Investor Presentaiton

Non-GAAP Financial Measures Adjusted EBITDA is defined as Net Income before other income, interest, taxes, and depreciation and amortization, excluding the non-recurring and non-cash items referenced above. We calculated "Adjusted EBITDA margins" as Adjusted EBITDA divided by net sales. Vista Outdoor management believes adjusted EBITDA margin provides investors with an important perspective on the Company's core profitability and helps investors analyze underlying trends in the Company's business and evaluate its performance on an absolute basis and relative to its peers. Adjusted EBITDA margin should be considered in addition to, and not as a substitute for, GAAP net income margin. Vista Outdoor's definition may differ from that used by other companies. Three months ended June 25, (in thousands) Segment operating income Corporate costs and expenses (1) Operating Income Other income, net Interest expense, net Income tax Net Income (in thousands) Segment operating income Corporate costs and expenses (1) Operating Income Other income, net Interest expense, net Income tax Net Income (in thousands) Segment operating income Corporate costs and expenses (1) Operating Income Other income, net Interest expense, net Income tax Net Income OVISTA OUTDOOR 2023 $114,988 (22,802) $92,186 (541) (16,218) (17,327) $58,100 Three months ended June 26, 2022 Three months ended September 25, 2022 Three months ended December Three months ended March 31, Fiscal year ended March 31, 2023 25, 2022 2023 $203,772 (31,347) $163,281 (32,113) $131,410 (34,724) $116,191 (408,614) $614,654 (506,798) $172,425 $131,168 $96,686 ($292,423) $107,856 741 639 (6,310) (13,934) (40,100) (24,519) $126,015 $93,456 (18,953) (13,225) $65,147 744 (20,120) 17,464 2,124 (59,317) (60,380) ($294,335) ($9,717) Fiscal year ended Fiscal year ended March 31, 2022 March 31, 2021 $764,909 $360,656 (118,687) (87,694) $646,222 $272,962 11,996 (25,264) (25,574) (147,732) 6,628 $473,226 $266,012 I non-recurrin (1) Includes corporate overhead and certain non-recurring items as described in the schedules to these slides. 37

View entire presentation