Kore SPAC Presentation Deck

Pro forma EBITDA ($ in millions) Net Loss Change in fair value of warrant liabilities Tax Expense Interest expense, net Depreciation and amortization Impairment Taxes Pro forma EBITDA Pro forma EBITDA, Integron Stock based compensation (including payroll taxes) Foreign exchange Impact of carrier liability write off FIN48 Sales tax liability reserve adjustment VAT liability reserve adjustement Other income tax reserve adjustments Discretionary Outlays¹ Integration/Acquisition costs Unrealized Synergies Other items identified in covenant add-backs Est. Public Company costs Adj. EBITDA² 2019 $(23) (0) 25 48 4 (13) $ 40 8 2 1 (4) (2) (1) 0 9 5 1 (0) (2) $ 57 2020 $(35) 7 0 23 52 (5) $ 43 -O ON 1 7 5 1 O (2) $ 57 (1) Discretionary Outlays represent expenditures related to developing and growing new sales channels, initiatives, and markets, including KORE One development costs, sales development and channel sales teams, and loT Solutions. (2) Adj. EBITDA represents Adjusted EBITDA as defined for the Company's Credit Agreement. Certain adjustments have been included in the nature of those allowed by the credit agreement to reflect the Transaction perimeter. Note: KORE does not provide reconciliations of EBITDA or Adjusted EBITDA to net income on a forward-looking basis because KORE is unable to forecast the amount or significance of certain items required to develop meaningful comparable GAAP financial measures without unreasonable efforts. These items include gains or losses on sale or consolidation transactions, accelerated depreciation, impairment charges, gains or losses on retirement of debt and variations in effective tax rate, which are difficult to predict and estimate and are primarily dependent on future events, but which are excluded from the KORE's calculations of EBITDA and Adjusted EBITDA. KORE 48

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