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"Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:10:58.789+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "296f1ce2-a176-4ca0-821f-0cb50bb12aeb", "parentComponentId": null }, { "bbox": { "h": 0.36, "w": 0.94, "x": 0.035, "y": 0.139 }, "kind": "paragraph", "text": "Confidentiality and Disclosures\nThis presentation has been prepared for use by Motive Capital Corp (\"Motive\") and Forge Global, Inc. (\"Forge\") in connection with their proposed business combination. This\npresentation is for information purposes only and is being provided to you solely in your capacity as a potential investor in considering an investment in Motive and may not be\nreproduced or redistributed, in whole or in part, without the prior written consent of Motive and Forge.\nNeither Motive nor Forge makes any representation or warranty as to the accuracy or completeness of the information contained in this presentation. The information in this\npresentation and any oral statements made in connection with this presentation is subject to change and is not intended to be all-inclusive or to contain all the information that a person\nmay desire in considering an investment in Motive and is not intended to form the basis of any investments decision in Motive. This presentation does not constitute either advice or a\nrecommendation regarding any securities. You should consult your own legal, regulatory, tax, business, financial and accounting advisors to the extent you deem necessary, and must\nmake your own decisions and perform your own independent investment and analysis of an investment in Motive and the transactions contemplated in this presentation.\nThis presentation and any oral statements made in connection with this presentation shall neither constitute an offer to sell nor the solicitation of an offer to buy any securities, or the\nsolicitation of any proxy, vote, consent or approval in any jurisdiction in connection with the proposed business combination, nor shall there be any sale of securities in any jurisdiction in\nwhich the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdictions. This communication is restricted by law; it\nis not intended for distribution to, or use by any person in, any jurisdiction where such distribution or use would be contrary to local law or regulation.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:10:58.789+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "400ae86a-f128-4ea7-9583-c959966e5358", "parentComponentId": null }, { "bbox": { "h": 0.37, "w": 0.94, "x": 0.035, "y": 0.518 }, "kind": "paragraph", "text": "Forward-Looking Statements\nCertain statements in this presentation may constitute \"forward-looking statements\" within the meaning of the federal securities laws. Forward-looking statements include, but are not\nlimited to, statements regarding Motive's or Forge's expectations, hopes, beliefs, intentions or strategies regarding the future including, without limitation, statements regarding: (i) the\nsize, demand and growth potential of the markets for Forge's products and services and Forge's ability to serve those markets, (ii) the degree of market acceptance and adoption of\nForge's products and services, (iii) Forge's ability to develop innovative products and services and compete with other companies engaged in the financial services and technology\nindustry, and (iv) Forge's ability to attract and retain customers. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or\ncircumstances, including any underlying assumptions, are forward-looking statements. The words \" anticipate,\" \"believe,\" continue,\" \" could,\" \" estimate,\" \" expect,\" \" intend,\" \"may,\"\n\"might,\" \"plan,\" \"possible,\" \"potential,\" \"predict,\" \"project,\" \" should,\" \" strive,\" \"would\" and similar expressions may identify forward-looking statements, but the absence of these words\ndoes not mean that statement is not forward looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current\nexpectations and assumptions and, as a result, are subject to risks and uncertainties. You should carefully consider the risks and uncertainties described in the \"Risk Factors\" section of\nMotive's registration statement on Form S-1, the proxy statement/prospectus on Form S-4 relating to the business combination, which is expected to be filed by Motive with the\nSecurities and Exchange Commission (the \"SEC\") and other documents filed by Motive from time to time with the SEC. These filings identify and address other important risks and\nuncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the\ndate they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Motive and Forge assume no obligation and do not intend to update or revise\nthese forward-looking statements, whether as a result of new information, future events, or otherwise. 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These non-GAAP measures are an addition to,\nand not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net income,\noperating income or any other performance measures derived in accordance with GAAP. Reconciliations of non-GAAP measures to their most directly comparable GAAP\ncounterparts are included in the Appendix to this presentation. Forge believes that these non-GAAP measures of financial results (including on a forward-looking basis) provide\nuseful supplemental information to investors about Forge. Forge's management uses forward-looking non-GAAP measures to evaluate Forge's projected financials and operating\nperformance. In addition, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore,\nForge's non-GAAP measures may not be directly comparable to similarly titled measures of other companies.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:10:59.095+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "09293ed3-37af-45eb-bb15-9bc406096545", "parentComponentId": null }, { "bbox": { "h": 0.102, "w": 0.933, "x": 0.034, "y": 0.826 }, "kind": "paragraph", "text": "The data contained herein is derived from various internal and external sources. All of the market data in the presentation involves a number of assumptions and limitations, and\nthere can be no guarantee as to the accuracy or reliability of such assumptions. Further, no representation is made as to the reasonableness of the assumptions made within or the\naccuracy or completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication\nas to future performance. Motive and Forge assume no obligation to update the information in this presentation.