Gpgi, Inc. · NYSE:GPGI
Gpgi — CompoSecure — Merger or Acquisition (November 2025)
54 slides from Gpgi's merger presentation, Nov 3, 2025
Slide 1: CompoSecure, Inc. + Husky Technologies
Investor Presentation November 3, 2025 CompoSecure, Inc. + Husky Technologies
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer 2 Forward-Looking Statements This presentation includes “forward looking statements.” Forward-looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” “pro forma” and “project
Slide 3: Disclaimer: No Offer or Solicitation
Disclaimer 3 No Offer or Solicitation This presentation is for informational purposes only and does not constitute an offer to sell or purchase, or a solicitation of an offer to sell, buy or subscribe for, any securities in any jurisdiction, or a solicitation of any proxy, vote, consent or approval
Slide 4: Table of Contents
4 Table of Contents I Overview 5 II Segment 1: CompoSecure 15 III Segment 2: Husky 25 IV Appendix: Pro Forma Supplement 34 VI Appendix: Husky Supplement 43 V Appendix: CompoSecure Supplement 37
Slide 5: I. Overview
Il. Overview ®CompoSecure
Slide 6: Source: FactSet, market data as of 26-Sep-2025. 1. The David Cote Family’s investment made
6 Source: FactSet, market data as of 26-Sep-2025. 1. The David Cote Family’s investment made through Resolute Compo Holdings LLC. Dave Cote and Tom Knott lead Resolute Compo Holdings LLC. 2. Based on latest closing share price for CMPO, as of 26-Sep-2025. 3. To be provided with 3Q25 earnings release
Slide 7: Source: FactSet, market data as of 26-Sep-2025. For the period from 01-Jan-2003 to 18-Apr-2018.
7 Source: FactSet, market data as of 26-Sep-2025. 1 For the period from 01-Jan-2003 to 18-Apr-2018. 2 For the period from 10-Dec-2019 to 26-Sep-2025; Vertiv share price adjusted to $10.00 per share pre-announcement. 3 For the period from 15-Oct-2021 (last day of MIR trading at $10.00 prior to transa
Slide 8: First Combination: Husky Technologies
8 Source: FactSet, market data as of 26-Sep-2025; Resolute analysis. 1. Net Adjusted EBITDA is calculated assuming full year of management fee to RHLD. Management fee will only be paid for periods following closing of the combination (estimated 1Q26). Free cash flow yield is defined as free cash flo
Slide 9: Framing the Investment Opportunity Today & Over Time
9 Framing the Investment Opportunity Today & Over Time Great Businesses at Attractive Valuations – Significant Improvements Identified Source: Commercial market study; FactSet, market data as of 26-Sep-2025; Resolute analysis. 1. The David Cote Family’s investment made through Resolute Compo Holding
Slide 10: Pro Forma Company Details
10 Pro Forma Company Details Source: Commercial market study; CompoSecure and Husky data; Resolute analysis. 1. Preliminary financial numbers subject to be refined for public investors following ongoing diligence. 2. Pro forma Adj. EBITDA includes Husky Adjusted EBITDA, CompoSecure Adjusted EBITDA,
Slide 11: Large, Structurally Growing, and Resilient End Markets
11 Large, Structurally Growing, and Resilient End Markets Consolidated Company Positioned to Grow at M-HSD Source: Commercial market study; CompoSecure and Husky data. End Market % of 2026E PF Revenue Forecasted Market Growth Key Growth Drivers Industry fundamentals are highly supportive of durable
Slide 12: Pro Forma Historical and Projected Financials
12 Pro Forma Historical and Projected Financials Pro Forma Adj. Revenue ($mn) Pro Forma Net Adj. EBITDA2 ($mn) Pro Forma Cash Conversion4 Pro Forma Net Adj. EBITDA Less Capex4 ($mn) Self-inflicted Husky margin headwinds during COVID1 Source: CompoSecure and Husky data; Resolute analysis. 1. Referenc
Slide 13: Valuation is Highly Attractive Across All Metrics
13 Valuation is Highly Attractive Across All Metrics Margin of Safety – Significant Discount to Peers Despite Best-in-Class Financial Profile Source: FactSet, market data as of 26-Sep-2025. Note: Dashed lines represent median of peer subgroups. 1. Defined as free cash flow (cash flow from operations
Slide 14: Day 1 Re-Rate / Long-Term Compounding to Best-in-Class Position
“Day 1” Re-Rate / Long-Term Compounding to Best-in-Class Position Fully Distributed At Private Placement 14 Go-Forward Opportunity Significant “Day 1” Upside and Long-Term Compounding Source: Resolute analysis. Go-Forward Value Creation Algorithm M-HSD annual organic growth, outperforming underlying
Slide 15: II. Segment 1: CompoSecure
Il. Segment 1: CompoSecure @®CompoSecure
Slide 16: CompoSecure Business Summary
