#1NOVEMBER 14, 2022 Business Update lyn lyn#2Forward Looking Statements & Non-GAAP Financial Measures This presentation and the accompanying oral presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Lyft's future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Lyft's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this presentation and the accompanying oral presentation include, but are not limited to, statements regarding Lyft's future financial and operating performance, including its outlook for the fourth quarter of 2022 and fiscal year 2024, expectations regarding profitability, cost reductions, revenue, Contribution Margin, Adjusted EBITDA and free cash flow, demand for Lyft's products and services and the markets in which Lyft operates and the future of transportation-as-a-service, the impact of the COVID-19 pandemic and the timing of economic recovery on our business, results of operations, and the markets in which we operate, rider and driver activity, including driver supply, on the Lyft platform and future incentive levels, and litigation and regulatory matters. Lyft's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including the effect of the COVID-19 pandemic and related impact on Lyft's business, trends in Lyft's business, in particular recovery in rides and driver supply levels, the macroeconomic environment, including inflation, and the impact of these factors and other market factors on operating expenses, including insurance costs, the sufficiency of Lyft's unrestricted cash, cash equivalents, and short-term investments, as well as risks associated with the outcome of litigation and regulatory matters and risks associated with our prior restatement and management's finding of a material weakness in our internal control over financial reporting. The forward-looking statements contained in this presentation are also subject to other risks and uncertainties, including those more fully described in Lyft's filings with the Securities and Exchange Commission, including in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022. The forward-looking statements in this presentation are based on information available to Lyft as of the date of this presentation, and Lyft disclaims any obligation to update any forward-looking statements, except as required by law. In addition to financial information presented in accordance with U.S. generally accepted accounting principles ("GAAP"), this presentation and the accompanying oral presentation include certain non-GAAP financial measures, including Contribution, Contribution Margin, Adjusted EBITDA, Adjusted EBITDA Margin, adjusted net loss, adjusted net loss per share, non-GAAP operating expenses and free cash flow. These non-GAAP measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP. These non-GAAP measures have limitations as analytical tools, and they should not be considered in isolation or as a substitute for analysis of other GAAP financial measures. A reconciliation of these measures to the most directly comparable GAAP measures is included at the end of this presentation. We have not provided the forward-looking GAAP equivalents for certain forward-looking non-GAAP measures presented in the accompanying oral presentation, or a GAAP reconciliation, as a result of the uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation expense. Accordingly, a reconciliation of these non-GAAP guidance metrics to their corresponding GAAP equivalents is not available without unreasonable effort. However, it is important to note that material changes to reconciling items could have a significant effect on future GAAP results. An active driver is defined as a driver who has given at least one rideshare ride on the Lyft network during the quarter. This presentation and the accompanying oral presentation also contain statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to such information. We have not independently verified the accuracy or completeness of the information contained in the industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that information nor do we undertake to update such information after the date of this 2 presentation.#3Category Launch to $1B in Adjusted EBITDA Adjusted EBITDA Profitability Revenue Q2 '12 Note: Pioneered Ridesharing IPO Launch Q1 '19 COVID Shutdown Q1'20 Q2 '21 $1 billion in Adjusted EBITDA in CY 2024 Q3'22 Q4 '24 Revenue before Q1'16 and beyond Q3'22 is illustrative and not to scale; in particular, the revenue associated with the full-year 2024 Adjusted EBITDA target of $1 billion is not to scale. Revenue is expected to fluctuate from quarter to quarter. 