#10 0 corcentric TM Investor Conference June 2022 1 0 1 1 NORTH MOUNTAIN MERGER CORP. 1 1 0#2Important Notices This presentation is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to the proposed business combination (the "Business Combination") between North Mountain Merger Corp. ("North Mountain") and Corcentric, Inc. ("Corcentric") and the related transactions. In connection with the proposed Business Combination, North Mountain has filed a registration statement on Form S-4 (the "Registration Statement") with the U.S. Securities and Exchange Commission (the "SEC"). The Registration Statement includes preliminary proxy materials that will be distributed to North Mountain's shareholders in connection with its solicitation for voting proxies in respect of the proposed Business Combination and other matters described in the Registration Statement, as well as a prospectus relating to the offer of North Mountain's securities to be issued in the proposed Business Combination. Investors, shareholders and other interested parties are advised to read the Registration Statement (and all amendments thereto) as well as other documents filed by North Mountain with the SEC in connection with the proposed Business Combination because these documents will contain important information about Corcentric, North Mountain and the proposed Business Combination. The definitive proxy statement/prospectus will be mailed to North Mountain's shareholders as of the record date established for voting on the proposed Business Combination. Interested parties will also be able to obtain copies of such documents, without charge, at the SEC's website located at www.sec.gov or by directing a request to North Mountain Merger Corp., 767 Fifth Avenue, 9th Floor, New York, NY, 10153, ATTN: Secretary, or by calling (646) 446-2700. No Representations or Warranties No representation or warranties, express or implied, are given in, or in respect of, this presentation. To the fullest extent permitted by law, in no circumstances will North Mountain, Corcentric or any of their respective subsidiaries, stockholders, affiliates, representatives, partners, directors, officers, employees, investment banks, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. Industry and market data used in this presentation have been obtained from third-party industry publications and sources as well as from research reports prepared for other purposes that North Mountain and Corcentric believe are reasonable. Neither North Mountain nor Corcentric has independently verified the data obtained from these sources and cannot assure you of the data's accuracy or completeness. This data is subject to change. In addition, this presentation does not purport to be all-inclusive or to contain all of the information that may be required to make a full analysis of North Mountain, Corcentric or the Business Combination. Viewers of this presentation should each make their own evaluation of North Mountain and Corcentric, and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. In addition, this presentation is not, and does not purport to be, an appraisal of the securities, assets or business of North Mountain, Corcentric or any other entity. North Mountain and Corcentric reserve the right to amend or replace this presentation at any time but none of North Mountain, Corcentric, their subsidiaries, affiliates, legal advisors or financial advisors shall have any obligation to update or supplement any content set forth in this presentation or otherwise provide any additional information to the recipient should circumstances, or management's estimates or opinions, change or any information provided in this presentation become inaccurate. The statements in this presentation, including all forward-looking statements, should not be relied upon as representing North Mountain and Corcentric's assessments as of any date subsequent to the date of this presentation. Forward-Looking Statements Certain statements, estimates, targets and projections in this presentation may be considered forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events, or involve the future performance of, Corcentric and North Mountain. For example, statements regarding the benefits of the proposed Business Combination, the anticipated timing of the proposed Business Combination, projections of future revenue or EBITDA, statements regarding anticipated growth in the industry in which Corcentric operates and anticipated growth in demand for Corcentric's products or services, projections of Corcentric's future financial results and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "pro forma", "may", "plan", "possible", "project", "strive", "budget", "forecast", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential" or "continue", or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based on current estimates and assumptions that are based on management's current expectations and subject to numerous risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the ability to meet stock exchange listing standards following the consummation of the Business Combination; the risk that a business combination disrupts current plans and operations of Corcentric; the ability to recognize the anticipated benefits of a business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; costs related to a business combination; changes in applicable laws or regulations; the possibility that Corcentric or the combined company may be adversely affected by other economic, business, regulatory, and/or competitive factors; Corcentric's estimates of expenses and profitability; the evolution of the markets in which Corcentric competes; the inability of Corcentric to implement its business plan; the inability of Corcentric to satisfy regulatory and licensing requirements; the impact of the COVID-19 pandemic on Corcentric's