Cannae SPAC Presentation Deck slide image

Cannae SPAC Presentation Deck

dun & bradstreet On 6/28/21 Cannae sold 8.5M DNB shares at $21.88 for gross proceeds of $186M-a 2.8x return on investment Company Overview Dun & Bradstreet is a leading provider of commercial data, analytics and insight on businesses worldwide D&B operates through two customer solution sets: Risk Management Solutions, which provides solutions that help customers mitigate credit, operational, and regulatory risks ● - ● Sales & Marketing Solutions, which help clients increase revenue from new and existing customers by identifying target customers, updating data on current and potential customers, and allocating advertising budgets to reach target audiences Global commercial database contains over 300 million business records DNB investment returns to date Cost of Invested Capital (2) -$659.7M Current Gross FMV of Investment ~$1.27B $9.69 (2) $7.81 (3) Cannae's DNB Cost Basis Implied Gross MOIC $22.00 -1.9x Cannae Participation in the LBO Results in Significant Outperformance versus IPO Investors (1) DNB IPO Price Implied Gross Return -93% $18.63 Current DNB Share Price Current DNB share price of $18.63 is +93% above Cannae's cost basis and -15% below the IPO price Source: Public company filings and market data as of 8/5/2021. (1) Returns are hypothetical/ for illustrative purposes. Based on Cannae's total current cost of invested capital in DNB as of 8/5/2021 Cannae Investment Summary Investment Date Total Invested Capital Current Ownership Current Value Current Gain $22.00 July 2020 2019 $659.7M / $9.69 per share $1.27B $608.1M / 1.9x (2) Represents Cannae's Cost of Invested Capital / Tax Basis. (3) Represents Cannae's cost basis in DNB at the time of DNB's IPO. ● 0 In February 2019, Cannae and Bill Foley led an investor group in the take-private of Dun & Bradstreet • CH CANNAE HOLDINGS, INC. Initially invested $505M for ~20% ownership Subsequently invested $21M for M&A (Lattice Engines net investment less sale of shares) and $200M at time of DNB's IPO in June 2020 • Cannae's total current cost basis is $660M / average cost basis of $9.69 ● • In June 2021 Cannae sold 8.5M shares for gross proceeds of $186M DNB Stock Price Performance Since IPO $30 $28 $26 $24 $22 $20 $18 68.1M shares / 16% ownership stake Gross market value of Cannae's investment is $1.27B based on DNB stock price of 18.63 as of 8/5/2021 Mark-to-market gain on investment is $608.1B or 1.9x before taxes and fees wwwwwww dun & bradstreet August 2021 8/5/2021 $18.63 CANNAE HOLDINGS INVESTOR PRESENTATION AUGUST 2021 | 17
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