Annual Report 2023

Annual Report

2023

Annual Report 202

Our Mission

To create a world where

all relationships are healthy

and equitable, through

Kind Connections.

Jonathan C. Korngold

Director

Jennifer B. Morgan

Director

Elisa A. Steele

Director

Pamela A. Thomas-Graham

Director

Bumble Inc.

Corporate Information

Board of Directors

Director

R. Lynn Atchison

Director

Matthew S. Bromberg

Director

Amy M. Grin

Director

Executive Ocers

Anuradha B. Subramanian

Chief Financial Ocer

Stock Exchange

Bumble Inc. stock is listed for trading on

Nasdaq under the ticker symbol “BMBL”.

Transfer Agent

Registered stockholder records are

maintained by our transfer agent:

Computershare

150 Royall Street

Canton MA 02021

US Toll-Free: 1-800-736-3001

International: 1-781-575-3100

Web: computershare.com/investor

Email: web.queries@computershare.com

Annual Stockholders Meeting Materials

A copy of the Company’s annual report

led with the Securities and Exchange

Commission (Form 10-K) and Notice &

Proxy Statement will be furnished without

charge to any shareholder upon request.

By Internet:

www.proxyvote.com

Whitney Wolfe Herd

Founder and Executive Chair

Ann Mather

Lead Director

Lidiane S. Jones

Chief Executive Ocer and

Sissie L. Hsiao

Director

Whitney Wolfe Herd

Founder and Executive Chair

Lidiane S. Jones

Chief Executive Ocer and

Director

By Email:

[email protected]

Investor Relations

Bumble Inc.

1105 West 41st Street

Austin, TX 78756

[email protected]

ir.bumble.com

By Phone:

1-800-579-1639

Annual Report

2023

UNITED STATES

SECURITIESAND EXCHANGECOMMISSION

Washington, D.C. 20549

FORM 10-K

(MarkOne)

☒

ANNUAL REPORT PURSUANTTOSECTION 13 OR 15(d) OF THESECURITIES EXCHANGEACT OF 1934

Forthe fiscal year endedDecember31, 2023

☐

TRANSITIONREPORTPURSUANTTOSECTION 13 OR 15(d) OF THESECURITIES EXCHANGEACT OF 1934

FORTHE TRANSITIONPERIODFROM

Commission File Number 001-40054

Bumble Inc.

(ExactnameofRegistrantasspecified in itsCharter)

Delaware 85-3604367

(State or otherjurisdictionof

incorporationororganization)

(I.R.S.Employer

Identification No.)

1105 West 41stStreet

Austin,Texas

78756

(Addressofprincipal executive offices)(ZipCode)

Registrant’s telephonenumber, including area code:(512) 696-1409

Securities registered pursuanttoSection12(b) of theAct:

Titleofeachclass

Trading

Symbol(s)Nameofeachexchangeonwhich registered

ClassAcommonstock,par value $0.01 pershare BMBL TheNasdaqStock Market LLC

Securities registered pursuanttoSection12(g) of theAct: None

Indicatebycheck mark if theRegistrantisawell-knownseasonedissuer,asdefined in Rule 405 of theSecuritiesAct.YES ☒ NO ☐

Indicatebycheck mark if theRegistrantisnot requiredtofilereports pursuanttoSection13or15(d) of theAct.YES ☐ NO ☒

Indicatebycheck mark whetherthe Registrant:(1) hasfiledall reports requiredtobefiledbySection13or15(d) of theSecuritiesExchange Actof1934 duringthe

preceding12months (orfor such shorterperiodthatthe Registrant wasrequiredtofile such reports), and(2) hasbeen subject to such filingrequirementsfor thepast90

days.YES ☒ NO ☐

Indicatebycheck mark whetherthe Registrant hassubmittedelectronically everyInteractiveDataFilerequiredtobesubmittedpursuanttoRule405 of RegulationS-T

(§232.405 of this chapter) duringthe preceding 12 months (orfor such shorterperiodthatthe Registrant wasrequiredtosubmit such files).YES ☒ NO ☐

Indicatebycheck mark whetherthe registrant is alarge accelerated filer, an accelerated filer, anon-accelerated filer, smallerreportingcompany, or an emerging growth

company. Seethe definitions of “large accelerated filer,”“accelerated filer,”“smallerreporting company,” and“emerging growth company” in Rule 12b-2ofthe

Exchange Act.

Largeaccelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smallerreportingcompany

☐

Emerging growth company

☐

If an emerging growth company, indicatebycheck mark if theregistranthas electednot to usethe extendedtransitionperiodfor complyingwith anynew or revised

financialaccountingstandardsprovidedpursuanttoSection13(a) of theExchange Act. ☐

Indicatebycheck mark whetherthe registrant hasfiledareport on andattestationtoits management’s assessmentofthe effectivenessofits internal controlover

financialreportingunderSection 404(b) of theSarbanes-OxleyAct (15U.S.C.7262(b))bythe registered public accountingfirmthatpreparedorissued itsauditreport.

☒

If securities areregisteredpursuanttoSection12(b) of theAct,indicatebycheck mark whetherthe financialstatementsofthe registrant includedinthe filing reflect the

correctionofanerrortopreviously issued financialstatements. ☐

Indicatebycheck mark whetherany of thoseerrorcorrections arerestatementsthatrequiredarecovery analysis of incentive-based compensationreceivedbyany of the

registrant’s executiveofficersduringthe relevant recovery period pursuantto§240.10D-1(b). ☐

Indicatebycheck mark whetherthe Registrant is ashell company(as definedinRule12b-2ofthe Exchange Act).YES ☐ NO ☒

As of June 30, 2023, whichwas thelastbusinessday of theregistrant’smostrecently completedsecond fiscal quarter,the market valueofthe shares of theregistrant’s

ClassAcommonstock held by non-affiliates of theregistrantwas approximately $1,661,183,147 basedupon theclosing priceof$16.78 pershare as reportedbyThe

Nasdaq StockMarketLLC on that date.

As of January 31, 2024, Bumble Inc. had129,422,501 shares of ClassAcommonstock,par value$0.01 pershare,outstanding and20sharesofClass Bcommonstock,

parvalue $0.01 pershare,outstanding.

AuditorFirmId: 42 AuditorName: Ernst&Young LLP AuditorLocation: NewYork, NY,USA

DOCUMENTS INCORPORATED BY REFERENCE

Portions of theregistrant’sdefinitiveproxy statementrelatingtoits 2024 AnnualMeetingofStockholders,orProxy Statement, to be filedhereafterare incorporated by

referenceintoPartIII of this AnnualReportonForm10-K. Exceptwithrespect to informationspecifically incorporated by referenceintothisAnnualReport, theProxy

Statementshall not be deemed to be filedasparthereof.

TableofContents

Page

PART I

Item 1. Business ................................................................................................................................................................... 7

Item 1A. Risk Factors.............................................................................................................................................................. 14

Item 1B. Unresolved StaffComments.................................................................................................................................... 44

Item 1C Cybersecurity ........................................................................................................................................................... 44

Item 2. Properties.................................................................................................................................................................. 45

Item 3. LegalProceedings .................................................................................................................................................... 46

Item 4. Mine Safety Disclosures.......................................................................................................................................... 47

Item 4A. InformationAbout OurExecutiveOfficers ............................................................................................................. 47

PART II

Item 5. Market forRegistrant’sCommonEquity,Related StockholderMatters andIssuer PurchasesofEquity

Securities..................................................................................................................................................................

Item 6. Reserved................................................................................................................................................................... 50

Item 7. Management’s Discussion andAnalysisofFinancial Conditionand Results of Operations.................................. 51

Item 7A. Quantitativeand QualitativeDisclosures About Market Risk................................................................................. 70

Item 8. FinancialStatementsand Supplementary Data........................................................................................................ 71

Item 9. Changesinand Disagreements With Accountants on Accountingand FinancialDisclosure................................. 116

Item 9A. Controls andProcedures .......................................................................................................................................... 116

Item 9B. OtherInformation..................................................................................................................................................... 116

Item 9C. Disclosure RegardingForeign Jurisdictions that PreventInspections 116

PART III

Item 10. Directors, ExecutiveOfficers andCorporateGovernance....................................................................................... 117

Item 11. Executive Compensation.......................................................................................................................................... 117

Item 12. Security OwnershipofCertain Beneficial Ownersand Management andRelated StockholderMatters................ 117

Item 13. CertainRelationships andRelated Transactions,and Director Independence........................................................ 117

Item 14. PrincipalAccountantFees andServices .................................................................................................................. 117

PART IV

Item 15. Exhibits,Financial StatementSchedules ................................................................................................................. 118

Item 16. Form 10-KSummary ............................................................................................................................................... 121

CAUTIONARY STATEMENTREGARDING FORWARD-LOOKING STATEMENTS

This AnnualReportonForm10-K, or this AnnualReport, contains “forward-looking statements”within themeaningofthe Private

Securities LitigationReformAct of 1995. Theseforward-looking statements reflect thecurrent viewsofmanagementofBumbleInc.

with respect to,among otherthings,its operations,including therecently announced plan to implementaglobalworkforce reduction

andrestructuring of our operations andits expected impact,its financialperformance, itsindustryand its business. Forward-looking

statements include allstatementsthatare not historical facts. In some cases,you can identifythese forward-looking statements by the

useofwords such as “outlook,” “believe(s),”“expect(s),”“potential,” “continue(s),”“may,” “will,”“should,” “could,” “would,”

“seek(s),”“predict(s),” “intend(s),” “trends,” “plan(s),” “estimate(s),”“anticipates,” “projection,” “willlikelyresult” andorthe

negative versionofthese wordsorother comparable wordsofafuture or forward-looking nature.Suchforward-looking statements are

subject to various risksand uncertainties. Accordingly, thereare or will be important factorsthatcouldcause actualoutcomesor

results to differmaterially fromthoseindicated in thesestatements. Thesefactorsinclude but arenot limitedtothosedescribed in Part

I, “Item1A—Risk Factors”.These factorsshouldnot be construedasexhaustiveand shouldberead in conjunctionwith theother

cautionary statements that areincludedinthisAnnualReport. Bumble Inc. undertakes no obligationtopublicly update or review any

forward-looking statements,whether as aresultofnew information, future developments or otherwise, except as requiredbylaw.

ABOUTTHISANNUAL REPORT

FinancialStatement Presentation

This AnnualReportincludescertain historical consolidated financialand otherdatafor Buzz Holdings L.P.,aDelaware limited

partnership(“BumbleHoldings”).BumbleHoldings wasformedprimarily as avehicle to financethe acquisition (the “Sponsor

Acquisition”)onJanuary 29, 2020 of amajoritystake in WorldwideVisionLimited by agroup of investment funds managedby

Blackstone Inc. (“Blackstone”).AsBumbleHoldings didnot have anyprevious operations,Worldwide Vision Limited, aBermuda

exempted limited company, andits subsidiaries is viewed as thepredecessortoBumbleHoldings andits consolidated subsidiaries.

Bumble Inc. wasincorporatedasaDelaware corporationonOctober5,2020. Priortothe completionofits initialpublic offering (the

“IPO”) on February 16, 2021, Bumble Inc. undertook certain reorganizationtransactions (the “ReorganizationTransactions”) such

that Bumble Inc. is now aholding company, andits sole material assetisacontrollingequity interest in Bumble Holdings.Asthe

generalpartner of Bumble Holdings,BumbleInc.now operatesand controls allofthe businessand affairsofBumbleHoldings, has

theobligationtoabsorblossesand receivebenefitsfromBumbleHoldings and, through Bumble Holdings andits subsidiaries,

conductits business. As aresult, theconsolidated financialstatementsofBumbleInc.will recognize theassetsand liabilitiesreceived

in theReorganizationTransactions at theirhistoricalcarryingamounts, as reflected in thehistoricalfinancial statements of Bumble

Holdings.BumbleInc.willconsolidateBumbleHoldings on itsconsolidated financialstatementsand record anon-controlling

interest,related to theCommonUnits (asdefined below) andthe IncentiveUnits (asdefined below) held by its pre-IPOowners, on its

consolidated balancesheetsand statements of operations.

Bumble Inc. hadnosignificantbusinesstransactions or activitiesprior to theReorganizationTransactions,and, as aresult, the

historical financialinformation reflectsthatofBumbleHoldings.

CERTAINDEFINITIONS

As used in this AnnualReport, unlessotherwise noted or thecontextrequiresotherwise,the following termshavethe following

meanings.Our keymetrics (BumbleApp Paying Users, Badoo Appand OtherPayingUsers,Total Paying Users, Bumble App

AverageRevenue perPayingUser, BadooApp andOther AverageRevenue perPayingUser, andTotal AverageRevenue perPaying

User)werecalculatedexcluding paying usersand revenue generatedfromOfficial,advertisingand partnerships or affiliates and, for

periods priortothe fourth quarter of 2023, excluding paying usersand revenue generatedfromFruitz.Beginning in thefourth quarter

of 2023, paying usersand revenuegenerated from Fruitz areincludedinour keyoperatingmetrics.

• “Badoo Appand OtherAverage Revenue perPayingUser” or “Badoo Appand OtherARPPU”isametric calculated

basedonBadoo Appand OtherRevenue in anymeasurement period dividedbyBadoo Appand OtherPayingUsers in

such period dividedbythe numberofmonths in theperiod.

