Slide 1: For personal use only
For personal use only
Slide 2: Disclaimer
Disclaimer =x. document dated 26 August 2021 has been prepared by Life360, Inc. (ARBN 629 412 942) (Company) and is provided for information purposes only. It contains summary information about the Company and its activities and is current as at = date of this document. It should be read in conjunct
Slide 3: Agenda
@ tites60 Agenda Business and Strategy Update Chris Hulls, Co-Founder and CEO Financial Overview Russell Burke, CFO Outlook & Strategic Review Update Chris Hulls, Co-Founder and CEO Q&A Chris Hulls and Russell Burke Appendix 1. Operating metrics 2. User economics 3. Life360 Membership offering Note
Slide 4: Business Update
iness Update Bus Lf Ajuo 9sn feuosied 105
Slide 5: CY21 H1 Performance
CY21 HI! Performance Growth accelerating in Q2’21 with recovery from COVID disruptions ‘= (©) @ S i) =) a I million + — 32.3 million million @ Monthly Active Users (MAU) Paying Circles = B — @) se All-time peak despite 54% lower paid Q2'21 delivered record quarterly 6 acquisition spend than 1H’'19 h
Slide 6: Connecting families and saving lives
Connecting families and saving lives 66 360 told us my grandson was in a motorcycle accident as soon as it happened. We were able to get to him as soon as the ambulance got the hospital by following the 360 app, we know exactly where he was. 35 miles away... 45 minutes before the police called to no
Slide 7: Strong CY21 H1 financial performance
Strong CY21 H1 financial performance Strong revenue growth driven by Direct revenue* ($M) Investing for growth** ($M) mDirect Indirect (NAIC = User Acquisition 9.4 eT Commissions ¥ 16.3 137 9.0 Cost of revenue @®) = Other costs cYI9 HI CY20 HI cy2iH1 CYI9HI CY20 HI cy2iH1 EBITDA Loss reflects growth
Slide 8: Accelerating revenue growth post COVID-19
Accelerating revenue growth post COVID-19 Growth in every quarter through COVID, accelerating in 2Q21 Quarterly Revenue* ($M) Quarterly Annualised Monthly Revenue ($M) 120.0 30.0 mDirect Indirect 100.0 25.0 80.0 20.0 15.0 60.0 10.0 40.0 5.0 20.0 0.0 0.0 eeQerrerepeeeeeseogocong 2 2¢ ¢ ¢ @ g g Gg | 8
Slide 9: Global MAU reaching new peak
Global MAU reaching new peak Strong underlying trends accelerated by Q2 TikTok surge Monthly Active Users (MAU)(M) Q2 21 total registration surges from TikTok +3,628% Spanish speaking 121 English speaking Portuguese speaking Italian speaking ee H16. 2HI6 IHI7 2HI7_ IHI8. 2HI8_-THI9. «-2HI9. 1H20 2H2
Slide 10: Direct Revenue
Direct Revenue US direct revenue has doubled in 2 years Direct revenue* ($M) 4.0 3.8 ay 32.4 24.4 16.1 CY19 HI CY20 H1 CY21H1 US = International *CY20 HI revenue is normalised revenue excluding non-recurring adjustment. Direct revenue allocations by region for CY20 Hl and CY19 HI have been reclassif
Slide 11: Accelerating Paying Circle growth
Accelerating Paying Circle growth Paying Circle acceleration combining with higher ARPPC to drive Direct Revenue Paying Circles by product line (000s) Average Revenue Per Paying Circle* (ARPPC) ($) 1,000 A 800 >. ° —=us International $84.43 New cohort $79.65 360 Plus (US & Int'l) > $7420 “Mocibere $
Slide 12: Accelerating Paying Circle net additions
Accelerating Paying Circle net additions Increasing conversion despite low levels of marketing spend CAHRVID-19 Ql20 -Q220 320 Q420 ai2ia22i e@ Q2’21 new US registrations matched pre- COVID Q1’20 levels with significantly lower paid acquisition spend @ uteseo Q120 Improving conversion CHVID-19 Q220
Slide 13: Post-purchase welcome screen
Post-purchase welcome screen out cm ost “so on “te oon “it x x x x Get help with Emergency Upgrade for 24/7 live Unlock your Driver Reports Get unlimited Place Alerts Dispatch emergency support Know how (and what) your fori Recelve unlimited alerts or al of your Alive agent dispatches emergency Sile
Slide 14: Indirect Revenue
