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Instacart IPO Presentation Deck

Non-GAAP Operating Expenses (% of GTV / $M) 8.6% $440 2019 3.6% $750 2020 4.8% $1,200 2021 5.8% $1,664 2022 5.6% $842 1H 23 Non-GAAP Operating Expenses includes the sum of Adjusted Operations and Support Expense, Adjusted Research and Development Expense, Adjusted Sales and Marketing Expense, and Adjusted General and Administrative Expense. See Appendix for a reconciliation of each of these measures to the most directly comparable financial measures stated in accordance with GAAP.

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