3#4Quarterly Revenue is Above the Pre-COVID Peak $776 Q1 '19 Note: $867 $956 $1,017 Q2 '19 Q3 '19 Q4 '19 Q1'19 through Q3'22 & midpoint of Q4'22 guidance ($ mns) $956 $339 $500 $570 $609 Q1'20 Q2 '20 Q3 '20 Q4 '20 Q1'21 $765 Q2 '21 $864 $970 $876 Q3 '21 Q4 '21 Q1 '22 $991 Q2'22 Estimated Q4'22 Revenue of $1,155 million reflects the midpoint of the guidance range of $1,145 - $1,165 million provided on our Q3'22 earnings call on November 7, 2022. $1,054 $1,155 Midpoint - Q4'22 Guidance Q3 '22 Q4 '22E 4#5Rider Recovery 20.5 Q1 '19 Note: 21.8 ~0.5m riders Q2 '19 22.3 22.9 Q3 '19 Q4 '19 21.2 Active Riders (mns): Q1'19 through Q3'22 8.7 12.5 12.6 Q1'20 Q2 '20 Q3 '20 Q4 '20: 13.5 Q1'21 17.1 1 Q2 '21 18.9 Q3 '21 18.7 Q4 '21 17.8 Q1 '22 ~0.5m riders 19.9 Q2'22 Active Riders in Q3'22 grew 7% year-over-year to 20.3 million from 18.9 million in Q3'21. On a sequential basis, Active Riders in Q3'22 grew 2% to 20.3 million from 19.9 million in Q2'22. 20.3 Q3 '22 5#6All-time High Revenue per Active Rider Q3'22 RPAR reflects higher revenue per ride due to longer trips $37.86 Q1 '19 Note: $39.77 Q2 '19 $42.82 $44.40 Q3 '19 Q4 '19 Revenue per Active Rider: Q1'19 through Q3'22 $45.06 $39.06 $39.94 $45.40 $45.13 $44.63 Q1'20 Q2 '20 Q3 '20 Q4 '20: Q1'21 Q2 '21 $45.63 Q3 '21 $51.79 Q4 '21 $49.18 $49.89 Q1'22 Q2'22 $51.88 Q3 '22 Revenue per Active Rider in Q3'22 grew 14% year-over-year to $51.88 from $45.63 in Q3'21. On a sequential basis, Revenue per Active Rider in Q3'22 grew 4% to $51.88 from $49.89 in Q2'22. Revenue per Active Rider also benefited from revenues from licensing and data access agreements, beginning in Q2'21, in addition to revenue from bikes and bike station hardware and software sales. 6#7Rideshare Intents / Rides Given = Conversion Rate Service Levels Keep Getting Better Every percentage point improvement in conversion rate can add millions of rides Q3'22 Rideshare Conversion Rate Q1 '19 Note: Q2 '19 Q3 '19 Q4 '19 Q1'20 Bars are not to scale; y-axis does not begin at 0%. ... Q3 '20 Q4 '20: Q1'21 Q2 '20 Q2 '21 Q3 '21 Q4 '21 Q1'22 Q2'22 ~70% Q3 '22 7#8Strong Growth Runway More room for recovery in key markets, especially on the West Coast West 60% Recovered Note: San Francisco 50% Recovered Los Angeles 51% Recovered Las Vegas 85% Recovered San Diego 68% Recovered Phoenix 81% Recovered Recovery is Q3'22 rideshare rides as a percentage of Q4'19 rideshare rides. Dallas 81% Recovered Chicago 68% Recovered Atlanta 75% Recovered Central 74% Recovered Philadelphia 62% Recovered ma New York 91% Recovered Washington 66% Recovered Miami 93% Recovered Boston 75% Recovered New Jersey 79% Recovered East 78% Recovered 8 co#9% of Revenue Operating Efficiency 65% 60% 55% 50% 45% 40% 35% Note: 57% 2018 Non-GAAP Cost of Revenue 2019 2020 2021 -15pp 42% LTM Q3 '22 % of Revenue 100% 90% 80% 70% 60% 50% 87% Non-GAAP Operating Expenses 2018 2019 2020 2021 -32pp 54% LTM Q3 '22 Operating Expenses and Cost of Revenue are non-GAAP financial measures. Operating Expenses includes operations and support, research and development, sales and marketing, and general and administrative. Please see the explanation of non-GAAP measures as well as reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. 9#10% of Revenue Margin Profile 70% 65% 55% 45% 35% Note: 43% 2018 Contribution Margin 2019 2020 2021 +15pp 58% LTM Q3 '22 % of Revenue 20% 0% (20%) (40%) (60%) (44%) 2018 Adjusted EBITDA Margin 2019 2020 2021 +51pp 7% LTM Q3 '22 Contribution Margin and Adjusted EBITDA Margin are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. 10#11Adjusted EBITDA (28%) ($216) Q1 '19 Note: (24%) ($204) Adjusted EBITDA and Margin: Q1′19 to Q3′22 & midpoint of Q4 Guidance ($ mns) (13%) (13%) ($128) Q2 '19 Q3 '19 ($131) ......... (9%) ($85) Q4 '19 Q1 '20 (83%) ($280) Q2 '20 (48%) Adjusted EBITDA ($240) Q3 '20 (26%) ($150) (12%) ($73) Q4 '20 Q1 '21 Margin $24 3% Q2 '21 $67 8% $75 8% Q3 '21 Q4 '21 ....…......... $55 6% $79 8% Q1'22 Q2'22 $66 6% $90 8% Q3'22 Q4 '22E The figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. Estimated Q4'22 Adjusted EBITDA of $90 million is the midpoint of the guidance range of $80 - $100 million provided on our Q3'22 earnings call on November 7, 2022. 11#12Annualized Cost Savings Cost reduction initiatives are expected to result in ~$350 million dollars of annualized savings Note: All figures are approximate. ~$145 Breakout of Cost Savings Initiatives ($mns) Reduction in Force ~$65 Backfilling/ International Strategy ~$140 Opex & Real Estate Rationalization ~$350 Annualized Non-GAAP P&L Cost Savings 12#13Financial Guidance Q4'22 Revenue Q4'22 Adjusted EBITDA (1) Note: 2024 Adjusted EBITDA 2024 Free Cash Flow¹ $1.145-$1.165 Billion $80-100 Million $1 Billion $700+ Million Lyft defines free cash flow as GAAP net cash provided by (used in) operating activities less purchases of property and equipment and scooter fleet. Certain figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. 