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Slide 2: Disclaimer
Disclaimer This document dated 17 March 2023 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 the date of this document. It should be read in conjun
Slide 3: Business Update, CY23 Strategy, Financial Statements
Business cY23 Update Strategy Chris Hi Chris Hulls process of bei Financial Stat A
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Slide 5: CY22 User Highlights
CY22 USER HIGHLIGHTS Connecting families and saving lives L\ Miles driven with Life360 Crash Detection 2,145,532 34,461 Help alerts sent Ambulances dispatched 6) 223 billion 700 billion Tile Bluetooth location updates A Vv 26 billion Safe arrival notifications Qa 17 million Tile “items left behind”
Slide 6: CY22 Achievements
CY22 ACHIEVEMENTS Cementing our position as the market-leading family safety membership service © Delivered strong core subscription momentum fg Executed Tile integration strategy vill Established a pathway to profitability Global Monthly Active Users + 37% YoY Full team integrations of Life360, Til
Slide 7: CY22 Results Summary
CY22 RESULTS SUMMARY Delivering on growth Commentary cy2i CcY22. %chYoY CY22 Guidance Strong subscription revenue momentum, up 77% including Tile and Jiobit subscriptions, and 54% for Life360 subscriptions on a like- for-like basis (unaudited) Revenue _ Subscription 86.6 1533 77% Hardware revenue co
Slide 8: Accelerating Subscription Revenue Growth
ACCELERATING SUBSCRIPTION REVENUE GROWTH AMR has more than tripled since our IPO in May 2019 Quarterly Recurring Revenue ($M)* Quarterly Annualized Monthly Revenue ($M)* 250 +99% +61% CAGRin YoY growth in recurring 00: December 2022 revenue since Annualized cyi6 Monthly revenue 150 02) 100 a II a |
Slide 9: Global MAU Reaching New Heights with Strong Retention
GLOBAL MAU REACHING NEW HEIGHTS WITH STRONG RETENTION Year-on-year growth of 37% Life360 Core Monthly Active Users (MAU)(M) Life360 Core Returning Monthly Active Users by cohort (RMAU)*(M) 0 Q 31% U.S. MAU growth ¢ 45 ey ‘ RMAU strength 49% reflects increasing International ai engagement MAU growth
Slide 10: Strong subscription growth across U.S. and international
Strong subscription growth across U.S. and international, with consolidated revenue uplift of 77% including the contribution of Tile and Jiobit subscriptions Core Life360 subscription revenue seein growth of 54%, in line with guidance provided in August 2022 Global revenue growth underpinned by 23%
Slide 11: Paying Circle Growth and Accelerating ARPPC Growth
PAYING CIRCLE GROWTH AND ACCELERATING ARPPC GROWTH Price increase accelerating ARPPC uplift Paying Circles by product line (000s)* Average Revenue Per Paying Circle (ARPPC) ($) Q4'22 ARPPC US Paying Circles increased 23% YoY increased a for US subscribers 17% YoY while raising reflecting price price
Slide 12: Hardware revenue
Standalone hardware positions Tile item location tracker as part of the Life360 ecosystem. This includes prioritizing inventory for bundled membership distribution to drive subscription revenue growth Results reflect strategic shift to prioritize higher margin sales channels to drive stronger unit e
Slide 13: Other Revenue
OTHER REVENUE Revenue stab zation reflects de-risking of Data business Data + New partnership with Placer.ai in January 2022 transitioned Life360 solely to sales of aggregated insights + Intentional decision to trade off growth opportunity for predictability and reduced regulatory risk Lead Generati
Slide 14: Chris Hulls, Co-Founder and CEO
Chris Hulls, Co-Founder an
Slide 15: Life360 is on a mission to simplify safety so families can live fully
Life360 is on a mission to simplify safety so families can live fully Safety and security is a multi-billion dollar category and the incumbents have not adapted to the needs of digitally native consumers. Life360 is taking a mobile and family first approach to disrupt the market. @ tteseo C22 Result
