PRIVATE & CONFIDENTIAL

Discussion Materials and Market Overview

May 2021 1. SPAC Market Overview

2. SPAC Mechanics & Key Considerations

3. About Canaccord Genuity (CG)

4. Recent CG SPAC Qualifications

Driven by your success. Driven by your success. Key Highlights Proceeds Announced Year # IPO Searching Liquidated (B) / Closed • 711 SPACs have listed on U.S. exchanges since 2016 2016 13 $3.5 11 0 2 − Total IPOs proceeds for the period are $220 billion 2017 34 $10.0 31 0 3 • 277 of the SPACs have announced or closed on subsequent acquisitions – “Qualified Transaction” (QT) 2018 46 $10.8 45 0 1 2019 59 $13.5 52 6 1 • 421 SPACs that have priced since the beginning of 2020 remain in the market for an acquisition 2020 248 $82.6 130 118 0

• Additional 259 on file for IPO in 2021 2021 311 $99.7 8 303 0

Number of U.S.SPAC IPOs Gross SPAC IPO Proceeds ($USD in billions) 120 $40.0 109 $35.6 $35.4 98 $35.0 100 91 $30.0 $25.7 80 $25.0

60 $20.0 $17.7 50 47 $15.0 $13.1 38 $11.8 40 32 $11.0 $10.2 26 $10.0 $6.9 18 20 13 9 9 $5.0 $3.2 $2.7 $3.0

0 $0.0 May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr

Source: Dealogic and SPAC Insider as of 4/30/21. All US-listed SPACs since 2016. Page 4 Driven by your success. Market Commentary 2021 SPAC Highlights

• IPO market stalled in April – 13 IPOs priced raising $3B in Jan Feb Mar Apr TOTAL proceeds; deal count and proceeds were both down approximately 90% from March levels 2021 Priced IPOs • Slowdown is largely due to thinning returns as well as SEC # IPOs 91 98 109 13 311 scrutiny and the potential for new guidance around SPAC IPO Proceeds ($B) 25.7 35.6 35.4 3.0 99.7 accounting practices Announced QT 6 2 0 0 8 • The recent drop-off in activity immediately followed a 3- week stretch of negative 1-day returns on IPOs 2021 Announced QTs • 427 SPACs remain actively searching for QTs – 303 are IPOs that priced in 2021 # QTs 17 43 33 19 112 • Backlog of IPOs continues to grow – 259 on file that have yet QT Ent. Value ($B) 35.8 116.2 79.8 58.3 290.0 to price heading into this week PIPE Value ($B) 21.0 14.7 9.6 7.0 52.4

40.0 120 35.0 35.6 35.4 100 30.0 80 25.0 25.7 IPOs # 20.0 60 15.0 17.7 40

IPO Proceeds ($B) IPOProceeds 10.0 11.8 13.1 11.0 10.2 20 5.0 0.7 2.3 1.0 2.2 3.2 2.7 6.9 3.0 0.0 0 Jan Feb Mar Apr May June Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr

IPO Proceeds IPOs

Dealogic & SPAC Insider as of 4/30/21. Page 5 Driven by your success. IPO Volume Average SPAC IPO Size ($USD in billions) ($USD in millions)

Warrant Coverage Evolution ⚫ SPACs have accounted for 64% of all IPO volume in 2021, compared with 49% in 2020

⚫ The average SPAC IPO size has increased more than 40% from 2019

⚫ Average SPAC has 18.5 months left to complete an acquisition

⚫ Over time, SPACs have trended towards smaller fractional warrant coverage

Source: Dealogic , SPAC Insider and CapIQ as of 4/30/21 Page 6 Driven by your success. IPO Proceeds ($M) % Held in Trust Key Highlights

⚫ 546 SPAC IPOs in the last twelve 8% 9% 4% months with a substantial pick-up 6%

in 1Q21, followed by tempered 19% activity in April 25% $250M 10% above 100% ⚫ Most deals ranged from $100 -$300 Median million, with a median of $250 million in cash proceeds 39% 90% ⚫ Most common warrant coverage was 1/2 or 1/3 (included on 60% of $0 - $100 $100 - $200 $200 - $300 100.0% 100.5% 101.5%+ IPOs) $300 - $500 $500+

Qualifying Transaction (QT) Period Warrant Coverage Sector Focus

Warrant Coverage No. of SPACs Sector No. of SPACs

5% 1/5+ 80 Technology 199 11% 1/4 71 General / Broad 75 1/3 173 24 Months Life Sciences 77 Median 1/2 152 Sustainability 63 3/4 6 Consumer 37 84% 1/1 16 Geographic Focus 21 +1/1 10

6 - 12 months 12 - 18 months None 38 Other 74 18 - 24 months

Source: Dealogic & SPAC Insider from 5/1/20-4/30/21 Page 7 Driven by your success. SPAC Status by Year of IPO SPAC Success Rate (% of transactions) (% of transactions) 100% 2% 9% 2% 12% 1% 90% 15% 15%

80% 54% 52% 70% 40% 60%

50% 85% 93% 40% 85% 85%

30% 34% 46% 46% 20%

10% 6% 4% 10% 2% 0% 2015 2016 2017 2018 2019 2020 2021 # SPACs 20 13 34 46 59 252 579 Filed for IPO Searching Announced Completed Liquidated SPAC Maturity (% of transactions)

⚫ Since 2015, SPACs have had a 94% success rate at completing a transaction

⚫ Even with a high success rate, 21% of SPACs had to file for a shareholder extension in order to complete an acquisition

