#1Uber Technologies, Inc. Q3 2023 Earnings Supplemental Data November 7, 2023#2Non-GAAP Financial Measures Disclosure To supplement our financial information, which is prepared and presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, we use the following non-GAAP financial measures: Adjusted EBITDA; Non-GAAP Costs and Operating Expenses; Delivery business model change impact on Revenue; Mobility business model change impact on Revenue; Delivery business model change impact on Cost of Revenue; Mobility business model change impact on Cost of Revenue; Free Cash Flow; Free Cash Flow, excluding HMRC VAT payments as well as revenue growth rates in constant currency. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We use these non- GAAP financial measures for financial and operational decision- making and as a means to evaluate period-to-period comparisons. We believe that these non-GAAP financial measures provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our recurring core business operating results. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting, and analyzing future periods. These non-GAAP financial measures also facilitate management's internal comparisons to our historical performance. We believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by our institutional investors and the analyst community to help them analyze the health of our business. There are a number of limitations related to the use of non- GAAP financial measures. In light of these limitations we provide specific information regarding the GAAP amounts excluded from these non-GAAP financial measures and evaluating these non-GAAP financial measures together with their relevant financial measures in accordance with GAAP. For more information on these non-GAAP financial measures, please see the section titled "Non-GAAP Reconciliations" included at the end of this deck. In regards to forward looking non-GAAP guidance provided on our Q3 2023 earnings release and call, we are not able to reconcile the forward-looking non-GAAP Adjusted EBITDA measure to the closest corresponding GAAP measure without unreasonable efforts because we are unable to predict the ultimate outcome of certain significant items. These items include, but are not limited to, significant legal settlements, unrealized gains and losses on equity investments, tax and regulatory reserve changes, restructuring costs and acquisition and financing related impacts. 2#3Forward Looking Statements This presentation contains forward-looking statements regarding our future business expectations, which involve risks and uncertainties. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Forward- looking statements include all statements that are not historical facts and can be identified by terms such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "hope," "intend," "may," "might," "objective," "ongoing," "plan," "potential," "predict," "project," "should," "target," "will," or "would" or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors relate to, among others: competition, managing our growth and corporate culture, financial performance, investments in new products or offerings, our ability to attract drivers, consumers and other partners to our platform, our brand and reputation, other legal and regulatory developments, particularly with respect to our relationships with drivers and couriers, and the impact of the global economy, including rising inflation and interest rates. In addition, other potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our annual report on Form 10-K for the year ended December 31, 2022 and subsequent annual reports, quarterly reports and other filings filed with the Securities and Exchange Commission from time to time. All information provided in this presentation is as of the date hereof and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of such date. We undertake no duty to update this information unless required by law. 3#4Platform and Business