flyExclusive SPAC

V. FINANCIAL OVERVIEW VALUATION BENCHMARKING 1.3x flyexclusive 10.6x flyexclusive 6.8x 3.8x airbnb malo trip 61.7x ĐÃ Travel / Leisure Median: 1.6x 1.8x CV 47.3x 1.7x vacasa 1.5x Travel / Leisure Median: 18.8x 20.7x 0.7x Uber vacasa 16.9x 10.0x airbnb Uber © Exams EV / CY23E Revenue 0.7x INSPIRAIO ---6.6x 10.4x EV / CY23E EBITDA lyn th HERMES BAN 23.2x HERMES Luxury Brands Median: 4.4x 6.5x 3 4 MONCLER 17.5x Luxury Brands Median: 11.4x 4.1x LVMH LVMH 11.4x 10.9x Sources: S&P Capital IQ as of October 14, 2022. Note: flyExclusive multiples based on pre-transaction equity value of $600 milion, $108.7 million in debt (excludes plane lease liabilities due to control and repurchase features) and -$32.4 million of current cash and marketable securities on the balance sheet as of June 30th, 2022 MONCLER 2.8x KEHING 7.6x REMING Aviation Services Median: 0.9x 1.7x chorus 6.0x 0.1x chorus Aviation Services Median: 6.0x NM BLADE WHEELS UP NM NM BLADE WHEELS UP flyexclusive 39

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