YET, PELOTON’S RELATIVE SHAREHOLDER RETURNS HAVE BEEN ABYSMAL… 1-Year Total Shareholder Return Total Shareholder Return Since IPO Subscription Peers -26% Subscription Peers 52% Proxy Peers -45% Proxy Peers 52% Russell 1000 Growth 10% Russell 1000 Growth 74% Nasdaq 1% Nasdaq 76% S&P 500 18% S&P 500 57% -84% -5% -100% -75% -50% -25% 0% 25% 50% -25% 0% 25% 50% 75% 100% 2021 Total Shareholder Return Total Shareholder Return Since March 2020 Subscription Peers -13% Subscription Peers 19% Proxy Peers -31% Proxy Peers 29% Russell 1000 Growth 28% Russell 1000 Growth 66% Nasdaq 22% Nasdaq 64% S&P 500 29% S&P 500 57% -76% -8% -100% -75% -50% -25% 0% 25% 50% -25% 0% 25% 50% 75% 100% Source: FactSet. Note: Data as of February 4, 2022. Peer data refers to peer median. “Subscription Peers” include Match Group, Netflix, Roku, Sirius XM Holdings and Spotify. 21