#1Mae lyf Q3 Fiscal 2020 Earnings Supplemental Data November 10, 2020 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, expectations regarding time of and path to profitability, cost reductions, expense run rate, 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 the COVID-19 pandemic and related public health measures on our business, results of operations, and the markets in which we operate, as well as statements regarding litigation matters and the Proposition 22 ballot initiative. 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, Lyft's future profitability and timing for achievement of profitability, Lyft's cost reductions, cost savings and expected expenses for 2020 and the expected impact of these cost reductions on Lyft's business and future financial performance, and trends in Lyft's business, in particular recovery in rides, the sufficiency of Lyft's unrestricted cash, cash equivalents, and short-term investments, as well as risks associated with the outcome of litigation, including a decision issued on October 22, 2020 by the California Court of Appeal affirming a motion for preliminary injunction in an action by the People of the State of California. 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 our Quarterly Report on Form 10-Q that was filed with the SEC on August 13, 2020 and in our Quarterly Report on Form 10-Q that will be filed following this presentation. The forward-looking statements in this presentation are based on information available to Lyft as of the date hereof, and Lyft disclaims any obligation 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 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. 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.#3Key Highlights +47% Sequential revenue growth reflecting an improvement in active riders and ride frequency (1) +10% Improvement in Q3 Adjusted EBITDA loss versus most recent outlook $2.5 billion Unrestricted Cash, Cash Equivalents and Short-Term Investments (2) ● ● (1) Delivered Q3'20 Adjusted EBITDA loss of $240 million versus most recent outlook of $265 million Active Riders grew 44% to 12.5 million versus Q2'20 Revenue per Active Rider increased 2% versus Q2'20 reflecting an improvement in ride frequency Contribution Margin of 50% was 15 percentage points higher versus Q2'20 and exceeded outlook of 45% ● Non-GAAP sales & marketing expense as a percentage of revenue < 15% reflecting rider incentives near historical lows On track to realize annualized fixed cost savings of $300 million by Q4'20 Expect to achieve Adjusted EBITDA profitability by Q4'21 even with a slower ride recovery Q3'20 Adjusted EBITDA loss of $240 million compares to the Company's August 12, 2020 expectation and September 8, 2020 8-K update that its third quarter Adjusted EBITDA loss could be managed to below $265 million. (2) As of September 30, 2020 Note: Certain figures above 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. 