#1* + X * Casper Awakening the Potential of a Well-Rested World August 2021 + X ●#2с Disclaimer Non-GAAP Financial Measures This presentation, and the accompanying oral presentation, includes Adjusted EBITDA, a financial measure not presented in accordance with the generally accepted accounting principles in the United States ("GAAP"). This financial measure is not a measure of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing the Company's financial results. Therefore, this measure should not be considered in isolation or as an alternative to net loss or other measures of profitability, liquidity or performance under GAAP. You should be aware that the Company's presentation of this measure may not be comparable to similarly titled measures used by other companies, which may be defined and calculated differently. See the financial supplementary information included in this presentation for a reconciliation of this non-GAAP measure to the most directly comparable GAAP measure. Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our expectations surrounding our market opportunity; our expectation to achieve Adjusted EBITDA profitability by specified timelines; our competitive position; our upcoming retail partnerships; our expectations regarding consumer and corporate behavior, including as a result of the COVID-19 pandemic; our future results of operations and financial position, including with respect to the fiscal year ending December 31, 2021; our business strategy and plans, and objectives of management for future operations and creating long term value. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: the COVID-19 pandemic could adversely impact our business, financial condition and results of operations; our ability to compete successfully in the highly competitive industries in which we operate; our ability to maintain and enhance our brand; the success of our retail store and retail partnerships expansion plans; our ability to successfully implement our growth strategies related to launching new products; the effectiveness and efficiency of our marketing programs; our ability to manage our current operations and to manage future growth effectively; our past results may not be indicative of our future operating performance; our ability to manage our supply chain commensurate with demand and successfully and timely deliver merchandise to our retail partners and customers; our ability to attract new customers or retain existing customers; the growth of the market for sleep as a retail category and our ability to become a leader or maintain our leadership in the category; the impact of social media and influencers on our reputation; our ability to protect and maintain our intellectual property; our exclusive reliance on third party contract manufacturers whose efforts we are unable to fully control; our ability to effectively implement strategic initiatives; our ability to transfer our supply chain and other business processes to a global scale; risks relating to fluctuations in the cost and availability of raw materials and fuel; risks relating to our international operations and expansion; we are dependent on our retail partners; general economic and business conditions; we could and our service providers be subject to system failures or interruptions, cyber-based attacks and security breaches and other incidents; risks relating to changing legal and regulatory requirements, and any failure to comply with applicable laws and regulations; we may be subject to product liability claims and other litigation; we may experience fluctuations in our quarterly operating results; we have and expect to continue to incur significant losses; risks relating to our indebtedness; our need for additional funding, which may not be available; risks relating to taxes; our ability to attract and retain qualified personnel; future sales by us our stockholders may cause the market price of our stock to decline; and risks and additional costs relating to our status as a new public company. These and other important factors discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2020 and our other filings with the Securities and Exchange Commission could cause actual results to differ materially from those indicated by the forward-looking statements made in this presentation. Any such forward-looking statements represent management's estimates as of the date of this presentation. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. 