• We surpassed 150 million total rides and over $600 million in gross bookings in 2023

• We boosted our Adjusted EBITDA to over $90 million in 2023 which is an increase of more than 500% year-over-year

• We continue to lead the pursuit of shared, affordable, carbon-free travel in cities, while building toward long-term sustainability

We are thrilled to announce a consecutive record year in gross bookings, Adjusted EBITDA and total rides, building on our record-setting 2022. The year reflected our continued emergence in the shared electric vehicle industry and continues to position the business for long-term sustainability.

Key 2023 highlights include:

• Gross Bookings record of $616 million, a 32% increase over 2022

• Full-year positive EBITDA, and Adjusted EBITDA in excess of $90 million, a more-than 500% increase over 2022

• Completed a record 156 million trips in 2023 (about 5 trips every second for the entire year), while surpassing 500 million lifetime trips

• More than 42 cities saw trips double year over year

• 9.2 million new riders took their first Lime ride in 2023

• Over 3.1 million monthly riders active on average, with a peak surpassing 4.3 million in July

• Won over 90% of competitive permits

“Last year marked a watershed moment for Lime and the shared electric vehicle industry,” says Wayne Ting, our CEO. “We achieved significant growth in our gross bookings and Adjusted EBITDA. This is a strong affirmation that our team is building a resilient business capable of achieving our long-term mission. More riders took more rides on our e-bikes and e-scooters than ever before. I’m also heartened by cities’ continued embrace of our zero-emission, two wheeled transportation options as solutions to poor air quality, crippling congestion, inequitable transit services and the existential threat of climate change. On the heels of another record setting year, Lime is poised to continue our growth in 2024, with new vehicle options and plans for expansion to new cities.”

We achieved this breakthrough as a result of our vertically-integrated approach across three key areas: hardware development, software-enabled operations and local government relations. Keeping these core functions in-house enables us to deliver a differentiated experience for our riders and city partners. The outcome is a reliable, convenient and comparatively-affordable transportation service.

To continue toward our mission in 2024, we plan to explore new cities and business lines, expand AI-integrations into our business, launch a new vehicle type, and deepen our presence in existing cities.

Extending our social and environmental impacts in 2023

Our steadfast commitment to the local communities we serve is exemplified through our community impact work. We believe our impact extends beyond just our short-term rentals to address critical issues in cities around the world. These include improving equitable access to affordable and sustainable transportation via our reduced-price Lime Access program; removing barriers to voting via our Lime to the Polls initiative to support local democracy; and supporting dozens of local community partners and service organizations globally through our round-up donation program, Lime Hero. In 2023, we provided more than four million community impact rides across these three programs, a 45% increase over 2022.

Additionally, we continued to make strides in reducing our Scope 1, 2 and 3 carbon emissions in 2023, achieving a 37% reduction from our 2019 baseline.

We became the first shared electric vehicle company to set a Net Zero carbon target by 2030, and have it independently validated by the Science Based Targets Initiative. In pursuit of this target, more than 50% of our operational vans were converted to electric vans and e-cargo bikes in 2023. Finally, as a validation of our progress, we also pioneered a new pathway for micromobility through the rigorous California Low Carbon Fuel Standard in 2023.