--000000000000008781063dd9dea7 Content-Type: multipart/alternative; boundary="000000000000008781063dd9dea6" --000000000000008781063dd9dea6 Content-Type: text/plain; charset="UTF-8" Content-Transfer-Encoding: quoted-printable Thank you! I was reading it the other way around. That sounds great. *gerri terlecki* Chief Financial Officer | *TheKey* Mobile: 561.879.0132 *From:* Melissa Reyes *Sent:* Tuesday, September 2, 2025 5:29 PM *To:* Geraldine Terlecki *Cc:* Nina Kani ; Timothy Thomas ; Steve Koyanagi *Subject:* Re: CONFIDENTIAL: Kansas City HI Gerri, For clarification, this is someone interested in buying our Kansas City Operation. They will be paying us for the business. Melissa On Tue, Sep 2, 2025 at 3:26=E2=80=AFPM Geraldine Terlecki wrote: Tim: I will need to know the price and see projected P&Ls to estimate a payback period. We do not have cash right now for transactions and there is no appetite for increasing our debt. I am struggling to see how this could work, but we can look at the details. *gerri terlecki* Chief Financial Officer | *TheKey* Mobile: 561.879.0132 *From:* Nina Kani *Sent:* Tuesday, September 2, 2025 3:43 PM *To:* Timothy Thomas *Cc:* Melissa Reyes ; Geraldine Terlecki ; Steve Koyanagi *Subject:* Re: CONFIDENTIAL: Kansas City Thanks Tim, that sounds close to how I recall valuations out of our BD group as well. I have a template Letter of Intent that I can share with you that covers the key topics you'd want to get agreement on, including of course the price as well as timing and personnel, etc. I think a call makes sense to get alignment. On Tue, Sep 2, 2025 at 1:25=E2=80=AFPM Timothy Thomas wrote= : To clarify, we were valued at 6-7x EBITDA during the acquisitions. Happy to meet at your earliest convenience. Thanks On Tue, Sep 2, 2025 at 3:59=E2=80=AFPM Melissa Reyes wrote: Gerri, Steve and Nina, Tim is speaking to the previous Franchise Owner in Kansas City tomorrow at 10:30am and who is potentially interested in an asset sale that includes the license and the team members. NDA has been signed and Tim would like to be able to discuss the asking price. Tim shared from experience it is typically 6-7% of net revenue. Can you advise how we should proceed? Please let me know if you would like to jump on a call to discuss in more detail. Ultimately want to arm Tim with something for tomorrow morning. Thank you --=20 *Melissa Reyes * President of Client Services (916)743-0530 melissa.reyes@thekey.com TheKey.com [image: TheKey] --=20 *Nina Kani * General Counsel and Chief Compliance Officer *Please note my email has changed: * nkani@thekey.com 650-416-1496 *TheKey.com * [image: TheKey] --=20 *Melissa Reyes* President of Client Services (916)743-0530 --000000000000008781063dd9dea6 Content-Type: text/html; charset="UTF-8" Content-Transfer-Encoding: quoted-printable <spa