The directors present the strategic report for the period ended 3 January 2026.

The principal activity of the Company is the selling and distribution of coolers, drinkware and other outdoor products including bags and apparel.

The management are very happy with the continued growth of the business in the European Region and continue to support future growth with investment into brand awareness, products and staffing. The business continues to look for additional markets and routes to market to maximise the opportunities in the region.

The results and performance of the Company can be seen below under "Key performance indicators" as well as the "Results and dividends" section of the Directors' Report.

The Company's activities expose it to a number of financial risks. These include supply chain risks including inflationary pressures, competition within the market, foreign currency risk and liquidity risk. The risks are reviewed and managed through the Company's business performance and risk management processes. Compliance with regulation, legal and ethical standards is a high priority for the Company and the finance department takes on an important oversight role in this regard. As set out above, there are a number of risks that might affect the Company's performance which have been detailed further below: 

Financial risk

Financial risk arises through the Company's holdings in financial assets and financial liabilities. The most important components of financial risk are: foreign currency risk; and liquidity risk.

Supply risk & Inflationary Pressure

Interruptions in the supply of products from overseas may also affect the operating results. Global Inflation has increased the price of goods and energy, which can increase the costs within the Company and also impact the sales pressure on consumer spending. The Company is keeping this under constant review, and will look to sales prices and cost reduction measures to protect the profit levels of current operations. Risks for supply chain are mitigated by the review of pricing offered by logistics partners as well as the routes taken for shipments to minimise risk of delivery failure or delays.

Competitors risk

Significant competition within the industry could cause the revenues or margins to fall short of expectations which could adversely affect future operating results, financial condition and liquidity and the ability to continue to grow the business. Risks from competitors are mitigated by having conviction in the quality and price points of our products and not feeling the pressure to compete with inferior items that may be in the market.

Foreign currency risk

Foreign Currency risk is in relation to the Company's UK sales being invoiced and paid for in GBP, but accounted for in Euros. The risk is partly mitigated as much of the operational costs are also invoiced and paid for in GBP, making sure to minimise the conversion risk when moving funds between currencies. The Company's exposure to foreign currency risk in the supply chain is limited as all inventory is invoiced in Euros. The purchase of stock and other material expenditure (i.e. 3PL - third-party logistics) is made in Euros which is why the Euro is the adopted functional currency.

Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities. The Company's policy and approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stress conditions, without incurring unacceptable losses or risking damage to the reputation of the Company.

Promoting the success of YETI UK Limited

The Directors of the Company confirm that they have had regard to their duties under Section 172(1) of the Companies Act 2006, to promote the success of the Company for the benefit of its shareholder as a whole.

In doing so, the Directors have considered, among other matters:

• the likely consequences of any decision in the long term;

• the interests of the Company’s employees;

• the need to foster the Company’s business relationships with customers, suppliers and other stakeholders;

• the impact of the Company’s operations on the community and the environment;

• the desirability of maintaining a reputation for high standards of business conduct; and

• the need to act fairly as between members of the Company.

The Directors consider that the following sections of the Strategic Report describe how these duties have been discharged during the financial period.

Long-term value and alignment with the YETI group

The Directors take a long-term approach to decision-making, recognising that sustainable growth is driven by brand strength, customer trust, operational discipline and alignment with group strategy. Decisions taken during the period were assessed for their consistency with the YETI group’s global objectives, operating standards and values, while ensuring they remained appropriate for the UK and European markets. This included consideration of investments in people, systems and infrastructure to support future growth and operational resilience.

Our people

YETI UK’s employees play a critical role in delivering the Company’s objectives and representing the YETI brand. The Directors consider employee engagement, development and wellbeing when making decisions that affect the workforce. During the period, initiatives were supported to maintain a positive, inclusive and performance-driven culture, aligned with the wider YETI group, and to attract and retain talent in a competitive market.

On 31st December 2024, YETI acquired its long term Ecommerce partner Vvast Limited, and 16 heads moved over to become YETI employees, this is shown within employee number increase in Note 5 of the Financial statements.

