Cannae Investor Presentation – First Quarter 2024

CANNAE VALUE CREATION PLAYBOOK

Cannae leverages Foley's and managements' value creation playbook that was developed over a nearly 40-year track record of operating and investing in world class businesses and delivering shareholder value.

CNNE BY THE NUMBERS*

William P. Foley II ("Bill Foley" or "Foley") is responsible for the growth of ~$89B in publicly traded companies(2) to date.

• Throughout his career, Foley developed his value creation framework(3) to identify and execute investments and drive value for shareholders.
• Foley has consistently accelerated growth and improved operating margins as well as executed strategic M&A and exceeded cost reduction targets on acquisitions.
• Foley is also the Majority Owner, Chairman, CEO and Governor of the National Hockey League's 31st franchise, the Vegas Golden Knights, the American Hockey League's Henderson Silver Knights, and other companies.

Source: Public company filings and market data as of 05/09/2024

1. ICE acquired BKI in September 2023 at an enterprise value of $11.9B.
2. Companies include FIS, FNF, BKI, DAY, DNB, FG, PSFE, ALIT, SST and CNNE
3. See pg. 7

Strong track record delivering value…

…and overachieving targeted savings ($M)

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RYAN CASWELL

President

• President of Cannae since February 2023
• SVP of Corporate Finance for Cannae from 2020-2023
• Managing Director at BofA Securities, from 2008 - 2020
• Before BofA Securities, Mr. Caswell was an investment banker at Bear Stearns
• Serves or has served as a Board member or advisor for Amerilife, CorroHealth, Black Knight Football entities, System1 and Triple Tree Holdings

BRYAN D. COY

Chief Financial Officer

• CFO of Cannae since 2020
• CFO of the Vegas Golden Knights, the Henderson Silver Knights, and the related arenas from 2017-2021
• Chief Accounting Officer at Interblock Gaming from 2015- 2017
• CFO of Aruze Gaming America, 2010-2015
• Served in senior finance positions at Fontainebleau Resorts, Shuffle Master, Sunterra, and eSchool Solutions, 2000-2010

MICHAEL L. GRAVELLE

EVP, General Counsel

and Corporate Secretary

• General Counsel of Cannae since 2017
• Executive Vice President, General Counsel, and Corporate Secretary of FNF since 2010
• Executive Vice President, General Counsel of BKI from 2014-2023
• Executive Vice President, General Counsel of FIS from 2010-2013

ALEXANDER CINIELLO

VP, Corporate Finance

• VP of Corporate Finance at Cannae since 2020
• Leads Cannae and Black Knight Football Club's M&A and due diligence efforts
• Currently serves as a Board Member for WineDirect
• Previously a Vice President at Citi from 2014-2020
• 10 years of sports M&A experience

Strong Leadership at Portfolio Companies

ANTHONY JABBOUR

Chief Executive Officer

STEPHAN SCHOLL

Chief Executive Officer

BRUCE LOWTHERS

CEO & Executive Director

MICHAEL BLEND

CEO & Co-Founder

DAVID OSSIP

Chairman and CEO

NEILL BLAKE

Chief Executive Officer

Foley Created

Playbook at FNF

Metric driven management

Industry consolidation and enhancing execution

Recruitment of

C-Suite talent

Diversification, streamlining, and continued growth

Proven results

• In 1984, Foley acquired Fidelity National Title for $3M when it was ranked 48th in the country among title insurance companies and had revenue of $6M(1)
• First to bring performance metric driven management to the title insurance industry
• Focused on operating profit optimizationacross economic cycles
• A track record of consolidation, while also creating highly efficient, market leading companies
• • Acquired Chicago Title Insurance Company, creating the nation's largest title insurer
  • Led hundreds of acquisitions since initial acquisition
• Industry leading title margins over multi-decade economic cycles
• Mr. Foley recruited and mentored future industry leaders and all executive officers
• Includes FNF's current Vice Chairman Raymond Quirk and Chief Executive Officer Mike Nolan
• Continued growth with additional strategic acquisitions such as:
• Diversified investmentsincluding:
• FNF is now thenation's largest title insurance and settlement services company
• • #1 market share in the residential purchase, refinance, and commercial markets (2)
  • FNF average pre-tax title margins of ~16% over the last decade compared to competitor average margins of ~10% during the same period(2)

Playbook

Identify Value Enhancements

• Cost savings
• Strategy shifts
• Elimination of siloed organizational structures
• Product expansion

Exploit Full Operating Tool Kit

• Pricing
• Sales force efficiency / cross-selling
• Marketing optimization

World Class Talent

• Seasoned executive team
• Alignment of interests
• Clear goals for management & Board of Directors

Invest for Growth

• New products
• New markets

Acquisitions

• Strategic & synergistic acquisitions
• Transformative transactions

Large Addressable Market with Significant Market Share

• #1 market leading title insurer in the

United States, covering ~31%(1) all real estate transactions which provides immense scale advantage

• Leading provider of software, data and

analytics that is heavily relied upon by the top 25 mortgage loan institutions

• Major provider of technology solutions in financial markets

• Global provider of business decision data and analytics
• Leading cloud-based provider of integrated digital human capital and business solutions

• Critical infrastructure and

mission-critical solutions

• Deeply embedded into clients' systems

• Strong software and proprietary data

• Proprietary data and analytics that flow

through their ecosystem of high-performance mortgage lending and servicing software solutions

• Vital industry utility providing key products and

services critical to the functioning of the U.S. residential and commercial real estate markets

• Execute on opportunities to realize long-term growth potential of undervalued assets in industries with compelling growth characteristics
• Achieved and maintains industry

leading margins and grew from the 48th largest title insurer to the largest in the nation

• Strong public market growth, going from ~$2.5B market cap in 2006 to ~$41.0B today
• Grew from $2.5B enterprise value at

2015 IPO to $11.9B in recent buyout

• A legacy paper-based payroll company, transformed to cloud-based SaaS, with total revenues increasing ~159% to ~$1.7B(2) from 2017 to 2024

1. See FNF's Spring Investor Presentation
2. Figure represents Dayforce's 2024 total revenue outlook.

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