CommerceHubDropshipping Offering: Competition Competition Comments 1 Traditional legacy on- Point to point architecture => difficult and expensive premise solutions to maintain and update 2 In-house solutions No benefits of scale => expensive => only largest retailers can build solid in-house solutions 3 Other SaaS players No SaaS players have dropshipping solutions that can meet requirements of large retailers. Caro-Kann Capital LLC 38

CommerceHub: Uniquely Levered to E-Commerce Growth - Page 39 CommerceHub: Uniquely Levered to E-Commerce Growth Page 38 Page 40