WealthTech Report Q1 2024

DRAKESTAR WEALTHTECHREPORT APRIL2024 WV.DRAKESTAR.CCM OURKEVTAKEAWAYSONTHEWEALTHTECHMARKET reboundinQ42o23,butarestilllaggingvs.some InQ12o24,investorsshiftedtheirfocusonearly-stagecompanies,with fundraisinglevels stagecompanies Strategicbuyersaccountedformorethan7o%oftotalWealthTechM&Adealsin Q12024 InQ12024,averageM&Adealvaluereached$145mvs.$98min2023 highlightingacquirersfocusonmoremature InQ12024,WealthTechaccountedfor8.0%oftotalFinTechM&Aactivitywith78 deals in2023 In2o24,thefragmentedwealthTechmarketisexpectedtocontinuetoincrease itsconsolidationdrivenfurtherdigitalizationof playersandchanging regulation *DRAKESTAR * wwr.."r..m "VWeaithTeci for their HoweverpanefistsattheGfobafWeafthTechSummitwarnagainst Ar anddataprivacy.Humansremain aneinterfaeiscjentsanheresuitsofAf becomeablackbox.butratherneedstobe iscloseoys.c;(ot/ecieni.s." DRAKESTAR'SPARTNER.SAMLEVYATTENDED GLOBALWEALTHTECHSUMMIT SAMLEVY 格DRAKESTAR WEALTHTECHSTOCKSEXPERIENCEDASTRONGRECOVERYATTHEENDOR 2O23CONTNUNGINTO2O24BUTARELAGGINGVS.OTHERENTECHVERTICALS LTMnSharePriceDevelopment 53.0348.6% 43,* 34.7% 25.7% 20.0% 24.0% 3,> 3,) % SENaalt-TerrC.oreF#nk'ngyTer- SGX WEALTHTECH CDREBANKING&LENDING kam22AC aff AUpstart OppXmbgnaurblend MonkyLion nexi13 AC!Wre BIGTECH G Tencent ATAPULTAlfd I2ILendingCiub lendingtree PAR 0oMeta amazon ,enovaSoFiilndno Oto stone SAMSUNG +DRAKESTAR VALUATIONSOELEADNGWEALTHTECHSHAVEEXPERIENCEDASTRONGREBOUNDIN Q12024AFTERADIFFICULT2023 MarketCapitalization(:n) 36,9 33,5 114.2% 19,2 22,0 +4..5% 16,0 137.05 11,0 8,9 12,2 4,5 4.7 23.1* 0,30.4 lNasdaqTradewebRobinhood Brokers DallfundsDLinedata 20242) 0231 2 Anea:tllerinsis.we:llhIe:tvnt.alknHxfrlernd:slre:grersdlzyz,drwen:yIheras.Juenes:allarlivesselr:dssasst.:fr? cryploourer'cyontEscrveslments,yswellssavelvins*eaualionsdivinaincressecerardlerweslliectsnul'or's EXAMPLES RecentapprovalbytheU.S.SecuritiesandExchangeComrnissionIncreasingfocusonEsG/sustainableinvestmentscyssot (SEC)ofspotBitcoinETFsasoustordtheoricesncryocure"ciessragersisattractingyoungergenerationsseekingtoinvestin Loell-trnefugla,beelitmgtallhlr,IkeIkotrhe:companiescommittedtoresponsibleandsustainablepractices *DRAKESTAR *r::k::-rr..n INTHELAST16MONTHS,MAJORWEALTHTECHDEALSWEREDOMINATEDBYSTRATEGICBUYERS Tarsiet HQ Description Rationale DgalDate DcalValur: EV/REV EV/EBITDA Markets 2.-C5.+-...*-J-+10e(--0ce.±: IUNPERY Peunos+oeu+ltcuiled+e'trazeo PTU..**..it..r"...:".:[i..d+.. MPANERAx.lia'Jia. : I. ONest +..?.n*+*,gialr-+"ng*r:+tn-.