Hypebeast SPAC Presentation Deck

Transaction Summary Hypebeast will acquire Iron Spark I (ISAA) resulting in a dual listing on the HKEX and NASDAQ. Transaction Parties Hypebeast Limited, a Cayman Company (HKEX:150) Iron Spark I, a Delaware Corporation (NASDAQ: ISAA) Transaction Summary The transaction will be funded by a combination of ISAA cash held in a trust account, newly issued Hypebeast ordinary shares and proceeds from a PIPE transaction ● ● ● Transaction is expected to result in approximately US $180 million of total proceeds* Hypebeast intends to use the proceeds from the transaction to make incremental investments primarily across technology, talent and marketing to support continued growth of the business Capital Structure & Valuation Transaction implies a pro forma enterprise value of US $353 million, representing 3.1x based on FY2021E revenue of not less than US $112 million, an attractive valuation relative to peers Existing Hypebeast shareholders are expected to retain 56.2% of the pro forma equity of the combined company* Listing Pro forma company is expected to be dual listed and trade in Hong Kong under stock code 0150.HK and in the US with ticker $HYPE ● ● HYPEBEAST + XX IRON SPARK ● ● Note: For FY2021E, Fiscal Year Ends March 31, 2022. * Assuming (i) no redemption by SPAC's public shareholders, (ii) a PIPE transaction with gross proceeds of US $13.3 million, (iii) SPAC Sponsor's rollover into Hypebeast and (iv) estimated transaction expenses of US $21M. 11

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