W3BCLOUD SPAC

Operational Benchmarking 2021A - 2023E Revenue Growth CAGR(¹) W3BCLOUD Circle (2) Marathon RIOT Core Scientific Greenidge Switch (3) Equinix Digital Realty 12% 9% 8% W3B CLOUD 49% 40% 69% 138% 181% 450% Source: Company filings, Wall Street Research per FactSet as of 7/26/2022. Notes: Data Centers 2023E EBITDA Margin W3BCLOUD Marathon Switch (3) Digital Realty RIOT Equinix Core Scientific Circle(2) Greenidge Coinbase Crypto/ Digital Asset Focused 9% 28% 32% (1) Coinbase excluded given negative 2021A-2023E Revenue Growth CAGR projected. (2) Circle revenue & EBITDA estimates based on publicly disclosed guidance as of 2/21/2022. (3) Trading for Switch shown as of 5/10/2022, one day prior to announcement of intent to be taken private by Digital Bridge Investment Management and IFM for $34.25/share. 43% 47% U.S. Bitcoin Miners 53% 53% 52% 65% 64% 28

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