Allbirds Restructuring Presentation Deck
November 2023
4
Improve Cost Savings and Capital Efficiency
Strategies
• Drive Cost of Goods Sold (COGS)
improvements
O $20-$25 million of expected annualized
savings by 2025 (1)
• Reduce Selling, General & Administrative
(SG&A) expenses
O
$15-$20 million of expected annualized
savings by 2025(2)
• Optimize cash
O Improve inventory and working capital
(1) On a volume-neutral basis compared to 2022
(2) Compared to our run rate at end of 2022
allbirds
Year-to-date Results
(September 2023)
• Shifted to new manufacturing
partner for footwear in Vietnam
O Higher quality products
O Expected COGS savings of $3 per
pair
• Enhanced sourcing
O Optimizing materials costs to
generate expected COGS savings of
- $3 per pair
• Implemented a workforce reduction
Q2 '23
O
~ $7 million in annualized SG&A
savings
Key Initiatives
Strategic Transformation Plan
. Continued COGS efficiency via
sourcing to gain incremental
savings above targets
Long-Term Goals
• Higher landed product margin
out of factories as a % of MSRP
• Direct business gross margin
expansion
• SG&A leverage
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