Yelp Investor Presentation Deck

Strong governance Focused on driving value for our shareholders About Yelp 2016 Collapsed dual-class share structure 2017 Initiated stock buyback program Market Opportunity 2018 Transitioned to net share withholding to reduce dilution Adopted director resignation policy Strategy Adopted stock ownership guidelines Capital Allocation 2019 Added three new independent directors 2020 Added new independent director Introduced performance- based stock grants for executive compensation Governance Adopted majority vote standard for director elections Financial Results 27

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