Risk Factors Update Summary

• Adverse macroeconomic conditions led to a 34% decrease in revenue from $1.34 billion in 2022 to $1.19 billion in 2023.
• Failure to address risks could harm business and cause operating results to suffer.
• Advertiser demand was strong in 2023, but economic uncertainty and inflationary pressures impacted web traffic.
• Revolving Credit Agreement dated April 28, 2023, provides lenders with first-priority lien.
• Changes to privacy laws reflect increased public scrutiny and may impact data security.
• Increased caution among advertisers in 2024 may lead to less incremental spend, affecting results.
• Credit Agreement includes covenants limiting ability to incur indebtedness, grant liens, and make distributions.
• Amortization periods over 5 or 15 years pursuant to Internal Revenue Code Section 174.
• Various jurisdictions have enacted laws impacting digital services, increasing future tax obligations.
• Changes in consumer behavior due to economic uncertainty and inflation impacted average CPC in 2023.
• Credit Agreement utilizes Secured Overnight Financing Rate (SOFR) to calculate accrued interest.
• Plans to scale SEM efforts in 2024 to acquire Services leads may increase marketing expenses.
• Challenges in attracting, retaining, and motivating employees may harm business operations and results.
• Transitioning to internal measurement tools for web traffic metrics in 2024 may impact data comparability.