1. Presented By Nathan Pearce

2. Purpose of Presentation Diversity, Uniqueness, and Aggressive Marketing are imperative to the growth and success of a business competing for discretionary funds. Cabela’s® has utilized this approach to be a leader in the outdoor sporting goods market.

3. History of Cabela’s® Founded in 1961 by Richard (Dick) Cabela. 1963 Jim Cabela joins business 1987 – First Retail Store in Kearney, NB. 1988 – Online store started 2004 - Company became publicly traded on New York Stock Exchange 2009 – Thomas Milner joins company as President/CEO

4. Introduction One of the World’s Largest Direct Marketers of Hunting, Fishing, Camping, and Outdoor Merchandise 30 Retail Stores in 22 States and 1 in Canada Recognized as the “World’s Foremost Outfitter®” Known as the Disneyland of Outdoors Sports Stores –Theme Stores range from 35,000 to 247,000 square feet. Attract over 4 million visitors per year to some of their stores. It is estimated that 50% drive over 100 miles to visit.

5. Unique Stores Destination Stores – Each Store has its’ own theme Product Line for each store varies based on geographic location and customer preference Educational and Entertainment Attractions Growth Centers for the area they are constructed in.

6. Uniqueness

7. Cabela’s Core Values Superior Customer Service Integrity and Honesty Quality Products and Services Respect for Individuals Excellence in Performance

8. Primary Competitors

9. Total Revenue for 2001-2010 in Billions

10. Financial Highlights Year201020092008 Total Revenue$2.67 Bil.$2.63 Bil.$2.56 Bil. Gross Profit$1.09 Bil$1.03 Bil.$1.02 Bil. Gross Profit Margin40.8%39.1%39.8% Net Income$121 Mil.$92 Mil.$83 Mil. The company continued to make a profit even during poor economic years.

11. Cabela’s Quarterly Stock History

12. Cabela’s Revenues are Derived from 4 Areas  Retail Store Sales  Direct Market Sales a)Catalog b)Internet  Financial a)World’s Foremost Bank b)Cabela’s Club Visa card  Other a)Outdoor Adventures b)Trophy Properties LLC c)Gun Library d)TV and Video Contracts

13. Sources of Revenue Retail 53% Direct 37% Financial 9% Other 1%

14. 2010 Merchandising Mix Hunting Gear and Equipment 40% Clothing /Footwear 28% Fishing and Marine 13% Camping Equipment 10% Gifts and Furnishing 9%

15. Cabela’s Strategic Focus Focus On The Customer Improve Merchandise Performance Retail Profitability Retail Expansion Direct Channel Growth Grow Cabela’s CLUB Visa Program

16. Summary Cabela’s has shown growth is possible in discretionary markets even during a bad economy. Unique stores and products, diversity in business segments, and aggressive marketing all contribute to growth and sustainability in the discretionary market.

17. Any Questions?