On October 5, 2026, Camping World Holdings, Inc. (the "Company") announced that, reflecting the operating trends and other factors described below, the Company now expects full-year 2026 Adjusted EBITDA to be below the low end of its previously communicated guidance range of $230 million to $270 million. The Company’s current outlook takes into account a broad range of potential outcomes amid continued uncertainty regarding macroeconomic conditions and RV industry demand.

As noted on the Company’s 2026 second quarter earnings call, combined new and used vehicle unit sales softened sequentially in July. These unit trends remained soft through the quarter, contributing to a more promotional environment for new vehicles across the RV industry as competing dealers worked to align inventory levels with weaker demand. Although the Company has seen unit sales declines progressively moderate to a degree during August and September, new vehicle front-end margins have remained under greater pressure than previously expected. In addition, certain macroeconomic factors impacting the guidance, including movements in energy prices and interest rates, have become less favorable, further pressuring the Company’s near-term demand and vehicle margin outlook.

In response to these conditions, the Company has accelerated certain elements of its previously announced $100 million of SG&A savings and operating efficiency initiatives. Further, the Company has identified and implemented additional headcount reductions expected to generate at least $50 million in incremental annualized savings, intended to improve operating leverage, support margins and strengthen cash flow. These actions include the closure of four dealerships, two of which the Company currently intends to reopen at a later date. The Company expects to enter the fourth quarter with a more streamlined cost structure and ongoing initiatives intended to enhance profitability and cash generation.

The Company is exploring the refinancing of its existing term loan facility with the goal of increasing the Company’s financial flexibility. The Company is considering a range of possible refinancing alternatives, which are expected to include new term loans and other senior secured debt. Consummation of the potential refinancing is subject to market and other customary conditions, including, among other things, the execution of definitive documentation. There can be no assurances as to the terms and conditions on which the potential refinancing may be consummated, or that the potential refinancing will be consummated at all.