Investor Presentaiton

Transaction summary Key Transaction Highlights $7,000m Implied Sources & Uses Headline Valuation Sources ($m] Uses ($m) 1.3x / 12.6x Existing Shareholders Rollover Equity 6,380 Existing Shareholders Rollover Equity 6,380 23F Revenue / GP Multiple Cash in Trust (4) PIPE 805 800 Primary Proceeds 895 Secondary Proceeds 605 [5] Transaction Fees 105 Total 7,985 Total 7,985 Pro Forma Enterprise Value $6,985m $8,075m Pro Forma Equity Value Value to Cazoo Shareholders(1) 79% Cazoo Shareholder Ownership (2) Financing Details Pro Forma Ownership(6) Pro Forma Ownership $805m SPAC size $895m Primary proceeds $800m PIPE size $605m[3] Secondary proceeds SPAC Investors Represents, in aggregate, 8.7% of existing shareholder value PIPE Investors Sponsors Existing Cazoo Shareholders Total % Value ($m) 10.0% 805 9.9% 800 1.1% 89 79.0% 6,380 100% 8,075 Note: Presentation on this page represents current expectations relating to transaction structure and is subject to further discussion and negotiation of definitive documentation in its entirety. [1] Total value including secondary. [2] Total shareholder ownership post transaction. [3] Any redemptions will impact the value of secondary proceeds. Secondary proceeds represent c.38% of total SPAC and PIPE proceeds. [4] Estimated Ajax cash- in-trust at closing. Assumes no Ajax stockholder has exercised its redemption rights. This amount will be reduced by the amount of cash used to satisfy any redemptions. (5) Estimated transaction fees of c.$105m, exact value to be finalised. Additional estimated stamp duty of c.$35m to be funded from primary proceeds post transaction. (6) Illustrative $10 share price, assuming 0% redemption rate on the SPAC Shares. CAZOO Investor Presentation - March 2021 7

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