#1weber Investor Presentation FYQ2 2022 (Quarter Ended March 31, 2022) SAK#2DISCLAIMER weber This presentation has been prepared by Weber-Stephen Products LLC (together with its subsidiaries, "Weber" or the "Company") for the exclusive use of the party to whom the Company delivers this presentation (such party, together with its subsidiaries and affiliates, the "Recipient"). Although the Company believes the information is accurate in all material respects, the Company does not make any representation or warranty, either express or implied, as to the accuracy, completeness or reliability of the information contained in this presentation. Any estimates or projections contained in this presentation as to events that may occur in the future (including projections of future financial performance and forward looking statements) are based upon the reasonable judgment of the Company. The presentation may include certain forward looking statements and projections provided by the Company, which are included in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements and projections reflect various intentions, estimates and assumptions by the Company, including with respect to anticipated results. Although the Company believes such statements and projections are reasonable, no representations or warranties are made by the Company as to the accuracy of any such statements or projections. Whether or not any such forward looking statements or projections are in fact achieved will depend upon future events, some of which are not within the control of the Company. Accordingly, actual results may vary from the projected results and such variations may be material. Statements contained herein describing documents and agreements are summaries only and such summaries are qualified in their entirety by such documents and agreements. Nothing contained herein is, or shall be relied upon as, a promise or representation as to the past or future. The Company expressly disclaims any and all liability relating to or resulting from the use of this presentation. In addition, the information contained in this presentation is as of the date hereof, and the Company has no obligation to update such information, including in the event that such information becomes inaccurate. This presentation has been prepared for informational purposes only. The Recipient should not construe the contents of this presentation as legal, tax, accounting or investment advice or a recommendation. The Recipient should consult its own counsel and tax and financial advisors as to legal and related matters concerning the content herein, and, by accepting this presentation, the Recipient confirms that it is not relying upon the information contained herein to make any decision. This presentation does not purport to be all-inclusive or to contain all of the information that the Recipient may require. The Recipient agrees that it shall use reasonable precautions in accordance with its established procedures to keep the presentation and all information contained herein confidential. Material incorporated in this presentation is subject to the terms of the previously executed confidentiality agreement between the parties. In this presentation, Weber sometimes uses financial measures derived from consolidated financial data but not presented in our financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP"), and these financial measures may exclude items that are significant in understanding and assessing the Company's financial results. Certain of these data, including, but not limited to adjusted operating income, EBITDA, and adjusted EBITDA, are considered "non-GAAP financial measures" under the SEC rules. These non-GAAP financial measures supplement Weber's GAAP disclosures, are subject to inherent limitations, and should not be considered in isolation or as an alternative to GAAP measures. Management believes that such measures are commonly reported by companies and widely used by investors as indicators of a company's operating performance. Where applicable, reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures will be provided in the appendix. You should be aware that the Company's presentation of these measures may not be comparable to similarly-titled measures used by other companies. This presentation also includes certain projections of non-GAAP financial measures. Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, the Company is unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included and no reconciliation of the forward-looking non-GAAP financial measures is included. 2#3OUR MISSION To lead the outdoor cooking industry by innovating breakthrough new products and services that enhance our global consumers' grilling experiences. OUR PURPOSE To ignite inspiration and discovery through everything we do, at every touch- point with our consumers. Grilling is about making delicious food, bringing people together and creating memories. Weber is an experience, a passion, a way of life and a journey to discover what grilling can be. 3#4WEBER AT A GLANCE INVESTMENT HIGHLIGHTS ♦ Iconic global brand and market leader with unmatched scale and brand awareness Massive community of enthusiasts supported by deep bonds with generations of Weber owners and their families Leader in product development and innovation with exceptional quality as well as focus on connected products ♦ Diversified global revenue base with a broad distribution network Global manufacturing footprint and world-class supply chain, fueled by "Make Where We Sell" strategy Robust financial profile, built for any economic cycle, driven by sustainable gross margins, EBITDA and free cash flow generation Highly experienced management team with an established track record leading global consumer brands % of 2021A Revenues Gas Charcoal BY CATEGORY copert Pellet, Electric, & Other uther connect REVENUE SNAPSHOT Grills 75% $2bn FY2021 Revenue 77 Countries Where Products Are Sold¹ Accessories & Consumables ~4mm Total Social Media Followers¹ 25% 140 w connect % of 2021A Revenues KEY METRICS 15.5% FY2021 Adj. EBITDA Margin5 BY GEOGRAPHY 80%+ Global Brand Awareness³ 55mm Global Weber Grill Installed Base APAC 8% EMEA 37% weber Americas 55% $307mm FY2021 Adj. EBITDA5 24% Global Market Share² 91% Global Satisfaction Score4 Source: Company Information and Projections. ¹ As of 31-Mar-2022. 2 Frost & Sullivan survey as of April 2021. 3 MetrixLab Brand Health & Habits, Late June 2020 for the U.S., Germany, Canada and France. 4 Weighted average of FYQ2 2022 regional ZenDesk and Mitel post-service interaction surveys. 5 Please see appendix for a reconciliation from GAAP to Non-GAAP figures. 4#5CONSISTENT GROWTH THROUGHOUT OUR HISTORY Weber has demonstrated 40+ years of consistent growth and has the runway for future success. Weber Annual Revenues 1980 - 2021A SALES (USD IN MM) $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 Since 1980, approximately 10% revenue CAGR Source: Company information. Note: Fiscal year end. USD in mm. weber $37 Titl $0 I '80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 YEARS $1,982 5#6STRATEGIC GROWTH PRIORITIES 1. Introduce Disruptive Products 2. Accelerate DTC Revenue 3. Expand Customers and Revenue Streams 4. Expand in Emerging Geographies 5. Execute Operational Initiatives weber 6#71 weber Brand and Product#8OUR HISTORY & LEGACY OF INNOVATION 1952 WEBER ORIGINAL KETTLE George Stephen Sr. cuts a metal buoy in half and fashions a dome shaped grill with a rounded lid and the classic original Weber kettle grill was born Source: Company Information. 1961 WEBER SMOKEY JOEⓇ KETTLE A travel-sized Weber Kettle is introduced for camping, picnicking and beach trips 2020 SMOKEFIRE WOOD FIRED PELLET GRILL Weber's innovative take on pellet grilling, the Smoke Fire Wood Fired Pellet Grill offers best-in-class flavor, temperature versatility and Weber Connect technology 2021 GENESIS AND SPIRIT EX / SX SMART GAS GRILLS These first-of-their-kind smart gas grills combine Weber Connect technology with decades of grilling expertise and know-how 1981 SMOKEY MOUNTAIN COOKER A favorite of pit bosses everywhere, the Smokey Mountain Cooker has a water chamber which stabilizes smoking temperature and adds humidity 148 2020 WEBER CONNECT™ SMART GRILLING HUB Weber Connect technology brings Wi-Fi/ Bluetooth and smartphone-enabled capabilities to grilling, for perfectly grilled food every time 2021 WEBER TRAVELER™M GRILL Weber introduces the Weber Traveler™ Grill, a portable grill with a large grilling surface and