16 CompoSecure Business Summary Public Company Segment 1 Segment 2 Source: CompoSecure data. CompoSecure is the leading manufacturer of premium metal payment cards. The Company produces 30mn+ cards per year and has a 75%+ share of the global market. Its customers include the largest and most prestig
Slide 17: CompoSecure Investment Highlights
17 CompoSecure Investment Highlights 1 Leading competitive position – one of one 2 Large, structurally growing, and highly resilient end markets 5 Attractive financial profile 6 Real optionality with Arculus – meaningful unmodeled upside 3 Highly recurring revenue model underpins durable growth Publ
Slide 18: Leading Competitive Position – One of One
18 Leading Competitive Position – One of One #1 Manufacturer of Metal Payment Cards Globally Source: Commercial market study; CompoSecure data. 1 Established Market Leadership ~75% share of global metal payment card market Pure-play focus on premium metal cards is differentiated from diversified com
Slide 19: Large, Growing, and Resilient End Markets
19 Large, Growing, and Resilient End Markets Significantly Underpenetrated – Metal Card Manufacturing Forecasted to Grow 11-12% p.a. 2 Strong value proposition of metal cards driving continued share gain versus plastic Public Company Segment 1 Segment 2 Robust Metal Card Growth Across All Regions Ke
Slide 20: Large, Growing, and Resilient End Markets
20 Large, Growing, and Resilient End Markets Source: Commercial market study; CompoSecure data; Public filings. 2 Metal Card Demand Accelerating Within Expanding Base of Total Cards in Circulation Durable metal demand given customer preferences and recurring issuance from in circulation base Visa /
Slide 21: High Recurring Revenue Underpins Durable Growth
21 High Recurring Revenue Underpins Durable Growth Source: Commercial market study; CompoSecure data; CPI Card Group data. 1. CompoSecure internal estimates. 3 Recurring Sales Provide Visibility and Establish Foundation for Durable Growth Organic Revenue Growth Increases Issued Cards and Recurring S
Slide 22: Multiple Levers for Growth and Margin Expansion
22 Multiple Levers for Growth and Margin Expansion Source: CompoSecure data. Note: Dollars in millions. 1. Net Adj. EBITDA and Net Adj. EBITDA Margins reflect pro forma adjustment for Management Fee to RHLD, including during historical periods to maintain like-for-like comparison across periods. Man
Slide 23: Attractive Financial Profile
23 5 Attractive Financial Profile Source: CompoSecure data; Resolute analysis. Note: Results reflect pro forma adjustment for Management Fee to RHLD, including during historical periods to maintain like-for-like comparison across periods. Management Fees paid only for periods subsequent to the compl
Slide 24: Real Optionality with Arculus
24 6 Real Optionality with Arculus Source: CompoSecure data. Versatile Platform Provides Exposure to Critical Authentication and Digital Asset Markets Arculus is generating revenue and growing quickly as customers seek to future-proof authentication Multiple Secure Applications Gemini – Powered by A
Slide 25: III. Segment 2: Husky
lll. Segment 2: Husky ®CompoSecure
Slide 26: Husky Business Summary
26 Husky Business Summary Source: Husky data. Husky is the global leader in the manufacturing of injection molding equipment and aftermarket tooling and services. The Company has ~13,500 installed systems, representing ~40% global market share and ~65% recurring revenue from aftermarket parts and se
Slide 27: Husky Investment Highlights
27 Husky 1 Leading competitive position 2 Large, consistently growing, and resilient end markets 4 Multiple levers for further growth and margin expansion 5 Attractive financial profile Investment Highlights Public Company Segment 1 Segment 2 3 Highly recurring revenue model underpins growth and pre
Slide 28: Leading Competitive Position
28 Leading Competitive Position Superior Products and Proven Track Record Create Durable Competitive Edge Source: Commercial market study; Husky data. 1. PET beverage systems and aftermarket molds market share (excludes aftermarket parts and services). 1 ~40% market share driven by industry leading
Slide 29: Large, Growing, and Resilient End Markets
29 Large, Growing, and Resilient End Markets Source: Commercial market study; Husky data. 2 PET Beverage Demand is Resilient and Consistently Growing PET Beverage demand is acyclical and growing driven by strong consumption and PET beverage packaging taking share ̶ Non-alcoholic beverage consumption
Slide 30: Large, Growing, and Resilient End Markets: Significant Total Addressable Market
