facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded
by, followed by or include the words believes, estimates, expects, projects, forecasts, may, will, should, seeks, plans,
scheduled, anticipates or intends or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those
indicated by such statements. Certain of these risks are identified and discussed in the section of Caravels Form S-4 titled Risk Factors which was filed with the SEC on July 9, 2021.
These risk factors will be important to consider in determining future results and should be reviewed in their entirety. These forward-looking statements are based on Caravels or Rovers managements current expectations and beliefs,
as well as a number of assumptions concerning future events. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of
the date they are made, and neither Caravel nor Rover is under any obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or
otherwise, except as required by law. Readers should carefully review the statements set forth in the reports, which Caravel has filed or will file from time to time with the SEC.
In addition to factors previously disclosed in Caravels reports filed with the SEC and those identified elsewhere in this communication, the following
factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: risks and uncertainties related to the inability of the parties to successfully or timely consummate the merger,
including the risk that any required regulatory approvals or stockholder approvals of Caravel or Rover are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits
of the merger is not obtained, failure to realize the anticipated benefits of the merger, risks related to Rovers ability to execute on its business strategy, attract and retain users, develop new offerings, enhance existing offerings, compete
effectively, and manage growth and costs, the duration and global impact of COVID-19, the number of redemption requests made by Caravels public stockholders, the ability of the combined company to meet
Nasdaqs listing standards (or the standards of any other securities exchange on which securities of the public entity are listed) following the merger, the inability to complete the private placement of common stock of Caravel to certain
institutional accredited investors, the risk that the announcement and consummation of the transactions disrupts Rovers current plans and operations, costs related to the transactions, the outcome of any legal proceedings that may be
instituted against Caravel, Rover, or any of their respective directors or officers, regarding the proposed transaction, the ability of Caravel or the combined company to issue equity or equity-linked securities in connection with the proposed
business combination or in the future, the failure to realize anticipated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions and purchase price and other adjustments; and those factors discussed
in documents of Caravel filed, or to be filed, with SEC.
Additional factors that could cause actual results to differ materially from those expressed or
implied in forward-looking statements can be found in Caravels most recent reports on Form 8-K, which are available, free of charge, at the SECs website at www.sec.gov, and in the Registration
Statement on Form S-4 and Caravels proxy statement/prospectus/information statement when available. Any financial projections in this communication are forward-looking statements that are based on
assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Caravels and Rovers control. The assumptions and estimates underlying the projected results are inherently uncertain and are
subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. Caravel and Rover believe that the preparation of
prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The inclusion of projections in this communication should not be regarded as an indication that
Caravel and Rover, or their representatives, considered or consider the projections to be a reliable prediction of future events.