Business Description

Overview Allbirds is a global lifestyle brand that innovates with naturally derived materials to make better footwear and apparel products in a better way, while treading lighter on our planet. We began our journey in 2015 with three fundamental beliefs about the emerging generation of consumers: first, these consumers recognize that climate change is an existential threat to the human race; second, these consumers connect their purchase decisions with their impact on the planet, demanding more from businesses; and third, these consumers do not want to compromise between looking good, feeling good, and doing good. We became a public benefit corporation, or PBC, under Delaware law and earned our B Corporation, or B Corp, certification in 2016, codifying how we take into account the impact our actions have on all of our stakeholders, including the environment, our flock of employees, communities, consumers, and investors. Our strong brand equity is fueled by our differentiated footwear and apparel products created by sustainability-driven innovation. Our Products Our product development engine is a fully integrated ecosystem, bringing together strategy, sustainability, design, sourcing, development, and production. With teams operating in our U.S. headquarters and alongside our global manufacturing and supply chain innovation partners, we unite cutting-edge design with comfort to create distinctly modern, products. Guided by modern design principles and sustainable materials, our approach to footwear and apparel prioritizes longevity, versatility, and responsible innovation. We offer a thoughtfully curated range of lifestyle products for men and women, each crafted with our core values at the forefront. Our goal is to create products that endure—through both responsible craftsmanship and the unmistakable Allbirds aesthetic . Our products contain natural and recycled materials that are both more sustainable and have tangible benefits for our customers, such as comfort, temperature regulation, and odor control. Some of these include superfine ZQ certified merino wool, tree fibers, and sugarcane. Footwear is the foundation of our brand and represents the majority of our revenue. Footwear consists of both our core franchises and new product styles. Our deep expertise in footwear and materials research also informs our secondary apparel offerings, from classic tees and sweats to socks and underwear, ensuring the same commitment to comfort, sustainability, and timeless design across all categories. Marketing Strategy and Brand At Allbirds, we believe in the power of balance—between nature and innovation, sustainability and style, performance and comfort. Inspired by Mother Nature and human nature, our brand exists to help people tread lighter on the planet while living more fully in it. With a vertically integrated approach, we maintain a direct relationship with our customers, allowing us to pair an organic marketing strategy fueled with elevated valuable content, with a rich data ecosystem. This enables us to cultivate a balanced and diversified marketing funnel, which begins by earning our consumers attention and is consistently optimizing return on investment. We are focused on increasing brand awareness and consumer touchpoints through the following marketing initiatives: • Extending our reach and connecting with our customers through digital and performance marketing, social media, CTV and other media, and customer experience. • Spreading our message through storytelling that celebrates human nature, word-of-mouth, thought leadership, public relations campaigns, partnerships, and community. By harnessing the best of nature; human and from the earth, we continue to inspire a movement toward a more sustainable, well-balanced future. 4 Table of Contents Direct Business Strategy In the United States, we reach our customers primarily through our direct business, a digitally-led vertical retail distribution strategy, which combines our eCommerce site and third-party marketplace site, so we can make a strong connection with our customers and meet them where they are, delivering both value and convenience. Our typical customers live an active and curious lifestyle, care about health and well-being, are willing to pay for premium products, frequently purchase products online, live in urban center settings, and appreciate socially conscious brands.…