#1IIII INTERMEDIA® CLOUD COMMUNICATIONS Investor Presentation March 2021 CONFIDENTIAL#2Safe Harbor This presentation and information contained herein constitutes confidential information and is provided to you on the condition that you will hold it in strict confidence and not reproduce, disclose, forward or distribute it to any third party in whole or in part without the prior written consent of Intermedia Cloud Communications, Inc. (collectively with its subsidiaries, "Intermedia" or the "Company"). The information contained in this presentation is for informational purposes only. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. Neither the Company or any of its affiliates, nor Morgan Stanley Co. LLC, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Evercore Group L.L.C., Jefferies LLC, William Blair & Company, L.L.C., KeyBanc Capital Markets Inc., TD Securities (USA) LLC, Stephens Inc., or Loop Capital Markets, LLC., make any representation or warranty, express or implied as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of any of the information or opinions contained in this presentation. This presentation has been prepared without taking into account the investment objectives, financial situation particular needs of any particular person. The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the platform and solutions of Intermedia. No Offer This presentation regarding Intermedia shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these 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. Sales and offers to sell Intermedia securities will only be made in accordance with the Securities Act of 1933, as amended, and applicable SEC regulations, including prospectus regulations. We have filed a registration statement on Form 5-1 (File No. 333-253626), as amended, with the SEC for the offering to which this presentation relates, but the registration statement has not yet become effective. Before you invest, you should read the prospectus in the registration statement for the transaction to which this communication relates and other documents Intermedia files with the SEC for more complete information about Intermedia and the proposed offering. When available, you may obtain copies of these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus may be obtained from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-866-803-9204, or by email at [email protected]. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these 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. Forward-Looking statements: This presentation contains forward-looking statements that reflect the Company's current expectations and projections with respect to, among other things, its financial condition, results of operations, plans, objectives, future performance and business. These statements may be preceded by, followed by or include the words "anticipate," "estimate," "expect." "project," "plan," "intend," "believe," "should", "can have," "likely" and the negatives thereof and other words and terms of similar meaning. Forward-looking statements include all statements that are not historical facts. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith beliefs and assumptions as of that time with respect to future events. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of this date. Neither Intermedia nor Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Evercore Group LLC., Jefferies LLC, William Blair & Company, L.L.C., KeyBanc Capital Markets Inc., TD Securities (USA) LLC, Stephens Inc., Loop Capital Markets, LLC., undertakes any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. Market and Industry Data This presentation includes information concerning economic conditions, the Company's industry, the Company's markets and the Company's competitive position that is based on a variety of sources, including information from independent industry analysts and publications, as well as Intermedia's own estimates and research. Intermedia's estimates are derived from publicly available information released by third party sources, as well as data from its internal research, and are based on such data and the Company's knowledge of its industry, which the Company believes to be reasonable. Except for the McKinsey & Company, Intermedia Go To Market Strategy Study, March 2019, the independent industry publications used in this presentation were not prepared on the Company's behalf. