zSpace SPAC

Peer Benchmarking - Financial Metrics ($millions) Financial Metrics Scale CY 22E Revenue (¹) $37 CY 23E Revenue CY 22E EBITDA CY 23E EBITDA Growth CY 22E Revenue (1) Growth ICY 23E Revenue I Growth CY 21ACY 23E Revenue CAGR Profitability CY 22E Gross Margin (¹) CY 23E Gross Margin zSpace Chegg PowerSchool INSTRUCTURE duolingo coursera docebo Kahoot! arco ûdemy Median CY 22E EBITDA Margin 56 ΝΑ ΝΑ 40% 50% 45% 42% 43% ΝΑ $755 ΝΑ 834 227 275 (3%) 10% 4% 74% 74% 30% CY 23E EBITDA Margin Source: Company Filings, CapitallO. Market data as of 04/22/2022. 33% $624 690 182 210 12% 11% 11% 68% 68% 29% 30% $463 516 167 188 14% 11% 13% 77% 78% 36% 36% $339 429 22 35% 26% 31% 73% EdTech (subscription business model) 74% (1%) 5% $543 674 (49) (40) 31% 24% 27% 62% 63% (9%) (6%) $148 200 (2) 8 42% 35% 39% 81% 82% (1%) 4% $171 229 44 88 87% 34% 59% 91% 92% 26% 38% $318 394 112 144 29% 24% 27% 79% 81% 35% 36% $625 767 (68) (54) 21% 23% 22% 56% 58% (11%) (7%) 29% 24% 27% 74% 74% 26% 30% zSpace X edtech (1) Assumes the completion of 2 software acquisitions that are expected to contribute approximately $2m of estimated pro forma revenues holdings Meta Snap Inc. $127,592 $5,496 148,632 57,964 67,455 8% 16% 12% 79% 79% 45% 45% 7,731 730 1,565 33% 41% 37% 63% 67% 13% 20% Metaverse/AR/VR Unity $1,497 1,951 10 119 35% 30% 33% 79% 80% 1% 6% Matterport Median $130 178 (133) (108) 17% 37% 27% 54% 59% (102%) (61%) 25% 34% 30% 71% 73% 7% 13% 36

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