#1T T T T T T A A G T A T T T U C G C A T A A T A T Investor Presentation A f2² 23andMe G T T C G A A T G A C T A T 23andMe Confidential and Proprietary Information T T#2Disclaimer This confidential presentation (this "Presentation") was prepared exclusively for the benefit and internal use of the party to whom it is directly addressed and delivered in connection with the evaluation of a potential transaction (the "Transaction") between VG Acquisition Corp. ("VG") and 23andMe, Inc. ("23andMe"). Any further distribution or reproduction of this Presentation, in whole or in part, or the divulgence of any of its contents, is unauthorized. By accepting the Presentation, each recipient agrees to maintain the confidentiality of the information contained herein in accordance with the confidentiality undertaking previously provided to VG. This presentation is incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by VG. This Presentation does not constitute investment, tax or legal advice. No representation, express or implied, is or will be given by VG, 23andMe or their respective affiliates and advisors as to the accuracy or completeness of the information contained herein, or any other written or oral information made available in the course of an evaluation of the Transaction. VG intends to file with the Securities and Exchange Commission (the "SEC") a registration statement on Form S-4 that will include a proxy statement and prospectus of VG containing some of the information contained herein which may change prior to filing the registration statement and in response to the SEC review process. To the fullest extent permitted by law, in no circumstances will VG, 23and Me or any of their respective stockholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this presentation, its contents, its omissions, reliance on the information contained within it or on opinions communicated in relation thereto or otherwise arising in connection therewith. Forward-Looking Statements This Presentation may contain certain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding VG's and its management teams' expectations, hopes, beliefs, intentions or strategies regarding the future. The words "anticipate", "believe", "continue", "could", "estimate", "expect", "intends", "may", "might", "plan", "possible", "potential", "predict", "project", "should", "would" and similar expressions may identify forward looking statements, but the absence of these words does not mean that a statement is not forward looking. The forward-looking statements contained herein are based on VG's and 23and Me's current expectations and beliefs concerning future developments and their potential effects on VG, 23and Me or any successor entity of the Transaction. There can be no assurance that the future developments affecting VG, 23andMe or any successor entity of the Transaction will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of VG and 23and Me) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Except as required by law, VG and 23andMe do not undertake any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Financial Information The historical financial information respecting 23and Me contained in this Presentation has been taken from or prepared based on unaudited historical financial statements of 23andMe for its fiscal years ended March 31, 2019 and 2020, and the nine-month period ended December 31, 2020. An audit of such financial statements is in process and audited financial statements for such periods will be included in the registration statement/ proxy statement related to the Transaction. Accordingly, the historical financial information included herein should be considered preliminary and subject adjustment in connection with the completion of the audits. 