Maveron Edit A NOTE FROM THE TEAM

Maveron Family & Friends,

This year has been a constant practice of gratitude - gratitude for health, gratitude for our frontline workers, and immense gratitude for the people (and technology!) that made us feel connected despite being physically so far apart.

As 2020 has changed every facet of our lives, we decided to shift the focus of our year-end reflection. Rather than gifting ideas, we are instead sharing our predictions, our values, and the little things that got us through 2020.

From the bottom of our hearts, we wish you, and your families, a very happy holiday season!

Best Wishes, Our Team

PAGE 03 01 COVID massively accelerated e-commerce adoption by bringing in CONSUMER new shoppers and sellers that are here to stay.

PREDICTIONS 02 Telehealth experienced a paradigm shift in 2020. Favorable regulation and increased familiarity with the modality present a radically new way we will receive care.

03 The surge in screen time is fueled by a yearning for connectedness - gaming, social, and entertainment platforms are all vying to be that third 2020 has been a relentless year of change. Our routines were The surge in space where youth connect through uprooted, our sense of security was disrupted, and a cloud of shared experiences. uncertainty hung throughout the year. screen time is fueled by a yearning for As investors we wanted to see past the fog and wrestle with 04 the questions of what behaviors are short term reactionary to connectedness The country is more divided than COVID, which behaviors are longer lasting and where are there ever - from wealth to ideology - and pockets of opportunity. Here are a few of our predictions... people are finding their divisions and tribes online. We see opportunities for brands to stand for those tribes, to build platforms that can host them, and to harness the good that digital tribes can offer.

PAGE 05 YEAR IN A GLANCE

Febuary June September October

Maveron co-leads the Series A in The John Legend performs a live, Allbirds raises $100M from Franklin Direct-to-consumer hearing aid Landing, founded by former Shipt immersive, virtual concert on Wave. Templeton manufacturer, Eargo, goes public! founder Bill Smith Wave was the first Series A investment Maveron led in January 2020 Maveron leads a Series A in a plant Pacaso, Series A investment led by based chicken company - Daring Maveron, launches a new ownership April model to buy second homes July Modern Fertility's pregnancy and Anarghya Vardhana welcomes a ovulation tests became available in daughter, Dhimahee, to her family Maveron engages a social impact 1,600 Walmart locations December consultancy, Community Action Partners to advance equity and BookClub, a Maveron led Series A Lovevery launches its first ever home May inclusion within the firm and portfolio investment, launches so readers can good collection chat with their favorite authors Imperfect Foods raises $72M in Series C Pete McCormick adopts a puppy! to expand their growth August Thirty Madison raises a $47M Series B As Americans rush to adopt pets, Nécessarie debuts their all Course Hero $80 million Series B Trupanion, hits $4B market cap. natural, clean, toxic free deodorant round is one of the largest U.S. Maveron led the Series A fourteen funding deals of 2020, and brings years ago, long believers in pet Course Hero’s valuation to $1.1B insurance space!

Maveron joins 9 other venture firms to increase diversity on cap tables

PAGE 07 NEW Born to a family of engineers, Jerry grew He built his career as a data scientist at up perpetually curious about the world. Google, where he helped to launch and FACES With the Lego set his parents bought grow YouTube’s first paid subscription him for his fifth birthday, he became businesses (YouTube Red, YouTube fascinated with using the little bricks Music, YouTube TV). to build whatever came to mind. This fascination would later influence him Every Christmas, Jerry goes back to to follow his parents’ path becoming Taiwan to spend time with his family. an engineer. After graduating with a BS And since his grandfather's birthday and MS from UC Berkeley, he started also happens to be the day after Veronica Reaves his career in consumer tech and then Christmas, the holidays become the spent several years in media, both as one time of the year for which his an operator and investor. extended family all fly back to celebrate Imagine growing up with kids of all ages in avid traveler who has flown around the and spend time with each other. every room of your home for twenty-four world twice. When she is not traveling or Prior to Maveron, Jerry was at Advancit hours a day. Veronica did, and as a result working with founders, she is spending Capital, a media-focused investment she is great at building relationships time with family and loved ones. fund investing in tech-enabled, and solving problems. She took her consumer, and next-generation media talent to Deloitte Consulting where she When in Seattle for Christmas, the family companies. In addition to completing launched an initiative to help support tradition is to spend the day at her Aunt his MBA at Wharton, Jerry spent his social entrepreneurs in solving their Sandra’s house with the rest of her time before becoming an investor as an organization’s most challenging problems. large extended family. Veronica’s family operator, leading operations at Spate Her passion for helping entrepreneurs matriarch is her grandmother, Mary (a YC-backed startup using data to succeed led her to move to the island Taylor, who turns 92 this year. Mary has predict the next big consumer trends). of Mauritius to help launch the edtech six daughters who all live in the Seattle startup African Leadership University, area with their families. Needless to named one of Africa’s most innovative say, every Christmas at Aunt Sandra’s is companies by Fast Company in 2016. packed with many family members and Jerry Lu everyone looks forward to the family Originally from Seattle, Veronica has a karaoke battle after dinner. This year’s keen nose and taste for a great cup of battle will have to go digital with families coffee and loves being outside. She is an competing over Zoom!

