Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to US$106, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 19x in the Professional Services industry in the US. Total returns to shareholders of 284% over the past year. New Risk • May 08
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 2.8% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (2.8% operating cash flow to total debt). Earnings have declined by 21% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.7% net profit margin). Significant insider selling over the past 3 months (US$230k sold). Reported Earnings • May 08
First quarter 2026 earnings released: EPS: US$7.27 (vs US$0.40 loss in 1Q 2025) First quarter 2026 results: EPS: US$7.27 (up from US$0.40 loss in 1Q 2025). Revenue: US$407.8m (up 293% from 1Q 2025). Net income: US$61.5m (up US$64.9m from 1Q 2025). Profit margin: 15% (up from net loss in 1Q 2025). Live News • May 05
Resolute Holdings Management Ties Growth to EBITDA Fees and Expanding Acquisitions Platform Resolute Holdings Management structures its fees directly off adjusted EBITDA at GPGI and its subsidiaries, tying revenue to operating performance.
The company is using acquisitions, including Husky, to broaden its operating platform and expand potential fee streams.
Management is positioning the business for a larger, more scalable platform that could influence how the market values the stock over time.
For you as an investor, the key point is that RHLD’s fee model is linked to adjusted EBITDA rather than traditional assets under management. That means the company’s economics are tied to how well its operating platform performs, not just how large it is. As GPGI and its subsidiaries add businesses like Husky, the fee base can grow in line with that broader EBITDA pool.
This structure can create meaningful operating leverage, but it also means your focus should be on the quality and integration of each acquisition and the underlying profitability of the platform. The mention of a potential market re-rating highlights that RHLD is effectively building a portfolio of operating businesses where execution, cost control and EBITDA resilience will be central to how the stock is viewed over time. Announcement • Apr 27
Resolute Holdings Management, Inc., Annual General Meeting, Jun 11, 2026 Resolute Holdings Management, Inc., Annual General Meeting, Jun 11, 2026. Recent Insider Transactions • Mar 19
Independent Director recently sold US$230k worth of stock On the 17th of March, Jane Thompson sold around 2k shares on-market at roughly US$124 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$1.6m more than they sold in the last 12 months. Reported Earnings • Mar 12
Full year 2025 earnings released: US$0.69 loss per share (vs US$12.93 profit in FY 2024) Full year 2025 results: US$0.69 loss per share (down from US$12.93 profit in FY 2024). Revenue: US$462.1m (up 9.9% from FY 2024). Net loss: US$5.92m (down 105% from profit in FY 2024). Announcement • Mar 05
Resolute Holdings Management, Inc. and GPGI, Inc. Appoints David Marshall Chief Legal Counsel and Corporate Secretary, Effective March 30, 2026 Resolute Holdings Management, Inc. announced the appointment of David A.P. Marshall as Chief Legal Counsel and Corporate Secretary of Resolute Holdings and GPGI, effective March 30, 2026. Mr. Marshall will report to Tom Knott, Chief Executive Officer of Resolute Holdings. Mr. Marshall joins Resolute Holdings after serving as a Partner of Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York City, where he advised public companies on complex transactions and capital markets matters for nearly a decade. He earned a J.D. and M.P.P. from the University of Toronto and a B.A. from McGill University. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$178, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 24x in the Professional Services industry in the US. Recent Insider Transactions • Nov 23
Independent Director recently bought US$500k worth of stock On the 18th of November, Timothy Mahoney bought around 3k shares on-market at roughly US$153 per share. This transaction amounted to 55% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$1.0m. Insiders have collectively bought US$1.8m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 14
Independent Director recently bought US$1.0m worth of stock On the 7th of November, Timothy Mahoney bought around 6k shares on-market at roughly US$169 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$1.2m more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to US$174, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 24x in the Professional Services industry in the US. Reported Earnings • Nov 04
Third quarter 2025 earnings released: US$0.027 loss per share (vs US$3.28 profit in 3Q 2024) Third quarter 2025 results: US$0.027 loss per share (down from US$3.28 profit in 3Q 2024). Revenue: US$120.9m (up 13% from 3Q 2024). Net loss: US$231.0k (down 101% from profit in 3Q 2024). Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$87.99, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 27x in the Professional Services industry in the US. Announcement • Sep 23
Resolute Holdings Management, Inc.(NYSE:RHLD) dropped from NASDAQ Composite Index Resolute Holdings Management, Inc. has been dropped from the NASDAQ Composite Index Announcement • Jul 15
Resolute Holdings Management, Inc. Announces Board Appointments Resolute Holdings Management, Inc. announced the appointment of two new members to its Board of Directors. Wayne M. Hewett and Timothy O. Mahoney have been appointed to join Resolute Holdings as independent directors. Mr. Wayne Hewett is a seasoned executive leader who currently serves as a Director on the boards of Home Depot (since 2014), Wells Fargo & Company (since 2019), and United Parcel Services, Inc. (since 2020). Since 2018, he has also served as a senior advisor to Permira, a global private equity firm. Since 2019, he has served as Chairman of Cambrex Corporation, a contract developer and manufacturer of active pharmaceutical ingredients; and since 2023, he has served as Chairman of Quotient Sciences, a drug development and manufacturing accelerator. In 2023, he joined the board of managers of ASP Resins Holdings LP, a private company that produces adhesives and performance materials. From 2015 to 2017, Mr. Hewett served as Chief Executive Officer of Klöckner Pentaplast Group, a packaging supplier. Mr. Hewett has previously held several other executive roles, spending over 20 years with General Electric Company (“GE”), including leadership roles in various GE business units and membership on GE’s Corporate Executive Council. Mr. Hewett earned a Bachelor’s and Master’s degree in Industrial Engineering from Stanford University. Mr. Timothy Mahoney is a highly experienced aerospace and defense executive who brings a breadth of operating capabilities from his leadership roles at major industrial companies. He served in several executive roles at Honeywell International, Inc. (“Honeywell”), including Senior Vice President of Digital Transformation from 2019 to 2022, Chief Executive Officer of Honeywell Aerospace from 2009 to 2019, and multiple Vice President roles across Honeywell Aerospace from 2003 to 2009. Prior to Honeywell, Mr. Mahoney spent 18 years at Sikorsky Aircraft, where he held a series of increasingly significant leadership roles. Mr. Mahoney earned a B.S. in Mechanical Engineering from the University of South Florida and graduated from the Program for Management Development at Harvard Business School. Announcement • Apr 21
Resolute Holdings Management, Inc., Annual General Meeting, May 28, 2025 Resolute Holdings Management, Inc., Annual General Meeting, May 28, 2025. 
