Reservoir Investor Presentation Deck

1 Music Industry: Strong Secular Tailwinds Rise of Digital & Availability of Streaming Digital Revenue CAGR: 13% (2010-20) 12% (2020-30) Tik Tok TRILLER Supernatural ROBLOX Expansion Of Emerging Music Monetization Platforms Source: Wall Street Research Growth Of Paid Streaming Subscribers Paid Subs CAGR: 49% (2010-20) 11% (2020-30) COPYRIGHT DIRECTIVE Music Modernization Act CRB Increased Government Intervention To curb piracy and improve monetization rates for content owners ♬ Growth Of Streaming In Emerging Markets EM to contribute 43% of streaming revenue by 2030 vs. 13% today 52 Recovery In Process Across Impacted Royalty Streams (Gym/Bars/Restaurants, Synch, Music Releases, Live Music) 13 R

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