30 Large, Growing, and Resilient End Markets Significant Total Addressable Market Supported by Favorable Long-Term Demand Drivers End Market Market Size Forecasted Growth Rate % of Sales Key Growth Drivers Total ~$5.8 billion 5-6% 100% 2 Source: Commercial market study; Husky data. 1. Beverage & Pac
Slide 31: High Recurring Revenue Underpins Growth & Predictability
31 High Recurring Revenue Underpins Growth & Predictability Installed Base and Growing Content Per System Drive Highly Recurring Aftermarket Sales Durability of Increasing Aftermarket Sales Significantly Enhances Resiliency Through Cycles ~65% Recurring Revenue Source: Husky data. 1. Includes upfron
Slide 32: Levers for Growth and Margin Expansion
25.3% 2.2% 1.0% 1.7% (0.6%) 1.4% 31.0% Net Adj. EBITDA Margin (2025E) Materials Savings Labor Savings Market Pricing Mix Operating Leverage Net Adj. EBITDA Margin (2030E) 32 4 Levers for Growth and Margin Expansion Source: Husky data. Note: Net Adj. EBITDA Margins reflect pro forma adjustment for Ma
Slide 33: Attractive Financial Profile
33 Attractive Financial Profile Source: Husky data; Resolute analysis. Note: Results reflect pro forma adjustment for Management Fee to RHLD, including during historical periods to maintain like-for-like comparison across periods. Management Fee will only be paid for periods following closing of the
Slide 34: IV. Appendix: Pro Forma Supplement
IV. Appendix: Pro Forma Supplement
Slide 35: Transaction Overview
35 Transaction Overview Summary Transaction Terms and Expected Timing Source: Resolute analysis. 1. CompoSecure, Inc. likely to be renamed in conjunction with transaction announcement. 2. Net Adjusted EBITDA is calculated assuming full year of management fee to RHLD. Management fee will only be paid
Slide 36: Pro Forma Financial Profile
36 Pro Forma Financial Profile Source: CompoSecure and Husky data; Resolute analysis. Note: Results reflect pro forma adjustment for Management Fee to RHLD, including during historical periods to maintain like-for-like comparison across periods. Management Fee for Husky will only be paid for periods
Slide 37: V. Appendix: CompoSecure Supplement
V. Appendix: CompoSecure Supplement
Slide 38: Key Offerings
38 Key Offerings Metal Payment Cards, Authentication, and Digital Asset Storage Source: CompoSecure data. Public Company Segment 1 Segment 2 Metal Payment Cards Authentication and Digital Asset Storage Design & Innovation Studio Bespoke prototype card development leveraging expert team of engineers,
Slide 39: Corporate History
39 Corporate History Source: CompoSecure data. Distinct Epochs of Ownership Dictated Corporate Strategy Public Company Segment 1 Segment 2 Ownership Family Owned (Logan Family) Private Equity Owned (LLR Partners) Public (LLR Controlled) Strategic Focus Product innovation, building a brand, and secur
Slide 40: Legacy of Industry Leading Innovation
40 Legacy of Industry Leading Innovation Source: CompoSecure data. Innovation has Fueled Industry Defining, Patented Technologies Long-standing tradition of design and technology innovation has sustained CompoSecure’s leadership CompoSecure has 60+ families of active patents with 35+ patent families
Slide 41: Management Team
41 Management Team Long-Tenured, Highly Experienced Executive Team Supported by Deep Leadership Pool Source: CompoSecure data. Pro forma entity structure allows management to focus on sustaining operational excellence Public Company Segment 1 Segment 2 CompoSecure Management Team Jon Wilk Chief Exec
Slide 42: Commercial Market Study Highlights
42 Commercial Market Study Highlights Metal Cards Comprise <1% of the Market Today, as Payment Cards Increase in Use Globally Metal is <1% of Total Payment Cards Today Credit Cards Per Capita Increasing Globally Source: Commercial market study. Public Company Segment 1 Segment 2 Metal cards shipped
Slide 43: VI. Appendix: Husky Supplement
VI. Appendix: Husky Supplement
Slide 44: Key Offerings
44 Key Offerings Integrated Injection Molding Systems, Tooling, and Aftermarket Parts & Services Source: Husky data. New System Sales (~35% of 2026E Revenue) Aftermarket Sales (~65% of 2026E Revenue) Machines (System) Primary equipment used for injection molding process and to keep melted resin in m
Slide 45: Service Contracts (Featuring Advantage+Elite)
45 Service Contracts (Featuring Advantage+Elite) Source: Husky data. 1. As of 2Q25. Husky’s Remote Monitoring Capabilities are a Highly Differentiated Competitive Advantage Realized Efficiency Gains Driving Adoption With Several Identified Growth Vectors $7.8 $10.1 $10.2 $16.1 $27.9 $34.4 $44.3 $63.
