#10 0 0 0 corcentric TM Investor Presentation May 2022 1 0 1 0 NORTH MOUNTAIN MERGER CORP. 1 0 1 1#2Important Notices This presentation is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to the proposed business combination (the "Business Combination") between North Mountain Merger Corp. ("North Mountain") and Corcentric, Inc. ("Corcentric") and the related transactions. In connection with the proposed Business Combination, North Mountain has filed a registration statement on Form S-4 (the "Registration Statement") with the U.S. Securities and Exchange Commission (the "SEC"). The Registration Statement includes preliminary proxy materials that will be distributed to North Mountain's shareholders in connection with its solicitation for voting proxies in respect of the proposed Business Combination and other matters described in the Registration Statement, as well as a prospectus relating to the offer of North Mountain's securities to be issued in the proposed Business Combination. Investors, shareholders and other interested parties are advised to read the Registration Statement (and all amendments thereto) as well as other documents filed by North Mountain with the SEC in connection with the proposed Business Combination because these documents will contain important information about Corcentric, North Mountain and the proposed Business Combination. The definitive proxy statement/prospectus will be mailed to North Mountain's shareholders as of the record date established for voting on the proposed Business Combination. Interested parties will also be able to obtain copies of such documents, without charge, at the SEC's website located at www.sec.gov or by directing a request to North Mountain Merger Corp., 767 Fifth Avenue, 9th Floor, New York, NY, 10153, ATTN: Secretary, or by calling (646) 446-2700. No Representations or Warranties No representation or warranties, express or implied, are given in, or in respect of, this presentation. To the fullest extent permitted by law, in no circumstances will North Mountain, Corcentric or any of their respective subsidiaries, stockholders, affiliates, representatives, partners, directors, officers, employees, investment banks, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. Industry and market data used in this presentation have been obtained from third-party industry publications and sources as well as from research reports prepared for other purposes that North Mountain and Corcentric believe are reasonable. Neither North Mountain nor Corcentric has independently verified the data obtained from these sources and cannot assure you of the data's accuracy or completeness. This data is subject to change. In addition, this presentation does not purport to be all-inclusive or to contain all of the information that may be required to make a full analysis of North Mountain, Corcentric or the Business Combination. Viewers of this presentation should each make their own evaluation of North Mountain and Corcentric, and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. In addition, this presentation is not, and does not purport to be, an appraisal of the securities, assets or business of North Mountain, Corcentric or any other entity. North Mountain and Corcentric reserve the right to amend or replace this presentation at any time but none of North Mountain, Corcentric, their subsidiaries, affiliates, legal advisors or financial advisors shall have any obligation to update or supplement any content set forth in this presentation or otherwise provide any additional information to the recipient should circumstances, or management's estimates or opinions, change or any information provided in this presentation become inaccurate. The statements in this presentation, including all forward-looking statements, should not be relied upon as representing North Mountain and Corcentric's assessments as of any date subsequent to the date of this presentation. Forward-Looking Statements Certain statements, estimates, targets and projections in this presentation may be considered forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events, or involve the future performance of, Corcentric and North Mountain. For example, statements regarding the benefits of the proposed Business Combination, the anticipated timing of the proposed Business Combination, projections of future revenue or EBITDA, statements regarding anticipated growth in the industry in which Corcentric operates and anticipated growth in demand for Corcentric's products or services, projections of Corcentric's future financial results and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "pro forma", "may", "plan", "possible", "project", "strive", "budget", "forecast", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential" or "continue", or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based on current estimates and assumptions that are based on management's current expectations and subject to numerous risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the ability to meet stock exchange listing standards following the consummation of the Business Combination; the risk that a business combination disrupts current plans and operations of Corcentric; the ability to recognize the anticipated benefits of a business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; costs related to a business combination; changes in applicable laws or regulations; the possibility that Corcentric or the combined company may be adversely affected by other economic, business, regulatory, and/or competitive factors; Corcentric's estimates of expenses and profitability; the evolution of the markets in which Corcentric competes; the inability of Corcentric to implement its business plan; the inability of Corcentric to satisfy regulatory and licensing requirements; the impact of the COVID-19 pandemic on Corcentric's business. While the forward-looking statements included in this presentation, including the projected financial information, have been made in good faith and are based on assumptions we believe to be reasonable, there is no assurance the expected results will be achieved. Corcentric's actual results may differ materially based on the risks and uncertainties noted and incorporated