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Slide 17: Strategy Update: Invest in the Core
STRATEGY UPDATE Invest in the Core Continue to improve the core experience - increase user engagement for long-term growth Set your status 9S tO ‘4 Battery is at 9% Sate driving features ae now paused. Remind Kayla to charge. Koyla #8 Completed a Smi drive * Ended near Whispering Hill Rd, Oakland #
Slide 18: Strategy Update: Drive Membership
STRATEGY UPDATE Drive Membership Leverage hardware bundling and pricing power to drive continued subscription revenue growth Included in your Life360 Silver Membership Leverage pricing power to increase ARPPC 7 a . + U.S. Android price increase to Drive Membership with Tile bundling take effect from
Slide 19: Strategy Update: Drive Membership
STRATEGY UPDATE Drive Membership Leverage Tile category creation through differentiation Don’t lose what you can’t live without. NEW ANTI-THEFT SAFETY FEATURE
Slide 20: Strategy Update: Expand Internationally
STRATEGY UPDATE Expand internationally Establish a beachhead for international expansion Usa el botén SOS de Life360 si note sientes seguro + Establishment of dedicated international management team based in the UK reat) ined + Launch of triple tier premium lias it membership in the UK in CY23 H2, f
Slide 21: Canada case study illustrates international upside
STRATEGY UPDATE Expand internationally Canada case study illustrates International upside ership lounch versus pre-Membership launch
Slide 22: Strategy Update: Maintain Financial Discipline
STRATEGY UPDATE Maintain financial discipline At pivot point to leverage scale in the cost base Operating Costs by category declining as % total revenue* NY% N% 92% 85% 26% n% iieg 21% 23% 24% one cy20 cya cy22 *Operating costs exclude Cost of Soles, Depreciation and Amortization, Stock Based Compen
Slide 23: ESG: Progressing Our Sustainability Journey in CY22
ESG : PROGRESSING OUR SUSTAINABILITY JOURNEY IN CY22 Life360 Core Values are Family Safety and Security i + Our Values: Refreshed values following the acquisitions of Tile and Jiobit + Culture: Established a new approach to create a culture of belonging + People and talent training: Launched a forma
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Slide 25: Financial Overview: Pathway to profitability
FINANCIAL OVERVIEW Pathway to profitability CY23 Full year of price increases and cost efficiencies of Positive Adjusted EBITDA* & Revenue and Cost history and outlook Profitability targets Revenue drivers cyai cy22 cy23 Beyond Expense : : —Revenue Operating costs drivers “Adjusted EBITDA was previo
Slide 26: Financial Overview: Market leading retention metrics
FINANCIAL OVERVIEW Market leading retention metrics Commentary US Organic User Retention + The line chart indicates how long users within a given cohort remain Relative retention by cohort (% total) Month 1user retention over time ices with Life36 100% sox 80% Month 1 user retention increased in pas
Slide 27: Financial Overview: User cohort cumulative revenue
FINANCIAL OVERVIEW User cohort cumulative revenue $M* Quarter 1 Quarter 2 Commentary $30 $30 CY22 Q1 revenues increased due bo % to higher conversion rates exiting = CY21, and higher registrations $10 $10 CY22 Q2-Q3 revenues modestly ® $0 above CY21, with month 1 =3E22222222222222222222 =52225222222
Slide 28: Financial Overview: Marketing Payback
FINANCIAL OVERVIEW Marketing Payback $M Commentary Quarter 1 Quarter 2 + Blended summary provides performance insight into overall 95 $15 efforts across all channels in —108 ——101 ——1020 102] 1022 2018 2019 2020 2021 ——m 2022 aggregate s10 0 CY'22 user acquisition and TV spend increased, building on
Slide 29: Significant U.S. ARPPC uplift from price increases
