#1lyn Q1 Fiscal 2020 Earnings Supplemental Data May 6, 2020#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 include, but are not limited to, statements regarding Lyft's future financial and operating performance, including its outlook, 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 as well as 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. 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 risks related to the impact of the COVID-19 pandemic on our business and government responses thereto, and risks regarding our ability to forecast our performance due to our limited operating history and COVID-19 pandemic. 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 Annual Report on Form 10-K that was filed with the SEC on February 28, 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 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. 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 (1) 57% Record Contribution Margin ($85M) Adjusted EBITDA Loss Improved by 61% YoY $2.7B (2) Unrestricted Cash, Cash Equivalents and Short- Term Investments (1) Record Contribution Margin is defined as all-time high quarterly non-GAAP contribution margin. (2) As of 3/31/20. It does not include restricted cash and restricted investments. Note: Certain of the figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as reconciliation from GAAP to Non-GAAP measures contained in the appendix to this presentation. 3#4Revenue ($ in Millions) $776 Q1'19 $956 Q1'20 23% YoY Growth#5Revenue per Active Rider 19% YoY growth $37.86 Q1'19 $45.06 Q1'20 Active Riders (in Millions) 20.5 Q1'19 3% YoY growth 21.2 Q1'20 5#6Contribution Margin 50% Q1'19 57% Q1'20 (1) Contribution margin improved 7.7 percentage points from the same period a year ago. Note: The 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. Contribution was $385 million and $547 million for Q1'19 and Q1'20, respectively. +7pp Improvement™ 6#7Non-GAAP Operating Expenses (as a % of revenue) Q1'19 (17%) (14%) (29%) (19%) +10pp Improvement (1) Q1'20 (14%) (16%) (20%) (20%) Operations and support Research and development Sales and marketing General and administrative (1) Aggregate improvement does not equal the sum of individual component changes due to rounding. Note: The 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. 7#8Adjusted EBITDA Margin Q1'19 (28%) Q1'20 (9%) Note: The 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. Adjusted EBITDA was ($216) million and ($85) million for Q1'19 and Q1'20, respectively. +19pp Improvement 8#9Improving Operating Leverage $384.9 Q1'19 Contribution ($ in Millions) $398.9 Q2'19 $479.2 Q3'19 $549.5 Q4'19 $547.4 Q1'20 Q1'19 (27.8%) Adjusted EBITDA Margin Q3'19 Q2'19 (23.5%) Q4'19 (13.4%) (12.9%) Note: The 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. Adjusted EBITDA was ($216) million, ($204) million, ($128) million, ($131) million and ($85) million for Q1'19, Q2'19, Q3'19, Q4'19 and Q1'20, respectively. Q1'20 (8.9%) 9#10Insurance Supplemental#11Insurance Transaction Overview Transaction overview Transaction Summary: Signed a novation agreement for Lyft's legacy auto liability underwritten between October 1, 2015 and September 30, 2018 with a subsidiary of Enstar. Lyft to separately provide retrocessional coverage for losses in excess of $816 million on this business. Transaction Costs: $64.7M(¹) COR: $62.5M G&A: $2.2M ● Date announced: March 31, 2020 Rationale Eliminate nearly all of Lyft's primary auto insurance liabilities related to periods preceding October 2018. Allow Lyft's insurance risk solutions team to spend less time on legacy claims and instead focus their efforts on managing go- forward insurance costs, an important contributor to Lyft's path to profitability. Related Liability and Stockholder's Equity Movements ($ in Millions) Accounts payable