business. While the forward-looking statements included in this presentation, including the projected financial information, have been made in good faith and are based on assumptions we believe to be reasonable, there is no assurance the expected results will be achieved. Corcentric's actual results may differ materially based on the risks and uncertainties noted and incorporated herein, and the inclusion of such information in the presentation should not be regarded as a representation by any person that the results reflected in such projections and other forward-looking statements will be achieved. The risks and uncertainties described and incorporated in this presentation are not the only risks and uncertainties Corcentric may face. Additional risks and uncertainties not presently known to Corcentric, or that Corcentric currently considers immaterial, could also negatively affect the business, financial condition, results of operations, prospects, profits and value of the securities of Corcentric. You should read and carefully consider the other information in this presentation and the section entitled "Risk Factors" in the Registration Statement. corcentric 1#3Important Notices (continued) Use of Projections This presentation contains financial forecasts for Corcentric with respect to certain financial results for Corcentric's fiscal years through 2023. Neither North Mountain's nor Corcentric's independent auditors have not audited, studied, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, they did not express an opinion or provide any other form of assurance with respect thereto for the purpose of this presentation. These projections are forward- looking statements and should not be relied upon as being necessarily indicative of future results. In this presentation, certain of the above-mentioned projected information has been provided for purposes of providing comparisons with historical data. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of Corcentric or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this presentation should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved. Since the projections cover multiple years, such information by its nature becomes less reliable with each successive year. Non-GAAP Financial Measures This presentation contains certain financial information, such as EBITDA, EBITDA CAGR, EBITDA Margin, Adjusted EBITDA, Adjusted gross profit, Adjusted gross profit margin, which have not been prepared in accordance with United States generally accepted accounting principles ("GAAP"). North Mountain and Corcentric believe these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Corcentric's financial condition and results of operations. North Mountain and Corcentric believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating projected operating results and trends in and in comparing Corcentric's financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Management does not consider these non-GAAP measures isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in Corcentric's financial statements. Given the inherent uncertainty regarding projections, projected non-GAAP measures have not been reconciled back to the nearest GAAP measure. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. You should review North Mountain's and Corcentric's audited financial statements, included in the Registration Statement. Please refer to the Appendix for a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. Trademarks This presentation contains trademarks, service marks, trade names and copyrights of North Mountain, Corcentric and other companies, which are the property of their respective owners. Participants in the Solicitation North Mountain, North Mountain's sponsor, Corcentric and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of North Mountain, in connection with the proposed Business Combination. Information regarding North Mountain's directors and executive officers is contained in North Mountain's Annual Report on Form 10-K for the year ended December 31, 2021, which is filed with the SEC. Additional information regarding the interests of those participants, the directors and executive officers of Corcentric and other persons who may be deemed participants in the Business Combination may be obtained by reading the Registration Statement and the proxy statement/prospectus and other relevant documents filed with the SEC. Free copies of these documents may be obtained as described above. No Offer or Solicitation This presentation is for informational purposes only and shall not constitute a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed Business Combination. This presentation shall also not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale, issuance, or transfer of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. corcentric 2#4Corcentric at a glance Platform Overview WHAT WE DO Source-to-Pay (S2P) Order-to-Cash (O2C) Proprietary B2B Commerce Network + Enable growth + Optimize working capital + Increase EBITDA HOW WE DO IT corcentric ware BUSINESS OUTCOMES DELIVERED Payments Advisory services + Enhance visibility + Increase business agility Minimize risk By the Numbers 2,500+ Customers and growing $145M 2022E Payment, Software and Advisory revenue 68% 2022E adj. gross margin from Payment, Software and Advisory SCALE $100B+ Platform transaction volume PERFORMANCE 32% 2022E Payment, Software and Advisory revenue growth PROFITABILITY $42M 2022E adj. EBITDA³ $140B+ Estimated global B2B software & services revenue opportunity¹ 106% Dollar-based net retention² 47% 2021 2023E adj. EBITDA CAGR³ Note: Adjusted gross profit / margin and adjusted EBITDA are non-GAAP metrics. Definitions and reconciliations are provided in the appendix (1) Derived by multiplying the number of large and mid-size enterprise companies per Dun & Bradstreet by average total revenues (excluding payments revenues) per customer; data as of 6/21/21 (2) As of December 31, 2021; (3) Excludes estimated public company costs of $4.8M and $7.8M for 2022E and 2023E, respectively 3#5We are connecting buyers and suppliers with a B2B commerce network 888 8888888 BUYERS 8- corcentric Source: Management reporting Multi-modal Payments Source-to-Pay 信。 