a comparative measure. The non-GAAP measures as defined by us may not be comparable to similar non-GAAP measures presented by other companies. The Company's presentation of such measures should not be construed as an inference that the Company's future results will be unaffec ted by other unusual or non-recurring items. A reconciliation is provided elsewhere in this presentation for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP. TRADEMARKS This presentation contains trademarks and service marks owned by us, including Champions, Crème School, Early Foundations, KinderCare, KinderCare Education and Rainbow. This presentation also contains trademarks, trade names and service marks of other c ompanies, which are the property of their respective owners. We do not intend the Company’s use or display of other parties’ trademarks, trade names or service marks to imply, and such use or display should not be construed to imply, a relationship with, or endorsement or sponsorship of us by, these other parties. 2 Legal Disclaimer
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The Future We Shape Today is the Future We Share Tomorrow OUR PURPOSE Building confidence, for kids and families and the future we share OUR BELIEFS 1. Families come first 2. Our work is our passion 3. Integrity is everything 4. Inclusion creates belonging 5. We’re never done OUR COMMITMENT Leverage our position as the largest private provider of high-quality early childhood education to meet each family where they are 3
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Notes: 1. Largest U.S. private child care provider; ranked by capacity and center data as of December 28, 2024 (Source: Management Estimates). 2. Same-center revenue is defined as revenues earned from centers that have been operated by the company for at least 12 months as of the period end date and is a measure used by management to attribute a portion of the company’s revenue to mature centers as compared to new or acquired centers. 3. Student capacity of ECE centers does not include additional capacity across Champions before- and after-school programs. 4. See appendix for reconciliation of non-GAAP measures. 4 KinderCare is a Leading Provider of Early Childhood Education (ECE) in the U.S. $2,663M Revenue (2024) $298M Adj. EBITDA (4) (2024) ~2,600 Centers & Sites Supported (as of December 28, 2024) ~210K Student Capacity (3) (as of December 28, 2024) Market Leader with Scale and Fleet Advantages #1 Private Provider by Center Capacity in ECE (1) 40 States & D.C. U.S. Presence Nationwide Platform Meets Families Where They Are ~8% 2018-2024 Same-Center Revenue CAGR (2) Proven, Multi-Pronged Growth Strategy
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5 Industry Trends Provide KinderCare Tailwinds Key Proof Points ~$62B Addressable Market (1) Meaningful Opportunity to Serve More Families Due to Many Care Programs at Risk of Going Offline by 2025 (2) Subsidies Support of $942M (35% of Revenue) in 2024 Flexible Go-to-Market Strategies 20% Employer / Tuition Benefit Contributions (3) 1 Large, Highly Fragmented Addressable Market 2 Persistent Center Supply Shortages 3 Growing and Stable Subsidy Funding 4 Families Struggle to Balance Child Care Responsibilities in Today’s Environment 5 Increasing Demand for Child Care Employer Benefits Driving B2B Growth Notes: 1. As reported by EY-Parthenon for 2023, and includes the estimated total addressable market across KinderCare’s portfolio, including employer sponsored care and Champions. 2. Harris Williams and EY-Parthenon; Early Childhood & Education and Youth Enrichment Opportunity Report H1 2024. 3. ~20% Employer / Tuition Benefit Contributions as a % of 2024 Revenue; employer-sponsored tuition benefit program revenue was ~$535M in 2024.
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Notes: 1. As reported by EY-Parthenon for 2023 2. Management estimate; represents total organic revenue opportunity across KinderCare’s portfolio, including employer-sponsored care and Champions. 3. Management estimate. 6 Leading Provider in a Large, Highly Fragmented Market ~$62B (1) Total U.S. Child Care Expenditures ~$10B (2) Near-Term Revenue Opportunity ~$2.7B KinderCare Revenue (2024) Near-Term White Space Same-Center Growth New Center Openings Employer-Sponsored Opportunity Before- and After-School Opportunity ~$942M of 2024 Revenue was Supported by Subsidies, Adding Stability and Predictability to our Revenue Base Top 5 Players Comprise Only ~5% Market Share (3) #1 #2 #3~5% U.S. Child Care Expenditures, $B Significant Runway for Growth in a Large Market Leading Market Share Across a Fragmented Landscape #4 #5
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Note: 1. The Century Foundation, June 2023, Child Care Cliff: 3.2 Million Children Likely to Lose Spots with End of Federal Funds. 7 Well-Positioned to Provide ECE Where It is Needed Most Brand Recognition and Wide Footprint Safety and Compliance Best Practices Operating Leverage Number of child care programs expected to close as federal stimulus funding expires, by state (1) with KinderCare’s center locations overlaid Est. center closures KinderCare Centers Efficiency from Centralized Operations Better Talent Attraction and Retention Tech-Enabled Commercial Strategy < 250 250-500 500-1K 1K-2K 2K+ Meaningful Number of Child Care Programs are Expected to Close KinderCare’s Scale Provides Tangible Advantages Compared to Smaller Providers Investment in Facilities, Curriculum and Tech
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8 Our Go-To-Market Channels Serving Families Where They Are In Your Neighborhood One of the largest footprints of community centers supporting families where they live (1) Where You Work Employee discounts leveraging our network of community centers A leading provider of on-site employer-sponsored childcare At Your School A leading provider of high-quality before- and after-school care on-site at schools Note: 1. Largest U.S. private child care provider; ranked by capacity and center data as of December 28, 2024 (Source: Management Estimates).
