#1FEBRUARY 9, 2023 Q4 Fiscal 2022 Earnings Supplemental Data lyn ԱՂ#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 first quarter of 2023 and fiscal year 2023, expectations regarding profitability, cost reductions, revenue, stock-based compensation, Contribution Margin and Adjusted EBITDA, 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 macroeconomic conditions as well as 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, and our upcoming Annual Report on Form 10-K for the year ended December 31, 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 and non-GAAP operating expenses. 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. 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 presentation. 2#3Financial Highlights 3#4Key Highlights Q4'22 Adjusted EBITDA beat the top-end of guidance excluding the action taken to strengthen our insurance reserves¹ Revenue was the highest in our company's history and exceeded the top-end of guidance² Revenue per Active Rider was a new record high Fourth quarter results beat our guidance and reflect a combination of strong rideshare demand, improving supply and good early progress on our cost reduction efforts. (1) ● (2) Note: Revenue of $1.175 billion was the highest in Lyft's history and exceeded the top-end of guidance, up 21% versus Q4 of 2021² Active Riders of 20.4 million were up slightly versus Q3'22 and 9% versus Q4'21, reaching the highest level in nearly three years. The sequential increase in rideshare riders more than offset reduced use of our bikes and scooters in the colder weather Revenue per Active Rider of $57.72 reached a new record, up 11% from Q3'22 and from Q4'21 Adjusted EBITDA of ~$127 million beat the top-end of guidance excluding the action we took to strengthen our insurance reserves¹ Adjusted EBITDA loss for Q4'22 was $248.3 million. As shown above, excludes the $375 million impact from the increase to insurance reserves and accrued liabilities and the change to Lyft's Adjusted EBITDA definition from the fourth quarter of 2022. This amount includes the $225 million which would have been previously adjusted for in Adjusted EBITDA by the exclusion of "Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods" and $150 million related to insurance costs that are generally not required under transportation network company regulations included in general and administrative expenses on the consolidated statement of operations. Company outlook for Q4'22 Revenue of $1.145 - 1.165 billion was provided during the Q3'22 earnings call on November 7, 2022. Certain figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. 4#5Revenue ($ in millions) Note: Q4'22 Revenue vs. Outlook and Q4'21 $970 Actual Q4'21 $1,145 - $1,165 Outlook Q4'22 $1,175 Actual Q4'22 Company outlook for Q4'22 Revenue of $1,145 - 1,165 million was provided during the Q3'22 earnings call on November 7, 2022. $956 Q1 '20 $339 $500 $570 Q2 '20 Q3 '20 Q4 '20 Revenue: Q1'20 to Q4'22 $609 Q1 '21 $765 Q2 '21 Q4'22 revenue was the highest in Lyft's history $1,175 $864 $970 Q3 '21 Q4 '21 $876 $991 $1,054 Q1'22 Q2 '22 Q3 '22 Q4 '22 5#6Rider Recovery 21.2 8.7 Note: Active Riders (in millions): Q1'20 to Q4'22 12.5 12.6 13.5 17.1 18.9 18.7 17.8 19.9 20.3 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1′22 Q2'22 Q3'22 Q4'22 20.4 Active Riders in Q4'22 grew 9% year-over-year to 20.4 million from 18.7 million in Q4'21. $45.06 Revenue per Active Rider: Q1'20 to Q4'22 Note: $39.06 $45.40 $45.13 $39.94 $44.63 $45.63 $51.79 $49.18 $51.88 $49.89 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 $57.72 Revenue per Active Rider in Q4'22 grew 11% quarter-over-quarter to $57.72 from $51.88 in Q3'22 and 11% year-over-year from $51.79 in Q4'21. 