Slide 1: A Pure-Play Ready-Mix Concrete Platform Supplying the High Growth U.S. Sunbelt
Investor Presentation December 2025 A Pure-Play Ready-Mix Concrete Platform Supplying the High Growth U.S. Sunbelt
Slide 2: Disclaimer
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Disclaimer 1 This presentation (including any accompanying oral presentation, this “Presentation”) is being furnished solely to recipients that are “qualified institutional buyers” as defined in Rule
Slide 3: Disclaimer (Cont’d)
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Disclaimer (Cont’d) 2 Company could incur material costs and losses as a result of claims that the Company’s products do not meet regulatory requirements or contractual specifications; (xl) environmen
Slide 4: Disclaimer (Cont’d)
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Disclaimer (Cont’d) 3 Neither Haymaker nor the Company makes any representation or warranty, express or implied, as to the accuracy or completeness of this Presentation or any other information (wheth
Slide 5: Today’s Speakers
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Today’s Speakers 4 Randall Edgar Chief Executive Officer Tommy Wentroth Chief Financial Officer Andrew Heyer Haymaker Acquisition Corp. 4 Christopher Bradley Haymaker Acquisition Corp. 4 Steven Heyer
Slide 6: Table of Contents
Introduction 6 Key Investment Highlights 13 Financial Overview 26 Valuation Overview 30 Appendix 35 Table of Contents 5
Slide 7: Introduction
6 Introduction
Slide 8: Suncrete Checks All the Boxes for Haymaker’s Investment Thesis
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Suncrete Checks All the Boxes for Haymaker’s Investment Thesis 7 Investment Criteria Scaled, decentralized services and products business Suncrete is a tech-enabled logistics and products platform cre
Slide 9: Suncrete / Haymaker Business Combination – Transaction Overview
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Estimated Uses ($M) Suncrete Equity Value $325.3 Acquisitions(2) 169.8 Cash to Balance Sheet 129.1 Senior Preferred Equity Repayment 26.0 LOI Rollover Equity 36.2 Debt Rollover 206.0 Warrant Redemptio
Slide 10: Executive Summary
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Executive Summary 9 • SunTx Capital Partners (“SunTx”) is excited to partner with Haymaker Acquisition Corp. 4 (“Haymaker”) to bring Concrete Partners Holding, LLC (“Suncrete” or the “Company”) to the
Slide 11: About Suncrete
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 10 $675M 2026E PF Revenue(1) $130M 2026E PF Adj. EBITDA(2,3) ~87% 2026E Free Cash Flow Conversion(3,5) 3.0–3.5 Yards Delivered Per Driver Hour $39M PF Adj. EBITDA Currently Under Non-Binding LOI $60M+
Slide 12: Visibility to $130 Million PF Adj. EBITDA in 2026
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 ***Current Platform inclusive of the full year impact of target acquired in October 2025. Financials for all targets are pro forma adjusted to reflect a full year of ownership and the impact of expect
Slide 13: Key Investment Highlights
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Experienced Sponsor Applying a Proven Playbook in an Adjacent Market, Cultivated over 20+ Years of ROAD Investment Scalable Platform with Strong Operations & Infrastructure, Management and Considerabl
Slide 14: Key Investment Highlights
13 Key Investment Highlights
Slide 15: Attractive Market Characteristics Drive Compelling Opportunity
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 ✓Market is served by local, sub-scale players and unfocused operations of upstream-centric strategics ✓Typical competitors are not optimized, lacking professionalized infrastructure and focused strate
Slide 16: Suncrete Well-Positioned to Drive Strategic Consolidation
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Local Platforms …with Suncrete Well-Positioned to Drive Strategic Consolidation 15 Uniquely Positioned Through Relationships, Track-Record and Value Proposition Limited Competition for Acquisition Tar
Slide 17: Experienced Sponsor Applying a Proven Playbook
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Experienced Sponsor Applying a Proven Playbook 16 Note: Trading statistics are from Capital IQ as of 12/2/2025. Note: Best-in-class Heavy Material peers index includes Martin Marietta, Eagle Materials
Slide 18: Scalable Current Platform with Strong Operations & Infrastructure
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Scalable Current Platform with Strong Operations & Infrastructure… 17 Note: Figures inclusive of target acquired in October 2025. 1. 2026E. 2. Based on number of plants in the Tulsa and Northwest Arka
Slide 19: Led by Proven Industry Veterans and Entrepreneurial Culture
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 …Led by Proven Industry Veterans and Entrepreneurial Culture… 18 Executive Leadership Deep Bench of Operational Talent 1 2 3 Platform Advantages 4 5 6 Mark Jones President Blake Meeker Vice President
Slide 20: Driving Significant Advantages over Typical Competitors
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 …Driving Significant Advantages over Typical Competitors 19 Typical Competitor Company Scale & Market Leadership #1 or #2 player in current markets(1) with repeatable strategy to drive relative market
Slide 21: Differentiated Value Proposition to Suppliers and Customers