2#3!!!! + ~2M Customers Since Founding(¹) 3% 72 25+ $700M+ 44% 55+ 2014 2015 2016 2017 2018 2019 (1) Casper's internal data and analytics since founding. (2) Per Frost & Sullivan "Global Total Addressable Market (TAM) Assessment for the Sleep Economy," which was commissioned by the Company in 2019. Based off Q2'21 Mattress Net Revenue. "U.S. Mattress Market" includes Adult, Child and Infant Mattress categories along with Hotels, Travel and Health care applications. (3) As of Q2'21 (4) Estimated based on Casper's internal communications and press data and analytics Q2'21. U.S. Mattress Market (2) Retail Stores (3) Retail Partnerships (3) Marketing Invested in the Brand Since Founding U.S. Aided Brand Awareness (4) Casper World's First Sleep Brand Differentiated Products (3) Launch of The Casper Mattress $169M 2016 $251M 2017 Launch of The Dog Bed Launch of Pillows & Sheets $358 2018 Permanent Retail Store Opens in NY $439M 2019 Launch of The Wave Mattress $497M 2020 Established Retail Partnerships Including: Launch of The Essential Mattress Amazon (2015), Target (2017), Costco (2018), Raymour & Flanigan (2019), Nordstrom (2020) Launch of The Glow Light Launch of The Hybrid Mattresses Net Revenue 2020 Announced Partnership with Bed Bath and Beyond Launch of The Nova and Wave Snow Mattresses. Launch of The Nova Mattress 2021 3#4What Makes Casper Special с ū ( 1 Significant Market Opportunity for Casper 5 3 Differentiated Mattress Design Re-Inventing a Go-to-Market Strategy with the Customer at the Center Technology-Based, Data Driven and Agile Business Drive Margin Expansion Differentiated & Powerful Marketing Approach 4#5A Significant Market Opportunity for Casper Sleep is the Third Pillar of Wellness and Represents a Large Opportunity Sleep $432bn¹ Nutrition $702bn² Fitness $595bn² Wellness $432bn Global Sleep Economy Addressable Market¹ G! Ambience Optimization³ $9bn Bedroom Furniture $106bn Pillow³ $15bn ☆ Airplane Sleep Accessories³ $1bn CPAP Devices $25bn Bedding³ $98bn Mattress $81bn Y Pajamas ³ $32bn Pet Sleep³ Pet Beds & Pet Medicine, $5bn Sleep Supplements $18bn $79bn US Sleep Economy TAM¹ Current Casper Categories³ Sleep Technology Tracking Devices $15bn Sleep Services $11bn สูง A Medical Diagnostic Services & Devices $15bn с (1) Per Frost & Sullivan "Global Total Addressable Market (TAM) Assessment for the Sleep Economy," which was commissioned by the Company in 2019. Travel, Hospitality, and Healthcare represent commercial applications within The Sleep Economy. (2) Per Global Wellness Institute: 2018 Global Wellness Economy Monitor. (3) Pillow and Bedding fall under Casper's "Soft Goods" product category. Ambience Optimization falls under Casper's "Connected Sleep" product category. Pet Sleep, Airline Sleep Accessories, and Pajamas fall under Casper's "Accessories and Third-Party Products" product category. "Current" references data as of 6-30-2021. 5#6с What Makes Casper Special Differentiated Mattress Design Dedicated research & development team committed to dreaming up ways to better make you sleep + 3 Layers of perforated breathable foam to help keep you cool + + Warm Air In Gel Pods + AirScape™M 3 w/Cooling Gel + Zoned SupportTM Max provides continuous ergonomic zones for full-body relief Gel Pods provide more support than foam alone and are strategically placed under your waist and lower back to prevent sinking and keep your spine aligned + Cool Air Out 6 +#7F Innovative Offering Beyond Mattresses 4:07 - Casper Dim City Glow lights are gradually getting less bright. Set Wake-Up 81 C Group Controls ||#8C What Makes Casper Special Sees Baby Animals Ad Casper Awareness Walks by Store Casper Re-Inventing a Go To Market Strategy with the Customer at the Center Visits Casper.com Casper A magical light for better sleep. A light designed to Consideration Sees Casper at Target Casper Calls Casper Sleep Specialist Intent Visits Casper.com Buys mattress & pillow for daughter online Purchase Visits Casper store Casper Purchases King Mattress, Sheets and 2 pillows for master bedroom Repeat 8#9с What Makes Casper Special Technology Based, Data- Driven and Agile Business Drive Margin Expansion We constantly capture data from multiple sources and apply actionable insights to improve our business Casper.com Casper Labs Data Social Data Facebook Advanced Analytics Retail Store Data Customer Reviews Customer Research Competitive Insights Retail Partner Data Glow App Casper Product Brand & Consumer Experience Go-to-market Strategy We Believe We Know More About the Business of Sleep Than Any Other Company 9#10с What Makes Casper Special Differentiated & Powerful Marketing Approach Continuing to make sleep cool ZZZ * Cozy Clever Zzzealots rew's Ne We're putting this billboard to sleep tonight so you can sleep too. CASPER.COM/LIGHTSOFF SLEEP 4106 BEDTIME C LOVE YOUR TOMORROW. et comfortable with uncomfortable. SNOW MATTRESS C Ding, ding, ding. co Casper November 13 CO pc No matter what the question is, sleep is always the answer. COO COOL Casper MEET COZY Maybe you need less coffee and cooler sheets. ... Casper WE'LL HANDLE#11Significant Opportunity ● ● ● Potential to Scale Expanding distribution through Retail Partnerships - 25+ as of Q2'21 72 owned Company Stores strategically located through North America at the end of Q2'21 $700M+ of marketing invested behind brand since founding, as of Q2'21 ● ● Financial Summary We believe that great brands have the ability to change culture ● Large Addressable US Market at $79B(1) $14B of Mattress sold each year in US(¹) Going beyond mattress with pillows, sheets and other related products Strong Financials FY2020 Net Revenue $497M, Q2'21 Net Revenue $152M $50M Cash/ Cash equivalents on Balance Sheet as of Q2'21 Strong 50%+ gross margins averaged FY2020 ● $169 2016 $251 2017 39% 2016 с (1) Per Frost & Sullivan "Global Total Addressable Market (TAM) Assessment for the Sleep Economy," which was commissioned by the Company in 2019. "U.S. Mattress Market" includes Adult, Child and Infant Mattress categories along with Hotels, Travel and Healthcare applications. Net Revenue CAGR: 31% $358 2018 Gross Margin $439 2019 51% 2020 $497 2020 11#12с What Makes Casper Special COVID-19 Macro Environment Providing Tailwinds to Casper Changes in consumer behavior that have the potential to benefit Casper 1 Cocooning Feeling Comfy, Safe, Secure and Cozy is Core to the Casper Brand 4 Home Improvements Time at Home Driving Increased Investment in Home 2 Wellness Health and Wellness Focus Includes Sleep as a Focal Point Casper: 5 Suburbanization Desire for Suburb vs. City Living Leading to Increased Moving & Household Creation Casper Casper 3 Wallet Share Shifts Changes in Consumer Spending Driving More Household Consumer Purchases 6 Purchasing Platform Optionality E-Commerce Benefits vs. In- Person Shopping Concerns 12#13с What Makes Casper Special Expected Adjusted EBITDA Profitability in 2022(¹) Path to Profitability Levers Continue Strong Revenue Growth Gross Margin Expansion Disciplined Marketing with Natural Leverage Scalable Overhead Structure ● ● ● ● Exceptional retail partner success and demand Significant opportunity to enhance brand awareness Expanding customer reach Continued product innovation Onboard new Tier 1 and 2 suppliers, add redundancies Further product optimization Natural leverage as revenue from retail stores & partners increases with minimal incremental marketing investment Continue capitalizing on data to spend more efficiently Replacement cycles leading to lower acquisition costs Experienced leadership and management team Flexible retail staffing model Majority of overhead in place (1) Reflects management's assumptions as described in the Company's Press Release dated 8/10/2021 13#14с Why Invest in Casper? ✓ Trusted & Known Brand Demonstrated Ability to Capture Market Share from Traditional Players ✓ Innovative Products & Services ✓ Integrated Omni-Channel Approach ✓ Data Driven Approach to Drive Margin Expansion ✔ Expected Adjusted EBITDA Profitability in 2022 Casper Cast O www Coper THE PERFECT MATTRESS FOR EVERYONE 539 Casper 14 Casper It's bedtime somewhere#15Appendix Casper:#16с Historical Financials - Income Statement (In thousands, unaudited) Revenue Cost of goods sold Gross profit Operating expenses: Sales and marketing expenses General and administrative expense Restructuring expenses Total operating expenses Loss from operations Other (income) expense Net interest expense Other (income) expense, net Total other expenses, net Loss before income taxes Income tax expense Net loss Other comprehensive income (loss) Currency translation adjustment Total comprehensive loss Net loss per share attributable to common stockholders, basic and diluted Weighted-average number of shares used in computing net loss per share attributable to common stockholders, basic and diluted YTD $ June 30, 2021 June 30, 2020 279,434 $ 110,196 $ 140,218 53,131 139,216 57,065 