ThredUP (NASDAQ: TDUP) Secondhand Ecommerce Company Goes Public -- Overview

▪ ThredUP (NASDAQ: TDUP) - one of the world's largest secondhand ecommerce company and founded in 2009 - goes public on March 26, 2021

▪ Raised $168M through issuing 12M new shares (excluding a option)

▪ Company at IPO Price of $14.00/sh: $1.6B

▪ price as of March 31st close: $23.33/sh, up 67% over IPO price

▪ Top line growth of 20% (2018-'20 CAGR) with FY2020 revenue of $186M

▪ Gross profit margin of 69%

▪ Still cash flow negative with FY2020 EBITDA of negative ($33M)

▪ 1.2M Active Buyers | 4M Orders | 428K Sellers

▪ Sustainability / conscious consumerism is emphasized in company filings as shopping secondhand reduces waste and Millennials and Gen Z are driving the shift

------Source: GrabAlpha.com, FactSet, company filings, as of March 31, 2021. 1 SEE DISCLAIMER ON GRABALPHA.COM ThredUP (NASDAQ: TDUP) Secondhand Ecommerce Company Goes Public -- Financial & Operating Snapshot KEY FINANCIALS CURRENT STOCK PRICE & CAPITALIZATION

TOTAL REVENUE Stock Price as of 3/31/2021 $23.33

Consignment Total Revenue CAGR (2018-'20): 20% % Change over IPO Price ($14.00) 67% Product $186 Fully Diluted Shares Outstanding 116.038 $164 $130 $48 Equity Market Capitalization ("EMC") $2,707 $66 Total ("TEV") $2,677 $90 $138 $98 TEV/Sales 19.4x $39

2018 2019 2020 KEY OPERATING DATA GROSS PROFIT Gross Profit CAGR (2018-'20): 28% $128 $113 1.2M 35% Active Buyers Active Buyers $78 CAGR 2018-’20 4.0M $32.32 $12.74 2018 2019 2020 Orders Avg. Gross Profit Avg. Contribution ADJUSTED EBITDA Per Order Profit Per Order (1) 428K 14% Active Sellers Active Sellers ($27) ($24) ($33) CAGR 2018-’20 2018 2019 2020 ------Source: GrabAlpha.com, FactSet, company filings, as of March 31, 2021. 2 Note: $ in millions, except per share and unless otherwise noted. Market data based on a stock price as of March 31, 2021. SEE DISCLAIMER ON GRABALPHA.COM 1) Defined as average gross profit per order less distribution center operating expenses associated with inbound item processing and less payment processing. Disclaimer

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