Yelp Results Presentation Deck

(mm) $30 $25 $20 $15 $10 $5 $0 $3 Q1'13 $8 $8 Q2'13 Quarterly adjusted EBITDA Q3'13 $10 Q4'13 $9 Q1'14 $17 Q2'14 $20 Q3'14 $25 Q4'14 $16 Q1'15 $23 Q2'15 $13 Q3'15 See slide 23 for reconciliation to GAAP net income (loss) for the periods presented and for information about the limitations of adjusted EBITDA as an analytical tool. $18 $13 Q1'16 22

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