Slide 1: Investor Presentation Q2 2025
Investor Presentation Q2 2025 As of August 7, 2025
Slide 2: Safe Harbor Statement/Non-GAAP Measures
Safe Harbor Statement/Non-GAAP Measures All information in this presentation is as of August 7, 2025. Forward-Looking Statements Certain statements included in this presentation are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litig
Slide 3: Your home, family, planet, healthier.
Your home, family, planet, healthier.
Slide 4: Grove's transformation fuels momentum for future growth
Grove’s transformation fuels momentum for future growth 2024 ● Sequential Revenue growth in fourth quarter ● $1.3M positive Adjusted EBITDA in FY24 ● Positive Operating Cash Flow in last three quarters of 2024 ● Removed default subscriptions and opened business model ● Optimized Fulfillment Center ne
Slide 5: Grove's turnaround roadmap
Grove’s turnaround roadmap 2026 & Beyond SUSTAINABLE 2024-2025 PROFITABILITY STRATEGIC - Consistent, profitable TRANSFORMATION revenue growth. 2022-2023 - Transitioned to open - Scale advertising DRIVE TO PROFITABILITY shopping experience investment with high return on investment. 2020-2021 - Full P&
Slide 6: Grove's transformation journey
Grove’s transformation journey Prioritize Revenue Growth Drive to Profitability Transformation Full-year 2025 revenue is expected to decline approximately mid-single-digit Pandemic Bump in to low double digit percentage 2020-2021 points year-over-year. Adjusted EBITDA is expected to be negative low s
Slide 7: Vetted essentials for a healthier home, body, and planet
Grove Collaborative: The leading platform for conscientious consumers Vetted essentials for Leading the way a healthier home, A higher standard Beyond Plastic™ body, and planet Every product meets rigorous Helping consumers reduce A differentiated alternative to standards for health, exposure to chem
Slide 8: 57 million
Expanding our reach to reflect our broader commitment to a healthier home and planet BEFORE 57 million 1 5 million customers 2 reached through conscientious consumers want healthier, cleaning focus and subscription boxes planet-friendly products for their families AFTER Better serve the remaining 52
Slide 9: Consumers are prioritizing natural and sustainable products like never before
Consumers are prioritizing natural and sustainable products like never before Consumers are voting with their wallets—brands that align with sustainability and wellness are positioned for long-term growth. SUSTAINABILITY MATTERS WELLNESS-DRIVEN PURCHASING 80% +28% of U.S. consumers cumulative growth
Slide 10: Building a trusted marketplace with a winning product mix
STRATEGIC FOCUS Building a trusted marketplace with a winning product mix CONFIDENTIAL
Slide 11: Our 2025 strategy is concentrated around three strategic initiatives
Our 2025 strategy is concentrated around three strategic initiatives Empowering 57M conscientious consumers to create a healthier home and planet MAKING GROVE THE PREFERRED CHOICE SCALE PLATFORM TO WIN GROW PRODUCT MIX BUILD CUSTOMER LOVE Optimize growth with leading Through third-party Strengthenin
Slide 12: Trusted, curated marketplace
PLATFORM SCALED TO WIN Trusted, curated MARKETING EFFICIENT COST BOX ECONOMICS FRAMEWORK STRUCTURE marketplace Guided, personalized Strategic cost optimization 8+ units per order1 experience $66+ net revenue per A higher standard: Where value Media mix informed by Streamlined workforce order1 meet v
Slide 13: Win in human health and wellness
GROW PRODUCT MIX Win in human health and wellness VMS GROWTH Improve customer conversion through increased selection, increased marketing exposure, and enhanced content EXPAND NON-VMS ADVISORY BOARD Target white space categories to aid the customer journey of Experts for credibility and trust buildi
Slide 14: Third-party learning from VMS success
GROW PRODUCT MIX VMS success lays the blueprint for further expansion into new Third-party learning Grove categories from VMS success Customers trust us1: 89% of customers surveyed trust Grove for health and wellness needs. Adding 100+ brands and Higher order sizes2: 20%+ higher net increasing assor
Slide 15: Owned brands strategy evolution
