Teamshares, a Tech-Enabled Acquiror of High-Quality SMEs, to List on Nasdaq via Live Oak V Combination; $126 Million PIPE Led by Accounts Advised by T. Rowe Price Investment Management, Inc.

• Part holdco, part fintech, Teamshares programmatically acquires companies with $0.5 to $5 million of EBITDA from retiring owners, integrates them with the Teamshares platform, and helps employees earn company stock

• Teamshares’ acquisition-based business model aims to drive predictable, repeatable growth and scale through financial technology

• Among the largest SME acquirors, Teamshares aims to become a permanent home for thousands of SMEs with strong cash flow conversion as three million SME owners in the U.S. approach retirement age

• Supported by a $126 million common equity PIPE anchored by accounts advised by T. Rowe Price Investment Management, Inc., with participation from other institutional investors and management, which will provide up to $333 million of primary proceeds inclusive of the trust account of Live Oak V, assuming no redemptions by Live Oak V’s public shareholders and after accounting for transaction expenses

• Teamshares is backed by leading VCs, including Khosla and USV, with existing shareholders rolling 100% into the combined public company

• Proceeds from the business combination are expected to help accelerate Teamshares’ opportunity to scale as a market-defining leader with public company capital access