Believes That Strategic Process is Required to Prevent Further Value Destruction

ADW Capital Analysis Supports Potential Value Creation of $50 to $60 of Value per Share from Internalization of External Manager

Letter Includes ADW Capital Findings on Board Member Relationships Indicating Lack of True Independence and Presence of Conflicts

Urges the Board to Engage with ADW Capital or Face Proxy Contest

MIAMI BEACH, Fla., July 16, 2026 (GLOBE NEWSWIRE) -- ADW Capital Management, LLC ("ADW"), which beneficially owns approximately 19.3% of the Common Stock of Compass Diversified Holdings (NYSE:CODI) (the "Company") through ownership of shares and stock options, issued an open letter to the Company’s board of directors urging the Company to undertake a strategic review process.

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