S2P Software 02C Software Order-to-Cash Multi-modal Payments 16 Connecting Source-to-Pay and Order-to-Cash creates a powerful flywheel effect dod 8888 SUPPLIERS 4#6The B2B commerce industry is massive We are early adopters of payment solutions with $100B+ in transaction volume on our network today Estimated global B2B software & services revenue opportunity² $2B+ embedded whitespace opportunity³ $145M 2022E payments, software and advisory corcentric revenue $140B+ Source-to-Pay (S2P) + Order-to-Cash (O2C) $120T+ B2B transaction volume globally¹ Source: (1) Visa Investor Day Presentation (2020); available at https://s1.q4cdn.com/050606653/files/doc presentations/2020/02/Visa-Inc-2020-Investor-Day-Full-Presentation.pdf; (2) Derived by multiplying the corcentric number of large and mid-size enterprise companies per Dun & Bradstreet by average total S2P and O2C revenues per customer; data as of 6/21/21; (3) Calculated by multiplying 2,500 customers by the revenue opportunity for a fully engaged customer and then subtracting 2021E revenue, whitespace includes payments revenue opportunity; reference slide 16 5#7Corcentric addresses the entire B2B value chain Focus End market Customers Integrated payments Transaction volume opportunity corcentric S2P (Procurement & AP) 02C (AR) corcentric Enterprise / Mid-market 2,500+ Core competency $120T+ volume5 *coupa S2P Enterprise 2,000+¹ Early days $13T volume6 Xavidxchange AP Mid-market 7,000+² $25T volume? Bill.com AP/AR SMBs 115,600³ $9T volume8 billtrust 02C Enterprise / Mid-market 1,800+4 $120T volume5 Source: (1) Coupa Investor Presentation (June 2021); (2) Avidxchange press release (August 13, 2021); (3) Bill.com FY21 Q3 10Q; (4) Billtrust FY20 10K; (5) Visa Investor Day Presentation (2020); available at https://s1.q4cdn.com/050606653/files/doc presentations/2020/02/Visa-Inc-2020-Investor-Day-Full-Presentation.pdf; (6) Coupa S-1, 4/03/2017; (7) Avidxchange S-1, 9/17/2021; (8) Bill.com S-1, 12/12/2019 6#8Corcentric's value proposition Corcentric's end-to-end software & payment solutions automate B2B processes and... 38 888888 8888888 BUYERS 1 Sourcing 2 PO Creation 5 Receipt of Goods 7 Invoice Acceptance 8 Payment Disbursement 11 Reconciliation Generates high customer ROI corcentric Source: Management reporting 2 1 Sourcing Drives operational improvement 3 PO Acceptance ...deliver a compelling value proposition to its customers 4 Shipment of Goods 6 Invoice Disbursement 9 Payment Acceptance 10 Cash Application 3 Optimizes working capital and cash flow dod doc 8888 SUPPLIERS 7#9Unparalleled monetization across the B2B value chain Corcentric leverages a combination of software, payments and advisory services... ADVISORY S2P Sourcing S2P X eSourcing / Contracting Illustrative Advisory Services economics: $100,000/year + SOFTWARE corcentric Source: Management reporting S2P Procurement S2P AP Automation SaaS Subscription Source to Pay -$150,000/year 02C Invoicing / e-Billing + S2P / O2C Payment Solutions PAYMENTS SaaS Subscription Order to Cash -$100,000/year 02C Supply Chain Financing + 02C Collections / Credit Mgmt 02C Cash Application Payments (Multiple Modalities) ~250 bps of volume ...to fully monetize each buyer / supplier transaction, providing multiple "bites at the apple" that others are unable to manage 8#10Corcentric simplifies Order-to-Cash SUPPLIERS Single, consolidated payment corcentric genpact accenture Capgemini accenture Deloitte NETSUITE wipro) Cognizant O billtrust kyriba Conectivity Billcom Cognizant highradlus Capgemini Application Cash PR K Collections Management taulia OF24h wipro) genpact Dispute Management Tw Deloitte. previse Software DEMICA UNLOCK TUNTIAL kyriba Connectivity 000 000 www.000 Supply Chain Finance Bill.com Advisory high radias O billtrust nvoicepay ... A wipro Invoicing + eBilling M2 Payments services 2 N NETSUITE ManagedAR Services Cognizant accenture Management Credit Capgemini Deloitte. genpact BlueVine JPMorgan Chase Bank of America. Analytics CLEARBANC citibank ORDER TO - CASH SOLUTIONS BM Microsoft WELLS FARGO DOMO tableau SISENSE Multimodal Payments Invoice Delivery + Management BUYERS -H- Payments Customer Support of 9#11Corcentric removes process and system integration friction Order-to-Cash customer corcentric corcentric coupa SAP SAP Ariba A LAWSON' MatrixCare Macola Software" A seware Setvars Company EchoSign. Aaptean Ross Enterprise SERENIC SOFTWARE TMW ONNATRACK A TRIMBLE COMPANY SIGUITAKE JULH12N2 QAD ORACLE JD EDWARDS Microsoft Dynamics GP Qualiac A Cegid Company Active Directory Cetaris EPICOR. ORACLE PeopleSoft EPICOR MEDITECH Quipware G Global Shop TGI ORACLE V VIEWPOINT™ A TRINDLE COMPANY infor sage Deltek. IBM AS/400 Coda Financials basware YARDI fiserv. TMW A TRIMBLE COMPANY Microsoft Dynamics NAV ORACLE N NETSUITE salesforce TRINIUM Technologies WISETECH GLOBAL GROUP 10#12Proprietary B2B commerce network of buyers and suppliers $100B+ 888 8888888 450K+ BUYERS 8- corcentric Source: Management reporting Multi-modal Payments Source-to-Pay 信。 