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Differentiated Value Proposition to Suppliers and Customers 20 Value Proposition to Suppliers Value Proposition to Customers High-Quality Customer Service Delivering ready-mix on time and on-spec, fos
Slide 22: Attractive Dynamics in Current Oklahoma and Arkansas Footprint
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 (Covid Impact) $3,848 $4,297 $3,308 $3,879 $4,529 $4,657 $5,510 $2,257 $3,345 $2,820 $2,553 $3,634 $6,047 $5,502 $6,105 $7,642 $6,128 $6,432 $8,163 $10,704 $11,012 2018 2019 2020 2021 2022 2023 2024 A
Slide 23: Growing U.S. Sunbelt Market Supported by Strong Tailwinds
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 ap (3,000) (2,000) (1,000) - 1,000 1974 1984 1994 2004 2014 2024 Growing U.S. Sunbelt Market Supported by Strong Tailwinds 22 Source: U.S. Census Bureau; FRED; Whitehouse publications. 1. “South” refl
Slide 24: Acquiror of Choice with Deep, Actionable Pipeline
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Acquiror of Choice with Deep, Actionable Pipeline 23 1. Based on % of estimated revenue. 2. Represents the percentage of revenue from acquisition targets by primary state served or location of its hea
Slide 25: Well-Defined Value Creation Levers Post-Acquisition
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Well-Defined Value Creation Levers Post-Acquisition… 24 1 2 3 4 5 6 Acquiror of Choice Technology & Backoffice Integration → Integration of operations-enhancing technology including live monitoring, c
Slide 26: Acquisition of SMG OK Assets
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 …That are Driving Meaningful Results: Acquisition of SMG OK Assets 25 Source: Management estimates; Oklahoma Ready Mixed Concrete Association. 1. Represents Eagle’s 2024 Adj. EBITDA per yard. See disc
Slide 27: Financial Overview
Financial Overview Suncrete
Slide 28: Performance Update & Key Financial Assumptions
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Performance Update & Key Financial Assumptions 27 • The Suncrete team has successfully acquired a contiguous Oklahoma platform in October of 2025, and has an additional $39 million of 2025E EBITDA und
Slide 29: Pro Forma Adj. EBITDA and Revenue Growth
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 $66 $72 $39 $47 $11 $54 $66 $105 $130 2023PF 2024PF 2025E 2026E $94 $98 $68 $81 $19 $71 $86 $162 $198 2023PF 2024PF 2025E 2026E Topline Growth • Impressive initial platform organic revenue growth in t
Slide 30: Summary of Capital Expenditures
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Summary of Capital Expenditures Source: Quality of Earnings, Company Financials. 29 1. Free cash flow = PF Adj. EBITDA less maintenance CapEx. Conversion = FCF / PF Adj. EBITDA. Adj. EBITDA is a non-G
Slide 31: Valuation Overview
30 Valuation Overview
Slide 32: Selected Public Companies Benchmarking
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 19.2% 10.2% 31.3% 87.0% 90.1% 64.5% Selected Public Companies Benchmarking 31 Select Companies Description Assessing Comparability ✓ Similar products, end-markets & customers ✓ Similar secular tailwin
Slide 33: Selected Public Companies Benchmarking | Profitability
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 2026E EBITDA Margin 2026E FCF Conversion Selected Public Companies Benchmarking | Profitability 32 Median: 10.2% Median: 31.3% Median: 90.1% Median: 64.5% (2,3) Note: Represents calendar year financia
Slide 34: Selected Public Companies Benchmarking | Growth
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 8.5% 9.4% 6.2% 6.1% 6.0% 2.5% 10.4% 15.6% 12.9% 4.4% 13.8% 12.5% 11.1% 10.0% 8.3% 2.3% 10.1% 16.6% 14.2% 10.4% 2026E EBITDA Growth 2026E Revenue Growth Selected Public Companies Benchmarking | Growth
Slide 35: Selected Public Companies Benchmarking | Valuation
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 8.7x 26.8x 22.8x 22.6x 18.2x 15.8x 27.7x 23.1x 16.6x TEV / 2026E FCF TEV / 2026E EBITDA Selected Public Companies Benchmarking | Valuation 34 Note: Represents calendar year financials. Selected public
Slide 36: Appendix
35 Appendix
Slide 37: Reconciliation of 2023A – 2025E Adjusted EBITDA
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Eagle Target Acquired in October '25 PF Consolidated Eagle Target Acquired in October '25 PF Consolidated PF Consolidated 2023A 2023A 2023A 2024A 2024A 2024A 2025E Net Income $27.0 $15.6 $42.5 $21.5 $
Slide 38: Risk Factors
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Risk Factors 37 Risks Related to Suncrete’s Business and Industry • Our business depends on activity within the construction industry and the economic strength of our principal markets, and is subject
Slide 39: Risk Factors (Cont’d)
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Risk Factors (Cont’d) 38 Risks Related to Government Spending, Legislative and Regulatory Risks • Our operations are subject to changes in legal requirements and governmental policies. • Government co
Slide 40: Risk Factors (Cont’d)
110 106 100 196 63 22 217 212 199 191 213 215 62 56 48 91 142 147 195 152 109 239 249 252 255 150 0 Risk Factors (Cont’d) 39 • You will not have any rights or interests in funds from the trust account, except under certain limited circumstances to liquidate your investment, therefore, you may be for