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. The Company has not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this presentation. Non-GAAP Financial Measures This presentation contains the financial measure Adjusted EBITDA, Non-GAAP Sales and Marketing Margin, Non-GAAP Research and Development Margin, Non-GAAP General and Administrative Margin, and Non-GAAP Gross Profit Margin, which are not recognized under generally accepted accounting principles in the United States ("GAAP"). The Company believes that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and assists in comparisons with other companies, some of which use similar non-GAAP financial information to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non- GAAP measures used by other companies. Adjusted EBITDA, Non-GAAP Sales and Marketing Margin, Non-GAAP Research and Development Margin, Non-GAAP General and Administrative Margin, and Non-GAAP Gross Profit Margin have limitations as analytical tools, and you should not consider these measures either in isolation or as a substitute for other methods of analyzing the results as reported under GAAP. INTERMEDIAⓇ CONFIDENTIAL 2#3Offering Summary |||| ISSUER EXCHANGE/TICKER OFFERING SIZE FILING RANGE OVER-ALLOTMENT OPTION USE OF PRIMARY PROCEEDS SELLING STOCKHOLDER LOCK-UP AGREEMENT LEAD BOOKRUNNERS JOINT BOOKRUNNERS CO-MANAGERS EXPECTED PRICING INTERMEDIAⓇ Intermedia Cloud Communications, Inc. NASDAQ / INTM 12,244,898 Shares (83% Primary, 17% Secondary) $23.00 to $26.00 per share 15% (100% Secondary) Repayment of Indebtedness, General Corporate Purposes Madison Dearborn Partners 180 days for the Issuer, Selling Stockholder, Executive Officers, Directors and substantially all pre-IPO stockholders Morgan Stanley, JP Morgan Credit Suisse, Evercore ISI, Jefferies William Blair, KeyBanc Capital Markets, TD Securities, Stephens, Loop Capital Markets On or around March 31st CONFIDENTIAL الها 3#4Today's Presenters |||| Michael Gold CEO INTERMEDIAⓇ CONFIDENTIAL Jason Veldhuis CFO#5CRAZY CISCO WEBEX VIDEO MEETINGS ZOOM BUSINESS PHONE AVAYA RINGCENTRAL EMAIL/PRODUCTIVITY GSUITE + CONTACT CENTER FIVE 9 OFFICE 365 NICE INCONTACT STORAGE + DROPBOX SECURITY PROOFPOINT + CHAT MS TEAMS BOX ΟΚΤΑ CISCO SKYPE GOTOMEETING ZOHO MS ONEDRIVE GOOGLE DRIVE GENESYS MITEL MCAFEE SLACK SIMPLE ONE Communications Platform ONE Low Monthly Rate VIDEO/ PHONE / CHAT / CONTACT CENTER / FILES / EMAIL IN POWER 2020 CEKTED TED INTERMEDIA® CLOUD COMMUNICATIONS ALL TRADEMARKS & COMPANY NAMES ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS AND ARE USED FOR IDENTIFICATION PURPOSES ONLY#6A Leading, Proprietary Communications and Collaboration Platform INTERMEDIA VIDEO CONFERENCING B CONTACT CENTER 5804 INTEGRATED USER EXPERIENCE VOICE TEAM CHAT AND SMS FILE COLLABORATION INTEGRATIONS WITH THIRD-PARTY BUSINESS APPLICATIONS HOSTPILOT CONTROL PANEL FOR PARTNERS, ADMINS & USERS 99.999% UPTIME SERVICE LEVEL AGREEMENTS J.D. POWER-CERTIFIED TECHNICAL SUPPORT ADVANCED SECURITY & COMPLIANCE CONFIDENTIAL O EMAIL & PRODUCTIVITY 6#7Intermedia at a Glance¹ $ Strong Financials -$250M Revenue -20% Adjusted EBITDA Margin¹ ▪ Fast-Growing & High Margin UCaaS INTERMEDIAⓇ 30% Revenue Growth 70% Gross Sales Growth Partner-Centric Go-to-Market 83% Gross Sales via Partners 123% (150%) UCaaS Partner (CORE) $-Based Net Expansion Rate Game-Changing NEC Partnership -80M On-Prem Installed Base 3rd Largest On-Prem Base Globally " CONFIDENTIAL Loyal Customers 0.8% UCaaS Revenue Churn 84 NPS for Tech Support² El R&D-Centric Workforce 37% in IP Development Roles 1. All financial metrics represent full year 2020 metrics as of year end 2020 and "UCaaS Partner (CORE) S-Based Net Expansion Rate" is as of Dec. 2020. All comparisons are of 12/31/20 