Celsius Holdings Investor Presentation Deck

GROSS PROFIT "NORMALIZATION" BY YEAR 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% As Reported 43.0% W/O Freight 2017 51.8% 40.0% 2018 50.4% CCH CELSIUS - Large competitors such as Monster exclude Out-Bound Freight as part of Cost of Sales - When "Normalized" on a comparable basis => Celsius Margins are north of 50%

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