Exhibit (C)(7)

 

Project Prism Update May 2026

 

Trading and Current Bid Summary Sources: FactSet, Company Filings, Company Forecasts per Company Management. Market data as of 5/1/2026. Note: Company Capitalization per Company Management, includes PF adjustment for employee departures. 1. 2025A and LTM 3/31/26E Pro Forma financials adjusted to include contribution of Boom, DMS, and Sila Money acquisitions. 11/9 Bid 2/11 Bid 2/19 Bid 2/25 Bid 5/2 Bid Low High Price per Share $5.33 $4.87 $6.94 $6.00 $6.15 $7.00 $7.50 $7.85 $7.90 $7.95 $8.00 $8.05 $8.10 Total Equity Value $471 $432 $610 $529 $542 $615 $658 $688 $693 $697 $701 $706 $710 Net Debt & Minority Adj. 975 975 975 975 975 975 975 975 975 975 975 975 975 Total Enterprise Value $1,446 $1,407 $1,585 $1,504 $1,517 $1,590 $1,633 $1,663 $1,668 $1,672 $1,676 $1,681 $1,685 Premiums Analysis Prism Current Share Price (5/1/2026) $5.33 - (9%) 30% 13% 15% 31% 41% 47% 48% 49% 50% 51% 52% Pre-Q3 Earnings (11/5/25) $6.94 (23%) (30%) - (14%) (11%) 1% 8% 13% 14% 15% 15% 16% 17% 30-Day VWAP Pre-Q3 Earnings (11/5/25) $7.17 (26%) (32%) (3%) (16%) (14%) (2%) 5% 10% 10% 11% 12% 12% 13% 90-Day VWAP Pre-Q3 Earnings (11/5/25) $7.49 (29%) (35%) (7%) (20%) (18%) (7%) 0% 5% 5% 6% 7% 7% 8% 52-Week High as of 5/1/26 (6/11/2025) $8.89 (40%) (45%) (22%) (33%) (31%) (21%) (16%) (12%) (11%) (11%) (10%) (9%) (9%) 52-Week Low as of 5/1/26 (11/7/2025) $4.44 20% 10% 56% 35% 39% 58% 69% 77% 78% 79% 80% 81% 82% Multiples Analysis CY25A PF Adj. EBITDA(1) $238 6.1x 5.9x 6.7x 6.3x 6.4x 6.7x 6.9x 7.0x 7.0x 7.0x 7.0x 7.1x 7.1x 3/31/2026 LTM PF Adj. EBITDA(1) $240 6.0x 5.9x 6.6x 6.3x 6.3x 6.6x 6.8x 6.9x 7.0x 7.0x 7.0x 7.0x 7.0x CY26E Adj. EBITDA $245 5.9x 5.7x 6.5x 6.1x 6.2x 6.5x 6.7x 6.8x 6.8x 6.8x 6.8x 6.9x 6.9x Premium to 26E Multiples Analysis Current Multiple (5/1/2026) 5.9x - (3%) 10% 4% 5% 10% 13% 15% 15% 16% 16% 16% 17% Day Prior to Bid (11/7/25) 5.7x 3% - 13% 7% 8% 13% 16% 18% 19% 19% 19% 19% 20% Pre-Q3 Earnings (11/5/25) 6.5x (9%) (11%) - (5%) (4%) 0% 3% 5% 5% 6% 6% 6% 6% Transaction Stock Price of: Current Day Prior to 11/9 Bid Pre-Q3 Earnings ($ in millions) 1

 

