Celsius Energy Drink Investor Presentation Sept 2020

1. NASDAQ: CELH
NASDAQ: CELH
November 2 020
November 2 020
Nasdaq: CELH

10. TOTAL
CATEGORY
$9.7
BILLION
+44% GROWTH
OUTPACING GROWTH 11.6X
C O M M E N T A R Y
 The Company is outpacing the category growth in the convenience channel by a measure of 11.6x
 Per the latest SPIN 52-week ending 10-4-20 12, convenience scan data brand Celsius
Grew 44% YoY and is ranked one of the Top 11 Brands in the category with only an
All-Commodity Volume of 15%, that’s all accumulated volume
 Validating the strong demand by their portfolio
CELSIUS BRAND RANKED 11th TOP BRAND WITH ONLY 15% ACV
200+ BRANDS GROWING 4.0%
(1) ACV represents the total annual sales volume of retailers that can be aggregated from individual store-level up to larger geographical sets
Latest 52 Weeks Ending 10/4/2020; SHELF STABLE FUNCTIONAL BEVERAGES; TPL; SPINSscan Conventional Markets Total US – CONVENIENCE

11. Route to
Market –
Strong
Customer
Base
Increasing
Penetration
Across Major
Distribution
Channels to ~80k
retail locations

13. DSD - Benefits
• Improved Store Execution
• Increased SKU Placements
• Improved Velocity Rates
• Increased Distribution
• Cost Savings
147 Premier DSD Partners
79,000 Retail Locations

21. $8 $9
$17
$9
$14
$23
$12
$24
$36
$14
$39
$53
$16
$60
$75
$28
$67
$95
$0
$10
$20
$30
$40
$50
$60
$70
$80
$90
$100
International Domestic Full Company
In
Millions
2015 2016 2017 2018 2019 9M20
Financial Profile YoY
Celsius Financial Performance
Despite some seasonality & International orders, business reflects an overall continued growth
CAGR: ~36% CAGR: ~58% CAGR: ~49%
Growth Trends in Revenue By Quarter (Unaudited)
$6.6 $5.9 $6.7 $8.1 $8.5
$11.4 $11.0 $11.4
$14.4
$16.8 $17.1
$19.4 $20.8
$26.9
$3.6 $4.9 $2.4
$4.0
$0.8
$5.2
$3.6 $3.1
$1.7
$3.7
$7.1
$8.8
$9.2
$10.0
$10.2 $10.8
$9.1
$12.1
$9.3
$16.6
$14.6 $14.5
$16.1
$20.4
$24.1
$28.2
$30.0
$36.8
($3.0)
$2.0
$7.0
$12.0
$17.0
$22.0
$27.0
$32.0
$37.0
$42.0
U.S Int.
21

22. Celsius Financial Performance (cont’d)
Growth Margin Profile
Strong gross margin profile and highly scalable business model
• 9M 2020 saw GM% benefit from Nordic Acquisition & scale
• Gross profit profile allows for meaningful operating margins at scale
• Competitors such as Monster, exclude out-bound freight as part of cost of sales, when profits are
“normalized” on a comparable basis, Celsius Margins are approximately 50%
Gross Profit “Normalization” by Year
22
45.8%
52.0%
0.0%
20.0%
40.0%
60.0%
9mYTD
As Reported W/O Freight
43.0% 41.2%
46.1% 45.80%
51.8% 52.2% 53.5% 52.60%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
2017 2018 2019 YTD 2020
As Reported W/O Outbound Freight

23. 9M Ended 2020 Financial Snapshot
23
Cash $52m
Total Inventory $15.7m
Total Shares Outstanding 74.8M
Net Income $6.9m
Non-GAAP Adjusted EBITDA $12.2m
Revenue $95m, up 86%
- North America Revenue $67m, up 57%
Gross Profit $44m, up 105%
- Gross Margin 45.8%, excluding Outbound Freight 52.7%
Celsius Delivered
Record Third Quarter
on Revenue up 80%
7 Consecutive Quarters of
“Quarter over Quarter”
Growth in North America

