TWO MEN AND A TRUCK

Data Based On: Financial performance data for 219 franchised units. This includes 199 Franchise Operating Units (comprising Single and Multi-Unit Franchises) that operated for a full 12 months in 2024, and 20 Mod Market Franchises whose data covers the 12-month period preceding their 2024 anniversary date. Units that began operating in 2024 or did not complete their first year are excluded.

* Weighted average gross revenue calculated from 199 Franchise Operating Units (Table 1: average $2,862,607) and 20 Mod Market Franchises (weighted average $686,042.95 from Table 5 segments: Year 1 (9 units at $484,134), Year 2 (5 units at $1,059,357), Year 3 (4 units at $623,159), Year 4 (2 units at $787,116)). Total units: 219. Overall weighted average gross revenue: ($2,862,607 * 199 + $686,042.95 * 20) / 219 = $2,663,834.03. Weighted average EBITDA calculated for 199 Franchise Operating Units based on weighted average of Multi-Unit (48 units at $563,987 from Table 2) and Single Franchises (151 units at $341,506 from Table 3) giving $395,169.76. Mod Market weighted average EBITDA is $55,863.75 (calculated from Table 5 segments: Year 1 (9 units at -$4,462), Year 2 (5 units at $121,363), Year 3 (4 units at $79,019), Year 4 (2 units at $117,271)). Overall weighted average EBITDA: ($395,169.76 * 199 + $55,863.75 * 20) / 219 = $364,182.91. EBITDA margin calculated as overall average EBITDA / overall average gross revenue = $364,182.91 / $2,663,834.03 = 0.1367. Best guess profit range is based on the lowest and highest EBITDA values observed across all reported franchise unit types (Single, Multi-Unit, and Mod Market): Lowest EBITDA ($295,527 for Single Franchises) and Highest EBITDA ($2,843,433 for Single Franchises).