S2P Software Platform transaction volume 02C Software Order-to-Cash Multi-modal Payments 16 Connecting Source-to-Pay and Order-to-Cash creates a powerful flywheel effect xad 8888 1.4M+ SUPPLIERS 11#13Blue chip customer base and significant embedded whitespace opportunity Top 100 Customers by End Market Finance 3% Food/Beverage 5% Transportation corcentric 6% Distribution 6% Other 17% Healthcare 14% Manufacturing 34% Consumer/Retail 15% KEY STATS 2,500+ total customers 106% Dollar-based net retention ¹ $100B+ Platform transaction volume $2B+ Total whitespace² Source: (1) As of December 31, 2021; (2) Calculated by multiplying 2,500 customers by the revenue opportunity for a fully engaged customer and then subtracting 2021E revenue, whitespace includes payments revenue opportunity 12#14Transforming S2P for a Fortune 500 global chemical and ingredients distributor CHALLENGES +Large tail spend +Limited visibility into supplier contracts and end user compliance +Lean sourcing and procurement team + Decentralized procurement activities +Limited subject matter expertise corcentric SOLUTION Customer Spend analysis and procurement / AP workflows corcentric Automatically distributed POS and matched all incoming invoices Supplier $6.5M realized savings 50+ workflows and processes impacted IMPACT (SINCE MARCH 2020) $300M in spend reviewed and addressed 138 North American production sites serviced 4x ROI Global Deployment plans are underway 13#15Unlocking value for one of the largest tire and rubber companies... CHALLENGES + Enrollment delays +Slow response times + Poor customer experience + Decrease in sales corcentric SOLUTION 02C Customer Improvement and management of billing, credit and AR services corcentric Analyzed supplier data and assessed credit risk Supplier >10% Sales increase IMPACT (SINCE AUGUST 2018) Working Capital enhanced materially Visibility into consumer spend and behavior increased Customer Complaints reduced substantially DSO Decreased significantly Customer Engagement improved considerably 14#16Deploying our full suite of services for Daimler CHALLENGES +Refining billing and support services across Daimler's vast dealer network +Enabling e-invoicing + Finding the right partner to manage billing and collections corcentric SOLUTION DAIMLER Enhanced invoice capabilities and support services corcentric Validating supplier data for payments Supplier IMPACT (SINCE FEBRUARY 2012) 59% DSO reduction Invoice processing substantially increased 17.6k unique connections between dealer and buyer ERP & POS systems Double-digit growth in revenues realized 86% decrease in disputes Customer acquisition and retention improved significantly 15#17Multiple vectors driving growth and upside Massive Cross-Sell Opportunity $2B+ Whitespace opportunity Payments Monetization 3% Of existing transaction volume monetized Win New Customers 15 Sales efficiency¹ International Expansion 12 Countries served today Strategic M&A 3 Acquisitions in last 3 years New Products & Innovation 87 R&D team members Note: Data as of June 17, 2021. (1) Corcentric tracks sales efficiency as a function of Business Development Representative (BDR) productivity; ¹ BDR is able to close ~15 new logos annually 16#18Financial highlights Significant scale $ $145M 2022E Payment, Software and Advisory revenue corcentric Rapid growth $ 32% 2022E Payment, Software and Advisory revenue growth¹ High retention K 기 106% Dollar-based net retention² High gross margins Ⓒ 68% 2022E adj. gross margin from Payment, Software and Advisory Note: Adjusted gross profit/ margin and adjusted EBITDA are non-GAAP metrics. Definitions and reconciliations are provided in the appendix (1) Compared to 2021 payment, software and advisory revenue of $110M; (2) As of December 31, 2021; (3) Excludes estimated public company costs of $4.8M Attractive profitability المد 44% 2022E adj. EBITDA YOY growth³ 17#19Financial projections Payment, Software and Advisory revenue ($M)¹ $110 2021 30% CAGR $145 2022E $186 2023E Adj. Payment, Software & Advisory Margins Adj. Equipment Sales Margins Adjusted gross profit ($M) $79 74 2021 68% 10% 33% CAGR $103 5 98 2022E 68% $139 4 135 2023E 72% $29 2021 corcentric Note: Adjusted gross profit / margin and adjusted EBITDA are non-GAAP metrics. Definitions and reconciliations are provided in the appendix Adjusted EBITDA ($M)² 47% CAGR $42 2022E $63 2023E (1) Company does not forecast equipment sales revenue, because the business is managed from the Gross Profit perspective; (2) Excludes estimated public company costs of ~$4.8M and ~$7.8M for 2022E and 2023E, respectively 18#20Medium-term operating model Ⓒ 25%+ Payment, Software and Advisory revenue growth ← → Target% 70%+ Payment, Software and Advisory adj. gross margin 30%+ Adj. EBITDA growth¹ corcentric Note: 3-5 year targets; Adjusted gross profit / margin and adjusted EBITDA are non-GAAP metrics. Definitions and reconciliations are provided in the appendix (1) Includes public company costs 19#21Corcentric key highlights corcentric corcentric TM Q S s Unmatched combination of cloud-based software, payments and advisory services Comprehensive, end-to-end suite of source-to-pay and order- $ 000 100 to-cash solutions Proprietary B2B commerce network of buyers and suppliers Unique combination of strong revenue growth and profitability Enterprise and mid-market customer base across diversified industry verticals Multiple vectors driving growth and upside Large TAM with strong tailwinds in B2B commerce 20#22Thank you corcentric NORTH MOUNTAIN MERGER CORP.