Investor Presentation

INSPIRATO Operating expenses Technology & Development Expenses $26 $23 $20 $20 $17 $14 $13 Sales & Marketing Expenses 1 ($ in mm) 2 $83 ($ in mm) $75 $65 $53 $36 $26 $16 % of Revenue 2019 12% 2020 9% 2021E 16% 2022E 14% 2023E 13% 2024E 11% 2025E 9% 2019 % of Revenue 6% 2020 8% 2021E 2022E 2023E 2024E 8% 5% 4% 3% 2025E 3% General & Administrative Expenses 3 ($ in mm) Key Highlights $67 $60 $53 $47 1 $39 Increase in S&M expenses attributed to building out salesforce to drive acceleration in new Active Subscribers, cross-sell and upsell of existing products $30 $31 2 Investment in T&D to continue to optimize online functionality and platform optimization 2019 2020 2021E 2022E 2023E 2024E 2025E 3 G&A expected to decline as percent of revenue driven by economies of scale and lack of need for additional corporate and senior team resources % of Revenue 18% 18% 14% 13% 11% 9% 8% Source: Company financial model as of 05/07/2021. Please refer to "Risk Factors Summary" in Appendix Note: Total operating expenses presented in this presentation are consistent with our audited financial statements, however, we have reclassified certain expenses as follows: (1) costs related to providing member services included in general and administrative and sales and marketing in this presentation are reported as Operations in our audited financial statements and () corporate technology costs reported in technology and development costs in this presentation are reported in general and administrative costs in our audited financial statements CONFIDENTIAL 49

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