Shift4 completes Up-C collapse; eliminates ~$440M TRA liability and removes Isaacman's majority voting control

Shift4 Payments, Inc.

• Jared Isaacman exchanged all Class C shares for Class A shares and Rook redeemed 19.8M common units for Class A shares, cancelling Class B shares.
• Company relieved of estimated $440M future TRA payments; Rook assigned all TRA rights to Shift4 and waived any tax benefit payments.
• Consideration to Isaacman/Rook: $138.8M cash, 423,296 mandatory convertible preferred shares, and deemed satisfaction of 4Shares program commitment.
• Isaacman agreed to a five-year non-compete and will negotiate a return to service after his NASA Administrator term ends.
• Transaction eliminates Rook's majority voting power and removes certain Stockholders Agreement provisions.