herein, and the inclusion of such information in the presentation should not be regarded as a representation by any person that the results reflected in such projections and other forward-looking statements will be achieved. The risks and uncertainties described and incorporated in this presentation are not the only risks and uncertainties Corcentric may face. Additional risks and uncertainties not presently known to Corcentric, or that Corcentric currently considers immaterial, could also negatively affect the business, financial condition, results of operations, prospects, profits and value of the securities of Corcentric. You should read and carefully consider the other information in this presentation and the section entitled "Risk Factors" in the Registration Statement. corcentric 1#3Important Notices (continued) Use of Projections This presentation contains financial forecasts for Corcentric with respect to certain financial results for Corcentric's fiscal years through 2023. Neither North Mountain's nor Corcentric's independent auditors have not audited, studied, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, they did not express an opinion or provide any other form of assurance with respect thereto for the purpose of this presentation. These projections are forward- looking statements and should not be relied upon as being necessarily indicative of future results. In this presentation, certain of the above-mentioned projected information has been provided for purposes of providing comparisons with historical data. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of Corcentric or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this presentation should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved. Since the projections cover multiple years, such information by its nature becomes less reliable with each successive year. Non-GAAP Financial Measures This presentation contains certain financial information, such as EBITDA, EBITDA CAGR, EBITDA Margin, Adjusted EBITDA, Adjusted gross profit, Adjusted gross profit margin, which have not been prepared in accordance with United States generally accepted accounting principles ("GAAP"). North Mountain and Corcentric believe these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Corcentric's financial condition and results of operations. North Mountain and Corcentric believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating projected operating results and trends in and in comparing Corcentric's financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Management does not consider these non-GAAP measures 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. Participants in the Solicitation North Mountain, North Mountain's sponsor, Corcentric and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of North Mountain, in connection with the proposed Business Combination. Information regarding North Mountain's directors and executive officers is contained in North Mountain's Annual Report on Form 10-K for the year ended December 31, 2021, which is filed with the SEC. Additional information regarding the interests of those participants, the directors and executive officers of Corcentric and other persons who may be deemed participants in the Business Combination may be obtained by reading the Registration Statement and the proxy statement/prospectus and other relevant documents filed with the SEC. Free copies of these documents may be obtained as described above. No Offer or Solicitation This presentation is for informational purposes only and shall not constitute a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed Business Combination. This presentation shall also not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale, issuance, or transfer of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. corcentric 2#4Today's presenters Corcentric Doug Clark Founder, CEO, and Chairman Matt Clark President and COO Tom Sabol CFO Fritz Smith Chief Revenue Officer corcentric North Mountain Merger Corp. Chuck Bernicker CEO, President, and Director 3#5North Mountain overview Who we are and what we offer NMMC is an Ideal Partner for Corcentric NMMC Management Team Led Billtrust to Success CardConnect Stock Price Performance NMMC Management Team Led CardConnect to Success Proprietary sourcing channels and leading industry relationships with strategic corporates and financial sponsors Strong track record of identifying and sourcing transactions with proven playbook of value creation + Successful Billtrust de-SPAC Announced combination with Billtrust in October 2020 Pro forma enterprise value of $1.3B, equal to 10.5x 2021 multiple . 1-day post announcement price impact: 15.6% CCN outperforms the S&P 500 by +30% over 1 year First Data Corp. announces acquisition of CardConnect for $15.00 per share CardConnect MA 52.5% $132M equity capital raised Extensive public company experience at CardConnect and First Data in September 2020 via a listing on the Nasdaq Anchor investors and significant portion of committed capital from long-term investors Execution and structuring capability within the Financial Technology sector + 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 100%+ billtrustⓇ Net dollar retention 1,800+ Clients in the mid-market enterprise space across various industries $56B+ Total Payment Volume $1T+ Invoice dollars processed, reflecting large total addressable market CardConnect announces merger with FinTech Acquisition Corp CardConnect merger completed S&P 500 20.4% Mar 16 May 16 Aug 16 Nov 16 Jan 17 Apr 17 Jun 17 corcentric Source: Company filings and Factset. (1) Includes executed greenshoe on 7/01/2021 4#60 0 Doug Clark Founder, CEO, and Chairman O 9 0 0 10 Introduction to Corcentric#75LER! 1211 corcentric TM COVERLICH Our mission is to transform how businesses purchase, pay, and get paid#8Corcentric at a glance Platform Overview WHAT WE DO HOW WE DO IT Source-to-Pay (S2P) Order-to-Cash (O2C) Proprietary B2B Commerce Network Software Payments By the Numbers 2,500+ Customers and growing SCALE $100B+ Platform transaction volume $140B+ Estimated global B2B software & services revenue opportunity1 Advisory services $145M 2022E Payment, Software and Advisory revenue PERFORMANCE 32% 2022E