Fourth Quarter & Full Year 2025 Results February 18, 2026 $$\mathrm{~uA~}$$ Speakers Bill Christensen CEO Samantha Stoddard CFO Disclosures Certain statements in this presentation, including our guidance and business strategies, are forward- looking statements that involve risk, uncertainty and assumptions, and are based on information as of February 18, 2026. Actual results may differ materially from those set forth in such statements. For a discussion of these risks and uncertainties, you should review ou ...

Financial Performance - Sales decreased to $824 million in Q2 2025, a 16% decrease compared to $986 million in Q2 2024[17] - Adjusted EBITDA decreased by 54% to $39 million in Q2 2025, compared to $85 million in Q2 2024[19] - Adjusted EBITDA margin decreased by 390 bps to 4.7% in Q2 2025, compared to 8.6% in Q2 2024[19] - Core revenue decreased by 13% due to lower volume/mix[20, 22] - Free Cash Flow is ~($150M)[35] Segment Results - North America net revenue decreased to $556 million in Q2 2025 from $711 million in Q2 2024, with an Adjusted EBITDA of $35 million and a margin of 6.3%[28] - Europe net revenue decreased to $268 million in Q2 2025 from $275 million in Q2 2024, with an Adjusted EBITDA of $17 million and a margin of 6.4%[28] - North America volume/mix down (16%)[29] - Europe volume/mix down (10%)[29] Outlook and Guidance - Net revenue is projected to be between $3.2 billion and $3.4 billion[34] - Core revenue is expected to be down 4% to 9%[34] - Adjusted EBITDA is projected to be between $170 million and $200 million[34] Balance Sheet - Total debt is $1,179 million as of June 28, 2025[47] - Cash is $134 million as of June 28, 2025[47] - Net debt leverage is 5.7x[47]