Company: CELH
Filing Date: 2025-04-14
Form Type: DEF 14A
Source: 0001193125-25-080192
Chunk: 101

Company: Celsius Holdings, Inc.
Filing Date: 2025-04-14
Form: DEF 14A
Chunk 101
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   1,734 |   |     |      |   1,246 |   |
| Distributor Termination2                            |     |                     |       - |   |     |      |  (3,115 | ) |
| Legal Settlement Costs3                             |     |                     |  54,005 |   |     |      |   7,900 |   |
| Reorganization Costs4                               |     |                     |   5,965 |   |     |      |       - |   |
| Acquisition Costs5                                  |     |                     |   2,008 |   |     |      |       - |   |
| Penalties6                                          |     |                     |   9,350 |   |     |      |       - |   |
| Non-GAAP Adjusted EBITDA                            |     |                   $ | 255,714 |   |     |    $ | 295,603 |   |

| 1 | Selling, general and administrative expenses related to employee non-cash stock-based compensation expense. Stock-based compensation expense consists of non-cash charges for the estimated fair value of unvested restricted share unit and stock option awards granted to employees and directors. The Company believes that the exclusion provides a more accurate comparison of operating results and is useful to investors to understand the impact that stock-based compensation expense has on its operating results. |

| 7 | Add backs and deductions are net of their respective impacts from tax and reallocation of earnings to participating securities. |

Celsius defines Adjusted EBITDA as net income before net interest income, income tax expense (benefit), and depreciation and amortization expense, further adjusted by excluding stock-based compensation expense, foreign exchange gains or losses, distributor termination fees and legal settlement costs. Adjusted EBITDA Margin is the ratio between the company’s Adjusted EBITDA and net revenue, expressed as a percentage. Adjusted diluted earnings per share is GAAP diluted earnings per share net of add backs and deductions for distributor termination, legal settlement costs, reorganization costs, acquisitions costs, and penalties. Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted diluted earnings per share are non-GAAPfinancial measures.

| 2025 PROXY STATEMENT |     | B-1 |

Celsius uses Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted diluted earnings per share for operational and financial decision-making and believes these measures are useful in evaluating its performance because they eliminate