Highlights Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Uber Q3 2023 Earnings 4#5Platform Highlights 19:41 You matched with a taxi Uber UberX is designed to give you faster pickups by including taxis. O W 12TH ST Fiddlesticks You matched with a taxi By including taxis, UberX is designed to give you faster pickups for the same price. W 13TH ST Pay and tip in the Uber app Screenings, features, and vehicle requirements differ for NYC taxis Uber By choosing Accept taxi, or by allowing the timer to expire, you agree to ride in a taxi. Learn more Accept taxi (0:10) Wait for UberX Taxis Q3 2023 Earnings 9:41 Lenox Health Greenwich Village The Waverly Inn O Fiddlesticks. Pub & Grill Rosemary 101 WI Pickup spot Send a message Meet at your pickup spot on West 12th St. 2. Anderson Top-rated driver W 14TH ST 4TH ST W 9TH ST 5TH W 107 O Parsons So of De About UberX and taxis UberX is designed to give you faster pickups by including taxis. 2 3M53AF2 Yellow Honda Civic Taxi #1H73 Launched taxi products in New York City and Los Angeles, giving riders an upfront fare while sending more demand to taxi drivers Ⓡ ✪ Membership 15 million members Uber One ★ 181 NK Launched Uber One in Colombia, Peru and Portugal, now available in 18 markets Uber Advertising DA Scan here for your next dream vacation. C Ex NCL NORWEGIAN CRUISE LINES Brightness 10:10 AM 05/05/2022 Expanded in-car tablet advertising to new US markets and Post Checkout ads on Uber Eats internationally 5#6Product Spotlight: Uber Moto Expanding our addressable market by innovating through low-cost products Uber ● ● Available in select cities across 20 countries Trips up 100%+ YOY¹ Significant earner base, with Uber Moto active drivers up 60%+ YOY¹ Strong customer acquisition channel, as 40% of Uber Moto riders go on to take another Mobility product¹ Q3 2023 Earnings CARA 1. As of Q3 2023. Economy Choose a ride UberGo 6:07pm Affordable, compact rides Go Sedan 6:06pm Affordable rides in a sedan €113.72 €137.01 UberAuto. 6:06pm No bargaining, doorstep pick up ● ₹112.06 €135.00 UberXI Moto Affordable motorcycle rides Premier 6:06pm Select sedans, top-rated drivers Personal MasterCard 5532 68.28 84.28 €112.06 €135.00 173.21 28.45 €34.27 6#7Platform and Business Highlights Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Uber Q3 2023 Earnings 7#8Operating Metrics In Millions MAPCS Trips Monthly Trips / MAPC Uber Q3 2023 Earnings 124 Q3 2022 1,953 Q3 2022 5.3 131 Q4 2022 2,104 Q4 2022 5.4 130 Q1 2023 2,124 Q1 2023 5.4 137 Q2 2023 2,282 Q2 2023 5.6 142 Q3 2023 2,441 Q3 2023 5.7 +15% MAPCS Growth YoY +25% Trips Growth YoY Note 1: MAPCs is the number of unique consumers who completed a Mobility ride or received a Delivery order on our platform at least once in a given month, averaged over each month in the quarter. Note 2: We define Trips as the number of completed consumer Mobility rides and Delivery orders in a given period. 8#9Gross Bookings $ in Millions $29,119 Q3 2022 26% 32% Uber Q3 2023 Earnings $30,749 Q4 2022 19% 26% $31,408 Q1 2023 19% 22% $33,601 Q2 2023 16% 18% $35,281 Q3 2023 21% 20% +20% Gross Bookings Constant Currency Growth YoY % Growth YoY % Constant Currency Growth YoY Note 1: We define Gross Bookings as the total dollar value, including any applicable taxes, tolls, and fees, of Mobility rides, Delivery orders, and amounts paid by Freight shippers, in each case without any adjustment for consumer discounts and refunds, Driver and Merchant earnings, and Driver incentives. Gross Bookings do not include tips earned by Drivers. Note 2: "% Constant Currency Growth YoY" is calculated by translating our current period financial results using the corresponding prior period's monthly exchange rates for our transacted currencies other than the U.S. dollar. 