• a“Badoo Appand OtherPayingUser” is auserthathas purchased or renewedasubscription plan and/or made an in-app

purchase on Badoo appinagivenmonthormadeapurchaseonone of our otherapps that we ownedand operatedina

givenmonth,ormadeapurchaseonother third-partyapps that used our technology in therelevantperiod. We calculate

Badoo Appand OtherPayingUsers as amonthlyaverage,bycountingthe numberofBadoo Appand OtherPaying

Usersineach monthand then dividing by thenumberofmonths in therelevantmeasurementperiod.

• “Badoo Appand OtherRevenue”isrevenue derivedfrompurchases or renewals of aBadoo appsubscriptionplan

and/or in-app purchases on Badooapp in therelevantperiod, purchases on one of our otherapps that we ownedand

operatedinthe relevant period, purchasesonother thirdparty apps that used our technology in therelevantperiodand

advertising, partnerships or affiliates revenue in therelevantperiod.

• “Blackstone”or“ourSponsor”refer to investment funds associated with Blackstone Inc.

• “Blocker Companies” refertocertain entitiesthatare taxableascorporations forU.S.federal income taxpurposes in

whichthe Pre-IPOShareholdersheldinterests.

• “Blocker Restructuring” referstocertain restructuringtransactions that resulted in theacquisitionbyPre-IPO

Shareholders of shares of ClassAcommon stockinexchange fortheir ownershipinterests in theBlocker Companies

andBumbleInc.acquiring an equalnumberofoutstanding Common Units.

• “Board of Directors” or “Board”referstothe board of directorsofBumbleInc.

• “Bumble,”the “Company,” “we,”“us”and “our”refer to Bumble Inc. andits consolidated subsidiaries.

• “BumbleApp AverageRevenue perPayingUser” or “BumbleApp ARPPU” is ametriccalculatedbased on Bumble

AppRevenue in anymeasurementperiod, dividedbyBumbleApp Paying Usersinsuchperioddivided by thenumber

of months in theperiod.

• a“Bumble AppPayingUser” is auserthathas purchased or renewedaBumble apporBumbleFor Friends app

subscriptionplanand/or made an in-app purchaseonBumbleapp or Bumble ForFriends appinagivenmonth. We

calculateBumbleApp Paying Usersasamonthlyaverage,bycountingthe numberofBumbleApp Paying Usersineach

monthand then dividing by thenumberofmonths in therelevantmeasurementperiod.

• “BumbleApp Revenue”isrevenue derivedfrompurchases or renewals of aBumbleapp or Bumble ForFriends app

subscriptionplanand/or in-app purchases on Bumble apporBumbleFor Friends appinthe relevant period.

• “BumbleHoldings”referstoBuzzHoldings L.P.,aDelaware limitedpartnership.

• “Class BUnits”referstothe interestsinBumbleHoldings called“ClassBUnits,” including theClass Bunits held by

Buzz Management Aggregator L.P.,thatwereoutstanding priortothe Reclassification.

• “Co-Investor”referstoanaffiliateofAccel Partners LP.

• “CommonUnits”referstothe newclass of units of Bumble Holdings createdbythe Reclassificationand doesnot

include IncentiveUnits.

• “Continuing IncentiveUnitholders”referstocertain pre-IPOholders of ClassBUnits whoholdIncentive Units

following theconsummationofthe ReorganizationTransactions andthe Offering Transactions.

• “Founder” referstoWhitney WolfeHerd, thefounderofBumbleapp, our former ChiefExecutiveOfficerand newly

appointed ExecutiveChair of theBoard of Directors, together with entitiesbeneficiallyowned by her.

• “Fruitz”referstoFlashgapSAS,which operatesthe Fruitz app.

• “HighVoteTerminationDate” meansthe earliertooccurof(i) sevenyears fromthe closingofthe IPOand (ii) thedate

theparties to thestockholders agreementceasetoown in theaggregate7.5% of theoutstanding shares of ClassA

commonstock,assumingexchange of allCommonUnits.

• “Incentive Units”referstothe classofunits of Bumble Holdings created by thereclassificationofthe ClassBUnits in

theReclassification. TheIncentive Units are“profit interests” having economic characteristicssimilartostock

appreciationrightsand having theright to shareinany equity valueofBumbleHoldings above specified participation

thresholds.VestedIncentiveUnits maybeconverted to Common Units andbesubsequently exchangedfor shares of

ClassAcommonstock.

• “Incentive Unitholders”referscollectivelytoour Continuing IncentiveUnitholders andeligible serviceproviders that

receivedIncentiveUnits at thetimeofthe IPOinconnectionwithsuchindividual’semploymentorservice.

• “IPO”referstothe initialpublic offering of ClassAcommon stock, whichwas completedonFebruary16, 2021.

• “Offering Transactions”referstothe offering of ClassAcommonstock in theIPO andcertain relatedtransactions,as

definedin“Item 7―Management’s Discussion andAnalysisofFinancial Conditionand ResultsofOperations―Factors

Affectingthe Comparability of OurResults of Operations―InitialPublic Offering andOffering Transactions”.

• “Official”referstoNewel Corporation, whichoperatesthe Official app.

• “Pre-IPOCommonUnitholders”refer to pre-IPOownersthatholdCommonUnits following theReclassification.

• “Pre-IPOowners” refertoour Founder, our Sponsor,Co-Investor andmanagementand otherequity holders whowere

theownersofBumbleHoldings immediatelyprior to theOffering Transactions.

• “Pre-IPOShareholders”refer to pre-IPOownersthatreceivedsharesofClass Acommonstock of Bumble Inc.pursuant

to theBlocker Restructuring.

• “Principal Stockholders”refer to our Founderand affiliates of Blackstone,collectively.

• “Reclassification” referstothe reclassificationofthe limited partnershipinterests of Bumble Holdings in connection

with theIPO pursuanttowhich certain outstanding ClassAunits were reclassified into anew classoflimited partnership

intereststhatwerefer to as “CommonUnits”and certainoutstanding ClassBUnits were reclassified into anew classof

limitedpartnership intereststhatwerefer to as “Incentive Units.”

• “ReorganizationTransactions”refer to certain transactions that occurredprior to thecompletionofthe IPOwhich were

accounted forasareorganizationofentitiesundercommoncontrol, as furtherdescribed in “Item7―Management’s

Discussion andAnalysisofFinancial Conditionand Results of Operations―FactorsAffectingthe Comparability of Our

Results of Operations―ReorganizationTransactions”.

• “Sponsor Acquisition” referstothe acquisition on January 29, 2020 by our Sponsor of amajoritystake in Worldwide

Vision Limitedand certaintransactions relatedthereto.

• “Total AverageRevenue perPayingUser” or “Total ARPPU” is ametriccalculatedbased on TotalRevenue in any

measurementperioddivided by theTotal Paying Usersinsuchperioddivided by thenumberofmonths in theperiod.

• “Total Paying Users” is thesum of Bumble AppPayingUsers andBadoo Appand OtherPayingUsers.

• “Total Revenue”isthe sumofBumbleApp Revenue andBadoo Appand OtherRevenue.

• “user” is auserID, aunique identifierassignedduringregistration.

RISK FACTOR SUMMARY

An investment in shares of our ClassAcommonstock involvessubstantialrisks anduncertaintiesthatmay materially adverselyaffect

our business, financialconditionand results of operations andcashflows.Someofthe more significantchallengesand risksrelatingto

an investment in our Companyare summarizedbelow.The following is onlyasummary of theprincipal risksthatmay materially

adverselyaffect our business, financialcondition, results of operations andcashflows.The following shouldberead in conjunction

with themorecompletediscussion of theriskfactorsweface, whichare setforth in Part I, “Item1A— Risk Factors” in this Annual

Report.

• If we fail to retain existing usersoradd newusers,orifour usersdecreasetheir levelofengagement with our products

or do not convert to paying users, our revenue, financialresults andbusinessmay be significantly harmed.

• Thedatingindustryishighlycompetitive, with lowswitching costsand aconsistent stream of newproducts and

entrants,and innovationbyour competitors maydisrupt our business.

• Distributionand marketingof, andaccessto, our products depends,insignificantpart, on avariety of third-party

publishers andplatforms.Ifthese thirdparties limit, prohibitorotherwise interfere with or change theterms of the

distribution, useormarketing of our products in anymaterialway,itcouldmaterially adverselyaffect our business,

financialcondition andresults of operations.

• Accesstoour products depends on mobile appstoresand otherthird partiessuchasdatacenterservice providers,aswell

as third-partycloud infrastructureand serviceproviders,payment aggregators, computer systems, internet transit

providers andother communications systemsand serviceproviders,and such third-partiesmay take actions that limit,

prohibitoreliminateour abilitytodistributeorupdate our applications,orincreasethe coststodoso.

• If we arenot able to maintain thevalue andreputationofour brands,our ability to expand our base of usersmay be

impaired,and our businessand financialresults maybeharmed.

• Changestoour existingbrands andproducts,orthe introductionoracquisitionofnew brands or products,couldfailto

attractorretainusers or generate revenue andprofits.

• We operate in various internationalmarkets,including certain marketsinwhich we have limited experience.Asaresult,

we face additionalrisks in connectionwith certainofour internationaloperations.

• We face risksarising fromthe recently announced plan to implement aglobalworkforce reduction andrestructuring of

ouroperations anduncertainty with respect to our ability to achieve strongeroperatingleverageand realizeanticipated

efficiencies associated with such restructuring.

• Security breaches,improperaccesstoordisclosureofour data or user data,other hackingand phishingattacksonour

systems, or othercyber incidentscould compromisethe confidentiality and/or availabilityofsensitiveinformation

relatedtoour businessand/or personaldataprocessedbyusoronour behalf andexposeustoliability,which could

harm our reputationand materially adverselyaffect our business.

• If thesecurity of personaland confidentialorsensitive user informationthatweorsomeofour partners maintain and

storeisbreached, or otherwiseaccessedbyunauthorized persons,itmay be costly to remediatesuchabreach andour

reputationcouldbeharmed.

• We useand intend to furtheruse AI in our business, andchallengeswith properlymanagingits usecouldresultin

reputationalharm, competitive harm,legal liability andother material adverseeffectsonour business, financial

condition andresults of operations.

• We aresubject to anumberofrisks relatedtopayment card transactions,including data security breaches andfraud that

we or thirdparties experience or additionalregulation, anyofwhich couldmaterially adverselyaffect our business,

financialcondition andresults of operations.

• If we areunabletoobtain, maintain,protect andenforce intellectualpropertyrightsand successfully defend against

claims of infringement,misappropriation or otherviolations of third-partyintellectualproperty, it couldmaterially

adverselyimpact our business, financialcondition andresults of operations.

• Ourbusinessissubject to complexand evolving U.S. andinternationallawsand regulations.Manyofthese laws and

regulations aresubject to change anduncertain interpretation, andcouldresultinclaims,changestoour business

practices,monetary penalties, increased cost of operations,ordeclines in user growth or engagement,orotherwise harm

ourbusiness.

• We must comply with rapidlyevolvingprivacy anddataprotectionlawsacrossjurisdictions,and thefailure to do so

couldresultinclaims, changestoour businesspractices,monetary penalties, increasedcostofoperations,ordeclines in

user growth or engagement,orotherwise harm our business.

• Oursubstantialindebtedness couldmateriallyadverselyaffect our financialcondition, our ability to raiseadditional

capitaltofund our operations,our abilitytooperate our business, our ability to reacttochangesinthe economyorour

industry, our ability to meet our obligations underour outstanding indebtedness andcoulddivertour cashflowfrom

operations fordebtpayments.

• OurPrincipal Stockholders controlusand theirinterests mayconflictwith oursoryoursinthe future.

• We area“controlled company” within themeaningofNasdaqrules and, as aresult, we qualifyfor exemptions from

certaincorporategovernance requirements. If we rely on such exemptions in thefuture, youwillnot have thesame

protections afforded to stockholders of companiesthatare subject to such requirements.

• Theoutsizedvotingrightsofour PrincipalStockholders have theeffect of concentratingvotingcontrolwith our

PrincipalStockholders,limitorpreclude your ability to influencecorporatematters andmay have apotentialadverse

effect on theprice of our ClassAcommon stock.

• We areexposed to changesinthe globalmacroeconomic environmentbeyond our control, whichmay adverselyaffect

consumer discretionary spending, demand forour products andservices, our expenses,and our abilitytoexecute

strategicplans.

• Foreigncurrencyexchangeratefluctuations couldmaterially adverselyaffect our resultsofoperations.

TRADEMARKS, SERVICEMARKS AND COPYRIGHTS

We ownorhaverightstotrademarks, servicemarks or tradenames that we useinconnectionwiththe operation of our brands

including, but not limitedto, Bumble,BumbleFor Friends,Badoo, Fruitz andOfficial.Inaddition, our names, logos,website domain

namesand addressesare our servicemarks or trademarks.Other trademarks,service marks, tradenames andcopyrighted materials

appearinginthisAnnualReportare thepropertyoftheir respectiveowners. We do not intend our useordisplay of othercompanies’

trademarks,service marks, tradenames,orcopyrighted materialstoimply arelationshipwith, endorsement or sponsorship of us by,

anyother companies.

Solely forconvenience, certaintrademarks, servicemarks,trade namesand copyrightsreferredtointhisAnnualReportare listed

without the

™

symbols, but such referencesare notintendedtoindicate,inany way, that we will not assert,tothe fullest extent

underapplicable law, our rightsorthe rightsofthe applicable licensors to thesetrademarks, servicemarks,trade namesand

copyrights.

