138 Autonomous Drones Should Reduce Food Delivery Costs, Thanks To Regulatory Approvals Boosted during and after COVID, food delivery fees have doubled the average cost of baseline menu orders. Beyond line-of-sight drones without visual observers should reduce food delivery costs dramatically, thanks to recent FAA approvals. S Food Delivery Costs (Pre-Tax) Drone Delivery Price C I (10-mile Trip) T S I Meal Delivery Cost $24 G O L $18 S U r $16 O e ~50% M d O r $14 O N O r $12 T e P $12 AU s $10 ar l l $8 o ~90% D age $6 r $4 e Av $2 $0.35 $0 Meal App Delivery Self Pickup Drones Rolling With Line of Sight With Visual Observer Autonomous With Line-Of-Sight (at scale) Robots (at scale) Note: Numbers are rounded. ARK Investment Management LLC, 2024. This ARK analysis is based on a range of underlying data from external sources as of December 7, 2023, which may be provided upon request. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.