#1Maye lyf Q4 Fiscal 2020 Earnings Supplemental Data February 9, 2021 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, and 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 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 2021 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 November 12, 2020 and in our Annual Report on Form 10-K 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 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.#3Key Highlights Q4'20 +14% Sequential revenue growth, at the top end of our initial outlook range (1) 37% Improvement in Q4 Adjusted EBITDA loss versus Q3 $2.3 billion Unrestricted Cash, Cash Equivalents and Short-Term Investments (2) Q4 Revenue of $570 million benefited from temporarily reduced driver incentive spend, outperforming our most recent outlook) Revenue per Active Rider increased 14% versus Q3'20, reflecting fewer new rider activations and a mix shift toward higher frequency riders Contribution Margin of 55.5% was up >500 bps versus Q3'20; excluding unusual tailwinds, Contribution Margin was 53% versus outlook of 51.5% to 52.5%(4) Delivered Q4'20 Adjusted EBITDA loss of $150 million versus most recent outlook of <$185 million (5) ● ● ● Non-GAAP operating expenses decreased from $697 million in Q4'19 to $497 million in Q4'20, driven by strong cost discipline Non-GAAP sales & marketing expense as a percentage of revenue was <15% In Q4 successfully removed $360 million in fixed costs on an annualized basis versus original 2020 plan, exceeding target cost reduction of $300 million by 20% (1) Q4'20 Adjusted EBITDA loss of $150 million compares to Q3'20 Adjusted EBITDA loss of $240 million. As of December 31, 2020. (2) (3) (4) Company outlook for Revenue for Q4'20 was reported in the Form 8-K filed December 2, 2020. Contribution Margin included two unique benefits in Q4'20 related to: reduced driver acquisition and engagement spend ($15 million) and net gains from remarketing Flexdrive vehicles ($6.7 million). Excluding these benefits from revenue and Contribution, Q4'20 Contribution Margin would have been 53%. (5) Company outlook for Adjusted EBITDA for Q4'20 was reported in the Form 8-K filed December 2, 2020. Note: Certain figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. 3#4Key Financial Metrics ($ in millions) $1,017 Q4'19 Revenue $500 Q3'20 $70M $570 Q4'20 Q4'19 ($131) Adjusted EBITDA Q3'20 Q4'20 $90M ($150) ($240) (1) Q4'20 revenue of $570 million increased by $70 million from $500 million in Q3'20. Q4'20 Adjusted EBITDA loss improved by $90 million to a loss of $150 million versus a loss of $240 million in Q3'20. The improvement in Adjusted EBITDA loss divided by the increase in revenue equals 1.28. Note: The figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as reconciliation from GAAP to Non GAAP measures contained in the appendix to this presentation. ($ in millions) $70 Change in Revenue $90 Change in Adjusted EBITDA For every $1 increase in revenue from Q3'20 to Q4'20, Adjusted EBITDA loss improved by (1) 128 cents#5Revenue per Active Rider $45.06 Q1'20 $39.06 Q2'20 +$5.46 $39.94 Q3'20 $45.40 Q4'20 Note: Revenue per Active Rider in Q4'20 increased 2% year-over-year to $45.40 from $44.40 in Q4'19. On