#1INVESTOR OVERVIEW TA PANY allbirds KM 43 sind PATY DECEMBER 2021#2INVESTOR OVERVIEW This presentation contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on our management's current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. All statements contained in this presentation other than statements of historical facts, including statements regarding our annual recurring revenue, revenue, expenses and other results of operations; future financial performance, business strategy and plans; potential market and growth competitive position; technological or market trends; addressable market opportunity; and our objectives for future operations, are forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions including our ability to achieve or maintain profitability; our expectations and management of future growth; our market opportunity and our ability to estimate the size of our target market; the effects of increased competition as well as innovations by new and existing competitors in our market; and our ability to retain our existing customers and to increase our number of customers. Moreover, we operate in a very competitive and rapidly changing environment in which new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause our actual results or performance to differ materially from those contained in any forward-looking statements we may make. These factors, together with those described in greater detail in the filings we make with the Securities and Exchange Commission ("SEC"), including our prospectus filed with the SEC pursuant to Rule 424(b)(4) on November 4, 2021, and future reports we may file with the SEC from time to time, may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward- looking statements. allbirds Legal Disclaimer You should not rely upon forward-looking statements as predictions of future events. Although our management believes that the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither we, nor any other person, assume responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to publicly update any forward- looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations, except as required by law. This presentation includes market data and other statistical information from our own internal estimates and research as well as from industry and general publications and research, studies and surveys conducted by third parties. Industry publications, studies and surveys generally state that they have been obtained from sources believed to be reliable, although they do not guarantee the accuracy or completeness of such information. While we believe that each of these studies and publications is reliable, we have not independently verified market and industry data from third-party sources. While we believe our internal company research is reliable and the definitions of our market and industry are appropriate, neither such research nor these definitions have been verified by any independent source. This presentation includes references to our Net Promoter Score, which we use to measure our customers' brand loyalty and satisfaction and which can range from -100 to +100 based on the question: "How likely are you to recommend Allbirds to a friend?" Responses were collected from 0 (Not Likely) to 10 (Very Likely). Our Net Promoter Score is based on approximately 15,000 to 20,000 customer responses each quarter, which are collected in response to an email that is automatically generated 14 days after a purchase of our products and randomly distributed across our markets. Our Net Promoter Score was calculated by using the standard methodology of subtracting the percentage of customers who responded that they are not likely to recommend Allbirds (a score of 6 or lower) from the percentage of customers who responded that they are very likely to recommend Allbirds (a score of 9 or 10) and averaged across all geographic markets. The Net Promoter Score gives no weight to customers who declined to answer the survey question. This method is substantially consistent with how businesses across our industry and other industries typically calculate their Net Promoter Score. This presentation also includes