#23Transaction highlights#24North Mountain overview Who we are and what we offer Proprietary sourcing channels and leading industry relationships with strategic corporates and financial sponsors Extensive public company experience at CardConnect and First Data Anchor investors and significant portion of committed capital from long-term investors Strong track record of identifying and sourcing transactions with proven playbook of value creation $132M equity capital raised in September 2020 via a listing on the Nasdaq Execution and structuring capability within the Financial Technology sector corcentric Source: Company filings and Factset. NMMC is an Ideal Partner for Corcentric NMMC Management Team Led Billtrust to Success + Successful Billtrust de-SPAC Announced combination with Billtrust in October 2020 Pro forma enterprise value of $1.3B, equal to 10.5x 2021 multiple 1-day post announcement price impact: 15.6% + Completed successful follow-on offering of $127M¹ on 06/30/2021 + Billtrust is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce + Billtrust provides mission-critical solutions that automate accounts receivable workflows. Solutions span credit decisioning and monitoring, online ordering, invoicing, cash application and collections Huge TAM with strong tailwinds in B2B commerce and electronic billing and payments billtrust 100%+ Net dollar retention 1,800+ Clients in the mid-market enterprise space across various industries (1) Includes executed greenshoe on 7/01/2021 $56B+ Total Payment Volume $1T+ Invoice dollars processed, reflecting large total addressable market CardConnect Stock Price Performance NMMC Management Team Led CardConnect to Success CCN outperforms the S&P 500 by +30% over 1 year CardConnect announces merger with FinTech Acquisition Corp First Data Corp. announces acquisition of CardConnect for $15.00 per share shpes CardConnect merger completed CardConnect MA 52.5% S&P 500 20.4% Mar 16 May 16 Aug 16 Nov 16 Jan 17 Apr 17 Jun 17 23#25Transaction summary Transaction highlights Pro forma enterprise value of $1.229B 2023E adj. revenue multiple of 6.5x + Corcentric shareholders to receive $1,013M H $893M in rollover equity and $120M in secondary proceeds $50M PIPE investment into Corcentric in connection with the merger + Corcentric to receive $27M in primary proceeds to fund growth¹ + North Mountain Merger Corp. to receive 1 of 7 board seats ■ Sources ($M) Corcentric Rollover Equity NMMC Cash in Trust¹ PIPE Proceeds Total Sources Uses ($M) Corcentric Rollover Equity Secondary Proceeds Cash to Balance Sheet² Estimated Transaction Expenses³ Total Uses corcentric $893 $132 $50 $1,075 Pro forma capitalization (at $10.00 per share)4 ($M) Implied Pro Forma Equity Value4 Pro Forma Debt5 Pro Forma Cash5 Pro Forma Enterprise Value Pro forma ownership at closing 12.0% NMMC Public Shareholders 4.5% PIPE Investors 81.1% Existing Corcentric Shareholders $1,101 $140 $12 $1,229 $893 $120 $27 $35 $1,075 Note: Transaction assumes a $50M PIPE at $10.00, no redemptions by NMMC public shareholders, $27M cash to the balance sheet, and $120M cash to existing Corcentric shareholders; Corcentric has a unilateral $150M minimum cash condition, net of SPAC acquirer fees. The minimum cash condition may be reduced to $125M net of SPAC acquirer fees with the consent of Corcentric; Figures may not sum due to rounding; (1) Assumes no redemptions by NMMC public shareholders; (2) $12M of cash dedicated to the balance sheet with residual being using to pay down debt; (3) Illustrative transaction fees and expenses for both SPAC and target; (4) Includes 89.3M Corcentric shares, 13.2M NMMC common shares, 5.0M PIPE shares, and 2.6M NMMC sponsor shares (excludes 2.1M NMMC sponsor shares subject to price vesting conditions); Excludes tranches subject to time triggers and early price releases (5) Pro-forma capitalization as of 12/31/21; (6) Assumes $10.00 per share; Excludes the dilutive impact of NMMC public warrants, Corcentric earnout, founder share earnout, and the new, to-be-established equity incentive plan; 4.7M SPAC sponsor shares are issued and outstanding immediately post Closing, including exchanged warrant shares; Excludes 2.1M founder shares subject to earnout, vesting ratably at $12.50 per share and $15.00 per share; Excludes tranches subject to time triggers and early price releases 2.4% NMMC Founder Shares 24#26Peer select operating metrics corcentric Bill.com CY21E-CY23E Adj. revenue CAGR CY22E Adj. gross margin CY22E Adj. EBITDA margin corcentric 28% 68% 28% 50% 82% (6%) **coupa 19% 70% 6% billtrust 25% 73% (9%) Source: Company materials; FactSet as of 4/04/2022 (1) Represents Payment, Software, and Advisory revenue + gross profit on equipment sales (2) Paymentus is based off net revenue Xavidxchange 20% 62% (14%) Software and FinTech Median² Avalara BLACKLINE DocuSign Paymentus flywire 22% 73% 6% 25#27Peer select trading metrics corcentric Bill.com FV / CY23E Adj. revenue FV / CY23E Adj. revenue / CY23E adj. revenue growth FV / CY23E Adj. gross profit FV / CY23E Adj. gross profit / CY23E revenue growth CY23E Adj. revenue growth corcentric 6.5x 0.2x 8.8x 0.3x 28% 28.4x 0.8x 34.9x 1.0x 34% coupa 10.1x 0.5x 14.0x 0.7x 20% billtrust 5.2x 0.2x 7.1x 0.3x 22% Source: Company materials; FactSet as of 4/04/2022 (1) Represents Payment, Software, and Advisory revenue + gross profit from equipment sales (2) Paymentus is based off net revenue Xavidxchange 3.9x 0.2x 5.9x 0.3x 20% Software and FinTech Median² Avalara BLACKLINE DocuSign Paymentus flywire 8.1x 0.4x 12.2x 0.5x 21% 26#28Appendix#29Corcentric financial summary ($M) Payment Revenue % growth Software Revenue % growth Advisory Revenue % growth Total Payment, Software, and Advisory Revenue % growth Equipment Sales Revenue % growth Total Revenue % growth Adjusted Gross profit from Payment, Software, and Advisory Revenue % margin Adjusted Gross profit from Equipment Sales % margin Total Adjusted Gross profit % margin Adj. EBITDA¹ % growth CapEx % Total Revenue 2019 $51 14% $22 129% $30 19% $103 $42 $145 $68 67% $3 7% $71 49% $32 $11 8% Source: Company materials Note: Company does not forecast equipment sales revenue, because the business is managed from the Gross Profit perspective corcentric (1) 2022E and 2023E adjusted EBITDA excludes estimated public company costs of $4.8M and $7.8M respectively Year ended December 31, 2020 $50 (3%) $31 42% $21 (30%) $101 (2%) $73 76% $175 21% $67 67% $2 3% $70 40% $27 (16%) $14 8% 2021 $62 25% $33 6% $15 (27%) $110 8% $44 (40%) $154 (12%) $74 68% $4 10% $79 51% $29 7% $17 11% 2022E $85 37% $36 11% $23 53% $145 32% $98 68% $5 $103 $42 45% $24 2023E $118 39% $43 19% $25 7% $186 29% $135 72% $4 $139 $63 50% $19 28#30Revenue & Gross profit reconciliation