3#4Revenue per Active Rider $45.06 Q1'20 $39.06 Q2'20 +$0.88 $39.94 Q3'20 Note: Revenue per Active Rider in Q3'20 declined 7% year-over-year to $39.94 from $42.82 in Q3'19. On a sequential. basis, Revenue per Active Rider in Q3'20 grew 2% to $39.94 from $39.06 in Q2'20. The revised presentation from a year-over-year comparison to a sequential comparison is to reflect the effect of the COVID-19 pandemic and recovery trends. Active Riders (in millions) 21.2 Q1'20 8.7 Q2'20 +44% 12.5 Q3'20 Note: Active Riders in Q3'20 declined 44% year-over-year to 12.5M from 22.3M in Q3'19. On a sequential basis, Active Riders in Q3'20 grew 44% to 12.5M from 8.7M in Q2'20. The revised presentation from a year-over-year comparison to a sequential comparison is to reflect the effect of the COVID-19 pandemic and recovery trends. 4#5Rideshare Recovery Change in rideshare rides (year-over-year) -75.0% -69.8% -60.9% Q2'20 -54.1% -53.0% Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 -48.1% -47.4% Q3'20 Q4'20 Note: Year-over-year change is based on total number of rides on the Company's rideshare platform. Contribution Margin (Non-GAAP) 49.6% Q1'19 46.0% 50.1% FY'19 54.0% 57.3% Q2'19 Q3'19 Q4'19 Q1'20 34.6% 49.8% Q2'20 Q3'20 FY'20 Note: Please see the explanation of non-GAAP measures as well as reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. 5#6Insurance Supplemental#7Insurance Reserves ($ in thousands) Beginning balance Losses paid Change in estimates for prior periods Transfer of certain legacy auto insurance liabilities Reserves for current period Ending Balance March 31, 2019 $810,273 (99,551) 23,820 202,442 $936,984 June 30, 2019 $936,984 (106,078) 141,122 235,352 $1,207,380 Three Months Ended Sept. 30, 2019 $1,207,380 (144,290) 86,618 225,227 $1,374,935 Dec 31, 2019 $1,374,935 (190,709) 18,735 175,501 $1,378,462 March 31, 2020 $1,378,462 (205,946) 58,359 (407,885) 152,142 $975,132 June 30, 2020 $975,132 (112,857) 17,410 63,951 $943,636 Sept. 30, 2020 $943,636 (111,625) 680 89,937 $922,628 7#8Reconciliations from GAAP to Non-GAAP and Trended Financial Statements#9Condensed Consolidated Statement of Operations ($ in millions, except per share) 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 Loss before income taxes Provision (benefit) for income taxes Net loss Net loss per share, basic and diluted Weighted-average shares used to compute net loss per share, basic and diluted $ $ $ Q1 397.2 $ 260.6 59.9 63.1 168.7 90.2 642.5 (245.3) 11.4 (233.9) 0.4 (234.3) $ (11.69) $ 20.0 Q2 504.9 293.2 67.4 64.4 175.1 98.5 698.6 (193.7) $ 15.0 (178.7) 0.2 (178.9) $ (8.48) S 21.1 Note: Due to rounding, numbers presented may not add up precisely to the totals provided. Fiscal 2018 Q3 585.0 $ 322.6 92.5 77.2 241.1 120.3 853.7 (268.7) 20.0 (248.7) 0.5 (249.2) $ (11.58) $ 21.5 Q4 669.5 367.0 118.6 96.1 218.9 139.0 939.6 (270.1) 20.8 (249.3) (0.4) (248.9) $ (11.29) $ 22.0 Total 2,156.6 $ 1,243.4 338.4 300.8 803.8 448.0 3,134.4 (977.8) 67.2 (910.6) 0.7 (911.3) $ (43.04) $ 21.2 Q1 776.0 $ 462.9 187.2 631.0 275.1 376.7 1,932.9 (1,156.9) 19.8 (1,137.1) 1.4 (1,138.5) $ (48.53) $ 23.5 Q2 867.3 630.1 152.0 