6#7Adjusted EBITDA ($ in millions) (1) Note: Q4'22 Adj EBITDA vs. Outlook $80 - $100 Outlook Q4'22 $127 (excluding $375mn¹) ($248) Actual Q4'22 Recast Adj EBITDA Including Reserve Adjustments: Q1'20 to Q4'22 ($144) ($240) ($278) ($201) $24 $67 ($48) $55 ($196) ($27) $127 ($248) ($298) Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 Adjusted EBITDA was $127mn versus guidance of $80-100mn excluding the action we took to strengthen our insurance reserves¹ Excludes the $375 million impact from the increase to insurance reserves and accrued liabilities and the change to Lyft's Adjusted EBITDA definition from the fourth quarter of 2022. This amount includes the $225 million which would have been previously adjusted for in Adjusted EBITDA by the exclusion of "Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods" and $150 million related to insurance costs that are generally not required under transportation network company regulations included in general and administrative expenses on the consolidated statement of operations. The outlook of $80-100 million was provided during the Q3'22 earnings call on November 7, 2022. The figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. 7#8Contribution ($ in millions) (1) Note: Q4'22 Contribution Margin vs. Outlook 51.5% Outlook Q4'22 54.4% (excluding $225mn¹) 35.3% Actual Q4'22 Recast Contribution Including Reserve Adjustments: Q1'20 to Q4'22 $489 $100 $248 $188 $209 $514 $452 $503 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 $498 $457 $315 libli $640 $415 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 Contribution was $640mn with a Contribution Margin of 54.4% versus guidance of 51.5% excluding the action we took to strengthen our insurance reserves¹ Excludes the $225 million impact from the increase to insurance reserves and the change to Lyft's Contribution and Contribution Margin definition from the fourth quarter of 2022. This amount would have been previously adjusted for in Contribution and Contribution Margin by the exclusion of "Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods." Company outlook for Q4'22 Contribution Margin of 51.5% was provided during the Q3'22 earnings call on November 7, 2022. 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. 8#9Business Highlights 9#10Lyft Maps More than 60% of rideshare rides are powered by our in-house mapping and navigation, which is up from less than 1% a year ago • First to market to integrate our driver app with CarPlay and Android Auto, which has been incredibly well received by the driver community Almost two-thirds of drivers who try Lyft Maps through CarPlay stick with it as their primary navigation experience n Fell S 651 Webster St MEN 9:27 AM HONINS 4 min. 1.2 mi Pick up Stephanie 9:27 ← 0.2 mi Hayes St Octavia St Fell Street 31 AM min 1.2 mil K Birch Street II Linden Street Fell Street Grove Street Hayes St Grove Street Gough St Hayes Street Linden Street Hickory Street Fell Street 25 { 10#11Driver Experience • Upfront information is now available on 100% of rideshare rides on our network New "Stay Nearby" filter gives drivers the ability to stay in a particular region Innovations like these can have a significant impact on drivers' satisfaction and engagement hoor Westborough Bade San Bruno $19.85 Lyft Incl. $3.50 bonus Brisbane 5 min 0.2 mi 45 min 32 mi Lomita Park Airport drop-off 101 Millbrae Accept 101 X ★ 5.0 oor 4:30 Colma Westborough Baden 5 mil San Bruno Brisbane 101 Lomita Park Millbrae Stay within area We'll search for rides with pickup and drop- off in the area you choose. The wider the area, the higher your chance of rides. Set filter 101 20 mi 30 mi 11#12Lyft + Chase • In Q4 we expanded our relationship with Chase, giving their millions of cardmembers access to Lyft Pink and to accelerated points or cash back when they use Lyft through 2024 With this partnership, we can introduce millions of people to Pink, increase our touchpoints with business travelers and capture more high-value rides 4:30 lypink SAPPHIRE RESERVE Activate your 2 free years of Lyft Pink All Access Get all the benefits of membership ($199/yr value) while still earning 