Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 500

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 500
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17 |   |      |
| Median          |     | $       | 3.16 |   |      |
| 25th Percentile |     | $       | 2.81 |   |      |
| Minimum         |     | $       | 2.29 |   |      |

Atlantic International Corp. - Discounted Cash Flow Analysis (Exit Multiple Terminal Value)

| ($ in thousands, except per share value) |      Min |       25th 
 Percentile |   Median |       75th 
 Percentile |      Max |
| Enterprise Value                         |  195,191 |    221,313 |  238,680 |    256,254 |  290,976 |
| Plus: Cash & Equivalents                 |      439 |        439 |      439 |        439 |      439 |
| Less: Debt                               |  -81,257 |    -81,257 |  -81,257 |    -81,257 |  -81,257 |
| Total Common Equity Value:               | $114,374 |   $140,495 | $157,863 |   $175,436 | $210,159 |
| Shares Outstanding (Basic)               |   48,729 |     48,729 |   48,729 |     48,729 |   48,729 |
| Shares Outstanding (Diluted)             |   50,029 |     50,029 |   50,029 |     50,029 |   50,029 |
| Price Per Share (Basic)                  |    $2.35 |      $2.88 |    $3.24 |      $3.60 |    $4.31 |
| Price Per Share (Diluted)                |    $2.29 |      $2.81 |    $3.16 |      $3.51 |    $4.20 |

| Value of Atlantic International Corp. Common Stock |

Annex B-22

Market-Based Approach — Guideline Public Companies Below, we provide capital market, performance and trading multiple data on guideline publicly -tradedcompanies that we deem reasonable for valuation of Parent Company Common Stock, based upon industry, operation and other similarities. None of the selected companies reviewed is identical to the Parent. However, the companies were selected, among other reasons, because they are publicly traded companies with operations and businesses that, for the purposes of