Risk Factors Update Summary

• Revenue growth rate declined slightly from 2022 to 2023, with GMS declining slightly as well.
• Acquired Elo7 impairment charges increased significantly from $68.1 million to $897.9 million in June 2023.
• Implemented a Restructuring Plan in December 2023 to reduce operating expenses.
• Impairment charges for Depop and Elo7 goodwill increased from $147.1 million to $897.9 million in June 2023.
• Revenue growth rate may continue to decelerate due to geopolitical events and global economic uncertainty.
• Potential future impairment charges for goodwill and other assets were highlighted in the risk factors.
• Changes in interest rates may impact debt refinancing, with potential rate hikes affecting financial obligations.
• Increased pressure on consumer discretionary spending could harm financial performance and growth.
• Increased debt due to convertible notes maturing in 2023 and 2024, with potential refinancing challenges.
• Stock repurchase program authorization increased from $600 million to $1 billion in June 2023.
• Revised work modes to optimize workplace culture and creativity, emphasizing live cross-functional gatherings.
• Potential impact of regulatory changes on data protection laws and compliance requirements was emphasized.
• Extended target year to 2025 for doubling percentage of U.S. employees identifying as Black, Latinx, or Native American.
• Continuing efforts to attract and retain employees, particularly in competitive talent markets like New York City and San Francisco.