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Project Granite Sell-Side Pitch

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Project Alpine — CIMExportShare
Comment

Market overview

Granite Peak serves a $46 billion US market growing 5.2% annually, in which two-thirds of supply sits with sub-scale shops.

US PRECISION-MACHINED COMPONENTS — 2025 SEGMENT MIX
$0B$10B$20B$30B$40B$46B
$19.8B
$12.4B
$13.8B

2025 market

Aerospace & defense

$19.8B · 43% of the market

Build-rate recovery and reshoring of flight-critical content

Medical

$12.4B · 27% of the market

Procedure volume growth and device families migrating to titanium

Industrial & other

$13.8B · 30% of the market

Automation and semiconductor capital spending

Approximately 68% of market supply sits with shops under $25M of revenue, most of them single-site and single-process.

MARKET GROWTH, 2025–2030
$0B$10B$20B$30B$40B$50B$60B$70B
+5.2% CAGR

$46B

$59B

2025A2030E

Reshoring and OEM approved-vendor consolidation concentrate this spend with qualified, multi-site suppliers.

Granite Peak’s $85.2M of FY2025 revenue represents less than 0.2% of the addressable market — growth is a function of share capture and qualification, not of market expansion.

Source: Meridian Insights, US Precision Machined Components Outlook (2025). Segment values are illustrative and may not sum due to rounding.

Crow Capital MarketsCONFIDENTIAL  |  16

Market overview

Granite Peak serves a $46 billion US market growing 5.2% annually.

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Project Alpine — CIM — chart data

Writing

This sheet is the data for the chart “Revenue & margin” in the deck “Project Alpine - CIM”.

CategoryRevenueAdj. EBITDA margin
2FY2023A95.812.0
3FY2024A106.512.8
4FY2025A118.013.7
5FY2026B131.513.8
6FY2027E142.714.0
7FY2028E153.914.2
8FY2029E165.414.3
9FY2030E177.114.4
Linked

Deck · slide 14 · Combo

Revenue & margin
FY2023AFY2024AFY2025AFY2026BFY2027EFY2028EFY2029EFY2030E
RevenueAdj. EBITDA margin

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In this deckAgent AAgent BWR. WhitfieldOA. Osei

6

Agent is working…
Agent A

7

8

Adjusted EBITDA margin|
R. Whitfield

9

R. Whitfield

10

Agent is working…
Agent B

11

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Granite — CIM.pdfQuality of earnings.xlsxOperating model v4.xlsxBoard pack.pptx

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Market overview

Granite Peak serves a $46 billion US market growing 5.2% annually, in which two-thirds of supply sits with sub-scale shops.

US PRECISION-MACHINED COMPONENTS — 2025 SEGMENT MIX
$0B$10B$20B$30B$40B$46B
$19.8B
$12.4B
$13.8B

2025 market

Aerospace & defense

$19.8B · 43% of the market

Build-rate recovery and reshoring of flight-critical content

Medical

$12.4B · 27% of the market

Procedure volume growth and device families migrating to titanium

Industrial & other

$13.8B · 30% of the market

Automation and semiconductor capital spending

Approximately 68% of market supply sits with shops under $25M of revenue, most of them single-site and single-process.

MARKET GROWTH, 2025–2030
$0B$10B$20B$30B$40B$50B$60B$70B
+5.2% CAGR

$46B

$59B

2025A2030E

Reshoring and OEM approved-vendor consolidation concentrate this spend with qualified, multi-site suppliers.

Granite Peak’s $85.2M of FY2025 revenue represents less than 0.2% of the addressable market — growth is a function of share capture and qualification, not of market expansion.

Source: Meridian Insights, US Precision Machined Components Outlook (2025). Segment values are illustrative and may not sum due to rounding.

Crow Capital MarketsCONFIDENTIAL  |  16

Comment

R

R. Whitfield just now

Aerospace looks like the FY2024 figure. Meridian revised it to $19.8B.

A

A. Osei just now

Agreed, and the segments should sum to $46B exactly.

J

J. Cheng just now

Footnote the revision so the buyer can tie it out.

Reply…

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Project Alpine - CIM

ExportShare

Market overview

Granite Peak serves a $46 billion US market growing 5.2% annually, in which two-thirds of supply sits with sub-scale shops.

US PRECISION-MACHINED COMPONENTS — 2025 SEGMENT MIX
$0B$10B$20B$30B$40B$46B
$19.8B
$12.4B
$13.8B

2025 market

Aerospace & defense

$19.8B · 43% of the market

Build-rate recovery and reshoring of flight-critical content

Medical

$12.4B · 27% of the market

Procedure volume growth and device families migrating to titanium

Industrial & other

$13.8B · 30% of the market

Automation and semiconductor capital spending

Approximately 68% of market supply sits with shops under $25M of revenue, most of them single-site and single-process.

MARKET GROWTH, 2025–2030
$0B$10B$20B$30B$40B$50B$60B$70B
+5.2% CAGR

$46B

$59B

2025A2030E

Reshoring and OEM approved-vendor consolidation concentrate this spend with qualified, multi-site suppliers.

Granite Peak’s $85.2M of FY2025 revenue represents less than 0.2% of the addressable market — growth is a function of share capture and qualification, not of market expansion.

Source: Meridian Insights, US Precision Machined Components Outlook (2025). Segment values are illustrative and may not sum due to rounding.

Crow Capital MarketsCONFIDENTIAL  |  16

Share

Live documentPublished version

Publish new version

MD Review

Updated just now · Faraaz

Up to date

Viewers see the frozen state you published. Their comments land on the live document.

Done

Project Alpine - CIM — MD Review

Published August 18 at 6:39 PM

Market overview

Granite Peak serves a $46 billion US market growing 5.2% annually, in which two-thirds of supply sits with sub-scale shops.

US PRECISION-MACHINED COMPONENTS — 2025 SEGMENT MIX
$0B$10B$20B$30B$40B$46B
$19.8B
$12.4B
$13.8B

2025 market

Aerospace & defense

$19.8B · 43% of the market

Build-rate recovery and reshoring of flight-critical content

Medical

$12.4B · 27% of the market

Procedure volume growth and device families migrating to titanium

Industrial & other

$13.8B · 30% of the market

Automation and semiconductor capital spending

Approximately 68% of market supply sits with shops under $25M of revenue, most of them single-site and single-process.

MARKET GROWTH, 2025–2030
$0B$10B$20B$30B$40B$50B$60B$70B
+5.2% CAGR

$46B

$59B

2025A2030E

Reshoring and OEM approved-vendor consolidation concentrate this spend with qualified, multi-site suppliers.

Granite Peak’s $85.2M of FY2025 revenue represents less than 0.2% of the addressable market — growth is a function of share capture and qualification, not of market expansion.

Source: Meridian Insights, US Precision Machined Components Outlook (2025). Segment values are illustrative and may not sum due to rounding.

Crow Capital MarketsCONFIDENTIAL  |  16

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Viewing Aug 18, 6:11 PM

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Today

Checkpoint · 6:41 PM

Pitchcrow edited 8 slides

6:33 PM · 8 slides · Live version

Checkpoint · 6:35 PM

Checkpoint · 6:27 PM

Pitchcrow edited 4 slides

6:26 PM · 4 slides

Checkpoint · 6:11 PM

Pitchcrow edited 1 slide

6:11 PM · 1 slide

Checkpoint · 5:50 PM

F

Faraaz edited 1 slide

5:46 PM · 1 slide

Pitchcrow edited 35 slides

4:52 PM · 35 slides

Deck created · 3:43 PM

Click any entry to view the document as it was.

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