California Voluntary Carbon Market Disclosures Act — Yelp Inc. 2024 Disclosure

Yelp Inc. (“we,” “us,” “our” or “Yelp”) is providing this disclosure pursuant to the California Voluntary Carbon Market Disclosures Act (“VCMDA”).

Yelp is committed to achieving net zero emissions by 2031 primarily through an operational reduction plan. This plan currently consists of carbon reduction initiatives through supplier engagement, clean power investments, clean travel, employee education, green investing and product enhancements. For residual emissions that we cannot eliminate through operational reductions, we plan to invest in high quality carbon removal programs to reach our goal of net zero. In late 2024, we purchased our first carbon offsets, as detailed below. We track our progress toward our net zero goal by comparing our annual emissions against our emissions in 2021, which we use as our baseline year. We currently rely on a third party to measure our emissions; such measurements have not been separately verified. For more information about our carbon footprint and carbon reduction initiatives, please refer to our most recent ESG Report.

Carbon Removal Programs

The table below sets forth information regarding the carbon offsets we purchased in 2024. These totals do not include pre-purchased carbon credits not yet delivered or other future carbon credit agreements. We plan to update this disclosure at least annually as required by the VCMDA.
 

Project Name	Business Entity Selling the Offset	Applicable Registry	Project ID No.	Offset Project Type	Location	Protocol	Verification
TIST Program in Kenya, VCS 003	Watershed Technology, Inc.	Verified Carbon Standard	VCS596	Carbon Removal: ARR	Kenya	AR-ACM0001	Environmental Services, Inc.
Indigo Ag	Watershed Technology, Inc.	Climate Action Reserve	CAR1459	Carbon Removal: ALM	United States	CAR Soil Enrichment Protocol Version 1.1	Aster Global Environmental Solutions Inc.

Forward-Looking Statements

This disclosure contains forward-looking statements regarding, among other things, our carbon reduction initiatives and our goal of achieving net zero by 2031, that are based on our current expectations, forecasts and assumptions and involve risks and uncertainties. Statements regarding our goals and commitments are aspirational and may also be based on estimates and assumptions under developing standards that may change in the future. As such, no guarantees or promises are made that they will be met or successfully executed, and actual results may differ materially. This disclosure represents Yelp’s current policy and intent and is not intended to create legal rights or obligations.

Many factors and uncertainties relating to our operations and business environment, all of which are difficult to predict and many of which are outside of our control, influence whether any forward-looking statements can or will be achieved. Any one of these factors, including as a result of changes in circumstances, estimates that turn out to be incorrect, standards of measure that change over time, assumptions not being realized or other risks and uncertainties, could cause our actual results to differ materially from those expressed or implied in any forward-looking statements.

Factors that could cause or contribute to such differences include, but are not limited to, factors included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our filings with the Securities and Exchange Commission (“SEC”), including in our most recent Annual Report on Form 10-K and our subsequent Quarterly Reports on Forms 10-Q, available at yelp-ir.com and the SEC’s website at sec.gov.