Stack Capital Group (STCK) investor relations material

Market opportunity and barriers

• Access to high-growth private companies is limited for most investors due to accredited investor rules, high minimums, and lack of liquidity.

• Private equity has become a major driver of wealth creation as the number of public companies has declined and private companies have grown significantly in number and size.

• Companies are staying private longer, realizing more growth before IPO, making private market access increasingly valuable.

Solution and structure

• Provides democratized access to growth and late-stage pre-IPO companies for both accredited and non-accredited investors via a TSX-listed vehicle.

• Offers liquidity, transparency, and regulatory oversight, with shares tradable on the TSX and regular portfolio disclosures.

• Permanent capital structure eliminates forced selling and aligns investment horizon with portfolio companies.

Investment approach and portfolio

• Focuses on acquiring preferred equity in the last 1-2 rounds before IPO, providing risk-adjusted exposure and liquidation preference.

• Selectively invests across preferred equity, common equity, and convertible debt, targeting companies with strong growth, balance sheets, and experienced management.

• Portfolio as of March 2026 includes SpaceX (31.9%), Canva (9.1%), Crusoe (7.4%), Locus Robotics (6.6%), OpenAI (6.5%), CoreWeave (5.2%), Omio (5.1%), Hopper (4.9%), Prove (4.8%), Databricks (4.0%), Shield AI (2.8%), and others.

• Book Value Per Share is $16.57 as of March 31, 2026, with a cash position of 12.3%.