Company participants Welcome to Hayward Holdings First Quarter 2023 Earnings Call. My name is Jordan, and I will be the operator for today's call. [Operator Instructions] Please note this conference is being recorded. Before we begin, I would like to remind everyone that during this call, the company may make certain statements that are considered forward-looking in nature, including management's outlook for 2023 and future periods. Such statements are subject to a variety of risks and uncertainties, includ ...

Sales and Market Segmentation - North America and Europe & Rest of World segments accounted for approximately 84% and 16% of total net sales for Fiscal Year 2022, respectively [27]. - The largest customer, Pool Corporation, represented approximately 35% of net sales in Fiscal Year 2022, with no other customer exceeding 10% [36]. - Approximately 50% of net sales are derived from non-discretionary products essential for pool operation [33]. - The average wholesale price of equipment per pool ranges from $1,800 for entry-level pools to well above $12,000 for premium pools [33]. - In Fiscal Year 2022, approximately 75% of residential pool equipment in the U.S. was sold through specialty distributors, 18% directly to retailers, and 7% to builders [43]. Supplier and Employee Relations - The company maintains relationships with approximately 700 suppliers, with an average relationship of over 15 years across the top 30 suppliers [38]. - The company employs approximately 2,000 full-time equivalent employees, with about 25% located internationally [55]. - In 2022, over 550 employee suggestions for improvements were implemented, reflecting a strong feedback culture [67]. Sustainability and Environmental Impact - The company’s environmentally sustainable products can conserve up to 92% more water than standard sand filters, allowing for higher pricing on key products [32]. - The company is committed to sustainability and has established four ESG pillars: Products, People, Planet, and Principles [65]. - The company maintains an ESG section on its website to provide transparency and detailed information to stakeholders [70]. - The company has been involved in investigation and remediation activities related to environmental contamination, which could lead to material future costs [123]. - The company’s operations may be impacted by climate change and related regulatory responses, potentially disrupting production capabilities and supply chains [133]. Financial Performance and Risks - The company has experienced material cost inflation due to the COVID-19 pandemic, impacting raw material prices and manufacturing costs [106]. - The principal raw materials include resins and metals, which are subject to commodity price fluctuations that could adversely affect the cost of goods sold [118]. - The company expects an increase in sales denominated in non-dollar currencies, which may introduce currency transaction risks [104]. - The company may face significant risks if unable to generate sufficient cash flow from operations to service its debt obligations [147]. - The company may require additional financing for operations or acquisitions, which may not be available on acceptable terms [154]. Debt and Capital Structure - As of December 31, 2022, the company's total indebtedness was approximately $1,121.0 million, including $1,109.7 million under the first lien term loan facility [145]. - The company has revolving loan commitments of up to $425.0 million under its asset-based lending facility, with a peak season commitment of $475.0 million [145]. - The company had approximately $208.4 million of undrawn lines of credit available under the ABL Facility as of December 31, 2022 [153]. - The agreements governing the company's indebtedness impose restrictions that may limit its ability to engage in beneficial actions, including incurring additional debt and making strategic acquisitions [149]. Intellectual Property and Compliance - The company holds approximately 209 issued U.S. patents and 231 issued foreign patents as of December 31, 2022, covering various technologies [52]. - The company has approximately 59 pending U.S. patent applications and 78 pending foreign patent applications, indicating ongoing investment in intellectual property [135]. - The company relies on third-party intellectual property for certain products, which may limit its competitive advantage if licenses are not available on commercially acceptable terms [142]. - The company may be subject to claims regarding the wrongful use of trade secrets or intellectual property, which could lead to ownership disputes and litigation [143]. - The company is subject to various governmental regulations, including those related to environmental protection and product safety, which may increase compliance costs [121]. Internal Controls and Reporting - The company identified material weaknesses in its internal control over financial reporting, which could affect the accuracy and timeliness of financial reporting [162]. - Remediation efforts for the identified material weaknesses include enhancing the internal control environment and implementing IT general controls [166]. - The company has not yet remediated the material weaknesses, and the effectiveness of the remediation plan cannot be guaranteed [168]. - The majority of the voting power in the election of directors is controlled by sponsors, which may limit stockholder protections [161]. - The company has not documented an effective control environment, contributing to the identified material weaknesses [162]. Market and Stock Performance - The stock price has been volatile and may fluctuate significantly due to various uncontrollable factors [173]. - Future sales of common stock may depress the stock price and dilute existing stockholders' rights [171]. - The company may face restricted access to capital markets if it fails to maintain effective internal controls [170].