FINANCIAL OVERVIEW Significant U.S. ARPPC uplift from progressive price increases in CY22 H2 Pricing Summary U.S. price increases implemented in CY22 H2 $200 < ; All New Subs S + android) (ron hie sw @ Before seo Sum No change Annual 40 . - - acs y nted by mic Before aoe $100 $1499 Pletinum ease ann
Slide 30: Net subscription revenue retention above 100%
FINANCIAL OVERVIEW Net subscription revenue retention above 100% even as absolute growth in subscribers accelerates Net Revenue Retention - Subscription (vs Previous Half)* 120% 100% 80% 60% 40% 2HI8 qHI9 2H19 1H20 2H20 1H21 2H21 1H22 2H22 mmm Net revenue retention (%) —==Gross subscriber adds (000s
Slide 31: Key Financial Metrics (Non-GAAP)
FINANCIAL OVERVIEW Key Financial Metrics (Non-GAAP) INCOME STATEMENT USS. subscription revenue 136.1 722 76% ~_ International subscription revenue 172 93 85% jubscription revenue 153.3 86.6 7% Hardware revenue 479 10 NM ‘Other revenue 274 251 8% "Non-GAAP Gross Profit 90.7 71% Non-GAAP Gross Margin
Slide 32: Income Statement (GAAP)
FINANCIAL OVERVIEW Income Statement (GAAP) SM cyail Revenue Subscription Hardware ‘Other Total revenue Cost of other revenue 6) Total cost of revenue (22.8) Gross Profit 89.9} Operating expenses Research and Development (1026) 10) Sales and mark 24) (47.5) General and administrative (48) (237) Total
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Slide 34: Outlook
A Outlook For CY23 Life360 expects to deliver: * Core Life360 subscription revenue growth (excluding Tile and Jiobit) in excess of 50% YoY; + Hardware revenue growth of 0% to 5% reflecting the continuing current challenges in the category; * Other revenue of approximately $26 million; * Consolidated
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Slide 37: Appendix: Operating Metrics
APPENDIX 1 Operating Metrics (in millions, except ARPPC,ARPPS,ASP) Life360 Core* Monthly Active Users (MAU) - Total 33.8 35.5 38.3 42.0 47.0 48.6 US 22.2 23.7 25.1 27.0 29.3 30.9 International 1.6 18 13.2 4.9 7 17.6 Australia 0.8 1.0 1.0 u 1.2 14 Paying Circles - Total Wl 1.2 1.3 14 15 15 US - Total
Slide 38: Cost of Revenue and Operating expenses reconciliation
APPENDIX 2 Cost of Revenue and Operating expenses GAAP to Non-GAAP reconciliation Cost of revenue Operating expenses SM cy22 cy21 $M cy22 _ Cost of subscription revenue, GAAP 30.7 78 Research and Development expense, GAAP 102.5 Less: Depreciation and amortization (1.0) (0.2) Less: Stock Based Compen
Slide 39: Balance Sheet (GAAP)
APPENDIX 2 Balance Sheet (GAAP) Dec 2022 Dec 2021 unaudited) Cash and cash equivalents 75.4 231.0 Restricted cash, current 3.3 - ‘Accounts receivable, net 331 18 Inventor 108 2.0 14 13_ 85 106 Total current assets 142.7 256.7 Restricted cash, noncurrent 16 0.4 Property and equipment, net 0.4 06 Cost
Slide 40: Cash Flow Statement
APPENDIX 2 Dec 2022, Doc 2021, (Gnaudited) Cosh Flows from Operating Activities Netloss we). 3.6) “Adjustments to reconcile net loss to net cash used in operating activities: _ Depreciation ond amortization 92 ‘Amortization of costs copitalized to obtain contracts 29 Sto ompensation exper 347 ‘Compe
Slide 41: Non-GAAP Financial Measures
APPENDIX 3 Non-GAAP Financial Measu res EBITDA Net loss $ (91,629) $ (63,557) Add (deduct): Convertible notes fair value adjustment (1.786) sn Derivative liability fair value adjustment ® (1.295) 738 Provision (benefit) for income taxes 312 27) Depreciation and amortization ® 9199 876 Other (income)
Slide 42: Non-GAAP Financial Measures cont'd
APPENDIX 3 Non-GAAP Financial Measures cont’d The following table presents a reconciliation of net loss, the most directly comparable GAAP measure, to Adjusted loss from ordinary acti after tax. cy22 cai EBITDA Net loss $ (71,629) $ (33.557) Stock-based compensation 34,680 1,938 Form 10 and IPO rela
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