Disclaimer2ThispresentationisbeingprovidedsolelybyExelaTechnologies,Inc.(togetherwithitssubsidiaries,“Exela”),andisbeingprovidedsolelyforinformationalpurposeswithrespecttoaproposedtransaction(the“Transaction”)betweenXBPEurope(“XBPEurope”)andCFAcquisitionCorp.VIII(“CFVIII”).Youshouldnotrelyuponoruseittoformthedefinitivebasisforanydecisionoractionwhatsoever,withrespecttoanyproposedTransactionorotherwise.TheinformationcontainedinthispresentationhasbeenprovidedbyExelawithoutanyrepresentationorwarrantyastotheaccuracyorcompletenessofsuchinformation.NoneofExela,CFVIII,oranyoftheirrespectiveaffiliatesoragents,makeanyrepresentationorwarranty,expressorimplied,inrelationtotheaccuracyorcompletenessoftheinformationcontainedinthisdocumentoranyoralinformationprovidedinconnectionherewith,oranydataitgeneratesandexpresslydisclaimanyandallliability(whetherdirectorindirect,incontract,tortorotherwise)inrelationtoanyofsuchinformationoranyerrorsoromissionstherein.Anyviewsortermscontainedhereinarepreliminary,andarebasedonfinancial,economic,marketandotherconditionsprevailingasofthedateofthisdocumentandaresubjecttochange.NeitherExelanorCFVIIIundertakeanyobligationsorresponsibilitytoupdateanyoftheinformationcontainedinthisdocument.Pastperformancedoesnotguaranteeorpredictfutureperformance,andtherecanbenoassurancesthatXBPEuropewillachievetheresultscontemplatedbythispresentation. Thispresentationcontainsstatementsaboutfutureeventsandexpectations,whichare“forward-lookingstatements.”Suchforward-lookingstatementsinclude,butarenotlimitedto,statementsregardingtheclosingofthetransactionandCFFE’s,XBPEurope’s,ortheirrespectivemanagementteams’expectations,hopes,beliefs,intentionsorstrategiesregardingthefuture.Thewords“anticipate”,“believe”,“continue”,“could”,“estimate”,“expect”,“intends”,“may”,“might”,“plan”,“possible”,“potential”,“predict”,“project”,“should”,“would”andsimilarexpressionsmayidentifyforward-lookingstatements,buttheabsenceofthesewordsdoesnotmeanthatastatementisnotforward-looking.Suchforward-lookingstatementsandanyotherforward-lookingstatementsmadehereininvolveknownandunknownrisks,uncertaintiesandotherfactors,whichmaycauseactualresultsofXBPEuropetobemateriallydifferentfromanyfutureresults,performanceorachievementsexpressedorimpliedbysuchforward-lookingstatements.Norepresentationorwarranty,expressorimplied,ismadeastotheaccuracyorcompletenessofsuchinformation.Suchforward-lookingstatementsareinherentlyuncertain,andactualresultsmaydifferfromexpectationsandpastperformanceforavarietyofreasons,includingthosesetforthinExela’spublicfilings.Manyfactorscouldcauseactualfutureeventstodifferfromtheforwardlooking-statementsinthispresentation,includingbutnotlimited,to(i)theriskthatthetransactionmaynotbecompletedinatimelymanneroratall,(ii)thefailuretosatisfytheconditionstotheconsummationofthetransaction,includingtheapprovalbythestockholdersofCFVIIIandthereceiptofcertaingovernmentalandregulatoryapprovals,(iii)theoccurrenceofanyevent,changeorothercircumstancethatcouldgiverisetotheterminationoftheMergerAgreement,(iv)theoutcomeofanylegalproceedingsthatmaybeinstitutedagainstXBPEuropeand/orCFVIIIrelatedtotheMergerAgreementorthetransactionscontemplatedthereby,(v)theabilitytomaintainthelistingofCFVIIIstockonNasdaq(or,ifapplicable,tolistandmaintainthelistingofthecombinedentityontheNYSE),(vi)volatilityinthepriceofCFVIII’ssecurities,(vii)costsrelatedtothetransactionsandthefailuretorealizeanticipatedbenefitsofthetransactionsortorealizeestimatedproformaresultsandunderlyingassumptions,(viii)theeffectoftheannouncementorpendencyofthetransactiononXBPEurope’sbusiness relationships,operatingresults,performanceandbusinessgenerally,(ix)risksthatthetransactionsdisruptcurrentplansandoperationsofXBPEurope,(x)changesinthecombinedcapitalstructureofXBPEuropeandCFVIIIfollowingthetransactions,(xi)changesinthecompetitiveindustriesandmarketsinwhichXBPEuropeoperatesorplanstooperate,(xii)changesinlawsandregulationsaffectingXBPEurope’sbusiness,(xiii)theabilitytoimplementbusinessplans,forecasts,andotherexpectationsafterthecompletionofthetransactions,andidentifyandrealizeadditionalopportunities,(xiv)risksrelatedtoXBPEurope’spotentialinabilitytoachieveormaintainprofitabilityandgeneratecash,(xv)currentandfutureconditionsintheglobaleconomy,includingasaresultoftheimpactoftheCOVID-19pandemicandpotentialenergyshortagesinEurope,andtheirimpactonXBPEurope,itsbusinessandmarketsinwhichitoperates,(xvi)theabilityofXBPEuropetoretainexistingcustomers,(xvii)thepotentialinabilityofXBPEuropetomanagegrowtheffectively,and(xviii)theabilitytorecruit,trainandretainqualifiedpersonnel. CFVIIIintendstofileaproxystatementandotherdocumentsregardingtheTransactionwiththeSecuritiesandExchangeCommission(the“SEC”).Thesefilingswillidentifyandaddressimportantrisksanduncertaintiesthatcouldcauseactualeventsandresultstodiffermateriallyfromthosecontainedintheforward-lookingstatements.Forward-lookingstatementsspeakonlyasofthedatetheyaremade.Readersarecautionednottoputunduerelianceonforward-lookingstatements,andneitherCFVIIInorExelaassumeanyobligationto,anddonotintendtoupdateorrevisetheseforward-lookingstatements,whetherasaresultofnewinformation,futureevents,orotherwise.NosecuritiesregulatoryauthorityhasexpressedanopinionabouttheTransactioncontemplatedinthispresentationoranyrelatedsecurities,anditisanoffensetoclaimotherwise.Thispresentationisnotaproxystatementorsolicitationofaproxy,consentorauthorizationwithrespecttoanysecuritiesorinrespectofthepotentialtransactionandshallnotconstituteanoffertosellorasolicitationofanoffertobuythesecuritiesofCFVIII,XBPEurope,orExela,norshalltherebeanysaleofanysuchsecuritiesinanystateorjurisdictioninwhichsuchoffer,solicitation,orsalewouldbeunlawfulpriortoregistrationorqualificationunderthesecuritieslawsofsuchstateorjurisdiction.NoofferofsecuritiesshallbemadeexceptbymeansofaprospectusmeetingtherequirementsoftheSecuritiesActof1933,asamended.Recipientsofthispresentationshouldnotconstruethecontentsofthispresentationaslegal,tax,orfinancialadvice.Eachrecipientshouldconsultitsprofessionaladvisorsastothelegal,tax,financialorothermatterssetforthinthispresentationand,byacceptingthispresentation,therecipientconfirmsthatitisnotrelyingupontheinformationcontainedhereintomakeanydecision.

