Glassbox : INVESTORS PRESENTATION - Q2 2023

Second Quarter 2023

Investor Meeting

Yaron Morgenstern, CEO

Kobi Carlebach, CFO

Dan Yalon, Strategy and BD

Osi Sessler, IR

August 20, 2023

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Legal Disclaimer

• This presentation does not constitute an offer of securities by Glassbox Ltd. (the "Company") to the public and it may be not construed as an offer of securities to the public. This presentation constitutes a conceptual and marketing presentation of the Company. The information contained in this presentation and any other information provided during the presentation of the presentation (the "Information") does not constitute a recommendation or an opinion of an investment advisor or a tax advisor. The Information is concise information only. Investing in securities in general and in the Company's securities, in particular, bears a risk. It should be taken into account that past data does not necessarily indicate future performance. The acquisition of the Company's securities requires an in-depth examination of the information published in the Company's reports, and the performance of its legal, accounting, taxation, and economic analysis.
• The presentation includes additional information that was not presented in the reports published by the Company to the public and/or information presented differently from the way in which it was presented in the reports published by the Company to the public, including cash balance (slide 3), the mission to provide organizations with frictionless digital journeys, the total number of customers and proven ROI (slide 4), continued increase in usage (slide 5), industries we serve and verticals (slide 6), proven enterprise land-and-expand (slide 7), gross and net retention rates (slides 8 and 9), powering better digital experiences through Glassbox AI (slide 10), G2 and Gartner ratings (slides 11 and 12), growth and profitability measures (slide 13), the plan for accelerating the shift to positive cash flow and profitability (slide 14), improvement in cloud gross margin (slide 18), year-on-year revenue growth and cut in operating loss (slide 19), reduction in operating loss and one-time impact of multi- year on-premise deal (slide 22), which is presented for the first time in this presentation and/or is presented differently from the way in which it was presented in the reports published by the Company to the public. The presentation is not intended to replace the need to review the reports issued by the Company to the public, including the Public Offering Prospectus, an Offering of sale, and a Shelf Prospectus dated June 4, 2021, as amended on June 8, 2021, the Company's periodic report for the year of 2022 (the "Periodic Report"), the Company's quarterly report for the second quarter of 2023, and the Company's immediate reports.
• Forward-LookingInformation Warning:
  The Company's forecasts and assessments as set forth in this presentation, including expected cash burn (slides 3 and 5), expansion of voice-of-the-silent offering further integrating NLP (ChatGPT) (slide 10), expected annual savings and start dates, and shift to positive cash flow and profitability (slides 13), the plan to accelerate the shift to positive cash flow and profitability (slide 14), estimated annual savings and their start date, and expected cash burn (slide 19), and expected full-year 2023 cash burn reduction (slide 21), are regarded as Forward-Looking Information, as such term is defined in the Securities Law, 5728-1968, the realization of which is uncertain and is not under the complete control of the Company. This information is based, among other things, on the assessments of the Company's management and the Company's goals and strategy, the technological environment in which the Company operates, its field of activity and the demand for its products, the existence of financing channels available to the Company for the purpose of fulfilling of the said goals, as well as the realization of either of the risk factors listed in section 1.36 of the Periodic Report. It should be clarified that there is no certainty that the abovementioned Forward-Looking Information will realize, and if realized, there is no certainty that its realization will not be different from the abovementioned, even materially.

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Q2 2023 financial highlights

$11.2M	71.4%		65.7%		$39.3M
Revenues, up 9%	Cloud gross margin,	Gross margin (non-	Cash balance
Cloud subscription	up from 66.2%	GAAP), up from	including credit line
revenues up 16%			62.2%

$48M		$35M	86%		$5.8M
ARR, up 4%		Cloud ARR	YTD Large enterprise*	Operating cash burn,
		up 17%	gross retention	full year expected to be
						significantly lower YoY

Note: All comparisons are in relation to previous year (Q2-23 vs. Q2-22) * Large enterprises (annual revenues of over $250,000)

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Glassbox is on a mission to provide organizations with frictionless digital journeys

~270*

Employees

"Must have" → Proven ROI 5x

Leading enterprises as

customers

20+	300+	>$790k
Countries	Customers	Average contract value
for large enterprise

Ensuring exceptional	ONE platform MANY products
customer experiences that	enables increase revenues
drive engagement, loyalty and revenue	from existing customers

* Including contractors

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Q2 in review - strong fundamentals in the business

• Cloud ARR increased 17% YoY
• Gross Margin - dramatic improvement driven by cloud margins improvement, reaching 71.4%
• Operating loss cut by HALF YoY
• 33 new customers YTD, major brands including Southern Gas and AssetMark
• More than doubled ROI generated to customers vs. Q2 22 - supporting their cost-cutting needs
• Continued increase in usage of our product by our customers - stickiness
• Continuous expansions with large customers (US large insurance, APAC airlines)
• Full year cash burn expected to be significantly lower YoY
• Financially independent: Secured $20M credit facility with Bank Hapoalim

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