Financial Data and Key Metrics Changes - Net sales increased by 42% to $247.6 million compared to $174.4 million in the prior year period, marking the highest growth rate since going public [50][12] - Adjusted net income rose to $33.3 million or $0.38 per diluted share, compared to $9.9 million or $0.11 per diluted share during the prior year period [60] - Gross profit increased by 57% to $145.2 million, with gross margin expanding by 560 basis points to 58.6% [56][14] Business Line Data and Key Metrics Changes - Direct-to-consumer sales grew by 59% to $126.8 million, representing 51% of net sales, up from 46% in the previous year [51][52] - Wholesale net sales increased by 27% to $120.8 million, driven by strong growth in both Coolers & Equipment and Drinkware categories [53] - Drinkware net sales rose by 32% to $148.9 million, while Coolers & Equipment net sales surged by 57% to $93.5 million [54][55] Market Data and Key Metrics Changes - International net sales grew by 146% to reach 9% of total net sales, with significant contributions from Australia, Canada, and Europe [56][41] - The international business saw a more than threefold increase in Australia, reflecting strong demand and brand acceptance [41][43] Company Strategy and Development Direction - The company is focused on digital-led growth, emphasizing digital demand creation, product launches, and data analytics [11][10] - YETI aims to expand beyond its $1 billion base, with a top-line outlook increase to 20% to 22% for the full year [17][63] - The brand is committed to sustainability and has joined the Outdoor Industry Association's Climate Action Corp to measure and reduce greenhouse gas emissions [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the brand and product demand, despite ongoing supply chain pressures [48][16] - The company anticipates strong sales growth in Q2, with continued double-digit growth expected in the latter half of the year [63][64] - Management highlighted the importance of maintaining a healthy inventory position to meet rising demand [81][85] Other Important Information - The company launched a new collection of bags, which received positive market feedback and is seen as a significant growth opportunity [31][95] - YETI's marketing efforts have focused on brand awareness and product education, utilizing both digital and traditional channels [20][19] Q&A Session Summary Question: Inventory management and future flows - Management indicated that while inventory is down 9% year-over-year, there was a 31% sequential increase from Q4, and they expect positive inventory growth moving forward [81][82] Question: International market growth and margin composition - Management noted that the margin profile in international markets is similar across Canada, Australia, and Europe, with expectations for continued growth [83][84] Question: Luggage launch and inventory concerns - Management acknowledged challenges with stock levels for new products but emphasized a measured approach to ramping up supply [117][118] Question: Cooler business momentum - Management confirmed strong performance in the cooler category, driven by both new and returning customers, with a balanced acquisition strategy [100][99] Question: Long-term gross margin outlook - Management stated that there is no ceiling on gross margins, with expectations for continued improvement driven by channel mix and product cost efficiencies [104][102]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-K ________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 2, 2021 OR ☐ 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 001-38713 ________________________ ...