Insurance reserves , (1) Accumulated deficit" Total Liabilities & Stockholders' Equity (Deficit) (3) Q1 2020 $465.0 (407.9) ($64.7) ($7.6) April 2020(²) (1) Transaction costs adjusted in Contribution and Adjusted EBITDA were $62.5 million and $64.7 million, respectively. (2) Upon the closing of the transaction in April 2020, in conjunction with resolving the outstanding payable due to Enstar in the amount of $465 million, $90.6 million of unrestricted cash and cash equivalents was used. (3) Total liabilities excludes $4.4 million in taxes and miscellaneous payments related to the transaction. Note: Due to rounding, numbers presented may not add up precisely to the totals provided. ($465.0) ($465.0) 11#12Insurance Reserves ($ 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 Three Months Ended December 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 $975,132 12#13Reconciliations from GAAP to Non-GAAP and Trended Financial Statements#14Condensed Consolidated Statement of Operations ($ 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 income 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) 11.5 (0.1) (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) 15.3 (0.3) (178.7) 0.2 (178.9) $ (8.48) $ 21.1 Fiscal 2018 Q3 585.0 $ 322.6 92.5 77.2 241.1 120.3 853.7 (268.7) 19.6 0.4 (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) 20.1 0.7 (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) 66.5 0.7 (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) 19.7 0.1 (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) 30.0 (0.3) (643.2) 1.0 (644.2) $ (2.23) $ 288.4 Fiscal 2019 Q3 955.6 $ 580.7 149.8 288.3 163.9 263.8 1,446.5 (490.9) 28.7 0.6 (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) 24.1 (0.3) (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) 102.5 0.1 (2,599.9) 2.3 (2,602.2) $ (11.44) $ 227.5 Fiscal 2020 Q1 955.7 542.4 133.8 258.7 196.4 238.5 1,369.8 (414.1) 21.3 (3.7) (396.5) 1.6 (398.1) (1.31) 304.5 14#15Condensed 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, 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 $ Q2 Fiscal 2018 928.4 $ 1,996.2 219.8 3,144.4 44.2 550.4 32.5 6.2 1.0 3,778.7 $ 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 5,126.7 $ 70.2 (0.3) (2,696.4) (2,626.5) $ 24.3 1,291.2 $ $ 3,791.4 $ Q4 517.7 $ 1,520.2 282.6 2,320.5 187.4 863.7 109.3 117.7 152.1 9.4 3,760.1 $ 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 4.6 2,020.5 $ 5,152.0 $ 150.0 (4,083.8) (3,931.6) 3,240.9 $ 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 $ 7,999.7 5.5 (4,728.0) 3,277.2 $ 6.3 2,427.3 $ 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 Fiscal 2020 Q1 8,398.9 2.7 (5,547.6) 2,854.0 5,691.4 $ $ $ $ 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 8,554.5 (1.4) (5,945.6) 2,607.5 5,571.8 15#16Condensed Consolidated ($ 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 Loss on disposal 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 Purchases of non-marketable securities Purchase of term deposit Proceeds from sales of marketable securities Proceeds from maturities of marketable securities Proceeds from maturity of term deposit Consolidated Statement of Cash Flows Purchases of property and equipment and scooter fleet Purchases of other intangible 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) $ 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 (8.1) (2.2) (87.1) $ Fiscal 2018 Q3 (249.2) $ 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 (13.3) $ (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) $ (6,072.0) $ 466.2 838.2 (25.2) (1.7) Q2 (644.2) $ 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 $ (2,974.6) $ (105.0) 180.9 553.2 (43.1) (0.1) 0.8 670.3 $ (2,387.9) $ Fiscal 2019 Q3 (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) $ 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) (10.5) 