references to our aided brand awareness, which we measure as the percentage of respondents who express knowledge of Allbirds when asked the open-ended question: "What footwear/apparel brands are you aware of?" and then being prompted with our brand name in response to the question: "Are you aware of any of the following brands?". We track aided brand awareness through surveys using third-party services and partner panels. These surveys typically consist of 25 questions and sample 1,800 complete responses from individuals in the United States each quarter. The identity of the respondents is confidential, but we collect information about certain respondent demographics on a voluntary basis through non-mandatory survey questions, which confirm that the respondents are representative of the U.S. demographic mix (census balanced). Surveys are sent out every week to about 150 individuals in order to eliminate bias due to timing of the study. We collect the data on a continuous basis and analyze survey results once the quarterly quota of complete responses is reached. This presentation also includes references to the performance of our Boston Back Bay store, for which we conducted a case study. These results may not necessarily be indicative of the performance of our other stores, or stores that we may open in the future. 2#3Who We Are#4allbirds We make better things in a better way. As a certified B Corp, the environment is a stakeholder. We believe we can be a global leader that inspires others to do good. We make better things in a better way to serve as a driving force in a new age of sustainable manufacturing. Where others see tension, we see opportunity. Certified B Corporation#5INVESTOR OVERVIEW Our next generation operating model integrates product, brand, and distribution Materials & Product Innovation Superior comfort and quality via materials R&D coupled with simple, purposeful design Competitive Moats Recognized partner of choice, which we believe creates a virtuous cycle of further innovation allbirds Purpose-Driven Lifestyle Brand Inspirational brand promise has created a deep connection with our customers Difficult for legacy brands to reverse-engineer sustainability into their products 9:08 ANT allbinds W6 Global Vertical Retail Distribution Strategy Spring Into Summer rights and coat way to your Greater value & convenience through a personalized digital & physical experience Seamless, cross-channel buying experience that delivers value and convenience to consumers 5#6INVESTOR OVERVIEW Our customers are profitable from first purchase and growing in value 1. Represents annual cohorts 2. Of our U.S. customers acquired between 2016 through 2019, approximately 43% of such customers returne for a second purchase by December 31, 2020 3. Through 12/31/2020 4. Data includes customers who make repeat purchases in consecutive years 5. Represents weighted average lifetime net revenue spend per multi-channel repeat customer compared to single-channel repeat customer for all cohorts from 2017 through June 30, 2021 6. Year-to-date as of 6/30/21 7. Applies to U.S. customers acquired between 2016 and 2019 allbirds Profitable within initial month of purchase 100% of all cohorts¹ have achieved contribution profit in excess of CAC within the initial month of purchase Strong repeat rate 43%² of customers returned for second purchase³ Increased spend upon return 25% average amount that repeat customers spend more in net sales in their second year4 80% of repeat orders include a different item6 26% of repeat orders include multiple items6 Best in class NPS 866 Net Promoter Score demonstrates that when customers get to know us, they fall in love with us High and Growing LTV $446 Average lifetime spend for top 25% of U.S. Customers 3,7 Highly Valuable Multi-Channel Customer Multi-Channel repeat customers spend 1.5x more in net sales than single- channel repeat customers5#7INVESTOR OVERVIEW The Allbirds customers span across all range of demographic and income allbirds By Gender By Income By Age Male 43% $200K+ 32% $150-200K 12% 65+ 14% 55-64 18% 45-54 16% Female 57% <$50K 11% $50-100K 24% $100-150K 21% <25 6% 25-34 30% 35-44 15% Note: Represents estimated