#10 0 corcentric TM 0 Investor Presentation July 2022 1 1 0 1 1 NORTH MOUNTAIN MERGER CORP. 1 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 otherw ise arising in connection therew ith. 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. View ers 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 otherw ise 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 grow th 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 grow th profitably (including, but not limited to, actual revenue generated from new or existing customer contracts), 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 COV ID-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 know n 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#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, review ed, 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 there to 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 in 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. Rounding Note figures may not sum due to rounding. 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 w ould be unlaw ful prior to registration or qualification under the securities law s 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#4Today's presenters Corcentric Doug Clark Founder, CEO, and Chairman Tom Sabol CFO corcentric Matt Clark President and COO Fritz Smith Chief Revenue Officer North Mountain Merger Corp. Chuck Bernicker CEO, President, and Director 3#5North 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 Card Connect 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 NM MC Management Team Led Billtrust to Success + Successful Billtrust de-SPAC Announced combination with Billtrust in October 2020 Pro form a 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 Card Connect Stock Price Performance NM MC Management Team Led Card Connect to Success CCN outperforms the S&P 500 by +30% over 1 year Card Connect announces merger with FinTech Acquisition Corp First Data Corp. announces acquisition of Card Connect for $15.00 per share sepert Card Connect merger completed Card Connect MA 52.5% S&P 500 20.4% Mar 16 May 16 Aug 16 Nov 16 Jan 17 Apr 17 Jun 17 +#6H Doug Clark Founder, CEO, and Chairman Introduction to Corcentric#7corcentric TM Our mission is to transform how businesses purchase, pay, and get paid 6#8Corcentric at a glance Platform Overview WHAT WE DO Source-to-Pay (S2P) Order-to-Cash (02C) Proprietary B2B Commerce Network. + Enable growth Optimize working capital Increase EBITDA HOW WE DO IT corcentric Software Advisory BUSINESS OUTCOMES DELIVERED Payments services + Enhance visibility + Increase business agility Minimize risk By the Numbers 2,500+ Customers and growing $145M 2022E Payment, Software and Advisory revenue 69% 2022E adj. gross margin from Payment, Software and Advisory SCALE $100B + Platform transaction volum e PERFORMANCE 32% 2022E Payment, Software and Advisory revenue growth PROFITABILITY $42M 2022E adj. EBITDA³ $140B + Estimated global B2B software & services revenue opportunity¹ 109% Dollar-based net retention² 47% 2021 2023E adj. EBITDA CAGR ³ 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) For the trailing twelve month (TTM) period ended March 31, 2022; (3) Excludes estimated public company costs of $4.8M and $7.8M for 2022E and 2023E, respectively 7#9Our experienced, founder-led management team Doug Clark Founder, CEO, and Chairman 25+ years Ed Benack Chief Customer Officer cvent Microsoft MONSTER corcentric Matt Clark President and COO 20+ years Buffi Gibbons Chief HR Officer OEvidera PPD GUBC Tom Sabol CFO TRANSACT B3 Rimini Street SAP HYPERCOM> Manish Jaiswal Chief Product Officer ARIBA Mark Joyce EVP and Chief Accounting Officer 15+ years Sunil Padiyar Chief Technology Officer CBRE facilitysource SALES LOGIX Fritz Smith Chief Revenue Officer *P2 IHS Markit Sophie Hubscher General Counsel & SVP Altisource mongoDB. 