Financial Data and Key Metrics Changes - Holley's net sales grew by 30% in Q4 2021, with 17% from acquisitions and 13% organic growth [8] - For the full year 2021, net sales increased by 37%, with 23% from acquisitions and 14% organic growth [8][27] - Gross margin improved from 39.4% in Q4 2020 to 41.6% in Q4 2021, attributed to pricing and higher sales volume [22] - Net income for Q4 2021 was a loss of $18 million, compared to a net income of $2 million in Q4 2020 [25] - Adjusted net income for Q4 2021 was $9 million, up from $2 million in 2020 [26] - Full year 2021 net loss was $27.1 million, compared to a net income of $32.9 million in 2020 [31] Business Line Data and Key Metrics Changes - Direct-to-consumer (DTC) sales were $113 million for the full year 2021, up 35% from 2020, representing 16% of total sales [11] - DTC sales growth is expected to continue at or above the overall business growth rate [12] Market Data and Key Metrics Changes - Holley hosted five consumer events in 2021 with total attendance of 93,000, showing an average annual attendance growth of 37% since 2015 [13] - The company launched the Holley High Voltage experience, targeting electric vehicle enthusiasts [14] Company Strategy and Development Direction - Holley aims to develop innovative products and deepen relationships with consumers [9] - The company has a robust pipeline of acquisition opportunities to expand into new markets [20] - Focus on enhancing digital capabilities to drive DTC revenues and consumer engagement [10][12] Management's Comments on Operating Environment and Future Outlook - Management noted strong consumer demand despite supply chain challenges [8] - The company expects to maintain solid gross profit margins through pricing strategies [9] - Guidance for 2022 projects net sales between $765 million and $790 million, with adjusted EBITDA between $186 million and $194 million [35] Other Important Information - Holley closed four acquisitions in Q4 2021, enhancing its product offerings [18] - The company is focused on integrating recent acquisitions to unlock profitability [67] Q&A Session Summary Question: Impact of recent acquisitions on sales and EBITDA - Management confirmed that the four acquisitions had a negligible impact on Q4 sales and EBITDA due to their timing [38] Question: Surprises in sales and operating expenses - Positive surprise in sales due to strong consumer demand; increased professional fees impacted OpEx [41] Question: 2022 guidance and margin expectations - Guidance implies flat EBITDA margins; management expects to balance increased SG&A with gross profit margin expansion [42][50] Question: Contribution of acquisitions to 2022 estimates - Estimated impact of $30 million from acquisitions in 2022 [46] Question: Pricing actions and their effects - Price increases were broadly applied; further off-cycle pricing actions will be evaluated based on cost pressures [49] Question: Trends in new versus old customers - Strong new customer acquisition; focus on enhancing digital capabilities for retention [61] Question: Changes in product categories and integration of acquisitions - Continued strength in fuel injection and electronic tuning categories; integration of AEM and other acquisitions is ongoing [66][67]

95 W. E MAKERS l a HOlley FOURTH QUARTER 2021 March 3, 2022 DISCLAIMER 1 Holley Certain statements in this presentation may be considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Holley's future financial or operating performance. For example, projections of future revenue and adjusted EBITDA and other metrics are forward-looking statem ...

Financial Data and Key Metrics Changes - Holley reported net sales of $159.7 million for Q3 2021, an increase of $26.3 million or 20% compared to Q3 2020, driven by acquisitions which contributed $29.8 million to growth [20][8] - Organic sales declined by $3.4 million, or 2.6%, impacted by a cybersecurity incident that deferred approximately $7 million in sales to Q4 2021 [20][10] - Gross margin decreased from 41.7% in Q3 2020 to 40.8% in Q3 2021 due to supply chain inflation and product mix [21] - Total selling, general and administrative expenses increased by 67% in Q3 2021, influenced by acquired expenses and higher shipping costs [22] - The company recorded a net loss of $30.2 million in Q3 2021, while adjusted net income remained flat at $13.5 million compared to Q3 2020 [24] Business Line Data and Key Metrics Changes - The direct-to-consumer (DTC) channel continued to be the fastest-growing segment, with strong demand across all channels despite the impact of the cybersecurity incident on reseller channels [45] - The company is focusing on continuous innovation to attract new customers and retain existing ones, with plans to implement loyalty programs in the future [39] Market Data and Key Metrics Changes - Holley faced challenges related to supply chain constraints and raw material inflation, prompting the company to implement more frequent price adjustments to protect margins [13][14] - The company is optimistic about the stabilization of supply chain issues, which is a key variable in their guidance for the remainder of the year [72] Company Strategy and Development Direction - Holley is pursuing a robust acquisition strategy to expand into new categories and enhance profitability, with recent acquisitions including Finspeed and Classic Instruments [16][35] - The company aims to deepen its emotional connection with consumers through events and community engagement, hosting record attendance at consumer events [17][18] - Holley is also exploring opportunities in the electric vehicle (EV) market, recognizing growing consumer interest in performance-oriented EVs and powertrain conversions [85] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong demand for products, driven by engaged enthusiast consumers and a positive industry growth outlook [30] - The company reiterated its annual guidance for net sales in the range of $648 million to $663 million, with pro forma adjusted EBITDA projected between $165 million and $170 million [25] Other Important Information - The company is taking steps to enhance cybersecurity measures to prevent future incidents, working with strategic technology partners [12] - Holley is actively monitoring global supply chain and raw material cost projections, which have influenced recent pricing actions [21] Q&A Session Summary Question: Market demand and durability - Management indicated strong demand for products, with a positive outlook for future growth driven by engaged consumers [30] Question: Future acquisition strategies - The company is targeting underpenetrated categories and expanding into adjacent markets, with a robust pipeline of acquisition opportunities [33][35] Question: Organic growth drivers - Continuous innovation and the development of a digital ecosystem are key strategies to attract and retain customers [39][42] Question: Performance across sales channels - DTC remains the fastest-growing channel, with strong demand across all channels despite challenges faced by resellers [45] Question: Pricing strategy and consumer reaction - The company is implementing more frequent price adjustments while maintaining positive consumer feedback on pricing strategies [52][54] Question: Cybersecurity incident remediation efforts - Management is enhancing monitoring and backup systems to prevent future attacks, with a modest increase in SG&A expenses anticipated [55] Question: Gross margin decline factors - The decline in gross margin is attributed to increased shipping costs and product mix, with container shipping costs being a significant pressure point [61][62] Question: Supply chain and inventory management - Supply chain stabilization is crucial for meeting guidance, with improved inventory positions being monitored closely [72][73] Question: M&A appetite and pipeline - The company has a robust pipeline for future acquisitions, focusing on expanding total addressable market and entering new categories [76][77] Question: Inflation impact on costs - Cost pressures are primarily from components and shipping, with pricing actions taken to maintain gross margins above 40% [82] Question: EV market demand - Management noted growing interest in performance-oriented EVs and powertrain conversions, viewing it as a strategic opportunity for future growth [85]

(MARK ONE) Table of Contents Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39599 HOLLEY INC. (Exact Name of Registrant as Specified in Its Charter) 001-39599 (Commission File Numb ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File No. 001-39599 EMPOWER LTD. (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or other ...