Lulus IPO Presentation Deck

Disclaimer This presentation contains, in addition to historical Information, certain forward-looking statements that are based on Lulu's Fashion Holdings, Inc.'s ("Lulus" or the "Company") current assumptions, expectations and projections about future performance and events and relate to, among other matters, our future financial performance, our business strategy, industry and market trends, future expectations concerning our market position, future operations, use of proceeds in the anticipated offering and capital expenditures. Forwardlooking statements generally contain words such as "belleves." expects." "may," "will," "should," "seeks," "approximately." "intends," "plans," "estimates," "anticipates, and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause actual results to differ materially from expectations include, among others: our ability to maintain our desired merchandise assortment or manage our inventory effectively: our ability to anticipate identify, measure, and respond quickly to customer data on new and rapidly changing fashion trends, customer preferences and demands; our efforts to acquire or retain customers; our ability to maintain a high level of engagement with our customers and increase their spending with us; our ability to provide high-quality customer support; our ability to maintain a strong community around the Lulus brand with engaged customers and Influencers; our ability to manage the risks associated with sourcing, manufacturing, and warehousing: our ability to manage the risks associated with reliance on Independent third-party transportation provides for substantially all of our merchandise shipments; our ability to manage the risks associate with our two distribution facilities, including the process of strengthening the disaster recovery procedures implemented there; our ability to manage the risks associated with our suppliers; our ability to manage system security risk issues, including any real or perceived failure to protect confidential or personal information against security breaches and disruption of our internal operations or information technology systems; our ability to effectively manage our growth; our ability to effectively expand our manufacturing and production capacity: our ability to successfully enter new markets, manage our international expansion and comply with any applicable laws and regulations; the effects of Increased competition from our market competitors; the success of our marketing efforts and the ability to grow brand awareness and maintain, protect and enhance our brand; changes in government regulations and policies, tax laws and rates; our ability to obtain financing arrangements on terms favorable to us or at all, the effect of the COVID-19 pandemic on our business and operations, and general economic conditions. We are under no duty to update any of these forward-looking statements after the date of this presentation to conform these statements to actual results or revised expectations. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this presentation. This presentation includes certain non-GAAP financial measures (including on a forward-looking basis) such as adjusted EBITDA and adjusted Free Cash Flow. These non GAAP measures are an addition, and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with GAAP. Reconciliations of non-GAAP measures to their most directly comparable GAAP counterparts are included in the Appendix to this presentation. Lulus believes that these non-GAAP measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about Lulus. Lulus' management uses forward looking non-GAAP measures to evaluate Lulus' projected financial and operating performance. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore Lulus' non-GAAP measures may not be directly comparable to similarly titled measures of other companies. [[[type]) Annotation] This presentation also contains estimates and other statistical data obtained from independent parties and by us relating to market size and growth and other data about our industry and ultimate consumers. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates and data. In addition, projections, assumption and estimates of our future performance and the future performance of the geographic and other markets in which we operate are necessarily subject to a high degree of uncertainty and risk The Company has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC web site at http://www.sec.gov. Alternatively, the Company, any underwriter, or any dealer participating in the offering will arrange to send you the prospectus if you request it from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, or by email at [email protected]; or BofA Securities, Inc., NC1-004-03-43, Attention: Prospectus Department, 200 North College Street, 3rd floor, Charlotte, North Carolina 29255, by telephone at (800) 294-1322, or by email at dg.prospectus_requests abofa.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388, or by email at [email protected]. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of our capital stock in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.