Financial Review Franchise Group Inc.

Capitalization ($ in millions) 28-Dec-19 26-Dec-20 27-Mar-21 Cash $ 39.6 $ 151.5 $ 164.9 Debt $ 463.6 $ 574.0 $ 1,073.1 Net Debt $ 424.0 $ 422.5 $ 908.3 Preferred Stock $ $ 31.3 $ 105.7 Common Stock (1) $ 440.4 $ 1,148.1 $ 1,373.4 Enterprise Value $ 864.4 S 1,601.9 $ 2,387.4 FRANCHISE GROUP INC. Notes: (1) Reflects market capitalization on balance sheet date (2) Proforma for expected sale of Liberty Tax and the expected repayment of $182 million of debt upon closing 20 20

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