10x total points on rides. Must activate before Dec 31, 2024. Your membership includes: Free Priority Pickup upgrades Member-exclusive pricing with 10% off all Lux rides ($) Relaxed ride cancellations Get started 12#13Change to our Non-GAAP Financial Measures 13#14Change to our Non-GAAP Financial Measures What's new? Non-GAAP metrics now include reserve adjustments for prior periods In December the SEC updated its guidance related to non-GAAP measures, which applies to all public companies. Subsequent to this change and following consultation with the SEC, we have aligned our disclosures. We've already disclosed when we've had reserve adjustments for prior periods and the amounts - these disclosures are not changing. What is changing is we are now including these amounts in our non-GAAP calculations. And we have presented past periods on a comparable basis (see table). We strengthened our insurance reserves by $375 million in Q4 This is at the high end of management's estimate of our potential exposure to past claims in light of past volatility. We believe this action will also have the benefit of reducing the risk of insurance-related volatility going forward. Reserve Adjustments CONTRIBUTION Recast Historical Non-GAAP Metrics Previously Reported Contribution Previously Reported Contribution Margin Recast Contribution Recast Contribution Margin ADJUSTED NET LOSS Previously Reported Adj Net Loss Previously Reported Adj Net Loss Margin Recast Adj Net Loss Recast Adj Net Loss Margin ADJUSTED EBITDA Previously Reported Adj EBITDA Previously Reported Adj EBITDA Margin Recast Adj EBITDA Recast Adj EBITDA Margin Note: Fiscal 2019 Full Year $ 270.3 $1,812.5 50.1% $ 1,542.2 42.6% $ (651.8) (18.0%) $ (922.1) (25.5%) $ (678.9) (18.8%) $ (949.2) (26.3%) Fiscal 2020 Full Year $ 204.1 $1,229.5 52.0% $ 1,025.4 43.4% $ (828.9) (35.1%) $ (1,033.0) (43.7%) $ (755.2) (31.9%) $ (959.3) (40.6%) Fiscal 2021 Full Year $250.3 $1,881.6 58.6% $ 1,631.3 50.8% $ (82.2) (2.6%) $ (332.6) (10.4%) $ 92.9 2.9% $ (157.5) (4.9%) Fiscal 2022 Q1-Q3 $368.3 $1,683.4 57.6% $ 1,315.1 45.0% $ 107.7 3.7% $ (260.6) (8.9%) $ 200.1 6.9% $ (168.2) (5.8%) The Fiscal 2022 Q1-Q3 column is solely presented to show the impact of the change in insurance reserve adjustments and is additive of the quarterly columns presented in the appendix. 14#15Reconciliations from GAAP to Non-GAAP and Trended Financial Statements 15#16Condensed 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 2,5810 183.6 940.4 10.7 308.4 260.9 61.3 182.7 16.9 4,545.8 $ Due to rounding, numbers presented may not add up precisely to the totals provided. 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 54.9 180.5 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 4,768.5 $ $ Q2 Fiscal 2022 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 1004.6 26.3 372.7 190.7 81.0 261.7 23.1 4,600.2 $ $ Q4 281.1 1,515.7 786.1 2,582.9 109.4 1,027.5 26.4 313.4 135.2 76.2 261.6 23.9 4,556.4 16#17Condensed Consolidated Balance Sheet (cont.) ($ in millions) Liabilities 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 Stockholders' equity Preferred stock Common stock Additional paid in capital Accumulated other comprehensive income Accumulated deficit Total stockholders' equity Total liabilities and stockholders' equity Note: $ $ $ Q1 69.9 1,058.4 1,038.4 54.2 2,220.8 252.0 651.6 12.5 3,137.0 9,136.9 (0.3) (7,727.8) 1408.9 4,545.8 $ $ $ Due to rounding, numbers presented may not add up precisely to the totals provided. Q2 Fiscal 2021 77.4 $ 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 54.8 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 3,610.5 9,721.2 (10.2) (8,553.0) 1,158.0 4,768.5 $ $ $ Q2 Fiscal 2022 100.0 1234.9 1348.4 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 $ $ Q4 107.8 1,417.3 1,561.6 45.8 3,132.6 176.4 803.2 55.6 4,167.8 10,335.0 (5.8) (9.940.6) 388.7 4,556.4 17#18Condensed 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 (1) Other income (expense), net 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 $ 392.2 109.7 226.7 109.0 231.9 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 1,074.9 (199.3) (4.5) 9.8 (194.1) 2.8 $ (196.9) $ (0.57) $ 346.6 Q2 Fiscal 2022 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 Q4 1,175.0 774.4 120.7 234.6 130.7 510.6 1,771.0 (596.0) (5.2) 15.5 (585.8) 2.4 (588.1) (1.61) 365.1 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 $135.7 million in impairment charges related to the wind down of an equity investee in Q3'22. Due to rounding, numbers presented may not add up precisely to the totals provided. 18#19Condensed Consolidated Statement of Cash Flows ($ 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 of non-marketable equity security 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 1.5 (0.4) 8.5 0.3 2.9 0.2 15.0 (11.1) 71.4 71.4 (10.5) (79.5) $ Due to rounding, numbers presented may not add up precisely to the totals provided. 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) 96.2 (14.7) (152.3) $ Q2 Fiscal 2022 (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 2210 0.6 (7.1) 0.7 (6.7) 135.7 16.6 (70.1) 12.6 (9.0) 30.8 46.0 (110) (26.2) $ Q4 (588.1) 58.0 199.4 0.4 (12.5) 0.7 (22.1) 6.7 (81.3) 56.6 17.6 151.6 182.8 (3.5) (33.6) 19#20Condensed 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 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 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 - 161.1 (10.0) 3.2 $ (7.7) (9.9) (24.3) S Due to rounding, numbers presented may not add up precisely to the totals provided. 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 (797.7) $ (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) $ 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) 0.1 $ (1.8) (8.0) (22.0) $ Q2 Fiscal 2022 (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) $ Q3 (1,408.3) $ 143.3 1,290.6 (29.1) 32.8 29.4 (25.3) $ (2.1) (6.0) (33.3) $ Q4 (1,378.9) (3.5) 175.7 1,304.4 15.0 (32.6) 53.3 133.5 (15.7) 9.3 (1.1) (13.1) (20.6) 20#21Condensed 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 $ 183.6 0.1 495.9 $ Q2 Due to rounding, numbers presented may not add up precisely to the totals provided. Fiscal 2021 Reconciliation of cash, cash equivalents and restricted cash and cash equivalents to the condensed consolidated balance sheets Cash and cash equivalents 312.2 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 $ 484.2 144.6 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) (220) 0.1 (248.5) 531.2 282.7 214.9 67.2 0.7 282.7 $ $ Q2 Fiscal 2022 (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 $ $ Q4 (33.6) 133.5 (20.6) 0.1 79.5 312.3 391.8 281.1 109.4 1.4 391.8 21#22Non-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 General and administrative Total costs and expenses Non-GAAP loss from operations (1) Interest expense Non-GAAP other income (expense), net (¹) 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 (399.7) (83.4) (132.0) (69.5) (155.5) (840.2) (231.2) (12.6) 3.6 (240.2) 1.9 $ (242.1) $ (0.74) $ 326.2 Q2 Fiscal 2021 765.0 $ (313.1) (86.2) (130.1) (88.6) (153.1) (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) (109.5) (99.2) (167.1) (829.7) 34.7 (13.1) 2.8 24.4 6.6 17.8 0.05 337.8 $ $ $ Q4 969.9 (513.4) (103.7) (100.3) (112.9) (216.6) (1,046.9) (77.0) (13.1) 1.9 (88.2) 2.0 $ (90.2) $ (0.26) $ 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 $ $ $ Q2 Fiscal 2022 990.7 (675.7) $ (98.6) (105.7) (128.3) (203.7) (1,211.9) (221.2) (5.0) (2.9) (229.1) 0.1 (229.1) $ (0.65) $ 350.5 Q3 1,053.8 $ (556.3) (111.6) (107.7) (118.7) (216.9) (1,111.3) (57.5) (5.0) 7.0 (55.5) 0.6 (56.1) $ (0.16) $ 356.5 Q4 1,175.0 (760.3) (95.1) (103.5) (114.4) (379.0) (1,452.2) (277.2) (5.2) 14.0 (268.4) 2.4 (270.8) (0.74) 365.1 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. 