Exhibit (c)(5)

 

January 16, 2026 Project Boson Discussion Materials for the Special Committee STRICTLY PRIVATE & CONFIDENTIAL — BofA SECURITIES~~

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Situation Overview 1 Boson Public Markets Perspectives 2 Boson Preliminary Financial Analysis 6 Appendix 14 Table of Contents

Situation Overview 1 Background ▪ On November 25, 2025, LGP has submitted a preliminary proposal to acquire 100% of the common stock of MCW at $6.25 per share Purchase Price ▪ Offer Price: $6.25 per share ▪ Premium to 30-day trailing average price ($5.12 as of 11/24/25): 22% ▪ Premium to unaffected price ($4.79 as of 10/17/25): 30% ▪ Premium to closing price ($5.99 as of 01/13/26): 4% ▪ Equity Value: $2,081mm ▪ Implied Enterprise Value(1): $2,890mm Financing ▪ LGP would finance the transaction with a combination of rollover equity and new debt ▪ Under the proposal, LGP would roll its 219 million shares ▪ LGP believes that at least $1.7bn of funded debt is available to finance this transaction, and would be sufficient to buy out the public shareholders and to pay all related fees and expenses ▪ LGP does not anticipate this transaction will require any additional new equity capital Time to Sign ▪ 30 days Outstanding Diligence & Definitive Documentation ▪ No outstanding diligence given existing ownership ▪ Execution of definitive documentation would be subject to: (a) receipt of financing commitments necessary to complete this transaction (which LGP is confident will be available to them); and (b) negotiation of a satisfactory merger agreement with customary representations, warranties, covenants and conditions contained in acquisitions of public companies ____________________ (1) LGP bid calculated based on Boson net debt balance of $809mm, consisting of Q3 2025A total debt of $845mm and cash & cash equivalents of $36mm as of 9/30/2025.

Boson Public Markets Perspectives

Boson Core Comps (1) Other Reference Comps SP50 L1Y (28.0%) (10.8%) 22.5% 15.4% L2Y (39.4%) (5.9%) 55.5% 40.8% L3Y (51.0%) (28.5%) (34.6%) 68.4% Since IPO (70.5%) (27.1%) (13.9%) 62.7% Summary Performance Boson Core Comps (1) Other Reference Comps SP50 1-Month 6.6% 1.2% 0.6% 2.0% 6-Month (9.5%) (16.4%) 3.3% 11.2% L1Y (15.6%) (5.1%) 7.4% 19.3% Summary Performance 50% 60% 70% 80% 90% 100% 110% 120% 130% 140% Jan-25 Mar-25 Jun-25 Aug-25 Nov-25 Jan-26 0% 60% 120% 180% Jun-21 May-22 Apr-23 Mar-24 Feb-25 Jan-26 Mister Car Wash, Inc. Current Price (1/13/2026) $5.99 52-Week High (2/28/2025) 8.49 52-Week Low (10/13/2025) 4.68 Equity Value $1,994 (–) Cash & Equivalents (36) (+) Debt and Finance Leases 845 (+) NCI — Enterprise Value $2,803 Valuation Metrics CY Period 2025E 2026E 2027E EV / Adj. EBITDA 8.2x 7.6x 7.1x P / E 13.9x 12.7x 11.4x Leverage Ratio 2.3x 2.0x 1.7x 2 Public Market Overview LTM Share Price Performance Boson Public Market Overview (Indexed to 100) (Indexed to 100) Share Price Performance Since IPO (15.6%) +7.4% (5.1%) +19.3% (2) (70.5%) (13.9%) (27.1%) +62.7% (2) ____________________ Source: Company filings and FactSet as of January 13, 2026. Note: Adj. EBITDA figures unburdened for stock-based compensation and reconciled for interest expense, depreciation and amortization expense, gain/loss on sale, acquisition expenses, non-cash rent expense, loss on extinguishment of debt, employee retention credit, and other. Balance sheet as of 3Q25. (1) Peers include Valvoline (VVV) and Driven Brands (DRVN). (2) Peers include O’Reilly (ORLY), Boyd (BYD-CA), Autozone (AZO), Advance Auto Parts (AAP) and Monro (MNRO). Advance Auto Parts had +60% EPS beat in Q2 2025 which resulted in stock price jump. (3) Represents stock price performance during next and current trading session for Q3 earnings and sale leak report, respectively. (4) Valuation metrics based on street consensus. MCW delivered strong Q3’25 earnings, beating SSSg, Sales and Adj. EBITDA consensus estimates +8.5%(3) October 29, 2025 News reports hint at MCW sale amid potential strategic review process +6.5%(3) October 20, 2025 (4)