PART I

Item 1. Business

WhoWeAre

Bumble’s missionistocreateaworldwhere allrelationships arehealthyand equitable, through Kind Connections.Our platform

enablespeopletoconnectand build healthyand equitablerelationships on theirown terms. We focusonbuildingauthenticity and

safety in theonlinespace,which is marked at timesbyisolation andtoxicity.Wealsohaveextendedour platform beyond online

datingintohealthyrelationships in otherareas of life, such as friendships.

TheBumblebrand wasbuilt with womenatthe center.Our platform is designedtobesafeand empoweringfor women, and, in turn,

providesabetterenvironmentfor everyone.Weare leveraging innovativetechnology solutions to createamoreinclusive,safeand

accountable waytoconnect onlinefor allusers regardless of gender.

In 2023, we operatedfiveapps, Bumble app, Bumble ForFriends app, Badoo app, Fruitz appand Official app, whereduring2023, on

average, over42million userscameonamonthlybasis to discovernew peopleand connect with each otherinasafe,secure and

empoweringenvironment. Ourappsmonetize viaafreemiummodel, wherethe useofthe serviceisfreeand asubset of theusers pay

forsubscriptions or in-app purchases to accesspremium features.Weare aleader in theonlinedatingspace, whichhas become

increasinglypopular overthe last decadeand hasbeen citedasthe most commonway fornew couples to meet in theUnitedStates.

Bumble app, launchedin2014, is one of thefirst dating apps built with womenatthe center,where womenmakethe firstmove.

Bumble appisaleader in theonlinedatingsector across severalcountries,including theUnitedStates, theUnitedKingdom,Australia

andCanada. We hadapproximately 2.5 millionBumbleApp Paying Usersduringthe year endedDecember31, 2023.

Badoo app, launched in 2006, wasone of thepioneersofweb andmobile free-to-use dating products.Badoo app’sfocus is to make

finding meaningful connections easy, funand accessible foramainstream globalaudience. Badoo appcontinuestobeamarket leader

in Europe andLatin America. Wehad approximately 1.2 millionBadoo Appand OtherPayingUsers duringthe year endedDecember

31, 2023.

In January 2022, we acquiredFruitz,anintentions-drivendatingapp focusedonGen Z, operating in EMEA andCanada. In April

2023, we acquiredOfficial,anapp that is intendedtohelpcouples build healthyand lastinghabitsintheir romantic relationships.

Buildingonthe BFFmode in Bumble app, in July 2023 we officially launchedastandalone Bumble ForFriends app. Bumble For

Friends appisafriendshipapp wherepeopleinall stages of life can meet peoplenearbyand createmeaningful platonicconnections.

Bumble is more than our apps—weare poweringamovement.Our mission-firststrategyensures that values guide our business

decisions andour businessperformance enablesustodrive impact. Ourstrategyisanchored by our powerfulbrand, product

leadership,operationalexcellence, and public policyand social impact initiatives. Examples of how our mission drives our business

include:

• We enhanceour brandthrough initiatives beyond our apps,including advocatingfor policyand legislativesolutions to

prohibitnonconsensual intimate image abuseand otheronlineharms,including unsolicitedlewdphotos.

• We engage in worldwidenonprofit partnerships to supporthealthy, safe,and equitablerelationships,and to furtherour

commitment to equity by supportingwomen andother underrepresentedcommunities.

• We enhanceour brandthrough marketingcampaigns centeredaround elevatingwomen,including the“Believe Women”

and“Love Letters to Black Women” campaigns.

We believethatthe best waytocompete in aworld wherepeoplehavemultiple ways to connect is through productinnovation. We

uniquely design our products to facilitate engagement prioritizingsafetyand accountability across theuserexperience.We

continuously collect user feedback,which informsour productdevelopmentroadmap.The more we know about our community’s

interests, thebetterwecan innovate products that maximize theirchances of making connections most likely to turn into the

relationships they areseeking.

Ourapps sharesomecommoninfrastructure, whichallows insightstobesharedbetween apps andiscritical to providing our users

with personalized andsuperior experiences.Our team hasastrong track record of productleadership in onlinedating. We were the

firstcompany in thedatingapp industrytodevelop technology to proactivelyblurlewdphotos shared within achat, whichweopen-

sourced in 2022 forthe technology community as part of alargereffort to help ridthe internet of “cyberflashing,” thesharing of

unsolicited lewd photos online. We arecontinuously introducingnew artificial intelligence capabilitiestoenhanceour users'

experience andsafety, such as therecently announced Deception Detector,which uses artificial intelligence to help identifyspam,

scam,and fake profiles. In addition, theinsightswehavegainedfromour community have encouraged us to extend Bumble appinto

many more areas of life, such as platonicfriendships andbusinessnetworking, andwehavebuilt our platform with theflexibility to

pursuethese opportunities.

OurTechnology HasTransformed Online Dating

Technology is at thecoreofwhatdifferentiatesour platform.Wehaveaglobalteam of software engineersand productmanagerswho

drivethe developmentofour platform.Wereleaseliveupdatesrapidly,often onceaweek to ourmobile appand twiceadaytoour

server backend, allowing us to rundozensoftests simultaneously across theentireaudience. Therapid nature of our testing

framework allows us to optimizethe user experience.Our technology andproductteamsworkhandinhandfromideationtoproduct

launch, andthishas allowedustobeatthe forefront of releasingfeatures geared towardsimproving thesafetyofour community.

Ourtechnology platform is fueled by:

• Shared infrastructure:Our shared infrastructureallows us to quickly test newfeatures,providesuswithflexibility to

migrate features fromone apptoanother whereappropriate,and improvesexecution at scalebydriving faster

improvementsinour apps,while simultaneously drivingoperatingefficiencies by reducingthe cost of launching new

features.Given our shared infrastructure, we can also innovate andscaleefficiently as we enternew geographies andnew

categoriesoutside onlinedating. Moreover, in seekingtoacquire companies, we look foropportunitiestoleverageour

shared infrastructure(forexample,our contentmoderationcapabilities) to acceleratetheir productroadmap.

• Ourdataand machinelearningcapabilities:Weare continually analyzingdatafromuserinteractions on our platform,

allowing us to constantly optimizethe user experience. We have introduced artificialintelligencecapabilitiesthatwe

leverage to personalizethe potential matcheswedisplay,informour productpipelineand otherwisetailorthe experience

forspecificusers.Our artificial intelligence capabilitiesplayakeyroleincreatingasafe environmentfor our users,

providing protectionagainst identity fraud as well as blocking inappropriate behavior andcontentfrompollutingour

platform.

• Ourdataprotectionand privacystandards:Weare bothcommittedand mandatedtoadhere to strict privacystandards,

such as theGeneral Data ProtectionRegulationinthe European Unionand theUnitedKingdom andseveral statelawsin

theUnitedStates(each as discussedbelow in “—Licensingand Regulation”).

Bumble App

On Bumble app, userscan input informationabout themselves andset up aprofile,which can be customized in many ways,suchasby

adding aBadge to prominentlydisplay certain values or characteristics. We useamatchingalgorithmcombinedwith thepreferences

providedbyusers to recommend potential connections.Users canopt to useone of our filterstobemorespecificinthe typesof

matchestheysee. Ausercan swiperight to vote“yes” to apotentialmatch,orlefttogotothe next profile,or, in most of our markets,

leaveacomplimentonabio, specific photoorprofile prompt on someone’s profile.Whenbothusers voteyes,aconnectionismade.

Afteraninitialmatch is formed,users on Bumble appmustinitiateachatwithin 24 hoursorthe connectiondisappears. In a

heterosexualconnection, womenmakethe firstmove by initiatingachat.

In addition to prioritizing verificationofuserphotos andofferingcommunicationlikevoice andvideo chat toolstoallow interactions

before or in lieuofin-person meetingwithout exchanging sensitivepersonalinformation, we have also engineered othersafety

features such as our proactivesafetymonitoring. This featureusesmachinelearning to identifyharassmentand identity-basedhate,

whichisthenflaggedtomoderators to review andactionappropriately accordingtoour Community Guidelines.

Oursubscriptionofferings,BumbleBoostand Bumble Premium, provide userswith additionalfeatures to increasetheir successin

making ameaningful connection. Themostpopular features in thesubscriptionplans include:UnlimitedRematch,where subscribers

have an unlimitednumberofopportunitiestorematch with priormatches that have alreadyexpiredafter a24-hour period; and

UnlimitedExtends,where subscribershaveanunlimited numberof24-hour extensions on conversations.There arealsoadditional, in-

apppurchases that subscribersand non-subscribingusers can purchase, such as SuperSwipe (toinformpotential matchesthatthe user

is confidentlyinterestedinthem) andSpotlight (toadvancethe user's profile to thetop of thelistofpotentialmatches so it is viewable

by more potentialmatches instantly).In2023, we introduced anew subscription tier, Bumble PremiumPlus. ThePremium Plus tier

offers expandedbenefits, includingbeing able to seewhoseprofile is trending.

BadooApp

On Badoo app, users’ profilescan be customized in many ways,suchasbyusing the“Moods”feature to sharewhat'sontheir minds,

either basedaround theircurrent emotions or what kind of date they want to pursue. Badoo apphas asimilarmatchingalgorithm to

Bumble appand thesamevote“yes” or “no” methodology by swipingright andleft, respectively. It allows usersthe optiontodirectly

message anyone whoisofinterestwithout having to mutually voteyes.

On Badoo app, we have engineered safety features such as Rude Message Detector,which uses machinelearning to detect anytext

that couldbeperceivedasrude,abusive,homophobicordiscriminatoryand givesthe user thecontroltodismiss themessage if they

arenot comfortablewiththe language used.

Oursubscriptionofferings on Badoo app, BadooPremiumand Badoo PremiumPlus, allowadditionalfeaturessuchas: LikedYou,

whichallowsusers to find out whohas alreadyliked them;and InvisibleMode,which allows userstobrowsethe appwithout being

showntoother users. Badoo appalsooffers BadooCredits,which canbepurchased in bundles andusedtoacquire in-app features

such as one-off popularityboosts.

Fruitz App

Fruitz apprequiresall userstoselectaprofile fruit to indicate theirdatingintention: cherries forthoseseekingaserious relationship,

grapes forthoselooking to date,watermelons forthosewho arenot seekinganything serious,and peaches forthoselooking fora

casualrelationship. This simple featurenormalizes thenotionofusers sharingtheir datingintentions fromthe firsttouchpoint with any

user,encouraginghonestyand transparency.Fruitzapp'spremiumsubscription offerings areFruitz Premiumand Fruitz Golden.

Premiumfeaturesinclude:FilterbyFruit, whichenables userstofilter otherusers by theirdatingintention, representedbytheir fruit,

andWho LikedMe, whichallowsusers to seewho hasalready likedthem, among others.

Official App

On Official app, usersconnect theirprofile with that of theirpartner,enablingashared,linkedproductexperience. Theapp is intended

to help couples build healthyand lastinghabits in theirrelationships,with features that promotecommunication, self-reflection,

memory sharing, anddiscovery.Featuresinclude:daily check-ins,quizzes,partner nudges, shared notes,and date idea discovery,

among others.In2023, Official launchedits premiumsubscription offering, whichunlocks expandedcontentacrossfeatures.

Bumble BFFand Bumble Bizz Modes

In addition to dating, in Bumble appwealsoprovide products that enable social connection, offering usersthe opportunity to develop

platonicconnections through theBFF mode forfriendships andthrough theBizzmode forprofessionalnetworkingand mentorship.

TheBFF andBizzmodeshaveaformat similartothe Date mode,requiring userstoset up profiles andmatchingusers through “yes”

and“no” votes,similartothe datingplatform.

Bumble ForFriends App

Bumble ForFriends appworks in asimilarway to theDateand BFFmodesonBumbleapp. When twousers vote“yes” by swiping

right on aprofile,aconnectionismade. Either user can initiate achat. Unlikeinthe BFFmode on Bumble app, on Bumble For

Friends appany user with twoormoreconnections can create agroup chat,and usingthe Plansfeature, userscan easily organize an

in-personmeetup.

HowWeGrowOur Community

We areinvestingingrowing our community by buildingour apps as distinct brands with complementarybut unique user value

propositions.For Bumble app, we educateaudiences on how womenmakingthe firstmove creates healthierrelationships.Badoo app

is about helpingpeopleovercomethe self-doubt they might feel,toopenthemselvesuptoothers, embrace thejourneyofmeeting

peopletofigureout what they want.Fruitz appiscenteredaround encouraginghonestyand transparency by sharingdatingintentions

fromthe firsttouchpoint.Official appisabout helpingcouples build healthyand equitablerelationships by facilitating

communication, connectionand funbetween partners.BumbleFor Friends appisabout recognizing, creatingand celebrating

meaningful localfriendshipand community forpeopleinall stages of life.

Each of our apps hasaspecificbrand andmarketingapproach that is appropriate forits businessmodel, stageofmaturityand local

market nuances.For example, our Bumble appmarketinguseshyperlocal messaging brought to life through large-scalecampaigns

alongsidegrassrootscommunity buildingbased on our core audience's location.

Ourbrands’marketing strategies areespeciallyeffectivedue to ourcentralized performance marketing, partnership, andcreative

functions.These centralized functions enable us to sharemarketing learnings across our apps andgeographies,allowing forthe

broadest applicationofsuccessfulstrategies.

OurImpact

Sincethe founding of Bumble app, we have established, engagedin, andsupportedawide range of public policyand social impact

effortstofurther our mission, primarily focusedonwomen’s empowerment, healthyrelationshipeducation, andthe reduction in

toxicity on our platform andsociety at large. Theseinclude:

• Engaging ExpertstoMakeour Platform Safe:Weleveragebothinternaland external expertstocontinuously improve

upon our policiesand community guidelines.For example, we areamemberofthe Tech Coalition, an industrybody that

shares best practices to combat child sexualexploitation online.