22#23GAAP to Non-GAAP Reconciliations ($ in millions) Reconciliation of Contribution Revenue Less: cost of revenue Gross Profit Gross Profit Margin Adjusted to exclude the following (as related to cost of revenue): Amortization of intangible assets Stock-based compensation expense Payroll tax expense related to stock-based compensation Net amount from claims ceded under the Reinsurance Agreement Transaction costs rel. to certain legacy auto insurance liabilities Sublease income (2) Restructuring charges Non-GAAP Cost of Revenue (1) Non-GAAP Cost of Revenue as % of Revenue Contribution (Non-GAAP) Contribution Margin (Non-GAAP) (3) (2) (3) Note: (1) $ $ $ $ Q1 609.0 (412.0) 196.9 32.3% 2.8 8.4 1.1 $ 34.4% $ (399.7) $ (65.6%) 209.3 $ Q2 Fiscal 2021 765.0 $ (346.9) 418.1 54.7% 3.2 10.2 0.3 20,2 $ (313.1) $ (40.9%) 452.0 59.1% $ Q3 864.4 (392.2) 472.2 54.6% 2.8 10.2 0.2 28.2 $ 59.4% $ (350.8) $ (40.6%) 513.6 $ Q4 969.9 $ (551.2) 418.8 43.2% 2.3 10.7 0.2 24.6 (513.4) $ (52.9%) 456.5 $ 47.1% $ Q1 875.6 $ (440.3) 435.3 49.7% 1.2 9.9 0.8 55.3 $ (373.1) $ (42.6%) 502.5 57.4% $ Q2 Fiscal 2022 990.7 (650.4) 340.4 34.4% 1.2 10.1 0.2 (36.8) $ 31.8% $ (675.7) $ (68.2%) 315.1 $ Q3 1,053.8 (570.7) 483.1 45.8% 1.2 13.0 0.2 $ 47.2% $ (556.3) $ (52.8%) 497.5 $ Q4 1,175.0 (774.4) 400.6 34.1% 1.2 11.1 0.1 1.6 (760.3) (64.7%) 414.7 35.3% 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." 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 December 31, 2022. Included in restructuring charges is $1.6 million of severance and other employee costs. In addition, restructuring-related charges of $0.2 million for stock-based compensation and the payroll tax expense related to stock-based compensation are included on their respective line items. Due to rounding, numbers presented may not add up precisely to the totals provided. 23#24GAAP to Non-GAAP Reconciliations (cont.) ($ 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 Sublease income (¹) 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 (130.1) $ Q3 (109.7) $ 6.2 0.2 (103.3) $ (226.7) $ 111.5 2.8 2.9 (109.5) $ 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) $ (192.8) $ 80.8 5.7 3.6 (102.7) $ Q2 Fiscal 2022 (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 0.2 0.3 (111.6) $ (227.7) $ 116.2 1.5 2.3 (107.7) $ Q4 (120.7) 6.4 0.1 0.4 18.7 (95.1) (234.6) 0.1 103.9 1.0 1.1 25.0 (103.5) 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. 24#25GAAP 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 Sublease income (1) 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 (153.1) $ Q3 (109.0) $ 0.3 9.3 0.2 (99.2) $ (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 (216.6) $ Q1 (126.3) $ 0.3 10.6 0.6 (114.8) S (216.9) $ 1.5 46.9 1.9 (166.6) $ Q2 Fiscal 2022 (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) S (292.9) $ 3.8 70.2 1.0 0.9 (216.9) $ Q4 (130.7) 0.2 12.8 0.1 3.1 (114.4) (510.6) 3.9 65.1 0.6 62.1 (379.0) 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 December 31, 2022. Due to rounding, numbers presented may not add up precisely to the totals provided. 25#26GAAP to Non-GAAP Reconciliations (cont.) ($ in millions) GAAP Total Costs and Expenses Amortization of intangible assets Stock-based compensation expense GAAP Loss from Operations Amortization of intangible assets Stock-based compensation expense (1) Payroll tax expense related to stock-based compensation Net amount from claims ceded under the Reinsurance Agreement (¹) Sublease income (2) Costs related to acquisitions and divestitures Transaction costs rel. to certain legacy auto insurance liabilities Restructuring charges Non-GAAP Total Costs and Expenses Payroll tax expense related to stock-based compensation Net amount from claims ceded under the Reinsurance Agreement (1) Sublease income (2) Costs related to acquisitions and divestitures Transaction costs rel. to certain legacy auto insurance liabilities Restructuring charges Non-GAAP Loss from Operations (2) Note: $ Q1 (1,025.4) $ 4.5 164.2 16.5 (840.2) $ (416.4) $ 4.5 164.2 16.5 (231.2) $ Q2 