Dutch Bros — Nov 5, 2025 release

• Adjusted EBITDA 3 remains in the range of $285 million and $290 million, which assumes the impact of approximately 110 basis points of Adjusted SG&A leverage year-over-year. • Capital expenditures remain in the range of $240 million and $260 million. • Total system shop openings in 2025 are targeted to be 160. With a back-weighted pipeline in Q4, any new shop openings below 160 in 2025 are planned to be incremental to the 2026 target, reflecting confidence in our shop growth trajectory. 2026 Guidance • Total system shop openings in 2026 are targeted to be approximately 175. _________________ 1     Same shop sales is defined in the section “Select Financial Metrics”. 2     This is a non-GAAP financial measure. Reconciliation of U.S. GAAP to non-GAAP results is provided in the section “Non-GAAP Financial Measures”. 3     We have not reconciled guidance for Adjusted EBITDA to the corresponding U.S. GAAP financial measure because we do not provide guidance for the various reconciling items. We are unable to provide guidance for these reconciling items because we cannot determine their probable significance, as certain items are outside of our control and cannot be reasonably predicted due to the fact that these items could vary significantly from period to period. Accordingly, reconciliation to the corresponding U.S. GAAP financial measure is not available without unreasonable effort. Dutch Bros Inc. | Earnings Release | 2 Conference Call and Webcast Today Christine Barone, Chief Executive Officer and President, and Joshua Guenser, Chief Financial Officer, w