Valuation Metrics Operating Metrics EV/Revenue EV/EBITDA Revenue Growth Gross Margin EBITDA Margin Unaffected 11/7/2025 Price 5/1/26 Mkt. Value Ent. Value Net Leverage Free Float %(1) LTM 3/31/26 CY26E LTM 3/31/26 CY26E LTM 3/31/26 CY26E LTM 3/31/26 CY26E LTM 3/31/26 CY26E PF Prism (Management) $4.87 $5.33 $471 $1,446 4.1x 43% 1.5x 1.4x 6.0x 5.9x 8.8% 6.8% / 8.5% 41% 41% 24% 24% PF Merchant Solutions 6.1% 4.9% / 7.6% 25% 24% 19% 18% PF Treasury Solutions 17.3% 12.1% / 12.1% 93% 92% 83% 81% Payables 12.6% 10.1% 29% 28% 14% 13% Prism (Consensus) $4.87 $5.33 $471 $1,446 4.3x 43% 1.5x 1.4x 6.3x 6.1x 8.1% 7.6% 39% 40% 23% 23% Merchant Solutions Deluxe $20.70 $31.90 $1,517 $2,953 3.3x 100% 1.4x 1.4x 6.8x 6.6x 0.6% 0.3% 53% 53% 20% 21% Fiserv 63.70 62.14 33,661 61,000 3.1x 100% 3.1x 3.0x 6.9x 7.1x 1.9% 1.5% 62% 61% 45% 43% Global Payments 76.03 72.36 19,894 36,655 3.0x 84% 3.1x 3.0x 6.7x 6.2x 6.0% 4.1% 61% 70% 46% 47% Paysafe 10.18 9.41 527 2,917 5.6x 54% 1.7x 1.6x 6.7x 6.4x 7.5% 6.0% 56% 56% 25% 25% Repay (as of 3/30/2026) 3.80 3.12 292 608 5.4x 90% 1.9x 1.8x 4.7x 4.4x 1.0% 10.3% 75% 74% 41% 40% Repay (as of 4/16/2026) 3.80 3.18 297 985 3.9x 90% 1.8x 1.7x 5.5x 5.2x 0.9% 8.2% 75% 74% 32% 32% Shift4 66.15 45.21 3,761 8,869 3.3x 73% 3.8x 3.5x 8.1x 7.5x 7.4% 9.1% 64% 72% 47% 47% Mean 3.9x 84% 2.4x 2.3x 6.5x 6.2x 5.7% 5.7% 64% 66% 37% 37% Median 3.3x 90% 1.9x 1.8x 6.7x 6.4x 6.0% 6.0% 62% 70% 41% 40% Treasury Solutions Repay (as of 3/30/2026) $3.80 $3.12 $292 $608 5.4x 90% 1.9x 1.8x 4.7x 4.4x 1.0% 10.3% 75% 74% 41% 40% Repay (as of 4/16/2026) 3.80 3.18 297 985 3.9x 90% 1.8x 1.7x 5.5x 5.2x 0.9% 8.2% 75% 74% 32% 32% WEX 145.68 151.14 5,382 9,369 3.6x 100% 3.5x 3.3x 8.3x 7.7x 3.3% 7.1% 59% 59% 42% 43% Mean 4.3x 93% 2.4x 2.2x 6.2x 5.8x 1.7% 8.6% 69% 69% 38% 38% Median 3.9x 90% 1.9x 1.8x 5.5x 5.2x 1.0% 8.2% 75% 74% 41% 40% Payables Bill.com $45.59 $39.07 $4,174 $3,787 NM 91% 2.4x 2.2x 12.7x 10.9x 12.3% 12.3% 81% 84% 19% 20% Corpay 276.53 307.22 21,218 28,581 2.8x 100% 5.9x 5.4x 11.1x 10.2x 11.5% 12.3% 77% 79% 53% 53% WEX 145.68 151.14 5,382 9,369 3.6x 100% 3.5x 3.3x 8.3x 7.7x 3.3% 