Investor Presentaiton

GROWTH AND PROFITABILITY BENCHMARKING 145.0% carlotz 13.9% carlotz 2020E - 2023E Revenue CAGR (%)² Mean: 65.6% 164.3% 91.7% 65.1% 40.1% 1 SHIFT vroom CARVANA carlotz 2023E Gross Profit Margin (%)² Mean: 13.6% 16.0% 14.0% 10.8% CARVANA SHIFT vroom 5.6% carlotz 2020E - 2023E Gross Profit CAGR (%)² Mean: 93.3% 132.2% 100.9% SHIFT 46.8% vroom CARVANA 2023E EBITDA Margin (%) 2 4.7% Mean: 2.7% 2.5% 0.8% CARVANA SHIFT 1 vroom 42 Sources: Company filings, Wall Street Research, FactSet Note: These projections are for illustrative purposes and should not be relied upon as being necessarily indicative of future results. Metrics that are considered non-GAAP financial measures such as EBITDA margin are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. Market data as of October 16, 2020. 1 Shift 2020A-2023E financial information per Shift October 2020 Investor Presentation. Shift 2023E financial information estimated for purposes of this presentation assuming 2022-2023E revenue growth rate of 70.0% and 2023E gross profit margin of 14.0%. 2 CarLotz figures based on midpoint of 2023E projections. carlotz

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