Shift4 Payments — Aug 8, 2024 release

On that note, this past quarter we completed the acquisition of the previously announced Revel transaction. Revel provides talent, distribution and billions in payment volume to cross sell and eventually move to SkyTab. We expect Revel, which historically has been a cash burner, to deliver ~$15 million of EBITDA in the back half of 2024 and be deleveraging inside of 24 months. Also, after more than 18 months of work, we announced the acquisition and the majority closing of Vectron. This deal really highlights our M&A formula at its finest. The transaction provides massive scale in support of our European expansion strategy. Vectron has over 65,000 installed restaurants and 300+ distribution partners across Europe. With the support of the management team, we will blow-up the revenue model, cross sell restaurant and hotel payments, enhance the value prop of their current offering and eventually pivot the customers to SkyTab. The hundreds of Vectron distribution partners may provide future opportunities to insource the best, in line with our past playbook, which will further enhance the unit economics of selling card present payments across Europe. I would challenge anyone to deploy dollars more efficiently while achieving a comparable market opportunity. While I appreciate investors want simplicity, as the largest shareholder, I am highly motivated to play to our strengths and take bold, calculated risks to win. Profitably winning at payments is hard, especially across multiple geographies