demographics of U.S. customers in 2020, based on customers' email, billing, and shipping addresses and marketing data from Experian 7#8INVESTOR OVERVIEW Our Product Philosophy: Naturally- derived innovation at the core Performance Comfort Sustainability Naturally-derived Innovation Reductive Design Philosophy 8#9INVESTOR OVERVIEW Our Material and Innovation Platform Allows Us to Consistently Deliver New and Differentiated Products, while Treading Lighter on the Planet This is how we win. allbirds MATERIAL INNOVATION Wool SweetFoam DESIGN PHILOSOPHY Partnerships, energy drops, exclusives, events, and anything else that life throws at us PRODUCT INNOVATION New material innovations unlock potential for differentiated styles, formats, and use occasions Focus on comfort and versatility Tree Performance Comfort Perform Footwear & Apparel Trino allbird Discrete Branding Plant Leather (Expected '22) 0000 0000 Seamless Design Lifestyle Footwear & Apparel MA 9#10INVESTOR OVERVIEW Our Products allbirds FOOTWEAR APPAREL PERFORM Best for traditional athletic activities with natural materials engineered for technical performance. Tree Dasher Wool Dasher Mizzles Tree Dasher Relay Perform Tops Visually athletic and technically designed, with a versatile casual style that can cross into daily life, Trail Runner SWT A Perform Socks A Perform Bottoms LIFESTYLE Everyday classic casual footwear for moving through daily life with versatility, comfort, and style. Wool Runner Wool Runner Mizzles Wool Lounger Wool Piper Tree Runner Underwear Tree Topper Designed for everyday life with the flexibility to meet needs from the time you wake up to the moment you fall asleep. 20 Tree Skipper Socks Tree Lounger Tees & Tops Tree Piper Tree Breezer ...and more in 2022! 10#11INVESTOR OVERVIEW Footwear: "Difficult to Make - Easy to Merchandise" M The Dasher One great innovation spawns a product franchise, creating newness and brand excitement, while driving growth allbirds The Dasher Product Family Invest heavily upfront to make groundbreaking innovations that establish footwear franchises Colorway Seasonal color refreshes keep customers engaged and coming back Material & Upper Design New styles and use cases on existing silhouettes Further Design Extensions Partnerships, energy drops, exclusives, events and anything else that life throws at us ww Limited Edition Crest Limited Edition Cyclone Limited Edition Erupt Wool Dasher Mizzles Tree Dasher Core ALAMA Oiselle Partnership Limited Edition Gaia Wool Dasher Mizzles Mid Braulio Amado Partnership Limited Edition Flame Tree Dasher Relays Jeff Staple Partnership 11#12INVESTOR OVERVIEW Digitally-led Vertical Retail Distribution Meet Our Customers Where They Are 99%+ DTC sales 98% Gross Sales at Full Price 1.5x Higher multi-channel repeat customers spend¹ allbirds 1. Compared to single-channel repeat customer spend; represents weighted average lifetime net revenue spend per multi-channel repeat customer compared to single- channel repeat customers for all cohorts from 2017 through June 30, 2021 Digital Seamless Experience and Convenient Discovery Own Customer Relationship Wool Upper Highly valuable multi-channel customer allbirds Padded Insole Lightwe Engaging digital platform encourages store visits and informs location selection Our Customer B Stores serve as brand beacons that drive brand awareness, web traffic and digital replenishment Price Control allbirds More Product Value Physical Retail Immersive Experience, Community Building and Strong Unit Economics 12#13INVESTOR OVERVIEW Physical retail is strong on a standalone basis... ● ● ● ● Highly profitable with strong financial performance before considering overall region lift Capital efficient with attractive payback periods Data-driven approach to market prioritization and site selection Positioned well to take advantage of physical retail's recovery from the pandemic allbirds allbirds Global Retail Footprint 31 Stores as of 9/30/2021 7 Countries with Stores O Alira US Retail Footprint 19 Stores as of 9/30/2021 12 Cities / Regions 1. Reflects the first 12 months of all U.S. locations operating in 2019, including stores with first 12 months affected by COVID-19 post-March 