Company: IMXI
Filing Date: 2025-11-05
Form Type: DEFM14A
Source: 0001140361-25-040538
Chunk: 104

Company: International Money Express, Inc.
Filing Date: 2025-11-05
Form: DEFM14A
Chunk 104
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2016         |     | Apollo Global Management, LLC       |     | Outerwall Inc.                 |

None of the target companies in the selected transactions is directly comparable to Intermex and none of the selected transactions is directly comparable to the Merger, and certain of these selected transactions and target companies may have characteristics that are materially different from those of the Merger and Intermex, respectively. Based on its professional judgment and experience, Lazard believes that purely quantitative analyses are not, in isolation, determinative in the context of the transaction and that qualitative judgments concerning differences between the terms of the Merger and the business, financial and operating characteristics and prospects of Intermex and the selected transactions and target companies that could affect the transaction multiples and transaction values of each selected transaction and target company are also relevant. For each of the selected transactions, Lazard calculated the transaction value (defined as the target company’s implied equity value based on the consideration paid in the applicable transaction plus total debt, plus preferred equity and noncontrolling interest, less cash and cash equivalents), based on information in public filings, press releases and investor relations documents, as a multiple of the next Calendar Year Adjusted EBITDA for the target company at the time of the announcement of the applicable transaction, which Lazard refers to as “CY1 Adjusted EBITDA”. The financial data for the selected transactions and target companies were based on public filings and other publicly available information. The results of this analysis are summarized in the following table:

| Benchmark                |     | Low  |     | High  |
| EV / CY1 Adjusted EBITDA |     | 4.6x |     | 16.1x |

Based on its professional judgment after taking into account, among other things, such observed multiples for each of the selected transactions, Lazard selected an enterprise value / CY1 Adjusted EBITDA multiple reference range of 4.5x – 8.0x and applied this multiple reference range to Intermex’s estimated Adjusted EBITDA for fiscal year 2025 and subtracted from it Intermex’s net debt of $0 as of June 30, 2025, based on information provided by Intermex’s management, and divided by the number of fully diluted outstanding shares of our common stock (determined using the treasury stock method), based on information provided by Intermex’s management with respect to dilutive securities outstanding as of August 4, 2025. The results of this analysis implied