Syniverse SPAC Presentation Deck

Why We Are Excited to Invest in Syniverse Unique Business Compelling Valuation Premier Sponsorship ✓ Trusted Neutral Intermediary: Occupies a crucial place in the global mobile ecosystem with multiple paths to monetize its position ✓ Powerful Long-term Tailwinds: Positioned to benefit from growth in next-generation mobile technologies including 5G, private networks, loT and blockchain ✓ Favorable Mix: Serves both enterprises and carriers; higher-growth Enterprise expected to represent the majority of revenues by 2024 ✓ Attractively Priced: 12.1x 2022E Adjusted EBITDA, a meaningful discount to companies that share similar attributes, with room for significant upside ✓ Optimized Capital Structure: Transaction expected to substantially de-lever the business to ~3.7x net leverage, allowing resources to be further invested in key strategic and growth initiatives ✓ Financial Profile: Rare combination of growth, profitability, and cash flow ✓ The Carlyle Group: Will remain a shareholder of Syniverse and is not selling as part of the transaction ✓ Twilio: Clear strategic benefits from business partnership and up to $750M investment Brigade Capital Management: A long-time lender to Syniverse. Brigade and its affiliates, together with the SPAC sponsor, have committed $165M in the proposed PIPE 6

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