3 Historical Valuation Overview 5x 10x 15x 20x 25x 30x Jun-21 Mar-22 Dec-22 Oct-23 Jul-24 Apr-25 Jan-26 7.6x 8.8x EV / NTM Adj. EBITDA Since IPO (1) ____________________ Source: FactSet as of January 13, 2026. Note: Adj. EBITDA figures unburdened for stock-based compensation and reconciled for interest expense, depreciation and amortization expense, gain/loss on sale, acquisition expenses, non-cash rent expense, loss on extinguishment of debt, employee retention credit, and other. Figures on this page based on FactSet consensus estimates and using Boson’s reported Q3 net debt. (1) Peers include Valvoline (VVV) and Driven Brands (DRVN). Boson Core Comps Since IPO 12.9x 11.9x L4Y 11.5x 11.5x L3Y 10.0x 11.1x L2Y 9.3x 10.3x L1Y 8.3x 9.8x L6M 7.4x 9.3x L3M 7.1x 8.7x L1M 7.4x 8.6x Summary Averages

6x 13x 20x 27x Dec-21 Oct-22 Aug-23 May-24 Mar-25 Jan-26 4 8.2x 9.7x EV / LTM Adj. EBITDA (1) ____________________ Source: FactSet as of January 13, 2026. Note: LTM data only available up till September 2025 due to lack of actual LTM figures from quarterly releases after September 2025. Adj. EBITDA figures unburdened for stock-based compensation and reconciled for interest expense, depreciation and amortization expense, gain/loss on sale, acquisition expenses, non-cash rent expense, loss on extinguishment of debt, employee retention credit, and other. Figures on this page based on FactSet consensus estimates and using Boson’s reported Q3 net debt. (1) Peers include Valvoline (VVV) and Driven Brands (DRVN). Boson Core Comps Since IPO 12.7x 12.8x L4Y 12.5x 12.3x L3Y 10.8x 11.9x L2Y 10.1x 11.4x L1Y 8.9x 10.6x L6M 7.9x 10.3x L3M 7.6x 9.8x L1M 8.0x 9.6x Summary Averages Historical Valuation Overview (Cont’d)

69% 70% 72% 72% 68% 68% 68% 68% 67% 67% 66% 66% 25% 22% 22% 22% 26% 26% 26% 26% 28% 28% 26% 26% 6% 6% 6% 6% 5% 5% 6% 6% 6% 6% 5% 5% 0.00 4.00 8.00 12.00 0% 20% 40% 60% 80% 100% Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Price ($) 8.00 Share Price Target Price Buy Hold Sell 5 Boson Broker’s Outlook ____________________ Source: FactSet as of January 13, 2026. Note: * denotes sort order. Adj. EBITDA figures unburdened for stock-based compensation and reconciled for interest expense, depreciation and amortization expense, gain/loss on sale, acquisition expenses, non-cash rent expense, loss on extinguishment of debt, employee retention credit, and other. (1) Excludes BTIG as they do not report price targets. (2) Based on share price of $5.99 as of January 13, 2026. $5.99 $8.00 Stock FY 2025E FY 2026E Date* Select Brokers Rating Price Target Revenue Adj. EBITDA EPS Revenue Adj. EBITDA EPS 01/08/2026 Mizuho Securities USA Buy $8.00 $1,052 $341 $0.43 $1,126 $367 $0.47 01/06/2026 Wells Fargo Securities Buy $7.00 $1,050 $342 $0.43 $1,112 $364 $0.47 11/6/2025 JP Morgan Buy $8.50 $1,054 $342 $0.42 $1,115 $367 $0.46 10/31/2025 Stifel Nicolaus Hold $7.50 $1,053 $342 $0.43 $1,131 $373 $0.46 10/30/2025 Stephens Buy $6.25 $1,054 $340 $0.43 $1,138 $357 $0.47 10/30/2025 Morgan Stanley Hold $7.50 $1,052 $342 $0.43 $1,122 $371 $0.48 10/30/2025 William Blair Buy $10.00 $1,051 $343 $0.43 $1,128 $372 $0.49 10/30/2025 Jefferies Buy $11.00 $1,054 $342 $0.43 $1,134 $378 $0.50 10/30/2025 BMO Capital Markets Buy $9.00 $1,054 $343 $0.43 $1,135 $364 $0.47 10/30/2025 Guggenheim Securities Buy $8.00 $1,058 $342 — $1,133 $366 $0.41 10/30/2025 Raymond James Buy $8.00 $1,053 $343 $0.43 $1,125 $371 $0.47 10/30/2025 Piper Sandler Companies Hold $6.00 $1,054 $341 $0.43 $1,104 $353 $0.45 10/30/2025 BTIG Hold — $1,051 $342 $0.44 $1,129 $370 $0.51 10/30/2025 Goldman Sachs Sell $5.25 $1,051 $341 $0.42 $1,113 $362 $0.44 10/29/2025 Baird Buy $8.00 $1,052 $341 $0.42 $1,111 $360 $0.52 10/29/2025 UBS Hold $6.25 $1,051 $342 $0.43 $1,130 $406 $0.53 Median $8.00 $1,052 $342 $0.43 $1,128 $367 $0.47 % Upside to Current Share Price 33.6% (1) (1) (2) ==—=-==========================——-=-======== ==-=—_=_ -=_ -=== ==-=-=====——=-=—— =—=—= ==—=== ===============_== _=-== -=— ================

