Pagaya Technologies (EJF Acquisition) ^{Priced, Nasdaq: PGY}

We are a newly incorporated blank check company. Through our sponsor, we are affiliated with EJF Capital, an alternative asset manager, with approximately $9 billion in net assets under management, including $3.3 billion of collateral management assets. While we may pursue an initial business combination target in any industry, our thesis-driven investment strategy will focus our efforts in the financial services industry. We will target financial services companies with products, services and technologies that support, enable or compete in the regulated and unregulated sectors where EJF has historically invested including banking, insurance, asset management, specialty lending and real estate finance. We currently intend to concentrate our efforts in identifying businesses with an equity value of approximately at least $1 billion. We believe that there are many potential targets within financial services that could become attractive public companies. These potential targets exhibit a broad range of business models and financial characteristics that range from high growth innovative companies to more mature businesses with established franchises, recurring revenues and strong cash flows.