<SEC-DOCUMENT>0001834584-25-000135.txt : 20250922
<SEC-HEADER>0001834584-25-000135.hdr.sgml : 20250922
<ACCEPTANCE-DATETIME>20250714162549
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001834584-25-000135
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250714

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Coupang, Inc.
		CENTRAL INDEX KEY:			0001834584
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-CATALOG & MAIL-ORDER HOUSES [5961]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				272810505
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		720 OLIVE WAY
		STREET 2:		SUITE 600
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101
		BUSINESS PHONE:		12063333839

	MAIL ADDRESS:	
		STREET 1:		720 OLIVE WAY
		STREET 2:		SUITE 600
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
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<title>Document</title></head><body><div id="i47d146e6835c48e7ada9c7e68c66f80b_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><img alt="image_0.jpg" src="image_0.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:137px"><font style="color:#c00000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%"> </font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:107%">July 14, 2025<br></font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:133%;text-decoration:underline">VIA EDGAR</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:133%"> </font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:133%">U.S. Securities and Exchange Commission</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:133%">Division of Corporation Finance</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:133%">Office of Trade &#38; Services</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:133%">100 F. Street, N.E.</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:133%">Washington, D.C. 20549</font></div><div style="margin-top:12pt;padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:700;line-height:133%">Re&#58;  &#160;&#160;&#160;&#160;Coupang, Inc.<br>Form 10-K for Fiscal Year Ended December 31, 2024</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:700;line-height:133%">File No. 001-40115</font></div><div style="margin-bottom:12pt;margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:133%">Dear Ms. Geddes and Mr. Friedman&#58;</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%">We are providing this letter in response to the comments of the staff of the Securities and Exchange Commission Division of Corporation Finance (the &#8220;Staff&#8221;) contained in the letter, dated June 26, 2025, regarding the above-referenced Form 10-K for the fiscal year ended December 31, 2024 of Coupang, Inc. (&#8220;Coupang,&#8221; the &#8220;Company&#8221; or &#8220;we&#8221;). For ease of reference, we have also reproduced below the text of the Staff's comments in italics directly above the Company's responses. Proposed revisions of our disclosures are marked with underlines or strikethroughs to facilitate the Staff&#8217;s review.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:107%;text-decoration:underline">Form 10-K for Fiscal Year Ended December 31, 2024</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:107%;text-decoration:underline">Consolidated Financial Statements</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:107%;text-decoration:underline">Notes to Consolidated Financial Statements</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:107%;text-decoration:underline">3. Segment Reporting, page 72</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%">1.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-style:italic;font-weight:400;line-height:115%;padding-left:9pt">Please tell us how your disclosure complies with the requirement to disclose how the chief operating decision maker uses your reported measure of segment profit or loss in assessing segment performance and deciding how to allocate resources pursuant to ASC 280-10-50-29.f. Refer to ASC 280-10-55-47.bb for guidance.</font></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%">We respectfully acknowledge the Staff&#8217;s comment. In our Form 10-Q for the quarter ended June 30, 2025 as well as in future annual filings, we will expand our disclosure as follows&#58;</font></div><div style="padding-left:54pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%">The CODM uses two profitability measures, Segment Adjusted EBITDA and Segment Gross Profit, in assessing segment performance and allocating resources to each segment. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%;text-decoration:underline">Segment Adjusted EBITDA and Segment Gross Profit are evaluated on a monthly basis by our CODM by monitoring actual results versus prior periods. This comparison is performed to make strategic assessments and decisions regarding segment profitability, resource allocation, pricing strategies and cost optimization and whether to reinvest profits into each of these segments or into other initiatives.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:8pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:125%">1</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><img alt="image_0.jpg" src="image_0.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:137px"><font style="color:#c00000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%"> </font></div></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%">2.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-style:italic;font-weight:400;line-height:115%;padding-left:9pt">Please tell us how you considered whether costs included in &#8220;operating, general and administrative&#8221; expenses were significant segment expenses in accordance with ASC 280-10-50-26A, or other segment items in accordance with ASC 280-10-50-26B.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-style:italic;font-weight:400;line-height:115%">In defining segment adjusted EBITDA, you state &#8220;other segment items in reconciling from net revenues by segment to Segment Adjusted EBITDA include cost of sales, operating, general and administrative expense, and the adjustments described below.&#34; However, it appears from the table on page 73 that cost of sales is a significant segment expense. Please advise. After considering the points above, please also revise to present any costs included in Segment Adjusted EBITDA that are not deemed significant segment expenses as other segment items on a segment basis.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%">We respectfully acknowledge the Staff&#8217;s comment. We advise the Staff that costs included in &#8220;operating, general and administrative&#8221; expenses are included in other segment items and do not include significant segment expenses regularly provided to the Chief Operating Decision Maker (&#8220;CODM&#8221;). The CODM is regularly provided Segment Adjusted EBITDA and Segment Gross Profit, from which segment cost of sales expense is easily computable. Accordingly, the disclosure included in our Form 10-K for the fiscal year ended December 31, 2024 disclosed segment cost of sales as a significant segment expense in accordance with ASC 280-10-50-26A. However, in addition to there being no expense information regularly provided to the CODM, the information regularly provided to the CODM does not provide the CODM enough information to easily compute other expenses categories included in reported segment profit or loss measures. Due to the adjustments for depreciation and amortization, equity-based compensation expense, impairments and other items that we do not believe are reflective of our ongoing operations included in both &#8220;cost of sales&#8221; and &#8220;operating, general and administrative&#8221; expense, the difference between Segment Gross Profit and Segment Adjusted EBITDA does not allow the CODM to easily compute &#8220;operating, general and administrative&#8221; expenses.