Form 8-K

8-K — Vestis Corp

Accession: 0001628280-26-055485

Filed: 2026-08-11

Period: 2026-08-11

CIK: 0001967649

SIC: 5190 (WHOLESALE-MISCELLANEOUS NONDURABLE GOODS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — vsts-20260811.htm (Primary)

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XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: vsts-20260811.htm · Sequence: 1

vsts-20260811

0001967649FALSE00019676492026-08-112026-08-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________

FORM 8-K

___________________________

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

August 11, 2026

Date of Report (Date of earliest event reported)

___________________________

Vestis Corporation

(Exact name of Registrant as Specified in its Charter)

___________________________

Delaware

001-41783

92-2573927

(State or other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

1035 Alpharetta Street,Suite 2100,

Roswell, Georgia

30075

(Address of Principal Executive Offices)

(Zip Code)

(470) 226-3655

(Registrant's Telephone Number, Including Area Code)

___________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol(s)

Name of Each Exchange on which Registered

Common Stock, par value $0.01 per share

VSTS

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02.    Results of Operations and Financial Condition.

On August 11, 2026, the Company issued a press release announcing the results of the Company’s operations for the quarter ended July 3, 2026. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in this Item 2.02.

The information set forth under this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01.    Financial Statements and Exhibits.

(d)Exhibits

Exhibit

No.

Description

99.1

Press release of Vestis Corporation, dated August 11, 2026, announcing results for the quarter ended July 3, 2026.

99.2

Supplementary materials to be used during webcast conference call on August 11, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Vestis Corporation

Date: August 11, 2026 By: /s/ Adam K. Bowen

Name: ADAM K. BOWEN

Title: Interim Chief Financial Officer

(Principal Financial Officer)

EX-99.1

EX-99.1

Filename: vstsq3fy26earningsrelease-.htm · Sequence: 2

Document

Vestis Reports Third Quarter 2026 Results and Increases Full Year 2026 Outlook

Increases full year 2026 Free Cash Flow* outlook by $30 million, or 22%, at the midpoint; On track to deliver against full year 2026 revenue and Adjusted EBITDA* guidance supported by strong execution

ATLANTA, GA, August 11, 2026 – Vestis Corporation (NYSE: VSTS), a leading provider of uniforms and workplace supplies, today announced its financial results for the fiscal third quarter ended July 3, 2026.

Third Quarter 2026 Highlights

(All comparisons versus the prior-year period)

•Revenue of $661.7 million

•Net Income of $11.0 million or $0.08 per diluted share and Adjusted Net Income* of $24.2 million or $0.18 per diluted share

•Adjusted EBITDA* of $80.9 million

•Net Income as a percentage of revenue of 1.7% and Adjusted EBITDA Margin* of 12.2%

•Cash Flow Provided by Operating Activities of $64.9 million, Free Cash Flow* of $47.0 million, and Adjusted Free Cash Flow* of $55.5 million

•Repaid $30 million of debt

•Available liquidity of $351.8 million, including $57.7 million Cash and Cash Equivalents on hand, at the end of the quarter

Management Commentary

"During the fiscal third quarter, we continued to deliver against our commitments for the year, advancing our strategic transformation through disciplined operational and commercial execution," said Jim Barber, President and CEO. "Operationally, we continued to see improvements in plant productivity and on-time delivery while lowering our overall operating expenses. Commercially, our pricing and segmentation initiatives gained traction as we exited more unprofitable volume, and for the first time as a public company, Revenue Per Pound increased while Cost Per Pound* remained flat on a year-over-year basis. Together, these efforts delivered a second consecutive quarter of improved Adjusted EBITDA* and Operating Leverage*.”

"Our total revenue and Revenue Per Pound improved sequentially as we continued to build commercial momentum supported by our strategic transformation,” concluded Barber. "We also generated strong cash flow during the quarter and with liquidity of over $350 million, we remain well positioned to continue allocating capital to the highest-return areas of the business while reducing debt. Our priorities remain focused on commercial excellence: executing to a data-driven standard across every market center, fueling profitable growth and market share expansion amidst a backdrop of shifting market dynamics.”

Strategic Business Transformation

During its fiscal first quarter of 2026, the Company launched a strategic business transformation plan (“the Plan”) designed to make the Company more customer focused, agile and efficient – while positioning it for long-term profitable growth. Once fully implemented, the Plan is expected to generate annualized operating cost savings of at least $75 million and to enhance revenue. The Company estimates

*A non-GAAP measure, see accompanying non-GAAP measure explanations and reconciliations later in this release.

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approximately $50 million of in-year benefit to fiscal 2026 from the Plan, with roughly $30 million already realized, as expected, through the fiscal third quarter. The Plan is structured around three strategic priorities: Operational Excellence, Commercial Excellence and Asset & Network Optimization. During the fiscal third quarter of 2026, Vestis advanced its strategic transformation priorities in the following ways:

•Operational Excellence: The Company reduced its operating expenses while improving service quality. The Company also lowered its cost of services, which includes merchandise, plant and delivery costs, while improving plant productivity by 9%. These initiatives further enhanced the customer experience, driving an 80bps improvement in on-time deliveries and a 74bps reduction in customer complaints during the period. The Company also streamlined its corporate support functions by partnering with a leading third-party provider, creating a more efficient and agile corporate support organization to better serve its markets and customers. The Company expects this outsourcing arrangement to generate approximately $10 million in annual SG&A savings beginning in fiscal 2027 with some benefits realized as early as the fourth fiscal quarter of 2026.

•Commercial Excellence: Vestis advanced its strategic pricing execution through improved commercial practices and the deployment of robust decision-support processes that drove pricing strength over the prior year. These efforts supported a 3% increase in Revenue Per Pound during the quarter in addition to year-over-year revenue growth in the Company’s Canadian segment. The initiatives emphasize disciplined pricing and product profitability structured at the customer level to deliver value for both customers and shareholders.

•Asset & Network Optimization: The Company continued to evaluate its network across key markets, leveraging available capacity to identify growth and optimization opportunities to further strengthen operating leverage. The Company is analyzing its network through a market segmentation approach while executing route optimization initiatives in select areas, with plans to expand as market dynamics evolve. These actions are designed to improve route efficiency, optimize costs, and strengthen network performance. The Company also continued to market non-operating properties for sale to further optimize its asset base and service network.

Vestis continues to demonstrate significant progress against its transformation priorities, driving a more favorable product mix and stronger pricing discipline resulting in year-over-year Revenue Per Pound growth supporting Operating Leverage* returning to its highest level since the fiscal third quarter of 2024. The Company’s strong year-to-date results establish a solid platform for profitable growth moving into fiscal 2027.

Third Quarter 2026 Financial Performance

Revenue for the fiscal third quarter was $661.7 million, as compared to $673.8 million in the prior year, a decline of $12.1 million or 1.8%. Volume in pounds processed declined 4.5% during the quarter when compared to the prior year, the impact of which was partly offset by improvements in strategic pricing and sales product mix.

Net income for the fiscal third quarter increased by $11.7 million to $11.0 million or $0.08 per diluted share, compared to a net loss of $(0.7) million, or $(0.01) per diluted share. Net income (loss) as a percentage of revenue was 1.7% during the fiscal third quarter of 2026, compared to (0.1)% in the prior year period.

Adjusted EBITDA* for the fiscal third quarter was $80.9 million and Adjusted EBITDA Margin* was 12.2%, compared to Adjusted EBITDA* of $64.0 million and Adjusted EBITDA Margin* of 9.5% for the fiscal third quarter of 2025. Adjusted EBITDA* for the fiscal third quarter of 2025 included an adjustment of $1.8 million for the write-off of pre-spin merchandise-in-service, which the Company was able to exclude solely for financial covenant purposes under the credit agreement. Excluding the write-off of merchandise-in-service, Covenant Adjusted EBITDA* was $65.8 million and Covenant Adjusted EBITDA Margin* was 9.8% in the fiscal third quarter of 2025, resulting in an increase of $15.0 million or 23% year-over-year. The

*A non-GAAP measure, see accompanying non-GAAP measure explanations and reconciliations later in this release.

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increase is primarily attributable to improvements in Revenue Per Pound and Operating Leverage* supported by the successful execution of the Plan.

Cash Flow and Balance Sheet

Net cash provided by operating activities during the fiscal third quarter of 2026 was $64.9 million and Free Cash Flow* was $47.0 million. Net cash provided by operating activities during the fiscal third quarter of 2026 includes $8.6 million in non-recurring cash payments associated with the Plan. Excluding the impact of these payments, Adjusted Free Cash Flow* improved by $47.5 million to $55.5 million, when compared to the fiscal third quarter of 2025. The increase in cash provided by operating activities reflects an $11.7 million improvement in net income in the fiscal third quarter of 2026 and a $4.3 million improvement in rental merchandise in service during the same period.

During the fiscal third quarter of 2026, the Company’s Investments in Capital Assets* were $23.0 million, which included $18.0 million in cash expenditures for property and equipment investments in plant operations and technological infrastructure, as well as $5.1 million in new finance leases for vehicles in our delivery fleet, supporting the Company’s transformation initiatives. For the first nine months of fiscal 2026, the Company’s Investments in Capital Assets* were $62.5 million, including $40.0 million in cash investments combined with $22.4 million in new finance leases.

During the fiscal third quarter, the Company utilized Free Cash Flow* to repay $30.0 million of principal on its outstanding debt. As of July 3, 2026, Vestis had total available liquidity of $351.8 million, including $57.7 million of cash and cash equivalents on hand.

Updated Fiscal Year 2026 Outlook

Today, the Company is updating its outlook for fiscal 2026. The Company now expects fiscal 2026 Free Cash Flow* to be in the range of $160.0 million to $170.0 million. The Company continues to expect fiscal 2026 revenue to be between flat to down 2%, as compared to normalized revenue excluding the impact of the additional operating week in fiscal 2025.

The Company expects fiscal 2026 Adjusted EBITDA* to be in the range of $310.0 million to $315.0 million with a midpoint of $312.5 million, an increase of $2.5 million. Based on the Company’s outlook, fiscal fourth quarter 2026 Adjusted EBITDA* is implied to be in the range of $84.0 million to $89.0 million.

FY 2025 Previous - FY 2026 Outlook Current - FY 2026 Outlook

(In Millions) Actual Low Mid High Low Mid High

Revenue Growth (4.4)% (2.0)% (1.0)% Flat (2.0)% (1.0)% Flat

Adjusted EBITDA* $272.6 $295.0 $310.0 $325.0 $310.0 $312.5 $315.0

Free Cash Flow* $5.9 $120.0 $135.0 $150.0 $160.0 $165.0 $170.0

*A non-GAAP measure, see accompanying non-GAAP measure explanations and reconciliations later in this release.

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Third Quarter 2026 Results Conference Call & Webcast

Vestis will host a conference call today Tuesday, August 11, at 8:30 a.m. Eastern Time to discuss its fiscal third quarter 2026 results.