⚫ On average, a SPAC takes 77% of the allotted time to complete an acquisition

Source: SPAC Insider as of 4/30/21 Includes data from 2015-April 2021 Page 8 Driven by your success. ⚫ With explosivity in the SPAC IPO market over the past two years, the volume of announced and completed SPAC acquisitions has followed suit ⚫ Growing number of SPACs seeking targets has not only driven up the number of transactions, but also boosted the average transaction size ⚫ Similar to the non-SPAC M&A market, the Technology sector has been a prime target for SPAC acquisitions and has accounted for nearly one-third of acquisitions Announced SPAC Acquisitions Average Completed SPAC Acquisition Size ($USD in billions) (Average, $USD in billions)

SPAC Acquisitions by Sector % Shareholder Redemptions (% of deals)

Source: Dealogic & SPAC Insider as of 4/30/21 *Includes deals that have been announced and closed since 2015 Page 9 Driven by your success. ** Other includes Business Services, Communications, Real Estate and Transportation $60 $56.66

$49.76 $50 $47.22

$39.05 $40 $36.54

$47 $30.04 $29.30 $29.06 $30 $40 $27.93 $37 $25.82 $25.55 $25.32 $22.85 $29 $22.75 $22.15 $27 $20.27 $20 $20 $19 $19 $18 $16 $16 $15 $13 $13 $12 $10

$10

$10 $10 $10 $10 $10 $10 $10 $10 $10 $10 $10 $10 $10 $10 $10 $10

$- DKNG PLBY BWMX LPRO QS MP UTZ AHCO CLVT PCT DNMR CHPT RPAY LAZR SPCE OPEN

Target

Diamond Eagle Mountain Crest DD3 Nebula Kensington Fortress Value DFB Healthcare Churchill Roth CH Live Oak Switchback Thunder Bridge Social Capital Social Capital Collier Creek Gores SPAC Acquisition Acquisition Acquisition Acquisition Capital Acquisition Acquisition Capital Acquisition I Acquisition Energy Acquisition, Hedosophia Hedosophia Holdings Metropoulos Corporation Corporation Corporation Corporation* Acquisition Corporation Corporation Corporation Company Corporation Acquisition Limited Holdings Holdings Pro Forma $2,700 $413 $366 $1,080 $3,300 $1,044 $1,561 $1,041 $4,249 $826 $525 $2,401 $663 $2,900 $1,500 $4,768 EV($mm) Close Date 4/23/2020 2/10/2021 3/13/2020 6/10/2020 11/25/2020 11/13/2020 8/28/2020 11/8/2019 5/13/2019 3/16/2021 12/29/2020 2/26/2021 7/11/2019 12/2/2020 10/25/2019 12/17/2020

*The stock prices shown are as of 4/30/2021 and should not be relied upon as current thereafter. **Source: S&P Capital IQ and Dealogic Page 10 Driven by your success. **Does not include warrant value Driven by your success. • A SPAC is a publicly-listed acquisition vehicle whereby a sponsor team raises a blind pool of cash to pursue and complete a business combination with a private operating company

– Usually sponsored by industry experts in partnership with capital markets expertise

– SPACs typically have 18 to 24 months to complete a transaction

• Investors purchase a $10.00 unit that includes a common share and fractional warrant. SPAC shares can be sold at any time once the IPO has priced.

• 100% of the capital is put into a trust and the vehicle is publicly traded. Upon a business combination, SPAC investors have the option to invest in the new operating company or redeem their common shares for their pro-rata share of cash in trust.

• SPACs have been successfully utilized for operating companies to IPO, pursue roll-up strategies, de-lever balance sheets, relist existing securities, and raise necessary

• Majority of SPACs have at least $100 million in trust with some exceeding $1 billion

– SPACs typically acquire minority stakes in businesses, often 20 – 30% of total enterprise value

Private operating Publicly listed Publicly listed successor with company with acquisition vehicle shared ownership from new and attractive growth and with cash in trust existing shareholders financial profile

Page 12 Driven by your success. Benefits of SPAC Benefits Going Public ⚫ Transaction often priced at premium valuation Premium ⚫ Negotiated during LOI stage, confirmed through diligence Valuation ⚫ Known and publicly announced at time of executing definitive agreement for QT ✓ Access to capital ⚫ SPACs have become increasingly mainstream and Premier institutionalized Incentive for Sponsorship ⚫ Recent SPACs have been raised by premier sponsors and ✓ employees/management supported by premier institutional investors

⚫ Capital pre-funded, substantial diligence and support confirmed prior to QT announcement Platform for acquisitions Relative ✓ Certainty of ⚫ Any additional funds raised are marketed as private placement Funds prior to QT announcement ⚫ Redemption risk should be manageable Transparent governance ✓ ⚫ Four-week upfront diligence, valuation and documentation Expedient before public announcement and Efficient Process ⚫ Three-month SEC review period and marketing prior to close; Access for investment to broad prospectus can leverage SPAC’s S-1 ✓ public (not just VC investors) Relatively ⚫ Plain vanilla common shares Simple ⚫ Flexibility around raising additional funds and assuming / raising Structure debt capital

Page 13 Driven by your success. Pick the Right SPAC Sponsor: Although the structure of SPACs are all relatively similar, it is important to select a SPAC that is backed by investors focused on your space and are aligned with your long-term business goals and vision

The PIPE: Concurrent PIPE is an important part of the overall SPAC transaction. Availability of SPAC funds held in trust is not always certain, so the PIPE provides protection against

Projections Will be Public: Unlike with IPOs, the target company in a SPAC transaction will often provide its financial projections directly to potential investors, which will then become publicly available once the transaction is announced

Valuation Certainty and Market Risk: In a SPAC, the target’s value is negotiated prior to announcement, and will generally stay at the set amount until the transaction is completed

Public Readiness: Companies that go public via a SPAC are still subject to many of the same regulatory requirements as an IPO, including internal controls and procedures, PCAOB audited financials, and public listing and governance requirements, among others

