Uber TechnologiesUBER

01Uber operates a unified platform spanning mobility, delivery, and freight that allows it to amortize technology, driver/courier supply, and consumer acquisition investments across multiple verticals. As each segment grows, the shared infrastructure becomes more valuable and harder for single-vertical competitors to replicate, creating compounding returns on platform investments.

02We generate substantially all of our revenue from fees paid by Drivers and Merchants for use of our platform We act as an agent in these transactions by connecting consumers to Drivers and Merchants to facilitate a Trip, meal, grocery or other delivery service Revenue increased $1.5 billion or 12% in the three months ended June 30, 2026, primarily attributable to an increase in Gross Bookings of 24% Cost of revenue, exclusive of depreciation and amortization, increased $204 million or 3% in the three months ended June 30, 2026

03Uber's strong cash generation and capital markets access allow it to simultaneously pursue large-scale consolidation in delivery (Delivery Hero, Getir) and mobility (Blacklane) while returning capital to shareholders via buybacks. This dual deployment capacity positions the company to accelerate market share gains and reduce competitive intensity in key international markets.

04If, as a result of legislation or judicial decisions, we are required to classify Drivers as employees, workers or quasi-employees where those statuses exist, we would incur significant additional expenses for compensating Drivers To comply with Proposition 22, we have incurred and expect to incur additional expenses, including expenses associated with a guaranteed minimum earnings floor for Drivers, insurance for injury protection and subsidies for health care. We do not expect these changes will have a material impact on our business, results of operations, financial position, or cash flows In November 2020, California voters approved Proposition 22... we expect that Drivers will be able to maintain their status as independent contractors under California law The California Supreme Court upheld the constitutionality of Proposition 22