• In-App IntegrationofBumbleInitiatives:The MovesMakingImpact productfeaturewithinBumbleapp allows auserto

select andsupportacause that matters to them andisrelevanttothe Bumble brandand mission, each timethatusersends a

firstmessage.

• PolicyAdvocacyand LegislationEfforts:In2019, we helped pass one of thefirst state-levellawstoaddressthe actof

sending unsolicitedlewdphotos in Texas, andhavesince helped pass similarlegislationinCaliforniaand Virginia.In2021,

we launchedacampaigninthe UK to supportthe enactment of alaw that makesthe unsolicited sending of nude images

illegal,and in October2023 theOnlineSafetyAct waspassed, whichcriminalized cyberflashing.

• Addressing artificial intelligence-enabledharms:Wehaveworkedwith PartnershiponAI(PAI) on developing and

launching PAI’s Responsible Practices forSynthetic Media, whichservesasaguide to devising policies, practices,and

technical interventions that interrupt harmfulusesofgenerativeartificialintelligence.

HumanCapital

Ourcompany cultureand peoplepractices arecritical to achieving our mission of creatingaworldwhere allrelationships arehealthy

andequitable, through Kind Connections,and our values arerooted in growth,kindness,equity,accountability andhonesty.

Diversity &Inclusion

Thediversity of our management team andworkforce is keytoour success andreflectsour mission andvalues. We strongly

encouragepeopleofcolor,lesbian,gay,bisexual, transgender, queer andnon-binary people, veterans,parents,peoplewithdisabilities,

andneurodivergentpeopletoapplytoworkwith us.Weseek to be fully reflectiveofthe communitiesweserve around theworld.As

of December31, 2023, 73% of our Boardand more than 50% of our management team were women. As of December 31, 2023, we

hadapproximately 1,200 full-timeemployees,ofwhich approximately 980 were locatedoutside of theUnitedStates.

We arefocused on buildinganinclusive culture andsustainingadiverseworkforce through avariety of companyinitiatives.Aspart

of that effort,wehaveestablished severalemployeeresource groups (“ERG”s),eachwith amission of bringing our employees

together,collectivelylearning, sharingmeaningful experiences, addressing challenges, providing accesstosupportiveservices and

buildinginclusive communitieswithin Bumble.Atthe center of this initiativeisDiversibees,anintersectional, employee-led

organizationconsistingofapproximately 300 employees.Single-identity affinity groups come together underthe Diversibees

umbrella.Our ERGs sponsor many initiativesthroughout theyear, whichbuild community andadvocacythrough workshops,

newsletters,listening circles, leadership developmentand othertrainingprograms, andculturalcelebrations.

In 2023, we launchedour Diversity,Equity,Inclusion andBelonging strategicframework,which focusesonthree

pillars: harmonization(workingtogether to createaninclusive culture),ensemble(embracing our differences so that we allfeel we

belong),and transcend(expandingour brandtobecome an employerofchoice formarginalized groups in technology).

Othercompany initiativesinclude:continuing to expand theroleofour Diversity, Equity,Inclusion andBelonging Center of

Excellence, providing diversity andinclusion training to allemployees,and continuing our investment in theBumbleTech Academy

graduates, whichencouragesand supports thetransitionoftalentfromunderrepresentedgroups andcommunities to thetechsector.

Talent Acquisition, Development&Retention

We competetoattract andretainhighlytalentedindividuals,particularlypeoplewith expertiseincomputer science, software

engineering, productdevelopment, data scienceand engineeringand machinelearning. Ourabi lity to recruittop talent is driven by our

mission-firstorien tation, meaningful andimpactful work,commitment to employeedevelopment, health andwellbeing andour

brands’reputation.

We invest in developmenttohelpemployees grow andbuild theircareers. We sponsor training, educationand leadership development

opportunities forour employees designedtoprovide them with theknowledge,skillsand habits necessarytosucceed in theirjobs and

careers.In2023, we continuedtorefineour performance evaluationprocesses andcarried out acompany-wide managerdevelopment

program.

To build an organizationwhere employees feel engaged, valued andheard, we gather andrespond to employees’feedback in avariety

of ways,including through periodicemployeeengagementsurveys,new joiner surveys, one-on-one interactions,and regular “All

Hands”meetings that bringthe entirecompany together.Participationinour most recentemployeeengagement survey wasactive,

with approximately seveninten employees completingthe survey.Wemaintainopenlines of communicationtohelpusunderstand

our employees’needssothatwecan continuously improve as an employerofchoice forour current andfutureemployees.

Benefits,Safety&Wellbeing

Thesuccess of our businessisfundamentally connected to thewellbeing of our people. We continue to invest in benefits that help our

employees andtheir families, supportthe Bumble mission, andalign with market practiceacrossfivekey health pillars:physical,

mental,financial,family, andsocial.

We offeracompetitivebenefitspackage,which includesaccesstoprivate healthcare coverage foremployees andtheir families,paid

six-monthleave forparents regardless of gender, path to parenthood support, unlimited paid timeoff, andpaidleave forsurvivorsof

domestic violence or violentcrimes. Allemployees have accesstoawellbeingportal. We also help prepareour employees fora

secure future by investingininitiatives forfinancial andretirementplanning.

Thesafetyofour employees remainsamong our toppriorities. We regularly engage amentalhealth liaison to work with our internal

safety team,hostbenefit sessions on topics of safety,and offertargetedmentalhealthcare resources to our internal safety team

employees,providing an additionallayer of carefor theirwellbeing.

Competition

Theonlinedatingindustryisgrowing andhighlycompetitive. We competewithanumberofcompanies that provide datingproducts

andservicesfor thesamemarkets in whichweoperate,including otheronlinedatingplatforms andsocialmedia platforms. In

addition, we competewithofflinedatingservices,suchasin-person matchmakers, as well as more traditionalforms of datingthat

involve peoplemeetingofflinewithout theuse of datingproducts or services altogether.Because of theextensibility of theBumble

appplatformbeyond dating, we also competewithsocialmedia andnetworkingplatforms in that context.

IntellectualProperty

We believethatour rights in our intellectualproperty, including but not limitedtopatents,designs,copyrights, trademarks anddomain

names, as well as contractualprovisions andrestricti ons on accesstoour proprietary technology, areimportant to our marketing

effortstodevelop brandrecognition anddifferentiate our brandfromour competitors.Weown anumberoftrademarksthathavebeen

registered,orfor whichregistrationapplications arepending, in theU.S.aswellasincertain foreignjurisdictions.These trademarks

include,among others,BUMBLE, BUMBLE FORFRIENDS,BADOO, FRUITZ andOFFICIAL. Thecurrent registrations of these

trademarks areeffectivefor varyingperiods of time andmay be renewedperiodically,providedthatwe, as theregisteredowner,or

our licensees whereapplicable,complywith allapplicable renewalrequirementsincluding, wherenecessary, thecontinueduse of the

trademarks in connectionwithsimilarservices andgoods.Weexpect to pursueadditionaltrademark registrationstothe extent we

believe they wouldbebeneficialand cost-effective.

In addition to trademarkprotection, we ownnumerous domainnames,including www.bumble.com, andpatents anddesigns for

various productfeatures. We also enterinto, andrelyon, confidentiality andproprietary rightsagreementswith our employees,

consultants, contractorsand businesspartnerstoprotect our inventions,trade secrets, proprietary technology andother confidential

information. We furtherprotect theuse of our proprietary technology andintellectualpropertythrough provisions in bothour

customer termsofuse on our website andinour vendor termsand conditions.For informationregarding risksrelated to our

intellectualproperty, pleasesee “Item1A—Risk Factors—RisksRelated to IntellectualProperty.”

Seasonality

We experience seasonality in user growth,userengagement,PayingUsergrowth, andmonetizationonour platform.Historically,we

have seen an increaseinall of thesemetrics in January due in part to seasonaldemandinthe lead up to Valentine’sDay,and during

theNorthernHemisphere summer. Generally, our highest performingmonths forusergrowthand user engagement areduringthe first

andthird quartersofthe fiscal year,and our highest performingmonths forTotal Paying Usersare in thethird andfourth quartersof

thefiscalyear.Seasonaltrends aredifficult to predictaccurately andmay change fromyear to year.

Licensing andRegulation

We aresubject to avariety of laws andregulations in theUnitedStatesand around theworld that involve matters centraltoour

business. Many of theselawsand regulations arestillevolvingand beingtestedincourts,and couldbeinterpreted in ways that could

harm our business. Theselawsmay relate to privacy and data protection, onlinesafety, rightsofpublicity, content, intellectual

property, advertising, marketing, distribution, data security,electroniccontractsand othercommunications,artificialintelligence,

competition, protectionofminors, consumer protection, telecommunications,taxation, economic or othertrade prohibitions or

sanctions,anti-corruptionlaw compliance, securitieslaw compliance,onlinepayment services,and labor andemployment. We

currently,and fromtimetotime,may not be in technical compliancewith allsuchlaws. Foreigndataprotection, privacy,content,

competition, andother laws andregulations canimposedifferent obligations or be more restrictivethanthoseinthe United States.

U.S. federaland stateand foreignlawsand regulations,which in some cases can be enforced by privatepartiesinadditionto

government entities, areconstantly evolving andcan be subject to significantchange.Asaresult,the application, interpretation, and

enforcementofthese laws andregulations areoften uncertain anddifficult to predict, particularly in therapidly evolving industryin

whichweoperate,and maybeinterpreted andappliedinconsistently fromcountry to country andinconsistently with our current

policiesand practices.

Proposed,new andevolvinglegislationand regulations couldalsosignificantlyaffect our business. Forexample,the implications of

theEuropean Union(“EU”)and UnitedKingdom’s GeneralDataProtectionRegulation, whichappliestoour products andservices,

arefar-reachingand constantly evolving. In additiontothese laws,there areanumberoflegislative proposalsinthe EU as well as

otherjurisdictions that couldimposenew obligations or limitations in areasaffectingour business. Thereare otherprivacy anddata

protectionlawsand regulations that impactthe products andservices we offertousers in different countries.Inthe United States,

thereare anumberofexistingstate laws,suchasthoseinCalifornia, Virginia,Colorado, Connecticut,Utahand Illinois, as well as

others that aretocomeintoforce in thecomingyears,inadditiontoapotentialcomprehensive federalprivacy statute. Agencies such

as theFederal TradeCommissio nare increasing theirenforcement effortsand consideringadoptingnew privacyrules.New privacy

laws or regulations arelikelytogrant enhanced privacy rightstoindividuals andimposeobligations on us as abusinessoperatingin

thosejurisdictions.Inaddition, some countries are consideringorhavepassedlegislationrequiring local storageand processing of

data or similar requirementsthatcouldincreasethe cost andcomplexity of delivering our services.For informationregarding risks

relatedtothese compliancerequirements, please see“Item 1A—RiskFactors—RisksRelated to Regulationand Litigation—We must

comply with rapidlyevolvingprivacy anddataprotectionlawsacrossjurisdictions,and thefailure to do so couldresultinclaims,

changestoour businesspractices,monetary penalties,increased cost of operations,ordeclines in user growth or engagement,or

otherwiseharmour business.”

In addition to privacy laws,there areemergingonlinesafetylawsglobally such as theEUDigitalServicesAct,the UK OnlineSafety

Actand U.S. laws targetingcompanies that operate onlinedatingservices that have alreadycomeintoeffect or arecomingintoeffect

in 2024, whichinclude significant penalties fornon-compliance. Thereisals oadeveloping trendfor online safety codestotarget

specificindustriessuchasthe online datingindustry(forexample,inAustralia). Such onlinesafetylawsand codesmay require us,in

thefuture, to change our products,businesspractices or operations,which couldadverselyaffect user growth andengagement and

increase compliancecosts forour business.

Theforegoing descriptiondoesnot include an exhaustive listofthe laws andregulations governingorimpactingour business.See the

discussion containedinthe “RiskFactors”sectionofthisAnnualReportfor informationregarding how actions by regulatory

authoritiesorchangesinlegislationand regulationinthe jurisdictions in whichweoperate mayhaveamaterialadverseeffect on our

business.

Additional Information

Bumble Inc. wasincorporatedinDelawareonOctober5,2020. Ourprincipal executiveoffices arelocated at 1105 West 41stStreet,

Austin,Texas 78756, andour telephone numberis(512) 696-1409.

Ourwebsite addressiswww.bumble.comand our investor relationswebsite is located at https://ir.bumble.com. Theinformation

postedonour website is not incorporated into this AnnualReport. OurAnnualReportonForm10-K, QuarterlyReports on Form 10-

Q, Current Reports on Form 8-Kand amendments to reports filedorfurnished pursuanttoSections 13(a) and15(d) of theSecurities

Exchange Actof1934, as amended, (the “Exchange Act”)are availablefreeofchargeonour investor relations website as soon as

reasonablypracticable afterweelectronically file such material with,orfurnish it to,the U.S. Securitiesand Exchange Commission

(“SEC”).

We webcastour earnings calls andcertain events we participateinorhostwith membersofthe investment community on our investor

relations website. Additionally, we provide notifications of news or announcements regardingour financialperformance, including

SECfilings,investor events,press andearnings releases,aspartofour investor relations website.The contents of thesewebsitesare

not intendedtobeincorporated by reference into this report or in anyother reportordocumentwefile.

