In May 2024, we acquired 8.4 million ordinary shares of Delivery Hero SE ("Delivery Hero"), a publicly traded online food delivery platform headquartered in Berlin, Germany. The pre-existing equity interest was accounted for as marketable equity security measured at fair value on a recurring basis. During the three months ended June 30, 2026, we acquired an additional equity interest in Delivery Hero for total cash consideration of $2.3 billion, increasing our total ownership to 24.99%. We concluded that we have the ability to exercise significant influence and prospectively transitioned to the equity method of accounting during the period. Immediately prior to this transition, we recognized a gain of $1.1 billion and $1.0 billion during three and six months ended June 30, 2026, respectively, which is included in the other income (expense), net on our condensed consolidated statements of operations. The fair value of Delivery Hero investment is $3.1 billion as of June 30, 2026.

Included in the carrying value of $3.5 billion was a basis difference related to the difference between the cost of the investment and our proportionate share of the net assets of Delivery Hero. The carrying value of the equity method investment is adjusted for our share in the income or losses of Delivery Hero and amortization of basis difference on a one-quarter lag basis.

On July 16, 2026, we entered into a business combination agreement with Delivery Hero. Pursuant to the agreement, Uber will launch a voluntary public takeover offer to acquire Delivery Hero. Under the terms of the takeover offer, Uber will offer Delivery Hero shareholders cash consideration of €41.50 per share, representing an equity value of $14.8 billion (implied for 100% of Delivery Hero). The takeover offer will be subject to a minimum acceptance threshold of 50% plus one share of Delivery Hero's outstanding share capital (inclusive of shares owned by Uber) and certain further conditions, including receipt of certain merger control and financial regulatory clearances. The transaction is expected to close in the second half of 2027.

We will fund the takeover offer through existing cash on our balance sheet and new debt financing. On July 16, 2026, we executed a bridge credit agreement, which provides for €14.2 billion in aggregate amount of commitments for senior unsecured loans.

In April 2023, we entered into a series of agreements with Emirates Telecommunication Group Company (“e&”) whereby e& will contribute $400 million into the Careem non-ridesharing business (“Careem Technologies”) in exchange for a majority equity interest. Upon closing of the transaction in December 2023, e& acquired a majority stake in Careem Technologies and we retained a minority ownership interest. Careem Technologies is considered a related party to us upon the closing of the transaction. We continue to fully own the ridesharing business of Careem.

Upon closing of the transaction, we received two seats on Careem Technologies’ board and retained an approximately 42% equity ownership interest consisting of common stock in Careem Technologies. The investment was determined to be an equity method investment due to our ability to exercise significant influence over Careem Technologies. During the three months ended June 30, 2026, we acquired additional equity interest of Careem Technologies and our equity ownership interest was approximately 45% as of June 30, 2026.