For a live webcast of the conference call and to access the accompanying investor presentation, please visit the investor relations section of the Company’s website at www.vestis.com.

To participate in the live teleconference:

United States Live: 800-267-6316

International Live: 203-518-9783

Access Code: VSTSQ326

A replay of the live event will also be available on the Company’s website shortly after the conclusion of the call.

About Vestis™

Vestis is a leader in the B2B uniform and workplace supplies category. Vestis provides uniform services and workplace supplies to a broad range of North American customers from Fortune 500 companies to locally owned small businesses across a broad set of end sectors. The Company’s comprehensive service offering primarily includes a full-service uniform rental program, floor mats, towels, linens, managed restroom services, first aid supplies, and cleanroom and other specialty garment processing.

Investor Contact

Stefan Neely

Vallum Advisors

615-844-6248

ir@vestis.com

Media

Danielle Holcomb

470-716-0917

danielle.holcomb@vestis.com

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the securities laws. All statements that reflect our expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, forecasts relating to discussions of future operations and financial performance and statements regarding our strategy for growth, future product development, regulatory approvals, competitive position and expenditures. In some cases, forward-looking statements can be identified by words such as “potential,” “outlook,” “guidance,” “anticipate,” “continue,” “estimate,” “expect,” “will,” and “believe,” and other words and terms of similar meaning or the negative versions of such words. Examples of forward-looking statements in this release include, but are not limited to, statements regarding: the potential effects of our comprehensive actions to enhance both our commercial and operational processes, and our expectations regarding our updated fiscal year 2026 performance outlook. These forward-looking statements are subject to risks and uncertainties that may change at any time, and actual results or outcomes may differ materially from those that we expected. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict including, but not limited to: unfavorable macroeconomic conditions and geopolitical instability, including as a result of the military conflict among the United States, Israel and Iran, government shutdowns, inflationary pressures and higher interest rates; the failure to retain current customers, renew existing customer contracts and obtain new customer contracts, which could result in continued stock volatility and potential future goodwill impairment charges; competition in our industry; our ability to comply with certain financial ratios, tests and covenants in our credit agreement, including the Net Leverage Ratio; our significant indebtedness and ability to meet debt obligations and our reliance on an accounts receivable securitization facility; our ability to successfully execute or achieve the expected benefits of our business transformation and restructuring plan and other measures we may take in the future; increases in fuel and energy costs and other supply chain challenges and disruptions, including as a result of disruptions in international shipping through the Strait of Hormuz and the military conflicts in the Middle East and Ukraine; implementation of new or increased tariffs and ongoing changes in U.S. and foreign government trade policies, including potential modifications to existing trade agreements and retaliatory measures by foreign governments; increased operating costs and obstacles to cost recovery due to the pricing and cancellation terms of our support services contracts; a determination by our customers to reduce their outsourcing or use of preferred vendors; the outcome of legal proceedings to which we are or may become subject, including securities litigation claims that could result in significant legal expenses and settlement and damage awards; risks associated with suppliers from whom our products are sourced; challenge of contracts by our customers; currency risks and other risks associated with international operations, including compliance with a broad range of laws and regulations, including the United States Foreign Corrupt Practices Act; increases in labor costs or inability to hire and retain key or sufficient qualified personnel; continued or further unionization of our workforce; our expansion strategy and our ability to successfully integrate the businesses we acquire and costs and timing related thereto; natural disasters, global calamities, climate change, civil or political unrest, terrorist attacks, pandemics or other public health crises, and other adverse incidents; liability resulting from our participation in multiemployer-defined benefit pension plans; liability associated with noncompliance with applicable law or other governmental regulations; laws and governmental regulations including those relating to the environment, wage and hour and government contracting; unanticipated changes in tax law; new interpretations of or changes in the enforcement of the government regulatory framework; a cybersecurity incident or other disruptions in the availability of our computer systems or privacy breaches; stakeholder expectations relating to environmental, social and

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governance (“ESG”) considerations which may expose us to liabilities and other adverse effects on our business; any failure by Aramark to perform its obligations under the various separation agreements entered into in connection with the separation; and a determination by the IRS that the distribution or certain related transactions are taxable. The above list of factors is not exhaustive or necessarily in order of importance. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see the Company’s filings with the Securities and Exchange Commission (“SEC”), including “Item 1A-Risk Factors” in the Company’s most recent Annual Report on Form 10-K and in “Item 1A-Risk Factors” of Part II in subsequently-filed Quarterly Reports on Form 10-Q, which are available on the SEC’s website at www.sec.gov. Any forward-looking statement speaks only as of the date on which it is made, and we assume no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

Non-GAAP Financial Measures

Vestis reports its financial results in accordance with U.S. GAAP, but in this release and the non-GAAP reconciliations that follow, Vestis also uses the following non-GAAP measures: Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income (Loss), Adjusted Basic Earnings Per Share (“EPS”), Adjusted Diluted EPS, Free Cash Flow, Adjusted Free Cash Flow, Net Debt, Net Leverage Ratio, Covenant Adjusted EBITDA, Covenant Adjusted EBITDA Margin, Trailing Twelve Months Covenant Adjusted EBITDA, Adjusted Operating Expenses (presented solely in the calculations of Cost Per Pound and Operating Leverage Per Pound) and Investments in Capital Assets. Vestis believes that non-GAAP financial measures, when considered together with the corresponding U.S. GAAP financial measure, provide useful supplemental information to investors. Certain adjustment-based measures exclude items that management believes may not be indicative of or are unrelated to Vestis’ core operating results. Vestis uses these non-GAAP financial measures with U.S. GAAP financial measures and other operating data to assist in the evaluation of its operating performance. Vestis believes that presentation of these measures also helps investors because the measures enable better comparisons of Vestis’ historical results and allow investors to evaluate Vestis’ performance based on the same metrics that Vestis uses to evaluate its performance and trends in its results. However, these measures have limitations as analytical tools and should not be considered in isolation or as a substitute for Vestis’ results as reported under U.S. GAAP. Specifically, you should not consider these measures as alternatives to revenue, operating income, operating expenses, operating income margin, net income, net income margin or net cash provided by operating activities determined in accordance with U.S. GAAP. These non-GAAP financial measures also should not be considered as measures of cash available to Vestis to invest in the growth of Vestis’ business or cash that will be available to Vestis to meet its obligations. Non-GAAP financial measures as presented by Vestis may not be comparable to other similarly titled measures of other companies because not all companies use identical calculations. Reconciliations of non-GAAP financial measures to the most directly comparable U.S. GAAP measures are provided in the tables at the end of this release.

Adjusted EBITDA and Adjusted EBITDA Margin

Adjusted EBITDA represents net income adjusted for provision for income taxes; interest expense, net; and depreciation and amortization (EBITDA), further adjusted for share-based compensation expense; severance; business transformation costs; separation related charges; securitization fees; loss (gain) on sale of equity investments; third party debt amendment fees; legal reserves and settlements; gains, losses, and other items impacting comparability. Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by revenue. Adjusted EBITDA and Adjusted EBITDA margin are presented to provide a more meaningful comparison of Vestis’ operating performance by excluding items that management believes are not reflective of ongoing operations or that may obscure trends in the underlying business. Similar adjustments have been recorded in Adjusted EBITDA for earlier periods, and Vestis may record similar types of adjustments in future periods.

Adjusted Net Income (Loss), Adjusted Basic EPS and Adjusted Diluted EPS

Adjusted Net Income (Loss) represents net income (loss) adjusted to exclude items not considered indicative of Vestis’ core ongoing operations, including amortization expense, share-based compensation, severance charges, business transformation costs, separation-related charges, loss (gain) on sale of equity investments; third party debt amendment fees; legal reserves and settlements; gains, losses, and other items impacting comparability. Management believes this measure provides useful supplemental information by facilitating period-over-period comparisons of performance on a consistent basis.

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Adjusted Basic EPS and Adjusted Diluted EPS represent Adjusted Net Income (Loss) divided by the weighted-average number of basic and diluted shares outstanding, respectively.

Free Cash Flow and Adjusted Free Cash Flow

Free Cash Flow represents net cash provided by operating activities adjusted for purchases of property and equipment and other items. Free Cash Flow is presented because it reflects the cash generated from operations after capital expenditures necessary to maintain and improve operations. Free cash flow does not represent the residual cash flow available for discretionary expenditures, as there may be other nondiscretionary cash requirements not reflected in this measure. Adjusted Free Cash Flow represents Free Cash Flow adjusted for cash paid for strategic business transformation initiatives, including severance paid during the transformation period and third-party advisory fees.

Net Leverage Ratio, Net Debt, Covenant Adjusted EBITDA, Trailing Twelve Months Covenant Adjusted EBITDA and Covenant Adjusted EBITDA Margin

Net Leverage Ratio is defined in Vestis’ credit agreement and is calculated as consolidated total indebtedness in excess of unrestricted cash (referred to herein as “Net Debt”), divided by the Trailing Twelve Months Covenant Adjusted EBITDA. Net Debt represents total principal debt outstanding, letters of credit outstanding, and finance lease obligations, less cash and cash equivalents. Covenant Adjusted EBITDA represents Adjusted EBITDA, as further modified by certain items specifically permitted under the credit agreement to assess compliance with its financial covenants. Trailing Twelve Months Covenant Adjusted EBITDA represents Covenant Adjusted EBITDA for the preceding four fiscal quarters. Covenant Adjusted EBITDA Margin is defined as Covenant Adjusted EBITDA divided by revenue. Vestis believes that Net Leverage Ratio and its components are useful to investors because they are indicators of Vestis’ ability to meet its future financial obligations and are measures that are frequently used by investors and creditors.

Cost Per Pound and Adjusted Operating Expenses

Cost Per Pound represents the cost incurred to process laundry on a per-unit basis and is calculated as Adjusted Operating Expenses, as defined below, divided by the total pounds of laundry processed during the period. Management uses Cost Per Pound to assess operating efficiency by evaluating how effectively resources are utilized relative to processing volume.

Adjusted Operating Expenses represent operating expenses as reported under U.S. GAAP, adjusted to exclude depreciation and amortization, covenant adjusted bad debt expense, share-based compensation expense, severance, business transformation costs, loss (gain) on sale of equity investments, separation-related charges, legal reserves and settlements, third party debt amendment fees and gains, losses, and other items that management believes are not indicative of ongoing operating performance. Adjusted Operating Expenses are presented solely as an input to the calculation of Cost Per Pound and are not intended to be a standalone performance measure.

Operating Leverage Per Pound (“Operating Leverage”)

Operating Leverage Per Pound represents Revenue Per Pound less Cost Per Pound. Management uses this metric as a supplemental indicator of unit-level profitability trends. The metric helps management assess operational efficiency by evaluating how effectively resources are used relative to volume handled. Operating Leverage is not a measure of profitability calculated in accordance with U.S. GAAP. The most directly comparable U.S. GAAP measure is operating income on an aggregate basis.

