GROWTH STRATEGY

APPENDIX Summary P&L $ in 000s Revenue Marketplace Retail Institutional Total Marketplace Management Appreciate 2020A 2021A 2022E 2023E $2,133 $3,438 $6,292 $23,721 898 2,700 12,719 31,896 $3,031 $6,138 $19,010 $55,618 Franchise Total Management Total Revenue Gross Profit & EBITDA Marketplace GP % Management GP % Total Gross Profit GP% Operating Expenses % of Revenue EBITDA (1) Management Fee Revenue - Retail 8,661 7,426 6,613 11,313 Placement Revenue Retail 5,573 5,017 7,757 21,506 Other Revenue - Retail 3,960 3,702 3,892 8,471 Retail $18,193 $16,145 $18,262 $41,289 Management Fee Revenue - Institutional $2,569 $2,224 $2,644 $5,965 Placement Revenue - Institutional $1,653 $1,296 $2,848 $5,003 Other Revenue - Institutional $1,175 $793 $1,125 $3,703 Institutional $5,396 $4,313 $6,617 $14,672 $1,668 $1,514 $1,412 $1,513 $25,258 $21,973 $26,292 $57,473 $28,289 $28,111 $45,302 $113,091 $1,519 $3,197 $13,037 $36,465 50.1% 52.1% 68.6% 65.6% $12,567 $9,839 $11,044 $27,672 49.8% 44.8% 42.0% 48.1% $14,086 $13,035 $24,081 $64,137 49.8% 46.4% 53.2% 56.7% 13,159 12,836 19,861 41,509 46.5% 45.7% 43.8% 36.7% $927 $199 $4,220 $22,627 EBITDA % 3.3% 0.7% 9.3% 20.0% Note: See slide 43: Financial Model Assumptions (1) 2020A and 2021A represent Adjusted EBITDA figures; see slide 46: EBITDA Reconciliation 44

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