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Yeti Announces Launch of Secondary Offering of Shares of Common Stock by Selling Stockholders

May 6, 2019

AUSTIN, Texas--(BUSINESS WIRE)--May 6, 2019--YETI Holdings, Inc. (“YETI”) (NYSE: YETI) announced today the commencement of an underwritten public offering (the “Offering”) of 9,500,000 shares of YETI’s common stock by certain of its stockholders. In connection with the Offering, the selling stockholders intend to grant to the underwriters a 30-day option to purchase up to an additional 1,425,000 shares of YETI’s common stock. YETI is not offering any shares of its common stock in the Offering and will not receive any proceeds from the sale of shares in the Offering.

BofA Merrill Lynch, Jefferies, and Morgan Stanley are acting as lead book-running managers and as representatives of the underwriters for the Offering.

A registration statement on Form S-1 relating to the Offering has been filed with the Securities and Exchange Commission, but has not yet become effective. The shares of common stock included in the Offering may not be sold nor may offers to buy be accepted prior to the time the registration statement on Form S-1 becomes effective. The Offering may be made only by means of a prospectus. A copy of the preliminary prospectus relating to the Offering, when available, may be obtained from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at dg.prospectus_requests@baml.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by phone at 1-877-821-7388 or by email at Prospectus_Department@Jefferies.com; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About YETI Holdings, Inc.

YETI is a designer, marketer, retailer, and distributor of a variety of innovative, branded, premium products to a wide ranging customer base. Our mission is to ensure that each YETI product delivers exceptional performance and durability in any environment, whether in the remote wilderness, at the beach, or anywhere else life takes our customers. By consistently delivering high performing products, we have built a following of engaged brand loyalists throughout the United States, Canada, Japan, Australia, and elsewhere, ranging from serious outdoor enthusiasts to individuals who simply value products of uncompromising quality and design. Our relationship with customers continues to thrive and deepen as a result of our innovative new product introductions, expansion and enhancement of existing product families, and multifaceted branding activities.

Forward-Looking and Cautionary Statements

This press release contains ‘‘forward-looking statements’’ within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements. Forward-looking statements include statements concerning the terms of the Offering and the completion, timing, and size of the Offering. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond YETI’s control, including, without limitation, risks and uncertainties related to market conditions, that the size of the Offering could change or the Offering could be terminated, and the satisfaction of customary closing conditions related to the Offering. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in the section entitled “Risk Factors” and elsewhere in YETI’s Quarterly Report on Form 10-Q for the quarter ended March 30, 2019, and in the registration statement on Form S-1 related to the Offering filed with the Securities and Exchange Commission. The forward-looking statements included in this press release represent YETI’s views as of the date of this press release. YETI undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changes in YETI’s expectations or otherwise. These forward-looking statements should not be unduly relied upon or represent YETI’s views as of any date subsequent to the date of this press release.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190506005773/en/

CONTACT: Investor Relations Contact:

Tom Shaw, 512-271-6332

Investor.relations@yeti.comMedia Contact:

Alecia Pulman, 203-682-8224

alecia.pulman@icrinc.com

Brittany Fraser, 646-277-1231

brittany.fraser@icrinc.com

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: OUTDOORS RETAIL SPECIALTY OTHER RETAIL SPORTS

SOURCE: YETI Holdings, Inc.

Copyright Business Wire 2019.

PUB: 05/06/2019 04:39 PM/DISC: 05/06/2019 04:40 PM

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