Slide 1: Q3'24 Business & Financial Highlights
ebay Q3’24 Business & Financial Highlights October 30, 2024
Slide 2: Disclosures
Disclosures This presentation contains non-GAAP measures relating to our performance. You can find the reconciliation of these measures, except for FX-Neutral basis, to the nearest comparable GAAP measures in the appendix at the end of this presentation. All growth rates represent year-over-year com
Slide 3: Business Highlights
Business Highlights 3 | Business & Financial Highlights Q3'24 |@ 2024 eBay. All rights reserved.
Slide 4: Q3'24 Highlights
Q3’24 Highlights $18.3B Gross Merchandise Volume $2.6B Revenue 27.2% Non-GAAP Operating Margin $1.19 Diluted Non-GAAP EPS 16 Million Enthusiast Buyers* 4| Business & Financial Highlights Q3'24 | 2024 eBay. All rights reserved.
Slide 5: Driving Momentum in Collectibles
Driving Momentum in Collectibles 5 | Business & Financial Highlights Q3'24 | © 2024 eBay. All rights reserved.
Slide 6: Things.People.Love.
Things.People.Love. ~ free to sell _ a pre-owned = clothes for free 6 | Business & Financial Highlights Q3'24 | © 2024 eBay. All rights reserved.
Slide 7: Optimizing Listing Efficiency for UK C2C Sellers
Optimizing Listing Efficiency for UK C2C Sellers Streamlined Integrated Al + Intelligent Pricing Simplified Item Specifics Descriptions & Photo Enhancements Recommendations Shipping Options - ee oat — ost ae. eet ae. < x < x < x < x Select item specifics Describe item Set pricing Select delivery opt
Slide 8: Eliminating Significant UK C2C Pain Points
Eliminating Significant UK C2C Pain Points Managed Shipping < x Select delivery options Delivery method Sxpnaony v shipping sotp Simple Detnery Package size Usto2ks Uelosta texte B Who pays? Streamlined package sizing, auto-generated labels & fully tracked orders 8 | Business & Financial Highlights
Slide 9: eBay AI-Powered Magical Bulk Listing Tool
eBay Al + Powered Magical Bulk Listing Tool ebay Multiple listings from photos ebay Create multiple listings from photos 2 stems GotS toms slectea ave @ Raeesiocecereen | | See en: | ‘Aten Y | dominoes Y poten v | | 2004 a Add | 1 a = aso esa, | (eee: | Lave! wo (ie ¥ ved soma alole Reaamremeey | tg
Slide 10: Enabling Buyer Choice and Accelerating Seller Growth
Enabling Buyer Choice and Accelerating Seller Growth Added Riverty as a payment Expanded partnership method in Germany with Liberis ebay + rIVERTY 10| Business & Financial Highlights Q3’24 | © 2024 eBay. All rights reserved.
Slide 11: Impacting Our Global Community
Impacting Our Global Community $49M+ Raised by eBay for Charity ~$3M Awarded by the eBay Foundation to the 2024 Global Give grantees FOR CHARITY g 1| Business & Financial Highlights Q3’24 | © 2024 eBay. Allrights reserved
Slide 12: Financial Highlights
Financial Highlights 12| Business & Financial Highlights Q3'24 | © 2024 eBay. All rights reserved.
Slide 13: Q3'24 Results
Q3’24 Results GUIDANCE ACTUALS GMV $17.8 - $18.2 $18.3 (in billions) (6-6 EXN ‘DeEXN (1% - 1% organic FXN 1% organic FXN Revenue | $2:50- $2.56 $2.58 (in billions) 16394 EN Sm EMN 0% - 3% organic FXN 3% organic FXN Op Margin 26.8% - 27.5% 27.2% Diluted Non-GAAP $1.15 - $1.20 $1.19 EPS “ ° 13| Busine
Slide 14: GMV
GMV ($ billions, Y/Y FXN growth) 18.6 18.4 18.3 Key 0% % 1% @ International GMV © usemv 96 96 Q2 23 Q3 23 Q4 23 Q124 Q2 24 Q3 24 ( Organic FXN (1)% (1)% 0% 0% 1% 1% 14| Business & Financial Highlights Q3'24 | © 2024 eBay. All rights reserved.