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:10:59.095+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "746c7603-b3ae-44e0-8fb0-7596fc091ed9", "parentComponentId": null }, { "bbox": { "h": 0.409, "w": 0.933, "x": 0.034, "y": 0.168 }, "kind": "paragraph", "text": "The financial information and operating metrics contained in this presentation are unaudited and do not conform to Regulation S-X. Such information and data may not be included\nin, may be adjusted in or may be presented differently in the registration statement to be filed by Motive relating to the business combination and the proxy statement/prospectus\ncontained therein, and such adjustments may be material.\nIn addition, this presentation includes estimates of certain financial metrics of Forge that may differ from Forge's actual financial metrics presented in any such proxy\nstatement/prospectus. The financial projections, estimates, targets and illustrative presentations in this presentation are forward-looking statements that are based on assumptions\nthat are inherently subject to significant uncertainties and contingencies, many of which are beyond Motive's and Forge's control. While all financial projections, estimates, targets\nand illustrative presentations are necessarily speculative, Motive and Forge believe that the preparation of prospective or illustrative financial information involves increasingly\nhigher levels of uncertainty the further out the projection, estimate, target or illustrative presentation extends from the date of preparation. The assumptions and estimates\nunderlying the projected, expected or target results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and\nuncertainties that could cause actual results to differ materially from those contained in the financial projections, estimates and targets. The inclusion of financial projections,\nestimates, targets and illustrative presentations in this presentation should not be regarded as an indication that Motive and Forge, or their representatives, considered or consider\nthe financial projections, estimates, targets and illustrative presentation to be a reliable predictions of future events. Further, illustrative presentations are not necessarily based on\nmanagement projections, estimates, expectations or targets but are presented for illustrative purposes only.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:10:59.095+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a10bf4ba-23b0-4940-936c-f8c57a00f086", "parentComponentId": null }, { "bbox": { "h": 0.018, "w": 0.007, "x": 0.96, "y": 0.947 }, "kind": "source-note", "text": "3", "attrs": { "numbered": true }, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. 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Investors and security holders may obtain more detailed information regarding the names and interests in the proposed business combination of Motive's directors and officers in Motive's filings with the SEC, including Motive's registration statement on Form S-1, which was originally filed with the SEC on November 25, 2020. To the extent that holdings of Motive's securities have changed from the amounts reported in Motive's registration statement on Form S-1, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Motive's shareholders in connection with the proposed business combination is set forth in the proxy statement/prospectus on Form S-4 for the proposed business combination, which is expected to be filed by Motive with the SEC.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:10:59.178+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0374aa84-677d-43f5-b84c-3db8167b2f48", "parentComponentId": null }, { "bbox": { "h": 0.16, "w": 0.93, "x": 0.035, "y": 0.35 }, "kind": "paragraph", "text": "Investors and security holders of Motive and Forge are urged to read the proxy statement/prospectus and other relevant documents that will be filed with the SEC carefully and in their entirely when they become available because they will contain important information about the proposed business combination\nInvestors and security holders will be able to obtain free copies of the proxy statement and other documents containing important information about Motive and Forge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by Motive can be obtained free of charge by directing a written request to Motive Capital Corp., 7 World Trade Center, 250 Greenwich Street, FL 47, New York, New York 10007.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:10:59.178+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0d4ac436-980e-4d38-8ada-62ee3fe113dd", "parentComponentId": null }, { "bbox": { "h": 0.16, "w": 0.93, "x": 0.035, "y": 0.497 }, "kind": "paragraph", "text": "Trademarks\nThis presentation contains trademarks, service marks, trade names and copyrights of Motive, Forge and other companies, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this presentation is not intended in, and does not imply, a relationship with Motive, Forge or any of their respective affiliates, or an endorsement or sponsorship by or of Motive, Forge or such affiliates. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this presentation may be listed without the TM, SM, (c) or (r) symbols, but Motive and Forge will assert, to the fullest extent under applicable law, the right of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:10:59.178+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "efd6d924-0a48-438a-8c64-10ed2e846ca3", "parentComponentId": null }, { "bbox": { "h": 0.035, "w": 0.202, "x": 0.035, "y": 0.074 }, "kind": "title", "text": "Disclaimer", "attrs": {}, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:10:59.178+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "33b42c43-56e2-4a87-9459-ef6da9e7e73d", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 5, "type": "setup", "function": "appendix", "rawType": "disclaimer", "block": null, "metadata": { "slideType": "disclaimer", "slideTypeCanon": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "019de52d-0801-727b-b98a-5ed095aeee78", "version": 1, "description": null }, "function": "appendix", "functionCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-138d-750b-83c3-49b4bc7a7a38", "version": 1, "description": null }, "density": "dense", "densityScore": 71, "componentCount": 6, "textChars": 2647, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-2.5-flash", "runId": null, "at": "2026-05-01 23:10:59.64+00", "seconds": 6.094, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de511-8247-73ac-8b49-993c1e83ae0c/5", "deck": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c", "deckAnchor": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c#slide-5", "deckJson": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.08, "x": 0.86, "y": 0.95 }, "kind": "image", "text": "Forge", "attrs": {}, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:10:59.64+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "137e2b74-0847-4c79-ae22-5ca1a9bf90c6", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.007, "x": 0.95, "y": 0.95 }, "kind": "other", "text": "5", "attrs": {}, "canon": { "kind": { "name": "Other", "slug": "other", "status": "active", "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d", "version": 1, "description": "Fallback when no canonical kind applies." }, "tool": null, "subkind": { "name": "Unclassified", "slug": "unclassified", "status": "active", "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0", "version": 1, "description": null }, "framework": null }, "subkind": "unclassified", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:10:59.64+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d589614f-0c1c-4cf3-9a0b-19bc1d59df7d", "parentComponentId": null }, { "bbox": { "h": 0.17, "w": 0.926, "x": 0.034, "y": 0.286 }, "kind": "paragraph", "text": "This material is neither an offer to sell nor a solicitation of an offer to buy any security in any Motive Fund, and may not be used or relied upon in connection with any offer or\nsolicitation. A private offering of interests in a Motive Fund may only be made by such Motive Fund pursuant to the offering documents for such Motive Fund, which will contain\nadditional information about the investment objectives, terms, and conditions of an investment in such Motive Fund and also contain tax information and risk disclosures that are\nimportant to any investment decision regarding such Motive Fund. The information contained in this material is superseded by, and is qualified in its entirety by reference to such\noffering documents. 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"slug": "metric", "status": "active", "canonId": "019de52c-f923-73bf-8081-d0b1a8c5264d", "version": 1, "description": "Big-number or KPI value." }, "tool": null, "subkind": { "name": "Big number", "slug": "big-number", "status": "active", "canonId": "019de52c-fc70-70c8-b965-0584548a9204", "version": 1, "description": null }, "framework": null }, "subkind": "big-number", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.233+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "522766eb-70d6-43e3-be8f-5e2361419620", "parentComponentId": null }, { "bbox": { "h": 0.01, "w": 0.09, "x": 0.29, "y": 0.76 }, "kind": "paragraph", "text": "Subscribers (5)", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.233+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "51df974f-e0d2-4d09-934d-acd792b62e8d", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.11, "x": 0.309, "y": 0.49 }, "kind": "paragraph", "text": "$2,434mm Data Revenue", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.233+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9adfca4d-667a-4e30-b39a-dc7b953d75a9", "parentComponentId": null }, { "bbox": { "h": 0.014, "w": 0.2, "x": 0.15, "y": 0.61 }, "kind": "paragraph", "text": "Number of Subscribers", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.233+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a1ab5530-bd38-4870-aa4d-88fe6632d9eb", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.11, "x": 0.089, "y": 0.49 }, "kind": "paragraph", "text": "$1,173mm Data Revenue", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.233+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bbc1fc8b-c603-419b-aa61-0dec87402f42", "parentComponentId": null }, { "bbox": { "h": 0.01, "w": 0.09, "x": 0.09, "y": 0.76 }, "kind": "paragraph", "text": "Subscribers (4)", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.233+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bc150dbf-d0c3-4a3e-bc5f-6e1e2f20b579", "parentComponentId": null }, { "bbox": { "h": 0.014, "w": 0.386, "x": 0.054, "y": 0.244 }, "kind": "paragraph", "text": "Data Revenue as % of Total for Select Exchanges (1)", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.233+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c8c0b548-82b5-4e20-ac26-989b7bd9fd1e", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.91, "x": 0.039, "y": 0.87 }, "kind": "source-note", "text": "2) Source: NASDAQ Q1'21 Earnings Presentation, 2020 10-K - calculated as (Investment Intelligence + IR and ESG Services Revenue) / Total Revenue Less Transaction-Based Expenses = ($955mm + $218mm) / $3,053mm = 38%", "attrs": {}, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.233+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2733d6ab-aa4a-413c-8a19-671acb77713f", "parentComponentId": null }, { "bbox": { "h": 0.01, "w": 0.66, "x": 0.039, "y": 0.86 }, "kind": "source-note", "text": "1) Data Revenue as a % of Total Revenue Less Transaction-Based Expenses shown on a Q1 2021 LTM basis", "attrs": {}, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.233+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4bcc49d2-22ff-4c81-a1e5-7240c15622bc", "parentComponentId": null }, { "bbox": { "h": 0.01, "w": 0.35, "x": 0.039, "y": 0.92 }, "kind": "source-note", "text": "4) Source: Pitchbook website - newsletter subscribers", "attrs": {}, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.233+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6fe3efed-5d0f-4015-a358-8017d488b382", "parentComponentId": null }, { "bbox": { "h": 0.01, "w": 0.35, "x": 0.039, "y": 0.93 }, "kind": "source-note", "text": "5) Source: CBInsights website - newsletter subscribers", "attrs": {}, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.233+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c756bad8-cc97-4269-a975-d5321b341190", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.91, "x": 0.039, "y": 0.89 }, "kind": "source-note", "text": "3) Source: ICE Q1'21 Earnings Presentation, 2020 10-K - calculated as (Data and Conn. 