Yelp Investor Presentation Deck

Strong Full-Year Performance Growth 1. 2. Total Net Revenue ($ in millions) $716 2016 $851 30% 2017 $943 19% 2018 11% Adjusted EBITDA¹ ($ in millions) $123 Q4 & FY EARNINGS UPDATE 2016 $158 Growth 78% Margin² 17% Net Income (loss) for FY 2016 was a loss of $1.7 million. Net Income for FY 2017 was $153 million including a $164 million pre-tax gain on the disposal of Eat24. Net Income for FY 2018 was $55 million. See slide 18 for reconciliation to GAAP net income (loss) for the periods presented and for information about the limitations of adjusted EBITDA as an analytical tool Margin calculated as Adjusted EBITDA divided by Net Revenue 2017 $183 28% 19% 2018 16% 19% 15

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