Forbes SPAC Presentation Deck

Compelling Valuation versus Public Comparables TEV / 2022E Revenue TEV / 2022E EBITDA Growth Adj. TEV / Revenue (2) Forbes 2.7x 11.8x 0.19x (1) J 3.5x 20.4x Publishers # 0.31x Median: 3.5x Median: 20.4x 1.5x= = 9.5x Median: 0.31x 0.21x 8.9x 25.7x 1.87x Data S&P Global FACTSET Median: 10.6x 12.7x Median: 23.2x 22.5x 8.4x 1.79x 23.8x Median: 1.73x 1.67x Source: S&P Capital IQ. Market data as of 08/23/2021. 1) Company estimates. For financial projections, please refer to "Use of Projections" portion of the disclaimer. 2) Metric Defined as TEV / 2022E revenue/2020-2022 revenue CAGR. DISNEY NETFLIX VIACOMCBS 4.4x 22.3x 0.31x 7.5x 30.8x 0.45x Media - Median: 3.4x 1.4x COMCAST 8.3x 3.0x Median: 14.3x 9.5x Median: 0.31x 0.19x 0.34x 4 Discovery 2.5x 7.9x 0.27x WARNER MUSIC 3.8x 19.2x 0.31x Education GCE coursera Median: 6.1x 4.0x Median: 11.2x 11.2x 8.1x 0.55x NA Median: 0.41x 0.26x Forbes Media & Ent. Brands Median: 2.8x 2.5x AMAND 13.1x Median: 12.1x 3.1x 0.05x 11.0x Median: 0.14x 0.22x 47

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