Forge SPAC Presentation Deck slide image

Forge SPAC Presentation Deck

Comparable Companies / Valuation EV / 2022E Net Revenue (1,2,3) Selected Peers EV/ 2022E Net Revenue / 2022E Growth (1,2,3) 2022E Net Revenue Growth(1,2,3) Key Considerations on Comparability to Forge 1234 2) 3) Forge 23% 10.6x 0.5x High Growth FinTech adyen affirm lightspeed shopify bill.com afterpay 39% X 24.2x 0.7x ✓ Similar monetization models on transaction volume and data with high, sustainable financial growth profile Large TAM that is underserved by current providers Serving different end markets Fixed-Income Trading Platforms MarketAxess Tradeweb 11% 18.8x 1.8x ✓ Alternative asset liquidity provider with advanced digital platforms and data solutions Large focus on fixed income products and services Lower growth relative to Forge 1) Net Revenue (Revenue less Transaction Expenses) shown for Forge; Revenue metrics for Shopify, Afterpay, Lightspeed and Bill.com based on gross revenue Metrics based on the median of the relevant comp set NASDAQ OMX X Large Global Exchanges DEUTSCHE BÖRSE GROUP 5% Based on FactSet as of July 19, 2021 4) Represents weighted average across selected peer groups, in which the weights are the number of companies in each group divided by the total number of selected. 9.7x Lice 2.1x Trading and data platforms with similar business model Scaled players for primarily listed assets with mature growth and margin profiles Low growth relative to Forge I Mean(4) 24% 19.3x 1.3x Forge 46
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