Payment, Software and Advisory revenue growth 106% Dollar-based net retention² BUSINESS OUTCOMES DELIVERED + Enhance visibility + Enable growth + Optimize working capital Increase EBITDA Increase business agility Minimize risk 68% 2022E adj. gross margin from Payment, Software and Advisory PROFITABILITY $42M 2022E adj. EBITDA³ 47% - 2021 2023E adj. EBITDA CAGR³ corcentric Note: Adjusted gross profit / margin and adjusted EBITDA are non-GAAP metrics. Definitions and reconciliations are provided in the appendix (1) Derived by multiplying the number of large and mid-size enterprise companies per Dun & Bradstreet by average total revenues (excluding payments revenues) per customer; data as of 6/21/21 (2) As of December 31, 2021; (3) Excludes estimated public company costs of $4.8M and $7.8M for 2022E and 2023E, respectively 7#9Our experienced, founder-led management team Doug Clark Founder, CEO, and Chairman 25+ years cvent Ed Benack Chief Customer Officer Matt Clark President and COO 20+ years Buffi Gibbons Tom Sabol CFO TRANSACT Rimini Street® HYPERCOM Manish Jaiswal Chief Product Officer Chief HR Officer Microsoft MONSTER OEvidera PPD GUBC SAP corcentric Mark Joyce EVP and Chief Accounting Officer 15+ years Fritz Smith Chief Revenue Officer IHS Markit P2 Sunil Padiyar Chief Technology Officer Sophie Hubscher General Counsel & SVP ARIBA® CBRE | facilitysource* SALES LOGIX Altisource mongoDB 8#10B2B commerce still relies on highly-manual, legacy solutions Source-to-Pay Sourcing PO Creation Receipt of Goods s/e Invoice Acceptance ☑ Contract Purchase order Invoice Resend invoice (if error) Payment Disbursement Write/ Print check s Reconciliation Source-to-Pay Workflow corcentric ☑ Mail Check ୫ Order-to-Cash Sourcing PO Acceptance Shipment of Goods Invoice Disbursement Payment Acceptance Cash Application Order-to-Cash Workflow 6#11We are connecting buyers and suppliers with a B2B commerce network 88888 8888888 BUYERS Multi-modal Payments 02C Software Source-to-Pay Order-to-Cash 8888 SUPPLIERS S2P Software Multi-modal Payments 8 Connecting Source-to-Pay and Order-to-Cash creates a powerful flywheel effect corcentric Source: Management reporting 10#12We have been innovating in B2B commerce for over 25 years NORTH MOUNTAIN MERGER CORP. 2021 $ 000 1996 2008 2010 Early adopter of ACH+ payments and supply chain financing at scale Launched Corcentric 3-way matching for invoices corcentric Source One DETERMINE Vision, Insight. Control Procurement Services | www.SourceOneInc.com 2018 2019 Acquired and launched cloud-based Accounts Payable automation solution Boosted procurement and finance Advisory capabilities via SourceOne acquisition Optimized modular source-to-pay tools and expanded global footprint via Determine acquisition COR360 N Netsend 2019 ום Strengthened AR invoicing/document distribution capabilities and expanded global vendorin 2020 B BregalSagemount 2020 Strengthen AP Payments capabilities via Vendorin Signed merger agreement with NMMC and plan to list publically footprint via Netsend acquisition Raised first growth equity capital from acquisition Bregal Sagemount Corcentric is well-positioned to lead the next wave of innovation in B2B commerce 11#130 0 Matt Clark President and COO 0 O 0 G D O 9 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 (O2C) $120T+ B2B transaction volume globally1 Source: (1) Visa Investor Day Presentation (2020); available at https://s1.q4cdn.com/050606653/files/doc presentations/2020/02/Visa-Inc-2020-Investor-Day-Full-Presentation.pdf; (2) Derived by multiplying the revenue opportunity for a fully engaged customer and then subtracting 2021E revenue, whitespace includes payments revenue opportunity; reference slide 16 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 13#15Corcentric addresses the entire B2B value chain corcentric coupa >avidxchange Bill.com billtrust® Focus S2P (Procurement & AP) 02C (AR) S2P AP AP/AR O2C End market Enterprise / Mid-market Enterprise Mid-market SMBs Enterprise / Mid-market Customers 2,500+ 2,000+1 7,000+2 115,6003 1,800+4 Integrated payments Core competency Early days Transaction volume opportunity $120T+ volume5 $13T volume $25T volume7 $9T volume $120T volume5 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/Visa-Inc-2020-Investor-Day-Full-Presentation.pdf; (6) Coupa S-1, 4/03/2017; (7) Avidxchange S-1, 9/17/2021; (8) Bill.com S-1, 12/12/2019 14#16Corcentric's value proposition Corcentric's end-to-end software & payment solutions automate B2B processes and... 8888 8888888 1 Sourcing 2 PO Creation 5 Receipt of Goods 7 Invoice Acceptance 8 Payment Disbursement BUYERS 11 Reconciliation 1 Sourcing 3 PO Acceptance 4 Shipment of Goods 6 Invoice Disbursement 9 Payment Acceptance 10 Cash Application 88 8888 SUPPLIERS ...deliver a compelling value proposition to its customers 1 Generates high 2 Drives operational improvement 3 Optimizes working capital and cash flow customer ROI corcentric Source: Management reporting 15#17Unparalleled monetization across the B2B value chain Corcentric leverages a combination of software, payments and advisory services... ADVISORY SOFTWARE PAYMENTS S2P S2P S2P S2P 02C S2P/O2C 02C 02C 02C Sourcing eSourcing / Contracting Procurement AP Automation Invoicing/ e-Billing Payment Solutions Supply Chain Financing Collections / Credit Mgmt Cash Application Illustrative economics: Advisory Services ~$100,000/year + SaaS Subscription Source to Pay + SaaS Subscription Order to Cash + ~$150,000/year ~$100,000/year 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 corcentric Source: Management reporting 16#18Source-to-Pay solutions Supplier Management Contract Lifecycle Management Procurement Software Payments Sourcing Analytics services Source-to-Pay Solutions Advisory Invoice Management Financial Management corcentric Analytics Uncover insights that drive smarter spend decisions MIN Sourcing Improve supplier selection and drive savings Supplier Management Build stronger supplier relationships and manage risk Contract Lifecycle Management Automate the entirety of a contract lifecycle Payments + Financing 週 Procurement Control spend and improve compliance Invoice Management Automate invoice processing Financial Management Improve spend management and reporting 4 Payments + Financing Automate