SEC Review: Although the SPAC process is faster than an IPO, companies are still subject to the same SEC scrutiny and should still be prepared for a thorough review cycle

Lock-up Agreements: A thoughtful approach must be taken when negotiating lock-up agreements to ensure interests are aligned between SPAC sponsors, PIPE investors, and target company holders

Shareholder Support: Following announcement of the transaction, both SPAC and target company shareholders must vote in favor of the transactions, and the offer of redemption must be provided to SPAC shareholders

Source: “10 Key Considerations for Going Public with a SPAC”, Cooley LLC Page 14 Driven by your success. • IPO marketed to institutional investors – • Once a target is identified and diligence • Between announcement and closing, the SPAC IPOs have a particular niche of complete, a SPAC will negotiate and SPAC will educate the market on the buyers focused on the SPAC arbitrage prepare to sign a definitive agreement combination, attempting to minimize redemptions • Buyers receive one unit @ $10.00; unit • In the meantime, the SPAC can look to includes one share of common stock + a raise additional funds via a PIPE • Once the SPAC obtains to necessary warrant (1/2, 1/3, full) shareholder approvals, it will proceed to • The PIPE provides additional closing • Units begin trading upon pricing/ S-1 capitalization, as well as signaling a declared effective and close T+2 positive reception from institutional • Post-closing, the SPAC entity begins investors trading under its new name and ticker • The capital raised is put into a third-party reflecting the De-SPAC’d business trust to ensure the SPAC has funds • The acquisition and concurrent PIPE are needed to acquire an attractive business announced once the DA and investor subscription agreements are signed • Shareholders have the right to “redeem” their shares at various points, which • Closing typically takes three to four would decrease cash available months

• Units separate into individually traded common shares and warrants after 45 QT Closing / days Announce De-SPAC Qualifying SPAC IPO Transaction

Page 15 Driven by your success. PREP & SUBMISSION of S-1 SEC REVIEW ROADSHOW PRICING / TRADING

Weeks 1 -3 Weeks 4 - 7 Weeks 8 - 11 Weeks 12 - 13

● Entity formation ● Draft exhibits to S-1 ● 1st round comments from SEC ● Receive SEC, FINRA and ● Prepare initial draft S-1 ● Prepare roadshow presentation ● Finalize selection of directors exchange approvals ● Select officers and directors ● Determine timing of test-the- and committees ● Obtain auditor comfort letter and legal opinions from counsel ● Select auditor, bookkeeper water (TTW) meetings ● File S-1 amendment if ready advisor, and counsel ● Engage and coordinate with (triggers 15-day waiting period) ● Execute underwriting agreement ● Due diligence and background transfer agent ● TTW meetings checks ● Exchange correspondence ● Prepare for roadshow, ● Pricing of IPO ● Corporate housekeeping ● Fund escrow for sponsor risk effectiveness and listing ● Section 16 filings nd ● Generate initial audit report capital ● 2 round comments from SEC ● Issue press release ● Confidential filing of S-1 with ● Launch roadshow ● Closing of IPO & SEC Announcement ● Submit exchange listing and ● File Form 8-K’s with the SEC FINRA applications

Page 16 Driven by your success. • While the time required for due diligence, financing and documentation can vary, once a deal is announced, the proxy filed with the SEC determines the time to close, which typically takes 3 months – Upon signing a definitive agreement, the qualifying transaction is announced, and a preliminary prospectus is filed shortly thereafter – Support for the transaction will be solicited prior to the redemption deadline

T = Qualifying Transaction Announcement Week Number: T-5 T-4 T-3 T-2 T-1 T T+1 T+2 T+3 T+4-8 T+9-10 T+11-12

Pre-Definitive Timeline

Negotiate LOI / Due Diligence

Market Private Placement

Finalize and Sign Definitive Agreement

QT Announcement

Announce Qualifying Transaction

Draft and File Non-Offering Preliminary Prospectus

Market to Existing Investors to Solicit Support for QT

SEC Review & Comments

Shareholder Meeting

Shareholder Vote & Redemption Deadline

Closing of QT and Private Placement

Page 17 Driven by your success. A PIPE can be completed over a 3-4week window. The PIPE Overview of a SPAC PIPE provides the SPAC and its target with additional funds to increase deal certainty AND an opportunity to market the • All SPAC business combinations carry deal risk given the new story to fundamental buyers in the target acquisition’s potential for shareholder redemptions ahead of the de- sector. SPAC • SPACs need to ensure sufficient capital to acquire the PIPE TIMELINE identified target and satisfy minimum cash requirements set forth in many merger agreements ⚫ Finalize deal documents/ materials (Presentation, NDA, data room, etc.) • A successful PIPE lessens the risk of the SPAC falling short Week 1 ⚫ Prepare a list of investor targets of necessary capital needed to close the transaction ⚫ Begin outreach • Just as important, the institutional funds targeted in the PIPE are fundamental investors, and their participation ⚫ Hold 1x1 investor meetings signals a positive reaction to the qualifying transaction ⚫ Follow-up includes getting investors under NDA, Week 2 data room, etc. • While the up-front IPO is driven by traditional SPAC players, ⚫ Begin to socialize deal size, structure, timing the PIPE targets mutual funds or long-term investors with a focus on the target company’s space ⚫ Identify potential lead investors ⚫ Negotiate terms and draft into a subscription • During the PIPE’s marketing, information shared is limited to Week 3 agreement what will be disclosed on announcement ⚫ Follow-up w/ other investors to fill out demand • Investors may decide to take an introductory meeting ⚫ Provide investors with final subscription agreement before going under NDA – once under NDA, the investor to complete & return would have access to a data room containing details on the Week 4 ⚫ Once business combination is ready to be announced, provide investors funding instructions merger, projections, etc. to close

