Columbia Sportswear Company Reports First Quarter 2022 Financial Results and Updates Full Year 2022 Financial Outlook; Announces $500 Million Increase to Stock Repurchase Authorization

First Quarter 2022 Highlights

• Net sales increased 22 percent to a record $761.5 million, compared to first quarter 2021.

• Operating income increased 19 percent to $83.7 million, or 11.0 percent of net sales, compared to first quarter 2021 operating income of $70.5 million, or 11.3 percent of net sales.

• Diluted earnings per share increased 23 percent to $1.03, compared to first quarter 2021 diluted earnings per share of $0.84.

• The Company repurchased $217.3 million of common stock during the first quarter.

• On April 22, 2022, the Board of Directors approved a $500 million increase to the Company’s share repurchase authorization.

Full Year 2022 Financial Outlook

The following forward-looking statements reflect our expectations as of April 28, 2022 and are subject to significant risks and business uncertainties, including those factors described under “Forward-Looking Statements” below. Additional disclosures and financial outlook details can be found in the Full Year 2022 Financial Outlook section below, our Current Report on Form 8-K filed April 28, 2022, and the CFO Commentary and Financial Review presentation attached thereto.

• Net sales of $3.63 to $3.69 billion (unchanged) representing net sales growth of 16 to 18 percent (unchanged) compared to 2021.

• Operating income of $477 to $502 million (prior $472 to $498 million), representing operating margin of 13.2 to 13.6 percent (prior 13.0 to 13.5 percent).

• Diluted earnings per share of $5.70 to $6.00 (prior $5.50 to $5.80).

PORTLAND,…