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Q4 FY 2025 Investor Presentation November 13, 2025
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Forward-Looking Statements 2 Certain statements in this presentation are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events, and may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or the negative of these words, or other similar terms or expressions that concern the Company’s expectations, strategy, plans, or intentions. These statements, including those relating to MarineMax’s strategic expansion into higher-margin businesses and the value creation resulting from such expansion, the Company’s long-term growth strategy, MarineMax’s fiscal 2026 guidance, the Company’s long-term strategy and growth priorities, MarineMax’s diversification, and its financial flexibility, are based on current expectations, forecasts, risks, uncertainties, and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions, and uncertainties include the timing of and potential outcome of the Company’s long-term improvement plan, the estimated impact resulting from the Company’s cost-reduction initiatives, the Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, general economic conditions, as well as those within the Company's industry, the level of consumer spending, and numerous other factors identified in the Company’s most recently filed Forms 10-K and 10-Q and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Non-GAAP Financial Measures 3 This presentation contains “Adjusted net income, “Adjusted diluted EPS,” and “Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization” (“Adjusted EBITDA”), which are non-GAAP financial measures as defined under applicable securities legislation. In determining these measures, the Company excludes certain items which are otherwise included in determining the comparable GAAP financial measures. The Company believes these non-GAAP financial measures are key performance indicators that improve the period-to-period comparability of the Company’s results and provide investors with more insight into, and an additional tool to understand and assess, the performance of the Company's ongoing core business operations. Investors and other readers are encouraged to review the related GAAP financial measures and the above reconciliation and should consider these non-GAAP financial measures as a supplement to, and not as a substitute for or as a superior measure to, measures of financial performance prepared in accordance with GAAP . In addition, we have not reconciled our fiscal year 2026 Adjusted net income and Adjusted EBITDA guidance to net income (the corresponding GAAP measure for each), which is not accessible on a forward-looking basis due to the high variability and difficulty in making accurate forecasts and projections, particularly with respect to acquisition contingent consideration, acquisition costs, and other costs. Acquisition contingent consideration and transaction costs, which are likely to be significant to the calculation of net income, are affected by the integration and post- acquisition performance of our acquirees, which is difficult to predict and subject to change. Accordingly, reconciliations of forward-looking Adjusted net income and Adjusted EBITDA are not available without unreasonable effort.
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MarineMax: A Worldwide Leader in Products, Services, and Experiences for the Recreational Marine Market 4 • Over 70 boat dealerships featuring more than 30 exclusively marketed boat brands • Portfolio of more than 65 marina and storage locations across 15+ countries, highlighted by flagship brand, IGY Marinas • Diverse business mix includes marinas, yacht brokerage operations, finance and insurance, superyacht services and manufacturing • Innovative technology and digital offerings to create scale and support growth • Long culture of excellence, highlighted by industry-leading net promotor scores
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Our Strategic Ambition Achieve top-tier market performance as the premier global leader in boating and yachting, offering an unmatched and diverse portfolio of recreational experiences 5
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Expanding Leadership Across Diverse Lines of Business Acquisition History Since 2019 6 Retail Operations Superyacht Services IGY Marinas New Wave Innovations Finance & Insurance Product Manufacturing More Than 20 Acquisitions Since 2019 • >$700 million of combined revenue • Skewed toward higher-margin
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Strategic Priorities by Business 7 Retail Store Operations Superyacht Services IGY Marinas New Wave Innovations Finance & Insurance Services Product Manufacturing Strategic Focus Innovation & Value Creation Premium Ecosystem Integration Focused Growth Early-stage Growth Growth & Efficiencies Focused Growth Strategic Priority Drive incremental value through brand and store portfolio optimization while leveraging digital analytics and AI to expand customer wallet share Accelerate growth in high-margin segments by expanding global brokerage networks, charter fleets, and personalized services Optimize growth & synergy opportunities Create scale to support growth in a large marketplace Scale offerings Innovate for future growth while adjusting portfolio and production to adapt to current economic cycle
