Grubhub Investor Presentation Deck

Economic Parity of Delivery Orders at Scale (1) Illustrative Unit Level Economics at Steady State (1) Average Ticket Size Commission Paid by Restaurant Commission Delivery Fee Paid to Grubhub Grubhub Revenue per Order Credit Card & Care Expenses Payment to Delivery Partner Grubhub Profit per Order Profit Margin Grubhub without Delivery $30.00 15.0% $4.50 $0 $4.50 $1.10 $0 $3.40 76% Grubhub Delivery Scenario 1 $30.00 27.5% $8.25 $2.75 $11.00 $1.10 $6.50 $3.40 31% GH Actual average ticket size, commission rate to restaurant, diner facing fees and payment to driver partner will vary based on market Grubhub Delivery Scenario 2 $30.00 32.5% $9.75 $1.25 $11.00 $1.10 $6.50 $3.40 31% In the Grubhub without delivery model, delivery fee is kept by restaurant (Approx. $2-5 per order) Grubhub sets fees in the delivery model, incl. diner delivery fees and fees paid to delivery partner Efficiency of scale allows Grubhub to drive down cost to the consumer 17

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