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9 Our Platform Enables Us to Meet Families Where They Are Notes: 1. By center capacity. 2. Tuition Benefit refers to employer-sponsored tuition benefit programs which can offer up to 100% savings on full-time, part-time, or drop-in tuition. 3. As of December 28, 2024 Community ECE Serving Ages 6 Weeks – 12 Years #1 Private Provider in ECE (1) Before- and After-School Serving Ages 6 – 12 Years Leading Private Provider in the Before- and After-School Market Premium ECE Provider Serving Ages 6 Weeks – 12 Years A Leader in Premium ECE Centers(3) 2024 Revenue Our Brands Align to Key Market Segments ~1,520s (Incl. ~75 Corporate On-Site Locations) ~1,025~45 ~$197M 7% ~$130M Acquired in 2022 5% ~$2.3B Employer-Sponsored Tuition Benefit Programs (~$535M, ~20%) (2) 88% We Believe We are Well-Positioned to Serve Families Across All Demographics Through Both Our B2C and B2B Offerings Non-Employer-Sponsored Revenue (~$1.8B, ~68%)
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$67 $112 $165 $197 2021 2022 2023 2024 641 788 948 1,025 2021 2022 2023 2024 10 Champions: Expanding to Serve More School-Aged Children Champions is a Leading Private Provider of Before- and After-School Programs in the U.S. A Leader for On-Site Organized Care Champions’ Site Count Note: 1. National center for Educational Statistics. We serve ~1K out of 64K+ elementary schools across the United States (1), providing a meaningful whitespace opportunity Champions’ Revenue ($M) +384 Ability to manage at scale, staffing at district level Champions runs programming on school property: little to no upfront investment Offering at all times of the year, including summer programs through Champ Camp Allows students to extend academic experience, which can range from homework help to specific electives, like coding
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11 B2B Employer Relationships Driving Growth The Program: Offers employees discounted tuition Delivery Method: Childcare services delivered through our own national portfolio of brands Model: Clients partner directly or via a 3rd party to access discount on enrollment at ECE centers; Tuition Benefit+ clients supplement families with additional corporate subsidized discount Tuition Benefit Program Contributes Meaningfully to Growth Our Sites Are Conveniently Located Close to Where Families Live, Making Our Tuition Benefit Program Particularly Attractive for Employers and Employees The Program: ECE centers located on / near site to employers Delivery Method: Childcare center operated by a KCLC brand with flexible model to fit client needs Model: Centers can be contracted as either P&L or cost-plus; often bundled with Tuition Benefit or Tuition Benefit + On-Site / Near-Site Centers Growing
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12 Established and Disciplined Approach to NCOs and M&A 14 22 11 37 11 9 12 2018 2019 2020 2021 2022 2023 2024 • Dedicated team of 50+ leveraging proprietary tools and a data-driven approach to expedite the identification and opening process • Rigorous underwriting process • Opportunity for greenfield in the premium segment under the Crème School brand # of New Center Openings (NCOs) Over Time # of Center Acquisitions Over Time • Highly fragmented market • M&A playbook indexed to quality • Able to build density and expand footprint • Attractive entry tuck-in multiples • Over 250 centers acquired from 2018 to 2024 Robust Greenfield Engine Proven M&A Playbook 158 3 2 12 55 11 23 2018 2019 2020 2021 2022 2023 2024
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13 Multiple Levers to Drive Long-Term High Single Digit Growth Occupancy Growth Pricing Power B2B Employer and Before- & After-School Opportunities Disciplined M&A Inorganic GrowthExpand Service Offerings OrganicallyBuilt-In Growth Drivers with Existing Service Offerings New Center Openings
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14 Shareholder Value Proposition Track record of strong same-center revenue growth Strong cash flow generation Predictable enrollments and pricing increases drive revenue visibility Embedded growth and margin expansion in existing fleet Platform approach creates operating leverage