13#14The Autonomous Transition The best way to commercialize AVs is through an existing transportation network 14#15Autonomous Vehicles Are Coming But it's still Day 1 for scaled deployment 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% Source: 2020 North America AV Adoption (% of Urban Miles Traveled) 2021 2022 2023 ARK 2021 Big Ideas - Annual Research Report, ARK Investment Management (Jan 6, 2021); slide 69. Dotted line denotes ARK forecast. 2024 2025 15#16AVs Will Drive Massive Global Market Expansion By materially reducing price per mile Price Per Mile Source: (1) (2) $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $2 - $3 Today ~$100B¹ 2022 car ownership cost $0.72/mile2 $1.00 ~$1.0T $2.8T $0.50 $5.0T $0.25 ARK 2022 Big Ideas - Annual Research Report, ARK Investment Management. Per our S-1, Lyft's market opportunity is $1+ trillion within the US and Canada. 2022E Global Ride Sharing Bookings from Precedent Research dated 9/28/2021. 2022 AAA Ownership cost based on 15K miles driven per year. $5.00 $3.75 $2.50 $1.25 Market Size ($ Trillions) 16#17We Are Set Up to Win the AV Transition Our network has delivered over 3 billion rides for tens of millions of riders. We believe Lyft is the best way to commercialize autonomous vehicles and we've already completed over 100,000 paid AV rides Hybrid Network Marketplace Engine Fleet Management Maximize utilization Maximize revenue Minimize cost 17#18Successful Deployment Requires a Hybrid Network AVs Only An AV-only network is almost always under- or over-supplied, leading to high costs and low utilization or riders not having rides at critical times. Hybrid Network Lyft's hybrid network of human drivers and AVs matches supply to demand dynamically in order to maximize market balance and utilization. This ensures AVs earn the highest revenue per vehicle and riders always have a ride. Demand Time - Hybrid Driver & Av Supply Static AV Supply High Demand Low Demand 18#19Address Variable Demand Demand can vary by as much as 10x over the course of a week, and variability is even greater with seasonality and holidays SeWilderness Fillmore Simi Valley Calabasas Santa Monica Palos Verdes Estates Rancho Palos Verdes Santa Clarita Beverly Hills Inglewood Hawthorne Torrance Burbank Carson Glendale Los Angeles Compton Long Beach Weekday Late Morning Demand A snapshot of demand in May 2019. Quartz Hill Rosamond Pasadena Lancaster Downey Monterey Park Palmdale Lakewood Pico Rivera San Gabriek Mountains Nationa Norwalk Arcadia El Monte Whittier La Mirada Edwards Air Force Bine Pleasant View Pidge Wilderness Sar Gohvel Buena Park West Covina Azusa Tal La Habra Rowla Heigh Ana Simi Valley Santa Monica Palos Verdes Estates Rancho Palos Verdes Sanjo Clarita Beverly Hills Inglewood Hawthorne Torrance Carson Weekend Night Demand bank Glendale Los Angeles Compton Long Beach Pasadena Lancaster Monterey Park Downey Palmdale Pico Rivera MADCAS SYAR Norwalk Lakewood Arcadia El Monte Whittier La Mirada West Covina La Habra Buena Park Ana 19#20Established Deep Expertise We've worked hard to make it look easy Supply Marketplace Platform Fleet Management Pricing Mapping Drivers Vehicle Service Centers Dispatch Real-Time Traffic Field Operations AVS Supply / Demand Forecasting Payment Predictive Fleet Analytics Lyft 14 Show less Pickup in 3 min + Priority Pickup Expires soon Pickup in 7 min Pickup in 11-21 min 1234 Select Lyft Loyalty & Incentives Identity EV Charging 6:12 PM $20.22 $15.22 $13.45 Schedule Bikes & Scooters Shared Rides Risk Financing Transit Enterprise Customer Support Fleet Acquisitions Rentals Delivery Data & Machine Learning AV Fleet Platform 20#21Thank you lyn 21#22Appendix CONFIDENTIAL Ո 22#23Transportation Is Durable 2002 2003 2004 2005 2006 2007 Growth 1.2% 7.0% 6.9% 3.7% 11.5% US Ground Transportation Spend ($ bns) Source: 2008 2009 2010 2011 2012 2013 2014 2015 1.7% 1.8% 3.4% 7.3% 4.0% 8.3% 8.9% 6.1% 2016 2017 2018 12.4% 12.3% 2.0% COVID Impact 2019 2020 4.8% (27.3%) US Ground Transportation Has Been Resilient During & After Recessionary Periods US Bureau of Economic Analysis 2021. US Ground Transportation includes: taxicab services, bus transportation, rail, parking, and highway tolls. 2007-09 purple text denotes a recessionary period. 23#24Reconciliations from GAAP to Non-GAAP and Trended Financial Statements 24#25Condensed Consolidated Balance Sheet ($ in millions) Assets Current assets: Cash and cash equivalents Short-term investments Prepaid expenses and other current assets Total current assets Restricted cash and cash equivalents Restricted investments Other investments Property and equipment, net Operating lease right of use assets Intangible assets, net Goodwill Other assets Total Assets Note: $ Q1 312.2 $ 1,925.1 343.7 2,581.0 183.6 940.4 10.7 308.4 260.9 61.3 182.7 Due to rounding, numbers presented may not add up precisely to the totals provided. 