#1smile CLUB smile DIRECT CLUB Q4 2021 1#2Forward-Looking Statements This presentation contains forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. Forward-looking statements generally relate to future events and include, without limitation, projections, forecasts and estimates about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans, and objectives. Some of these statements may include words such as "expects," "anticipates," "believes," "estimates," "targets," "plans," "potential," "intends," "projects," and "indicates." Although they reflect our current, good faith expectations, these forward-looking statements are not a guarantee of future performance, and involve a number of risks, uncertainties, estimates, and assumptions, which are difficult to predict. Some of the factors that may cause actual outcomes and results to differ materially from those expressed in, or implied by, the forward-looking statements include, but are not necessarily limited to: the duration and magnitude of the COVID-19 pandemic and related containment measures; our ability to manage our growth; the execution of our business strategies, implementation of new initiatives, and improved efficiency; our sales and marketing efforts; our manufacturing capacity, performance, and cost; our ability to obtain future regulatory approvals; our financial estimates and needs for additional financing; consumer acceptance of and competition for our clear aligners; our relationships with retail partners and insurance carriers; our R&D, commercialization, and other activities and expenditures; the methodologies, models, assumptions, and estimates we use to prepare our financial statements, make business decisions, and manage risks; laws and regulations governing remote healthcare and the practice of dentistry; our relationships with vendors; the security of our operating systems and infrastructure; our risk management framework; our cash and capital needs; our intellectual property position; our exposure to claims and legal proceedings; and other factors described in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K for the year ended December 31, 2021. New risks and uncertainties arise over time, and it is not possible for us to predict all such factors or how they may affect us. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We are under no duty to update any of these forward-looking statements after the date of this presentation to conform these statements to actual results or revised expectations. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this presentation. Market and Industry Data This presentation also contains estimates and other statistical data obtained from independent parties and by us relating to market size and growth and other data about our industry and ultimate consumers. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates and data. In addition, projections, assumptions, and estimates of our future performance and the future performance of the geographic and other markets in which we operate are necessarily subject to a high degree of uncertainty and risk. Non-GAAP Financial Measures This presentation contains certain non-GAAP financial measures, including adjusted EBITDA ("Adjusted EBITDA") and Free Cash Flow. We utilize certain non-GAAP measures, including Adjusted EBITDA, and Free Cash Flow to evaluate our actual operating performance and for planning and forecasting of future periods. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We provide a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures in the appendix to this presentation and in our Current Report on Form 8-K announcing our quarterly earnings results, which can be found on the SEC's website at www.sec.gov and our website at investors.smiledirectclub.com. This presentation is a supplement to, and should be read in conjunction with, SmileDirectClub's earnings release for the quarter ended December 31, 2021. smile CLUB 2#3A Brand Customers Love & A Business Positioned for Growth. smile DIRECT CLUB Open for a lifetime supply of confidence. smile#4smile CLUB WHATWE STAND FOR Our mission is to democratize access to a smile each and every person loves by making it affordable and convenient for everyone. HOW WE DO IT By providing our club members 24/7 access to their doctor through our proprietary telehealth platform and guaranteeing our members' results for life! 4#5Brand and business model are well positioned to take advantage of large market with unique set of strategic assets. 