Canada Goose (GOOS) grows Q3 sales but posts year-to-date net loss

Rhea-AI Filing Summary

Canada Goose Holdings Inc. reported strong third-quarter results for the period ended December 28, 2025, with revenue of $694.5 million, up from $607.9 million a year earlier. Net income was $138.0 million, compared with $143.6 million, and basic earnings per share were $1.39 versus $1.44.

For the first three quarters, revenue rose to $1,074.9 million from $963.8 million, but the company posted a net loss of $4.9 million versus net income of $75.9 million a year earlier, as selling, general and administrative expenses increased to $726.2 million, including a $43.8 million arbitration payment and higher share-based and earn-out related costs.

Positive

• None.

Negative

• Year-to-date swing to loss and higher cost base: For the first three quarters, results shifted from net income of $75.9m to a net loss of $4.9m, as SG&A expenses increased to $726.2m, including a $43.8m arbitration payment and higher share-based and earn-out related costs.

Insights

Equity analyst – branded consumer & retail

Revenue is growing, but higher costs and a legal award pushed year-to-date results to a loss.

Canada Goose grew third-quarter revenue to $694.5 million from $607.9 million, with segment operating income rising to $334.4 million. Direct-to-consumer remained the main driver, generating $591.0 million of quarterly revenue and $319.2 million of operating income.

Over the first three quarters, operating income dropped to $23.9 million from $109.0 million as SG&A rose to $726.2 million from $559.7 million. This includes a one-time arbitration payment of $43.8 million and $15.2 million of earn-out related remuneration costs.

Year-to-date, the company moved from net income of $75.9 million to a net loss of $4.9 million. Borrowings include a Term Loan of $403.7 million (carrying value) with quarterly repayments beginning in fiscal 2027, while cash increased to $346.9 million, supported by $78.1 million of operating cash flow over three quarters.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of February, 2026

Commission File Number: 001-38027

CANADA GOOSE HOLDINGS INC.

(Translation of registrant’s name into English)

100 Queen’s Quay East, 22nd Floor

Toronto, Ontario, Canada

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

EXHIBIT INDEX

Exhibits 99.1 and 99.2 to this report of a Foreign Private Issuer on Form 6-K are deemed filed for all purposes under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. 

Exhibit No.						Description
99.1						Consolidated Interim Financial Statements for the Third Quarter Ended December 28, 2025
99.2						Management’s Discussion and Analysis of Financial Condition and Results of Operation for the Third Quarter Ended December 28, 2025
99.3						Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer
99.4						Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer
99.5						Press release of Canada Goose Holdings Inc., dated February 5, 2026

SIGNATURES

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, thereunto duly authorized.

Canada Goose Holdings Inc.

By:

/s/ Neil Bowden

Name:

Neil Bowden

Title:

Chief Financial Officer

Date: February 5, 2026

Canada Goose Holdings Inc.

Condensed Consolidated Interim Financial Statements

As at and for the third and three quarters ended

December 28, 2025 and December 29, 2024

(Unaudited)

Condensed Consolidated Interim Statements of Income (Loss)

(unaudited)

(in millions of Canadian dollars, except per share amounts)

						Third quarter ended									Three quarters ended
			Notes			December 28, 2025			December 29, 2024						December 28, 2025			December 29, 2024
						$			$						$			$
Revenue			3			694.5			607.9						1,074.9			963.8
Cost of sales			6			180.7			155.9						324.8			295.1
Gross profit						513.8			452.0						750.1			668.7
Selling, general & administrative expenses						313.6			247.7						726.2			559.7
Operating income						200.2			204.3						23.9			109.0
Net interest, finance and other costs			10			11.4			14.3						28.3			26.0
Income (loss) before income taxes						188.8			190.0						(4.4)			83.0
Income tax expense						50.8			46.4						0.5			7.1
Net income (loss)						138.0			143.6						(4.9)			75.9
Attributable to:
Shareholders of the Company						134.8			139.7						(5.6)			67.7
Non-controlling interest						3.2			3.9						0.7			8.2
Net income (loss)						138.0			143.6						(4.9)			75.9
Earnings (loss) per share attributable to shareholders of the Company
Basic			4			$	1.39		$	1.44					$	(0.06)		$	0.70
Diluted			4			$	1.36		$	1.42					$	(0.06)		$	0.69

The accompanying notes to the condensed consolidated interim financial statements are an integral part of these financial statements.

Canada Goose Holdings Inc. Page 1 of 33

Condensed Consolidated Interim Statements of Comprehensive Income

(unaudited)

(in millions of Canadian dollars, except per share amounts)

						Third quarter ended									Three quarters ended
			Notes			December 28, 2025			December 29, 2024						December 28, 2025			December 29, 2024
						$			$						$			$
Net income (loss)						138.0			143.6						(4.9)			75.9
Other comprehensive income
Items that will not be reclassified to earnings, net of tax:
Actuarial loss on post-employment obligation						—			—						(0.2)			(0.7)
Items that may be reclassified to earnings, net of tax:
Cumulative translation adjustment gain (loss)						0.4			(7.5)						22.0			10.0
Net gain (loss) on derivatives designated as cash flow hedges			15			0.8			(1.2)						(6.4)			(10.2)
Reclassification of net (gain) loss on cash flow hedges to income			15			(0.5)			1.4						(1.0)			1.3
Other comprehensive income (loss)						0.7			(7.3)						14.4			0.4
Comprehensive income						138.7			136.3						9.5			76.3
Attributable to:
Shareholders of the Company						136.3			132.6						10.0			68.1
Non-controlling interest						2.4			3.7						(0.5)			8.2
Comprehensive income						138.7			136.3						9.5			76.3

The accompanying notes to the condensed consolidated interim financial statements are an integral part of these financial statements.

Canada Goose Holdings Inc. Page 2 of 33

Condensed Consolidated Interim Statements of Financial Position

(unaudited)

(in millions of Canadian dollars)

			Notes			December 28, 2025			December 29, 2024			March 30, 2025
						$			$			$
Assets									Reclassified			Reclassified
Current assets
Cash						346.9			285.2			334.4
Trade receivables			2, 5			202.9			182.8			98.0
Inventories			6			408.7			407.4			384.0
Income taxes receivable						25.5			15.9			10.2
Other current assets			14			51.5			55.0			63.8
Total current assets						1,035.5			946.3			890.4
Deferred income taxes						104.9			102.4			95.7
Property, plant and equipment						168.0			164.9			161.6
Intangible assets						128.7			132.2			131.9
Right-of-use assets			7			287.0			299.4			280.2
Goodwill						71.2			71.3			72.0
Other long-term assets			14			1.3			15.6			0.1
Total assets						1,796.6			1,732.1			1,631.9
Liabilities
Current liabilities
Accounts payable and accrued liabilities			2, 8, 14			275.9			223.5			186.7
Provisions			9			76.5			69.7			40.1
Income taxes payable						27.7			25.9			28.6
Short-term borrowings			10			15.5			70.6			4.3
Current portion of lease liabilities			7			92.4			84.7			83.9
Total current liabilities						488.0			474.4			343.6
Provisions			9			16.9			16.0			16.0
Deferred income taxes						13.0			13.4			20.8
Term Loan			10			399.6			410.5			407.7
Lease liabilities			7			246.0			265.3			246.9
Other long-term liabilities			14			52.8			43.1			40.3
Total liabilities						1,216.3			1,222.7			1,075.3
Equity			11
Equity attributable to shareholders of the Company						565.4			494.7			541.2
Non-controlling interests						14.9			14.7			15.4
Total equity						580.3			509.4			556.6
Total liabilities and equity						1,796.6			1,732.1			1,631.9

The accompanying notes to the condensed consolidated interim financial statements are an integral part of these financial statements.

Canada Goose Holdings Inc. Page 3 of 33

Condensed Consolidated Interim Statements of Changes in Equity

(unaudited)    

(in millions of Canadian dollars)

						Share capital									Contributed surplus			Retained earnings			Accumulated other comprehensive income			Total attributable to shareholders			Non-controlling interest			Total
			Notes			Multiple voting shares			Subordinate voting shares			Total
						$			$			$			$			$			$			$			$			$
Balance at March 30, 2025						1.4			108.2			109.6			65.4			346.7			19.5			541.2			15.4			556.6
Issuance of shares			11			—			4.2			4.2			(3.7)			—			—			0.5			—			0.5
Net (loss) income						—			—			—			—			(5.6)			—			(5.6)			0.7			(4.9)
Other comprehensive income (loss)						—			—			—			—			—			15.6			15.6			(1.2)			14.4
Share-based payment			12			—			—			—			13.7			—			—			13.7			—			13.7
Balance at December 28, 2025						1.4			112.4			113.8			75.4			341.1			35.1			565.4			14.9			580.3
Balance at March 31, 2024						1.4			103.5			104.9			54.4			252.5			5.2			417.0			6.5			423.5
Tax on normal course issuer bid purchase of subordinate voting shares in fiscal 2024						—			—			—			—			(0.6)			—			(0.6)			—			(0.6)
Issuance of shares			11			—			4.6			4.6			(4.0)			—			—			0.6			—			0.6
Net income						—			—			—			—			67.7			—			67.7			8.2			75.9
Other comprehensive income						—			—			—			—			—			0.4			0.4			—			0.4
Share-based payment			12			—			—			—			9.6			—			—			9.6			—			9.6
Balance at December 29, 2024						1.4			108.1			109.5			60.0			319.6			5.6			494.7			14.7			509.4

The accompanying notes to the condensed consolidated interim financial statements are an integral part of these financial statements.