Boson Preliminary Financial Analysis

6 Boson Financial Summary Management Projections Historical Management Projections CAGR / Δ CAGR / Δ Fiscal Year Ending December 31, in Margin in Margin 2022A 2023A 2024A 2025E 2026E 2027E 2028E 2029E 2030E ‘22A—‘24A ‘25E—‘30E Location Count 436 476 514 544 584 629 677 729 783 8.6% 7.6% Change in Location Count, Net 40 40 38 30 40 45 48 52 54 Greenfield Locations 28 35 38 30 30 35 38 42 44 Acquired Locations 12 6 -—- 10 10 10 10 10 Total Revenue $877 $927 $995 $1,057 $1,124 $1,221 $1,337 $1,472 $1,620 6.5% 8.9% % Mature SSS 1.0% (0.8%) 0.4% 2.9% 3.4% 4.2% 4.4% % Ramping SSS 2.0% 3.8% 2.0% 1.6% 1.4% 1.3% 1.4% % Total SSS 5.0% 0.3% 3.0% 3.0% 2.4% 4.5% 4.7% 5.6% 5.8% % Growth 15.6% 5.8% 7.3% 6.2% 6.4% 8.7% 9.5% 10.0% 10.1% Total 4-Wall EBITDAR $438 $459 $503 $536 $564 $609 $660 $726 $802 7.2% 8.4% Plus: M&A 4-Wall Contribution — 4 9 17 26 34 Less: Cost of Rent (88) (100) (110) (122) (130) (139) (151) (165) (181) Total 4-Wall EBITDA $350 $358 $393 $414 $437 $479 $527 $587 $656 6.0% 9.6% % Margin 39.9% 38.7% 39.5% 39.2% 38.9% 39.2% 39.4% 39.9% 40.5% (36bps) 132bps Less: Corporate Expenses (68) (73) (72) (70) (73) (76) (79) (81) (84) Total Adj. EBITDA $282 $286 $321 $343 $364 $403 $448 $506 $572 6.7% 10.7% % Margin 32.1% 30.8% 32.3% 32.5% 32.4% 33.0% 33.5% 34.4% 35.3% 13bps 278bps Memo: Selected Cash Flow Items Greenfield Capex $146 $271 $283 $206 $252 $278 $304 $334 $358 Acquisition Purchase Price CapEx -———- 70 70 70 70 70 Other Capex (2) 45 60 46 60 68 72 76 80 84 Total CapEx $192 $331 $329 $266 $390 $420 $450 $484 $513 % of Total Revenue 21.9% 35.7% 33.1% 25.2% 34.7% 34.4% 33.6% 32.9% 31.6% Sale-Leaseback Proceeds $90 $120 $129 $45 $82 $135 $180 $204 $230 % of Total Revenue 10.3% 12.9% 13.0% 4.3% 7.3% 11.1% 13.5% 13.9% 14.2% Depreciation & Amortization (3) $62 $70 $81 $86 $89 $92 $95 $97 $100 % of Total Revenue 7.0% 7.5% 8.2% 8.1% 7.9% 7.5% 7.1% 6.6% 6.2% Change in Net Working Capital $19 $10 $28 $6 $8 $9 $10 $10 $11 % of Change in Total Revenue 16.3% 20.7% 41.8% 9.7% 12.2% 9.1% 8.3% 7.8% 7.7% Free Cash Flow (4) $236 $238 $277 $283 $305 $340 $382 $435 $496 % of Total Revenue 27.0% 25.6% 27.9% 26.8% 27.1% 27.9% 28.5% 29.5% 30.6% ____________________ Source: Boson Management and Public Filings as of September 2025. Boson Management projections. Note: U.S Dollars in millions. Adj. EBITDA figures unburdened for stock-based compensation and reconciled for interest expense, depreciation and amortization expense, gain/loss on sale, acquisition expenses, non-cash rent expense, loss on extinguishment of debt, employee retention credit, and other. (1) 40 new greenfield opening, with one relocation resulting in 39 net new greenfield. Additionally, one unit was closed during the period so the total net store growth is 38. (2) Consists of growth capex, maintenance capex, and integration capex. (3) Represents book Depreciation & Amortization and excludes bonus depreciation. (4) Free cash flow calculated as Total Adjusted EBITDA less core store capex. Core store capex consists of maintenance and growth capex. 2022 core store capex assumed equal to other capex. (1) ——-7 I II II II II 11 II II II 11 II II II II II 11 II II II II II II II II II 11 II II II 11 II II II II II II 11 II II II 11 II 11 II II II II 11 II II II II II 11 II II II II II II II ——-7 I I I I I I I J L ________ _

