#1Forbes ANALYST DAY FORBES ON FIFTH Friday, February 25 1:00-3:00 p.m. ET#2Forbes A Global Powerhouse Analyst Day Presentation#3Disclaimer Forbes This investor presentation (this "Presentation") is for informational purposes with respect to the proposed business combination (the "Business Combination") among Magnum Opus Acquisition Limited ("Magnum Opus"), Forbes Global Holdings Inc. and Forbes Global Media Holdings Inc. (together with their direct and indirect subsidiaries and affiliates, the "Company") No Offer or Solicitation This Presentation does not constitute (I) a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed Business Combination or (ii) an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security of Magnum Opus, the Company, or any of their respective affiliates, nor shall there be any sale of any such 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 the Securities Act of 1933, as amended, Important Information The information contained herein does not purport to be all-inclusive and none of Magnum Opus, the Company or their respective affiliates makes any representation or warranty, express or implied, as to the accuracy, completeness or reliability of the information contained in this Presentation. Neither Magnum Opus, the Company, nor any of their respective affiliates, agents, advisors, directors, officers, employees, partners, representatives and shareholders shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this Presentation or for omissions from the information in this Presentation. We reserve the right to amend or replace the information contained herein, in part or entirely, at any time, and undertakes no obligation to provide you with access to the amended information or to notify you thereof. Forward-Looking Statements Certain statements in this Presentation may be considered forward-looking statements. Forward-looking statements generally relate to future events or Magnum Opus's or the Company's future financial or operating performance. For example, projections of tax benefits, future financial and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential" or "continue", or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. 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 upon estimates and assumptions that, while considered reasonable by Magnum Opus and its management, and the Company and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of negotiations and any subsequent definitive agreements with respect to the Business Combination; (2) the outcome of any legal proceedings that may be instituted against Magnum Opus, the combined company or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the inability to complete the Business Combination due to the failure to obtain approval of the shareholders of Magnum Opus, to obtain financing to complete the Business Combination or to satisfy other conditions to closing; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination, (5) the ability to meet stock exchange listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of Magnum Opus or the Company as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the 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; [8] costs related to the Business Combination: (9) changes in applicable laws or regulations; (10) the possibility that the Company or the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) the Company's estimates of expenses and profitability, and (12) other risks and uncertainties set forth in the section entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements in Magnum Opus's final prospectus relating to its initial public offering dated March 23, 2021, other filings with the SEC and the risks described below under "Certain Risks Applicable to the Company." Readers are cautioned that this list of factors should not be construed as exhaustive. Nothing in this Presentation should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither Magnum Opus nor the Company undertakes any duty to update these forward-looking statements. 3#4Disclaimer Non-GAAP Financial Measures Forbes This Presentation includes certain financial measures not presented in accordance with generally accepted accounting principles ("GAAP) including, but not limited to, EBITDA and certain ratios and other metrics derived therefrom. These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing the Company's financial results. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. You should be aware that the Company's presentation of these measures may not be comparable to similarly-titled measures used by other companies. The Company believes these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to the Company's financial condition and results of operations. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends in and in comparing the Company's financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. These non-GAAP financial measures 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. Please refer to the relevant footnotes or to the appendix found at the end of this Presentation for a reconciliation of these measures to what the Company believes are the most directly comparable measure evaluated in accordance with GAAP. Use of Projections This Presentation contains financial forecasts with respect to the Company's projected financial results, including revenues, EBITDA and certain ratios and other metrics derived therefrom for the Company's fiscal years 2021 through 2022. The Company's independent auditors have not audited, 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 should not be relied upon as being necessarily indicative of future results. 