Clever Leaves IPO Presentation

Adjusted Gross Profit / Adjusted Gross Margin (%) Reconciliation Non-GAAP Financial Measures In this presentation, Clever Leaves may reference certain non-GAAP financial measures, including Adjusted Gross Profit and Adjusted Gross Margin. Non-GAAP measures do not have a standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. Adjusted Gross Profit is defined as gross profit excluding inventory provision. Adjusted Gross Margin is defined as gross profit excluding inventory provision divided by Net Revenue. Clever Leaves considers Adjusted Gross Profit and Adjusted Gross Margin (%) to be a meaningful indicator of the operating performance of its business. Non-GAAP measures, including Adjusted Gross Profit and Adjusted Gross Margin (%), should neither be considered in isolation nor as a substitute for the financial measures prepared in accordance with U.S. GAAP. For a reconciliation of non-GAAP measures, including Adjusted Gross Profit and Adjusted Gross Margin (%), to the most directly comparable U.S. GAAP measure, see the relevant schedules provided with this presentation. Revenue Cost of sales, before inventory provision Inventory provision Gross Profit Inventory provision Adjusted Gross Profit (Non-GAAP Measure) Gross Profit Margin (%) Adjusted Gross Profit Margin (Non-GAAP Measure) (%) Three Months Ended September 30, 2023 2022 3,820 $ (1,614) (264) 1,942 (264) 2,206 50.8% 57.7% $ 2,867 (1,013) (555) 1,299 (555) 1,854 45.3% 64.7% Nine Months Ended September 30, 2023 $ $ 12,779 $ (5,286) (591) 6,902 (591) 7,493 54.0% 58.6% 2022 CLEVER LEAVES 12,008 (4,532) (1,103) 6,373 (1,103) 7,476 53.1% 62.3% 23

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