Bowlero Corp

BOWLERO CORP.

Notes to Consolidated Financial Statements

(Amounts in thousands, except share amounts or otherwise noted)

(1)Description of Business

Bowlero Corp., a Delaware corporation, together with its subsidiaries (collectively, the “Company”) is one of the world’s premier operators of location-based entertainment.

The Company operates location-based entertainment venues under different brand names. Our AMF and Bowl America branded locations are traditional bowling locations, while the Bowlero and Lucky Strike branded locations offer a more upscale entertainment concept with lounge seating, enhanced food and beverage offerings, and more robust customer service for individuals and group events. Additionally, within the brands, there exists a spectrum where some AMF branded locations are more upscale and some Bowlero branded locations are more traditional. The Company also operates other forms of location-based entertainment, such as Octane Raceway and Raging Waves water park. All of our locations are managed in a fully integrated and consistent basis since all of our locations are in the same business of operating location-based entertainment. The following summarizes the Company’s locations by country and major brand as of the fiscal year ended June 30, 2024.

Segment Information

The Company hasone operating segment, which consists of operating a location-based entertainment business. Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief executive officer (“CEO”), who is the chief operating decision maker (“CODM”) in making decisions regarding resource allocation and assessing performance. Management continually assesses the Company’s operating structure, and this structure could be modified based on future circumstances and business conditions. Our CODM assesses performance based on consolidated as well as location-level revenue and operating profit.

The Company attributes revenue to individual countries based on the Company’s entertainment venue locations. The Company’s entertainment venues are located in the United States, Mexico, and Canada. The Company’s revenues generated outside of the United States for fiscal years 2024, 2023 and 2022 were not material. The Company’s long-lived assets located in Mexico and Canada are not material.