Indirect Revenue US indirect revenue has almost doubled in 2 years Indirect revenue ($M) 0.9 CY19 HI CY20 H1 CY21H1 mUS International @ uteseo Indirect revenue as a % revenue (CY21 H1) Indirect International Direct US Direct CY21 HI Results August 2021 4
Slide 15: Contribution to Indirect Revenue
. Data revenue increased YoY, with performance ahead of expectations in light of implementation of Identifier for Advertisers (IDFA) . Auto insurance lead generation with Allstate formally launched in May 2019 Monthly contribution of $0.5 million of high margin revenue . . While COVID-19 has impacte
Slide 16: For personal use only
For personal use only
Slide 17: For personal use only
For personal use only • • • • • • • • • • • •
Slide 18: Launch of free data breach alerts
=—Build User Base 5 Launch of free data breach alerts more internet usage during the pandemic surveyed Life360 members have experienced ID theft children have their identities stolen each year higher cost for families with children to resolve fraud than those without oD) iD) =) @ < (eS) 1) — iD) (or
Slide 19: Build User Base: free data breach alerts drive conversion
Build User Base How free data breach alerts drive conversion Johnson Family ‘© Johnacn Fomity >? Dighal sefety po Digital Safety 8 9 tis iar Data Breach Alerts Call us for help| Turon alertsto view details and protect your whole family online q ID Theft Protection. cold Driving Safe te the complex o
Slide 20: Build User Base: Family Safety Council
Build User Base “= New Family Safety Council created with well-known celebrities and influencers to help shape product Hn and marketing strategy: =) Vanessa Bryant => Wife of the late Kobe Bryant @ Chip and Joanna Gaines <= Television personalities 2 Tony Hawk g_ Professional skateboarder @) Jada an
Slide 21: Build User Base: New brand campaign
Build User Base ss New brand campaign ‘= (oe) Strategy ) Multiply existing lower funnel marketing efforts and tell the broader membership story ) beyond the location use case Brand goal ici Establish Life360 as the category leader in Cc family coordination and safety solutions Os Target audience ” P
Slide 22: Grow membership
\ ‘]=Grow membership ‘e) Strong base for international @ rollout of Membership Launch of full Membership experience in Canada in H2 Jon.19 Apr.19 — Jul,19Oct,19 Jan, 20. Apr,20 Jul,20 Oct,20 Jan,21 Apr, 21 Strong engagement in target Tier 2 countries Tier 2 growth rates June 2021 versus January 2019
Slide 23: Membership 2.0 bringing membership to life
Grow membership Membership 2.0 bringing membership to life Accelerating product marketing initiatives to enhance membership communications and highlight the expanded feature set @ ttes60 Introducing Inbox sep you updated on everything fo360 membership has to offer — like exciting new features. pro t
Slide 24: Expand reach and revenue
Expand reach and revenue Jiobit acquisition expands 12,000 7.0 addressable market to young v.00 60 children, seniors and pets 8,000 80 6,000 4.0 CH#VID-19 4000 C#VID-19 3.0 eo egs 2.0 Acquisition terms 2.000 bo Definitive agreement signed on Oe 29120220 Hal C8 ue aie 20 azo aa 28 July 2021 AEST Upfr
Slide 25: For personal use only
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Slide 26: User retention by cohort
Relative retention by cohort (% total) Month 1 user retention over time . — Line charts indicate how lor y Mar-17, Mar-18 Mar-19 9 ape . . 100% ——$—Mar-20 —— Mar-21 60% within a given cohort remain with % - 80 70% Life360 60% peas . 60% COVID-19 had an initial negative 40% impact on organic users fo
Slide 27: Net subscription revenue retention exceeds 100%
Net subscription revenue retention exceeds 100% CH#VID-19 THI9 2H19 1H20 2H20 1H21 Net revenue retention is measured based on the revenue in the final month of the previous period compared to the revenue from the same set of users earned over the next six months e.g. for IHI9, revenue retention is c