multimodal payment disbursement 17#19Order-to-Cash solutions Invoicing Dispute Management + eBillling Collections Management Cash Application Software Advisory Credit Management Payments services Order-to-Cash Solutions Credit Management Assess and issue lines of credit Invoicing + eBilling Automate invoice creation and distribution Dispute Management Dispute, resolve, and mitigate issues Collections Management Employ best- practice collection processes Analytics Supply Chain Financing Managed AR Services Cash Application Streamline payment collection and reconciliation Supply Chain Financing Set flexible payment terms Managed AR Services Fully outsource AR management Analytics Uncover actionable insights on O2C and payments corcentric 18#20Corcentric simplifies Order-to-Cash SUPPLIERS Single, consolidated payment corcentric accenture genpact accenture wipro Deloitte Capgemini Cognizant billtrust® NETSUITE Bill.com kyriba wipro Connectivity genpact highradius Bill.com nvoicepay Invoicing eBilling + Capgemini❤ Cognizant Deloitte. Dispute Management Management Collections kyriba highradius Connectivity Cash Application PR PrimeRevenue taulia Software O billtrust BlueVine NETSUITE Bank of America. Payments Advisory services Supply Chain Finance previse Trading on ORBIAN better terms DEMICA UNLOCK POTENTIAL ManagedAR Services Cognizant JPMorgan Chase WELLS FARGO CLEARBANC Credit Management Capgemini Citibank Invoice Delivery + Management BUYERS -H- ORDER-TO-CASH SOLUTIONS Multimodal Payments Payments Analytics IBM Microsoft +ableau OFTWARE SISENSE accenture genpact DOMO Deloitte. Customer Support wipro 19#21Corcentric removes process and system integration friction Order-to-Cash customer corcentric coupa SAP SAP Ariba A LAWSON™ MatrixCare TMW. A TRIMBLE COMPANY ◆NNATRACK BUSINESS SOFTWARE SOLUTIONS Macola Software™ An ECi Software Solutions 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 infor Coda Financials basware YARDI fiserv. TMW A TRIMBLE COMPANY Microsoft Dynamics NAV ORACLE® N NETSUITE salesforce EchoSign. Aaptean Ross Enterprise SERENIC SOFTWARE sage Deltek. IBM AS/400 TRINIUM Technologies WISETECH GLOBAL GROUP VIEWPOINT® A TRIMBLE COMPANY corcentric 20 20#22A superior Order-to-Cash solution FUNDAMENTAL CHALLENGES WITH EXISTING SOLUTIONS $ Cash flow uncertainty Antiquated billing Long DSO's Poor customer onboarding / service M High dispute frequency Lack of spend visibility corcentric $ 迎 !!! | ° CORCENTRIC'S O2C SOLUTION BENEFITS Cash flow certainty Bad debt elimination Enhanced customer satisfaction Unlocked resources through automation Streamlined cash application Immediate revenue growth 21 21#23Proprietary B2B commerce network of buyers and suppliers Multi-modal Payments $100B+ Platform transaction volume 02C Software бос 38888 8888888 Source-to-Pay 450K+ BUYERS 眾 S2P Software Order-to-Cash 8888 1.4M+ Multi-modal Payments 8 SUPPLIERS Connecting Source-to-Pay and Order-to-Cash creates a powerful flywheel effect corcentric Source: Management reporting 22 22#24Built on an integrated, modern technology stack KEY DIFFERENTIATORS TECHNOLOGY SOLUTIONS Source-to-Pay (S2P) Proprietary B2B commerce network Order-to-Cash (O2C) TECHNOLOGY ARCHITECTURE Cloud native Multi-tenant Single code base PERCONA redis elasticsearch mongoDB. php graylog python TM docker HTML ESS JS Linux 53 5 node MySQL amazon webservices Sc ZABBIX ORACLE Microsoft Dynamics Integration Partners ERPS N NETSUITE SAP ท numeno OPÉRATEUR DE CONFIANCE QAD LAWSON™ sage *coupa salesforce 3rd Party networks READSOFT BEROE ecovadis SAP Ariba TRADESHIFT® dun&bradstreet Ability to serve as a single pane of glass over multiple ERP solutions Network of networks created via integrations with suppliers and buyers corcentric + 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 23#25Blue chip customer base and significant embedded whitespace opportunity Top 100 Customers by End Market KEY STATS Finance 3% Food/Beverage 5% Transportation 6% Distribution 6% corcentric Other 17% Healthcare 14% Manufacturing 34% Consumer/Retail 15% 2,500+ total customers 106% Dollar-based net retention¹ $100B+ Platform transaction volume $2B+ Total whitespace² Source: (1) As of December 31, 2021; (2) Calculated by multiplying 2,500 customers by the revenue opportunity for a fully engaged customer and then subtracting 2021E revenue, whitespace includes payments revenue opportunity 24 24#26Transforming S2P for a Fortune 500 global chemical and ingredients distributor CHALLENGES SOLUTION IMPACT (SINCE MARCH 2020) Large tail spend + Limited visibility into supplier contracts and end user compliance Lean sourcing and procurement team + Decentralized procurement activities + Limited subject matter expertise Customer Spend analysis and procurement / AP workflows corcentric Automatically distributed POs and matched all incoming invoices $6.5M realized savings 50+ workflows and processes impacted $300M in spend reviewed and addressed 4x ROI 138 North American production sites serviced Global Deployment plans are underway corcentric Supplier 25 25#27Unlocking value for one of the largest tire and rubber companies... CHALLENGES SOLUTION + Enrollment delays + Slow response times O2C Customer Improvement and management of billing, credit and AR services >10% + Poor customer experience Sales increase + Decrease in sales corcentric corcentric IMPACT (SINCE AUGUST 2018) Analyzed supplier data and assessed credit risk Working Capital enhanced materially Supplier Visibility into consumer spend and behavior increased DSO Decreased significantly Customer Customer Complaints Engagement reduced substantially improved considerably 26 26#28...a success story on multiple levels NETWORK EFFECT LAND AND EXPAND WIN-WIN-WIN Multiple levers driving increased value Converted GPO supplier to O2C customer + Speed to revenue and ability to quickly integrate Seamless top customer transition 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 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 corcentric 27 27#29Deploying our full suite of services for Daimler CHALLENGES SOLUTION Refining billing and support services across Daimler's vast dealer network Enabling e-invoicing Finding the right partner to manage billing and collections DAIMLER Enhanced invoice capabilities