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PF 2020A: $48, $72; 2021P: $123; 2022P: $151; 2023P: $182 - $191", "attrs": { "y_axis_label": "$mm", "x_axis_labels": [ "2019A", "PF 2020A", "2021P", "2022P", "2023P" ] }, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:21.393+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ca3516fb-4503-43ba-9850-838a1b429f48", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.06, "x": 0.88, "y": 0.935 }, "kind": "image", "text": "Forge", "attrs": {}, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:21.393+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8a284458-1dbe-4e78-9b86-9a805fb094ca", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.86, "x": 0.034, "y": 0.905 }, "kind": "source-note", "text": "2) Pro-Forma numbers include full year effect of SharesPost including the periods in which it was a standalone entity (January 2020 - October 2020); reported numbers only include SharesPost numbers as of acquisition in November 2020", "attrs": {}, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. 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"subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:21.393+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "91c102d2-ebbb-422b-803c-81378a74c3b1", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.24, "x": 0.034, "y": 0.075 }, "kind": "title", "text": "Attractive Growth", "attrs": {}, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", 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null }, "componentId": "dd26778d-721d-42d9-a4e9-f2b9f21777b1", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 40, "type": "evidence", "function": "show_traction", "rawType": "traction", "block": null, "metadata": { "slideType": "traction", "slideTypeCanon": { "name": "Traction", "slug": "traction", "status": "active", "canonId": "019de52d-0edd-72ab-820f-3ebc71a9c542", "version": 1, "description": null }, "function": "show_traction", "functionCanon": { "name": "Show traction", "slug": "show_traction", "status": "active", "canonId": "019de52d-16a8-756a-9b38-a7d35420561d", "version": 1, "description": null }, "density": "dense", "densityScore": 68, "componentCount": 6, "textChars": 500, "nDataPoints": 10, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-2.5-flash", "runId": null, "at": "2026-05-01 23:11:19.522+00", "seconds": 5.447, "promptVersion": 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"version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.522+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ac080772-dd81-4783-86b8-f97d5d61a184", "parentComponentId": null }, { "bbox": { "h": 0.71, "w": 0.34, "x": 0.37, "y": 0.13 }, "kind": "chart", "text": "Annual Net Take Rate\n2.5% PF 2019A\n2.7% PF 2020A\n2.4% PF Jun-20 LTM\n3.1% PF Jun-21 LTM", "attrs": { "series_names": [ "Annual Net Take Rate" ], "x_axis_labels": [ "PF 2019A", "PF 2020A", "PF Jun-20 LTM", "PF Jun-21 LTM" ], "y_axis_labels": [ "2.5%", "2.7%", "2.4%", "3.1%" ] }, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.522+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c6826bca-1b79-4f3e-9ac2-5281369e7859", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.22, "x": 0.72, "y": 0.35 }, "kind": "list", "text": "Key Drivers of Take Rate\nSize of transaction\nType of structure\nType of buyer / seller\nUse of external broker", "attrs": { "items": [ "Size of transaction", "Type of structure", "Type of buyer / seller", "Use of external broker" ] }, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:19.522+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c895e690-c541-4508-b1ed-8ad68f1125a2", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.69, "x": 0.035, "y": 0.94 }, "kind": "source-note", "text": "Note: Pro-Forma numbers include full year effect of SharesPost including the periods in which it was a standalone entity (January 2019 - October 2020)", "attrs": {}, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. 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We have a history of losses and may not achieve or maintain profitability in the future.\n2. We face intense and increasing competition and, if we do not compete effectively, our competitive positioning and our operating results will be harmed. Some of our current and potential competitors have longer operating histories, particularly with respect to our financial services business, significantly greater financial, technical, marketing and other resources and a larger customer base than we do.\n3. Our customers may encounter difficulties with investing through our platform, and face risks including those related to a lack of information available about private companies, liquidity concerns and potential transfer or sale restrictions with respect to securities offered on our platform.\n4. We have been or are involved in, and may in the future become involved in, litigation matters between customers involving disputes with respect to transactions on our platform (such as in the event of delayed delivery or a failure to deliver securities), which litigation could be expensive and time consuming.", "attrs": {}, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:27.528+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bd3bc4fc-5498-4194-ac60-8d6f418bb7c3", "parentComponentId": null }, { "bbox": { "h": 0.025, "w": 0.02, "x": 0.939, "y": 0.94 }, "kind": "other", "text": "53", "attrs": {}, "canon": { "kind": { "name": "Other", "slug": "other", "status": "active", "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d", "version": 1, "description": "Fallback when no canonical kind applies." }, "tool": null, "subkind": { "name": "Unclassified", "slug": "unclassified", "status": "active", "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0", "version": 1, "description": null }, "framework": null }, "subkind": "unclassified", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:27.528+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c9904f3d-0a54-43eb-a0a8-3ca62822641d", "parentComponentId": null }, { "bbox": { "h": 0.22, "w": 0.883, "x": 0.062, "y": 0.15 }, "kind": "paragraph", "text": "Certain factors may have a material adverse effect on our business, financial condition, and results of operations. 