Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 484

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 484
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 Transactions materialize. Under this engagement, we have been commissioned to prepare an independent Fairness Opinion assessing the financial adequacy of the Merger Consideration in the contemplated Merger between the Company and the Parent received by the holders of shares of Company Common Stock entitled to receive such Merger Consideration. This report was prepared exclusively for the purpose of assisting the Board in the evaluation of the proposed Merger and does not constitute a recommendation to the Company’s shareholders to accept or reject the proposed Merger. ____________ 2The management of the Company has instructed us that, for this analysis, we should assume that the exchange ratio remains constant under both scenarios at 1.2021

| Introduction |

Annex B-1

When preparing this Fairness Opinion, we relied on the accuracy and completeness of the information provided to us by the management of the Company and Parent. We further assume that all the material and documents provided to us were prepared professionally and represent a full and accurate assessment of the proposed Merger. In providing this Fairness Opinion, we were not asked, nor did we conduct, an audit or legal analysis. Additionally, we did not consider the tax or legal implications of the financial adequacy of the Merger Consideration at the individual investor level for the holders of the Company Common Stock. We do not express any view on, and our opinion does not address, the fairness of the proposed transaction to, or any consideration received in connection therewith by, the holders of any other securities, creditors or other constituencies of the Company, nor as to the fairness of the amount or nature of any compensation to be paid or payable to any of the officers, directors or employees of the Company, or any class of such persons, whether relative to the Merger Consideration or otherwise.

| Introduction |

Annex B-2

SOURCES OF INFORMATION In preparing this Fairness Opinion, we relied upon the following information: •The Agreement and Plan of Merger by and among Atlantic International Corp., A36 Merger Sub Inc., and Staffing 360 Solutions, Inc. as of October 2024 •Annual Reports on Form 10 -Kof Staffing 360 Solutions for the five fiscal years ended December30, 2023 •Preliminary Prospectuses of Atlantic International Corp. •Certain Quarterly Reports on Form 10 -Qof Staffing 360 Solutions and Atlantic International Corp. •Certain proxy statements from Staffing 360 Solutions and Atlantic International Corp. •Certain other publicly available communications from Staffing 360 Solutions and