Lyft Results Presentation Deck

Key Highlights Q4'20 +14% Sequential revenue growth, at the top end of our initial outlook range (1) 37% Improvement in Q4 Adjusted EBITDA loss versus Q3 $2.3 billion Unrestricted Cash, Cash Equivalents and Short-Term Investments (2) Q4 Revenue of $570 million benefited from temporarily reduced driver incentive spend, outperforming our most recent outlook) Revenue per Active Rider increased 14% versus Q3'20, reflecting fewer new rider activations and a mix shift toward higher frequency riders Contribution Margin of 55.5% was up >500 bps versus Q3'20; excluding unusual tailwinds, Contribution Margin was 53% versus outlook of 51.5% to 52.5%(4) Delivered Q4'20 Adjusted EBITDA loss of $150 million versus most recent outlook of <$185 million (5) ● ● ● Non-GAAP operating expenses decreased from $697 million in Q4'19 to $497 million in Q4'20, driven by strong cost discipline Non-GAAP sales & marketing expense as a percentage of revenue was <15% In Q4 successfully removed $360 million in fixed costs on an annualized basis versus original 2020 plan, exceeding target cost reduction of $300 million by 20% (1) Q4'20 Adjusted EBITDA loss of $150 million compares to Q3'20 Adjusted EBITDA loss of $240 million. As of December 31, 2020. (2) (3) (4) Company outlook for Revenue for Q4'20 was reported in the Form 8-K filed December 2, 2020. Contribution Margin included two unique benefits in Q4'20 related to: reduced driver acquisition and engagement spend ($15 million) and net gains from remarketing Flexdrive vehicles ($6.7 million). Excluding these benefits from revenue and Contribution, Q4'20 Contribution Margin would have been 53%. (5) Company outlook for Adjusted EBITDA for Q4'20 was reported in the Form 8-K filed December 2, 2020. Note: Certain figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as reconciliation from GAAP to non-GAAP measures contained in the appendix to this presentation. 3

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