Topps SPAC Presentation Deck

5 Transaction Summary ■ 2 MDP 3 Blue Chip Private Equity and Public Company Sponsorship 4 5 VORNANTE THE TORNANTE COMPANY In 2007, Tornante and Madison Dearborn Partners partnered to take Topps private Tornante's leadership has transformed Topps with a specific focus on digital and long-term sustainable profit Tornante will roll 100% of its equity interests as part of the transaction; Michael Eisner will remain engaged as Chairman of Topps Founded in 2005 by Michael Eisner, Tornante is a privately held company that invests in, acquires and operates companies in media and entertainment (e.g. Portsmouth Football Club, television studio Tornante TV, and streaming platform Struum) MUDRICKCAPITAL Founded in 2009, Mudrick Capital currently manages approximately $3.2 billion with a specialty in event- driven and special situation investing in public and private companies in North America 12 years of capital deployment spanning over 200 investments since the firm's inception Over 30 investments with active involvement via board of directors or creditor committee involvement Experienced SPAC sponsor with a track record of successful execution L First SPAC launch in January 2018, with de- SPAC in May 2020 Long-term investment focus with history of post- transaction support for our portfolio companies Typical hold period for core investments is 5 years, some substantially longer topps

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