Customers, partners and suppliers

The Company’s success depends on strong relationships with customers, retail partners, distributors and suppliers. The Directors consider the impact of decisions on customer experience, product availability and service standards, as well as maintaining effective relationships with suppliers and logistics providers. During the period, the Board monitored market conditions and supply chain performance and supported actions to maintain quality, reliability and brand standards.

Community, environment and responsible operations

The Directors recognise the importance of responsible operations and minimising environmental impact, in line with wider group sustainability objectives. Decisions taken during the period considered environmental impact where relevant, including logistics, packaging and waste, as well as the Company’s role within the communities in which it operates.

Business conduct and reputation

Maintaining the reputation of the YETI brand is fundamental to long-term success. The Directors are committed to high standards of business conduct, integrity and compliance with applicable laws and regulations. Decisions taken during the period reflected the importance of ethical behaviour, risk management and adherence to group policies and controls.

Shareholder interests

The Company is wholly owned and the Directors act in the best interests of the shareholder, ensuring appropriate oversight, transparency and alignment with the wider YETI group governance framework.

Key performance indicators

The Company monitors a range of financial key performance indicators to assess performance and support decision-making.

• Turnover increased by 56.5% to €71,053,092 (2024: €45,389,779), reflecting continued growth across both direct-to-consumer and wholesale sales channels in the UK and European markets, supported by increased brand awareness and expansion of sales channels.

• Administrative expenses and distribution costs as a percentage of turnover improved to 46.9% (2024: 54.6%), primarily driven by operating leverage arising from increased sales volumes and improved cost absorption across logistics and administrative functions.

The Directors monitor profitability and cost efficiency metrics on a regular basis to ensure that the Company continues to operate within its targeted margin range as a limited risk distributor within the YETI group.

In addition to income statement measures, the Directors consider working capital levels, particularly inventory, as part of assessing financial position. Inventory levels at the period end remain aligned with the Company’s operational requirements and are actively managed in line with group policies and expected sales demand.

Key performance indicators, including non-GAAP measures such as operating profit excluding other operating income, are reviewed and compared with other group entities on a regular basis to support consistent performance assessment and decision-making across the wider YETI group.

On behalf of the board

The directors present their annual report and audited financial statements for the period ended 3 January 2026.

The results for the period are set out on page 10.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

The Company will continue to operate in its current sales channels as well as look to expand into new opportunities and Corporate partnerships.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

This is supported by the overall net asset position of the balance sheet. The Company has been provided a Letter of Support from YETI Holdings, Inc. which confirms that they will provide financial support to the Company to allow them to continue to operate as a going concern and settle their liabilities as they fall due. They have confirmed that they will not seek the repayment of amounts advanced to the Company unless adequate alternative financing has been secured and they will advance further amounts to the Company as required. Thus YETI UK Limited continues to adopt the going concern basis in preparing the financial statements.

In accordance with the Companies Act 2006, the Directors have elected to disclose certain matters within the Strategic Report, where they are of strategic importance to the Company.

Details of principal risks and uncertainties, financial risk management and stakeholder engagement (including the Section 172(1) statement) are included within the Strategic Report on pages 1 to 3, and are incorporated into this report by cross-reference.

In accordance with the company's articles, a resolution proposing that PricewaterhouseCoopers LLP be reappointed as auditors of the company will be put at a General Meeting.

As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law).

Under company law, directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• state whether applicable United Kingdom Accounting Standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements;

• make judgements and accounting estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are also responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006.

The financial statements on pages 10 to 24 were approved by the Board of Directors on ..................

In our opinion, YETI UK Limited's financial statements:

• give a true and fair view of the state of the company's affairs as at 3 January 2026 and of its profit for the 53 week period then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", and applicable law); and

• have been prepared in accordance with the requirements of the Companies Act 2006.

We have audited the financial statements, included within the Annual Report, which comprise:

• the balance sheet as at 3 January 2026;

• the statement of comprehensive income for the period then ended;

• the statement of changes in equity for the period then ended; and

• the notes to the financial statements which include a description of the significant accounting policies.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) ("ISAs (UK)") and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We remained independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

Conclusions relating to going concern

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the company's ability to continue as a going concern.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Reporting on other information

The other information comprises all of the information in the Annual Report other than the financial statements and our auditors’ report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report based on these responsibilities.

