Sonder Holdings Inc. · OTC:SONDQ

Sonder — Q3 2021 Earnings Presentation

14 slides from Sonder's earnings presentation, Nov 9, 2021

  1. Slide 1: Third Quarter 2021 Summary Results

    Third Quarter 2021 Summary Results November 9, 2021 1 Hotel Atala, Paris Opened in August 2021

  2. Slide 2: Disclaimer

    Disclaimer This presentation (the “Presentation”) is being made in connection with a potential transaction Such forward-looking statements are based upon the current beliefs and expectations of the (the “Business Combination”) between Sonder Holdings Inc. (“Sonder”) and Gores Metropoulos management

  3. Slide 3: Disclaimer

    Disclaimer Sonder and GM II believe that such non-GAAP financial measures provide useful information to Trademarks and Trade Names Participants in Solicitation investors and others in understanding and evaluating Sonder’s operating results in the same Sonder and GM II and their respective affiliates ow

  4. Slide 4: Q3 2021 Financial Highlights

    Third Quarter 2021 Summary Results Q3 2021 Financial Highlights Accelerating growth supported by robust market tailwinds Record Q3 Revenue $67M +155% YoY +43% QoQ Driven in part by continued $1261 83% of Q3’19 RevPAR recovery +64% YoY +26% QoQ Improving Property Level Profit and Adj. EBITDA $11M QoQ

  5. Slide 5: Q3 2021 Corporate Highlights

    Third Quarter 2021 Summary Results Q3 2021 Corporate Highlights Announced additional capital to allow us to pursue our ambitious growth and expansion strategy Parián, Mexico City Opened in September 2021 De-risked balance sheet with $530M fully funded plan 1,2 Total Capital ~$530M1,2 of Total Capita

  6. Slide 6: Raising our full year 2021 Outlook

    Third Quarter 2021 Summary Results Raising our full year 2021 Outlook Continued RevPAR growth and portfolio expansion driving revenue outperformance and improving Adjusted EBITDA The Quincy, Washington D.C. Opened in October 2021 $200M 2021 Revenue Outlook 17% (midpoint) increase vs. initial outlook

  7. Slide 7: Robust travel demand has helped drive continued growth in ADRs

    Third Quarter 2021 Summary Results Robust travel demand has helped drive continued growth in ADRs, while occupancy rates have stabilized near ~70%, yielding 26% QoQ RevPAR growth in Q3’21 Quarterly ADR ($) and Occupancy Rate (%) Quarterly RevPAR ($) (ADR x Occupancy) 83% of Q3’19 RevPAR 62% of Q2’19

  8. Slide 8: RevPAR recovery combined with bookable nights growth drove record Q3 2021 Revenue

    Third Quarter 2021 Summary Results RevPAR recovery combined with bookable nights growth drove record Q3 2021 Revenue and improvement in Adjusted EBITDA and Property Level Profit (Loss) Quarterly Revenue ($M) Quarterly Adjusted EBITDA2 ($M) Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q1'20 Q2'20 Q3'20 Q

  9. Slide 9: We are raising our outlook for full year 2021 Revenue

    Third Quarter 2021 Summary Results 2021 Full Year Revenue Outlook ($M) +17% +7% vs. Initial Outlook2 vs. Initial Outlook2 +75% YoY Growth2 +59% We are raising our outlook for +49% YoY Growth2 $205 YoY Growth $190 full year 2021 Revenue given RevPAR outperformance throughout the first 9 months of the

  10. Slide 10: Appendix

    Downtown Tower II, Dubai Opened in October 2021 Appendix 10

  11. Slide 11: Transaction summary

    Appendix Transaction summary Illustrative Pro Forma Valuation ($M, except per share values) Key Transaction Terms Pro Forma Capitalization ● Pro forma enterprise value of $1,925M (3.2x 2022E revenue) Share Price at Merger $ 10.00 ● Pro forma net balance sheet cash includes proceeds from the March 20

  12. Slide 12: Financial summary and operating results

    Appendix Metric Q3 2021 Q3 2020 Δ YoY Revenue (000s) $67,454 $26,471 155% Net Loss (000s) $(64,584) $(55,514) (16)% Live Units 6,300 3,900 62% 1 Total Portfolio 16,200 10,400 56% 2 Bookable Nights 535,603 345,989 55% Occupied Nights 365,979 257,279 42% Occupancy Rate 68% 74% (8)% Average Daily Rate

  13. Slide 13: Property Level Profit (Loss) Quarterly Non-GAAP Reconciliation

    Appendix GAAP to Non-GAAP Bridges ($ in 000s) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Loss from operations $(71,229) $(54,265) $(52,197) $(66,131) $(71,049) $(64,934) $(55,401) Operations & Support, General & Administrative, $66,184 $44,719 $54,160 $57,442 $63,402 $68,458 $70,453 Res

  14. Slide 14: Adj. EBITDA Quarterly Non-GAAP Reconciliation

    Appendix GAAP to Non-GAAP Bridges ($ in 000s) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Net Loss $(61,743) $(60,799) $(55,514) $(72,260) $(78,541) $(73,949) $(64,584) Interest expense, net $1,507 $1,669 $1,658 $1,568 $3,827 $12,522 $13,279 Provision for income taxes - $3 $11 $309 $23 $

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