and support services corcentric 59% IMPACT (SINCE FEBRUARY 2012) DSO reduction 17.6k unique connections between dealer and buyer ERP & POS systems 86% decrease in disputes Validating supplier data for payments Invoice processing substantially increased Double-digit growth in revenues realized Customer acquisition and retention improved significantly Supplier corcentric 80 28#30Multiple vectors driving growth and upside Massive Cross-Sell Opportunity Payments Monetization $2B+ Whitespace opportunity 3% Of existing transaction volume monetized Win New Customers International Expansion Strategic M&A New Products & Innovation 87 R&D team members 3 15 Sales efficiency¹ 12 Countries served today Acquisitions in last 3 years 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 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 Virtual card Enhanced ACH Aggregate purchasing Supply chain financing Merchant acquiring Enhanced ACH 30 30#320 Fritz Smith Chief Revenue Officer 0 0 0 0 G D O 9 Go-to-market strategy#33Go-to-market strategy DIRECT SALES Make the sale Drive retention / renewals මල Sell Support 88 CUSTOMER Deliver Delight Implement the solution INDIRECT SALES REFERRALS + PARTNERS + RESELL $ Foster customer satisfaction Payment partners Integration partners Technology partners + Platform-based sales + Teams organized by vertical and customer size + Strong network effect sales model Payments as a core competency enables cross-sell and upsell into O2C and S2P solutions + Point solution + Broader customer reach + Cost effective customer acquisition strategy + Higher margin corcentric Note: Bookings data based on 2021 32 32#34Strategic alignment around go-to-market complementing sales plays Territory Solution C Message Jo III 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 corcentric 33 33#35CFOs face unique challenges $ 0000 Poor Cash Flow Management Inefficient Legacy Systems & Processes Proliferation of Point Solutions Complex Integration Requirements High Costs Complexities in B2B commerce, including opaqueness in each step along the value chain, results in companies mismanaging cash flow 40%+¹ of B2B transaction volume is still processed through paper checks, which is manual, expensive, and prone to error Proliferation of point solutions result in the need to purchase many systems and solutions that come with high costs and poor integration Hundreds of available accounting and reporting systems pose business and integration challenges Traditional B2B commerce represent a staggering proportion of expenses that directly eat into company bottom lines corcentric (1) PMNTS.com “Deep Dive: Why Paper Checks Still Factor Into B2B Firms' Payment Optimization Plans” (2021) 34 =4#36Corcentric's unique all-in-one solution Source-to-pay Platform Settle Source Managed accounts payable DPO Extension MIN OTO Trade Finance Analytics Sourcing Supplier Management Contract Lifecycle Management 斷 Procurement Invoice Management Financial Management Payments + Financing corcentric Payments L Order-to-cash Managed accounts receivable DSO Reduction Managed Service Credit Management Invoicing + Billing Dispute Management Collections Management Purchase | Pay | Get Paid Cash Application Receivables Finance Managed AR Services Analytics 35 35#37Office of the CFO: Go-to-Market corcentric Cost Control & Efficiency Funding for Growth Capital Management Growth Risk то Taxation & Regulatory Governance & Compliance Financial Reporting & Accounting 56 36#380 Tom Sabol Chief Financial Officer 0 0 0 0 G D O 9 Financial overview#39Financial highlights Significant scale Rapid growth High retention High gross margins $ $145M 2022E Payment, Software and Advisory revenue $ 32% 기 106% 2022E Payment, Software and Advisory revenue growth1 Dollar-based net retention² corcentric Attractive profitability 68% 2022E adj. gross margin from Payment, Software and Advisory 44% 2022E adj. EBITDA YoY growth³ Note: Adjusted gross profit / margin and adjusted EBITDA are non-GAAP metrics. Definitions and reconciliations are provided in the appendix (1) Compared to 2021 payment, software and advisory revenue of $110M; (2) As of December 31, 2021; (3) Excludes estimated public company costs of ~$4.8M 38 88#40Our revenue model (excluding equipment sales) $ O </> 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 56% 2021 revenue SOFTWARE + Tiered subscription pricing. + Contracted recurring revenue Evergreen contracts 30% 2021 revenue ADVISORY SERVICES + Fees from implementations and consulting services + Generally charged on per project or hourly rate 14% 2021 revenue Note: The remainder of our revenues are generated through equipment sales corcentric 39 39#41Strong underlying operating metrics driving top line growth Total monetized transaction volume ($M) Dollar-based net revenue retention 2,756 108% 106% 101% 2,021 1,902 2019 2020 2021 2019 2020 2021 corcentric Note: 2019 dollar-based net revenue retention analysis includes only revenues from Cor360 and CorConnect; Definitions for Total monetized transaction volume and Dollar-based net revenue are provided in the appendix 40#42Compelling financial profile GAAP Revenue ($M) $175 Adjusted gross profit ($M) Adjusted EBITDA ($M) $154 7% $145 73 44 $79 42 8% $71 4 $110 $70 $103 $101 3 2 15 10% 30 21 33 22 31 68 80 $32 $27 $29 74 67 62 51 50 2019 2019 2020 2021 2019 2020 2021 Payment Software Advisory Equipment Sales Adj. Payment, Software and Advisory Margins 67% 67% 68% Adj. Equipment Sales Margins 7% 3% 10% corcentric™ Note: Adjusted gross profit/margin and adjusted EBITDA are non-GAAP metrics. Definitions and reconciliations are provided in the appendix 2020 Substantial investments in organic and inorganic opportunities to capture the significant market opportunity 2021 41#43Financial projections Payment, Software and Advisory revenue ($M)1 30% CAGR $186 $110 $145 2021 2022E 2023E Adjusted gross profit ($M) Adjusted EBITDA ($M)² CAGR 33% $103 $139 4 5 $79 98 98 74 CAGR 47% $42 135 $29 $63 2021 2022E 2023E 2021 2022E 2023E Adj. Payment, Software & 68% 68% 72% Advisory Margins Adj. Equipment Sales Margins 10% corcentric Note: Adjusted gross profit/margin and adjusted EBITDA are non-GAAP metrics. Definitions and reconciliations are provided in the appendix (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 44#44Business mix evolution (excluding equipment sales) Software and payments revenues are recurring or re-occuring in nature Payment, Software and Advisory revenue 2021 Payment, Software and Advisory revenue 2023E 14% 13% 23% 86% 87% 30% 56% 64% ■ Payments corcentric -- Software ■Advisory services Recurring or re-occuring revenue Source: Management reporting Note: The remainder of our revenues are generated through equipment sales ■ Payments ■Software Advisory services Recurring or re-occuring revenue 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#460 0 Doug Clark Founder, CEO, and Chairman O 9 0 0 10 Conclusion#47Corcentric key highlights corcentric ③Large TAM with strong tailwinds in B2B commerce $ 000 Unmatched combination of cloud-based software, payments and advisory services Comprehensive, end-to-end suite of source-to-pay and order- to-cash solutions Proprietary B2B commerce network of buyers and suppliers Enterprise and mid-market customer base across diversified industry verticals Multiple vectors driving growth and upside Unique combination of strong revenue growth and profitability corcentric 46#48Thank you corcentric NORTH MOUNTAIN MERGER CORP.#49DIY AV 2 9 9 Transaction highlights#50Transaction summary Pro forma capitalization (at $10.00 per share)4 Transaction highlights Pro forma enterprise value of $1.229B ■ 2023E adj. revenue multiple of 6.5x Corcentric shareholders to receive $1,013M $893M in rollover equity and $120M in secondary proceeds $50M PIPE investment into Corcentric in connection with the merger + Corcentric to receive $27M in primary proceeds to fund growth¹ + North Mountain Merger Corp. to receive 1 of 7 board seats ($M) Implied Pro Forma Equity Value4 Pro Forma Debt5 Pro Forma Cash5 Pro Forma Enterprise Value Sources ($M) Corcentric Rollover Equity NMMC Cash in Trust¹ PIPE Proceeds Total Sources Uses ($M) Corcentric Rollover Equity Secondary Proceeds Cash to Balance Sheet2 Estimated Transaction Expenses³ Total Uses corcentric $893 $132 $50 $1,075 $893 $120 $27 $35 $1,075 Pro forma ownership at closing6 12.0% NMMC Public Shareholders 81.1% Existing Corcentric Shareholders 4.5% PIPE Investors $1,101 $140 $12 $1,229 2.4% NMMC Founder Shares Note: Transaction assumes a $50M PIPE at $10.00, no redemptions by NMMC public shareholders, $27M cash to the balance sheet, and $120M cash to existing Corcentric shareholders; Corcentric has a unilateral $150M minimum cash condition, net of SPAC acquirer fees. The minimum cash condition may be reduced to $125M net of SPAC acquirer fees with the consent of Corcentric; Figures may not sum due to rounding; (1) Assumes no redemptions by NMMC public shareholders; (2) $12M of cash dedicated to the balance sheet with residual being using to pay down debt; (3) Illustrative transaction fees and expenses for both SPAC and target; (4) Includes 89.3M Corcentric shares, 13.2M NMMC common shares, 5.0M PIPE shares, and 2.6M NMMC sponsor shares (excludes 2.1M NMMC sponsor shares subject to price vesting conditions); Excludes tranches subject to time triggers and early price releases (5) Pro-forma capitalization as of 12/31/21; (6) Assumes $10.00 per share; Excludes the dilutive impact of NMMC public warrants, Corcentric earnout, founder share earnout, and the new, to-be-established equity incentive plan; 4.7M SPAC sponsor shares are issued and outstanding immediately post Closing, including exchanged warrant shares; Excludes 2.1M founder shares subject to earnout, vesting ratably at $12.50 per share and $15.00 per share; Excludes tranches subject to time triggers and early price releases 49#51Peer select operating metrics Software and FinTech corcentric Bill.com *coupa billtrust® >avidxchange™ Median² Avalara ✓ BLACKLINE DocuSign Paymentus flywire 50% CY21E-CY23E Adj. revenue CAGR 28% 19% 25% 20% 22% 82% 68% 70% 73% 73% 62% CY22E Adj. gross margin 28% CY22E Adj. EBITDA margin 6% 6% (6%) (9%) (14%) (1) Represents Payment, Software, and Advisory revenue + gross profit on equipment sales (2) Paymentus is based off net revenue corcentric Source: Company materials; FactSet as of 4/04/2022 50 50#52Peer select trading metrics corcentric FV/CY23E Adj. revenue 6.5x Bill.com coupa billtrust® > avidxchange™ Software and FinTech Median² Avalara ✓ BLACKLINE DocuSign 28.4x 10.1x 5.2x 3.9x Paymentus flywire 8.1x 0.8x FV / CY23E Adj. revenue 0.5x 0.4x / CY23E adj. revenue growth 0.2x 0.2x 0.2x FV/CY23E Adj. gross profit 8.8x FV / CY23E Adj. gross profit / CY23E revenue growth 34.9x 14.0x 12.2x 7.1x 5.9x 1.0x 0.7x 0.5x 0.3x 0.3x 0.3x CY23E Adj. revenue growth 28% corcentric Source: Company materials; FactSet as of 4/04/2022 34% 20% 22% 20% 21% (1) Represents Payment, Software, and Advisory revenue + gross profit from equipment sales (2) Paymentus is based off net revenue 555 51#53Appendix#54Corcentric financial summary ($M) Payment Revenue % growth Software Revenue % growth Advisory Revenue % growth Year ended December 31, 2019 2020 2021 2022E 2023E $51 $50 $62 $85 $118 14% (3%) 25% 37% 39% $22 $31 $33 $36 $43 129% 42% 6% 11% 19% $30 $21 $15 $23 $25 19% (30%) (27%) 53% 7% Total Payment, Software, and Advisory Revenue $103 $101 $110 $145 $186 % growth (2%) 8% 32% 29% Equipment Sales Revenue $42 $73 $44 % growth 76% (40%) Total Revenue $145 $175 $154 % growth 21% (12%) Adjusted Gross profit from Payment, Software, and Advisory Revenue $68 $67 $74 $98 $135 % margin 67% 67% 68% 68% 72% Adjusted Gross profit from Equipment Sales $3 $2 $4 $5 $4 % margin 7% 3% 10% Total Adjusted Gross profit % margin Adj. EBITDA¹ % growth $71 $70 $79 $103 $139 49% 40% 51% $32 $27 $29 $42 $63 (16%) 7% 45% 50% CapEx % Total Revenue 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 $11 $14 $17 $24 $19 8% 8% 11% 53 53#55Revenue & Gross profit reconciliation Payment, Software and Advisory Equipment Sales Total Year ended December 31, ($M) Revenues 2019A 2020A 2021A Year ended December 31, Year ended December 31, 2019A 2020A 2021A 2019A 2020A 2021A $103 $101 $110 $42 $73 $44 $145 $175 $154 Direct cost of equipment sales. (35) (34) (36) (39) (71) (40) (73) (105) (75) Depreciation and amortization allocated to costs of (12) (14) (19) (12) (14) (19) revenue Gross profit $56 $53 $55 $3 $2 $4 $59 $55 $60 Depreciation and amortization 