9#10Revenue $ in Millions $8,343 Q3 2022 72% 81% Uber Q3 2023 Earnings $8,607 Q4 2022 49% 59% $8,823 Q1 2023 29% 33% $9,230 Q2 2023 14% 17% Note 1: Refer to page 27 ("Business Model Change Impacts to Revenue") for more details Note 2: See Non-GAAP reconciliations for reconciliation of non-GAAP measures. $9,292 Q3 2023 11% 10% % Growth YoY % Constant Currency Growth YoY 10#11Adjusted EBITDA $ in Millions 1.8% Uber $516 Q3 2022 Q3 2023 Earnings 2.2% $665 Q4 2022 2.4% $761 Q1 2023 2.7% $916 Q2 2023 3.1% $1,092 Q3 2023 +$576M YoY improvement in Adjusted EBITDA Adjusted EBITDA Margin as a % of Gross Bookings Note 1: We define Adjusted EBITDA as net income (loss), excluding (i) income (loss) from discontinued operations, net of income taxes, (ii) net income (loss) attributable to non-controlling interests, net of tax, (iii) provision for (benefit from) income taxes, (iv) income (loss) from equity method investments, (v) interest expense, (vi) other income (expense), net, (vii) depreciation and amortization, (viii) stock-based compensation expense, (ix) certain legal, tax, and regulatory reserve changes and settlements, (x) goodwill and asset impairments/loss on sale of assets, (xi) acquisition and financing related expenses, (xii) restructuring and related charges and (xiii) other items not indicative of our ongoing operating performance, including COVID-19 response initiatives related payments for financial assistance to Drivers personally impacted by COVID-19, the cost of personal protective equipment distributed to Drivers, Driver reimbursement for their cost of purchasing personal protective equipment, the costs related to free rides and food deliveries to healthcare workers, seniors, and others in need as well as charitable donations. Note 2: We define Adjusted EBITDA margin as a percentage of Gross Bookings as Adjusted EBITDA divided by Gross Bookings. Note 3: See Non-GAAP reconciliations for reconciliation of non-GAAP measures. 11#12Platform and Business Highlights Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Uber Q3 2023 Earnings 12#13Mobility Highlights $ in Millions Gross Bookings % Constant Currency Growth YoY Revenue % Constant Currency Growth YoY Adjusted EBITDA Uber Q3 2023 Earnings $13,684 45% 27.9% O $3,822 83% 6.6% O $898 Q3 2022 $14,894 37% 27.8% $4,136 94% 6.8% $1,012 Q4 2022 $14,981 43% 28.9% $4,330 78% 7.1% $1,060 Q1 2023 Note 1: Refer to page 27 ("Business Model Change Impacts to Revenue") for more details Note 2: Revenue Margin is defined as Revenue as a percentage of Gross Bookings. Note 3: See Non-GAAP reconciliations for reconciliation of non-GAAP measures. Note 4: All measures are for Mobility segment unless otherwise noted. $16,728 28% 29.3% $4,894 40% 7.0% $1,170 Q2 2023 $17,903 30% 28.3% $5,071 31% 7.2% $1,287 Q3 2023 +30% Gross Bookings Constant Currency Growth YoY Revenue Margin Adjusted EBITDA: Segment Adjusted EBITDA Margin as a % of Gross Bookings 13#14Delivery Highlights $ in Millions Gross Bookings % Constant Currency Growth YoY Revenue % Constant Currency Growth YoY Adjusted EBITDA Uber Q3 2023 Earnings $13,684 13% 20.2% $2,770 33% 1.3% O 181 Q3 2022 $14,315 14% 20.5% $2,931 33% 1.7% 241 Q4 2022 $15,026 12% 20.6% $3,093 29% 1.9% 288 Q1 2023 Note 1: Refer to page 27 ("Business Model Change Impacts to Revenue") for more details Note 2: Revenue Margin is defined as Revenue as a percentage of Gross Bookings. Note 3: See Non-GAAP reconciliations for reconciliation of non-GAAP measures. Note 4: All measures are for Delivery segment unless otherwise noted. $15,595 14% 19.6% $3,057 17% 2.1% 329 Q2 2023 $16,094 16% 18.2% $2,935 5% 2.6% O 413 Q3 2023 +$232M YoY improvement in Adjusted EBITDA Revenue Margin Adjusted EBITDA: Segment Adjusted EBITDA Margin as a % of Gross Bookings 14#15Freight Highlights $ in Millions Revenue % Constant Currency Growth YoY Adjusted EBITDA Uber Q3 2023 Earnings $1,751 336% $1 O 0.1% Q3 2022 $1,540 43% ($8) (0.5%) Q4 2022 $1,400 (23%) ($23) (1.6%) Q1 2023 $1,279 (30%) ($14) (1.1%) Q2 2023 $1,286 Note 1: See Non-GAAP reconciliations for reconciliation of non-GAAP measures. Note 2: All measures are for Freight segment unless otherwise noted. Note 3: Since Q4 2021, Revenue includes contributions from the acquisition of Transplace which closed on November 12, 2021 (27%) ($13) (1.0%) Q3 