low-to-high temperature ranges for cooking different foods, and features a one-handed set up and fold down mechanism 1985 WEBER GENESIS GAS GRILL A Revolutionary line of gas grills, with a patented cooking system that provides even heat and introduces numerous signature features. Genesis quickly becomes Weber's flagship product line 2018 WEBER PULSE ELECTRIC Introduced the all-electric Pulse, a compact grill designed for tight outdoor spaces like terraces and balconies. A "lid- down design ensures even heat and infused flavor 2022 WEBER GENESIS Weber reinvents the Genesis gas grill line with Weber Connect smart technology, high heat proprietary Pure Blu burners, extra large sear zone, Night Vision motion sensor lighting and compatible Weber Crafted Outdoor Kitchen accessories. 1995 WEBER SPIRIT GAS GRILL Designed for smaller backyards and living spaces, the Spirit Gas Grill makes grilling accessible to more people worldwide 2016 WEBER SUMMIT® CHARCOAL Envisioned as a new class of charcoal grills, the Summit® combines the best features of Weber Kettle with Smokey Mountain lines 2022 WEBER CRAFTED This line of accessories enables an outdoor kitchen, right at the grill. Six custom-fit, large format cooking pieces transform a Weber grill into a pizza oven, stir-fry station, flat top grill, rotisserie oven, and more. Over 70 Years of Outdoor Cooking Innovation 1999 WEBER SUMMIT® GAS GRILL The Weber Summit line is introduced, with a focus on commercial-grade construction ideal for cooking gourmet foods weber 2003 WEBER QⓇ Engineers worked for years to perfect the Weber Q's burner system and components. The series also saw the introduction of Weber's first electric grill What's Next? 8#9ICONIC GLOBAL BRAND WITH DIVERSIFIED REVENUE BASE weber 74% Brand Awareness2 weber LEADER IN THE TOP 5 OUTDOOR COOKING MARKETS ¹ 87% Brand Awareness2 0 weber 76% Brand Awareness2 weber We are the most recognized brand in the outdoor cooking industry and only global manufacturer and distributor in the industry with leading market share in nearly every product sub-category across geographies 86% Brand Awareness² weber 89% Brand Awareness² #1 weber 77 Market share in each of the top 5 outdoor cooking markets FYQ2 growth over 26% prior year quarter in emerging countries Countries with presence Source: Frost and Sullivan as of 21-Apr-2021. 1 Reflects Global Serviceable Addressable Market (SAM) that Weber addresses with current product verticals. Includes gas grills, charcoal grills, wood pellet grills, electric grills, smokers, grill accessories and solid fuel products. 2 MetrixLab Brand Health & Habits, Late June 2020 for all countries except Australia (as of November 2020). 9#10BROAD PRODUCT PORTFOLIO ACROSS FUEL TYPES & PRICE TIERS weber Gas Q MPICTS connect Traveler Spirit Charcoal Smoker Source: Company Information. (- connect Genesis weber connect Summit Smokey Mountain Cooker Charcoal Smokey Joe Kettle Master Touch Performer Summit Kamado Wood Fired Pellet connect SmokeFire wher connect Electric 140 0 connect GONZE ureber PULSE Accessories, Consumables and Services Q Electric Smart Tools & Cleaning Grilling Hub Cookware Pulse Uncompromising approach to exceptional product performance and quality fuels Weber brand loyalty 198 Gift Card Gear & Gifts தமி Carts & Covers webers connect webere connect 225 Fuel 10#11■ ■ ■ INNOVATIVE NEW PRODUCT ENGINE: FY2022 RELEASES 140 weber WEBER CONNECT UPDATE Dedicated recipe browsing experience 180+ new recipes and cook programs Expanded vegetarian and pescatarian options Source: Company Information. VEGETABLES ■ NEW GENESIS 350 WEBER CRAFTED OUTDOOR KITCHEN COLLECTION Resting timer Low fuel and low battery warnings ■ BEER ROASTED CHICKEN 29:18 I High heat proprietary PUREBLU burners ■ Extra-large sear zone Large side table for prep and serving I NIGHTVISION motion- sensor lighting package Expandable top cooking grate Connect Models Available ueber SMOKEFIRE: STEALTH EDITION Leading the market with a robust new product pipeline Sleek, modern all-black edition Integrated Weber Connect technology ■ WEBER CRAFTED Outdoor Kitchen Collection. Built-in lighting system for overnight cooks ■ ■ weber WEBER CRAFTED: OUTDOOR KITCHEN COLLECTION Transforms a Weber grill into a versatile outdoor kitchen Versatility Option