1H FY2021 Interim Results

23 March 2021 (All amounts in NZ$ unless otherwise stated) Strong Rip Curl performance underpinned 1H Group result o Rip Curl achieved strong sales and profits, despite COVID-19 impacts in key global markets, validating the Group's diversification strategy o Kathmandu impacted by COVID-19 related travel restrictions and store closures o Oboz sales growth and strong forward order book, benefiting from successful product innovation strategy and diversification of customer base o Step change in Group online penetration reflecting improved digital capabilities and changing consumer preferences o Robust balance sheet with low net debt, and clean inventory position o Dividend resumes, with NZ 2.0 cents per share interim dividend Kathmandu Holdings Limited (ASX/NZX: KMD) is pleased to announce its results for the six months ended 31 January 2021 (1H FY21). 1H FY21 key highlights (vs 1H FY20): o Sales up 12.9% to $410.7 million, including a full six month contribution from Rip Curl o Step change in Group online penetration, with online representing 12.7% of direct to consumer (DTC) sales (1H FY20: 8.8%) o Underlying EBITDA up 19.0% to $48.2 million (excluding the impact of IFRS 16 and one-off transaction and abnormal costs) o Statutory NPAT of $22.3 million o Underlying NPAT up 32.8% to $23.1 million (excluding the impact of IFRS 16 and one-off transaction and abnormal costs) o Robust balance sheet, with $10.1 million net debt, reflecting working capital management strategies o Resumption of dividends, with NZ 2.0 cents per share interim dividend declared (fully franked for Australian shareholders, and not imputed for New Zealand shareholders) The following are attached in relation to Kathmandu Holdings Limited's Interim Result for the period to 31 January 2021: 1. Results Announcement 2. Media Announcement 3. Interim Financial Statements for the six months ended 31 January 2021 and the Independent Auditors Review Report 4. Investors Presentation 5. Distribution Notice Investor briefing An investor call will be hosted by David Kirk (Chairman), Xavier Simonet (Group CEO) and Chris Kinraid (Group CFO) at 8.30am AEDT / 10:30am NZDT today, Tuesday 23 March 2021. For those wishing to participate, please dial one of the numbers below and provide the conference ID to the operator: Australia Toll Free: 1800 558 698 Australia Local: +61 2 9007 3187 New Zealand Toll Free: 0800 453 055 United States: +1 855 881 1339 Conference ID: 10012888 - ENDS - For further information, please contact: Investors Eric Kuret Market Eye P: +61 417 311 335 E: eric.kuret@marketeye.com.au Media Helen McCombie Citadel-MAGNUS P: + 61 2 8234 0103 End CA:00369548 For:KMD Type:HALFYR Time:2021-03-23 09:33:22