AMMO Investor Presentation Deck
THE SPIN WILL CREATE VALUE FOR OUR SHAREHOLDERS
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Different Investor Bases: Outdoor Online ("OO") is a low capital intensity, high margin technology business;
Action Outdoor Sports ("AOS") is a manufacturing company with capital intensity, lower margins, strong cash
flow and proprietary products; by separating the businesses, each can attract its natural investor base
Management Focus: By creating two, focused businesses, the respective management teams can be
purpose-built to best support the specific operational needs and growth drivers of each separate company
Capital Deployment: Each company will be better positioned to refine and focus its capital allocation
strategy, including organic investments (by OO) the return of capital to shareholders (by AOS)
Capital Structure: The capital structure (including levels of leverage, for example) can be optimized once
the businesses are separated into two separate companies
ammo
INCORPORATED
Enhancement of Brand Strength: Separate public companies should enhance the recognition and growth of
each set of brands
Expanded Strategic Opportunities: AOS will be able to extend the company's well-established track record
as an attractive acquiror
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