BOSTON OMAHA Business Summary

Boston Omaha Corporation (BOC) operates as a diversified holding company that generates revenue through a multi-vertical model encompassing billboard advertising rentals, high-speed broadband subscriptions, surety insurance premiums, and asset management fees. The company’s primary business segments include Link Media Outdoor, which manages a network of over 4,000 static and digital billboard faces; Boston Omaha Broadband, providing fiber-to-the-home internet services; General Indemnity Group, a specialist in surety bond underwriting; and Boston Omaha Asset Management (BOAM). BOC competes directly with industry leaders such as Lamar Advertising and Outfront Media in the outdoor advertising space, and regional telecommunications providers like Frontier Communications and Lumen Technologies in the broadband sector. Positioned as a long-term capital compounder, BOC differentiates itself by acquiring cash-generative, asset-heavy businesses with high barriers to entry, maintaining a decentralized operational structure focused on growing intrinsic value per share. The company was co-founded by Adam Peterson and Alex Rozek, who established its value-oriented investment philosophy. As of February 2026, Adam Peterson serves as the sole Chairman and Chief Executive Officer, bringing extensive experience in capital allocation from his tenure as the managing member of The Magnolia Group. Following the departure of co-founder Alex Rozek in May 2024, the executive team has been anchored by Chief Financial Officer Joshua Weisenburger, who previously held financial leadership roles at Ecolab and Kiewit Corporation. The leadership is supported by a board of directors that includes notable industry figures such as Brendan Keating, Jeffrey Royal, and David S. Graff, the CEO of Hudl who joined the board in early 2025. This team oversees a disciplined strategy of reinvesting internal cash flows into existing business lines to drive operational efficiencies and long-term shareholder returns.