23andMe's results and financial condition as reflected in the financial statements included in the registration statement/ proxy statement may be adjusted or presented differently from the historical financial information included herein, and the variations could be material. Non-GAAP Financial Measures Certain of the financial measures included in this Presentation, including Adjusted EBITDA, have not been prepared in accordance with generally accepted accounting principles, or "GAAP", and constitute "non-GAAP financial measures" as defined by the rules of the SEC. VG has included these non-GAAP financial measures because it believes they provide an additional tool for investors to use in evaluating the financial performance and prospects of 23andMe or any successor entity of the Transaction. These non-GAAP financial measures should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. In addition, these non-GAAP financial measures may differ from non-GAAP financial measures with comparable names used by other companies. See the Appendix for a description of these non-GAAP financial measures and a reconciliation of the historic measures to 23andMe's most comparable GAAP financial measures. Note however, that to the extent forward looking non-GAAP financial measures are provided herein, they are not reconciled to comparable forward looking GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. Intellectual Property All rights to the trademarks, copyrights, logos and other intellectual property listed herein belong to their respective owners and VG's and 23andMe's use thereof does not imply an affiliation with, or endorsement by the owners of such trademarks, copyrights, logos and other intellectual property. Solely for convenience, trademarks and trade names referred to in this Presentation may appear with the ® or TM symbols, but such references are not intended to indicate, in any way, that such names and logos are trademarks or registered trademarks of VG or 23andMe. Industry and Market Data This Presentation relies on and refers to certain information and statistics based on 23andMe's management's estimates, and/or obtained from third party sources which it believes to be reliable. Neither VG nor 23andMe has independently verified the accuracy or completeness of any such third party information. 23and Me Confidential and Proprietary Information#3Evan Lovell CIO, Virgin Group CFO, VGAC Virgin uku W WW 14 ww Anne Wojcicki Co-Founder and CEO uhub 23andMe WW WXXU UU Steve Schoch CFO 23andMe www Kenneth Hillan, M.B., Ch.B. Head of Therapeutics ww 23andMe 23andMe Confidential and Proprietary Information WWW#4Virgin's Investment Thesis for 23and Me Disrupting the Healthcare experience. 23andMe is building a personalized health and wellness experience that caters uniquely to the individual by harnessing the power of their DNA 2 The world's premier re-contactable genetic database. A vast proprietary dataset rich with both genotypic and phenotypic information allows insights that unlock revenue streams across digital health, therapeutics, and much more 3 Recognized and trusted brand with leading engagement metrics. Impressive repeat customer engagement validates the 23andMe platform and the demand for genetics-based consumer service 4 Institutionally sponsored therapeutics efforts. A broad pipeline established in collaboration with GSK validates the approach of developing novel therapeutics using genetic data 5 Multiple avenues for value creation. The FDA-approved consumer platform, the therapeutics efforts, and the rich database each create optionality for outsized value creation that is difficult to replicate 6 A world-class management team. Pioneers in their industries, the team has a long track record of success and value creation 23andMe Confidential and Proprietary Information 2#5G T T G T T G T C G A C Behind Every Data Point is a Human Being G C A G A T T T A T T C#6Our Mission is to Help People Access, Understand and Benefit from the Human Genome 23andMe Welcome to you saliva collection kit 23andMe REGENERON MILLION VETERAN PROGRAM UK BIOBANK ALL OF US FINNGEN DECODE GENETICS 1M 825,000 500,000 366,000 176,000 160,000 GENOMICS ENGLAND 100,000 Size and scale of 23andMe enables rapid, novel discoveries 18.5M of 23andMe's genotyped customers consented to research. Participant counts sourced from company websites (January 19, 2021). This comparison was conducted against databases that collect genetic information (genotypes, exomes, or genomes) on research participants and have disclosed or published their consented research participant numbers, as of December 31, 2020. 