Driven Brands sets 2-3x net leverage target, authorizes $100M buyback

Driven Brands Holdings Inc.

Board authorized $100M share repurchase, about 5% of market cap; no expiration.
New long-term net leverage target of 2-3x Net Debt/Adj. EBITDA.
Expects 3.0x net leverage at end of Q3 2026, a quarter ahead of plan, down from 5.0x end-2023.
Repurchases via open-market or 10b5-1 plans, funded from cash and operating flows.
Company will continue investing in Take 5 growth, including potential acquisitions.

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