Hayward Holdings Inc. (NYSE:HAYW) Q4 2022 Results Conference Call February 28, 2023 9:00 AM ET Company Participants Kevin Maczka - Vice President of Investor Relations Kevin Holleran - President, CEO and Director Eifion Jones - Senior VP and CFO Conference Call Participants Ryan Merkel - William Blair Jeff Hammond - KeyCorp Nigel Coe - Wolfe Research Rob Wertheimer - Melius Research Saree Boroditsky - Jefferies Michael Halloran - Baird William Carter - Stifel Rafe Jadrosich - Bank of America John Joyner - B ...

Financial Data and Key Metrics Changes - Net sales for Q3 2022 decreased by 30% year-over-year to $245 million, primarily due to channel inventory correction and softer conditions in certain markets [9][17] - Adjusted EBITDA for Q3 was $60 million, yielding a margin of 24.6%, with decremental EBITDA margins at 36% [9][20] - Full year 2022 net sales are now expected to decline approximately 6%, with adjusted EBITDA projected between $365 million and $370 million [8][27] Business Line Data and Key Metrics Changes - North America net sales declined 32% to $203.7 million, driven by a 47% reduction in volume, partially offset by a 12% price increase [21] - Europe and Rest of World net sales decreased 21% to $41.6 million, impacted by a 23% decline in volumes and geopolitical circumstances [22] Market Data and Key Metrics Changes - The US Sunbelt market showed strength, growing 36% faster than seasonal markets, while the Northeast US and Canada experienced softer trends [9][10] - Hayward captured approximately $130 million in market share since 2019, with further gains noted in the third quarter [9][10] Company Strategy and Development Direction - The company is focusing on realigning its cost structure to current conditions while prioritizing strategic growth investments, targeting a structural SG&A reduction of approximately 10% annually [8][12] - Continued emphasis on new product development, particularly in IoT-enabled controls and energy-efficient products, is expected to drive future growth [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term health of the pool industry, particularly in the aftermarket, despite current uncertainties in Europe and persistent inflation [27][28] - The company anticipates a decrease in consolidated net sales for 2022 but remains optimistic about market share gains and price realization [27][28] Other Important Information - The company has made significant progress in its ESG initiatives, completing its first Scope 1 and 2 emissions inventories [8] - Cash flow from operations was a source of $80 million in Q3, indicating strong free cash flow generation characteristics [24] Q&A Session All Questions and Answers Question: Thoughts on SG&A cuts and consumer weakness into 2023 - Management began cost actions in Q3, focusing on rightsizing factories and reducing SG&A by approximately $25 million to $30 million [31] Question: Expectations around demand environment - Retail pull-through remains high, with continued share gains in the marketplace, although new construction may soften [32] Question: Guidance for Q4 and inventory destocking - Q4 sales are expected to be in the range of high $250s to low $260s million, with continued focus on destocking [33] Question: Update on channel destocking - The company expects to largely complete channel destocking by the end of 2022, with an estimated reduction of $130 million to $135 million [36] Question: Pricing contributions in 2023 - A recent price increase of 4% to 5% will take effect in January, contributing to pricing benefits in 2023 [39] Question: Changes in revenue growth guidance - The updated guidance reflects higher channel correction and lower expectations in Europe, with a total decrement of around $70 million [42] Question: Supply chain and cost outlook - Sourcing has improved, but electronic components remain constrained; costs are still elevated due to a lag in price recognition [46] Question: Inventory management and cash flow - The company expects to generate cash from inventory reductions in Q4, aiming to normalize inventory levels into 2023 [51]