80,427 92,663 17,985 191,075 (51,859) 4,297 (1,266) 3,031 (54,890) 36 (54,926) (34) (54,960) $ (1.34) Prior YTD 41,118,464 33,181 42,017 4,129 79,327 (22,262) 2,152 (219) 1,933 (24,195) 10 (24,205) (737) (24,942) $ (0.72) QTD June 30, 2021 June 30, 2020 279,434 $ 110,196 140,218 53,131 139,217 57,065 80,427 92,663 17,985 191,075 (51,859) 4,297 (1,266) 3,030 (54,889) 36 (54,925) (34) (54,960) $ (1.33) Prior QTD 33,808,771 41,439,468 33,181 42,017 4,129 79,327 (22,262) 2,152 (219) 1,933 (24,195) 10 (24,205) (737) (24,942) (0.61) 39,708,401 16#17Historical Financials - Adjusted EBITDA (In thousands, unaudited) (in thousands) Net loss Income tax expense Interest (income) expense Depreciation and amortization Stock based compensation(a) Restructuring (b) Other Legal settlements (c) Transaction costs(d) Adjusted EBITDA Three months ended June 30, 2021 2020 (33,746) 17 1,781 4,144 3,563 17,584 (6,657) (24,205) 10 2,152 3,195 3,284 4,129 (11,435) Six months ended June 2021 2020 (54,926) 36 4,297 7,967 7,349 17,985 (17,292) (58,671) 26 4,308 6,343 5,945 5,440 1,500 787 (34,322) a) Represents non-cash stock-based compensation expense. b) The 2020 costs are associated with implementing strategic changes in the companies' business structure including reductions in work force and exiting of certain lines of business or geographies. The 2021 costs include lease exit costs and asset impairments associated with the consolidation of office space into the New York metro area and certain severance and other employee separation costs. Amounts related to litigations settlements. c) Amounts related to litigation settlements. C d) Represents expenses incurred for professional, consulting, legal, and accounting services performed in connection with our initial public offering, which are not indicative of our ongoing costs and which were discontinued following the completion of our initial public offering. 17#18C Historical Financials - Balance Sheet (In thousands, unaudited) Assets Current assets: Cash and cash equivalents Restricted cash Accounts receivable Prepaid expenses and other current assets Inventory, net Total current assets Property and equipment, net Other assets Total assets Liabilities, Convertible Preferred Stock and Stockholders' Deficit Current liabilities: Accounts payable Accrued expenses Deferred revenue Other current liabilities Total current liabilities Long-Term Debt Other liabilities Total liabilities Total stockholders' deficit Total liabilities, convertible preferred stock and stockholders' deficit $ 69 69 69 69 69 $ $ $ $ June 30, 2021 As of December 31, 2020 49,658 $ $ 33,045 $ 13,098 $ 58,050 $ 153,851 55,935 1,345 211,129 $ 54,713 66,128 9,596 10,907 141,346 66,375 25,488 233,209 (22,080) 211,129 $ 88,922 3,162 27,663 11,026 35,531 166,304 66,529 1,368 234,201 47,612 54,741 7,430 9,498 119,281 65,546 23,907 208,734 25,467 234,201 18#19с Historical Financials - Cash Flow (In thousands, unaudited) Cash flows used in operating activities: Net loss Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization Stock based compensation expense Asset impairments related to Restructuring Other Changes in assets and liabilities: Accounts receivable, net Prepaid expenses and other current assets. Inventory Other assets Accounts payable Accrued expenses Deferred revenue Other liabilities Net cash used in operating activities Cash flows used in investing activities: Purchases of property and equipment Note receivable Net cash used in investing activities Cash flows provided by financing activities: Exercise of stock options and warrants Proceeds from Fundraising Proceeds from borrowings Repayment on borrowings Payment of deferred financing costs Net cash provided by financing activities Effect of exchange rate changes equivalents. Net change in and Cash, cash equivalents and restricted cash at beginning of period Cash, cash equivalents and restricted cash at end of the period balance sheets. Cash and cash equivalents Restricted cash Total cash, cash equivalents and restricted cash $ $ Six Months Ended June 30, 2020 2021 (54,926) $ 7,967 7,349 8,933 (2,641) (5,382) (2,072) (22,519) 22 7,772 11,388 2,166 6,461 (35,482) (6,974) (6,974) 29 0 3,000 (3,000) 29 1 (42,426) 92,084 49,658 $ 49,658 49,658 $ (24,205) 7,735 5,945 1,553 7,684 9,790 1,533 764 (3,019) (12,319) (2,453) (4,975) (11,967) (10,777) (10,777) 141 87,999 88,140 (290) 65,106 67,578 132,684 54,596 54,596 19#20* + + * X Casper Thank You! August 2021 + X ●