Depends on the chainline you'll like to achieve, each spacer is 2.5mm.
It's possible to move it a little, but your cranks will be offset, which mostly won't be noticed but would annoy me.
Brader, MTB cranks on a 120 spaced rear frame, you know better what I'm talking about... tsk tsk tsk...
@snottyotter started
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Depends on the chainline you'll like to achieve, each spacer is 2.5mm.