Lyft Results Presentation Deck

Reinsurance Transaction Overview and Q2'21 Impact (1) (2) Transaction Overview Transaction Summary: On April 22, we executed an agreement to reinsure our captive insurance entity for $183.2 million of economic coverage above the liabilities recorded as of March 31, 2021 for policies underwritten during the period of 10/1/2018-10/1/2020. Net Transaction Cost: $20.4M - Structure: - Insurance liabilities remain on our books post transaction close, but Lyft recognized an offsetting reinsurance recoverable. - From an economic perspective, when the claims we are reinsuring are ultimately resolved, to the extent the ultimate value exceeds the liabilities as of March 31, 2021, Lyft will receive dollar for dollar coverage for up to $183.2 million. To the extent the ultimate insurance liability is below the March 31, 2021 balance sheet, the benefit will accrue to the reinsurer. Date Closed: May 7, 2021 P&L Impact in Q2'21 ($ in Millions) Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods Change in Reinsurance Recoverable Net Impact (1) ■ ($20.0) $20.0 $0 Balance Sheet Treatment (²) We elected to present the funds held liabilities and the reinsurance recoverable asset on a net basis. ▪ The net liability balance at closing on May 7, 2021 was $20.2 million. As of June 30, 2021 the net liability balance was reduced by $20.0 million to $0.2 million given the increase in the reinsurance recoverable. Q2'21 P&L impact of the reinsurance agreement excludes the net transaction cost of $20.4 million. In our Q1'21 earnings presentation (from May 4, 2021), we presented funds held liabilities of $271.5 million and a reinsurance recoverable asset of $251.3 million. With the close of the transaction, we elected to present the funds held liabilities and the reinsurance recoverable asset on a net basis, as allowed under ASC 210 when a right of offset exists. 9

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