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In that event, the trading price of our common stock following the business combination could decline, and you could lose part or all of your investment.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:27.528+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "91c7b208-ee26-4461-9f4c-464f4e2e4509", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.302, "x": 0.035, "y": 0.07 }, "kind": "title", "text": "Risk Factors (1/12)", "attrs": {}, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:27.528+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7c125084-a4ec-4957-a0a0-2145dc4e7da7", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 54, "type": "appendix", "function": "appendix", "rawType": "appendix_disclosure", "block": null, "metadata": { "slideType": "appendix_disclosure", "slideTypeCanon": { "name": "Appendix disclosure", "slug": "appendix_disclosure", "status": "active", "canonId": "019de52d-07b2-7549-8e8b-932a19f6e616", "version": 1, "description": null }, "function": "appendix", "functionCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-138d-750b-83c3-49b4bc7a7a38", "version": 1, "description": null }, "density": "dense", "densityScore": 53, "componentCount": 4, "textChars": 1313, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-2.5-flash", "runId": null, "at": "2026-05-01 23:11:27.635+00", "seconds": 4.69, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de511-8247-73ac-8b49-993c1e83ae0c/54", "deck": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c", "deckAnchor": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c#slide-54", "deckJson": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.06, "x": 0.87, "y": 0.94 }, "kind": "image", "text": null, "attrs": {}, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:27.635+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3894b0fb-b926-4f79-87dc-770ea589b556", "parentComponentId": null }, { "bbox": { "h": 0.7, "w": 0.88, "x": 0.06, "y": 0.15 }, "kind": "list", "text": "5. There is no assurance that our revenue and business models will be successful.\n6. Our scalability could be contingent on us successfully building a mobile app for our services, which may be expensive and time consuming, and the success of which is not guaranteed.\n7. If we are unable to develop new solutions, adapt to technological change, sell our products and services into new markets or further penetrate our existing markets, our revenue may not grow as expected.\n8. Our projections and key performance metrics are subject to significant risks, assumptions, estimates, judgments and uncertainties. As a result, our financial and operating results may differ materially from our expectations.\n9. Our estimates regarding the size of our addressable market may prove to be inaccurate.\n10. If we fail to effectively manage any future growth, our business, operating results, and financial condition could be adversely affected.\n11. We may require additional capital to satisfy our liquidity needs and support business growth and objectives, and this capital might not be available to use on reasonable terms, if at all, and may be delayed or prohibited by applicable regulations. 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We have in the past consummated and, from time to time we may evaluate and potentially consummate, acquisitions, which could require significant management attention, result in additional dilution to our stockholders, increase expenses and disrupt our business and adversely affect our financial results.\n13. We may not be able to successfully integrate the operations of businesses that we acquired or realize the anticipated benefits of the acquisitions, which could have a material adverse effect on our business and results of operations.\n14. Our business, sales, financial conditions, results of operations and cash flows may be adversely affected by macro-economic conditions, natural disasters, political events, health crisis such as the global COVID-19 outbreak, natural disasters, war and terrorism and other macroeconomic events, and other factors that we cannot control.\n15. If we fail to attract new customers, or fail to do so in a cost-effective manner, our business may be harmed.\n16. We may experience fluctuations in our quarterly operating results.\n17. 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We conduct our brokerage and other business operations through subsidiaries and may in the future rely on dividends from our subsidiaries for a substantial amount of our cash flows.\n19. Certain of our issuer customers may not agree to our data policies, which could impact our data services business.\n20.Fluctuations in interest rates could impact our business.\n21. Our reported financial results may be adversely affected by changes in accounting principles generally accepted in the United States.\n22.Any failure by us to maintain effective internal controls over financial reporting could have an adverse effect on our business, financial condition and results of operations.\n23.If our goodwill, or other intangible assets, or fixed assets become impaired, we may be required to record a charge to our earnings.\n24.Our business is subject to extensive laws and regulations promulgated by U.S. state, U.S. federal and non-U.S. laws, including those applicable to broker-dealers, investment advisers, and alternative trading systems, in the jurisdictions in which we operate. 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We are subject to extensive, complex and evolving laws, rules and regulations, which are subject to change and which are interpreted and enforced by various federal, state and local government authorities and self-regulatory organizations. The ultimate impact of these laws and regulations remains uncertain, but may adversely affect our ability to operate profitably.\n26.We have in the past, and will continue to be, subject to inquiries, exams, investigations or enforcement matters, any of which could have an adverse effect on our business.