Responsive Acquisition Marketing Platform (RAMP)
System1 Checks All of Our Boxes
Large TAM
Differentiated Solution
Proven Track Record
Strong Management
Flexible Capital
Structure
Proven Platform
Leverage Playbook
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System1 operates in a very large and growing market
U.S. digital advertising was a $150B market in 2021, growing to $278B in 2024
Serving advertisers across every industry vertical for mass relevancy
System1's RAMP platform drives a long term sustainable advantage
Highly automated, Al-driven customer acquisition and monetization platform
Diversified across industry verticals and marketing channels
1st Party data (not reliant on third-party cookies) positions System] for the future of online consumer privacy
Long track-record of performance
$120M of 2021E Pro Forma Billings Adj. EBITDA with 94% 2021E Adj. Free Cash Flow conversion¹
Positive PF Billings Adj. EBITDA since inception
Strong management team that has worked together for many years
Founder-led management team with track record of success
Deep knowledge of sector and strong employee loyalty
Strong FCF generation allows for capital structure flexibility
Adj. Free Cash Flow gives opportunity to take on and service debt
Ability to draw additional debt positions System] well to drive organic and inorganic growth
System1 business model and technology provides a platform that scales to support organic growth and integrate M&A
Successfully acquired and scaled 7 companies
We look to continue their success & execute on larger opportunities
Proven track record of driving significant shareholder value
Trebia to drive cost efficiencies and organic and inorganic growth initiatives
Experience in scaling public businesses and expanding multiples
Adj. Free Cash Flow is a non-GAAP metric which we define as Billings Adj. EBITDA less capital expenditures; Adj. Free Cash Flow conversion is a non-GAAP
metric, which we define as Adj. Free Cash Flow divided by Pro Forma Billings Adj. EBITDA
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