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 the Company 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. Industry and Market Data In this Presentation, Magnum Opus and the Company rely on and refer to certain information and statistics obtained from third-party sources which they believe to be reliable. Neither Magnum Opus nor the Company has independently verified the accuracy or completeness of any such third-party information. Trademarks and Intellectual Property All trademarks, service marks, and trade names of the Company or its affiliates used herein are trademarks, service marks, or registered trade names of the Company as noted herein. Any other product, company names, or logos mentioned herein are the trademarks and/or intellectual property of their respective owners, and their use is not intended to, and does not imply, a relationship with the Company, or an endorsement or sponsorship by or of the Company. Solely for convenience, the trademarks, service marks and trade names referred to in this presentation may appear without the *, TM or SM symbols, but such references are not intended to indicate, in any way, that the Company will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names. Additional Information In connection with the proposed Business Combination, Magnum Opus has filed a preliminary proxy statement and intends to file a definitive proxy statement with the SEC, and Magnum Opus will maila definitive proxy statement relating to the proposed Business Combination to its shareholders. This Investor Presentation does not contain all the information that should be considered concerning the proposed Business Combination and is not intended to form the basis of any investment decision or any other decision in respect of the Business Combination, Magnum Opus's shareholders and other interested persons are advised to read the preliminary proxy statement and, when available, the amendments thereto and the definitive proxy statement and other documents incorporated by reference therein filed in connection with the proposed Business Combination, as these materials will contain important information about Magnum Opus, the Company and the Business Combination. When available, the definitive proxy statement and other relevant materials for the proposed Business Combination will be mailed to shareholders of Magnum Opus as of a record date to be established for voting on the proposed Business Combination. Shareholders will also be able to obtain copies of the preliminary proxy statement and, once available, the definitive proxy statement and other documents incorporated by reference therein that are filed with the SEC, without charge at the SEC's website at www.sec.gov, or by directing a request to: Magnum Opus Acquisition Limited, Unit 1009, ICBC Tower, Three Garden Road, Central, Hong Kong. 4#5Disclaimer Forbes Participants in the Solicitation Magnum Opus and its directors and executive officers may be deemed participants in the solicitation of proxies from Magnum Opus's shareholders with respect to the proposed Business Combination. A list of the names of those directors and executive officers and a description of their interests in Magnum Opus is contained in Magnum Opus's final prospectus related to its initial public offering dated March 23, 2021, which was filed with the SEC and is available free of charge at the SEC's web site at www.sec.gov, or by directing a request to: Magnum Opus Acquisition Limited, Unit 1009, ICBC Tower, Three Garden Road, Central, Hong Kong. Additional information regarding the interests of such participants is contained in the preliminary proxy statement filed with the SEC and, when available, will be included in the definitive proxy statement for the proposed Business Combination. The Company and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of Magnum Opus in connection with the proposed Business Combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed Business Combination is included in the preliminary proxy statement filed with the SEC and, when available, will be included in the definitive proxy statement for the proposed Business Combination. Certain Risks Applicable to the Company The Company is subject to a broad spectrum of risks and uncertainties that may lead to actual events, results or performance to differ materially from what is represented in this Presentation. Key risk factors include: The Company's brand and reputation are its key assets, and negative perceptions or publicity could adversely affect its business, financial condition and results of operations. Negative media coverage may affect the Company's brand loyalty and adversely impact its ability to generate revenue. The Company faces significant competition in all aspects of our business. The Company may not be able to successfully implement its anticipated growth strategies. The Company may require additional capital to support its operations or the growth of its business, and the Company cannot be certain that this capital will be available on reasonable terms when required, or at all. The Company's management has limited experience in operating a public company. In pursuing selective acquisitions, the Company may incur various costs and liabilities and may never realize the anticipated benefits of the acquisitions. Political and economic conditions in a variety of markets around the world could have an adverse effect on the Company's business, financial condition or results of operations. If the Company fails to expand effectively into new markets, its revenue and business will be adversely affected. The COVID-19 pandemic had and could continue to have an impact on the Company's business, its operations, and the markets and communities in which the Company, its partners, and its customers operate. The Company derives a significant portion of its revenue from advertising products and its relationships with advertising partners. The Company's advertising revenues are affected by external factors, including economic conditions, market dynamics and audience fragmentation. The digital advertising market is evolving, which can affect the Company's advertising revenues and require the Company to quickly adapt to digital advertising trends. The levels of the Company's website and digital content traffic and engagement with its brands and digital content are critical to its success. The Company derives a significant portion of its digital content and website traffic from third-party platforms. The Company's digital content and website traffic growth, engagement, and monetization depend upon effective operation within and compatibility with operating systems, networks, devices, web browsers and standards, including mobile operating systems, streaming tools, networks and standards that the Company does not control. Print circulation and advertisement revenues have declined in recent years and such revenues may continue to decline. The failure of licensees to adequately produce, market, import and sell products bearing the Company's trademarks in their license categories, continue their operations, renew their license agreements or pay their obligations under their license agreements