12 14 19 12 14 19 Stock-based compensation expense included in cost of revenues 0 0 0 0 0 0 Adjusted Gross Profit (Non-GAAP) $68 $67 $74 $3 $2 $4 $71 $70 $79 Gross margin Adjusted gross margin (Non-GAAP) corcentric Source: Company materials 55% 52% 50% 7% 3% 10% 41% 32% 39% 67% 67% 68% 7% 3% 10% 49% 40% 51% Note: Adjusted gross profit / margin are non-GAAP financial measures; Zero values represent numbers less than $500,000 54#56EBITDA reconciliation ($M) Net (loss) income Adjustments: Interest expense, net Provision (benefit) for income taxes Depreciation and amortization Earnings Before Interest Taxes Depreciation and Amortization Adjustments: Stock-based compensation expense Foreign currency (gain) loss. Equity in (income) loss of affiliate Change in Contingent Consideration Acquisition costs Acquisition Accounting Adjustments Restructuring and strategic project expenses Adjusted EBITDA (Non-GAAP) corcentric Source: Company materials Note: Adj. revenue, Adj. Gross profit and Adj. EBITDA are non-GAAP financial measures; Zero values represent numbers less than $500,000 Year ended December 31, 2019 2020 2021 ($4) $3 ($33) 9 7 9 (1) (5) 1 17 19 24 $21 $23 $2 1 2 24 (0) 0 (0) 0 (0) (0) 2 0 0 3 1 0 5 (1) 0 1 3 $32 $27 $29 55 55#57Condensed income statement ($M) Revenue: Payment, Software and Advisory revenue Equipment sales Total revenues Year ended December 31, 2019 2020 2021 $103 $101 $110 42 73 $145 $175 44 $154 Direct costs of revenues (excluding depreciation and amortization shown separately below): Direct costs of Payment, Software and Advisory revenue $35 $34 $36 39 71 $73 $105 40 $75 Direct costs of equipment sales Total direct costs of revenue Operating expenses: Research and development Sales and marketing General and administrative Depreciation and amortization Change in fair value of contingent consideration Total operating expenses Operating (loss) income Net income: Interest expense Interest income Foreign exchange gain (loss) Loss before income taxes and equity in income (loss) of affiliate (Provision) benefit for income taxes Equity in income (loss) of affiliate Net (loss) income corcentric Source: Company materials Note: Adj. revenue, Adj. Gross profit and Adj. EBITDA are non-GAAP financial measures; Zero values represent numbers less than $500,000 $2 $2 $3 29 27 27 18 18 47 17 19 24 2 $67 $65 $101 $4 $4 ($22) ($9) ($7) ($9) 0 0 0 0 (0) 0 (5) (2) (31) 1 (0) ($4) 503 (1) 0 $3 ($33) 56#58Condensed balance sheet As of December 31, ($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 2019 As of December 31, 2020 As of December 31, 2021 $12 $11 $10 196 196 239 10 10 11 14 20 18 18 22 26 47 115 114 Other intangible assets, net 34 49 37 Other assets 6 5 13 Total assets Current portion of long-term debt, net $338 $427 $469 Liabilities, mezzanine equity and stockholders' equity (deficit) $0 $1 $1 Accounts payable Rebates payable 117 136 153 9 7 7 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) 36 22 27 118 134 165 0 2 4 1 1 $285 $301 $355 $88 $110 8 5 5 $45 $33 ($1) $338 $427 $469 corcentric Source: Company materials Note: Adj. revenue, Adj. Gross profit and Adj. EBITDA are non-GAAP financial measures; Zero values represent numbers less than $500,000 57 40#59Condensed statement of cash flows ($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 Year ended December 31, 2019 2020 2021 ($4) $3 ($33) $17 $19 $24 Stock-based compensation Accounts receivable and other receivables Accounts payable Accrued expenses and other current liabilities 1 2 24 (5) (0) (46) 9 18 17 18 (17) 3 Other 1 Net cash (used in) provided by operating activities Cash flows from investing activities: Purchases of property and equipment (including software development) Proceeds from the sale of property and equipment Payments for acquisition (net of cash acquired) Net cash used in investing activities Cash flows from financing activities: Proceeds from line of credit Repayments on line of credit Proceeds from term loan Repayment of term loan Other 2 Net cash provided by financing activities Net (decrease) increase in cash and cash equivalents (4) (5) 1 $32 $19 ($10) ($11) ($14) ($17) 0 0 1 (52) (79) ($63) ($93) ($16) $2,017 $1,984 $2,233 (1,979) (1,996) (2,202) 20 (1) (1) (1) (4) $34 $73 $26 $2 ($1) ($1) corcentric Note: Adj. revenue, Adj. Gross profit and Adj. EBITDA are non-GAAP financial measures; Zero values represent numbers less than $500,000 (1) Includes: gain on sale of assets, bad debt expense, deferred income tax expense, amort. of debt issuance costs, change in fair value of contingent consideration, payment of contingent consideration on acquisitions, equity in loss (income) of affiliate, changes in operating assets and other liabilities, other assets & liabilities (2) Includes: debt issuance costs, preferred stock issuance costs, proceeds from issuance of preferred stock, repurchases of common stock, proceeds from issuance of common stock, payment of contingent liabilities, payment of offering costs 58 59#60Glossary Term Accounts payable (AP) Accounts receivable (AR) Enhanced ACH Merchant acquiring Order-to-cash (O2C) Procurement Source-to-pay (S2P) Virtual card 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 corcentric 59 59#61Glossary - KPI / Financial Term Adjusted EBITDA Adjusted gross profit Adjusted gross profit margin Dollar-based net retention Monetized Transaction volume (MTV) Total whitespace Transaction volume Definition Adjusted EBITDA is defined as net profit/(loss) plus depreciation and amortization expenses, income tax expense/(benefit), other expense/(income), stock-based compensation expense, severance costs and acquisition and integration costs and other one time costs Adjusted gross profit is defined as total revenues less total direct costs of revenue, excluding depreciation and amortization, plus stock-based compensation expense included in total direct costs of revenue Adjusted gross profit margin is defined as adjusted gross profit divided by revenue Dollar-based net retention expresses the retained revenue from current customers as a percentage of revenue from the prior year after accounting for upsell, downsell, and churn The dollar value of customer payment transactions that we process through our payment network and is a key driver of our payments