Liabilities & Owner's Equity Finances Plant Improvements Total Investments (5000) Accounts Payable : 5.2% Current Debt: 0% $0 Retained Earnings : 33.1% SO - Long Term Debt: 34.4 % Sales of Plant & Equipment Common Stock Shares Outstanding (000) O 2,874 Price Per Share on $ 40.35 Earnings Per Share Common Stock : 27.2% $ 8.04 Max Stock Issue (9000) $ 23,193 Issue Stock ($000) O $ 0 0 Max Stock Retire ($000) O Long Term Debt Retire Long Term Debt ($000) O Issue Long Term Debt ($000) O Long Term Interest Rate Maximum Issue This Year O $ 5,798 $ 0 Retire Stock ($000) O $ 0 12.0% $ 25,654 $ 0.00 Dividend Per Share Current Debt Interest Rate 10.6% Due This Year $ 6,950 Borrow ($000) O $ 0 A/R Lag (days) 30 A/P Lag (days) A/ 30 Outstanding Bonds Series Number 0 Face Amount O Current Yield O 2023 Close 12.552025 $ 13,900 12.4% $ 100.85 14.0S2027 $ 20,850 13.2% $ 106.07 11.352032 $ 18,900 11.7% 11.882033 $ 11,000 11.9% $ 98.87 Cash Positions December 31, 2023 December 31, 2024 $ 38,664 $ 96.27 67,124 Selected Financial Statistics Andrews 2.5% 1.08 2.7% Baldwin 2.3% 0.88 2.0% Chester 5.8% 1.18 6.9% Digby 3.8% 1.00 3.8% Erie 4.0% 0.88 3.6% Ferris 5.3% 1.23 6.5% 1.9 2.4 1.8 2.5 2.1 2.0 ROS Asset Turnover ROA Leverage (Assets/Equity) ROE Emergency Loan Sales EBIT Profits Cumulative Profit SG&A / Sales Contrib. Margin % 5.2% $0 $187,105,000 $16,117,452 $4,652,936 $13,764,167 13.9% 28.7% 4.9% $0 $105,488,180 $11,796,580 $2,421,558 $13,383,132 16.2% 34.6% 12.2% $0 $132,221,879 $17,249,801 $7,685,362 $15,921,857 12.3% 31.3% 9.6% $0 $136,521,348 $17,425,939 $5,145,246 $13,863,087 14.0% 32.7% 7.3% $0 $104,037,398 $13,387,708 $4,202,100 $12,851,034 11.3% 31.7% 13.1% $0 $123,414,359 $15,603,850 $6,547,241 $16,835,075 14.9% 31.7% Percent of Sales C130387_002 $ Market Share C130387_002 100% 90% 80% Profit Other SGA Depr Var Costs 70% 60% 50% 40% 30% 20% 10% 0% Andrews 23.72 % Baldwin 13.37 % Chester 16.76 % Digby 17.31 % Erie 13.19 % Ferris 15.65 % Andrews Chester Digby Erie Ferris CAPSTONE Financial Summary COURIER C130387_002 Round: 2 December 31, 2023 Andrews Baldwin Chester Digby Erie Ferris $4,653 $2,422 $7,685 $5,145 $4,202 $6,547 Cash Flow Statement Survey Cash flows from operating activities Net Income (Loss) Adjustment for non-cash items: Depreciation Extraordinary gains/losses/writeoffs Changes in current assets and liabilities: Accounts payable Inventory Accounts receivable Net cash from operations $10,133 $0 $7,647 $10 $7,707 $81 $7,413 $7 $8,255 ($539) $5,927 ($797) $4,276 ($6,287) ($3,948) $8,827 ($457) ($6,861) $1,396 $4,156 $1,036 ($3,321) ($1,317) $11,871 $1,803 ($6,628) ($1,776) $5,964 ($526) $422 $412 $12,226 $1,330 ($6,508) ($954) $5,544 ($41,600) ($4,130) ($5,640) ($19,020) ($7,792) ($6,910) Cash flows from investing activities Plant improvements (net) Cash flows from financing activities Dividends paid Sales of common stock Purchase of common stock Cash from long term debt issued Early retirement of long term debt Retirement of current debt Cash from current debt borrowing Cash from emergency loan $0 $19,000 $0 $11,000 $0 $0 $0 $0 ($4,832) $0 $0 $567 $0 ($20,343) $23,555 $0 ($1,872) $0 ($290) $0 ($2,207) ($6,454) $10,030 $0 $0 $3,611 $0 $9,873 $0 ($20,343) $22,084 $0 ($3,596) $0 $0 $1,869 $0 ($11,359) $14,790 $0 ($3,035) $0 $0 $0 ($1,527) ($11,359) $18,195 $0 Net cash from financing activities $30,000 ($1,052) ($792) $15,226 $1,705 $2,275 Net change in cash position ($2,773) ($1,026) $5,439 $2,169 $6,139 $909 