3 LACK OF FINANCIAL DISCIPLINE: INTERNAL CONTROLS ISSUES Peloton fails to maintain adequate internal accounting controls ▪ Peloton has failed to develop basic public company accounting We have identified a material processes under Mr. Foley weakness in our internal control ▪ There is no excuse for having inadequate accounting procedures and controls at a multi-billion-dollar company Source: Peloton Interactive, Inc. Fiscal Year 2021 10-K. Filed on August 27, 2021. 33