OneWater Marine Inc. Provides COVID-19 Business Update - Seite 2

Financial Strength and Flexibility

As of March 24, 2020, OneWater had cash on hand of approximately $10 million and $10 million of available borrowings on its revolver. In addition, at any given time, the Company has additional liquidity of approximately $5 to $10 million in the form of unlevered inventory. In March 2020, OneWater also invoked its option to defer payment of interest on its Senior Term Loan Facility for a period of 12 months, which will reduce annual cash interest payments by approximately $8.5 million. There are no principal payments due on the Senior Term Loan Facility until March 2022.

Fiscal Year 2020 Outlook

In light of the significant uncertainty that exists as a result of the COVID-19 virus, OneWater has withdrawn its fiscal year 2020 guidance provided on the Company’s fiscal first quarter 2020 earnings call on February 27, 2020. The Company expects to provide additional updates on its fiscal second quarter 2020 earnings call.

About OneWater Marine Inc.

OneWater Marine Inc. is one of the largest and fastest-growing premium recreational boat retailers in the United States. OneWater operates 63 stores throughout 11 different states, eight of which are in the top twenty states for marine retail expenditures. OneWater offers a broad range of products and services and has diversified revenue streams, which include the sale of new and pre-owned boats, parts and accessories, finance and insurance products, maintenance and repair services and ancillary services such as boat storage.

Cautionary Statement Concerning Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including regarding our strategy, future operations, financial position, prospects, plans and objectives of management, growth rate and its expectations regarding future revenue, operating income or loss or earnings or loss per share. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “will be,” “will likely result,” “should,” “expects,” “plans,” “anticipates,” “could,” “would,” “foresees,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “outlook” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. These forward-looking statements are not guarantees of future performance, but are based on management's current expectations, assumptions and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct.