Rally SPAC Presentation Deck

Lines per bus trip unit economics Gross margin per ride & price combination Bus trip gross margin in 2024(E) based on fill rate & ride $1,2 Fill rate (seats) $20 $22 15 20 25 30 35 40 45 50 -195% -121 % -77% -48% -27% -11% 2% 11% -168% -101% -61% -34% -15% -1% 11% 19% $24 -146% -85% -48% -23% -5% 8% 18% 26% $26 -127% -70% -36% -14% 3% 15% 24% 32% $28 -111% -58% -27% -5% 10% 21% 30% 37% $30 -97% -48% -18% 2% 16% 26% 34% 41% $32 -85% 21% 31% 38% 45% $34 -74% -30% -4% 13% 26% 35% 42% 48% -64% -23% 2% 18% 30% 38% 45% 51% -55% -17% 7% 22% 33% 42% 48% 53% -48% -11% 11% 26% 37% 45% 51% 56% -38% -11% 8% $36 $38 $40 $ per ride Expected average fill rate (seats) per year 80 60 40 20 0 38 6 $O 2022 $25 2022 27 Expected average $ per seat per year $60 $40 $20 10% ● 2023 2022 $26 ● 2023 Expected gross margin per year 75% 50% 25% 0% -25% ASSUMPTIONS & EXPECTATIONS3,4 -17% 2023 31 ● 2024 $33 ● 2024 -20% 2024 ● ● New stop combinations decrease average fill rate in 20234 Average fill rate rebounds in 2024 as combinations mature and no new combinations are launched 5 Balance of new and existing combinations keep average $ per seat relatively steady in 20234 Average $ per seat jumps significantly in 2024 as no new combinations are launched5 New stop combinations decrease gross margin in 20234 Gross margin rebounds in 2024 as combinations mature and no new combinations are launched 5,6 1.Revenue of a bus trip is calculated by multiplying the number of seats sold (fill rate) for a bus trip by the average price per seat of that trip. The cost of a bus trip is the price for chartering a bus for a linesrun. The difference is the gross margin of the bus trip. 2.The cost of goods used for this table is the expected average of the cost of chartering a bus for a lines trip over the first two years of a newly launched route & associated line stops. 3.Average fill rate and average price per seat expectations are based on management's expectations of creating awareness with new and existing line stops in the Northeast and Southeast regions of the USA 4.Please see Financial Information disclaimer on Page 4 5.New line stops are expected to have low fill rates and low $ per seat during its first few months, resulting in a negative gross margin. Fill rates and $ per seat are expected to increase during the stop's first two years, ultimately resulting in a positive gross margin as the stop matures. See Assumptions: Lines Offering and Lines Launch Playbook for more information. 6.Cost of goods sold per bus is expected to increase each year due to the rising costs of operating a bus, such as gas costs, labor, and maintenance. 55 rally

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