Masterworks Investor Presentation Deck

How We Understand Art Market Appreciation Our in-house research team focuses on understanding appreciation in the art market Note: 1 2 3 Data Collection Index Construction Proprietary Metrics Proprietary market databases tracking over 350,000 public transaction records and more than $12 billion in offered works(1) Used 30,000 repeat sale pairs to build the leading indices in the art market Developed in-house analytics to assess artist market appreciation, momentum, bidder depth and collector demand 1. Reflects cumulative total amount of all artworks offered to Masterworks as of 3/7/2022 1995-1 13 1 LE 11 5 million Data points for auction sales starting as early as 1960 - Contemporary Art - All Art Impressionist Art 1997 7999 2001 2008 AGNES MARTIN: Price and Estimates Progression 2005 2007 2009 2011 2013 2015 2017 THIS PRESENTATION IS BEING CONDUCTED BY MASTERWORKS UNDER SEC RULE 3A4-1. THIS PRESENTATION IS NOT PROVIDED BY OR USED IN SOLICITATIONS BY A BROKERAGE MASTERWORKS FIRM OR BROKER. PLEASE SEE "IMPORTANT DISCLOSURE INFORMATION" SECTION OF THIS PRESENTATION 6

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