Captivision Business Combination Overview

BUSINESS COMBINATION OVERVIEW VALUATION BENCHMARKING Digital Media and Advertising Median: 11.2x IT and Smart Products Median: 8.8x 12.8x 12.6x 11.7x 8.5x 9.1x 7.3x EV / 2025E EBITDA 10.0x 9.8x 5.7x EV / 2024E Revenue / G GLAAM LAMAR JCDecaux OUTFRONT/ Clear Channel Orlan legrand AcuityBrands. GENERAC BARCO- Median: 0.63x 1.50x 0.46x 0.10x Median: 0.28x 0.80x 0.67x 0.28x 0.31x 0.25x 0.23x GLAAM LAMAR JCDecaux OUTFRONT/ legrand AcuityBrands. GENERAC BARCO Clear Channel Ouncer Median: 1.97x Median: 1.49x 3.75x 2.62x 2.51x 2.24x EV / 2024E EBITDA / G 1.44x 0.66x 0.75x 0.69x 0.16x GLAM (LAMAR JCDecaux OUTFRONT/ Clear Channel Orlan Note: Metrics for peers based on FactSet consensus estimates; FactSet data as of 8/21/2023. GLAAM multiples based on an enterprise value of $325M GLAAM PRIVATE AND CONFIDENTIAL // 39 legrand AcuityBrands GENERAC BARCO- 0 CAPTIVISION

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