2020 2. Ground floor includes customer accessible space plus back of house rooms for operations, but does not include any remote storage rooms or basements/upper levels 3. All U.S. stores that were operating in 2019 generated approximately $4.3 million in average unit volume, or AUV, in their first 12 months of operation, including the stores that had their first 12 months of sales affected by COVID-19 after March 2020 US Pre-COVID Store Success $4.3M Store AUV in first 12-Mo¹ $2K+ Average Net Revenue / Ground Sq. Ft. 23 WE ARE ALLBIRDS 13#14INVESTOR OVERVIEW We Invested Early in Entering Key Markets With foundation established, planning to grow in existing regions We can reach customers in 35 countries in a matter of days with quick, reliable service $52M 2020 International Net Revenue allbirds 112% 2018-2020 International Net Revenue CAGR Na Current countries served United States Launched: Mar 2016 Approx. Pop: 300M+ Canada Launched: Mar 2018 Approx. Pop: 40M+ Australia Launched: Nov 2017 Approx. Pop: 25M+ 米 United Kingdom Launched: Oct 2018 Approx. Pop: 65M+ European Union (27) Launched: Jul 2019 Approx. Pop: 450M+ New Zealand Launched: Mar 2016 Approx. Pop: 5M 14 China Launched: Apr 2019 Approx. Pop: 1.4B+ Japan Launched: Jan 2020 Approx. Pop: 125M+ South Korea Launched: Aug 2020 Approx. Pop: 50M+ 14#15Growth Strategies The Flight Plan#16INVESTOR OVERVIEW Existing market provides significant whitespace for us to further impact If all 24B pairs of shoes¹ produced in 2019 had the same 30% lower carbon footprint as Allbirds, the industry would have saved 98 million tonnes of CO₂e² equivalent to taking 21M cars off the road allbirds Sources: Statista, American Apparel and Footwear Association, McKinsey, Quantis Massive Market... $1.8T Global Apparel & Footwear Market³ 7 Pairs Average #Shoes Purchased by Americans in 20184 68 Garments Average # Garments Purchased By Americans in 20184 ...Universal Problem Environmental Harm ~4% Of all global GHG emissions in 2018 were from the fashion industry5 Limited DTC Distribution O Number of top 25 shoe brands with 50%+ DTC sales6 1. Statista Inc., Quantity of footwear produced worldwide from 2015 to 2019 2. Assumes all 24B pairs of shoes have a carbon footprint equal to that of an average pair of sneakers as estimated by Allbirds 3. Statista Inc., Footwear market size worldwide from 2020 to 2027; Statista Inc., Global Apparel Market - Statistics & Facts, published January 22, 2021 4. American Apparel and Footwear Association, ApparelStats & ShoeStats 2019, published 2019 5. McKinsey & Company and Global Fashion Agenda, Fashion on Climate: How the Fashion Industry Can Urgently Act to Reduce Its Greenhouse Gas Emissions, published August 2020 6. Figure represents internal estimate and supported by publicly available information 16#17INVESTOR OVERVIEW Growth Plan Summary: Our Strategic Plan & Growth Initiatives T STRATEGIES M PRODUCT Make the world's most comfortable footwear & apparel, powered by world-leading sustainable material innovation and design GROWTH INITIATIVES Innovate & make great new products with natural, sustainable materials allbirds BRAND Build a global brand that attracts & inspires a large, loyal community of customers who love our products Raise awareness & grow our customer community COMMUNITY Inspire that community of customers to keep coming back and to serve as our biggest advocates Deepen engagement with our customer community VERTICAL RETAIL Serve that global community (and all our customers) through a digitally-enabled, seamless cross- channel experience Expand vertical retail distribution to meet our customers where they are INFRASTRUCTURE Deliver the highest quality products on time at a great value to our customers through a low- carbon, technology-enabled supply chain Optimize infrastructure for profitable growth IMPACT & ESG Tread lighter and have a positive impact on all stakeholders, including Planet, People, & Investors 17#18INVESTOR OVERVIEW Innovate & Make Great New Products with Natural, Sustainable Materials New Materials Plant-based leather-alternative (Expected $22 Refreshing classic silhouettes ● allbirds Expand Footwear ● ● ● Broaden assortment Broaden