Bigbear AI SPAC Presentation Deck

Benchmarking (cont'd) Peer group profitability and Rule of 40 benchmarking Adj. EBITDA Margin (FY'22E) Rule of 40 Analysis (FY'22E) 13.0% '22E A BIGHEAR.AI 65.4% '22E 62 BIGHEAR.AL BIGBEAR. AI 20.8% '25E BIGBEAR.AI 59.8% '25E BIGGEAR.Al 9.1% alteryx 26.5% (32.9%) C3.al 4.3% alteryx cal 14.4% CROWDSTRIKE 57.5% CROWDSTRIKE (2.3%) 5.5% elastic everbridge 29.1% 29.8% elastic everbridge' n.m. 26.5% IronNet Palantir 36.0% 44.0% (6.8%) 5.0% snowflake splunk> 69.0% 36.0% IronNet Palantir snowflake splunk Peer Average: 4.0% Peer Median: 5.5% 17.8% ▪▪▪▪▪ MEDIAN Telos Peer Average: 38.9% Peer Median: 36.0% 56.6% Telos MEDIAN Source: CapIQ and FactSet; Market data as of June 2, 2021. Refer to Safe Harbor on slides 2 and 3 regarding projected financial information with respect to BigBear.ai. 36

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