Page 18 Driven by your success. • On April 12, 2021, the SEC issued a new Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (SPACs)

• U.S. Generally Accepted Accounting Principles (GAAP) include guidance that entities must consider in determining whether warrants that settle in an entity’s own stock should be classified as equity of the entity or as an asset or liability

• While SPACs have typically classified warrants on their balance sheets as equity, under certain circumstances, the SEC has highlighted that GAAP would require certain warrants to be classified as a liability and measured at fair value every quarter, with changes in fair value reported in earnings

• SPACs that have misclassified their warrants as equity may be required to restate their financial results if the impact is deemed material

If determined with your auditor that Talk to auditor to determine if the the warrants were misclassified as current accounting treatment of equity, obtain an independent warrants issued in connection with On a prospective basis every valuation for the IPO date and QT Closing / SPACs formation and initial quarter, estimate the fair value of subsequent quarter ends; then, registered offering is appropriate in Announce theDe warrant-SPAC liability discuss with auditor appropriate light of the new SEC Staff Qualifying changes to previously issued Statement SPAC IPO financialTransaction statements

Source: SEC, Duff & Phelps www.sec.gov/news/public-statement/accounting-reporting-warrants-issued-spacs Page 19 Driven by your success. Recent Qualifications & Credentials

Driven by your success. Overview Global presence • Operations in Canada, the US, the UK & Europe, the Middle East and Asia Pacific and capabilities to list companies on 10 stock

exchanges worldwide Montreal Calgary Dublin London • Toronto Comprehensive coverage of the major growth equity buyers – Vancouver Boston Paris Beijing Nashville New York regardless of geography Washington, DC • San Francisco Global wealth management businesses entrusted with C$85.2 billion in Dubai Hong Kong client assets1 Singapore • Committed to further development in key markets and sectors successfully acquired and integrated six companies in the last ten years Perth • Strong balance sheet with C$584 million working capital1 Sydney Melbourne

Smaller locations not shown

Investment Banking Equity Research Sales and Trading Global Wealth Management • 236 investment bankers • 124 research professionals • Equities and Fixed Income • C$85.2 in client assets1 globally • Broad industry coverage across • 155 sales and trading • Over 450 investment advisors • Fiscal 2021 9M YTD: Led and core sectors professionals and professionals globally1 participated in 475 transactions • ~900 companies covered • 6 fixed income professionals • Wealth management offices globally, raising over C$54.6 • Quest® – proprietary online • Active relationships with 2,260+ across Canada, UK, Guernsey, billion for clients2 valuation and analysis tool with institutions globally Isle of Man, Jersey and Australia 95% global coverage • Market making • On and offshore client services • ~2,500 companies • 10 exchanges

1. At September 30, 2020 2. At September 30, 2020. Equity offerings >$1.5 million Page 21 Driven by your success. *All dollar amounts in Canadian dollars unless otherwise indicated US ECM CDN ECM UK ECM Global Leadership Team

Jen Pardi Ron Sedran Daniel Daviau Jeff Barlow Pat Burke Sam Lucas Global Head of Head of Canadian President & CEO President, President, Head of European ECM ECM Canaccord US Canaccord Canada ECM

Brian O’Connor Len Sauer Marcus Freeman Nick Russell Mark Whaling Managing Director Managing Director CEO, Australia & CEO, Canaccord Global Head of ECM ECM Asia-Pacific Europe Securities

Tom Gabel Managing Director ECM Senior CDN Team Senior UK Team Asia-Pacific and Middle East

Jason Melbourne Simon Bridges Duncan St John Shachar Familia Tara Hartigan Global Head Head of European Executive Director, Senior Advisor Managing Director Distribution Investment Corporate Finance (Israel) ECM Banking (Australia)

Chris Blackwell George Fleet Jeremy Dunlop Sachin Mahajan Head of Canadian Head of European Executive Director, Managing Director US Product Partners Investment M&A Corporate Finance (Dubai & India) Banking (Australia) Isaiah Knouff Coverage Industry-Focused Banking Team with SPAC Experience Amy LaBan, CFA Financial Sponsor Jeff Barlow Dan Coyne Sanjay Chadda Jason Partenza Tom Pollard Coverage Life Sciences, Sustainability, Technology, Technology & Gaming, Cannabis, Boston Boston New York New York New York

Mike Shuh Steve Winokur Malcolm Inglis Financial Institutions, Cannabis, Financial Institutions, Toronto Toronto Toronto

Page 22 Driven by your success. Total Roles Lead Manager Co-Manager Bank Rank Total Value No. Rank No. Rank No. ($M)

Goldman Sachs 1 975,852.4 1,394 1 1,366 76 28 JPMorgan 2 860,370.5 1,365 2 1,329 65 36 Morgan Stanley 3 918,642.8 1,352 3 1,306 52 46 BofA Securities 4 795,371.7 1,123 4 1,082 57 41 Citi 5 746,506.8 1,081 5 1,040 57 41 Canaccord Genuity Corp 6 108,059.0 999 7 750 2 249 Credit Suisse 7 530,306.0 866 6 826 59 40 UBS 8 405,838.3 637 8 607 72 30 Barclays 9 438,683.3 632 10 579 48 54 Stifel 10 190,505.3 619 12 396 3 223

$515,775,000 $100,912,500 $151,340,000 $122,500,000 $1,100,000,000 $140,800,000 $59,512,500 $186,300,000 IPO Follow-On Offering IPO Follow-On Offering Notes Offering Follow-On Offering Follow-On Offering US IPO Passive Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Passive Bookrunner Passive Bookrunner Joint Bookrunner Joint Bookrunner April 2021 April 2021 April 2021 March 2021 March 2021 March 2021 March 2021 February 2021

