Investor Presentaiton

Trusted Content We invest in trust leadership We take industry-leading measures to maintain content integrity and quality Cumulative Review Distribution As of December 31, 2023 Not Recommended 18% O Recommended 74% Removed for Violating Yelp's Policies or by reviewers themselves¹ 9% Distribution of Average Business Ratings Across Platforms² HomeAdvisor Facebook Google Yelp BBB 0 25 50 75 100 Share of Local Businesses Average Rating <2 2-4 >4 Strong Content Moderation: 74% of the reviews were recommended by our automated software and 18% were not recommended but still accessible on secondary pages. Reviews that are not recommended or that have been removed do not factor into a business's overall star rating. yelp* Note All observations weighted using sampling weights. Differentiated Reviews: Yelp's star ratings are more uniformly distributed between 1 and 5 stars than those of most competitors, which we believe results in a more useful and trustworthy consumer experience. 1 Yelp users can remove their own reviews on the platform, either individually or by closing their accounts 2 Source: Raval, Devesh, Federal Trade Commission, "Do Gatekeepers Develop Worse Products? Evidence from Online Review Platforms," February 2023, available at https://deveshraval.github.io/reviews.pdf. 10

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