Comstock Holding Companies, Inc. · NASDAQ:CHCI
Comstock Holding Companies — Q2 2026 Earnings Presentation
27 slides from Comstock Holding Companies's earnings presentation, 2026
Slide 1: Q2 2026 Investor Presentation
Q2 2026 INVESTOR PRESENTATION COMSTOCK HOLDING COMPANIES, INC. | Nasdaq : CHCI Nasdaq: CHCI
Slide 2: Disclosures
Disclosures This presentation may include “forward -looking” statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward -looking statements can be identified by use of words such as “anticipate,” “believe,” “estimate,” “may,
Slide 3: Table of Contents
Table of Contents Comstock Overview 4 Visionary Leadership 5 Why Comstock 6-8 Q2 2026 Update 9 Institutional Venture Platform (IVP) 10 Data Center Platform (DCP) 11 Service Offering Expansion – Mall Management 12 Our Managed Portfolio 13-19 ESG: Creating Positive Impacts 20 Supplemental Information
Slide 4: Comstock is a Leading Real Estate Company Specializing in Development, Acquisition, Operation, and Management
Comstock is a Leading Real Estate Company Specializing in the Development, Acquisition, Operation, and Management of Mixed -Use, Transit-Oriented Properties and Data Center Developments ▪ Since 1985, we have developed, acquired, and operated millions of square feet of commercial, residential, and mi
Slide 5: Visionary Leadership
Visionary Leadership Chris Clemente – Chairman and CEO ▪ Founded Comstock (Nasdaq: CHCI) in 1985 ▪ Led acquisition, development, operation, and sale of millions of square feet of residential, commercial, and mixed -use properties ▪ Guided Comstock’s successful transformation from homebuilder to lead
Slide 6: Why Comstock
Why Comstock DYNAMIC & RESILIENT PROVEN SCALABLE GROWTH BUSINESS MODEL EXPERTISE PLATFORM ▪ Fee -based, asset -light, and debt -free platform ▪ Four decades of experience delivering ▪ Predictable revenue streams provide mitigates risk and drives consistent revenue thousands of residential units and
Slide 7: By the Numbers: A Proven Model That Delivers
By the Numbers: REVENUE = 23% CAGR | ADJUSTED EBITDA 31% CAGR A Proven Model That ($ in M) Revenue ($ in M) Adjusted EBITDA Delivers $70 $16.0 $13.4 $14.0 Our platform drives consistent growth, preserves flexibility, $60 and generates cash – all with minimal risk $11.6 $12.0 $50 $10.4 ▪ 2022 Asset M
Slide 8: By the Numbers: A Compelling Investment Opportunity
By the Numbers: CHCI’S Superior Value Proposition A Compelling Investment Opportunity VALUATION 7.4X LTM 6/30/2026 25% As of 6/30/2026 716% 2020 -6/30/2026 Adjusted EBITDA Multiple Net Cash/Market Cap* % Stock Price Increase PEERS 14.2X PEERS -205% PEERS -50% FINANCIAL METRICS $0 As of 6/30/2026 36%
Slide 9: Diversified Revenue Streams Q2 2026 Update
Diversified Revenue Q2 2026 Update Streams QTD YTD $22.6M REVENUE $40.0M REVENUE REVENUE BY (74% GROWTH VS PY) (56 % GROWTH VS PY) LINE OF BUSINESS (YTD) $8.8M NET INCOME * $10.8M NET INCOME * 16% Supplemental fee revenue (512% GROWTH VS PY) (257% GROWTH VS PY) $7.4M ADJUSTED EBITDA $9.5M ADJUSTED E
Slide 10: CHCI's Institutional Venture Platform
CHCI's Institutional Venture Platform: Institutional-Quality Assets Operated by Institutional -Quality Teams Our Institutional Venture Platform ("IVP") is designed to pair Comstock's operational expertise with the capital resources of our institutional partners to co -invest in real estate opportuni
Slide 11: CHCI's Data Center Platform: Accelerating Growth Potential Through Strategic Partnerships
CHCI's Data Center Platform: Accelerating Growth Potential Through Strategic Partnerships We recently announced the launch of our Data Center Platform ("DCP") , a logical expansion of our Institutional Venture Platform that focuses on low -risk, high -reward joint venture opportunities in one of the
Slide 12: CHCI Expands Service Offerings to Include Mall Management
Experience Matters: CHCI Expands Service Offerings to Include Mall Management We recently announced our latest service offering expansion as we assumed management of Dulles Town Center, a 1.4 million -square -foot regional shopping mall located in Dulles, Virginia. Located near Dulles International
Slide 13: Our Managed Portfolio
Our Managed Portfolio DRIVING NEAR -TERM AND LONG -TERM GROWTH AT FULL BUILD -OUT 108 COMMERCIAL RESIDENTIAL HOSPITALITY PARKX 119 18 Operating Assets 9 Operating Assets 1 JW Marriott 2 Starbucks 36 Garages, 42 Security and Managed OPERATING 4.2M SF 2,500+ units, 2.9M SF Hotel Locations 27K Spaces O
Slide 14: Flight-To-Quality: The Demand for Trophy-Class Office Space in Reston Station
Flight -To-Quality: The Demand for Trophy -Class Office Space in Reston Station 1800 Reston Row Plaza 1870 Reston Row Plaza In Q425, we finalized multiple new office leases with Booz Allen Hamilton that cover more than 310,000 sqft. across 1800 and 1870 Reston Row Plaza, our newest Trophy - class to
Slide 15: Flight-to-Quality: Attracting Premier Tenants and Partners
Flight -to-Quality: Attracting Premier Tenants and Partners MAJOR OFFICE TENANTS MAJOR RETAIL LEASES STRATEGIC PARTNERS Nasdaq: CHCI 15
Slide 16: Premium Assets. Proven Results.
