RCI HOSPITALITY HOLDINGS, INC.

RCI Hospitality Holdings, Inc. is a holding company that, through its subsidiaries, engages in businesses that offer live adult entertainment and/or high-quality dining experiences to its guests. Our subsidiaries operated 71 establishments in 15 states as of September 30, 2025, including one club that was temporarily closed due to fire damage and one for rebranding. Together with its subsidiaries, RCI Hospitality Holdings, Inc. is collectively referred to as RCIHH, "RCI," the Company, we, us, or our in this report. We also operate a leading business communications company serving the multibillion-dollar adult nightclubs industry. RCIHH was incorporated in the State of Texas in 1994 and became public in 1995. Our fiscal year ends on September 30. References to years 2025, 2024, and 2023 are for fiscal years ended September 30, 2025, 2024, and 2023, respectively. Our fiscal quarters chronologically end on December 31, March 31, June 30 and September 30. OUR BUSINESS Our subsidiaries operate several businesses, which we aggregate for financial reporting purposes into two reportable segments Nightclubs and Bombshells. Businesses that are not included as Nightclubs or Bombshells are combined as Other. We adopted Accounting Standards Update 2023-07, Segment Reporting , as of September 30, 2025. Segment-related disclosures, except for those in Note 4 to our consolidated financial statements, relate to amounts exclusive of intersegment items.