Canada Goose Holdings Inc. Page 4 of 33

Condensed Consolidated Interim Statements of Cash Flows

(unaudited)

(in millions of Canadian dollars)

						Third quarter ended									Three quarters ended
			Notes			December 28, 2025			December 29, 2024						December 28, 2025			December 29, 2024
						$			$						$			$
Operating activities
Net income (loss)						138.0			143.6						(4.9)			75.9
Items not affecting cash:
Depreciation and amortization						33.2			32.6						96.1			97.5
Income tax expense						50.8			46.4						0.5			7.1
Interest expense			10			8.5			14.9						23.3			37.5
Foreign exchange loss (gain)						8.5			0.7						6.4			(1.2)
Loss on disposal of assets						0.1			0.5						0.7			0.9
Share-based payment			12			4.9			3.6						14.1			9.8
Remeasurement of put option			14			3.0			0.7						6.0			1.6
Remeasurement of contingent consideration			14			(0.1)			(1.3)						(1.0)			(13.1)
						246.9			241.7						141.2			216.0
Changes in non-cash operating items			16			103.2			118.4						(3.1)			(20.2)
Income taxes paid						(4.5)			(3.9)						(33.7)			(11.2)
Interest paid						(9.4)			(8.2)						(26.3)			(29.9)
Net cash from operating activities						336.2			348.0						78.1			154.7
Investing activities
Purchase of property, plant and equipment						(15.7)			(9.5)						(26.8)			(14.9)
Investment in intangible assets						—			(0.1)						—			(0.1)
Initial direct costs of right-of-use assets			7			(0.1)			(0.3)						(0.5)			(0.4)
Net cash used in investing activities						(15.8)			(9.9)						(27.3)			(15.4)
Financing activities
Mainland China Facilities (repayments) borrowings			10			(13.4)			(44.3)						—			30.1
Japan Facility (repayments) borrowings			10			(17.1)			3.8						11.4			29.8
Revolving Facility repayments			10			(8.0)			(60.9)						—			—
Term Loan borrowings (repayments)			10			—			—						16.6			(2.0)
Transaction costs on financing activities			10			—			—						(6.6)			—
Principal payments on lease liabilities			7			(22.9)			(23.2)						(63.2)			(64.1)
Settlement of term loan derivative contracts			15			—			—						6.6			—
Issuance of shares			12			0.5			0.6						0.5			0.6
Net cash used in financing activities						(60.9)			(124.0)						(34.7)			(5.6)
Effects of foreign currency exchange rate changes on cash						(6.8)			2.3						(3.6)			6.6
Increase in cash						252.7			216.4						12.5			140.3
Cash, beginning of period						94.2			68.8						334.4			144.9
Cash, end of period						346.9			285.2						346.9			285.2

The accompanying notes to the condensed consolidated interim financial statements are an integral part of these financial statements.

Canada Goose Holdings Inc. Page 5 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

Note 1.     The Company

Organization

Canada Goose Holdings Inc. and its subsidiaries (the “Company”) design, manufacture, and sell performance luxury apparel for men, women, youth, children, and babies. The Company’s product offerings include various styles of down-filled outerwear, rain and everyday jackets, fleece, vests, apparel, footwear, and accessories for the fall, winter, and spring seasons. The Company’s head office is located at 100 Queens Quay East, Toronto, Canada, M5E 1V3. The use of the terms “Canada Goose”, “we”, and “our” throughout these notes to the condensed consolidated interim financial statements ("Interim Financial Statements") refer to the Company.

Canada Goose is a public company listed on the Toronto Stock Exchange and the New York Stock Exchange under the trading symbol “GOOS”. The principal shareholders of the Company are investment funds advised by Bain Capital LP and its affiliates (“Bain Capital”), and DTR LLC ("DTR"), an entity indirectly controlled by the Chairman and Chief Executive Officer of the Company. The principal shareholders hold multiple voting shares representing 52.5% of the total shares outstanding as at December 28, 2025, or 91.7% of the combined voting power of the total voting shares outstanding. Subordinate voting shares that trade on public markets represent 47.5% of the total shares outstanding as at December 28, 2025, or 8.3% of the combined voting power of the total voting shares outstanding.

Statement of compliance

The Interim Financial Statements are prepared in accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”), specifically IAS 34, Interim Financial Reporting. Certain information, which is considered material to the understanding of the Interim Financial Statements and is normally included in the audited annual consolidated financial statements prepared in accordance with IFRS Accounting Standards, is not provided in these notes. These Interim Financial Statements should be read in conjunction with the Company's audited annual consolidated financial statements for the year ended March 30, 2025.

The Interim Financial Statements were authorized for issuance in accordance with a resolution of the Company’s Board of Directors on February 4, 2026.

Fiscal year

The Company's fiscal year is a 52 or 53-week reporting cycle with the fiscal year ending on the Sunday closest to March 31. Each fiscal quarter is 13 weeks for a 52-week fiscal year. Fiscal 2026 is a 52-week fiscal year.

Operating segments

The Company classifies its business in three operating and reportable segments: Direct-to-Consumer ("DTC"), Wholesale, and Other. The DTC segment comprises sales from our Company-owned retail stores and through country-specific e-Commerce platforms available across numerous markets, which includes the recommerce platform Canada Goose Generations, currently available in the United States and Canada.

The Wholesale segment comprises sales made to a mix of retailers and international distributors, who are partners that have exclusive rights to an entire market, and travel retail locations.

Canada Goose Holdings Inc. Page 6 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

The Other segment comprises revenue and costs that are not related to the Company’s DTC or Wholesale segments, such as sales to employees and friends and family sales.

Seasonality

The business is seasonal, and we have historically realized a significant portion of our Wholesale revenue and operating income in the second and third quarters of the fiscal year and DTC revenue and operating income in the third and fourth quarters of the fiscal year. Thus, lower-than-expected revenue in these periods could have an adverse impact on our annual operating results.

Cash flows from operating activities are typically highest in the third and fourth quarters of the fiscal year due to revenue from the DTC segment and the collection of trade receivables from Wholesale revenue earlier in the year. Working capital requirements typically increase as inventory builds. Borrowings have historically increased in the first and second quarters and been repaid in the balance of the year.

Note 2.    Material accounting policy information

Basis of presentation

The accounting policies and critical accounting estimates and judgments as disclosed in the Company's audited annual financial statements for the year ended March 30, 2025 have been applied consistently in the preparation of these Interim Financial Statements except as noted below. The Interim Financial Statements are presented in Canadian dollars, the Company’s functional and presentation currency.

Certain comparative figures have been reclassified to conform with the current year presentation.

Management identified an immaterial reclassification to the interim statement of financial position as at December 29, 2024, the annual statement of financial position as at March 30, 2025, and related note disclosures for comparative figures pertaining to sales taxes receivables presented in trade receivables, and sales taxes payables presented in accounts payable and accrued liabilities. Management reclassified $7.9m and $15.2m from accounts payable and accrued liabilities to trade receivables as at December 29, 2024 and March 30, 2025, respectively. These reclassifications did not impact the interim statement of income, the annual statement of income, and earnings per share for either reporting period. Comparative figures have been appropriately reclassified in the interim statement of financial position as at December 29, 2024, annual statement of financial position as at March 30, 2025, and related note disclosures.

Principles of consolidation

The Interim Financial Statements include the accounts of the Company and its subsidiaries and those investments over which the Company has control. All intercompany transactions and balances have been eliminated.

Standards issued and not yet adopted

Certain new standards, amendments, and interpretations to existing IFRS Accounting Standards have been published but are not yet effective and have not been adopted early by the Company. Management anticipates that pronouncements will be adopted in the Company’s accounting policy for the first period beginning after the effective date of the pronouncement. Information on new standards, amendments, and interpretations is provided below.

Canada Goose Holdings Inc. Page 7 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

In May 2024, the International Accounting Standards Board ("IASB") issued amendments to IFRS 9, Financial Instruments and IFRS 7, Financial Instruments: Disclosure to clarify the timing of recognition and derecognition of financial assets and liabilities, the settlement of financial liabilities using an electronic payment system, and the assessment of contractual cash flow characteristics, classification and disclosure of financial assets with environmental, social, and governance linked or other contingent features. The IASB also amended the disclosure requirements for investments in equity instruments designated as fair value through other comprehensive income and added disclosure requirements for financial instruments with contingent features. These amendments are effective for annual reporting periods beginning on or after January 1, 2026. The Company is currently evaluating the impact of these amendments on the consolidated financial statements.