24. Key
Investors
Li Ka-Shing
Horizons Ventures: investment
arm of Mr. Li Ka-Shing. Asia’s
wealthiest individual. Assets
include over 15,000 health &
beauty retail locations
Carl DeSantis
Former Founder and Chairman of
ReXall Sundown Inc. which he built
into the world’s leading nutritional
supplement supplier, sold for $1.8
billion in 2000
24

25. Key
Management
Executive Management
EDWIN NEGRON-CARBALLO – CFO
• Joined Celsius in 2018
• Over 30 years of domestic and international financial and operational experience
• Previously worked at Concurrent Manufacturing Solutions, Sodexo S.A., Tyco Healthcare-Latin America,
Energizer Battery, Frito-Lay and KPMG-Peat Marwick
• Member of the Board of Directors of BAS, S.A.
• Named Top 25 Hispanic Business Corporate Elite
• B.S Degree in Accounting from Louisiana State, MBA the John M. Olin School of Business at Washington
University in St. Louis; Certified Public Accountant
JOHN FIELDLY – PRESIDENT & CEO
• Joined Celsius in 2012
• Over 20 years of broad financial and operational experience with extensive consumer goods background
• Held leadership roles at Lebhar-Friedman, a B2B Media Company that served the retail industry
• Began his career in retail within FDM channel through various leadership roles with the Eckerd
Corporation; supported the sale to CVS in 2004
• B.S in Accounting from University of South Florida; Certified Public Accountant

26. Insurance
Banking
Public official
Tony Lau
CO-CHAIRMAN
Nick Castaldo
DIRECTOR
Thomas E. Lynch
DIRECTOR
Finance and accounting
President CDS International
Holdings
Financial career includes roles
with: Price Waterhouse, General
Cinema Corp, Pepsi,
independent bottler
New product development
TV show “Shark Tank” alumni
Launched over 500 products
“As seen on TV” infomercial
pioneer
Horizons Ventures
Asian market expert
IB professional, M&A
William H. Milmoe
CO-CHAIRMAN
Kevin Harrington
DIRECTOR
Consumer services business
Chain restaurant, banking and
retailing
Equity Partner and member of
the founding management
team of Anthony’s Coal Fired
Pizza
Hal Kravitz
DIRECTOR
Extensive CPG/Beverage career and
experience across all business functions
Chairman, Board of Directors
Certified Management Group
Former CEO AQUA Hydrate
30 Year career at the Coca-Cola Company,
most recently, President, Glaceau Division
Celsius CEO and prior CFO
Career includes roles with:
Oragenics leader in novel
antibiotics and proprietary OTC
probiotics, Lebhar-Friedman
leader in B2B publishing, Eckerd
Corporation
John Fieldly
DIRECTOR
Caroline Levy
DIRECTOR
Consumer industry stock analyst
for more than 30 years and brings
a long-term, global perspective of
the beverage industry
Capital markets expertise and an
extensive network of industry and
investor relationships

28. I N V E S T O R R E L A T I O N S
C O M P A N Y C O N T A C T S
John Fieldly, CEO
Celsius Holdings, Inc.
561.276.2239
jfieldly@celsius.com
Edwin Negron, CFO
Celsius Holdings, Inc.
561.900.2351
enegron@celsius.com
Cameron Donahue
Celsius IR
651.707.3532
cdonahue@Celsius.com
VISIT OUR NEW INVESTOR WEBSITE:
www.celsiusholdingsinc.com
CELSIUS HOLDINGS, INC.

29. China Business Model - Cashflow Recap - APPENDIX
- Cashflows start in 2020 = > ~$1.875m USD
- - ~45% of investment is recouped by 3 Yr.
China Business Model Recap
X-Rate 7.07
Cash Summary: Royalty Interest Principal USD Cumm
Payments Payments Payments Total %
2020 340,156 371,781 1,162,617 1,874,553 10%
2021 750,566 351,966 1,743,926 2,846,458 24%
2022 1,440,453 288,641 2,325,234 4,054,328 45%
2023 1,874,300 217,093 2,906,543 4,997,936 70%
2024 2,165,460 154,790 3,487,851 5,808,101 100%
Totals 6,570,934 1,384,270 11,626,171 19,581,375