#1MAY 3, 2022 Q1 Fiscal 2022 Earnings Supplemental Data lyn lyft#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 profitability, cost reductions, revenue, 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 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 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 restatement and management's finding of a material weakness in our internal control over financial reporting. The forward-lookin statements contained this presentatio are also subject other risks and uncertainties, including those more fully described in Lyft's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K/A that was filed with the SEC on April 29, 2022 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 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#3Key Highlights Q1'22 +44% Revenue growth year-over-year 57.4% Contribution Margin exceeded our outlook $55M Adjusted EBITDA profit exceeded the top end our outlook of (1) (2) (3) (4) Note: Q1 Revenue of $876 million grew 44% year-over-year and exceeded the high end of our outlook by ~$26 million¹ Revenue per Active Rider of $49.18 was the second highest on record, up 9% versus Q1'21 and just 5% off of the peak in Q4'21 Active Riders of 17.8 million increased by 32% year-over-year or by more than 4.3 million people reflecting a combination of new and returning riders Rideshare rides reached a new COVID high in Q1 reflecting a strong rebound in demand in February and March Contribution Margin of 57.4% exceeded our outlook by 90 basis points² Q1 Adjusted EBITDA of $55 million exceeded the high end of our outlook by ~$40 million³ Active drivers in Q1 grew 40% year-over-year, driven in part by a 70% increase in new driver activations versus Q1'214 Company outlook for Q1'22 Revenue of $800-850 million was provided during the Q4'21 earnings call on February 8, 2022. Company outlook for Q1'22 Contribution Margin of 56.5% was provided during the Q4'21 earnings call on February 8, 2022. Company outlook for Q1'22 Adjusted EBITDA of $5-15 million was provided during the Q4'21 earnings call on February 8, 2022. An active driver is defined as a driver who has given at least one rideshare ride on the Lyft network during the quarter. Certain figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. 3#4Revenue ($ in millions) Note: $609 Actual Q1'21 Revenue ($ in millions) $800 - $850 Outlook Q1'22 $876 Actual Q1'22 Company outlook for Q1'22 Revenue of $800-850 million was provided during the Q4'21 earnings call on February 8, 2022. Revenue Growth (Year-over-Year) Note: Revenue Growth (Year-over-Year) (36%) Actual Q1'21 31% - 40% Outlook Q1'22 44% Actual Q1'22 Company outlook for Q1'22 Revenue growth of 31-40% was provided during the Q4'21 earnings call on February 8, 2022. 4#5Revenue Per Active Rider $45.06 $39.06 Note: $39.94 $45.40 $45.13 $44.63 $45.63 $51.79 $49.18 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Revenue per Active Rider in Q1'22 grew 9% year-over-year to $49.18 from $45.13 in Q1'21. On a sequential basis, Revenue per Active Rider in Q1'22 declined 5% to $49.18 from $51.79 in Q4'21. Active Riders (in millions) 21.2 8.7 Note: 12.5 12.6 ............ 13.5 17.1 18.9 18.7 ......... 17.8 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21: Q1'22 Active Riders in Q1'22 grew 32% year-over-year to 17.8 million from 13.5 million in Q1'21. On a sequential basis, Active Riders in Q1'22 declined 5% to 17.8 million from 18.7 million in Q4'21. 5#6Adjusted EBITDA Actual vs Outlook ($ in millions) Note: ($73) Q1'21 $5 - $15 Q1'22 +$40M* $55 Outlook Actual Q1'22 (*) Compared to the high end of our Adjusted EBITDA outlook for Q1'22 of $15 million. The outlook of $5-15 million was provided during our Q4'21 earnings call on February 8, 2022. The figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. Adjusted EBITDA & Margin ($ in millions) (28%) ($216) (24%) Note: ($204) (13%) (13%) ($128) ($131) ............... (9%) Adjusted EBITDA ($85) (83%) (48%) ($240) (26%) ($150) Margin (12%) ($73) $24 3% $67 8% $75 8% ..............