In April 2024, the IASB issued IFRS 18, Presentation and Disclosure in Financial Statements to improve reporting of financial performance. IFRS 18 replaces IAS 1, Presentation of Financial Statements. Many requirements from IAS 1 remain unchanged into IFRS 18. The standard sets out requirements on presentation and disclosures in financial statements. It introduces a defined structure for the statement of income composed of required categories and subtotals. The standard also introduces specific disclosure requirements for management-defined performance measures and a reconciliation between these measures and the most similar subtotal specified in IFRS Accounting Standards, which must be disclosed in a single note. IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027. Earlier application is permitted. The Company is currently evaluating the impact of the adoption of IFRS 18 on the consolidated financial statements.

Note 3.    Segment information

The Company has three reportable operating segments: DTC, Wholesale, and Other. The Company measures each reportable operating segment’s performance based on revenue and segment operating income, which is the profit metric utilized by the Company's chief operating decision maker, the Chairman and Chief Executive Officer, for assessing the performance of operating segments. No single customer contributed 10 per cent or more to the Company’s revenue for the third and three quarters ended December 28, 2025 and December 29, 2024.

Corporate expenses comprise costs that do not occur through the DTC, Wholesale, or Other segments, including the cost of marketing expenditures to build brand awareness across all segments, management overhead costs in support of manufacturing operations, other corporate costs, and foreign exchange gains and losses not specifically associated with segment operations.

Canada Goose Holdings Inc. Page 8 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

The following table presents key performance information of the Company’s reportable operating segments:

			Third quarter ended									Three quarters ended
(in millions of Canadian dollars)			December 28, 2025			December 29, 2024						December 28, 2025			December 29, 2024
			$			$						$			$
Revenue
DTC			591.0			517.8						795.7			684.8
Wholesale			88.3			75.7						242.1			229.0
Other			15.2			14.4						37.1			50.0
Total segment revenue			694.5			607.9						1,074.9			963.8
Operating income
DTC			319.2			287.9						300.6			270.4
Wholesale			18.2			25.4						74.2			83.7
Other			(3.0)			1.2						(8.3)			8.1
Total segment operating income			334.4			314.5						366.5			362.2

The following table reconciles the Company’s reportable total segment operating income to income (loss) before income taxes:

			Third quarter ended									Three quarters ended
(in millions of Canadian dollars)			December 28, 2025			December 29, 2024						December 28, 2025			December 29, 2024
			$			$						$			$
Total segment operating income			334.4			314.5						366.5			362.2
Corporate expenses			(134.2)			(110.2)						(342.6)			(253.2)
Total operating income			200.2			204.3						23.9			109.0
Net interest, finance and other costs			11.4			14.3						28.3			26.0
Income (loss) before income taxes			188.8			190.0						(4.4)			83.0

Canada Goose Holdings Inc. Page 9 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

The following table summarizes depreciation and amortization in selling, general and administrative ("SG&A") expenses of each reportable operating segment and depreciation and amortization included in corporate expenses:

			Third quarter ended									Three quarters ended
(in millions of Canadian dollars)			December 28, 2025			December 29, 2024						December 28, 2025			December 29, 2024
			$			$						$			$
Depreciation and amortization expense
DTC			25.6			24.4						72.4			73.2
Wholesale			1.1			0.8						2.8			2.7
Other			0.3			—						0.7			0.6
Total segment depreciation and amortization expense			27.0			25.2						75.9			76.5
Corporate expenses			3.4			4.4						11.5			12.5
Total depreciation and amortization expense			30.4			29.6						87.4			89.0

Geographic information

The Company determines the geographic location of revenue based on the location of its customers.

			Third quarter ended									Three quarters ended
(in millions of Canadian dollars)			December 28, 2025			December 29, 2024						December 28, 2025			December 29, 2024
			$			$						$			$
Canada			103.9			91.1						186.3			170.7
United States			199.2			161.5						280.2			243.4
North America			303.1			252.6						466.5			414.1
Greater China1			248.3			219.6						326.1			287.9
Asia Pacific (excluding Greater China1)			53.3			50.9						93.8			79.5
Asia Pacific			301.6			270.5						419.9			367.4
EMEA2			89.8			84.8						188.5			182.3
Total revenue			694.5			607.9						1,074.9			963.8

1Greater China comprises Mainland China, Hong Kong, Macau, and Taiwan.

2EMEA comprises Europe, the Middle East, Africa, and Latin America.

Canada Goose Holdings Inc. Page 10 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

The Company’s non-current, non-financial assets (comprising property, plant and equipment, intangible assets, and right-of-use assets) are geographically located as follows:

(in millions of Canadian dollars)			December 28, 2025			December 29, 2024			March 30, 2025
			$			$			$
Canada			200.0			208.0			202.2
United States			105.9			127.1			118.7
North America			305.9			335.1			320.9
Greater China1			60.9			67.2			60.0
Asia Pacific (excluding Greater China1)			42.4			48.0			47.5
Asia Pacific			103.3			115.2			107.5
EMEA2			174.5			146.2			145.3
Non-current, non-financial assets			583.7			596.5			573.7

1Greater China comprises Mainland China, Hong Kong, Macau, and Taiwan.

2EMEA comprises Europe, the Middle East, Africa, and Latin America.

Canada Goose Holdings Inc. Page 11 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

Note 4.     Earnings per share

The following table presents details for the calculation of basic and diluted earnings per share:

			Third quarter ended									Three quarters ended
(in millions of Canadian dollars, except share and per share amounts)			December 28, 2025			December 29, 2024						December 28, 2025			December 29, 2024
Net income (loss) attributable to shareholders of the Company			$	134.8		$	139.7					$	(5.6)		$	67.7
Weighted average number of multiple and subordinate voting shares outstanding1			97,088,009			96,798,985						97,024,609			96,714,942
Weighted average number of shares on exercise of stock options, RSUs and PSUs1			2,250,912			1,373,227						—			1,319,037
Diluted weighted average number of multiple and subordinate voting shares outstanding			99,338,921			98,172,212						97,024,609			98,033,979
Earnings (loss) per share attributable to shareholders of the Company
Basic			$	1.39		$	1.44					$	(0.06)		$	0.70
Diluted			$	1.36		$	1.42					$	(0.06)		$	0.69

1Subordinate voting shares issuable on exercise of stock options are not treated as dilutive if including them would decrease the loss per share. Accordingly, for the third and three quarters ended December 28, 2025, nil and 1,908,126, respectively, potentially dilutive shares have been excluded from the calculation of diluted loss per share because their effect was anti-dilutive (third and three quarters ended December 29, 2024 - nil and nil shares, respectively).

Note 5.    Trade receivables

(in millions of Canadian dollars)			December 28, 2025			December 29, 2024			March 30, 2025
			$			$			$
						Reclassified			Reclassified
Trade accounts receivable			160.5			147.1			68.6
Sales tax receivables			27.3			17.2			22.9
Credit card receivables			27.6			16.3			4.5
Other receivables			4.0			4.7			4.5
			219.4			185.3			100.5
Less: expected credit loss and sales allowances			(16.5)			(2.5)			(2.5)
Trade receivables			202.9			182.8			98.0

Canada Goose Holdings Inc. Page 12 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

Note 6.     Inventories

(in millions of Canadian dollars)			December 28, 2025			December 29, 2024			March 30, 2025
			$			$			$
Raw materials			34.2			36.8			35.7
Work in progress			18.3			14.9			17.1
Finished goods			356.2			355.7			331.2
Total inventories at the lower of cost and net realizable value			408.7			407.4			384.0

Inventories are written down to net realizable value when the cost of inventories is estimated to be unrecoverable due to obsolescence, damage, or declining rate of sale.

