Slide 1: Investor Presentation
Investor Presentation. August 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Se
Slide 3: Key Investment Highlights
Key Investment Highlights 1 TV Has Highly Attractive Engagement and Scale Dynamics Relative to Search, Social and Mobile 2 PTV Near-Term Market Opportunity Approaching $120B 3 MNTN is Unlocking Performance Budgets Not Available Yet to Other CTV Platforms 4 Deep Customer Roster of Recognizable Consum
Slide 4: MNTN's Near-Term Market Opportunity Approaching $120B
MNTN’s Near-Term Market Opportunity Approaching $120B Bottoms-Up Market Potential(5) Bottoms-Up Market Potential(5) $411B (1) U.S. Target Advertisers 1.8M........... (Firm Size 10-500 Employees) ‘25-’29 CAGR: 6.8% Total U.S. Advertising(2) $7M............ Avg. Revenue Avg. Marketing Budgets $650K...
Slide 5: MNTN Introduced Performance Software to the CTV Channel
MNTN Introduced Performance Software to the CTV Channel ~95% (2) 63% Increase in Active PTV Customers(1) of our customers never Software is Self-Service for advertised on TV before All Customers Note: 1. For the trailing twelve months ended December 31, 2025, compared to the trailing months ended De
Slide 6: MNTN's First Mover & Competitive Advantage
MNTN’s First Mover & Competitive Advantage Leading Technology: Brand-Direct, Self-Serve PTV Platform with Advanced AI Next-Gen Targeting: MNTN Matched Superior Attribution: Across 400M+ Devices through 1st Party and 3rd Party Data Strong Creative Tools: QuickFrame and Generative AI Tools Publisher N
Slide 7: Return on Ad Spend is a Primary Focus of Millions of Performance Advertisers
Return on Ad Spend is a Primary Focus of Millions of Performance Advertisers $25,000 $125,000 SPEND VISIT PURCHASE Campaign Revenue Ad Spend 5x Campaign ROAS Revenue Advertisers will continue to spend against their ROAS target Note: Information on this slide is presented for illustrative purposes on
Slide 8: TV has Greater Engagement and Scale than Search and Social but is Undermonetized
TV has Greater Engagement and Scale than Search and Social but is Undermonetized(1) TV $295B(2) $196B(3) Engagement (per day) ~9 mins(4) ~63 mins(6) ~150 mins(7) Users 4.4B(5) 3.9B (MAU)(3) 5.3B (MAU)(8) Note: 1. Based on MNTN estimates. 5. Business of Apps Google Search Statistics as of January 202
Slide 9: MNTN Unlocks Performance Budgets Not Available to Other CTV Platforms
MNTN Unlocks Performance Budgets Not Available to Other CTV Platforms Direct to Marketer with Old Agency Driven World Full-Stack Automation Campaign Type Performance / ROAS Brand / Reach Customers Millions of Performance Marketers Limited Brand Marketers Attribution Campaign Optimization Agency Blac
Slide 10: Our Proprietary Tech Stack Enables Advertisers to Launch Performance TV Campaigns
Our Proprietary Tech Stack Enables Advertisers to Launch Performance TV Campaigns for the First Time Self-Serve • Set goals and control budgets Goal & Budget Planning Match Audiences Next Gen Targeting - Matching Consumers With • Advanced graphs, keywords and intent-based audiences Brands Creative T
Slide 11: MNTN Matched Connecting Marketers with CTV Audiences
MNTN Matched Connecting Marketers with CTV Audiences Matching Based on Multiple Signals ~130M Households(1) Shopper • Looking at skateboards • Purchased surfboard Categorizing consumers based on signals and Events Interests • College Grad • Household income propensity to buy • Marriage • Fan of Skat
Slide 12: AI Drives MNTN Matched Which Simplifies Marketer Workflows
AI Drives MNTN Matched Which Simplifies Marketer Workflows 1 2 3 4 Generative AI Based Matching with Matching Budget With High Keywords Categorization(1) MNTN Matched Intent Audiences Note: 1. Graphics presented for illustrative purposes only. 12
Slide 13: AI Powered Video and Audio Generation
AI Powered Video and Audio Generation Game-Changer for Setting Up TV Campaigns STORYBOARD EDITOR PUBLISH Storyboarding is as easy as providing Provides selection of natural AI Instantly publish to MNTN CTV, as text prompts for both video and voices – 235 total voices(1) and well as other major digit