Premium Assets. Proven Results. AUM FINANCIAL PERFORMANCE 2020 Change LTM 6/30/26 REVENUE $52M +215% $164M NOI $22M +209% $68M COMMERCIAL 2020 Change Q2 2026 SQFT 1.8M +132% 4.2M LEASED % 79% +13% 92% RESIDENTIAL 2020 Change Q2 2026 # UNITS 1,123 +129% 2,567 LEASED % 73% +21% 94%* HOSPITALITY 2020 C
Slide 17: At a Glance: Our Managed Portfolio
At a Glance : Our Managed Portfolio Two of the largest and most prominent mixed -use, transit-oriented developments in the Mid -Atlantic region, including legacy ANCHOR PORTFOLIO assets owned by Comstock Partners that CHCI develops, manages, and operates RESTON STATION LOUDOUN STATION 90 acres Size
Slide 18: At a Glance: Our Managed Portfolio
At a Glance : Our Managed Portfolio INVESTMENT ASSETS Properties that are partially or wholly -owned by CHCI, and for which CHCI provides various real estate services THE HARTFORD BLVD FORTY FOUR BLVD ANSEL COMSTOCK 41* THE REED WOODLAND POINTE *Image represents rendering of planned future affordabl
Slide 19: At a Glance: Our Managed Portfolio
At a Glance : Our Managed Portfolio DEVELOPMENT PIPELINE Building for the future, one phase at a time NAME LOCATION ASSET CLASS TOTAL GSF UNITS DELIVERY DATE DEVELOPMENT PIPELINE Herndon, Va. WOODLAND POINTE Bldg. II Office (Build -to-suit) 98,800 N/A 2027 (Dulles Technology Corridor ) ONE GRAMERCY
Slide 20: ESG: Creating Positive Impacts
ESG: Creating Positive Impacts We recognize that development of real estate can have significant impact, positive or negative, for the surrounding community , the region, and the environment that we all share. Supporting and fostering these initiatives in a rational way is instrumental in making our
Slide 21: 1900 Reston Metro Plaza, Reston, VA
1900 Reston Metro Plaza, Reston, VA 20190 703.230.1985 comstock.com | investorrelations@comstock.com Nasdaq: CHCI Nasdaq: CHCI 21
Slide 22: Supplemental Information
SUPPLEMENTAL INFORMATION Nasdaq: CHCI 22
Slide 23: Leadership Team
Leadership Team COMBINING LOCAL EXPERTISE WITH INDUSTRY EXPERIENCE CHRIS CLEMENTE EXECUTIVE COMMITTEE CEO & Chairman of CHCI TIMOTHY STEFFAN CHRISTOPHER GUTHRIE ROBERT DEMCHAK TRACY SCHAR JOHN HARRISON PAUL SCHWARTZ Significant Shareholder of CHCI Chief Operating Officer CFO & EVP General Counsel &
Slide 24: Board of Directors
Board of Directors CHRIS CLEMENTE DAVID GUERNSEY TOM HOLLY Chairman of the Board of Directors Director Director & Chief Executive Officer Compensation Committee Chair Audit Committee Member Nom. & Gov. Committee Member JAMES MACCUTCHEON DAVID PAUL DAVID HIRSH Director Director Director Audit Committ
Slide 25: Corporate Structure Overview
Corporate Structure Overview CHRISTOPHER Executive DWIGHT Public CLEMENTE Management Team SCHAR Shareholders Chairman and CEO and BOD Strategic Advisor 30% 5% 36% 29% Comstock Holding Companies, Inc. (Nasdaq: CHCI) 50% 50% Asset Management and Property Management Fees Comstock Partners LC (Owner of
Slide 26: Our Services
CUSTOMERS ASSET TYPES SERVICES ▪ Institutional Real Estate ▪ Office ▪ Asset Management Investors ▪ Multifamily ▪ Property Management ▪ HNW Family Offices ▪ Retail ▪ Construction Management Our ▪ Real Estate Owners ▪ Hotel ▪ Development ▪ Parking Management ▪ Financial Institutions Services ▪ Governm
Slide 27: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non -GAAP Financial Measures (UNAUDITED) ($ in thousands) June 30, 2026 Year Ended December 31, QTD YTD 2025 2024 2023 2022 2021 2020 Net income (loss) 8,845 10,834 17,051 14,560 7,784 7,728 16,039 2,141 Interest (income) expense (68) (197) (807) (672) (96) 222 235 344 Income taxes
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