Boxed SPAC Presentation Deck

Valuation (con't) 2021-23E Revenue CAGR 42.3% BOXED 4.4 38.3% BOXED ATTRACTIVE ENTRY VALUATION RELATIVE TO COMPARABLE PUBLIC COMPANIES 32.3% 30.1% BARK FARFETCH 2.1 POSHMARK 2021-23E Gross Margin Growth (pts) 1.3 0.5 E-COMMERCE chewy FARFETCH Cocado 20.6% THG REVOLVE wayfair chewy Clocado E-COMMERCE 0.5 18.2% 17.6% P POSHMARK Source: Publicly available information. Note: Market data as of April 5, 2021 0.4 Median: 19.4% 0.4 17.5% 16.9% Median: +0.5 pts (0.0) (1.4) THG wayfair REVOLVE BARK 23.5% MARKETPLACE 3.3 20.0% Etsy wish 1.3 Median: 18.7% wish Etsy 17.5% MARKETPLACE STITCH FIX 0.5 5.1% Median: +0.9 pts STITCH FIX ebay 0.1 ebay 40.9% shopify 0.1 BIGCOMMERCE SAAS Median: 22.8% 22.8% WIX BIGCOMMERCE SAAS 18.8% Median: -0.8 pts (0.8) shopify (1.0) WIX 39

View entire presentation