Clover Health SPAC Presentation Deck
Disclaimer
This presentation has been prepared for use by Social Capital Hedosophia Holdings Corp. ("SCH") and Clover Health LLC ("Clover") in connection with their proposed business combination. This presentation is for information
purposes only and is being provided to you solely in your capacity as a potential investor in considering an investment in SCH and may not be reproduced or redistributed, in whole or in part, without the prior written consent of SCH
and Cover. Neither 5CH nor Clover makes any representation or warranty as to the accuracy or completeness of the information contained in this presentation. This presentation is not intended to be all-inclusive or to contain at the
information that a person may desire in considering an investment in SCH and is not intended to form the basis of any investment decision in SCH. You should consult your own legal regulatory, tax, business, financial and accounting
advisors to the extent you deem necessary, and must make your own investment decision and perform your own independent investigation and analysis of an investment in Social Capital and the transactions contemplated in this
presentation
This presentation shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, sollicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such jurisdiction.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE OR TERRITORIAL SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR
COMPLETE.
Industry and Market Data. The data contained herein is derived from various internal and extemal sources. No representation is made as to the reasonableness of the assumptions made within or the accuracy or completeness of any
projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication as to future performance. SCH and Clover assume no obligation to update the
information in this presentation. Further, these financials were prepared by Clover in accordance with private Company AICPA standards. Clover is currently in the process of uplifting its financials to comply with public company and
SEC requirements
Trademarks SCH and Clover own or have rights to various trademarks, service marks and trade names that they use in connection with the operation of their respective businesses. This Presentation may also contain trademarks,
service marks, trade names and copyrights of third parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this Presentation is not intended
to, and does not imply, a relationship with SCH or Clover, or an endorsement or sponsorship by or of SCH or Claver. Salely for convenience, the trademarks, service marks, trade names and copyrights referred to in this Presentation
may appear without the TM, SM, or symbols, but such references are not intended to indicate, in any way, that SCH or Clover will not assert, to the fullest extent under applicable law, their rights or the right of the applicable
licensor to these trademarks, service marks, trade names and copyrights.
Use of Projections. The financial projections, estimates and targets in this presentation are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of
which are beyond SCH's and Clover's control. While al financial projections, estimates and targets are necessarily speculative, SCH and Clover believe that the preparation of prospective financial information involves increasingly
higher levels of uncertainty the further out the projection, estimate or target extends from the date of preparation. The assumptions and estimates underlying the projected, expected or target results are inherently uncertain and are
subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the financial projections, estimates and targets. The
inclusion of financial projections, estimates and targets in this presentation should not be regarded as an indication that Social Capital and Clover, or their representatives, considered or consider the financial projections, estimates and
targets to be a reliable prediction of future events.
Use of Non-GAAP Financial Measures. This presentation includes certain non-GAAP financial measures, including Adjusted EBITDA and Adjusted EBITDA Margin, and measures calculated based on these measures, that are not prepared
in accordance with accounting principles generally accepted in the United States ("GAAP") and that may be different from non GAAP financial measures used by other companies. These nan GAAP measures, and other measures that
are calculated using these non-GAAP measures, are an addition, and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to operating
income, net income or any other performance measures derived in accordance with GAAP.
Clover believes that these non-GAAP measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about Clover. Clover's management uses forward looking non-GAAP
measures to evaluate Clover's projected financial and operating performance. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example other
companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore Clover's non-GAAP measures may not be directly comparable to similarly titled measures of
other companies.
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