\n27.Employee misconduct, including insider trading violations (given the nature of our business), can be difficult to detect and deter, and could harm our reputation and subject us to significant legal liability. We cannot ensure that all of our employees and agents will comply with our internal policies and applicable law, including anti-corruption, anti-bribery and similar laws. We may ultimately be held responsible for any such non-compliance.\n28. The regulatory requirements to which we are subject result in substantial compliance costs, and our business would be adversely affected if our licenses are impaired as a result of non-compliance with those requirements.\n29.We may become subject to examinations, regulatory enforcement, or litigation as a result of our failure to comply with applicable laws and regulations, even if noncompliance was inadvertent.\n30.Litigation, regulatory actions, and compliance issues could subject us to significant fines, penalties, judgments, remediation costs, negative publicity, changes to our business model, and requirements resulting in increased expenses.", "attrs": {}, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:31.023+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "142d112a-0a7b-4f21-86ee-bd85da03af13", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.02, "x": 0.95, "y": 0.95 }, "kind": "other", "text": "57", "attrs": {}, "canon": { "kind": { "name": "Other", "slug": "other", "status": "active", "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d", "version": 1, "description": "Fallback when no canonical kind applies." }, "tool": null, "subkind": { "name": "Unclassified", "slug": "unclassified", "status": "active", "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0", "version": 1, "description": null }, "framework": null }, "subkind": "unclassified", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:31.023+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0941fc4b-700f-4f5e-8219-32288682eca8", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.31, "x": 0.039, "y": 0.069 }, "kind": "title", "text": "Risk Factors (5/12)", "attrs": {}, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:31.023+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c3641ac4-7d09-4096-8847-27cfeb473f8c", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 58, "type": "appendix", "function": "appendix", "rawType": "appendix_disclosure", "block": null, "metadata": { "slideType": "appendix_disclosure", "slideTypeCanon": { "name": "Appendix disclosure", "slug": "appendix_disclosure", "status": "active", "canonId": "019de52d-07b2-7549-8e8b-932a19f6e616", "version": 1, "description": null }, "function": "appendix", "functionCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-138d-750b-83c3-49b4bc7a7a38", "version": 1, "description": null }, "density": "balanced", "densityScore": 41, "componentCount": 2, "textChars": 1621, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-2.5-flash", "runId": null, "at": "2026-05-01 23:11:30.262+00", "seconds": 3.842, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de511-8247-73ac-8b49-993c1e83ae0c/58", "deck": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c", "deckAnchor": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c#slide-58", "deckJson": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c.json" }, "components": [ { "bbox": { "h": 0.76, "w": 0.88, "x": 0.06, "y": 0.15 }, "kind": "list", "text": "31. Our compliance and risk management policies and procedures as a regulated financial services company may not be fully effective in identifying or mitigating compliance and risk exposure in all market environments or against all types of risk.\n32.We are subject to stringent laws, rules, regulations, policies, industry standards and contractual obligations regarding data privacy and security and may be subject to additional related laws and regulations in jurisdictions into which we expand. Many of these laws and regulations are subject to change and reinterpretation and could result in claims, changes to our business practices, monetary penalties, increased cost of operations or other harm to our business.\n33.We are subject to anti-money laundering and anti-terrorism financing laws and regulations, and failure to comply with these obligations could have significant adverse consequences for us, including subjecting us to criminal or civil liability and harm to our business.\n34. We are subject to anti-corruption, anti-bribery and similar laws, and non-compliance with such laws can subject us to significant adverse consequences, including criminal or civil liability and harm our business.\n35. There is a risk that our affiliated entities will not maintain proper information barriers if we fail to develop and enforce appropriate policies and procedures regarding information barriers between entities.\n36. We have expanded and may continue to expand into international markets, which expose us to significant new risks, and our international expansion efforts may not be successful.", "attrs": {}, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:30.262+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7de52d51-3810-4713-bf8d-1e195a59d822", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.304, "x": 0.035, "y": 0.07 }, "kind": "title", "text": "Risk Factors (6/12)", "attrs": {}, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:30.262+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "77d7ee78-5604-492a-9cdc-b35bb96c7c41", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 59, "type": "appendix", "function": "appendix", "rawType": "appendix_disclosure", "block": null, "metadata": { "slideType": "appendix_disclosure", "slideTypeCanon": { "name": "Appendix disclosure", "slug": "appendix_disclosure", "status": "active", "canonId": "019de52d-07b2-7549-8e8b-932a19f6e616", "version": 1, "description": null }, "function": "appendix", "functionCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-138d-750b-83c3-49b4bc7a7a38", "version": 1, "description": null }, "density": "dense", "densityScore": 54, "componentCount": 4, "textChars": 1383, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-2.5-flash", "runId": null, "at": "2026-05-01 23:11:31.816+00", "seconds": 4.605, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de511-8247-73ac-8b49-993c1e83ae0c/59", "deck": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c", "deckAnchor": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c#slide-59", "deckJson": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.06, "x": 0.879, "y": 0.94 }, "kind": "image", "text": null, "attrs": {}, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:31.816+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0b50ad95-bea4-4fab-bc34-152bdc0f5f79", "parentComponentId": null }, { "bbox": { "h": 0.726, "w": 0.885, "x": 0.06, "y": 0.155 }, "kind": "list", "text": "37. We may be unable to sufficiently obtain, maintain, protect, or enforce our intellectual property and other proprietary rights, any of which could reduce our competitiveness and harm our business and operating results.