….... $55 6% ($280) Q1'19 Q2'19 Q3'19 Q4'19: Q1'20 Q2'20 Q3'20 Q4'20: Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 The figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. 6#7Contribution Margin Actual vs Outlook Note: 56.5% Outlook Q1'22 57.4% Actual Q1'22 Company outlook for Q1'22 Contribution Margin of 56.5% was provided during the Q4'21 earnings call on February 8, 2022. The figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. Contribution & Margin ($ in millions) Note: $385 49.6% $399 46.0% $479 50.1% Contribution $550 $547 54.0% 57.3% 34.6% $117 49.8% $249 Margin 55.5% 55.4% $337 $316 $452 59.1% $514 $579 59.4% 59.7% $503 57.4% Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 The figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as the reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. 7#8Reconciliations from GAAP to Non-GAAP and Trended Financial Statements#9Condensed Consolidated Balance Sheet ($ 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 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 $ $ Fiscal 2022 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 9#10Condensed 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 Total stockholders' equity Total liabilities, redeemable convertible preferred stock and stockholders' equity Note: $ $ $ Q1 69.9 $ 1,058.4 038.4 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 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 $ $ $ Fiscal 2022 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 10#11Condensed 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), net¹ 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 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 $ $ $ Fiscal 2021 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 $ $ $ 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 Q3'21. Due to rounding, numbers presented may not add up precisely to the totals provided. 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 $ $ $ Total 3,208.3 $ 1,702.3 402.2 911.9 411.4 915.6 4,343.5 (1,135.2) (51.6) 135.9 (1,050.9) 11.2 (1,062.1) (3.17) 334.7 $ $ Fiscal 2022 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 11#12Condensed 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 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: Due to rounding, numbers presented may not add up precisely to the totals provided. $ $ 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) $ Q2 (251.9) 34.6 201.0 0.9 (0.2) 8.7 0.9 (0.4) Fiscal 2021 $ (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) $ (1,062.1) 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) Total $ 139.3 724.6 4.1 (1.5) 35.6 5.5 (119.3) 3.3 (207.0) 61.3 47.1 81.6 234.2 (48.3) (101.7) Fiscal 2022 $ 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) 12#13Condensed 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 Purchases of other intangible assets 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: Due to rounding, numbers presented may not add up precisely to the totals provided. $ $ $ $ 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) $ $ $ Q2 (745.6) $ (201.5) 64.9 789.3 276.5 (9.8) 8.8 (2.0) 180.6 Fiscal 2021 17.2 (8.0) (8.8) (10.0) $ (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) $ (305.7) $ 12.1 (10.5) 12.5 (4.4) (6.9) $ (9.3) $ Total (3,801.7) (5.0) (458.0) 513.0 3,259.2 675.5 (79.2) 42.5 122.7 (2.0) 267.0 $ (44.4) 33.8 (26.3) (35.5) Fiscal 2022 (72.5) $ $ $ 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) 