a sequential basis, Revenue per Active Rider in Q4'20 grew 14% to $45.40 from $39.94 in Q3'20. The revised presentation from a year-over-year comparison to a sequential comparison is to reflect the effect of the COVID-19 pandemic and recovery trends. Active Riders (in millions) 21.2 Q1'20 8.7 Q2'20 12.5 Q3'20 +0.3% 12.6 Q4'20 Note: Active Riders in Q4'20 declined 45% year-over-year to 12.6M from 22.9M in Q4'19. On a sequential basis, Active Riders in Q4'20 grew 0.3% to 12.6M from 12.5M in Q3'20. The revised presentation from a year-over-year comparison to a sequential comparison is to reflect the effect of the COVID-19 pandemic and recovery trends. 5#6Rideshare Recovery Change in rideshare rides (year-over-year) -75% -70% -61% Q2'20 -54% -53% Apr May Jun Jul -48% -47% Q3'20 -50% Aug Sep Oct Nov Dec Jan -52% -51% Q4'20 Note: Year-over-year change is based on total number of rides on the Company's rideshare platform. Q1'21 Contribution Margin (Non-GAAP) 49.6% 46.0% 50.1% 54.0% FY'19 57.3% Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 34.6% 49.8% 55.5% Q2'20 Q3'20 Q4'20 FY'20 Note: Please see the explanation of non-GAAP measures as well as reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. 6#7Insurance Supplemental#8Insurance Reserves ($ 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 $810,273 (99,551) 23,820 202,442 $936,984 June 30 Fiscal 2019 $936,984 (106,078) 141,122 235,352 $1,207,380 September 30 $1,207,380 (144,290) 86,618 225,227 $1,374,935 Three Months Ended December 31 $1,374,935 (190,709) 18,735 175,501 $1,378,462 Lyft transferred a minority of primary insurance risk, up from zero previously March 31 $1,378,462 (205,946) 58,359 (407,885) 152,142 $975,132 June 30 Fiscal 2020 $975,132 (112,857) 17,410 63,951 $943,636 September 30 $943,636 (111,625) 680 89,937 $922,628 December 31 $922,628 (122,264) 127,690 59,010 $987,064 Lyft transferred a slight majority of primary insurance risk 8#9Reconciliations from GAAP to Non-GAAP and Trended Financial Statements#10Condensed Consolidated Statement of Operations ($ 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) S (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) S (8.48) $ 21.1 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) S (11.58) $ 21.5 Note: Due to rounding, numbers presented may not add up precisely to the totals provided. 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) S (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 Fiscal 2019 Q3 867.3 $ 630.1 152.0 309.8 181.0 267.3 1,540.2 (672.9) 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) S (11.44) $ 227.5 Q1 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) S (1.31) $ 304.5 Q2 339.3 Fiscal 2020 Q3 $ 251.4 98.6 203.1 51.8 221.9 826.8 (487.5) (6.5) 12.1 (481.9) (44.8) (437.1) S (1.41) $ 309.2 499.7 $ 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 Q4 569.9 $ 392.1 98.4 215.2 89.5 228.0 1,023.3 (453.4) (12.1) 4.9 (460.6) (2.5) (458.2) S (1.43) $ 320.3 Total 2,364.7 1,447.5 454.0 909.1 416.3 946.1 4,173.1 (1,808.4) (32.7) 43.7 (1,797.4) (44.5) (1,752.9) (5.61) 312.2 10#11Condensed 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 (loss) Accumulated deficit Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) Current liabilities: 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) Total stockholders' equity (deficit) Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) Note: Due to rounding, numbers presented may not add up precisely to the totals provided. 