Boxed SPAC Presentation Deck

Increase Marketing Investment Proven track record of delivering growth through marketing investment New Customers (K) Marketing Spend ($M)(¹) 173 $9 FY¹15 YOY GMV Growth: 302 $20 FY'16 +125% ANNUAL NEW CUSTOMERS 304 $20 FY'17 +51% 218 $12 FY'18 +6% Notes: (1) Marketing spend includes acquisition cost and other non-working marketing spend. Marketing spend divided by new customers is not reflective of CAC 348 $21 FY'19 +27% 257 $5 FY'20 +7% +44% - B2C (-53%) - B2B 48

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