16.9 4,545.8 $ Q2 Fiscal 2021 484.2 $ 1,761.3 357.0 2,602.6 144.6 920.2 75.3 322.0 248.4 59.3 180.9 18.1 4,571.4 $ Q3 728.4 $ 1,653.9 511.0 2,893.3 143.8 898.4 75.3 322.5 235.2 549 180.5 20.4 4,824.3 $ Q4 457.3 $ 1,796.5 522.2 2,776.1 73.2 1,044.9 80.4 298.2 223.4 50.8 180.5 46.5 4,773.9 $ Q1 214.9 $ 2,021.7 699.0 2,935.5 67.2 880.9 70.2 313.7 213.1 48.4 180.5 58.9 Fiscal 2022 4,768.5 $ Q2 239.3 $ 1,567.7 652.4 2,459.5 102.1 1,090.8 155.7 381.6 201.2 89.2 262.2 15.3 4,757.5 $ Q3 143.7 1,639.7 689.3 2,472.7 167.2 1,004.6 26.3 372.7 190.7 81.0 261.7 23.1 4,600.2 25#26Condensed Consolidated Balance Sheet (cont.) ($ in millions) Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Equity Current liabilities: Accounts payable Insurance reserves Accrued and other current liabilities Operating lease liabilities - current Total current liabilities Operating lease liabilities Long-term debt, net of current portion Other liabilities. Total Liabilities Redeemable convertible preferred stock Stockholders' equity. Preferred stock Common stock Additional paid in capital Accumulated other comprehensive income Accumulated deficit $ Note: $ Total stockholders' equity Total liabilities, redeemable convertible preferred stock and stockholders' equity $ Q1 69.9 $ 1,058.4 1038.4 54.2 2,220.8 252.0 651.6 12.5 3,137.0 9,136.9 (0.3) (7,727.8) 1,408.9 4,545.8 Due to rounding, numbers presented may not add up precisely to the totals provided. $ $ Q2 Fiscal 2021 774 1,035.8 1,123.7 54.5 2,291.5 237.2 659.8 18.2 3,206.6 $ 9,346.0 $ (1.6) (7,979.7) 1,364.8 4,571.4 $ Q3 127.4 $ 1,011.2 1,234.7 54.81 2,428.1 223.0 662.5 54.8 3,368.4 $ 9,538.4 (3.1) (8,079.4) 1,455.9 4,824.3 $ Q4 129.5 $ 1,068.6 1,264.4 53.8 2,516.4 210.2 655.2 50.9 3,432.7 9,706.3. (2.5) (8,362.6) 1,341.2 4,773.9 $ $ Q1 95.6 $ 1,065.9 1,364.0 51.7 2,577.2 200.0 787.4 45.9 Fiscal 2022 3,610.5 $ 9,721.2 (10.2) (8,553.0) 1,158.0 4,768.5 $ Q2 100.0 1,234.9 1,348.4 48.7 2,731.9 189.0 808.0 61.4 3,790.3 9,908.5 (11.0) (8,930.3) 967.3 4,757.5 $ $ Q3 90.1 1,265.7 1,382.6 46.4 2,784.8 179.1 814.7 56.0 3,834.7 10,127.5 (9.5) (9,352.5) 765.5 4,600.2 26#27Condensed Consolidated Statement of Operations ($ in millions, except per share items) Revenue Cost and expenses Cost of revenue Operations and support Research and development Sales and marketing General and administrative Total costs and expenses Loss from operations Interest expense Other income (expense), net(¹) Loss before income taxes Provision for (benefit from) income taxes Net loss Net loss per share, basic and diluted Weighted-average shares used to compute net loss per share, basic and diluted (1) Note: $ $ $ Q1 609.0 412.0 88.9 238.2 78.6 207.6 1,025.4 (416.4) (12.6) 3.6 (425.4) 1.9 $ (427.3) $ (1.31) $ 326.2 Q2 Fiscal 2021 765.0 346.9 93.8 252.0 99.9 212.5 1,005.1 (240.1) (12.8) 1.7 (251.2) 0.7 $ (251.9) $ (0.76) $ 332.1 Q3 864.4 $ 3922 109.7 226.7 109.0 231.9 1,069.4 (205.0) (13.1) 125.0 (93.1) 6.6 (99.7) $ (0.30) $ 337.8 Q4 969.9 $ 551.2 109.9 195.0 123.9 263.6 1,243.6 (273.6) (13.1) 5.5 (281.2) 2.0 (283.2) $ (0.83) $ 342.7 Q1 875.6 $ 440.3 98.6 192.8 126.3 216.9 1074.9 (199.3) (4.5) 9.8 (194.1) 2.8 Fiscal 2022 (196.9) $ (0.57) $ 346.6 Q2 990.7 $ 650.4 105.3 201.8 140.8 265.7 1,363.9 (373.2) (5.0) 1.0 (377.2) 0.1 (377.2) $ (1.08) $ 350.5 Q3 1,053.8 570.7 119.2 227.7 133.7 292.9 1,344.2 (290.4) (5.0) (126.2) (421.6) 0.6 (422.2) (1.18) 356.5 Other income (expense), net includes a benefit from a pre-tax gain from the divestiture relating to our self-driving vehicle division, Level 5 in Q2'21 and $135.7 million in impairment charges related to the wind down of an equity investee in Q3'22. Due to rounding, numbers presented may not add up precisely to the totals provided. 27#28Condensed Consolidated Statement of Cash Flows ($ in millions) Cash flows from operating activities Net loss. Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization Stock-based compensation Amortization of premium on marketable securities Accretion of discount on marketable securities Amortization of debt discount and issuance costs Deferred income tax impact from convertible senior notes Loss (gain) on sale and disposal of assets, net Gain on divestiture Impairment charges Other Changes in operating assets and liabilities: Prepaid expenses and other assets Operating lease right-of-use assets Accounts payable Insurance reserves Accrued and other liabilities Lease liabilities Net cash provided by (used in) operating activities Note: $ $ Q1 (427.3) $ 34.4 164.2 Due to rounding, numbers presented may not add up precisely to the totals provided. 