10.7M¹ 23andMe Confidential and Proprietary Information 3#7The Healthcare System is Dysfunctional "Of course our system isn't about healthcare, it's about maximizing revenue for a whole bunch of different players that have nothing to do with what's good for patients." Elisabeth Rosenthal (Editor-in-Chief, Kaiser Health News) 1JAMA, "Waste in the US Health Care System" (2019). 2 Redpoint Global / Dynata survey of over 1,000 U.S. consumers (2020). 3 Gallup, "Americans' Views of U.S. Business and Industry Sectors" (2020). 4 PhRMA, "Biopharmaceutical Research & Development: The Process Behind New Medicines" (2015). 25%' U.S. healthcare spending is waste 75%² Consumers wish their healthcare experience was more personalized -15³ The net positive score Americans gave the pharmaceutical industry 4 <12%* Probability of success for a drug to be approved, taking ~10 years and costing $2.6B to develop 23and Me Confidential and Proprietary Information 4#8Media Travel Commerce Hospitality Healthcare >>> >>> >>> >>> ► YouTube Virgin amazon airbnb X₁² 23andMe Consumer Scale and Empowerment is the Key to Disrupting Healthcare "Healthcare cannot change from within, it will need an outside force to change it, and that force will be our customers. Anne Wojcicki 23andMe Confidential and Proprietary Information 5#9We Pioneered Digital D2C Healthcare to Empower Customers With Affordable, Direct Access ¹ See FDA De Novo Authorizations 140044, 160026, 170046 and 180028 and FDA 510K Clearances K182784 and K193492. 6 FDA Authorizations TIME MAGAZINE INVENTION OF THE YEAR 1. The Retail DNA Test By Anita Hamilton Wednesday, Oct. 29, 2008 Best Inventions of 2008 > From a genetic testing service to an invisibility cloak to an ingenious public bike system to the world's first moving skyscraper - here are TIME's picks for the top innovations of 2008 Proven accuracy (99% NPV/PPV) and accessibility¹ 2015 2016 2017 2018 2019 2020 Carrier Status (inherited conditions) GHR (genetic health risk) BRCA (breast and ovarian cancer) PGt (pharmacogenetic metabolism) MUTYH (colorectal cancer) PGt (pharmacogenetic drug response) 23andMe Confidential and Proprietary Information 6#1080% Customers receive a report with a meaningful genetic variant 6,000+ Customers with a tested BRCA1 / BRCA2 variant 12,000+ Customers with an increased risk for Chronic Kidney Disease 7,000+ Customers with Hypercholesterolemia (FH) variants Note: Estimates based on penetrance of variants in 23and Me's Database. Providing Customers With Key, Actionable Insights "Like me, there are many women who have slipped through the cracks of our current medical screening system, either because they don't have a family history of breast or ovarian cancer. Or they do not know that they have Ashkenazi Jewish ancestry. In my case, even though I know I have Ashkenazi ancestry, that wasn't enough to prompt my doctor to consider screening. So there are many women walking around with this risk, who, like me, would have never known of their own risk but for this test from 23andMe." 23andMe customer who discovered she had a BRCA1 mutation 23andMe Confidential and Proprietary Information 7#11World Class Leadership Team Merging Tech, Biotech and Healthcare Consumer Anne Wojcicki Co-Founder and Chief Executive Officer KAISER PERMANENTE BERNARD J TYSON SCHOOL OF MEDICINE Kumar lyer Head of Product Previously at Facebook, Netflix Yale investor Steve Lemon VP, Engineering Previously at Loopt, WebMD, Apple Tracy Keim VP, Consumer, Marketing & Brand Previously at RAPP, Bonobos, Volvo Okey Onyejekwe, MD, JD VP, Healthcare Ops & Medical Affairs Previously at Veterans Health, U.S. Air Force, Virta Steve Schoch Chief Financial Officer MIRAMAX AMGEN Research & Corporate Joyce Tung, PhD VP, Research Previously at Stanford University, UCSF Jacquie Haggarty, MPP, JD VP, Deputy General Counsel & Privacy Officer Previously at Genomic Health, Latham & Watkins David Baker Chief Security Officer Previously at Okta, Bugcrowd Kathy Hibbs, JD Chief Legal & Regulatory Officer Genomic Health LIFE, CHANGING Therapeutics Monogram BIOSCIENCES Lap Jennifer Low, MD, PhD Head of Therapeutics Development Previously at Loxo, Genentech Adam Auton, PhD VP, Human Genetics Previously at Albert Einstein College of Medicine, University of Oxford Monica Viziano, PhD VP, Portfolio Strategy & Alliance Management Previously at GSK, Gilead Richard Scheller, PhD Board Director (former Chief