129 Ride-Hail Is Likely To Create An $11 Trillion Addressable Market At $0.25 cents per mile, autonomous transportation could serve a wider population than human-driven ride-hail does today. In the meantime, based on the value that consumers place on their time, demand at higher price points could be significant. Ride-Hail Addressable Market* $4.50 Price Points ($): $4B $34B: Existing addressable market for 4.00 3.00 2.00 1.10 0.60 0.50 0.25 $4.00 ride-hail companies in Western markets charging $2-$4 per mile IS $3.50 X A $3.00 $30B T O e $1T: Addressable ridership in Western markets at ~$1 B il M$2.50 RO r e P $2.00 $100B ice $2.4T: Non-commuting miles in higher income r countries priced at ~$0.60 per mile P$1.50 $1.00 $2.75T: Long tail of demand priced at human driven ride- hail prices of $0.50 per mile in lower income countries $5T: Low cost, accessible autonomous $0.50 travel at $0.25 per mile $0.00 0 1 5 10 30 Miles (Trillions) *$11 Trillion is the addressable market, not the revenue we expect in 2030, as we do not expect autonomy to penetrate all addressable miles. Sources: ARK Investment Management LLC, 2024. This ARK analysis is based on a range of underlying data from external sources, 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.