Source: Dealogic as of 5/6/2021 Includes all IPO, FO, & CONV Page 23 Driven by your success. Transactions and Case Studies

Driven by your success. Canaccord SPAC Stats Pending Pending Pending April 2021 February 2021

▪ Advisor on seven recent US SPAC qualifying (BCTG) $550,000,000 $1,600,000,000 $1,100,000,000 $422,000,000 transactions Financial Advisor on Financial Advisor on Financial Advisor on Financial Advisor on $230,000,000 merger w/ merger w/ merger with merger with ▪ Sponsor and sole bookrunner on $207M IPO Joint Bookrunner for Environmental Impact February 2021 January 2021 December 2020 December 2020 November 2020 ▪ Joint bookrunner on $230M IPO for Velocity

▪ 11 CDN-listed SPAC IPOs raising over $2B; $1,100,000,000 $205,000,000 $285,000,000 Financial Advisor on Financial Advisor on Financial Advisor on US$172,500,000 $207,000,000 nine have announced/ closed on QTs merger with merger w/ merger w/ Initial Public Offering Initial Public Offering ▪ CG SPAC pipeline remains robust with our Sole Bookrunner Sole Bookrunner team advising private companies and SPACs August 2020 February 2020 December 2019 August 2019 August 2019 in the Life Sciences, Technology and NextPoint Sustainability sectors, in particular Acquisition Corp. Real Estate Acquisition REIT LP US$200,000,000 US$120,000,000 US$225,000,000 US$360,000,000 C$100,000,000 Initial Public Offering Initial Public Offering Initial Public Offering Initial Public Offering Initial Public Offering Sole Bookrunner Sole Bookrunner Lead Bookrunner Lead Bookrunner Lead Bookrunner

July 2019 May 2019 September 2018 December 2017 July 2017

Mercer Park Brand CSAC Cannabis Strategies Acquisition Corp. Acquisition Corp.

US$575,000,000 US$403,000,000 C$46,000,000 C$135,000,000 C$30,000,000 Initial Public Offering Initial Public Offering Initial Public Offering Initial Public Offering Initial Public Offering Sole Bookrunner Sole Bookrunner Lead Bookrunner Sole Bookrunner Lead Bookrunner

Source: Dealogic, Filings, and CG ECM. Page 25 Driven by your success. De-SPAC / Public Initial Public Offerings Merger Advisory Offerings

Velocity Acquisition Corp. (BCTG) $230,000,000 $207,000,000 $550,000,000 $1,600,000,000 $266,000,000 $1,913,600,000 Financial Advisor on Initial Public Offering Initial Public Offering Financial Advisor on Equity Offering Equity Offering merger with merger with Joint Bookrunner Sole Bookrunner Co-Manager Bookrunner

February 2021 January 2021 Pending Pending December 2020 October 2020

NextPoint Acquisition Corp. $422 million $200,000,000 $120,000,000 $1.1 billion $184,000,000 $1,840,000,000 Financial Advisor Financial Advisor on Initial Public Offering Initial Public Offering on merger with merger with Equity Offering Equity Offering

Sole Bookrunner Sole Bookrunner Co-Manager Co-Manager

August 2020 February 2020 April 2021 December 2020 May 2020 June 2020 Selected Research Coverage of De-SPAC Tech Stocks

Page 26 Driven by your success. Identify and Execute Qualifying Transaction Attract PIPE Investors Once Deal is Identified

⚫ CG can leverage decades of industry experience and ⚫ Successful PIPE attracts key fundamental investors and expertise in M&A to help identify and transact with a target lessens the risk of a cash shortfall at closing ⚫ Based on our recent SPAC experience, we understand the ⚫ CG is ready to assist in optimizing the story for PIPE criteria that will resonate with PIPE & public market investors investors and managing a successful raise

❑ Sample PIPE Investors Large & Growing Multi-billion dollar TAM ❑ AWM Special Market Strong secular trends Situations Opportunity ❑ Alignment with market

Proven ❑ Commercialization or validation Technology & ❑ High barriers to entry Competitive Advantage ❑ Compelling value proposition

❑ Exceptional Team Strong industry experience with Strong ❑ Proven track record Credentials ❑ Public-company ready

❑ Scaling to $1B+ in revenue Highly Scalable ❑ Key milestone achievements Business Model ❑ Attractive margin profile

Page 27 Driven by your success. Roadshow Overview • 2 days of TTW meetings; 20 meetings • 1 day of virtual marketing • 6 1x1 virtual meetings • 1 group investor webcast • Launched w/ base covered on reverse inquiries from TTW; priced on 1 day of $230,000,000 marketing

Initial Public Offering Final Message Joint Bookrunner • The Velocity IPO finished approaching 15x over-subscribed. High-quality, fundamental investor interest. The final book had ~250 indications of interest February 2021 from institutions. Concentrated allocations – top 25 took ~70%.

Top Institutional Participants Base Terms Unit price: $10.00 Units Offered: 23,000,000 Unit Structure: One share Class A common stock / one-third of one redeemable warrant Warrant Strike: $11.50 Offer/ 1 Day: +2.3%

Page 28 Driven by your success. Roadshow Overview • 18 TTW meetings • 3 days of virtual marketing • 17 1x1 virtual meetings • 1 group investor webcast w/ over 40 institutional participants $207,000,000 Final Message Initial Public Offering • Environmental Impact Acquisition Corp. (Nasdaq: ENVIU) priced an upsized deal of $180M + $27M shoe (total proceeds of $207M). The final book finished 5x Sole Bookrunner oversubscribed. Allocations were skewed towards long ESG-focused investors. January 2021

Top Institutional Participants Base Terms Unit price: $10.00 Units Offered: 20,700,000 Unit Structure: One share Class A common stock / one-half of one redeemable warrant Warrant Strike: $11.50 Offer/ 1 Day: +7.3%

