Canada Goose Reports Results for Fiscal Year 2018

Canada Goose Holdings Inc. (“Canada Goose” or the “Company”) (NYSE:GOOS,
TSX:GOOS) today announced financial results for its fourth quarter and
fiscal year ended March 31, 2018. The Annual Report, including
Management’s Discussion and Analysis and Audited Consolidated Financial
Statements, will be filed on SEDAR at www.sedar.com
and the EDGAR section of the U.S. Securities and Exchange Commission
website at www.sec.gov
and posted on the Company’s web site at investor.canadagoose.com.

“Our execution in fiscal 2018 was exceptional across all growth
strategies and key metrics. These results reinforce my belief that we
are still just scratching the surface of our global potential. As we
continue to bring more Canada Goose to more of the world, we are
resolutely focused on the long term and what we need to get there.
Fiscal 2019 will be another exciting year, as we make significant
strategic investments in infrastructure and people to support our
foundation for enduring growth,” stated Dani Reiss, President & Chief
Executive Officer.

Fiscal 2018 Results (in Canadian dollars, compared to Fiscal 2017):

Fiscal 2019 and Long-Term Outlook

For fiscal 2019, the Company currently expects the following:

Key assumptions underlying the fiscal 2019 outlook above are as follows:

Over the next three fiscal years, the Company currently expects the

The long-term outlook assumes, among other things, a continuation of
current economic conditions and execution of the growth strategies
outlined under the heading “Business Overview” in our Annual Report on
Form 20-F for the fiscal year ended March 31, 2018.

The fiscal 2019 and long-term outlooks above constitute forward-looking
information within the meaning of applicable securities laws. Actual
results could vary materially as a result of numerous factors, including
certain risk factors, many of which are beyond the Company’s control.

Conference Call Information

A conference call to discuss fiscal 2018 results is scheduled for today,
June 15, 2018, at 9:00 a.m. Eastern Time. Dani Reiss, President and
Chief Executive Officer and John Black, Chief Financial Officer, will
host the conference call. Those interested in participating in the call
are invited to dial (844) 579-6824 or (763) 488-9145 if calling
internationally. Please dial in approximately 10 minutes prior to the
start of the call and reference Conference ID 3978937 when prompted. A
live audio webcast of the conference call will be available online at http://investor.canadagoose.com.

About Canada Goose

Founded in a small warehouse in Toronto, Canada in 1957, Canada Goose
has grown into one of the world’s leading makers of performance luxury
apparel. Every collection is informed by the rugged demands of the
Arctic and inspired by relentless innovation and uncompromised
craftsmanship. From Antarctic research facilities and the Canadian High
Arctic, to the streets of New York, London, Milan, Paris, and Tokyo,
people are proud to wear Canada Goose products. Employing more than
2,700 people worldwide, Canada Goose is a recognized leader for its Made
in Canada commitment, and is a long-time partner of Polar Bears
International. Visit canadagoose.com for
more information.

Note Regarding Non-IFRS Financial Measures

This press release includes references to constant currency revenue,
adjusted net income, EBITDA, adjusted EBITDA, adjusted EBITDA margin and
adjusted net income per share and per diluted share. The Company
presents these measures because its management uses these as
supplemental measures in assessing its operating performance, and
believes they are helpful to investors, securities analysts and other
interested parties, in evaluating the Company’s performance. The
measures referenced above are not measurements of financial performance
under IFRS and they should not be considered as alternatives to measures
of performance derived in accordance with IFRS. In addition, these
measures should not be construed as an inference that the Company’s
future results will be unaffected by unusual or non-recurring items.
These measures have limitations as analytical tools, and you should not
consider such measures either in isolation or as substitutes for
analyzing the Company’s results as reported under IFRS. The Company’s
definitions and calculations of these measures are not necessarily
comparable to other similarly titled measures used by other companies.
These non-IFRS financial measures are defined and reconciled to the most
comparable IFRS measures in the tables at the end of this press release.

