Karat IPO Presentation Deck

INDUSTRY OVERVIEW ($ in billions) With the growing trend towards food delivery, take out and at home dining, restaurants are increasingly focused on providing a premium, branded experience to their customers $64 2020 $14 $25 Disposable Foodservice Products Market $67 2021 4.1% CAGR $69 $50 U.S. Online Delivery Market $72 2022 2023 2024 36.7% CAGR $63 $76 $75 $91 $107 $78 2025 $125 2018 2019 2020 2021 2022 2023 2024 2025 Source: Coherent Market Insights and UBS Research. We expect our growth to significantly outpace the industry average given: 1 Our increase of sales of high demand items like take out containers and bags CONFIDENTIAL 2 Our ability to continuously augment our product offering to address customer needs 3 Our avoidance of product categories in decline, including Styrofoam and other materials in the process of being banned under various governmental regulations The disposable foodservice products industry is large and growing and is expected to grow to $78 billion by 2025 according to Coherent Market Insights The primary categories of disposable foodservice products include food packaging, containers, tableware, cups, lids, cutlery, straws, napkins and bags . The breadth and scope of products is reflected in the diverse nature of the industry participants, which range from large international conglomerates to smaller regional and niche companies The industry is currently experiencing a period of both growth and transition as a result of several key factors that have emerged in recent years and have accelerated during the COVID- 19 pandemic 1. The growing market for food delivery and take out dining 2. New governmental regulations primarily resulting from an increasingly environmentally-conscious public Consolidation within the disposable foodservice products industry 3. Karat 7

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