3.1 (93.1) $ Total (2,602.2) $ 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) Fiscal 2020 Q1 (12.3) 7.1 (1,610.8) $ (398.1) 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) (1,179.3) (10.0) (75.0) 406.5 1,661.5 30.0 (34.5) (12.4) 0.9 787.7 16#17Condensed Consolidated Statement of Cash Flows (cont'd) ($ 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 redeemable convertible preferred stock, net of issuance costs Proceeds from exercise of stock options and other common stock issuances Proceeds from employee stock urchase plan 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 $ Q2 753.2 3.0 756.2 $ (0.1) 637.0 335.6 972.6 928.4 44.2 Fiscal 2018 Q3 972.6 $ 35.3 4.1 39.4 $ 255.2 972.6 1,227.8 $ 1,088.6 139.2 1,227.8 $ Q4 (0.4) $ 1.5 1.1 $ (0.1) (521.3) 1,227.8 706.5 517.7 187.4 1.4 706.5 $ Total (0.4) $ 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) $ 3.4 14.8 (0.1) 18.0 0.1 (121.2) 685.7 564.5 358.3 205.0 1.2 564.5 $ $ Total 2,484.0 18.3 14.8 (942.9) 1,574.2 $ 0.3 (142.0) 706.5 564.5 Fiscal 2020 Q1 358.3 205.0 1.2 564.5 $ $ (6.1) 2.3 (6.8) (6.2) (16.8) (0.1) 563.9 564.5 1,128.4 597.9 529.1 1.4 1,128.4 17#18Non-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 income 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) 11.5 (0.1) (228.0) 0.4 (228.4) $ (11.40) $ 20.0 Q2 504.9 $ 292.4 67.4 63.9 175.0 97.5 696.2 (191.3) 15.3 (0.3) (176.3) 0.2 (176.5) $ (8.37) $ 21.1 Fiscal 2018 Q3 585.0 $ 321.8 92.4 75.9 241.0 118.7 849.8 (264.8) 19.6 0.4 (244.8) 0.5 (245.3) $ (11.41) $ 21.5 Q4 669.5 $ 364.8 118.6 92.3 218.4 135.1 929.2 (259.7) 20.1 0.7 (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) 66.5 0.7 (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) 19.7 0.1 (210.1) 1.4 (211.5) $ (9.02) $ 23.5 Q2 867.3 $ 468.4 143.8 121.9 168.4 190.8 1,093.3 (226.0) 30.0 (0.3) (196.3) 1.0 (197.3) $ (0.68) $ 288.4 Fiscal 2019 Q3 955.6 $ 476.4 141.0 129.5 155.3 202.4 1,104.6 (149.0) 28.7 0.6 (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) 24.1 (0.3) (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) 102.5 0.1 (649.5) 2.3 (651.8) $ (2.87) $ 227.5 Fiscal 2020 Q1 955.7 408.3 129.3 153.8 190.8 186.9 1,069.1 (113.4) 21.3 (3.7) (95.8) 1.6 (97.4) (0.32) 304.5 18#19GAAP to Non-GAAP Reconciliations ($ in Millions, except per share) 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 insurance liabilities 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 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 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 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 Non-GAAP General and Administrative $ $ $ $ $ Q1 397.2 $ (260.6) 0.3 0.1 3.4 140.4 35% (59.9) $ 0.1 (59.8) $ (63.1) $ - $ 0.7 (62.4) $ (168.7) $ - 0.1 (168.6) $ (90.2) $ 0.2 1.0 (89.0) $ Q2 504.9 $ (293.2) 0.7 0.1 212.5 42% (67.4) S $ (67.4) $ (64.4) $ 0.5 (63.9) $ (175.1) $ 0.1 (175.0) $ (98.5) $ 0.2 0.8 (97.5) $ Fiscal 2018 Q3 585.0 $ (322.6) 0.6 0.2 263.2 45% (92.5) $ 0.1 $ (92.4) $ (77.2) $ 0.2 1.1 (75.9) $ (241.1) $ 0.1 (241.0) $ (120.3) $ 0.2 1.4 (118.7) $ Q4 669.5 $ (367.0) 2.1 0.1 304.7 $ 46% (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 2,156.6 $ (1,243.4) 3.7 0.5 3.4 920.8 $ 43% (338.4) $ 0.2 (338.2) $ (300.8) $ 2.2 4.1 (294.5) $ (803.8) $ 0.5 0.3 (803.0) $ (448.0) $ 0.7 3.5 3.5 (440.3) $ Q1 776.0 $ (462.9) 5.3 41.5 1.2 23.8 384.9 50% $ (187.2) $ 51.4 2.4 (133.4) S (631.0) $ 2.9 506.2 14.3 (107.6) $ (275.1) $ 0.3 45.1 2,7 (227.0) $ (376.7) $ 0.7 215.3 13.9 (146.8) $ Q2 867.3 $ (630.1) 5.3 15.1 0.2 141.1 398.9 $ 46% (152.0) $ 8.2 (143.8) $ (309.8) $ 2.9 182.9 2.1 (121.9) $ (181.0) $ 0.3 12.1 0.2 (168.4) $ (267.3) $ 0.7 74.9 0.9 (190.8) $ Fiscal 2019 Q3 955.6 $ (580.7) 5.3 12.1 0.3 86.6 479.2 50% (149.8) $ 8.6 0.2 (141.0) $ (288.3) $ 2.9 153.8 2.1 (129.5) $ (163.9) $ 0.3 8.0 0.3 (155.3) $ (263.8) $ 0.7 