Company: CTLPP
Filing Date: 2025-08-22
Form Type: DEFA14A
Source: 0001140361-25-032369
Chunk: 6

Company: CANTALOUPE, INC.
Filing Date: 2025-08-22
Form: DEFA14A
Chunk 6
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jections. The analysis derived the following ranges of implied equity value per share of common stock (rounded to the nearest $0.25):

| Metric                        |     | Implied Equity 
 Value          
 per Share      |               |
|:------------------------------|:----|:---------------|:--------------|
| FV/2025E Adj. EBITDA Multiple |     | $              | 7.75 – $10.00 |
| FV/2026E Adj. EBITDA Multiple |     | $              | 8.50 – $12.25 |
| FV/2026E uFCF Multiple        |     | $              | 5.50 – $10.50 |

J.P. Morgan compared these ranges to (i) the unaffected share price of common stock of $8.37 on May 30, 2025 and (ii) the merger consideration of $11.20 per share of common stock. The disclosure in the section titled “ The Merger—Opinion of Cantaloupe’s Financial Advisor—Selected Transactions Analysis”, beginning on page 48 of the Proxy Statement, is hereby amended in its entirety as follows (with new text underlined and deleted text marked with a strikethrough): Selected Transactions Analysis.Using publicly available information, J.P. Morgan examined selected public transactions involving businesses which J.P. Morgan judged to be similar to Cantaloupe’s business (or aspects thereof). The following transactions were selected by J.P. Morgan as relevant to the evaluation of the proposed Merger:

| Announcement Date 
 April 17, 2025    
 April 1, 2024     |     | Acquiror                         
 Global Payments Inc.             
 Advent International             |     | Target                
 Worldpay              
 Nuvei Corporation     |
|:------------------|:----|:---------------------------------|:----|:----------------------|
| June 9, 2023      |     | Brookfield Asset Management Ltd. |     | Network International |
| March 15, 2023    |     | Sixth Street and BGH Capital     |     | Pushpay Holdings Ltd  |
| January 9, 2023   |     | Nuvei Corporation                |     | Paya Holdings Inc.    |
| August 1, 2022    |     | Global Payments Inc.             |     | EVO Payments, Inc.    |

None of the selected transactions reviewed was identical to the proposed Merger. However, the selected transactions were chosen because