Payment, Software and Advisory Year ended December 31, 2020A 2021A $110 2019A $103 $101 (34) (14) $53 ($M) Revenues Direct cost of equipment sales Depreciation and amortization allocated to costs of revenue Gross profit Depreciation and amortization Stock-based compensation expense included in cost of revenues Adjusted Gross Profit (Non-GAAP) Gross margin Adjusted gross margin (Non-GAAP) corcentric (35) (12) $56 12 0 $68 55% 67% 14 0 $67 52% 67% Equipment Sales Year ended December 31, 2019A 2020A 2021A $42 $73 $44 (36) (39) (71) (40) (19) $55 19 0 $74 50% 68% Source: Company materials Note: Adjusted gross profit/ margin are non-GAAP financial measures; Zero values represent numbers less than $500,000 $3 $3 7% 7% $2 $2 3% 3% $4 $4 10% 10% Year ended December 31, 2019A 2020A 2021A $145 $175 $154 (73) (105) (75) (12) (14) (19) $59 $55 $60 12 0 $71 41% Total 49% 14 0 $70 32% 40% 19 0 $79 39% 51% 29#31EBITDA reconciliation ($M) Net (loss) income Adjustments: Interest expense, net Provision (benefit) for income taxes Depreciation and amortization Earnings Before Interest Taxes Depreciation and Amortization Adjustments: Stock-based compensation expense Foreign currency (gain) loss Equity in (income) loss of affiliate Change in Contingent Consideration Acquisition costs Acquisition Accounting Adjustments Restructuring and strategic project expenses Adjusted EBITDA (Non-GAAP) corcentric Source: Company materials Note: Adjusted gross profit/ margin and adjusted EBITDA are non-GAAP financial measures; Zero values represent numbers less than $500,000 Year ended December 31, 2019 2020 ($4) $3 9 (1) 17 $21 1 (0) 0 2 3 5 0 $32 7 (5) 19 $23 2 0 (0) 0 1 (1) 1 $27 2021 ($33) 9 1 24 $2 24 (0) (0) 0 0 3 $29 30#32Condensed income statement ($M) Revenue: Payment, Software and Advisory revenue Equipment sales Total revenues Direct costs of revenues (excluding depreciation and amortization shown separately below): Direct costs of Payment, Software and Advisory revenue Direct costs of equipment sales Total direct costs of revenue Operating expenses: Research and development Sales and marketing General and administrative Depreciation and amortization Change in fair value of contingent consideration Total operating expenses Operating (loss) income Net income: Interest expense Interest income Foreign exchange gain (loss) Loss before income taxes and equity in income (loss) of affiliate (Provision) benefit for income taxes Equity in income (loss) of affiliate Net (loss) income corcentric Source: Company materials Note: Adjusted gross profit/ margin and adjusted EBITDA are non-GAAP financial measures; Zero values represent numbers less than $500,000 Year ended December 31, 2020 2019 $103 42 $145 $35 39 $73 $2 29 18 17 2 $67 $4 ($9) 0 0 (5) 1 (0) ($4) $101 73 $175 $34 71 $105 $2 27 18 19 $65 $4 ($7) 0 (2) 5 0 $3 2021 $110 44 $154 $36 40 $75 3742 $3 $101 ($22) ($9) 0 0 (31) (1) 0 ($33) 31#33Condensed balance sheet ($M) Assets Cash and cash equivalents Accounts receivable, net Rebates, fees, and other receivables Inventories, prepaid expenses, and other current assets Property and equipment, net Goodwill Other intangible assets, net Other assets Total assets Liabilities, mezzanine equity and stockholders' equity (deficit) Current portion of long-term debt, net Accounts payable Rebates payable Accrued expenses and other current liabilities Long-term debt, net Deferred income taxes Other liabilities Total liabilities Mezzanine equity: Redeemable preferred stock Redeemable common stock Stockholders' equity (deficit): Total stockholders' equity (deficit) Total liabilities, mezzanine equity and stockholders' equity (deficit) corcentric As of December 31, 2019 $12 196 10 14 18 47 34 6 $338 $0 117 9 36 118 4 $285 8 $45 $338 As of December 31, 2020 Source: Company materials Note: Adjusted gross profit/ margin and adjusted EBITDA are non-GAAP financial measures; Zero values represent numbers less than $500,000 $11 196 10 20 22 115 49 5 $427 $1 136 7 22 134 0 1 $301 $88 5 $33 $427 As of December 31, 2021 $10 239 11 18 26 114 37 13 $469 $1 153 7 27 165 2 1 $355 $110 5 ($1) $469 32#34Condensed statement of cash flows ($M) Cash flows from operating activities: Net (loss) income Adjustments to reconcile net (loss) income to net cash flows (used in) provided by operating activities: Depreciation and amortization Stock-based compensation Accounts receivable and other receivables Accounts payable Accrued expenses and other current liabilities 1 Other ¹ Net cash (used in) provided by operating activities Cash flows from investing activities: Purchases of property and equipment (including software development) Proceeds from the sale of property and equipment Payments for acquisition (net of cash acquired) Net cash used in investing activities Cash flows from financing activities: Proceeds from line of credit Repayments on line of credit Proceeds from term loan Repayment of term loan Other ² Net cash provided by financing activities Net (decrease) increase in cash and cash equivalents corcentric Year ended December 31, 2019 2020 ($4) $17 1 (5) 9 18 (4) $32 ($11) 0 (52) ($63) $2,017 (1,979) (1) $34 $2 $3 $19 2 (0) 18 (17) (5) $19 ($14) 0 (79) ($93) $1,984 (1,996) 20 (1) $73 ($1) Note: Adj. revenue, Adj. Gross profit and Adj. EBITDA are non-GAAP financial measures; Zero values represent numbers less than $500,000 (1) Includes: gain on sale of assets, bad debt expense, deferred income tax expense, amort. of debt issuance costs, change in fair value of contingent consideration, payment of contingent consideration on acquisitions, equity in loss (income) of affiliate, changes in operating assets and other liabilities, other assets & liabilities (2) Includes: debt issuance costs, preferred stock issuance costs, proceeds from issuance of preferred stock, repurchases of common stock, proceeds from issuance of common stock, payment of contingent