Yelp Results Presentation Deck

Launch date of U.S. Yelp Community 2005 - 2006 2007 - 2008 2009 - 2010 Revenue in our oldest communities grew more than 30% on average Number of Yelp Communities (1) 6 14 18 Average Cumulative Reviews in Q2 2016 (2) 6,819 1,534 558 (1) A Yelp community is defined as a city or region in which we have hired a Community Manager. (2) Average cumulative reviews is defined as the total cumulative reviews for businesses in the cohort as of June 30, 2016 (in thousands) divided by the number of communities in the cohort. (3) Year-over-year growth in average cumulative reviews compares the average cumulative reviews as of June 30, 2016 with that of June 30, 2015. Year-Over-Year Growth in Average Cumulative Reviews (3) 27% 30% 37% Average Local Advertising Revenue in Q2 2016 (4) $9,830 $2,933 $769 Year-Over-Year Growth in Average Local Advertising Revenue (5) 32% 39% 41% (4) Average local advertising revenue is defined as the total local advertising revenue from businesses in the cohort over the three-month period ended June 30, 2016 (in thousands) divided by the number of communities in the cohort. compare (5) Year-over-year growth in average local advertising revenue compares the average local advertising revenue in the three-month period ended June 30, 2016 with that of the same period in 2015. 11

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