Page 29 Driven by your success. Process Summary Announced ⚫ Privately held, venture-backed business seeking growth capital to fuel the Company’s next phase of growth and product development ⚫ Given BARK’s strong brand and the momentum in SPAC market, CG efficiently navigated a process that culminated in an announced merger on a very accelerated timeline Financial Advisor on ⚫ Transaction includes an upsized $200 million fully committed PIPE priced at $10 / share backed by new reverse merger with top-tier institutional investors, including Fidelity Management & Research Company LLC, Senator Investment Group, the Federated Hermes Kaufmann Funds, and affiliates of the Santo Domingo Group

⚫ Merger values BARK at an implied $1.6 billion pro forma enterprise value and the combined company expects to receive approximately $454 million in gross proceeds of cash at closing

⚫ Following completion of the transaction in Q2 2021, existing BARK shareholders will make up 74% BARK Overview ownership of the new business, while SPAC and PIPE investors will account for 26%

Financial Projections & Pro-Forma Valuation ⚫ BARK a leading global omni-channel brand for dogs Implied Enterprise Value: $1.6B ⚫ The Company's current offerings Revenue $706 include BarkBox, its, customized, $516 internally designed and sourced, and $369 3.5x cleverly themed monthly box of toys $191 $224 2021 EV / $149 Revenue and treats, Super Chewer (highly durable rubber toys), BARK Home 2.5 (everyday products), BARK Bright FY2018A FY2019A FY2020A FY2021E FY2022E FY2023E 2022 EV / Revenue (dental, health and wellness), and BARK Eats (personalized food blend service) Gross Profit $413 5.9x $301 Northern Star Overview 2021 EV / $221 GP $135 $84 $107 ⚫ Northern Star Acquisition Corp. (NYSE: 4.2x STIC.U), a publicly traded special 2022 EV / purpose acquisition company FY2018A FY2019A FY2020A FY2021E FY2022E FY2023E GP

Source: CapIQ as of 9/21/20. . Page 30 Driven by your success. Process Summary Announced ⚫ Privately held, venture-backed business seeking developmental capital to fuel the Company’s next phase of growth and path to profitability ⚫ Given strong momentum in SPAC market, CG quickly began soft outreach to potential SPAC partners − From initial outreach in mid-June, CG operated under an accelerated timeline, obtaining a signed LOI Financial Advisor on from Pivotal in early August and announcing the transaction publicly in on September 18th reverse merger with ⚫ Transaction includes an upsized $150 million fully committed PIPE priced at $10 / share backed by new and existing strategic and institutional investors

⚫ Merger values XL at an implied $1.1 billion pro forma enterprise value and the combined company expects to receive approximately $350 million in proceeds of cash at closing

⚫ Following completion of the transaction in Q4 2020, existing XL shareholders will make up 70% ownership XL Fleet Overview of the new business, while SPAC and PIPE investors will account for 30% ⚫ XL Fleet is a leading provider of vehicle (1) electrification solutions for Financial Projections & Pro-Forma Valuation Share Performance commercial and municipal fleets in Implied Enterprise Value: $1.1B $14 25 North America Volume in Millions Price ($) ⚫ Proven, proprietary technology and Revenue $1,377 electrified driven systems work $1,500 1.7x $13 PIC shares increased 26% 20 seamlessly across a wide range of following announcement $1,000 2023 EV / vehicle classes and types $648 Revenue $12 15 $500 $281 Trading volume of 19 million ⚫ 130+ million miles driven by customers $21 $75 0.8x shares on date of to date, including FedEx, Coca-Cola, $- 2024 EV / announcement Verizon and other blue-chip 2020 2021 2022 2023 2024 Revenue $11 10 companies, municipalities and EBITDA institutions $500 $308 9.3x $10 5 Pivotal Overview $300 2023 EV / $117 EBITDA $100 $31 ⚫ Pivotal Investment Corporation II (NYSE: 3.5x $9 0 PIC) is a publicly traded special purpose $(100) $(10) $(15) 2024 EV / acquisition company 2020 2021 2022 2023 2024 EBITDA

Source: CapIQ as of 9/21/20. Past performance is not a guarantee of future results Page 31 Driven by your success.

. Process Summary December 2020 ⚫ Canaccord acted as financial advisor to SAMA in their business combination with Clever Leaves

⚫ SAMA completed its $130M Nasdaq IPO in December 2018

⚫ On June 1, 2020, SAMA announced it had entered into a non-binding letter of intent to merge with Clever Financial Advisor on Leaves business combination w/ ⚫ The definitive agreement was signed on July 27th , and the transaction was completed on December 18th

⚫ The merger carried a $205M pro forma enterprise value with a minimum cash condition of $26M – that amount was covered via a $10M PIPE , plus an additional $16M in committed capital from SAMA holders who agreed not to redeem

⚫ Clever Leaves shareholders rolled over more than 97% of their equity ownership, and earnout up to 1.4M shares Clever Leaves Overview ⚫ Combined company listed on the Nasdaq under “CLVR” $12.75 last trade before closing; ⚫ Leader in Low-Cost, Medicinal- (1) +25% from 6/1 announcement Focused Cannabis Cultivation and YTD Share Performance

Extraction $14.00 6/1 Non-Binding Announcement 9.000mm 1 ⚫ Thoughtfully Constructed, Vertically +5% on 8.2M shares 8.000mm Integrated Multi-National Operator $13.00 (MNO) With Significant Infrastructure 7.000mm 11/30 Registration Effectiveness ⚫ Pharmaceutical-Grade EU GMP- +18% on 5M shares 3 6.000mm Certified Production Authorized for $12.00 Export 5.000mm ⚫ Talented and Experienced Leadership 4.000mm with Operational and Regulatory $11.00 7/27 Definitive Agreement Expertise 2 3.000mm 2.000mm SAMA Overview $10.00