597 1.0 (202.4) $ Q4 1,017.1 $ (502.8) 3.6 12.7 0.1 18.8 549.5 54% $ (147.1) $ 7.0 0.1 (140.0) $ (276.6) $ 3.0 129.0 1.7 (142.9) $ (194.2) $ 0.3 6.8 0.2 (186.9) $ (278.2) $ 0.6 48.9 0.8 1.0 (226.9) $ Total 3,616.0 $ (2,176.5) 19.5 81.4 1.8 270.3 1,812.5 $ 50% (636.1) $ 75.2 2.7 (558.2) $ (1,505.7) $ 11.7 971.9 20.2 (501.9) $ (814.2) $ 1.2 72.0 3.4 (737.6) $ (1186.0) $ 2.7 398.8 16.6 1.0 (766.9) $ Fiscal 2020 Q1 955.7 (542.4) 2.8 9.7 0.7 58.4 62.5 547.4 57% (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 (190.8) (238.5) 1.3 45.8 1.9 0.4 2.2 (186.9) 19#20GAAP to Non-GAAP Reconciliations (cont'd) ($ in Millions, except per share) 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 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 Non-GAAP Loss from Operations GAAP Not 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 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 Reconciliation of Net Loss to Non-GAAP Adjusted EBITDA GAAP Net Loss Adjusted to exclude the following Interest income 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 Adjusted EBITDA Adjusted EBITDA Margin $ $ $ $ $ $ $ $ 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 (228.4) $ (11.40) S 20.0 (234.3) $ (11.5) 0.1 0.4 1.2 2.0 3.4 (238.7) $ (60.1%) Q2 (698.6) $ 0.9 1.5 (696.2) $ (193.7) $ 0.9 1.5 (191.3) S (178.9) $ 0.9 1.5 (176.5) $ (8.37) S 21.1 (178.9) $ (15.3) 0.3 0.2 1.7 1.5 (190.5) $ (37.7%) Fiscal 2018 Q3 (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) S 21.5 (249.2) $ (19.6) (0.4) 0.5 2.6 2.9 (263.2) $ (45.0%) Q4 (939.6) $ 4.7 2.2 3.5 (929.2) $ (270.1) S 4.7 2.2 3.5 - (259.7) $ (248.9) $ 4.7 3.5 (238.5) $ (10.82) $ 22.0 (248.9) $ (20.1) (0.7) (0.4) 13.3 2.2 - 3.5 (251.1) $ (37.5%) 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) S 21.2 (911.3) S (66.5) (0.7) 0.7 18.8 8.6 3.4 3.5 (943.5) $ (43.7%) 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 - (229.9) $ (1,138.5) $ 9.2 859.5 34.5 23.8 (211.5) $ (9.02) S 23.5 (1,138.5) $ (19.7) (0.1) 1.4 23.1 859.5 34.5 23.8 (216.0) $ (27.8%) Q2 (1,540.2) $ 9.2 293.2 3.4 141.1 (1,093.3) $ (672.9) $ 9.2 293.2 3.4 141.1 (226.0) $ (644.2) $ 9.2 293.2 3.4 141.1 - (197.3) $ (0.68) $ 288.4 (644.2) $ (30.0) 0.3 1.0 31.1 293.2 3.4 141.1 (204.1) S (23.5%) Fiscal 2019 Q3 (1,446.5) $ 9.2 242.2 3.9 86.6 (1,104.6) $ (490.9) $ 9.2 242.2 3.9 86.6 (149.0) $ (463.5) $ 9.2 242.2 3.9 86.6 (121.6) $ (0.41) S 294.8 (463.5) $ (28.7) (0.6) 1.9 30.1 242.2 3.9 86.6 - (128.1) S (13.4%) Q4 (1,398.9) $ 7.5 204.4 2.9 18.8 1.0 (1,164.3) $ (381.8) $ 7.5 204.4 2.9 18.8 1.0 (147.2) S (356.0) $ 7.5 204.4 2.9 18.8 1.0 (121.4) $ (0.41) $ 299.6 (356.0) $ (24.1) 0.3 (2.0) 24.0 204.4 2.9 18.8 1.0 (130.7) S (12.9%) Total (6,318.5) $ 35.1 1,599.3 44.7 270.3 1.0 (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 - (651.8) $ (2.87) $ 227.5 (2,602.2) $ (102.5) (0.1) 2.3 108.3 1,599.3 44.7 270.3 1.0 (678.9) $ (18.8%) Fiscal 2020 Q1 (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) (398.1) 7.3 160.0 9.9 58.4 0.4 64.7 (97.4) (0.32) 304.5 (398.1) (21.3) 3.7 1.6 35.5 160.0 9.9 58.4 0.4 64,7 (85.2) (8.9%) 20#21Reconciliation 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 Contribution Contribution Margin Adjusted EBITDA Net Loss Adjusted to exclude the following: Interest income 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 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 Adjusted Net Loss $ 2020 2020 2020 Three Months Ended March 31, 955.7 (542.4) 2.8 9.7 0.7 58.4 62.5 547.4 57.3% Three Months Ended March 31, (398.1) (21.3) 3.7 1.6 35.5 160.0 9.9 58.4 0.4 64.7 (85.2) (8.9%) (398.1) $ Three Months Ended March 31, 7.3 160.0 9.9 58.4 0.4 64.7 (97.4) $ $ $ 2019 2019 2019 776.0 (462.9) 5.3 41.5 1.2 23.8 384.9 49.6% (1,138.5) (19.7) (0.1) 1.4 23.1 859.5 34.5 23.8 (216.0) (27.8%) (1,138.5) 9.2 859.5 34.5 23.8 (211.5) 21#22lyn Thank you May 6, 2020