BuzzFeed SPAC Presentation Deck

BuzzFeed 41% (1) (2) Diversified Revenue Revenue Mix (3) 11% 48% 2019A Advertising 44% Content 31% 25% 2024E Commerce Key Financial Themes Delivering Profitability at Scale COGS and Operating Leverage as a % of Revenue 52% 51% 2019A 50% 46% 2020A 51% 38% 2021E COGS as a % of Revenue 48% 34% 2022E 47% 47% 30% 29% 2023E 2024E OpEx(³) as % of Revenue Key Customer Retention (1)(2) Annual Spend for Top 5 Clients $27M 2019A 42% YOY% $39M Note: Dollars in millions. Unless noted, figures are Pro Forma for Complex. Not Pro Forma for Complex. Top 5 Clients (of 2020, with comparison to 2019 spend) include a Leading Insurer, two Leading Retailers, a Leading CPG Conglomerate, and a Leading Grocer. Excludes revenue earned STRICTLY PRIVATE AND CONFIDENTIAL from platforms (i.e., affiliate commissions from Amazon, programmatic pre-roll and display). Excludes D&A, SBC, Tax and other one-time non-recurring expenses. 2020A 28

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