SECOND QUARTER 2022 EARNINGS July 28, 2022 © 2022 Hay ward Holdings, Inc. SECOND QUARTER 2022 EARNINGS CALL KEVIN HOLLERAN President and Chief Executive officer EIFION JONES Senior Vice President and Chief Financial Officer KEVIN MACZKA Vice President of Investor Relations NYSE: HAYW 9 HAYWARD® © 2022 Hay ward Holdings, Inc. Disclaimer SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains certain statements that are "forw ard-looking statements" as that term is defined under the Priva ...

Financial Data and Key Metrics Changes - The company reported net sales growth of 10% year-over-year to $399 million, following exceptional growth of 66% in the second quarter of 2021 [8][20] - Adjusted EBITDA grew 16% year-over-year to $128 million, yielding a 32% margin, an increase of 166 basis points over the prior year [8][25] - Gross profit increased to $189.4 million, a 13% year-over-year increase, with a gross profit margin of 47.4%, up 130 basis points [23] Business Line Data and Key Metrics Changes - North American net sales increased approximately 17% to $342.1 million, driven by a 19% favorable price impact [26] - European net sales decreased 19% to $57.4 million, impacted by a 20% decline in volumes due to geopolitical circumstances [28] Market Data and Key Metrics Changes - The company noted a significant market opportunity of over $6 billion in the aftermarket for IoT-enabled controls, salt chlorination, and variable speed pumps [14] - The installed base of in-ground pools in the U.S. has grown to approximately 5.4 million, creating a lifetime need for repair, replace, remodel, and upgrade [16] Company Strategy and Development Direction - The company is focused on digital leadership, dealer conversions, new products, operational excellence, and environmental sustainability as core growth drivers [10] - Recent acquisitions, including J&J Electronics and Sollos, are aimed at enhancing the product portfolio and market position [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth model for the pool industry, particularly in the resilient aftermarket [33] - The company anticipates a consolidated sales decline of 2% to 6% for the year, primarily due to channel inventory adjustments and lower sales forecasts for Europe [35][36] Other Important Information - The company has been recognized with the 2022 ENERGY STAR Partner of the Year Award for its commitment to energy efficiency [32] - Total liquidity at the end of the second quarter was $239 million, including $109 million in cash [30] Q&A Session Summary Question: Understanding the destock and its impact - Management indicated that more than half of the new guidance is related to channel inventory adjustments, with a recalibration of 4 to 6 weeks expected [43][44] Question: Demand trends and moderation - Management noted that while there is still year-over-year growth, volume has not met original expectations due to economic uncertainty and weather impacts [49][50] Question: Pricing and margin resilience - Management confirmed that cumulative price increases of around 24% globally have been implemented, and they do not anticipate further pricing actions for the remainder of the year [65][66] Question: Capital allocation and M&A strategy - The focus remains on organic growth, with a willingness to consider M&A opportunities if they arise, but the priority is on internal projects [68][69]

| --- | --- | --- | |---------------------------------------|-------|-------| | | | | | | | | | | | | | GOLDMAN SACHS | | | | INDUSTRIALS AND MATERIALS CONFERENCE | | | | May 10, 2022 | | | | | | | | | | | © 2022 Hay ward Holdings, Inc. GOLDMAN SACHS INDUSTRIALS AND MATERIALS CONFERENCE MAY 10, 2022 EIFION JONES Senior Vice President and Chief Financial Officer STUART BAKER Vice President of Business Development NYSE: HAYW 9 HAYWARD® © 2022 Hay ward Holdings, Inc. Disclaimer Forward-Looking Statements This ...

