Grove SPAC Presentation Deck

1 Investing in a Sustainable Future Virgin's Investment Thesis for Grove Collaborative We believe Grove is the #1 DTC brand in Natural Health & Personal Care (HPC) (), with real scale and demonstrated growth, strong consumer engagement, attractive gross margins, and a leading ESG profile Grove's sustainability-first mindset and commitment to people and the planet are unmatched by competitors, which we believe will continue to drive outsized value creation as consumers increasingly shift towards and commit to sustainable and natural products 2 Scale Opportunity Grove's current revenue profile of ~$400MM is only a small fraction of the $180Bn addressable market for home and personal care in the US, leaving tremendous opportunity for growth domestically and internationally driven by Grove's data- powered innovation engine, disruptive brand portfolio, and digitally-led distribution strategy Notes: I. 3 Rapid Growth and Broad Consumer Traction Proven ability to drive rapid growth as we believe Grove is the #1 brand in a fast growing space), with a 54% revenue CAGR from 2018- 2021E, fueled by consumers across a diverse demographic set who exhibit impressive levels of brand engagement, repeat purchase behaviour, and long-term retention 4 Strong and Increasing Margins Healthy 50% gross margins projected to grow to 56% by 2024E as the company scales, drives brand awareness, and continues to increase mix of Grove brand products 5 Validated Retail Strategy Highly impressive performance during the first year of the exclusive Target partnership, validating Grove's ability to unlock the retail channel, in which 90% of the category's North American sales still occur, and presenting material upside beyond plan 6 Virgin World Class Management Team Management team possesses deep sustainability, CPG, and tech experience, and has demonstrated a long track record of success Based on 2020 revenue estimates for Burt's Bees, Dr. Bronner's, Green Works, Method, Mrs. Meyers, Seventh Generation, and Tom's of Maine, per Euromonitor International Ltd Beauty & Personal Care 2022ed; ; Honest Co., per its S-1 filing; and, for Blueland, CleanCult, Dropps, Earth Breeze, PublicGoods and TruEarth, management's analysis of publicly reported revenue data for the most recent years available and Second Measure's Observed Sales dataset for 2019-2021 58

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