3XBP EUROPE AT A GLANCE WhereThe Companyis able to deploy its solutions to clients in any EMEA market thanks to its cloud basedstructure. The Company’s physical footprintspans15countries with 34 locationswithastrongassetlightfinancialmodelandsignificant operatingleverage.WhatAsaleaderinbillsandpayments,theCompanyprovidesbusinessprocessmanagementsolutionswithsoftwaresuitesanddeepdomainexpertise,servingasatechnologyandoperationspartnerforitsclients’strategicjourneys.TheCompanyservicesover2,000clientsacrossEurope,comprisedoflongstandingrelationshipswithmanybluechipcompaniesdeliveringmissioncriticalinformationwithdecadesoftechnicalknow-how.WhoXBPEurope(“theCompany”)isapan-Europeanintegratorofbillsandpayments.Withanextensivenetworkreachingthemajorityofpopulationsinkeymarkets,theCompany’sname-exchangeforbillsandpayments(“XBP”)–illustratesitsessence;itconnectsbuyersandsuppliers,acrossindustriesandsizes,tooptimizeclients’billsandpaymentsprocessestoadvancedigitaltransformation,improvemarketwideliquidity,andencouragesustainablebusinesspractices. WhyThe transaction creates a separately capitalized European business to leverage public markets to propel the Company’s growth plans. ExelaTechnologies, Inc. will remain the majority indirect owner of the Company post-closing, and the transaction is in line with Exela’spreviously announced capital deployment strategy.

PROPRIETARY&CONFIDENTIAL XBP Europe –Solutions Reach Majority of Population in Key Markets4 United Kingdom(population 67million)~100%ofallcheckpaymentsarchivedorprocessedSweden(population 10million)~7millionindividualsand500,000+companiesusebankgiroprocessed by XBPIreland(population 5million)process~95%ofallpaymentsbycheckNorway(population 5million)process100%of bank giro2 Germany(population 83 million) technology is used to support ~63 million online banking customers Pan - European Presence 15countries134locations 1.Where team members are based2.European electronic funds transfer system

5XBP EUROPE METRICS FY2021Revenue$206mClients2,000+ 40%WesternEurope28%CentralEurope19%UK&Ireland13%NorthernEurope Bills and Payments81%Hardware~4% 18%Top2-10 12%Top 11 -20 19%Top 21-50 47%AllOther 3%-Top clientClientConcentrationServices & ProductsGeography Software License& Maintenance~15% Technology~19%

6XBP EUROPE TRAJECTORY Gross Profit Margin1 Today’s Gross Profit Margin can be expanded as follows: Contribution Margin Increased Software Sales Mix 60% Operational Leverage (increased capacity utilization) 40-45% Cost Savings and Automation Impact 85-100% Presented on an organic basis excluding any M&A Business OpportunityIncreasedSoftwareSalesMixDoublesoftwarerevenuefrom15%to30%oftotalrevenue,overtime(60%ContributionMargin),drivenbyplatformsincludingbutnotlimitedto:•ExchangeforBillsandPayments(XBP)•DigitalMailroom•ConfirmationofPayeeOperationalLeverage(capacityutilization)DoublecapacityutilizationinBillsandPaymentsto1)increaserevenuegrowth,and2)yieldgreateroperatingleverage(40-45%ContributionMargin).•Noadditionalinvestmentinoperationalsupport,otherthanvariablepersonnelcoststiedtoservicesrevenuegrowth.CostSavingsandAutomationImpactContinuedrealizationofcostsavingsfromfacilityconsolidationandautomationstrategy.•Work-From-AnywhereplatformforIntelligentDocumentProcessingprovidesawebapptoadddatacapturevalidationfromusersthatcanworkfromanywhere,anytime. 35-40% Long-term Pro Forma Targeted Gross Profit Margin1. Total Revenues less cost of goods sold