System1 Investor Presentation Deck

6 Key Financial KPIs – 2022 Guidance $258M FY 2022 Adjusted Gross Profit forecast $ $128M FY 2022 Adjusted EBITDA forecast (49.5% margin on adjusted gross profit) 2.3M+ Paying subscribers across Owned & Operated subscription products Note: FY 22 Adjusted Gross Profit and Adjusted EBITDA forecast assumes midpoint of Company's most recent guidance provided on November 10, 2022. Note: See Appendix for a reconciliation of non- GAAP metrics to comparable GAAP metrics. Includes Protected.net results for January 1, 2022 through January 26, 2022. SYSTEM

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