FY24 Annual Results Announcement

25 September 2024 (All amounts in NZ$ unless otherwise stated) KMD Brands FY24 Results KMD Brands Limited (NZX/ASX: KMD, “KMD” or the “Group”) today announces its results for the twelve months ended 31 July 2024 (“FY24”). FY24 financial summary (vs FY23): • Group sales down -11.2% to $979.4 million. • Gross margin down -0.2% of sales to 58.9%. • Underlying operating expenses (1) $19.6 million lower year-on-year (“YOY”), down -3.6%. • Underlying EBITDA (1) $50.0 million, down -52.8% YOY due to lower sales. • Statutory NPAT loss -$48.3 million including a one-off non-cash impairment of Oboz goodwill of $40.3 million. Underlying NPAT (1) loss -$1.1 million. • Net Working Capital $198.3 million, -$21.4 million lower YOY. • Net Debt $59.7 million, with significant funding headroom of approximately $230 million. • No final dividend declared as a result of FY24 operating performance and challenging market conditions. FY25 trading update for the first 8 full weeks to 22 September: • Kathmandu Australia direct-to-consumer (“DTC”) sales up +2.1% YOY. New Zealand DTC sales down -23.2% YOY, cycling strong end of line clearance sales last year. • Kathmandu gross profit dollars up +5.1% YOY for the first eight full weeks. • Rip Curl global DTC sales approximately -5% lower YOY in a seasonally non-significant trading period. • Wholesale forward orders are moderating from double-digit declines in FY24 to single digit declines for the first half of FY25. The following are attached in relation to KMD Brands Limited's Full Year Result for the period to 31 July 2024: 1. Results Announcement 2. Media Announcement 3. Investor Presentation 4. Annual Integrated Report including Financial Statements and Independent Auditor's Report 5. Corporate Governance Statement 6. Modern Slavery Statement 7. GRI & SASB Index Investor briefing being held today at 8:30am AEST / 10:30am NZST Michael Daly (Group CEO & Managing Director), and Ben Washington (Interim Group CFO) will be holding a briefing session for investors and analysts at 8:30am AEST / 10:30am NZST today (Wednesday 25 September). Please attend the meeting by following this link: www.virtualmeeting.co.nz/kmdfy24 You may also dial one of the numbers below and provide the conference ID 3372530 to the operator to listen to the meeting. Australia Toll-Free 1800 953 093 New Zealand Toll-Free +64800005652 USA & Canada Toll-Free (888) 672-2415 United Kingdom Toll-Free +44 800 524 4763 France Toll-Free +33 801 238861 Norway National +47 57 98 94 28 Spain Toll-Free +34 800 906908 The webcast will be available on the KMD Brands investor website following the call. This announcement has been authorised for release to NZX / ASX by the Board of Directors of KMD Brands Limited. - ENDS - For further information, whether an investor or media enquiry, please contact: enquiries@kmdbrands.com (1) Excluding the impact of IFRS 16, restructuring, the notional amortisation of Rip Curl and Oboz customer relationships, and a one-off non-cash impairment of Oboz goodwill.