to create an entire meal with multiple cook surfaces Top cooking grate provides second level of capacity ■ Compatibility Weber Legacy Grills: Genesis Spirit ■ Smokefire 11#1212 2 weber Channels and Supply Chain#13POWERFUL, BALANCED OMNI-CHANNEL STRATEGY ♦ ♦ Network of leading global retailers of 4,710 retailers with 31,690 physical locations Network of 2,300 independent and specialty retailers WHOLESALE THE 80% of FY21 Revenues DEPOT HOME (Pan-American) ACE Hardware (Global) Global Retailers TrueValue (Global) OBI (Pan-European) Source: Company Information. LOWE'S (North America) Walmart (Global) COSTCO EWHOLESALE (Global) BAUHAUS (Pan-European) Our global digital platform Weber.com Global network of -200 Weber branded retail stores and Weber Grill Academy sites. wher Gas Grills DTC 7% of FY21 Revenues Weber.com SHE WOOD PELLET Built to Explore a Great Range of Flavor TRASPUy to sea, grusband weber STORE BBQ FIRE Charcoal Grills Find Your Perfect Grill Weber Stores & Weber Grill Academy Sites table weber-ORIGINAL SIVE THE ATY FRE GUR NEWPPAS E-COMMERCE ♦ ♦ Online platforms of global retailers Digitally native retailers such as Amazon and Wayfair 13% of FY21 Revenues Retailer.com LOWE'S weber Digitally Native Retailers THE DEPOT HOME amazon *wayfair 13#14AND DISTRIBUTION DIVERSIFIED GLOBAL MANUFACTURING FOOTPRINT, FUELED BY "MAKE WHERE WE SELL" STRATEGY Our "Make Where We Sell" Operational Benefits 1. Reduced manufacturing and transportation costs 2. Deliver working capital efficiencies 3. Continuous improvement in quality and cost performance 4. Improve customer service and response time 5. Further diversify our global manufacturing footprint Owned Manufacturing and Distribution HUNTLEY, IL Manufacturing Sq. Ft: 621k Global Distribution Center Sq. Ft: 757k ZABRZE, POLAND Sq. Ft: 486k Strategic Focus Source: Company Information. (1) "Global manufacturing facilities" include both facilities operated by Weber and those pursuant to third party contract manufacturing agreements. Key Stats Major grill company that Only maintains a significant US- based manufacturing footprint) Global manufacturing facilities (1) 22 14 Distribution facilities weber worldwide Poland Plant Overview Distribution partners in 11 countries globally In 2019, Weber broke ground on a new manufacturing and distribution facility in Poland . Completed in October 2021, today the Poland facility produces Kettle and Q lines for distribution in the EMEA market . Given the significant cost savings generated to-date, Weber is accelerating startup of standup gas production to support both US and EMEA markets by FYQ4 '22 300k square foot expansion underway to allow for additional manufacturing lines as well as a full-service distribution center for the region 14#153 weber Financials#16FYQ2 2022 REVENUE RESULTS ($ in millions) ($ in millions) $235 $451 FYQ2 2019 AMERICAS 1 Year Growth: -18% 2-Year Stack (2020-2022): +41% $373 $306 FYQ2 2022 $427 FYQ2 2020 $179 TOTAL NET SALES ΕΜΕΑ FYQ2 2020 1 Year Growth: +9% 1 Year Growth Excl. Impact of FX 2: +16% 2-Year Stack (2020-2022): +47% $246 $654 FYQ2 2021 FYQ2 2021 FYQ2 2020 FYQ2 2021 Note: Company information. Fiscal year end September 30th, ¹Of the year-over-year 2022 to 2021 total net sales reduction, foreign exchange accounted for $20mm, driven by U.S dollar strength against the Euro and Australian dollar. 2Of the year-over-year 2022 to 2021 EMEA net sales reduction, foreign exchange accounted for $18mm. 3Of the year-over-year 2022 to 2021 APAC net sales reduction, foreign exchange accounted for $2mm. $268 FYQ2 2022 $14 1 Year Growth: -7% 1 Year Growth Excl. Impact of FX ¹: -4% 2-Year Stack (2020-2022): +46% 3-Year Stack (2019-2022): +35% $607 FYQ2 2022 FYQ2 2020 APAC 1 Year Growth: -6% 1 Year Growth Excl. Impact of FX ³: 0% 2-Year Stack (2020-2022): +157% weber $36 FYQ2 2021 $34 FYQ2 2022 16#17FYQ2 2022 PROFITABILITY RESULTS ($ in millions) Gross Margin 43.7% $286 FYQ2 2021 GROSS PROFIT Gross Margin Increase from FYQ1 to FYQ2: +12% (from 22.6% to 34.3%) Note: Company information. Fiscal year end September 30th, 1 Please see appendix for a reconciliation from GAAP to Non-GAAP figures. 