7 Management Case vs. Wall Street Consensus Estimates Fiscal Year Ending December 31, CAGR 2024A 2025E 2026E 2027E 24A—27E Boson Projections 3.0% 3.0% 2.4% 4.5% Wall Street Consensus 3.0% 2.5% 2.4% 3.0% % Δ — 0.5% 0.1% 1.5% Boson Projections 38 30 30 35 (2.7%) Wall Street Consensus 38 35 32 34 (3.6%) Δ — (5) (2) 1 % Δ — (0) (0) 0 Boson Projections $995 $1,057 $1,115 $1,199 6.4% Wall Street Consensus 995 1,053 1,128 1,207 6.7% $ Δ — 4 (13) (8) % Δ — 0.4% (1.2%) (0.7%) Boson Projections $321 $343 $360 $394 7.1% Wall Street Consensus 321 342 367 398 7.4% $ Δ — 2 (7) (4) % Δ — 0.5% (1.8%) (1.0%) Boson Projections 32.3% 32.5% 32.3% 32.9% 0.6% Wall Street Consensus 32.3% 32.4% 32.5% 33.0% 0.7% % Δ — 0.1% (0.2%) (0.1%) Adj. EBITDA Margin(2) Same Store Sales Growth Revenue (2) Adj. EBITDA(2) Net New Stores (1) ____________________ Source: Boson Management, Public Filings and FactSet as of December 29, 2025. Note: U.S Dollars in millions (except per share values). Boson fiscal year ending December 31. Wall Street Consensus represents mean figures. Adj. EBITDA figures unburdened for stock-based compensation and reconciled for interest expense, depreciation and amortization expense, gain/loss on sale, acquisition expenses, non-cash rent expense, loss on extinguishment of debt, employee retention credit, and other. (1) Reflects net new stores adds not inclusive of any contemplated M&A. (2) Excludes M&A contribution.

