Dutch Bros Results Presentation Deck

ANNUAL FINANCIALS 1 2 3 4 (UNITS) 538 271 267 2021 133 25% 125 46% 25.5% SHOPS 2021 671 396 275 Company-Operated 2022 150 22% Franchised (% OF COMPANY-OPERATED SHOP SALES) COMPANY-OPERATED SHOP CONTRIBUTION MARGIN 123 At least 130 Company- operated Outlook 24.6% 2022 ($M) ($M) $498 $404 $94 2021 $(118) $84 $241M 48% 2021 16.9% $236M 58% REVENUE Net Income $739 $640 Company-Operated $7M 8% $99 2022 NET INCOME AND ADJUSTED EBITDA $(19) $91 2022 12.3% $211M - $261M 29%-35% Adj. EBITDA Franchised $950M - $1B $34M 37% Outlook $125 Outlook Adj. EBITDA % 134 See appendix for a reconciliation to the most directly comparable financial measure stated in accordance with GAAP See appendix for breakdown of Company-operated Shop Contribution Refer to "Company-Operated Shop Results" section on our Earnings Release filed on Form 8-K, dated February 22, 2023 for the year ended December 31, 2022 regarding our revised historical results related to an immaterial error correction for employee sick leave. We have not reconciled guidance for Adjusted EBITDA to the corresponding GAAP financial measure because the various reconciling items are not available on a forward-looking basis. We are unable to determine the probable significance of reconciling items because certain items are outside of our control and vary significantly from period to period. Accordingly, reconciliation to the corresponding GAAP financial measure is not available without unreasonable effort. 5

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