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Revenue Performance $1.24 $1.51 $2.06 $2.31 $2.39 $2.43 $2.31 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 8 ($ in billions)
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We Provide Customers With a Highly Differentiated Boating Experience More Than 30 Exclusively Marketed Brands, Including: 9
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Non-Boat Revenue Streams Have Significantly Expanded Our Margin Profile Since 2019 FY 2019* FY 2025 Growth in Non-Boat Sales and Total Gross Margin Improvement (FY19 vs. FY25) Maintenace and repair Storage and charter rentals Finance and Insurance Parts and Accessories Brokerage sales 26.2% *FY19 combined maintenance, repair, storage, and charter services as one category 15.0% 10 FY19 Consolidated Gross Margin: 26.1% FY25 Consolidated Gross Margin: 32.5%
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Building Our Technology Footprint by Creating a Seamless Digital Experience for Customers 11 Leveraging digital and marketing analytics, plus, artificial intelligence Introduced award-winning MarineMax App, to give quick, easy access to service scheduling, monitoring and payment Soundings Trade Only ”Most Innovative Marine Company” Award Newly formed entity, New Wave Innovations, serves as growth engine for technology-related products and services
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Our Leadership Team Has Deep Industry Experience Across Economic and Market Cycles Brett McGill Chief Executive Officer and President 29 Years Mike McLamb Executive Vice President, Chief Financial Officer and Secretary 27 Years Shawn Berg Executive Vice President, Chief Digital Officer 7 Years Manny Alvare General Counsel 7 Years Chuck Cashman Senior Vice President, Global Yachts Sales 33 Years Anthony Cassella Executive Vice President Finance and Chief Accounting Officer 27 Years Kyle Langbehn Executive Vice President, President of Retail Operations 23 Years Beth Garland Senior Vice President, People Strategy 4 Years 12Denotes years of experience at MarineMax
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Strategy for Unlocking Additional Value-Creation Potential 13 Expand Footprint via Prudent M&A Drive More Efficient Operations Pillar 1 Pillar 2 Pillar 3 Culture of Customer Excellence + Disciplined Capital Allocation + Strong Governance F O U N D AT I O N A L E N A B L E R S Leverage Strengths & Innovation Accelerating Value Creation & Driving Profitable Growth
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Delivering Meaningfully on Long-Term Strategic Plan 14 Strengthening the Portfolio Driving More Efficient Operations Improving Our Financial Profile ✓ Completed 20 acquisitions since 2019 – roughly $700M of high-margin revenue ✓ Continued expansion into premium brands and higher net worth customer base ✓ Secured brands with large geographic territories – 8 added in the past 6 years ✓ Continued market gains and brand recognition in the superyacht segment ✓ Rationalizing store base in support of expense alignment goals ✓ Integrating new acquisitions, recognizing synergies from existing best practices and resources ✓ Adding technology tools to drive efficiency ✓ Achieved >30% gross margins vs. historical & industry standard of mid 20% ✓ Delivered sales growth above industry trends ✓ Maintained liquidity ✓ Healthy EBITDA leverage ratio
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Q4 FY 2025 Commentary • Revenue decreased 1.9%, primarily due to portfolio rationalization efforts and more challenging industry retail environment. • Growth in used boat sales, F&I, parts and service, and superyacht operations—including IGY—drove a 2.3% increase in comparable-store revenue. • Consolidated gross profit margin increased YoY, reflecting continued growth in diversified, higher-margin businesses. • FY 2026 guidance based on current business conditions, retail marine industry trends and other factors: • Adjusted EBITDA in the range of $110 million to $125 million1 • Adjusted EPS in the range of $0.40 to $0.95 per diluted share1 15 1Guidance excludes the potential impact of material acquisitions or other unforeseen developments, including changes in tariffs and/or global economic conditions.
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16* For a reconciliation of GAAP to Non-GAAP financial measures, refer to the Appendix. Income from Operations Revenue Gross Margin $552.2M $563.1M 2025 2024 34.7% 34.3% 2025 2024 $17.3M $33.5M 2025 2024 Adjusted EBITDA* Q4 FY 2025 Financial Performance GAAP Diluted EPS Adjusted Diluted EPS* Lower revenue primarily reflected portfolio rationalization efforts, as well as a more challenging industry retail environment . Increased gross margin primarily reflected continued growth of higher-margin businesses, in addition to stronger used-boat margins. Net loss attributable to MarineMax of ($0.9) million in Q4 FY 2025 compared with net income of $4.0 million in the same period of 2024. Key Messages $13.8M $26.8M 2025 2024 2025 ($0.04) 2024 $0.17 2025 2024 ($0.04) $0.24