Websiteand Social MediaDisclosure

We useour websites(www.bumble.comand ir.bumble.com) andattimesour corporateXaccount (formerly knownasTwitter)

(@bumble) andLinkedIn(www.linkedin.com/company/bumble) to distributecompany information. Theinformationwepostthrough

thesechannels maybedeemedmaterial. Accordingly, investorsshouldmonitorthese channels,inadditiontofollowing our press

releases,SEC filings andpublic conference calls andwebcasts.Inaddition, you mayautomatically receive e-mail alerts andother

informationaboutBumblewhenyou enroll your e-mail addressbyvisitingthe “E-mailAlerts” sectionofour websiteat

ir.bumble.com. Thecontentsofour website andsocialmedia channels arenot,however,apart of this AnnualReport.

Item 1A.RiskFactors

Youshouldcarefully consider thefollowing risksand allofthe otherinformationset forthinthisAnnual Report, including without

limitation“Item 7—Management's Discussion and Analysis of FinancialCondition and Results of Operations”and our consolidated

financialstatementsand relatednotes in “Item8—FinancialStatementsand Supplementary Data.” Thefollowing risk factorshave

been organizedbycategoryfor ease of use; however,many of therisks mayhaveimpacts in more than one category.

RisksRelated to OurBrands,Productsand Operations

If we fail to retain existingusers or add newusers, or if ourusers decrease theirlevel of engagement with ourproductsordonot

converttopayingusers,our revenue,financial resultsand business maybesignificantly harmed.

Thesizeofour user base andour users’ levelofengagement arecritical to our success. Ourapps monetizevia afreemiummodel

wherethe useofour serviceisfreeand asubset of our userspay forsubscriptions or in-app purchases to accesspremiumfeatures. Our

financialperformance hasthus been and will continue to be significantlydetermined by our successinadding, retainingand engaging

usersofour products andconvertingusers into paying subscribersorin-apppurchasers. We expect that thesizeofour user base will

fluctuateordeclineinone or more marketsfromtimetotime, including if usersfindmeaningful relationships on our platformsand no

longerneedtoengage with our products.Furthermore,ifpeopledonot perceive our products to be useful,reliable, and/or trustworthy,

we maynot be able to attract or retain usersorotherwise maintain or increase thefrequencyand durationoftheir engagement.A

numberofother onlinedatingcompanies that achievedearly popularityhavesince experienced slower growth or declines in theiruser

basesorlevelsofengagement.There is no guarantee that we will notexperience asimilarerosion of our user base or engagement

levels.Userengagement canbedifficult to measure, particularly as we introducenew anddifferent products andservices. Any

numberoffactors can negatively affect user retention, growth,and engagement,including if:

• usersincreasinglyengagewith othercompetitive products or services;

• user behavior on anyofour products changes, including decreasesinthe quality of theuserbaseand frequencyofuse of

our products andservices;

• usersfeel that theirexperience is diminished as aresultofthe decisions we make with respect to thefrequency,

prominence,format, size andquality of adsthatwedisplay;

• thereare decreases in user sentiment due to questions about thequality of our user data practices or concerns relatedto

privacy andthe sharingofuserdata;

• thereare decreases in user sentiment due to questions about thequality or usefulness of our products or concerns relatedto

safety,security,well-beingorother factors, including our implementationand useofartificialintelligence;

• usersare no longerwillingtopay (orpay as much)for subscriptions or in-app purchases,including due to changestothe

paymentplatformorpayment methods;

• usershavedifficulty installing, updatingorotherwise accessing our products on mobile devicesasaresult of actions by us

or thirdparties,suchasapplicationmarketplaces anddevicemanufacturers, that we rely on to distributeour products and

deliver our services;

• we fail to introducenew features,products or services that usersfindengaging or if we introducenew products or services,

or make changestoexistingproducts andservices,thatare not favorably received, including artificial intelligence-driven

changes;

• we fail to keep pace with evolving online, market andindustrytrends (including theintroduction of newand enhanced

digitalservices andtechnologies);

• we fail to appeal to andengagethe youngerdemographicofusers (forexample,Gen Z),with theirdifferent dynamicsof

connection;

• initiatives designedtoattract and retain usersand engagement areunsuccessful or discontinued, whetherasaresult of

actions by us,third partiesorotherwise;

• thereisadecreaseinuserretentionasaresult of usersfinding meaningful relationships on our platformsand no longer

needingtoengage with our products;

• third-partyinitiativesthatmay enable greater useofour products,including low-cost or discounted data plans, are

discontinued;

• we adopt terms, policiesorprocedures relatedtoareas such as user data or advertisingthatare perceivednegativelybyour

usersorthe generalpublic;

• we fail to combat inappropriate or abusiveactivity on our platform;

• users, particularly women, do not perceive our products as beingsafer than othercompetitiveproducts or services;

• we fail to provide adequate customer servicetousers,marketers or otherpartners;

• we fail to protect our brandimage or reputation;

• we,our partners or companiesinour industryare thesubject of adversemedia reports or othernegativepublicity,including

as aresultofour or theiruserdatapractices;

• technical or otherproblemsprevent us fromdeliveringour products in arapid andreliablemannerorotherwise affect the

user experience, such as security breaches,distributed denial-of-serviceattacksorfailure to preventorlimit spam or similar

content;

• thereisdecreased engagement with our products as aresultofinternetshutdowns or otheractions by governmentsthat

affect theaccessibility of our products in anyofour markets;

• thereisdecreased engagement with our products ,orfailure to acceptour termsofservice,aspartofchangesthatwehave

implemented,ormay implement,inthe future in connectionwithregulations,regulatoryactions or otherwise;

• thereisdecreased engagement due to theexpansion of one of our apps into newmarkets whichcannibalizes anyofour

otherapps that historically operatedinsuchmarkets;

• thereisdecreased engagement with our products as aresultofchangesinprevailingsocial, culturalorpolitical preferences

in themarkets whereweoperate;or

• thereare changesmandatedbylegislation, regulatoryauthoritiesorlitigationthatadverselyaffect our products or users.

From timetotime,certain of thesefactorshavenegativelyaffected user retention, growth,and engagement to varyingdegrees.See

“—Accesstoour products dependsonmobile appstoresand otherthird partiessuchasdatacenterservice providers,aswellasthird-

partycloud infrastructureand serviceproviders,payment aggregators, computer systems, internet transitproviders andother

communications systemsand serviceproviders,and such third-partiesmay take actions that limit,prohibitoreliminateour ability to

distributeorupdate our applications,orincreasethe coststodoso.” If we areunabletomaintainorincreaseour user base anduser

engagement,our revenue andfinancial resultsmay be materially adverselyaffected.Inaddition, we maynot experience rapiduser

growth or engagement in countries where, even though mobile device penetrationishigh, due to thelack of sufficientcellularbased

data networks,consumersrelyheavily on Wi-Fiand maynot accessour products regularly throughout theday.Any decrease in user

retention, growth or engagement couldrenderour products less attractivetousers,which is likelytohaveamaterialadverseimpact on

our revenue,business, financialconditionand results of operations.Ifour user growth rate slowsordeclines,wewillbecome

increasinglydependent on our ability to maintain or increase levels of user engagement andmonetizationinorder to driverevenue

growth.

Thedatingindustryishighlycompetitive, with lowswitching costsand aconsistentstreamofnew productsand entrants,and

innovationbyour competitors maydisrupt ourbusiness.

Thedatingindustryishighlycompetitive, with aconsistentstream of newproducts andentrants. Some of our competitors mayenjoy

bettercompetitivepositions in certaingeographical regions,userdemographics or otherkey areasthatwecurrently serveormay serve

in thefuture. Theseadvantagescouldenablethese competitors to offerproducts that aremoreappealingtousers andpotentialusers

than our products,ortorespond more quickly and/or cost-effectively than us to neworchanging opportunities.

In addition, within thedatingindustrygenerally,costs forconsumerstoswitchbetween products arelow,and cons umershavea

propensity to trynew approaches to connectingwith peopleand to usemultiple dating products at thesametime.Asaresult,new

products,entrantsand business models arelik elytocontinue to emerge.Itispossiblethatanewproductcouldgainrapid scaleatthe

expenseofexistingbrandsthrough harnessing anew technology (suchasartificialintelligence), or anew or existingdistribution

channel, creatinganewordifferent approach to connectingpeopleorsomeother means.

Potentialcompetitors include larger companiesthatcoulddevotegreater resources to thepromotionormarketingoftheir products and

services,tak eadvantageofacquisitionorother opportunitiesmorereadily or developand expand theirproducts andservicesmore

quickly than we do. Potentialcompetitorsalsoinclude establishedsocialmedia companiesthatmay developproducts,features,or

services that maycompete with oursoroperators of mobile operating systemsand appstores. Forexample,Facebook hasintroduced a

datingfea ture on its platform,which it hasrolledout in NorthAmerica, Europe andother marketsaround theglobe.These social

mediaand mobile platform competitors coulduse strong or dominantpositions in one or more markets, andready accesstoexisting

largepoolsofpotentialusers andpersonalinformation regardingthoseusers,togaincompetitiveadvantages overus. Thesemay

include offering different productfeatures,servicesorpricing models that usersmay prefer or offering theirproducts andservices to

usersatnocharge, whichmay enable them to acquire andengage usersatthe expenseofour user growth or engagement.

If we arenot able to competeeffectivelyagainst our current or future competitors andproducts that mayemerge, thesizeand levelof

engagement of our user base maydecrease, whichcouldmateriallyadverselyaffect our business, financialconditionand resultsof

operations.

Distributionand marketingof, andaccessto, ourproductsdepends,insignificant part, on avariety of third-party publishers and

platforms. If thesethird partieslimit, prohibit or otherwiseinterfere with or change theterms of thedistribution, useormarketing

of ourproductsinany material way, it couldmateriallyadversely affect ourbusiness, financialconditionand resultsofoperations.

We market anddistributeour products (including relatedmobile applications)through avariety of third-partypublishers and

distributionchannels.Our ability to market our brands on anygiven propertyorchannelissubject to thepoliciesofthe relevant third

party. Thereisnoguarantee that popular mobile platformswillcontinue to featureour products,orthatmobile device userswill

continue to useour products rather than competingproducts.Weare dependent on theinteroperability of our products with popular

mobile operatingsystems,networks, technologies,products,and standardsthatwedonot control, such as theAndroidand iOS

operating systems. Anychanges,bugs,ortechnical issues in such systems, or changesinour relationships with mobile operating

system partners,handset manufacturers, or mobile carriers, or in theirterms of serviceorpoliciesthatdegrade our products’

functionality,reduceoreliminateour abilitytoupdate or distributeour products,givepreferentialtreatment to competitiveproducts,

limit our abilitytodeliver,target, or measurethe effectivenessofads,orchargefees relatedtothe distributionofour products or our

deliveryofads couldmateriallyadverselyaffect theusage of our products on mobile devices.

Some of thethird-party publishers anddistributionchannels through whichwemarketand distributeour products have rolledout or

mayinthe future roll out theirown datingproducts,suchasFacebook. If thesethird-party publishers anddistributionchannels limit

our ability to reach theirusers,our business, financialconditionand resultsofoperations maybematerially adverselyaffected.

We also rely on largetechplatforms such asGooglefor targeted advertisementand performance marketing. In 2022, Google

announced amulti-year initiativewith thegoalofstrengthening privacy on Android, whichmay include theabolishmentof

AdvertisingIDs (Google'sunique user IDsfor advertising) an dlimitations on sharinguserdatawiththird parties. Thereare also,and

mayinthe future be,legislative initiativessuchasthe European Union’sDigital MarketsAct that require gatekeeper platformssuchas

Googletoobtainvalid user consentbeforecollectingand usingpersonaldatafor targeted advertising. In theevent that our abilityto

accurately target,track andmeasureour advertisingcampaigns at theuserlevel becomesmorelimiteddue to such regulatorychanges

or largetech platforms’ policychanges,orweare no longerabletoconducttargetedadvertisementand performance marketing

through such platformsbecause of increasedcosts of advertisingonthese platforms, or we choosenot to conducttargeted

advertisementand performance marketingthrough such platformsdue to,for example, brandsafetyconcerns,our user acquisitionand

revenue stream maybemateriallyadversely affected.

Certainpublishers andchannels have,fromtimetotime,limitedorprohibitedadvertisements fordatingproducts foravarietyof

reasons,including as aresultofpoor behavior by otherindustryparticipants. Thereisnoassurancethatwewillnot be limitedor

prohibitedfromusing certain current or prospectivemarketing channels in thefuture. If this were to happeninthe caseofasignificant

marketingchanneland/or forasignificant period of time, our business, financialconditionand resultsofoperations couldbe

materially adverselyaffected.

Finally, many usershistorically registered for(andloggedinto) our applications through theirFacebook profilesortheir AppleIDs.

While we have othermethods that allowusers to register for(andlog into)our products,noassurances can be providedthatusers will

usethese othermethods.Facebook, Appleand otherplatforms such as Googlehavebroad discretion to change theirterms and

conditions in ways that couldlimit, eliminateorotherwise interferewithour abilitytouse them as aregistrationmethod or to allow

them to usesuchdatatogainacompetitiveadvantage.Suchchangesinterms andconditions couldmaterially adverselyaffect our

business, financialconditionand results of operations.Additionally,ifsecurity on anyofthese platformsiscompromised,ifour users

arelockedout fromtheir accounts on anyofthese platforms, or if anyofthese platformsexperiences an outage, our usersmay be

unabletoaccessour products.Asaresult, user growth andengagement on ourservice couldbemateriallyadverselyaffected,evenif

foratemporaryperiod.

