Topps SPAC Presentation Deck

Pro Forma Adjusted EBITDA Reconciliation 34 ($ in thousands) (a) Net income Interest expense, net Income tax expense, net Depreciation and amortization Transaction costs Sponsor management fees & expenses Non-cash and non-operating (gains) losses Miscellaneous non-core costs Loss/(gain) on derivative instruments, net Loss on sale of subsidiaries Adjusted EBITDA (a) Public company costs Pro Forma Adjusted EBITDA 2019A 8,802 13,139 4,923 4,693 1,084 2,271 2,372 2,339 (1,308) 13,151 51,466 51,466 (a) Net income excludes public company costs; 2020-2022 pro forma adjustments assume estimated annualized run rate. (b) Projections use Topps management estimates. With respect to projections, see slide 1 "Use of Projections" under "Disclaimer." 2020A 83,654 11,656 688 4,193 378 2,199 (2,958) 1,221 9 101,040 9,024 92,016 2021E(b) 70,285 14,527 21,689 4,158 525 269 2,267 113,720 9,024 104,696 2022E(b) 78,547 14,343 24,779 4,433 525 270 1,675 124,572 9,377 115,195 LOPPS

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