Bridger Aerospace Group Holdings, LLC executed the letter of intent to acquire Jack Creek Investment Corp. (NasdaqCM:JCIC) from a group of shareholders in a reverse merger transaction on May 18, 2022. Bridger Aerospace Group Holdings, LLC entered into a definitive merger agreement to acquire Jack Creek Investment Corp. from a group of shareholders for approximately $720 million in a reverse merger transaction on August 3, 2022. The transaction values Bridger at $869 million on a pro forma enterprise value and is expected to infuse up to approximately $345 million of cash to the Company's balance sheet, assuming no redemptions by Jack Creek's public shareholders and before payment of transaction expenses. As of September 30, 2022, we had cash of $52,411 and we intend to use the funds complete the Business Combination with Bridger. Transaction will result in Bridger becoming a publicly traded company. Upon completion of the proposed combination, the combined company will be named Bridger Aerospace Group Holdings, Inc. and is expected to list on the NASDAQ Capital Market under the ticker symbol "BAER." Funds managed by Blackstone Tactical Opportunities, as an early investor in Bridger, will remain an equity holder in the Company and retain two Board seats. Post completion, existing Bridger shareholders will hold 63% stake in the combined company. Tim Sheehy will continue to lead Bridger as Chief Executive Officer. Jack Creek's Executive Chairman, Jeffrey Kelter become Chairman of Bridger's Board.

The consummation of the Transactions is subject to customary closing conditions for transactions involving special purpose acquisition companies, including, among others: (i) approval of the JCIC Shareholder Matters by JCIC's shareholders, (ii) the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, (iii) no order, statute, rule or regulation enjoining or prohibiting the consummation of the Transactions being in force, (iv) the Registration Statement having become effective, (v) the shares of New PubCo Common Stock and New PubCo Warrants to be issued pursuant to the Merger Agreement having been approved for listing on NASDAQ, (vi) JCIC having at least $5,000,001 of net tangible assets remaining after JCIC Shareholder Redemption and (vii) customary bring-down conditions. Additionally, the obligations of the Company and its subsidiaries and Blocker to consummate the Transactions are also conditioned upon, among others, (A) each of the covenants of each of the parties to the Sponsor Agreement (as defined below) required under the Sponsor Agreement to be performed as of or prior to the Closing having been performed in all material respects and (B) New PubCo having delivered to the Company executed copies of the Registration Rights Agreement and Stockholders Agreement and Regulatory Approvals. No PIPE is required to close the transaction. The Boards of Directors of both Bridger and Jack Creek have unanimously approved the proposed business combination, which is expected to be completed in the fourth quarter of 2022. As of December 16, 2022, the the registration statement (the “Registration Statement”) on Form S-4 has been declared effective by the Securities and Exchange Commission. The shareholders meeting of JCIC is scheduled on January 24, 2022 for the Extension Amendment Proposal by which JCIC has to consummate a business combination from January 26, 2023 to March 27, 2023. The shareholders meeting of JCIC is scheduled on January 10, 2023. The business combination is expected to close promptly after the Extraordinary General Meeting. Jack Creek held an extraordinary general meeting of its shareholders on January 24, 2023, at which its shareholders approved Jack Creek's business combination Bridger Aerospace Group Holdings, LLC. The transaction is expected to close by first quarter of 2023.

Geoffrey Levin, Michael P. Heinz, Beth E. Berg, David E. Mollo-Christensen, Heather M. Palmer, Maureen F. Gorsen, James Mendenhall, Howard J. Stanislawski, Cathryn Le Regulski, Thomas D. Cunningham, Sara M. von Althann, Edwin L. Norris, Bart J. Biggers, William R. Levi and Joshua DuClos of Sidley Austin LLP is serving as legal advisor and due diligence provider to Bridger. Jackie Cohen, Annemargaret Connolly, Devon Bodoh, Greg Featherman, Jackie Cohen, Karen N. Ballack, Michael E. Lubowitz, Michael Stein, Paul J. Wessel, John O'Loughlin, Matthew D. Morton, Naomi Munz, Olivia J. Greer and Luis Gonzalez of Weil, Gotshal & Manges LLP acted as legal advisors and Jackie Cohen of Ropes & Gray LLP serving as legal advisor and Weil, Gotshal & Manges LLP acting as due diligence provider to Jack Creek. David Antheil of Akin Gump Strauss Hauer & Feld LLP acted as legal advisor to Blackstone Tactical Opportunities Advisors L.L.C., shareholder of Bridger Aerospace Group Holdings, LLC. Continental Stock Transfer & Trust Company acted as transfer agent to Jack Creek. Vantage Point Advisors, Inc. acted as fairness opinion provider with a service fee of $160,000 to Jack Creek. Galland Kharasch Greenberg Fellman & Swirsky and KPMG LLP acted as due diligence providers to Jack Creek. D.F. King & Co., Inc. acted as proxy solicitor with a service fee of $25,000 to Jack Creek.