Investments in Capital Assets

Investments in Capital Assets represent cash investments in property and equipment from the investing activities section of the Company’s Condensed Consolidated Statements of Cash Flows combined with new finance leases entered into by the Company during the same time period. Vestis believes that Investments in Capital Assets and its components are useful to investors because they are indicators of Vestis’ total in-period investments in fixed assets to support its business.

Forward Looking Non-GAAP Information

This release includes certain non-GAAP financial measures that are forward-looking in nature, including our expected outlook for fiscal 2026 Adjusted EBITDA and Free Cash Flow. The most directly comparable

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forward-looking U.S. GAAP measures are net income and net cash provided by operating activities, respectively.

Vestis believes that a quantitative reconciliation of these forward-looking non-GAAP measures to the most directly comparable U.S. GAAP measures cannot be provided without unreasonable efforts. Such reconciliation would require assumptions regarding the timing and likelihood of future events, including acquisitions and divestitures, restructurings, asset impairments, and other items that are difficult to predict and are outside of Vestis’ control.

Accordingly, the most directly comparable forward-looking U.S. GAAP measures are not provided. Actual results may differ materially from these forward-looking non-GAAP measures.

Operational Metrics and Definitions

In addition to the non-GAAP financial measures described above, Vestis uses certain operational metrics to evaluate business performance, monitor trends, and support internal decision-making. These operational metrics are derived using a combination of U.S. GAAP financial information and operational data and are not themselves measures defined under U.S. GAAP. Accordingly, these metrics should be considered supplemental to, and not a substitute for, financial measures prepared in accordance with U.S. GAAP.

Management believes these operational metrics provide useful context for understanding changes in Vestis’ operating performance, pricing discipline, and cost efficiency. However, these metrics may not be comparable to similarly titled measures used by other companies, as definitions and calculation methodologies may differ.

Revenue Per Pound

Revenue Per Pound represents consolidated total revenue as reported in accordance with U.S. GAAP divided by total pounds of laundry processed for the period. Revenue Per Pound uses U.S. GAAP revenue and does not reflect any adjustments. Management believes this metric provides useful insight into pricing and product mix relative to processing volume.

Pounds Processed

Pounds of laundry processed represents an operational measure derived from internal systems and management estimates and may involve judgment in its determination. Management believes the methodology used is reasonable and applied consistently from period to period.

Plant Productivity

Plant Productivity is an operational metric that measures changes in labor efficiency within the Company’s processing facilities. Plant Productivity is calculated based on the year-over-year change in labor hours at a constant wage rate, adjusted for the impact of product mix changes. Management uses Plant Productivity to evaluate labor efficiency, operational performance and throughput trends across the Company’s plant network.

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VESTIS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(Unaudited)

(In thousands, except per share amounts)

Three Months Ended Nine Months Ended

July 3,

2026 June 27,

2025 July 3,

2026 June 27,

2025

Revenue $ 661,663  $ 673,799  $ 1,984,488  $ 2,022,828

Operating Expenses:

Cost of services provided (exclusive of depreciation and amortization) 476,269  491,681  1,454,238  1,476,932

Depreciation and amortization 33,272  34,856  102,181  107,674

Selling, general and administrative expenses 114,874  122,301  347,464  391,432

Total Operating Expenses 624,415  648,838  1,903,883  1,976,038

Operating Income (Loss)

37,248  24,961  80,605  46,790

Loss (Gain) on Sale of Equity Investment —  —  —  2,150

Interest Expense, net 20,118  22,495  63,374  67,921

Other Expense (Income), net 2,786  3,215  8,935  10,120

Income (Loss) Before Income Taxes

14,344  (749) 8,296  (33,401)

Provision (Benefit) for Income Taxes

3,298  (73) 1,045  (5,727)

Net Income (Loss)

$ 11,046  $ (676) $ 7,251  $ (27,674)

Weighted Average Shares Outstanding:

Basic 132,106  131,812  132,007  131,719

Diluted 134,335  131,812  133,318  131,719

Earnings (Loss) per share:

Basic $ 0.08  $ (0.01) $ 0.05  $ (0.21)

Diluted $ 0.08  $ (0.01) $ 0.05  $ (0.21)

Page 9

VESTIS CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands, except share and per share amounts)

July 3,

2026 October 3,

2025

ASSETS

Current Assets:

Cash and cash equivalents $ 57,659  $ 29,748

Receivables (net of allowances: $35,519 and $32,677, respectively) 142,952  162,295

Inventories, net 158,900  179,020

Rental merchandise in service, net 391,337  405,625

Other current assets 80,797  73,343

Total current assets 831,645  850,031

Property and Equipment, at cost:

Land, buildings and improvements 566,195  565,677

Equipment 1,150,362  1,172,877

1,716,557  1,738,554

Less - Accumulated depreciation (1,073,048) (1,075,092)

Total property and equipment, net 643,509  663,462

Goodwill 960,584  961,732

Other Intangible Assets, net 168,456  188,837

Operating Lease Right-of-use Assets 81,467  85,108

Other Assets 144,837  157,730

Total Assets $ 2,830,498  $ 2,906,900

LIABILITIES AND EQUITY

Current Liabilities:

Current maturities of financing lease obligations $ 35,498  $ 35,234

Current operating lease liabilities 20,790  20,189

Accounts payable 128,771  158,362

Accrued payroll and related expenses 96,501  93,897

Accrued expenses and other current liabilities 102,409  101,282

Total current liabilities 383,969  408,964

Long-Term Borrowings 1,086,134  1,155,143

Noncurrent Financing Lease Obligations 124,225  131,071

Noncurrent Operating Lease Liabilities 72,194  77,032

Deferred Income Taxes 184,757  177,337

Other Noncurrent Liabilities 101,548  91,709

Total Liabilities 1,952,827  2,041,256

Commitments and Contingencies

Equity:

Common stock, par value $0.01 per share, 350,000,000 authorized, 132,156,745 and 131,859,470 issued and outstanding as of July 3, 2026 and October 3, 2025, respectively. 1,322  1,319

Additional paid-in capital 945,927  937,531

(Accumulated deficit) retained earnings (39,628) (46,879)

Accumulated other comprehensive loss (29,950) (26,327)

Total Equity 877,671  865,644

Total Liabilities and Equity $ 2,830,498  $ 2,906,900

Page 10

VESTIS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In thousands)

Three months ended Nine months ended

July 3,

2026 June 27,

2025 July 3,

2026 June 27,

2025

Cash flows from operating activities:

Net Income (Loss)

$ 11,046  $ (676) $ 7,251  $ (27,674)

Adjustments to reconcile Net Income (Loss) to Net cash provided by operating activities:

Depreciation and amortization 33,272  34,856  102,181  107,674

Deferred income taxes 2,365  (8,876) 7,828  (16,002)

Share-based compensation expense 3,287  (2,148) 9,004  11,009

Non-cash lease expense 5,226  4,751  15,529  14,077

Loss on sale of equity investment, net —  —  —  2,150

Asset write-down 735  —  1,195  189

(Gain) Loss on disposals of property and equipment (644) 246  (3,955) (726)

Amortization of debt issuance costs 966  891  2,859  2,662

Changes in operating assets and liabilities:

Receivables, net 6,065  (11,879) 18,824  1,063

Inventories, net 15,888  13,091  19,953  (21,487)

Rental merchandise in service, net (120) (4,378) 13,692  (4,708)

Other current assets 3,486  (1,911) (7,118) (13,940)

Accounts payable (22,445) 3,664  (26,974) (1,494)

Accrued expenses and other current liabilities 5,667  163  3,994  (1,261)

Changes in lease liabilities (5,893) (5,047) (15,280) (14,479)

Changes in other noncurrent liabilities 3,870  193  9,725  (1,521)

Changes in other assets 2,273  (1,603) 4,853  (1,758)

Other operating activities (109) 1,527  (2,688) (472)

Net cash provided by operating activities 64,935  22,864  160,873  33,302

Cash flows from investing activities:

Purchases of property and equipment and other (17,955) (14,860) (40,031) (43,102)

Proceeds from disposals of property and equipment 272  167  7,085  5,365

Proceeds from sale of equity investment —  —  —  36,792

Other investing activities (510) (29) (510) (4,576)

Net cash used in investing activities (18,193) (14,722) (33,456) (5,521)

Cash flows from financing activities:

Proceeds from long-term borrowings 22,000  53,000  97,000  93,000

Payments of long-term borrowings (52,000) (55,000) (168,000) (85,000)

Payments of financing lease obligations (9,519) (8,808) (28,220) (25,630)

Dividend payments —  —  —  (13,822)

Debt issuance costs —  (1,628) —  (1,628)

Other financing activities (229) (242) (605) (2,037)

Net cash used in financing activities

(39,748) (12,678) (99,825) (35,117)

Effect of foreign exchange rates on cash and cash equivalents 325  (527) 319  69

Increase (decrease) in cash and cash equivalents

7,319  (5,063) 27,911  (7,267)

Cash and cash equivalents, beginning of period 50,340  28,806  29,748  31,010

Cash and cash equivalents, end of period $ 57,659  $ 23,743  $ 57,659  $ 23,743

Page 11

VESTIS CORPORATION

RECONCILIATION OF NON-GAAP MEASURES

(In thousands)

Consolidated Consolidated Consolidated Consolidated

Three Months Ended Nine months ended

Trailing Twelve Months Ended

Three Months Ended

July 3, June 27, July 3, June 27, July 3, October 3, October 3,

2026 2025 2026 2025 2026 2025 2025

Net Income (Loss) $ 11,046  $ (676) $ 7,251  $ (27,674) $ (5,298) $ (40,223) $ (12,549)

Adjustments:

Depreciation and Amortization 33,272  34,856  102,181  107,674  137,524  143,017  35,343

Provision (Benefit) for Income Taxes 3,298  (73) 1,045  (5,727) 2,689  (4,083) 1,644

Interest Expense 20,118  22,495  63,374  67,921  87,717  92,264  24,343

Share-Based Compensation 3,287  (2,148) 9,004  11,009  9,560  11,565  556

Severance (1)

1,577  376  8,029  12,327  14,338  18,636  6,309

Transformation Costs (1)

6,143  —  23,226  —  23,226  —  —

Separation Related Charges (2)

—  1,986  1,751  10,270  5,060  13,579  3,309

Securitization Fees 2,785  3,230  8,668  10,060  12,163  13,555  3,495

(Gain) loss on disposals of property and equipment —  246  (3,311) (726) (3,075) (490) 236

Loss (Gain) on Sale of Equity Investment —  —  —  2,150  759  2,909  759

Third Party Debt Amendment Fees —  1,311  —  1,530  —  1,530  —

Legal Reserves and Settlements, net of insurance proceeds (661) 1,182  4,432  3,200  3,764  2,532  (668)

Gains, Losses and Other(3)

(14) 1,222  131  755  2,010  2,634  1,879

Adjusted EBITDA (Non-GAAP) $ 80,851  $ 64,007  $ 225,781  $ 192,769  $ 290,437  $ 257,425  $ 64,656

Covenant Related Adjustments(4)

—  1,800  —  16,800  3,600  20,400  3,600

Covenant Adjusted EBITDA (Non-GAAP) $ 80,851  $ 65,807  $ 225,781  $ 209,569  $ 294,037  $ 277,825  $ 68,256

Revenue $ 661,663  $ 673,799  $ 1,984,488  $ 2,022,828  $ 2,696,499  $ 2,734,839  $ 712,011

Net Income (Loss) as a percentage of sales 1.7  % (0.1) % 0.4  % (1.4) % (0.2) % (1.5) % (1.8) %

Adjusted EBITDA Margin (Non-GAAP) 12.2  % 9.5  % 11.4  % 9.5  % 10.8  % 9.4  % 9.1  %

Covenant Adjusted EBITDA Margin (Non-GAAP) 12.2  % 9.8  % 11.4  % 10.4  % 10.9  % 10.2  % 9.6  %

(1) Please refer to Note 2. Transformation, Restructuring and Severance, in the Company’s Form 10-Q for the quarter ended July 3, 2026.

