Investment Banking & Securities Offered Through SDR Capital Markets, Inc., Member FINRA & SIPC. ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ 30 27 25 17 20 15 15 10 8 Strategic 10 Financial 4 54% 5 2 46% - Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 12/29/2020 DermStore The Hut Group Personal Care 350.00 1.8x - Vitamins, Minerals, & 12/23/2020 SmartyPants Unilever (LON: ULVR) - - - Supplements 12/21/2020 Precor Peloton (NAS: PTON) Health & Fitness 420.00 - - Bass Pro Shops, Goldman Sachs 12/21/2020 Sportsman's Warehouse (NAS: SPWH) Outdoor Products 785.00 0.6x 6.5x Merchant Banking Division 12/18/2020 MyFitnessPal Francisco Partners Lifestyle Companies 345.00 - - 12/9/2020 Nutrisystem Kainos Capital, MSD Private Capital Health & Fitness 575.00 - - 11/17/2020 GSM Outdoors Gridiron Capital Outdoor Products 275.00 - - 11/16/2020 ARIIX NewAge (NAS: NBEV) Personal Care 10.00 - - 11/2/2020 Tredegar (Personal Care Films) Fitesa Personal Care 45.00 0.3x - 10/30/2020 BoxyCharm IPSY Personal Care 500.00 - - 10/14/2020 Octane Fitness True Fitness Technology Health & Fitness 28.50 - - Strategic Buyer Inv. Date Select Corporate Acquisitions The Hut Group 12/29/2020 ▪ DermStore 9/30/2020 ▪ Perricone MD Unilever 12/23/2020 ▪ SmartyPants 9/1/2020 ▪ Liquid I.V. 7/26/2019 ▪ Tatcha SC Johnson 10/31/2019 ▪ COOLA 9/12/2019 ▪ Oars + Alps Black Bear Sports Group 8/11/2020 ▪ Grundy Recreation Center 7/20/2020 ▪ Patriot Ice Center Procter & Gamble 1/8/2020 ▪ Billie 2/5/2019 ▪ This Is L. Inc. 12/12/2018 ▪ Walker & Company Brands, Inc. Hi-Tech Pharmaceuticals 7/26/2019 ▪ Tatcha LLC 4/18/2019 ▪ OLLY Public Benefit Corp. 12/14/2017 ▪ Schmidt's Deodorant Co. LLC 11/27/2017 ▪ Sundial Brands LLC 6/19/2017 ▪ Kingdom Animalia LLC (d.b.a. Hourglass Cosmetics) Financial Buyer Inv. Date Select Corporate Investments Centre Partners 3/20/2020 ▪ Guy & Oneill 1/13/2020 ▪ Outdoor Recreation Company of America 12/5/2019 ▪ BMC Mgmt 3/29/2019 ▪ One World Fitness PFF LLC Constitution Capital Partners 8/24/2020 ▪ KIK Personal Care 3/20/2020 ▪ Boomerang Laboratories Summit Partners 10/21/2020 ▪ Lipstick Queen 8/21/2020 ▪ Playa Trilantic Capital Management 9/12/2019 ▪ Southfit Holdings 9/12/2019 ▪ Southfit 7/10/2019 ▪ MJ Fitness Management Swander Pace Capital 6/25/2019 ▪ Bragg Live Food Products, Inc. 11/29/2018 ▪ Nutritional Medicinals LLC 1/18/2018 ▪ J R Watkins LLC 12/12/2016 ▪ Halo Innovations 1/22/2016 ▪ Swanson Health Products, Inc. TSG Consumer Partners LLC 