7.1% 59% 59% 42% 43% Mean 3.2x 97% 3.9x 3.6x 10.7x 9.6x 9.0% 10.6% 72% 74% 38% 39% Median 3.2x 100% 3.5x 3.3x 11.1x 10.2x 11.5% 12.3% 77% 79% 42% 43% WholeCo Deluxe $20.70 $31.90 $1,517 $2,953 3.3x 100% 1.4x 1.4x 6.8x 6.6x 0.6% 0.3% 53% 53% 20% 21% Paysafe 10.18 9.41 527 2,917 5.6x 54% 1.7x 1.6x 6.7x 6.4x 7.5% 6.0% 56% 56% 25% 25% Repay (as of 3/30/2026) 3.80 3.12 292 608 5.4x 90% 1.9x 1.8x 4.7x 4.4x 1.0% 10.3% 75% 74% 41% 40% Repay (as of 4/16/2026) 3.80 3.18 297 985 3.9x 90% 1.8x 1.7x 5.5x 5.2x 0.9% 8.2% 75% 74% 32% 32% Flywire 13.56 14.00 1,885 1,530 NM 100% 2.3x 2.1x 11.6x 9.4x 30.2% 18.6% 60% 60% 20% 22% Payoneer 5.37 5.04 1,865 1,463 NM 84% 1.4x 1.3x 5.5x 5.2x 6.5% 5.1% 84% 85% 25% 25% Paypal 66.22 50.44 48,040 44,189 NM 100% 1.3x 1.3x 6.3x 6.5x 4.8% 2.8% 46% 44% 21% 20% WEX 145.68 151.14 5,382 9,369 3.6x 100% 3.5x 3.3x 8.3x 7.7x 3.3% 7.1% 59% 59% 42% 43% Mean 4.3x 90% 1.9x 1.8x 6.9x 6.4x 6.9% 7.3% 63% 63% 28% 29% Median 3.9x 95% 1.7x 1.6x 6.5x 6.5x 4.1% 6.6% 60% 59% 25% 25% Preliminary Comparable Public Companies Sources: FactSet, Broker Research, Company Management. Market data as of 5/1/2026. Note: Metrics for comparable companies pro forma for historical acquisitions. 1. Free float % defined as common shares outstanding less shareholders greater than 5% of common outstanding and less any additional share classes that do not trade on public markets. 2. Pro forma financials adjusted to include contribution of Boom, DMS, and Sila Money acquisitions, excluding LTM 3/31/26 revenue growth. 3. Segment level EBITDA margin excludes impact of corporate allocations. 4. Excludes pro forma adjustments contribution of Boom, DMS, and Sila Money acquisitions. 5. Repay valuation as of 3/30/2026, prior to announcement of Kubra acquisition, and 4/16/2026, prior to unsolicited take-private bid. 6. Flywire EV/Revenue multiples calculated using gross revenue. (6) (2) (2) (2) (3) (3) (3) (4) (4) (4) 2 (6) (5) (5) (5) Note: Repay valuation and financials as of 3/30/2026, prior to announcement of Kubra acquisition, and 4/16/2026, prior to unsolicited take-private bid (5) (5) (5)