309.8 181.0 267.3 1,540.2 (672.9) Fiscal 2019 Q3 $ 29.7 (643.2) 1.0 (644.2) $ (2.23) $ 288.4 955.6 $ 580.7 149.8 288.3 163.9 263.8 1,446.5 (490.9) 29.3 (461.6) 1.9 (463.5) $ (1.57) $ 294.8 Q4 1,017.1 502.8 147.1 276.6 194.2 278.2 1,398.9 (381.8) 23.8 (358.0) (2.0) (356.0) $ (1.19) $ 299.6 Total 3,616.0 2,176.5 636.1 1,505.7 814.2 1,186.0 6,318.5 (2,702.5) 102.6 (2,599.9) 2.3 $ (2,602.2) $ (11.44) $ 227.5 Q1 Fiscal 2020 Q2 955.7 $ 542.4 133.8 258.7 196.4 238.5 1,369.8 (414.1) (1.5) 19.1 (396.5) 1.6 (398.1) $ (1.31) $ 304.5 339.3 $ 251.4 98.6 203.1 51.8 221.9 826.8 (487.5) (6.5) 12.1 (481.9) (44.8) (437.1) $ (1.41) $ 309.2 Q3 499.7 261.6 123.1 232.1 78.5 257.7 953.1 (453.4) (12.5) 7.5 (458.4) 1.1 (459.5) (1.46) 314.5 9#10Condensed 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 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 (deficit) Preferred stock Common stock Additional paid in capital Accumulated other comprehensive income Accumulated deficit $ Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) Current liabilities: Total stockholders' equity (deficit) Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) $ Q1 $ 263.2 $ 2,016.9 180.2 2,460.3 72.4 447,2 26.3 4.2 0.8 3,011.2 55.7 $ 466.3 343.2 865.2 19.4 884.6 4,338.2 58.7 (2.0) (2,268.3) (2,211.6) 3,011.2 Note: Due to rounding, numbers presented may not add up precisely to the totals provided. $ Q2 $ Fiscal 2018 928.4 $ 1,996.2 219.8 3,144.4 44.2 550.4 - $ 3,778.7 32.5 6.2 S 1.0 68.0 574.9 408.8 1,051.7 19.8 1,071.5 5,091.4 - 63.2 (0.2) (2,447.2) (2,384.2) 3,778.7 Q3 1,088.6 $ 1,609.6 261.6 2,959.8 139.2 647.1 38.4 5.9 - 1.0 3,791.4 47.0 $ 691.8 528.1 1,266.9 24.3 1,291.2 $ 5,126.7 70.2 (0.3) (2,696.4) (2,626.5) 3,791.4 $ Q4 517.7 $ 1,520.2 282.5 2,320.4 187.4 863.7 109.3 117.7 152.1 9.4 3,760.0 32.3 $ 810.3 606.2 1,448.8 30.5 1,479.3 $ 5,152.0 73.9 0.1 (2,945.3) (2,871.3) 3,760.0 $ Q1 329.5 $ 705.4 345.5 1,380.4 172.5 993.3 - 120.5 304.6 108.6 150.7 10.3 3,240.9 $ 39.4 937.0 702.0 73.7 1,752.1 263.8 $ 5,152.0 Q2 Fiscal 2019 417.4 $ 2,892.9 367.5 3,677.8 123.0 1,165.3 - 138.1 347.0 99.6 150.9 2.8 5,704.5 $ 12.7 $ 1,207.4 813.2 92.5 2,125.8 295.2 4.6 2,020.5 $ 2,427.3 6.3 $ 150.0 2.2 (4,083.8) (3,931.6) 7,999.7 5.5 (4,728.0) 3,277.2 3,240.9 $ 5,704.5 $ Q3 543.9 $ 2,572.6 426.3 3,542.8 139.4 1,237.3 160.0 412.0 90.2 150.8 2.7 5,735.2 $ 36.2 $ 1,374.9 880.8 88.9 2,380.8 359.2 5.7 2,745.7 8,176.4 4.6 (5,191.5) 2,989.5 5,735.2 Q4 358.3 $ 2,491.8 397.2 3,247.3 205.0 1,361.0 188.6 441.3 82.9 158.7 6.6 5,691.4 38.8 1,378.5 939.9 94.2 2,451.4 382.1 3.9 2,837.4 8,398.9 2.7 (5,547.6) 2,854.0 5,691.4 Q1 Fiscal 2020 597.9 $ 2,072.0 474.9 3,144.8 529.1 940.8 10.0 360.5 307.8 88.7 180.6 9.5 5,571.8 540.5 975.1 991.4 44.1 2,551.1 305.9 82.1 25.2 2,964.3 $ Q2 $ 841.1 1,934.9 320.2 3,096.2 210.3 971.8 10.0 353.6 424.8 2,028.6 299.6 2,753.1 115.2 1,199.8 10.0 335.7 297.2 79.7 284.0 71.8 182.8 182.7 16.0 12.8 5,214.4 $ 4,968.3 48.2 943.6 939.5 48.3 1,979.6 293.0 623.4 21.9 2,917.9 $ Q3 $ 26.0 922.6 1,047.5 49.0 2,045.2 278.8 622.7 18.6 2,965.2 