could result in a decline in the results of operations of the Company's business. The actions of licensees using the Company's brand name may harm the its brand and reputation, and may result in increased costs to its business. The Company's events and conferences business is susceptible to numerous external risks that may cause its events to be cancelled or delayed, including changes in consumer preferences, poor weather, personal injuries or accidents, which may adversely affect sponsorship or attendance levels. A failure to continue to retain and grow the Company's subscriber base could adversely affect its results of operations and business. Security breaches and other network and information systems disruptions could affect the Company's ability to conduct its business effectively and damage its reputation The loss of key personnel, or failure to attract and retain other highly qualified personnel in the future, could harm the Company's business. The Company's intellectual property rights are valuable, and any inability to protect them could reduce the value of its content, services and brand. The Company may become party to intellectual property rights claims that are expensive and time consuming to defend, and, if resolved adversely, could have a significant impact on its business, financial condition or operating results. From time to time, the Company may be subject to legal proceedings, regulatory disputes, and governmental investigations that could cause the Company to incur significant expenses, divert management's attention, and materially harm the Company's business, financial condition, and operating results. The foregoing summarizes certain of the general risks related to the business of the Company, and such list is not exhaustive. The foregoing list has been prepared solely for purpose of assisting interested parties in making their own evaluation with respect to the proposed Business Combination and not for any other purpose. You should carefully consider these risks and uncertainties together with the other available information and should carry out your own diligence and consult with your own financial and legal advisors. A more expansive description of the key risk factors are contained under the heading "Risk Factors" in Magnum Opus's final prospectus filled with the SEC relating to its initial public offering and under the heading "Risk Factors in the preliminary proxy statement filed by Magnum Opus with the SEC. 5#6Today's Presenters Mike Federle Chief Executive Officer Randall Lane Chief Content Officer Forbes Mike York Chief Financial Officer Vadim Supitskiy Chief Technology Officer Jessica Sibley Chief Operating Officer Taha Ahmed SVP, Strategy & Growth Forbes MAGNUM OPUS ACQUISITION LIMITED Jonathan Lin Chief Executive Officer 6#7Executive Summary Presented by: Mike Federle, CEO of Forbes Jonathan Lin, CEO of Magnum Opus Forbes#8OUR MISSION To give people the knowledge, resources, inspiration and connections they need to achieve success. Forbes 8#9Executive Summary 11 Key Investment Highlights Iconic Brand with Global Reach High Growth, High Margin and Cash Generative Business Model Improving Business Mix to High Growth Consumer Segment Digital Asset Opportunities . . . . 2021 Financial Results Revenue growth of 40%, 15% above projection Adjusted EBITDA(¹) growth of 86% (23% margin), 31% above projection 70% free cash flow conversion (2) . . wwth · . CAMER Digital W Expansive reach of 150 million engaged audience in the highest value cohorts Proprietary data and analytics through ForbesOne platform Odise Driving shareholder value through technology enabled membership and consumer offerings in large addressable markets Accelerated growth in consumer businesses, led by Marketplace and Forbes Vetted Significant pipeline in late stage development Ideally positioned to bridge traditional and web3-native audiences To drive consumer and enterprise adoption across Web3 Greater customer engagement, loyalty and new revenue streams Strategic partnership with Binance Adjusted EBITDA is defined as net income before interest expense, income taxes, depreciation and amortization expense, deferred compensation, management fees, minority interest expense, restructuring charges, impairment and certain discrete items impacting a particular segment's results in a particular period. For details, please refer to appendix "Reconciliation from Net Income to Adjusted EBITDA Free cash flow defined as: net cash provided by operating activities less net cash used in investing activities. GREATER CAPITALISM Forbes Appwalla Febr 4. The Forbes pot Forbes Forbes WORLD'S BILLIONAIRES LIST 9#10Executive Summary 11 21 A Transformation Story From Print To Digital To Consumer ttelal 2010 5% Brand Extension 51% Print circulation Excludes Marketplace Includes Marketplace 5% 95% Media 2019 35% Consumer & Brand Extension 11% Print circulation (1) Digital W 30% 4% Brand Extension Cdis 65% Consumer App 2021 47% Consumer & Brand Extension 5% Print circulation 25% 21% Forbes 53% 10#11Executive Summary 1) Fites Dive Strategic Partnership with Binance telal Forbes | Assumes Forbes is debt-free, cash-free at closing BINANCE Digital W IS 010 Cdis Financial Strategic App $200 million strategic investment, representing 24% pro-forma ownership Subject to same 1 year lock-up as sponsor and rollover shareholders. Full alignment on long term commitment to Forbes Depending on redemptions, 52-76% of shareholding will be subject to lock up(¹) Financial investor with strategic resources Clear synergies between Forbes' broad and high value audience and Binance's innovation to develop blockchain and web3 initiatives Operational Forbes Formation of digital asset steering committee 2 members on Forbes' 9 member board of directors 11#12In millions Sources & Uses Uses Cash to Balance Sheet Secondary to Existing Shareholders(¹) Shareholder Equity Rollover Estimated Sources & Uses and Illustrative Pro Forma Valuation SPAC Sponsor Equity Transaction Fees & Expenses Total Uses Sources Cash from Magnum Opus Trust(2) Binance PIPE Other PIPE Investors Shareholder Equity Rollover SPAC Sponsor Equity Total Sources 11 2) Executive Summary 3) 4) 5) 71 Any redemptions will impact the amount of secondary proceeds This amount will be reduced by the amount of cash used to satisfy any redemptions $ $ 145 $ 437 $ 183 50 18 833 03 Investor presentation figures Per 2021 Audit isinin in un in $ $ in sinisis $ $ $ $ $ $ 200 200 200 183 50 833 Excludes the impact of warrants and management equity compensation and assumes no redemptions Assumes Forbesis debt-free, cash-free at closing Company estimates. Please refer to "Use of Projections" portion of the disclaimer G 17.4% 52.5% 22.0% 6.0% 2.2% 100.0% C % 24.0% 24.0% 24.0% 22.0% 6.0% 100.0% Transaction Overview(3) Pro-forma shares outstanding Share price Pro Forma Equity Value Less: Pro Forma Net Cash(4) Less: Amortization and NOL Tax Benefits(5) Pro Forma Enterprise Value, Net of Tax Benefits 2021 Metrics per Projections(6) Revenue EBITDA 2021 Metrics per Actuals(7) Revenue EBITDA Pro Forma Ownership Rollover Shareholders Non-Binance PIPE Binance PIPE SPAC IPO Shareholders SPAC Sponsor Equity Total sss 225 $ 46 $ 259 un n $ 60 $ $ 183 $ 200 $ 200 $ 200 $ 50 $ 833 is in iis in in Forbes 83 10 833 $ (145) (55) 633 sisi $ $ 2.8x 13.8x 2.4x 10.5x % 22.0% 24.0% 24.0% 24.0% 6.0% 100.0% 12#13Executive Summary 1] 21 EV/ 2021 Revenue Ftes Dive EV/ 2021 EBITDA Compelling Valuation Versus Public Comparables... Forbes 2.4x 10.5× Source: Audit/Proxy, FactSet as of Feb 18, 2022 tolal ES 2.9x 18.0x wwth Calculated based on pro forma enterprise value net of tax benefits of $633M 2021E results based on consensus estimates Media GX Median: 4.7x 6.4x Median: 15.5x 15.58 4.7x Digital W 8.7x Cdis DISNEY 4.6x 30.6x Branded Consumer 124 Median: 4.0x -3.4x- W P 26.0x 4.7x Median: 28.3x 15.8x App N 2.3x 44.5x Forbes Web 3.0 5.1x 10.1x (2) 13#14Executive Summary 2021/2020 Revenue Growth % 2021/2020 EBITDA Growth % ...With Strong Metrics Across Growth and Profitability 2021 EBITDA margin % Forbes 40.2% 85.5% 23.3% Source: Aude / Proxy, FactSet as of Feb 18, 2022 11 2021E results based on consensus estimates ES 16.3% 33.4% 15.8% Media G Median: 37.2% 41.2% Median: 38.8% 57.2% Median: 41.4% 41,4% 8 37.2% COMB 38.8% 54.2% Dual WH DISNEY 8.9% Cdise 12.7% 15.0% Branded Consumer Median: 31.1% 59.3% W 12.4% Median: 10.8% 13.1% 14.3% Median: 14.1% 29.9% App N 49.9% (23.8%) 5.1% Forbes Web 3.0 473.3% 606.3% 50.9% (2) 14#15Executive Summary Proposed Board of Directors Global, Visionary, Diverse Mike Federle Chief Executive Officer Forbes Bill Qian Head of Investment tela BINANCE Directors Jeffrey Yam Executive Director |本 INTEGRATED CAPITAL Patrick Hillmann Global Chief Communications Officer BINANCE CAMER Digital W Jonathan Lin Chief Executive Officer MAGNUM OPUS Cdis App Independent Directors Lynne Biggar Former Executive Vice President & Chief Marketing Officer VISA Shelley Simms General Counsel & Chief Compliance Officer Xponance Kevin Leung Managing Partner PROSPERA LAW LLP Forbes Nick Bell Executive G 15#16Forbes Overview Presented by: Mike Federle, CEO of Forbes Forbes 16#17Emtve Kommy Forbes Overview "I wanna be on the cover of Forbes magazine/ Smilin' next to Oprah and the Queen." - Bruno Mars, "Billionaire" Success Success in Pop Culture Technology & Ametli Forbes is a Brand for Success and Validation "Tell 'em that I'm gunnin' for the top: Forbes/ Headed to the top, dot org." Nicki Minaj, "Last Chance" Cate "Just call me Forbes.com/ In case y'all forgot, New York is still mine." AA Weal Overview - Jay Z, "I Get Money (Remix)" Forbes 30 30 Apocal 400 Forbes , HA RICHEST SELF-MADE WOMEN A comments i de The Midas List Validation Leading Validation Platform Forbes WORLD'S BILLIONAIRES LIST Forbes Forbes 50 50 17#18Dekrutive Söhntmary Forbes Overview Media Forbes.com Brandvoice Source: Audit / Proxy telal Forbes Ecosystem Today A Trusted Information Eco-system Supported By Technology Our Businesses B&Oth Brand Extensions Conferences Insights Magazine Licensing Reprints Consumer Digital subscriptions Marketplace. Newsletters E-commerce Highly complementary and synergistic business 2021 Revenue of $259M & EBITDA of $60M (23% margin) 50 50 DA WH Forbes 400 38 30 America's 50 Top Given Our Channels Fiebes WORLD'S BILLIONAIRES LIST Ce Forbes CMO NEXT Best in class media brands and franchises Forbes The Midas List RICHEST SELF-MADE WOMEN Forbes 01 ONE bertie™ AD TECH Our Technology Leading cutting-edge digital infrastructure Forbes 18#19Deutive Summary Forbes Overview Highlights of a 104 Year Iconic Brand Flagship franchises Digital milestones Brand extensions FORBES MAGAZINE Forbes magazine, founded by B.C. Forbes and Walter Drey, publishes first issue 1917 The Forbes 400 Forbes 400 Ist launches 1982 1987 Forbes Billionaires list launches WORLD'S BILLIONAIRES TINT Forbes Forbes.com launches, making it one of the first media web sites 1996 1990 Forbes publishes first international edition - Forbes Von Burda, Germany CAMBO ForbesWomen Forbes Woman launches 2008 2001 Forbes hosts first Forbes Global CEO Conference in Singapore Forbes O DA WHAT Forbes 30 30 Forbes publishes first 30 Under 30 List 2012 2010 Forbes launches native advertising platform for advertisers Forbes Brand Voice Cdis A GLOBAL CAMPUS Launches Forbes School of Business online 2012 Forbes School of Business 2013 Forbes launches conference business App bertie Forbes.com relaunches, debuting a new Al assisted publishing CMS 2018 2013 Digital surpasses print revenues for first time Forbes Profiles Forbes MARKETPLACE Focus on consumer 2021 2020 150 million digital audience Forbes 2022 Strategic partnership with Binance BINANCE Forbes DIGITAL ASSETS 19#20Detentive Summary Forbes Overview 01 telal bertie B&Oth Our Strategy: Consumer Offerings Monetizing Our Captive Audience Through Proprietary Data Driven Insights 600+ Unique Data Points 1B+ Unique Global Users in Data Set 100% Uplift in Engagement Garnering Data And Insights DA WH Forbes DIGITAL ASSETS Forbes Differentiated Consumer Offering Cdis Driving Monetization Forbes Profiles Forbes MARKETPLACE A Forbes VETTED Content Membership & Communities Advertising Q¹¹ Curated content and experiences to drive increasing customer lifetime value Forbes 20#21Expansive Reach of Audience Online, Offline, Across The Globe... 