Capstone Holding Corp. · NASDAQ:CAPS
Capstone — Investor Presentation (December 2025)
14 slides from Capstone's investor presentation, December 2025
Slide 1: Capstone Holding Corp: Strategy Update
CAPSTONE HOLDING CORP: North America’s Premier Building Products Distribution Platform Strategy Update BUILT TO DELIVER. POSITIONED TO ACQUIRE. READY TO SCALE. December 2025
Slide 2: Legal Disclosure & Disclaimer
Legal Disclosure & Disclaimer This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act that reflect our current views with respect to, among other things, our operations, business strategy, interpretation of prior development activities
Slide 3: Contd...
Contd... THIS PRESENTATION IS NOT INTENDED TO SERVE AS A FORECAST OF ANY SUCH FUTURE PERFORMANCE OR PROSPECTS. An investor must not act on any matter contained in this document but must make its own assessment of Capstone and conduct its own investigations and analysis. Investors should assess their
Slide 4: About Capstone
About Capstone • Capstone Holding Corp. is North America’s leading distributor of building products. • Through organic growth and well-timed acquisitions, the company has expanded from a single-site distributor into a platform serving 32+ states and Canada. • In 2025, the company set an ambitious ta
Slide 5: Capstone Investment Rationale: Why Own Our Equity
Capstone Investment Rationale: Why Own Our Equity Valuation Arbitrage Capstone acquires small businesses on favourable terms. Integrates its technology, processes and scale to drive value. The market recognizes this over time and awards valuations of 10x-14x EBITDA. As operating performance accelera
Slide 6: How We Achieve Valuation Arbitrage
How We Achieve Valuation Arbitrage(1) The Re-Rating Thesis PLATFORM PUBLIC PLATFORM PRIVATE MARKET INTEGRATION 4-6x 10-14x We buy business at 4-6x EBITDA We add our Tech & Scale With scale, public (25-50% non-cash) = multiple expansion. companies trade at premium valuations. Opportunity Multiple exp
Slide 7: Key Value Driver: Rapid Integration Playbook
Key Value Driver: Rapid Integration Playbook What most companies accomplish in 60 days, we achieve on day one. Legacy Approach Integrations historically required several months to align Result systems and reporting. Immediate control of cash, inventory, and data; New Standard (CSI 2025) reduced exec
Slide 8: What We as Owners Look For: Disciplined, Immediately Accretive Acquisitions
What We as Owners Look For: Disciplined, Immediately Accretive Acquisitions Every deal instantly increases per-share value. Pipeline Depth Geographic Capabilities Route Density Disciplined Focus Valuation 150+ identified Prioritizing high- Pursuing In-market tuck-ins Consistent focus on targets acro
Slide 9: What We See as Next Step: Accelerate Path to $100M+
What We See as Next Step: Accelerate Path to $100M+ Starting Point: Current pro forma revenue run-rate: ~$70M. Organic Drivers: • Leveraging existing platform scale $100M • Expanding sales resources • Geographic expansion in high-growth markets $70M Market Backdrop: Demand supported by housing activ
Slide 10: Use Key Levers to Drive Margin Growth
Use Key Levers to Drive Margin Growth How the platform is converting scale into margin growth. MACRO TAILWIND ORGANIC GROWTH MARGIN FOCUS TARGETED M&A FINANCIAL ENGINE OUTCOME Improving Sales-driven Greater emphasis Acquisitions backdrop with execution leveraging on higher-margin cantered on route T
Slide 11: Most Recent Acquisitions Expand Coverage and Capabilities
Most Recent Acquisitions Expand Coverage and Capabilities Capstone’s disciplined H2 acquisitions added $26M in revenue. Carolina Stone Products Canadian Stone Industries (CSI) Closed August 2025 Closed December 2025 • Strategic Entry: Immediate foothold in high- • Market Leader: Market leader in Can
Slide 12: Capstone's North American Platform
Capstone’s North American Platform We provide products that increase the value of a home. Value-Added Partner: The logistics backbone for the masonry & hardscape industry. Network: Nine warehouses serving North America coast- to-coast. Brands: Leading portfolio of premium brands: Cultured Stone, Dut
Slide 13: Conclusion: Capstone Is at an Inflection Point
Conclusion: Capstone Is at an Inflection Point The Platform Is Our Ability to Margin Expansion Strategic Built. Execute Is Proven. Is Next. Momentum Capstone has Capstone’s approach We are on a strong Our competitors are transitioned from to integrations and trajectory to our constrained. We are reg
Slide 14: Matthew Lipman, CEO
Matthew Lipman, CEO matt.lipman@capstoneholding.com Phone: +1 (212) 302-0699 Web | OTC: www.capstoneholdingcorp.com | OTC: CAPS LEARN MORE AT www.capstoneholdingcorp.com 14
Capstone Holding — Investor Presentation (December 2025) on 6ix