Page 59 - Investing in the Praetura Group
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             Significant Upside











             Praetura expects to build the business to £20m EBITDA in
             2023.



             Investors in Group will also have embedded interests in the
             Ventures ‘Carry’. This is detailed in Valuation section.


             The core businesses have performed to plan since they were
             co-founded by the Partners of Praetura.


             Significant upside available from inception of additional
             business units, incremental AUM or acquisitions.



             Additionally, investor equity ranks ahead
             of Praetura Partners’ equity on distributions,
             limiting downside risk.
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