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%">In our Form 10-Q for the quarter ended June 30, 2025, as well as, future interim and annual filings we will revise our disclosure to clarify the presentation of these other segment items as follows&#58; </font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%">Segment Adjusted EBITDA is defined as income (loss) before income taxes for a period before depreciation and amortization, equity-based compensation expense, interest expense, interest income, and other income (expense), net. Segment adjusted EBITDA also excludes impairments and other items that we do not believe are reflective of our ongoing operations. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%;text-decoration:line-through">Other segment items in reconciling from net revenues by segment to Segment Adjusted EBITDA include cost of sales, operating, general and administrative expense, and the adjustments described below.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:8pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:125%">2</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><img alt="image_0.jpg" src="image_0.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:137px"><font style="color:#c00000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%"> </font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:68.2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%">Reportable segment financial information is as follows&#58;</font></div><div style="margin-top:12pt;text-indent:0.7pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.839%"><tr><td style="width:1.0%"></td><td style="width:49.461%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.442%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.442%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.953%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:125%">(in millions)</font></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#00b5ee;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:125%">2024</font></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#00b5ee;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:125%">2023</font></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#00b5ee;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:125%">2022</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#31b4dd;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Net revenues</font></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Product Commerce</font></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">26,699&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">23,594&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">19,955&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Developing Offerings</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">3,569&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">789&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">628&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Total net revenues</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">30,268</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">24,383</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">20,583</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#31b4dd;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Cost of sales</font></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Product Commerce</font></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">18,594&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">17,313&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">15,280&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Developing Offerings</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">2,843&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">880&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">593&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Total cost of sales</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">21,437</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">18,193</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">15,873</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#31b4dd;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Gross profit</font></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Product Commerce</font></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">8,105&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">6,282&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">4,675&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Developing Offerings</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">726&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(91)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">35&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Total gross profit</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">8,831</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">6,190</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">4,710</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt"><font style="color:#31b4dd;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Other segment items</font><font style="color:#31b4dd;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline"> (1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Product Commerce</font></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">6,099&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">4,742&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">4,069&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Developing Offerings</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">1,357&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">375&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">260&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Total other segment items</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">7,456</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">5,116</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">4,329</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #31b4dd;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#31b4dd;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Segment adjusted EBITDA</font></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Product Commerce</font></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">2,006&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">1,540&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">606&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Developing Offerings</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(631)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(466)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(225)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #00b5ee;border-top:0.5pt solid #31b4dd;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Total segment adjusted EBITDA</font></td><td style="border-bottom:1pt solid #00b5ee;border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-bottom:1pt solid #00b5ee;border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">1,375</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-bottom:1pt solid #00b5ee;border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #00b5ee;border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td style="border-bottom:1pt solid #00b5ee;border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-bottom:1pt solid #00b5ee;border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">1,074</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-bottom:1pt solid #00b5ee;border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #00b5ee;border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td style="border-bottom:1pt solid #00b5ee;border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-bottom:1pt solid #00b5ee;border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">381</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-bottom:1pt solid #00b5ee;border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:133%;text-decoration:underline">(1)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:133%;padding-left:8.24pt;text-decoration:underline">Other segment items relate to operating, general and administrative expense, excluding depreciation and amortization, equity-based compensation expense, impairments and other items that we do not believe are reflective of our ongoing operations. The CODM does not regularly review disaggregated expense information included within &#8220;Other segment items&#8221; for any individual segment.