Camping World (CWH) Investor presentation summary

Industry stabilization

• New and used RV industry trends stabilized, with a sustained positive inflection beginning in June 2025.

• Historically, 3-, 6- and 12-month moving averages crossing into positive territory has been a reliable industry indicator.

New-unit growth priorities

• Costco’s exclusive RV program provides access to more than 60 million members and a new channel for ASP and new-unit sales.

• Costco program leads have historically skewed toward higher-ASP fifth-wheel and motorized RVs.

• MY26 contract-manufactured products target entry-level disruption and underpenetrated segments, including Class C, Class B and Class A.

Used inventory opportunity

• Used remains a strategic priority; used GMROI is more than 2.5x new GMROI, reflecting higher margins and turns.

• Improving new turns from 1.8x to 2.2x could lift GMROI 22%; improving used turns from 3.2x to 3.8x could lift GMROI 19%.