Lyft : Q4 2021 Earnings Supplemental Data

FEBRUARY 8, 2022

Q4 Fiscal 2021 Earnings

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, expectations regarding profitability, cost reductions, revenue, Contribution Margin, and Adjusted EBITDA, demand for Lyft's products and services and the markets in which Lyft operates and the future of transportation-as-a-service, the impact of the COVID-19 pandemic and the timing of economic recovery on our business, results of operations, and the markets in which we operate, rider and driver activity, including driver supply, 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 effect of the COVID-19 pandemic and related impact on Lyft's business, trends in Lyft's business, in particular recovery in rides and driver supply levels, 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, including our Quarterly Report on Form 10-Q that was filed with the SEC on November 4, 2021 and in our Annual Report on form 10-K that will be filed following this presentation. The forward-looking statements in this presentation are based on information available to Lyft as of the date hereof, and Lyft disclaims any obligation to update any forward-looking statements, except as required by law.

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 Contribution, Contribution Margin, Adjusted EBITDA, Adjusted EBITDA Margin, adjusted net loss, adjusted net loss per share and non-GAAP operating expenses. 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.

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.

2

Key Highlights

Q4'21

+70%

Revenue growth year-over-year

$51.79

Record Revenue Per Active Rider

59.7%

Record Contribution Margin

$75M

Adjusted EBITDA profit,

11% improvement from Q3'21

1. • Q4 Revenue of $970 million grew 12% quarter-over-quarter and 70% year-over-year and exceeded the midpoint of our outlook by ~$35 million1
   • Record Contribution Margin of 59.7% exceeded guidance of 59%2
   • Record Revenue per Active Rider of $51.79 grew 14% year-over-year and benefited from improving service levels and a larger mix of longer, higher revenue rides
   • Active Riders of 18.7 million increased 49% year-over-year, with new rider activations up 42% year-over-year
   • Q4 Adjusted EBITDA of $75 million improved 11% quarter-over-quarter and was in line with the top end of our outlook3
   • Active drivers grew by 34% year-over-year driven in part by a ~50% increase in new driver activations versus Q4'204
2. Company outlook for Q4'21 Revenue of $930-940 million was provided during the Q3'21 earnings call on November 2, 2021.
3. Company outlook for Q4'21 Contribution Margin of 59% was provided during the Q3'21 earnings call on November 2, 2021.
4. Company outlook for Q4'21 Adjusted EBITDA of $70-75 million was provided during the Q3'21 earnings call on November 2, 2021.
5. An active driver is defined as a driver who has given at least one rideshare ride on the Lyft network during the quarter.

Note:	Certain figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as the reconciliation from GAAP to	3
	non-GAAP measures contained in the appendix to this presentation.

Revenue			Revenue Growth
($ in millions)			(Year-over-Year)
	Revenue			Revenue Growth
	$930 - $940	$970
				63% - 65%	70%
$570
			(44%)
Actual	Outlook	Actual	Actual	Outlook	Actual
Q4'20	Q4'21	Q4'21	Q4'20	Q4'21	Q4'21

Note:	Company outlook for Q4'21 Revenue of $930-940 million was provided during the Q3'21
	earnings call on November 2, 2021.

Note:	Company outlook for Q4'21 Revenue growth of 63-65% was provided during the Q3'21
	earnings call on November 2, 2021.		4

Revenue Per Active Rider

All-time High Revenue Per Active Rider in Q4'21

						+$6.16
							$51.79
$45.06			$45.	$45.	$44.	$45.63
	$39.	$39.94
Q1'20	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21

Note:	Revenue per Active Rider in Q4'21 grew 14% year-over-year to $51.79 from $45.40 in Q4'20. On a
	sequential basis, Revenue per Active Rider in Q4'21 grew 13% to $51.79 from $45.63 in Q3'21.

Active Riders

(in millions)

21.2
						18.9	18.7
					17.1
		12.5	12.6	13.5
	8.7
Q1'20	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21

Note:	Active Riders in Q4'21 grew 49% year-over-year to 18.7 million from 12.6 million in Q4'20. On a	sequential
	basis, Active Riders in Q4'21 declined 1% to 18.7 million from 18.9 million in Q3'21.		5