13#14Condensed 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: $ Due to rounding, numbers presented may not add up precisely to the totals provided. $ $ Q1 $ (79.5) 161.1 (24.3) 57.4 $ 438.5 495.9 $ 312.2 183.6 0.1 $ 495.9 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, incl. in prepaid expenses and other current assets Total cash, cash equivalents and restricted cash and cash equivalents Q2 $ (37.5) 180.6 (9.7) 133.3 Fiscal 2021 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 $ Total (101.7) 267.0 (72.5) 92.7 (0.1) $ 438.5 531.2 Fiscal 2022 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 67.2 0.7 282.7 14#15Non-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 Interest expense Non-GAAP other income (expense), net¹ 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 (1) 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 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 Fiscal 2021 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 $ $ $ Total 3,208.3 $ 1,326.7 376.5 471.9 370.2 692.4 3,237.7 (29.4) (51.6) 10.0 (71.0) 11.2 (82.2) (0.25) 334.7 $ $ Fiscal 2022 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 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 Q3'21, and (ii) sublease income, which is presented as a contra-expense to the related lease rent expense within operating expenses for non-GAAP purposes. Due to rounding, numbers presented may not add up precisely to the totals provided. 15#16GAAP to Non-GAAP Reconciliations ($ in millions) Reconciliation of 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 Net amount from claims ceded under the Reinsurance Agreement¹ Transaction costs rel. to certain legacy auto insurance liabilities Sublease income² Restructuring charges Contribution (Non-GAAP) Contribution Margin (Non-GAAP) (1) (2) Note: $ Q1 609.0 (412.0) 2.8 8.4 1.1 128.0 337.3 55.4% $ $ Q2 Fiscal 2021 765.0 $ (346.9) 3.2 10.2 0.3 20.2 452.0 $ 59.1% Q3 864.4 $ (392.2) 2.8 10.2 0.2 28.2 513.6 $ 59.4% Q4 969.9 (551.2) 2.3 10.7 0.2 122.3 24.6 578.8 59.7% $ $ Total 3,208.3 $ (1,702.3) 11.0 39.5 1.8 250.3 52.8 20.2 Fiscal 2022 1,881.6 58.6% $ Q1 875.6 (440.3) 1.2 9.9 0.8 55.3 502.5 57.4% 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. There has been no sublease income allocated to cost of revenue through March 31, 2022. Due to rounding, numbers presented may not add up precisely to the totals provided. 16#17GAAP to Non-GAAP Reconciliations (cont.) ($ in millions) Non-GAAP Operating Expenses¹ GAAP Operations and Support Amortization of intangible assets Stock-based compensation expense (1) Payroll tax expense related to stock-based compensation Sublease income¹ 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 Sublease income¹ 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 Q2 (93.8) 7.2 0.4 (86.2) (252.0) 0.2 117.9 3.8 Fiscal 2021 $ (132.0) $ (130.2) $ Q3 (109.7) $ (109.9) $ 6.2 0.2 (103.3) $ $ (226.7) $ 111.5 2.8 2.9 Q4 5.9 0.2 0.1 (103.7) (195.0) 0.1 89.4 1.7 3.5 $ $ (109.4) $ (100.3) $ Total (402.2) 24.1 1.5 0.1 (376.5) Fiscal 2022 (471.9) $ $ (911.9) $ 0.4 414.3 18.8 6.5 $ Q1 (98.6) 5.6 0.4 0.2 (92.4) (192.8) 80.8 5.7 3.6 (102.7) 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. 17#18GAAP to Non-GAAP Reconciliations (cont.) ($ in millions) Non-GAAP Operating Expenses¹ GAAP Sales and Marketing Amortization of intangible assets Stock-based compensation expense Payroll tax expense related to stock-based compensation Sublease income¹ 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 income¹ Costs related to acquisitions and divestitures Transaction costs rel. to certain legacy auto insurance liabilities Restructuring charges Non-GAAP General and Administrative (1) Note: $ $ $ $ Q1 (78.6) 0.3 8.0 0.8 (69.5) (207.6) 1.2 47.3 3.6 $ $ $ (155.5) $ Q2 (99.9) $ 0.3 10.5 0.5 (88.6) $ Fiscal 2021 (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) $ (216.7) $ (263.6) $ 1.5 44.5 1.0 $ Total (411.4) 1.2 38.2 1.8 (370.2) 1.5 0.2 Fiscal 2022 (692.4) $ (915.6) $ 5.5 208.4 7.6 $ $ Q1 (126.3) 0.3 10.6 0.6 (114.8) (216.9) 1.5 46.9 1.9 (166.6) 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 March 31, 2022. Due to rounding, numbers presented may not add up precisely to the totals provided. 