 

($ in millions, except per share data) Valuation Metrics (01.28.2026) Valuation Metrics (05.01.2026) Valuation Metrics (Delta) EV/Revenue EV/EBITDA EV/Revenue EV/EBITDA EV/Revenue EV/EBITDA Price CY25E CY26E CY25E CY26E Price LTM 3/31/26 CY26E LTM 3/31/26 CY26E Price LTM CY26E LTM CY26E PF Prism (Management) $5.86 1.5x 1.4x 6.3x 6.1x $5.33 1.5x 1.4x 6.0x 5.9x (0.53) (0.08) (0.05) (0.25) (0.19) Prism (Consensus) $5.86 1.6x 1.5x 6.7x 6.0x $5.33 1.5x 1.4x 6.3x 6.1x (0.53) (0.10) (0.04) (0.31) 0.11 Merchant Solutions Deluxe $23.90 1.2x 1.2x 6.1x 6.0x $31.90 1.4x 1.4x 6.8x 6.6x 8.00 0.16 0.16 0.74 0.60 Fiserv 64.95 3.2x 3.1x 6.9x 7.2x 62.14 3.1x 3.0x 6.9x 7.1x (2.81) (0.12) (0.11) 0.00 (0.05) Global Payments 72.01 2.6x 2.4x 5.5x 5.1x 72.36 3.1x 3.0x 6.7x 6.2x 0.35 0.50 0.51 1.25 1.16 Paysafe 6.92 1.6x 1.5x 6.3x 5.9x 9.41 1.7x 1.6x 6.7x 6.4x 2.49 0.09 0.12 0.36 0.50 Repay (as of 3/30/2026) 3.52 2.2x 2.0x 5.3x 4.8x 3.12 1.9x 1.8x 4.7x 4.4x (0.40) (0.23) (0.24) (0.51) (0.43) Repay (as of 4/16/2026) 3.52 2.2x 2.0x 5.3x 4.8x 3.18 1.8x 1.7x 5.5x 5.2x (0.34) (0.39) (0.36) 0.29 0.36 Shift4 59.98 4.5x 4.0x 9.5x 8.4x 45.21 3.8x 3.5x 8.1x 7.5x (14.77) (0.71) (0.52) (1.43) (0.88) Mean 2.5x 2.3x 6.4x 6.0x 2.4x 2.3x 6.5x 6.2x (0.10) (0.06) 0.10 0.18 Median 2.2x 2.0x 6.1x 5.9x 1.9x 1.8x 6.7x 6.4x (0.23) (0.24) 0.69 0.50 Treasury Solutions Repay (as of 3/30/2026) $3.52 2.2x 2.0x 5.3x 4.8x $3.12 1.9x 1.8x 4.7x 4.4x (0.40) (0.23) (0.24) (0.51) (0.43) Repay (as of 4/16/2026) 3.52 2.2x 2.0x 5.3x 4.8x 3.18 1.8x 1.7x 5.5x 5.2x (0.34) (0.39) (0.36) 0.29 0.36 WEX 154.68 3.7x 3.5x 8.8x 8.3x 151.14 3.5x 3.3x 8.3x 7.7x (3.54) (0.22) (0.26) (0.48) (0.58) Mean 2.7x 2.5x 6.4x 6.0x 2.4x 2.2x 6.2x 5.8x (0.28) (0.29) (0.23) (0.21) Median 2.2x 2.0x 5.3x 4.8x 1.9x 1.8x 5.5x 5.2x (0.23) (0.24) 0.29 0.36 Payables Bill.com $46.55 3.0x 2.7x 17.5x 14.1x $39.07 2.4x 2.2x 12.7x 10.9x (7.48) (0.62) (0.53) (4.87) (3.22) Corpay 317.64 6.1x 5.5x 11.7x 10.3x 307.22 5.9x 5.4x 11.1x 10.2x (10.42) (0.19) (0.03) (0.61) (0.09) WEX 154.68 3.7x 3.5x 8.8x 8.3x 151.14 3.5x 3.3x 8.3x 7.7x (3.54) (0.22) (0.26) (0.48) (0.58) Mean 4.3x 3.9x 12.7x 10.9x 3.9x 3.6x 10.7x 9.6x (0.35) (0.27) (1.99) (1.30) Median 3.7x 3.5x 11.7x 10.3x 3.5x 3.3x 11.1x 10.2x (0.22) (0.26) (0.61) (0.09) WholeCo Deluxe $23.90 1.2x 1.2x 6.1x 6.0x $31.90 1.4x 1.4x 6.8x 6.6x 8.00 0.16 0.16 0.74 0.60 Paysafe 6.92 1.6x 1.5x 6.3x 5.9x 9.41 1.7x 1.6x 6.7x 6.4x 2.49 0.09 0.12 0.36 0.50 Repay (as of 3/30/2026) 3.52 2.2x 2.0x 5.3x 4.8x 3.12 1.9x 1.8x 4.7x 4.4x (0.40) (0.23) (0.24) (0.51) (0.43) Repay (as of 4/16/2026) 3.52 2.2x 2.0x 5.3x 4.8x 3.18 1.8x 1.7x 5.5x 5.2x (0.34) (0.39) (0.36) 0.29 0.36 Flywire 13.20 2.3x 2.0x 12.0x 9.5x 14.00 2.3x 2.1x 11.6x 9.4x 0.80 (0.02) 0.05 (0.39) (0.05) Payoneer 6.30 1.8x 1.7x 7.2x 6.9x 5.04 1.4x 1.3x 5.5x 5.2x (1.26) (0.47) (0.41) (1.69) (1.63) Paypal 54.08 1.5x 1.4x 6.8x 6.6x 50.44 1.3x 1.3x 6.3x 6.5x (3.64) (0.15) (0.10) (0.51) (0.02) WEX 154.68 3.7x 3.5x 8.8x 8.3x 151.14 3.5x 3.3x 8.3x 7.7x (3.54) (0.22) (0.26) (0.48) (0.58) Mean 2.1x 1.9x 7.2x 6.6x 1.9x 1.8x 6.9x 6.4x (0.15) (0.13) (0.27) (0.15) Median 2.0x 1.9x 6.6x 6.3x 1.7x 1.6x 6.5x 6.5x (0.28) (0.24) (0.07) 0.22 Prism Comparable Public Companies Multiples Delta Sources: FactSet, Broker Research, Company Management. Market data as of 5/1/2026 and 1/28/2026. Note: Metrics for comparable companies pro forma for historical acquisitions. 1. Repay valuation as of 3/30/2026, prior to announcement of Kubra acquisition, and 4/16/2026, prior to unsolicited take-private bid. 2. Flywire EV/Revenue multiples calculated using gross revenue. (2) (2) (2) (2) 3 (1) (1) (1) (1) (1) (1)

