Grove Results Presentation Deck

Q3 Fiscal 2022 • Financial Highlights $400 $300 $200 $100 $0 $233 2019 NET REVENUE ($MM) $364 2020 $384 2021 $100 $75 $50 $25 $0 $95 Q3-2021 $78 Q3-2022 Net revenue was $78 million, a year-over-year decrease of 18 percent. The decrease was primarily driven by fewer new and existing customer orders as a result of fewer active customers and the reduction in advertising spend with Grove's prioritization of increasing profitability. The decrease in orders was partly offset by an increase in AOVS and an increase in retail revenue. 60% 40% 20% 0% 35.8% 2019 GROSS MARGIN 48.3% 2020 49.1% 2021 50.4% Q3-2021 49.1% Q3-2022 ooo Gross margin was down 130 bps year-over-year to 49.1% due to an increase in product costs, including inbound freight costs, an increase in sales from retail sales, which produce lower margins than our DTC channel sales, and an increase to inventory reserves, partially offset by the impacts of net revenue management initiatives including the introduction of strategic price increases on Grove Brands and third party products. 10

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