Yelp Investor Presentation Deck

Robust multi-year capital return program Share repurchase program designed to offset dilution and return capital to shareholders Completed as of December 31, 2019 Remaining Authorization About Yelp $200M Authorized July 2017 Market Opportunity $250M Authorized November 2018 Strategy $250M Authorized February 2019 Capital Allocation $250M Authorized January 2020 $950M Total repurchase authorization Governance Financial Results 24

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