Comstock Holding Companies, Inc. · NASDAQ:CHCI
Comstock Holding Companies — Investor Presentation (November 2025)
24 slides from Comstock Holding Companies's investor presentation, November 2025
Slide 1: Q3 2025 Investor Presentation
Q3 2025 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 Q3 2025 Update 9 Recent Highlights 10 Our Managed Portfolio 11-16 ESG: Creating Positive Impacts 17 Supplemental Information Leadership and Board 20 -21 Corporate Structure Overview 22 Our Services 23 Reconciliation of Non
Slide 4: Premier Commercial Developer and Real Estate Services Provider in the Washington, D.C. Region
Comstock is the Premier Commercial Developer and Real Estate Services Provider in the Washington, D.C. Region ▪ Leading asset manager, developer, and operator of mixed -use and We deliver a comprehensive suite of real estate services transit-oriented properties through long -term management agreemen
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 that mitigates risk and drives consistent thousands of residential units and mil
Slide 7: By the Numbers: A Proven Model That Delivers
By the Numbers: REVENUE = 23% CAGR | ADJUSTED EBITDA 35% CAGR A Proven Model That Delivers ($ in M) Revenue $60 ($ in M) Adjusted EBITDA $14.0 Our platform drives consistent growth, preserves flexibility, and generates cash – all with minimal risk $11.6 $12.0 $50 Projected $10.4 Q425 ▪ Long -term 20
Slide 8: By the Numbers: A Compelling Investment Opportunity
By the Numbers: DELIVERING SUPERIOR VALUE A Compelling Investment Opportunity VALUATION 10.7X LTM 9/30/2025 2.5X 615% 2020 -9/30/2025 Ratio: Stock price/ Adjusted EBITDA Multiple Book Value % Stock Price Increase PEERS 17.8X PEERS 2.1X PEERS -38% FINANCIAL METRICS $0 As of 9/30/2025 26% LTM 9/30/202
Slide 9: Diversified Revenue Streams Q3 2025 Update
Diversified Revenue Q3 2025 Update Streams QTD YTD REVENUE BY $13.3M REVENUE $38.9M REVENUE (3% GROWTH VS PY) (13% GROWTH VS PY) LINE OF BUSINESS (YTD) Supplemental fee revenue $0.5M NET INCOME $3.5M NET INCOME 6% $1.1MADJUSTED EBITDA $5.3M ADJUSTED EBITDA 25% 91 AUM | (26% GROWTH VS PY) 47% ▪ Stabi
Slide 10: Case Study: Demand for Trophy-class Office Space in Reston Station
Case Study: The Demand for Trophy -class Office Space in Reston Station We recently f inalized multiple new office leases that will cover more than 310,000 sqft. across 1800 and 1870 Reston Row Plaza, our newest Trophy -class towers located in The Row at Reston Station. With these new leases, 1870 R
Slide 11: Our Managed Portfolio
Our Managed Portfolio DRIVING NEAR -TERM AND LONG -TERM GROWTH AT FULL BUILD -OUT 91 COMMERCIAL 14 Operating Assets RESIDENTIAL 7 Operating Assets HOSPITALITY 1 JW Marriott 32 Garages, PARKX 37 Security and OPERATING ASSETS 2.3M SF 1,700+ units, 2.0M SF Hotel 290K SF, 248 keys 24K Spaces Other Locat
Slide 12: Premium Assets. Proven Results.
Premium Assets. Proven Results. AUM FINANCIAL PERFORMANCE 2020 % Increase LTM 9/30/25 REVENUE $52M 158% $134M NOI $22M 245% $76M RESIDENTIAL 2020 % Increase Q3 2025 # UNITS 1,123 54% 1,732 LEASED % 73% 23% 96% COMMERCIAL 2020 % Increase Q3 2025 SQFT 1.8M 28% 2.3M LEASED % 79% 14% 93% * PARKX 2020 %
Slide 13: Flight-to-Quality Attracting Premier Tenants and Partners
Flight -to-Quality Attracting Premier Tenants and Partners MAJOR OFFICE TENANTS MAJOR RETAIL LEASES 0 STRATEGIC PARTNERS NASDAQ: CHCI 13
Slide 14: At a Glance: Our Managed Portfolio (Anchor Portfolio)
At a Glance : Our Managed Portfolio Two of the largest and most prominent mixed -use, transit-oriented developments in the Mid -Atlantic region; include legacy assets ANCHOR PORTFOLIO owned by Comstock Partners that CHCI develops, manages, and operates RESTON STATION LOUDOUN STATION 90 acres Size 50
Slide 15: At a Glance: Our Managed Portfolio (Investment Assets)
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* *Image represents rendering of planned future affordable housing development tha
Slide 16: Under Construction & Development Pipeline
At a Glance : Our Managed Portfolio UNDER CONSTUCTION & DEVELOPMENT PIPELINE NAME LOCATION ASSET CLASS TOTAL GSF UNITS DELIVERY DATE UNDER CONSTRUCTION BLVD HALEY Reston Station Multifamily/Retail 427,000 419 2025 TWO RESTON ROW Reston Station Office 254,000 N/A 2025 JEWEL BOX Reston Station Retail
Slide 17: 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 18: Contact Information
1900 Reston Metro Plaza, Reston, VA 20190 703.230.1985 comstock.com | investorrelations@comstock.com NASDAQ: CHCI NASDAQ: CHCI 18
Slide 19: Supplemental Information
SUPPLEMENTAL INFORMATION NASDAQ: CHCI 19
Slide 20: 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 21: 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 JAMES MACCUTCHEON DAVID PAUL ROBERT PINCUS Director Director Director Audit Committee Chair, Compensation Comp
Slide 22: Corporate Structure Overview
Corporate Structure Overview CHRISTOPHER Executive DWIGHT Public CLEMENTE Management Team SCHAR Shareholders CEO and Chairman and BOD via Private Entity 30% 6% 35% 29% Comstock Holding Companies, Inc. (NASDAQ: CHCI ) 50% 50% Asset Management and Property Management Fees Comstock Partners LC (Owner o
Slide 23: 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 Services ▪ Financial Institutions ▪ Commercial Garages ▪ Parking
Slide 24: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non -GAAP Financial Measures (UNAUDITED) ($ in thousands) September 30, 2025 Year Ended December 31, QTD YTD 2024 2023 2022 2021 2020 Net income from continuing operations 541 3,576 14,560 7,784 7,728 16,039 2,141 Interest (income) expense (218) (622) (672) (96) 222 235 344 Income
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