8,674.2 5.1 8,554.5 (1.4) (5,945.6) 2,607.5 8,838.0 7.3 (6,842.3) 2,003.1 (6,382.8) 2,296.5 5,571.8 $ 5,214.4 $ 4,968.3 10#11Condensed Consolidated Statement of Cash Flows ($ in millions) Cash flows from operating activities Net loss Adjustments to reconcile net loss to net cash 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 expense (benefit) Loss on disposal of assets Gain on sale of assets 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 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 maturity of term deposit Purchases of property and equipment and scooter fleet Purchases of other intangible assets Sale of property, equipment, and held for sale assets Cash paid for acquisitions, net of cash acquired Other investing activities Net cash provided by (used in) investing activities $ Q1 (234.3) $ 1.2 2.0 0.2 (3.8) (7.3) (13.3) 89.7 85.9 (79.7) $ (1,198.2) $ 181.7 200.5 (3.1) (819.1) $ Q2 (178.9) $ (249.2) $ 1.7 1.5 0.2 (4.3) 0.3 (39.6) 11.2 108.6 67.3 (32.0) $ (1,676.5) $ 503.7 1,096.0 Fiscal 2018 Q3 (8.1) (2.2) - (87.1) $ Note: Due to rounding, numbers presented may not add up precisely to the totals provided. 2.6 2.9 0.1 (7.2) (9.3) (18.2) 116.9 125.5 (35.9) $ (1,476.2) $ 142.5 1,630.6 (17.2) (28.0) 251.7 Q4 (248.9) $ 13.3 2.2 (8.3) 0.7 (19.4) (20.5) 118.5 29.4 (133.0) $ (1,103.3) $ 72.5 911.4 (40.3) (257.6) 28.0 (389.3) $ Total (911.3) $ 18.8 8.6 0.5 (23.6) 1.0 (75.6) (40.8) 433.7 308.1 (280.6) $ (5,454.2) $ 900.4 3,838.5 (68.7) (2.2) (257.6) (1,043.8) $ Q1 (1,138.5) $ 23.1 859.5 (10.1) 0.1 (46.3) 19.5 1.2 126.7 94.3 (14.3) (84.8) $ (607.2) $ 466.2 838.2 (25.2) (1.7) Q2 (644.2) S 31.1 293.2 0.1 (11.3) 7.6 (0.2) (33.4) 20.5 (23.6) 270.4 117.8 (12.7) 15.3 $ Fiscal 2019 Q3 (2,974.6) $ (105.0) 180.9 553.2 (43.1) 0.8 (0.1) 670.3 $ (2,387.9) $ (463.5) $ 30.1 242.2 0.2 (9.9) 16.8 0.9 (61.7) 30.6 21.7 167.6 71.8 (36.8) 10.0 $ (1,254.4) $ 246.3 1,264.9 (60.1) 3.2 199.9 $ Q4 (356.0) $ (2,602.2) $ 24.0 204.4 0.3 (8.0) 12.2 (1.7) 21.9 38.0 5.8 3.5 48.5 (39.1) (46.2) $ (1,612.7) $ (37.8) 199.6 1,414.9 (49.7) 3.1 (10.5) Total (93.1) $ 108.3 1,599.3 0.6 (39.3) 36.6 (0.9) (119.5) 108.6 5.1 568.2 332.4 (102.9) (105.7) $ (6,448.9) $ (142.8) 1,093.0 4,071.2 (178.1) 7.1 (12.3) (1,610.8) $ Q1 (398.1) S 35.5 160.0 0.5 (7.8) 3.2 0.1 (83.7) 20.3 500.0 (403.3) (25.3) (8.3) (206.9) $ Fiscal 2020 Q2 (1,179.3) $ (10.0) (75.0) 406.5 1,661.5 30.0 (34.5) 0.9 (12.4) 787.7 $ (437.1) $ 44.5 105.8 1.2 (4.0) 4.1 (46.3) 10.8 2.2 155.0 13.1 (495.8) (31.5) (64.3) (9.4) (751.7) $ (1,042.7) $ (288.8) 41.4 1,291.8 112.8 (21.7) 0.1 92.9 $ Q3 (459.5) 41.7 166.7 2.4 (1.6) 8.4 14.1 (9.9) 3.9 13.5 14.1 (19.4) (21.0) 105.9 (15.0) (155.7) (1,146.6) (355.0) 28.3 1,058.4 90.0 (14.6) 13.9 (325.6) 11#12Condensed Consolidated Statement of Cash Flows (continued) ($ in millions) Cash flows from financing activities Proceeds from issuance of common stock in initial public offering, net of underwriting commissions, offering costs and reimbursements Repayment of loans Proceeds from issuance of convertible senior notes Payment of