#1May 2023 Investor Presentation Grove COLLABORATIVE#2Disclaimer Basis of Presentation This Presentation (this "Presentation") is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential investment in Grove Collaborative Holdings, Inc. ("Grove") (the "Potential Transaction") and for no other purpose. By accepting, reviewing or reading this Presentation, you will be deemed to have agreed to the obligations and restrictions set out below. Without the express prior written consent of Grove, this Presentation and any information contained within it may not be used for any purpose other than your evaluation of Grove. This Presentation supersedes and replaces all previous oral or written communications between the parties hereto relating to the subject matter hereof. This Presentation and any oral statements made in connection with this Presentation do not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation to purchase, any securities in any jurisdiction, nor shall there be any sale, issuance or transfer of any securities in any jurisdiction where, or to any person to whom, such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. This Presentation does not constitute either advice or a recommendation regarding any securities. Any offer to sell securities will be made only pursuant to a definitive Subscription Agreement and will be made in reliance on an exemption from registration under the Securities Act of 1933, as amended, for offers and sales of securities that do not involve a public offering. Grove reserves the right to withdraw or amend for any reason any offering and to reject any Subscription Agreement for any reason. The communication of this Presentation is restricted by law; it is not intended for distribution to, or use by any person in, any jurisdiction where such distribution or use would be contrary to local law or regulation. No representations or warranties, express or implied are given in, or in respect of, this Presentation. Industry and market data used in this Presentation have been obtained from third-party industry publications and sources as well as from research reports prepared for other purposes. Grove has not independently verified the data obtained from these sources and cannot assure you of the data's accuracy or completeness. This data is subject to change. Recipients of this Presentation are not to construe its contents, or any prior or subsequent communications from or with Grove or its respective affiliates or representatives as investment, legal or tax advice. In addition, this Presentation does not purport to be all-inclusive or to contain all of the information that may be required to make a full analysis of Grove or the Potential Transaction. Recipients of this Presentation should each make their own evaluation of Grove and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. To the fullest extent permitted by law, in no circumstances will Grove or any of its 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 Certain statements included in this Presentation are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, (1) statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity; (2) references with respect to the projected future financial performance of Grove and Grove's operating companies; (3) changes in the market for Grove's products, and expansion plans and opportunities; (4) anticipated customer retention; and (5) expectations around potential mergers and acquisitions and capital availability. These statements are based on various assumptions, whether or not identified in this Presentation, and on the current expectations of Grove's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Grove. These forward-looking statements are subject to a number of risks and uncertainties, including: changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the anticipated benefits of the Potential Transaction; risks relating to the uncertainty of the projected financial information with respect to Grove; Grove's ability to successfully expand its business; competition; the uncertain effects of the COVID-19 pandemic; risks relating to growing inflation and rising interest rates; and those factors discussed in documents of Grove filed, or to be filed, with the U.S. Securities and Exchange Commission (the "SEC"). If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Grove does not presently know or that Grove currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Grove's expectations, plans or forecasts of future events and views as of the date of this Presentation. Grove anticipates that subsequent events and developments will cause Grove's assessments to change. However, while Grove may elect to update these forward-looking statements at some point in the future, Grove specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Grove's assessments as of any date subsequent to the date of this Presentation. Accordingly, undue reliance should not be placed upon the forward-looking statements. Use of Data The data contained herein is derived from various internal and external sources. No representation is made as to the reasonableness of the assumptions made within or the racy or completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication as to future performance. Grove assumes no obligation to update the information in this Presentation. 