1 2 3 4 5 smile CLUB Large and growing market Trusted brand among customers & professionals Leading orthodontic DTC franchise Differentiated value proposition via teledentistry platform Vertically integrated model ■ ■ ■ Global orthodontics market is large and underserved, and TAM is expanding as aligners are more accessible Secular shift from wires and brackets to clear aligners COVID-19 has accelerated facetime: we've never been more aware of our own smiles Brand that consumers love (more than 1.5M smiles straightened) #2 largest aligner brand and #1 largest DTC orthodontics brand in the world Premier teledentistry platform offering consumers accessibility & convenience Largest DTC franchise in the world provides attractive unit economics and substantial growth despite temporary macroeconomic factors Strong omnichannel presence maximizes consumer addressability Closed loop system offers optimal conversion from sophisticated CRM strategy and opportunities to enhance clinical outcomes from robust data library Complementary to DTC offering, meeting patients where and when they are: in-chair or at home Professional channel strategy enhances options for consumers to seek treatment, broadening addressability Addresses key consumer demands offering convenience, access and lower cost of care Substantial investment in treatment planning, manufacturing, contact center and teledentistry platform >$300M of capex, including streamlined state-of-the-art manufacturing facility in Tennessee Vertically integrated model allows business to gain profitable leverage on scale and effectively focus on the end-to-end customer experience LO 5#61 Large and growing market Evolving backdrop catalyzing sustained long-term invisible aligner demand. We've never been more aware of our own smiles Align and SDC are the top leading independents in the clear aligners category today GAAP revenue ($M) $2,407 smile CLUB $750 2019 72% / 76% $2,472 $657 2020 ALGN SDC GAAP gross profit margin (%) 71% / 69% $3,953 $63 2021 Aesthetic demand has never been more pronounced ALIGNER THERAPY INCREDIBLY WELL POSITIONED 74% / 72% CCO Ⓒ >50% of US adults dissatisfied with their smile ~85% of global population with malocclusion HOWEVER... Consumers demanding accessibility & convenience in all aspects of consumption airbnb chewy prime Uber SDC key competitive advantages Market opportunity is too large for only one winner TIM CARVANA headspace TELADOC. *wayfair Ọ 500M Total addressable aligner therapy patients >$500B Global total addressable market Access: Teledentistry platform combined with professional program enhances access for all members Convenience: Virtual care eliminates need for multiple regular visits to dentist offices Cost: 60% lower costs than Invisalign Breadth: Complete oral care brand, with everything to straighten, whiten, clean and keep your mouth healthy#71 Large and growing market Increasing consumerism mandating providers to offer alternative delivery options. ● ● ● ● Healthcare increasingly a consumer-driven industry Prospective patients = consumers who want multiple options for how they engage with service providers - Omni-channel maximizes consumer addressability Consumers seek care options via both trusted clinician recommendations as well as strong consumer branded options for self-directed care Virtual, in person, mobile, etc. - all critical to maximize consumer addressability In-office care solutions are an important complement to the DTC solutions Potential to segment into higher income and teen consumers Market is responding to these learnings - Professional channel solutions providers increasing focus on consumer-directed solutions - SDC developing professional channel and hybrid strategies smile CLUB Market participants are increasingly bolstering offerings to address these dynamics smile OFRECT CLUB OC straumann Dentsply Sirona P&G AspenDental Direct-to-Consumer Direct-to-Office Acquisition of Smilink and Dr.Smile Investor in Grin, a New-York based dental tech company Smile Brands DECA Inc. Launched own clear aligner brand in Jun-21 DENHOL BHDUP Acquisition of Byte Technologies byte and Propel Orthodontics SMILINK DR SMILE PROPEL CHITHIBHINTIS • GRIN motto Eckly Asperem 7#82 Trusted brand among customers & professionals We've brought >1.5MM smiles to customers worldwide through our professional network of >250 licensed Orthos & GPs. ting 1.5M+ smiles straightened smile CLUB 332K initial aligner orders shipped ¹ 14M+ annual aligners trays produced² 250+ affiliated state- licensed orthodontists and dentists 1) Shipped in 2021. 2) Produced in 2021. 8#92 Trusted brand among customers & professionals When customers are considering who to trust, they reference three important channels. 