Unifirst Corporation · NYSE:UNF
Unifirst — Merger or Acquisition (December 2025)
10 slides from Unifirst's merger presentation, Dec 22, 2025
Slide 1: Cintas + UniFirst Built to Get Businesses of All Sizes Ready for the Workday
Cintas + UniFirst Built to Get Businesses of All Sizes Ready for the Workday December 22, 2025
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains statements that constitute "forward - looking statements" within the meaning of the federal securities laws. All statements other than statements regarding historical facts, including, without limitation, statements regarding Ci nta s’ current ex
Slide 3: Creating Value for Customers, Employees & Shareholders
Creating Value for Customers, Employees & Shareholders Combination would enable Cintas and UniFirst to better support customers Enhances position among broad, diverse and well capitalized companies in an increasingly competitive market for workwear and facility solutions Amplifies and accelerates be
Slide 4: Significant, Immediate and Certain Value for UniFirst Shareholders
Significant, Immediate and Certain Value for UniFirst Shareholders $150 $170 $190 $210 $230 $250 $270 $290 12/21/2022 4/21/2023 8/21/2023 12/21/2023 4/21/2024 8/21/2024 12/21/2024 4/21/2025 8/21/2025 90 Day Average Closing Price ($168.12) CTAS Offer ($275 per share) Last Closing Price $ 174.07 (12/
Slide 5: Proposed Transaction Details
Proposed Transaction Details ▪ Cintas to acquire all outstanding common and class B shares of UniFirst for $275 per share in cash ▪ Implied total transaction value of approximately $5.2 billion Financial Terms ▪ Compelling strategic fit with shared priorities to enhance service for customers ▪ Bette
Slide 6: Combined Company Better Positioned Within Large, Growing, Competitive Market
Combined Company Better Positioned Within Large, Growing, Competitive Market Cintas + UniFirst ▪ Innovative, more complete solution and comprehensive value proposition for businesses of all sizes. ▪ Well - positioned to capitalize on strong buying motivations of image, safety, cleanliness and compli
Slide 7: Amplified Benefits of Investment in Technology
Amplified Benefits of Investment in Technology Accelerates UniFirst’s ERP implementation Amplifies Cintas’ ongoing investments in solutions for customers and tools for employee - partners Applies Cintas’ proven technology - supported operational excellence to broader footprint Simplifies combined co
Slide 8: Cintas' Public Proposal Follows Consistent Lack of Meaningful Engagement
Cintas’ Public Proposal Follows Consistent Lack of Meaningful Engagement Cintas has engaged in good - faith efforts in seeking to reach an agreement dating back to early 2022 8 FEBRUARY 7, 2022 Cintas presents indication of interest to acquire UniFirst for $255/share (the "Prior Proposal"); UniFirst
Slide 9: Cintas is Prepared to Engage and Move Toward a Transaction Immediately
Cintas is Prepared to Engage and Move Toward a Transaction Immediately ▪ We expect to have limited and specific confirmatory due diligence requirements. Diligence ▪ We would work towards signing and announcing a definitive agreement in January 2026. Timing ▪ Cintas has engaged leading regulatory cou
Slide 10: Cintas. Ready for the Workday
CiNTAS. READY FOR THE WORKDAY’