28 00⁰#3Disclaimer (continued) Trademarks Grove owns or has rights to various trademarks, service marks and trade names that it uses in connection with the operation of its business. This Presentation may also contain trademarks, service marks, trade names and copyrights third parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this Presentation is not intended to, and does not imply, a relationship with Grove, or an endorsement or sponsorship by or of Grove. Solely for convenience, the trademarks, service marks, trade names and copyrights referred to in this Presentation may appear without the TM, SM, Ⓡ or symbols, but such references are not intended to indicate, in any way, that Grove will not assert, to the fullest extent under applicable law, its rights or the right of the applicable licensor to these trademarks, service marks, trade names and copyrights. Use of Projections This Presentation contains projected financial information with respect to Grove, namely revenue and gross margin, Grove brands revenue share, net revenue share by brand, gross profit, adjusted EBITDA, adjusted EBITDA margin, fulfillment cost, operating expenses, advertising spend. Such projected financial information constitutes forward-looking information, and is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. The projections, estimates and targets in this Presentation are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Grove's control. See "Forward-Looking Statements" above. While all projections, estimates and targets are necessarily speculative, Grove believes that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection, estimate or target extends from the date of preparation. The assumptions and estimates underlying the projected, expected or target results are inherently uncertain and are subject to a wide variety of significant business, economic, regulatory, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in such projections, estimates and targets. The inclusion of projections, estimates and targets in this Presentation should not be regarded as an indication that Grove, or its representatives, considered or consider the financial projections, estimates and targets to be a reliable prediction of future events. The independent registered public accounting firm of Grove has not audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this Presentation, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this Presentation. Financial Information; Non-GAAP Financial Measures The Grove financial information and data for the fiscal years ended December 31, 2019, 2020, 2021 and 2022 included herein are audited in accordance with Public Company Accounting Oversight Board (PCAOB) audit standards. Grove financial information for 2023 reflects unaudited financial information or management estimates. Some of the financial information and data contained in this Presentation, such as adjusted gross margin, adjusted selling, general, and administrative and product development expenses, and adjusted EBITDA, have not been prepared in accordance with United States generally accepted accounting principles ("GAAP"). These non-GAAP measures, and other measures that are calculated using such non-GAAP measures, are an addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to revenue, operating income, profit before tax, net income or any other performance measures derived in accordance with GAAP. A reconciliation of adjusted EBITDA to Net Income is provided at the end of this presentation. A reconciliation of the projected non-GAAP financial measures has not been provided and is unable to be provided without unreasonable effort because certain items excluded from these non-GAAP financial measures such as charges related to stock-based compensation expenses and related tax effects, including non-recurring income tax adjustments, cannot be reasonably calculated or predicted at this time. Grove believes these non-GAAP measures of financial results, including on a forward-looking basis, provide useful information to management and investors regarding certain financial and business trends relating to Grove's financial condition and results of operations. Grove's management uses these non-GAAP measures for trend analyses and for budgeting and planning purposes. Grove believes that the use of these non-GAAP financial measures provide an additional tool for investors to use in evaluating projected operating results and trends in and in comparing Grove's financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore Grove's non-GAAP measures may not be directly comparable to similarly titled measures of other companies. See the footnotes on the slides where these measures are discussed and the Appendix for definitions of these non-GAAP financial measures and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures. Important Information for Investors and Stockholders This Presentation is not a substitute for a registration statement or for any other document that Grove may file with the SEC in connection with any Potential Transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain free copies of other documents filed with the SEC by Grove through the website maintained by the SEC at http://www.sec.gov. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. 3 %#4Non-GAAP Financial Measures Some of the financial information and data contained in this presentation, such as adjusted EBITDA and adjusted EBITDA margin, have not been prepared in accordance with United States generally accepted accounting principles ("GAAP"). These non-GAAP measures, and other measures that are calculated using such non-GAAP measures, are an addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to revenue, operating income, profit before tax, net income or any other performance measures derived in accordance with GAAP. A reconciliation of historical adjusted EBITDA to Net Income is provided in the appendix. The reconciliation of projected adjusted EBITDA and adjusted EBITDA Margin to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity, and low visibility with respect to the charges excluded from these non-GAAP measures, such as the impact of depreciation and amortization of fixed assets, amortization of internal use software, the effects of net interest expense (income), other expense (income), and non-cash stock based compensation expense. Grove believes these non-GAAP measures of financial results, including on a forward-looking basis, provide useful information to management and investors regarding certain financial and business trends relating to Grove's financial condition and results of operations. Grove's management uses these non-GAAP measures for trend analyses and for budgeting and planning purposes. Grove believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating projected operating results and trends in and in comparing Grove's financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Management of Grove does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore Grove's non-GAAP measures may not be directly comparable to similarly titled measures of other companies. We calculate Adjusted EBITDA as net loss, adjusted to exclude: (1) stock-based compensation expense; (2) depreciation and amortization; (3) remeasurement of convertible preferred stock warrant liability; (4) changes in fair values of Additional Shares, Earn-Out Shares, Public and Private Placement Warrants and Structural derivative liabilities; (5) transaction costs allocated to derivative liabilities upon Business Combination; (6) interest expense; (7) interest income; (8) provision for income taxes, (9) restructuring expenses and (10) loss on extinguishment of debt. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue. 4 8#5GLASS FLOOR Grove Co. multi-purpose cleaner Grove Co multi-purpose cleaner MEHARAL Executive Summary: Leading brand, unique entry point MULTI SUSTAINABLY POWERFUL YOR A HEALTHY HOME & PLANT Grove Co. Hydrating Hand Soap FOR SOFTER HANDE LEMON & EUCALYPTUS 00% Natural Fragrance SUSTAINABLY POWERFUL YOR A HEALTHY HOME & PLANE Grove Co. Hydrating Hand Soap SOFTER KAND APPLE & PEAR BLOSSOM 00% Natural Fragrance LOZ (384 MLJ SINGLE REFL SUSTAINABLY POWERFUL FOR A HEALTHY HOME & PLAN Grove Co. Hydrating Hand Soap LAVENDER BLOSSOMETHI CO% Natural Fragranc OF OZ (384 ML)-SINGLE R SUSTAINABLY POWERFUL Grove Co. Hydrating Hand Soap ORANGE & ROSEMARY CO% Notural Fragrance GFL 02 (384 ML3- SINGLE REL Grove Co Room Spray Concentrate Sanctuary Grove Room Spr Concentros#6- № Consumer Products Have Historically Hurt Our Planet and Our Health. We Are Changing That. 2. Select 2021 & 2022 GREENHOUSE GAS EMISSIONS (TONNES) PER MILLION $ OF REVENUE (1) (2) 180 I... 34 29 Kimberly-Clark The Clorox Company P&G 28 → COLGATE-PALMOLIVE Grove Co. Net Zero emissions after offsets for Scope I + II Net Zero by 2030 (Scope I - III) Science-based targets for emissions reduction in Scope I-III in alignment with a 1.5ds (3) Carbon Neutral Certified Company as of 2021 (4) 13 Unilever 4 Grove Co. Notes: 1. Companies were selected as peers who are representative of their primary verticals. Data for GHG emissions and plastic packaging volume taken from company filings Reflects the sum of Scope I and Scope II 3. Includes supplier engagement 4. 