GROW PRODUCT MIX Owned brands strategy evolution Building our portfolio of exclusive products CORE CLEANING: REFILLABLES EVOLUTION IN THE HOME: MARGIN ACCRETIVE EXPANSION AND CONCENTRATES PAPER, TRASH, DURABLES Industry leading sustainability: Bamboo based paper enabling meeting and exceeding unique
Slide 16: Earn trust through authentic content
BUILD CUSTOMER LOVE Earn trust through authentic content Deepen trust and brand authority with engaging, educational storytelling that inspires informed choices Home Planet Blog Organic Social Product Rich Editorials PLPs and PDPs Builds trust and Provides educational Bridges education Guide custome
Slide 17: Q2 2025 Financial results
MEASURING OUR IMPACT Q2 2025 Financial results
Slide 18: Q2 2025 Financial Results
Q2 2025 Financial Results -15.5% vs. LY Revenue declined year-over-year due to lagging effects of REVENUE $44.0M reduced advertising investment in 2024 and prior years, +1.1% vs. Q1 25 which led to a smaller active subscriber and therefore lower repeat order volume, as well as temporary disruptions f
Slide 19: Holistic P&L Transformation Has Resulted in Improved Bottom Line Performance
Holistic P&L Transformation Has Resulted in Improved Bottom Line Performance Adjusted EBITDA ($M) Cost structure improvements and expense discipline are driving improved bottom line results despite lower revenue
Slide 20: Cash Flow Improvements Signal Strengthening Operational Discipline
Cash Flow Improvements Signal Strengthening Operational Discipline Operating Cash Flow ($M) Includes acquired working capital from acquisitions One-time expenses (Lease termination) and interest payments
Slide 21: Enhanced efficiency driving margin expansion and operational leverage
Enhanced efficiency driving margin expansion and operational leverage GAAP Gross Margin 820 bps of margin expansion driven by improved promotional strategies, increase in third party vendor funding, and sell through of previously reserved for inventory.
Slide 22: Improved Balance Sheet Driven by Debt Reduction and Lower Interest Burden
Improved Balance Sheet Driven by Debt Reduction and Lower Interest Burden Gross Debt Outstanding(1) & Interest Expense by Quarter ($M) Term Debt Fully Repaid in Q4 2022 reducing interest burden; Only Interest $7.5M ABL Facility Expense Down Remains. $1.6 90% in 2025 vs. 2024 — Freeing Up Capital $0.
Slide 23: Sequential Growth Still Expected in Q3 and Q4 with Return to Slight Year-Over-Year Growth
Sequential Growth Still Expected in Q3 and Q4 with Return to Slight Year-over-Year Growth in Q4 Expected quarterly Quarterly Revenue ($M) sequential growth leading to slight year-over-year growth in Q4 Q1 seasonal decline and ecommerce platform migration disruption
Slide 24: Financial outlook 2025 Revised Guidance
Financial outlook 2025 Revised Guidance First quarter revenue is still expected to Revenue ➔ be the lowest revenue quarter in 2025 and going forward. ➔ Revenue is still expected to improve in the third quarter, leading to slight year-over-year growth in the fourth quarter. ➔ Full-year 2025 revenue i
Slide 25: Supplemental
Qos Supplemental
Slide 26: Balance Sheet and Cash
Balance Sheet and Cash Balance Sheet Cash & Debt Jun. 30, Dec. 31, 2025 2024 Ending Cash, Cash Equivalents & $14.0 million $24.3 million Restricted Cash $7.5 million $7.5 million Outstanding Debt ABL ABL
Slide 27: Leadership Team With Depth of Ecommerce Experience to Execute
Leadership Team With Depth of Ecommerce Experience to Execute Jeff Yurcisin, Tom Siragusa, Interim Chief Scott Giesler, General Counsel Jennifer Pann, Vice President, Jason Buursma, Vice President, Chief Executive Officer Financial Officer Merchandising & E-Commerce Marketing Nearly 20 years of experienc
Slide 28: Appendix
Qos Appendix
Slide 29: Adjusted EBITDA Reconciliation - Quarterly
Adjusted EBITDA Reconciliation - Quarterly $MM (1) Reconciliation of Net (Loss) Income to Adjusted EBITDA Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Net Loss ($47.4) ($35.3) $7.7 ($12.7) ($13.1) ($10.9) ($9.8) ($9.5) ($3.4) ($10.1)
Slide 30: Adjusted EBITDA Reconciliation - Annual
Adjusted EBITDA Reconciliation - Annual $MM (1) Reconciliation of Net (Loss) Income to Adjusted EBITDA FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Net Loss ($25.3) ($81.7) ($161.5) ($72.3) ($135.9) ($87.7) ($43.2) ($27.4) Stock-Based Compensation — $1.6 $12.0 $7.8 $14.6 $45.7 $15
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