1.5 (0.4) 8.5 0.3 2.9 0.2 15.0 (11.1) 71.4 71.4 (10.5) (79.5) $ Q2 Fiscal 2021 (251.9) $ 34.6 201.0 0.9 (0.2) 8.7 0.9 (0.4) (12.8) 15.6 6.4 (22.6) 0.5 (18.2) (37.5) $ Q3 (99.7) $ 37.1 198.4 0.9 (0.3) 9.1 (5.6) (119.3) 0.4 (161.9) 17.5 49.2 (24.7) 146.3 (5.9) 41.5 $ Q4 (283.2) $ 33.3 160.9 0.8 (0.6) 9.3 9.9 0.4 (32.6) 13.3 2.6 57.5 16.0 (13.8) (26.2) $ Q1 (196.9) $ 31.8 153.7 1.1 (1.2) 0.7 (13.7) 1.8 (187.9) 13.5 (33.9) (2.7) Fiscal 2022 96.2 (14.7) (152.3) $ Q2 (377.2) $ 29.1 176.6 0.8 (2.5) 0.7 (18.1) (1.5) 63.4 13.6 (1.9) 169.0 (62.7) (14.5) (25.2) $ Q3 (422.2) 35.9 221.0 0.6 (7.1) 0.7 (6.7) 135.7 16.6 (70.1) 12.6 (9.0) 30.8 46.0 (11.0) (26.2) 28#29Condensed Consolidated Statement of Cash Flows (cont.) ($ in millions) Cash flows from investing activities Purchases of marketable securities Purchase of non-marketable securities Purchases of term deposits Proceeds from sales of marketable securities Proceeds from maturities of marketable securities Proceeds from maturities of term deposits Purchases of property and equipment and scooter fleet Cash paid for acquisitions, net of cash acquired Sale of property and equipment Proceeds from divestiture Other Net cash provided by (used in) investing activities Cash flows from financing activities Repayment of loans Proceeds from issuance of convertible senior notes Payment of debt issuance costs Purchase of capped call Proceeds from exercise of stock options and other common stock issuances Taxes paid related to net share settlement of equity awards Principal payments on finance lease obligations Other Net cash provided by (used in) financing activities Note: $ $ $ Q1 (981.7) $ (75.0) 17.1 1,169.8 36.0 (10.7) 5.7 Due to rounding, numbers presented may not add up precisely to the totals provided. 161.1 (10.0) 3.2 (7.7) (9.9) $ (24.3) $ Q2 Fiscal 2021 (745.6) $ (201.5) 64.9 789.3 276.5 (9.8) 8.8 (2.0) 180.6 (10.0) 17.2 (8.0) (8.8) $ (9.7) $ Q3 (7977) $ (165.0) 271.5 524.7 295.0 (36.2) 16.0 122.7 231.0 (14.0) 1.0 (6.1) (10.0) $ (29.1) S Q4 (1,276.8) $ (5.0) (16.5) 159.6 775.4 68.0 (22.5) 12.1 (305.7) $ (10.5) 12.5 (4.4) (6.9) (9.3) $ Q1 (661.7) $ 202.2 224.9 175.0 (30.3) 15.7 (74.2) $ (12.3) Fiscal 2022 0.1 (1.8) (8.0) (22.0) $ Q2 (600.6) $ (10.0) 155.5 488.7 205.0 (23.0) (146.3) 28.0 97.4 (14.4) 12.3 (1.7) (7.7) $ (11.6) S Q3 (1,408.3) 143.3 1,290.6 (29.1) 32.8 29.4 (25.3) (2.1) (6.0) (33.3) 29#30Condensed Consolidated Statement of Cash Flows (cont.) ($ in millions) Net cash provided by (used in) operating activities Net cash provided by (used in) investing activities Net cash provided by (used in) financing activities Effect of foreign exchange on cash, cash equivalents and restricted cash and cash equivalents Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents Cash and cash equivalents and restricted cash and cash equivalents Beginning of period End of period $ Note: $ Q1 $ (79.5) $ 161.1 (24.3) 57.4 438.5 495.9 $ Due to rounding, numbers presented may not add up precisely to the totals provided. 312.2 183.6 0.1 495.9 Q2 $ Fiscal 2021 Reconciliation of cash, cash equivalents and restricted cash and cash equivalents to the condensed consolidated balance sheets Cash and cash equivalents 484.2 Restricted cash and cash equivalents Restricted cash, incl. in prepaid expenses and other current assets Total cash, cash equivalents and restricted cash and cash equivalents (37.5) $ 180.6 (9.7) 133.3 495.9 629.2 144.6 0.5 629.2 $ $ Q3 41.5 231.0 (29.1) (0.2) 243.2 629.2 872.4 728.4 143.8 0.2 872.4 $ $ $ Q4 (26.2) $ (305.7) (9.3) (341.2) 872.4 531.2 457.3 73.2 0.7 | $ 531.2 $ Q1 (152.3) $ (74.2) (22.0) 0.1 (248.5) 531.2 282.7 214.9 Fiscal 2022 67.2 0.7 $ 282.7 $ Q2 (25.2) $ 97.4 (11.6) (0.2) 60.4 282.7 343.1 239.3 102.1 1.7 343.1 $ $ Q3 (26.2) 29.4 (33.3) (0.7) (30.7) 343.1 312.3 143.7 167.2 1.4 312.3 30#31Non-GAAP Condensed Consolidated Statement of Operations ($ in millions, except per share items) Revenue Cost of revenue Operating expenses Operations and support Research and development Sales and marketing (1) General and administrative Total costs and expenses Non-GAAP loss from operations Interest expense (1) Non-GAAP other income (expense), net Non-GAAP income (loss) before income taxes Provision for (benefit from) income taxes Adjusted net income (loss) Adjusted net income (loss) per share, basic Weighted-average shares used to compute adjusted net income (loss) per share, basic Note: $ $ $ Q1 609.0 $ 271.7 83.4 132.0 69.5 155.5 712.2 (103.2) (12.6) 3.6 (112.2) 1.9 (114.1) $ (0.35) $ 326.2 Q2 Fiscal 2021 765.0 313.0 86.2 130.2 88.6 153.2 771.2 $ (6.2) (12.8) 1.7 (17.3) 0.7 (18.0) $ (0.05) $ 332.1 Q3 864.4 350.8 103.3 109.4 99.1 167.1 829.7 34.7 (13.1) 2.8 24.4 6.6 17.8 0.05 337.8 $ $ $ Q4 969.9 391.1 103.7 100.3 112.9 216.7 924.6 45.3 (13.1) 1.9 34.1 2.0 32.1 0.09 342.7 $ $ $ Q1 875.6 373.1 92.4 102.7 114.8 166.6 849.6 25.9 (4.5) 6.0 27.4 2.8 24.6 0.07 346.6 Fiscal 2022 $ $ $ Q2 990.7 400.3 98.6 105.7 128.3 203.7 936.5 54.3 (5.0) (2.9) 46.4 0.1 46.4 0.13 350.5 $ $ $ Q3 1,053.8 463.4 111.6 107.7 118.7 216.9 1,018.4 35.4 (5.0) 7.0 37.4 0.6 36.7 0.10 356.5 Non-GAAP other income (expense), net excludes (i) the pre-tax gain from the divestiture relating to our self-driving vehicle division, Level 5 in Q2'21, (ii) sublease income, which is presented as a contra-expense to the related lease rent expense within operating expenses for non-GAAP purposes, and (iii) impairment charges related to the wind down of an equity investee in Q3'22. Due to rounding, numbers presented may not add up precisely to the totals provided. 