Callaway Investment Thesis and Business Transformation Overview

WELL-POSITIONED TO UNLOCK EMBEDDED GROWTH Callaway • • • • TOPGOLF Q4 2021 same venue sales¹ +6% over 2019 levels Clear visibility into venue pipeline into 2024 Engaging a global audience through digital games Co-branding on Tour to drive more experienced golfers to venues Leverage proprietary customer data to explore new opportunities to target consumers Created clear competitive advantage in Venues business and have a clear path to create the same advantages for Toptracer Range business Significant cash generation leading to less funding needed from Callaway • • GOLF EQUIPMENT Multi-year increase in consumer spending expected with new entrants to the sport Opportunity to increase price on 2022 new launch products Historically low inventory levels at retail Opportunity to continue to gain share in all categories, especially golf ball R&D spend, trend towards custom fitting, U.S. green grass account base of well over 10,000 all favor the largest OEMs Ability to leverage Toptracer Range and Topgolf Venue consumers to drive incremental revenue • APPAREL TravisMathew expansion into key accounts and category expansion opportunities Jack Wolfskin reinvigorated brand strength and direct-to-consumer growth Continued international expansion of Travis Mathew and Jack Wolfskin brands in non- core markets Jack Wolfskin positioned to continue to grow and benefit from strong presence in DACH and China regions Expanded owned Callaway apparel business in Asian markets Introducing concept shops at Topgolf venues TOPGOLF TOPTRACER TOPGOLF TOPGOLF VENUES MEDIA Callaway Jack Wolfskin ៣ travis Mathew DIVERSIFIED PORTFOLIO WITH SIGNIFICANT SCALE AND DEMONSTRATED ABILITY TO BE FLEXIBLE AND PERFORM UNDER VARIOUS OPERATING CONDITIONS 1. Same venue sales represents sales for the comparable venue base, which is defined as the number of company-operated venues with at least 24 full fiscal months of operations. 0 OGIO® Callaway 6

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