Five Below Q4 EPS $3.65, net sales $1.34B; guides FY24 EPS $5.71-$6.22

For the fourth quarter ended February 3, 2024: • Net sales increased by 19.1% to $1.34 billion from $1.12 billion in the fourth quarter of fiscal 2022. Excluding the impact of the 53rd week in fiscal 2023, net sales increased 14.9%; comparable sales increased by 3.1% on a thirteen week basis. • Net sales in the 53rd week were $48.1 million and represented approximately $0.15 cents in diluted earnings per share. • The Company opened 63 net new stores and ended the quarter with 1,544 stores in 43 states. This represents an increase in stores of 15.2% from the end of the fourth quarter of fiscal 2022. • Operating income was $268.4 million compared to $225.8 million in the fourth quarter of fiscal 2022. • The effective tax rate was 25.8% compared to 24.8% in the fourth quarter of fiscal 2022. • Net income was $202.2 million compared to $171.3 million in the fourth quarter of fiscal 2022. • Diluted income per common share was $3.65 compared to $3.07 in the fourth quarter of fiscal 2022. The

For the fiscal year ended February 3, 2024: • Net sales increased by 15.7% to $3.56 billion from $3.08 billion in fiscal 2022. Excluding the impact of the 53rd week in fiscal 2023, net sales increased 14.1%; comparable sales increased by 2.8% on a fifty-two week basis. • Net sales in the 53rd week were $48.1 million and represented approximately $0.15 cents in diluted earnings per share. • The Company opened 204 net new stores compared to 150 new stores in fiscal 2022. • Operating income was $385.6 million compared to $345.0 million in fiscal 2022. • The effective tax rate was 24.9% compared to 24.7% in fiscal 2022. • Net income was $301.1 million compared to $261.5 million in fiscal 2022. • Diluted income per common share was $5.41 compared to $4.69 in fiscal 2022. The benefit from share-based accounting was approximately $0.07 in fiscal 2023 compared to approximately $0.04 in fiscal 2022.

For the first quarter of Fiscal 2024: • Net sales are expected to be in the range of $826 million to $846 million based on opening approximately 55 to 60 new stores and assuming an approximate flat to 2% increase in comparable sales. • Net income is expected to be in the range of $32 million to $38 million. • Diluted income per common share is expected to be in the range of $0.58 to $0.69 on approximately 55.6 million diluted weighted average shares outstanding.

For the full year of Fiscal 2024: • Net sales are expected to be in the range of $3.97 billion to $4.07 billion based on opening between 225 and 235 new stores and assuming an approximate flat to 3% increase in comparable sales. • Net income is expected to be in the range of $318 million to $346 million. • Diluted income per common share is expected to be in the range of $5.71 to $6.22 on approximately 55.6 million diluted weighted average shares outstanding.