4/9/2019 ▪ Anchor Fitness LLC 3/12/2019 ▪ CorePower Yoga LLC 10/5/2017 ▪ S&G Properties LLC 60% 40% 20% 0% -20% -40% -60% Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Health & Fitness Lifestyle Companies Activewear Natural & Organic Foods Outdoor Products Personal Care Vitamins, Minerals, & Supplements S&P 500 Market Stats Operating Stats LTM Multiples NTM Multiples % of 52 Est. TEV/ TEV/ Market Cap Quarter YTD EBITDA TEV/ TEV/ Price/ Company Name Symbol Price ($) Week Revenue NTM NTM ($ in Mil) Change Change Margin Rev EBITDA EPS High Growth Revenue EBITDA Planet Fitness PLNT $ 6,717 $ 77.63 22.2% 4.0% 87.5% 43.9% 29.9% NM NM NM 12.3x 28.9x Medifast (Maryland) MED 2,311 196.34 18.7% 79.2% 94.1% 33.5% 14.2% 2.6x 17.7x 24.6x 1.9x 12.0x WW WTW 1,661 25.61 32.0% (31.9%) 55.0% NM 20.4% 2.3x 11.0x 19.5x NM NM Nautilus NLS 549 18.14 3.0% 936.6% 63.8% 23.5% 10.6% 1.1x 10.4x 16.5x 0.9x 5.2x F.I.T Group FIT 167 0.66 75.4% 52.9% 100.0% NM 9.4% 3.4x 36.6x 43.0x NM NM 30.3% 208.1% 80.1% 33.6% 16.9% 2.3x 19.0x 25.9x 5.0x 15.4x 22.2% 52.9% 87.5% 33.5% 14.2% 2.4x 14.4x 22.1x 1.9x 12.0x Market Stats Operating Stats LTM Multiples NTM Multiples % of 52 Est. TEV/ TEV/ Market Cap Quarter YTD EBITDA TEV/ TEV/ Price/ Company Name Symbol Price ($) Week Revenue NTM NTM ($ in Mil) Change Change Margin Rev EBITDA EPS High Growth Revenue EBITDA Garmin GRMN $ 22,883 $ 119.66 26.4% 22.7% 96.9% 10.0% 27.3% 5.4x 19.8x 22.5x 4.9x 18.1x Vail Resorts MTN 11,238 278.96 29.7% 16.3% 93.0% 1.3% 24.5% 7.5x 30.6x NM 7.4x 28.6x Brunswick (US) BC 5,973 76.24 26.5% 27.1% 90.8% 21.5% 15.3% 1.6x 10.2x 19.8x 1.3x 7.5x Polaris Industries PII 5,879 95.28 0.8% (6.3%) 86.4% 21.7% 5.1% 1.1x 21.0x NM 0.9x 6.8x Vista Outdoor VSTO 1,384 23.76 13.2% 217.6% 88.1% 13.2% 3.1% 0.9x 30.1x NM 0.8x 6.6x GoPro GPRO 1,248 8.28 79.2% 90.8% 90.3% 2.8% 2.6% 1.2x 48.4x NM 1.2x 9.7x Clarus Corporation CLAR 478 15.40 6.4% 14.1% 86.8% 25.3% 5.2% 2.4x 46.2x 44.2x 1.9x 16.1x 26.0% 54.6% 90.3% 13.7% 11.9% 2.9x 29.5x 28.8x 2.6x 13.3x 26.4% 22.7% 90.3% 13.2% 5.2% 1.6x 30.1x 22.5x 1.3x 9.7x Market Stats Operating Stats LTM Multiples NTM Multiples % of 52 Est. TEV/ TEV/ Market Cap Quarter YTD EBITDA TEV/ TEV/ Price/ Company Name Symbol Price ($) Week Revenue NTM NTM ($ in Mil) Change Change Margin Rev EBITDA EPS High Growth Revenue EBITDA Nike NKE $ 222,083 $ 141.47 11.7% 39.6% 95.6% 23.7% 11.6% 5.8x 51.4x 79.9x 4.8x 29.5x Lululemon Athletica LULU 45,362 348.03 2.0% 50.2% 87.0% 25.8% 23.6% 11.2x 47.5x 81.7x 8.9x 