\n38. Accusations of infringement of third-party intellectual property rights could materially and adversely affect our business.\n39. Changes in tax law, differences in interpretation of tax laws and regulations, and proposed legislation that would impose taxes on certain financial transactions could have a material adverse effect on our business, financial condition and results of operations.\n40. Forge Trust Co., a South Dakota non-depository trust company and one of our wholly owned subsidiaries, is subject to periodic regulatory examinations and inspections by the South Dakota Division of Banking.\n41. Recent statements by lawmakers, regulators and other public officials have signaled an increased focus on new or additional regulations that could impact our business and require us to make significant changes to our business model and practices, and could adversely affect our ability to operate our business.\n42. We rely on our management team and will require additional key personnel to grow our business, and the loss of key management members or key employees, or an inability to hire key personnel, could harm our business.", "attrs": {}, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:31.816+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "577eaefd-bfc3-4cfe-a978-260e65967da7", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.018, "x": 0.948, "y": 0.94 }, "kind": "other", "text": "59", "attrs": {}, "canon": { "kind": { "name": "Other", "slug": "other", "status": "active", "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d", "version": 1, "description": "Fallback when no canonical kind applies." }, "tool": null, "subkind": { "name": "Unclassified", "slug": "unclassified", "status": "active", "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0", "version": 1, "description": null }, "framework": null }, "subkind": "unclassified", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:31.816+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e7c14704-dcfb-4710-9221-979a61025fcb", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.304, "x": 0.036, "y": 0.073 }, "kind": "title", "text": "Risk Factors (7/12)", "attrs": {}, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:31.816+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b569e818-4f4b-4c04-8e5e-bbe7343f336e", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 60, "type": "appendix", "function": "establish_context", "rawType": "other", "block": null, "metadata": { "slideType": "other", "slideTypeCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43", "version": 1, "description": null }, "function": "establish_context", "functionCanon": { "name": "Establish context", "slug": "establish_context", "status": "active", "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf", "version": 1, "description": null }, "density": "dense", "densityScore": 54, "componentCount": 4, "textChars": 1544, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-2.5-flash", "runId": null, "at": "2026-05-01 23:11:32.507+00", "seconds": 4.617, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de511-8247-73ac-8b49-993c1e83ae0c/60", "deck": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c", "deckAnchor": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c#slide-60", "deckJson": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.06, "x": 0.87, "y": 0.95 }, "kind": "image", "text": "Forge", "attrs": {}, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:32.507+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b088181d-0d07-4481-9fd7-1d026ef97ba3", "parentComponentId": null }, { "bbox": { "h": 0.67, "w": 0.86, "x": 0.087, "y": 0.155 }, "kind": "list", "text": "43. We may not be able to secure adequate insurance to cover all known risks and our insurance policies may not be sufficient to cover all potential claims.\n44.Our risk management processes and procedures may not be effective.\n45. We depend on third parties for a wide array of services, systems and information technology applications, and a breach or violation of law by one of these third parties could disrupt our business or provide our competitors with an opportunity to enhance their position at our expense. Additionally, the loss of any of those service providers could materially and adversely affect our business, results of operations, and financial condition.\n46.Systems failures or disruptions, including events beyond our control, and resulting interruptions in the availability of our websites or services could harm our business and reputation. Certain of our systems rely on older programming languages and are dependent upon hardware that may soon be in need of replacement. A breakdown or shutdown of our operating systems could cause a major disruption to the business, and our attempts to modernize our systems or implement new hardware or software may not be successful, and may otherwise be costly and time-consuming\n47.Cyber incidents or attacks directed at us and other security breaches or unauthorized access to our systems could result in information theft, data corruption, operational disruption and/or financial and reputational loss, and we may not be able to insure against such risk.", "attrs": {}, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": 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develop or be sustained, which would adversely affect the liquidity and price of our common stock. If securities or industry analysts do not publish research, or publish inaccurate or unfavorable research, about our business, the price and liquidity of our common stock could decline.