debt issuance costs Purchase of capped call Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs 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 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 Reconciliation of cash, cash equivalents and restricted cash and cash equivalents to the condensed consolidated balance sheets Cash and cash equivalents Restricted cash and cash equivalents Restricted cash, included in prepaid expenses and other current assets Total cash, cash equivalents and restricted cash and cash equivalents $ $ Q1 54.2 1.3 55.5 $ (843.3) 1,178.9 335.6 263.2 72.4 335.6 $ Note: Due to rounding, numbers presented may not add up precisely to the totals provided. Q2 |||| 753.2 3.0 756.2 $ (0.1) 637.0 335.6 972.6 928.4 44.2 972.6 Fiscal 2018 Q3 ||||| 35.3 4.1 39.4 $ 255.2 972.6 1,227.8 1,088.6 139.2 1,227.8 $ Q4 (0.4) S 1.5 1.1 (0.1) (521.3) 1,227.8 706.5 $ 517.7 187.4 1.4 706.5 $ Total (0.4) $ 1 842.7 9.9 852.2 $ (0.2) (472.4) 1,178.9 706.5 517.7 187.4 1.4 706.5 $ Q1 (5.1) $ |||| 1.6 (784.7) (788.2) $ 0.1 (202.6) 706.5 503.9 329.5 172.5 1.9 503.9 $ Q2 2,489.3 0.9 (79.2) 2,411.0 0.2 38.6 503.9 542.5 417.4 123.0 2.1 542.5 Fiscal 2019 Q3 $ $ (0.1) $ 12.4 (78.9) (66.6) $ (0.1) 143.2 542.5 685.7 543.9 139.4 2.4 685.7 $ Q4 (0.1) $ 18.2 (0.1) 18.0 0.1 (121.2) 685.7 564.5 358.3 205.0 1.2 564.5 $ $ Total 2,484.0 $ 33.1 (942.9) 1,574.2 $ 0.3 (142.0) 706.5 564.5 358.3 205.0 1.2 564.5 $ Q1 (6.1) 2.3 (6.8) (6.2) (16.8) $ (0.1) 563.9 Fiscal 2020 Q2 564.5 1,128.4 (11.9) 734.1 (0.4) (132.7) 11.9 (4.4) (11.8) 584.8 (0.4) (74.4) 1,128.4 1,054.0 597.9 841.1 210.3 529.1 1.4 1,128.4 $ 1,054.0 2.6 $ Q3 (17.6) (0.4) 0.4 (3.3) (11.1) (32.0) 0.2 (513.1) 1,054.0 540.9 424.8 115.2 0.9 540.9 12#13Non-GAAP Condensed Consolidated Statement of Operations ($ in millions, except per share) 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 Interest expense Other income (expense), net Loss before income taxes Provision (benefit) for income taxes Adjusted net loss Adjusted net loss per share, basic and diluted Weighted-average shares used to compute adjusted net loss per share, basic and diluted $ $ Q1 397.2 $ 256.8 59.8 62.4 168.6 89.0 636.6 (239.4) 11.4 (228.0) 0.4 (228.4) $ (11.40) $ 20.0 Note: Due to rounding, numbers presented may not add up precisely to the totals provided. Q2 504.9 $ 292.4 Fiscal 2018 Q3 67.4 63.9 175.0 97.5 696.2 (191.3) 15.0 (176.3) 0.2 (176.5) $ (8.37) $ 21.1 585.0 321.8 92.4 75.9 241.0 118.7 849.8 (264.8) $ 20.0 (244.8) 0.5 (245.3) S (11.41) S 21.5 Q4 669.5 $ 364.8 118.6 92.3 218.4 135.1 929.2 (259.7) 20.8 (238.9) (0.4) (238.5) $ (10.82) $ 22.0 Total 2,156.6 1,235.8 338.2 294.5 803.0 440.3 3,111.8 (955.2) $ 67.2 (888.0) 0.7 (888.7) $ (41.97) $ 21.2 Q1 776.0 $ 391.1 133.4 107.6 227.0 146.8 1,005.9 (229.9) 19.8 (210.1) 1.4 (211.5) $ (9.02) $ 23.5 Q2 867.3 $ 468.4 Fiscal 2019 Q3 143.8 121.9 168.4 190.8 1,093.3 (226.0) 29.7 (196.3) 1.0 (197.3) (0.68) $ 288.4 955.6 $ 476.4 141.0 129.5 155.3 202.4 1,104.6 (149.0) 29.3 (119.7) 1.9 (121.6) $ (0.41) $ 294.8 Q4 1,017.1 $ 467.6 140.0 