The breakdown of the provision for inventory obsolescence is presented as follows:

(in millions of Canadian dollars)			December 28, 2025			December 29, 2024			March 30, 2025
			$			$			$
Raw material reserves			14.0			23.5			18.6
Finished goods reserves			32.2			37.2			32.2
Provision for inventory obsolescence			46.2			60.7			50.8

Amounts charged to cost of sales comprise the following:

			Third quarter ended									Three quarters ended
(in millions of Canadian dollars)			December 28, 2025			December 29, 2024						December 28, 2025			December 29, 2024
			$			$						$			$
Cost of goods manufactured			177.8			152.9						316.1			286.6
Depreciation and amortization included in costs of sales			2.9			3.0						8.7			8.5
Cost of sales			180.7			155.9						324.8			295.1

Canada Goose Holdings Inc. Page 13 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

Note 7.    Leases

Right-of-use assets

The following table presents changes in the cost and the accumulated depreciation of the Company’s right-of-use assets:

(in millions of Canadian dollars)			Retail stores			Manufacturing facilities			Other			Total
Cost			$			$			$			$
March 30, 2025			520.4			49.6			65.9			635.9
Additions			58.7			—			1.3			60.0
Lease modifications			9.2			7.3			0.2			16.7
Derecognition on termination			(33.3)			(3.1)			(8.6)			(45.0)
Impact of foreign currency translation			(9.6)			—			(0.1)			(9.7)
December 28, 2025			545.4			53.8			58.7			657.9
March 31, 2024			450.3			44.2			60.9			555.4
Additions			52.5			—			2.2			54.7
Lease modifications			11.7			4.5			1.0			17.2
Derecognition on termination			(6.4)			—			(1.5)			(7.9)
Impact of foreign currency translation			22.9			—			1.1			24.0
December 29, 2024			531.0			48.7			63.7			643.4

Canada Goose Holdings Inc. Page 14 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

(in millions of Canadian dollars)			Retail stores			Manufacturing facilities			Other			Total
Accumulated depreciation			$			$			$			$
March 30, 2025			295.7			29.6			30.4			355.7
Depreciation			53.6			4.6			5.9			64.1
Derecognition on termination			(33.3)			(1.8)			(8.6)			(43.7)
Impact of foreign currency translation			(4.9)			—			(0.3)			(5.2)
December 28, 2025			311.1			32.4			27.4			370.9
March 31, 2024			229.7			24.0			21.9			275.6
Depreciation			52.2			3.9			6.3			62.4
Derecognition on termination			(6.4)			—			(0.5)			(6.9)
Impact of foreign currency translation			12.2			—			0.7			12.9
December 29, 2024			287.7			27.9			28.4			344.0
Net book value
December 28, 2025			234.3			21.4			31.3			287.0
December 29, 2024			243.3			20.8			35.3			299.4
March 30, 2025			224.7			20.0			35.5			280.2

Lease liabilities

The following table presents the changes in the Company's lease liabilities:

(in millions of Canadian dollars)			Retail stores			Manufacturing facilities			Other			Total
			$			$			$			$
March 30, 2025			260.0			23.3			47.5			330.8
Additions			58.3			—			1.3			59.6
Lease modifications			9.2			7.3			0.2			16.7
Principal payments			(52.6)			(4.4)			(6.2)			(63.2)
Impact of foreign currency translation			(5.5)			—			—			(5.5)
December 28, 2025			269.4			26.2			42.8			338.4
March 31, 2024			255.7			23.8			51.0			330.5
Additions			52.1			—			2.2			54.3
Lease modifications			11.6			4.5			1.0			17.1
Derecognition on termination			—			—			(1.0)			(1.0)
Principal payments			(53.3)			(4.3)			(6.5)			(64.1)
Impact of foreign currency translation			12.7			0.1			0.4			13.2
December 29, 2024			278.8			24.1			47.1			350.0

Canada Goose Holdings Inc. Page 15 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

Lease liabilities are classified as current and non-current liabilities as follows:

(in millions of Canadian dollars)			Retail stores			Manufacturing facilities			Other			Total
			$			$			$			$
Current lease liabilities			77.1			7.6			7.7			92.4
Non-current lease liabilities			192.3			18.6			35.1			246.0
December 28, 2025			269.4			26.2			42.8			338.4
Current lease liabilities			71.6			5.9			7.2			84.7
Non-current lease liabilities			207.2			18.2			39.9			265.3
December 29, 2024			278.8			24.1			47.1			350.0
Current lease liabilities			70.3			6.1			7.5			83.9
Non-current lease liabilities			189.7			17.2			40.0			246.9
March 30, 2025			260.0			23.3			47.5			330.8

For the third and three quarters ended December 28, 2025, $25.4m and $36.8m, respectively, of lease payments were not included in the measurement of lease liabilities (third and three quarters ended December 29, 2024 - $20.1m and $26.6m, respectively). The majority of these balances related to short-term leases and variable rent payments, which are expensed as incurred.

Note 8.     Accounts payable and accrued liabilities

During the first quarter ended June 29, 2025, an arbitration that took place in fiscal 2024 concluded between the Company and a former supplier of the Company in connection with a previously announced commercial dispute relating to the termination of a contract in 2021. The arbitration resulted in an unfavourable judgment against the Company with financial compensation to be awarded to the former supplier. As a result, the Company was required to make a one-time payment to the former supplier of USD32.0m ($43.8m), inclusive of legal costs, which was recognized in SG&A expenses in the interim statements of income (loss).

The award and legal costs were paid to the former supplier during the second quarter ended September 28, 2025.

Refer to “Note 23. Litigation and other contingencies” in our fiscal 2025 Annual Financial Statements for previously disclosed information on the matter.

Canada Goose Holdings Inc. Page 16 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

Accounts payable and accrued liabilities consist of the following:

(in millions of Canadian dollars)			December 28, 2025			December 29, 2024			March 30, 2025
			$			$			$
						Reclassified			Reclassified
Trade payables			65.8			48.4			51.4
Accrued liabilities			131.5			105.4			86.8
Employee benefits			35.7			33.2			31.6
Derivative financial instruments			2.1			7.3			2.6
Other payables			40.8			29.2			14.3
Accounts payable and accrued liabilities			275.9			223.5			186.7

Note 9.    Provisions

Provisions are classified as current and non-current liabilities based on legal rights which exist as at the reporting date as follows:

(in millions of Canadian dollars)			Warranty			Sales returns			Asset retirement obligations			Total
			$			$			$			$
Current provisions			29.8			46.7			—			76.5
Non-current provisions			—			—			16.9			16.9
December 28, 2025			29.8			46.7			16.9			93.4
Current provisions			29.7			40.0			—			69.7
Non-current provisions			—			—			16.0			16.0
December 29, 2024			29.7			40.0			16.0			85.7
Current provisions			29.0			11.1			—			40.1
Non-current provisions			—			—			16.0			16.0
March 30, 2025			29.0			11.1			16.0			56.1

Note 10.     Borrowings

Revolving Facility

The Company has an agreement with a syndicate of lenders for a senior secured asset-based revolving credit facility ("Revolving Facility") in the amount of $467.5m, with an increase in commitments to $517.5m during the peak season (June 1 - November 30). The Revolving Facility matures on May 15, 2028. Amounts owing under the Revolving Facility may be borrowed, repaid and re-borrowed for general corporate purposes. The Company has pledged substantially all of its assets as collateral for the Revolving Facility. The Revolving Facility contains financial and non-financial covenants which could impact the Company’s ability to draw funds.

Canada Goose Holdings Inc. Page 17 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

The Revolving Facility has multiple interest rate charge options that are based on the Canadian prime rate, Canadian Overnight Repo Rate Average, the lenders' Alternate Base Rate, European Base Rate, secured overnight financing rate ("SOFR"), or EURIBOR rate plus an applicable margin, with interest payable the earlier of quarterly or at the end of the then current interest period (whichever is earlier).

As at December 28, 2025, the Company had repaid all amounts owing on the Revolving Facility (December 29, 2024 - no amounts owing, March 30, 2025 - no amounts owing). As at December 28, 2025, no interest and administrative fees remain outstanding (December 29, 2024 - no amounts owing, March 30, 2025 - no amounts owing). There were deferred financing charges of $0.6m as at December 28, 2025 and were included in other long-term liabilities (December 29, 2024 - $0.8m, March 30, 2025 - $0.7m). As at and during the three quarters ended December 28, 2025, the Company was in compliance with all covenants.

The Company had unused borrowing capacity available under the Revolving Facility of $266.3m as at December 28, 2025 (December 29, 2024 - $309.5m, March 30, 2025 - $134.0m).

The revolving credit commitment also includes a letter of credit commitment in the amount of $25.0m. As at December 28, 2025, the Company had letters of credit outstanding under the Revolving Facility of $8.4m (December 29, 2024 - $1.6m, March 30, 2025 - $4.4m).

Term Loan

The Company has a senior secured loan agreement with a syndicate of lenders that is secured on a split collateral basis ("Term Loan") alongside the Revolving Facility. On August 21, 2025, the Company entered into a refinancing amendment to its existing Term Loan ("Amendment to Term Loan").

Following the Amendment to Term Loan, the aggregate principal amount of the Term Loan Facility was USD300.0m, with quarterly repayments of USD0.75m on the principal amount which will commence in the first quarter of fiscal 2027, and a maturity date of August 23, 2032. The applicable interest rate applied to SOFR borrowings was SOFR+3.50% with SOFR subject to a floor of 0.50%. The Company has pledged substantially all of its assets as collateral for the Term Loan. The Term Loan contains financial and non-financial covenants which could impact the Company’s ability to draw funds. As the Term Loan is denominated in U.S. dollars, the Company remeasures the outstanding balance plus accrued interest at each balance sheet date.

The Company accounted for the Amendment to Term Loan as a debt extinguishment due to a change in the syndicate lenders, decrease in the interest rate and extension of maturity date. As a result, deferred financing costs of USD0.3m related to the previous Term Loan were written-off during the second quarter ended September 28, 2025 and recorded to net interest, finance and other costs in the interim statements of income (loss). The Company incurred transaction costs related to the Amendment to Term Loan of $5.7m (USD4.1m) and an original issue discount ("OID") of $1.0m (USD0.8m), which are being amortized using the effective interest rate method over the new term to maturity.

