Slide 1: Global 2021 Investor All Hands Presentation
Global 2021 Investor All Hands Presentation February 10, 2021
Slide 2: Non-GAAP Financial Measures Disclosure
Non-GAAP Financial Measures Disclosure To supplement our financial information, which is prepared and future periods. These non-GAAP financial measures also presented in accordance with generally accepted accounting facilitate management’s internal comparisons to our historical principles in the Uni
Slide 3: Forward Looking Statements
Forward Looking Statements This presentation may contain forward-looking statements growth and corporate culture, financial performance, regarding our future business expectations, which involve risks investments in new products or offerings, our ability to attract and uncertainties. Actual results
Slide 4: Contents
Contents 01 2020 Review Strong execution in a challenging environment 02 Uber today Global platform addressing a massive opportunity 03 Mobility Undisputed global leader 04 Delivery Global scale and local leadership 05 Freight Disrupting freight brokerage 06 Financial model & equity investments 07 B
Slide 5: 2020 Review
01 2020 Review Strong execution in a challenging environment
Slide 6: 2020 was a year like no other.
2020 was a year like no other.
Slide 7: We moved rapidly to focus the company towards growth opportunities while securing our future
We moved rapidly to focus the company towards growth opportunities while securing our future Jan’ 20 Apr’ 20 Jul’ 20 Sep’ 20 Nov’ 20 Careem acquisition closed Uber Direct and Uber Postmates acquisition $500 million Senior Notes Proposition 22 passes Connect launched announced refinancing in Californ
Slide 8: Focus on core opportunities
Focus on core opportunities Portfolio at end of year Mobility Delivery Freight Divested ATG, Elevate, Freight Europe and Jump (Micro-mobility) in 2020 Employee headcount down to 19K from 27K at the beginning of the year
Slide 9: Steadily recovering from pandemic impacts with a leaner cost base
Steadily recovering from pandemic impacts with a leaner cost base Gross Bookings ($B) Adj. EBITDA ($M) 17.2 581 15.8 14.7 293 245 10.9 50 10.2 10.1 8.6 7.0 (183) (145) 6.8 (232) 5.9 (313) 4.7 (454) 3.0 (612) (625) (837) Q1'20 Q2'20 Q3'20 Q4'20 Q1'20 Q2'20 Q3'20 Q4'20 Mobility Delivery Uber Mobility
Slide 10: We focused on doing our part in safely moving what mattered in 2020
We focused on doing our part in safely moving what mattered in 2020 We supported We supported We put drivers & delivery people our communities safety first… by committing... by committing… Tech innovations 30 Million masks/face 10 Million free rides & meals covers distributed New policies & standard
Slide 11: In 2021, we will help the world move again
In 2021, we will help the world move again Committed 10 million Advocating Partnerships to improve free or discounted rides for drivers vaccine access to help make sure that transportation to be prioritized with other frontline Uber’s partnerships so far include is not a barrier to getting the vacci
Slide 12: Uber today
02 Uber today Global platform addressing a massive opportunity
Slide 13: Go & Get: Uber Pass
Go~> € Get Go > Meetings in midtown. Get € Eats from uptown. One membership to do more for less Uber Pass Home Broadway La Défense Chatham Square Times Square The office Piccadilly Market Street Madison Square Battersea JFK Lar ietan Ctraat Uber Pass Go > Your daily commute. Get ¢ Your weekly essent
Slide 14: Unlocking a massive market
Unlocking a massive market Mobility TAM Delivery TAM Freight TAM $5T+ All passenger vehicle $5T+ Global spend on Retail $3.8T Global trucking & public transport trips restaurants, Home Delivery, logistics costs in 175 countries Takeaway, Drive Thru, Eat-in Grocery spend in markets serviced Please se
Slide 15: Uber Mobility
Uber Mobility #1 in every major region in which we operate Region Category position1 US & CA > 65% ` LatAM > 65% Europe > 65% ANZ > 65% MEA > 65% India ~50% Region Ownership stake3 Owned operations2 Russia / CIS ~35% of Yandex Taxi Minority owned affiliates Southeast Asia ~16% of Grab China ~15% of
Slide 16: Uber Delivery
