ContextLogic Inc.

Good afternoon ladies and gentlemen and thank you for standing by. Welcome to ContextLogic's first quarter 2025 earnings conference call. At this time all participants are in listen only mode and there will not be a question and answer session at the conclusion of today's call. However, a recording and transcript will be made available online and management will make themselves available to the investor community over the coming weeks. Except for historical information, the matters discussed during this call may include forward-looking statements within the meaning of the applicable U.S. securities legislation. Forward-looking statements involve known and unknown risks and uncertainties and other factors that may cause actual financial results, performance, or achievements to be materially different from estimated future results. All forward-looking statements reflect each of the company's current views with respect to future events and are subject to risks and uncertainties and assumptions have been made in drawing the conclusions included in such forward-looking statements. All statements other than historical facts are forward-looking statements. Actual results could differ materially and the companies undertakes no obligation to update any such forward-looking statements. Please also note that the past performance is not a guarantee of future results. During this call there will be reference to certain non-IFRS and non-GAAP financial measures which should not be considered in isolation from or as a substitute for measures prepared in accordance with international financial reporting standards or generally accepted accounting principles. As a reminder all figures unless otherwise noted will be in U.S. dollars. I will now turn the call over to the host of today's call Rishi Bajaj, CEO of ContextLogic. Mr. Bajaj, you may begin.

Good afternoon. I would like to briefly highlight our operating results for the quarter ending March 31, 2025. In Q1, 2025 we raised $75 million in cash from VC partners through an investment in a subsidiary of the company which also included a company option for an additional $75 million that we can call to help fund the future acquisition. We incurred $6 million of G&A expenses which include $2 million of expenses related to the evaluation of the C of potential transactions including the VC partner strategic investment. We incurred $3 million of costs directly related to the VC partners investment which are recorded at stock issuance costs. This implies that we've spent approximately $5 million of cash on transaction related costs during the quarter. Our cash expenses were offset by interest income of approximately $2 million. We closed the quarter with $222 million of cash, cash equivalent to marketable securities which includes the $75 million we raised from VC partners. This compares to $149 million at the end of fiscal year 2024. As evidenced by our limited cash burn, we are committed to keeping cash expenses low in order to leave us with the most cash possible to grow and create both organically and through acquisition a strong and durable business. Since VC partners closed the strategic investment in Contact Logics, Ted Goldthorpe and the VC partners team have worked daily with Contact Logics to identify growth and acquisition opportunities. We have been overwhelmed by the effort from VC partners in expanding our pipeline of opportunities and enhancing our capabilities. And we are extremely encouraged by the receptiveness of potential partners as well as the quality of inbound outreach. Ted and I are excited to share more with you in the coming quarters as we make progress along the

growth strategy.

Ladies and gentlemen, this does conclude today's conference call. Again, thank you very much for joining us today. You may all disconnect and have a wonderful day. Goodbye.