Southland Holdings SPAC Presentation Deck

2023E VALUATION Averages All Peers Southland (¹) 4.9x Southland (1) 2023E 7.4x 4.9x 5.3x Southland (2) 11.5x PWR QUANTA 12.1x ACM AECOM 10.2x ROAD 2023 EV / EBITDA T 7.1x DY 7.3x MTZ 5.7x FLR 4.8x GVA G GRANITE ODYCOM MasTec FLUOR, CPI Source: Company filings, S&P Capital IQ. Note: Market data as of May 23, 2022. Estimates based on consensus estimates. Refer to page 9 for additional details on transaction structure. (1) Assumes $165 million of EBITDA or above while TEV includes 6.9mm "Base" (2022 and 2023) and 3.4mm "Bonus" (2022 and 2023) earnout shares. Refer to page 10 for further details. (2) Assumes $145 million of EBITDA or above while TEV only includes 6.9mm "Base" (2022 and 2023) earnout shares. Refer to page 10 for further details. 6.1x PRIM BUILDING GREAT THINGS 5.2x P=CS Primoris Sterling Construction 3.9x TP LEGATO 12 MERGER CORP II

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