Shift SPAC Presentation Deck

A Leading Online Used Car Platform SHIFT Massive fragmented market with accelerating ecommerce penetration Experienced team leading technology and consumer experience Expansive customer base and partner network Differentiated at-home test drives and Value segment Broadest spectrum of used car inventory $841BN Domestic Used Automotive TAM 70 Net Promoter Score¹ 330K+ Peak Monthly Unique Visitors in 2020² 85%+ Vehicles Sourced from Consumers $16,046 2020E ecommerce ASP³ 7.9% 2020E Adjusted Gross Margin4 Strong unit economics primed for growth Source: Wall Street research, Management 'Net promoter score is the average of Shift buyers, sellers, and test drivers, 2YTD 2020 monthly unique visitors averaged ~255K ³Ecommerce vehicle revenue divided by ecommerce units 4Reflects adjusted gross margin, which excludes a non-cash contra-revenue adjustment primarily associated with Lithia warrant milestones. 2020E adjusted gross margin is negatively impacted by 1.0 % as a result of non-repair labor cost. Adjusted gross margin is a non-GAAP financial measure. For a reconciliation of adjusted gross margin to its most directly comparable GAAP financial measure see page 44 of the Presentation. Note: These projections are for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. Metrics that are considered non-GAAP financial measures are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. Shift defines Value segment cars as those with > 80,000 miles or > 8 years old. All historical annual GAAP financials shown are audited; quarterly, non-GAAP financials and projections are unaudited. 36

View entire presentation