5. Select 2021 & 2022 PLASTIC PACKAGING VOLUME (METRIC TONNES) PER MILLION $ OF REVENUE (¹) Requires Grove to keep all operational emissions carbon neutral in alignment with the Carbon Neutral protocol in order to keep this designation Nestle Plastic Data sourced from 2019 65 Coca-Cola 26 DANONE 18 (5) Nestle 16 COLGATE-PALMOLIVE 11 Unilever 5 Grove Co. 6 000#7Grove's vision is that consumer products will be a positive force for human and environmental health. We create and curate high performance, planet-first products to make that possible. & EUCALYPTU Grove Co Foaming Hand Soap Grove COLLABORATIVE Grove Co. 78 00⁰#8Plastic Waste Is the #1 Issue for Our Industry (1) More U.S. consumers care about plastic waste than about climate change. (2) Plastic packaging represents nearly half of all plastic waste. (3) 84% 4. 5. of American shoppers are concerned about plastics and packaging waste (4) 3. Supply Chain Dive, Packaging Makes Up Nearly Half Of Plastic Waste. March, 2019 Consumer Brands/Ipsos poll based on a sample of 1,530 people in July'21 Natural home care market survey commissioned by Grove (August 2021) 81% Sources: 1. Kara Lavender Law, Natalie Starr et al., The United States' Contribution of Plastic Waste to Land and Ocean. October, 2020; PEW Charitable Trust and SYSTEMIQ, Breaking the Plastic Wave: A Comprehensive Assessment of Pathways Towards Stopping Ocean Plastic Pollution. July, 2020 2. Shelton Grp, Waking the Sleeping Giant: What Middle America knows about plastic waste and how they're taking action. June, 2019 of plastic-free purchasers started purchasing in the last 2 years (5) 95% of natural home shoppers are likely to purchase plastic-free products in the future (5) 83% of natural home shoppers are willing to pay a premium to purchase plastic-free products (5) 8 %#9Note: 123 2. 3. REVENUE & ADJUSTED EBITDA FINANCIAL RESULTS & GUIDANCE (000's) $300 $150 $0 ($150) ■ 0 Reve Adjusted EBITDA (1) A History of Doing Well By Doing Good We Use Our Connection with Consumers to Build Authentic, Disruptive Brands Adjusted EBITDA Margin $32 2017 (79%) ($25) (2) Adj. EBITDA is a non-GAAP metric; please refer to Appendix for definitional breakdown Unaudited management estimates Midpoint of guidance $233 2019 (62%) Pandemic bump in 2020-2021 ($145) $384 2021 (28%) ($109) I $265 8.3x growth in 6 years ($17) Burn down 88% vs. peak. 2023 Adj. EBITDA +30% vs. original guidance (6.5%) (3) 98#10GROVE IS THE MARKET LEADER IN ZERO WASTE HOME CARE. Home + personal care is $1T globally, built on single use plastic. Zero waste leadership will create a multi-billion dollar brand. That is our opportunity. 1. 2. A Premier Long Term Brand. A Unique Entry Point. 8.3x growth since 2017 #1 market share, awareness, and assortment for zero waste HPC #1 DTC community Door growth up >100% y/y¹¹ 52% gross margins in Q1 2023 WELL POSITIONED + LOW AWARENESS → ATTRACTIVE ENTRY POINT Net cash position with $100M+ of cash, cash equivalents + available debt¹2) Clear near term path to profitability Potential Adj. EBITDA approximately break even in Q3, well ahead of schedule Record GM of 52.1% in Q1 2023, expected to continue to increase long term Extraordinary long term customer retention O CAC optimized down to near-pandemic levels O Operating efficiency + cost savings still rolling through P&L y/y Adjusted EBITDA margin improvement of 3,420 bps in Q1 2023 Multiple upside drivers + catalysts Continued rapid retail distribution growth Category expansion into wellness M+A O O As of March 31, 2023 Includes restricted cash of $9M. Refer to Balance Sheet + Available Capital slide later in presentation for additional details Hypothetical Valuation Comparison (in mm except ratios) Percent Change Shares Outstanding (1) Price / Share Market Cap Less: 3/31/22 Net Cash (3) Total Enterprise Value TEV / 2022 Sales TEV / 2023 Sales TEV / 2022 GP 0% 179 $0.46 $82 10 $72 0.22x 0.27x 0.47x 100% 179 $0.92 $165 10 $155 0.48x 0.58x 1.00x Industry Avg. Multiple (2) 935% 179 $4.30 $770 10 $760 2.36x 2.87x 4.91x Note: assumes 0% change at $0.46 / share (1) As of 3/31/2023 (2) HNST, UL, PG, CHD, KC, RB, CLX, CLG as of 2/28/23. TEV/2023 Sales = 2.8x (3) Year end gross cash of $90.5M, less debt of $79.5M 108#11SECTION 1 The Long Term Opportunity: A Billion Dollar Brand MULT Olive anch Frenki Grove Co. X Grove Co. X DREW BARRYMORE Ultimate Dish Soap CLEANS (000+ DISHES - LIMITED EDITION- Fresh Horizons island orchid 100% Natur Frogroce 18 FL 02 (473 MLS SINGLE REFILL#12GAWN- Consumer-Led Transition to Sustainable Products Is Inevitable... 