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Fiume Capital and Juggernaut Capital Partners Acquire Thrill One Sports & Entertainment

Dyrdek Machine and Dana White Join as Co-investors in the World’s Leading Action Sports Platform

Costa Mesa, CA – July 19, 2022 – Fiume Capital and Juggernaut Capital Partners have announced their
acquisition of Thrill One Sports & Entertainment (Thrill One) from The Raine Group and Causeway
Media Partners. Dyrdek Machine, UFC President Dana White and television producer Craig Piligian
have co-invested, with acquisition financing provided by Prudential Private Capital.

Thrill One was formed in 2020 by uniting industry-leading brands Nitro Circus, Nitro Rallycross (Nitro
RX), Street League Skateboarding (SLS) and Thrill One Media (formerly Superjacket Productions) to
become the world’s leading producer of action sports events and original content. The latter two of these brands were both founded by entrepreneur Rob Dyrdek, who also participated in the acquisition as a co-
investor via his venture creation business, Dyrdek Machine.

“We formed Thrill One to create a centralized action sports platform for athletes, brands and fans,” said
Thrill One CEO Joe Carr. “We have aggregated the largest audience and community in the space, and I
am beyond excited to partner with this group of investors and individuals who have built businesses and
entire sports from the ground up. The additional resources will fuel the growth and expansion of this
platform.”

Fiume and Juggernaut are again teaming up in a vertical that is primed for opportunistic M&A and further
consolidation. The firms have partnered in 3 STEP Sports to create the largest youth sports operating
platform in the country. Fiume’s expertise in sports and media coupled with Juggernaut’s consumer
focus will bring additional value to the company and continue to focus on serving the interests of a young,
passionate fan base. The resources and capital of the new ownership group will allow Thrill One to
pursue organic growth initiatives and strategic acquisitions, which have been a key part of the company’s
roadmap since its inception.

“Our investment approach is predicated on supporting excellent management teams as they build premier
businesses in their respective industries,” said David Hirschfeld, CIO for Fiume. “Thrill One is the leader
in action sports and we are excited to help the company and its management team at this inflection point.”

“Thrill One has exploded onto the scene in the last two years,” said John Shulman, Founder and
Managing Partner of Juggernaut Capital Partners. “Our considerable investment demonstrates our belief
that there is much more to come in this category, and we are eager to support Thrill One in its meteoric
rise.”

Building on the momentum of its highly successful US tour in 2021 and appearances on TBS’ “Go Big
Show” and NBC’s “America’s Got Talent Extreme,” Nitro Circus Live is expanding its global presence in
2022 by adding stops in Australia, New Zealand and Canada as part of a 40-date world tour. The brand
will also host its world championship of action sports, Nitro World Games, this October in Brisbane,
Australia.

Nitro Rallycross, a disruptive new force in motorsport, made its series debut last year and is expanding to
a 10-race global run across three continents for the 2022-23 season. Nitro RX is also launching the
revolutionary FC1-X electric supercar, the most powerful rallycross vehicle ever built, making it the first
US-based series to go fully electric.

“I’ve been a big fan of the Nitro guys for a while now,” said Dana White, president of the Ultimate
Fighting Championship. “They are always doing the most insane stuff and constantly raising the bar.
The potential reminds me of the early days of UFC.”

SLS, the pinnacle of professional skateboarding, will return to indoor arenas this season for the first time
in three years. The Championship Tour will showcase 50 of the world’s best male and female street
skateboarders including Olympic medalists and former world champions. Each stop will also feature a
unique, custom-built concrete skate plaza, an element that has differentiated SLS from its peers for over a
decade.

Thrill One Media continues to build on its legacy of hit television programs like “Ridiculousness,” “The
Dude Perfect Show,” and “Rob & Big,” and has several unscripted titles currently in development. The
all-media production company will make a push into both scripted and competition formats later this year.
“It’s a dream come true to know that both SLS and Superjacket Productions are in such great hands with
Thrill One’s management team and are positioned for such a promising future with this transaction,” said
Rob Dyrdek. “I look forward to continuing to partner with this incredible group of investors in creating
game-changing content and redefining action sports.”

In 2022, the Thrill One portfolio will collectively host more than 70 live events, deliver roughly 100
hours of live sports content and produce over 300 episodes of linear television. Thrill One boasts a
massive social audience with more than 40 million followers across its various channels. It recently
announced the largest sponsorship deal in action sports history with A SHOC Energy, making the energy
beverage brand the official energy partner of Thrill One.

Fiume Capital was advised by Milbank LLP, Juggernaut was advised by Morgan, Lewis & Bockius LLP
and Thrill One and The Raine Group were advised by Sidley Austin LLP.
Financing for the transaction was led and provided by Prudential Private Capital. CION Investment Corp.
and MGG Investment Group were also co-lenders in the financing.

About Thrill One Sports & Entertainment

Thrill One Sports & Entertainment is a next-generation content company that lives at the nexus of sports,
entertainment and lifestyle, combining the resources of Nitro Circus, Street League Skateboarding (SLS),
Nitro Rallycross (NRX) and Thrill One Media. A multi-media platform founded in 2020, Thrill One is
dedicated to creating mind-blowing action sports events and original content, fueled by the most daring
athletes, talent and brands in thrill-based entertainment. Thrill One Sports & Entertainment also boasts
one of the largest aggregate social audiences in action sports, with over 40 million followers across its
multiple brand pages and channels. Go to thrillone.com for additional information.

About Fiume Capital

Fiume Capital is a leading private investment firm targeting investments in media, entertainment, and
consumer sectors with a focus on sports, live events, and content and distribution. Comprised of
experienced entrepreneurs, operators and investors, Fiume Capital supports its management teams in
industries within the team’s expertise. Current or realized investments include Moonbug Entertainment,
the Action Network, and 3 STEP Sports.

About Dyrdek Machine

Dyrdek Machine is a venture creation studio that manufactures amazing companies by systematically
fusing art, science and magic. Founded by Rob Dyrdek, Dyrdek Machine provides expertise, capital and
amplification to visionary entrepreneurs destined to impact the world.

About Juggernaut Capital

Juggernaut Capital Partners is a leading private equity firm focusing on lower middle market companies,
primarily in the consumer and healthcare sectors. Juggernaut has a family of funds representing over $1
billion of capital commitments and is currently investing out of Juggernaut Capital Partners IV, L.P.
For more information on Juggernaut Capital Partners, please visit www.juggernautcap.com.