The Power of Lyft's Network
LYFT AUTONOMOUS
Transaction Overview
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$550 million total cash
Consideration
• $200 million of upfront cash subject to closing adjustments
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$350 million in additional cash payments over five years
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$100M in annualized non-GAAP net operating cost savings for Lyft
Financial Impact
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Revenue related to commercial agreements
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Lyft expects to achieve Adjusted EBITDA profitability in Q3 20211
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Approved by Lyft and Woven Planet Board of Directors
Timing & Approvals
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Subject to regulatory approvals and customary and other closing conditions
Expected to close in Q3 2021
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Assuming the transaction closes within the expected timeframe and the COVID recovery continues, we expect that we can achieve Adjusted EBITDA profitability in the 3rd
quarter of 2021. While we expect the transaction to close in the third quarter, we are unable to precisely estimate the date of regulatory approvals and fulfillment of other closing
conditions. To provide investors with a representative savings datapoint for the third quarter and beyond, as long as the transaction closes in the third quarter, our non-GAAP results for
Q3 will exclude any potential one-time gains or losses on the transaction, related transaction expenses and the expenses of the division being transferred for the full quarter.
Note: At closing, Lyft will be accelerating a portion of the unvested equity held by current employees of Level 5 that will be joining Woven Planet.View entire presentation