EXECUTIVE SUMMARY:OVERVIEW OF PELOTON 2021 Total Shareholder Returns ▪ Peloton is an interactive fitness platform with millions of 20% members, offering connected, technology-enabled fitness 0% classes that utilize its proprietary hardware ▪ The Company’s Connected Fitness products include the Peloton -20% Bike, Bike+, Peloton Tread and Tread+ -40% ▪ Peloton generates strong recurring revenue from its Members, -60% who pay subscription fees to access Peloton’s app or Connected Fitness products -80% -76% ▪ The Company has been challenged by a series of execution -100% errors; as a result, Q1 2022 revenue was down ~36% from the Jan-21 Apr-21 Jul-21 Oct-21 Company’s peak in Q3 2021 LTM Revenue by Source Total Revenue ($M) Enterprise Value $8,753 Million $1,262 Market Cap $8,043 Million $1,065 $937 25% $805 LTM Revenue $4,069 Million LTM Adj. EBITDA ($99) Million 75% EV/LTM Revenue 2.2x Employees (as of June 30, 2021) 8,976 Connected Fitness Revenue Subscription Revenue 2Q 21 3Q 21 4Q 21 1Q 21 LTM Revenue/Employee $453,342 Source: Bloomberg, Company filings. Note: Data as of February 4, 2022 unless specified otherwise. 5