Science Officer) Previously at Genentech, Stanford University Kenneth Hillan, M.B., Ch.B. Head of Therapeutics ACHAOGEN Genentech Select Investors Virgin NEW VIEW Genentech CAPITAL Fidelity INVESTMENTS gsk Google CASDIN CAPITAL LIFE SCIENCE INVESTMENTS SEQUOIA g G SQUARED 23andMe Confidential and Proprietary Information 8#12G T C G C T T 2 G C C A C G Transforming Healthcare With 23andMe's Crowdsourced, Genetic Database "The mission of 23andMe is not just about genetics. We want to transform healthcare... What I have learned after 11 years is that people want to participate in research... They don't want to be a human subject. They want to be respected as an equal and as a partner in the process." Anne Wojcicki to Recode Decode (2018) G C G T T T T A T T C#13C G T T G T G A Diagnosis, Prevention and Treatment of Most, if Not All, Human Disease T T Unlocking the Genetic Code Creates the Opportunity to Revolutionize the G с T G C A T T A A C G A G Cracking the code... ACGT ...is a data problem, a very big data problem We are all 99.5% genetically alike C A 3 billion base pairs long 23and Me Confidential and Proprietary Information 9#14Cumulative Genotyped Customers (in M, fiscal year ends March 31) 2.0 We Are Redefining Healthcare. With Data. At Scale. FY17A 4.4 FY18A 10M+ Genetic Profiles Created Critical Mass¹ 7.8 FY19A 9.8 FY20A 11.2 FY21E 12.6 FY22E 14.3 FY23E 16.4 FY24E 18.5M consented customers allows 23andMe to perform Genome-Wide Association Studies with over 10,000 cases on all diseases over 0.1% prevalence. 2 Based on internal estimates subject to scientific, development and compliance risks. Includes collaborated, 100% owned and royalty interests targets. Empowering Consumers 10.7M Genotyped Customers Enabling Research & Services 4B+ Phenotypic Data Points Developing Therapeutics 30+ Programs² 23and Me Confidential and Proprietary Information 10#15Consumer Powered Healthcare Flywheel We run hundreds of billions of association tests per year that further our unique understanding of human biology Consumer 10.7M Genotyped Customers 30K+ Daily Surveys Completed »»>> Data 80% Opt-In to Research Research اااه XX Phenotypic Genetic Data Data Insights >>> Innovative Results Return Value to the Customer Therapeutics / Product Drug Discoveries Novel Consumer Products ˇ 23andMe Confidential and Proprietary Information 11#16Ancestry Composition Ancestry Composition East Asian & Native American 51.2% Chinese & Southeast Asian ● Chinese ● Vietnamese Indonesian, Thai, Khmer & Myanma Sub-Saharan African West African Nigerian Ghanaian, Liberian & Sierra Leonean Senedabian & Guinean. 47.9% 42.9% 3.0% 0.2% 35.2% 26.5% 14.3% 4.8% Our Ancestry Service A Mass Entry Point to Building a Revolutionary Database Note: Opt-in required for DNA Relatives and Family Tree builder. DNA Relatives DNA Relatives SORT: PERCENT JC LC SC NB VIEW MAP Jocelyn C Mother 50% DNA Shared Leo Cavani Father 50% DNA Shared Sam Cavani 1st Cousin 9.66% DNA Shared Nick Bolton 2nd Cousin 3.69% DNA Shared Visualize Genetic Connections With an Automatically Built Family Tree 23andMe Your Family Tree ? ? Grandparent ? Grandpare ? BM Barbara Miller 2nd Cousin HOME Sandra Miller 2nd Cousin 2224 Christopher Morris 1x removed ANCESTRY ? Mother CK Cory King Brother Jamie King You HEALTH PK Philip King Cecilia King Siste RESEARCH ? RG Sam Garfield 3rd Cousin 1x removed Rachel Garfield 3rd Cousin ? Grandfather FAMILY & FRIENDS ? Gertrude King Grandmother ? Linda Frank 2nd Cousin 1x removed oll SM Susan Martin 2nd Cousin 23and Me Confidential and Proprietary Information 12#17How Ancestry Matters In Connection To Your Health Current clinical guidelines and eligibility for insurance coverage limit BRCA testing to women with a personal or family history of cancer (Robson, 2003) Ann M. 23andMe Customer Ann did not know her ancestry origins and would not have been eligible for clinical testing under current guidelines. Ann decided to do 23andMe to learn more about her potential health risks. Based on her 23andMe report, she discovered she had a BRCA1 mutation. Her doctor confirmed the results and she opted to have surgeries to reduce her risk of having ovarian and/or breast cancer. ¹ NCCN is the National Comprehensive Cancer Network® (NCCNⓇ). 