Cynosure Partners Congratulates Black Rock Coffee Bar on Successful Initial Public Offering

New York, NY — September 15, 2025 — Cynosure Partners (“Cynosure”), a long-term growth equity investment firm focused on partnering with founders and management-owners, and a subsidiary of The Cynosure Group, congratulates Black Rock Coffee Bar, Inc. (“Black Rock Coffee Bar” or the “Company”) on the closing of its successful initial public offering. The Company began trading on the Nasdaq under the ticker “BRCB” on September 12, 2025 and sold 16,911,764 shares of its Class A common stock, which includes the exercise, in full, by the underwriters of their option to purchase 2,205,882 shares, at a public offering price of $20.00 per share, above the initial price range of $16.00 - $18.00.

Black Rock Coffee Bar is a high-growth operator of guest-centric, drive-thru coffee bars, offering premium caffeinated beverages crafted by engaging baristas in an elevated in-store experience. The Company was founded in 2008 in Beaverton, Oregon with a single 160 square foot coffee bar, and is now one of the fastest growing beverage companies in the United States by revenue and the largest fully company-owned coffee retailer in the country (as of June 30, 2025), with 158 locations spanning seven states from the Pacific Northwest to Texas.

Cynosure Partners first invested in Black Rock Coffee in 2020 and continues to support the Company as it transitions to the public markets.

About The Cynosure Group
The Cynosure Group is a diversified investment firm that supports institutions, family offices, foundations, endowments, and like-minded investors who are seeking to build their wealth and maximize their impact in the world. With offices in Salt Lake City and New York City, The Cynosure Group has $8.6 billion in RAUM(1) across several strategies. Cynosure’s private direct investment business, Cynosure Partners, targets partnerships with founders and management-owners of profitable small to mid-sized North American-based companies who will remain meaningful owners of their business. By investing throughout the capital structure, making minority as well as control investments, and by providing long-term and follow-on capital, Cynosure offers investors a differentiated solution to companies in the financial services, industrials, and consumer sectors.

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Disclaimer:This press release is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security. References to portfolio companies are for illustrative purposes only and do not represent all investments made by Cynosure. Past performance, including portfolio company outcomes such as IPOs, is not indicative of future results. Cynosure has a financial interest in Black Rock Coffee Bar and therefore has a conflict of interest when discussing the company.

1. As of June 30, 2025, The Cynosure Group managed approximately $8.6 billion in regulatory assets under management. Regulatory assets under management are calculated in accordance with SEC Form ADV requirements and may fluctuate over time. The figure reported above may differ from the amount reported in Cynosure’s most recent SEC Form ADV filing, which reflects assets under management as of December 31, 2024.