31#32GAAP to Non-GAAP Reconciliations ($ in millions) Reconciliation of Contribution Revenue Gross Profit Less: cost of revenue Gross Profit Margin Adjusted to exclude the following (as related to cost of revenue): Amortization of intangible assets Stock-based compensation expense (1) Restructuring charges Contribution (Non-GAAP) Contribution Margin (Non-GAAP) (2) Payroll tax expense related to stock-based compensation Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods Net amount from claims ceded under the Reinsurance Agreement Transaction costs rel. to certain legacy auto insurance liabilities (2) Sublease income Note: (1) $ $ Q1 609.0 (412.0) 196.9 32.3% 2.8 8.4 1.1 128.0 337.3 55.4% $ $ $ Q2 Fiscal 2021 765.0 $ (346.9) 418.1 54.7% 3.2 10.2 0.3 20.2 452.0 59.1% $ $ Q3 864.4 $ (392.2) 472.2 54.6% 2.8 10.2 0.2 28.2 513.6 59.4% $ $ Q4 969.9 (551.2) 418.8 43.2% 2.3 10.7 0.2 122.3 24.6 578.8 59.7% $ $ $ Q1 875.6 (440.3) 435.3 49.7% 1.2 9.9 0.8 55.3 502.5 57.4% Fiscal 2022 $ $ $ Q2 990.7 (650.4) 340.4 $ 34.4% 1.2 10.1 0.2 275.4 (36.8) 590.5 $ 59.6% $ Q3 1,053.8 (570.7) 483.1 45.8% 1.2 13.0 0.2 92.9 590.4 56.0% Reflects the net amount recognized on the statement of operations associated with claims ceded under the Reinsurance agreement, including any losses related to the deferral of gains on the statement of operations and any benefit from the amortization of the deferred gain in the same period. For transparency, to help investors understand the ultimate economic benefit of the Reinsurance Agreement, we have broken out "Net amount of claims ceded under the Reinsurance Agreement," which would otherwise have been captured in "Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods." For the GAAP income statement, sublease income is included as other income while the related lease rent expense is included in its respective operating expense line item. For non-GAAP purposes, sublease income is presented as a contra-expense to the related lease rent expense. There has been no sublease income allocated to cost of revenue through September 30, 2022. Due to rounding, numbers presented may not add up precisely to the totals provided. 32#33GAAP to Non-GAAP Reconciliations (cont.) ($ in millions) Non-GAAP Operating Expenses GAAP Operations and Support Amortization of intangible assets Stock-based compensation expense (1) Payroll tax expense related to stock-based compensation (1) Sublease income Restructuring charges Non-GAAP Operations and Support GAAP Research and Development Amortization of intangible assets Stock-based compensation expense Payroll tax expense related to stock-based compensation (1) Sublease income Restructuring charges Non-GAAP Research and Development Note: $ $ $ Q1 (88.9) $ 4.9 0.6 (83.4) $ (238.2) $ 0.2 95.6 10.4 (132.0) $ Q2 Fiscal 2021 (93.8) $ 7.2 0.4 (86.2) $ (252.0) $ 0.2 117.9 3.8 (130.2) $ Q3 (109.7) $ 6.2 0.2 (103.3) $ (226.7) $ 111.5 2.8 2.9 (109.4) $ Q4 (109.9) $ 5.9 0.2 0.1 (103.7) $ (195.0) $ 0.1 89.4 1.7 3.5 (100.3) $ Q1 (98.6) $ 5.6 0.4 0.2 (92.4) $ Fiscal 2022 (192.8) $ 80.8 5.7 3.6 (102.7) $ Q2 (105.3) $ 6.3 0.1 0.3 (98.6) $ (201.8) $ 91.1 1.4 3.6 (105.7) $ Q3 (119.2) 7.1 02 0.3 (111.6) (227.7) 116.2 1.5 2.3 (107.7) For the GAAP income statement, sublease income is included as other income while the related lease rent expense is included in its respective operating expense line item. For non-GAAP purposes, sublease income is presented as a contra-expense to the related lease rent expense. Due to rounding, numbers presented may not add up precisely to the totals provided. 