(2) Separation Related Charges include third-party expenses incurred in connection with the Company’s separation from Aramark on September 30, 2023, and the establishment of stand-alone public company operations. These costs primarily consist of rebranding initiatives, development of stand-alone technology infrastructure, and professional services.

(3) Other includes certain costs or income items that are not individually material and do not relate to core business activities.

(4) Includes a $15 million bad debt expense adjustment to EBITDA in the fiscal quarter ended March 28, 2025, an adjustment of $1.8 million for the quarter ended June 27, 2025 related to a write-off of merchandise-in-service and a $3.6 million environmental reserve adjustment for the quarter ended October 3, 2025. These adjustments are solely for the purpose of determining compliance with the financial covenants in the Company’s credit agreement.

Page 12

VESTIS CORPORATION

RECONCILIATION OF NON-GAAP MEASURES

(In thousands, except per share amounts)

Consolidated Consolidated

Three Months Ended Nine months ended

July 3, June 27, July 3, June 27,

2026 2025 2026 2025

Net Income (Loss) $ 11,046  $ (676) $ 7,251  $ (27,674)

Adjustments:

Amortization Expense 6,693  6,674  20,079  20,007

Share-Based Compensation 3,287  (2,148) 9,004  11,009

Severance 1,577  376  8,029  12,327

Transformation Costs 6,143  —  23,226  —

(Gain) loss on disposals of property and equipment —  246  (3,311) (726)

Separation Related Charges —  1,986  1,751  10,270

Third Party Debt Amendment Fees —  1,311  —  1,530

Legal Reserves and Settlements, net of insurance proceeds (661) 1,182  4,432  3,200

Loss on Sale of Equity Investment —  —  —  2,150

Gains, Losses and Other (1)

(17) 1,227  (155) 755

Tax Impact of Reconciling Items Above (2)

(3,914) (1,058) (11,209) (16,568)

Adjusted Net Income (Loss) (Non-GAAP) $ 24,154  $ 9,120  $ 59,097  $ 16,280

Basic weighted-average shares outstanding 132,106  131,812  132,007  131,719

Diluted weighted-average shares outstanding 134,335  132,221  133,318  132,227

Basic (Loss) Earnings Per Share $ 0.08  $ (0.01) $ 0.05  $ (0.21)

Diluted (Loss) Earnings Per Share $ 0.08  $ (0.01) $ 0.05  $ (0.21)

Adjusted Basic (Loss) Earnings Per Share $ 0.18  $ 0.07  $ 0.45  $ 0.12

Adjusted Diluted (Loss) Earnings Per Share $ 0.18  $ 0.07  $ 0.44  $ 0.12

(1) Other includes certain costs or income items that are not individually material and do not relate to core business activities

(2) Beginning in the second quarter of fiscal 2026, the Company calculated the tax effect of non-GAAP adjustments using the effective tax rate applicable to each respective quarterly period in which the adjustments are recognized. Year-to-date adjusted net income reflects the aggregation of each quarter’s after-tax adjustments, which management believes is consistent with the presentation of year-to-date GAAP results. Prior period amounts were adjusted to conform to the current period presentation.

Page 13

VESTIS CORPORATION

RECONCILIATION OF NON-GAAP MEASURES AND SELECTED SUPPLEMENTARY DATA

FREE CASH FLOW, NET DEBT, NET LEVERAGE RATIO, ADJUSTED OPERATING EXPENSES

(In thousands)

Three months ended Nine Months Ended

July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025

Net cash provided by operating activities $ 64,935  $ 22,864  $ 160,873  $ 33,302

Purchases of property and equipment and other (17,955) (14,860) (40,031) (43,102)

Free Cash Flow (Non-GAAP) 46,980  8,004  120,842  (9,800)

Cash paid for Transformation Costs 7,226  —  23,427  —

Cash paid for severance 1,341  —  10,829  —

Adjusted Free Cash Flow (Non-GAAP) $ 55,547  $ 8,004  $ 155,098  $ (9,800)

As of

July 3, 2026 April 3, 2026 January 2, 2026 October 3, 2025

Total principal debt outstanding $ 1,097,500  $ 1,127,500  $ 1,161,500  $ 1,168,500

Letters of credit outstanding 5,818  5,818  5,818  5,818

Finance lease obligations 159,723  164,717  162,738  166,305

Less: Cash and cash equivalents (57,659) (50,340) (41,547) (29,748)

Net Debt (Non-GAAP) $ 1,205,382  $ 1,247,695  $ 1,288,509  $ 1,310,875

Trailing Twelve Months Adjusted EBITDA (Non-GAAP) $ 290,437  $ 273,592  $ 246,606  $ 257,425

Covenant Related Adjustments (1)

3,600  5,400  20,400  20,400

Trailing Twelve Months Covenant Adjusted EBITDA (Non-GAAP) $ 294,037  $ 278,992  $ 267,006  $ 277,825

Net Leverage Ratio (Non-GAAP) (1)

4.10  4.47  4.83  4.72

(1) Includes a $15 million bad debt expense adjustment to EBITDA in the fiscal quarter ended March 28, 2025, an adjustment of $1.8 million for the quarter ended June 27, 2025 related to a write-off of merchandise-in-service and a $3.6 million environmental reserve adjustment for the quarter ended October 3, 2025. These adjustments are solely for the purposes of determining compliance with the financial covenants in the Company’s credit agreement.

Three months ended Nine Months Ended

July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025

Operating Expenses $ 624,415  $ 648,838  $ 1,903,883  $ 1,976,038

Depreciation and Amortization (33,272) (34,856) (102,181) (107,674)

Covenant-related adjustments —  (1,800) —  (16,800)

Share-Based Compensation (3,287) 2,148  (9,004) (11,009)

Severance (1,577) (376) (8,029) (12,327)

Transformation Costs (6,143) —  (23,226) —

(Gain) loss on disposals of property and equipment —  (246) 3,311  726

Separation Related Charges —  (1,986) (1,751) (10,270)

Legal Reserves and Settlements, net of insurance proceeds 661  (1,182) (4,432) (3,200)

Third Party Debt —  (1,311) —  (1,530)

Other Gain and Losses 14  (1,237) 136  (695)

Adjusted Operating Expenses (Non-GAAP) $ 580,811  $ 607,992  $ 1,758,707  $ 1,813,259

Revenue $ 661,663  $ 673,799  $ 1,984,488  $ 2,022,828

As of

July 3, 2026

Excess availability on revolving credit facility (1) $ 294,182

Cash on Hand 57,659

Total Liquidity $ 351,841

(1) Excess availability on the revolving credit facility represents total availability of $300 million less any borrowings on the revolving credit facility, less letters of credit outstanding ($5.8 million as of July 3, 2026).

Page 14

VESTIS CORPORATION

INVESTMENTS IN CAPITAL ASSETS

(In thousands)

Fiscal 2026 Fiscal 2025

Q1 Q2 Q3 Year-to-date Q1 Q2 Q3 Year-to-date

Investments in property and equipment $ 9,386  $ 12,690  $ 17,955  $ 40,031  $ 14,732  $ 13,510  $ 14,860  $ 43,102

New Finance Leases 5,391  11,991  $ 5,050  22,432  12,932  9,808  $ 9,158  31,898

Investments in Capital Assets $ 14,777  $ 24,681  $ 23,005  $ 62,463  $ 27,664  $ 23,318  $ 24,018  $ 75,000

