Bird SPAC Presentation Deck

Risk factors The COVID-19 pandemic and the impact of the actions taken to mitigate the pandemic have adversely affected, and may continue to adversely affect, Bird's business, financial condition and results of operations. . . . . ● Bird has a relatively new and evolving business model with a short operating history, which makes it difficult to evaluate future prospects, forecast financial results, and assess the risks and challenges Bird may face. Bird has incurred significant operating losses in the past and may not be able to achieve or maintain profitability in the future. If Bird fails to retain existing users or add new users, or if Bird's users decrease their level of engagement with its products and services, Bird's business, financial condition and results of operations may be significantly harmed. If Bird fails to attract and retain qualified Fleet Managers, or to increase utilization rates with its existing Fleet Managers, its revenue, financial results and business may be significantly harmed. Bird operates in a new and rapidly changing industry, which makes it difficult to evaluate its business and prospects. Poor weather adversely affects the use of Bird's services, which causes seasonality in its business and could negatively impact financial performance from period to period. Future operating results depend upon Bird's ability to obtain scooters that meet its quality specifications in sufficient quantities on commercially reasonable terms. Bird's metrics and estimates, including the key metrics included in this presentation, are subject to inherent challenges in measurement, and real or perceived inaccuracies in those metrics may harm its reputation and negatively affect its business. Bird has purchased third-party insurance policies in specified dollar amounts to provide certain coverage for injuries and deaths arising from its vehicles and/or the use of its vehicles, as well as legal costs associated with claims about any such injuries and deaths. If Bird's insurance coverage is insufficient, in amount or in breadth of coverage, for any such injuries and deaths or legal expenses resulting therefrom, or if Bird's insurance providers are unable to meet their obligations, Bird may not be able to mitigate the inherent risks facing its business as a result of injuries and deaths occasioned by its vehicles or the use of its vehicles, which could adversely affect Bird's business, financial condition and results of operations. For the past two years, Bird has experienced a significant increase each year in litigation costs (inclusive of defense costs and settlement payments) associated with personal injury claims. If Bird continues to experience significant increases in litigation costs, these costs could outpace the amount of insurance Bird maintains or fall outside the scope of such insurance, which could adversely affect Bird's business, financial condition and results of operations. Since Bird's inception, Bird has been involved in over one hundred personal injury lawsuits and threats of lawsuits involving allegations of soft-tissue injuries, fractures, brain injuries, internal injuries and death. To date, these actions have not resulted in a material loss to Bird, whether through settlements or defense costs, but many lawsuits remain pending and the number of lawsuits may rise as the number of consumers increases. The outcome of litigation is inherently unpredictable and could adversely affect Bird's business, financial condition and results of operations to the extent settlements, verdicts, and/or defense costs exceed Bird's insurance coverage or are outside the scope of Bird's insurance coverage. The costs of Bird's insurance coverage may rise significantly, or insurance coverage for Bird's business may become unavailable in the insurance market. Alternatively, Bird's insurance providers may require Bird to cover more costs through self-insured retentions, deductibles, or co-insurance obligations. Any of these scenarios could adversely affect Bird's business, financial condition and results of operations. Bird's business model includes its engagement of service providers through its Fleet Manager program, and that program and Bird's business may be adversely affected if claims are initiated that allege misclassification, and attendant violations of the California Labor Code, wage laws or other laws, as the result of Bird's treatment of Fleet Managers as contractors. The costs associated with defending, settling or resolving any such proceedings, and any liability determination, may substantially harm Bird's business, reputation and financial results, including by rendering further operations of Bird's business economically unfeasible or impracticable. Bird is defending consolidated proceedings alleging that individuals engaged as vehicle chargers and mechanics were misclassified as independent contractors in violation of the California Labor Code and wage laws. The costs associated with defending, settling or resolving these proceedings, and any liability determination, may substantially harm Bird's business, reputation and financial results. BIRD 48

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