8 Boson Analysis at Various Prices ____________________ Source: Boson Management, Public Filings as of September 2025 and FactSet as of January 13, 2026. Note: U.S Dollars in millions (except per share values). Boson fiscal year ending December 31. Adj. EBITDA figures unburdened for stock-based compensation and reconciled for interest expense, depreciation and amortization expense, gain/loss on sale, acquisition expenses, non-cash rent expense, loss on extinguishment of debt, employee retention credit, and other. (1) Unaffected date as of October 17, 2025. (2) Based on closing price over the past 52 weeks. (3) Boson fully diluted share count based on 327.568 basic common shares outstanding, 10.506 stock options with a weighted average exercise price of $6.55, and 5.402 RSUs pursuant to the Treasury Stock Method as of 09/30/25. (4) Boson current net debt balance of $781mm based on FY2025A total debt of $810mm and cash & equivalents of $28mm estimates provided on 1/7/2026. Estimates are preliminary, subject to change and represent unaudited financials. (5) As per Boson management projections. Current LGP Offer Boson Share Price $5.99 $6.00 $6.25 $6.50 $6.75 $7.00 $7.25 $7.50 $7.75 Premium / (Discount) to: Metric Unaffected Price(1) $4.79 25.1% 25.3% 30.5% 35.7% 40.9% 46.1% 51.4% 56.6% 61.8% Current Price $5.99 — 0.2% 4.3% 8.5% 12.7% 16.9% 21.0% 25.2% 29.4% 52-Week High (2) $8.49 (29.4%) (29.3%) (26.4%) (23.4%) (20.5%) (17.6%) (14.6%) (11.7%) (8.7%) 52-Week Low (2) $4.68 28.0% 28.2% 33.5% 38.9% 44.2% 49.6% 54.9% 60.3% 65.6% 30-Day VWAP $5.63 6.4% 6.6% 11.0% 15.4% 19.9% 24.3% 28.8% 33.2% 37.6% 90-Day VWAP $5.34 12.2% 12.4% 17.1% 21.8% 26.5% 31.1% 35.8% 40.5% 45.2% Analyst Price Target (Median) $8.00 (25.1%) (25.0%) (21.9%) (18.8%) (15.6%) (12.5%) (9.4%) (6.3%) (3.1%) Implied Equity Value (3) $1,994 $1,998 $2,081 $2,164 $2,250 $2,336 $2,421 $2,507 $2,593 Plus: Net Debt (as of FY25) (4) 781 781 781 781 781 781 781 781 781 Implied Enterprise Value $2,776 $2,779 $2,862 $2,945 $3,031 $3,117 $3,203 $3,288 $3,374 Implied Multiples: Metric (5) FY 2025E 343 8.1 8.1 8.3 8.6 8.8 9.1 9.3 9.6 9.8 FY 2026E 364 7.6 7.6 7.9 8.1 8.3 8.6 8.8 9.0 9.3 EV / Adj. EBITDA

Potential Opportunities and Risks for Mister Car Wash Opportunities (Reflected in the Aug-25 LRP) Risks (Potential Downside to the Aug-25 LRP) ◾ Subsiding of competitive intrusion and corresponding improvement in MCW’s mature cohorts’ performance ◾ Growing market share while keeping cannibalization low ◾ Potential benefits from price increases and premiumization of existing subscriber base ◾ New focused marketing effort and remodel capex to drive improvement in SSS ◾ Benefits of potential recovery in retail volumes ◾ Potential to ramp new Greenfields in line with pre-2023 cohorts ◾ Margin potential from increased revenue per unit ◾ Potential to acquire new, complementary locations at attractive valuations vs. Greenfields ◾ Competitive environment and macro-economic conditions may not normalize ◾ Competitors may become more aggressive with new locations, consumer proposition and/or M&A ◾ Price increases may lead to increased customer churn ◾ Consumer uptake of premium offerings and may be below current expectations ◾ Realized revenue per unit may present downside to margin expectations ◾ Locations may need increased capital expenditures to meet performance expectations ◾ New location strategy and returns (Greenfields and/or M&A) may prove more challenging than anticipated 13 Mister

10 ____________________ Source: Based on public company filings, including most recently filed 10Q and 10K. Estimates per FactSet as of January 13, 2026. Note: * denotes sort order. Enterprise value includes finance leases and excludes operating leases. Metrics represent year ending December. Figures on this page (incl. Boson) based on FactSet consensus estimates. (1) Represents metrics converted from IFRS to GAAP. (2) Adj. EBITDA unburdened for SBC. (3) Adj. EBITDA unburdened for SBC by adding back average CY’23 and CY’24 SBC as % of sales. (4) Adj. EBITDA unburdened for SBC by adding back average CY’24 and CY’25 SBC as % of sales. (5) 2025E SLB proceeds interpolated from historical filings due to no projections available. (6) Represents Gross Capex. (7) NA due to lack of 2026E Capex estimates. (8) Pro forma for Breeze acquisition that closed November 2025. Selected Publicly Traded Companies Benchmarking Valuation Benchmarking Operational Benchmarking Equity Enterprise LTM Stock EV / Adj. EBITDA EV / (EBITDA—Net Capex) P/E Adj. EBITDA Margin Net Leverage Company Value Value Price Δ CY25E CY26E CY25E CY26E * CY 2026E CY26E CY25E $1,994 $2,803 (15.6%) 8.2x 7.6x 15.2x 13.8x 12.7x 32.5% 2.3x 3,997 5,863 (11.2%) 11.5 10.2 15.8 13.6 18.1 27.3% 2.5x 2,662 4,737 0.9% 8.8 8.4 12.7 11.1 10.6 24.8% 3.9 Median (5.1%) 10.2x 9.3x 14.3x 12.3x 14.4x 26.0% 3.2x 80,297 86,033 17.3% 21.5x 19.9x 30.0x 27.8x 28.6x 22.7% 1.4x $59,572 $68,332 8.2% 16.1 15.3 24.3 NA 22.3 21.3% 2.1 4,416 5,316 7.4% 25.8 15.6 27.1 16.2 39.6 8.1% 3.2 632 926 (4.9%) 8.7 8.8 9.9 NA 32.5 8.8% 2.8 2,683 2,959 (5.5%) 5.7 4.8 10.3 8.6 16.1 7.2% 0.5 Median 7.4% 16.1x 15.3x 24.3x 16.2x 28.6x 8.8% 2.1x Other Reference Comps Core Comps (* Based on unaffected stock price) $1,595* $2,404* (26.9%)* 7.1x* 6.6x* 13.2x* 12.0x* (3) (3) (3) (3) (3) (3) (3) (3) (3) (4) (7) (4) (6) (5) (4) (7) (8) ————————————————————————————————————————————————————————————————————————————————————- I I I I I I I ! Mister· ! I I I I I ————————————————————————————————————————————————-———————————————————————————————————————————————————————- . Valvoline. Drive Brands· D Avrozonti .,—....._ MONR01NG Advance/~ · AutoPartslX