142.9 186.9 226.9 1,164.3 (147.2) 23.8 (123.4) (2.0) (121.4) $ (0.41) $ 299.6 Total 3,616.0 1,803.5 558.2 501.9 737.6 766.9 4,368.1 (752.1) $ 102.6 (649.5) 2.3 (651.8) $ (2.87) $ 227.5 Q1 Fiscal 2020 Q2 955.7 $ 408.3 129.3 153.8 190.8 186.9 1,069.1 (113.4) (1.5) 19.1 (95.8) 1.6 (97.4) $ (0.32) $ 304.5 339.3 222.0 $ 87.6 133.8 43.8 168.3 655.5 (316.2) (6.5) 12.1 (310.6) (44.8) (265.8) $ (0.86) $ 309.2 Q3 499.7 250.9 117.6 130.7 71.1 203.6 774.0 (274.2) (12.5) 7.5 (279.3) 1.1 (280.4) (0.89) 314.5 13#14GAAP to Non-GAAP Reconciliations ($ in millions) Contribution Revenue Less: cost of revenue 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 Transfer of certain legacy auto liabilities Restructuring charges Non-GAAP Contribution Non-GAAP Contribution Margin Non-GAAP Operating Expenses GAAP Operations and Support Amortization of intangible assets Stock-based compensation expense Payroll tax expense related to stock-based compensation 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 Restructuring charges Non-GAAP Research and Development GAAP Sales and Marketing Amortization of intangible assets Stock-based compensation expense Payroll tax expense related to stock-based compensation. 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 Costs related to acquisitions Transfer of certain legacy auto insurance liabilities Restructuring charges Non-GAAP General and Administrative $ $ $ $ $ $ $ Q1 $ 397.2 $ (260.6) 0.3 0.1 3.4 140.4 Note: Due to rounding, numbers presented may not add up precisely to the totals provided. 35.3% (59.9) 0.1 (59.8) (63.1) 0.7 (62.4) (168.7) 0.1 $ (89.0) $ $ (168.6) $ $ 212.5 $ 42.1% $ $ $ (90.2) $ 0.2 1.0 Q2 $ 504.9 $ (293.2) 0.7 0.1 (67.4) $ Fiscal 2018 Q3 (67.4) $ (64.4) $ 0.5 (63.9) 0.1 (175.1) $ $ (175.0) $ (97.5) (98.5) $ 0.2 0.8 $ 585.0 $ (322.6) 0.6 0.2 263.2 45.0% (92.5) 0.1 (92.4) $ (77.2) $ 0.2 1.1 (241.1) (75.9) $ 0.1 $ (241.0) $ (120.3) 0.2 1.4 (118.7) $ $ $ $ Q4 669.5 $ 2,156.6 (367.0) (1,243.4) 3.7 0.5 2.1 0.1 304.7 45.5% (118.6) $ $ (118.6) $ (96.1) $ 2.0 1.8 (92.3) $ (218.9) $ 0.5 (218.4) $ (139.0) $ 0.1 0.3 3.5 (135.1) Total 3.4 920.8 42.7% (338.4) 0.2 (338.2) $ (803.8) 0.5 0.3 $ (300.8) $ 2.2 4.1 (803.0) (294.5) $ $ 3.5 $ 384.9 49.6% $ (440.3) $ (448.0) $ 0.7 3.5 $ Q1 $ 776.0 (462.9) 5.3 41.5 1.2 23.8 (187.2) 51.4 2.4 (133.4) $ $ (631.0) $ 2.9 506.2 14.3 45.1 $ (107.6) $ 2.7 $ (275.1) $ 0.3 (227.0) 215.3 13.9 $ (376.7) $ 0.7 (146.8) $ Q2 867.3 (630.1) 5.3 15.1 0.2 141.1 398.9 46.0% (152.0) 8.2 Fiscal 2019 Q3 $ $ $ (143.8) $ (309.8) $ 2.9 182.9 2.1 (121.9) $ (190.8) (181.0) $ 0.3 12.1 0.2 (168.4) $ (267.3) $ 0.7 74.9 0.9 $ 955.6 $ (580.7) 5.3 12.1 0.3 86.6 479.2 50.1% (149.8) 8.6 0.2 $ $ (141.0) $ (288.3) $ 2.9 153.8 2.1 (202.4) $ (155.3) $ (263.8) $ 0.7 59.7 1.0 Q4 $ 1,017.1 (502.8) 3.6 12.7 0.1 18.8 549.5 54.0% (147.1) 7.0 0.1 (129.5) $ (142.9) $ (163.9) 0.3 (194.2) $ 0.3 8.0 6.8 0.3 0.2 (140.0) (276.6) 3.0 129.0 1.7 $ (186.9) $ Total (278.2) $ 0.6 48.9 0.8 1.0 3,616.0 (2,176.5) 19.5 81.4 1.8 270.3 1,812.5 50.1% (636.1) 75.2 2.7 (558.2) $ (1,505.7) $ 