Valuation Multiples by Industry https://www.eval.tech SIC Sector: (5200-5999) Retail Trade Report Date: 31 March 2021 Country: United States of America (U.S.A.) Industry Valuation Multiples The table below provides a summary of median industry enterprise value (EV) valuation multiples, as at the Report Date. The data is grouped by industry SIC code: EV Multiple Max # Rev EBITDA EBIT TotAss TanAss Retail-Lumber & Other Building Materials Dealers (5211) 6 1.52 13.48 16.37 3.01 3.38 Retail-Variety Stores (5331) 9 0.91 13.55 18.73 1.83 2.15 Retail-Grocery Stores (5411) 10 0.37 7.19 10.75 0.90 0.95 Retail-Auto Dealers & Gasoline Stations (5500) 21 0.94 12.34 17.63 1.64 1.74 Retail-Auto & Home Supply Stores (5531) 6 1.48 12.72 14.68 2.13 2.67 Retail-Apparel & Accessory Stores (5600) 7 1.17 14.18 39.80 1.34 1.45 Retail-Family Clothing Stores (5651) 10 1.23 15.85 53.84 1.31 1.56 Retail-Shoe Stores (5661) 5 - - - 1.24 1.20 Retail-Home Furniture, Furnishings & Equipment Stores 6 1.17 - - 1.22 2.20 (5700) Retail-Eating & Drinking Places (5810) 6 4.61 54.28 - 1.68 2.55 Retail-Eating Places (5812) 39 2.28 23.89 28.25 1.67 2.20 Retail-Miscellaneous Retail (5900) 7 2.16 - 18.46 1.49 2.69 Retail-Drug Stores And Proprietary Stores (5912) 7 0.59 16.69 39.50 0.78 1.38 Retail-Miscellaneous Shopping Goods Stores (5940) 8 0.79 7.46 10.79 0.95 1.16 Retail-Catalog & Mail-Order Houses (5961) 23 1.17 14.70 22.10 2.88 3.27 Retail-Retail Stores, Nec (5990) 12 0.91 10.77 13.84 1.32 1.28 © 2021 eVal 1 20210427 EV/Revenue Valuation Multiple We provide additional data relating to industry EV/Revenue valuation multiples: # Average Median Std. Dev. Std. Err. Retail-Lumber & Other Building Materials Dealers (5211) 6 1.94 1.52 1.48 0.60 Retail-Variety Stores (5331) 9 1.24 0.91 0.81 0.27 Retail-Grocery Stores (5411) 8 0.44 0.37 0.18 0.06 Retail-Auto Dealers & Gasoline Stations (5500) 20 1.32 0.94 1.25 0.28 Retail-Auto & Home Supply Stores (5531) 6 1.83 1.48 1.14 0.46 Retail-Apparel & Accessory Stores (5600) 7 1.22 1.17 0.20 0.08 Retail-Family Clothing Stores (5651) 10 1.59 1.23 0.89 0.28 Retail-Home Furniture, Furnishings & Equipment Stores 6 1.28 1.17 0.65 0.27 (5700) Retail-Eating & Drinking Places (5810) 5 4.64 4.61 1.57 0.70 Retail-Eating Places (5812) 39 3.28 2.28 2.41 0.39 Retail-Miscellaneous Retail (5900) 7 4.53 2.16 3.91 1.48 Retail-Drug Stores And Proprietary Stores (5912) 6 0.57 0.59 0.33 0.14 Retail-Miscellaneous Shopping Goods Stores (5940) 7 0.72 0.79 0.26 0.10 Retail-Catalog & Mail-Order Houses (5961) 22 2.93 1.17 3.40 0.73 Retail-Retail Stores, Nec (5990) 9 1.40 0.91 1.72 0.57 © 2021 eVal 2 20210427 EV/EBITDA Valuation Multiple We provide additional data relating to industry EV/EBITDA valuation multiples: # Average Median Std. Dev. Std. Err. Retail-Lumber & Other Building Materials Dealers (5211) 5 13.01 13.48 4.55 2.04 Retail-Variety Stores (5331) 9 13.49 13.55 4.98 1.66 Retail-Grocery Stores (5411) 9 8.63 7.19 5.34 1.78 Retail-Auto Dealers & Gasoline Stations (5500) 17 13.43 12.34 6.55 1.59 Retail-Auto & Home Supply Stores (5531) 5 12.11 12.72 2.77 1.24 Retail-Apparel & Accessory Stores (5600) 5 33.74 14.18 35.58 15.91 Retail-Family Clothing Stores (5651) 6 30.02 15.85 26.75 10.92 Retail-Eating Places (5812) 24 37.94 23.89 30.76 6.28 Retail-Drug Stores And Proprietary Stores (5912) 5 21.77 16.69 12.12 5.42 Retail-Catalog & Mail-Order Houses (5961) 12 25.73 14.70 27.33 7.89 Retail-Retail Stores, Nec (5990) 6 12.51 10.77 6.00 2.45 EV/EBIT Valuation Multiple We provide additional data relating to industry EV/EBIT valuation multiples: # Average Median Std. Dev. Std. Err. Retail-Lumber & Other Building Materials Dealers (5211) 5 15.57 16.37 5.53 2.47 Retail-Variety Stores (5331) 8 19.36 18.73 3.91 1.38 Retail-Grocery Stores (5411) 8 13.30 10.75 6.66 2.35 Retail-Auto Dealers & Gasoline Stations (5500) 16 17.95 17.63 8.72 2.18 Retail-Auto & Home Supply Stores (5531) 5 14.12 14.68 4.14 1.85 Retail-Eating Places (5812) 17 75.75 28.25 85.84 20.82 Retail-Catalog & Mail-Order Houses (5961) 15 43.34 22.10 44.32 11.44 Retail-Retail Stores, Nec (5990) 10 26.98 13.84 26.32 8.32 © 2021 eVal 3 20210427 EV/Total Assets Valuation Multiple We provide additional data relating to industry EV/Total Assets valuation multiples: # Average Median Std. Dev. Std. Err. Retail-Lumber & Other Building Materials Dealers (5211) 6 2.90 3.01 1.54 0.63 Retail-Variety Stores (5331) 9 1.99 1.83 0.62 0.21 Retail-Grocery Stores (5411) 10 0.88 0.90 0.38 0.12 Retail-Auto Dealers & Gasoline Stations (5500) 21 1.76 1.64 1.18 0.26 Retail-Auto & Home Supply Stores (5531) 6 2.33 2.13 1.12 0.46 Retail-Apparel & Accessory Stores (5600) 7 1.28 1.34 0.38 0.14 Retail-Family Clothing Stores (5651) 10 1.67 1.31 0.84 0.26 Retail-Shoe Stores (5661) 5 1.40 1.24 0.54 0.24 Retail-Home Furniture, Furnishings & Equipment Stores 5 1.25 1.22 0.40 0.18 (5700) Retail-Eating & Drinking Places (5810) 6 2.40 1.68 1.80 0.73 Retail-Eating Places (5812) 39 1.88 1.67 0.92 0.15 Retail-Miscellaneous Retail (5900) 7 2.07 1.49 1.70 0.64 Retail-Drug Stores And Proprietary Stores (5912) 6 0.83 0.78 0.34 0.14 Retail-Miscellaneous Shopping Goods Stores (5940) 8 1.00 0.95 0.36 0.13 Retail-Catalog & Mail-Order Houses (5961) 23 5.29 2.88 5.76 1.20 Retail-Retail Stores, Nec (5990) 12 1.76 1.32 1.97 0.57 EV/Tangible Assets Valuation Multiple We provide additional data relating to industry EV/Tangible Assets valuation multiples: # Average Median Std. Dev. Std. Err. Retail-Lumber & Other Building Materials Dealers (5211) 6 3.21 3.38 1.76 0.72 Retail-Variety Stores (5331) 9 2.36 2.15 0.93 0.31 Retail-Grocery Stores (5411) 8 0.91 0.95 0.25 0.09 Retail-Auto Dealers & Gasoline Stations (5500) 21 1.98 1.74 1.29 0.28 Retail-Auto & Home Supply Stores (5531) 6 2.64 2.67 1.02 0.42 Retail-Apparel & Accessory Stores (5600) 7 1.47 1.45 0.46 0.17 Retail-Family Clothing Stores (5651) 10 1.75 1.56 0.80 0.25 Retail-Home Furniture, Furnishings & Equipment Stores 6 2.02 2.20 0.85 0.35 (5700) Retail-Eating & Drinking Places (5810) 6 2.83 2.55 1.93 0.79 Retail-Eating Places (5812) 38 2.25 2.20 1.07 0.17 Retail-Miscellaneous Retail (5900) 7 3.83 2.69 3.49 1.32 Retail-Drug Stores And Proprietary Stores (5912) 7 1.61 1.38 1.18 0.44 Retail-Miscellaneous Shopping Goods Stores (5940) 8 1.12 1.16 0.35 0.12 Retail-Catalog & Mail-Order Houses (5961) 23 5.68 3.27 5.78 1.21 Retail-Retail Stores, Nec (5990) 11 1.61 1.28 1.21 0.36 © 2021 eVal 4 20210427 DISCLAIMER All information contained within this document, Valuation Multiples by Industry, (the “Docu- ment”) is for general information only. 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