Mondee SPAC

Transaction Summary Mondee Holdings is combining with ITHAX Acquisition Corp. in a SPAC transaction expected to close in 2022 ■ ■ ■ ■ Key Highlights Valuation: Fully diluted Enterprise Value of $842M and a pre-money equity valuation of $608M Multiples: 10.5x 2023E EV/ Organic EBITDA multiple or 7.2x 2023E EV/ Organic + Inorganic EBITDA multiple Pro forma post closing equity valuation of $967 million Mondee to receive $291.5 million in gross proceeds as a result of the transition - $241.5M¹ from SPAC cash in trust and $50M² from PIPE No secondary element. Proceeds to be used to fund acquisitions, optimize capital structure, and for general corporate purposes Estimated Sources and Uses (Dollars, Millions) Sources ($M) Public entity cash in trust¹ Private placement (PIPE)² Company rollover SPAC Sponsor equity Existing cash on balance sheet Total Sources ($M) Uses ($M) Company rollover Cash to surviving entity balance sheet 608.0 Repayment of debt 67.1 35.0 1,001.6 1. Assuming no redemptions 2. Minimum of $50M 241.5 50.0 SPAC Sponsor equity Payment of est. transaction expenses Total Uses ($M) 608.0 151.5 150.0 67.1 25.0 1,001.6 Illustrative Pro Forma Valuation (Dollars, Millions) Share price Pro Forma Shares Outstanding¹ Equity Value (+) Pro Forma Debt (-) Pro Forma Cash Pro Forma Enterprise Value Sources: Mondee and ITHAX financials. Mondee financials based on AICPA standards; may be adjusted on application of PCAOB standards. Notes: SPAC Public Shareholders Pro Forma Ownership SPAC Sponsor PIPE Public Shareholders 5% 25% 7% 63% Mondee Shareholders MONDEE $10.00 96.7 $967 $27 ($152) $842 2021 All Rights Reserved | Confidential | 4

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