20% Adult individuals with a BRCA1 or BRCA2 variant Meet NCCNⓇ criteria1¹ Identified by healthcare system 50% 80% Missed by healthcare system KKK DTC Testing Do not meet NCCN® criteria 45% 50% 21% No first-degree family history of a BRCA-related cancer Did not self-report having Jewish ancestry KK 23andMe Confidential and Proprietary Information 13#18Health Predispositions 14 Including: Type 2 Diabetes (Powered by 23andMe Research) Celiac Disease Uterine Fibroids Our Health Service The First and Only Multi-Disease DTC Genetic Service That Includes FDA-Authorized Reports and Provides Personalized Genetic Insights and Tools Chronic Kidney Disease G6PD Deficiency MUTYH-Associated Polyposis BRCA1/BRCA2 (selected variants) Type 2 Diabetes YOUR RESULT Your genetics are associated with a typical likelihood. DDC Genetics # Age 37% HH Ethnicity ¹ Wellness information does not require FDA Authorization. Wellness¹ 8 Including: Muscle Composition Genetic Weight Alcohol Flush Reaction Saturated Fat and Weight Sleep Movement Genetic Weight YOUR RESULT Your genes predispose you to weigh about 7% less than average. Average 142 5'4" ▬▬▬▬▬▬▬ Carrier Status 40+ Including: Cystic Fibrosis Sickle Cell Anemia Familial Hyperinsulinism (ABCC8-Related) Tay-Sachs Disease Glycogen Storage Disease (Type 1a) Tay-Sachs Disease YOUR RESULT You do not have the variants we tested. 0 variants detected in the HEXA gene 6 FDA Authorizations Pharmacogenetics 3 Including: SLCO1B1 Drug Transport CYP2C19 Drug Metabolism DPYD Drug Metabolism 23andMe+ Pharmacogenetics Genetic variants may influence how you process medications. YOUR RESULTS CYP2C19 Drug Metabolism LIKELY NORMAL METABOLIZER ( DPYD Drug Metabolism LIKELY NORMAL METABOLIZER SLC01B1 Drug Transport LIKELY NORMAL METABOLIZER Print summary 23and Me Confidential and Proprietary Information 14#19A Meaningful, Engaging (and Fun) Experience Strong Engagement and Trust Drive Longitudinal Data Collection 80% customers consent to research 180+ published research papers 30K research surveys completed daily 7M genotyped customers logged-in in 2020 4B+ phenotypic data points 60% pre-2015 customers logged-in during 2020 Ice Cream Flavor Preference YOUR RESULT You are more likely to prefer chocolate ice cream. 56% of people with results like yours prefer chocolate ice cream. Neanderthal Ancestry Hey Jamie, You have more Neanderthal DNA than 78% of other customers. Neanderthals were prehistoric humans who interbred with modern humans before disappearing around 40,000 years ago. 23andMe Confidential and Proprietary Information 15#20Genetic Data Helps Drive Behavior Change ¹ Based on 2019 online survey, designed by 23and Me and M/A/R/C Research, of 1,046 23andMe Health + Ancestry customers. 76% Report taking a positive health action¹ Eat healthier Set future goals to be healthier Adopt a healthier lifestyle in general Exercise more Get more rest / sleep Stop drinking / drink less Stop smoking / smoke less 7% 16% 45% 42% 51% 50% 23and Me Confidential and Proprietary Information 55% 16#2123andMe+™ Subscription is the Next Phase of Our D2C Journey Pharmacogenetics 3 reports (FDA-Authorized) Heart Health Reports Atrial Fibrillation, Coronary Artery Disease, LDL Cholesterol, Hypertension DNA Relatives Advanced filters, access up to 5,000 relatives Polygenic Risk Scores (Powered by 23andMe Research) Rapidly discovering new genetic insights: Cancer risk Reproductive Health Diet Sleep Fitness and injuries Migraines Heart Health Learn how your DNA insights can help you care for your heart. LDL 23andMe + Atrial Fibrillation INCREASED LIKELIHOOD Type 2 Diabetes INCREASED LIKELIHOOD 23andMe + Coronary Artery Disease TYPICAL LIKELIHOOD 23andMe+ High Blood Pressure TYPICAL LIKELIHOOD 23andMe+ LDL Cholesterol TYPICAL LIKELIHOOD 23andMe Confidential and Proprietary Information 17#22Strong Early Demand From Customers for Subscription Product Soft Launch October 2020 Jun 75K+ subscribers as of Jan 2021 Jun Jul Aug Daily Subscribers Sep Oct Nov Dec Cumulative Active Subscribers Jan 23and Me Confidential and Proprietary Information 18#23Opportunity for Personalized Healthcare at Scale Practice of Medicine Today Reactive - no customization until symptomatic !!!!! 