Teamshares Completes Four Acquisitions From Retiring Owners In The Q4 Of 2025, With Combined Last Twelve-Month EBITDA Exceeding $15M

• Teamshares completed four acquisitions from retiring owners in the fourth quarter of 2025, with combined last twelve-month EBITDA (non-GAAP) exceeding $15 million, in line with its acquired EBITDA target for the quarter.
• As part of the Business Combination public filings on November 14, 2025, Teamshares publicly disclosed an investor presentation with a 2026 annual forecast of $35 to 40 million in acquired EBITDA (non-GAAP) and $6 million in the first quarter of 2026 acquired EBITDA.
• The $3.8 million average EBITDA (non-GAAP) for fourth quarter of 2025 acquisitions is consistent with the Company's focus on durable family enterprises with EBITDA of $0.5 to $5 million and high cash flow conversion.
• Teamshares acquired these companies at a combined EBITDA multiple of approximately 5.3x LTM EBITDA (non-GAAP) plus additional performance-based earnouts, continuing its focus on disciplined capital allocation as it heads towards the public markets.
• Teamshares' platform has over 90 operating subsidiaries across over 40 industries, with an average operating history of over 35 years as of December 31, 2025.
• In December 2025, Teamshares also closed approximately $30 million of interim financing pursuant to a credit facility with funds managed, advised, or sub-advised by JBA Asset Management LLC to provide secured term loans to certain unencumbered subsidiaries. This financing is consistent with plans for a $25 million interim financing previously authorized by LOKV as part of the Business Combination. The credit facility will be used for activities in the ordinary course of Teamshares' business, including financing working capital and business acquisitions, refinancing existing acquisition debt, and general corporate purposes.

Co-founder and CEO Michael Brown noted, "Teamshares' acquisition-based business model aims to drive predictable, repeatable growth and scale through financial technology. Execution this quarter is consistent with our ability to address the very large market of family enterprises in need of succession in a programmatic manner. We are excited to move towards a public listing in partnership with Live Oak, and continue building a durable company focused on long-term shareholder and stakeholder value."

Richard Hendrix, Chairman and CEO of LOKV and co-founder of Live Oak Merchant Partners, said, "Teamshares' fourth quarter 2025 acquisition results underscore the company's execution prowess, capital allocation discipline, and public market readiness. We continue to believe the Teamshares business model allows a long-term compounding pathway that will create tremendous shareholder value."