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 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 4.6 2,020.5 5,152.0 150.0 2.2 (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 6.3 2,427.3 7,999.7 5.5 (4,728.0) 3,277.2 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 $ 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 5,691.4 540.5 $ 975.1 991.4 44.1 2,551.1 305.9 82.1 5.7 25.2 2,745.7 $ 2,837.4 $ 2,964.3 $ 38.8 $ 1,378.5 939.9 94.2 2,451.4 382.1 $ 3.9 8,398.9 2.7 (5,547.6) 2,854.0 Q1 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 $ 5.571.8 Fiscal 2020 Q2 841.1 1,934.9 320.2 3,096.2 210.3 971.8 10.0 353.6 297.2 79.7 182.8 12.8 5,214.4 8,554.5 8,674.2 (1.4) 5.1 (5,945.6) (6,382.8) 2,607.5 2,296.5 $ 48.2 $ 943.6 939.5 48.3 1,979.6 293.0 623.4 21.9 2,917.9 $ Q3 424.8 $ 2,028.6 299.6 2,753.1 115.2 1,199.8 10.0 335.7 284.0 71.8 182.7 16.0 4,968.3 26.0 922.6 1,047.5 49.0 2,045.2 278.8 622.7 18.6 2,965.2 $ 8,838.0 7.3 (6,842.3) 2,003.1 $ 5.214.4 $ 4,968.3 Q4 319.7 1,931.3 343.1 2,594.1 118.6 1,101.7 10.0 313.3 275.8 65.8 182.7 17.0 4,679.0 84.1 987.1 954.0 49.3 2,074.5 265.8 644.2 18.3 3,002.8 8,977.1 (0.5) (7,300.4) 1,676.2 4,679.0 11#12Condensed 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 Amortization of debt discount and issuance costs Deferred income tax Loss on sale and disposal of assets, net Other Changes in operating assets and liabilities, net effects of acquisition: 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 Consolidated Statement of Cash 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 Fiscal 2018 Q3 (32.0) $ (1,676.5) $ 503.7 1,096.0 (8.1) (2.2) (87.1) S 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 $ Note: Due to rounding, numbers presented may not add up precisely to the totals provided. Q4 (248.9) $ 13.3 2.2 (8.3) 3.2 0.7 (19.4) (20.5) 118.5 26.2 (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) 3.2 1.0 (75.6) (40.8) 433.7 304.9 (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) (0.4) 0.1 (46.3) 19.5 1.2 126.7 94.7 (14.3) (84.8) $ (607.2) $ 466.2 838.2 (25.2) (1.7) 670.3 $ Q2 (644.2) $ 31.1 293.2 0.1 (11.3) 0.4 7.6 (0.2) (33.4) 20.5 (23.6) 270.4 117.4 (12.7) 15.3 $ Fiscal 2019 Q3 (2,974.6) $ (105.0) 180.9 553.2 (43.1) 0.8 (0.1) (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 $ Cash Flows (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) (5.1) 12.2 (1.7) 25.5 38.0 5.8 3.5 50.0 (39.1) (46.2) $ (1,612.7) $ (37.8) 199.6 1,414.9 (49.7) 3.1 (10.5) (93.1) $ Total (2,602.2) $ 108.3 1,599.3 0.6 (39.3) (5.1) 36.6 (0.9) (115.9) 108.6 5.1 568.2 333.9 (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) $ 35.5 160.0 0.5 (7.8) 1.4 3.2 0.1 (83.7) 20.3 500.0 (403.3) (26.7) (8.3) (206.9) $ (1,179.3) $ (10.0) (75.0) 406.5 1,661.5 30.0 (34.5) 0.9 (12.4) 787.7 $ Q2 (437.1) $ 44.5 105.8 1.2 (4.0) 4.1 (46.1) 10.8 2.2 155.0 13.1 (495.8) (31.5) (64.5) (9.4) (751.7) $ (1,042.7) $ (288.8) 41.4 Fiscal 2020 Q3 1,291.8 112.8 (21.7) 0.1 92.9 $ (459.5) $ 41.7 166.7 