⚫ Schultze Special Purpose Acquisition 1.000mm Corp. (NASDAQ: SAMA) is a publicly traded special purpose acquisition $9.00 0.000mm company

Source: CapIQ as of 12/18/20. Past performance is not a guarantee of future results Page 32 Driven by your success. . Situation • Onyx (nka PARTS iD) is a technology-driven, digital commerce company focused on creating custom infrastructure and unique user experiences within niche markets. It is the owner and operator of, among other verticals, “CARiD.com,” a leading digital commerce platform for the automotive aftermarket. PARTS iD’s unique model features proprietary fitment data, unmatched breadth of offerings, and has completed a business enhanced fulfillment capabilities, providing consumers with a rewarding and accurate discovery combination with experience in a traditionally complex market • The company engaged Canaccord Genuity to evaluate inbound interest, as well as other strategic alternatives Process November 2020 • Canaccord Genuity assisted Onyx in assessing and progressing inbound interest, while simultaneously preparing marketing materials in support of a broad outreach process focused on both strategic and financial counterparties • Canaccord Genuity canvassed the market, engaging 54 strategic and 44 financial parties, which resulted in several indications of interest • Legacy identified Onyx as an exceptional fit for their mandate and an LOI was signed within nine days of executing an NDA and sharing its marketing materials Results • Legacy’s offer represented a premium valuation, coupled with certainty of close, relative to competing bids • Canaccord Genuity navigated a rapid due diligence and closing process that was conducted 100% virtually, due to COVID • PARTS iD is ideally positioned to capitalize on the surge in eCommerce adoption, and this transaction helps strengthen the Company’s foundation for growth within its core automotive category as well as other complex, multidimensional parts and accessories markets

Page 33 Driven by your success. Updated Transaction Activity – Recent Listings and Deal Announcements

Driven by your success. Trade Base Value Warrant QA Term Offer/ 1 Offer/ Company Ticker Target Sector Last Sale Offer/ 1 Day Date ($M) Coverage (Mo). Week Current

4/29 ION Acquisition Corp 3 Ltd. IACC Tech - Israel $220.0 0 24 $ 10.00 0.0% N/A 0.0% 4/29 Big Sky Growth Partners, Inc. BSKY.U Internet Retail & DTC $300.0 1/4 24 $ 10.00 (0.4%) N/A 0.0% 4/28 TradeUP Global Corporation TUGC.U General/ Broad $40.0 1/2 18 $ 9.83 0.0% N/A (1.7%) 4/14 TPG Pace Beneficial II Corp. YTPG FinTech $350.0 0 24 $ 10.10 1.1% 1.6% 1.0% 4/14 TCV Acquisition Corp. TCVA ESG, Tech $350.0 0 24 $ 10.46 6.0% 4.9% 4.6% 4/9 Global SPAC Partners Co. GLSP.U Infrastructure, Utility $160.0 1/2 12 $ 9.97 (0.6%) 0.0% (0.3%) 4/9 Aldel Financial Inc. ADF.U Distressed $100.0 1/2 18 $ 10.00 (0.1%) 0.2% 0.0% 4/9 Tio Tech A TIOA.U Technology - Europe $300.0 1/3 24 $ 9.99 0.0% 0.0% (0.1%) 4/9 TPG Pace Solutions Corp. TPGS ESG, Tech $250.0 0 24 $ 10.15 1.1% 1.4% 1.5% 4/8 Model Performance Acquisition Corp. MPAC.U Asia $50.0 1/2 12 $ 10.20 0.5% 1.6% 2.0% 4/7 CM Life Sciences III Inc. CMLT.U Life Sciences $480.0 1/5 24 $ 10.84 11.9% 10.7% 8.4% 4/7 Panacea Acquisition Corp. II PANA Biotech $150.0 0 24 $ 10.04 0.0% (0.3%) 0.4% 4/6 Ace Global Business Acquisition Limited ACBA.U E- Commerce & Gaming - Asia $40.0 1 12 $ 10.16 0.7% 1.6% 1.6%

Source: SPAC Insider., Dealogic, CapitalIQ, & Company filings as of 4/30/21. Red = reduced deal size/ increased warrants; Green = increased deal size/ reduced warrants. Page 35 Driven by your success. Def Agree Pro Forma IPO/ IPO/ Ann./ 1 Day/ Ann./ SPAC Name Ticker Target Company Target Sector IPO Date IPO Value PIPE Date EV Ann. Current 1 Day Current Current ($M) ($M) ($M)