Refer to “Note 15. Financial risk management objectives and policies” for details on amendments to derivative transactions related to the Amendment to Term Loan.

As at December 28, 2025, the Company had USD300.0m (December 29, 2024 - USD288.8m, March 30, 2025 - USD288.0m) aggregate principal amount outstanding under the Term Loan. As at and during the three quarters ended December 28, 2025, the Company was in compliance with all covenants.

Canada Goose Holdings Inc. Page 18 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

The amount outstanding with respect to the Term Loan is as follows:

(in millions of Canadian dollars)			December 28, 2025			December 29, 2024			March 30, 2025
			$			$			$
Term Loan			410.1			416.3			412.4
Unamortized portion of deferred transaction costs			(5.4)			(0.5)			(0.4)
OID			(1.0)			—			—
Term Loan, net of unamortized deferred transaction costs and OID			403.7			415.8			412.0

Mainland China Facilities

A subsidiary of the Company in Mainland China has uncommitted loan facilities in the aggregate amount of RMB560.0m ($109.1m) ("Mainland China Facilities"). The term of each draw on the loans is one, three or six months or such other period as agreed upon and shall not exceed 12 months (including any extension or rollover). The interest rate on each facility is equal to 3.1% or the loan prime rate of 1 year, minus a marginal rate between 0.2% to 0.6%, and payable quarterly. Proceeds drawn on the Mainland China Facilities are being used to support working capital requirements and build up of inventory for peak season sales. As at December 28, 2025, the Company had no amounts owing on the Mainland China Facilities (December 29, 2024 - $30.1m (RMB152.3m), March 30, 2025 - no amounts owing).

Japan Facility

A subsidiary of the Company in Japan has a loan facility in the aggregate amount of JPY4,000.0m ($34.9m) ("Japan Facility") with a floating interest rate of Japanese Bankers Association Tokyo Interbank Offered Rate plus an applicable margin of 0.30%. The term of the facility is 12 months and each draw on the facility is payable within the term. Proceeds drawn on the Japan Facility are being used to support build up of inventory for peak season sales. As at December 28, 2025, the Company had $11.4m (JPY1,300.0m) owing on the Japan Facility (December 29, 2024 - $35.2m (JPY3,850.0m), March 30, 2025 - no amounts owing).

Short-term Borrowings

Short-term borrowings consist of the following:

(in millions of Canadian dollars)			December 28, 2025			December 29, 2024			March 30, 2025
			$			$			$
Mainland China Facilities			—			30.1			—
Japan Facility			11.4			35.2			—
Term Loan			4.1			5.3			4.3
Total short-term borrowings			15.5			70.6			4.3

Short-term borrowings are all due within the next 12 months. The Term Loan amount above reflects the quarterly principal repayments.

Canada Goose Holdings Inc. Page 19 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

Net interest, finance and other costs consist of the following:

			Third quarter ended									Three quarters ended
(in millions of Canadian dollars)			December 28, 2025			December 29, 2024						December 28, 2025			December 29, 2024
			$			$						$			$
Interest expense
Mainland China Facilities			0.1			0.6						0.1			0.8
Japan Facility			0.1			0.1						0.2			0.1
Revolving Facility			0.1			0.4						0.5			2.5
Term Loan			4.1			4.7						13.9			15.2
Lease liabilities			4.8			4.2						13.2			12.9
Standby fees			0.3			0.3						0.9			0.9
Foreign exchange (gains) losses on Term Loan net of hedges			(0.8)			4.9						(4.1)			5.7
Fair value remeasurement on the put option liability (note 14)			3.0			0.7						6.0			1.6
Fair value remeasurement on the contingent consideration (note 14)			(0.1)			(1.3)						(1.0)			(13.1)
Interest income			(0.3)			(0.3)						(2.5)			(0.9)
Other costs			0.1			—						1.1			0.3
Net interest, finance and other costs			11.4			14.3						28.3			26.0

Note 11.     Shareholders' equity

Share capital transactions for the three quarters ended December 28, 2025

Normal course issuer bid for Fiscal 2026

In November 2025, the Company renewed its normal course issuer bid in relation to its subordinate voting shares (“Fiscal 2026 NCIB”). The Company is authorized to make purchases under the Fiscal 2026 NCIB from November 10, 2025 to November 9, 2026, in accordance with the requirements of the Toronto Stock Exchange (the “TSX”). The Board of Directors of the Company has authorized the Company to repurchase up to 4,578,677 subordinate voting shares, representing approximately 10.0% of the Public Float (as defined in the rules of the TSX) for the subordinate voting shares as at October 27, 2025. Purchases will be made by means of open market transactions on both the TSX and the New York Stock Exchange (the “NYSE”), or alternative trading systems, if eligible, and will conform to their regulations. Under the Fiscal 2026 NCIB, the Company is allowed to repurchase daily, through the facilities of the TSX, a maximum of 58,127 subordinate voting shares, representing 25% of the average daily trading volume, as calculated per the TSX rules for the six-month period starting on May 1, 2025 and ending on October 31, 2025.

In connection with the Fiscal 2026 NCIB, the Company also entered an automatic share purchase plan (the “ASPP”) under which a designated broker may purchase subordinate voting shares under the Fiscal 2026 NCIB during the regularly scheduled quarterly trading blackout

Canada Goose Holdings Inc. Page 20 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

periods of the Company. The repurchases made under the ASPP will be made in accordance with certain purchasing parameters and will continue until the earlier of the date in which the Company has purchased the maximum value of subordinate voting shares pursuant to the Fiscal 2026 NCIB or upon the date of expiry of the Fiscal 2026 NCIB.

Since the commencement of the bid on November 10, 2025, the Company made no repurchases under the Fiscal 2026 NCIB.

During the three quarters ended December 28, 2025 and the three quarters ended December 29, 2024, the Company made no repurchases under the normal course issuer bid in place.

The transactions affecting the issued and outstanding share capital of the Company are described below:

(in millions of Canadian dollars, except share amounts)			Multiple voting shares									Subordinate voting shares									Total
			Number			$						Number			$						Number			$
March 30, 2025			51,004,076			1.4						45,830,391			108.2						96,834,467			109.6
Exercise of stock options			—			—						56,881			0.5						56,881			0.5
Settlement of RSUs			—			—						237,101			3.7						237,101			3.7
Total share issuances			—			—						293,982			4.2						293,982			4.2
December 28, 2025			51,004,076			1.4						46,124,373			112.4						97,128,449			113.8

Share capital transactions for the three quarters ended December 29, 2024

The transactions affecting the issued and outstanding share capital of the Company are described below:

(in millions of Canadian dollars, except share amounts)			Multiple voting shares									Subordinate voting shares									Total
			Number			$						Number			$						Number			$
March 31, 2024			51,004,076			1.4						45,528,438			103.5						96,532,514			104.9
Exercise of stock options			—			—						99,039			0.6						99,039			0.6
Settlement of RSUs			—			—						174,203			4.0						174,203			4.0
Total share issuances			—			—						273,242			4.6						273,242			4.6
December 29, 2024			51,004,076			1.4						45,801,680			108.1						96,805,756			109.5

Note 12.    Share-based payments

Stock options

The Company has issued stock options to purchase subordinate voting shares under its incentive plans, prior to the public share offering on March 21, 2017, the Legacy Plan, and subsequently, the Omnibus Plan. All options are issued at an exercise price that is not less than market value at the time of grant and expire ten years after the grant date.

Canada Goose Holdings Inc. Page 21 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

Stock option transactions are as follows:

			Three quarters ended
			December 28, 2025									December 29, 2024
(in millions of Canadian dollars, except share and per share amounts)			Weighted average exercise price			Number of shares						Weighted average exercise price			Number of shares
Options outstanding, beginning of period			$	30.78		4,757,953						$	33.51		4,608,777
Granted			$	16.82		1,151,845						$	17.92		1,000,924
Exercised			$	9.18		(56,881)						$	5.53		(99,039)
Cancelled			$	19.99		(87,534)						$	35.20		(678,281)
Options outstanding, end of period			$	28.36		5,765,383						$	30.62		4,832,381

Restricted share units

The Company has granted shares as part of the Restricted Share Unit ("RSU") program under the Omnibus Plan to employees of the Company. The RSUs are treated as equity instruments for accounting purposes. We expect that vested RSUs will be paid at settlement through the issuance of one subordinate voting share per RSU. The RSUs vest over a period of three years, a third on each anniversary of the date of grant.