</font></div><div style="text-indent:0.7pt"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:67.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Reconciliations of segment profit or loss&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:49.541%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.925%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.925%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.927%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:125%">(in millions)</font></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#00b5ee;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:125%">2024</font></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#00b5ee;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:125%">2023</font></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#00b5ee;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:125%">2022</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Total gross profit</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">8,831&#160;</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">6,190&#160;</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">4,710&#160;</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Operating, general and administrative</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(8,395)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(5,717)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(4,822)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Interest expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(140)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(48)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(27)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Interest income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">216&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">178&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">53&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Other expense, net</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(39)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Income (loss) before income taxes</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">473</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">584</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(93)</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:8pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:125%">3</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><img alt="image_0.jpg" src="image_0.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:137px"><font style="color:#c00000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%"> </font></div></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:49.541%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.925%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.925%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.927%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:125%">(in millions)</font></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#00b5ee;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:125%">2024</font></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#00b5ee;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:125%">2023</font></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#00b5ee;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:125%">2022</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Total segment adjusted EBITDA</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">1,375&#160;</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">1,074&#160;</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #00b5ee;padding:0 1pt"></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">381&#160;</font></td><td style="border-top:0.5pt solid #00b5ee;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Depreciation and amortization</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(433)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(275)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(231)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Equity-based compensation</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(433)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(326)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(262)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Acquisition and restructuring related costs</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(127)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">KFTC administrative fine (see Note 14)</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(121)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">FC Fire insurance gain</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">175&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Interest expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(140)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(48)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(27)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Interest income</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">216&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">178&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">53&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Other expense, net</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(39)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(19)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Income (loss) before income taxes</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">473</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">584</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:0 1pt"></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(93)</font></td><td style="border-bottom:1pt solid #31b4dd;border-top:0.5pt solid #31b4dd;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:125%">Note&#58; Amounts may not foot due to rounding.</font></div><div style="margin-bottom:30pt;margin-top:30pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%">***</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:0.7pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%">If you have any questions regarding the response set forth above, please do not hesitate to contact me by email at jonlee&#64;coupang.com.</font></div><div style="padding-left:216pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:133%">Sincerely,</font></div><div style="margin-top:12pt;padding-left:216pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:34.134%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:125%">&#47;s&#47; Jonathan Lee</font></div></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:6pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:125%">Jonathan Lee</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:6pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:125%">Chief Accounting Officer</font></div></td></tr></table><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:133%"><br><br></font></div><div style="padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:133%">cc&#58;    &#160;&#160;&#160;&#160;Harold Rogers, General Counsel &#38; Chief Administrative Officer, Coupang, Inc.</font></div><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:133%">Ruby Alexander, VP, Deputy General Counsel &#38; Corporate Secretary, Coupang, Inc.</font></div><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:133%">Lori Zyskowski, Gibson, Dunn &#38; Crutcher LLP</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:8pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:125%">4</font></div></div></div></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