8#10B2B commerce still relies on highly-manual, legacy solutions FOX g Source-to-Pay Sourcing corcentric PO Creation Receipt of Goods Invoice Acceptance Payment Disbursement Reconciliation Source-to-Pay Workflow he s Contract / Purchase order Invoice Resend invoice (if error) Write / Print check Mail Check Ⓒ|₁ برو 2 巴 дв Order-to-Cash Sourcing PO Acceptance Shipment of Goods Invoice Disbursement Payment Acceptance Cash Application Order-to-Cash Workflow 9#11We are connecting buyers and suppliers with a B2B commerce network 8888 8888888 BUYERS 8 58 Multi-modal Payments Source-to-Pay corcentric Source: Management reporting S2P Software 02C Software TTB Order-to-Cash Multi-modal Payments 19 Connecting Source-to-Pay and Order-to-Cash creates a powerful flywheel effect dod 8888 SUPPLIERS 10#12We have been innovating in B2B commerce for over 25 years $ 1996 Early adopter of ACH+ payments and supply chain financing at scale 000 corcentric 2008 Launched Corcentric 3-way matching for invoices ماها که 2010 Acquired and launched cloud-based Accounts Payable automation solution COR360 Source One Procurement Services | www.SourceOneInc.com 2018 Boosted procurement and finance Advisory capabilities via Source One acquisition DETERMINE Vision. Insight. Control. 2019 Optimized modular source-to-pay tools and expanded global footprint via Determine acquisition N Netsend 2019 Strengthened AR invoicing/document distribution capabilities and expanded global footprint via Netsend acquisition BregalSagemount 2020 Raised first growth equity capital from Bregal Sagemount vendorin 2020 Strengthen AP Payments capabilities via Vendorin acquisition Corcentric is well-positioned to lead the next wave of innovation in B2B commerce NORTH MOUNTAIN 2021 Signed merger agreement with NMMC and plan to list publically 11#13H Matt Clark President and COO O Corcentric's market opportunity and value proposition#14The 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 (02C) $120T+ B2B transaction volume globally¹ Source: (1) Visa Investor Day Presentation (2020); available at https://s1.q4cdn.com/050606653/files/doc presentations/2020/02/V is a-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 2021A revenue, w hitespace includes payments revenue opportunity; reference slide 16 13#15Corcentric addresses the entire B2B value chain Focus End market Customers Integrated payments Transaction volume opportunity corcentric S2P (Procurement & AP) 02C (AR) Enterprise / Mid-market 2,500+ Core competency $120T+ volume 5 coupa S2P Enterprise 2,000+1 Early days. $13T volume 6 Xavidxchange AP Mid-market 7,000+² $25T volume 7 Bill.com AP/AR SMBs 115,6003 $9T volume 8 billtrust 02C Enterprise / Mid-market 1,800+4 $120T volume 5 corcentric 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/V is a-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 14#16Corcentric's value proposition Corcentric's end-to-end software & payment solutions automate B2B processes and... 8888 8888 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 ...deliver a compelling value proposition to its customers PO Acceptance 4 Shipment of Goods 6 Invoice Disbursement 9 Payment Acceptance 10 Cash Application 3 Optimizes working capital and cash flow dad 38 8888 SUPPLIERS 15#17Unparalleled monetization across the B2B value chain Corcentric leverages a combination of software, payments and advisory services... ADVISORY 7 S2P Almil Sourcing Illustrative Advisory Services economics: $100,000/ye e Sourcing / Contracting S2P year + SOFTWARE corcentric Source: Management reporting S2P www Procurement S2P AP Automation SaaS Subscription Source to Pay -$150,000/year 02C Invoicing / e-Billing + S2P/02C Payment Solutions PAYMENTS SaaS Subscription Order to Cash -$100,000/year 02C Supply Chain Financing + 02C Collections / Credit Mgmt 02C Cash Application Payments. (Multiple Modalities) ~250 bps of volume ...to fully monetize each buyer / supplier transaction, providing multiple "bites at the apple" that others are unable to manage 16#18Source-to-Pay solutions Supplier Management Contract Life cycle Management Procurement Invoice Management corcentric ftware Advisory Payments services Sourcing Analytics Source-to-Pay Solutions Financial Management Payments + Financing Analytics Uncover insights that drive smarter spend decisions M www Procurement Control spend and improve compliance Sourcing Improve supplier selection and drive savings Invoice Management Automate invoice processing QQ Supplier Management Build stronger supplier relationships and manage risk Financial Management Improve spend management and reporting M Contract Life