With respect to the Strategic report and Directors' Report, we also considered whether the disclosures required by the Companies Act 2006 have been included.

Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report certain opinions and matters as described below.

Strategic report and Directors' Report

In our opinion, based on the work undertaken in the course of the audit, the information given in the Strategic report and Directors' Report for the period ended 3 January 2026 is consistent with the financial statements and has been prepared in accordance with applicable legal requirements.

In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we did not identify any material misstatements in the Strategic report and Directors' Report.

Responsibilities of the directors for the financial statements

As explained more fully in the Directors' Responsibilities Statement, the directors are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The directors are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to UK tax legislation and the Companies Act 2006, and we considered the extent to which non-compliance might have a material effect on the financial statements. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting of inappropriate journal entries to manipulate financial results; management bias in accounting estimates; and inappropriate treatment of significant transactions outside the normal course of business. Audit procedures performed by the engagement team included:

• Discussions with management in respect of any known or suspected instances of non-compliance with laws and regulations and any fraud matters;

• Challenging assumptions and judgements made by management for evidence of bias in determining accounting estimates including those related to stock provisioning;

• Identifying and testing unusual journal entries, in particular those posted with unusual account combinations;

• Gaining an understanding and testing any significant transactions outside of the normal course of business

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.

Use of our report

This report, including the opinions, has been prepared for and only for the company's members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.

Other required reporting

Companies Act 2006 exception reporting

Under the Companies Act 2006 we are required to report to you if, in our opinion:

• we have not obtained all the information and explanations we require for our audit; or

• adequate accounting records have not been kept by the company or returns adequate for our audit have not been received from branches not visited by us; or

• the company's financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors's remuneration specified by law are not made.

We have no exceptions to report arising from this responsibility.

The profit and loss account has been prepared on the basis that all operations are continuing operations. There was no other comprehensive income for the period.

The notes on pages 13 to 24 form part of these financial statements.

The notes on pages 13 to 24 form part of these financial statements.

The notes on pages 13 to 24 form part of these financial statements.

YETI UK Limited is a private company limited by shares incorporated in the United Kingdom. The registered office is First Floor, The Landing 125 Redcliff Street Bristol BS1 6HU United Kingdom.

These financial statements have been prepared in accordance with FRS 102,The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102") and the requirements of the Companies Act 2006.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 3 Financial Statement presentation paragraph 3.17 (d)

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements are prepared in Euros (€), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest €.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Accounting policies have been applied consistently, other than where new policies have been adopted.

The financial statements of the company are consolidated in the financial statements of YETI Holdings, Inc. These consolidated financial statements are available from its registered office, 7601 Southwest Parkway, Austin, Texas, 78735, USA.

The Company opted to apply section 390 (3) of the Companies Act 2006 in the current year. This permitted the Company to end its financial period on 3rd January 2026 as it is not more than seven days after or before the end of the year dated 31st December 2025.

The company is applying section 11 and 12 of FRS 102 in respect of recognition and measurement of financial instruments.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

This is supported by the overall net asset position of the balance sheet. The Company has been provided a Letter of Support from YETI Holdings, Inc. which confirms that they will provide financial support to the Company to allow them to continue to operate as a going concern and settle their liabilities as they fall due. They have confirmed that they will not seek the repayment of amounts advanced to the Company unless adequate alternative financing has been secured and they will advance further amounts to the Company as required. Thus YETI UK Limited continues to adopt the going concern basis in preparing the financial statements.

Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the Company and value added taxes.

The Company bases its estimate of returns on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

The Company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the Company retains no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably; (d) it is probable that future economic benefits will flow to the Company and (e) when the specific criteria relating to each of the entities sales channels have been met, as described below.

Sale of goods - internet based transactions

The Company sells goods via its website for delivery to the customers. Revenue is recognised when the risks and rewards of the inventory are passed to the customer. Transactions are settled by credit or payment card.

