Growth and Profitability Strategy

Strategy execution Solid financial performance in first year of long-term plan $851 2017 Total Net revenue ($ in millions) +11% $943 2018 +8% $1,014 2019 $158 Adjusted EBITDA1 ($ in millions) +16% $183 +17% $213 2017 2018 2019 Margin² 19% 'GAAP Net Income for FY 2017 was $153 million including a $164 million pre-tax gain on the sale of Eat24. Net Income for FY 2018 was $55 million. Net Income for FY 2019 was $41 million. See Appendix for reconciliation to GAAP Net income (loss) for the periods presented and for information about the limitations of adjusted EBITDA as an analytical tool 2Adjusted EBITDA margin calculated as Adjusted EBITDA divided by Net revenue. See Appendix for how we define Adjusted EBITDA and a reconciliation of Adjusted EBITDA to Net income (loss). About Yelp Market Opportunity Strategy Capital Allocation 19% 21% Governance Financial Results 29

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