1) 2) 3) DIGITAL (¹) 150M Digital Ecosystem 99% Organic Traffic to Forbes.com 1.9B Annual Pageviews PRINT(2) 5.0M Readers 4.3M Average Issue Audience 2.2M Average Noted Audience Google Analytics Dec 2021 MRI Doublebase 2021, GFK MRI Starch YTD 2021 Avg (Jan-Nov ComScore Dec 2021 SOCIAL MEDIA 42M Social Media Followers 17M Digital W Twitter Followers 17M LinkedIn Cdis RANKING (3) Top 150 Global Property on Internet Top 50 U.S. Property on Internet App 1/5 U.S. Population / Month WORLDWIDE EDITIONS 47 Global Editions 80 Countries Forbes 27 Languages 21#22Dessutive Summary 1) 2) 3) DEMOGRAPHICS 47/53 Male/Female %(¹) Expansive Reach of Audience ...And Across Diverse And Highest Value Demographic Cohorts 62/38 U.S/ International %(2) tela ComScore Dec 2021 Google Analytics Dec 2021 Quantcast Nov 2021 EXECUTIVES(¹) #1 Executive Reach Rank 25.1% Digital W Executive Reach% Cdis HIGH VALUE COHORTS(3) 34% More Likely to Reach $150K+ income reader 36% More Likely to Reach Grad School Educated 45% College Educated Population Reach MEMBERSHIP 500K Print Subscribers 27 Paid Newsletters 27 Languages Forbes 22#23Deutive Summary Millions of users Forbes WS.J Bloomberg CHN BUSINESS Competitive Position (1/2) Leading Position: Total Users, HNW And Across C-suite The Atlantic ESTOMPANY WIRED Entrepreneur Inc. FORTUNE 11.9 Economist BUSINESS DAILY Forbes Overview Total MAU 5.9 9.7 4.9 Source: ComScore Dec 2021 11 27.9 24.7 22.6 18.8 HHI Household Income. 53.5 50.9 wath 42.7 74.9 Forbes WSJ CHH BUSINESS Bloomberg The Atlantic Inc. WIRED Entrepreneur FORTUNE INVESTORS BUSINESS DAILY ESTOMPANY Economist US$100K +HHI(¹) 4.5 2.6 5.7 1.8 9.3 7.8 12.2 9.2 18.2 27.9 24.9 23.7 Forbes WSJ CHN BUSINESS Bloomberg The Atlantic Odise Inc. WIRED INVESTORS BUSINESS DAILY Entrepreneur FORTUNE ESTOMPANY 0.2 Economist 0.0 C-Suite 0.4 0.8 1.4 1.1 0.8 1.3 1.9 2.4 2.9 App 3.4 Forbes CHH BUSINESS WSJ Bloomberg The Atlantic Inc. Entrepreneur WIRED FORTUNE ESTOMPANY INVESTORS BUSINESS Management 0.8 0.5 Economist 0.2 2.0 1.5 2.7 1.9 3.0 5.3 4.3 Forbes 6.3 7.6 23#24Deutive Summary Millions of users Forbes WSJ CHN BUSINESS. The Atlantic Competitive Position (2/2) Leading Position: Core Consumption Demographics Bloomberg WIRED Inc. ESTOMPANY The Economist Forbes Overview 0.1 Entrepreneur 0.7 FORTUNE 0.5 INVESTORS BUSINESS 0.0 DAILY 18-24 Source: ComScore Dec 2021. 1.8 1.8 1.8 1.2 2.6 2.5 Bwrth 2.4 4.7 Forbes WSJ The Atlantic CHN BUSINESS Bloomberg WIRED ESTOMPANY Inc. Entrepreneur FORTUNE INVESTORS BUSINESS DARY The Economist 0.7 0.4 25-34 3.1 3.0 3.0 2.4 5.8 5.1 4.5 6.5 10.4 DA WHAT 9.3 Forbes WSJ The Atlantic CHN BUSINESS Bloomberg ESTOMPANY WIRED Inc. Entrepreneur FORTUNE INVESTORS DAILY The Economist C 0.2 35-44 0.5 2.5 1.7 1.7 2.9 4.2 5.2 4.0 6.2 8.6 App 11.5 Forbes WSJ The Atlantic CNN BUSINESS Bloomberg Inc. Entrepreneur WIRED ESTOMPANY INVESTORS DARY FORTUNE The Economist 0.6 0.2 45-54 3.2 3.2 3.0 2.6 2.4 2.3 7.5 6.6 Forbes 6.3 8.7 24#25Editorial Presented by: Randall Lane, Chief Content Officer of Forbes Forbes 25#26Dessutive Samary Fites Dive Editorial wwth Staff Our Unique Editorial Model Asset Light Model Allows Us To Produce Quality Journalism At Scale 58 Beat Reporters 1,000+ In-depth Stories ~110 Lists 20+ Newsletters Staff Breaking News 30 Reporters *5,500 News Posts 21,000 Videos Contributor Base 2,500 Contributors **70,000 News, Stories, and Thought Leadership Posts CIN Editorial Model . A Forbes Unparalleled newsroom model, perfected over 10 years consisting of seasoned in-house journalists and selected contributors Unique model allows us to publish content covering news, insights, in-depth stories, investigative pieces, thought leadership articles, and research, across ~300 daily posts Scalable model allowing to quickly adjust content volume and expand coverage in critical areas through our contributor model - web3, Al, gaming, green tech and other timely emerging beats Daily content becomes available across additional formats such as newsletters, onsite and social video Continue to invest in premium content creation with a focus on journalistic stories for Forbes.com and extending content into new editorial formats such as social video, long form video and audio 26#27Deutive Summary Ftes Dive 400 The Forbes 1982 Our Editorial Audience Growth Fueled By World Class, Trusted Information And Content Forbes The Midas List 2001 Editorial RICHEST SELF-MADE WOMEN add at mata mentari Ä, MAKA 2015 wwth Forbes WORLD'S BILLIONAIRES LIST 1987 Iconic Platforms Dynamic history of 80 leading franchises Forbes 30 30 2011 Forbes 50 50 Dual WH 2021 美 THE WEBBY AWARDS OMMA AWARDS THE ONE SHOW FOLIO: DIGITA AWARDS IM THEDRUM MARKETING AWARDS inma International News Media Association D DIGIDAY AWARDS campaign PUBLISHING AWARDS PRSA Relations Society of America Awards Recipients of all major industry awards across multiple years Forbes 27#28Revenue & Growth Presented by: Jessica Sibley, Chief Operating Officer of Forbes Forbes 28#29Detautive Summary Jessica Sibley, COO Revenue & Operations Division Reorganizing Team To Streamline Operations And Growth Optimizing for growth and scale Oversee all revenue and growth functions Revenue & Growth Better alignment across the organization DA WHAT Alex Wood Managing Director Europe Moira Forbes Executive Vice President Forbes Women Taha Ahmed Senior Vice President, Corp Dev, Strategy & Consumer Growth App Nina Gould Chief Product Officer Vadim Supitskiy Chief Technology Officer Forbes Sherry Phillips Chief Sales & Marketing Officer Will Adamopoulos Chief Executive Officer, Asia 29#30Detautive Summary 11 21 3) 4) Segment Description Deve Forbes Ecosystem Today A Trusted Information Eco-system Supported By Technology 2020 Revenue ($185M in total) 2021 Revenue ($259M in total) Key Drivers Historical Long Term Growth(3) Revenue & Growth 2021 YOY Revenue Growth % (40% in total) Excludes Marketplace Includes consumer segment and Marketplace 2010 to 2019 historical CAGR Reflects digital only Media (¹) Content generation and digital advertising solutions $125M $138M DA WH Digital advertising spend, new platforms 8-12%(4) 11% Ce Brand Extensions Extension of Forbes brand into recurring revenues $42M $55M Events, licenses and contract renewals 20-30% 31% Powered by our proprietary data, technology & infrastructure Consumer(2) High value consumer product offerings $18M $66M Forbes Membership, horizontal/vertical expansion, new products nm 266% 30#31Deutive Summary Forbes Forbes Brand Voice Forbes.com telal Media: Data Driven Advertising Blue Chip Client Portfolio With Diversified, Premium, And Digital Revenue Mix Revenue & Growth BrandVoice Leading flagship website for the Forbes brand with direct and programmatic advertising Industry-leading brand content platform offering a range of tailored advertising solutions 75M MAU 300+ Daily Posts 35+ Editorial Newsletters 400+ Partners to Date 23,000+ Posts 336M+ Page Views Luxury Technology Financial N Consulting LEXUS PATEK PHILIPPE GENEVE PHILIP MORRIS MACALLAN +ableau Capital One citi TOYOTA T Mobile DELL Google aws servicenow. splunk> SAP RH ROCK HOLDINGS ENTERPRISE Forbes WILLIAM GRANT & SONS Bank of America. INVE paloalto Fidelity EY KPMG Deloitte. 