Sales YoY Growth Adj. EBITDA YoY Growth EPS YoY Growth Free Cash Flow Margin Company ‘22A—‘23A ‘23A—‘24A ‘24A—‘25E ‘22A—‘23A ‘23A—‘24A ‘24A—‘25E ‘22A—‘23A ‘23A—‘24A ‘24A—‘25E 2023A 2024A 2025E* 5.8% 7.3% 5.8% 1.4% 12.2% 6.4% (20.0%) 15.6% 16.2% (4.5%) (0.9%) 7.8% 13.1% 1.7% (9.8%) 4.6% 3.2% (8.0%) (23.8%) 22.6% 8.2% (1.3%) 12.7% 16.0% 16.8% 13.8% 9.3% (34.4%) 13.4% 10.1% 93.4% 33.6% 2.0% 14.9% 13.9% 13.8% Median 15.0% 7.8% (0.2%) (14.9%) 8.3% 1.1% 34.8% 28.1% 5.1% 6.8% 13.3% 14.9% 9.7% 5.7% 6.2% 8.6% 4.3% 6.7% 15.0% 5.7% 9.6% 16.4% 16.3% 16.0% 21.1% 4.2% 2.8% 33.0% (3.9%) 8.4% 112.2% (65.6%) 26.0% 15.0% 13.1% 14.5% 6.1% 4.2% 5.8% 8.4% 5.2% (1.1%) 11.9% 6.6% 0.1% 18.1% 17.0% 14.5% 1.2% (19.4%) (5.7%) (65.2%) (24.9%) 42.5% (96.2%) (158.0%) 723.4% 2.2% 2.0% 3.1% (3.6%) (5.3%) (3.2%) (9.2%) (20.7%) (10.7%) (9.9%) (48.1%) (23.1%) NA NA NA Median 6.1% 4.2% 2.8% 8.4% (3.9%) 6.7% 11.9% (48.1%) 9.6% 15.7% 14.7% 14.5% Other Reference Comps Core Comps 11 Selected Publicly Traded Companies Historical Figures Benchmarking (2) (1) (5) (5) (5) (3) (3) (3) (3) (3) (3) (3) (3) (3) (4) (4) (4) ____________________ Source: Based on public company filings, including most recently filed 10Q and 10K. Estimates per FactSet as of January 13, 2026. Note: * denotes sort order. MCW figures based on consensus estimates. Adj. EBITDA figures reconciled for interest expense, depreciation and amortization expense, gain/loss on sale, acquisition expenses, non-cash rent expense, loss on extinguishment of debt, employee retention credit, and other. Figures on this page (incl. Boson) based on FactSet consensus estimates. (1) Adj. EBITDA unburdened for SBC. (2) Calculated as (Adj. EBITDA – CapEx) / Sales. (3) Adj. EBITDA unburdened for SBC by adding back average CY’23 and CY’24 SBC as % of sales. (4) Adj. EBITDA unburdened for SBC by adding back average CY’24 and CY’25 SBC as % of sales. (5) NA due to no available Capex information. Mister· Driri Brands· HAvrozone· AttVancef~ · AutoPartsl:.-. MONR01NC