cycle Management Automate the entirety of a contract lifecycle 47 Payments + Financing Autom ate multimodal payment disbursement 17#19Order-to-Cash solutions Dispute Management Collections Management Cash Application Supply Chain Financing corcentric ftware Advisory Payments services Ew Invoicing + eBillling Credit Management Order-to-Cash Solutions Managed AR Services Analytics Credit Management Assess and issue lines of credit Cash Application Streamline payment collection and reconciliation Invoicing + e Billing Automate invoice creation and distribution Supply Chain Financing Set flexible payment terms Q Dispute Management Dispute, resolve, and mitigate issues Managed AR Services Fully outsource AR management -$- Collections Management Employ best- practice collection processes Analytics Uncover actionable insights on O2C and payments 18#20Corcentric simplifies Order-to-Cash SUPPLIERS Single, consolidated payment corcentric genpact accenture Capgemini accenture Deloitte NETSUITE wipro) BEN Cognizant Obilltrust kyriba Connectivity Bill.com Cognizant highradlus Capgemini Application Cash PR K Management Collections taulia 8.7 CR24N wipro genpact Dispute Management TU: V Deloitte previse ftware DEMICA kyriba Correclivity Supply Chain Finance Bill.com Advisory highradius billtrust nvoicepay wipro Invoicing + eBilling PAY services m Payments m w ManagedAR Services Cognizant accenture NETSUITE Management Credit Capgemini Deloitte. BlueVine Bank of America. JPMorgan Chase Analytics CLEARBANC citibank ORDER-TO - CASH SOLUTIONS Microsoft WELLS FARGO genpact DOMO +ableau' SISENSE Multimodal Payments Invoice Delivery + Management BUYERS Payments Customer Support 19#21Corcentric removes process and system integration friction Order-to-Cash customer corcentric corcentric coupa SAP SAP Ariba A LAWSON' MatrixCare Macola Software An software sotvars Company EchoSign. A aptean Ross Enterprise TMW. ONNATRACK A TRIMBLE COMPANY 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 TRIMBLE COMPANY infor SERENIC Sage Deltek. IBM SOFTWARE AS/400 Coda Financials basware YARDI fiserv. TMW. A TRIMBLE COMPANY Microsoft Dynamics NAV ORACLE NETSUITE salesforce TRINIUM Technologies WISITECH GLOBAL GROUP 20#22A superior Order-to-Cash solution FUNDAMENTAL CHALLENGES WITH EXISTING SOLUTIONS $ M Cash flow uncertainty Antiquated billing Long DSO's Poor customer onboarding / service High dispute frequency Lack of spend visibility corcentric $ 1 D O CORCENTRIC'S 02C SOLUTION BENEFITS Cash flow certainty Bad debt elimination Enhanced customer satisfaction Unlocked resources through automation Streamlined cash application Immediate revenue growth 21#23Proprietary B2B commerce network of buyers and suppliers $100B + Platform transaction 8888 8888888 450K+ BUYERS 8 58 Multi-modal Payments Source-to-Pay corcentric Source: Management reporting S2P Software volume 02C Software TTB Order-to-Cash Multi-modal Payments 19 Connecting Source-to-Pay and Order-to-Cash creates a powerful flywheel effect xod 8888 1.4M+ SUPPLIERS 22#24Built on an integrated, modern technology stack Source-to-Pay (S2P) Cloud native PERCONA Linux ORACLE® Microsoft Dynamics redis corcentric HTML CXX 5 2.5 1.5 ERPs TECHNOLOGY SOLUTIONS Proprietary B2B commerce network TECHNOLOGY ARCHITECTURE elasticsearch mongoDB. php MySQL NETSUITE SAP Multi-tenant LAWSON' sage Integration Partners Ability to serve as a single pane of glass over multiple ERP solutions nade numen graylog amazon webservices coupa salesforce Order-to-Cash (02C) Single code base python™ Sc ZABBIX 3rd Party networks READSOFT BEROE ecovadis docker SAP Ariba A TRADESHIFT dun&adet Network of networks created via integrations with suppliers and buyers KEY DIFFERENTIATORS Multi-tenant architecture with single code base Platform-as-a-Service with apps Robust Extension Framework as part of the core platform + Unique way to manage applications using AWS and an online builder + No-code low-code app framework Full service-oriented architecture (restful APIs) Business Innovation Lab focused on disruptive technologies like Al / ML and blockchain 23#25Blue 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 109% Dollar-based net retention ¹ $100B+ Platform transaction volume $2B+ Total whitespace² Source: (1) For the TTM period ending March 31, 2022; (2) Calculated by multiplying 2,500 customers by the revenue opportunity for a fully engaged customer and then subtracting 2021A revenue, whitespace includes payments revenue opportunity 24#26Transforming 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 IMPACT (FROM MARCH 2020 THROUGH JUNE 2021) $6.5 M realized savings 50+ workflows and processes impacted $300M in spend reviewed and addressed 138 North American production sites serviced 4x ROI Global Deployment plans are underway 25#27Unlocking 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 IMPACT (FROM AUGUST 2018 THROUGH JUNE 2021) > 10% Sales increase Working Capital enhanced materially Visibility into consumer spend and behavior. increased Customer Complaints reduced substantially DSO Decreased significantly Customer Engagement improved considerably 26#28…..a success story on multiple levels NETWORK EFFECT Multiple levers driving increased value +Converted GPO supplier to O2C customer Speed to revenue and ability to quickly integrate +Seamless top customer transition corcentric LAND AND EXPAND Delivering outcomes that lead to growth Executed and delivered outcomes with their largest customer +Outcomes delivered leads to more of their customers being onboarded +Drives continuous cycle of execution, validation, stickiness and revenue growth 기 WIN-WIN-WIN Value creation for customer, its customers, and Corcentric + Customer benefits from our solution but so do its customers + Unique combination of capabilities paired with balanced O2C/S2P perspective +Stickiness and revenue growth 27#29Deploying 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 (FROM FEBRUARY 2012 THROUGH JUNE 2021) 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 28#30Multiple 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 1 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 29#31Significant opportunity to monetize the $100B+ of transaction volume on our platform $100B + Corcentric platform transaction volume $2.7B+ Monetized transaction volume in 2021 corcentric SOURCE-TO-PAY Automate AP payment disbursement across payment types ORDER-TO-CASH Optimize cash flow and streamline AR payment acceptance MONETIZATION METHODS Supply chain financing 巡 Virtual card Supply chain financing $ Enhanced ACH Merchant acquiring !lanal Aggregate purchasing Enhanced ACH 30#32H Fritz Smith Chief Revenue Officer Go-to-market strategy Wwww#33Go-to-market strategy DIRECT SALES Make the sale O Drive retention / renewals Support Sell 88 CUSTOMER +Platform-based sales +Teams organized by vertical and customer size Deliver Delight corcentric Note: Bookings data based on 2021 Implement the solution Foster customer satisfaction Strong network effect sales model +Payments as a core competency enables cross-sell and upsell into O2C and S2P solutions INDIRECT SALES REFERRALS $ Payment partners + +Point solution +Broader customer reach PARTNERS Integration partners + RESELL Technology partners +Cost effective customer acquisition strategy +Higher margin 32#34Strategic alignment around go-to-market complementing sales plays Territory corcentric Solution Message ΙΩ ॐ cy Jo Channel Target Persona Team Repeatable sales motion aligned to enable specific teams to successfully sell a solution to a specific set of customers and personas 33#35CFOs face unique challenges $ 0000 Poor Cash Flow Management Complexities in B2B commerce, including opaqueness in each step along the value chain, results in companies mismanaging cash flow TING Inefficient Legacy Systems & Processes 40%+¹ of B2B transaction volume is still processed through paper checks, which is manual, expensive, and prone to error 3X3 Proliferation of Point Solutions Proliferation of point solutions result in the need to purchase many systems and solutions that come with high costs and poor integration corcentric (1) PMNTS.com "Deep Dive: Why Paper Checks Still Factor Into B2B Firms' Payment Optimization Plans" (2021) Complex Integration Requirements Hundreds of available accounting and reporting systems pose business and integration challenges High Costs Traditional B2B commerce represent a staggering proportion of expenses that directly eat into company bottom lines 