FIVE BELOW Business Summary

Five Below, Inc. (FIVE) operates as a high-growth specialty value retailer utilizing a transaction-based revenue model centered on high-volume sales of trend-right merchandise primarily priced between $1 and $5. The company’s business is organized into three core product segments: Leisure (sporting goods, toys, and electronics), Fashion & Home (personal care, accessories, and home decor), and Party & Snack (confectionery and seasonal goods). A critical growth driver is the "Five Beyond" shop-in-shop format, which offers higher-tier products priced above the traditional $5 ceiling to capture incremental basket size. Positioned as a destination for Gen Alpha and Gen Z consumers, Five Below competes directly with deep-discount chains like Dollar General and Dollar Tree, as well as off-price retailers such as Ross Stores and Burlington, distinguishing itself through a curated, experiential "treasure hunt" environment tailored specifically to the tween and teen demographic. Founded in 2002 by David Schlessinger and Thomas Vellios—the former leadership of Zany Brainy—the company is currently led by Chief Executive Officer Winifred "Winnie" Park, who joined in late 2024 following her tenure as CEO of Forever 21 and Paper Source. The executive team was significantly bolstered in late 2025 with the appointments of Chief Financial Officer Daniel Sullivan, a veteran of Edgewell Personal Care and Party City, and Chief Merchandising Officer Michelle Israel, who brought over 30 years of experience from Macy’s. Long-time executive Kenneth Bull continues to serve as Chief Operating Officer, providing institutional stability. The Board of Directors is chaired by Michael F. Devine III (former CFO of Coach) and includes notable industry figures such as Ronald Sargent (former CEO of Staples) and Mimi Vaughn (CEO of Genesco), reflecting a leadership pedigree deeply rooted in global retail and consumer discretionary operations.