-.VO BJECTWAY+xn.h"rnyn..ilitirsn*le"g.1. f..'lfA'ki... . 11/i1 11: r. V Vestwell :+++::dgi.drer.'rd:c:+.. "..r..a",.2r.aI'*.2=*2al? LLightspeedFir'ar:VesVlls-d+:Si"--dgec:"rvire FBLUEOWL '1: Alpheya wn'.'nalrn*r*r.nthr*sl--ft.f.r .-J.s:.I'lla,Iy*s.:dl,L:dv,ll+el.BN YMELLON.'Jit++*-willtt.ilglw*-I'.AllP,. s,:-'s.-illz-snewk:rrot:crot *-? .2 4 Adenza ....,. ++:n+..+.i:+vHyN:a','+rali:!. Nasdaqul.'el.o'Jr.'ecsr'v'u's*leslc +s.:=*1*l";-.itis.r. *0.5.: 1:2. r/a Burgiss c.usaso.5s+:e +r:I:. MSCIemeler'sr'.veeree-smidsdce.dwde. 1':: I/a BROADWAY I5-co2ou.lale3sf.2s-esue.--3aoca.*? Blo -....?[...-li'?".tr;*-.f.r"ir's.-n..l-htir.". Cel:e.2k'.nl.el!..*wije.I.glerr.. omberg i..:+;i.lli-.,:'d... re.:s r/a Altrust ..*.-clu..sendef(*+.*oocen?:ueer.- l:*t:-l.t:ir. daelanationon2c2?ugt.t?$.i$u?+..-e; NSGI++t+fanli. 1 I. cushon +.-.w.u..--.J..u.?.....wu..u... t'tili.:.+l:lie.& 5.c+A2sus.4te**u,$+/=5r,cue:l<? NatWlestGroup+*"eirtr*p+tyid:ar.dli. ucI*s.le..,s,.esaues.?s.=r=se11s.. ...:? I.: 11.: r. OKron .++::*+.::aIr:.fff.rir?cs torebrandCffK..;"*+'gIr:slr.+h.*..+ilr* I=..,**".xa.1*"P1"=,[2≤cP.]11..*4*,Y I.--? *DRAKESTAR***r:*:k:+-rr..n -.*,..-+*,r..--.*r",-,*-.1,(..:,,-?-..:r NQT2O24.STRATEGICBUYERSACCOUNTEDFOROVER7O%OFALL WEALTHTECHM&ADEALS.CONTINUINGTHETRENDOBSERVEDIN2O23 ShareofAllwealthTechM&ADealsinG12024&2023Comments STRATEGICS Slra.eac:tayers'Mgarlivilysgwdansegcyplayers 2023Q12024 cigaiztioncffor.stccoowitlrewigccmpetitio~ccustemcrclena"cs. AurnewIehclogyxt:iFrte:l..r:dFrta.esI: .G..H! ircra=ccomcctitivcros: :HrsII.Jid onsirnment.osoccsll:w-ontcomostoivostmen:aroriles 26,7%28,0%s.seueocnc,suo:se.fo.ir 73,3%72.0% Friwa.eegily&a2:ti-il:rapplewih:halerge:Titsecllenwswere. PRIVATEEQUITY Hig+m.'ns.rulex.'orn'.rgchulkousIlkneuvhringcrexssw:lurs. oso:allnasstvsl.:on In'l:tic*sp:rvirrgfiare.alYierkelvol:tilityd*t-eerlsin.y Hgl+yecpil.xcim-t.r:pr+nd.pMi:d:dledal *DRAKESTAR...:J,,,. AFTERSHARPDECREASEINFUNDINGACTIVITY,INVESTMENTISSLOWLY STARTINGTOPICKUP rSr"l 23 67 1.712 KOHO Rais $277m 1.129 648 179: 14 605 783 3122 406 113 337332 48 '68 20360 178 1.432 2: 207 :.3 :23 :39 175 331 157 G:1222Q22022C:32022Q42022Q12023G22023Q32023Q42023Q1202< Ls.crstaeCarystagcScccl-otal I:.r.f.Jd::inrdecreased48.7%fromQ12023toQ1InQ12o24,investorsstartedshiftingtheirfocusbacktoearly- 2024.-'socc.r..cisdrivenbythecurrenteconomicandstagecompaniesasfearsofrecossor:rac:crsasingi-l:io? geopoliticalenvironmentooostoclrvcstoroctim's~ *DRAKESTAR**r:*:k:+-rr..n -*,..