Accesstoour productsdepends on mobile app stores andother thirdpartiessuchasdatacenterservice providers, as well as third-

party cloudinfrastructureand serviceproviders,payment aggregators, computer systems, internet transitproviders andother

communications systemsand serviceproviders, andsuchthird-parties maytake actionsthatlimit,prohibitoreliminateour ability

to distribute or updateour applications,orincreasethe coststodoso.

Ourproducts depend on mobile appstoresand otherthird partiessuchasdatacenterservice providers,aswellasthird-party cloud

infrastructureand serviceproviders,payment aggregators, computer systems, internet transitproviders andother communications

systemsand serviceproviders.Our mobile applications arealmost exclusivelyaccessed through anddependonthe AppleApp Store

andthe GooglePlayStore.While our mobile applications aregenerally free to downloadfromthese stores,weofferour usersthe

opportunity to purchasesubscriptions andcertain àlacarte features through theseapplications.Wedeterminethe prices at whichthese

subscriptions andfeaturesare sold,subject to approvalbyAppleorGoogle, as relevant.Purchases of thesesubscriptions andfeatures

viaour mobile applications aremainlyprocessedthrough thein-apppayment systemsprovidedbyAppleand Google. We payApple

andGoogle,asapplicable,ameaningful share(up to 30%)ofthe revenue we receive fromtransactions processedthrough in-app

paymentsystems (Googlereduced its in-app purchasefees forsubscriptionpaymentsto15% as of January 1, 2022).Ifthe AppleApp

Storeorthe GooglePlayStore were to experience an outage, or if either decidedtoexitamarket,manyofour usersmay be unableto

access our apps,which couldmateriallyadversely affect our business, financialcondition andresults of operations.

Furthermore, bothAppleand Googlehavebroad discretiontomakechangestotheir operating systemsorpayment services or change

themannerinwhich theirmobile operatingsystems functionand theirrespectiveterms andconditions applicable to thedistributionof

our applications,including theamount of,and requirementtopay,certain fees associated with purchases requiredtobefacilitatedby

Appleand Googlethrough our applications,and to interprettheir respectiveterms andconditions in ways that maylimit, eliminateor

otherwiseinterfere with our products,our ability to distributeour applications through theirstores, our ability to update our

applications,including to make bug fixesorother featureupdatesorupgrades,the features we provide,the mannerinwhich we

market our in-app products,our ability to access nativefunctionality or otheraspects of mobile devices,and our ability to access

informationaboutour usersthattheycollect.Tothe extent either or bothofthemdoso, our business, financialconditionand results of

operations couldbematerially adverselyaffected.For example, pursuanttoGoogle’spolicywhereby onlyGooglePlay’sin-app

billingsystemcouldbeusedfor transactions in itsstore,weweremandatedtostopthe provision of non-native paymentoptions to our

usersonAndroidduring2021, whichcauseddisruptions forusers andled to adeclineinPayingUsers.Since announcingthispolicy

in 2020, followingindustrypushback andcountry-specificregulations Googlehas introduced in select marketsthe optionof“user

choice billing,” whichallows eligible developers to offerusers an additionalbillingsystemalongsideGooglePlay’sbillingsystem,

andinthe European Economic Area theoptionfor eligible developers to offerusers an alternativetoGooglePlay’sbillingsystem. We

areactivelyexploringsuchsolutions on acountry-by-country basis. However, as thesesolutions areintheir infancy, they mayevolve

following subsequent regulatorymandatesororganically at Google’sbehest, andassuchwewillneed to be readytocontinuously

adapttosuchchanges. Anydeadlines imposed on developers by future iterations of Google’spolicywill require prompt andactive

development, andfailure to do so mayresultinthe discontinuationofthe provision of alternativebillingmethods to our users.

Similarly,Appleisexperiencing industrypushback andcountry-specificregulations.Inresponsetoarecent antitrust lawsuit, Apple

now allows alldigitalapps in theUnitedStatestoinclude alinktothe developer’s websitetoprocesspaymentsfor in-app purchases.

Additionally, in theEU, pursuanttothe DigitalMarkets Act, allmajor appstore operators such as Googleand Applewill be forced to

introducemorecountry-specificbillingpoliciesthatallowdevelopers to offeralternativebillingmethods,and it is expected that other

marketsmay followsuit. Shouldwechoosetoexploresuchpolicyinitiativesfor thebenefit of our businessand our users, we may

potentially become subject to highlynuanced,country-specificbillingpoliciesand commissions of majorapp storeoperators,wemay

need to devotemoreresourcesand time in creatingand managing separate appbundles foreachcountry in whichwewanttooffer

alternativebillingoptions,which couldbecome burdensome, and/or we couldbecomesubject to highercommissions overall.

Furthermore, changestobillingoptions maycause adisruptiontothe user journey, whichcouldcause adecreaseinpayinguser

conversionrates.Alternatively, choosingnot to exploresuchpolicyinitiatives couldpresent ariskofmissedopportunity.Any of the

foregoing couldmateriallyadverselyaffect our business, financialconditionand results of operations.

If we arenot abletomaintainthe valueand reputation of ourbrands, ourability to expandour baseofusers maybeimpaired, and

ourbus inessand financialresults maybeharmed.

We believethatour brands have significantly contributed to thesuccess of our business. We also believe that maintaining, protecting

andenhancingour brands is critical to expanding our base of usersand, if we fail to do so,our business, financialconditionand results

of operations couldbemateriallyadverselyaffected.Webelieve that theimportanceofbrand recognitionwillcontinue to increase,

giventhe growingnumberofonlinedatingand social connectionsites andapplications,or“apps,” andthe lowbarrierstoentry for

companiesoffering onlinedating, social connectionand othertypesofpersonalservices. Many of our newusers arereferredby

existingusers.Maintaining our brands will depend largelyonour ability to continue to provide useful,reliable, trustworthyand

innovative products,which we maynot do successfully.

Further, we mayexperience media, legislat ive, or regulatoryscrutinyofour actions or decisions regardinguserprivacy,encryption,

content, advertisingand otherissues,which maymaterially adverselyaffect our reputationand brands.Inaddition, we mayfailto

respond expeditiously or appropriately to objectionablepractices by users, or to otherwiseaddressuserconcerns,which coulderode

confidence in our brands.Maintaining andenhancingour brands will require us to make substantialinvestmentsand theseinvestments

maynot be successful.

Changestoour existingbrandsand products, or theintroductionoracquisition of newbrandsorproducts, couldfailtoattract or

retain usersorgeneraterevenue andprofits.

Ourabilitytoretain, increase,and engage our user base andtoincreaseour revenue depends heavily on our ability to continue to

evolve our existingbrands andproducts andtocreatesuccessful newbrands andproducts,bothindependently andinconjunction with

developers or otherthird parties. We mayintroducesignificantchangestoour existing brands andproducts,oracquire or introduce

newand unprovenbrands, products andproductextensions,including usingtechnologies with whichwehavelittle or no prior

developmentoroperating experience.Wehavealsoinvested,and expect to continue to invest,significant resources in growingour

products to supportincreasingusage as well as newlines of business, newproducts,new productextensions andother initiatives to

generate revenue.There is no guarantee that investinginnew lines of business, newproducts,new productextensions andother

initiatives will succeed.Ifour neworenhancedbrands,products or productextensions fail to engage users, marketers, or developers,

or if our businessplans areunsuccess ful, we mayfailtoattract or retain usersortogeneratesufficientrevenue,operating margin,or

othervalue to justifyour investments, andour businessmay be materially adverselyaffected.

We mayalsointroducenew products,featuresorterms of serviceorpolicies, andseektofindnew,effectivewaystoshow our

community newand existingproducts andalert them to events andmeaningful opportunitiestoconnect,thatusers do not like,which

maynegativelyaffectour brands.New products mayprovide temporaryincreases in engagement that mayultimately fail to attract and

retain userssuchthattheymay not producethe long-term benefits that we expect.

We operate in variousinternational markets, includingcertain marketsinwhich we have limited experience. As aresult, we face

additional risksinconnectionwith certain of ourinternationaloperations.

Ourapps areavailable in many different languages, alloverthe world. Operatinginternationally, particularly in countries in whichwe

have limitedexperience, exposes us to anumberofadditionalrisks,including:

• operationaland compliancechallengescausedbydistance, language andculturaldifferences;

• difficultiesinstaffing andmanaginginternationaloperations;

• differing levels of social andtechnological acceptance of our products or lack of acceptance of them generally;

• foreigncurrencyfluctuations;

• restrictions on thetransferoffunds among countries andback to theUnitedStates, as well as costsassociated with

repatriatingfunds to theUnitedStates;

• differing andpotentially adversetax laws;

• multiple,conflictingand changing laws,rules andregulations (including thoseintendedtostrengthenagovernment's

controloverthe internet andtoreduceits dependenceonforeign companiesand countries), anddifficultiesunderstanding

andensuringcompliancewiththoselawsbybothour employees andour businesspartners, overwhom we exertnocontrol;

• compliance challengesdue to different laws andregulatoryenvironments,particularlyinthe caseofintellectualproperty,

privacy,datasecurity,intermediaryliability,and consumer protection;

• actions by governmentsorotherstorestrictaccess to or censorcontentonour platform,whether theseactions aretaken for

political reasons,inresponsetodecisions we make regardinggovernmentalrequestsorcontentgenerated by our users, or

otherwise;

• competitiveenvironments that favor local businesses;

• increasedcompetitionfromlargely regionalwebsites, mobile applications andservicesthatprovide real-time

communications andhavestrong positions in particular countries,which have expandedand maycontinue to expand their

geographicfootprint;

• limitations on thelevel of intellectualpropertyprotection;

• lowusage and/or penetrationofinternet-connected consumer electronicdevices or awidediversity of device capabilities

andoperating systems(forexample,somecountries mayhaveahighpenetrationofolder phonesrunning on olderversions

of operating systemsthatare not adequately supportedbyour updatedsoftware);

• geopolitical tension(such as thewarsinUkraine andIsrael) or social unrestand economic instability,particularly in

countries in whichweoperate;

• tradesanctions such as thoseadministeredbythe U.S. Office of ForeignAssets Control, that restrict our dealings with

certain sanctionedcountries,territories,individuals andentities; theselawsand regulations arecomplex,frequently

changing, andincreasinginnumber, andmay imposeadditionalprohibitions or compliance obligations on our dealings in

certain countries andterritories;

• political unrest, terrorism,war,health andsafetyepidemics (suchasCOVID-19) or thethreat of anyofthese events;

• advisories by theU.S.orother governmentsregarding usageofour apps in othercountries;

• breaches or violationofany anti-corruptionlaws, rulesorregulations applicable to our business, including but not limited

to theForeign Corrupt Practices Actof1977, as amended; and

• anyfailure to comply with anydemandbyenforcementauthoritiestoaccessour user data,which couldlead to our inability

to operate in such country or otherpunitiveacts.

Theoccurrenceorimpactofany or allofthe events describedabove couldmaterially adverselyaffect our internationaloperations,

whichcouldinturnmateriallyadversely affect our business, financialcondition andresults of operations.

Ourgrowthand profitability rely,inpart, on ourability to attractand retain usersthrough cost-effectivemarketingefforts,

includingthrough oursocialmedia presence anduse of sponsorships,brand ambassadors, spokespersons andsocialmedia

influencers. Anyfailure in theseeffortscould materially adversely affect ourbusiness, financialcondition andresults of

operations.

Attractingand retainingusers forour products involve considerable expendituresfor onlineand offlinemarketing. Historically,we

have hadtoincreaseour marketingexpendituresovertime in ordertoattractand retain usersand sustainour growth.Evolving

consumer behavior can affect theavailability of profitable marketingopportunities.For example, as consumerscommunicatemore via

messaging apps andoth er virtualmeans, to continue to reach potential usersand grow our businesses, we must identify anddevote

more of our overall marketingexpenditurestonewer advertisingchannels,suchasmobile andonlinevideo platformsaswellas

targeted campaigns in whichwecommunicate directly with potential,formerand current usersvia newvirtual means. Generall y, the

opportunities in andsophisticationofnewer advertisingchanne ls arerelativelyundevelopedand unproven, andthere can be no

assurancethatwewill be able to continue to appropriately manage andfine-tune our marketingeffortsinresponsetothese andother

trends in theadvertisingindustry. Anyfailure to do so couldmaterially adverselyaffect our business, financialconditionand resultsof

operations.

In addition, fromtime to time,weuse thesuccessstories of our users, andutilizesponsorships, Bumble appbrand ambassadors,

spokespersons andsocialmedia influencers, including in some cases celebrities, in our advertisingand marketingprogramsto

communicateonapersonallevel with consumers. If theseindividuals act in away that is contrary to our women-firstmission or that

harmstheir personalreputationorimage,oriftheystopusing our services andproducts,itcouldhaveanadverseimpactonthe

advertisingand marketingcampaigns in whichtheyare featured andonour brand. We andour brandambassadors, spokespersons and

social mediainfluencersalsouse social mediachannelsasameansofcommunicatingwith consumers. Unauthorized or inappropriate

useofthese channels couldresultinharmful publicity or negative consumer experiences,which couldhaveanadverseimpactonthe

effectivenessofour marketinginthese channels.Inaddition, substantialnegativ ecommentarybyothersonsocialmedia platforms

couldhaveanadverseimpactonour reputationand abilitytoattractand retain users. If our advertisingand marketingcampaigns do

not generate asufficientnumberofusers,our business, financialconditionand results of operations will be materially adversely

affected.

We aresubject to certainrisks as amission-based company.

