Transformed Business Model and Cost Structure

Delivering more value to advertisers Focus on driving more Ad clicks at compelling prices Financial Results & Key Metrics Ad Clicks, Y/Y 100% 42% 42% 33% 50% 25% 19% 20% 87% 28% 14% 13% 9% 3% 0% -8% -50% -25% -22% -51% -100% 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 Average CPC, Y/Y 40% 35% 20% 9% 9% 7% 7% 4% 3% 5% 4% 0% -3% -1% -20% -9% -16% -22% -20% -25% -40% 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 37

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