34#36Corcentric's unique all-in-one solution Analytics M Procurement Source-to-pay Managed accounts payable V DPO Extension Sourcing corcentric Invoice Management Supplier Management Financial Management Source Contract Life cycle Management 4 Payments + Financing Trade Finance Platform Payments Managed Service Purchase | Pay | Get Paid Settle 47 Credit Management Cash Application Order-to-cash Managed accounts receivable DSO Reduction Invoicing + Billing Receivables Finance 3 Dispute Management Managed AR Services Collections Management Analytics 35#37Office of the CFO: Go-to-Market corcentric Cost Control & Efficiency Funding for Growth Capital Management Growth Risk ਨਰ Taxation & Regulatory E Governance & Compliance Financial Reporting & Accounting 36#38H Tom Sabol Chief Financial Officer Financial overview#39Financial highlights Significant scale $ $145M 2022E Payment, Software and Advisory revenue corcentric Rapid growth $ 32% 2022E Payment, Software and Advisory revenue growth¹ High retention Q 12 109% Dollar-based net retention² High gross margins Ⓒ 69% 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, softw are and advisory revenue of $110M; (2) For the TTM period ended March 31, 2022; (3) Excludes estimated public company costs of $4.8M Attractive profitability الدم 44% 2022E adj. EBITDA YoY growth³ 38#40Our revenue model (excluding equipment sales) $ PAYMENTS +Per transaction processing fees +Based on either a percentage of dollar volume or a fee per number of electronic transactions. +Multiple monetization methods drive. a premium take rate corcentric 55% Q1 2022 revenue Note: The remainder of our revenues are generated through equipment sales ●●● </> SOFTWARE C +Tiered subscription pricing Contracted recurring revenue + Evergreen contracts. 27% Q1 2022 revenue ADVISORY SERVICES Fees from implementations and consulting services Generally charged on per project or hourly rate 18% Q1 2022 revenue 39#41Strong underlying operating metrics driving top line growth Total monetized transaction volume ($M) ul. 2,756 1,902 2,021 2019 2020 2021 756 YTD 2022 Dollar-based net revenue retention 108% 2019 106% 109% III 101% 2021 2020 TTM Q1 2022 corcentric Note: 2019 dollar-based net revenue retention analysis includes only revenues from Cor360 and CorConnect; Definitions for Total monetized transaction volume and Dollar-based net revenue are 40 provided in the appendix#42Compelling financial profile $145 42 $103 30 22 51 GAAP Revenue ($M) $175 73 $101 21 31 50 2019 2020 8% $154 44 $110 15 33 62 1 1 1 I $36 $25 11 21% Payment Software Advisory 3 $41 $30 11 8 17 6 8 14 2021 Q1'21 Q1'22 Equipment Adj. Payment, Sales Software and Advisory Margins Adjusted gross profit ($M) $71 68 2019 67% 10% $79 7% $70 67 2020 67% 74 3% 2021 68% $17 10% 16 Q1'21 64% 25% 6% $22 20 Q1'22 67% Adj. Equipment Sales Margins corcentric Note: Adjusted gross profit / margin and adjusted EBITDA are non-GAAP metrics. Definitions and reconciliations are provided in the appendix 2 21% 7% III.. $32 $27 $29 68% $5 2021 2019 Adjusted EBITDA ($M) 2020 $8 Q1'21 Q1'22 Substantial investments in organic and inorganic opportunities to capture the significant market opportunity 41#43Financial projections Payment, Software and Advisory revenue ($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 2023 E (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 42#44Business mix evolution (excluding equipment sales) Software and payments revenues are recurring or re-occuring in nature Payment, Software and Advisory revenue 2021 86% ■ Payments corcentric 30% 14% 56% ■Software ■Advisory services. Recurring or re-occuring revenue Source: Management reporting Note: The remainder of our revenues are generated through equipment sales Payment, Software and Advisory revenue 2023E 87% ■ Payments 23% 13% 64% ▬▬▬ ■Software Recurring or re-occuring revenue 1 ■Advisory services. 43#45Medium-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 44#46H Doug Clark Founder, CEO, and Chairman Conclusion Wwww#47Corcentric key highlights corcentric corcentric Unmatched combination of cloud-based software, payments and advisory services Comprehensive, end-to-end suite of source-to-pay and order- 00 to-cash solutions $ Proprietary B2B commerce network of buyers and suppliers $ 000 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 46#48Thank you corcentric NORTH MOUNTAIN MERGER CORP.