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17* For a reconciliation of GAAP to Non-GAAP financial measures, refer to the Appendix. Income from Operations Revenue Gross Margin $2.31B $2.43B 2025 2024 32.5% 33.0% 2025 2024 $109.8M $160.2M 2025 2024 Adjusted EBITDA* FY 2025 Financial Performance GAAP Diluted EPS Adjusted Diluted EPS* Revenue and comparable–store revenue decreased 5% and 2.1%, respectively, primarily due to the more challenging industry retail environment. Income from Operations in FY 2025 included a non-cash, pre-tax goodwill impairment charge of $69.1 million related to the product manufacturing reporting unit. Net loss attributable to MarineMax of ($31.6) million in FY 2025 compared with net income of $38.1 million in FY 2024. Key Messages $34.0M $128.2M 2025 2024 2025 ($1.43) 2024 $1.65 2025 2024 $0.61 $2.13
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18 $552.5M2025 2024 Property and Equipment, net Cash and cash equivalents Inventories $170.4M $224.3M 2025 2024 $906.6M $867.3M2025 2024 Shareholders’ Equity Balance Sheet Highlights as of September 30, 2025 1.20x 1.19x 2025 2024 Current Ratio 2.03x 1.04x 2025 2024 Net Leverage Ratio $532.8M $948.8M $986.2M 2025 2024 YoY decrease in cash and cash equivalents was due to the settlement of contingent acquisition consideration payments, significant share repurchases and growth investments. Inventories decreased year-over- year, reflecting our successful efforts to optimize inventory levels with manufacturers. Shareholders’ equity decreased 4%, primarily due to decreased net income and purchases of treasury stock. Key Messages
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Appendix
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Adjusted EBITDA Reconciliation 20 MarineMax, Inc. and Subsidiaries Supplemental Financial Information (Amounts in thousands) (Unaudited) Three Months Ended Year Ended September 30, September 30, 2025 2024 2025 2024 Net (loss) income attributable to MarineMax, Inc. $ (854) $ 3,999 $ (31,631) $ 38,066 Interest expense (excluding floor plan) 7,694 7,345 30,195 30,131 Income tax (benefit) provision (3,372) 4,141 (6,375) 15,593 Depreciation and amortization 12,935 11,399 49,320 44,487 Stock-based compensation expense 2,915 6,479 19,353 23,961 Transaction and other costs 754 724 2,319 5,074 Restructuring expense 298 1,445 1,600 2,556 Goodwill impairment — — 69,055 — Change in fair value of contingent consideration (2,475) (5,422) (28,126) (3,030) Weather (recoveries) expenses (315) 4,708 4,433 4,850 Foreign currency (303) (1,277) (345) (1,512) Adjusted EBITDA $ 17,277 $ 33,541 $ 109,798 $ 160,176
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Adjusted Net (Loss) Income Reconciliation 21 MarineMax, Inc. and Subsidiaries Supplemental Financial Information (Amounts in thousands, except share and per share data) (Unaudited) (1) Transaction and other costs relate to acquisition transaction, integration, and other costs in the period. (2) Represents amortization expense for acquisition-related intangible assets. (3) Represents (gains) expenses to record contingent consideration liabilities at fair value. (4) Represents expenses incurred as a result of restructuring and store closings. (5) Represents goodwill impairment expense incurred on the manufacturing reporting unit during the fiscal year ended September 30, 2025. (6) Adjustments for taxes for items are calculated based on the effective tax rate for each respective period presented. (7) Represents an adjustment for shares that are anti-dilutive for GAAP net income per share but are dilutive for adjusted net income per share Three Months Ended Year Ended September 30, September 30, 2025 2024 2025 2024 Net (loss) income attributable to MarineMax, Inc. $ (854) $ 3,999 $ (31,631) $ 38,066 Transaction and other costs (1) 754 724 2,319 5,074 Intangible amortization (2) 1,397 1,428 5,650 6,020 Change in fair value of contingent consideration (3) (2,475) (5,422) (28,126) (3,030) Weather (recoveries) expenses (315) 4,708 4,433 4,850 Restructuring expense (4) 298 1,445 1,600 2,556 Goodwill impairment (5) — — 69,055 — Tax adjustments for items noted above (6) 333 (1,346) (9,448) (4,440) Adjusted net (loss) income attributable to MarineMax, Inc. $ (862) $ 5,536 $ 13,852 $ 49,096 Diluted net (loss) income per common share $ (0.04) $ 0.17 $ (1.43) $ 1.65 Transaction and other costs (1) 0.04 0.03 0.11 0.22 Intangible amortization (2) 0.07 0.06 0.26 0.26 Change in fair value of contingent consideration (3) (0.13) (0.22) (1.28) (0.13) Weather (recoveries) expenses (0.01) 0.20 0.20 0.21 Restructuring expense (4) 0.01 0.06 0.07 0.11 Goodwill impairment (5) — — 3.13 — Tax adjustments for items noted above (6) 0.02 (0.06) (0.43) (0.19) Adjustment for dilutive shares (7) — — (0.02) — Adjusted diluted net (loss) income per common share $ (0.04) $ 0.24 $ 0.61 $ 2.13