Uber Delivery Large, global scale with local leadership Largest global food delivery operations (ex-China)1 Uber has the category leader position in countries delivering a majority of international Gross Bookings including Australia, Japan, France, Portugal, Mexico and many others - international ma
Slide 17: Delivery provided a natural hedge to Mobility in 2020
Delivery provided a natural hedge to Mobility in 2020 $58B 93M Gross Bookings -11 % 2 Yo Y MAPCs 3 $65B Delivery +66% YoY R C AG $58B Gross Bookings 0 % $50B Delivery +109% YoY 1 3.5M 5 $34B 5B Drivers $19B 675K '16 '17 '18 '19 '20 Trips Merchants Gross Bookings, Trips are FY 2020. MAPCs, Drivers, M
Slide 18: Leveraging our unique assets to launch, scale, and optimize our businesses
Leveraging our unique assets to launch, scale, and optimize our businesses Leading technology Product expertise Massive network Differentiated, proprietary demand Set the standard for powering Massive, efficient, and intelligent; prediction, dispatching, matching, on-demand movement, and provide our
Slide 19: Common tech stack enables rapid scaling of new verticals
Common tech stack enables rapid scaling of new verticals Uber’s tech stack drives lower costs, higher development velocity, and better cross promotion and retention of consumers and drivers Shared driver/ Shared components courier app experiment, maps Uber Eats integration services, safety etc. on U
Slide 20: Membership a key priority in 2021
Membership a key priority in 2021 Competitively differentiated and strong consumer proposition 5M+ Members as of 2020* Launched in 16 countries in 2020, rolling out to more geographies in 2021 Consumers gain access to benefits across Mobility and Delivery Uber benefits from increased consumer loyalt
Slide 21: Redesigned Uber app improves cross platform usage
Redesigned Uber app improves cross platform usage Redesigned app rolled out globally to iOS in Q3 and Android in Q4 2020 Uber app drove over 10% of Uber Eats first time trips in Q4 2020, and well over $1 billion of run-rate Delivery Gross Bookings
Slide 22: Uber continues to lead Mobility & Delivery app downloads globally
Uber continues to lead Mobility & Delivery app downloads globally App downloads are excluding China Source: Apptopia
Slide 23: U4B Delivery expansion deepened corporate engagements
U4B Delivery expansion deepened corporate engagements Uber for Business (U4B) Gross Bookings only declined 25% YoY despite a 51% YoY decline U4B Gross Bookings Mix Eats on U4B grew 30X in 2020 in U4B Mobility business in (Dec ‘19 and ‘20) (indexed to Feb ‘20 pre-COVID levels) Dec’20, as Eats on U4B
Slide 24: Mobility
03 Mobility Undisputed global leader 46% Of 2020 Gross Bookings
Slide 25: Rigorous cost management drove improving profitability
Rigorous cost management drove improving profitability Mobility Gross Bookings Mobility Adjusted EBITDA Mobility delivered positive ($B), %’s YoY* ($M) EBITDA through 2020 with healthy incremental margins from the bottom 15 800 6% 20% 22% 0 0 in Q2 despite significant 25% topline headwinds 0 29% (3)
Slide 26: COVID impacts moderating in recent lockdowns
COVID impacts moderating in recent lockdowns Recovery in NYC was impacted by a new wave of cases, but impacts well below Q2 2/29: 11/19: Public schools close 40000 120% First reported (reopen 12/7 through COVID-19 case in NYC end of Q4) 12/11: 32000 9/23: Indoor dining 90% 7-day positivity reaches b
Slide 27: Markets beginning to return to growth
Markets beginning to return to growth January 2021 Gross Bookings YoY 1 Mobility recovers as movement (Indexed) restrictions ease. Two of the largest Mobility markets - Brazil and Australia were down only 116% 10-20% YoY in January. 89% 89% 83% 82% In these markets, most use-cases other than Airport
Slide 28: Social and workday+commute usage recovering fast in reopening markets
Social and workday+commute usage recovering fast in reopening markets Social usage and Workday+ Commute usage has January 2021 Gross Bookings YoY (indexed) by use case 1 recovered over 90% and over (Average across Brazil, Australia, New Zealand, Taiwan and Hong Kong) 80% respectively in all markets.