#490 O Transaction highlights#50Transaction summary Transaction highlights Pro forma enterprise value of $1.229B 2023E adj. revenue multiple of 6.5x Corcentric shareholders to receive $1,013 M $893M in rollover equity and $120M in secondary proceeds $50M PIPE investment into Corcentric in connection with the merger + Corcentric to receive $27M in primary proceeds to fund growth ¹ 1 + North Mountain Merger Corp. to receive 1 of 7 board seats M H Sources ($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 Expenses ³ 3 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 81.1% Existing Corcentric Shareholders 4.5% PIPE Investors $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 netof SPAC acquirer fees with the consent of Corcentric; Figures may not sum due to rounding; (1) Assumes no redemptions by NM MC 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, 13.2 M NM MC common shares, 5.0M PIPE shares, and 2.6 M NM MC sponsor shares (excludes 2.1 M NM MC sponsor shares subject to price vesting conditions); Excludes tranches subject to time triggers and early price releases (5) Pro-form a capitalization as of 12/31/21; (6) Assumes $10.00 per share; Excludes the dilutive impact of NM MC public warrants, Corcentric earnout, founder share earnout, and the new, to-be-established equity incentive plan; 4.7 M SPAC sponsor shares are issued and outstanding immediately post Closing, including exchanged warrant shares; Excludes 2.1 M foundershares subject to earnout, ve sting ratably at $12.50 per share and $15.00 per share; Excludes tranches subject to time triggers and early price releases 2.4% NMMC Founder Shares 49#51Peer select operating metrics corcentric Bill.com CY21E-CY23E Adj. revenue CAGR CY23E Adj. gross margin CY23E Adj. EBITDA margin corcentric 27% 72% 33% 55% 82% 1% **coupa 19% 73% 8% billtrust® 24% 73% (3%) Source: Company materials; FactSet as of 6/30/2022 (1) Represents Payment, Software, and Advisory revenue + gross profit on equipment sales (2) Paymentus is based off net revenue Xavidxchange 21% 65% (7%) Software and FinTech Median² Avalara BLACKLINE DocuSign Paymentus flywire 23% 79% 7% 50#52Peer select trading metrics corcentric¹ Bill.com FV / CY23E Adj. revenue FV / CY23E Adj. revenue / CY23E adj. revenue grow th FV / CY23E Adj. gross profit FV / CY23E Adj. gross profit / CY23E revenue growth CY23E Adj. revenue growth corcentric 6.5x 0.2x 8.8x 0.3x 28% 11.1x 0.3x 13.4x 0.4x 38% *coupa 5.9x 0.3x 8.1x 0.4x 21% billtrust® 3.2x 0.1x 4.4x 0.2x 22% Source: Company materials; FactSet as of 6/30/2022 (1) Represents Payment, Software, and Advisory revenue + gross profit from equipment sales (2) Paymentus is based off net revenue Xavidxchange 2.2x 0.1x 3.3x 0.2x 20% Software and FinTech Median² Avalara BLACKLINE DocuSign Paymentus flywire 5.2x 0.3x 7.5x 0.3x 22% 51#53Appendix#54Corcentric financial summary ($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% Year ended December 31, 2020 2021 $50 $62 (3%) 25% $31 42% $21 (30%) $101 (2%) $73 76% $175 21% $67 67% $2 3% $70 40% $27 (16%) $14 8% $33 6% $15 (27%) $110 8% $44 (40%) $154 (12%) $74 68% $4 10% $79 51% $29 7% $17 11% 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 2022E $85 37% $36 11% $23 53% $145 32% $98 69% $5 $103 $42 45% $24 2023E $118 39% $43 19% $25 7% $186 29% $135 72% $4 $139 $63 50% $19 Three months ended March 31, Q1 2021 $14 $8 $3 $25 $11 $36 $16 64% $1 6% $17 48% $5 $4 10% Q1 2022 $17 22% $8 (1%) $6 67% $30 20% $11 13% $41 12% $20 67% $2 21% $22 55% $8 68% $5 13% 53#55Revenue & Gross profit reconciliation Payment, Software and Advisory Year ended December 31, 2021A 2019A 2020A $103 $101 $110 ($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 Source: Company materials (35) (12) $56 12 0 $68 55% 67% (34) (14) $53 14 0 $67 52% 67% (36) (19) $55 19 0 $74 50% 68% Equipment Sales Year ended December 31, 2019A 2020A 2021A $44 $42 $73 (39) (71) (40) 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) (12) $59 12 0 $71 41% Total 49% (105) (14) $55 14 0 $70 32% 40% (75) (19) $60 19 0 $79 39% 51% 54#56Revenue & Gross profit reconciliation (continued) Payment, Software and