Risk Factors Update Summary

• The company commenced paying quarterly dividends on shares of Class A common stock in 2023.
• The company must continually add more new subscribers than those who do not renew subscriptions. This may involve significantly higher marketing expenses.
• The MarketWise Members exchanged 3,000,000 LLC Units for an equal number of Class B common stock shares.
• Failure to convert free subscribers to paying subscribers could negatively impact business, operations, and financial condition.
• The Sponsor and certain management members are entitled to an additional 1,000,000 newly issued shares.
• The company faces extensive and rapidly evolving regulations, including regulatory inquiries from state consumer protection agencies.
• The Sponsor may be entitled to release 1,525,500 shares of Class A common stock from escrow.
• The company's ability to effectively manage growth and integrate new hires is crucial to avoid adverse effects.
• The company's Board of Directors may take actions that may not align with shareholders' interests.
• The company's use of AI may result in compliance obligations, regulatory investigations, and consumer lawsuits.
• Failure to remediate material weaknesses in internal controls could impact financial reporting accuracy.
• Changes in laws and regulations, such as the CCPA and UCPA, could lead to increased liability exposure and substantial costs.
• The company's stock price may be volatile and could decline significantly due to various factors.
• The company's ability to forecast future results is subject to uncertainties, including effectively planning for and modeling future growth.