33#34GAAP to Non-GAAP Reconciliations (cont.) ($ in millions) Non-GAAP Operating Expenses GAAP Sales and Marketing Amortization of intangible assets Stock-based compensation expense (1) Payroll tax expense related to stock-based compensation (1) Sublease income Restructuring charges Non-GAAP Sales and Marketing GAAP General and Administrative Amortization of intangible assets Stock-based compensation expense Payroll tax expense related to stock-based compensation Sublease income (1) Costs related to acquisitions and divestitures Transaction costs rel. to certain legacy auto insurance liabilities Restructuring charges Non-GAAP General and Administrative Note: $ $ $ Q1 (78.6) $ 0.3 8.0 0.8 (69.5) $ (207.6) $ 1.2 47.3 3.6 (155.5) $ Q2 Fiscal 2021 (99.9) $ 0.3 10.5 0.5 (88.6) $ (212.5) $ 1.2 55.3 1.8 0.9 0.2 (153.2) $ Q3 (109.0) $ 0.3 9.3 0.2 (99.1) $ (231.9) $ 1.6 61.3 1.3 0.6 (167.1) $ Q4 (123.9) $ 0.3 10.5 0.2 (112.9) $ (263.6) $ 1.5 44.5 1.0 (216.7) $ Q1 (126.3) $ 0.3 10.6 0.6 (114.8) $ Fiscal 2022 (216.9) $ 1.5 46.9 1.9 (166.6) $ Q2 (140.8) $ 0.3 12.0 0.2 (128.3) $ (265.7) $ 3.0 57.1 0.6 - 1.4 (203.7) $ Q3 (133.7) 0.3 14.4 0.3 (118.7) (292.9) 3.8 70.2 1.0 0.9 (216.9) For the GAAP income statement, sublease income is included as other income while the related lease rent expense is included in its respective operating expense line item. For non-GAAP purposes, sublease income is presented as a contra-expense to the related lease rent expense. There has been no sublease income allocated to sales and marketing or general and administrative expenses through September 30, 2022. Due to rounding, numbers presented may not add up precisely to the totals provided. 34#35GAAP to Non-GAAP Reconciliations (cont.) ($ in millions) GAAP Total Costs and Expenses Amortization of intangible assets Stock-based compensation expense (1) (2) Payroll tax expense related to stock-based compensation Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods Net amount from claims ceded under the Reinsurance Agreement (2) Sublease income Costs related to acquisitions and divestitures Transaction costs rel. to certain legacy auto insurance liabilities Restructuring charges Non-GAAP Total Costs and Expenses Note: (1) $ $ Q1 (1,025.4) $ 4.5 164.2 16.5 128.0 (712.2) $ Q2 Fiscal 2021 (1,005.1) $ 4.8 201.0 6.8 0.9 20.4 (771.2) $ Q3 (1,069.4) $ 4.7 198.4 4.9 28.2 29 0.6 (829.7) $ Q4 (1,243.6) $ 4.1 160.9 3.3 122.3 24.6 3.7 (924.6) $ Q1 (1,074.9) $ 3.1 153.7 9.5 55.3 Fiscal 2022 3.7 (849.6) $ Q2 (1,363.9) $ 4.5 176.6 2.5 275.4 (36.8) 3.8 1.4 (936.5) $ Q3 (1,344.2) 5.4 221.0 3.1 92.9 26 0.9 (1,018.4) Reflects the net amount recognized on the statement of operations associated with claims ceded under the Reinsurance agreement, including any losses related to the deferral of gains on the statement of operations and any benefit from the amortization of the deferred gain in the same period. For transparency, to help investors understand the ultimate economic benefit of the Reinsurance Agreement, we have broken out "Net amount of claims ceded under the Reinsurance Agreement," which would otherwise have been captured in "Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods." For the GAAP income statement, sublease income is included as other income while the related lease rent expense is included in its respective operating expense line item. For non-GAAP purposes, sublease income is presented as a contra-expense to the related lease rent expense. Due to rounding, numbers presented may not add up precisely to the totals provided. 35#36GAAP to Non-GAAP Reconciliations (cont.) ($ in millions) GAAP Loss from Operations Amortization of intangible assets Stock-based compensation expense (1) (2) Payroll tax expense related to stock-based compensation Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods Net amount from claims ceded under the Reinsurance Agreement (1) (2) Sublease income Costs related to acquisitions and divestitures Transaction costs rel. to certain legacy auto insurance liabilities Restructuring charges Non-GAAP Loss from Operations Note: $ $ Q1 (416.4) $ 4.5 164.2 16.5 128.0 (103.2) $ Q2 Fiscal 2021 (2401) $ 4.8 201.0 6.8 0.9 20.4 (6.2) $ Q3 (205.0) $ 4.7 198.4 4.9 28.2 2.9 0.6 34.7 $ Q4 (273.6) $ 4.1 160.9 3.3 122. 24.6 3.7 45.3 $ Q1 (199.3) $ 3.1 153.7 9.5 55.3 Fiscal 2022 3.7 25.9 $ Q2 (373.2) $ 4.5 176.6 2.5 275.4 (36.8) 3.8 1.4 54.3 $ Q3 (290.4) 5.4 221.0 3.1 92.9 2.6 0.9 35.4 Reflects the net amount recognized on the statement of operations associated with claims ceded under the Reinsurance agreement, including any losses related to the deferral of gains on the statement of operations and any benefit from the amortization of the deferred gain in the same period. For transparency, to help investors understand the ultimate economic benefit of the Reinsurance Agreement, we have broken out "Net amount of claims ceded under the Reinsurance Agreement," which would otherwise have been captured in "Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods." For the GAAP income statement, sublease income is included as other income while the related lease rent expense is included in its respective operating expense line item. For non-GAAP purposes, sublease income is presented as a contra-expense to the related lease rent expense. Due to rounding, numbers presented may not add up precisely to the totals provided. 