Rigetti SPAC Presentation Deck

Significant upside potential ($bn) Implied future EV $6.5 $5.3 • Rigetti is valued by applying a 2-year forward multiple range of 9.0x - 11.0x, based on current peer multiples, to Rigetti's 2026E revenue of $594M to arrive at a future EV in 2024 Implied discounted EV $3.8 $3.1 . Rigetti's 2024 future EV is then discounted back 3 years at a 20% discount rate to arrive at an implied discounted EV today 51 Transaction value Implied discount of -67% at the midpoint $1.2 • Transaction is priced at an additional discount rigetti

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