00 Tim Online Friends & Family CLUB Q Consumers considering straightening their teeth typically do one or all of the following: 1. Search online to understand their options 2. Ask a friend or family member which option they should choose 3. Ask a dentist Dentist Based on our research, our product and customer experience is competitive with Invisalign and 60% less expensive.¹ Our focus continues to be on improving perception across these three channels to continue to gain market share. smile ¹Source: Third-party market research firm research on file at SmileDirectClub; Based on over 1,200 respondents. Changing perceptions, habits and beliefs is critical to the next phase of our growth as we work to expand our reach and overall share of the market. The following pages provide supplemental information to outline the progress we have made across these three channels. 9#102 Trusted brand among customers & professionals We have built a brand that our members love. We have made considerable progress on brand perception, and our member satisfaction scores consistently track higher than Telehealth peers. smile CLUB Avg Rating (¹) 4.8/5.0 with over 90K member reviews. Approx. 20% of members come from referrals. BBB rating of A+ Total # of Reviews 100,000 90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 Total Google/ Trustpilot Reviews Source: Internal company surveys, public information. Data as of December 2021. ¹Average of Google and Trustpilot Review Ratings. 92,380 SDC 6,0 17 Teledentistry players I've always struggled with my self image and mostly with my teeth. Yes, I've tried in past with braces. They're super expensive and it's such a long process to go through especially when you're already an adult. I just recently got my Smile DirectClub journey started and it's going great! I've never felt so great in my life. - Christina C., Holmen, WI 17,522 DSO 10#112 Trusted brand among customers & professionals Our unparalleled customer experience stands out amongst our teledentistry peers and is on par with Invisalign. Findings from a survey commissioned by SmileDirectClub by a third-party market research firm with significant expertise in oral care ¹: ● ● ● Overall, Smile DirectClub and Invisalign patients are claiming an identical experience between SDC and Invisalign, yet we charge 60% less in price and are more convenient. Our NPS score was 55 and Invisalign's was 54 compared to an average of 22.5 for other teledentistry players. Compared with SDC customers, fewer customers of other teledentistry platforms would recommend the brand and fewer reported being satisfied with customer support. Third-party NPS scores² 54 55 22.5 CLUB Invisalign Smile DirectClub Teledentistry players Customers likely to recommend 63% 63% 46.5% Customer satisfaction with support received Invisalign Smile DirectClub Teledentistry players smile ¹Source: Third-party market research firm research on file at Smile DirectClub; Based on over 1,200 respondents. 2 Third-party NPS scores were independently sourced and calculated surveying 831 customers who completed clear aligner therapy with SDC, Invisalign, or teledentistry competitors in the last 12 months.. DIRECT 85.7% 84.7% 77.45% Invisalign Smile DirectClub Teledentistry players 11#122 Trusted brand among customers & professionals 75% of customers consult with a dental professional when considering their options for teeth straightening... Of those who consulted with a dental professional, 69% indicated positive experience with Smile DirectClub SmileDirectClub (Previous treatment) Please describe whether you consulted with a dental professional and whether they were positive, negative or neutral on the treatment option¹ 64% smile 61% CLUB 69% 69% 22% Q12021 28% Dental professional Dental professional was positive was neutral 25% Q2 2021 23% Q3 2021 14% 11% 6% 7% Dental professional was negative Q4 2021 Source: U.S. brand tracker (general population): Q4 2021. 1) 446 responses. 2) 568 responses. Invisalign (Previous treatment) Was the dental professional positive, negative or neutral on the treatment options? ² 65% 73% 71% 73% Dental professional was positive 30% 19% Q12021 Q2 2021 21% 22% Dental professional was neutral Q3 2021 5% 8% 8% 6% Dental professional was negative Q4 2021 12#132 Trusted brand among customers & professionals ...and we continue to make progress in building credibility with the dental community. We have a huge growth opportunity with GPs and the Partner Network. Doctors have high awareness of Smile DirectClub, are open to our offering, and are compelled by our value proposition. 