23andMe+ Proactive - truly individualized from the very beginning >> >>> >> 23and Me Confidential and Proprietary Information 19#24Genetics-Based Approach Will Transform the Continuum of Care I 23andMe Welcome to you saliva collection kit 70% Providers think genetic tests will improve clinical outcomes¹ ¹ Health Affairs, "Views Of Primary Care Providers On Testing Patients For Genetic Risks For Common Chronic Diseases." (2018). Genetics-Based Primary Care Diagnostics Testing Pharmacy / E-Prescribing Wearables Telehealth Wellness Reports Medical Records Hospital Connection 23andMe Confidential and Proprietary Information 20#25G T G T T 3 G T C G A C Transforming Therapeutic Development With the 23andMe Database G C G A T T T A T T C#26Limited Use of Data and Lack of Patient Engagement Constrains Productivity ¹ IND = Investigational New Drug Application. fdareview.org, "The Drug Development and Approval Process" (2020). 2 Probability of success for a drug to be approved is estimated to be <12%. 3 PhRMA, "Biopharmaceutical Research & Development: The Process Behind New Medicines" (2015). Drug Development is Inefficient 7 years average time-to-IND¹ $2.6B average cost of drug development³ ~90% failure rate ², 3 23and Me Confidential and Proprietary Information 21#27Pharmaceutical Industry 7 years average time-to-IND¹ ~90% failure rate² >> 23andMe ~4 years for our CD96 drug 2X increase in probability of success³ NATURE PUBLICATION The support of human genetic evidence for approved drug indications Nelson et. al 2015 IND = Investigational New Drug Application. fdareview.org, "The Drug Development and Approval Process" (2020). 2 Probability of success for a drug to be approved is estimated to be <12%. PhRMA, "Biopharmaceutical Research & Development: The Process Behind New Medicines" (2015). 3 Nature Publication, "The support of human genetic evidence for approved drug indications" (2015). 23andMe Can Efficiently Develop Novel Therapeutics by Power, Need and Speed 23andMe Confidential and Proprietary Information 22#28Our Scale Enables Real-Time Genetics Health Research 1,728,000 High cholesterol 1,572,000 Depression 986,000 Asthma 565,000 Irritable Bowel 479,000 Arrhythmia 7,700 Systemic Sclerosis 539,000 Type 2 Diabetes 1,260,000 APOE e4 carriers (Alzheimer's risk) 593,000 Atopic Dermatitis 96,000 UC / Crohn's 144,000 Coronary Artery 6,200 Sarcoidosis 29,000 Type 1 Diabetes 76,000 Epilepsy 225,000 Psoriasis 59,000 Barrett's Esophagus ¹ As of January 2021. 223and Me COVID-19 manuscript live on MedRXiv September 7, 2020. 38,000 Pulmonary Embolism 4,300 Idiopathic Pulmonary Fibrosis 1,100,000 COVID-19 study participants (January 2021) COVID-19 Research March 16 April 6 June 8 750K Consumers participated in the COVID-19 study in the first 90 days Sept. 7 Kicked Off Study Launched Study Preliminary Findings Printed Findings² 23andMe Confidential and Proprietary Information 23#29Number of independent hits p<5e-8 New programs are identified through GWAS¹ hits, which increase linearly as size of database grows 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 Genome-Wide Association Study. 0 Size and Scale Accelerates the Quality of Target Discovery 2015 2016 2017 2018 2019 2020 Example: Osteoarthritis GWAS hits dramatically increase as database grows 2016 2017 2019 (nador Bot and Bar Chromosome Chromosome 14 16 18 20 14 16 18 20 22 X 23andMe Confidential and Proprietary Information 24#30>>> >>> »»>> >>> Systematic, Scalable Research Platform Yields Novel Drug Targets Phenotypic Data 10,000's of Genome-Wide Association Study (GWAS) Hits Determine Disease Associated Genes and Directionality Genetic Data Researching to Understand Compelling Biology Identifying Druggable Proteins Phenome-Wide Association Studies (PheWAS) Reveal Additional Indications and Potential Safety Concerns Assessment of Unmet Need and Competitive Landscape Best Drug Targets Wet lab validated targets progress through standard stages of research toward the selection of preclinical lead molecules and clinical development 23andMe's database yields thousands of potential new drug targets Advanced biology and medicinal chemistry guide design of optimal compounds from initial targets Phenotypic breadth provides unique ability to uncover potential safety issues or possible indication expansions 23and Me Confidential and Proprietary Information 25#31Strategic Collaboration With gsk $300M 50/50 equity investment shared costs and profits Access to GSK technology and platforms "Our work with 23andMe is exceeding expectations and helping us advance a new way of thinking about drug discovery, one driven by genetics and the DNA we inherit. The insights of why some people are protected from or are at greater risk for certain diseases can lead to genetically validated targets that are at least twice as successful in clinical trials." 