Responsive Acquisition Marketing Platform (RAMP)

Peer Trading Analysis – Valuation Benchmarking - TEV / 2021 EBITDA TEV / 2022 EBITDA 11.9x 46.5x Median: 24.6x 34.4x 28.6x 24.6x 17.1x 15.7x 11.7x SYSTEM Media Alpha EVERQUOTE lendingtree QUINSTREET Taboola J2 TechTarget GLOBAL 9.1x SYSTEM 33.2x 25.0x 24.1x 16.4x 14.0x Median: 16.4x 137x_ 10.9x CAMedia Alpha TechTarget EVERQUOTE lendingtree Taboola QUINSTREET J2 GLOBAL Note: System1 metrics are based on Pro Forma Billings Adj. Revenue & Pro Forma Billings Adj. EBITDA; Metrics for comparable companies presented are calculated on a Revenue Source: FactSet (as of 6/25/21) S1 & Adj. EBITDA basis. 42

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