Risk Factors Update Summary

• Our net loss increased significantly from $468 million in 2021 to $1.4 billion in 2022.
• Laws and regulations governing independent contractor classification have changed significantly, impacting worker classification.
• Accumulated deficit rose from $2.1 billion in 2021 to $5.2 billion in 2023.
• Failure to attract and retain Dashers could result in negative press and harm to brand.
• Changes in legislation may increase tax obligations, potentially affecting financial condition and results.
• Unrecognized stock-based compensation expense increased to $3.0 billion in 2023.
• Increased competition led to changes in commission rates, fees, and incentives to remain competitive.
• Potential impact on financial results due to expiration of NOL carryforwards, with $1.6 billion in U.S. federal NOLs.
• Investment in preferred shares increased from $395 million to $412 million.
• Increased regulatory scrutiny on competition laws may lead to fines and operational restrictions.
• Impairments of non-marketable equity securities were $312 million and $101 million in 2022 and 2023.
• Dependence on third-party software and services poses risks, especially with changes in functionality.
• Potential adverse effects on business operations due to changes in mobile operating systems and regulations.
• Uncertainty around data transfers and national data localization trends may pose compliance risks.