Financial Performance - The net leverage ratio as of Q2 2025 was 4.1x[1,2] - Net loss for the six months ended December 28, 2024, was $326.916 million, while net income for the six months ended June 28, 2025, was $29.299 million[1] - Interest expense, net, for the six months ended December 28, 2024, was $81.396 million, and for the six months ended June 28, 2025, was $67.893 million[1] - Depreciation and amortization for the six months ended December 28, 2024, was $92.250 million, and for the six months ended June 28, 2025, was $68.055 million[1] - Adjusted EBITDA for the twelve months ended June 28, 2025, was $537.822 million[1] - Debt Agreement Adjusted EBITDA for the twelve months ended June 28, 2025, was $532.968 million[1] Debt and Cash Flow - Total debt as of June 28, 2025, was $2.376724 billion[1] - Cash and cash equivalents as of June 28, 2025, were $166.131 million[1] - Net debt as of June 28, 2025, was $2.210593 billion[1] Adjustments to EBITDA - Pro forma EBITDA adjustments resulted in a decrease of $23.535 million[1] - Run rate adjustments related to store openings and closings resulted in an increase of $11.395 million[1] - Other adjustments permitted under the Debt Agreement resulted in an increase of $7.287 million[1]

Net leverage ratio as of Q1 2025 was 4.3x Reconciliation of LTM Q1 Fiscal 2025 Net Loss and Debt Agreement Adjusted EBITDA | | | | Twelve | | | | --- | --- | --- | --- | --- | --- | | | Nine months | Three months | months | | | | | ended | ended | ended | | | | ($ thousands) | 28-Dec-24 | 29-Mar-25 | 29-Mar-25 | ($ thousands) | 29-Mar-25 | | Net (loss)/income | ($296,757) | $17,490 | ($279,267) | Total Debt | $2,648,506 | | Income tax (expense)/benefit | (31,307) | 7,031 | (24,276) | | | | Interest expense, ...