Predicting Long-Term IPO Trajectory Using Growth Persistence Core assumption: IPO threshold is $100MM+ ARR with forward growth >25% Example: Starting at $10MM ARR Yr-1 Yr0 Yr1 Yr2 Yr3 Yr4 Yr5 Yr6 Yr7 Company A ARR ($ MM) $5.0 $10.0 $18.2 $30.4 $47.2 $68.6 $94.0 $122.6 $153.1 Trailing Y/Y 100% 82% 67% 55% 45% 37% 30% 25% Growth (%) Yr-1 Yr0 Yr1 Yr2 Yr3 Yr4 Yr5 Yr6 Yr7 Company B ARR ($ MM) $5.6 $10.0 $16.5 $25.4 $36.6 $49.9 $64.6 $80.3 $96.3 Actual Y/Y 80% 65% 54% 44% 36% 30% 24% 20% Growth (%)