2023 Adjusted EBITDA: Segment Adjusted EBITDA Margin as a % of Revenue 15#16Platform and Business Highlights Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Uber Q3 2023 Earnings 16#17Condensed Consolidated Statements of Operations (Unaudited) $ in Millions, except share amounts, which are in thousands, and per share amounts Uber Q3 2023 Earnings Revenue Costs and expenses Cost of revenue, exclusive of depreciation and amortization shown separately below Operations and support Sales and marketing Research and development General and administrative Depreciation and amortization Total costs and expenses Income (loss) from operations Interest expense Other income (expense), net Income (loss) before income taxes and income from equity method investments Provision for (benefit from) income taxes Income from equity method investments Net income (loss) including non-controlling interests Less: net income (loss) attributable to non-controlling interests, net of tax Net income (loss) attributable to Uber Technologies, Inc. Net income (loss) per share attributable to Uber Technologies, Inc. common stockholders: Basic Diluted Weighted-average shares used to compute net income (loss) per share attributable to common stockholders: Basic Diluted Three Months Ended Sept 30, 2022 $8,343 5,173 617 1,153 760 908 227 $8,838 ($495) (146) (535) (1,176) 58 30 (1,204) 2 ($1,206) ($0.61) ($0.61) 1,979,299 1,979,299 2023 $9,292 5,626 683 941 797 646 205 $8,898 $394 (166) (52) 176 (40) 3 219 (2) $221 $0.11 $0.10 2,044,688 2,108,479 Nine Months Ended Sept 30, 2022 $23,270 14,352 1,808 3,634 2,051 2,391 724 $24,960 ($1,690) (414) (7,796) (9,900) (97) 65 (9,738) (2) ($9,736) ($4.96) ($4.97) 1,964,483 1,968,228 2023 $27,345 16,400 1,987 3,421 2,380 2,079 620 $26,887 $458 (478) 513 493 80 43 456 (2) $458 $0.23 $0.20 2,027,148 2,080,686 17#18Condensed Consolidated Balance Sheets (Unaudited) $ in Millions Uber Q3 2023 Earnings Assets Cash and cash equivalents Short-term investments Restricted cash and cash equivalents Accounts receivable, net Prepaid expenses and other current assets Total current assets Restricted cash and cash equivalents Restricted investments Investments Equity method investments Property and equipment, net Operating lease right-of-use assets Intangible assets, net Goodwill Other assets Total assets As of December 31, 2022 $4,208 103 680 2,779 1,479 $9,249 1,789 1,614 4,401 870 2,082 1,449 1,874 8,263 518 $32,109 As of September 30, 2023 $4,448 725 833 3,000 1,673 $10,679 1,584 3,944 5,091 50 2,100 1,259 1,511 8,140 1,591 $35,949 18#19Continued: Condensed Consolidated Balance Sheets (Unaudited) $ in Millions Uber Q3 2023 Earnings Liabilities, redeemable non-controlling interests and equity Accounts payable Short-term insurance reserves Operating lease liabilities, current Accrued and other current liabilities Total current liabilities Long-term insurance reserves Long-term debt, net of current portion Operating lease liabilities, non-current Other long-term liabilities Total liabilities Redeemable non-controlling interests Equity Common stock Additional paid-in capital Accumulated other comprehensive loss Accumulated deficit Total Uber Technologies, Inc. stockholders' equity Non-redeemable non-controlling interests Total equity Total liabilities, redeemable non-controlling interests and equity As of December 31, 2022 $728 1,692 201 6,232 $8,853 3,028 9,265 1,673 786 $23,605 430 40,550 (443) (32,767) $7,340 734 $8,074 $32,109 As of September 30, 2023 $799 1,823 174 6,609 $9,405 4,337 9,252 1,565 871 $25,430 394 42,147 (480) (32,309) $9,358 767 $10,125 $35,949 19#20Summary of liquidity position and equity stakes Liquidity Position Uber Q3 2023 Earnings $5.2B Unrestricted cash, cash equivalents, and short-term investments Equity Stakes (Carrying value) Other Joby Aurora Grab Didi $5.1B $0.4B $0.2B $0.8B $1.9B $1.8B Uber's Ownership Position DiDi Grab Aurora JOBYⓇ Lime Note 1: Liquidity position excluding revolver. As of September 30, 2023, undrawn revolver provides an