performance footwear offerings New styles and colors New fit and size ranges Broaden Apparel Offering Natural performance apparel Functional casual apparel 18#19INVESTOR OVERVIEW Raise Awareness & Grow Our Customer Community allbirds We are still just saying "Hello!" Only 11% of the U.S. population know of Allbirds U.S. Aided Brand Awareness Funnel 8.4% Q4 2020 10.9% Q1 2021 250bps increase in aided brand awareness Continue to increase brand awareness & consideration by telling our story, building our community, and launching new products 1244 allbirds Shoes Made With Sustainable, Natural Materials#20INVESTOR OVERVIEW Raise Brand Awareness and Affinity Through a Multi-Channel Marketing Approach Word-of-mouth Our early adopters told our story to their friends and raved about us on their social media channels allbirds Dear Mr. Bezos, yana We recently saw a product Amazon makes and sells that is strikingly similar to our Wool Runner. Last week, we were asked by Christiane Amanpour about this, and whether we'd been in touch to make sure that you are aware of our open-sourced, sustainable technologies and their applicability to your product. The prompt felt fair, and we hope this reaches you We are flattered at the similarities that your private label shoe shares with ours, but hoped the commonalities would include these environmentally friendly materials as well. Alas, we're here to help. As we've done with over 100 other brands who were interested in implementing our renewable materials into their products, including direct competitors, we want to give you the components that would make this shoe not just look like ours, but also match our approach to sustainability In partnership with Braskem, we successfully created the world's first gres sustainable version of the foam used on the bottoms of sneakers igious materials. B Thought Leadership Our transparent communication and bold thought leadership establishes trust with our customers, allowing us to educate and empower Meaningful Partnerships Partnerships allow us to engage customers at the edges of our brand territory albirds TV & Other Media Our TV creative approach is inspirational, irreverent, unassuming, and relays our products' natural materials benefits Community Deepening relationships with consumers through Allgood Collective (AGC) community of individuals We have a highly considered, creative and insight-led approach to delivery impactful communications that drive growth and build brand equity Digital & Performance Marketing Diversifying from traditional social media into podcasts, out-of- home, theatre, and community and retail marketing 20#21INVESTOR OVERVIEW Growing Engagement with Community Creates Strong Repeat Behavior allbirds Net Sales from Repeat Customers and New Customers 59% 41% 2018 54% 46% 2019 47% 53% 2020 Net Sales from New Customers Net Sales from Repeat Customers Percentage of Customers Who Repeat Purchase(¹) Second to third purchase 43% Second Purchase Third to fourth purchase 50% Third Purchase 55% Fourth Purchase ¹ Of our U.S. customers acquired between 2016 through 2019, approximately 43% of such customers returned for a second purchase by December 31, 2020. After a second purchase, 50% of those customers purchased again, and after a third purchase, 55% of those customers purchased again. 21#22INVESTOR OVERVIEW Deepen engagement and increase purchase frequency through "The Three Ps" allbirds 9,000 PRODUCT PERSONALIZATION WOMEN'S TRY ON Tafel Tree Runner Porte (te Sole) Cur breathable, silky smooth sneaker mode will responsibly sourced eucalyptus free foer treads lightly in everything you do. BUY NOW WOMEN'S TRY ON Capture and share the moment. Try a foot selfie or full length mirror shet. e Runner (White Scle) PROXIMITY allbirds 22#23INVESTOR OVERVIEW Expand Our Store Fleet While Continuing to Grow Digital Sales Potential for hundreds of locations in the United States Proven 4-wall economics with strong return on capital New stores enhance digital Also significant new store opportunities around the globe 27 Allbirds allbirds Global Store Count¹ 123 Peloton 145 Warby Parker 521 Lululemon allbirds Minneapolis, Minnesota April 2021 Boulder, Colorado June 2021 