Slide 15: Revenue
Revenue ($ millions, Y/Y FXN growth) Key @ Revenue O Take Rate Q2 23 Q3 23 Q4 23 Q124 Q2 24 Q3 24 ( Organic FXN 5% 4% 3% 2% 2% 3% 15 | Business & Financial Highlights Q3'24 |© 2024 eBay. All rights reserved.
Slide 16: Advertising Revenue
Advertising Revenue ($ millions, Y/Y FXN growth) Key @ IP Ads Revenue 398 408 366 oe 8% 11% @ 3P Ads Revenue 24% Q3 23 Q4 23 1P vs. GMV +50pts +36pts +30pts +28pts +Tipts +13pts GMV Penetration 2.0% 2.0% 2.1% 2.1% 2.2% 2.2% 16| Business & Financial Highlights Q3'24 |© 2024 eBay. All rights reserved.
Slide 17: Non-GAAP Expenses
Non-GAAP Expenses (% of revenue) erating Expense at 45.3%, down ) pts Y/Y Cost of Revenue Sales & Marketing Product Development General & Admin Transaction Losses Q323 Q324 Q323 Q324 Q323 Q324 Q323 Q324 Q323 Q324 Lower cost of payments and Marketing investments Operational efficiencies Higher one-ti
Slide 18: Non-GAAP Operating Income & Margin
Non-GAAP Operating Income & Margin ($ millions) 7714 Key [| Non-GAAP Operating Income oO Non-GAAP Operating Margin Q2 23 Q3 23 Q4 23 Q124 Q2 24 Q3 24 ( Operating Income Y/Y (1)% (4)% (9)% 4% 5% 6% 18| Business & Financial Highlights Q3'24 |© 2024 eBay. Alll rights reserved
Slide 19: Non-GAAP Earnings Per Share
Non-GAAP Earnings Per Share 1.25 $1.2 $1.18 $1.19 $1.07 15% 16% $1.03 $1.03 5% 3% Q2 23 Q3 23 Q4 23 Q124 Q2 24 Q3 24 GAAP EPS $0.32 $2.46 $1.40 $0.85 $0.45 $1.29 GAAP Y/Y ” ” 13% (19)% 39% (48)% 19 | Business & Financial Highlights Q3'24 |© 2024 eBay. All rights reserved
Slide 20: Free Cash Flow
Free Cash Flow ($ millions) 646 (17)% 492 472 (33)% 278 (43)% (3) Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 CapEx % of Rev 4% 3% 5% 6% 3% 4% FCF % of Rev 19% 31% ” 18% 11% 25% 20 | Business & Financial Highlights Q3'24 |© 2024 eBay. Alll rights reserved.
Slide 21: Capital Returns
Capital Returns ($ millions) 783 638 139 383 379 B a / Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 1,135 Key @ Stock Repurchases 881 @ Dividend ( Avg. Diluted Shares* 537 532 521 519 507 494 ) Approximately $1.2B repurchase authorization remaining as of September 30, 2024 21| Business & Financial Highlights
Slide 22: Cash & Debt
Cash & Debt ($ billions) Targets + Maintain current BBB+ rating * Targeting mid-term leverage of approximately 1.5x net debt and gross debt below 3.0x EBITDA Net Debt * Targeting mid-term minimum cash & investment SEG olaelate) C21 balance of approximately $3.5B and Investments* Credit Ratios * 0.9x
Slide 23: Investments
Investments Aurelia $1.9B $1.9B valuation for 177M shares of Aurelia, the privatized Adevinta entity* adyen $0.5B On October 15, we met the processing volume milestone to vest the second tranche of our Adyen warrant, and we subsequently paid $105M to exercise the tranche for 404K shares, valued at $
Slide 24: Q4'24 Guidance
Q4’24 Guidance GUIDANCE CONTEXT GMV $18.9 - $19.3 2%-4% spot Continued execution against strategic initiatives Contemplates persistent economic headwinds and several one- off dynamics in Q4 (in billions) 0% ~ 2% FXN + FX tailwind of ~2 pts Y/Y (1)% - 2% organic FXN + Expect Goldin to contribute over
Slide 25: FY'24 Guidance
FY’24 Guidance GMV $74.2 - $74.6 1%- 2% spot (in billions) 1% - 1% FXN 1% - 1% organic FXN Revenue $10.23 % $10.29 (in billions) 2-24 DIN 1% - 2% organic FXN Non-GAAP 0 6 Op Margin 28.0% - 28.1% Diluted Non-GAAP $4.80 - $4.85 EPS 13% - 14% GUIDANCE CONTEXT Volume Assumptions: * Strong execution with
Slide 26: Additional Financial Commentary
Additional Financial Commentary Preliminary FY’25 Architecture UK C2C Initiative Dynamics Assuming no discernable change in the macro Phased approach to re-monetization of UK C2C volume: environment, we are planning our business around the assumptions of: + Immediate monetization through advertising
Slide 27: Appendix
Appendix 27| Business & Financial Highlights Q3'24 | © 2024 eBay. All rights reserved.
