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Winnebago Industries completes acquisition of Barletta Pontoon Boats

EDEN PRAIRIE, MN – Winnebago Industries, Inc. (NYSE: WGO), a leading outdoor lifestyle product manufacturer, today announced that it has completed its previously announced acquisition of Barletta Pontoon Boats (“Barletta”), the industry’s fastest-growing, premium pontoon boat manufacturer. Consideration paid included $255 million in cash and Winnebago Industries shares. Winnebago Industries will pay an additional $15 million in Winnebago Industries shares, contingent upon Barletta’s achievement of performance milestones at the end of calendar 2021. As previously announced, certain growth objectives, if achieved through calendar years 2022 and 2023, provide the opportunity for up to $50 million in additional cash consideration.

“This acquisition of Barletta extends Winnebago Industries’ marine platform into one of the fastest-growing boating segments, advances our ongoing evolution into a premier outdoor lifestyle company, and is expected to drive significant financial accretion,” commented Michael Happe, Winnebago Industries President and Chief Executive Officer. “Barletta’s commitment to quality, innovation and service in addition to their strong dealer relationships has allowed them to become the fastest growing pontoon boat manufacturer in the industry and makes them a natural fit into our portfolio. We are excited to work with the talented Barletta team and their high-quality dealer partners to bring our now extended portfolio of premium products to families looking to create great outdoor experiences on land or on water and drive new growth opportunities and significant value creation for our employees and shareholders.”

Lazard acted as the exclusive financial advisor to Winnebago Industries and Faegre Drinker Biddle & Reath LLP served as legal advisor.

Winnebago Industries, Inc. (NYSE: WGO) is a leading North American manufacturer of outdoor lifestyle products under the Winnebago, Grand Design, Chris-Craft, Newmar and Barletta brands, which are used primarily in leisure travel and outdoor recreation activities. The Company builds quality motorhomes, travel trailers, fifth wheel products, boats and commercial community outreach vehicles. Winnebago Industries has multiple facilities in Iowa, Indiana, Minnesota and Florida. For access to Winnebago Industries’ investor relations material or to add your name to an automatic email list for Company news releases, visit http://investor.wgo.net.

Headquartered in Bristol, Indiana, Barletta Pontoon Boats is a premium pontoon boat manufacturer whose focus on high-quality, innovative products, unrivaled customer experience and strong dealer relationships have propelled its rapid growth since it was founded in 2017. Today, Barletta is the fastest-growing company in the pontoon segment with over 300 dedicated employees and an expansive network of dealer partners across the United States and Canada. Visit barlettapontoonboats.com for more information.

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