Appreciate SPAC Presentation Deck

BUSINESS COMBINATION OVERVIEW Valuation Benchmarking EV/ 2023E Revenue EV/ 2023E Gross Profit 3.7x Appreciate A 6.5x 12.4x airbnb Real Estate Rental Marketplaces airbnb @ 15.0x Hemnet 15.1x 15.3x 2 Zillow Hemnet 6.3x Median: 12.4x CoStar Group™ 9.6x 6.6x 2 Zillow Median: 15.1x 11.8x 8.1x SCOUT 24 CoStar Group™ 8.3x 15.4x rightmove SCOUT 24 18.6x 12.6x REA Group rightmove 20.4x REA Group Online Investment Marketplaces 5.6x етого 12.4x Median: 5.4x Robinhood четого 4.6x 8.3x InteractiveBrokers 6.3x Median: 8.0x coinbase Robinhood Appreciate Source: FactSet Market Data, Benchmark Company Filings and Presentations. Market data as of 4/04/2022 Note: eToro LTM financials sourced to investor presentation filed 03/07/2022, projected financials sourced to investor presentation filed 09/13/2021; net trading income used as revenue Note: Pulling implied market capitalization for Interactive Brokers and Robinhood; valuations based on market cap Note: No 2023E gross profit projections for Rightmove, Robinhood, Interactive Brokers. Multiples based on 2021A gross margin % applied to 2023E revenue projections; see slide 43: Financial Model Assumptions 9.3x 5.2x InteractiveBrokers 6.6x coinbase Tech-Enabled Property Management 1.8x Selina Median: 1.8x Selina 10.3x 0.9x Sonder Median: 6.3x 3.0x Sonder 3.3x vacasa 6.3x vacasa 4 ww Appreciate Overall Median: 7.2x Overall Median: 9.8x Private & Confidential 40

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