Recurring Revenue Model with a Twist • CHUB has a recurring revenue model similar to many other SaaS companies. • However, there is a wonderful twist: CHUB usage revenue will be increasing with every new e-commerce transaction that involves dropshipping. • Thus, unlike many other SaaS companies, CHUB does not have to sign any new customers in order to keep growing (though we expect that CHUB will keep signing more and more customers). CHUB Is Uniquely Levered to E-Commerce Growth Caro-Kann Capital LLC 22