additional liquidity of $2.3B, net of letters of credit. Additionally, Uber's long-term debt was roughly $9.3 billion. Note 2: All equity stakes and dollar ownership amounts based on carrying value as of September 30, 2023, which may be different than potential market transaction values. Note 3: As of September 30, 2023, Uber owns approximately 536M shares of Grab, 326M shares of Aurora, 26M shares of Joby, and 144M ordinary shares of Didi (each ADS listed in the OTC market represents 0.25 ordinary shares). Note 4: Ownership stake percentages as of September 30, 2023 and based on a fully diluted basis. ~12% ~14% ~22% ~4% ~29% 20#21Condensed Consolidated Statements of Cash Flows (Unaudited) $ in Millions Uber Q3 2023 Earnings Cash flows from operating activities Net income (loss) including non-controlling interests Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization Bad debt expense Stock-based compensation Gain on business divestitures Deferred income taxes Income from equity method investments, net Unrealized (gain) loss on debt and equity securities, net Loss from sale of investment Impairments of goodwill, long-lived assets and other assets Impairment of equity method investment Revaluation of MLU B.V. call option Unrealized foreign currency transactions Other Change in assets and liabilities, net of impact of business acquisitions and disposals: Accounts receivable Prepaid expenses and other assets Operating lease right-of-use assets Accounts payable Accrued insurance reserves Accrued expenses and other liabilities Operating lease liabilities Net cash provided by operating activities Three Months Ended Sept 30, 2022 ($1,204) 227 25 482 (14) 16 (30) 550 (10) 15 7 (90) (115) 47 (35) 159 483 (81) $432 2023 $219 205 19 492 16 (3) 96 71 (36) (518) (948) 47 112 501 740 (47) $966 Nine Months Ended Sept 30, 2022 ($9,738) 724 76 1,311 (14) (251) (65) 7,797 15 182 (180) 25 5 (219) (57) 142 (80) 485 897 (169) $886 2023 $456 620 63 1,466 32 (43) (610) 74 77 156 (25) (363) (1,181) 141 86 1,439 511 (137) $2,762 21#22Continued: Condensed Consolidated Statements of Cash Flows (Unaudited) $ in Millions Uber Q3 2023 Earnings Cash flows from investing activities Purchases of property and equipment Purchases of non-marketable equity securities Purchases of marketable securities Proceeds from maturities and sales of marketable securities Proceeds from sale of equity method investment Proceeds from business divestiture Acquisition of businesses, net of cash acquired Other investing activities Net cash provided by (used in) investing activities Cash flows from financing activities Issuance of term loans and notes, net of issuance costs Principal repayment on term loan and notes Principal repayments on Careem Notes Principal payments on finance leases Proceeds from the issuance of common stock under the Employee Stock Purchase Plan Proceeds from issuance and sale of subsidiary stock units Other financing activities Net cash provided by (used in) financing activities Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents Net increase (decrease) in cash and cash equivalents, and restricted cash and cash Cash and cash equivalents, and restricted cash and cash equivalents Beginning of period End of period Three Months Ended Sept 30, 2022 ($74) 376 26 (7) $321 I (39) 255 (4) $212 (195) $770 7,864 $8,634 2023 ($61) (22) (3,723) 1,366 18 6 ($2,416) (6) (25) (36) (9) ($76) (69) ($1,595) 8,460 $6,865 Nine Months Ended Sept 30, 2022 ($193) (14) 376 26 (59) (4) $132 (147) 59 255 (63) $104 (293) $829 7,805 $8,634 2023 ($168) (42) (5,930) 2,993 721 19 ($2,407) 1,121 (1,150) (25) (118) 85 (54) ($141) (26) $188 6,677 $6,865 22#23Platform and Business Highlights Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Uber Q3 2023 Earnings 23#24Adjusted EBITDA Reconciliation (Unaudited) $ in Millions Mobility Delivery Freight Corporate G&A and Platform R&D Adjusted EBITDA Add (deduct): Legal, tax, and regulatory reserve changes and settlements Goodwill and asset impairments/loss on sale of