Cannae SPAC Presentation Deck slide image

Cannae SPAC Presentation Deck

optimalblue Company Overview Optimal Blue ("OB") is a leading SaaS mortgage marketplace supporting the industry's largest network of residential mortgage originators and investors - The company is a critical utility sitting in the center of mortgage originators, mortgage investors, and mortgage servicers, and provides mission critical pricing data required to close a loan Ⓡ - The company's platform connects mortgage originators with secondary investors through its repository of searchable and actionable loan programs and loan-level price data, enabling them to enhance workflow efficiencies and stay competitive and confidently execute profitable lending strategies Optimal Blue has a broad reach across commercial banks, mortgage banks, and credit unions and mortgage brokerage companies, serving more than 77,000 active users at more than 3,000 institutions - The company facilitates over $1 trillion of mortgage transactions annually, touching -35% of all locked mortgages nationwide Cannae Investment Summary Investment Date Total Invested Capital Current Ownership Sept 2020 $289M ~20% ownership • In 2020 Cannae invested $289M for a 20% ownership interest in the newly formed combined entity, which consists of Optimal Blue and Black Knight's Compass Analytics business Optimal Blue is a leading provider of secondary market solutions and actionable data services Source: Public company filings and market data as of 8/5/2021. See page 27 for EBITDA reconciliation. ● Investment Overview On September 15, 2020, Black Knight announced the closing of its acquisition of Optimal Blue, a leading provider of secondary market solutions and actionable data services Optimal Blue was purchased for an enterprise value of $1.8 billion funded with cash on hand, debt financing, and investments from Cannae and THL In connection with the acquisition, Black Knight combined its Compass Analytics business with Optimal Blue in a newly formed entity with minority co-investors Cannae and THL Cannae and THL each have a 20% ownership interest in the new entity Black Knight owns the remaining 60% Three Months Ended June 30, Three years after the closing of the Transaction, BKI will have call rights on Cannae's interests in Optimal Blue at a call price equal to the greater of (i) the fair market value and (ii) an amount that would result in a 2.0x multiple of Cannae's investment Financial Overview Revenue $ $ 2020 $ 35.3M $ Net (loss) income Adjusted EBITDA Cannae made its investment in Optimal Blue on September 15, 2020. Financial information for the three months ended June 30, 2020 is presented for comparative purposes. 5.5M 17.6M $ 2021 $ CH 44.3M CANNAE HOLDINGS, INC. (18.7M) 24.8M CANNAE HOLDINGS INVESTOR PRESENTATION AUGUST 2021 22
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