Slide 28: GAAP to Non-GAAP Quarterly Reconciliations
GAAP to Non-GAAP Quarterly Reconciliations Operating Margin GAAP operating income Stock-based compensation expense and related employer payroll taxes ‘Amortization of acquired intangible assets within cost of net revenues and operating expenses Restructurit Non-recurring legal matters Other general
Slide 29: GAAP to Non-GAAP Quarterly Reconciliations
GAAP to Non-GAAP Quarterly Reconciliations Net Income / EPS GAAP Income from continuing operations Stock-based compensation expense and related employer payroll taxes Amortization of acquired intangible assets within cost of net revenues and operating expenses Restructuring Non-recurring legal matte
Slide 30: Non-GAAP EPS to GAAP EPS bridge
Non-GAAP EPS Investments* Stock-based Tax Rate / Other GAAP EPS compensation* & Amortization
Slide 31: GAAP to Non-GAAP Quarterly Reconciliations
GAAP to Non-GAAP Quarterly Reconciliations Statement of Income Three Months Ended Three Months Ended ‘September 30, 2024 ‘September 30, 2023 Reported Non-GAAP Entries Non-GAAP Reported Non-GAAP Entries Non-GAAP ‘“Trmilllions, except per share data and percentages) Net revenues 8 257 $ - $s 2,576 $ 2
Slide 32: Calculation of Free Cash Flow
Calculation of Free Cash Flow Net cash provided by continuing operating activities Less: Purchases of property and equipment, net Free cash flow from continuing operations Repatriation Tax Payment Schedule Three months ended June 30, September 30, December 31, March 31, June 30, September 30, 2023 2
Slide 33: Reconciliation of Total Revenue
Reconciliation of Total Revenue Three months ended ‘June 30, September 30, December 31, March 31, ‘June 30, ‘September 30, 2023 2023 2023 2024 2024 2024 Net revenues $ 2,540 $ 2,500 $ 2,556 $ 2572 $ 2,576 (1) Hedge gain/(loss) $ “Ss 2$ ng (10) $ (10) $ q) (2) Foreign currency impact $ (9) $ 43 $ 63
Slide 34: Reconciliation of Organic FX-Neutral Revenue
Reconciliation of Organic FX-Neutral Revenue Three months ended June 30, September 30, December 31, March 31, June 30, September 30, 2023 2023 2023 2024 2024 2024 As Reported Revenue Growth 5% 5% 2% 2% 1% 3% Acquisition/Disposition Impact (% (19% -% —% —% —% Foreign Currency Impact 1% —% 1% —% 1% —%
Slide 35: Calculation of Period-End Fully Diluted Share Count
Calculation of Period-End Fully Diluted Share Count Three months ended ‘June 30, ‘September 30, December 31, March 31, ‘June 30, ‘September 30, 2023 2023 2023 2024 2024 2024 (in millions) Quarter-end common shares outstanding 533 520 5I7 509 494, 482 Quarter-end shares underlying outstanding 27 26 2
Slide 36: GAAP to Non-GAAP Reconciliations Guidance
GAAP to Non-GAAP Reconciliations Guidance Three Months Ending December 31, 2024 (in billions, except per share amounts) GAAP Non-GAAP (a) Net Revenue $2.53 - $2.59 $2.53 - $2.59 Diluted EPS $0.96 - $1.01 $1.17 - $1.22 Twelve Months Ending December 31, 2024 (in billions, except per share amounts) GAA
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