Investor Presentaiton

27 CARLOTZ REVENUE BRIDGE (2020 - 2022) A B C D $184 $23 $13 $25 $356 $110 A B 0 D $61 $945 $192 $8 $25 $302 2020E Sales Sales Volume at 2021 Hubs Sales Volume at Existing Hubs Change in Retail Selling Price Other (F&I, Wholesale, Misc.) 2021E Sales Sales Volume at 2021 Hubs Sales Volume at 2022 Hubs Sales Volume at Existing Hubs Change in Retail Selling Price Other (F&I, Wholesale, Misc.) 2022E Sales A Assumes sales of 35% of hub inventory compared to more than 50% at existing hubs each month B Existing hubs modestly grow sales as a result of expanding inventory in 2021 and beyond (Pre-COVID, existing hub inventory grew 20-30% in the first three months of 2020 compared to 2019) C Average selling price increases from $16,054 to $17,250 between 2020 and 2022, representing a 3.7% CAGR, driven by anticipated vehicle mix from current and new selling partners. The average projected selling price increase is 7% lower than the increase recorded between 2017 and 2019 D Other changes include modest growth in F&I product attachment and stable wholesale sales at 15% of total revenue, as compared to the 11% of total revenue average increase recorded between 2017 and 2019 Note: These projections are for illustrative purposes and should not be relied upon as being necessarily indicative of future results. carlotz

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