2.4 (1.6) 8.4 0.2 4.2 3.9 13.4 14.1 (19.4) (21.0) 105.8 (15.0) (155.7) $ (1,146.6) (355.0) 28.3 1,058.4 90.0 (14.6) 13.9 (325.6) $ Q4 (458.2) $ 35.7 133.3 2.4 (0.7) 8.6 (1.5) (3.0) (1.8) (45.4) 13.7 59.7 64.4 (51.3) (20.5) (264.6) $ (744.1) $ (391.5) 180.7 734.2 412.8 (22.8) 16.0 0.1 185.4 $ Total (1,752.9) 157.4 565.8 6.5 (14.1) 21.1 (46.0) 15.2 4.4 39.3 61.2 44.5 (391.4) (36.7) (53.2) (1,378.9) (4,112.7) (10.0) (1,110.3) 656.9 4,745.9 645.6 (93.6) 30.9 (12.3) 740.4 12#13Condensed Consolidated ($ 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 Other 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 44.2 972.6 Note: Due to rounding, numbers presented may not add up precisely to the totals provided. Statement of Cash Flows (continued) 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 1.5 (0.4) 1.1 (0.1) (521.3) 1,227.8 706.5 517.7 187.4 1.4 706.5 $ Total 842.7 9.9 (0.4) 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) 563.9 564.5 1,128.4 597.9 529.1 1.4 1,128.4 $ $ Q2 (11.9) 734.1 (0.4) (132.7) 11.9 (11.8) 584.8 (0.4) (74.4) 1,128.4 1,054.0 841.1 210.3 2.6 1,054.0 Fiscal 2020 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 Q4 (15.0) 11.4 (5.7) (12.6) (1.5) (23.4) $ 0.2 (102.4) 540.9 438.5 319.7 118.6 0.2 438.5 Total (50.6) 734.1 (0.8) (132.7) 26.0 (20.2) (41.7) (1.5) 512.6 (0.1) (126.0) 564.5 438.5 319.7 118.6 0.2 438.5 13#14Non-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 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 Note: Due to rounding, numbers presented may not add up precisely to the totals provided. 585.0 $ 321.8 92.4 75.9 241.0 118.7 849.8 (264.8) 20.0 (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) $ 20.8 (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 867.3 468.4 143.8 121.9 168.4 190.8 1,093.3 (226.0) Fiscal 2019 Q3 $ 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 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 Q2 Fiscal 2020 Q3 499.7 $ 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) $ 309.2 250.9 117.6 130.7 71.1 203.6 774.0 (274.2) (12.5) 7.5 (279.3) 1.1 (280.4) $ (0.89) $ 314.5 Q4 569.9 253.9 $ 93.2 130.1 81.7 191.6 750.5 (180.6) (12.1) 4.9 (187.8) (2.5) (185.3) $ (0.58) $ 320.3 Total 2,364.7 1,135.1 427.7 548.4 387.5 750.5 3,249.1 (884.4) (32.7) 43.7 (873.5) (44.5) (828.9) (2.66) 312.2 14#15GAAP to Non-GAAP ($ 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 Non-GAAP Reconciliations 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 $ $ $ S $ $ $ S Q1 $ 397.2 (260.6) 0.3 0.1 - 3.4 140.4 35.3% (59.9) 0.1 0.7 (59.8) $ (62.4) $ (63.1) $ $ $ (168.7) $ 0.1 $ (89.0) $ (168.6) $ (90.2) 0.2 1.0 $ $ Q2 504.9 (293.2) 0.7 0.1 Note: Due to rounding, numbers presented may not add up precisely to the totals provided. 212.5 42.1% (67.4) (67.4) $ 0.5 (64.4) $ (63.9) (175.1) 0.1 (175.0) Fiscal 2018 Q3 $ (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) (75.9) (77.2) $ 0.2 1.1 0.1 $ (241.0) (241.1) $ $ (118.7) $ 304.7 $ (120.3) $ 0.2 1.4 Q4 $ 669.5 (367.0) 2.1 0.1 45.5% (118.6) $ (96.1) 2.0 1.8 (118.6) $ $ 2,156.6 $ (1,243.4) 3.7 0.5 $ 920.8 42.7% (92.3) $ $ (218.9) $ 0.5 3.5 (218.4) $ (135.1) (139.0) $ 0.1 0.3 Total - (338.4) 0.2 (338.2) $ $ (300.8) $ 2.2 4.1 $ (294.5) $ (803.0) (803.8) $ 0.5 