A reconciliation of projected adjusted EBITDA and adjusted net income,
which are forward-looking measures that are not prepared in accordance
with IFRS, to the most directly comparable IFRS financial measures, is
not provided because we are unable to provide such reconciliation
without unreasonable effort. The inability to provide a quantitative
reconciliation is due to the uncertainty and inherent difficulty
predicting the occurrence, the financial impact and the periods in which
the components of the applicable IFRS measures and non-IFRS adjustments
may be recognized. The IFRS measures may include the impact of such
items as non-cash share-based compensation, revaluation of the carrying
value of our indebtedness, amortization of intangible assets and the tax
effect of such items, in addition to other items we have historically
excluded from adjusted EBITDA and adjusted net income. We expect to
continue to exclude these items in future disclosures of these non-IFRS
measures and may also exclude other similar items that may arise in the
future (collectively, “non-IFRS adjustments”). The decisions and events
that typically lead to the recognition of non-IFRS adjustments are
inherently unpredictable as to if or when they may occur. As such, for
our fiscal 2019 and long-term outlooks, we have not included estimates
for these items and are unable to address the probable significance of
the unavailable information, which could be material to future results.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements. These
forward-looking statements generally can be identified by the use of
words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,”
“believe,” “estimate,” “forecast,” “goal,” “project,” and other words of
similar meaning. These forward-looking statements address various
matters including our outlook for fiscal 2019 and our long-term outlook,
related assumptions, and our plans for strategic investments to support
future growth. Each forward-looking statement contained in this press
release is subject to risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by such
statement. Applicable risks and uncertainties include, among others, our
expectations regarding industry trends, our business plan and growth
strategies, our expectations regarding seasonal trends, our inventory
levels ahead of these seasonal trends, our ability to implement our
growth strategies, our ability to leverage our ability to keep pace with
changing consumer preferences, our ability to maintain the strength of
our brand and protect our intellectual property, as well as the risks
identified under the heading “Risk Factors” in our Annual Report on Form
20-F for the fiscal year ended March 31, 2018, and filed with the
Securities and Exchange Commission (“SEC”), and the securities
commissions or similar securities regulatory authorities in each of the
provinces and territories of Canada (“Canadian securities regulatory
authorities”), as well as the other information we file with the SEC and
Canadian securities regulatory authorities. We caution investors not to
rely on the forward-looking statements contained in this press release
when making an investment decision in our securities. You are encouraged
to read our filings with the SEC, available at www.sec.gov,
and our filings with Canadian securities regulatory authorities
available at www.sedar.com
for a discussion of these and other risks and uncertainties. The
forward-looking statements in this press release speak only as of the
date of this release, and we undertake no obligation to update or revise
any of these statements. Our business is subject to substantial risks
and uncertainties, including those referenced above. Investors,
potential investors, and others should give careful consideration to
these risks and uncertainties.

(1) EBITDA, adjusted EBITDA, adjusted EBITDA
margin, adjusted net income, and adjusted net income per share and per
diluted share, are non-IFRS financial measures. See – “Reconciliation
of Non-IFRS Financial Measures” for a description of these measures and
a reconciliation to the nearest IFRS measure.

Reconciliation of Non-IFRS Measures

The tables below reconcile net income to EBITDA, adjusted EBITDA, and
adjusted net income for the periods presented:



(a) In connection with Bain’s purchase of a 70% equity interest in our
business on December 9, 2013 (the “Acquisition”), we entered into a
management agreement with certain affiliates of Bain Capital for a term
of five years (“Management Agreement”). This amount represents payments
made pursuant to the Management Agreement for ongoing consulting and
other services. In connection with the IPO on March 21, 2017, the
Management Agreement was terminated in consideration for a termination
fee of $9.6 million and Bain Capital no longer receives management fees
from the Company.

(b) In connection with the IPO in March 2017 and Secondary Offering in
July 2017, we incurred expenses related to professional fees,
consulting, legal, and accounting that would otherwise not have been
incurred. These fees are reflected in the table above, and do not
reflect expected future operating expenses after completion of these

(c) Represents non-cash unrealized gains on foreign exchange forward
contracts recorded in fiscal 2016 that relate to fiscal 2017. We manage
our exposure to foreign currency risk by entering into foreign exchange
forward contracts. Management forecasts its net cash flows in foreign
currency using expected revenue from orders it receives for future
periods. The unrealized gains and losses on these contracts are
recognized in net income from the date of inception of the contract,
while the cash flows to which the derivatives related are not realized
until the contract settles. Management believes that reflecting these
adjustments in the period in which the net cash flows occur is more

(d) Represents non-cash unrealized gains and losses on the translation
of the Term Loan Facility from USD to CAD, net of the effect of
derivative transactions entered into to hedge a portion of the exposure
to foreign currency exchange risk.

(e) Represents expenses incurred to establish our international
headquarters in Zug, Switzerland, including closing several smaller
offices across Europe, relocating personnel, and incurring temporary
office costs.

(f) Represents non-cash share-based compensation expense on stock
options issued prior to the IPO under our pre-IPO stock option plan.

(g) Represents non-cash lease amortization charges during pre-opening
periods for new store leases.

(h) As a result of the Acquisition, we recognized an intangible asset
for customer lists in the amount of $8.7 million, which had a useful
life of four years and has been fully amortized in the third quarter of
fiscal 2018.

(i) We partially repaid the Term Loan Facility using a portion of the
proceeds of the IPO, which resulted in a change to our prospective
underlying interest rate and caused a remeasurement of the carrying
value of the debt by calculating the net present value using the revised
estimated cash flows for both the repayment and change in interest rate
and original effective interest rate. The result was a non-cash gain of
$5.9 million recorded in net interest and other finance costs.

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