4/30 Gores Metropoulos II, Inc. GMII Sonder Consumer 1/20/21 $400.0 $2,200.0 $200.0 (0.6%) 0.0% 0.6% 0.0% 0.6% 4/28 Marquee Raine Acquisition Corp. MRAC Enjoy Technology Technology 12/15/20 $325.0 $1,180.0 $80.0 (0.8%) (1.0%) (0.3%) 0.1% (0.2%) 4/28 Galileo Acquisition Corp. GLEO Shapeways Technology 10/18/19 $120.0 $410.0 $75.0 0.7% 1.6% (0.5%) 1.4% 0.9% 4/27 Blue Water Acquisition Corp. BLUW Clarus Therapeutics Healthcare 12/15/20 $50.0 $215.9 $25.0 5.7% 0.4% 1.0% (6.0%) (5.0%) 4/25 Sports Entertainment Acquisition Corp. SEAH Super Group Technology 10/2/20 $400.0 $4,643.0 N/A (2.2%) 2.9% 4.5% 0.7% 5.2% 4/22 Fifth Wall Acquisition Corp. I FWAA SmartRent Real Estate 2/5/21 $300.0 $1,660.0 $155.0 2.3% 7.7% 1.6% 3.7% 5.3% 4/22 Horizon Acquisition Corporation HZAC Vivid Seats Consumer 8/21/20 $500.0 $2,059.0 $225.0 (2.0%) (0.4%) 3.3% (1.5%) 1.7% 4/19 Roman DBDR Tech Acquisition Corp. DBDR CompoSecure FinTech 11/6/20 $220.0 $1,206.0 $175.0 0.9% 1.2% 0.2% 0.1% 0.3% 4/15 Consonance-HFW Acquisition Corp. CHFW Surrozen Healthcare 11/19/20 $80.0 $203.3 $120.0 (1.2%) (1.0%) (0.3%) 0.5% 0.2% 4/15 D8 Holdings Corp. DEH Vicarious Surgical Healthcare 7/15/20 $300.0 $1,119.0 $115.0 (0.2%) (0.7%) 0.9% (1.4%) (0.6%) 4/14 Roth CH Acquisition II Co. ROCC Reservoir Holdings Media 12/11/20 $100.0 $788.0 $150.0 (0.4%) 7.3% 1.0% 6.7% 7.7% 4/14 BCTG Acquisition Corp. BCTG Tango Therapeutics Healthcare 9/3/20 $145.0 $550.0 $186.0 12.1% 15.4% 7.9% (4.6%) 2.9% 4/13 Altimeter Growth Corp. AGC Grab Technology 10/1/20 $450.0 $31,265.0 $4,000.0 39.5% 32.4% 9.9% (13.7%) (5.1%) 4/8 TWC Tech Holdings II Corp. TWCT Cellebrite Technology 9/11/20 $525.0 $1,811.0 $300.0 0.2% (0.9%) (0.1%) (0.9%) (1.0%) 4/7 CA Healthcare Acquisition Corp. CAHC LumiraDx Healthcare 1/27/21 $100.0 $5,000.0 $400.0 (3.0%) (1.4%) 3.1% (1.4%) 1.6% 4/7 Mountain Crest Acquisition Corp. II MCAD Better Therapeutics Healthcare 1/8/21 $50.0 $187.0 $50.0 3.2% (0.8%) 2.9% (6.6%) (3.9%) 4/7 Rice Acquisition Corp. RICE Archaea Energy Energy 10/22/20 $215.0 $1,148.0 $300.0 1.0% 56.5% 51.7% 2.2% 55.0% 4/6 Rotor Acquisition Corp. ROT Sarcos Robotics Industrials 1/15/21 $240.0 $1,314.0 $220.0 (2.3%) (0.8%) 1.6% (0.1%) 1.5%

Source: SPAC Insider., Dealogic, CapitalIQ, & Company filings as of 4/30/21. Page 36 Driven by your success. This material is provided for information purposes only and is intended for distribution in those jurisdictions where subsidiaries of Canaccord Genuity Group Inc. (together, “Canaccord Genuity”) are registered as advisors or dealers in securities. Any distribution or dissemination of this material in any other jurisdiction is strictly prohibited. The information does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not authorized, or to any person to whom it is unlawful to make such an offer or solicitation. This is not, and under no circumstances should be construed as, a solicitation to act as a securities broker or dealer in any jurisdiction by any person or company that is not legally permitted to carry on the business of a securities broker or dealer in that jurisdiction. This material is prepared for general circulation to clients and does not have regard to the investment objectives, financial situation or particular needs to any person. Clients should obtain advice based on their own individual circumstances before making an investment decision. Any client wishing to effect any transactions should do so through a Canaccord Genuity qualified salesperson in their jurisdiction of residence.

The information contained herein has been compiled by Canaccord Genuity from sources believed to be reliable, but no representation or warranty, express or implied, is made by Canaccord Genuity or any other person to its fairness, accuracy, completeness or correctness. To the fullest extent permitted by law, neither Canaccord Genuity nor any other person accepts any liability whatsoever for any direct or consequential loss arising from any use of the information contained herein.

All material presented in this document, unless specifically indicated otherwise, is under trademark and copyright to Canaccord Genuity. None of the material, or its content, or any copy of it may be altered in any way, or transmitted to or distributed to any other party, without the prior express written permission of Canaccord Genuity.

Copyright©Canaccord GenuityCorp. 2021. –Member IIROC/Canadian Investor Protection Fund Copyright©Canaccord Genuity Limited 2021. –Member of the London Stock Exchange, authorized and regulated by the Financial Conduct Authority. Copyright©Canaccord Genuity LLC 2021. –Member FINRA/SIPC Copyright©Canaccord Genuity (Australia) Limited 2021. – Authorized and regulated by ASIC.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This document may contain certain “forward-looking information” (as defined under applicable securities laws). These statements relate to future events or future performance and include management’s expectations, beliefs, plans, estimates, intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts, business and economic conditions and Canaccord Genuity Group LLC’s (the “Company”) growth, results of operations, market position, ability to compete and future financial or operating performance of the Company, performance and business prospects and opportunities. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. In some cases, forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue”, “target”, “intend”, “could” or the negative of these terms or other comparable terminology. By its very nature, forward-looking information involves inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking information. In evaluating these statements, readers should specifically consider various factors, which may cause actual results to differ materially from any forward-looking statement. These factors include, but are not limited to, market and general economic conditions, the nature of the financial services industry, the risks and uncertainties discussed from time to time in the Company’s interim and annual consolidated financial statements and its Annual Information Form filed on www.sedar.com. Readers are cautioned that the preceding list of material factors or assumptions is not exhaustive. Except as may be required by applicable law, the Company does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking information, whether as a result of new information, future developments or otherwise.

Page 37 Driven by your success.