36#37GAAP to Non-GAAP Reconciliations (cont.) ($ in millions, except per share items) Reconciliation of Net Loss to Non-GAAP Adjusted Net Income (Loss) GAAP Net Loss Amortization of intangible assets Stock-based compensation expense Payroll tax expense related to stock-based compensation Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods (1) Net amount from claims ceded under the Reinsurance Agreement (2) Sublease income Costs related to acquisitions and divestitures Transaction costs rel. to certain legacy auto insurance liabilities Restructuring charges Impairment charges (3) Adjusted Net Income (Loss) Adjusted net income (loss) per share, basic. Weighted-average shares used to compute adjusted net income (loss) per share, basic (1) (2) (3) Note: $ $ $ Q1 (427.3) $ 4.5 164.2 16.5 128.0 (114.1) $ (0.35) $ 326.2 Q2 Fiscal 2021 (251.9) $ 4.8 201.0 6.8 0.9 20.4 (18.0) $ (0.05) $ 332.1 Q3 (99.7) $ 4.7 198.4 4.9 28.2 (118.7) 17.8 0.05 337.8 $ $ Q4 (283.2) $ 4.1 160.9 3.3 122.3 24.6 32.1 $ $ 0.09 342.7 Q1 (196.9) $ 3.1 153.7 9.5 55.3 24.6 0.07 Fiscal 2022 346.6 $ $ Q2 (377.2) $ 4.5 176.6 2.5 275.4 (36.8) 1.4 46.4 $ 0.13 $ 350.5 Q3 (422.2) In the third quarter of 2022, we recorded $135.7 million in impairment charges related to the wind down of an equity investee, which included the impairments of a non-marketable equity investment and other assets. Due to rounding, numbers presented may not add up precisely to the totals provided. 5.4 221.0 3.1 92.9 0.9 135.7 36.7 0.10 356.5 Reflects the net amount recognized on the statement of operations associated with claims ceded under the Reinsurance agreement, including any losses related to the deferral of gains on the statement of operations and any benefit from the amortization of the deferred gain in the same period. For transparency, to help investors understand the ultimate economic benefit of the Reinsurance Agreement, we have broken out "Net amount of claims ceded under the Reinsurance Agreement," which would otherwise have been captured in "Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods." For the GAAP income statement, sublease income is included as other income while the related lease rent expense is included in its respective operating expense line item. For non-GAAP purposes, sublease income is presented as a contra-expense to the related lease rent expense. The non-GAAP presentation of sublease income as a contra-expense has no impact to Adjusted Net Income (Loss). 37#38GAAP to Non-GAAP Reconciliations (cont.) ($ in millions) Reconciliation of Net Loss to Non-GAAP Adjusted EBITDA GAAP Net Loss (1) (2) Adjusted for the following Interest expense (1) Other (income) expense, net Provision for (benefit from) income taxes Depreciation and amortization Stock-based compensation expense (3) Payroll tax expense related to stock-based compensation Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods Net amount from claims ceded under the Reinsurance Agreement Sublease income (3) Adjusted EBITDA Adjusted EBITDA Margin Costs related to acquisitions and divestitures Transaction costs rel. to certain legacy auto insurance liabilities Restructuring charges Note: (2) $ Q1 (427.3) $ 12.9 (3.6) 1.9 34.4 164.2 16.5 128.0 (73.0) $ (12.0%) Q2 Fiscal 2021 (251.9) $ 13.1 (1.7) 0.7 34.5 201.0 6.8 0.9 20.4 23.8 3.1% $ Q3 (99.7) $ 13.4 (125.0) 6.6 37.0 198.4 49 28.2 2.9 0.6 67.3 7.8% $ Q4 (283.2) $ 13.3 (5.5) 2.0 33.3 160.9 3.3 122.3 24.6 3.7 74.7 7.7% $ Q1 (196.9) $ 4.7 (9.8) 2.8 31.8 153.7 9.5 55.3 3.7 54.8 Fiscal 2022 6.3% $ Q2 (377.2) $ 5.2 (1.0) 0.1 29.1 176.6 2.5 275.4 (36.8) 3.8 1.4 79.1 8.0% $ Q3 (422.2) 5.3 126.2 0.6 35.9 2210 3.1 92.9 26 0.9 66.2 6.3% Other income (expense), net includes (i) a benefit from a pre-tax gain from the divestiture relating to our self-driving vehicle division, Level 5 in Q2'21 and (ii) $135.7 million in impairment charges related to the wind down of an equity investee in Q3'22, which included the impairments of a non-marketable equity investment and other assets. Reflects the net amount recognized on the statement of operations associated with claims ceded under the Reinsurance agreement, including any losses related to the deferral of gains on the statement of operations and any benefit from the amortization of the deferred gain in the same period. For transparency, to help investors understand the ultimate economic benefit of the Reinsurance Agreement, we have broken out "Net amount of claims ceded under the Reinsurance Agreement," which would otherwise have been captured in "Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods." For the GAAP income statement, sublease income is included as other income while the related lease rent expense is included in its respective operating expense line item. For non-GAAP purposes, sublease income is presented as a contra-expense to the related lease rent expense. Due to rounding, numbers presented may not add up precisely to the totals provided. 38