Malibu Boats (MBUU) investor relations material

Deal rationale and strategic fit

• Accelerates global expansion and establishes a scalable European platform, expanding beyond North America into international markets and the fast-growing adventure dayboat segment.

• Fills a strategic gap in the portfolio, targeting younger, affluent, and new-to-boating buyers, especially in North America, where only 33% of Saxdor's revenue is generated despite 67% of global wealth residing there.

• Saxdor’s strong brand, innovation, and Scandinavian design complement and extend the portfolio without cannibalizing existing brands.

• Leverages Saxdor’s established dealer network and global distribution platform to introduce legacy brands into new international markets.

• Advances the "Build, Innovate, and Grow" strategy, enhancing global manufacturing, sourcing, and distribution capabilities.

Financial terms and conditions

• Total consideration of approximately EUR 150 million (USD $175 million), with 73% cash and 27% in newly issued shares.

• Additional earn-out of up to EUR 72 million (USD $84 million) tied to operating and financial targets for 2026-2028, payable in cash or shares.

• Valuation at 7.2x unsynergized Adjusted EBITDA for the 12 months ending March 2026.

• Saxdor expected to generate $225–$235 million in revenue and 10–11% Adjusted EBITDA margin for the 12 months ending March 2026.

• Pro forma net leverage at 1.5x, below the 2.5x target, preserving financial flexibility.

Synergies and expected cost savings

• Manufacturing and procurement efficiencies anticipated through centralized sourcing, scale, and vertical integration.

• Potential to produce over 100 Saxdor units annually in the U.S. facility, improving cost absorption and reducing tariff and shipping exposure.

• Enhanced distribution footprint and global reach across the combined portfolio.

• Plans to extend retail financing and dealer service capabilities to Saxdor customers, diversifying revenue streams.

• No immediate SG&A cost reductions planned; focus is on operational and manufacturing synergies.