Slide 14: Access to Substantially All Networks, Devices, and Platforms
Access to Substantially All Networks, Devices, and Platforms Premium Inventory Incremental Budgets 200+ TV NETWORKS Local News Preferential Pricing Strategically Aligned with Networks 14
Slide 15: MNTN Has Built the Only Successful Sales Channel for Performance Advertising on TV
MNTN Has Built the Only Successful Sales Channel for Performance Advertising on TV Marketing Engine Marketing lays the foundation Brand-Direct Approach MNTN sells to performance marketers Product Focused Sales Average Inbound Sales Cycle(1) Sales pitches prospects on platform Trial Performance Marke
Slide 16: Multiple Levers to Drive Future Growth
Multiple Levers to Drive Future Growth Accelerate New Customer Continuous Product Develop & Promote the Increase Efficiencies & Extend Into Expand Wallet Share Acquisition Innovation MNTN Brand Operating Leverage Adjacencies New Accelerate New Customer Acquisition & Expand Wallet Share Markets 16
Slide 17: Leading Senior Management Team
Leading Senior Management Team Mark Douglas Patrick Pohlen Chris Innes Ryan Reynolds Garland Hill Chief Executive Officer Chief Financial Officer Chief Operating Officer Chief Creative Officer Chief Revenue Officer George Dewey Richard Girges Marwan Soghaier Anna McMurphy Peter Blacker Chief Brand O
Slide 18: Key Financial Highlights
Key Financial Highlights Strong Customer and Revenue Growth Consistent revenue growth from the acquisition of new and retention of existing customers Gross Margin Expansion Gross margin expansion through increasing efficiencies Operating Leverage Efficiencies in sales and marketing driving increased
Slide 19: We believe we created the SMB advertising market for streaming television
MNTN COMPANY SNAPSHOT $352M (5) $38.9B (4) Revenue (2026E) Client Generated Revenue (2020 – 2025) We believe we created the SMB advertising $98.5M (1)(5) Adj. EBITDA (2026E) 4,225 (2) Total Customers market for streaming television 47% (3) 12.1x “Rule of” (Q2 2026A) Performance TV Revenue Increase (
Slide 20: Q2 2026 Highlights
Q2 2026 Highlights $82.5M 21% Total Revenue Total Growth (Adjusted) 80% +350 BPs Gross Margin YoY Margin Expansion $59.2M 21% Operating Expenses YoY % Increase $21.5M (1) ~26% (1) 48% (1) Adj. EBITDA Adj. EBITDA Margin YoY % Increase Note: 1. See Appendix for a reconciliation with the most directly
Slide 21: Revenue + Gross Profit
Revenue + Gross Profit (Millions) 2025 2026 Revenue Q1 Q2 Q3 Q4 2025 Q1 Q2 MNTN, excluding $59.1 $68.5 $70.0 $87.1 $284.7 $73.7 $82.5 Maximum Effort YoY 46% 34% 31% 36% 36% 25% 21% Maximum Effort $5.4 - - - $5.4 - - YoY 65% n/m n/m n/m nm n/m n/m (1) Total $64.5 $68.5 $70.0 $87.1 $290.1 $73.7 $82.5
Slide 22: Revenue Growth – Excluding Maximum Effort
Revenue Growth – Excluding Maximum Effort (1) Quarterly Total Revenue(1) US$ in Millions 2024 2025 2026 87.1 82.5 73.7 68.5 70.0 64.2 59.1 51.2 53.4 40.5 Q1 Q2 Q3 Q4 YoY Growth 17% 46% 25% 36% 34% 34% 21% 40% 31% 36% 34% 36% 22 1. Adjusts revenue for periods prior to April, 1 2025 to exclude the rev
Slide 23: Strong Margin Expansion
Strong Margin Expansion Gross Profit Margin Adjusted EBITDA(1) US$ in Millions 2024 2025 2026 2024 2025 2026 28.1 81.5% 80.3% 82.1% 76.8% 78.9% 76.8% 69.6% 71.7% 69.3% 65.7% 21.5 20.7 16.3 16.0 14.5 10.5 9.4 7.6 0.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Margin(1) - 15% 22% 14% 21% 26% 18% 23% 18% 30% 32% Note: 1.
Slide 24: Appendix
Appendix 24
Slide 25: Q2 2026 GAAP Financial Information
Q2 2026 GAAP Financial Information 25
Slide 26: Q2 2026 Adjusted EBITDA Reconciliation
Q2 2026 Adjusted EBITDA Reconciliation 26
Slide 27: Quarterly Adjusted EBITDA Reconciliation
Quarterly Adjusted EBITDA Reconciliation EBITDA / Adjusted EBITDA (in 000s) 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Net income (loss) (15,699) (9,274) (3,884) (4,020) (21,111) (26,228) 6,436 34,477 8,762 6,720 Interest (income) expense, net 2,943 1,769 1,085 1
Slide 28: mntn
mntn