S2P Case Study

EBITDA reconciliation ($M) 2019A 2020A Adjusted EBITDA $32 $27 Depreciation and amortization (17) (19) Change in fair value of contingent consideration (2) Net interest expense (9) (7) FX gain/loss 0 (0) Income tax benefit 1 5 Equity in loss (income) of affiliate (0) Acquisition related costs¹ Stock compensation 031 0 Acquisition related accounting adjustments² Restructuring and other expenses³ GAAP net income (loss) from continuing operations (3) (1) (2) (5) 1 (0) (2) ($4) $3 (1) corcentric Note: Figures may not sum due to rounding. (1) Represents legal, accounting and other professional fees incurred in connection with acquisitions; (2) Represents purchase accounting adjustments and 40 benefits related to a reduction in contingent liabilities in connection with acquisitions; (3) Represents costs associated with special projects, including legal reorganization and brand consolidation, as well as one off charges associated with severance and employer taxes due upon the exercise of stock options

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