DIGITAL MANUFACTURING. REIMAGINED. slide image

DIGITAL MANUFACTURING. REIMAGINED.

然 Fathom Public Company Comparison Universe ✓ Fathom outperforms comparable universe on key growth and profitability metrics Transaction priced at a discount to comparable universe Adj. EBITDA¹ multiple bridge '22 EBITDA margin Industry 4.0 comparable universe Scaled advanced r $1,795 manufacturing / Industry disruptors Early stage / Recent de-SPACS I ($302) $1,493 (16.8%) 北 BG Bright Machines. COGNEX materialise 3D SYSTEMS PROTOLABS stratasys Roper D Desktop Motal Markforged FATHOM VELO 3D 17.5% N/M 26.5% Implied Fathom EV at scaled adv. mfg. median of 33.0x EV / '22 EBITDA multiple Implied EV discount Fathom transaction value at 27.5x EV/'22 EBITDA multiple '22 Gross margin 53.2% 33.8% 52.0% Revenue multiple bridge $2,786 ($1,293) '20-'23 11.1% Revenue CAGR EV / '22 Revenue 5.0x EV / '22 Adj. EBITDA¹ 33.0x - 92.1% 19.1% 13.6x 7.3x N/M 27.5× $1,493 (46.4%) Implied Fathom EV at early stage median of 13.6x EV / '22 revenue multiple Implied EV discount Fathom transaction value at 7.3x EV/'22 revenue multiple Source: Company filings, management projections, Factset as of 7/14/2021; Berkshire Grey data from SPAC announcement presentation as of 2/24/21, MarkForged data from SPAC announcement presentation as of 2/24/21, Velo3D data from SPAC announcement presentation as of 3/23/21, Bright Machines data from SPAC announcement presentation as of 5/17/21 Note: Fathom information reflects various adjustments to give pro forma effect to acquisitions completed in 2020 and 2021 as if such transactions occurred on January 1, 2020 1 Adjusted EBITDA is a non-GAAP measure. Adjustments to EBITDA include transaction and integration costs, non-recurring and non-cash items, compensation normalization and other accounting adjustments. See Appendix for a calculation of Adjusted EBITDA FATHOM Fathom Proprietary and Confidential 33
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