200K General Practices (GPs) in North America looking to grow their patient base and revenue smile 2% Total GP revenue that is orthodontics ava №₂ AMERICAN ACADEMY CLEAR ALIGNERS CLUB 85% - 90% People worldwide eligible for treatment a missed opportunity for GPS Our industry memberships, affiliations and partnerships are growing, most recently with the American Academy of Clear Aligners (AACA), which has turned from actively campaigning against SDC to asking us to become a member as demonstrated by their recent retraction in the AACA Journal Fall 2021 Issue.² NATIONAL DENTAL ASSOCIATION 61% Doctors who have some degree of interest in being part of our Partner Network and offering Smile DirectClub to patients¹ حال deathmenkopan AT DA American TeleDentistry Association 85% SDC's awareness with GPs is second only to Invisalign (95%)¹ Lata MEMBER Grow revenue The reason GPs are most interested in joining the Partner Network ¹ WOMEN ADSO IN DSO ¹Source: Brand tracking survey with Aegis trade media publishers 2 Academy of Clear Aligners Fall 2021 Issue: AACA Digs Deeper. Published November 1. (Pages 10, 12.) Go to: https://bit.ly/3CITzsd for a copy of the report Association of Dental Support Organizations 13#143 Leading orthodontic DTC franchise Customers continue to choose SDC - now with even more options. Credibility 1.5M members treated, with a brand at scale that members love ● @ Orthodontists have traditionally purchased invisible aligners from a wholesaler or manufacturer, marked up the cost by 3x, and then sold them to consumers for $5,000-$8,000. SDC proprietary telehealth platform offers consumers the ability to get the same clinically safe and effective treatment, but without the 3x markup. Ś Treatment plan is tailored using proprietary telehealth platform All doctors have 5+ years of aligner experience 100% of aligners are made in FDA registered and ISO certified 3D printing facility in Tennessee smile CLUB Certainty Customers enjoy a new smile in as little as 4-6 months Efficacy of teleorthodontic treatment with clear aligners validated by clinical research Customers can start seeing results in as little as 60 days, and they can be certain in their outcome All smiles come with a lifetime smile guarantee Better oral hygiene - customers can brush and floss without brackets in the way • Deliver all aligners and retainers directly to the customer, upfront Laser-cut aligners look and feel better than ever ● ● Comfort ● ComfortSense is a unique soft, medium, firm plastic, which provides for more gradual movements and a more comfortable fit Smooth edges and a custom-shaped aligner means less overlap and irritation of the gumline Matte finish gives aligners a natural look No buttons, attachments, or IPR Two ways to wear aligners: 22 hours a day, or 10 continuous hours only at night ● In-office visits optional with three ways to get started . 00 ● Convenience Club members use the telehealth platform for face- to-face remote check-ins with their doctor Members can start treatment from Smile Shops, at partner dental locations, or at home using an impression kit All aligners arrive up front customers never wait on their next set Experienced dental team is available 24/7 via text, video chat, email or phone Customers use the app to track and manage their entire treatment SDC aligners cost as little as $3 / day • ● ● ● Cost ● Two ways for customers to pay: one single payment or monthly over 24 months 100% approval on financing, no credit check, no paperwork In network with most major health insurers Customers can use HSA, FSA, and Care Credit funds All aligner touch-ups are included Whitening is included 14#154 Differentiated value proposition via teledentistry platform Utilizing clinically distinguished teledentistry to offer clear aligners affordably and conveniently. Traditional orthodontic model Cost $5,000 $8,000 Convenience 10 15 orthodontist visits 12 - 24 months — Access Limited access to treatment (Only approximately 40% of U.S. counties have orthodontists) Financing Barred by poor credit smile CLUB S MONTH -$ smile DIRECT $1,950 Doctor-directed remote teledentistry In-office visit optional 5- 10 months Kits, SmileShops, dentist office Access across U.S., Canada, U.K., France, Australia and Ireland Captive financing for accessible credit 100% approval rating 15#16Differentiated value proposition via teledentistry platform Smile journey is managed with a proprietary, and clinically distinguished, teledentistry platform, SmileCheck. 