Investor Presentation March 2026 Safe Harbor Disclosure We make forward-looking statements in this presentation that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, cash flow and plans and objectives. When we use the words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may" or similar expressions, we intend to i ...

Core Insights - Ashton Kutcher is leading a consortium in a $2.7 billion deal to take Soho House private, with Kutcher joining the board [1][4] - Shareholders will receive $9 per share, an 83% premium over the pre-offer price of $4.91, although lower than the IPO price of $14 [4][9] - The deal has surprised Wall Street, as there had been no updates for over six months prior to the announcement [6][8] Company Overview - Soho House is a high-end membership club offering exclusive access to vacation properties, spas, and coworking spaces [4] - The consortium includes MCR, the third-largest owner-operator of hotels in the U.S., which has been expanding into higher-end properties [4][5] Financial Details - The share price jumped 47% following the initial offer announcement, reflecting strong market interest [7] - Current trading at approximately $8.80 indicates limited upside for new investors, as it is only 2% below the offer price [9][10] Strategic Implications - The new board members, including MCR's CEO, may influence Soho House's strategic direction post-privatization [5] - Existing shareholders may consider selling their shares now rather than waiting for the deal to close for minimal arbitrage gains [10] Market Context - Investors who missed the opportunity with Soho House may look into other undervalued online property platforms like Airbnb or Marriott Vacations Worldwide, both down over 40% from their five-year highs [11]