RSU transactions are as follows:

			Three quarters ended
			December 28, 2025						December 29, 2024
			Number of shares						Number of shares
RSUs outstanding, beginning of period			615,158						480,518
Granted			528,860						420,634
Settled			(237,101)						(174,203)
Cancelled			(35,229)						(85,956)
RSUs outstanding, end of period			871,688						640,993

Performance share units

The Company has granted shares as part of the Performance Share Unit (“PSU”) program under the Omnibus Plan. A PSU represents the right to receive a subordinate voting share settled by the issuance of shares at the vesting date. PSUs vest on the third anniversary of the award date and are earned only if certain performance targets are achieved. Shares issued per PSU at the vesting date can decrease or increase if minimum or maximum performance targets are achieved ranging from 0% to 200% of the PSU award granted. If performance targets are achieved, the Company expects that those vested PSUs will be paid at settlement through the issuance of one subordinate voting share per PSU. PSUs are treated as equity instruments for accounting purposes.

Canada Goose Holdings Inc. Page 22 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

PSU transactions are as follows:

			Three quarters ended
			December 28, 2025						December 29, 2024
			Number of shares						Number of shares
PSUs outstanding, beginning of period			676,031						342,925
Granted			488,260						428,121
Cancelled			(10,717)						(86,646)
PSUs outstanding, end of period			1,153,574						684,400

Shares reserved for issuance

As at December 28, 2025, subordinate voting shares, to a maximum of 2,185,176 shares, have been reserved for issuance under equity incentive plans to select employees of the Company, with vesting contingent upon meeting the service, performance goals and other conditions of the Omnibus Plan.

Accounting for share-based awards

For the third and three quarters ended December 28, 2025, the Company recorded $4.9m and $14.1m, respectively, as compensation expense for the vesting of stock options, RSUs and PSUs (third and three quarters ended December 29, 2024 - $3.6m and $9.8m, respectively). Share-based compensation expense is included in SG&A expenses.

The assumptions used to measure the fair value of options granted under the Black-Scholes option pricing model at the grant date were as follows:

			Three quarters ended
(in millions of Canadian dollars, except share and per share amounts)			December 28, 2025						December 29, 2024
Weighted average stock price valuation			$	16.82					$	17.92
Weighted average exercise price			$	16.82					$	17.92
Risk-free interest rate			2.69		%				3.98		%
Expected life in years			5						5
Expected dividend yield			—		%				—		%
Volatility			40		%				40		%
Weighted average fair value of options issued			$	5.40					$	6.03

RSU and PSU fair values are determined based on the market value of the subordinate voting shares at the time of grant. As at December 28, 2025, the weighted average fair value of RSUs was $17.02 (December 29, 2024 - $18.38). As at December 28, 2025, the weighted average fair value of PSUs was $16.82 (December 29, 2024 - $18.85).

Canada Goose Holdings Inc. Page 23 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

Note 13.    Related party transactions

The Company enters into transactions from time to time with its principal shareholders, as well as organizations affiliated with members of the Board of Directors and key management personnel by incurring expenses for business services. During the third and three quarters ended December 28, 2025, the Company had transactions with related parties of $0.7m and $2.3m, respectively, (third and three quarters ended December 29, 2024 - $0.2m and $1.3m, respectively) from companies related to certain shareholders. Balances owing to related parties as at December 28, 2025 were $0.6m (December 29, 2024 - $0.5m, March 30, 2025 - $0.4m).

A lease liability due to the former controlling shareholder of the acquired Baffin Inc. business (the "Baffin Vendor") for leased premises was $0.9m as at December 28, 2025 (December 29, 2024 - $2.0m, March 30, 2025 - $1.7m). During the third and three quarters ended December 28, 2025, the Company paid principal and interest on the lease liability and other operating costs to entities affiliated with the Baffin Vendor totalling $0.4m and $1.3m, respectively (third and three quarters ended December 29, 2024 - $0.4m and $1.3m, respectively). No amounts were owing to Baffin entities as at December 28, 2025, December 29, 2024, and March 30, 2025.

The joint venture between the Company and Sazaby League ("Japan Joint Venture"), has lease liabilities due to the non-controlling shareholder, Sazaby League, for leased premises. Lease liabilities were $1.0m as at December 28, 2025 (December 29, 2024 - $1.5m, March 30, 2025 - $1.4m). During the third and three quarters ended December 28, 2025, the Company incurred principal and interest on lease liabilities, royalty fees, and other operating costs to Sazaby League totalling $0.9m and $3.2m, respectively (third and three quarters ended December 29, 2024 - $0.8m and $2.6m, respectively). Balances owing to Sazaby League as at December 28, 2025 were $0.4m (December 29, 2024 - $0.3m, March 30, 2025 - $0.4m).

During the third and three quarters ended December 28, 2025, the Japan Joint Venture sold inventory of $0.7m and $0.7m, respectively, to companies wholly owned by Sazaby League (third and three quarters ended December 29, 2024 - $0.7m and $0.9m, respectively). As at December 28, 2025, the Japan Joint Venture recognized a trade receivable of $0.6m from these companies (December 29, 2024 - $0.6m, March 30, 2025 - $0.1m).

In connection with the Paola Confectii business combination that occurred on November 1, 2023, subject to the controlling shareholders of Paola Confectii SRL ("PCML Vendors") remaining employees through November 1, 2025, an additional consideration was payable to the PCML Vendors if certain performance conditions were met based on financial results (“Earn-Out”). During the third and three quarters ended December 28, 2025, the Company recognized $3.3m and $15.2m, respectively, of remuneration costs (third and three quarters ended December 29, 2024 - $1.2m and $2.7m, respectively) related to the Earn-Out in SG&A in the interim statements of income (loss). As at December 29, 2024, these costs were included in other long term liabilities in the interim statement of financial position, and were fully paid as at December 28, 2025.

A lease liability due to one of the PCML Vendors for leased premises was $1.1m as at December 28, 2025 (December 29, 2024 - $1.2m, March 30, 2025 - $1.2m). During the third and three quarters ended December 28, 2025, the Company paid principal and interest on the lease liability, to one of the PCML Vendors totalling less than $0.1m and $0.1m, respectively (third and three quarters ended December 29, 2024 - less than $0.1m and $0.1m, respectively). No amounts were owing to one of the PCML Vendors as at December 28, 2025, December 29, 2024, and March 30, 2025.

Canada Goose Holdings Inc. Page 24 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

Note 14.    Financial instruments and fair value

The following table presents the fair values and fair value hierarchy of the Company’s financial instruments and excludes financial instruments carried at amortized cost that are short-term in nature:

			December 28, 2025
(in millions of Canadian dollars)			Level 1			Level 2			Level 3			Carrying value			Fair value
			$			$			$			$			$
Financial assets
Derivatives included in other current assets			—			4.3			—			4.3			4.3
Financial liabilities
Derivatives included in accounts payable and accrued liabilities			—			2.1			—			2.1			2.1
Japan Facility			—			11.4			—			11.4			11.4
Term Loan			—			403.7			—			403.7			410.1
Derivatives included in other long-term liabilities			—			9.2			—			9.2			9.2
Put option liability included in other long-term liabilities			—			—			41.4			41.4			41.4
Contingent consideration included in other long-term liabilities			—			—			0.5			0.5			0.5

			December 29, 2024
(in millions of Canadian dollars)			Level 1			Level 2			Level 3			Carrying value			Fair value
			$			$			$			$			$
Financial assets
Derivatives included in other current assets			—			11.1			—			11.1			11.1
Derivatives included in other long-term assets			—			15.6			—			15.6			15.6
Financial liabilities
Derivatives included in accounts payable and accrued liabilities			—			7.3			—			7.3			7.3
Mainland China Facilities			—			30.1			—			30.1			30.1
Japan Facility			—			35.2			—			35.2			35.2
Term Loan			—			415.8			—			415.8			418.1
Put option liability included in other long-term liabilities			—			—			31.7			31.7			31.7
Contingent consideration included in other long-term liabilities			—			—			4.3			4.3			4.3
Earn-Out included in other long-term liabilities (note 13)			—			—			4.2			4.2			4.2

Canada Goose Holdings Inc. Page 25 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

			March 30, 2025
(in millions of Canadian dollars)			Level 1			Level 2			Level 3			Carrying value			Fair value
			$			$			$			$			$
Financial assets
Derivatives included in other current assets			—			24.2			—			24.2			24.2
Financial liabilities
Derivatives included in accounts payable and accrued liabilities			—			2.6			—			2.6			2.6
Earn-Out included in accounts payable and accrued liabilities (note 13)			—			—			9.0			9.0			9.0
Term Loan			—			412.0			—			412.0			413.1
Put option liability included in other long-term liabilities			—			—			39.0			39.0			39.0
Contingent consideration included in other long-term liabilities			—			—			1.5			1.5			1.5

In connection with the Japan Joint Venture, for the third and three quarters ended December 28, 2025, the Company recorded a decrease of JPY18.5m ($0.2m, excluding translation losses of $0.1m) and a decrease of JPY105.0m ($1.1m, excluding translation losses of $0.1m) on the remeasurement of the contingent consideration, respectively. The Company recorded an increase of JPY344.9m ($0.4m, excluding translation losses of $2.6m) and an increase of JPY660.4m ($2.4m, excluding translation losses of $3.6m) on the remeasurement of the put option liability during the third and three quarters ended December 28, 2025, respectively. The change in fair value of the contingent consideration and the put option liability was driven by progression through the 10-year term.