Financial Data and Key Metrics Changes - In Q4 2020, net sales increased by 26% to $375.8 million compared to $297.6 million in the prior year period, exceeding expectations [43] - Full year net sales grew by 19% to $1.09 billion, surpassing the initial outlook of 13% to 15% sales growth [42][43] - Adjusted EPS grew by 70% for the quarter and 76% for the year, reaching $0.74 per diluted share for Q4 and $1.87 for the full year [16][52] Business Line Data and Key Metrics Changes - Direct-to-consumer (DTC) sales grew by 46% in Q4 and 50% for the full year, reaching 58% of net sales in Q4 [15][44] - Wholesale net sales increased by 6% in Q4 but decreased by 3% for the full year due to COVID-19 impacts [46] - Drinkware net sales rose by 23% in Q4 and 19% for the full year, while Coolers & Equipment net sales increased by 31% in Q4 and 21% for the full year [47][48] Market Data and Key Metrics Changes - International business grew by 81% in Q4, with a mix of 6% for the full year, indicating strong demand despite retail disruptions [16][36] - Canadian DTC business saw triple-digit growth, while Australia also experienced triple-digit growth in Q4 [36] Company Strategy and Development Direction - The company plans to focus on digital brand storytelling, product development, and international expansion in 2021 [14][20] - Sustainability will be a key focus, with initiatives to enhance product durability and environmental impact [22] - The company aims to leverage its strong DTC performance while rebuilding wholesale inventory and expanding its market presence [34][36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2021, citing strong consumer demand for outdoor and active pursuits [40][65] - The company anticipates a slight decline in adjusted operating margin to approximately 20% for the year, following significant improvements in 2020 [62] - The effective tax rate is expected to be around 24.5% for fiscal 2021, with adjusted EPS projected to grow by 13% to 15% [63] Other Important Information - The company paid down $150 million in debt during the year, resulting in a net cash position as cash on hand exceeded total debt [42][54] - Inventory declined by 25% to $140.1 million, with expectations for improvement throughout 2021 [53] Q&A Session Summary Question: What is the outlook for gross margin and leverage? - Management indicated that gross margin is expected to be flat due to reinvestment in products and rebuilding wholesale inventories [69] - Discussions about optimal capital structure and potential cash returns to shareholders are ongoing [71] Question: How is the inventory rebuild expected to progress? - Inventory is expected to improve sequentially, with a target of approximately $200 million by the end of the year [75] Question: What insights were gained from previous bag products? - The company learned about the interplay between material, construction, and design, leading to the development of the new Crossroads collection [78] Question: How is Corporate Sales performance recovering? - Corporate Sales showed recovery, supported by added capacity and strong demand for personalization [84] Question: How much did YETI benefit from COVID-related trends? - Management noted that while there were losses in certain categories, the overall demand remained strong, and the company is well-positioned for future growth [105]

YETI Holdings, Inc. (NYSE:YETI) Q3 2020 Earnings Conference Call November 5, 2020 8:00 AM ET Company Participants Tom Shaw – Vice President-Investor Relations Matt Reintjes – President and Chief Executive Officer Paul Carbone – Chief Financial Officer Conference Call Participants Peter Benedict – Baird Camilo Lyon – BTIG Alexandra Walvis – Goldman Sachs Randy Konik – Jefferies Sharon Zackfia – William Blair Robby Ohmes – Bank of America Securities Peter Keith – Piper Sandler Matt Koranda – ROTH Capital Part ...

Y = ® Third Quarter 2020 Highlights 2017 FATS We are not making any representations or warranties, express or implied, with respect to the information (financial, business, legal or otherwise) contained in this presentation. No person has been authorized to give any information other than that contained in this presentation. Forward-Looking Statements This presentation, as well as other written or oral communications made from time to time by us, may contain certain forward-looking statements. Forward-looki ...

YETI Holdings, Inc (NYSE:YETI) Q2 2020 Earnings Conference Call August 6, 2020 8:00 AM ET Company Participants Tom Shaw – Investor Relations Matt Reintjes – President and Chief Executive Officer Paul Carbone – Chief Financial Officer Conference Call Participants Randy Konik – Jefferies Sharon Zackfia – William Blair John Kernan – Cowen Peter Benedict – Baird Camilo Lyon – BTIG Robby Ohmes – Bank of America Merrill Lynch Joe Altobello – Raymond James Jim Duffy – Stifel Kimberly Greenberger – Morgan Stanley O ...

Financial Performance - LTM Q2 2020 Net Sales reached $948 million[16] - LTM Q2 2020 Adjusted EBITDA was $187 million with a 20% margin[16] - Q2 2020 Net Sales increased to $247 million, compared to $232 million in Q2 2019[73] - Q2 2020 Gross Profit increased to $138 million with a 56% margin, compared to $116 million with a 50% margin in Q2 2019[82] - Q2 2020 Adjusted EBITDA increased to $58 million with a 23% margin, compared to $47 million with a 20% margin in Q2 2019[86] Sales Growth - Direct-to-Consumer (DTC) sales in Q2 2020 grew to $133 million, a 61% year-over-year increase, representing 54% of the channel mix[12] - Drinkware net sales in Q2 2020 were $129 million, compared to $117 million in Q2 2019[75] Strategic Priorities - YETI.com experienced triple-digit year-over-year growth each month during Q2 2020[12] - Wholesale accounted for 52% and DTC 48% of net sales[40]