Slide 46: Corporate History
46 Corporate History Source: Husky data. Commitment to Innovation has Persisted through Multiple Sponsor Holds Key Milestones Ownership Family Owned (Schad Family) Public (44% Controlled by Schad Family) Private Equity Owned (ONEX; Berkshire + OMERS; Platinum) Strategic Focus Product innovation, bui
Slide 47: Legacy of Industry Leading Innovation
47 Legacy of Industry Leading Innovation Source: Husky data. Tradition of Developing Patented Technologies that Set the Industry Standard Husky has 175+ families of active patents with 1,500+ patents pending worldwide Husky’s deeply ingrained culture of customer centric innovation creates 18 to 24-m
Slide 48: Management Team
48 Management Team Long-Tenured, Highly Experienced Executive Team with Deep Leadership Pool Source: Husky data. Pro forma entity structure allows management to focus on sustaining operational excellence Brad Selleck Chief Executive Officer John Linker Chief Financial Officer Balaji Suresh Chief Ope
Slide 49: Commercial Market Study Highlights
654 615 649 688 728739 780 809 837 871 903 49 Commercial Market Study Highlights Global Growth in PET Demand Drives Injection Molding System & Aftermarket Sales Source: Commercial market study. Consistent Underlying PET Demand Growth Creates Stable Growth for Injection Molding Steadily growing PET d
Slide 50: Commercial Market Study Highlights
50 Commercial Market Study Highlights Source: Commercial market study. PET Beverage Injection Molding Market Forecasted to Grow at 5-6% Per Year Driver ’25-’29 Rationale Systems Revenue Growth ~4-5% Net new system growth ~6-7% Continued underlying PET demand growth System replacement growth ~2-3% St
Slide 51: Advantages of PET are Superior to Alternative Substrates
51 Advantages of PET are Superior to Alternative Substrates Source: Commercial market study; Husky data. 1. Represents price ratio of substitutes versus plastics in cents per bottle (with PET = 1.0x). 2. Subcomponents of total price include bottle (in gray), secondary packaging (in gold), and transp
Slide 52: Sustainability Mandates Reinforce Market Position
52 Sustainability Mandates Reinforce Market Position Source: Globaldata; Husky data; Worldbank. Machines are Engineered to Meet Regulatory Requirements without Compromising Quality Husky is the only manufacturer with machines that can process rPET and PET at the same speed Recycled PET is Critical t
Slide 53: COVID Margin Contraction Driven by Supply Chain Onshoring
53 COVID Margin Contraction Driven by Supply Chain Onshoring Source: Husky data; Resolute analysis. Note: Historical Adj. EBITDA from 2020-2022 excludes Management Fee to RHLD. 1. 2020 Adj. EBITDA Non-GAAP reconciliation comprised of GAAP Operating Income of $159mn plus D&A of $154mn plus Business T
Slide 54: Non-GAAP Reconciliations
54 Non-GAAP Reconciliations Adj. Revenue, Net Adj. EBITDA (Margins), Net Adj. EBITDA Less Capex (Margins), FCF Conversion2 Source: CompoSecure and Husky data; Resolute analysis. 1. Adjustment for revenue loss related to temporary system downtime following a cybersecurity incident. 2. Free cash flow