Financial Data and Key Metrics Changes - Net sales for Q1 2022 increased by 23% year-over-year to a record $410 million, following a 96% growth in Q1 2021 over Q1 2020 [10][21] - Adjusted EBITDA grew 18% year-over-year to a record $126 million, yielding a 31% margin [10][29] - Gross profit increased to $190.4 million, a 19% increase year-over-year, with a gross profit margin of 46.4%, down 144 basis points due to inflationary pressures [23][29] Business Line Data and Key Metrics Changes - North America net sales increased approximately 28% to $346.3 million, driven by a 19% favorable price impact and 8% higher sales volumes [31] - Europe and Rest of World net sales increased 2% to $64.2 million, benefiting from an 8% net price increase but impacted by a 6% unfavorable foreign currency effect [33] Market Data and Key Metrics Changes - Sales volume growth was driven by demand for pool equipment in North America, while Europe and Rest of World experienced muted growth due to geopolitical circumstances [22] - The company reported a significant increase in dealer participation in its loyalty program, indicating strong market engagement [15] Company Strategy and Development Direction - The company focuses on digital leadership, dealer conversions, new products, operational excellence, broad channel access, and environmental sustainability as core growth drivers [11] - A new facility in Europe was opened to enhance automation and sanitization technologies, doubling production capacity in these product lines [13] - The M&A strategy includes core pool product tuck-ins and backyard adjacencies, with three strategic acquisitions closed at the beginning of the quarter [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating inflationary pressures and supply chain challenges, implementing price surcharges to mitigate impacts [24][46] - The company anticipates net sales growth of 9% to 12% for the full fiscal year 2022, despite macroeconomic uncertainties [46][47] - Management highlighted strong demand in the aftermarket, which constituted 80% of total sales in 2021, as a key growth driver [44][76] Other Important Information - Cash flow from operations was a use of $56.9 million, an improvement from $131.6 million in the prior year [35] - Total liquidity at the end of Q1 was $443 million, including $118 million in unrestricted cash [37] Q&A Session Summary Question: Clarification on surcharges and guidance - Management indicated that surcharges may be rolled into structural price lists if inflationary pressures persist [52][53] Question: Signs of consumer spending slowing down - Management reported no cancellations and strong demand, with a robust order file [63][64] Question: Gross margin expectations for Q2 - Management expects gross margin expansion in Q2 due to pricing actions rolling off fixed price arrangements [65] Question: Pool builder backlog trends - Builders are quoting into 2023, indicating strong demand despite labor constraints [74] Question: Sensitivity to rising interest rates - Management believes the aftermarket will remain stable despite increased interest rates, as maintenance is often a non-discretionary decision [81][84] Question: Balance sheet usage and M&A opportunities - The company is actively engaged in M&A and has a robust pipeline for potential acquisitions [89] Question: Channel inventory expectations - Management noted that channel partners are in a better inventory position compared to previous years, with expectations for greater sell-out during the 2022 season [90][94] Question: Normal seasonality and Q2 expectations - Management indicated that Q2 is likely to be higher than Q1, reflecting normal seasonal trends [100] Question: Concerns for the second half of the year - Management expressed caution regarding supply chain and inflationary pressures, while remaining optimistic about strong consumer demand [103][104] Question: Dealer conversions and growth rates - Management confirmed ongoing dealer conversions contributing to growth rates in North America [106]

First Quarter 2022 Earnings © 2022 Hayward Holdings, Inc. 1 April 28, 2022 C HAYWARD® | --- | --- | --- | |-------|-------|-------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | First Quarter 2022 | | | | Earnings Call Kevin Holleran President and Chief Executive Officer Eifion Jones Senior Vice President and Chief Financial Officer | | | | Stuart Baker Vice President of Business Development NYSE: HAYW | © ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-40208 Hayward Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Ide ...