X0306 4 2019-06-10 1 0001728688 i3 Verticals, Inc. IIIV 0001742934 FRONT STREET EQUITIES, LLC C/O I3 VERTICALS, INC. 40 BURTON HILLS BLVD., SUITE 415 NASHVILLE TN 37215 0 0 1 0 0001310414 FIRST AVENUE PARTNERS II LP C/O I3 VERTICALS, INC. 40 BURTON HILLS BLVD., SUITE 415 NASHVILLE TN 37215 0 0 1 0 0001742971 FIRST AVENUE - ETC PARTNERS, L.P. C/O I3 VERTICALS, INC. 40 BURTON HILLS BLVD., SUITE 415 NASHVILLE TN 37215 0 0 1 0 Class B common stock, par value $0.0001 per share 2019-06-10 4 D 0 10085 D 6660 D Class B common stock, par value $0.0001 per share 2019-06-10 4 D 0 1577085 D 1041175 I By First Avenue Partners II, L.P. Class B common stock, par value $0.0001 per share 2019-06-10 4 D 0 282126 D 186257 I By First Avenue - ETC Partners, L.P. Common Units 2019-06-10 4 D 0 10085 21.61 D Class A common stock, par value $0.0001 per share 10085 6660 D Common Units 2019-06-10 4 D 0 1577085 21.61 D Class A common stock, par value $0.0001 per share 1577085 1041175 I By First Avenue Partners II, L.P. Common Units 2019-06-10 4 D 0 282126 21.61 D Class A common stock, par value $0.0001 per share 282126 186257 I By First Avenue - ETC Partners, L.P. Pursuant to the Amended and Restated Certificate of Incorporation of i3 Verticals, Inc. (the "Issuer"), the shares of the Issuer's Class B common stock, par value $0.0001 per share ("Class B Common Stock") are cancelled for no consideration on a one-to-one basis upon redemption of common units in i3 Verticals, LLC (the "Common Units") for shares of Class A common stock, par value $0.0001 per share ("Class A Common Stock") of the Issuer. Front Street Equities, LLC is the General Partner of, and exercises voting and investment power over shares held by, First Avenue Partners II, L.P. and First Avenue-ETC Partners, L.P. Voting and investment decisions at Front Street Equities, LLC are made by David Wilds, who serves as (a) the limited partner and managing member of First Avenue Partners II, L.P., (b) the managing member of First Avenue-ETC Partners, L.P., and (c) the sole member of Front Street Equities, LLC. Mr. Wilds disclaims beneficial ownership of these securities except to the extent of his respective pecuniary interest therein, if any, and the inclusion of these shares in his report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or any other purpose. The Common Units may be redeemed by the Reporting Persons at any time for an equal number of shares of Class A Common Stock or, at the election of i3 Verticals, LLC, cash equal to the volume-weighted average market price of such shares. Upon a Reporting Person's redemption of a Common Unit for Class A Common Stock, any corresponding share of Class B Common Stock will be cancelled. The Common Units have no expiration date. Represents the sale of Common Units to the Issuer pursuant to the Common Unit Purchase Agreement entered into in connection with the Issuer's offering of Class A common stock which closed on June 10, 2019, pursuant to the Limited Liability Company Agreement of i3 Verticals, LLC and in accordance with the Registration Rights Agreement among the Issuer and the signatories thereto, including the Reporting Persons. /s/ David Wilds, sole member of Front Street Equities, LLC 2019-06-12 /s/ David Wilds, limited partner and managing member of First Avenue Partners II, L.P. 2019-06-12 /s/ David Wilds, managing member of First Avenue - ETC Partners, L.P. 2019-06-12