\n49.Sales of a substantial number of our common shares in the public market following the business combination by our existing shareholders could cause our share price to decline.\n50.We cannot predict our future capital needs and we may not be able to obtain additional financing on terms favorable to us, if at all.\n51. Forge's limited operating history, recent growth and the quickly changing markets in which it operates make evaluating our current business and future prospects difficult, which may increase the risk of investing in our stock.\n52.As a public company, we will be subject to significant obligations relating to reporting, procedures and internal controls.\n53. 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We will be an “emerging growth company' and we cannot be certain if the reduced reporting requirements applicable to emerging growth companies will make our common stock less attractive to investors.\n55. Motive may not have sufficient funds to consummate the proposed business combination.\n56. We have not yet entered into a definitive agreement for a business combination and, when we do, the completion of the proposed business combination will be subject to the satisfaction of certain closing conditions, including, among others, receipt of applicable regulatory approvals, a minimum cash condition and the approval of the business combination by our shareholders and Motive's shareholders.\n57. Motive and we will incur significant transition costs in connection with the business combination.\n58. The business combination may be completed even though material adverse effects may result from the announcement of the business combination, industry-wide changes and other causes.\n59. Delays in completing the business combination may substantially reduce the expected benefits of the business combination.\n60. 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Motive directors and officers may have interests in the business combination different from the interests of Motive shareholders.\n62.Motive's sponsor may have interests in the Business Combination different from the interests of Motive shareholders.\n63.Our directors and officers may have interests in the business combination bination different from the interests of our shareholders.\n64.Motive's and our ability to consummate the business combination, and the operations of the post-combination Company following the business combination, may be materially adversely affected by the recent COVID-19 pandemic.\n65.Our shareholders will have a reduced ownership and voting interest after the business combination and will exercise less influence over management.\n66.Motive shareholders will have a reduced ownership and voting interest after the business combination and will exercise less influence over management.\n67. The market price of shares of the post-combination Company's common stock may be affected by factors different from those currently affecting the prices of shares of Motive Class A common stock", "attrs": {}, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:33.39+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fa7ac83f-dc18-47d9-b742-f1d2b97a778e", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.32, "x": 0.086, "y": 0.07 }, "kind": "title", "text": "Risk Factors (11/12)", "attrs": {}, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:33.39+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bbc8a666-dddf-46a6-83b8-024a8b511d21", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 64, "type": "setup", "function": "appendix", "rawType": "disclaimer", "block": null, "metadata": { "slideType": "disclaimer", "slideTypeCanon": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "019de52d-0801-727b-b98a-5ed095aeee78", "version": 1, "description": null }, "function": "appendix", "functionCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-138d-750b-83c3-49b4bc7a7a38", "version": 1, "description": null }, "density": "sparse", "densityScore": 18, "componentCount": 2, "textChars": 255, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-2.5-flash", "runId": null, "at": "2026-05-01 23:11:33.185+00", "seconds": 3.071, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de511-8247-73ac-8b49-993c1e83ae0c/64", "deck": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c", "deckAnchor": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c#slide-64", "deckJson": "/decks/019de511-8247-73ac-8b49-993c1e83ae0c.json" }, "components": [ { "bbox": { "h": 0.089, "w": 0.885, "x": 0.06, "y": 0.153 }, "kind": "paragraph", "text": "68. There can be no assurance that the post-combination Company's common stock will be approved for continued listing on the NYSE or that the post-combination Company will be able to comply with the continued listing standards of NYSE.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:33.185+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f5444431-fb12-4b6f-a9ad-ad816ba94414", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.349, "x": 0.035, "y": 0.073 }, "kind": "title", "text": "Risk Factors (12/12)", "attrs": {}, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-01 23:11:33.185+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4d50d788-4fcf-419a-89a3-5ce1641c0381", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true } ], "arcBeats": [ { "from": 11, "to": 14, "label": "Problem", "description": "The deck presents the problem of the private markets lacking infrastructure." }, { "from": 16, "to": 20, "label": "Solution", "description": "The deck presents Forge's solution for creating mission-critical infrastructure." }, { "from": 12, "to": 13, "label": "Market Size", "description": "The deck presents the market sizing and potential for returns." }, { "from": 21, "to": 22, "label": "Traction", "description": "The deck presents Forge's traction and growth." } ], "loops": [ { "from": 11, "to": 13, "label": "Why Now", "description": "Why now is the right time to invest in Forge" }, { "from": 14, "to": 16, "label": "Cost Of Inaction", "description": "The cost of inaction in the private markets" } ] }