assets Restructuring and related charges Gain on lease arrangements, net Acquisition, financing and divestitures related expenses Accelerated lease costs related to cease-use of ROU assets Depreciation and amortization Stock-based compensation expense Other income (expense), net Interest expense Income from equity method investments (Provision for) benefit from income taxes Net (income) loss attributable to non-controlling interests, net of tax Net income (loss) attributable to Uber Technologies, Inc. Uber Q3 2023 Earnings Sep 30, '22 $898 181 1 (564) $516 (283) (19) (227) (482) (535) (146) 30 (58) (2) ($1,206) Dec 31, '22 $1,012 241 (8) (580) $665 (81) (8) (7) (6) (223) (482) 767 (151) 42 84 (5) $595 Three Months Ended Mar 31, '23 $1,060 288 (23) (564) $761 (250) (67) (22) 1 (8) (207) (470) 292 (168) 36 (55) ($157) Jun 30, '23 $1,170 329 (14) (569) $916 155 (16) (9) 2 (10) (208) (504) 273 (144) 4 (65) $394 Sep 30, ¹23 $1,287 413 (13) (595) $1,092 13 (2) (4) 1 (9) (205) (492) (52) (166) 3 40 2 $221 24#25Non-GAAP Costs and Operating Expenses Reconciliations (Unaudited) $ in Millions Revenue GAAP Cost of Revenue, excluding D&A Acquisition, financing, and divestitures related expenses Legal, tax, and regulatory reserve changes and settlements Non-GAAP Cost of Revenue Non-GAAP Operating Expenses GAAP Operations and support Restructuring and related charges Acquisition, financing and divestitures related expenses Gain on lease arrangements, net Stock-based compensation Non-GAAP Operations and support Uber Q3 2023 Earnings Sep 30, '22 $8,343 5,173 (5) $5,168 $617 (41) $576 Dec 31, '22 $8,607 5,307 $5,307 $605 (1) (40) $564 Three Months Ended Mar 31, ¹23 $8,823 5,259 $5,259 $640 (8) (3) (38) $591 Jun 30, '23 $9,230 5,515 $5,515 $664 (1) (3) 1 (45) $616 Sep 30, '23 $9,292 5,626 13 $5,639 $683 (2) (2) (49) $630 Note 1: Quarterly trends for cost of revenue are not directly comparable due to the classification of certain Delivery and Mobility payments and incentives as cost of revenue attributable to business model changes in some countries. 25#26Continued: Non-GAAP Costs and Operating Expenses Reconciliations (Unaudited) $ in Millions GAAP Sales and marketing Restructuring and related charges Stock-based compensation Non-GAAP Sales and marketing GAAP Research and development Restructuring and related charges Stock-based compensation Non-GAAP Research and development GAAP General and administrative Legal, tax, and regulatory reserve changes and settlements Goodwill and asset impairment/loss on sale of assets Restructuring and related charges Gain on lease arrangements, net Acquisition, financing, and divestitures related expenses Accelerated lease costs related to cease-use of ROU asssets Stock-based compensation Non-GAAP General and administrative Uber Q3 2023 Earnings Sep 30, '22 $1,153 (26) $1,127 $760 (292) $468 $908 (283) (14) (123) $488 Dec 31, '22 $1,122 (26) $1,096 $747 (295) $452 $745 (81) (8) (6) (6) (121) $523 Three Months Ended Mar 31, '23 $1,262 (1) (24) $1,237 $775 (11) (290) $474 $942 (250) (67) (2) 1 (5) (118) $501 Jun 30, '23 $1,218 (26) $1,192 $808 (3) (317) $488 $491 155 (16) (5) 1 (7) (116) $503 Sep 30, '23 $941 (1) (24) $916 $797 (310) $487 $646 (2) (1) 1 (7) (109) $528 26#27Business Model Change Impact on Revenue $ in Millions Mobility Gross Bookings Revenue Reported Revenue Margin Mobility business model change impact Impact on Revenue Margin Delivery Gross Bookings Revenue Reported Revenue Margin Delivery business model change impact* Impact on Revenue Margin* Uber Q3 2023 Earnings Sep 30, '22 $13,684 $3,822 27.9% $1,053 7.7% Sep 30, '22 $13,684 $2,770 20.2% $759 5.5% Dec 31, '22 $14,894 $4,136 27.8% $1,189 8.0% Dec 31, '22 $14,315 $2,931 20.5% $839 5.9% Three Months Ended Mar 31, '23 $14,981 $4,330 28.9% $1,126 7.5% Three Months Ended Mar 31, '23 $15,026 $3,093 20,6% $833 5.5% Jun 30, '23 $16,728 $4,894 29.3% $1,360 8.1% Jun 30, '23 $15,595 $3,057 19.6% $722 4.6% Sep 30, '23 $17,903 $5,071 28.3% $1,315 7.3% Sep 30, 23 $16,094 $2,935 18.2% $502 