3D image 3D image or impression kit Optimizing key drivers. Process engineering across the member journey allows SDC to control key KPIs, such as show rates for Smile Shop appointments and acceptance or return rates for impression kits. smile CLUB Treatment setup & purchase Manufacturing Treatment plan setup, doctor review, & purchase Why manage the entire process? Urgency matters. Within 24-48 hours of the 3D image capture, dental technicians and doctors work together to create and approve a treatment plan in SmileCheck, while a 3D preview of the new smile is sent to the member. The speed of treatment plan design aids in the purchase decision. Aligner manufacturing & fulfillment Saving time and money. SDC is vertically integrated, and their 3D printing and automated aligner production allows them to pass these manufacturing savings on to their members. Vertical integration also enables SDC to efficiently scale to meet growth demands. Treatment & maintenance Teledentistry platform for doctor monitoring & communication Ensuring excellent results. SDC's teledentistry platform allows the treating doctor to follow the journey from the beginning all the way through retainer purchase. Members register their aligners for reminders, communicate with dental professionals, and send mandatory progress photos that are reviewed by their doctor. 16#175 Vertically integrated model Substantial strategic value in vertically integrated business model. ● $42 smile 2018 CLUB Historical Capex Over Time ($M) $106 Antioch & Columbia, TN $97 ||| 20 19 Facilities Overview 210K sq. ft combined 2020 $107 ● 2021 Alajuela, Costa Rica Commentary Vertically integrated business model allows the company to gain profitable leverage on scale and provide customers the best experience possible Nashville, TN state-of-the-art facility represents America's largest 3D printing and clear aligner production facility >$300M capex over last 3 years resulted in streamlined manufacturing, positive trends and better customer experience Faster turnaround times Greater productivity and reduced labor Reduction in scrap Higher quality aligner trays Investment in proprietary treatment planning software and virtual tools drive greater automation, improved outcomes and better customer experience 2nd gen machines producing 90% of aligners Full redundancy back up facility in Columbia, TN 45K sq. ft. Produced 14 M + individual aligner trays in 2021, averaging over 40K per day smile 17#18Q4 Financial Results. smile DIRECT CLUB#19● ● Q4 2021 Results. Revenue for the quarter was $126.3 million, which is down (31.6%) year-over-year and (8.3%) over Q3 2021, primarily due to the continuation and acceleration of macroeconomic headwinds in the core demographic. Gross margin for the quarter was 65%, which represents an 883 bps decline year-over-year, and a 650 bps decline compared to Q3 2021. This decline is primarily due to deleverage on fixed cost from the decline in revenue and 1-time costs associated with Smile OS startup and lower retail margin associated with higher operational expense and excess inventory costs. Q4 Adjusted EBITDA (1) was $(61.6mm) for the quarter, down compared to prior quarter due to the revenue headwinds noted above. Net loss for the quarter was ($95.4mm) smile CLUB Net Revenue Gross Profit Gross Margin % Adjusted EBITDA (1) EPS, Diluted $657 $450 Q4 2021 FY 2020 $ 126.3mm $ 81.9mm 64.9% SA $ (61.6mm) (0.25) Full Year Revenue & Gross Profit ($ in millions) Revenue QoQ (8.3%) (16.6%) (65 1bps) (14.1%) NM (1) Adjusted EBITDA is a non-GAAP financial measure. See appendix for definition of Adjusted EBITDA. $638 $460 YOY (31.6%) (39.8%) (883bps) FY 2021 NM NM Gross Profit Full Year 2021 revenue is down 2.9% compared to Full Year 2020, while FY Gross Profit was up 2.2% 19#20Gross Margin. Gross margin for the quarter was 65%, which represents a 651bps decline compared to Q3 2021. This decline is largely attributable to deleverage from the decline in revenue along with the following items: On COGS, we have continued to make great progress on manufacturing automation with our 2nd Gen machines now producing approximately 91% of our aligners, which is continuing the sequential trend from 84% in Q2 2021 and 89% in Q3 2021. smile One-time costs related to the implementation of our internal treatment planning software, SmileOS and lower retail margin, primarily due to higher expansion costs and excess inventory costs. Total one-time costs had an approximate 400 bps impact on margin in Q4 2021. CLUB 73% 70% 54% $572 Gross margin% 70% 2019 74% 76% 74% Gross Profit Q4 2019 Q12020 Q2 2020 Q3 2020 Q4 2020 Q12021 Q2 2021 Q3 2021 Q4 2021 71% $450 III 2020 $460 4% 2021 65% 20