Mondee SPAC

Travel-Sector Public Companies - Current Valuation Levels 2023F EV/EBITDA¹ Multiple 2023F P/E¹ Ratio 2023F Net Leverage Ratio Revenue CAGR, 2015-19 (%) Sources: Public filings, Capital IQ Notes: 1. Market data as of 7 December 2021 10.5× MONDEE Organic 14.4x MONDEE Organic 1.4x 41.0 12.4x 18.5× 17.9x OTAS / Travel Business SvcsBusiness Airlines Leisure Airlines 0.0x 22.6 28.7x 5.4x 2.3x OTAS / Travel Business SvcsBusiness Airline Leisure Airlines 7.6 6.7x 4.2x 3.2x 5.0 8.1x 0.9x 8.7 13.9x Hotels 28.3x Hotels 2.8x 4.3 8.4x Cruise 10.1x Cruise 4.5x 8.0 MONDEE © 2021 All Rights Reserved | Confidential | 26

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