Blue Apron A : Q2 2023 Earnings Slides

This presentation includes statements concerning Blue Apron Holdings, Inc. and its future expectations, plans and prospects that constitute "forward-

looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained herein that

are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by

terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates,"

"predicts," "potential," or "continue," or the negative of these terms or other similar expressions. The forward-looking statements in this presentation

are only predictions. Blue Apron has based these forward-looking statements largely on its current expectations and projections about future events

and financial trends that it believes may affect its business, financial condition and results of operations. These forward-looking statements speak only

as of the date of this presentation and are subject to a number of risks, uncertainties and assumptions including, without limitation, the company's

ability to successfully execute its business without its fulfillment and production assets; the company's ability to successfully and efficiently transition

its fulfillment and production assets to FreshRealm, Inc. ("FreshRealm"); the ability of FreshRealm to continue to fulfill the company's meal-kit

products in a manner consistent with the company's brand standards, if at all; the company's ability to achieve the anticipated benefits of the

FreshRealm transaction for its stockholders; the sufficiency of the company's cash resources and its ability to continue to operate as a going concern

if it is unable to execute its business strategy and implement its new asset-light operating plan, including (a) the company's ability to (i) earn up to $4.0

million in additional cash consideration under the asset purchase agreement it entered into with FreshRealm in connection with the FreshRealm

transaction, (ii) realize the benefit of the full $3.5 million promissory note issued in connection with the FreshRealm transaction, and (iii) achieve the up

to $17.5 million of volume-based rebates under the production and fulfillment agreement the company entered into with FreshRealm, (b) the ability of

FreshRealm to cost effectively price the production and fulfillment of the company's meal kits and other products, or (c) the company's ability, if it is

unable to successfully implement its operating strategy, to recognize the benefits of its identified expense reductions, including the company's recent

headcount reductions, or raise additional capital or funding, including through (i) the company's at-the-market offering launched in February 2023 or

otherwise, (ii) receiving all or a sufficient portion of the remaining $68.2 million due to the company in connection with the $56.5 million private

placement and the $12.7 million gift card transaction with certain affiliates of Joseph N. Sanberg, or (iii) the disposition of some or all of the pledged

securities securing the private placement obligation; the company's ability, including the timing and extent, to successfully support the execution of its

strategy; the company's ability to cost-effectively attract new customers and retain existing customers (including, on the one hand, the company's

ability to execute its marketing strategy, or on the other hand, the company's ability to sustain any increase in demand the company may experience);

the company's ability to continue to expand its product offerings and distribution channels; the company's ability to sustain any increase in demand

and/or ability to continue to execute operational efficiency practices, including managing its corporate workforce reduction implemented in December

2022 and the impact of its workforce reduction on executing the company's strategy;

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