Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 326

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 326
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|                                    | Year | Pre-Commercialization | 2024 |     |    |     2025 |   |     |    |     2026 |   |     | Commercialization |     2027 |   |     |   |      2028 |     |   |      2029 |
|:-----------------------------------|:-----|:----------------------|-----:|:----|:---|---------:|:--|:----|:---|---------:|:--|:----|:------------------|---------:|:--|:----|:--|----------:|:----|:--|----------:|
| Unlevered Free Cash Flow(1)        |      |                       |    — |     | ($ |   20,948 | ) |     | ($ |   22,644 | ) |     | ($                |   54,740 | ) |     | $ |   188,345 |     | $ |   504,537 |
| Discount Period                    |      |                       |  0.0 |     |    |      0.5 |   |     |    |      1.5 |   |     |                   |      2.5 |   |     |   |       3.5 |     |   |       4.5 |
| Discount Factor                    |      |                       |  0.0 |     |    |     0.91 |   |     |    |     0.77 |   |     |                   |     0.64 |   |     |   |      0.54 |     |   |      0.45 |
| Present Value of Free Cash Flow(1) |      |                       |    — |     | ($ | 19,162.9 | ) |     | ($ | 17,333.9 | ) |     | ($                | 35,065.7 | ) |     | $ | 100,963.8 |     | $ | 226,327.6 |

| (1) | Values in thousands of US Dollars. |

| Enterprise Value                |     |   |           |
|:--------------------------------|:----|:--|----------:|
| Cumulative Present Value of FCF |     | $ |   255,729 |
| Terminal Value                  |     |   |           |
| Terminal Year EBITDA (2029E)