Anghami SPAC Presentation Deck

TRANSACTION SUMMARY VISTAS MEDIA ACQUISITION COMPANY anghami Anghami to be merged with Vistas Media Acquisition Company INC ("VMAC"2), a publicly listed special purpose acquisition company with $100M cash in trust Valuation at 2.5x 2022E revenue Transaction includes a $110M pro-forma PIPE • Pro forma enterprise value of $219.5M² Current Anghami shareholders own 33% of the company on a pro-forma basis PRO-FORMA SOURCES & USES USES Anghami consideration¹ Transaction Expenses Cash to the balance sheet Total Uses SOURCES Cash in Trust PIPE Proceeds Anghami Rollover Equity Total Sources $100M $110M $119M $329M PRO-FORMA ANGHAMI VALUATION Shares Outstanding Price per Share Market Capitalization (-) Cash Enterprise Value² $36.2M $10 ~$362M $142.4M $219.5M SPONSOR PUBLIC FROM IPO PIPE INVESTORS -33% -$362M market capitalization -28% ANGHAMI ROLLOVER EQUITY Assumes no redemptions by public shareholders in connection with the transaction and does not take into account interest income in SPAC trust account. 1 The mix of cash and equity paid to Anghami depends on the amount of cash in trust net of redemptions, the amount of capital raised in the PIPE and the transaction costs. The amount of equity rolled over by existing Anghami investors ranges from ~66% (no redemptions and $11OM PIPE) to -94% ( full redemptions and $40M PIPE) 2 Due to the structure of the transaction, regardless of the redemptions and PIPE proceeds, the enterprise value remains fixed at approximately $220M. Source: Management Estimates 45 $180M $6.6M -30% $142.4M $329M ~9% Ell

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