Page 15

EX-99.2

EX-99.2

Filename: ex992vestis3q26earningsd.htm · Sequence: 3

ex992vestis3q26earningsd

Third Quarter 2026 Results August 11th, 2026

Non-GAAP Financial Measures Vestis reports its financial results in accordance with U.S. GAAP, but in this presentation and the non-GAAP reconciliations that follow, Vestis also uses the following non-GAAP measures: Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income (Loss), Adjusted Basic Earnings Per Share (“EPS”), Adjusted Diluted EPS, Free Cash Flow, Adjusted Free Cash Flow, Operating Working Capital, Net Debt, Net Leverage Ratio, Covenant Adjusted EBITDA, Covenant Adjusted EBITDA Margin, Trailing Twelve Months Covenant Adjusted EBITDA, Return on Working Capital, Adjusted Operating Expenses, Cost Per Pound, Operating Leverage and Investments in Capital Assets. Vestis believes that non-GAAP financial measures, when considered together with the corresponding U.S. GAAP financial measure, provide useful supplemental information to investors. Certain adjustment-based measures exclude items that management believes may not be indicative of or are unrelated to Vestis’ core operating results. Vestis uses these non-GAAP financial measures with U.S. GAAP financial measures and other operating data to assist in the evaluation of its operating performance. Vestis believes that presentation of these measures also helps investors because the measures enable better comparisons of Vestis’ historical results and allow investors to evaluate Vestis’ performance based on the same metrics that Vestis uses to evaluate its performance and trends in its results. However, these measures have limitations as analytical tools and should not be considered in isolation or as a substitute for Vestis’ results as reported under U.S. GAAP. Specifically, you should not consider these measures as alternatives to revenue, operating income, operating expenses, operating income margin, net income (loss), net income margin or net cash provided by operating activities determined in accordance with U.S. GAAP. These non-GAAP financial measures also should not be considered as measures of cash available to Vestis to invest in the growth of Vestis’ business or cash that will be available to Vestis to meet its obligations. Non-GAAP financial measures as presented by Vestis may not be comparable to other similarly titled measures of other companies because not all companies use identical calculations. Reconciliations of non-GAAP financial measures to the most directly comparable U.S.GAAP measures are provided in the tables at the end of this presentation. Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the securities laws. All statements that reflect our expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, forecasts relating to discussions of future operations and financial performance and statements regarding our strategy for growth, future product development, regulatory approvals, competitive position and expenditures. In some cases, forward-looking statements can be identified by words such as “potential,” “outlook,” “guidance,” “anticipate,” “continue,” “estimate,” “expect,” “will,” and “believe,” and other words and terms of similar meaning or the negative versions of such words. Examples of forward-looking statements in this release include, but are not limited to, statements regarding: the potential effects of our comprehensive actions to enhance both our commercial and operational processes, and our expectations regarding our updated fiscal year 2026 performance outlook. These forward-looking statements are subject to risks and uncertainties that may change at any time, and actual results or outcomes may differ materially from those that we expected. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict including, but not limited to: unfavorable macroeconomic conditions and geopolitical instability, including as a result of the military conflict among the United States, Israel, and Iran, government shutdowns, inflationary pressures and higher interest rates; the failure to retain current customers, renew existing customer contracts and obtain new customer contracts, which could result in continued stock volatility and potential future goodwill impairment charges; competition in our industry; our ability to comply with certain financial ratios, tests and covenants in our credit agreement, including the Net Leverage Ratio; our significant indebtedness and ability to meet debt obligations and our reliance on an accounts receivable securitization facility; our ability to successfully execute or achieve the expected benefits of our business transformation and restructuring plan and other measures we may take in the future; increases in fuel and energy costs and other supply chain challenges and disruptions, including as a result of disruptions in international shipping through the Strait of Hormuz and the military conflicts in the Middle East and Ukraine; implementation of new or increased tariffs and ongoing changes in U.S. and foreign government trade policies, including potential modifications to existing trade agreements and retaliatory measures by foreign governments; increased operating costs and obstacles to cost recovery due to the pricing and cancellation terms of our support services contracts; a determination by our customers to reduce their outsourcing or use of preferred vendors; the outcome of legal proceedings to which we are or may become subject, including securities litigation claims that could result in significant legal expenses and settlement and damage awards; risks associated with suppliers from whom our products are sourced; challenge of contracts by our customers; currency risks and other risks associated with international operations, including compliance with a broad range of laws and regulations, including the United States Foreign Corrupt Practices Act; increases in labor costs or inability to hire and retain key or sufficient qualified personnel; continued or further unionization of our workforce; our expansion strategy and our ability to successfully integrate the businesses we acquire and costs and timing related thereto; natural disasters, global calamities, climate change, civil or political unrest, terrorist attacks, pandemics or other public health crises, and other adverse incidents; liability resulting from our participation in multiemployer-defined benefit pension plans; liability associated with noncompliance with applicable law or other governmental regulations; laws and governmental regulations including those relating to the environment, wage and hour and government contracting; unanticipated changes in tax law; new interpretations of or changes in the enforcement of the government regulatory framework; a cybersecurity incident or other disruptions in the availability of our computer systems or privacy breaches; stakeholder expectations relating to environmental, social and governance (“ESG”) considerations which may expose us to liabilities and other adverse effects on our business; any failure by Aramark to perform its obligations under the various separation agreements entered into in connection with the separation; and a determination by the IRS that the distribution or certain related transactions are taxable. The above list of factors is not exhaustive or necessarily in order of importance. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see the Company’s filings with the Securities and Exchange Commission (“SEC”), including “Item 1A-Risk Factors” in the Company’s most recent Annual Report on Form 10-K and in “Item 1A-Risk Factors” of Part II in subsequently-filed Quarterly Reports on Form 10-Q, which are available on the SEC’s website at www.sec.gov. Any forward-looking statement speaks only as of the date on which it is made, and we assume no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law. This presentation and the remarks made during the associated conference call are integrally related and are intended to be presented and understood together. Notes to Investors ©2025 Vestis. All rights reserved. 2

Third Quarter 2026 Executive Summary ©2026 Vestis. All rights reserved. 3 ▶ Third quarter results reflect strong progress in Fiscal 2026 ▶ Revenue of $661.7 million on decreased total volume1 ▶ Adjusted EBITDA2 of $80.9 million ▶ Free Cash Flow2 of $47.0 million ▶ Adjusted Free Cash Flow2 of $55.5 million ▶ Adjusted EPS2 of $0.18 per diluted share ▶ Available Liquidity2 of $351.8 million ▶ Operating Leverage Per Pound1,2 improvement of $0.04 on improved Revenue Per Pound1,2 ▶ Meaningful progress advancing our operational excellence priorities ▶ 9% improvement in Plant Productivity2 ▶ 80 bps improvement in on-time deliveries ▶ 74 bps reduction in customer complaints ▶ Commercially focused on improving revenue quality ▶ Advanced strategic pricing execution through improved commercial practices driving year-over-year improvement in Revenue Per Pound1,2 ▶ Driving a more favorable product sales mix ▶ Year-over-year revenue growth in Canadian segment ▶ Updating Fiscal Year 2026 Outlook ▶ Revenue flat to down 2% versus FY 2025 revenue on a 52-week basis ▶ Adjusted EBITDA2 in the range of $310.0 million to $315.0 million with a midpoint of $312.5 million; Fourth quarter Adjusted EBITDA2 implied to be in the range of $84.0 million to $89.0 million ▶ Free Cash Flow2 in the range of $160.0 million to $170.0 million 1) When measured as pounds processed by our facilities compared to the third fiscal quarter of 2025 2) See Appendix for non-GAAP financial measure reconciliations and information regarding operational metrics definitions and calculations

3Q 2026 Financial Summary ©2026 Vestis. All rights reserved. 4 Revenue $s in Millions Covenant-Adjusted EBITDA2 / Adjusted EBITDA2 $s in Millions & % of Revenue 1) When measured as pounds processed by our facilities 2) See Appendix for non-GAAP financial measure reconciliations and information regarding operational metrics definitions and calculations Adjusted Free Cash Flow2 $s in Millions Revenue of $661.7 million o A decrease of $12.1 million year over year or 1.8% o Revenue decline neutral to the impacts of foreign exchange on currency o Total volume1 decreased 4.5% o Revenue Per Pound2 increased compared to prior year and F2Q26 Adjusted EBITDA2 of $80.9 million, or 12.2% of revenue o Increase of $15.0 million year over year or 23% when compared to Covenant-Adjusted EBITDA2 of $65.8 million in F3Q25 o Improvements in Adjusted Operating Expenses2 resulting from strategic business transformation o Increased sequentially compared to the second quarter of fiscal 2026, when Adjusted EBITDA2 was $74.5 million, or 11.3% of revenue Free Cash Flow 2 of $47.0 million and Adjusted Free Cash Flow2 of $55.5 million o Free Cash Flow2 improvement of $39.0 million year over year o Neutral of working capital contributions o Includes benefit of $4 million from lower merchandise in service o Adjusted Free Cash Flow2 excludes $8.6 million of transformation- related cash expenditures o Total available liquidity of $351.8 million including $57.7 million of cash and cash equivalents on hand as of July 3, 2026 Adjusted Diluted EPS2 of $0.18 per share Adjusted Diluted EPS2 $s in Dollars F3Q25 F3Q26 F3Q25 F3Q26 F3Q25 F3Q26 F3Q25 F3Q26 $674 $662 $66 $81 9.8% 12.2% $8 $56 $0.07 $0.18

3Q 2026 Financial Reconciliations Lower volume of 4.5% in pounds processed driven by intentional shedding of low-profit volume, including linen 3Q Revenue Reconciliation $s in Millions 3Q Covenant Adjusted EBITDA1,2 / Adjusted EBITDA1 Reconciliation $s in Millions Improved Revenue Per Pound1 of $0.04 cents or 2.9% compared to F3Q25; Price benefit net of lower one-time loss and ruin of $10 million year-over-year Year-over-year revenue decline of $12.1 million or 1.8% Decline in revenue of $12.1 million offset by $27.2 million improvement in Adjusted Operating Expenses1 Lower cost of service of $15.4 million from improved merchandise and delivery costs Adjusted EBITDA1 Revenue 1) See Appendix for non-GAAP financial measure reconciliations and information regarding operational metrics definitions and calculations 2) F3Q25 Covenant Adjusted EBITDA of $65.8 million, which excluded a $1.8 million adjustment for the write-off of pre-spin merchandise in service inventory from Adjusted EBITDA for the quarter ©2026 Vestis. All rights reserved. 5 $661.7$673.8 $18.1 F3Q25 Covenant Adjusted EBITDA2 Revenue Decline Improvements in Adjusted Operating Expenses1 $80.9$65.8 $(12.1) $27.2 F3Q26 Adjusted EBITDA1 Decline of $12.1M or 1.8% Improvement of $15.0M or 23% Remaining cost savings of $11.8 million resulting from transformation actions benefitting SG&A, net of Adjusted EBITDA1 add-backs Mix impact of $(0.6) million on improving mix shift, included with price $(30.2) F3Q25 Revenue Price/Mix Volume F3Q26 Revenue

Vestis Confidential ©2025 Vestis. All rights reserved. 6 3Q 2026 Revenue Metrics Revenue $s in Millions F3Q25 F3Q26 $673.8 $661.7 Volume1 In Millions of Pounds 1) When measured as pounds processed by our facilities 2) See Appendix for non-GAAP financial measure reconciliations and information regarding operational metrics definitions and calculations (1.8)% F3Q25 F3Q26 489.2 467.3 (4.5)% Revenue Per Pound2 $s in Dollars F3Q25 F3Q26 $1.38 2.9%$1.42 Improving Linen Product Mix % of Pounds processed by our facilities First quarter of year-over-year Revenue Per Pound2 growth in public company history, up 2.9% from F3Q25 Revenue dollar product mix concentration consistent with fiscal second quarter 2026 (Uniforms 37% / Workplace supplies 63%) Change Year-over-year, linen volume1 decreased 6% in fiscal third quarter 2026, an improvement from 4% increase in second quarter ©2026 Vestis. All rights reserved. 6 F1Q25 vs. F1Q26 Up 7% F2Q25 vs. F2Q26 Up 4% F3Q25 vs. F3Q26 Down 6% Progress towards a more favorable product mix Revenue Per Pound2 has demonstrated consistent historical improvement over preceding quarters, accelerated by our strategic business transformation Improving Revenue Per Pound2 Comparisons Year-over-year comparison of Revenue Per Pound2 by fiscal quarter F3Q25 $ (0.06) F4Q25 $ (0.06) F1Q26 $ (0.04) F2Q26 Flat F3Q26 $0.04 Year over year comparisons improving from down six cents to up four

