HUB Security SPAC Presentation Deck

Valuation Overview Benchmarking (Cont'd) Peer group profitability and Rule of 40 benchmarking (FY2023E) 11.8% '23E H HUA (FY2023E) 63.2% '23E H HUB 24.7% '26E H HUB 84.7% $26E H HUB 23.8% 28.6% paloalto FORTINET. 45.1% 48.9% ¯ paloalto FORTINET. (1) EBITDA Margin is a non-IFRS measures. See "Disclaimer." Source: CapIQ and FactSet (market data as of March 15, 2022) 19.9% CROWDSTRIKE 54.3% CROWDSTRIKE EBITDA Margin (¹) 12.2% CLOUDFLARE 45.9% 15.5% Rule of 40 Analysis CLOUDFLARE zscaler 46.8% zscaler okta SentinelOne (2.0)% 31.9% (21.6)% 40.5% 8.7% RAPID 31.1% okta SentinelOne™ RAPID 3.8% H Peer Median: 12.1% HUB 24.4% 11.9% CYBERARKVARONIS Peer Median: 42.8% 34.0% CYBERARKVARONIS Page 18

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