Grubhub Investor Presentation Deck

Reconciliation of Adjusted EBITDA ($MM) (¹) Net Income Income Taxes Depreciation and Amortization EBITDA (2) Merger and Restructuring costs Stock-based Compensation Adjusted EBITDA Q1 2015 $10.6 $7.9 $6.2 $24.7 $0.6 $3.0 $28.3 Q2 2015 $9.4 $6.8 $8.8 $25.0 $0.1 $3.3 $28.4 (1) Totals may not sum due to rounding (2) Merger and restructuring costs include transaction and integration related costs, such as legal and accounting costs, associated with the Merger, and restructuring costs Q3 2015 $6.9 $4.8 $6.3 $18.0 $0.4 $3.1 $21.5 Q4 2015 $11.3 $4.4 $6.7 $22.3 $0.5 $4.1 $26.8 2015 $38.1 $23.9 $28.0 $90.0 $1.6 $13.5 $105.0 GH 24

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