34.3% $209 FYQ2 2022 ($ in millions) Adj. EBITDA Margin¹ 22.8% $149 ADJUSTED EBITDA 1 FYQ2 2021 14.2% $86 FYQ2 2022 weber 17#18GROSS MARGIN IMPACT OF SUPPLY CHAIN DYNAMICS 43.6% GROSS MARGIN BRIDGE: FY21 Q1 VS. FY22 Q1 VS. FY 22 Q2 Illustrative Impact Q1 21 Actuals Pricing Illustrative Headwind Inbound Freight Illustrative Headwind Illustrative Headwind Note: Fiscal Year ending September 30. Price Increase Announce Date P&L Impact 22.6% Commodity / Other Q1 22 Actuals Pricing Purchased Goods Cost Sep ¹21 FY'Q1/Q2 Illustrative Impact Feb '22 FY'Q3/Q4 Illustrative Impact +1,170bps Sequential Improvement 60-90 Day Lag in Realization of Implemented Pricing Action Delays Margin Recovery in Current Inflationary Environment 34.3% Poland Q2 22 Actuals Impact and Other Run-Rate FY'Q3/Q4 I ♦ Q1 FY22: Decline of -2,100bps vs. Q1 FY21 due to: Significant inbound freight and input cost inflation Prior pricing actions offsetting some inflation impact, but enactment timing leading to inability to fully cover margin pressure ■ I weber Q2 FY22: Increase of -1,170bps vs. Q1 FY22 due to: Full positive impact of pricing actions taken in September 2021 I GROSS MARGIN DRIVERS ■ Favorable Poland plant results and positive impact of other tactical initiatives ■ Stabilization of inbound freight increases, albeit still at container rates up 3-4x prior year levels FY22: Continued sequential margin improvement Positive impact of pricing taken in February 2022 to take hold in FYQ3/Q4 Continuation of positive impact from Poland plant and other tactical initiatives 18#19FY2022 GUIDANCE (AS OF MAY 16, 2022) Metric Net Sales Adjusted EBITDA Outlook $1.65 billion to $1.80 billion $140 million to $180 million weber Source: Company Information. Fiscal year end September 30th, Note: Weber provides net sales guidance on a GAAP basis and Adjusted EBITDA on a non-GAAP basis and does not provide a reconciliation of forward-looking Adjusted EBITDA (non-GAAP) to GAAP net income (loss), due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. Because other deductions (such as litigation and other matters) used to calculate projected net income (loss) can vary dramatically based on actual events, the Company is not able to forecast on a GAAP basis with reasonable certainty that all deductions and additions needed in order to provide a GAAP calculation of projected net income at this time. The amount of these deductions may be material and, therefore, could result in projected net income being materially more or less than projected Adjusted EBITDA (non-GAAP). These statements represent forward-looking information and represent a financial outlook, and actual results may vary from the estimates provided here. 19#204 weber Appendix 11#21NON-GAAP RECONCILIATION (dollars in thousands) Net (loss) income Adjustments: Interest expense, net Income tax expense Depreciation and amortization EBITDA Stock/unit-based compensation expense (¹) Business transformation costs (²) Operational transformation costs (3) Financing and IPO costs (4) COVID-19 costs (5) Loss from early extinguishment of debt Gain on disposal of assets held for sale Other expense Adjusted EBITDA Net sales Adjusted EBITDA Margin Three Months Ended March 31, 2022 (51,313) $ 17,015 67,224 15,496 48,422 $ 22,190 7,272 7,190 877 434 86,385 $ 607,294 $ 14.2% Notes: 1. See Note 11 to our condensed consolidated financial statements for further information. 2. "Business transformation costs" are costs for business transformation initiatives that require severance or other costs to transition to a new operating model. 2021 68,910 17,276 15,223 10,562 111,971 29,051 2,053 4,835 945 453 149,308 654,431 22.8% 3. "Operational transformation costs" are defined as restructuring and transformation initiatives related to supply chain, operational moves and startups that are designed to enable future productivity. These costs also include significant non-capitalizable systems integration costs, as well was plant shutdown and closure costs that will drive future efficiencies. 4. "Financing and IPO costs" include non-capitalizable costs relating to the Company's Secured Credit Facility, the Company's IPO and other financing costs. 5. During the six months ended March 31, 2021, the Company incurred costs related to the global COVID-19 pandemic. These costs primarily resulted from the impact of enhanced employee safety and social distancing protocols. weber 21