Advisory Three months ended March 31, ($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 2021A $25 (9) (4) $12 4 0 $16 46% 64% 2022A $30 (10) (5) $15 5 0 $20 51% Source: Company materials Note: Adjusted gross profit / margin are non-GAAP financial measures; Zero values represent numbers less than $500,000 67% Equipment Sales Three months ended March 31, 2021A $11 (11) $1 $1 6% 6% 2022A $11 (8) $2 $2 21% 21% Total Three months ended March 31, 2021A $36 (20) (4) $12 4 0 $17 34% 45% 2022A $41 (18) (5) $18 5 0 $22 43% 55 55%#57EBITDA reconciliation ($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 costs¹ Acquisition Accounting Adjustments Restructuring and strategic project expenses² Adjusted EBITDA (Non-GAAP) 2019 ($4) 9 (1) 17 $21 1 (0) 0 2 3 5 0 $32 Year ended December 31, 2020 $3 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 Three months ended March 31, 2021 ($7) 226 2 2 6 $4 1 OOO O 0 0 0 0 $5 1 Source: Company materials Note: Adjusted gross profit / margin and adjusted EBITDA are non-GAAP financial measures; Zero values represent numbers less than $500,000; ¹ For the months ended march 31, 2022, corcentric represents the provision for earn out compensation that may become payable to certain employees who are former shareholders of Vendorin LLC, if performance criteria are archived. For the three months ended March 31, 2021, represents legal accounting and other professional fees incurred in connection with the acquisition of Vendorin LLC (2020); 2 For the three months ended March 31, 2021, represents transaction costs associated with the business combination and charges associated with severance 2022 ($1) 2068 $8 1 0 (0) 0 $8 56#58Condensed income statement ($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 Year ended December 31, 2019 2020 $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 (0) (2) 5 0 $3 Source: Company materials Note: Adjusted gross profit / margin and adjusted EBITDA are non-GAAP financial measures; Zero values represent numbers less than $500,000 2021 $110 44 $154 $36 40 $75 $3 27 47 24 $101 ($22) ($9) 0 0 (31) (1) 0 ($33) Three months ended March 31, 2022 2021 $25 11 $36 $9 11 $20 $1 6 6 6 $19 ($2) ($2) 0 0 (4) (2) 0 ($7) $30 11 $41 $10 8 $18 $1 7 696 $21 ($1) ($2) 0 0 (0) (0) (0) ($2) 57#59Condensed balance sheet ($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 $11 196 10 20 22 115 49 5 $427 $1 136 7 22 134 0 1 $301 $88 LO 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 Source: Company materials Note: Adjusted gross profit / margin and adjusted EBITDA are non-GAAP financial measures; Zero values represent numbers less than $500,000 As of March 31, 2021 $10 239 11 17 26 114 37 13 $469 $0 153 7 27 165 2 1 $355 $110 5 ($1) $469 As of March 31, 2022 (Unaudited) $9 281 9 30 28 114 35 13 $524 $0 204 9 28 155 2 292 9 $412 $115 5 ($9) $524 58#60Condensed statement of cash flows ($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 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 Year ended December 31, 2020 2019 ($4) $17 1 (5) 9 18 (4) $32 ($11) 0 (52) ($63) $2,017 (1,979) (1) $34 $3 $19 2 (0) 18 (17) (5) $19 ($14) 0 (79) ($93) $1,984 (1,996) 20 (1) $73 ($1) 2021 ($33) $24 24 (46) 17 3 1 ($10) ($17) 1 ($16) $2,233 (2,202) (1) (4) $26 Three months ended March 31, 2021 ($1) ($7) $6 1 (23) 22 0 0 $2 ($4) ($4) $475 (474) (0) ($0) ($1) 2022 ($1) $2 Net (decrease) increase in cash and cash equivalents 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 corcentric 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 $6 1 (41) 51 2 8 $15 ($5) ($5) $604 614 (0) ($11) ($1) 59#61Glossary 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 60#62Glossary - 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 2021A revenue; whitespace includes payments revenue opportunity Transaction volume refers to the total value of transactions processed during a specified period 61#63Risk 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 im material 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 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 62#64Risk 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 63#65Risk 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 effecton 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 64