For the third and three quarters ended December 29, 2024, the Company recorded a decrease of JPY141.2m ($1.5m, excluding translation losses of $0.2m) and a decrease of JPY1,514.0m ($13.4m, excluding translation losses of $0.3m) on the remeasurement of the contingent consideration, respectively. The Company recorded an increase of JPY71.3m ($0.6m, excluding translation losses of $1.3m) and an increase of JPY185.6m ($2.3m, excluding translation gains of $0.7m) on the remeasurement of the put option liability during the third and three quarters ended December 29, 2024, respectively.

Note 15.    Financial risk management objectives and policies

The Company’s primary risk management objective is to protect the Company’s assets and cash flow, in order to increase the Company’s enterprise value.

The Company is exposed to capital management risk, liquidity risk, credit risk, market risk, foreign exchange risk, and interest rate risk. The Company’s senior management and Board of Directors oversee the management of these risks. The Board of Directors reviews and agrees upon policies for managing each of these risks which are summarized below.

Capital management

The Company manages its capital and capital structure with the objectives of safeguarding sufficient working capital over the annual operating cycle and providing sufficient financial resources to grow operations to meet long-term consumer demand. The Board of Directors of

Canada Goose Holdings Inc. Page 26 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

the Company monitors the Company’s capital management on a regular basis. The Company will continually assess the adequacy of the Company’s capital structure and capacity and make adjustments within the context of the Company’s strategy, economic conditions, and risk characteristics of the business.

Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to satisfy the requirements for business operations, capital expenditures, debt service and general corporate purposes, under normal and stressed conditions. The primary source of liquidity is funds generated by operating activities; the Company also relies on the Mainland China Facilities, the Japan Facility, and the Revolving Facility as sources of funds for short-term working capital needs. The Company continuously reviews both actual and forecasted cash flows to ensure that the Company has appropriate capital capacity.

The following table summarizes the amount of contractual undiscounted future cash flow requirements by fiscal year as at December 28, 2025:

(in millions of Canadian dollars)			Q4 2026			2027			2028			2029			2030			2031			Thereafter			Total
			$			$			$			$			$			$			$			$
Accounts payable and accrued liabilities			275.9			—			—			—			—			—			—			275.9
Japan Facility			11.4			—			—			—			—			—			—			11.4
Term Loan			1.0			4.1			4.1			4.1			4.1			4.1			388.6			410.1
Interest commitments relating to borrowings1			7.7			30.2			30.2			30.2			30.2			30.2			42.2			200.9
Derivative contracts			—			—			—			—			—			7.0			—			7.0
Lease obligations			33.9			107.2			77.1			61.7			51.4			42.5			92.5			466.3
Pension obligation			—			—			—			—			—			—			1.1			1.1
Total contractual obligations			329.9			141.5			111.4			96.0			85.7			83.8			524.4			1,372.7

1Interest commitments are calculated based on the outstanding loan balance and the interest rate payable on the Japan Facility and the Term Loan of 1.20% and 7.37% respectively, as at December 28, 2025.

As at December 28, 2025, we had additional liabilities which included provisions for warranty, sales returns, asset retirement obligations, deferred income tax liabilities, the put option liability and the contingent consideration on the Japan Joint Venture. These liabilities have not been included in the table above as the timing and amount of future payments are uncertain.

Letter of guarantee facility

On April 14, 2020, Canada Goose Inc. entered into a letter of guarantee facility in the amount of $10.0m. Within the facility, letters of guarantee are available for terms of up to 12 months from the date of issuance and will be charged a fee equal to 1.0% per annum calculated against the face amount and over the term of the guarantee. Amounts issued on the facility will be used to finance working capital requirements through letters of guarantee, standby letters of credit, performance bonds, counter guarantees, counter standby letters of credit, or similar credits. The Company immediately reimburses the issuing bank for amounts drawn on issued letters of guarantees. As at December 28, 2025, the Company had $9.7m outstanding.

In addition, a subsidiary of the Company in Mainland China entered into letters of guarantee and as at December 28, 2025 the amount outstanding was $15.3m. Amounts will be used to support

Canada Goose Holdings Inc. Page 27 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

retail operations of such subsidiaries through letters of guarantee, standby letters of credit, performance bonds, counter guarantees, counter standby letters of credit, or similar credits.

A subsidiary of the Company in Europe has also entered into a letter of guarantee facility during the quarter. The facility will be used to support retail operations of such subsidiaries through letters of guarantee, standby letters of credit, performance bonds, counter guarantees, counter standby letters of credit, or similar credits. As at December 28, 2025, the Company had no letters of guarantee outstanding.

Credit risk

Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss.

Credit risk arises from the possibility that certain parties will be unable to discharge their obligations. The Company manages its risk through a combination of third-party credit insurance and internal house risk processes. A third-party insurer provides coverage on customers’ trade accounts receivable balances, with ongoing monitoring of customer creditworthiness. This insurance covers a specified portion of revenue, which may be less than the Company's total revenue with a given customer. Under the Company’s agreement with the insurer, approved credit limits are established for certain designated customers and up to 90% of their trade accounts receivable balances are insured. The policy includes a deductible of $0.1m and an annual coverage limit of $30.0m. As at December 28, 2025, approximately $27.4m of trade accounts receivable (December 29, 2024 - $31.6m, March 30, 2025 - $10.7m) were insured subject to the policy cap and customer credit limits. In addition to insurance, the Company mitigates credit risk by establishing payment terms with customers and closely monitoring its accounts receivable exposure. As at December 28, 2025, expected credit losses and sales allowances totalled $16.5m (December 29, 2024 - $2.5m, March 30, 2025 - $2.5m).

Within Japan, the Company has an agreement with a third-party who has insured the risk of trade accounts receivable for certain designated customers for a maximum of JPY540.0m per annum subject to a deductible of 10% and applicable only to accounts with receivables over JPY0.1m. As at December 28, 2025, trade accounts receivable totalling $2.9m (JPY337.2m) were insured subject to the policy cap (December 29, 2024 - $4.1m (JPY444.3m), March 30, 2025 - $0.9m (JPY90.7m)).

Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market prices comprise foreign exchange risk and interest rate risk.

Foreign exchange risk

Foreign exchange risk in operating cash flows

The Company’s Interim Financial Statements are expressed in Canadian dollars, but a substantial portion of the Company’s revenues, purchases, and expenses are denominated in other currencies, principally U.S. dollars, euros, British pounds sterling, Swiss francs, Chinese yuan, Hong Kong dollars, Japanese yen, Taiwanese dollars, and Australian dollars. The Company has entered into forward foreign exchange contracts to reduce the foreign exchange risk associated with revenues, purchases, and expenses denominated in these currencies. Certain forward foreign exchange contracts were designated at inception and accounted for as cash flow hedges.

Canada Goose Holdings Inc. Page 28 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

Revenues and expenses of all foreign operations are translated into Canadian dollars at the foreign currency exchange rates that approximate the rates in effect at the dates when such items are recognized. As a result, we are exposed to foreign currency translation gains and losses. Appreciating foreign currencies relative to the Canadian dollar, to the extent they are not hedged, will positively impact operating income and net income by increasing our revenue, while depreciating foreign currencies relative to the Canadian dollar will have the opposite impact.

The Company recognized the following unrealized gains and losses in the fair value of derivatives designated as cash flow hedges in other comprehensive income:

			Third quarter ended																		Three quarters ended
			December 28, 2025									December 29, 2024									December 28, 2025									December 29, 2024
(in millions of Canadian dollars)			Net gain			Tax expense						Net loss			Tax recovery						Net gain			Tax expense						Net loss			Tax recovery
			$			$						$			$						$			$						$			$
Forward foreign exchange contracts designated as cash flow hedges			0.5			(0.3)						(1.6)			0.1						0.8			(0.5)						(4.1)			0.6

The Company reclassified the following gains from other comprehensive income on derivatives designated as cash flow hedges to locations in the Interim Financial Statements described below:

			Third quarter ended									Three quarters ended
(in millions of Canadian dollars)			December 28, 2025			December 29, 2024						December 28, 2025			December 29, 2024
Gain from other comprehensive income			$			$						$			$
Forward foreign exchange contracts designated as cash flow hedges
Revenue			—			(1.5)						(0.5)			(1.8)
SG&A expenses			—			(0.1)						(0.2)			(0.5)
Inventory			—			(0.3)						(0.3)			(0.7)

For the third and three quarters ended December 28, 2025, unrealized losses of $1.7m and $1.9m, respectively, (third and three quarters ended December 29, 2024 - unrealized losses of $1.1m and $1.7m, respectively) on forward exchange contracts that were not treated as hedges were recognized in SG&A expenses in the interim statements of income (loss).