liabilities, payment of offering costs 2021 ($33) $24 24 (46) 17 3 1 ($10) ($17) 1 ($16) $2,233 (2,202) (1) (4) $26 ($1) 33#35Glossary Term Accounts payable (AP) Accounts receivable (AR) Enhanced ACH Merchant acquiring Order-to-cash (O2C) Procurement Source-to-pay (S2P) Virtual card corcentric Definition Workflows associated with providing payment for goods and services purchased from other companies. AP is a sub-set of the source-to-pay process Workflows associated with collecting payment from customers for goods and services provided. AR is a sub-set of the order-to-cash process Automated Clearing House (ACH) electronic funds-transfer system offered with additional capabilities and services that help streamline payment processing for suppliers (i.e. fully integrated remittance data) Merchant acquiring is the process in which a provider underwrites and enables merchants to accept card payments by acting as a link between merchants, issuers, and payment networks Order-to-cash is the comprehensive workflows spanning from the receipt of an order through to the cash application. AR is a subset of the order-to- cash process Procurement is the act of sourcing and obtaining goods or services for business purposes. Procurement is a part of the source-to-pay process Source-to-pay is the end-to-end process for obtaining goods and services. S2P includes, among other processes, procurement and accounts payable Virtual cards are a type of temporary and highly secure digital charge card provided to merchants to enable electronic payments 34#36Glossary - KPI / Financial Term Adjusted EBITDA Adjusted gross profit Adjusted gross profit margin Dollar-based net retention Monetized Transaction volume (MTV) Total whitespace Transaction volume corcentric Definition Adjusted EBITDA is defined as net profit/(loss) plus depreciation and amortization expenses, income tax expense/(benefit), other expense/(income), stock-based compensation expense, severance costs and acquisition and integration costs and other one time costs Adjusted gross profit is defined as total revenues less total direct costs of revenue, excluding depreciation and amortization, plus stock-based compensation expense included in total direct costs of revenue Adjusted gross profit margin is defined as adjusted gross profit divided by revenue Dollar-based net retention expresses the retained revenue from current customers as a percentage of revenue from the prior year after accounting for upsell, downsell, and churn The dollar value of customer payment transactions that we process through our payment network and is a key driver of our payments revenue Total whitespace is calculated by multiplying 2,500 customers by the revenue opportunity for a fully engaged customer and then subtracting 2021E revenue; whitespace includes payments revenue opportunity Transaction volume refers to the total value of transactions processed during a specified period 35#37Risk factors These Risk Factors are being provided to certain sophisticated institutional investors for potential investment in North Mountain Merger Corp. ("NMMC") in connection with its proposed business combination with Corcentric, Inc. ("Corcentric", "we", "us" or "our") (the "Business Combination") and pursuant to which the combined company of Corcentric and NMMC will become a publicly traded operating company ("Combined Company" means Corcentric immediately after the Business Combination). Investing in the securities of NMMC (the "Securities") to be issued in connection with the Business Combination involves a high degree of risk. Investors should carefully consider the risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. If Corcentric cannot address any of the following risks and uncertainties effectively, or any other risks and difficulties that may arise in the future, Corcentric's business, financial condition or results of operations could be materially and adversely affected. The risks described below are not the only ones Corcentric faces. Additional risks that Corcentric currently does not know about or that Corcentric currently believes to be immaterial may also impair its business, financial condition or results of operations. You should review the Investor Presentation and perform your own due diligence, prior to making an investment in NMMC. Risks Related to Corcentric's Business and Industry: Corcentric may not sustain its current rate of growth in the future. Corcentric earns a substantial portion of its revenue from payment transactions and Corcentric's growth is dependent upon the continued acceptance, security and adoption of its payment solutions. Because Corcentric recognizes subscription revenues over the term of the contract, fluctuations in new sales and customer cancellations may not be immediately reflected in Corcentric's operating results and may be difficult to discern. Corcentric's business depends substantially on its customers renewing their contracts and subscriptions and purchasing additional subscriptions from Corcentric. Corcentric's business could be adversely affected if its customers are not satisfied with the services provided by Corcentric and do not renew their contracts or subscriptions. A limited number of customer relationships are responsible for a significant portion of Corcentric's revenue and cash flow. In addition, Corcentric is subject to credit risk resulting from its managed accounts receivable solutions. A decrease in sales to these customers or a change in these customers' financial condition could materially harm Corcentric's business and operating results. + If Corcentric fails to adapt and respond effectively to rapidly changing technology, evolving industry standards, changing regulations and payment methods, demand for product enhancements, new product features, and changing business needs, requirements or preferences, its products may become