SCHEDULE: Clarkston Capital Partners and Affiliates Disclose 7.57% Stake in Leslie's, Inc.

Clarkston Capital Partners, along with its affiliated entities and individuals, has reported a collective beneficial ownership of 7.57% of Leslie's, Inc. common stock, totaling 14,037,110 shares.

Summary

• Clarkston Capital Partners, LLC, Clarkston Companies, Inc., Modell Capital LLC, Jeffrey A. Hakala, Gerald W. Hakala, and Jeremy J. Modell collectively beneficially own 14,037,110 shares of Leslie's, Inc. Common Stock.
• This aggregate ownership represents 7.57% of Leslie's, Inc.'s outstanding Common Stock.
• The percentage is calculated based on 185,421,657 shares of Common Stock outstanding as of May 2, 2025, as reported in Leslie's, Inc.'s Form 10-Q filed on May 8, 2025.
• The reporting persons hold sole voting power over 5,148,018 shares and shared voting power over 8,885,442 shares.
• They hold sole dispositive power over 5,148,018 shares and shared dispositive power over 8,889,092 shares.
• The shares were acquired and are held in the ordinary course of business and not for the purpose or with the effect of changing or influencing the control of Leslie's, Inc.

Sentiment

Score: 5

Explanation: The document is a routine beneficial ownership disclosure (Schedule 13G) and does not contain information that would inherently indicate positive or negative sentiment regarding the issuer's performance or outlook. It simply reports a factual ownership stake.

Future Outlook

The reporting persons state that the securities were acquired and are held in the ordinary course of business and not for the purpose or with the effect of changing or influencing the control of Leslie's, Inc.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§240.14a-11."

Industry Context

This filing is a routine disclosure of a significant ownership stake by an investment group in a publicly traded company, common in the financial industry for transparency regarding large institutional holdings.

Stakeholder Impact

• Shareholders: The disclosure of a significant 7.57% stake by an investment group provides transparency regarding the ownership structure and may influence investor perception of the stock's stability or potential for future activist involvement, though the filing explicitly states no intent to influence control.

Key Dates

Keywords

Leslie's Inc., Clarkston Capital Partners, Beneficial Ownership, Schedule 13G, Common Stock, Investment Adviser, Institutional Ownership, Equity Stake