metrics to 12/31/19 metrics, Non-financial metrics are as of year end 2020. Glassdoor Rating as of February 2021 2. Net Promoter Scores (HPS) as of December 2020, average client services score (onboarding: support) 4.8/5.0 Glassdoor Rating¹ 7#8Favorable Underlying Trends and Characteristics That Drive Intermedia's Growth Companies Modernizing their Legacy Communications Infrastructure 1 3 SMBS Reliant on Channel Partners to Address Their IT Needs Estimated 70% of $500B+ IT spending by US companies influenced by 160,000 solution providers in the country's IT channel ecosystem¹ 1. Based on CompTIA, IT Industry Outlook 2021, November 2020 INTERMEDIA Collaboration Platforms Fundamental to Effectiveness of Increasingly Distributed Organizations 2 4 CONFIDENTIAL Office GOD INTERMEDIA ← Mobile Integrated Solutions Replacing Suboptimal, Siloed Point Solutions WFH INTERMEDIA 8#9Massive, Underpenetrated Market Opportunity that We Are Ideally Positioned to Address Through NEC Partnership Intermedia's Products Sold to On-Prem Installed Base of Estimated -80M Global Users Non-UCaaS Installed Base of Business Telephone Users Underpenetrated Global UCaaS Opportunity +800M Incremental Information Workers Globally Not Using Business Telephony¹ 2. -445M Business telephony users globally² 105M Cloud-based business telephony users³ INTERMEDIA 14M UCaaS Users¹ Other DO Mitel CISCO Atos NEC AVAYA Sources: Forrester, New Technologies Create The Need To Design For New Categories of information Workers, September 27, 2019; Gartner, Forecast Livified Communications Worldwide, 2017-2024, 3020 Update (October 2020), Synergy Research Group December 16,2020, Company Reports information workers defined by source (Forrester) as employees who are employed at least 30 hours per week and use a communication device for at least one hour in a typical workday Alcatel-Lucent Based on Gartner estimates Cloud-based telephony defined by source (Gartner) as enterprise-grade telephony that is owned, delivered and managed remotely by a third-party provider. The infrastructure is shared, multitenant or virtualized, and is consumed in a one-to-many model Per Synergy Research Group, Microsoft and Zoom Help to Drive Increased UCaaS Market Growth Rate, December 16, 2020 CONFIDENTIAL 9#10Investment Highlights 1 Comprehensive, Integrated Product Portfolio: One-Stop Solution for End Customers 2 Channel Partner Centric Go-to-Market Strategy: Selling Efficiently to Fragmented SMB Market 3 CORE Model With End-to-End Business Support: Differentiated Value Proposition for our Partners 4 Exclusive NEC Partnership: Unite Sold by NEC & Its Partners to NEC's Installed Base of -80M On-prem Seats 5 Multi-Faceted Growth Strategy: Partner & UCaaS Driven Compounded Growth 6 Strong UCaaS Segment Unit Economics: 6.6x CLTV/CAC, 7.0x CORE CLTV/CAC 7 Self-Funded Growth: UCaaS Fast Growth Funded by Highly Cash Generative BCA Business |||| INTERMEDIAⓇ CONFIDENTIAL 10#111 Comprehensive, Integrated Product Portfolio: One-Stop Solution for End Customers Unified Communications as a Service (UCaaS) Business Cloud Applications (BCA) ANYMEETINGⓇ VIDEO CONFERENCING CHAT DESKTOP CONTACT CENTER PRESENCE INDICATOR FAX VOICE EXCHANGE EMAIL MOBILE HostPilot® Control Panel OFFICE 365 SECURISYNC> BACKUP & COLLABORATION APPID IDENTITY MANAGEMENT AI EMAIL PROTECTION EMAIL ARCHIVING EMAIL ENCRYPTION OUTLOOK BACKUP SIP TRUNKING Striving to eliminate the need for multiple point solutions and associated costs, IT complexity as well as usability, support and interoperability issues#122 3 5 7 8 1 Intermedia Unite: Our Proprietary Flagship UCaaS Product Phone with caller ID, hold, park, flip, transfer, conference & more Group chat Video conferencing File sharing & collaboration Call history Transcribed voicemails Contact Center Receptionist view Presence III INTERMEDIA INTERMEDIA UNITE G Lesley Dunlap S. Marketing Analyt Recent Robert Jones Amelia Garcia Melanie Danon HD PCC Jay Travis Prie Lod this, but we Caroline George ni book the table for eight Should ta Diego Macias Simon Bridges Would you like to exchange it for GIF Robert