OneWater Marine Inc.

OneWater Marine Inc. ( OneWater Inc. ) is a holding company and the sole managing member of One Water Marine Holdings, LLC ( OneWater LLC ), which became the principal operating subsidiary of OneWater Inc. on February 11, 2020 in the corporate reorganization (the Reorganization ) completed in connection with OneWater Inc.’s initial public offering (the IPO ), which closed on February 11, 2020. Except as otherwise indicated or required by the context, all references in this Annual Report on Form 10-K to the Company, OneWater, we, us or our relate to OneWater Inc. and its consolidated subsidiaries. Overview We believe that we are one of the largest and fastest-growing marine retailers in the United States with 95 dealership locations, 9 distribution centers/warehouses and multiple online marketplaces as of September 30, 2025. Our retail locations are located in highly attractive markets throughout the Southeast, Gulf Coast, Mid-Atlantic and Northeast, many of which are in the top twenty states for marine retail expenditures. We believe that we are a market leader by volume in sales of premium boats in many of the markets in which we operate. Additionally, the acquisitions of T-H Marine Supplies, LLC ( T-H Marine ) and Ocean Bio-Chem, LLC (f/k/a Ocean Bio-Chem, Inc. ("Ocean Bio-Chem")) significantly expanded our sales of marine-related parts and accessories.