Canada Goose Holdings Inc. Page 29 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

Foreign currency forward exchange contracts outstanding as at December 28, 2025 related to operating cash flows were:

(in millions)			Aggregate Amounts			Currency
Forward contract to purchase Canadian dollars			USD	53.1		U.S. dollars
			€	43.9		Euros
			¥	1,945.1		Japanese yen
Forward contract to sell Canadian dollars			USD	6.6		U.S. dollars
			€	22.0		Euros
Forward contract to purchase euros			CNY	1,071.9		Chinese yuan
			£	8.4		British pounds sterling
			AUD	6.9		Australian Dollar
			Forward contract to sell euros			£	2.8		British pounds sterling
						AUD	1.9		Australian dollar

Foreign exchange risk on borrowings

The Company enters into derivative transactions to hedge a portion of its exposure to interest rate risk and foreign currency exchange risk related to principal and interest payments on the Term Loan denominated in U.S. dollars.

Following the Amendment to Term Loan on August 21, 2025, the Company entered into cross currency swap agreements terminating on December 31, 2030 to hedge a portion of its exposure to interest rate risk and foreign currency exchange risk. The cross currency swaps involve a periodic exchange of floating rate interest payments in USD, for fixed rate interest payments in CAD. At the hedge maturity date, there will be an exchange of notional principal amounts of USD270.0m for $373.6m. The cross currency swaps are designated and accounted for as cash flow hedges. The previous forward exchange contracts and interest rate swap contracts were terminated due to the debt extinguishment. As a result, the Company received $6.6m in cash for the termination of the foreign exchange forwards and interest rate swaps which were recorded to net interest, finance and other costs in the interim statements of income (loss) during the second quarter ended September 28, 2025.

Refer to "Note 10. Borrowings" for more details on the Amendment to Term Loan.

The Company recognized the following unrealized gains and losses in the fair value of derivatives designated as hedging instruments in other comprehensive income:

			Third quarter ended																		Three quarters ended
			December 28, 2025									December 29, 2024									December 28, 2025									December 29, 2024
(in millions of Canadian dollars)			Net gain			Tax expense						Net gain			Tax expense						Net loss			Tax recovery						Net loss			Tax recovery
			$			$						$			$						$			$						$			$
Swaps designated as cash flow hedges			0.3			(0.1)						0.4			(0.1)						(7.2)			2.4						(6.1)			2.2

Canada Goose Holdings Inc. Page 30 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

The Company reclassified the following losses and gains from other comprehensive income on derivatives designated as hedging instruments to net interest, finance and other costs:

			Third quarter ended									Three quarters ended
(in millions of Canadian dollars)			December 28, 2025			December 29, 2024						December 28, 2025			December 29, 2024
Loss (gain) from other comprehensive income			$			$						$			$
Swaps designated as cash flow hedges			0.6			(0.5)						2.1			(1.3)

For the third and three quarters ended December 28, 2025, unrealized losses of $nil and $10.2m, respectively, (third and three quarters ended December 29, 2024 - unrealized gains of $21.1m and $19.5m, respectively) in the fair value of the long-dated forward exchange contract related to a portion of the Term Loan balance were recognized in net interest, finance and other costs in the interim statements of income (loss).

Interest rate risk

The Company is exposed to interest rate risk related to the effect of interest rate changes on the borrowings outstanding under the Mainland China Facilities, Japan Facility, Revolving Facility, and the Term Loan, which currently bear interest rates at 2.94%, 1.20%, 3.81% and 7.37%, respectively.

Interest rate risk on the Term Loan is partially mitigated by cross currency swap hedges. Refer to "Foreign exchange risk on borrowings" above for more details.

Based on the closing balance of outstanding borrowings, a 1.00% increase in the closing interest rate during the three quarters ended December 28, 2025 would have increased interest expense on the Japan Facility and the Term Loan before hedging by $0.1m and $3.1m, respectively (three quarters ended December 29, 2024 - $0.3m and $3.1m, respectively). In the comparative period, as at the three quarters ended December 29, 2024, along with the Japan Facility and the Term Loan, the Company also had outstanding borrowings on the Mainland China Facilities, for which a 1.00% increase in the closing interest rate would have increased interest expense by $0.2m.

Canada Goose Holdings Inc. Page 31 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

Note 16.    Selected cash flow information

Changes in non-cash operating items

			Third quarter ended									Three quarters ended
(in millions of Canadian dollars)			December 28, 2025			December 29, 2024						December 28, 2025			December 29, 2024
						Reclassified									Reclassified
			$			$						$			$
Trade receivables			(50.6)			(31.8)						(105.5)			(111.3)
Inventories			53.8			56.3						(25.8)			35.3
Other current assets			16.0			12.7						(7.8)			(6.6)
Accounts payable and accrued liabilities			50.9			57.5						76.8			32.6
Provisions			34.2			26.3						37.7			23.2
Other			(1.1)			(2.6)						21.5			6.6
Change in non-cash operating items			103.2			118.4						(3.1)			(20.2)

Changes in liabilities and equity arising from financing activities

			Mainland China Facilities			Japan Facility			Revolving Facility			Term Loan			Lease liabilities			Share capital
			$			$			$			$			$			$
March 30, 2025			—			—			(0.7)			412.0			330.8			109.6
Cash flows:
Japan Facility borrowings			—			11.4			—			—			—			—
Term Loan borrowings			—			—			—			16.6			—			—
Transactions costs on financing activities			—			—			—			(5.7)			—			—
Term Loan OID			—			—			—			(1.0)			—			—
Principal payments on lease liabilities			—			—			—			—			(63.2)			—
Non-cash items:
Amortization of deferred transaction costs			—			—			0.1			0.7			—			—
Unrealized foreign exchange gain			—			—			—			(18.9)			(5.5)			—
Additions and amendments to lease liabilities (note 7)			—			—			—			—			76.3			—
Contributed surplus on share issuances (note 11)			—			—			—			—			—			4.2
December 28, 2025			—			11.4			(0.6)			403.7			338.4			113.8

Canada Goose Holdings Inc. Page 32 of 33

Notes to the Condensed Consolidated Interim Financial Statements

(unaudited)

			Mainland China Facilities			Japan Facility			Revolving Facility			Term Loan			Lease liabilities			Share capital
			$			$			$			$			$			$
March 31, 2024			—			5.4			(1.0)			392.5			330.5			104.9
Cash flows:
Mainland China Facilities borrowings			30.1			—			—			—			—			—
Japan Facility borrowings			—			29.8			—			—			—			—
Term Loan repayments			—			—			—			(2.0)			—			—
Principal payments on lease liabilities			—			—			—			—			(64.1)			—
Issuance of shares			—			—			—			—			—			0.6
Non-cash items:
Amortization of deferred transaction costs			—			—			0.2			0.1			—			—
Unrealized foreign exchange loss			—			—			—			25.2			13.2			—
Additions and amendments to lease liabilities (note 7)			—			—			—			—			71.4			—
Derecognition on termination of lease liabilities (note 7)			—			—			—			—			(1.0)			—
Contributed surplus on share issuances (note 11)			—			—			—			—			—			4.0
December 29, 2024			30.1			35.2			(0.8)			415.8			350.0			109.5

Canada Goose Holdings Inc. Page 33 of 33

FAQ

How did Canada Goose (GOOS) perform in the third quarter ended December 28, 2025?

Canada Goose reported third-quarter revenue of $694.5 million, up from $607.9 million a year earlier. Net income was $138.0 million, slightly below $143.6 million in the prior year, with basic earnings per share of $1.39 versus $1.44.

What were Canada Goose (GOOS) year-to-date results for the three quarters ended December 28, 2025?

For the first three quarters, Canada Goose generated revenue of $1,074.9 million, up from $963.8 million. Despite higher sales, the company recorded a net loss of $4.9 million, compared with net income of $75.9 million in the prior-year period.

How did segment performance contribute to Canada Goose (GOOS) Q3 2025 results?

In the third quarter, Direct-to-Consumer revenue was $591.0 million with operating income of $319.2 million. Wholesale contributed revenue of $88.3 million and operating income of $18.2 million, while Other generated $15.2 million of revenue and a small operating loss of $3.0 million.

What major one-time costs affected Canada Goose (GOOS) in fiscal 2026 to date?

During the first three quarters, Canada Goose recognized a one-time arbitration payment of $43.8 million in selling, general and administrative expenses. It also recorded $15.2 million of remuneration costs tied to an earn-out arrangement related to the Paola Confectii business combination.

How has Canada Goose’s (GOOS) balance sheet evolved as of December 28, 2025?

Total assets were $1,796.6 million and total liabilities $1,216.3 million, resulting in equity of $580.3 million. Cash increased to $346.9 million, while the Term Loan carrying value was $403.7 million and lease liabilities totalled $338.4 million.

What were Canada Goose (GOOS) earnings per share in Q3 2025 and year-to-date?

Third-quarter basic earnings per share were $1.39 and diluted EPS were $1.36, slightly below $1.44 and $1.42 a year earlier. For the first three quarters, basic and diluted loss per share were both $(0.06), versus basic EPS of $0.70 and diluted EPS of $0.69.