Jones Marketing Consultant would there be any reason not to post that today or tomorrow? We could potenbaly benchmark the open source experiences and build on that. Let me know if that's possible.. Alternatively, we could passe on to the dev team for further discussion. They said they'd be open to it That sounds good. What d 1 Ok Let's aim for Decath, b push-back from the launch Blo 10 Start meetings, place calls, search in chat, add participants to any chat HD-quality video conferencing, screen sharing, recording & transcription, annotation, notes & Al virtual assistant 12 Integrated company directory 12#132 Channel Partner Centric Go-to-Market Strategy: Significant Sales Reach Expansion CUSTOMER OWNERSHIP RESELLERS NEC PACIFIC OFFICE AUTOMATION PROBLEM SOLVED proven IT IIII INTERMEDIAⓇ PARTNER SALES' 74% of Revenue 83% of Gross Sales INTERMEDIA AGENTS COSTCO WHOLESALE IDEACOM NWCC NORTHWEST CLOUD CONSULTING DISTRIBUTORS INGRAM JENNE' Excellence in Distribution Experts in Technology scansource Plus 7,000 other loyal and highly incentivized partners 1. Both % of revenue and % of gross sales are ARR metrics. % of gross sales represent full year 2020 metric while % of revenue represents situation as of Dec. 31, 2020 CONFIDENTIAL DIRECT SALES 26% of Revenue 17% of Gross Sales { ACCOUNT MANAGEMENT UFCGYM ROCKSTAR ENERGY DRINK COUNTY OF LOS ANGELES Public Health NOBU QUAKES Waterford BANK, N.A. 13#143 CORE Model: Differentiated and Highly Popular Proposition to Channel Partners 95% Benefits to Channel Partners of MSPs / VARs prefer reseller model due to better economics and ability to bundle and monetize additional services - 2019 McKinsey Study¹ Superior economics Customer relationship retention Low disintermediation risk Control over pricing, packaging, billing and solution bundling |||| Fosters long-term customer relationship development 1, McKinsey & Company, Intermedia Go To Market Strategy Study, March 2019 2. According to Intermedia estimates INTERMEDIA™ Benefits to Intermedia Partner loyalty Partners incentivized to grow their business on Intermedia's platform Financial and operational leverage as partner primarily responsible for customer facing activities CONFIDENTIAL ~5x higher revenue for agents under CORE model compared to traditional agent model² Traditional Agent Model Number of users Price per user MRR Upfront comp (X MRR) Months Monthly commission Year 1 Year 2 Year 3 Year 4 Year 5 Agent Revenue Agent Commissions / Profit CORE Model 50 Number of users $25 Price per user $1,250 MRR 4 $5,000 60 15% Buy price Margin % $188 Margin $ per user Months Monthly gross profit $7,250 Year 1 $2,250 Year 2 $2,250 Year 3 $2,250 Year 4 $2,250 Year 5 $16,250 Reseller Revenue $16,250 Reseller Profit CORE Model Revenue versus Agent CORE Model Profit versus Agent 50 $25 $1,250 $15 40% $10 60 $500 $15,000 $15,000 $15,000 $15,000 $15,000 $75,000 $30,000 Up to 5x Up to 2x 14#153 Empowering Partners to Sell and Manage our Solutions SELL MORE Up sell and cross sell new services and features TECHNICAL SUPPORT 24/7 J.D. Power certified support web based & live BILLING & TAXING Ability to determine telecom taxes payable by the customer (even if partner does the billing) INTERMEDIA TAXES TRAINING Online & on demand PARTNER ONBOARDING White-glove onboarding for every customer, number porting CONFIDENTIAL $5 bo MARKETING RESOURCES Brandable sales resources, pre-built campaigns SALES SUPPORT Prequalification, quoting, provisioning wizard, access to experts ORDERING Online or with sales support 15#163 World-Class Technical Support and Service: J.D. Power Certified, 84 NPS J.D.POWER 2016 CERTIFIED ASSISTED TECHNICAL SUPPORT J.D.POWER 2017 CERTIFIED ASSISTED TECHNICAL SUPPORT INTERMEDIA J.D.POWER 2018 CERTIFIED ASSISTED TECHNICAL SUPPORT 99.999% Uptime supported by financially- backed SLAS 1. As of December 2020, average client services score (onboarding; support) J.D.POWER 2019 CERTIFIED ASSISTED TECHNICAL SUPPORT Cloud Concierge ™M J.D.POWER 2020 CERTIFIED ASSISTED TECHNICAL SUPPORT 84 NPS For Technical Support¹ J.D. Power has recognized Intermedia for "exceptional support" - five years in a row. EXTERNALLY AUDITED SUPPORT AGAINST -250 CRITERIA BY TSIA CONFIDENTIAL First SaaS company to be recognized by J.D. Power and the only SaaS company recognized five years in a row. 24 / 7 / 365 Service Support Worry-Free Experience Commitment 16#174 NEC Partnership: Game Changer for Intermedia Massive User Base Highly Compelling Fundamentals Global Partner Base Powerful Brand Attractive Economics Exclusivity International Expansion INTERMEDIA -80M on-prem installed base 400+ NEC Partners w/ Agreement Accepted NEC Loyal customer and partner base Consistent with CORE Model 5-year initial term with built-in renewal options and high switching costs EMEA May '20 June '20 1H '21 APAC 1H '21 CONFIDENTIAL S CONNECT NEC UNIVERGE BLUE™ CLOUD SERVICES 17#185 Multi-Faceted Growth Strategy: Partner and UCaaS Driven Compounded Growth 000 |||| UCaaS Expansion -430M Non-UCaaS Business Telephony Users Globally¹ INTERMEDIA MI Grow with Existing Partners Based on Gartner and Synergy Research Group estimates Based on CompTIA, IT Industry Outlook 2021, November 2020 123% UCaaS Partner $-Based Net Expansion Rate 404 K Partner Network Expansion <5% Penetration of -160k IT solution providers in the U.S.² CONFIDENTIAL International Expansion <5% of Revenues from outside the U.S. NEC Capitalize on the HUGE NEC Partnership Opportunity -80M Legacy on-prem installed base 18#19Key Financial Highlights 1 2 3 4 5 |||| Success of partner centric G2M strategy underscored by continuously improving sales efficiency Rapidly growing and high margin UCaaS revenue quickly approaching majority of total company revenue Rollout of NEC expected to contribute increasingly to UCaaS growth going forward Strong CLTV/CAC unit economics driven by high margins, low churn and operating leverage of the CORE model UCaaS fast growth funded by highly cash generative BCA business INTERMEDIAⓇ CONFIDENTIAL 19#205 Newly Recruited Partners Continue Growing Their Businesses on Intermedia's Platform INTERMEDIA Rapidly Ramping UCaaS ARR from New Partners Recruited Since Beginning of 2018 Cumulative Gross Sales ARR ($000) 12,000 10,000 8,000 6,000 4,000 2,000 0 Gross Sales ARR at the end of the first year after recruitment: 2020 cohort: $3.9M vs. 2018 cohort: $0.6M 2018 2019 CONFIDENTIAL 2020 NEC partners Partners recruited in 2020 excluding NEC partners Partners recruited in 2019 Partners recruited in 2018 20#215 Consistent Delivery of Strong UCaaS Growth UCaaS ARR ($M)¹ IIII $56 Q1'2019 1. ARR based on MMR + Usage INTERMEDIAⓇ $59 Q2'2019 $69 Q3'2019 33.1% CAGR $72 Q4'2019 $80 $77 II Q1'2020 CONFIDENTIAL Q2'2020 $86 Q3'2020 $93 Q4'2020 21#226 Strong UCaaS Segment Unit Economics with 7x CLTV/CAC CLTV/CAC Economics¹ IIII INTERMEDIA Total INTERMEDIA CORE 6.6x 7.0x CORE Model Provides Significant Operating Leverage Ongoing Support Billing & Collections Reflects 2H 2020; CLTV calculated as: ARPU (incl fees)x GMX over lifetime x lifetime (years) x users/customers x 12; CAC includes Sales CAC and Marketing CAC CONFIDENTIAL CORE Partner Responsibilities Onboarding 000 Sales Marketing 22#237 SM Self-Funded Growth: UCaaS Fast Growth Funded by Highly Cash Generative BCA Business ARR by Product¹ 246 72 174 2019 +6% +28% (3%) UCaaS 262 93 169 2020 BCA Partner Gross Sales ARR Non-GAAP Gross Profit² $M 72% 82% 8.9 +34% 6.7 ill Q4'2019 1. ARR by product based on total recurring revenue (ending MRR + Usage) |||| 2. Non-GAAP Gross Profit includes phone hardware and onboarding costs 3. 