Fiscal 2021 (1,005.1) $ 4.8 201.0 6.8 0.9 20.4 (771.2) $ (240.1) $ 4.8 201.0 6.8 0.9 20.4 (6.2) $ Q3 (1,069.4) $ 4.7 198.4 4.9 28.2 2.9 0.6 (829.7) $ (205.0) $ 4.7 198.4 4.9 28.2 2.9 0.6 34.7 $ Q4 (1,243.6) $ 4.1 160.9 3.3 24.6 3.7 (1,046.9) $ (273.6) $ 4.1 160.9 3.3 24.6 3.7 (77.0) $ Q1 (1,074.9) $ 3.1 153.7 9.5 55.3 3.7 (849.6) $ (199.3) $ 3.1 153.7 9.5 55.3 3.7 25.9 $ Q2 Fiscal 2022 (1,363.9) $ 4.5 176.6 2.5 (36.8) 3.8 1.4 (1,211.9) $ (373.2) $ 4.5 176.6 2.5 (36.8) 3.8 14 (221.2) $ Q3 (1,344.2) $ 5.4 221.0 3.1 2.6 0.9 (1,111.3) $ (290.4) $ 5.4 221.0 3.1 2.6 0.9 (57.5) $ Q4 (1,771.0) 5.5 199.4 1.9 1.5 110.5 (1,452.2) (596.0) 5.5 199.4 1.9 1.5 110.5 (277.2) 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." 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. 26#27GAAP 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 Net amount from claims ceded under the Reinsurance Agreement nt (1) (2) Sublease income Costs related to acquisitions and divestitures Transaction costs rel. to certain legacy auto insurance liabilities Restructuring charges (3) Impairment charges (4) 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) (4) Note: $ $ $ Q1 (427.3) $ 45 164.2 16.5 (242.1) $ (0.74) S 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 49 28.2 (118.7) 17.8 $ 0.05 337.8 $ Q4 (283.2) $ 4.1 160.9 3.3 24.6 (90.2) $ (0.26) $ 342.7 Q1 (196.9) $ 3.1 153.7 9.5 55.3 24.6 0.07 346.6 $ $ Q2 Fiscal 2022 (377.2) $ 4.5 176.6 2.5 (36.8) 1.4 (229.1) $ (0.65) $ 350.5 Q3 (422.2) $ 5.4 221.0 3.1 0.9 135.7 (56.1) $ (0.16) $ 356.5 Q4 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. (588.1) 55 199.4 1.9 110.5 (270.8) (0.74) 365.1 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." 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). Included in restructuring charges is $29.2 million of severance and other employee costs, $57.4 million related to lease impairments and other restructuring costs and $23.9 million related to accelerated depreciation of certain fixed assets. In addition, restructuring-related charges for the stock-based compensation of $9.5 million, payroll taxes related to stock-based compensation of $0.3 million are included on their respective line items. 27#28GAAP to Non-GAAP Reconciliations (cont.) ($ in millions) Reconciliation of Net Loss to Non-GAAP Adjusted EBITDA GAAP Net Loss Adjusted for the following Interest expense (1) Other (income) expense, net Provision for (benefit from) income taxes Depreciation and amortization Stock-based compensation expense Payroll tax expense related to stock-based compensation Net amount from claims ceded under the Reinsurance Agreement Sublease income (3) Costs related to acquisitions and divestitures Transaction costs rel. to certain legacy auto insurance liabilities Restructuring charges(4) Adjusted EBITDA (1) (2) (3) (4) Note: (2) Q1 (427.3) $ 12.9 (3.6) 1.9 34.4 164.2 16.5 (201.0) $ Q2 Fiscal 2021 (251.9) $ 13.1 (1.7) 0.7 34.5 201.0 6.8 0.9 20.4 23.8 $ Q3 (99.7) $ 13.4 (125.0) 6.6 37.0 198.4 4.9 28.2 2.9 0.6 67.3 $ Q4 (283.2) $ 13.3 (5.5) 2.0 33.3 160.9 3.3 24.6 3.7 (47.6) $ Q1 (196.9) $ 4.7 (9.8) 2.8 31.8 153.7 9.5 55.3 3.7 54.8 $ Q2 Fiscal 2022 (377.2) $ 5.2 (1.0) 0.1 29.1 176.6 2.5 (36.8) 3.8 1.4 (196.3) $ Q3 (422.2) $ 5.3 126.2 0.6 35.9 221.0 3.1 2.6 0.9 (26.7) $ Q4 (588.1) 5.6 (15.5) 2.4 58.0 199.4 1.9 1.5 86.6 (248.3) 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." 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. Included in restructuring charges is $29.2 million of severance and other employee costs and $57.4 million related to lease impairments and other restructuring costs. In addition, restructuring-related charges for stock-based compensation of $9.5 million, payroll taxes related to stock-based compensation of $0.3 million and accelerated depreciation of $23.9 million are included on their respective line items. Due to rounding, numbers presented may not add up precisely to the totals provided. 28