Vestis Confidential ©2025 Vestis. All rights reserved. 7 3Q 2026 Cost and Operating Leverage Metrics Adjusted Operating Expenses2 $s in Millions F3Q25 F3Q26 $608.0 $580.8 Volume1 In Millions of Pounds 1) When measured as pounds processed by our facilities 2) See Appendix for non-GAAP financial measure reconciliations and information regarding operational metrics definitions and calculations (4.5)% F3Q25 F3Q26 489.2 467.3 Cost Per Pound2 $s in Dollars F3Q25 F3Q26 $1.24 Flat$1.24 Operating Leverage2 $s in Dollars Revenue Per Pound2 Cost Per Pound2 Operating Leverage2 Less$1.38 $0.14 Operating Leverage2 increase of $0.04 per pound year-over- year on improvement in Revenue Per Pound2, returning to F3Q24 levels Adjusted Operating Expenses2 declined $27.2M or 4.5% on cost of service and SG&A improvements from our strategic business transformation; Cost Per Pound2 flat vs. prior year Change F3Q25 $1.24 Equals Revenue Per Pound2 Cost Per Pound2 Operating Leverage2 Less$1.42 $0.18F3Q26 Equals$1.24 Sequentially, Operating Leverage2 increase of $0.03 per pound on increased improvement in Revenue Per Pound2 ©2026 Vestis. All rights reserved. 7 (4.5)%

3Q 2026 Operating Working Capital and Free Cash Flow ©2026 Vestis. All rights reserved. 8 Operating Working Capital1,2 $s in Millions Cash & Excess Availability3 $s in Millions Free Cash Flow 1 $s in Millions 1) See Appendix for non-GAAP financial measure reconciliations and information regarding operational metrics definitions and calculations 2) Operating working capital includes accounts receivable, inventory, and accounts payable; See Appendix for calculation 3) Excess availability is defined as undrawn revolver capacity less letters of credit issued in accordance with the Company’s Credit Agreement Free Cash Flow1 of $47.0 million for F3Q26, including $18.0 million in capital expenditures, an improvement of $39.0 million year over year $268$266$264 $295$295 Free Cash Flow1 includes $8.6 million of business transformation cash, excluding which Adjusted Free Cash Flow 1 of $55.5 million reflecting strong cash flow generative capabilities of our business Total available liquidity of $351.8 million including $57.7 million cash and cash equivalents on hand as of July 3, 2026 0.0% 50.0% 100.0% 150.0% 200.0% 0 50 100 150 200 250 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Operating Working Capital(1) Operating Working Capital Return on Working Capital $8 $15 $28 $46 $47 F3Q25 F4Q25 F1Q26 F2Q26 F3Q26 266.3 268.2 275.2 294.2 294.2 $24 $30 $42 $50 $58 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Excess Availability Cash on Hand Year to date Free Cash Flow1 of $120.8 million and Adjusted Free Cash Flow1 of $155.1 Million

(in Millions) FY 2025 Actual Low Mid High Revenue Growth (4.4)% (2.0)% (1.0)% Flat Adjusted EBITDA1 $272.62 $295.0 $310.0 $325.0 Free Cash Flow1 $5.9 $120.0 $135.0 $150.0 Updated Fiscal 2026 Outlook ©2026 Vestis. All rights reserved. 9 Previous – FY 2026 Outlook 1) See Appendix for non-GAAP financial measure reconciliations and information regarding operational metrics definitions and calculations 2) FY’ 2025 Actual Adjusted EBITDA’ referenced is FY 2025 reported covenant-adjusted EBITDA of $277.9 adjusted to exclude the additional operating week in the Company’s fiscal year 2025 3) Ranges are approximate (in Millions) FY 2025 Actual Low Mid High Revenue Growth (4.4)% (2.0)% (1.0)% Flat Adjusted EBITDA1 $272.62 $310.0 $312.5 $315.0 Free Cash Flow1 $5.9 $160.0 $165.0 $170.0 Current – FY 2026 Outlook Current Outlook Updates Include Free Cash Flow1 expected to be impacted by: o Between3 $60 million and $70 million of annual cash capital expenditures o $40 million in fiscal 2026 through F3Q26 with remaining expected in F4Q26 o Between3 $35 million and $40 million in cash paid for transformation expenses, including severance o $34.3 million in fiscal 2026 through F3Q26 with remaining expected in F4Q26 Revenue outlook is compared to normalized fiscal 2025 revenue of $2.683 billion, excluding the impact of the additional operating week Fiscal fourth quarter 2026 Adjusted EBITDA1 implied to be in the range of $84.0 million to $89.0 million based on full year outlook and results year-to-date

3Q 2026 Strategic Business Transformation Plan Update Commercial ExcellenceOperational Excellence Asset & Network Optimization Improve Operating Leverage Stabilize & Grow Revenue Align Footprint For Growth Advanced strategic pricing execution through improved commercial practices and the deployment of robust decision-support processes Improvements in pricing when compared to F3Q25 combined with sequentially improved product mix from lower linen volume Commercial excellence initiatives contributed to increased Revenue Per Pound1 of $0.04 when compared to F3Q25 - a first in Vestis public company history! Continued improvements in on-time delivery (80bps), Plant Productivity1 (9%), and customer complaints declining (74 bps) versus F3Q25 Improved merchandise, plant and delivery expenses driving lower cost of services Efforts resulted in a $0.04 improvement in Operating Leverage1 when compared to F3Q25 - second consecutive quarter of improvement in Operating Leverage1 year-over-year Annualized cost savings of at least $75 million expected by end of FY 2026 Assessing our network positioning across key markets, leveraging meaningful capacity to identify optimization and growth opportunities Positioning the business to capitalize on evolving competitive dynamics within the market landscape to deliver superior service to new and existing customers alike ©2026 Vestis. All rights reserved. 10 1) See Appendix for non-GAAP financial measure reconciliations and information regarding operational metrics definitions and calculations Advanced market segmentation evaluation and route optimization projects to drive network maturity

Q&A

Appendix

Non-GAAP Financial Measures ©2026 Vestis. All rights reserved. 13 Vestis reports its financial results in accordance with U.S. GAAP, but in this presentation and the non-GAAP reconciliations that follow, Vestis also uses the following non-GAAP measures: Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income (Loss), Adjusted Basic Earnings Per Share (“EPS”), Adjusted Diluted EPS, Free Cash Flow, Adjusted Free Cash Flow, Operating Working Capital, Net Debt, Net Leverage Ratio, Covenant Adjusted EBITDA, Covenant Adjusted EBITDA Margin, Trailing Twelve Months Covenant Adjusted EBITDA, Return on Working Capital, Adjusted Operating Expenses, Cost Per Pound, Operating Leverage Per Pound and Investments in Capital Assets. Vestis believes that non-GAAP financial measures, when considered together with the corresponding U.S. GAAP financial measure, provide useful supplemental information to investors. Certain adjustment-based measures exclude items that management believes may not be indicative of or are unrelated to Vestis’ core operating results. Vestis uses these non-GAAP financial measures with U.S. GAAP financial measures and other operating data to assist in the evaluation of its operating performance. Vestis believes that presentation of these measures also helps investors because the measures enable better comparisons of Vestis’ historical results and allow investors to evaluate Vestis’ performance based on the same metrics that Vestis uses to evaluate its performance and trends in its results. However , these measures have limitations as analytical tools and should not be considered in isolation or as a substitute for Vestis’ results as reported under U.S. GAAP. Specifically, you should not consider these measures as alternatives to revenue, operating income, operating expenses, operating income margin, net income (loss), net income margin or net cash provided by operating activities determined in accordance with U.S. GAAP. These non-GAAP financial measures also should not be considered as measures of cash available to Vestis to invest in the growth of Vestis’ business or cash that will be available to Vestis to meet its obligations. Non-GAAP financial measures as presented by Vestis may not be comparable to other similarly titled measures of other companies because not all companies use identical calculations. Reconciliations of non-GAAP financial measures to the most directly comparable U.S.GAAP measures are provided in the tables at the end of this presentation. Adjusted EBITDA and Adjusted EBITDA Margin Adjusted EBITDA represents net income adjusted for provision for income taxes; interest expense, net; and depreciation and amortization (EBITDA), further adjusted for share-based compensation expense; severance; business transformation costs; separation related charges; securitization fees; loss (gain) on sale of equity investments; third party debt amendment fees; legal reserves and settlements; gains, losses, and other items impacting comparability. Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by revenue. Adjusted EBITDA and Adjusted EBITDA Margin are presented to provide a more meaningful comparison of Vestis’ operating performance by excluding items that management believes are not reflective of ongoing operations or that may obscure trends in the underlying business. Similar adjustments have been recorded in Adjusted EBITDA for earlier periods, and Vestis may record similar types of adjustments in future periods. Adjusted Net Income (Loss), Adjusted Basic EPS and Adjusted Diluted EPS Adjusted Net Income (Loss) represents net income (loss) adjusted to exclude items not considered indicative of Vestis’ core ongoing operations, including amortization expense, share-based compensation, severance charges, business transformation costs, separation-related charges, loss (gain) on sale of equity investments; third party debt amendment fees; legal reserves and settlements; gains, losses, and other items impacting comparability. Management believes this measure provides useful supplemental information by facilitating period-over-period comparisons of performance on a consistent basis. Adjusted Basic EPS and Adjusted Diluted EPS represent Adjusted Net Income (Loss) divided by the weighted-average number of basic and diluted shares outstanding, respectively.

©2026 Vestis. All rights reserved. 14 Non-GAAP Financial Measures, continued Free Cash Flow and Adjusted Free Cash Flow Free Cash Flow represents net cash provided by operating activities adjusted for purchases of property and equipment and other items. Free Cash Flow is presented because it reflects the cash generated from operations after capital expenditures necessary to maintain and improve operations. Free cash flow does not represent the residual cash flow available for discretionary expenditures, as there may be other nondiscretionary cash requirements not reflected in this measure. Adjusted Free Cash Flow represents Free Cash Flow adjusted for cash paid for strategic business transformation initiatives, including severance paid during the transformation period and third-party advisory fees. Net Leverage Ratio, Net Debt, Covenant Adjusted EBITDA, Trailing Twelve Months Covenant Adjusted EBITDA and Covenant Adjusted EBITDA Margin Net Leverage Ratio is defined in Vestis’ credit agreement and is calculated as consolidated total indebtedness in excess of unrestricted cash (referred to herein as “Net Debt”), divided by the Trailing Twelve Months Covenant Adjusted EBITDA. Net Debt represents total principal debt outstanding, letters of credit outstanding, and finance lease obligations, less cash and cash equivalents. Covenant Adjusted EBITDA represents Adjusted EBITDA, as further modified by certain items specifically permitted under the credit agreement to assess compliance with its financial covenants. Trailing Twelve Months Covenant Adjusted EBITDA represents Covenant Adjusted EBITDA for the preceding four fiscal quarters. Covenant Adjusted EBITDA Margin is defined as Covenant Adjusted EBITDA divided by revenue. Vestis believes that Net Leverage Ratio and its components are useful to investors because they are indicators of Vestis’ ability to meet its future financial obligations and are measures that are frequently used by investors and creditors. Operating Working Capital Operating working capital is calculated by adding accounts receivable and inventory, and subtracting accounts payable. Return on Working Capital Return on Working Capital is calculated by dividing trailing twelve months Adjusted EBITDA by Operating Working Capital. Cost Per Pound Cost Per Pound represents the cost incurred to process laundry on a per-unit basis and is calculated as Adjusted Operating Expenses, as defined below, divided by the total pounds of laundry processed during the period. Management uses Cost Per Pound to assess operating efficiency by evaluating how effectively resources are utilized relative to processing volume. Adjusted Operating Expenses Adjusted Operating Expenses represent operating expenses as reported under U.S. GAAP, adjusted to exclude depreciation and amortization, covenant adjusted bad debt expense, share-based compensation expense, severance, business transformation costs, loss (gain) on sale of equity investments, separation-related charges, legal reserves and settlements, third-party debt amendment fees, and gains, losses, and other items that management believes are not indicative of ongoing operating performance. Adjusted Operating Expenses are presented solely as an input to the calculation of Cost Per Pound and are not intended to be a standalone performance measure.