PAGE 09 American consciousness has the power to accelerate social justice and to help repair the world. Rather than just sitting by the sidelines, Maveron chose to take action! This year the Maveron team selected to donate $8,000 each to four key organizations fighting for social justice in unique and equally important ways. The Equal Justice Initiative, World Central Kitchen, The Hidden Genius Project, and Youth Care Seattle. These organizations are focused on criminal justice reform, youth education and shelter, and food insecurity. We hope that as you round the year out you also take some time to reflect and give to organizations you cherish and who are helping to make a difference. GIVING TUESDAY

This year has been a year of great to think critically about what triumph, great loss, and great matters most in our lives. This year reckoning. How we live, work, eat, has also gifted us with an enhanced play, learn, and even mourn was ability to empathize and listen to quickly redefined and transformed the experience of those who may by none other than nature itself. not share our same background, Non-normalcy is a trait we often race, ethnicity, and or privileges. seek in our founders, and yet, we are all enduring a non-normal life As the Maveron team reflected on experience that has impacted each these lessons, we also shared a of our lives in both similar and great sense of hope for what the different ways. So, what did we future could be. We believe that learn? 2020 has forced each of us the collective awakening of the

PAGE 11 BOOK AND RECIPE RECOMMENDATIONS

PAGE 13 Just Mercy Bryan Stevenson

A powerful true story about the potential for mercy to redeem us, and a clarion call to fix our broken system of justice—from one of the most brilliant and influential lawyers of our time.

LEARN MORE

No Rules Rules: Transcendent Becoming Greenlights Caste: The Educated Netflix and Kingdom Michelle Obama Matthew Origins of Our Tara Westover the Culture of Yaa Gyasi McConaughey Discontents Reinvention Isabel Wilkerson Reed Hastings

PAGE 15 Homegoing Yaa Gyasi

Homegoing follows the parallel paths of sisters and their descendants through eight generations. Yaa Gyasi’s extraordinary novel illuminates slavery’s troubled legacy both for those who were taken and those who stayed—and shows how the memory of captivity has been inscribed on the soul of our nation.

LEARN MORE

The Biggest Dignity: Seeking Younger Next Bluff Respect in Back Year Maria Konnikova Row America Chris Crowley and Chris Arnade Henry Lodge

PAGE 17 Hot Toddy

INGREDIENTS 1 cup water 1 tea bag 1 tbsp honey 1 1/2 oz whiskey, brandy, or rum 1 tbsp freshly squeezed lemon juice

OPTIONAL GARNISHES Lemon wedge Cinnamon sticks

DIRECTIONS Steep the tea bag in freshly boiled water for 10-minutes (Yogi Throat Comfort is my favorite—subtly spiced and perfect for winter). Make sure to cover the cup!

Once steeped, mix in the honey.

Then add the freshly squeezed lemon and pour the liquor of choice (whiskey is my favorite for this recipe).

Stir well and drink!

PAGE 19 Apple Tart Ribollita Fall Soup Ina Garten Giada De Laurentiis

Bake Ina Garten's French Apple Tart Ribollita is a traditional centuries-old recipe from Barefoot Contessa on Food Vegetarian Tuscan soup that is made from reboiling Crockpot White Network with Granny Smith apples atop vegetable soup the next day with the buttery, homemade pastry dough. Mexican Casserole addition of bread. Chicken Chili Jolinda Hackett Erin Clarke

VIEW RECIPE VIEW RECIPE This lacto-vegetarian Mexican-inspired This recipie is prized for its easy prep, casserole recipe is a one dish vegetarian creamy texture, and healthy ingredients. casserole perfect for busy nights and It also allows you to work on something the entire family. else while it cooks!

VIEW RECIPE VIEW RECIPE

PAGE 21 More time in nature! Hiking, fishing Go on walks every day (with or gardening, biking, exploring without the family dog), workout a ton - weights, jump rope and Connect with extended family Peloton for the win! digitally and dress up from time to time Add a stretching evening routine - as soon as you finish work fire up a Start a regular virtual game night 25-30 minute stretching video. Your with old friends joints and muscles will thank you!

Clean out/organize your closets Walk to your local coffee shop to get out of the house Take walks around the city. Rediscover San Francisco's beauty Binge on the Crown, After Life, with less people around Ozark and Stranger Things

Walk the Brooklyn Bridge and Basketball with the kids, or try explore new parts of Williamsburg setting up aquariums for them

Walk to Pikes Place, and enjoy Stay calm - recognizing this too Seattle's landmarks without shall eventually pass the crowds QUARANTINE ACTIVITIES

PAGE 23 MAVERON MOOD PLAYLIST

From Tina Turner to Drake, there's something for everyone. Check out the Maveron Mood playlist on Spotify.

CHECK OUT THE FULL PLAYLIST

Bye Bye Baby Say Something Up all Night 'Till I Collapse Peace Train Wind of Change Bay City Rollers (feat. Chris Drake, Eminem, 10,000 Maniacs Scorpions Stapleton) Nicki Minaj Nate Dogg Justin Timberlake

PAGE 25 THANK YOU - OUR FRIENDS, FOUNDERS, INVESTORS AND COMMUNITY.

We wish you health and happiness as we head into 2021!