allbirds Palo Alto, California July 2021 allbirds Seoul, South Korea & Office April 2021 allbirds allbirds Atlanta, Georgia August 2021 Tokyo (Marunouchi), Japan June 2021 allbirds Pasadena, California June 2021 allbindis NYC (Columbus) July 2021 allbirds 4.40-1ff Los Angeles, California September 2021 allbirds 1. Peloton showroom count based on latest annual report as of 6/30/21, Warby Parker store count as of June 30, 2021 based on company's latest S1 filing, Lululemon store count as of 1/31/2021 based on their latest filing and Allbirds store count as of 6/30/21 23#24INVESTOR OVERVIEW Commitment to Profitable Growth: Optimize unique and agile infrastructure allbirds From day one, we've built an agile global supply chain and made a significant investment in technology 'c O 1 Gross margin improvement • Lower costs as we scale Favorable product, channel, and geographic mixes ● 2 Marketing efficiency improvement ● ● Favorable channel mix Greater awareness among consumers 3 Operating expense improvement Scale and leveraging historical infrastructure investments 24#25INVESTOR OVERVIEW Executive Leadership Team Tim Brown Co-Founder, Co-CEO, Director allbirds PHOENIX Mike Bufano Chief Financial Officer Panera BREAD PEPSICO Benny Joseph Chief Technology Officer intuit EXTRADE Sandeep Verma Chief Commercial Officer P&G LIZ EARLE The Flock That Will Lead Us There Joey Zwillinger Co-Founder, Co-CEO, Director TerraVia INDUSTRY VENTURES Joe Vernachio Chief Operating Officer MOUNTAIN HARD WEAR B THEI NORTH FACE Laila Tarraf Chief People Officer P Peet's COFFEE Walmart.com Senior Leadership Lisa Halbower-Fenton VP, Product Development Reebok Himanshu Sinha VP, Digital BLUE NILE ebay James Connolly Senior Director, Product Keiichi Takehana Managing Director, Japan & S.Korea ARCTERYX Jad Finck VP, Innovation & Sustainability TerraVia Dick Boyce Lead Director, Allbirds Co-Founder, TPG Operating Group Nancy Green President & CEO, Old Navy Ahmad Zakaria VP, Operations Booz | Allen Chevron Hana Kajimura Head of Sustainability BAINO & COMPANY Non-Executive Board of Directors Brandy Yu Managing Director, China adidas dyson Neil Blumenthal Co-Founder & Co-CEO Warby Parker Dan Levitan Co-Founder & Partner, Maveron Daniel Li VP, Legal FACEBOOK GIBSON DUNN Kyle Khasigian VP, Finance ALTA CREDIT SUISSE MOTORS Travis Boyce Head of Global Retail Chobani Morgan Stanley Zoe Dodge Asia Production Head, Vietnam County Manager Vadidas Mandy Fields CFO, e.l.f. Beauty Emily Weiss Founder & CEO, Glossier 25#26INVESTOR OVERVIEW Continued Strong Revenue Growth and Gross Margin Expansion NET REVENUE ($M) $126 2018 % YOY $194 2019 54% 93% YOY Int'l allbirds $219 13% 2018-2020 CAGR US International 2021 YTD Growth Accelerating after Q1 $50 32% 2020 Q1 2021 Q2 2021 Q3 2021 18% $68 $63 34% 33% GROSS PROFIT ($M) $59 2018 % Margin 46.9% $99 2019 51.0% $113 2020 51.4% $26 Q1 2021 52.0% Strong Gross Margin Improvement YOY 1. Adjusted EBTDA is a non-GAAP measure. For a reconciliation to the nearest GAAP measure, see supplemental information at the end of the presentation. $38 +454 Basis Points 2018-2020 Q2 2021 Q3 2021 56.1% $34 54.1% ADJUSTED EBITDA ($M)¹ ($1) 2019 % Margin (1%) ($16) 2020 (7%) ($7) Q1 2021 (14%) $1 Q2 2021 2% +124 Basis Points YTD2021 EBITDA Margin ($6) Q3 2021 (10%) 26#27INVESTOR OVERVIEW Allbirds hopes to deliver outstanding ESG outcomes, building on our already strong ESG credentials SUSTAINALYTICS a Morningstar company allbirds Top 10% of all companies assessed INDICATIVE ESG RISK RATING ASSESSMENT¹ Low Risk Category which would put Allbirds in the 50% By 2025² Top 10% of Footwear companies Carbon Neutral Since 2019 and committing to reducing our CO₂e per unit: 95% By 2030 THE FLIGHT PLAN Allbirds Sustainability Plan REGENERATIVE AGRICULTURE WATER CLIMATE CHANGE Reverse climate change through better business RENEWABLE MATERIALS FAIR LABOR (including Wages, Diversity & Gender Equality, Occupational Health & Safety, Ethical Conduct) CHEMISTRY ANIMAL WELFARE RESPONSIBLE ENERGY 1. As of August 2021; Sustainalytics, a Morningstar company and a globally recognized provider of ESG research, ratings and data, has provided the ESG Risk Rating as set forth in the Summary ESG Risk Rating Report (Aug 2021), https://www.sustainalytics.com/corporate-solutions/sustainable-finance-and-lending/published-projects 2. By end of 2025, relative to a baseline of average emissions per unit would be in 2025 without any further action to limit emissions TRACEABILITY & TRANSPARENCY 27#28INVESTOR OVERVIEW Profit & Purpose - Aligned to Win 1 We make innovative products through naturally-derived R&D that our customers love... 2 ...and deliver an incredible customer experience... 