Investor Presentaiton
Parallel is raising the bar
PIVOTAL POSITION
SIZE & SCALE
Projected 2021 Net Revenue - $447 million 1,2
Projected 2021 Adjusted EBITDA - $102 million 1,2
Current - 5 markets; 42 stores
Superior corporate talent led by BEAU WRIGLEY
GROWTH FUEL
STRONG BALANCE SHEET + STRATEGIC M&A
$430 million pro forma cash balance 1,3
Growth - 8 markets; 86 stores by end of 20221
Embedded organic growth & value-driven M&A in key markets
Proposed merger with Ceres expected to provide valuable public currency & capital structure¹
LOYALTY CREATION
UNIQUE CONSUMER ACCESS
Direct access to all consumer segments
Valuable strategic relationships to increase brand awareness globally
Well-positioned to drive the "consumerification” of cannabis
Access to iconic brands and talent led by SCOOTER BRAUN
C
CERES
ACQUISITION CORP.
1. See "Forward-Looking Statements" disclaimer on page 3-4 and financial assumptions on pages 57-58. 2. See "Non-GAAP Measures, Reconciliation, and Discussion" disclaimer on page 5 and Adjusted EBITDA reconciliation on page 59. 3. Assumes $225 million PIPE
and $120 million cash held in escrow from Ceres, along with $84.9 million in cash comprised of Parallel cash on hand as of December 31, 2020, Ceres cash on hand as of September 30, 2020, and Parallel Series E proceeds, less estimated transaction fees for the
contemplated Transaction.
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