Syniverse SPAC Presentation Deck

Summary Risk Factors ■ System failures, delays and other problems could harm our reputation and business, cause us to lose customers and expose us to customer liability. We do not control the networks over which many of our services are transmitted, and a failure in the operations of such networks could adversely affect our business. Our reliance on third-party vendors for communications software, hardware and other infrastructure components exposes us to a variety of risks we cannot control. ▪ Interruptions in the proper functioning of our information technology or "IT" systems from cybersecurity threats could damage our reputation, harm our operating results and result in significant liabilities. If we do not successfully complete our digital transformation, we could fail to meet market expectations with respect to the performance of our products and services and our business, financial condition and results of operations could be adversely impacted. I ■ ■ Our success depends on our ability to attract and maintain talented employees. We depend on a small number of customers for a significant portion of our revenues and the loss of any of our major customers would harm us. ▪ COVID-19 could continue to negatively impact our financial performance. The market for our services is intensely competitive, and many of our competitors have significant financial, technical, marketing and other resources. ▪ Future consolidation among our customer base and decisions by our customers to develop in-house alternatives to our services would negatively impact our financial performance. ▪ Our failure to achieve or sustain desired pricing levels or to offset price reductions with increased transaction volumes, could impact our ability to maintain profitability or positive cash flow. If we do not adapt to rapid technological change in the industries we serve and successfully develop, introduce and market new products and services, or such products and services are not widely adopted by our current or targeted customers, our prospects, financial condition and results of operation would be materially adversely affected. Most of our customer contracts do not provide for minimum payments at or near our historical levels of revenues from these customers. ▪ Our international operations are subject to uncertainties that could adversely affect our operating results. Political instability in certain countries in which we operate could have an adverse impact on our business and operations. Our international operations require us to comply with anti-corruption laws and regulations of the U.S. government and various international jurisdictions. We currently conduct limited business operations and expect to continue such ope ons in countries targeted by United States and European Union economic sanctions ■ ■ ■ We may not be able to receive or retain licenses or authorizations that may be required for us to sell our services internationally. Fluctuations in currency exchange rates may adversely affect our results of operations. We may be unsuccessful in achieving our growth strategies or our transformation cost initiatives, which could limit our profitability. We conduct business in both domestic and international markets with complex and evolving tax rules, which subjects us to taxation related risks. Regulations affecting our customers and us and future regulations to which they or we may become subject may harm our business. Because some of our services are used to collect and store personal information of our customers' employees or customers, privacy concerns could result in additional costs and liability to us or inhibit sales of our services. Failure to protect our intellectual property rights adequately may have a material adverse effect on our results of operations or our ability to compete. If third parties claim that we are in violation of their intellectual property rights, it could have a negative impact on our results of operations and ability to compete. If third parties claim that our products or services infringe on their intellectual property rights, we may be required to indemnify our customers for any damages or costs they incur in connection with such claims. We are party to a number of lawsuits that arise in the ordinary course of business and may become party to others in the future. ▪ The costs and difficulties of acquiring and integrating complementary businesses and technologies could impede our future growth, diminish our competitiveness, and harm our operations. ▪ Unfavorable general economic conditions in the United States or in other major global markets could negatively impact our financial performance. We incur variable termination fees on behalf of our enterprise messaging customers when we terminate A2P messages into a mobile operator's network. We bear the payment risks associated with these fees if our enterprise messaging customers do not reimburse these fees to us in a timely manner, or at all. ■ ■ I ■ ■ I ■ ■ 41

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