12 Selected Precedent Transactions ____________________ Source: Company filings, press releases, SEC filings and investor presentations. Note: * denotes sort order. (1) Transaction value of $385mm per Driven Brands’ press release on February 25, 2025. $70.2mm adjusted EBITDA represents Driven Brands’ FY2024 Car Wash segment burdened by $6.7mm of Stock-based Compensation results in an unburdened adjusted EBITDA of $76.9mm, per March 12, 2025 8K. Stock-based Compensation was derived by taking the Driven Brands sales over total sales and applying that percentage to total Stock-based Compensation as the company didn’t disclose on a segment basis. (2) Transaction value of $625mm per Valvoline’s press release on February 20, 2025. EV / LTM EBITDA was also disclosed as 10.7x in Valvoline’s press release on February 20, 2025 noting the adjusted EBITDA used is a non-GAAP pro forma measure for the twelve-month period ended October 31, 2024 based upon reported results adjusted for certain normalizing and pro forma activity as a result of buy-side diligence. No mention of Stock-based Compensation in filings. (3) Transaction value of $310mm per Midas’ press release on May 3, 2012. Adjusted FY2012 EBITDA of $32mm per Midas’ Schedule 14D -9 on March 12, 2012. No value of Stock-based Compensation disclosed. (4) Transaction value of $1.0bn per Pep Boys’ press release on February 16, 2012. LTM EBITDA per fiscal year ending January 2011 10K as filed on April 11, 2011 and quarter ending October 2011 per 10Q filed on December 6, 2011. Stock-based compensation for Pep Boy’s was $3.3mm per fiscal year ending January 2011 10K as filed on April 11, 2011 and quarter ending October 2011 per 10Q filed on December 6, 2011 so EBITDA has been unburdened to reflect this amount. (5) Transaction value of $1.0bn per O’Reilly Auto Parts’ press release on April 1, 2008. LTM adjusted EBITDA per fiscal year ending February 2008 10K as filed on April 22, 2008 and quarter ending May 2008 per 8K filed on June 13, 2008. Stockbased compensation was $2.7mm per fiscal year ending February 2008 10K as filed on April 22, 2008 and quarter ending May 2008 per 8K filed on June 13, 2008 so EBITDA has been unburdened to reflect this amount. (6) Transaction value of $20.8mm per Midas’ press release on April 1, 2008. EV / LTM adjusted EBITDA disclosed in Midas’ Schedule 14D-9 on March 12, 2012. No mention of Stock-based Compensation in filings. (7) Transaction value of $170mm per CSK Auto Corp’s press release on December 1, 2005. FY2004 adjusted EBITDA of $20mm per CSK Auto Corp’s 8K on January 9, 2006. No mention of Stock-based Compensation in filings. Date* Target Acquirer EV / LTM Adj. EBITDA There have been a number of private car wash transactions, however, those terms are not publicly available Target Description (1) (2) (3) (4) (5) (6) (7) Feb-25 Feb-25 May-12 Feb-12 Apr-08 Apr-08 Dec-05 Car Wash Automotive Quick Lube & Maintenance Services Automotive Services Tire Shop, Auto Repair, Oil Changes & Maintenance Services Automotive Parts & Accessories Oil Change & Auto Services Aftermarket Auto Parts & Accessories 5.0x 10.7x 9.7x 6.1x 8.8x 10.4x 8.5x Car Wash Business Dr/renBrands· breeze... ~ & AUTO SERVICE” ~......... lCKAUTO

