Investor Presentaiton

Clear pathway to significant revenues growth and strong profitability Dec YE financials [£m] 2020E 2021F 2022F 2023F 2024F Revenue % YOY 162 698 2,072 3,957 5,883 n/a 331% 197% 91% 49% Gross profit (3) 44 159 401 746 Gross Margin [2%] 6% 8% 10% 13% SG&A as % of revenue (53%) [29%] (17%) (13%) [11%] Distribution [11%] [6%] [4%] [4%] [4%] Marketing [22%] [8%] (5%) [3%] [3%] Overhead (20%) (15%) [8%] [5%] [5%] Operating profit [88] [156] [186] [100] 83 Operating Margin [54%] (22%) [9%] [3%] 1% EBITDA [81] [138] [149] [42] 160 EBITDA Margin (50%) (20%) [7%] [1%] 3% Capex (excl. M&A) [20] [41] [53] [43] [68] [1] Free Cash Flow (101) [178] [202] [85] 92 Note: 2020 financial information and data is unaudited based on draft statutory accounts, and subject to change. Forward-looking projections are for illustrative purposes and should not be relied upon as being necessarily indicative of future results. (1) Free cash flow defined as EBITDA minus capex (excl. M&A). Metrics that are considered non-IFRS financial measures such as EBITDA, EBITDA margin and free cash flow are presented on a non- IFRS basis without reconciliations of such forward-looking non-IFRS measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. EBITDA and Operating profit are stated before share-based payment charges and exceptional items. CAZOO Investor Presentation - March 2021 33

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