31#32Detentive Summary Forbes CEO FORBES GLOBAL CEO CONFERENCE THE WORLD REBOOTS Forbes CMO telal Conferences Brand Extensions: Expanding Forbes To New Verticals High Margin And Recurring Revenue Streams Leveraging The Iconic Brand Forbes CIO Forbes 3050 SUMMIT INTERNATIONAL MOMENTS DAY - ABU DHABI Forbes Forbes BLOCKCHAIN 38 50 30 Revenue & Growth Industry leading events that unite influential business leaders and industry icons with Forbes' valuable viewership COME A Adobe KPMG splunk> #paloalto® Digital W Insights Consulting business leveraging the extensive Forbes' network of C-level executives to drive data-driven insights CSIN Forbes Forbes A THE UNIVERSITY OF ALL GLOBAL CAMPUS Forbes School of Business & Technology Forbes GLOBAL PROPERTIES Ap Forbes Forbes SHOOK Councils TOP ADVISOR Licensing Geographic licensing extension into 47 global publications across 33 licensees Cross-industry extension into synergistic adjacencies including education and personal financial advisory Forbes 2021 CANADA'S BEST EMPLOYERS Forbes 2021 AMERICA'S BEST STARTUP EMPLOYERS # Forbes Forbes 2021 THE BEST EMPLOYERS FOR NEW GRADS . Forbes 2021 THE BEST EMPLOYERS FOR DIVERSITY Accolades Individuals and businesses recognized on a Forbes Ranking, cover story, or other feature can promote their industry leadership by repurposing the content for use on their own media platforms 32#33tolal Forbes VETTED Forbes PROFILES Source: Company information Revenue & Growth Consumer: A Track Record of Extending Across Adjacent Verticals Leveraging The Brand To Incubate And Scale In New Strategic Verticals E-commerce Trusted Product Reviews Providing reviews, recommendation and rankings on leading consumer products C Memberships Exclusive subscription empowering most engaged and highest potential audience Forbes MARKETPLACE A Qª Forbes Marketplace Trusted Advisor Recommendations enabling users to make informed decisions with fully integrated media opportunities for advertisers Fintech Al-powered mobile based robo hedge fund for the retail investor 33#34Technology & Growth Infrastructure Presented by: Vadim Supitskiy, Chief Technology Officer of Forbes Forbes 34#35Detentive Summary Fibres Deve Growth Infrastructure Cultivating Insights To Unlock Growth Forbes Leading Franchises Bertie™ Ⓒ Google BigQuery Technology & Growth infrastructure FMP FB Digital Subscriptions salesforce Digital W Consumer Touchpoints Experimentation Platform Customer Profile Enrichment Feature Engineering mongoDB Virtual / Live Events Proprietary Content Management System and Publishing Platform Infrastructure and Capabilities Analytics and Insights Self-Serve Data Products Customer Segmentation Platform Data Science Models Machine Learning Inference Systems Data Lake Development Data Quality Automation Google Analytics Technology Partners Cdis Google Cloud Platform in Reblaze Newsletters Google Ads App fastly YouTube Affiliate Commerce Forbes 01 docker Forbes 35#36Deutive Summary Fiber Devle Forbes 01 Forefront of Embracing Digital Innovation A Technology Enabled Platform, Tested At Scale 600+ Unique Data Points / User 1B+ Unique Global Users in Data Set 100% Uplift in performance Technology & Growth Infrastructure First Party Data Utilizes interactive touchpoints within the Forbes ecosystem to build data-rich audience segments and thematic insights. Uses machine learning and Al to group visitors based on site behavior. Highly scalable and Advertiser-Desirable data points, even without user authentication. High detail on authenticated users specific to Forbes. High availability of FPD attributes bertie 100M MAU supported 10K+ Content Pieces / Month 50K Users From 100 Virtual Events Hosted Publishing Technology Modern, cutting-edge architecture designed for speed, performance & scalability Al-powered assistant and powerful analytics engine provides insights and SEO recommendations. Optimized ad-tech stack maximizes results of direct and programmatic advertising. Scalable for affiliate and subscription businesses AD TECH 100K Advertisers 1B+ Ad Impressions delivered annually Ad Stack Technology Highly optimized ad stack for programmatic yield App Forbes 20+ Models in production 4x Uplift in CTR target on personalized recirculation unit Upcoming Innovation Models to capture propensity to subscribe, scale lookalike audiences, and deliver personalized content recommendations On-chain publishing and NFTS 36#37Detrutive Summary (1) Fiter Dive ttelal Campaign Effectiveness Case Studies 139% LUXURY BRAND More effective than no premium targeting ROI on Data Investment Continues to Improve As More Advertisers Prefer To Use Our Proprietary First Party Data Product 23% FINANCIAL BRAND In CTR with premium targeting vs ROC Technology & Growth Infrastructure 413% CONSULTING FIRM BRAND More engagement than no premium targeting 17% PHARMACEUTICAL BRAND More engagement than no premium targeting Represent change between First Party Data CPMs vs 3rd Party Data CPMs GALER C Increasing Customer Adoption and Pricing % of total Direct Sales Using First Party Data 5% 5x increase 25% 2020 2021 Forbes First Party Data Pricing vs Third Party Data (¹) 18% DELTA vs Third Party Data in 2021 37#38Consumer Presented by: Taha Ahmed, SVP, Strategy & Growth of Forbes Forbes 38#39Deenutive Summary Fiter Dive Opportunity Source: Public Fillings 11 Fidelity Investments. 2) Statista. 