Flynn Group entered the Planet Fitness system in 2023 with the acquisition of 37 clubs. This was our first step outside of restaurants and demonstrates the potential for us to grow more broadly across consumer-facing franchise businesses. With more than 2,000 locations, Planet Fitness (NYSE: PLNT) is one of the largest and most popular fitness chains in the world. Planet Fitness possesses a highly recognized brand in the high-value, low-price segment of the market. Its core mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which it calls the Judgement Free Zone®. More than 95% of Planet Fitness stores are owned and operated by independent franchisees, like Alder Partners.