Due to the impact of the Reorganization Transactions, the Company’s capital structure for the period prior to the IPO is not comparable. As a result, the presentation of earnings per share for the periods prior to such transactions is not meaningful and only earnings per share for the period subsequent to the IPO is presented herein.

The Company computes earnings per share (“EPS”) of Class A common stock. Basic EPS is computed by dividing net income attributable to common stockholders by the weighted average number of shares of Class A common stock outstanding. The Company’s Class B common stock and RSUs are nonparticipating securities because holders are not entitled to dividends or dividend equivalent payments.

For the calculation of diluted EPS, net income attributable to common stockholders for basic EPS is adjusted by the effect of dilutive securities. Diluted EPS attributable to common stockholders is computed by dividing the resulting net income attributable to common stockholders by the weighted-average number of common stock outstanding, adjusted to give effect to dilutive elements including RSUs and convertible Class X Umbrella Units and LTIP Units to the extent these are dilutive.

The following table presents the calculation of basic and diluted earnings per share for the three and six months ended June 30, 2026 (in thousands, except share and per share amounts):


	Three Months Ended June 30, 2026		Six Months Ended June 30, 2026
Numerator:
Net (loss) income	$	(10,094)	$	7,644
Net (loss) income attributable to noncontrolling interest	(9,086)		8,158
Net loss attributable to Andersen Group Inc. stockholders, basic	$	(1,008)	$	(514)
Net loss attributable to Andersen Group Inc. stockholders, diluted	$	(1,249)	$	(514)

Denominator:
Weighted average number of shares of Class A common stock outstanding, basic	13,261,049		12,957,213
Effect of dilutive RSUs	—		—
Effect of dilutive LTIP Units	—		—
Weighted average number of shares of Class A common stock outstanding, diluted	13,261,049		12,957,213

Earnings per share:
Earnings per share attributable to Class A common stockholders, basic	$	(0.08)	$	(0.04)
Earnings per share attributable to Class A common stockholders, diluted	$	(0.09)	$	(0.04)

The effect of the Company’s potentially dilutive Class X Umbrella Units, RSUs and LTIP Units were not included in the calculation of diluted earnings per share as the effect would be anti-dilutive. For the three months ended June 30, 2026, the application of the treasury stock method at AT Umbrella LLC yielded a dilutive numerator impact related to increased AT Umbrella LLC net loss attributable to the Company, but did not result in a denominator impact for any incremental shares of Class A common stock. At June 30, 2026, 97,805,000 Class X Umbrella Units, 5,103,260 RSUs and 1,610,168 LTIP Units with a potentially dilutive impact were outstanding.