3) 2021 Motley Fool Investor Survey. Company data as of Jan 2022. la Consumer Roadmap Continuing To Drive Innovation Across New Product Verticals • Profiles: . wwth Forbes MARKETPLACE Ongoing Forbes Profiles • Vetted: Consumer Forbes VETTED Replicating the success of the financial advisor profiles across other numerous professional services and company lists across Forbes Marketplace: Continue to leverage our deep relationship across millions of Forbes monthly visitors to provide advice on a variety of products and services DA WHAT Provide trusted reviews to millions of people searching for authentic product recommendations Cdis i · Near-term Launch (2H 2022) Self-directed market in US 70M persons (¹) Digital advisor platform users estimated to grow from 8.8M persons in 2020 to 16.1M by 2025(2) • Investors ages to 18-34 represent $1T+ in stock market value today¹3) • Over $60T expected to be transferred. to investors ages 18-34 over next decade QForbes App Pipeline Opportunities (2022+) Forbes Careers . Forbes Digital Assets " Forbes Synergy: Forbes brand x technology 39⁹ Fintech Firmly in sectors where Forbes' audience is most engaged: finance/investing and education Asset light business model achieved through strategic partnerships with category leaders in large addressable markets 39#40Detautive Summary F Deve ngagement Recurring Revenue telal Value for Forbes Membership - Forbes Profiles Replicating The Model Across Other Key Categories And Lists Proprietary Consumer - Forbes HONGARE FORBES LISTS PEOPLE DA WHAT C THE BEST EMPLOYERS WOMEN COMPANIES IRMINING THE BEST EMPLOYERS DIVERSITY PLACES Haben 2011 AMERICA'S BEST STARTUP EMPLOYERS App ommunity Validation Value Proposition for Members Forbes Publicity 40#41Detautive Summary 1) Fiber Devle Membership - Forbes Profiles Financial Advisors Vertical telal Company Data. Public Data. Andy Burish #1 # 30 Consumer AMERICA'S TOP ADVISORE "So far this year with Forbes, we've brought in about $33 million of new assets in the first 9 months...It takes years and years to develop your brand, but this is easy. Because the Forbes brand is going to attract them to you... [Forbes Profiles], I'd pay double.." -Andy Burish, 2021 Top Advisor Summit Raj Sharma #1 BEST-IN-STATE – M. A. #10 AMERICA'S TOP ADVISORS "Forbes gets 150 million unique visitors a month. That's impossible to replicate. Last week, $26 million in cash came in... that was 100% because of Forbes and the profile. The $10,000 you invest in Forbes is an absolute no brainer." -Raj Sharma, 2021 Top Advisor Summit Cdis $3,500 Basic 189% More profile views with an upgraded premium profile¹ App Annual Package Plans $6,500 Select Selected Partners and Firms 2021 Forbes/SHOOK Top Advisor Summit Notable Attendees Key Statistics J.P.Morgan AIG Asset Management BNY MELLON INVESTMENT MANAGEMENT #1 Reach to HNW investors with $1M+ portfolio Bill Miller, Chairman, CIO & Founder, Miller Value Partners Thomas Lee, Manager Partner, Fundstrat Global Advisors Stephen Schwarzman, Chief Executive Officer, Chairman & Co-Founder of Blackstone Jeremy Siegel, Professor, Wharton School Forbes Blackstone Fidelity $9,500 Partner 2.4M Forbes.com Reach to CxOs(2) CAPITAL AMERICAN GROUP FUNDS UBS OPPENHEIMER 41#42Deve Source: Public Filing 11 tela Best Credit Cards Forbes Marketplace Consumer Vertical With Industry Leading Margins Smart Financial Decisions Made Simple Best Homeowners Insurance wwth Helping you make informed financial decisions News, reviews and advice backed by deep expertise Independent, objective coverage of all personal finance topics Market data as of Feb 18, 2022. Forbes MARKETPLACE Best Personal Loans Best Banking Products Consumer Best Travel Insurance Best Mortgages DA WHAT 0 0 0 0 Best Car Insurance C Best Student Loans + Best Life Insurance Best Student Loan Refinance App Key Statistics 10.8M Average monthly page views +665% YoY FY2021 Revenue Growth Rate 24% FY2021 EBITDA Margins Key Comparable nerdwallet (1) $0.8B¹ Market Capitalization Forbes 42#43Deutive Summary VETTED tela Forbes Shopping: Enabling Users To Make Informed Decisions Capturing The Global eCommerce Opportunity Forbes Trusted Product Reviews + Recommendations VETTED The Tu Bangi Yum Marm-in I Tried The Daily Harvest Smoothies -Here Are My Honest Thoughts Source: Public Filings, company data. Forbes That Are Soft, Arbeni CTS H Prinzen Consumer Get A Heart-Pumping Workout With 13 Of The Best Treadmills For Home Use F de pe will inte green ste Quarta Diperuute 5 Keto And Low Carb Meal Delivery Services That Make Special Diets Easier Lindgruber İnd F e pergat pendeve te ndi une The Best Luggage For Traveling In 2021 F CİN - Pr kamrat en regted. The who have been founding about a mualli Key Statistics 21M+ Clicks To Brand Partners +57% Click Through Rate 80% FY2021 Gross Margin +186% YOY FY2021 Revenue Growth Rate Forbes 43#44Note: 11 2) Fiter Dive investing Focus Detal P Value Vault en Buffet www starting his caree Q.ai: Fintech First Ai-powered Robo Hedge Fund For The Retail Investor . Al jutá pour money to 1 telal QForbes Kit Features Emerging Tech One of the hottest tech companies taking us into the futur "Let Al Do The Work" Investing Focus Candon, goldfis 117. Inducant aeromo dativen zum voch kali $120,656.27 NIEDRICT NA CHRONO wwth Performance Delatn AV D $3,656.00 Available All data as of Feb 8, 2022. Growth Rates based on Trailing 3 months calculation. Represents last known post-money valuation. Source: Pitchbook.. Wealthfront was acquired by UBS, Source: Pitchbook Investment Kits BARKAN KE DEN NAARASTASE of ducato fan J $8.04.00 Consumer THE Q¹⁰ Al-Powered Investing in the palm of your hand andkly analysheip aur money grew C YOXLAYIRD Key Statistics 75K Interested Email List AWARDS Awards and Recognition GLOBAL FINTEEN 2 20 BENZINGA 20 LISTMAKER +113% +64% Growth in Opened Brokerage Accounts) App Install Growth US Brigh App TECH overth FINALIST Rising Star of the Year Key Comparable Company Valuations (2) wealthfront $1.4B (3) STASH M $1.4B M1 Finance FINTECH REAKTHROUCH AWARDS $1.4B Betterment $1.3B Forbes +52% User Registrations Growth BEHTINGA GLOBAL FINTECH AWARDS LISTMAKER 2021 TITAN $438M#45Digital Assets & Web3 Presented by: Taha Ahmed, SVP, Strategy & Growth of Forbes Forbes 45#461) 2) 3) 4) Fiter Deale Digital Assets Still in Its Early Innings of Adoption Number of internet users (million) ttelal 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 0 Crypto user growth resembles early days internet user growth wwth 2011 2013 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 19901992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 Internet users 42% Millennials aged 25 to 35 as % of bitcoin users Crypto users Developer activity based on crypto stars on Github Startup activity based on crypto first rounds funding via Pitchbook 800 700 600 500 400 300 200 100 0 users worldwide Number of Blockchain wallet (million) Source: Company Data, Statista, The World Bank, Crypto Parrot, NYDIG Number of Internet users is calculated by individuals using the Internet (% of population) multiplied by world population data from World Bank Social media activity based on comments on crypto-related subreddits Digital Assets & Web3 22% Adults own bitcoin in US Social Media Activity (2) 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 Virtuous cycle of awareness, developer activity, and