Earnings Presentation Q1 2020

Q1 2020 Results BILLINGS REVENUE ADJ. CONTRIBUTION © 2020 Cardlytics Consumer Incentives Adjusted FI Share Adjusted contribution $22,562 $18,351 $17,637 Q1 2019 15.8% 26.5% 15.5% $22,267 $25,130 $20,379 Q1 2020 Billings (¹) Consumer Incentives Revenue Adjusted FI Share and other third-party costs (¹) Adjusted contribution (¹) Delivery costs Amortization of deferred FI implementation costs Gross profit Three Months Ended March 31, 2019 $58,550 22,562 $35,988 18,351 $17,637 3,246 653 $13,738 2020 $67,776 22,267 $45,509 25,130 $20,379 3,406 1,008 $15,965 $9,226 (295) $9,521 6,779 $2,742 160 355 Change $2,227 % 15.8% (1.3) 26.5% 36.9 15.5% 4.9 54.4 16.2% (1) Billings, adjusted Fl share and other third-party costs and adjusted contribution are non-GAAP measures. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are presented below under the headings "Reconciliation of GAAP Revenue to Billings," "Reconciliation of GAAP FI Share and Other Third-Party Costs to Adjusted Fl Share and Other Third-Party Costs" and "Reconciliation of GAAP Gross Profit to Adjusted Contribution." Please see appendix for definitions. 10

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