Brand and Market Strategy - The company emphasizes the importance of maintaining and enhancing its brand image to drive ongoing demand for its products, which is critical for its growth strategy[66]. - The company plans to continue investing significantly in research and development, sales, and marketing to support product innovation and market expansion[70]. - The company is focused on expanding its customer base and retail partnerships both domestically and internationally, including in markets like Canada, Australia, Europe, and Japan[74]. - The company is committed to introducing new products to meet evolving consumer preferences, but acknowledges the high costs and risks associated with product development[67]. - The company is investing in marketing strategies to attract new customers, but faces challenges in ensuring cost-effective customer acquisition[73]. Economic and Competitive Environment - The company acknowledges that its sales and profitability are sensitive to economic conditions, with consumer discretionary spending being a key factor affecting demand for its products[75]. - The company recognizes the competitive landscape in which it operates, highlighting the need to effectively differentiate its products and maintain market position against numerous competitors[76]. - The company faces significant pricing pressure due to intense competition and retailer demands, which could negatively impact margins and profitability[93]. - The company is vulnerable to fluctuations in the cost and availability of raw materials, which could harm gross margins and ability to meet customer demand[96]. Supply Chain and Manufacturing Risks - The company relies on third-party contract manufacturers for production, which poses risks related to timely delivery and quality control[80]. - The company relies on a limited number of third-party contract manufacturers, with two largest manufacturers accounting for approximately 90% of hard coolers production volume in 2019[87]. - Labor disputes or disruptions at ports could create significant risks for the company, potentially resulting in delayed or canceled orders[84]. - The company is in the process of re-engineering supply chain management to support global expansion, which requires significant investment and carries risks of excess inventories or increased costs[92]. Financial Performance and Risks - YETI Holdings, Inc. reported net sales of $913.734 million for the fiscal year ended December 28, 2019, representing a 17.3% increase from $778.833 million in 2018[284]. - The company's gross profit for the same period was $475.314 million, up from $383.128 million in 2018, indicating a gross margin improvement[284]. - Operating income decreased to $89.771 million in 2019 from $102.156 million in 2018, reflecting increased selling, general, and administrative expenses of $385.543 million[284]. - Net income for the fiscal year was $50.434 million, down from $57.763 million in 2018, resulting in a diluted net income per share of $0.58[284]. - The company reported an accumulated deficit of $189.545 million as of December 28, 2019, an improvement from $240.104 million in 2018[282]. Regulatory and Compliance Issues - The company faces risks related to data security, including potential breaches that could harm customer relationships and result in financial losses[121]. - The evolving privacy laws, such as the California Consumer Privacy Act and the EU's General Data Protection Regulation, impose additional compliance costs and risks[122]. - The company may face legal or regulatory proceedings that could result in substantial costs and harm its financial condition and results of operations[137]. - The company is subject to potential product recalls and liability claims, which could adversely affect earnings and reputation[138]. International Expansion and Trade Risks - The company imports products and is exposed to risks associated with international trade, including tariffs and public health crises, which could adversely affect operations[97]. - International expansion is a key long-term strategy, but it carries risks such as increased shipping costs, compliance with foreign regulations, and potential lower margins[113]. - Currency exchange rate fluctuations could adversely impact the company's financial results as revenues and expenses in foreign markets are recognized in local currencies[115]. Internal Controls and Governance - The company identified material weaknesses in its internal control over financial reporting, particularly in information technology general controls and inventory valuation, which could affect the reliability of financial statements[130]. - The company expressed an adverse opinion on its internal control over financial reporting as of December 28, 2019[255]. - The company has appointed a new independent director to its Board of Directors following the cessation of being a controlled company[156]. - The Board of Directors currently consists of nine members, including the CEO and four outside directors[157]. Accounting and Financial Reporting - The company adopted FASB Topic 606 for revenue recognition, changing the timing of revenue recognition from delivery to shipment[265]. - The adoption of FASB Topic 842 for leases resulted in the recognition of a right-of-use asset and a lease liability for operating leases[261]. - Significant auditor judgment was required for the adoption of new accounting standards, particularly for lease liabilities and revenue recognition[263][266]. - The cumulative effect of adopting the new revenue standard was recognized as an adjustment to beginning accumulated deficit[265].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10‑K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 29, 2018 OR ☐ 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 001‑38713 YETI Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 45‑5297111 (State or other jurisdict ...