Boxed SPAC Presentation Deck

2. Coveted B2C brand delivering a seamless shopping experience for everyday bulk-essentials A Look at Our Customers % of Users More Likely to Be Value Prop % of BoxedUP Customer Base TAM (# of Households) % Household Penetration(a) BACKROADERS 36% Rural, rent, single, far from Costco Live far from Costco Like value of bulk sizes Enjoy promos and giveaways Small business mentality, anti-Amazon 42% 54m 0.21% Note: Boxed analysis based on segmentation data as of Dec'20 (a) Reflects # of distinct customers placing at least 1 order during 2020 applied to total household TAM SMALL TOWNERS 33% Rural/suburban, married, own home Stocking up for the family Like the value in bulk sizes with no membership fee Small business mentality, anti-Amazon 32% 40m 0.35% PLEASANTVILLERS 20% Suburban, married, parents Stocking up for the family Like the value in bulk sizes with no membership fee Convenience 17% 19m 0.64% . . URBANITES 11% Urban, close to Costco Convenience Ship heavy items like seltzer Don't want to spend free time at wholesale clubs 9% 8m 0.68% 19

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