less competitive. The markets in which Corcentric participates are competitive, and if Corcentric does not compete effectively, its operating results could be harmed. Corcentric may require additional capital to support the growth of its business, and this capital might not be available on acceptable terms, if at all. Corcentric's business depends, in part, on Corcentric's relationships with third parties, including partnerships with financial institutions, third party service providers, processing providers and other financial services f any of Corcentric's agreements with such financial institutions, third party service providers, processing providers, or financial services providers are terminated, Corcentric could experience service interruptions. The 2022 Russian invasion of Ukraine has affected and may continue to affect Corcentric's business operations. Acquisitions, strategic investments, partnerships, collaborations or alliances could be difficult to identify and integrate, divert the attention of management, disrupt Corcentric's business, dilute New Corcentric stockholder value, and adversely affect Corcentric's operating results and financial condition. corcentric 36#38Risk factors (cont'd) + If Corcentric fails to manage its growth effectively, Corcentric may be unable to execute on its plans and strategies, maintain and grow customer adoption and use of its products and services, or adequately address competitive challenges. Corcentric's ability to recruit, retain and develop qualified personnel is critical to its success and growth. If Corcentric is not able to effectively grow our sales and marketing organization, or grow an effective network of channel partners, it may be unable to increase its share of the existing markets or expand into new markets, which would inhibit its ability to grow and increase its profitability. If Corcentric fails to offer high-quality customer support, or if its support is more expensive than anticipated, its business and reputation could suffer. Corcentric's private commerce network solutions strategy is in part dependent upon its ability to provide value to both buyers and suppliers within the network. Failure to do so could have a material adverse effect on Corcentric's business and results of operations. Corcentric relies on fees and rebates that it receives from its private commerce network solutions suppliers. The failure to maintain contracts with these private commerce network solutions suppliers could adversely affect Corcentric's business, financial condition and results of operations. Risks Related to Information Technology, Cybersecurity and Intellectual Property: + Corcentric facilitates the transfer of customer funds daily, and is subject to the risk of errors, which could result in financial losses, damage to its reputation, or loss of trust in its brand, which would harm its business and financial results. If Corcentric's security measures are breached or unauthorized access to customer data is otherwise obtained, Corcentric's platform or products may be perceived as not being secure, customers may reduce the use of or stop using Corcentric's products and platform and Corcentric may incur significant liabilities. Corcentric's risk management efforts may not be effective to prevent fraudulent activities by its customers, employees or other third parties, which could expose Corcentric to material financial losses and liability and otherwise harm its business. + If Corcentric fails to adequately protect its proprietary rights, its competitive position could be impaired and it may lose valuable assets, generate less revenue and incur costly litigation to protect its rights. Corcentric may be sued by third parties for various claims including alleged infringement of its proprietary rights, which could be costly and time-consuming to defend. Indemnity and liability provisions in various agreements potentially expose Corcentric to substantial liability for intellectual property infringement, data protection, and other losses. corcentric 37#39Risk factors (cont'd) Risks Related to Regulation: Corcentric relies on various exemptions from licensing, and regulators may find that it has violated applicable laws or regulations. The regulatory environment Corcentric operates in is subject to constant change, and new regulations could make aspects of its business as currently conducted no longer possible. Risks Related to North Mountain and the Business Combination: + There can be no assurance that New Corcentric Common Stock will be approved for listing on Nasdaq or that New Corcentric will be able to comply with the continued listing standards of Nasdaq. + If the Business Combination's benefits do not meet the expectations of investors or securities analysts, the market price of North Mountain's securities or, following the Closing, New Corcentric's securities, may decline. A market for our securities may not continue, which would adversely affect the liquidity and price of our securities. Following the consummation of the Business Combination, New Corcentric will incur significant increased expenses and administrative burdens as a public company, which could have an adverse effect on its business, financial condition and results of operations. The North Mountain Board did not obtain a fairness opinion in determining whether or not to proceed with the Business Combination and, as a result, the terms may not be fair from a financial point of view to the Public Stockholders. North Mountain's Sponsor, officers and directors have potential conflicts of interest in recommending that stockholders vote in favor of approval of the Business Combination Proposal and approval of the other proposals described in this proxy statement/prospectus. corcentric 38#40corcentric 1141 Our mission is to transform how businesses 1 purchase, pay, and get paid ALEN www. TM 39