Slide 28: Unit Economics
Unit Economics Significant US ARPPC uplift from the launch of membership with significant room for growth @ ttesoo $130 $120 $no $100 $90 $80 $70 $60 $50 $40 OM 3M OM 12M 18M 21M 24M 27M 30M 33M 36M 39M 42M 2Q17 3Q17 4Q17 1018 2Q18 3Q18 4a18 1a19 2019 3Q19 4ai9 1020 220 3Q20 40200 ———=1021 © 2021 CY
Slide 29: Cohorts continue to perform in-line with expectations
Cohorts continue to perform in-line with expectations 4018 ——=1019 2019 3Q19 1Q18 eee 2018 SQIS. —<al9 1020 2020 ——=3Q20 4020 1021 2021 ) “Marketing payback calculated as contribution profit, which includes cost of sales less sales & marketing expenses (excluding commissions and stock-based compensa
Slide 30: Income Statement Commentary
Income Statement Commentary $M CY20 HI CY21HI % ch YoY U.S. revenue e Direct revenue growth of 29% (excluding non- Direct 23.5 32.4 38% recurring adjustment) supported by 19% YoY growth Indirect 9.6 10.5 10% . . 7 an ; + finternarionalrevendel in Paying Circles to 1.0 million. ~14% increase in Direc
Slide 31: Balance Sheet Commentary
Balance Sheet Commentary Statutory Statutory $M. Dec 2020 June 2021 e Cash and cash equivalents decreased by $5.8m Cash and cash equivalents 56.4 50.6 largely reflecting cash outflow from operating Accounts receivable 9.0 12.0 activities Costs capitalised to obtain revenue contracts, net 3.4 23 e Ac
Slide 32: Cash Flow Commentary
Cash Flow Commentary e Net cash outflows from operating activities reduced Statutory EBITDA (pre user acquisition) (3.0) (8.0) by $0.6m Usa Gag uislitem Gets (4) (2.4) e Net cash outflows from investing activities related to Statutory EBITDA (7.1) (10.4) the convertible note receivable in connection
Slide 33: For personal use only
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Slide 34: Q3 business update
Q3 business update Resilient performance in the face of COVID-19 Delta wave * Q3 business update provided due to the recent rapid spread of the COVID- 19 Delta variant Current US registrations are showing considerable resilience, significantly outperforming the first COVID wave and showing a recent
Slide 35: Outlook
Outlook For personal use only @ ttes6o Life360’s strong Q2 performance in MAU and Paying Circles has continued into Q3 despite the rapid spread of the Delta variant in the US. As a result, we now expect Annualised Monthly Revenue by December 2021 in the range of $120-125 million for Life360’s core b
Slide 36: Strategic Review Update
Strategic Review Update a =I € The acquisition of Jiobit marks a milestone, but not a completion of the strategic review originally announced in February 2021. Life360 is actively evaluating opportunities to accelerate progress towards our vision of being the dominant platform for a much broader sui
Slide 37: For personal use only
For personal use only
Slide 38: Appendix
For personal use only
Slide 39: 1. Operating Metrics
1. Operating Metrics CY20 HI Monthly Active Users (millions) U.S. 12.7 16.3 20.3 International 10.4 8.9 12.1 Total 23.1 25.2 32.3 Paying Circles (millions) U.S. 0.53 0.67 0.82 International 0.16 0.17 0.19 Total 0.69 0.84 1.00 Direct ARPPC (US$ annualised)! U.S. 65.64 74.20 84.43 International 41.68
Slide 40: User cohort cumulative revenue
User cohort cumulative revenue $M* “4 “4 12 2 10 10 8 8 6 6 4 4 2 2 of o® Ss sages gees ssao ae Ss sa geese esses 1018 1219 1020 —1021 2017 2018 2019 2020 4 “4 12 12 10 10 8 8 6 6 4 4 2 2 ° ° ss Fa ge FF eg ss ee ess Ss Sa oeesseeosee 3Q17 3Q18 3Ql9 3020 4Q17 4Q18 4Q19 *Revenue per cohort includes g
Slide 41: 3. Life360 Membership offering
3. Life360 Membership offering Membership tiers @ ttes60 2 days of Location History 2 Place Alerts Fmily Driving Summary Crash Detection SOS Help Alert 7 days of Location History 5 Place Alerts Family Driving Sum Crosh Detection $100 in Stolen Phone Coverage Crime Reports SOS Help Alert Ws ain Unlim