Main Event Entertainment acquired by Dave & Buster’s Entertainment, Inc.

Basis

• USD 835m enterprise value is treated as publicly disclosed or derived directly from public source data.
• Valuation covers 100% of the target; the amount invested or paid for a stake is separate.
• Implied EV / revenue is 2.21x, calculated from USD 835m value and USD 378m revenue.
• Revenue and multiple inputs are not fully disclosed in public transaction materials reviewed; treat the multiple as an estimate.
• Announced whole-company EV USD835m; no gross-up. Main Event historical revenue USD377.549m for FY ended February1,2022 is presented in the proforma statement aligned January30,2022. EV / that revenue approximately2.21x is calculated. Separate FYJune2021 revenue USD267m and adjusted EBITDA USD37m are retained in notes. Reported approximately9x unsynergized multiple uses 12-month adjusted EBITDA as of December31,2021, with denominator amount undisclosed, not USD37m. Base cash payments were USD835m plus adjustments; filing reports approximately USD872m closing cash and contingent consideration and USD837.380m initially reported net-of-cash consideration. Later reported net consideration USD832.472m is another measure, not announced EV. USD835m EV / USD377.549m Main Event FY ended February1,2022 revenue = approximately2.21x. Reported9x TTM adjusted EBITDA multiple not recalculated. Main Event historical FY ended February1,2022 revenue from SEC proforma statements. Approximately9x reported standalone multiple refers to TTM adjusted EBITDA December31,2021, a distinct period.