3.1% Business model changes since Q1'20 have triggered changes in classification of certain costs, including payments to drivers or couriers and promotions to platform users or earners. The Business Model Change Impact line item presented on this page represents the net benefit to revenue for each of the periods presented as a result of the changes. The net benefits are primarily driven by the classification of certain payments and incentives as cost of revenue, partially offset by the classification of certain sales and marketing costs as contra revenue. In aggregate, the changes have no real economic change to operating income or Adjusted EBITDA. Note 1: The first business model change began in Q1'20 in certain markets and expanded to additional markets over time. The changes resulted in us being the principal of providing delivery services where certain courier payments and incentives are classified as cost of revenue and end-user promotions are recorded in contra revenue. The second business model change began in Q1'22 which impacted our Mobility business in the UK. The model change resulted in us being the principal for providing transportation services where certain driver payments and incentives are classified as cost of revenue and end-user promotions are recorded in contra revenue. The third business model change began in Q2'23 in certain markets and expanded to additional markets. The changes resulted in end-users becoming our customers whereby incentive costs for customers are recorded in contra revenue instead of sales and marketing expense. Note 2: Prior period Delivery business model change impacts have been updated to be consistent with current period's presentation. 27#28Business Model Change Impact on Cost of Revenue $ in Millions GAAP Cost of Revenue Non-GAAP Cost of Revenue¹ Non-GAAP Cost of Revenue (% of Gross Bookings) Delivery business model change impact Mobility business model change impact Total business model change impact Impact on Cost of Revenue Uber Q3 2023 Earnings Sep 30, '22 $5,173 $5,168 17.7% $1,011 $804 $1,815 6.2% Dec 31, '22 $5,307 $5,307 17.3% $1,116 $896 $2,013 6.5% Three Months Ended Mar 31, '23 $5,259 $5,259 16.7% $1,123 $847 $1,970 6.3% Jun 30, '23 $5,515 $5,515 16.4% $1.150 $1,016 $2,166 6.4% Sep 30, '23 $5,626 $5,639 16.0% $1,185 $1,109 $2,294 6.5% Note 1: See page 25 for Non-GAAP Cost of Revenue reconciliation. Note 2: Delivery business model changes in some countries, beginning in Q1'20, resulted in the classification of certain Delivery payments and incentives as Cost of Revenue. Note 3: Mobility business model change in the UK, beginning in Q1'22, resulted in the classification of certain Mobility payments and incentives as Cost of Revenue. Note 4: The impacts to Cost of Revenue due to business model changes shown here only reflect the portion that impacted Cost of Revenue for the Delivery and Mobility segments. Delivery and Mobility business model changes also resulted in impacts to other financial statement line items but are not shown here. 28#29Free Cash Flow Reconciliation $ in Millions Free Cash Flow reconciliation: Net cash provided by (used in) operating activities Purchases of property and equipment Free Cash Flow Free Cash Flow, excluding HMRC VAT payments: Add: HMRC VAT payments Free Cash Flow, excluding HMRC VAT payments Uber Q3 2023 Earnings Sep 30, '22 432 (74) $358 $358 Dec 31, '22 (244) (59) ($303) 733 $430 Three Months Ended Mar 31, '23 606 (57) $549 $549 Jun 30, '23 1.190 (50) $1,140 $1,140 Sep 30, '23 996 (61) $905 622 $1,527 Note 1: Net cash provided by (used in) operating activities and Free Cash Flow in Q4'22 experienced a cash outflow of approximately $733 million (GBP 613 million) to resolve outstanding HMRC VAT claims related to periods prior to our model change on March 14, 2022. Note 2: Net cash provided by (used in) operating activities and Free Cash Flow in Q3'23 experienced a cash outflow of approximately $622 million (GBP 493 million) related to the payment of a HMRC VAT assessment. 29