1 And some GSK unilateral programs. Dr. Hal Barron, Chief Scientific Officer & President R&D, GSK (2021) 30+ joint profit sharing programs¹ Inception-to-date targets discovered: Oncology Cardiovascular Immunology Metabolic Disease Neurology 23andMe Confidential and Proprietary Information 26#32We Have Generated a Deep Pipeline Across Multiple Therapeutic Areas Immuno-oncology P006¹ Cardio Metabolic NASH Dyslipidemia Other Immunology CD96 Neurology, Other Multiple Multiple Multiple Multiple Preclinical Note: As of January 15, 2021.1 Most projects are joint with GSK; P006 is a 23and Me wholly owned program. Phase 1 Phase 2 Phase 3 Next Milestone Phase 1 Data First Time in Human 23and Me Confidential and Proprietary Information 27#33Our Lead CD96 Program Was Identified With ML and Al Applied to Our Proprietary I/O Genetic Signature Large I/O market with over $41B expected in 2021 sales 2021 projected sales of leadin checkpoint inhibitors KEYTRUDA $17.0B OPDIVO YERVOY $7.9B $1.8B CD96 pathway validated with ML and Al applied to our proprietary I/O genetic signature which also identifies marketed I/O drugs Source: Evaluate Pharma historical and forecast estimates. I/O genetic signature shows opposing effects on autoimmune and cancer phenotypes tonsillectomy- 11d- anti tn alpha or dmards- juvenile ttd- igb.dry skin froquancy- iodine treatment ever- hypothyroidism- hyperthyroidism hashimotos grines vitiago- iqb.dandruff frequency celiac HLA all psoriasis rheumatoid arthrite look meds anti inf_alpha- thyroid removed- immunodeficiency squamous cell carcinoma - basal cell carcinoma actinic keratoss- non melanoma skin cancer- any skin cancer- Autoimmune Cancer We discovered the signaling pathway has a similar genetic I/O signature CD96 plays an important role in NK and T cell antitumor activity APC/Tumor cell GSK 608 T cell/NK cell CD96 + CD155 CD226 ITIM TIGIT GSK'608 (anti-CD96) is progressing through a Phase 1 multi-ascending dose trial in patients with advanced solid tumors 23andMe Confidential and Proprietary Information 28#34Our 23andMe I/O Asset, P006, is a Potent Activator of Human T Cells Suppressed by Tumor Antigen P006 pathway has a strong I/O signature unique to the 23and Me database Cancer Immune T F P006 receptor P006 ligand Immune APC Cancer Ligand Receptor Signaling protein Cancer cell P006 blocks tumor suppression of T cells and activates immune response Antibody Against P006 Receptor APC P006 ligand is strongly expressed in a subset of human tumors Immunohistochemistry for P006 ligand in Small Cell Lung Cancer >>> Stage Commit to candidate selection Phase 1 Phase 2 Initiation of Phase 1 is planned for CY21 CY21 Q1 Q2 Q3 Q4 IND CY22 Q1 Q2 Q3 Q4 23andMe Confidential and Proprietary Information 29#35We Are Rapidly Scaling Our Therapeutics Discovery Efforts Note: Fiscal year ends March 31.¹ Based on internal modeled estimates subject to scientific, development and compliance risks. Includes collaborated, 100% owned and royalty interests targets and adjusted for probability of technical success. Accelerating Number of Validated Targets¹ 2 FY19A 8 FY20A 18 FY21E 25 FY22E 31 FY23E 37 FY24E 23and Me Confidential and Proprietary Information 30#36G T T G A T 4 G Financials T G C A C A T C G G A G A T T T A T T C#370.9 FY15A Investing in Our Future Note: Fiscal year ends March 31. 