3. THE TRANSITION IS GAINING MOMENTUM 87% 13% Global HPC Market Share Conventional vs. Natural (1) Conventional Natural 37% 63% When Did You First Purchase Natural Products? (2) Notes: 1. Calculated based off of 13% US clean and natural HPC market penetration from Honest S-1 2. Management estimates developed from a variety of third-party resources Ell, Kellie, Forecasting Consumer Demands. WWD (December 2020) 4. Alix Partners Naturally Beautiful - Millennials and Preferences in Beauty and Personal Care Products. (May 2019) 5. Cowen Equity Research, Gen Z and Millennials Are the Driving Force in Scaling Digital and Sustainability. (October 2020) More than 2 Years Ago Less than 2 Years Ago CONSUMER PREFERENCE IS CLEAR SUSTAINABILITY 73% Of shoppers believe it is important to shop sustainably (3) TRANSPARENCY 72% Of consumers place importance on purchasing beauty and personal care products that are clean (4) MISSION-DRIVEN 74% Of retail consumers aged 25-34 place importance on social impact (5) 128#13But Represents a tiny Fraction of the ~$700B of Market Value $800.0 $600.0 $400.0 $200.0 Source: Yahoo Finance data as of May 5, 2023 $0.0 MARKET CAP $ in billions < 1% of the Category $0.1 Grove COLLABORATIVE $21.1 The Clorox Company $23.9 CHURCH Co HIGHT INC $46.0 reckitt $66.9 COLGATE-PALMOLIVE $140.1 Unilever $368.3 P&G $666.4 CUMULATIVE MARKET CAP 13 8#14Notes: 1. Grove Is at the Intersection of Category Growth Trends TOTAL U.S. HPC SEGMENT GROWTH RATES (1) 1% Conventional 9% Clean / Natural 18% Household Care eCommerce Conventional growth rate represents CAGR from 2019-2025. Clean / Natural growth rate estimated based on a variety of third-party research and represents CAGR from 2019-2025. eCommerce growth represents US Household Care CAGR from 2020-2025, per Euromonitor International Ltd Beauty & Personal Care 2022ed, current prices 14 8#15Grove Has a Durable Competitive Advantage in Innovation DTC underpins the growth story by powering Grove innovation engine DTC INNOVATION RETAIL ... I III Superior access to customer data and preferences Insights lead to rapid innovation and more SKU development than competitors Better informed + faster innovation from DTC provides competitive, sustainable outgrowth in retail 15%#162021 WomensHealth BEAUTY AWARDS Grove Co. Wins on Efficacy, with Truly Clean Ingredients... Note: 1. Grove Dishwasher Detergent Packs Performance vs. Leading Competitors (1) Competitor Brand 1 Competitor Brand 2 Competitor Products Cheese, Baked Spaghetti w/ Sauce Starch, Colored SUSTAINABLE INNOVATION AWARDE C Product 1 USDA CERTIFIED BIOBASED PRODUCT PRODUCT 95% USDA ORGANIC EWVERIFIED., FALTH EN YOUR HEALT Product 2 ΤΗ + + : Product Outperformed by Grove detergent = : Product performed comparably with Grove detergent - : Product performed in a superior manner to Grove detergent Feel Good CLEANING STANDARD Product 3 BAVY REAL SIMPLE Product 4 2021 BYRDIE II + Better Homes &Gardens CLEAN CHOUSE AWARDS 2021 = SAFER CHOICE Meets U.S. EPA Safer Product Standards Treehugger CLEANING 2031 INNOVA Rizz ...While Pioneering Innovations in Sustainability PLASTIC S BOTTLE Most home care products with zero-plastic packaging + sustainable formats Unique supply chain to fill into zero waste formats at affordable cost CERTIFIED ORGANIC FAIR TRADE CERTIFIED Based on results from independent lab tests via ASTM D3556-85. Product performance was measured against "tough and greasy" food residue as determined by the independent lab US PLASTICS PACT OBPI CLIMATE COLLABORATIVE FAIR RUBBER INFOREST PEOPLE ALLIANC AGANIC 2015 093000 roupes asodind-լոա 100 Әʌ019 TEXTILE GOTS ARD 011 Certified FSC Public Benefit Corporation BEYOND PLASTIC AMERICAN SUSTAINABLE BUSINESS COUNCIL 168#17Grove Is the Leading Digitally Enabled Brand in HPC 3. 4. BRAND HIGHLIGHTS CLEAR WINNER IN NEXT-GEN HPC #1 Brand awareness among zero-plastic brands (1) Largest lifetime DTC customer base in the category CATEGORY LEADER IN SUSTAINABLE PACKAGING >25MM concretrate system units sold to date 70% of Net Revenue meeting Beyond Plastic ™M standard 40% of our products were reusable or refillable in 2022 Grove customers have prevented >5 million lbs of plastic waste (²) TIP OF SPEAR ON ESG + IMPACT BUSINESS MODEL Certified B-Corp since 2014 + Public Benefit Corp Carbon Neutral Certified; Plastic Neutral since 2020 Exceeded goal of planting 1 million trees in the U.S. in 2022 Scalable, ethical and sustainable supply chain practices for all partner facilities Notes: 1. Grove consumer awareness survey, 2H 2021 2. Includes nature and ocean-bound plastic waste from our environment through our plastic neutral partners As of March 31, 2023 Beyond Blastic refers to either zero-plastic, re-usable, or refillable and zero plastic waste products KEY STATS #1 Brand in plastic free home care in the US in market share, awareness, and assortment 32% 2018-2022A Revenue CAGR >1.2MM LTM Active DTC Purchasers(³) 5,000+ (3) Retail Doors (>2x growth y/y) >52% Q1 2023 Gross Margin 70% of Net Revenue meeting Beyond Plastic TM st (3) (4) 178#18Notes: 1. 2. 3. 4. 