Sale of goods - wholesale/corporate sales

The Company sells goods to wholesale and corporate customers via raising invoices. Revenue is recognised when the risks and rewards of the inventory are passed to the customer. For deliveries to wholesale and corporate customers this is the point of shipment.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Market Support payments are provided by the parent company to offset the impact of transfer pricing on the Cost of Goods Sold (COGS) value, and to allow the company to trade within an agreed profit range for a Limited Risk Distributor. This is presented within Other operating income within the Statement of comprehensive income.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Amortisation of intangible assets is presented within Administrative expenses.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks solely consist of finished goods and are stated at cost. Stocks are recognised as an expense in the period in which the related revenue is recognised.

Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, duties and transport and handling directly attributable to bringing the stock to its present location and condition. During the periods ended 3rd January 2026 and 28th December 2024, all stocks were purchased according to the intercompany agreements under YETI Holdings, Inc., the ultimate parent and controlling entity of the company.

Stock is evaluated for obsolescence or in excess of forecasted usage based on various factors, including historical and expected future sales. Write-downs for obsolescence or for losses of inventories are recognised as an expense in the period the impairment or loss occurs. Notwithstanding the foregoing, the Company has the ability in the intercompany agreements under YETI Holdings, Inc. to sell back identified obsolete or excess inventory at cost.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The financial statements are prepared in Euros (€) and accordingly foreign currency transactions are translated at the spot rate of exchange on the day the transaction occurs.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period are addressed below.

i. Inventory provision (note 1.6)

YETI UK Limited recognises a provision for inventory based on a number of factors, which are influenced by the parent company's assessment of the ability to sell through inventory across the global group. The factors include:

• quality of the goods, are they resellable?

• age of the colourway and if there is any future sale options via different sales channels,

• global demand for the goods and can they be sent to a region with more sales opportunities,

• slow moving items v future sales opportunities,

• end of life items that have no further sales opportunities.

In the current period, YETI UK Limited has recognised a provision for stock which is not expected to sell due to damage and age of the colourway.

The Company generates revenue from the sale of goods through its Direct-to-Consumer and wholesale sales channels in the United Kingdom and Europe.

The average monthly number of persons (including directors) employed by the company during the period was:

Their aggregate remuneration comprised:

The directors are remunerated by YETI Coolers LLC, which does not recharge any portion to the Company. Accordingly, no remuneration has been included in these financial statements. It is not practical to allocate the amount for services in respect of the Company.

During the year, the Group reviewed the corporation tax treatment of amortisation arising on the acquisition of the VVast website, following discussions during the audit process. As a result, this amortisation has been treated as a permanent difference for corporation tax purposes. This treatment has been reflected by way of disclosure only and has not resulted in any adjustment to the current year corporation tax charge recognised in the financial statements.

The deferred tax movement for the year includes a tax credit of €3,382 arising from the reversal of a deferred tax balance recognised in prior periods. This movement has been recognised within deferred tax and does not impact the current year corporation tax charge.

Cost of stock is included as an expense to cost of sales within the period.

As at 3 January 2026, the amount of €17,120,345 (2024: 19,706,273) is payable to group undertakings. They are repayable on demand. The repayment of these amounts is made on a discretionary basis, depending on the availability of sufficient funds within the entity. There are no interest or penalty charges associated with the outstanding balances.

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

The following are the deferred tax liabilities and assets recognised by the company and movements thereon:

There have been no events since the balance sheet date which require disclosure.

The company has taken advantage of the exemption in FRS 102 paragraph 33 not to disclose transactions with wholly-owned members of the group.

During the year, there were no transactions with directors or other key management personnel requiring disclosure under FRS 102.The parent, ultimate parent and controlling entity, and the largest and smallest group for which consolidated financial statements are prepared, is YETI Holdings, Inc., a publicly traded company incorporated in the United States with its shares listed on the New York Stock Exchange (NYSE symbol: YETI). Copies of the consolidated financial statements of YETI Holdings, Inc. can be obtained from its global corporate headquarters located at 7601 Southwest Parkway, Austin, Texas, 78735, USA.