1.3 FY16A 2.0 FY17A 4.4 FY18A Cumulative Genotyped Customers in M 7.8 FY19A 9.8 FY20A 11.2 FY21E Customer Acquisition Cost "Anyone trying to replicate the 23andMe model by focusing only on the data, and neglecting the central focus on empowered, engaged patients, is likely to fail – and never understand why." David Shaywitz Forbes Magazine 23and Me Confidential and Proprietary Information 31#38Balancing Growth With Profitability in Consumer and Research Services Note: Fiscal year ends March 31. Consumer and Research Services Investing in Our Future CRS Adjusted EBITDA ($ in M) ($86) FY19A $441 Gross Margin ($66) 23andMe Financials ($ in M, except for %) Revenue 44% FY20A $305 45% Sales & Marketing Expense $191 $111 ($9) FY21E $218 45% $44 ($10) FY22E $256 51% $69 Profitable Growth $26 FY23E $317 55% $76 $71 FY24E $400 58% $85 23and Me Confidential and Proprietary Information 32#39ANNUAL KITS SOLD (units in M) 1.5 FY21E 1.7 FY22E 2.1 FY23E Consumer Opportunity 2.5 Drivers of Future Growth FY24E CUMULATIVE SUBSCRIBERS (in M) 0.1 FY21E 0.7 FY22E Note: Fiscal year ends March 31. ¹ Based on internal estimates subject to scientific, development and compliance risks. Includes collaborated, 100% owned and royalty interests targets. 2 Adjusted for probability of technical success. 1.6 FY23E 2.9 FY24E CUMULATIVE TARGETS THROUGH VALIDATION¹ (number of slots²) 18 Therapeutics FY21E 25 FY22E 31 FY23E 37 FY24E 23and Me Confidential and Proprietary Information 33#40in M Cumulative Genotyped Customers Cumulative Subscribers $ in M Revenue Gross Margin % Consumer & Research Services Adjusted EBITDA Adjusted EBITDA Note: Fiscal year ends March 31. FY19A 7.8 $441 44% ($86) ($141) Financial Summary FY20A 9.8 $305 45% ($66) ($147) FY21E 11.2 0.1 $218 45% ($9) ($106) FY22E 12.6 0.7 $256 51% ($10) ($134) FY23E 14.3 1.6 $317 55% $26 ($109) FY24E 16.4 2.9 $400 58% $71 ($78) 23andMe Confidential and Proprietary Information 34#41Genetic Data Fuels Massive Market Opportunities LCHE TOID CD HEL ● AD P 10M+ genotyped customers and growing D McKinsey, "Telehealth: a quarter-trillion-dollar post-Covid-19 reality?" (2020). 2 EvaluatePharma, "World Preview 2020, Outlook to 2026" (2020). L I BEREND D U.S. Telehealth TAM $250B¹ Global Prescription Drug TAM $825B² Pharma R&D TAM $190B² 23andMe Confidential and Proprietary Information 35#42G T T G A T G T 5 T G G T C G A C Transaction Overview A T C G G A G A T T T A T T C#43Transaction Overview 23andMe, a pioneer in consumer health and therapeutic development, expects to enter into a definitive agreement to merge with VG Acquisition Corp. ("Virgin") Implied post-money enterprise value of $3.5 billion Transaction to be funded through a combination of Virgin's $509 million Cash in Trust and $250 million of committed PIPE financing Net proceeds used to fund cash to balance sheet for growth initiatives Current shareholders of 23andMe expected to maintain 81% pro forma ownership Sir Richard Branson and Anne Wojcicki to invest $25 million each 23and Me Confidential and Proprietary Information 36#44Transaction Overview PF Transaction ($M) 23andMe Illustrative Share Price Post-Money Valuation at Close PF Shares Outstanding Total Equity Value Less: Cash Less: Debt Total Enterprise Value 11% Illustrative Post-Transaction Ownership 6%2 2% 81% $10.00 444.8 $4,448 (984) $3,463 Existing 23and Me shareholders VGAC shareholders PIPE VGAC sponsor Estimated Transaction Cash Sources & Uses Cash Sources ($ M) SPAC Cash in Trust PIPE Total Cash Sources Cash Uses ($ M) Cash to Balance Sheet Estimated Transaction Expenses Total Cash Uses Note: Excludes the impact of 25.1 million public and private placement warrants and 3.8 million sponsor earnout shares vesting ratably at $12.50 and $15.00. Excludes equity awards issued at closing upon rollover of unvested 23andMe equity awards and new awards under the combined company's equity incentive plan. 23and Me cash balance of $289 million as of December 31, 2020. $509 250 $759 $696 63 $759 23andMe Confidential and Proprietary Information 37#45Valuation Framework Consumer X₁ Data Platform 23andMe Therapeutics 23and Me Confidential and Proprietary Information 38#46T 23andMe T T C A APPENDIX 23and Me Confidential and Proprietary Information#47Adjusted EBITDA Reconciliation $ in M Net Income (+) Other Expense (Income) (+) Interest Expense (Income) Operating Income (+) Depreciation and Amortization (+) Stock-Based Compensation (+) Restructuring and Exit Costs Adjusted EBITDA FY19A Note: Fiscal year ended March 31. ¹ For the year ended March 31, 2020, restructuring includes $881,000 of stock-based compensation expense related to restructuring activities. ($184) 0 ($189) 10 37 ($141) FY20A ($251) (1) (6) ($258) 23 44 45 ($147) 1 23andMe Confidential and Proprietary Information 39