5. Penetration (1) 2.0%+ 1.6 -2.0% 1.4 - 1.6% <1.4% O Grove Is a Mass-Market Player with Broad Customer Appeal GROVE CUSTOMER PENETRATION BY STATE (3) Top 20 Target Locations (2) 00 Number of Grove acquired customers divided by population LTD sales data as of March 2023 Top cities with the most Target sales as of March 2023 Population data per U.S. Census Bureau as of 2019 for the zip code in which each store is located Top 10 DTC Zip Codes with the highest penetration 8 Top 10 Zip Codes by Sales for DTC (5) LOCATION POPULATION Whatcom County, WA Chattanooga, TN Larimer County, CO Boston, MA San Francisco, CA Birmingham, AL Elmore County, ID Chicago, IL Washington, D.C. Benton County, AK Top 10 Cities by Sales at Target POPULATION (4) LOCATION Glendale, CO Chicago, IL Northgate, WA 229,247 179,690 356,899 684,379 874,961 197,575 27,511 2,693,976 712,816 293,692 San Francisco, CA Edina, MN Charlotte, NC South Portland, ME Fort Collins, CO Watertown, MA Richfield, MN 5,177 2,693,976 4,283 881,549 52,857 885,708 26,993 174,081 35,939 36,354 (3) 188#19Section 2 Path to Profitability 000 8 Grove Co. Wool Dryer Balls#20Note: 1. 100% 50% 0% Long Term Customer Loyalty Creates Revenue Base NET REVENUE RETENTION BY COHORT(1) 0 3 6 9 12 15 18 21 24 27 (Quarterly, 2015-2022) 30 33 36 39 42 45 48 Months since sign up Y-axis represents average of all quarterly cohort revenues as % of the cohort first order revenue, excludes VIP and shipping; Through FY 2022 cohorts using December 2022 data 51 54 57 Asymptotic retention of 60 -40% 63 66 69 72 20 8#21Grove's Strong Brand Drives Organic Traffic and Success Across Media Types Grove Co. essential cleaners set grove.com % OF TRAFFIC FROM ORGANIC SOURCES IN Q1 2023(1) 77% Non-Paid ☐ Paid 23% Note: 1. Organic sources defined as non-paid sources vs. paid brand and performance marketing sources; traffic measured by number of sessions; data is for Q1 '23 218#22Note: Long Term Trends Are Driving Gross Margin To Record Highs 100% 75% 50% 25% 0% 81% 19% 2017A (1) OVERALL NET REVENUE SHARE BY BRAND 63% 37% 2019A Third-Party Brands 52% 48% 2022A Grove Brands 51% 49% Q1 2023A 1. Unaudited management estimates 2. Gross Margin Impact of Non-cash inventory reserve as disclosed in the Consolidated Statement of Cash Flows in our 10-K and 10-Q Filings 60.0% 40.0% 20.0% 0.0% 28.1% Adjusted GROSS MARGIN % 28.1% 2017A (1) 35.9% -0.1% 35.8% 2019A (2) Inventory reserve impact 50.3% 2.2% 48.1% 2022A Record in Q1 '23 52.2% 0.1% 52.1% Q1 2023A GAAP Gross Margin 228#23Cost Structure to Scale with Revenue, Despite Public Company Expenses REDUCE FIXED EXPENSES Consolidating software purchases across functions to drive cost savings ➤ Re-sourcing creative production to maintain speed with lower costs Eliminated unprofitable contracts Eliminated rent where no longer leveraging office space PERSONNEL EXPENSE EFFICIENCY >30% net reduction of corporate employees in 2022 & significantly reduced hiring Increased utilization of near-shore resources. where possible Empowering team to "think like an owner" on expense decisions Note: Source: Company Financials (1) (2) Adjusted SG&A $26 $24 $22 $20 $18 $16 ADJUSTED SG&A + PRODUCT DEVELOPMENT 2021-2023 (1)(2) $24 $23 $25 $25 $23 $20 $20 2Q-2021 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 Ongoing efficiency efforts, with a focus on preserving R+D and building for the future Excludes Fulfillment, Stock Based Compensation, Depreciation & Amortization, one-time Asset Impairment & Restructuring Expenses Product development expenses relate to costs related to the ongoing support and maintenance of the Company's proprietary technology, including the Company's website and mobile device application, as well as amortization of capitalized internally developed software, and relate to the product packaging innovation in the Company's Grove Brands products. $19 1Q-2023 23 8#24$100 $75 $50 $25 0% -20% -40% -60% -80% $M Customer Base Will Stabilize in 2023 as We Lap Reduced Advertising Spend Starting in 2H 2022 $90 $78 LLLLL $18 $9 Q3 - 22 Q1 - 22 -11% $33 Q1 - 22 $79 Q2 - 22 -21% -20% Q2 - 22 Net Revenue YOY Change in Revenue Advertising -1.8%- -73% Q3 - 22 $74 $7 Q4 - 22 -2-2-% -59% Q4 - 22 YOY Change in Advertising $72 $9 Q1 - 23 -1.8% -74% Q1 - 23 Media Diversification + Optimization → Lower Spend + Lower CAC Full funnel channel allocation driving CAC efficiencies into 2023 ➤ Marketing stack upgrade in 2022 improving personalization and testing capabilities ➤ Partnership with Drew Barrymore, Global Brand and Sustainability Advocate Retail expansion lifting overall awareness 24 8#25SECTION 3 Catalysts for Growth Pick your bottle 2 Choose your product 3 Clean sustainably clean 11@1 Household Cleaners Cats Is core grear Household Cleaners Hand Soap Splave bod Y Dish Soop Dishwasher Detergent TM Grove Co™. SUSTAINABLY POWERFUL FOR A HEALTHY HOME & PLANET Uncompromised performance. No harsh chemicals 100% natural fragrances Moves Beyond Plastic" Grove Co Deining Grove Col Grove Co Grove Co Grove Co Co Co Marine Grove Co Grove Co. TOTAL CLEAN Co. C Grove Co Jorget Parks Grove O Grove Co e Cove Co Grove Co Grove Co. TOTAL CLEAN only at Pad G Grie new at O Co Grove Co Grove Co Grove Co Grove Co. TOTAL CLEAN Co y ky 8 ooo#26The Retail Opportunity is Still Early Days 2. Bringing Grove Co. to Retail Distribution is a Game Changing Opportunity 2023-2030 FOCUS -$1 Trillion (1) Global HPC Retail Industry 2021-2025 FOCUS $180Bn (1) U.S. HPC Retail Industry CURRENT SALES CHANNEL U.S. Vertical HPC eCommerce Sales: <$20.0Bn (2) Sources: 1. Per Euromonitor International Ltd, Beauty & Personal Care 2022ed, Home Care 2022ed, Pet Care 2022ed, Consumer Health 2022ed, and Tissue & Hygiene 2022ed; aggregation beauty, personal care, home care, pet care (excluding food), baby care (diapers and wipes), and vitamins and dietary supplements Management estimates developed from a variety of third-party resources 26 º#27● ● Select Retail Partners O TARGET giant eagle Notes: 1. 