HOBBY TOWN USA & HOBBY USA

Data Based On: 87 franchised stores open for full year 2023 that reported complete financial information

* Average gross revenue and median gross revenue are taken directly from Table 1, 'Gross Revenue' and 'Median' columns. Average gross profit is taken directly from Table 1, 'Gross Profit' and 'Average' columns. Revenue top quartile is taken from Table 2 ('1st Quartile Gross Revenue'), 'Average' column. Revenue bottom quartile is taken from Table 5 ('4th Quartile Gross Revenue'), 'Average' column. Average net profit is represented by 'Adjusted Operating Income' from Table 1, 'Average' column, as defined in Note 9: Gross Profit minus Total Adjusted Operating Expenses. Note 8 clarifies that Total Adjusted Operating Expenses explicitly excludes interest, owner payroll, and other discretionary items, aligning with the definition of operating profit before taxes and interest. Best guess profit low/high are based on the 'Low' and 'High' values for 'Adjusted Operating Income' from Table 1.