Slide 29: Expanding the category in 2021 and beyond
Expanding the category in 2021 and beyond New products & segments Hailables (Taxi/Auto/Moto) Focus markets: Established developed markets Focus markets: Emerging markets Uber Reserve, Green, Hourly and Rentals Hailable (Taxi/Auto/Moto) products continued their strong progress into Q4 with 50% QoQ Ad
Slide 30: Delivery
04 Delivery Global scale and local leadership 52% Of 2020 Gross Bookings
Slide 31: Delivery is following the Mobility playbook
Delivery is following the Mobility playbook Run-rate Gross Bookings* Run-rate Gross Bookings^ ($B) ($B) 50 50 Delivery $40B Nov’20 40 40 Delivery $30B 30 May’20 30 20 Mobility $30B 20 Sep’15 Delivery $10B 10 Nov’18 10 Mobility $10B Sep’15 0 0 M1 M10 M20 M30 M40 M50 M60 M70 1Q16 1Q17 1Q18 1Q19 Q120 M
Slide 32: Delivery tapped into growth opportunities while improving margins in 2020
Delivery tapped into growth opportunities while improving In 2020, Delivery saw strong structural margins in 2020 tailwinds and Uber executed to capture outsized growth. Delivery Gross Bookings Delivery Adjusted EBITDA ($B), %’s YoY 1 ($B), %’s YoY 1 At the same time, we continued towards 0.0% segme
Slide 33: Significant progress made in 2020
Significant progress made in 2020 Delivery MAPCs* Delivery Active Merchants 66% 80% YoY 675K YoY 600K 73% 525K YoY 55% 450K YoY Q1'20 Q2'20 Q3'20 Q4'20 Q1'20 Q2'20 Q3'20 Q4'20 * Delivery MAPCs and YoY figures exclude exited markets
Slide 34: Profitable markets demonstrate long-term potential
Profitable markets demonstrate long-term potential Delivery made significant Delivery Gross Bookings and Adjusted EBITDA margins Q4’20 progress towards EBITDA profitable markets cohort vs. investment markets cohort breakeven in 2020. Market level trends demonstrate a strong investment case, with Gro
Slide 35: Growth bets ramping in 2021
Growth bets ramping in 2021 Grocery and New Verticals Uber Direct, Connect and Ads rolled out to six countries exited 2020 at over $1.5B in Postmates DaaS addressing in 2020 and was adopted by run-rate Gross Bookings additional delivery opportunities nearly 44k active restaurants
Slide 36: Grocery and New Verticals
Grocery and New Verticals Over $1.5B annualized run- rate Gross Bookings in Q4 2020 and we expect further expansion in 2021.
Slide 37: Uber Direct
Uber Direct Uber Direct powers on-demand local delivery of anything. Frictionless and flawless. Uber Direct, Connect and Postmates DaaS* expand the opportunity beyond Uber’s marketplace apps - improving utilization of our courier network, and increasing selection and choice for consumers. * Delivery
Slide 38: Freight
05 Freight Disrupting freight brokerage 2% Of 2020 Gross Bookings
Slide 39: Technology is accelerating industry transformation
Technology is accelerating industry transformation Outsourcing logistics to 3PL 1 Tech accelerating consolidation Freight is benefiting 3PL growing at double digits & rapidly Shippers streamlining from market tailwinds taking share from private fleets vendors 3 and leading the tech 3PL Penetration o
Slide 40: Freight's technology has unlocked a powerful flywheel
Freight’s technology has Marketplace 50%+ of loads now offered unlocked a powerful flywheel in bundles, maximizing carrier utilization and reducing empty miles. Bundling has also already reduced deadhead miles Lower by 23%, helping to alleviate shipper price More CO2 emissions. loads Efficiency Reac
Slide 41: Adoption & continued investment showcase the value of Uber Freight's platform
Adoption & continued investment showcase the value $1.3B 2020 exit run-rate. of Uber Freight’s platform 37% YoY growth 2 Working with 8.2K shippers, including 300 Enterprise shippers 1 Recognized for service excellence & innovation in 2020 71K Carriers that have joined our digital fleet on the #1 mo
Slide 42: Financial model & equity investments
06 Financial model & equity investments
Slide 43: Adjusted EBITDA breakeven in 2021 on track
Adjusted EBITDA Long-term target model breakeven in 2021 on track Revenue take rate (% GB) Adjusted EBITDA margin (% Revenue) Adjusted EBITDA, % Revenue Mobility 25% 45% Delivery 15% 30% 25% Uber 25% Achieve quarterly Mobility achieved 30% EBITDA margin profitability pre-COVID, and we expect actions