Themission of Bumble appisasignificantpartofour businessstrategyand whoweare as acompany. We believethatBumbleapp

usersvalue our commitment to our mission. However, because we holdourselves to such high standards, andbecause we believe our

usershavecometohavehighexpectations of us,wemay be more severely affected by negativereports or publicity if we fail,orare

perceivedtohavefailed, to liveuptoBumbleapp’smission. Forexample,providing asafeonlinecommunity forusers to build new

relationships andtoempower womeniscentral to Bumble app’smission. As aresult, our brands andreputationmay be negatively

affected by theactions of usersthatare deemed to be hostileorinappropriate to otherusers or disempoweringtowomen or by the

actions of usersactingunderfalse or inauthentic identities. Similarly, anynegativepublicity about activity in thebusinessthatis

perceivedtobedisempoweringtowomen wouldnegativelyaffect our brands andreputation. If anyofour employees were to engage

in or be accusedofmisconduct, or if we were to fail to properlyaddressmisconduct, particularly behavior or actions that are

inconsistent with our mission-driven culture,wecould be exposed to regulatoryscrutinyorlegal liability,and our businessand

reputationcouldbemateriallyadversely affected.The damage to our reputationmay be greaterthanother companiesthatdonot have

similar values as us,and it maytakeuslongertorecoverfromsuchanincidentand gain back thetrust of our users.

In addition, we maymakedecisions regardingour businessand products in accordance with Bumble app’smission andvaluesthat

mayreduceour short- or medium-termoperatingresults if we believe thosedecisions areconsistent with themission andwill improve

theaggregateuserexperience. Although we expect that our commitment to Bumble app’smission will, accordingly, improveour

financialperformance overthe long term,these decisions maynot be consistent with theexpectations of investorsand anylonger-term

benefits maynot materializewithinthe time frame we expect or at all, whichcouldharmour business, revenue andfinancial results.

Finally, we have in thepastand mayinthe future be subjected to litigationbythosethatdisagreewith aspectsofBumbleapp’s

mission or features of our platform that we have developedinsupportofour mission.

Ourfuturesuccessdepends on thecontinuingeffortsofour keyemployees andour ability to attractand retain highly skilled

personneland senior management.

We currently depend on thecontinuedservicesand performance of our keypersonnel, including Whitney WolfeHerd, our Executive

Chair, andLidiane Jones, our ChiefExecutiveOfficer. If one or more of our executiveofficers or keyemployees were unableor

unwilling to continue theiremploymentwith us,wemight not be able to replace them easily,inatimely manner, or at all. Therisk

that competitors or othercompanies maypoach our talent increases as we continue to build our brands andbecomemorewell-known.

Ourkey personnelhavebeen,and maycontinue to be,subjecttopoachingeffortsbyour competitorsand otherinternetcompanies,

including well-capitalized playersinthe social mediaand consumer internet space. Thelossofkey personnel, including membersof

management as well as keyengi neering, productdevelopment, andmarketing personnel, coulddisrupt ouroperations andhavea

material adverseeffect on our business.

Ourfuturesuccesswill depend upon our continuedabilitytoidentify, hire,develop, motivateand retain highlyskilledindividuals

acrossthe globe,withthe continuedcontributions of our senior management beingespecially critical to our success.There is strong

competitionfor well-qualified, highlyskilledemployees,and from timetotime we maynot be able to fill positions in desired

geographicareas or at all, or mayexperienceincreased labor costsinorder to do so.While we have establishedprogramstoattract

newemployees andprovide incentives to retain existingemployees,particularly our senior management,wecannot guarantee that we

will be able to attract newemployees or retain theservices of our senior management or anyother keyemployees in thefuture. As we

continue to mature,the incentivestoattract,retain, andmotivateemployees providedbyour equity awards or by future arrangements

maynot be as effectiveasinthe past,and if we issuesignificantequity to attract additionalemployees or to retain our existing

employees,wewouldincur substantialadditionalshare-based compensation expenseand taxexpenseand theownership of our

existingstockholders wouldbefurther diluted. Proposed andfinal stateand federallaws, rulesand regulations intendedtolimit or

curtailthe enforceability of non-competition, employeenon-solicitation, confidentiality andsimilar restrictivecovenant clausescould

make it more difficu lt to retain qualifiedpersonnel. Further, our ability to attract, retain,and motivateemployees mayalsobe

adverselyaffected by stockprice volatility.Inparticular, declines in our stockprice,orlower stockprice performance relativeto

competitors have been reducingthe retentionvalue of our share-basedawards, whichcan impact thecompetitiveness of our

compensation.

Additionally, we believe that our cultureand core values have been,and will continue to be,akeycontributor to our successand our

ability to foster theinnovation, creativity andteamwork we believe we need to supportour operations.Ifwefailtoeffectivelymanage

our hiring needsand successfully integrateour newhires,orifwefailtoeffectivelymanageremoteworkarrangements, our efficiency

andabilitytomeetour forecastsand our ability to maintain our culture, employeemorale, productivity andretentioncouldsuffer, and

our business, financialconditionand results of operations couldbematerially adverselyaffected.

Finally, effectivesuccessionplanning is also important to our future success. If we fail to ensure theeffectivetransferofsenior

management knowledge andsmoothtransitions involving senior management acrossour various businesses, our ability to execute

shortand long term strategic, financialand operating goals,aswellasour business, financialconditionand results of operations

generally, couldbemateriallyadversely affected.

Seealso“—Weface risksarising fromthe recentlyannounced plan to implement aglobalworkforce reductionand restructuring of

our operations anduncertainty with respect to our ability to achieve strongeroperatingleverageand realizeanticipated efficiencies

associated with such restructuring.”

We face risksarising from therecentlyannounced plan to implement aglobal workforcereductionand restructuringofour

operations anduncertainty with respect to ourability to achieve stronger operatingleverage andrealize anticipated efficiencies

associated with such restructuring.

On February 27, 2024, we announced our intentiontoreducethe Company’sglobalworkforce to better alignour operating model

with future strategicprioritiesand to drivestrongeroperatingleverage. Future chargesrelated to such actions mayharmour

profitability in theperiods incurred.

Theserestructuring actions,which include areductioninworkforce andredesigns of our operatingmodeland core processes, may

presentanumberofsignificantrisks that couldhaveamaterial adverseeffect on our business, financialcondition, or resultsof

operations,including:

• incurrenceofadditionalcosts in theshort-term,including workforcereductioncosts or third-partyresources,orin

different periods than anticipated;

• actualorperceiveddisruptionofservice or reductioninservice levels to users;

• potential adverseeffectsonour internal controlenvironmentand inability to preserve adequate internal controls;

• actualorperceiveddisruptiontoservice providers andother important operationalrelationships andthe inability to

resolvepoten tialconflicts in atimelymanner;

• distractiontoemployees andmanagementand diversionofmanagementattentionfromongoing businessactivitiesand

strategicobjectives;

• failure to maintain employee morale andretainkey employees,damagetocompany cultureand an increase in

employmentclaims; and

• damage to our brandand reputationasanemployer, whichcouldmakeitmoredifficult forustohirenew employees in

thefuture.

Because of theseand otherfactors,someofwhich maynot be entirely within our control, we maynot fully realizethe purposeand

anticipated operationalbenefits,efficiencies or cost savings of anyproductivity actions in theexpected timelines,oratall,and, if we

do not,our business, financialcondition, andresults of operationsmay be adverselyaffected.

Inappropriate actions by certainofour userscould be attributed to us anddamage ourbrands’ reputations,which in turn could

materially adversely affect ourbusiness.

Usersofour products have been,and mayinthe future be,physically,financially,emotionally or otherwiseharmedbyother

individuals that such usershavemet or maymeetthrough theuse of one of our products.Whenone or more of our userssuffers or

allegestohavesufferedany such harm either on our platform or in person aftermeetingonour products,wehaveinthe past,and

couldinthe future,experience negative publicityorlegal actionthatcoulddamageour brands andour brands’reputation. Similar

events affectingusers of our competitors’products have resulted in thepast, andcouldresultinthe future,innegativepublicityfor the

datingindustrygenerally,which couldinturnnegativelyaffect ourbusiness, particularly if such objectionableeventsare widely

reported.

In addition, thereputations of our brands maybematerially adverselyaffected by theactions of ourusers that aredeemed to be

hostile,offensive,defamatory, inappropriate or unlawful. Furthermore, usershaveinthe past andmay in thefutureuse our products

forillegal or harmfulpurposes rather than fortheir intended purposes,suchasromance scams, promotionoffalse or inaccurate

information, financialfraud, drug trafficking, sex-trafficking, andrecruitment to terrorist groups.While we have systemsand

processesinplace that aimtomonitorand review theappropriateness of thecontentaccessiblethrough our products,which include,in

particular,reportingtoolsthrough whichusers can inform us of such behavior on theplatform, andhaveadopted policiesregarding

illegal,offensive or inappropriate useofour products,our usershaveinthe past,and couldinthe future,nonetheless engage in

activitiesthatviolate our policies, and/or thesystems andprocessesthatwehaveinplace to monitorand review theappropriateness of

contentmay fail. Additionally,while our policiesattempt to addressillegal,offensiveorinappropriate useofour products,wecannot

controlhow our usersengage if andwhentheymeetinpersonafter meetingonour products.These safeguardsmay not be sufficient

to avoidharmtoour reputation andbrands, especially if such hostile, offensiveorinappropriate useiswell-publicized.Furthermore,

to theextentthatour users, particularly women, do not feel safe usingour products,our reputationand Bumble app's“women-first”

brandwouldbenegativelyaffected, whichmay in turn materially adverselyaffect our business, financialconditionand resultsof

operations.

Spam andfake accountscould diminish theexperience on ourplatform, whichcould damage ourreputationand deterpeople

from usingour productsand services.

Ourterms andconditions of useprohibit“spam”content,which refers to arange of abusiv eactivitiesthatisgenerally definedas

unsolicited,repeated actions that negativelyimpact otherpeoplewith thegeneral goalofdrawing attentiontoagivenaccount,site,

productoridea. In addition, our termsand conditions of useprohibitthe creationoffakeaccounts. Although we continue to invest

resources to reducespamand fake accountsonour platform,weexpect that spammers will continue to seek ways to act

inappropriately on our platform.Moreover, we expect that increasesinthe numberofaccountsonour platform will result in increased

effortsbyspammers to misuseour platform.Wecontinuously combat spam andfakeaccounts, including by suspending or terminating

accountswebelieve to be spammers andlaunching algorithmicchangesfocused on curbingabusiveactivities. However, our actions to

combat spam andfakeaccountsrequire significantresources andtime.Ifspamand fake accountsincreaseonour platform,thiscould

hurtour reputation, result in legalliability or continuing operationalcosttousand deterpeoplefromusing our products andservices.

Ourusermetrics andother estimatesare subject to inherent challenges in measurement, andrealorperceived inaccuracies in

thosemetrics mayseriously harm andnegativelyaffectour reputationand ourbusiness.

We regularly review metrics, including our Bumble AppPayingUsers,Badoo Appand OtherPayingUsers,Total Paying Users,

Bumble AppAverage Revenue perPayingUser, Badoo Appand OtherAverage Revenue perPayingUserand TotalAverage

Revenue perPayingUsermetrics,toevaluategrowthtrends,measure our performance,and make strategicdecisions.These metrics

arecalculatedusing internal companydatagatheredonananalyticsplatformthatwedevelopedand operate andhavenot been

validated by an independent thirdparty.While thesemetrics arebased on what we believe to be reasonableestimatesofour user base

forthe applicable period of measurement, thereare inherent challengesinmeasuringhow our products areusedacrosslarge

populations globally.Our user metricsare also affected by technology on certain mobile devicesthatautomatically runs in the

background of our applicationwhenanotherphone function is used,and this activity can causeour system to miscount theuser

metricsassociatedwith such account.The methodologies used to measurethese metricsrequire significantjudgmentand arealso

susceptible to algorithmorother technical errors.Inaddition, we arecontinually seekingtoimprove our estimatesofour user base,

andsuchestimates maychange due to improvementsorchangesinour methodology, whichcouldresultinadjustments to our

historical metrics. Ourability to recalculateour historical metricsmay be impacted by data limitations or otherfactors.Moreover,

when we make an acquisition, themethodologies that were historically used by theacquiredcompany to calculate certain metricsmay

be different fromour methodologies in calculatingthosemetrics,and it maytaketime to alignthe methodologies.

Errors or inaccuracies in our metricsordatacouldalsoresultinincorrect businessdecisions andinefficiencies.For instance, if a

significant understatement or overstatement of activeusers were to occur, we mayexpend resources to implement unnecessary

businessmeasures or fail to take requiredactions to attract asufficientnumberofusers to satisfy our growth strategies.We

continually seek to addresstechnical issues in our ability to record such data andimprove our accuracy,but giventhe complexity of

thesystems involvedand therapidly changing nature of mobile devices andsystems,weexpect theseissues to continue,particularlyif

we continue to expand in partsofthe worldwhere mobile data systemsand connections arelessstable. If partners or investorsdonot

perceive our user,geographic, or otherdemographicmetrics to be accurate representations of our user base,orifwediscovermaterial

inaccuracies in our user,geographic, or otherdemographicmetrics,our business, resultsofoperations andreputationmay be

materially adverselyimpacted.

RisksRelated to InformationTechnology Systems

Security breaches,improperaccesstoordisclosureofour dataoruserdata, otherhacking andphishingattacksonour systems, or

othercyber incidentscould compromisethe confidentiality and/or availability of sensitiveinformation relatedtoour business

and/or personaldataprocessedbyusoronour behalf andexposeustoliability,which couldharmour reputationand materially

adversely affect ourbusiness.