18#19GAAP to Non-GAAP Reconciliations (cont.) ($ in millions) GAAP Total Costs and Expenses Amortization of intangible assets Stock-based compensation expense (1) 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 Agreement¹ Sublease income² Costs related to acquisitions and divestitures Transaction costs rel. to certain legacy auto insurance liabilities Restructuring charges Non-GAAP Total Costs and Expenses (2) Note: $ $ Q1 (1,025.4) $ 4.5 164.2 16.5 128.0 (712.2) $ Q2 (1,005.1) 4.8 201.0 6.8 0.9 20.4 (771.2) Fiscal 2021 $ $ Q3 (1,069.4) 4.7 198.4 4.9 28.2 2.9 0.6 $ Q4 (1,243.6) 4.1 160.9 3.3 122.3 24.6 3.7 (829.7) $ (924.6) $ $ Total (4,243.5) 18.1 724.6 31.5 250.3 52.8 6.6 1.5 20.4 Fiscal 2022 $ (3,237.7) $ Q1 (1,074.9) 3.1 153.7 9.5 55.3 3.7 (849.6) 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. 19#20GAAP to Non-GAAP Reconciliations (cont.) ($ in millions) GAAP Loss from Operations Amortization of intangible assets Stock-based compensation expense (1) 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 Agreement¹ Sublease income² 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 (416.4) $ 4.5 164.2 16.5 128.0 (103.2) $ Q2 (240.1) 4.8 201.0 6.8 0.9 20.4 (6.2) $ Fiscal 2021 $ Q3 (205.0) 4.7 198.4 4.9 28.2 2.9 0.6 34.7 $ $ Q4 (273.6) 4.1 160.9 3.3 122.3 24.6 3.7 45.3 $ $ Total (1,135.2) 18.1 724.6 31.5 250.3 52.8 6.6 1.5 20.4 Fiscal 2022 $ (29.4) $ Q1 (199.3) 3.1 153.7 9.5 55.3 3.7 25.9 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. 20#21GAAP 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 Net amount from claims ceded under the Reinsurance Agreement¹ Sublease income² Costs related to acquisitions and divestitures Transaction costs rel. to certain legacy auto insurance liabilities Restructuring charges 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) Note: $ $ $ Q1 (427.3) $ 4.5 164.2 16.5 128.0 (114.1) $ (0.35) $ 326.2 Q2 (251.9) $ 4.8 201.0 6.8 0.9 20.4 Fiscal 2021 (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 $ $ LA LA $ Q4 (283.2) 4.1 160.9 3.3 122.3 24.6 $ (1,062.1) 18.1 724.6 31.5 LA LA 32.1 $ 0.09 342.7 Total $ 250.3 52.8 (117.7) 20.4 (82.2) (0.25) 334.7 Fiscal 2022 $ $ $ Q1 (196.9) 3.1 153.7 9.5 55.3 24.6 0.07 346.6 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). Due to rounding, numbers presented may not add up precisely to the totals provided. 21#22GAAP 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 Other income, net¹ Provision for (benefit from) income taxes Depreciation and amortization 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 Agreement² Sublease income³ Adjusted EBITDA Adjusted EBITDA Margin (3) Costs related to acquisitions and divestitures Transaction costs rel. to certain legacy auto insurance liabilities Restructuring charges Note: Q1 $ (427.3) $ $ 12.9 (3.6) 1.9 34.4 164.2 16.5 128.0 (73.0) (12.0%) $ Q2 (251.9) 13.1 (1.7) 0.7 34.5 201.0 6.8 0.9 20.4 23.8 3.1% Fiscal 2021 $ $ Q3 (99.7) $ 13.4 (125.0) 6.6 37.0 198.4 4.9 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% $ $ Total (1,062.1) 52.8 (135.9) 11.2 139.3 724.6 31.5 250.3 52.8 6.6 1.5 20.4 92.9 2.9% Fiscal 2022 $ $ Q1 (196.9) 4.7 (9.8) 2.8 31.8 153.7 9.5 55.3 3.7 54.8 6.3% 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 Q3'21. 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. 22