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Supplemental Financial Presentation May 2023

Important Information

Forward-Looking Statements

This presentation contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this presentation are forward- looking statements. You can identify forward-looking statements by the fact that they generally include words such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "outlook" and other words of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events but not all forward-looking statements contain these identifying words. These forward-looking statements are based on assumptions that the Company's management has made in light of their industry experience and on their perceptions of historical trends, current conditions, expected future developments and other factors they believe are appropriate under the circumstances. As you consider this presentation, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond the Company's control) and assumptions. These risks, uncertainties and assumptions include, but are not limited to, the following: decreases in consumer spending due to declines in consumer confidence, local economic conditions or changes in consumer preferences; the Company's ability to effectively execute on its growth strategy; the Company's failure to maintain and enhance its strong brand image, to compete effectively, to maintain good relationships with its key suppliers, and to improve and expand its exclusive product offerings; and the effect of COVID-19 on our business. The Company discusses the foregoing risks and other risks in greater detail under the heading "Risk factors" in the periodic reports filed by the Company with the Securities and Exchange Commission. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the Company's actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. Because of these factors, the Company cautions that you should not place undue reliance on any of these forward-looking statements. New risks and uncertainties arise from time to time, and it is impossible for the Company to predict those events or how they may affect the Company. Further, any forward-looking statement speaks only as of the date on which it is made. Except as required by law, the Company does not intend to update or revise the forward-looking statements in this presentation after the date of this presentation.

Industry and Market Information

Statements in this presentation concerning our industry and the markets in which we operate, including our general expectations and competitive position, business opportunity and market size, growth and share, are based on information from independent industry organizations and other third-party sources, data from our internal research and management estimates. Management estimates are derived from publicly available information and the information and data referred to above and are based on assumptions and calculations made by us based upon our interpretation of such information and data. The information and data referred to above are imprecise and may prove to be inaccurate because the information cannot always be verified with complete certainty due to the limitations on the availability and reliability of raw data, the voluntary nature of the data gathering process and other limitations and uncertainties. As a result, please be aware that the data and statistical information in this presentation may differ from information provided by our competitors or from information found in current or future studies conducted by market research institutes, consultancy firms or independent sources.

Recent Developments

Our business and opportunities for growth depend on consumer discretionary spending, and as such, our results are particularly sensitive to economic conditions and consumer confidence. Inflation (which has occurred over the past twelve months and is continuing) and other challenges affecting the global economy could impact our operations and will depend on future developments, which are uncertain. These and other effects make it more challenging for us to estimate the future performance of our business, particularly over the near-to-medium term. For further discussion of the uncertainties and business risks affecting the Company, see Item 1A, Risk Factors, of our Fiscal 2023 10-K.

1

Q4 Fiscal 2023 Results

Q4 Total Sales ($M)

Q4 Same Store Sales %

$383

$259

$163 $171 $193 $189

$426

12.1%

33.3%

26.9%

8.7%

-0.9%

-4.7%

-5.5%

FY17

FY18

FY19

FY20

FY21

FY22

FY231

+9.1%

+4.8%

+12.9%

(2.1)%

+37.2%

+48.1%

+11.0%

New Unit Growth

11

11

11

12

12

10

Q3 FY22

Q4 FY22

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

FY17

FY18

FY19

FY20

FY21

FY22

FY23

Q4 GAAP EPS

$1.47 $1.53

$0.82

$0.10 $0.24 $0.30 $0.20

FY17 FY18 FY19 FY20 FY21 FY22 FY231

1Q4 Fiscal 2023 was a 14-week quarter as a result of the 53rd week in Fiscal 2023. Management estimates the 14th week of Q4 Fiscal 2023 contributed $28.3M sales and approximately $0.16 of earnings per diluted share.

2

Full Year Fiscal 2023 Results

Full Year Total Sales ($M)

$1,488

$630 $678 $777 $846 $893

$1,658

Full Year Same Store Sales %

53.7%

FY17

FY18

FY19

FY20

FY21

FY22

FY231

+10.7%

+7.6%

+14.6%

+8.8%

+5.7%

+66.6%

+11.4%

5.2%

10.0%

5.0%

3.1%

0.3%

-0.1%

FY17

FY18

FY19

FY20

FY21

FY22

FY23

Store Count

Full Year GAAP EPS

219 226 240 259 273

345

300

$0.53

$1.05 $1.35 $1.64

$6.33

$5.62

$2.01

FY17

FY18

FY19

FY20

FY21

FY22

FY23

FY17

FY18

FY19

FY20

FY21

FY22

FY231

1Fiscal 2023 was a 53-week year. Management estimates the 53rd week contributed $28.3M sales and approximately $0.16 of earnings per diluted share.

3

Full Year Fiscal 2023 Highlights

Results

Fiscal 20231

Total Sales $

$1.7 Billion

Total Sales Growth %

+11.4%

Consolidated Same Store Sales Growth %

(0.1)%

Stores +1.8%

E-comm (10.2)%

Active B Rewarded Customers Purchasing

7.1M2

+22%

New Store Openings

45

+15%

Exclusive Brand Penetration %

34.0%

+570bps

EBIT %

14.0%

GAAP EPS $

$5.623

1Fiscal 2023 was a 53-week year. Management estimates the 53rd week contributed $28.3M sales and approximately $0.16 of earnings per diluted share.

2As of April 1, 2023, our loyalty program included approximately 7.1 million members who have purchased merchandise from us in the last three fiscal years.

4

3Fiscal 2023 earnings per diluted share includes a $0.05 benefit related primarily to income tax accounting for share-based compensation. Excluding this benefit, net income per diluted share was $5.57 in Fiscal 2023.

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Disclaimer

Boot Barn Holdings Inc. published this content on 17 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 May 2023 20:37:39 UTC.