 

Sources: Company Information, FactSet. Market data as of 5/1/2026. Note: Repay multiple is PF for Kubra acquisition including the announced financing as of the day following transaction announcement. REPAY Performance Over the Last 6 Months Share Price and EV/CY26 EBITDA (Share Price, USD$) 4 (EV / CY26 EBITDA Multiple) 3.00x 3.25x 3.50x 3.75x 4.00x 4.25x 4.50x 4.75x 5.00x 5.25x 5.50x 5.75x 6.00x $2.00 $2.25 $2.50 $2.75 $3.00 $3.25 $3.50 $3.75 $4.00 $4.25 $4.50 $4.75 $5.00 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 Share Price EV/EBITDA REPAY Multiples Over Time Current 5.5x Pre-Takeover Bid 5.2x Pre-Verdace Letter 5.0x Pre-Kubra Acq. Announcement 4.4x 30D Average pre-Kubra Acq. Announcement 4.3x 3M Average pre-Kubra Acq. Announcement 4.6x 6M Average pre-Kubra Acq. Announcement 4.8x $3.86 5.5x 4/27/26 Prelim. Q1'26 results; raises FY26 Adj. EBITDA outlook 1D Δ: +10.4% 2/12/26 Co-Founder & President, Shaler Alias, departs 1D Δ: -0.3% 3/9/26 Reports Q4'25 & FY25 earnings 1D Δ: +8.2% 3/30/26 Annc. Kubra acq. 1D Δ: -16.7% 4/9/26 Veradace Partners calls for termination of Kubra acq. 1D Δ: +5.2% 4/17/26 Forager Cap. proposes Repay acq. for $4.80/sh 1D Δ: +29.2% 11/10/25 Reports Q3'25 earnings 1D Δ: +1.3% 4/14/26 Adopts limited duration SH rights plan 1D Δ: -1.3% May-26

 

The following pages contain material that was provided to the Board of Directors (the "Board") of Prism (the "Company") by Barclays Capital Inc. ("Barclays"). The accompanying material and any Barclays presentation related to the material was compiled or prepared on a confidential basis solely for consideration by the Board and no part of it may be reproduced, distributed or transmitted without the prior written consent of Barclays. The information contained in this material was obtained from the Company and/or publicly available sources, and Barclays has relied upon such information without independent verification thereof and does not assume any liability for any such information. These materials are being provided in connection with an actual corporate engagement and may not be used or relied upon for any purpose other than as specifically contemplated by a written agreement with Barclays. 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