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$161 $208 $266 $298 $63 $66 2021 2022 2023 2024 4Q23 4Q24 $1,808 $2,166 $2,510 $2,663 $618 $647 2021 2022 2023 2024 4Q23 4Q24 Notes: Some figures may not sum due to rounding. 1. Total revenue figures include revenue attributable to COVID-19 Related Stimulus. During the fiscal years ended December 28, 2024, December 30, 2023, December 31, 2022, and January 1, 2022, the Company recognized $0.4 million, $3.0 million, $2.0 million, and $6.2 million, respectively, in revenue from COVID-19 Related Stimulus. 2. Inclusive of KinderCare Learning Centers and Crème School brands. 3. Inclusive of Champions brand. 4. See appendix for reconciliation of non-GAAP measures 15 Historical Revenue & Adjusted EBITDA Revenue ($M) (1) ECE (2) $1,740 $2,054 $2,345 $2,466 $570 $593 Before & After (3) $67 $112 $165 $197 $48 $54 Adjusted EBITDA ($M) (4)
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16 Capitalization Summary Revolver availability $240.0 Less outstanding letters of credit (55.8) Plus unrestricted cash 62.3 Liquidity $246.5 Liquidity Profile ($M) (3) Scheduled Debt Principal Payments ($M) Notes: Some figures may not sum due to rounding. 1. Balance as of December 28, 2024. 2. See appendix for reconciliation of non-GAAP measures 3. Cash and outstanding letters of credit as of December 28, 2024. • Ample liquidity to execute strategic plan • No material near-term debt maturities • Corporate/Issuer ratings: B2/B+ • ~118 million shares of Common Stock issued and outstanding as of year-end December 28, 2024 First Lien Term Loan $926.0 Less unrestricted cash (62.3) Net debt $863.6 TTM Adjusted EBITDA(2) $298.1 Leverage Ratio 2.9x Leverage Profile (1) 2025 $9.7 2026 $9.7 2027 $9.7 2028 $9.7 2029 $7.3 Long Term $920.9
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Metric Revenue growth Adjusted EBITDA Margin Leverage Target 17 Long-Term Model Framework Long-Term Targets High Single Digits Mid-teens % <3.0x Drivers Occupancy rates and FTE growth; consistent pricing growth; modest market share gain and expansion in premium market; continued center and site expansion from NCOs, B2B and M&A Occupancy improvement and robust operating leverage supported by a scaling business Deleveraged post-IPO
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Appendix / Reconciliations
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APPENDIX 19 Key Performance Metrics December 28, 2024 December 30, 2023 Early childhood education centers 1,574 1,557 Before- and after-school sites 1,025 948 Total centers and sites 2,599 2,505 Three Months Ended Fiscal Years Ended December 28, 2024 December 30, 2023 December 28, 2024 December 30, 2023 Average weekly ECE FTEs 141,002 139,654 145,149 144,707 Three Months Ended Fiscal Years Ended December 28, 2024 December 30, 2023 December 28, 2024 December 30, 2023 ECE same-center occupancy 67.9% 66.9% 69.8% 68.9% Three Months Ended Fiscal Years Ended December 28, 2024 December 30, 2023 December 28, 2024 December 30, 2023(In thousands) ECE same-center revenue $ 582,371 $ 565,011 $ 2,427,673 $ 2,322,479 Total Centers and Sites Count Early childhood education centers Total December 30, 2023 1,557 Acquired +23 Opened +12 Closed (18) December 28, 2024 1,574 Before- and after-school sites Total December 30, 2023 948 Acquired - Opened +164 Closed (87) December 28, 2024 1,025
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20 (In thousands, except per share data) Income Statement Three Months Ended Fiscal Years Ended December 28, 2024 December 30, 2023 December 28, 2024 December 30, 2023 Revenue $ 646,956 $ 617,996 $ 2,663,035 $ 2,510,182 Costs and expenses: Cost of services (excluding depreciation and impairment) 513,695 467,025 2,032,513 1,824,324 Depreciation and amortization 30,213 28,463 117,606 109,045 Selling, general, and administrative expenses 188,915 67,370 423,063 287,967 Impairment losses 3,395 6,479 10,535 13,560 Total costs and expenses 736,218 569,337 2,583,717 2,234,896 (Loss) income from operations (89,262) 48,659 79,318 275,286 Interest expense 50,733 38,528 170,539 152,893 Interest income (2,249) (2,020) (7,369) (6,139) Other expense (income), net 101 332 (5,620) (1,393) (Loss) income before income taxes (137,847) 11,819 (78,232) 129,925 Income tax (benefit) expense (4,264) (3,008) 14,608 27,367 Net (loss) income $ (133,583) $ 14,827 $ (92,840) $ 102,558 Net (loss) income per common share(1): Basic $ (1.17) $ 0.16 $ (0.96) $ 1.13 Diluted $ (1.17) $ 0.16 $ (0.96) $ 1.13 Weighted average number of common shares outstanding(1): Basic 114,136 90,366 96,309 90,366 Diluted 114,136 90,366 96,309 90,389 APPENDIX Notes: 1. On October 8, 2024, the Company effected a common stock conversion, in which Class A and Class B common stock were converted to common stock at a ratio of 8.375 to one. The outstanding shares and per share amounts have been adjusted to retrospectively reflect the conversion.