investment to drive continued J-curve adoption Developer Activity (3) 500,000 400,000 300,000 200,000 100,000 0 Startup Activity (4) N 8:00 200 0 2010 2011 2012 App 2013 CAGR: 208% CAGR: 74% CAGR: 54% 2014 2015 2016 Forbes H. ti 2017 2018 2019 46#47Centul ummary 1=1! Source: Company Data. Well Positioned To Drive Digital Adoption NetEase Games Bloomberg ON BUSINESS. VALVE JPMORGAN CHASE & CO. 12 cíti ▸ PNC CNBC EA Gewil ka Traditional ACTIVISION EPIC BIZZARD GAMES REUTERS WS.J BANK OF AMERICA WELLS FARGO Digital Assets & Web3 FT FINANCIAL TIMES Forbes 150M Engaged Audience 104 year Iconic Brand Web3 Ecosystem Overview B Web3 Native coinbase NonFungible COINTELEGRAPH CoinMarketCap coindesk NT A Blockfolio delta rt K KnownOrigin FFTX Mkraken Forbes Decrypt TRADEVIEW MARKETS DappRadar anim ca BRANDS CoinGacko CCh 47#48Excities Semetary F Profiles & Lists Price & Data Tracking de Grand Forbes in Metaverse 8 Cal Forbes to Drive Consumer and Enterprise Adoption Across Web3 luctur Application connectivity commer Digital Assets & webs INILA THAN Forbes A NEW BILLIONAIRE Finaal Oviirview EVERY DAY THE FUTTER BES Perak PREKET KELL Akim Csingu News & Editorial Decentralized Education € 岩 Forbes NFT Foundry Conferences Drive greater customer engagement, loyalty and new consumer and enterprise revenue streams 48#49Financial Overview Presented by: Mike York, CFO of Forbes Forbes 49#50Deutive Summary In millions USD Deve Consolidated Revenue Healthy topline growth... $211 2019A tela Attractive Financial Profile Healthy Top-line Growth And Improving Margins $185 wwth 2020A YoY growth: 40% $259 Digital W 2021A Finandal Overde Adjusted EBITDA (¹) ...driving accelerated EBITDA growth $40 App 2019A $33 2020A YoY growth: 86% $60 2021A Forbes Source: Audit / Proxy Adjusted EBITDA is defined as net income before interest expense, income taxes, depreciation and amortization expense, deferred compensation, management fees, minority interest expense, restructuring charges, impairment and certain discrete items impacting a particular segment's results in a particular period. For details, please refer to Appendix "Reconciliation from Net Income to Adjusted EBITDA* 1] 50#51Dessutive Summary In millions USD Deve laa Full Year (2021A) Financial Performance Accelerating growth (+40% YoY) and Profitability (+86% YoY) Consolidated Revenue % YoY $185 2020A Adjusted EBITDA (2) %YOY $33 2020A +22% $38 Forbes Media +24% $10 Digital W Forbes Media +665% $38 Marketplace nm $14 Finandal Overde Marketplace -24% $(2) Other (¹) nm $4 Other (1) +40% $259 2021A +86% $60 2021A Forbes Source: Audit/Proxy 11 21 Includes qail. Adjusted EBITDA is defined as net income before interest expense, income taxes, depreciation and amortization expense, deferred compensation, management fees, minority interest expense, restructuring charges, impairment and certain discrete items impacting a particular segment's results in a particular period. For details, please refer to appendix "Reconciliation from Net Income to Adjusted EBITDA 51#52Fire Devle tela Consumer Forbes strategically placed at nexus of a consolidating landscape M&A and Partnership Opportunities Lever To Further Accelerate Growth And Drive Shareholder Value CBINSIGHTS ✔PitchBook. IDG yahoo! anima BRANDS INVESTORS BUSINESS DAILY DIGIDAY AWARDS W WEALTH-X coinbase Forbes clubhouse Cl AXIOS Investing.com TA TECH AMA M MASTERCLASS Media BENZINGA NIKKEI TE INSIDER ΤΕ News Corp skills Seeking Alpha DA WHAT crunchbase Brand Extensions Linked in α Finandal Overde Ongki Evaluation Criteria • Forbes Strategic and target domain fit Clear synergies: Great product / service and ability to leverage Forbes' strengths in brand, traffic, data, and editorial Accretive valuation 52#53Closing Remarks Presented by: Jonathan Lin, CEO of Magnum Opus Forbes 53#54Deutive Summary 2 Closing Remarks Fiter Dive tolal 5 LO A strategic and scarce asset CAMER Digital W History of innovation and transformation from print to digital and now consumer 3 Thematically attractive at the forefront of consumption and technology, with a leadership opportunity in digital assets and web3 4 Strong fundamental foundation with revenue growth, scalable margins and free cash flow generation Cdis 7 Compelling valuation versus public comparables Well capitalized with multiple avenues for shareholder value creation and support from strategic shareholders Public market ready with a track record of delivering against expectations led by a proven management team Closing Remarks GREATER CAPITALISM Sem Forbes 4 The Forbes F Forbes Forbes WORLD'S BILLIONAIRES LIST QAY 54#55Appendix Forbes 55#56Detentive Summary millions USD Media 2021 Actuals vs. Projections (2) % Growth Brand Extension % Growth Consumer¹2) % Growth Total Revenues % Growth Memo: Print circulation Media ex-print circulation¹2) % Growth 1) 2) Fiter Dive Source: Audit / Proxy ttelal 2019 137 64 9 211 24 114 Actuals 2020 125 -9% 42 -34% 18 92% 185 -12% 15 110 wwth -3% 2021 138 11% 55 31% 66 266% 259 12 126 15% Projections Actual vs. 2021E Projections 138 11% 47 12% 40 122% 225 CAMER 22% 0% 17% 65% 15% Digital W millions USD Adjusted EBITDA % Margin % Growth Cdis % Incremental margin Per December 2021 Investor presentation. Marketplace reclassified from media to consumer segment as management believes that is better representation of the nature and drivers of the business. 2019 40 19% Actuals 2020 33 18% -18% 27% 2021 60 23% 86% 37% Projections Actual vs. 2021E Projections 46 20% Forbes 34% 31% 56#57Detentive Summary thousands USD Reconciliation from Net Income to Adjusted EBITDA Net income Interest ex 1) 2) se Interest income Income taxes Deve Depreciation and amortization Stock-based compensation Management fees Gain on sale on FMHK Severance and other expenses Goodwill impairment charge Other(2) Adjusted EBITDA Years Ended December 31, 2019 7,637 1,183 -154 6,739 13,943 2,583 1,062 5,187 1,432 39,612 2020 7,540 941 -25 4,006 14,179 -2,270 980 5,508 727 942 32,528 2021 38,001 787 -24 5,295 14,771 3,240 1,008 -1,577 4,643 -5,803 N 60,341 Source: Audit / Proxy This consists of severance related expenses and costs incurred in businesses that are no longer operational Relates to the amortization of deferred revenue that was initially recognized at fair value during the 2014 business combination pursuant to a Membership Interest Purchase Agreement executed on July 16, 2014 Forbes 57#58Forbes ANALYST DAY FORBES ON FIFTH Friday, February 25 1:00-3:00 p.m. ET