Grove Investor Presentation Deck

M&A Provides Step-Change Upside Opportunity SYNERGY LEVERS grove.com platform sales of acquired brand Grove DTC fulfillment capability / target rationalization Grove in-house marketing capabilities (replace agencies) Opex consolidation Combine retail sales effort (rev synergies) Targeting EBITDA synergy of ~30% of purchase price Evaluating transformative and strategic add-on opportunities Focus is on core business + bar for action is extremely high. A A FY2023 ($M) 265 -17 Grove COLLABORATIVE 2023E 200 1+1 = 3 Analysis (Transformative Deal) FY23 Standalone Outlooks vs. Pro Forma -25 ACCESS TO CAPITAL + HUMANCO PARTNERSHIP Grove announced in Q4 2022 a partnership with Human Co, the mission-driven health and wellness company. We are partnering with the intention of finding scale, synergistic M&A opportunities which HumanCo would have an opportunity to fund with up to $100 million of new capital. Representative target 2023E Grove COLLABORATIVE 450-500 10-40 Representative target + Grove Pro Forma (Range represents 75-100% of synergy capture) HumanCo Revenue Adj. EBITDA 29 8

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