Grove SPAC Presentation Deck

Note: 1. Marketing Investments Create Strong Annuity-Like Returns 2020 CONTRIBUTION PROFIT / CAC BY COHORT (¹) 80% 60% 40% 20% 0% 2017 2018 Target 5-year LTV / CAC in the 2-3x range 2019 Strong return on capital with contribution profit / CAC 100% of cohorts have >50% contribution profit / CAC in 2020 Bars show the contribution profit in 2020 of cohorts acquired in 2017, 2018, 2019 respectively. Contribution profit is a non-GAAP measure and is defined as gross profit less fulfillment costs; the data on this slide is prepared solely for purposes of this presentation. CAC excludes acquisition and media spend on test channels and brand marketing spend. 41 8

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