2. Hannaford H-E-B Our Retail Footprint is Large + Growing Rapid Growth in Points of Distribution Ⓡ Harris Teeter Neighborhood Food & Pharmacy Walmart meijer 5,000+ Retail Doors(1) (>2x growth y/y) Grove Co. Is a Highly Attractive Brand for Retail Partners: Attracts coveted and eco-conscious customers to store Drives increased basket size / spend per trip and profit dollars Promotes use of retail partners' online presence, helping create a vibrant omnichannel ecosystem As of March 31, 2023 Includes Seasonal SKUs, Amazon bundles and forecasted SKU launches 180 Unique SKUs with Retail partners in 2023(²) Just Kicking Off Amazon Grove Co. Grove's Flagship Sustainable Home Supplies Brand peach "not plastic... Grove's Leading Sustainable Personal Care Brand + amazon Grove Co Launched Q1 2023 278#28Grove is Well Positioned and Has a Right to Win in the Wellness Category The global wellness market is more than $1.5 trillion and growing 5% to 10% per year Sources: (2) 1. Grove Internal Customer Survey Data 2. McKinsey, How to thrive in the global wellness market (January 2022) 92% of respondents report being informed or curious about purchasing health & wellness products (1) 92% 89% of respondents would buy Health & Wellness products from Grove 89% (1) I I 78% have made a purchase in the health & wellness category in the (1) last 6 months 78% 89% of respondents would trust I Grove over other retailers to solve their Health & Wellness needs(¹) 89% ima Ga Grove Wellness Hilma IT'S HERE! B. Awak Biz Awake Strict ingredient standards VILE Your ticket to a personalized wellness plan vetted by our in-house dietician, fueled by high-quality ingredients. Start with our 3-min quiz and look out for more wellness in your inbox! Get Your Wellness Plan ✔ Price matching & Happiness Guarantee Stine Feel Good WELLNESS STANDARD Crave ✔ Plastic and See Our Standards carbon neutral ✓ Vetted by our in-house dietician 28 8#29M&A Provides Step-Change Upside Opportunity SYNERGY LEVERS grove.com platform sales of acquired brand Grove DTC fulfillment capability / target rationalization Grove in-house marketing capabilities (replace agencies) Opex consolidation Combine retail sales effort (rev synergies) Targeting EBITDA synergy of ~30% of purchase price Evaluating transformative and strategic add-on opportunities Focus is on core business + bar for action is extremely high. A A FY2023 ($M) 265 -17 Grove COLLABORATIVE 2023E 200 1+1 = 3 Analysis (Transformative Deal) FY23 Standalone Outlooks vs. Pro Forma -25 ACCESS TO CAPITAL + HUMANCO PARTNERSHIP Grove announced in Q4 2022 a partnership with Human Co, the mission-driven health and wellness company. We are partnering with the intention of finding scale, synergistic M&A opportunities which HumanCo would have an opportunity to fund with up to $100 million of new capital. Representative target 2023E Grove COLLABORATIVE 450-500 10-40 Representative target + Grove Pro Forma (Range represents 75-100% of synergy capture) HumanCo Revenue Adj. EBITDA 29 8#30ScJohnson → SELECT NATURAL HPC M&A The Clorox Company ACQ. COLGATE-PALMOLIVE P&G Large Players Have a History of Buying Leading Natural / Sustainable Brands. U Unilever ACQ. method MEYER'S CLEAN DAY ACQ. ACQ. ACQ. Mrs. BURT'S BEESⓇ TRUE TO NATURE™ INCE 197 Tom's hello OF NATIVE seventh generation. OLLY. THERE IS ONE INDEPENDENT, PURE PLAY, $100MM+ REVENUE HOME CARE BRAND FOCUSED ON HEALTH + SUSTAINABILITY GroveⓇ COLLABORATIVE 30 8#31SECTION 4 Financials This home 's the planet. 8 AWAWAWA NEUTRALS 000#32Balance Sheet + Available Capital Note 1. Restricted cash was $8.8M as of March 31, 2023 ABL Borrowing capacity is subject to $15M cap on inventory for the first six months of the facility. Structural Debt Facility is subject to a $57M unrestricted cash covenant As of May 11, 2023, based on closing price of $0.51 AWN 3/31/23 Cash + Available Liquidity 3/31/23 Cash (incl. $9M restricted cash)(¹) Subsequent Event - ABL estimated future availability Total Liquidity $91 $10 $101 Liquidity calculation does not reflect projected working capital improvements (which may reduce ABL capacity) In July 2022, we entered into a Standby Equity Purchase Agreement, which would allow us to raise approximately $16.1M (4) 32 8#33% OF NET REVENUE 50% 25% 0% -25% -50% Driving Towards Profitability -75% Gross Margin 2018 2019 Advertising 