0.3 3.5 $ (440.3) Q1 776.0 $ (462.9) 5.3 41.5 1.2 23.8 $ 384.9 49.6% (187.2) $ 51.4 2.4 (133.4) (631.0) $ 2.9 506.2 14.3 (107.6) (275.1) 0.3 (448.0) $ (376.7) 0.7 0.7 3.5 215.3 13.9 45.1 2.7 $ $ (227.0) $ (146.8) $ $ $ Q2 867.3 (630.1) 5.3 15.1 0.2 141.1 (152.0) 8.2 398.9 $ 479.2 46.0% 50.1% Fiscal 2019 Q3 $ (121.9) (143.8) $ $ (309.8) $ 2.9 182.9 2.1 (190.8) $ (181.0) $ 0.3 12.1 0.2 (168.4) $ (267.3) $ 0.7 74.9 0.9 $ 955.6 $ 1,017.1 (580.7) (502.8) 5.3 12.1 0.3 86.6 (149.8) 8.6 0.2 (141.0) $ $ (288.3) $ 2.9 153.8 2.1 $ (129.5) $ (155.3) (163.9) $ 0.3 8.0 0.3 (263.8) 0.7 59.7 1.0 (202.4) Q4 $ $ 3.6 12.7 0.1 18.8 (147.1) 7.0 0.1 549.5 $ 1,812.5 $ 54,0% 50.1% (142.9) $ (186.9) $ 3,616.0 (2,176.5) 19.5 81.4 1.8 270.3 $ (140.0) $ (558.2) (276.6) $ (1,505.7) 3.0 129.0 1.7 11.7 971.9 20.2 (194.2) $ 0.3 6.8 0.2 - (226.9) $ Total (278.2) $ 0.6 48.9 0.8 1.0 $ (636.1) $ 75.2 2.7 (501.9) (737.6) $ (1,186.0) 2.7 398.8 16.6 1.0 (814.2) $ 1.2 72.0 3.4 (766.9) $ $ 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 4.8 0.5 (153.8) $ (196.4) $ 0.3 (190.8) $ $ (238.5) $ 1.3 45.8 1.9 0.4 2.2 $ (186.9) $ Q2 339.3 (251.4) 3.7 4.5 0.3 17.4 3.5 117.3 34.6% (98.6) (203.1) 2.9 1.5 0.3 9.2 (87.6) $ 52.2 2.9 11.3 (133.8) (51.8) 0.3 4.4 0.3 3.0 (43.8) (221.9) 1.7 43.2 1.2 $ - 7.5 (168.3) $ $ $ $ Fiscal 2020 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) (130.7) (232.1) $ 2.9 96.2 2.3 (71.1) $ (257.7) 1.7 51.3 1.1 $ (78.5) $ 0.3 6.9 0.2 (203.6) $ $ $ $ Q4 569.9 (392.1) 2.8 7.5 0.2 127.7 316.0 55.5% (98.4) 4.9 0.2 0.1 (93.2) (130.1) (89.5) 0.3 7.3 0.3 (81.7) $ (215.2) $ 0.8 81.6 2.7 2,364.7 (1,447.5) 12.0 28.7 1.5 204.1 62.5 3.5 $ 1,229.5 52.0% 1.4 (191.6) $ $ $ $ (228.0) $ 1.6 32.0 1.4 Total $ (454.0) 15.8 1.1 9.4 (427.7) (909.1) 9.6 325.6 14.3 11.3 (548.4) (416.3) 1.2 23.4 1.2 3.0 (387.5) (946.1) 6.3 172.2 5.6 0.4 2.2 8.9 (750.5) 15#16GAAP 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 Fintangible 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 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 acquisitions Transfer of certain legacy auto insurance liabilities Restructuring charges $ $ $ $ $ $ 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) 20.0 (234.3) $ (11.4) 0.4 1.2 2.0 3.4 $ (238.7) $ (60.1%) Adjusted EBITDA Adjusted EBITDA Margin Note: Due to rounding, numbers presented may not add up precisely to the totals provided. Q2 (698.6) 0.9 1.5 (696.2) (193.7) 0.9 1.5 (191.3) (178.9) 0.9 1.5 (178.9) (15.0) 0.2 1.7 1.5 Fiscal 2018 Q3 (853.7) 1.0 2.9 (190.5) (37.7%) $ $ (176.5) $ (8.37) $ 21.1 $ $ $ (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) (270.1) $ 4.7 2.2 3.5 (259.7) $ (248.9) $ 4.7 2.2 3.5 (238.5) (10.82) 22.0 (248.9) (20.8) (0.4) 13.3 2.2 3.5 (251.1) (37.5%) Total (3,134.4) 7.1 8.6 3.4 3.5 - (977.8) $ (1,156.9) 7.1 9.2 859.5 8.6 34.5 23.8 3.4 3.5 (3,111.8) $ (1,005.9) $ (1,093.3) (911.3) 7.1 8.6 3.4 3.5 (955.2) $ (229.9) $ (888.7) (41.97) $ 21.2 Q1 (1,932.9) 9.2 859.5 34.5 23.8 (67.2) 0.7 18.8 8.6 3.4 3.5 (943.5) (43.7%) $ (211.5) (9.02) 23.5 $ (1,138.5) $ 9.2 859.5 34.5 23.8 (19.8) 1.4 23.1 859.5 34.5 23.8 $ Q2 (1,540.2) 9.2 293.2 3.4 141.1 (216.0) $ (27.8%) (672.9) 9.2 293.2 3.4 141.1 (911.3) $ (1,138.5) $ (644.2) 293.2 3.4 141.1 Fiscal 2019 Q3 $ (1,446.5) 9.2 