2020 Adjusted EBITDA shown pre-SBC INTERMEDIA $M Q4'2020 % Partner Contribution (of Total) 56% 135 2019 0.1% CONFIDENTIAL 54% 135 2020 % Margin $M 135 2020 FCF Waterfall³ (89) 47 Gross Profit Opex Adjusted EBITDA (8) (11) (6) Purchase Capitalized Change in of PPE Software Deferred Sales Commissions 23#24Long-Term Financial Profile IIII % of Revenue Non-GAAP Gross Profit¹ Non-GAAP Sales and Marketing² Non-GAAP Research and Development² Non-GAAP General and Administrative² Adjusted EBITDA³ 2019 56% INTERMEDIAⓇ 15% 6% 11% 26% 1. Non-GAMP Gross Profit Margin includes phone hardware (UCaaS) and onboarding costs. See reconciliation to GAAP Gross Profit in the appendix 2. Excludes stock-based compensation, unit-based compensation and warrant expense. See reconciliation to the nearest GAAP equivalent in the appendix 2020 54% 18% 7% 11% 19% Long-Term Profile -57-60% -16-18% -11-13% -8-9% -20-25% Adjusted EBITDA is defined as net income (loss) before interest and other expense, net, income taxes benefit, depreciation and amortization, stock-based and unit-based compensation, Class B common stock warrants, transaction related expenses and restructuring and other expense. See reconciliation to net income (loss) in the appendix CONFIDENTIAL 24#25Investment Highlights 1 Comprehensive, Integrated Product Portfolio: One-Stop Solution for End Customers 2 Channel Partner Centric Go-to-Market Strategy: Selling Efficiently to Fragmented SMB Market 3 CORE Model With End-to-End Business Support: Differentiated Value Proposition for our Partners 4 Exclusive NEC Partnership: Unite Sold by NEC & Its Partners to NEC's Installed Base of -80M On-prem Seats 5 Multi-Faceted Growth Strategy: Partner & UCaaS Driven Compounded Growth 6 Strong UCaaS Segment Unit Economics: 6.6x CLTV/CAC, 7.0x CORE CLTV/CAC 7 Self-Funded Growth: UCaaS Fast Growth Funded by Highly Cash Generative BCA Business |||| INTERMEDIAⓇ CONFIDENTIAL 25#26INTERMEDIA CLOUD COMMUNICATIONS CONFIDENTIAL Appendix#27Strong Pro Forma Capital Structure and Liquidity . . Assumes $300M IPO (83% Primary) Use of proceeds to repay existing debt and with remaining proceeds, if any, general corporate purposes $ Millions Cash Debt¹ Net Debt Net Debt / LTM Adjusted EBITDA 1. Excludes unamortized debt issuance costs IIII INTERMEDIA Pre-IPO 12/31/2020 $24 $269 $246 5.3x CONFIDENTIAL Post-IPO 12/31/2020 $126 $144 $18 0.4x 27#28NEC Warrant on Intermedia's Equity ARR from NEC by Apr-2023¹ Min Threshold: $24M Max Threshold: $144M Number of Shares Issued at $23.00 |||| INTERMEDIA 356,141 2,136,847 1. Reflects annualization of MRR thresholds under NEC Warrants Number of Shares Issued at $26.00 370,113 2,220,676 Warrant issued to NEC as part of the partnership agreement Warrant to purchase Class A units of Ivy Parent (direct parent of Intermedia Cloud Communications, Inc. ("INTM")), which may be settled in INTM common stock • Key terms: CONFIDENTIAL Number of units exercisable: subject to MRR from NEC per the range outlined in the table Exercise price: $6.50 per unit Exercisable Date: April 6, 2023 to April 6, 2027 Assuming the estimated offering price range there would be additional shares of INTM outstanding at the time of IPO (as estimated in the table) based on NEC Warrant being: Exercisable at the time of the IPO Exercised on a net share settlement basis at the minimum/maximum earned threshold range Satisfied with INTM common stock 28#29GAAP to Non-GAAP Reconciliation |||| Adjusted EBITDA ($ in millions) Net Loss Interest and Other Expense, Net Income Tax Benefit Depreciation and Amortization Stock-Based and Unit-Based Compensation Class B Common Stock Warrants Transaction Related Expenses Restructuring and Other Expenses Adjusted EBITDA Adjusted EBITDA Margin Gross Profit ($ in millions) Total Revenue GAAP Gross Profit (+) Stock-Based and Unit-Based Compensation (+) Depreciation and Amortization Non-GAAP Gross Profit Non-GAAP Gross Margin INTERMEDIAⓇ CONFIDENTIAL 2019 ($5.5) $24.1 ($0.7) $37.2 $2.4 $0.0 $1.9 $2.6 $61.9 26% 2019 $240.5 $115.6 $0.4 $19.2 $135.2 56% 2020 ($21.7) $29.2 ($4.3) $36.8 $3.3 $1.4 $1.7 $0.4 $46.7 19% 2020 $251.6 $113.9 $0.2 $21.3 $135.3 54% 29#30GAAP to Non-GAAP Reconciliation |||| S&M Expenses ($ in millions) GAAP S&M (-) Stock-Based and Unit-Based Compensation Non-GAAP S&M Non-GAAP S&M Margin R&D Expenses ($ in millions) GAAP R&D (-) Stock-Based and Unit-Based Compensation Non-GAAP R&D Non-GAAP R&D Margin G&A Expenses ($ in millions) GAAP G&A (-) Stock-Based and Unit-Based Compensation Non-GAAP G&A Non-GAAP G&A Margin INTERMEDIAⓇ CONFIDENTIAL 2019 $37.6 $0.4 $37.2 15% 2019 $14.1 $0.4 $13.7 6% 2019 $28.1 $1.3 $26.8 11% 2020 $46.8 $2.3 $44.5 18% 2020 $18.7 $0.8 $17.8 2020 $29.8 $1.5 $28.3 11% 30