Slide 44: Healthy liquidity position, with equity stakes providing further optionality
Healthy liquidity position, with equity stakes providing further optionality Liquidity Position Equity Stakes $10.1B $6.8B Other $0.4B $1.2B ST Investments $1.0B $1.2B $2.3B $5.6B Unrestricted Cash $6.3B * Amounts as of Q4 2020 and does not reflect sale of $207 million of Didi shares completed in Q1
Slide 45: Investments in leading Mobility and Delivery assets
Investments in leading Mobility and Delivery assets Provides app-based transportation services, including taxi hailing, private car hailing, social ride-sharing and bike sharing; on-demand delivery services; and automobile services, including sales, leasing, financing, maintenance, fleet operation,
Slide 46: Investments in advanced technologies
Investments in advanced technologies ~26% Developer of autonomous vehicle technology designed to create self-passenger vehicles, light commercial vehicles, stake1 and heavy-duty trucks across a range of applications. The company's uses advanced machine learning software and multiple sensor hardware
Slide 47: Board & Sustainability
07 Board & Sustainability
Slide 48: Diverse and Experienced Board
Diverse and Experienced Board Ronald Sugar (Chair) Revathi Advaithi Ursula Burns Robert Eckert Amanda Ginsberg Former Chairman & CEO, CEO, Former Chairman and CEO, Partner, FFL Partners; Former Former CEO, Northrop Grumman Flex Ltd. VEON CEO, Mattel Match Group Age: 72 Age: 53 Age: 62 Age: 66 Age: 5
Slide 49: Diverse and Experienced Board Profile
Diverse and Board Profile Experienced 40% 30% 90% Board Independent Gender Diverse Ethnically Diverse Board Tenure Skills & Experience Global Company Leadership 9 0-1 Yrs 3 Financial Expertise 10 1-4 Yrs 6 Consumer and Digital Experience 7 Innovation, Tech, and High-Growth Experience 6 4+ Yrs 1 Govt
Slide 50: Uber is committed to sustainability
Uber is Local Driver/ Diversity, committed to delivery person equity, inclusion Impact well-being & culture sustainability as we reimagine the way the world Platform Ethics COVID-19 moves for the better and work to safety & compliance response make real life easier to navigate for everyone. User Cli
Slide 51: Selected 2021 ESG commitments & priorities
Selected 2021 ESG commitments & priorities Support communities Preserve flexibility Follow through on our in driving recovery from and improve the quality commitment to become an COVID-19 and experience of anti-racist company internally independent work and for the advancement of our stakeholders Ad
Slide 52: Non-GAAP reconciliations
Non-GAAP reconciliations
Slide 53: Adjusted EBITDA Reconciliation (Unaudited)
Adjusted EBITDA Reconciliation (Unaudited) $ in Millions Three Months Ended Dec 31 ‘19 Mar 31 ‘20 Jun 30 ‘20 Sep 30 ‘20 Dec 31 ‘20 Mobility $742 $581 $50 $245 $293 Delivery (461) (313) (232) (183) (145) Freight (55) (64) (49) (73) (41) All Other (67) (63) (23) - - ATG and Other Technology Programs (
Slide 54: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations (Unaudited) $ in Millions Three Months Ended Dec 31 ‘19 Mar 31 ‘20 Jun 30 ‘20 Sept 30 ‘20 Dec 31 ‘20 GAAP Cost of Revenue 1,605 1,491 924 1,298 1,441 Goodwill and asset impairment/loss on sale of assets - - (10) - - COVID-19 response initiatives - (5) (22) (16) (13)
Slide 55: GAAP to Non-GAAP Reconciliations (Continued)
Continued: GAAP to Non-GAAP Reconciliations (Unaudited) $ in Millions Three Months Ended Dec 31 ‘19 Mar 31 ‘20 Jun 30 ‘20 Sept 30 ‘20 Dec 31 ‘20 GAAP Sales and marketing $1,251 $885 $736 $924 $1,038 Restructuring and related charges (4) - (22) - 1 Acquisition, financing and divestitures related expe
Slide 56: Net Income (loss) and Adjusted EBITDA as a % of Revenue
Net Income (loss) and Adjusted EBITDA as a % of Revenue $ in Millions Three Months Ended Dec 31 ‘19 Mar 31 ‘20 Jun 30 ‘20 Sep 30 ‘20 Dec 31 ‘20 Revenue 3,747 3,248 1,913 2,813 3,165 Net income (loss) attributable to Uber Technologies, Inc. (1,096) (2,936) (1,775) (1,089) (968) Net income (loss) as a