11.7 971.9 20.2 (814.2) 1.2 72.0 3.4 $ $ $ (501.9) $ - $ (226.9) $ (766.9) (737.6) $ $ (1,186.0) $ 2.7 398.8 16.6 1.0 $ Q1 955.7 (542.4) 2.8 9.7 0.7 58.4 62.5 547.4 57.3% (133.8) 4.1 0.4 $ - $ (129.3) $ $ (258.7) $ 2.9 95.6 6.4 (153.8) $ (196.4) $ 0.3 4.8 0.5 (186.9) (190.8) $ (238.5) $ 1.3 45.8 1.9 0.4 2.2 $ Fiscal 2020 Q2 339.3 (251.4) 3.7 4.5 0.3 17.4 3.5 117.3 34.6% (98.6) 1.5 0.3 9.2 (87.6) (203.1) 2.9 52.2 2.9 11.3 (133.8) (221.9) 1.7 43.2 1.2 $ 7.5 (168.3) $ $ $ $ (51.8) 0.3 4.4 0.3 3.0 (43.8) $ $ $ $ Q3 499.7 (261.6) 2.8 7.0 0.2 0.7 248.8 49.8% (123.1) - 5.3 0.2 (117.6) (232.1) 2.9 96.2 2.3 (130.7) (78.5) 0.3 6.9 0.2 (71.1) (257.7) 1.7 51.3 1.1 $ (203.6) 14#15GAAP to Non-GAAP Reconciliations (continued) ($ in millions) GAAP Total Costs and Expenses 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 Costs related to acquisitions Transfer of certain legacy auto insurance liabilities Restructuring charges Non-GAAP Total Costs and Expenses GAAP Loss from Operations 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 Costs related to acquisitions Transfer of certain legacy auto insurance liabilities Restructuring charges Non-GAAP Loss from Operations 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. Costs related to acquisitions Transfer of certain legacy auto insurance liabilities Restructuring charges Adjusted Net Loss Adjusted not loss per share, basic and diluted Weighted-average shares used to compute adjusted net loss per share, basic and diluted Reconciliation of Net Loss to Non-GAAP Adjusted EBITDA GAAP Net Loss Adjusted to exclude the following Interest expense 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 Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods Costs related to acquisitions Transfer of certain legacy auto insurance liabilities Restructuring charges $ $ $ $ $ $ Adjusted EBITDA Adjusted EBITDA Margin Note: Due to rounding, numbers presented may not add up precisely to the totals provided. Q1 (642.5) $ 0.5 2.0 $ 3.4 (636.6) (245.3) 0.5 2.0 3.4 (239.4) (234.3) 0.5 2.0 3.4 $ (234.3) (11.4) 0.4 1.2 2.0 3.4 $ (228.4) (11.40) $ 20.0 (238.7) (60.1%) $ $ $ Q2 (698.6) 0.9 1.5 $ (696.2) $ (191.3) (193.7) $ 0.9 1.5 $ (176.5) $ (8.37) $ 21.1 Fiscal 2018 Q3 $ (178.9) $ 0.9 1.5 (15.0) 0.2 1.7 1.5 (178.9) $ (190.5) (37.7%) (853.7) $ 1.0 2.9 (849.8) $ (268.7) $ 1.0 2.9 (264.8) $ (249.2) $ 1.0 2.9 (245.3) $ (11.41) $ 21.5 (249.2) $ (20.0) 0.5 2.6 2.9 (263.2) $ (45.0%) Q4 (939.6) 4.7 2.2 3.5 (929.2) 3.5 (270.1) $ 4.7 2.2 $ (259.7) $ 3.5 $ (248.9) $ 4.7 2.2 (238.5) $ (10.82) $ 22.0 (20.8) (0.4) 13.3 2.2 (248.9) $ 3.5 Total (3,134.4) 7.1 8.6 3.4 3.5 (3,111.8) (977.8) 7.1 8.6 3.4 3.5 (955.2) (911.3) 7.1 8.6 3.4 3.5 (888.7) (41.97) 21.2 (911.3) (67.2) 0.7 18.8 8.6 3.5 $ Q1 (1,932.9) 9.2 859.5 34.5 23.8 $ (1,005.9) $ (1,156.9) 9.2 859.5 34.5 23.8 (251.1) $ (943.5) $ (37.5%) (43.7%) (229.9) 34.5 23.8 $ (1,138.5) $ 9.2 859.5 $ (19.8) 1.4 23.1 (211.5) $ (9.02) $ 23.5 859,5 34.5 23,8 $ (1,093.3) $ (1,138.5) $ Q2 (1,540.2) 9.2 293.2 3.4 141.1 (216.0) $ (27.8%) $ (672.9) $ (490.9) $ (381.8) 9.2 9.2 7.5 242.2 3.9 293.2 3.4 204.4 2.9 18.8 141.1 86.6 1.0 (226.0) (644.2) 9.2 293.2 3.4 141.1 (197.3) (0.68) 288.4 (644.2) (29.7) 1.0 31.1 293.2 3.4 141.1 Fiscal 2019 Q3 (1,446.5) 9.2 242.2 3.9 86.6 (204.1) (23.5%) $ (1,104.6) $ (149.0) (121.6) (0.41) 294.8 (463.5) $ 9.2 242.2 3.9 86,6 (463.5) (29.3) 1.9 30.1 242.2 3.9 86.6 Q4 Total $ (1,398.9) $ (6,318.5) 35.1 1,599.3 44.7 270.3 1.0 (128.1) (13.4%) $ (1,164.3) $ $ 7.5 204.4 2.9 18.8 1.0 $ $ (147.2) (356.0) 7.5 204.4 2.9 18.8 1.0 (356.0) (23.8) (2.0) 24.0 204.4 2.9 18.8 1.0 (121.4) $ (0.41) $ 299.6 (130.7) (12.9%) $ (4,368.1) $ $ (2,702.5) $ 35.1 1,599.3 44.7 270.3 1.0 $ (752.1) $ (2,602.2) 35.1 1,599.3 44.7 270.3 1.0 S (102.6) 2.3 108.3 1,599.3 44.7 270.3 1.0 $ (651.8) $ (2.87) $ 227.5 $ (2,602.2) $ $ (678.9) $ (18.8%) 01 (1,369.8) 7.3 160.0 9.9 58.4 0.4 64.7 (1,069.1) (414.1) 7.3 160.0 9.9 58.4 0.4 64.7 (113.4) $ (97.4) (0.32) 304.5 (398.1) $ 7.3 160.0 9.9 58.4 0.4 64.7 (398.1) 1.5 (19.1) 1.6 35.5 $ 160.0 9.9 58.4 0.4 64.7 Fiscal 2020 Q2 (826.8) 8.6 105.8 5.0 17.4 $ (487.5) $ 8.6 105.8 5.0 $ 34.5 (655.5) $ 17.4 34.5 (316.2) $ (437.1) 8.6 105,8 5.0 17.4 $ 34.5 (265.8) $ (0.86) $ 309.2 7.0 (12.1) (44.8) 44.5 105.8 5.0 17.4 (437.1) $ 34.0 (85.2) $ (280.3) $ (8.9%) (82.6%) Q3 (953.1) 7.7 166.7 4.0 0.7 (774.0) (453.4) 7.7 166.7 4.0 0.7 (274.2) (459.5) 7.7 166.7 4.0 0.7 (280.4) (0.89) 314.5 (459.5) 13.1 (7.5) 1.1 41.7 166.7 4.0 0.7 (239.7) (48.0%) 15#16Reconciliation of GAAP to Non-GAAP Financial Measures ($ in millions) Contribution Revenue Less cost of revenue 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 Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods Transfer of certain legacy auto insurance liabilities Restructuring charges Contribution Contribution Margin Adjusted EBITDA Net Loss Adjusted to exclude the following: Interest expense Other income (expense), net Provision for income taxes Depreciation and amortization 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 Costs related to acquisitions Transfer of certain legacy auto insurance liabilities Restructuring charges Adjusted EBITDA Adjusted EBITDA Margin Adjusted Net Loss Net Loss Adjusted to exclude the following: 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 Costs related to acquisitions Transfer of certain legacy auto insurance liabilities Restructuring charges Adjusted Net Loss Adjusted Net Loss per share, basic and diluted Weighted-average shares used to compute net loss per share, basic and diluted Note: Due to rounding, numbers presented may not add up precisely to the totals provided. $ Three Months Ended September 30, 2020 2020 499.7 $ (261.6) 2.8 7.0 0.2 0.7 2020 248.8 49.8% Three Months Ended September 30, (459.5) 13.1 (7.5) 1.1 41.7 166.7 4.0 0.7 (239.7) (48.0%) $ 7.7 166.7 4.0 0.7 $ Three Months Ended September 30, (459.5) $ (280.4) (0.89) 314.5 2019 2019 2019 955.6 (580.7) 5.3 12.1 0.3 86.6 479.2 50.1% (463.5) (29.3) 1.9 30.1 242.2 86.6 (128.1) (13.4%) (463.5) 9.2 242.2 3.9 86.6 (121.6) (0.41) 294.8 16#17Thank you. lyf