FiscalNote Earnings and Growth Projections

Attractive DeSPAC Valuation Relative to Peers 2022E EV/Sales Core Comps 25.3x 23.3x 8.8x 8.2x 6.9x Info Services 32.4x 13.6x 12.9x 25.7x Vertical Software 21.9x 22.2x 19.0x 19.3x Median: 19.0x Mean: 18.0x 12.9x 12.2x 11.9x 1 Fiscal Note ■DISCO legalzoom intapp MSCI CoStar Group Z zoominfo tyler QPalantir Veeva chrologis Avalara PROCORE GUIDEWIRE ■lilncino Duck Creek Technologies Alkami EV 1.2 3.2 5.3 1.8 55.2 30.8 28.1 23.6 48.9 46.7 15.3 11.6 9.6 7.0 3.7 2.4 ($BN) 42 Note: FactSet. Market data as of November 3, 2021. (1) FiscalNote multiple calculated off 2022PF EV / Sales. Fiscal Note

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