Liabilities & Owner's Equity Finances Plant Improvements Total Investments (5000) Accounts Payable : 5.2% Current Debt: 0% $0 Retained Earnings : 33.1% SO - Long Term Debt: 34.4 % Sales of Plant & Equipment Common Stock Shares Outstanding (000) O 2,874 Price Per Share on $ 40.35 Earnings Per Share Common Stock : 27.2% $ 8.04 Max Stock Issue (9000) $ 23,193 Issue Stock ($000) O $ 0 0 Max Stock Retire ($000) O Long Term Debt Retire Long Term Debt ($000) O Issue Long Term Debt ($000) O Long Term Interest Rate Maximum Issue This Year O $ 5,798 $ 0 Retire Stock ($000) O $ 0 12.0% $ 25,654 $ 0.00 Dividend Per Share Current Debt Interest Rate 10.6% Due This Year $ 6,950 Borrow ($000) O $ 0 A/R Lag (days) 30 A/P Lag (days) A/ 30 Outstanding Bonds Series Number 0 Face Amount O Current Yield O 2023 Close 12.552025 $ 13,900 12.4% $ 100.85 14.0S2027 $ 20,850 13.2% $ 106.07 11.352032 $ 18,900 11.7% 11.882033 $ 11,000 11.9% $ 98.87 Cash Positions December 31, 2023 December 31, 2024 $ 38,664 $ 96.27 67,124 Selected Financial Statistics Andrews 2.5% 1.08 2.7% Baldwin 2.3% 0.88 2.0% Chester 5.8% 1.18 6.9% Digby 3.8% 1.00 3.8% Erie 4.0% 0.88 3.6% Ferris 5.3% 1.23 6.5% 1.9 2.4 1.8 2.5 2.1 2.0 ROS Asset Turnover ROA Leverage (Assets/Equity) ROE Emergency Loan Sales EBIT Profits Cumulative Profit SG&A / Sales Contrib. Margin % 5.2% $0 $187,105,000 $16,117,452 $4,652,936 $13,764,167 13.9% 28.7% 4.9% $0 $105,488,180 $11,796,580 $2,421,558 $13,383,132 16.2% 34.6% 12.2% $0 $132,221,879 $17,249,801 $7,685,362 $15,921,857 12.3% 31.3% 9.6% $0 $136,521,348 $17,425,939 $5,145,246 $13,863,087 14.0% 32.7% 7.3% $0 $104,037,398 $13,387,708 $4,202,100 $12,851,034 11.3% 31.7% 13.1% $0 $123,414,359 $15,603,850 $6,547,241 $16,835,075 14.9% 31.7% Percent of Sales C130387_002 $ Market Share C130387_002 100% 90% 80% Profit Other SGA Depr Var Costs 70% 60% 50% 40% 30% 20% 10% 0% Andrews 23.72 % Baldwin 13.37 % Chester 16.76 % Digby 17.31 % Erie 13.19 % Ferris 15.65 % Andrews Chester Digby Erie Ferris CAPSTONE Financial Summary COURIER C130387_002 Round: 2 December 31, 2023 Andrews Baldwin Chester Digby Erie Ferris $4,653 $2,422 $7,685 $5,145 $4,202 $6,547 Cash Flow Statement Survey Cash flows from operating activities Net Income (Loss) Adjustment for non-cash items: Depreciation Extraordinary gains/losses/writeoffs Changes in current assets and liabilities: Accounts payable Inventory Accounts receivable Net cash from operations $10,133 $0 $7,647 $10 $7,707 $81 $7,413 $7 $8,255 ($539) $5,927 ($797) $4,276 ($6,287) ($3,948) $8,827 ($457) ($6,861) $1,396 $4,156 $1,036 ($3,321) ($1,317) $11,871 $1,803 ($6,628) ($1,776) $5,964 ($526) $422 $412 $12,226 $1,330 ($6,508) ($954) $5,544 ($41,600) ($4,130) ($5,640) ($19,020) ($7,792) ($6,910) Cash flows from investing activities Plant improvements (net) Cash flows from financing activities Dividends paid Sales of common stock Purchase of common stock Cash from long term debt issued Early retirement of long term debt Retirement of current debt Cash from current debt borrowing Cash from emergency loan $0 $19,000 $0 $11,000 $0 $0 $0 $0 ($4,832) $0 $0 $567 $0 ($20,343) $23,555 $0 ($1,872) $0 ($290) $0 ($2,207) ($6,454) $10,030 $0 $0 $3,611 $0 $9,873 $0 ($20,343) $22,084 $0 ($3,596) $0 $0 $1,869 $0 ($11,359) $14,790 $0 ($3,035) $0 $0 $0 ($1,527) ($11,359) $18,195 $0 Net cash from financing activities $30,000 ($1,052) ($792) $15,226 $1,705 $2,275 Net change in cash position ($2,773) ($1,026) $5,439 $2,169 $6,139 $909