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Camping World Q1 new vehicle selling prices rise as used inventory sees ASP decline. April 29, 2026 Camping World Holdings, Inc. (CWH) reported that revenue for the first quarter ended March 31 amounted to $1.4 billion for the first quarter, a decrease of 4.2 percent year-over-year (y/y). CWH President and CEO Matthew Wagner said the company was "pleased" with its first quarter performance against the current RV industry backdrop. "While used RV sales underperformed expectations in January and February, the year-over-year trajectory of our new and used unit volume continued to improve as we progressed through March and into late April," he shared. "In the quarter, we realized SG&A efficiencies and gained market share in our exclusive brand units." Consolidated new and used vehicle unit sales were 28,682, a decrease of 1,983 units, or 6.5 percent y/y. Consolidated same-store new and used vehicle unit sales decreased 6.0 percent y/y. * New vehicle revenue was $587.7 million for the first quarter, a decrease of 5.4 percent y/y, with new vehicle unit sales of 15,218 units, a decrease of 1,508 units, or 9.0 percent y/y. * The average selling price of new vehicles sold increased 3.9 percent y/y. * Same-store new vehicle unit sales decreased 8.7 percent y/y for the first quarter. * New vehicle gross margin was 12.2 percent, a decrease of 148 basis points, driven primarily by the 5.7 percent increase in the average cost per new vehicle sold, partially offset by the 3.9 percent increase in the average selling price per new vehicle sold. * Used vehicle revenue was $403.8 million for the quarter, a decrease of 4.4 percent y/y. * Used vehicle unit sales were 13,464 units, a decrease of 475 units, or 3.4 percent y/y. * The average selling price of used vehicles sold decreased 1.0 percent y/y. * Same-store used vehicle unit sales decreased 2.6 percent y/y. * Used vehicle gross margin was 17.7 percent, a decrease of 91 basis points, primarily due to the 1.0 percent lower average selling price per used vehicle sold. * Products, service and other revenue was $158.4 million in the quarter, a decrease of 4.0 percent y/y, reportedly due to reduced service and collision work. Products, service and other gross margin was 47.8 percent of revenue, a decrease of 89 basis points, said to be driven by the lower mix of higher margin service and collision revenue, and increased labor rates. Profitability & Expenses Gross profit was $403.3 million, a decrease of $26.3 million, or 6.1 percent, and total gross margin was 29.8 percent of revenue, a decrease of 62 basis points y/y. The gross profit decrease was said to be mainly driven by the $13.3 million lower new vehicle gross profit, $7.1 million of decreased used vehicles gross profit, $4.6 million of decreased products, service and other gross profit, and $2.6 million of decreased finance and insurance, net gross profit. Selling, general and administrative expenses (SG&A) were $358.3 million in Q1, a decrease of $29.1 million, or 7.5 percent y/y. This decrease was said to be primarily driven by an $18.9 million decrease in employee cash compensation costs excluding commissions; a $6.4 million decrease in advertising expenses; a $5.1 million decrease in commissions costs, and a $2.5 million decrease in stock-based compensation expense, partially offset by a $2.5 million increase for software expenses and maintenance. SG&A excluding stock-based compensation expense was $353.7 million, a decrease of $26.6 million, or 7.0 percent. As a percentage of gross profit, SG&A and SG&A excluding stock-based compensation expense were 88.8 percent and 87.7 percent, respectively, a decrease of 135 and 84 basis points y/y, respectively. Floor plan interest expense was $21.8 million, an increase of $3.5 million, or 19.2 percent, primarily as a result of increased average floor plan balance, partially offset by lower average floor plan borrowing rate. Other interest expense, net was $26.8 million, a decrease of $3.7 million, or 12.1 percent, as a result of lower interest rates and reduced borrowings. Net loss was $26.7 million for the first quarter of 2026, an increased loss of $2.0 million, or 8.0 percent versus the 2025 first quarter. Adjusted EBITDA was $28.0 million, a decrease of $3.2 million, or 10.1 percent of revenue. Diluted loss per share of Class A common stock was 26 cents, compared to a loss diluted share of 21 cents in the year-ago period. Adjusted loss per share - diluted of Class A common stock was 21 cents, an increased loss of 5 cents, or 31.3 percent. Stores The total number of \store locations was 199 as of March 31, 2026, a net decrease of 10 store locations from March 31, 2025, or 4.8 percent, which included the consolidation of 10 store locations to improve the overall cost efficiency of the remaining store locations. In the first quarter of 2026, Sgbonline opened two locations and acquired one dealership. Balance Sheet and Cash Flow Cash and cash equivalents totaled $200 million at quarter end. Total outstanding long-term debt was $1.416 billion. The company's net debt leverage ratio improved to 5.6x at the end of the first quarter of 2026 compared to 8.1x at the end of the first quarter of 2025. Tom Kirn, chief financial officer of CWH commented, "We believe we are taking the right steps to generate strong free cash flow for the full year. Our capital deployment framework continues to prioritize strengthening the balance sheet." Full Year 2026 Outlook Wagner stated that CWH remains focused on its three defined goals for 2026: new and used unit growth, accelerating Good Sam's growth, and SG&A cost efficiency. "While the RV selling season started slower than expected, we believe recent trends in March and April, Good Sam's margin stabilization, and additional cost efficiency opportunities support our 2026 outlook and position the Company for long-term value creation," he said. For full year 2026, the company is reiterating its previous guidance range of Adjusted EBITDA in the range of $275 million to $325 million. Image courtesy Camping World Holdings, Inc.

SHAREHOLDER ALERT Bernstein Liebhard LLP announces A securities fraud Class Action Lawsuit has been filed against Camping World Holdings, Inc. (CWH). GlobeNewswire | Bernstein Liebhard LLP Today at 5:07am PDT NEW YORK, March 31, 2026 (GLOBE NEWSWIRE) - Bernstein Liebhard LLP announces that a shareholder has filed a securities class action lawsuit on behalf of investors (the "Class") who purchased or acquired the securities of Camping World Holdings, Inc. ("Camping World" or the "Company") (NYSE: CWH) between April 29, 2025 and February 24, 2026, inclusive (the "Class Period"). Should You Join The Camping World Class Action Lawsuit? * Do you, or did you, own shares of Camping World Holdings, Inc. (NYSE: CWH)? * Did you purchase your shares between April 29, 2025 and February 24, 2026, inclusive? * Did you lose money in your investment in Camping World Holdings, Inc.? What To Do Next: If you purchased or acquired Camping World securities, and/or would like to discuss your legal rights and options please visit Camping World Holdings, Inc. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or [email protected]. If you wish to serve as lead plaintiff for the Class, you must file papers by May 11, 2026. A lead plaintiff is a representative party acting on other class members' behalf in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About The Lawsuit: Defendants allegedly misrepresented, among other things, the Company's inventory management throughout the Class Period. About Bernstein Liebhard: Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for sixteen consecutive years. ATTORNEY ADVERTISING. (C) 2026 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter. Contact Information: Peter Allocco Investor Relations Manager Bernstein Liebhard LLP https://www.bernlieb.com (212) 951-2030 [email protected] This is a paid placement. For further inquiries, please contact GlobeNewswire directly.