242.2 3.9 86.6 (226.0) $ $ (1,104.6) (644.2) $ 9.2 (29.7) 1.0 31.1 293.2 3.4 141.1 $ (490.9) $ 9.2 (197.3) $ (0.68) $ 288.4 $ 242.2 3.9 86.6 (149.0) $ (463.5) $ 9.2 242.2 3.9 86.6 (121.6) (0.41) $ 294.8 (463.5) $ (1,164.3) (29.3) 1.9 30.1 242.2 3.9 86.6 (204.1) $ (128.1) (23.5%) (13.4%) Q4 (1,398.9) 7.5 204.4 2.9 18.8 1.0 $ (147.2) (356.0) 7.5 204.4 2.9 18.8 1.0. (121.4) (0.41) 299.6 (356.0) (381.8) $ (2,702.5) $ (414.1) $ 7.5 35.1 7.3 204.4 1,599.3 160.0 2.9 44.7 18.8 1.0 9.9 270.3 58.4 1.0 0.4 64.7 (23.8) (2.0) 24.0 204.4 2.9 18.8 1.0 Total $ (6,318.5) 35.1 1,599.3 44.7 270.3 1.0 (130.7) (12.9%) $ (4,368.1) (752.1) (651.8) (2.87) 227.5 $ (2,602.2) $ $ (2,602.2) $ 35.1 1,599.3 44.7 270.3 1.0 (102.6) 2.3 108.3 1.599,3 44.7 270.3 1.0 (678.9) (18.8%) $ (1,069.1) $ $ Q1 (1,369.8) 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 1.5 (19.1) 1.6 35.5 160.0 9.9 58.4 0.4 64.7 $ (398.1) $ (85.2) (8.9%) $ Q2 (826.8) 8.6 105.8 5.0 17.4 34.5 (655.5) $ (487.5) $ 8.6 105.8 5.0 17.4 34.5 (316.2) (437.1) 8.6 105.8 5.0 17.4 34.5 (265.8) (0.86) 309.2 (437.1) $ 7.0 (12.1) (44.8) 44.5 105.8 5.0 17.4 34.0 (280.3) (82.6%) $ $ $ $ Fiscal 2020 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 $ 13.1 (7.5) 1.1 41.7 166.7 4.0 0.7 (239.7) (48.0%) $ $ (459.5) $ $ Q4 (1,023.3) 5.5 133.3 4.8 127.7 1.5 (750.5) $ $ 1.5 (180.6) $ (458.2) $ 5.5 133.3 4.8 127,7 (453.4) $ (1,808.4) 5.5 29.2 133.3 565.8 4.8 23.7 127.7 1.5 (185.3) (0.58) $ 320.3 (458.2) 12.6 (4.9) (2.5) 35.7 133.3 4,8 127.7 1.5 (150.0) (26.3%) Total $ (4,173.1) 29.2 565.8 23.7 204.1 0.4 64.7 36,0 (3,249.1) 204.1 0.4 64.7 36.0 (884.4) (1,752.9) 29.2 565.8 23.7 204.1 0.4 64.7 36.0 (828.9) (2.66) 312.2 (1,752.9) 34.3 (43.7) (44.5) 157.4 565.8 23.7 204.1 0.4 64.7 35.5 (755.2) (31.9%) 16#17Reconciliation 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 expenso 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 December 31, 2020 2020 569.9 $ (392.1) 2.8 7.5 0.2 127.7 2020 316.0 55.5% Three Months Ended December 31, (458.2) 12.6 (4.9) (2.5) 35.7 133.3 4.8 127.7 1.5 (150.0) (26.3%) Three Months Ended December 31, (458.2) $ 5.5 133.3 $ 4.8 127.7 2019 15 (185.3) (0.58) 320.3 2019 2019 1,017.1 (502.8) 3.6 12.7 0.1 18.8 549.5 54.0% (356.0) (23.8) (2.0) 24.0 204.4 2.9 18.8 1.0 (130.7) (12.9%) (356.0) 7.5 204.4 2.9 18.8 1.0 (121.4) (0.41) 299.6 17#18Reconciliation of GAAP to Non-GAAP Financial Measures (continued) ($ 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. 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 Not Loss Adjusted Net Loss per share, basic and diluted Weighted-average shares used compute net loss per share, basic and diluted Note: Due to rounding, numbers presented may not add up precisely to the totals provided. 2020 2020 2020 Year Ended December 31, 2,364.7 (1,447.5) 12.0 28.7 1.5 204.1 62.5 3.5 1,229.5 52.0% Year Ended December 31, (1,752.9) $ ******** 34.3 (43.7) (44.5) 157.4 565.8 23.7 204.1 64.7 35.5 (755.2) (31.9%) Year Ended December 31, (1,752.9) 29.2 565.8 23.7 204.1 0.4 64.7 36.0 (828.9) (2.66) 312.2 $ 2019 2019 2019 3,616.0 (2,176.5) 19.5 81.4 1.8 270.3 1,812.5 50.1% (2,602.2) (102.6) 2.3 108.3 1,599.3 44.7 270.3 1.0 (678.9) (18.8%) (2,602.2) 35.1 1,599.3 44.7 270.3 1.0 (651.8) (2.87) 227.5 18#19Thank you. lyf