Cannae Holdings, Inc. · NYSE:CNNE
Cannae — Investor Presentation (May 2026)
21 slides from Cannae's investor presentation, May 2026
Slide 1: Investor Presentation May 2026
INVESTOR PRESENTATION MAY 2026
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This communication contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our expectations, hopes, beliefs, plans, intentions, or strategies regarding the future are for
Slide 3: Cannae Overview
CANNAE OVERVIEW Cannae (NYSE: CNNE) is a diversified holding company that offers shareholders a unique opportunity to generate returns through owning a diverse portfolio of operating businesses. Cannae is transitioning its portfolio to focus on sports and entertainment-related assets, with the g
Slide 4: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS Sports represent a compelling investment opportunity and Cannae is uniquely positioned to be successful 1 Sports and entertainment related assets represent a compelling investment opportunity, and Cannae is uniquely positioned to maximize returns on these investments Invest
Slide 5: Sports Present a Unique Investment Opportunity
1 SPORTS PRESENT A UNIQUE INVESTMENT OPPORTUNITY Sports Investments Are a Compelling Asset Class with Structural Tailwinds Sports properties are scarce, highly visible assets that continuously generate new content (e.g., games, highlights, interviews, press conferences, storylines, etc.) which can
Slide 6: Cannae Is Uniquely Positioned in Sports Investing
1 CANNAE IS UNIQUELY POSITIONED IN SPORTS INVESTING Differentiated Sourcing Capability Through Proprietary Network Deep relationships across the global sports and entertainment ecosystems provide access to proprietary, off-market investment opportunities Established reputation as a preferred par
Slide 7: Compelling Business Strategy Constructed by a Proven Value Creator
COMPELLING BUSINESS STRATEGY CONSTRUCTED BY A PROVEN 2 VALUE CREATOR William P. Foley II (“Foley”) is a proven value creator as demonstrated by the significant growth in publicly traded companies and $21.9B private enterprises $12.3B(2) $13.0B Foley developed a playbook that $11.3B(1) $4.1B(3) P
Slide 8: Led by Seasoned Management
3 LED BY SEASONED MANAGEMENT… Supported by Strong Leadership at Portfolio Companies TIAGO PINTO President of Football Operations JIM FREVOLA Ryan Caswell Bryan Coy Peter Sadowski Mike Gravelle Alex Ciniello President of Business Chief Executive Officer Chief Financial Officer Chief Legal Officer Gen
Slide 9: Supported by Best-in-Class Board of Directors
3 SUPPORTED BY BEST-IN-CLASS BOARD OF DIRECTORS Expanded Board Focuses on Delivering Shareholder Returns Board comprised of 12 highly qualified members with 4 new board members added over last 12 months Extensive strategic and financial acumen, coupled with proven ability to source and operate p
Slide 10: Proven Playbook to Create Value and Drive Returns
4 PROVEN PLAYBOOK TO CREATE VALUE AND DRIVE RETURNS AFC Bournemouth (AFCB) – Case Study Vegas Golden Knights (VGK)(1) – Case Study Investment Thesis Investment Thesis Exposure to valuable global football ecosystem: Direct ownership in the Premier League with Scarce, expansion-entry into a major
Slide 11: Capital Allocation Strategy Focused on Stock Price and NAV Growth
5 CAPITAL ALLOCATION STRATEGY FOCUSED ON STOCK PRICE AND NAV GROWTH (1) DISCIPLINED SHARE REPURCHASES CAPITAL ALLOCATION Cannae has demonstrated a commitment to share Cannae analyzes capital allocation on an ongoing basis to repurchases to opportunistically acquire shares at a determine what max
Slide 12: Attractive Portfolio with Embedded Upside
6 ATTRACTIVE PORTFOLIO WITH EMBEDDED UPSIDE Illustrative Net Asset Value Cannae owns a portfolio of high-quality assets with $'s in millions except for values per CNNE share (1) # (Non-GAAP) meaningful embedded upside. Current Initial Year Most Recent Per CNNE As part of Cannae’s portfolio trans
Slide 13: Proven Ability to Create Value for Shareholders
7 PROVEN ABILITY TO CREATE VALUE FOR SHAREHOLDERS GOING FORWARD Cannae Investment Monetization Summary(1) $’s billions Since inception, Cannae has $6.7B 1.8x of cumulative net realized proceeds invested capital representing $3.0B of net realized ($1.0B) gains, or 1.8x MOIC Our track record undersc
Slide 14: Appendix
APPENDIX CANNAE HOLDINGS INVESTOR PRESENTATION FEBRUARY 2021 | 14
Slide 15: Company Overview: Black Knight Football Club
COMPANY OVERVIEW CANNAE INVESTMENT SUMMARY 2022 Black Knight Football Club (“Black Knight Football”, “BKFC” ) is a partnership led by William P. Foley II. Since its formation in 2022, BKFC is building a global network of world-class football clubs, players, and real estate Initial Investment Date as
Slide 16: Company Overview: JANA Partners
COMPANY OVERVIEW CANNAE INVESTMENT SUMMARY 2024 • Founded in 2001, JANA Partners ("JANA") is a pioneer and long-standing leader in activist investing, with a core belief that constructive shareholder engagement can unlock value in Initial Investment Date underperforming public companies. • Over its
Slide 17: Company Overview: Watkins
COMPANY OVERVIEW CANNAE INVESTMENT SUMMARY 2024 • The Watkin’s Company, a leading producer of high-quality flavoring products, was founded in 1868 and has grown to be a leading domestic producer of spices, seasonings and extracts. Initial Investment Date • For over 150 years, Watkins and its predece
Slide 18: Company Overview: Minden Mill Distilling
COMPANY OVERVIEW CANNAE INVESTMENT SUMMARY • Minden Mill Distilling (Minden Mill), is an estate distillery in Minden, Nevada. Minden is located in the heart of Carson Valley close to the Nevada-California border. Visitors enjoy easy access to South Lake Tahoe Mountain resorts, hiking trails, casinos
Slide 19: Company Overview: Alight
COMPANY OVERVIEW CANNAE INVESTMENT SUMMARY • Alight (NYSE: ALIT) is a provider of benefits administration and cloud-based HR and financial solutions, that enhance work and life through the company’s service, technology, and data. 2021 Initial Investment Date • The Alight Worklife platform provides a
Slide 20: Company Overview: Restaurant Group
COMPANY OVERVIEW CANNAE INVESTMENT SUMMARY Cannae’s Restaurant Group, headquartered in Nashville, TN, includes two established casual dining restaurant concepts, O ’Charley’s Restaurant + Bar and Ninety Nine Restaurant & Pub 2012 Initial Investment Date In Q1 2026, Cannae announced that it was e
Slide 21: Footnotes to Sum of the Parts
FOOTNOTES TO SUM OF THE PARTS CHART LEGEND: 1) Per share amounts based upon 43.5M Cannae shares outstanding at date noted above. 2) Net Invested Capital represents capital invested less distributions. 3) "Most Recent Mark/Cost" is based on the latest transaction or third-party valuation or net inves