©2026 Vestis. All rights reserved. 15 Non-GAAP Financial Measures, continued Operating Leverage Per Pound (“Operating Leverage”) Operating Leverage represents Revenue Per Pound less Cost Per Pound. Management uses this metric as a supplemental indicator of unit-level profitability trends. The metric helps management assess operational efficiency by evaluating how effectively resources are used relative to volume handled. Operating Leverage is not a measure of profitability calculated in accordance with U.S. GAAP. The most directly comparable U.S. GAAP measure is operating income on an aggregate basis. Investments in Capital Assets Investments in Capital Assets represents cash investments in property and equipment from the investing activities section of the Company’s Condensed Consolidated Statements of Cash Flows combined with new finance leases entered into by the Company during the same time period. Vestis believes that Investments in Capital Assets and its components are useful to investors because they are indicators of Vestis’ total in-period investments in fixed assets to support its business. Forward Looking Non-GAAP Information This presentation includes certain non-GAAP financial measures that are forward-looking in nature, including our expected outlook for fiscal 2026 Adjusted EBITDA and Free Cash Flow. The most directly comparable forward-looking U.S. GAAP measures are net income and net cash provided by operating activities, respectively. Vestis believes that a quantitative reconciliation of these forward- looking non-GAAP measures to the most directly comparable U.S. GAAP measures cannot be provided without unreasonable efforts. Such reconciliation would require assumptions regarding the timing and likelihood of future events, including acquisitions and divestitures, restructurings, asset impairments, and other items that are difficult to predict and are outside of Vestis’ control. Accordingly, the most directly comparable forward-looking U.S. GAAP measures are not provided. Actual results may differ materially from these forward-looking non-GAAP measures.

©2026 Vestis. All rights reserved. 16 Operational Metrics and Definitions In addition to the non-GAAP financial measures described above, Vestis uses certain operational metrics to evaluate business performance, monitor trends, and support internal decision-making. These operational metrics are derived using a combination of U.S. GAAP financial information and operational data and are not themselves measures defined under U.S. GAAP. Accordingly, these metrics should be considered supplemental to, and not a substitute for, financial measures prepared in accordance with U.S. GAAP. Management believes these operational metrics provide useful context for understanding changes in Vestis’ operating performance, pricing discipline, and cost efficiency. However, these metrics may not be comparable to similarly titled measures used by other companies, as definitions and calculation methodologies may differ. Business Retention We calculate retention by annualizing the average weekly revenue attributed to lost customers identification numbers for the trailing 52 weeks and dividing it by the recurring rental revenue for the same period. We calculate recurring rental revenue as base rental revenue for uniforms and workplace supplies, including service charges and the impacts of rebates and other discounts, plus recurring loss and ruin and auxiliary charges such as emblems and embroidery in addition to select consumables we determine to be recurring in nature. Our calculations are approximate and may in some cases rely on estimates which may differ from period to period. Revenue Per Pound Revenue Per Pound represents consolidated total revenue as reported in accordance with U.S. GAAP divided by total pounds of laundry processed for the period. Revenue Per Pound uses GAAP revenue and does not reflect any adjustments. Management believes this metric provides useful insight into pricing and product mix relative to processing volume. The most directly comparable GAAP measure is consolidated revenue. Pounds Processed Pounds of laundry processed represents an operational measure derived from internal systems and management estimates and may involve judgement in its determination. Management believes the methodology used is reasonable and applied consistently from period to period. Plant Productivity Plant Productivity is an operational metric that measures changes in labor efficiency within the Company’s processing facilities. Plant Productivity is calculated based on the year-over-year change in labor hours at a constant wage rate, adjusted for the impact of product mix changes. Management uses Plant Productivity to evaluate labor efficiency, operational performance and throughput trends across the Company’s plant network.

Non-GAAP Reconciliations / Adjusted EBITDA ©2026 Vestis. All rights reserved. 17 ($ in Thousands) 1) Please refer to Note 2. Transformation, Restructuring and Severance in the Company’s form 10-Q for the quarter ended July 3, 2026 2) Separation Related Charges include third-party expenses incurred in connection with the Company’s separation from Aramark on September 30, 2023, and the establishment of stand-alone public company operations. These costs primarily consist of rebranding initiatives, development of stand-alone technology infrastructure, and professional services. 3) Other includes certain costs or income items that are not individually material and do not relate to core business activities. 4) Includes a $15 million bad debt expense adjustment to EBITDA in the fiscal quarter ended March 28, 2025, an adjustment of $1.8 million for the quarter ended June 27, 2025 related to a write-off of merchandise-in service and a $3.6 million environmental reserve adjustment for the quarter ended October 3, 2025. These adjustments are solely for the purpose of determining compliance with the financial covenants in the Company’s credit agreement. Individual Fiscal Quarters Referenced Consolidated Three Months Ended July 3, June 27, July 3, June 27, July 3, October 3, October 3, 2026 2025 2026 2025 2026 2025 2025 Net Income (Loss) $ 11,046 $ (676) $ 7,251 $ (27,674) $ (5,298) $ (40,223) $ (12,549) Adjustments: Depreciation and Amortization 33,272 34,856 102,181 107,674 137,524 143,017 35,343 Provision (Benefit) for Income Taxes 3,298 (73) 1,045 (5,727) 2,689 (4,083) 1,644 Interest Expense 20,118 22,495 63,374 67,921 87,717 92,264 24,343 Share-Based Compensation 3,287 (2,148) 9,004 11,009 9,560 11,565 556 Severance (1) 1,577 376 8,029 12,327 14,338 18,636 6,309 Transformation Costs (1) 6,143 — 23,226 — 23,226 — — Separation Related Charges (2) — 1,986 1,751 10,270 5,060 13,579 3,309 Securitization Fees 2,785 3,230 8,668 10,060 12,163 13,555 3,495 (Gain) loss on disposals of property and equipment — 246 (3,311) (726) (3,075) (490) 236 Loss (Gain) on Sale of Equity Investment — — — 2,150 759 2,909 759 Third Party Debt Amendment Fees — 1,311 — 1,530 — 1,530 — Legal Reserves and Settlements, net of insurance proceeds (661) 1,182 4,432 3,200 3,764 2,532 (668) Gains, Losses and Other (3) (14) 1,222 131 755 2,010 2,634 1,879 Adjusted EBITDA (Non-GAAP) $ 80,851 $ 64,007 $ 225,781 $ 192,769 $ 290,437 $ 257,425 $ 64,656 Covenant Related Adjustments (4) — 1,800 — 16,800 3,600 20,400 3,600 Covenant Adjusted EBITDA (Non-GAAP) $ 80,851 $ 65,807 $ 225,781 $ 209,569 $ 294,037 $ 277,825 $ 68,256 Revenue $ 661,663 $ 673,799 $ 1,984,488 $ 2,022,828 $ 2,696,499 $ 2,734,839 $ 712,011 Net Income (Loss) as a percentage of sales 1.7% (0.1%) 0.4% (1.4%) (0.2%) (1.5%) (1.8%) Adjusted EBITDA Margin (Non-GAAP) 12.2% 9.5% 11.4% 9.5% 10.8% 9.4% 9.1% Covenant Adjusted EBITDA Margin (Non-GAAP) 12.2% 9.8% 11.4% 10.4% 10.9% 10.2% 9.6% Consolidated Consolidated Consolidated Three Months Ended Nine Months Ended Trailing Twelve Months Ended

Non-GAAP Reconciliations / Adjusted Operating Expenses ©2026 Vestis. All rights reserved. 18 ($ in Thousands) 1) Please refer to Note 2. Transformation, Restructuring and Severance, in the Company’s Form 10-Q for the quarter ended April 3, 2026. 2) Separation Related Charges include third-party expenses incurred in connection with the Company’s separation from Aramark on September 30, 2023, and the establishment of stand-alone public company operations. These costs primarily consist of rebranding initiatives, development of stand-alone technology infrastructure, and professional services. 3) Other includes certain costs or income items that are not individually material and do not relate to core business activities. July 3, June 27, July 3, June 27, 2026 2025 2026 2025 Operating Expenses $ 624,415 $ 648,838 $ 1,903,883 $ 1,976,038 Depreciation and Amortization (33,272) (34,856) (102,181) (107,674) Covenant-related adjustments — (1,800) — (16,800) Share-Based Compensation (3,287) 2,148 (9,004) (11,009) Severance (1,577) (376) (8,029) (12,327) Transformation Costs (1) (6,143) — (23,226) — (Gain) loss on disposals of property and equipment — (246) 3,311 726 Separation Related Charges (2) — (1,986) (1,751) (10,270) Legal Reserves and Settlements, net of insurance proceeds 661 (1,182) (4,432) (3,200) Third Party Debt — (1,311) — (1,530) Gains, Losses and Other (3) 14 (1,237) 136 (695) Adjusted Operating Expenses (Non-GAAP) $ 580,811 $ 607,992 $ 1,758,707 $ 1,813,259 Revenue $ 661,663 $ 673,799 $ 1,984,488 $ 2,022,828 Three Months Ended Year to-Date Ended

Historical Revenue & Cost Per Pound ©2026 Vestis. All rights reserved. 19 Revenue Per Pound $s per pound of volume processed Cost Per Pound $s per pound of volume processed *F4Q25 is normalized to exclude the 53rd operating week of fiscal 2025 1) See next slide for non-GAAP financial measure reconciliations and information regarding operational metrics definitions and calculations $1.49 $1.45 $1.44 $1.43 $1.41 $1.37 $1.38 $1.37 $1.37 $1.37 $1.42 F1Q24 F2Q24 F3Q24 F4Q24 F1Q25 F2Q25 F3Q25 F4Q25* F1Q26 F2Q26 F3Q26 $1.28 $1.27 $1.26 $1.26 $1.24 $1.24 $1.24 $1.23 $1.22 $1.22 $1.24 F1Q24 F2Q24 F3Q24 F4Q24 F1Q25 F2Q25 F3Q25 F4Q25* F1Q26 F2Q26 F3Q26