3) ...in a huge market... 4 LO allbirds ...via a modern, vertical distribution model... nd we are doing so by building a brand platform atop the most important consumer trend of this generation... Of our U.S. customers acquired between 2016 through 2019, approximately 43% of such customers returned for a second purchase by December 31, 2020 Year-to-date as of 6/30/21 Statista Inc., Footwear market size worldwide from 2020 to 2027; Statista Inc., Global Apparel Market -Statistics & Facts, published January 22, 2021 Represents weighted average lifetime net revenue spend per multi-channel repeat customer compared to single-channel repeat customer for all cohorts from 2017 through June 30, 2021 43% of customers repeat for second purchase¹ 86 NPS² -$1.8T Global Apparel & Footwear Market³ 1.5x Spend from repeat multi- channel customers4 Climate Change 28#29Founder's Letter We started Allbirds as outsiders to the footwear and apparel industry. When we came together, we aligned on a few central beliefs and set out to change the way consumers think about what products they wear, starting with the ones on their feet. The prevailing doctrine of the synthetic-based footwear and apparel world was that comfort equals ugly, and that natural materials were more expensive, less durable, or less capable of sending you to a personal best, or put another way, worse. They questioned whether consumers really cared about how their consumption affects the environment, and why a company needed to control its customer experience end-to-end. Our vision was the inverse of all of this. We knew that natural materials could make products that were more comfortable, more beautiful, and higher performing. Nature has been at this a lot longer than companies using barrels of oil to make the plastics that the rest of the industry relies on. The world is changing fast, as is consumption, and we are well positioned to be at the forefront of this generational change. Consumers demand much more from companies today. In 2016, a poll of our customers asking their top reason for purchasing Allbirds revealed that only 7% did so because of our environmental credentials. Fast forward to 2020, and almost 50% of our surveyed customers emphasized the sustainability of our shoes in post-purchase discussions. Our mission-better things in a better way-means that we align our purpose of reversing climate change with our product quality and our financial outcomes. The more we sell, the better our business gets, and the closer we get to a net-zero emission future. Our products emit much less pollution than the industry average, and we have a plan to move our per-unit impact on the doorstep of neutral by 2030. allbirds Tread Lighter, Tim & Joey 1. Reflects Net Promoter Score of 86 for the first half of 2021. 2. Reflects approximately 1.5 times more spend from omni-channel repeat customers as compared to single-channel repeat customers. 29#30Supplemental Information#31INVESTOR OVERVIEW Reconciliation of Adjusted EBITDA to its most comparable GAAP measure, net loss: (In Thousands) Net loss Net loss margin Add (deduct): Stock-based compensation, including common stock warrant expense Depreciation and amortization Other expense (income) Interest expense Income tax provision (benefit) Adjusted EBITDA Adjusted EBITDA margin allbirds Year Ended December 31, 2019 ($14,527) (8%) $4,318 2020 ($25,860) (12%) $6,684 $3,378 $7,110 $1,743 $452 $96 $297 $3,675 ($4,113) ($1,317) ($15,430) (1%) (7%) Mar 2021 ($13,197) (27%) $1,757 $1,806 $2,691 $51 $28 ($6,865) (14%) Quarter Ended Jun 2021 ($7,931) (12%) $2,772 $2,488 $3,288 $36 $437 $1,091 2% Sep 2021 ($13,802) (22%) $3,158 $2,410 $2,039 $53 ($167) ($6,309) (10%) 31