Lyft : First Quarter 2024 LYFT Q1 2024 Supplemental Data

Forward

Looking

Statements

• Non-GAAPFinancial Measures

This presentation and the accompanying oral presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Lyft's future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Lyft's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this presentation and the accompanying oral presentation include, but are not limited to, statements regarding Lyft's future financial and operating performance, including its outlook for the second quarter of 2024 and fiscal year 2024, demand for Lyft's products and services and the markets in which Lyft operates, expected trends in insurance costs and impact on Lyft's business, the impact of macroeconomic conditions on our business, results of operations, and the markets in which we operate, rider and driver activity, including driver supply, and levels of rideshare and bike and scooter rides on the Lyft platform and future incentive levels, and litigation and regulatory matters. Lyft's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including the macroeconomic environment, including inflation, and the impact of these factors and other market factors on operating expenses, including insurance costs, the sufficiency of Lyft's unrestricted cash, cash equivalents, and short-term investments, as well as risks associated with the outcome of litigation and regulatory matters. The forward-looking statements contained in this presentation are also subject to other risks and uncertainties, including those more fully described in Lyft's filings with the Securities and Exchange Commission ("SEC"), including in our Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 that will be filed with the SEC. The forward-looking statements in this presentation are based on information available to Lyft as of the date of this presentation, and Lyft disclaims any obligation to update any forward-looking statements, except as required by law. This presentation and the accompanying oral presentation discuss "customers." For rideshare, there are two customers in every car - the driver is Lyft's customer, and the rider is the driver's customer. We care about both.

In addition to financial information presented in accordance with U.S. generally accepted accounting principles ("GAAP"), this presentation and the accompanying oral presentation include certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA margin as a percentage of Gross Bookings, adjusted net loss, adjusted net loss per share, non-GAAP operating expenses, and free cash flow. These non-GAAP measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP. These non-GAAP measures have limitations as analytical tools, and they should not be considered in isolation or as a substitute for analysis of other GAAP financial measures. A reconciliation of these measures to the most directly comparable GAAP measures is included at the end of this presentation. We have not provided the forward-looking GAAP equivalents for certain forward-lookingnon-GAAP measures presented in the accompanying oral presentation, or a GAAP reconciliation, as a result of the uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation expense. Accordingly, a reconciliation of these non-GAAP guidance metrics to their corresponding GAAP equivalents is not available without unreasonable effort. However, it is important to note that material changes to reconciling items could have a significant effect on future GAAP results.

Gross profit is defined as revenue less cost of revenue. Gross margin is defined as gross profit divided by revenue for the same period.

This presentation and the accompanying oral presentation also contain statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to such information. We have not independently verified the accuracy or completeness of the information contained in the industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that information nor do we undertake to update such information after the date of this presentation.

(in millions)

$3,446

$3,051

$3,554

$3,724

$3,693

Q1'24 Gross

Bookings:

$3.7 billion,

$1,225

Q4'23

Revenue

$1,277

Q1'24

+21% YoY

Rides

(in millions)

153.0

+10%

YoY

Q1'23

177.9

+17%

YoY

Q2'23

187.4

+20%

YoY

Q3'23

190.8

+26%

YoY

Q4'23

187.7

+23%

YoY

Q1'24

Q1'24 Rides:

188 million, +23% YoY

Active Riders

(in millions)

22.4

21.5

19.6

Q1'23 Q2'23 Q3'23

22.4

+10%

YoY

Q4'23

21.9

+12%

YoY

Q1'24

Q1'24

Active Riders:

21.9 million, +12% YoY

Adjusted EBITDA & Margin

($ in millions)

Q1'24 Adj EBITDA vs. Outlook

Adj EBITDA & margin (% of Gross Bookings)

$92

$67

$50

$55

$59

$23

0.7%

Margin

$41

1.2%

Margin

2.6%

Margin

1.8%

Margin

$59

1.6%

Margin

Gross Bookings

$4.0 billion - $4.1 billion, +16-19% YoY

Adjusted EBITDA

$95 million to $100 million

Adjusted EBITDA margin (% of Gross Bookings)

Approximately 2.4%