©2026 Vestis. All rights reserved. 20 Historic Revenue Per Pound and Non-GAAP Reconciliations/ Cost Per Pound and Operating Leverage ($ in Millions) 1) Cost Per Pound is calculated using Non-GAAP adjusted operating expenses (see Non-GAAP explanations and reconciliations earlier in this presentation) 2) Operating Leverage represents Revenue Per Pound less Cost Per Pound and is not a U.S. GAAP profitability measure * F4Q25 is normalized to exclude the 53rd operating week of fiscal 2025 F1Q24 F2Q24 F3Q24 F4Q24 F1Q25 F2Q25 F3Q25 F4Q25* F1Q26 F2Q26 F3Q26 Revenue 717.9$ 705.4$ 698.2$ 684.3$ 683.8$ 665.2$ 673.8$ 660.4$ 663.4$ 659.4$ 661.7$ Adjusted Operating Expenses (Non-GAAP) 619.7 618.2 611.4 603.8 602.6 602.6 608.0 596.6 593.0 584.9 580.8 Pounds Processed 482.7 484.9 484.7 479.0 486.0 486.5 489.2 483.0 484.6 480.5 467.3 Amounts per Pound (stated in Dollars) Revenue per Pound 1.49$ 1.45$ 1.44$ 1.43$ 1.41$ 1.37$ 1.38$ 1.37$ 1.37$ 1.37$ 1.42$ Cost per Pound (1) 1.28$ 1.27$ 1.26$ 1.26$ 1.24$ 1.24$ 1.24$ 1.23$ 1.22$ 1.22$ 1.24$ Operating Leverage (2) 0.21$ 0.18$ 0.18$ 0.17$ 0.17$ 0.13$ 0.14$ 0.14$ 0.15$ 0.15$ 0.18$ Revenue per Pound Change Y-o-Y (0.08)$ (0.08)$ (0.06)$ (0.06)$ (0.04)$ -$ 0.04$ Revenue per Pound % Change Y-o-Y (5)% (6)% (4)% (4)% (3)% 0 % 3 % Cost per Pound Change Y-o-Y (0.04)$ (0.03)$ (0.02)$ (0.03)$ (0.02)$ (0.02)$ -$ Cost per Pound % Change Y-o-Y (3)% (2)% (2)% (2)% (2)% (2)% 0 % Operating Leverage Change Y-o-Y (0.04)$ (0.05)$ (0.04)$ (0.03)$ (0.02)$ 0.02$ 0.04$ Operating Leverage % Change Y-o-Y (19)% (28)% (22)% (18)% (12)% 15 % 29 %

Non-GAAP Reconciliations / Investments in Capital Assets ©2026 Vestis. All rights reserved. 21 ($ in Thousands) Q1 Q2 Q3 Year-to-date Q1 Q2 Q3 Year-to-date Investments in property and equipment $9,386 $12,690 $17,955 $40,031 $14,732 $13,510 $14,860 $43,102 New Finance Leases 5,391 11,991 5,050 22,432 12,932 9,808 9,158 31,898 Investments in Capital Assets $14,777 $24,681 $23,005 $62,463 $27,664 $23,318 $24,018 $75,000 Fiscal 2026 Fiscal 2025

Operational Metrics / Product Dollar Mix ©2026 Vestis. All rights reserved. 22 ($ in Thousands) United States: Uniforms $219,797 36.6 % $237,678 38.8 % $670,179 37.2 % $716,601 38.9 % Workplace Supplies 380,945 63.4 % 375,624 61.2 % 1,132,372 62.8 % 1,124,491 61.1 % Total United States $600,742 100.0 % $613,302 100.0 % $1,802,551 100.0 % $1,841,092 100.0 % Canada: Uniforms $22,351 36.7 % $22,749 37.6 % $66,115 36.3 % $67,642 37.2 % Workplace Supplies 38,570 63.3 % 37,748 62.4 % 115,822 63.7 % 114,094 62.8 % Total Canada $60,921 100.0 % $60,497 100.0 % $181,937 100.0 % $181,736 100.0 % Consolidated: Uniforms $242,148 36.6 % $260,427 38.7 % $736,294 37.1 % $784,243 38.8 % Workplace Supplies 419,515 63.4 % 413,372 61.3 % 1,248,194 62.9 % 1,238,585 61.2 % Total Consolidated Revenue (as reported) $661,663 100.0 % $673,799 100.0 % $1,984,488 100.0 % $2,022,828 100.0 % July 3, 2026 June 27, 2025 Three Months Ended July 3, 2026 Nine Months Ended June 27, 2025

Non-GAAP Reconciliations / Free Cash Flow ©2026 Vestis. All rights reserved. 23 ($ in Millions) 1) Cash interest on bank debt plus A/R facility fees Individual Fiscal Quarters Referenced 2) Operating working capital includes accounts receivable, inventory, and accounts payable F2Q25 F3Q25 F4Q25 F1Q26 F2Q26 F3Q26 Adj EBITDA $47.6 $64.0 $64.7 $70.4 $74.5 $80.9 Cash interest (1) (23.7) (24.1) (32.2) (23.0) (21.0) (20.3) Cash tax (0.7) (14.4) (5.7) (4.4) (2.2) (2.2) Impacts from operating working capital (2) (12.3) 4.9 21.9 12.7 (0.4) (0.5) Other (4.3) (7.5) (17.7) (18.0) 7.3 7.1 Operating Cash Flow $6.6 $22.9 $31.0 $37.7 $58.2 $65.0 Capital expenditures (13.5) (14.9) (15.4) (9.4) (12.7) (18.0) Free Cash Flow (FCF) $(6.9) $8.0 $15.6 $28.3 $45.5 $47.0 Impacts of working capital 12.3 (4.9) (21.9) (12.7) 0.4 0.5 Free Cash Flow (FCF) excluding the impacts of working capital $5.4 $3.1 $(6.3) $15.6 $45.9 $47.5

Non-GAAP Reconciliations / Adjusted Free Cash Flow ©2026 Vestis. All rights reserved. 24 ($ in Thousands) Individual Fiscal Quarters Referenced July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025 Net cash provided by operating activities $ 64,935 $ 22,864 $ 160,873 $ 33,302 Purchases of property and equipment and other (17,955) (14,860) (40,031) (43,102) Free Cash Flow (Non-GAAP) $ 46,980 $ 8,004 $ 120,842 $ (9,800) Cash paid for Transformation Costs 7,226 — 23,427 — Cash paid for severance 1,341 — 10,829 — Adjusted Free Cash Flow (Non-GAAP) $ 55,547 $ 8,004 $ 155,098 $ (9,800) Three Months Ended Nine Months Ended

Non-GAAP Reconciliations / Operating Working Capital and Return on Working Capital Individual Fiscal Quarters Referenced ©2026 Vestis. All rights reserved. 25 ($ in Millions) 1) Operating working capital includes accounts receivable, inventory, and accounts payable 2) Return on working capital is calculated by dividing trailing twelve months Adjusted EBITDA with operating working capital F2Q25 F3Q25 F4Q25 F1Q26 F2Q26 F3Q26 Accounts Receivable $ 162.4 $ 175.8 $ 162.3 $ 153.0 $ 149.5 $ 143.0 Inventory 199.7 187.0 179.0 169.1 175.0 158.9 Accounts Payable 150.8 156.7 158.4 147.9 154.5 128.8 Operating Working Capital (1) $ 211.3 $ 206.1 $ 182.9 $ 174.2 $ 170.0 $ 173.1 Trailing Twelve Months Adjusted EBITDA $ 296.1 $ 273.2 $ 257.4 $ 246.6 $ 273.6 $ 290.4 Return on Working Capital (2) 140.1% 132.6% 140.7% 141.6% 160.9% 167.8%

Operational Metrics/Total Liquidity ©2026 Vestis. All rights reserved. 26 ($ in Millions) 1) Excess availability on the revolving credit facility represents total availability of $300 million less any borrowings on the revolving credit facility, less letters of credit outstanding ($5.8 million as of April 3, 2026). F2Q25 F3Q25 F4Q25 F1Q26 F2Q26 F3Q26 Excess availability on revolving credit facility (1) $ 264.3 $ 266.3 $ 268.2 $ 275.2 $ 294.2 $ 294.2 Cash on Hand 28.8 23.7 29.7 41.5 50.3 57.7 Total Liquidity $ 293.1 $ 290.0 $ 297.9 $ 316.7 $ 344.5 $ 351.8

Non-GAAP Reconciliations / Adjusted EPS ©2026 Vestis. All rights reserved. 27 1) Other includes certain costs or income items that are not individually material and do not relate to core business activities 2) Beginning in the second quarter of fiscal 2026, the Company calculated the tax effect of non-GAAP adjustments using the effective tax rate applicable to each respective quarterly period in which the adjustments are recognized. Year-to-date adjusted net income reflects the aggregation of each quarter’s after-tax adjustments, which management believes is consistent with the presentation of year-to-date GAAP results. Prior period amounts were adjusted to conform to the current period presentation (in thousands, except per share amounts) July 3, June 27, July 3, June 27, 2026 2025 2026 2025 Net Income (Loss) $ 11,046 $ (676) $ 7,251 $ (27,674) Adjustments: Amortization Expense 6,693 6,674 20,079 20,007 Share-Based Compensation 3,287 (2,148) 9,004 11,009 Severance 1,577 376 8,029 12,327 Transformation Costs 6,143 — 23,226 — (Gain) loss on disposals of property and equipment — 246 (3,311) (726) Separation Related Charges — 1,986 1,751 10,270 Third Party Debt Amendment Fees — 1,311 — 1,530 Legal Reserves and Settlements, net of insurance proceeds (661) 1,182 4,432 3,200 Loss on Sale of Equity Investment — — — 2,150 Gains, Losses and Other (1) (17) 1,227 (155) 755 Tax Impact of Reconciling Items Above (2) (3,914) (1,058) (11,209) (16,568) Adjusted Net Income (Loss) (Non-GAAP) $ 24,154 $ 9,120 $ 59,097 $ 16,280 Basic weighted-average shares outstanding 132,106 131,812 132,007 131,719 Diluted weighted-average shares outstanding 134,335 132,221 133,318 132,227 Basic (Loss) Earnings Per Share $ 0.08 $ (0.01) $ 0.05 $ (0.21) Diluted (Loss) Earnings Per Share $ 0.08 $ (0.01) $ 0.05 $ (0.21) Adjusted Basic (Loss) Earnings Per Share $ 0.18 $ 0.07 $ 0.45 $ 0.12 Adjusted Diluted (Loss) Earnings Per Share $ 0.18 $ 0.07 $ 0.44 $ 0.12 Consolidated Consolidated Three Months Ended Nine months ended

©2026 Vestis. All rights reserved.

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