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APPENDIX 21 Adjusted EBITDA Reconciliation (In thousands) Three Months Ended Fiscal Years Ended December 28, 2024 December 30, 2023 December 28, 2024 December 30, 2023 Net (loss) income $ (133,583) $ 14,827 $ (92,840) $ 102,558 Add back: Interest expense 50,733 38,528 170,539 152,893 Interest income (2,249) (2,020) (7,369) (6,139) Income tax (benefit) expense (4,264) (3,008) 14,608 27,367 EBIT $ (89,363) $ 48,327 $ 84,938 $ 276,679 Add back: Depreciation and amortization 30,213 28,463 117,606 109,045 EBITDA $ (59,150) $ 76,790 $ 202,544 $ 385,724 Add back: Impairment losses 3,395 6,479 10,535 13,560 Equity-based compensation 123,066 986 122,972 1,821 Management and advisory fee expenses 119 1,217 3,767 4,865 Acquisition related costs — 3 16 1,182 Non-recurring distribution and bonus expense — — 19,287 — COVID-19 Related Stimulus, net (4,049) (23,785) (69,732) (150,642) Other costs 2,595 1,213 8,734 9,872 Adjusted EBITDA $ 65,976 $ 62,903 $ 298,123 $ 266,382 Notes: See Consolidated Non-GAAP Measures table from March 20, 2025 earnings press release for add-back explanations.
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Notes: 1. Cash balances represent cash and cash equivalents and exclude restricted cash. 2. Revolver size of $140 million and $160 million in 2022 and 2023, respectively. As of December 28, 2024, total borrowing capacity under the Revolver was $240 million. 3. Debt figures exclude capital leases and debt issuance costs. Total debt balance as of December 28, 2024. 4. See appendix for reconciliation of non-GAAP measures. APPENDIX 22 Balance Sheet and Leverage $M As of December 31, 2022 As of December 30, 2023 As of December 28, 2024 Cash (1) $105 $156 $62 Revolver (2) - - - Total Debt (3) 1,359 1,250 926 Net Debt $1,254 $1,094 $864 Adjusted LTM EBITDA (4) $208 $266 $298 Net Debt / LTM Adjusted EBITDA 6.0x 4.1x 2.9x
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APPENDIX 23 Significant Potential for Occupancy Growth Across Fleet Quintile 2019 2024 2024 vs 2019 1st 74.8% 86.1% 11.3% 2nd 72.5% 81.3% 8.8% 3rd 69.8% 76.3% 6.5% 4th 63.8% 67.4% 5th 50.9% 54.3% Occupancy Rates of Quintiles Ranked by Center Profitability (1) 2023 87.2% 80.7% 75.4% 66.0% 49.4% 3.6% 3.3% Notes: 1. Quintile analysis ranks our centers by EBITDA levels and excludes Crème School and new ramping centers.
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CCDF Funding, $B 24 Resilient Subsidy Funding with Consistent Growth and Strong Bipartisan Support (1) Republican Control Democrat Control Complexity of Accessing Funds Remains a Challenge for Subscale Players and Families APPENDIX Notes: 1. Funding for federal subsidies is primarily provided through the Child Care and Development Fund (CCDF), authorized under the Child Care & Development Block Grant (CCDBG); excludes Head Start and other pre-K spend. 6.84 7.16 7.16 7.16 9.18 7.22 7.31 7.39 7.31 7.45 7.54 7.86 7.95 10.31 10.30 10.61 11.24 11.47 13.65 14.66 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 CCDF (Federal) CCDF (State)