revenue Total whitespace is calculated by multiplying 2,500 customers by the revenue opportunity for a fully engaged customer and then subtracting 2021E revenue; whitespace includes payments revenue opportunity Transaction volume refers to the total value of transactions processed during a specified period corcentric 60 60#62Risk factors These Risk Factors are being provided to certain sophisticated institutional investors for potential investment in North Mountain Merger Corp. ("NMMC") in connection with its proposed business combination with Corcentric, Inc. ("Corcentric", "we", "us" or "our") (the "Business Combination") and pursuant to which the combined company of Corcentric and NMMC will become a publicly traded operating company ("Combined Company" means Corcentric immediately after the Business Combination). Investing in the securities of NMMC (the "Securities”) to be issued in connection with the Business Combination involves a high degree of risk. Investors should carefully consider the risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. If Corcentric cannot address any of the following risks and uncertainties effectively, or any other risks and difficulties that may arise in the future, Corcentric's business, financial condition or results of operations could be materially and adversely affected. The risks described below are not the only ones Corcentric faces. Additional risks that Corcentric currently does not know about or that Corcentric currently believes to be immaterial may also impair its business, financial condition or results of operations. You should review the Investor Presentation and perform your own due diligence, prior to making an investment in NMMC. Risks Related to Corcentric's Business and Industry: + Corcentric may not sustain its current rate of growth in the future. Corcentric earns a substantial portion of its revenue from payment transactions and Corcentric's growth is dependent upon the continued acceptance, security and adoption of its payment solutions. Because Corcentric recognizes subscription revenues over the term of the contract, fluctuations in new sales and customer cancellations may not be immediately reflected in Corcentric's operating results and may be difficult to discern. Corcentric's business depends substantially on its customers renewing their contracts and subscriptions and purchasing additional subscriptions from Corcentric. Corcentric's business could be adversely affected if its customers are not satisfied with the services provided by Corcentric and do not renew their contracts or subscriptions. + A limited number of customer relationships are responsible for a significant portion of Corcentric's revenue and cash flow. In addition, Corcentric is subject to credit risk resulting from its managed accounts receivable solutions. A decrease in sales to these customers or a change in these customers' financial condition could materially harm Corcentric's business and operating results. If Corcentric fails to adapt and respond effectively to rapidly changing technology, evolving industry standards, changing regulations and payment methods, demand for product enhancements, new product features, and changing business needs, requirements or preferences, its products may become less competitive. The markets in which Corcentric participates are competitive, and if Corcentric does not compete effectively, its operating results could be harmed. Corcentric may require additional capital to support the growth of its business, and this capital might not be available on acceptable terms, if at all. + Corcentric's business depends, in part, on Corcentric's relationships with third parties, including partnerships with financial institutions, third party service providers, processing providers and other financial services f any of Corcentric's agreements with such financial institutions, third party service providers, processing providers, or financial services providers are terminated, Corcentric could experience service interruptions. The 2022 Russian invasion of Ukraine has affected and may continue to affect Corcentric's business operations. Acquisitions, strategic investments, partnerships, collaborations or alliances could be difficult to identify and integrate, divert the attention of management, disrupt Corcentric's business, dilute New Corcentric stockholder value, and adversely affect Corcentric's operating results and financial condition. corcentric 61#63Risk 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 62 62#64Risk factors (cont'd) Risks Related to Regulation: Corcentric relies on various exemptions from licensing, and regulators may find that it has violated applicable laws or regulations. The regulatory environment Corcentric operates in is subject to constant change, and new regulations could make aspects of its business as currently conducted no longer possible. Risks Related to North Mountain and the Business Combination: There can be no assurance that New Corcentric Common Stock will be approved for listing on Nasdaq or that New Corcentric will be able to comply with the continued listing standards of Nasdaq. + If the Business Combination's benefits do not meet the expectations of investors or securities analysts, the market price of North Mountain's securities or, following the Closing, New Corcentric's securities, may decline. A market for our securities may not continue, which would adversely affect the liquidity and price of our securities. Following the consummation of the Business Combination, New Corcentric will incur significant increased expenses and administrative burdens as a public company, which could have an adverse effect on its business, financial condition and results of operations. The North Mountain Board did not obtain a fairness opinion in determining whether or not to proceed with the Business Combination and, as a result, the terms may not be fair from a financial point of view to the Public Stockholders. North Mountain's Sponsor, officers and directors have potential conflicts of interest in recommending that stockholders vote in favor of approval of the Business Combination Proposal and approval of the other proposals described in this proxy statement/prospectus. corcentric 63 63