SmileDirectClub Results Presentation Deck

Marketing & selling. Marketing and selling expenses were $141 million, in line with our expectation, or 72% of net revenue. ● ● We continued to make significant strategic investments in launching international markets, and building on our already strong brand recognition. We expect to begin to leverage our SmileShop footprint in 2020 and beyond, with our marketing and selling long-term target being 40-45% of revenue. smile DIRECT CLUB Quarter Referrals as a % of Aligner Orders SmileShop Count 48% $57mm Q3 2018 Q3 2018 54% Q4 Q1 2018 2019 $69mm 19% 19% 20% 20% 20% 20% Marketing & selling expenses 139 190 223 310 54% $96mm Q2 Q3 Q4 2019 2019 2019 Q4 2018 Q1 2019 Actual $ 58% $113mm 73% $131mm 366 391 72% $141mm Q2 2019 Q3 2019 Q4 2019 % of Net Revenue 16

View entire presentation