13 Boson Illustrative DCF Analysis Management Projections 2026E 2027E 2028E 2029E 2030E Terminal (1) Net Sales $1,124 $1,221 $1,337 $1,472 $1,620 $1,620 % Growth 6.4% 8.7% 9.5% 10.0% 10.1% Adj. EBITDA (2) $364 $403 $448 $506 $572 $572 % Margin 32.4% 33.0% 33.5% 34.4% 35.3% 35.3% Less: Stock-based Compensation ($31) ($31) ($32) ($33) ($34) ($34) Adj. EBITDA (Burdened for SBC) $333 $372 $416 $472 $537 $537 % Margin 29.7% 30.4% 31.1% 32.1% 33.2% 33.2% Less: Depreciation & Amortization(4) (89) (92) (95) (97) (100) (69) Adj. EBIT (Burdened for SBC) $244 $280 $321 $375 $437 $469 % Margin 21.7% 22.9% 24.0% 25.5% 27.0% 28.9% Less: Taxes (3) (3) (4) (6) (12) (122) Memo: Effective Tax Rate (Incl. of Tax Asset) (3) 1.1% 1.1% 1.4% 1.5% 2.8% 26.0% Tax-Effected Adj. EBIT (Burdened for SBC) $241 $277 $317 $369 $425 $347 Plus: Depreciation & Amortization (4) 89 92 95 97 100 69 Plus: Change in NWC 8 9 10 10 11 2 Less: Capital Expenditures (Excluding Acquisitions) (320) (350) (380) (414) (443) (75) Less: Acquisition Purchase Price CapEx (70) (70) (70) (70) (70) — Plus: Sale-Leaseback Proceeds 82 135 180 204 230 — Unlevered Free Cash Flow $31 $93 $151 $197 $253 $342 Terminal Multiple Method PV of PV of Terminal Value at Enterprise Value at Implied Perpetuity Growth Discount ‘26E—‘30E Adj. EBITDA Exit Multiple of Adj. EBITDA Exit Multiple of Rate at Adj. EBITDA Exit Multiple of Rate Cash Flows 7.00x 8.00x 9.00x 7.00x 8.00x 9.00x 7.00x 8.00x 9.00x 10.0% $535 $2,484 $2,839 $3,194 $3,020 $3,375 $3,730 1.0% 2.0% 2.8% 11.0% 520 + 2,375 2,714 3,053 = 2,895 3,234 3,573 1.8% 2.9% 3.7% 12.0% 506 2,270 2,595 2,919 2,777 3,101 3,425 2.7% 3.8% 4.6% Equity Value at Equity Value(5) per Share at Discount Less: Net Debt Adj. EBITDA Exit Multiple of Adj. EBITDA Exit Multiple of Rate (as of YE25E) (5) 7.00x 8.00x 9.00x 7.00x 8.00x 9.00x 10.0% ($781) $2,239 $2,594 $2,948 $6.70 $7.75 $8.80 11.0% (781) = 2,114 2,453 2,792 6.35 7.35 8.35 12.0% (781) 1,995 2,320 2,644 6.00 6.95 7.90 ____________________ Source: Boson Management and Public Filings as of September 2025. Boson Management projections. Note: U.S Dollars in millions (except per share values). Values discounted to 12/31/2025 using year-end convention. Equity value per share rounded to the nearest $0.05. (1) Terminal year assumes normalized depreciation and amortization equal to 90.7% of capital expenditures, capital expenditures limited to growth & maintenance, no sale-lease back proceeds and 26% marginal statutory tax rate, with no bonus tax depreciation. (2) Adj. EBITDA figures unburdened for stock-based compensation and reconciled for interest expense, depreciation and amortization expense, gain/loss on sale, acquisition expenses, non-cash rent expense, loss on extinguishment of debt, employee retention credit, and other. (3) Represents cash taxes inclusive of bonus tax depreciation and NOLs impact. (4) Represents book Depreciation & Amortization and excludes bonus depreciation. (5) Capital structure as of 12/31/2025 based on total debt of $810mm and cash & cash equivalents of $28mm estimates provided on 1/7/2026. Estimates are preliminary, subject to change and represent unaudited financials. (6) Boson fully diluted share count based on 327.568 basic common shares outstanding, 10.506 stock options with a weighted average exercise price of $6.55, and 5.402 RSUs pursuant to the Treasury Stock Method as of 09/30/2025.

Appendix

14 Boson Weighted Average Cost of Capital Range Cost of Equity Low High Source Risk Free Rate 4.8% Twenty year U.S. Government bond yield as of January 13, 2026 Levered Beta 1.22 Represents Company’s historical Bloomberg adjusted beta levered at the Company’s average capital structure since IPO. Bloomberg betas based on regression of weekly performance as compared to the broad U.S. equity market since IPO Equity Risk Premium 5.0% 7.0% Equity risk premium relative to twenty year U.S. Government bond yield per BofA Securities estimates, based upon analysis of long-term historical data of the broad U.S. equity market Cost of Equity 10.9% 13.3% Cost of Debt Pre-tax Cost of Debt 8.25% Based on market estimates for new unsecured 10-year debt Marginal Tax Rate 26.0% Marginal statutory tax rate After-tax Cost of Debt 6.1% Net Debt / Net Capital 22.4% Based on Boson’s Average Capital Structure Since IPO Weighted Average Cost of Capital 9.8% 11.7% ____________________ Source: FactSet and Bloomberg as of January 13, 2026. Note: USD in millions. Boson went public in June 2021.