33.4x VF Corporation VFC 33,310 85.41 19.3% (14.3%) 85.2% 31.0% 4.7% 4.4x NM NM 3.4x 20.8x Deckers Brands DECK 8,054 286.78 21.7% 69.8% 93.2% 12.0% 19.5% 3.5x 17.8x 26.0x 3.1x NM Under Armour UA 7,276 14.88 43.8% (22.4%) 76.6% 7.2% (9.7%) 1.9x NM NM 1.7x 26.1x Foot Locker FL 4,214 40.44 18.6% 3.7% 93.9% 4.4% 9.2% 0.8x 8.7x 12.7x 0.8x 8.2x Wolverine World Wide WWW 2,565 31.25 17.3% (7.4%) 90.1% 16.9% 5.3% 1.7x 33.0x 76.2x 1.5x 11.2x Sequential Brands Group SQBG 24 14.35 204.0% 4.7% 57.9% 21.5% (28.4%) 6.1x NM NM 5.0x 6.7x Iconix Brand Group ICON 17 1.26 80.0% (6.7%) 65.6% 245.3% (6.7%) 4.9x NM NM 1.4x 2.9x Apex Development Bank APEX 8 0.00 (9.8%) (62.4%) 37.6% NM (8.0%) 5.0x NM NM NM NM 40.9% 5.5% 78.3% 43.1% 2.1% 4.5x 31.7x 55.3x 3.4x 17.4x 18.9% (1.5%) 86.1% 21.5% 5.0% 4.7x 33.0x 76.2x 3.1x 16.0x Market Stats Operating Stats LTM Multiples NTM Multiples % of 52 Est. TEV/ TEV/ Market Cap Quarter YTD EBITDA TEV/ TEV/ Price/ Company Name Symbol Price ($) Week Revenue NTM NTM ($ in Mil) Change Change Margin Rev EBITDA EPS High Growth Revenue EBITDA The Hain Celestial Group HAIN $ 4,041 $ 40.15 14.2% 54.7% 98.8% 0.8% 5.2% 2.1x 7.9x 13.3x 2.1x 17.3x United Natural Foods UNFI 896 15.97 0.8% 82.3% 68.3% 0.9% 2.2% 0.2x 7.9x 13.3x 0.2x 6.6x Seneca Foods SENEA 362 39.90 8.8% (2.2%) 83.0% NM 10.8% 0.4x 4.0x 4.4x NM NM Del Monte Pacific D03 301 0.15 69.3% 52.9% 89.8% NM 9.3% 0.9x 9.5x 0.4x NM NM 23.3% 46.9% 85.0% 0.9% 6.9% 0.9x 7.3x 7.8x 1.1x 12.0x 11.5% 53.8% 86.4% 0.9% 7.2% 0.7x 7.9x 8.8x 1.1x 12.0x Market Stats Operating Stats LTM Multiples NTM Multiples % of 52 Est. TEV/ TEV/ Market Cap Quarter YTD EBITDA TEV/ TEV/ Price/ Company Name Symbol Price ($) Week Revenue NTM NTM ($ in Mil) Change Change Margin Rev EBITDA EPS High Growth Revenue EBITDA Brunswick (US) BC $ 5,973 $ 76.24 26.5% 27.1% 90.8% 21.5% 15.3% 1.6x 10.2x 19.8x 1.3x 7.5x Callaway Golf Company ELY 2,261 24.01 22.7% 13.3% 94.7% 14.5% (1.9%) 1.9x NM NM 1.6x 12.2x Vista Outdoor VSTO 1,384 23.76 13.2% 217.6% 88.1% 13.2% 3.1% 0.9x 30.1x NM 0.8x 6.6x Sturm, Ruger & Company RGR 1,138 65.07 4.2% 38.4% 71.7% 6.6% 23.0% 2.0x 8.7x 17.3x 1.9x 6.8x Johnson Outdoors JOUT 1,136 112.63 36.0% 46.8% 98.5% 11.1% 14.7% 1.6x 11.0x 20.6x 1.5x NM Escalade ESCA 300 21.17 9.8% 115.4% 92.9% (0.9%) 13.7% 1.2x 8.7x 12.8x 1.2x 10.9x 18.7% 76.4% 89.4% 11.0% 11.3% 1.5x 13.7x 17.6x 1.4x 8.8x 17.9% 42.6% 91.8% 12.1% 14.2% 1.6x 10.2x 18.6x 1.4x 7.5x Market Stats Operating Stats LTM Multiples NTM Multiples % of 52 Est.