Appreciate SPAC Presentation Deck

FINANCIAL OVERVIEW Attractive Unit Economics Support Investing in Growth $608 Customer Acquisition Cost (CAC) 13.6x(¹) $8,246 Lifetime Value (LTV) 40 Months Average Retail Customer Life 65% Front-Loaded Revenue Typically Realized in First 3 Months (2) (1) Based on fiscal year 2021 for retail property management customers. LTV based on 2021A gross margin of $8,246 per customer, assuming average fees, property value and customer life, and one Marketplace transaction during tenure of property; CAC based on 2021A average cost to acquire customers of $608 per customer (2) For 2022E period 4 ww Appreciate ~1/3 of 2023 New Properties from Cross-Selling with no additional marketing Private & Confidential 34

View entire presentation