2021 Source: Company Financials (1) Excludes Fulfillment, Stock Based Compensation, Depreciation & Amortization, one-time Asset Impairment & Restructuring Expenses III Adj. SG&A & Product Development (¹) 1H 2022 2H 2022 Adjusted EBITDA Q1 2023 33 8#34NET REVENUE (2018-2023) $300 $200 $100 $0 YOY GROWTH: $32 2017A $105 2018A 228% $233 Note: Projection periods represent midpoint of guidance 2019A 122% $364 2020A 56% $384 2021A 5% $322 2022A -16% $265 2023E -18% ~8x growth from 2017 - 2022, even after giving back a "pandemic bump" in 2020 + 2021. ADJUSTED EBITDA (2018-2023) $0 -$50 -$100 -$150 % Margin -$78 -$145 -$54 -$109 TV -$25 2017 (79%) 2018A (75%) 2019A (62%) 2020A (15%) 2021A (28%) -$80 2022A (25%) We are driving to profitability in 2024 -$17 ~90% since 2021 2023E (6.5%) Burn projected to decrease by 34 8#35DTC NET REVENUE PER ORDER (2018-2023) $60 $40 $20 $0 YOY GROWTH: $37 2018A 16% $42 2019A 12% $53 2020A 27% $56 2021A 7% $59 $55 5% $62 2022A Q1 2022A Q1 2023A 12% We continue to increase our wallet share with customers Notes: 1. Gross margin excludes the impact of Non-cash inventory reserve as disclosed in the Consolidated Statement of Cash Flows in our 10-K Filings ADJUSTED GROSS MARGIN (2018-2023) 60.0% 40.0% 20.0% 0.0% 34.7% 2018A 660bps 35.9% 2019A 48.8% 2020A 50.4% 2021A 50.3% 48.2% 120bps 1,290bps 160bps (10bps) Record high in Q1 2023 2022A Q1 2022A Q1 2023A While being margin accretive 52.2% 410bps 35 %#36Sustained Long-Term Growth and Profitability Metric (1) Revenue Growth Gross Margin SG&A: Fulfillment Cost Other SG&A + Product Development (2) Advertising Spend Adj. EBITDA Margin Notes: 1. All metrics excluding revenue growth are calculated as a percentage of net revenue 2. Excludes depreciation, amortization and stock based compensation expense Long-term target 10-30% 55-60% 10-15% 10-15% 10-15% 10-30% 36 8#37Analysis at Various Prices Shows Gap vs. Industry Benchmark (in millions except ratios) Industry Benchmark (2) Percent Change Shares Outstanding (1) Price / Share Market Cap Less: 3/31/22 Net Cash (3) Total Enterprise Value TEV / 2022 Sales TEV / 2023 Sales 0% 179 $0.46 $82 10 $72 0.22x 0.27x 50% 179 $0.69 $124 100% 179 179 $0.92 $1.38 $165 $247 200% 300% 500% 179 I $1.84 $2.76 179 $329 $494 10 10 $114 $155 10 $237 0.35x 0.48x 0.74x 0.43x 0.58x 0.89x Note: assumes 0% change at $0.46 / share (1) As of 3/31/2023 (2) HNST, UL, PG, CHD, KC, RB, CLX, CLG as of 2/28/23. TEV/2023 Sales = 2.8x (3) Year end gross cash of $90.5M, less debt of $79.5M 10 $319 i 0.99x 1.21x 10 $484 1,000% 1,500% 179 $7.36 $1,317 179 $5.06 $906 10 $896 1.50x 2.78x 1.83x 3.38x 10! $1,307 4.06x 4.93x 378#38APPENDIX deo. fresh take Fresh face, Rooted HYDRATING Rated 404 THA Oat Mill good fur ULTRA soothing condition Detangles coat and s sensitive, itchy ska Tulip / Honey Vanilla 100% NATURAL FRAGRAN "In ULTRA soothing shampoo Supplemental Materials god Gently cleans and soothes sensitive, itchy skin Tulip NE ORGANC JOJOBA DATNIM Honey Vanilla 100% NATURAL FRAGRANCE NO PARABENS OR SULFATES 16 FLOZ (473 ml) Grove Co. Power Clean LAUNDRY DETERGENT SHEETS DOS Notural MORE POWERFUL STAIN REMOVAL Lovendor Once 32 LOADS 5.41 02 (15 12 CM x 17 CM EACH & Thyme Mos69#39Note: 1. $MM (1) Net Loss Stock-Based Compensation Depreciation and Amortization Remeasurement of Convertible Preferred Stock Warrant Liability Change in Fair Value of Additional Shares liability Change in Fair Value of Earn-Out Liability Change in Fair Value of Public and Private Placement Warrants Liability Change in Fair Value of Structural Derivative Liability Adjusted EBITDA Reconciliation Transaction Costs Allocated to Derivative Liabilities upon Business Combination Interest Income Interest Expense Restructuring Expenses Loss on Extinguishment of Debt Provision for Income Taxes Adjusted EBITDA Totals in table may not sum due to rounding 2019A ($161) $12 $2 | | | | $2 $0 ($145) 2020A ($72) $8 $4 $1 $6 $0 ($54) 2021A ($136) $15 $5 $1 TI $5 $1 $0 ($109) 2022A ($88) $46 $6 ($2) $1 ($66) ($6) 1 $7 ($1) $10 $9 $5 $0 ($80) Q1-2022A ($47) F ♬ ☎ | | | | || ¦¦ || ($2) ($40) Q1-2023A ($13) $5 $1 | | | ($1) $1 ($4) ($0) | | | ($7) 39 8#402012 : Company founded as ePantry, based on : selling natural 3P products 2014 B Corp Certification achieved : 2015 Launched our first Grove Brand product • 2016 Changed name to Grove + focus : on brand building Company Timeline : 2017-2020 : Scaled 3 : FCs 2018 $100MM+ in sales 2020 100% Plastic neutral, Carbon • neutral for : Scope I + II 1H 2021: Launched Beyond: 2021 June 2022 : Grove Public Listing on NYSE Plastic collection at: Achieves Target in 100% of U.S.: CarbonNeutral® certified company doors Mar 2023 Grove Wellness Launch 40 %#41Grove Co. Tree-Free Toilet Paper Soft. Strong. Sustainable A bronch above WALE Grove Co. Tree-Free Toilet Paper Soft. Strong Sustainable A branch above ULTRA MEGA WOLLE 40 ULTRA MEGA & POLISPO 40 Grove is creating the change in CPG that the world needs.