Ourproducts andservicesand theope ration of our businessinvol ve thecollection, storage, processing, andtransmission of data,

including personaldata. Theinformation systemsthatstore andprocess such data aresusceptibletoincreasingthreatsofcontinually

evolving cybersecurity risks. In particular,our industryisprone to cyber-attacksbythird partiesseekingunauthorized accessto

confidential or sensitivedata, including user personaldata, or to disrupt our ability to provide services.Weface an ever-increasing

numberofthreats to our informationsys te ms fromabroadrange of threat actors,including foreigngovernments, criminals,

competitors,computerhackers,cyberterroristsand politically motivated groups or individuals,and we have previously experienced

various attempts to accessour informationsystems.These threatsinclude physical or electronicbreak-ins,security breachesfrom

inadvertentorintentionalactions by our employees,contractors, consultants, and/or otherthird partieswith otherwiselegitimate

access to our systems, websiteorfacilities, or fromcyber-attacksbymalicious thirdparties whichcouldbreachour security controls

anddisrupt our systems. Themotivations of such actorsmay vary,but breaches that compromiseour informationtechnology systems

can causeinterruptions,delaysoroperationalmalfunctions,which in turn couldhaveamaterial adverseeffect on our business, results

of operations,financial conditionand prospects.

In addition, therisks relatedtoasecurity breach or disruption, including through adistributed denial-of-service (DDoS) attack,

computer malware, ransomware,viruses,socialengineering (predominantlyspear phishingattacks),scrapingand generalhacking,

have become more prevalentinour industryand have generallyincreased as thenumber, intensity, andsophisticationofattempted

attacksand intrusions fromaround theworld have increased. Such security breaches or disruptions have occurredonour systemsin

thepastand will occuronour systemsinthe future.Wealsoregularly encounter attempts to createfalse or undesirableuseraccounts

andadvertisements or to take otheractions on our platform forobjectionableends.Asaresult of our prominence,the size of our user

base,the typesand volum eofpersonaldataonour systems, andthe evolving nature of our products andservices (including our efforts

involving newand emerging technologies), we maybeaparticularly attractivetargetfor such attacks, including fromhighly

sophisticated,state-sponsored,orotherwise well-fundedactors.

Oureffortstoaddressundesirableactivityonour platform also increasethe risk of retaliatory attacks. Such breachesand attacksonus

or our third-partyservi ce providers maycause interruptions to theservices we provide,degrade theuserexperience, cause usersor

marketerstoloseconfidence andtrust in our products anddecreasethe useofour products or stop usingour products in theirentirety,

impairour internal systems, or result in financialharmtous. Anyfailure to preventormitigatesecurity breaches andunauthorized

accesstoordisclosureofour data or user data,including personalinformation, content, or paymentinformation fromusers,or

informationfrommarketers,couldresultinthe loss, modification, disclosure,destruction, or othermisuseofsuchdata, whichcould

subject us to legalliability,harmour businessand reputationand diminishour competitiveposition. We mayincur significantcosts in

protectingagainst or remediatingsuchincidents andascybersecurity incidentscontinue to evolve,wemay be requiredtoexpend

significant additionalresources to continue to modify or enhanceour protectivemeasures or to investigateand remediateany

informationsecurity vulnerabilities. Oureffortstoprotect our confidentialand sensitivedata, thedataofour usersorother personal

informationwereceive,and to minimizeundesirableactivitiesonour platform,may also be unsuccessful due to software bugs or

othertechnical malfunctions;employee, contractor,orvendor errorormalfeasance, including defectsorvulnerabilitiesinour service

providers’informationtechnology systemsorofferings;government surveillance; breaches of physical security of our facilitiesor

technical infrastructure;our or our third-partyvendors’ implementationoruse of artificial intelligence; or otherthreatsthatmay

surface or evolve.

Moreover, thirdpartiesmay attempttofraudulently induceemployees or userstodiscloseinformationinorder to gain accesstoour

data or our users’ data.Cyber-attackscontinue to evolve in sophisticationand volume, andmay be di fficult to detect forlong periods

of time. As artificialintelligencecapabilitiesimprove andare increasinglyadopted,wemay also seecyber-attackscreated through

artificialintelligence.Although we have developedtechnology andprocessesthatare designedtoprotect our data anduserdata, to

preventdataloss, to disableundesirable accountsand activitiesonour platform,and to preventordetect security breaches,wecannot

assure you that such measures will be successful, that we will be able to anticipate or detect allcyber-attacksorother breaches,that

we will be able to reacttocyber-attacksorother breachesinatimelymanner, or that our remediationeffortswill be successful.For

example, while our technology hassupportedremotework, such workingenvironments maybelesssecureand more susceptibleto

attack,including phishingand social engineeringattempts. We mayalsoincur significant legaland financialexposure, includinglegal

claims,highertransactionfees andregulatoryfines andpenalties as aresultofany compromiseorbreachofour systemsordata

security,orthe systemsand data security of our third-partyproviders.Any of theforegoing couldhaveamaterialadverseeffecton

our business, financialconditionand results of operations.

While our insurancepoliciesinclude liability coverage forcertain of thesematters,ifweexperience asignificant security incident,we

couldbesubject to liability or otherdamages that exceed our insurancecoverage andwecannot be certainthatsuchinsurance policies

will continue to be availabletousoneconomically reasonableterms,oratall, or that anyinsurer will not deny coverage as to any

future claim. Thesuccessfulassertion of one or more largeclaimsagainst us that exceed availableinsurance coverage,orthe

occurrenceofchangesinour insurancepolicies, including premiumincreases or theimpositionoflargerdeductiblesorco-insurance

requirements, couldhaveamaterial adverseeffect on our results of operations,financial conditionand cash flows.

If thesecurity of personaland confidential or sensitive user informationthatweorsomeofour partnersmaintainand storeis

breached,orotherwise accessed by unauthorized persons,itmay be costly to remediatesuchabreach andour reputation couldbe

harmed.

We receive, process, store, andtransmit asignificantamount of personaluserand otherconfidentialorsensitiveinformation,

including user-to-user communications,payment cardinformation andother personalinformationofour usersand employees,and

enable our userstoshare theirpersonalinformationwith each other. We continuously developand maintain systemstoprotect the

security,integrity andconfidentiality of this information, but we have experienced past incidentsand cannot guarantee that inadvertent

or unauthorized useordisclosureofsuchinformationwill not occurinthe future or that thirdparties will not gain unauthorized access

to such informationdespite our efforts. When such incidentsoccur, we maynot be able to remedy them,wemay be requiredbylaw to

notifyregulatorsand individuals whosepersonalinformation wasusedordisclosed without authorization, we maybesubject to

claims againstus, includinggovernment enforcementactions or investigations ,fines andlitigation, andwemay have to expend

significant capitaland otherresourcestomitigatethe impactofsuchevents, including developing andimplementingprotections to

preventfutureeventsofthisnaturefromoccurring. When unauthorized accesstoany of theconfidential, sensitiveorother personal

informationwecollect or processoccurs, theperceptionofthe effectivenessofour security measures andour reputationmay be

harmed,wemay lose current andpotentialusers andthe recognition of our various brands andsuchbrands’competitivepositions may

be diminished,any or allofwhich might materially adverselyaffect our business, financialconditionand resultsofoperations.See

“—We must comply with rapidly-evolving privacy anddataprotectionlawsacrossjurisdictions,and thefailure to do so couldresult

in claims,changestoour businesspractices,monetary penalties, increased cost of operations,ordeclines in user growth or

engagement,orotherwise harm our business.”

Furthermore, some of our partners mayreceive or storeinformation providedbyusorbyour usersthrough mobile or webapplications

integrated with our applications andwemay usethird-party serviceproviders to store, transmit andotherwise processcertain

confidential,sensitiveorother personalinformation on our behalf.Ifthese thirdparties fail to adopt or adhere to adequate data

security practices,tocomplywith applicable legislation, to transfer data with therequiredadequate measures forthe transfer,orinthe

eventofabreach of theirnetworks, our data or our users’ data maybeimproperlyaccessed, used,ordisclosed,which couldsubject us

to legalliability.Wecannot controlsuchthird partiesand cannot guarantee that asecurity breach will notoccurontheir systems.

Although we mayhavecontractualprotections with our third-partyservice providers,contractorsand consultants, anyactualor

perceivedsecurity breach couldharmour reputationand brand, exposeustopotentialliabilityorrequire us to expend significant

resources on data security andinresponding to anysuchactualorperceivedbreach.Any contractualprotections we mayhavefrom

our third-partyservice providers,contractorsorconsultantsmay not be sufficienttoadequately protect us fromany such liabilitiesand

losses, andwemay be unabletoenforce anysuchcontractualprotections.

We useand intend to furtheruse AI in ourbusiness, andchallengeswith properlymanaging its usecould result in reputational

harm,competitive harm,legal liability andother material adverse effectsonour business, financialcondition andresults of

operations.

We useartificialintelligencetechnologies,machinelearning, data analyticsand similartools(collectively, “AI”)inour products and

services,and theint egrati on of AI maybecome more important to our operations overtime.Our competitors mayincorporateAIinto

theirservices more quickly or more successfully than us,which couldimpairour ability to competeeffectivelyand useofAIbyour

serviceproviders,counterparties and otherthird parties, whetherornot knowntous, couldalsoexposeustorisks,all of whichcould

adverselyaffect theresults of our operations.Additionally,ifthe contentorrecommendations that AI applications assist in producing

areorare allegedtobeillegal, infringing third-partyrights, deficient, inaccurate,offensive, biased or otherwiseharmful,wemay face

reputationalconsequences or legalliability,and our business, financialconditionand resultsofoperations maybeadverselyaffected.

AI also presents emerging ethical issues.Ifour useofAIbecomes controversial, we mayexperience loss of user trust, as well as brand

or reputationalharm, competitive harm or legalliability.

AI is thesubject of evolving review by various governmental andregulatoryagenciesaround theglobe,including theSEC andthe

FTC, andlaws, rules, directives and regulations governingthe useofAIare changing andevolving rapidly, such as theEUArtificial

Intelligence Act. We maynot always be able to anticipate how to respond to theseframeworksand we mayhavetoexpend resources

to adjust or auditour products andservicesincertain jurisdictionsifthe legalframeworksonAIare not consistent across jurisdictions.

In particular,use of personaldatainfoundationalmodels andintellectualpropertyownership andlicense rights, including copyright,

of generative andother AI output,havenot been fullyinterpreted by courts or regulations.Any failureorperceivedfailure by us to

comply with laws,rules,directives andregulations governingthe useofAIcouldhaveanadverseimpactonour business, andwemay

not be able to claimintellectualpropertyownership andlicense rightsonany contentorsource code that we createusing AI.

Therapid evolutionofAI, including potentialregulation, makesthe risksofusing AI impossibletopredict,and will require the

dedicationofsignificant resources to develop, test andmaintainAItechnologies,including to implement AI ethically in orderto

minimizeunint ende dharmful impact.

We aresubject to anumberofrisks relatedtopayment card transactions,including datasecuritybreachesand fraudthatweor

thirdpartiesexperience or additionalregulation, anyofwhich couldmaterially adverselyaffect ourbusiness, financialcondition

andresults of operations.

In addition to purchases through theAppleApp Storeand theGooglePlayStore,weacceptanumberofdirectpayment options from

our users, whichare facilitatedbyonlinepayment serviceproviders,including credit anddebit cards, mobile andinternetprovider

billing, onlinewallet-basedpayments, bank transfers, andticket- andvoucher-based payments.The ability to accesspayment

informationonareal-time basiswithout having to proactivelyreach out to theconsumer each time we processanauto-renewal

paymentorapaymentfor thepurchaseofapremiumfeatureonany of our datingproducts is critical to our successand aseamless

experience forour users.

When we or athird partyexperiences adatasecurity breachinvolving paymentcardinformation, affected cardholders will often

canceltheir paymentcards.Inthe case of abreach experienced by athird party, themoresizable thethird party’scustomerbaseand

thegreater thenumberofpaymentcardaccountsimpacted, themorelikelyitisthatour userswouldbeimpactedbysuchabreach. To

theextentour usersare ever affected by such abreachexperiencedbyusorathirdparty,affected userswouldneed to be contacted to

obtainnew paymentcardinformationand processany pending transactions.Itislikelythatwewouldnot be able to reach allaffected

users, andevenifwecould,someusers’new paymentcardinformation maynot be obtainedand some pending transactions maynot

be processed, whichcould materially adverselyaffect our business, financialcondition andresults of operations.

We work with our paymentservice providers to utilizetokenizationtoolstoreplace sensitivecardholderinformationwith astand-in

tokentohelpsecure individualcardholderbankaccount details in paymentcardtransactions andtoreducethe numberofsystems that

have accesstoour customers’ paymentcardinformation. While thesetokenizationtoolscan help limit thedatasecurity risks

associated with paymentcardtransactions,itdoesnot eliminate thoserisks altogether.

Even if our usersare not directly impacted by agiven data security breach, they mayloseconfidence in theability of serviceproviders

to protecttheir personalinformationgenerally,which couldcause them to stop usingtheir paymentcards onlineand choose

alternativepayment methods that arenot as convenientfor us or restrict our ability to processpaymentswithout significantcostor

user effort.

Additionally, if we fail toadequatelyprevent fraudulentpayment card transactions,wemay face litigation, fines, governmental

enforcementaction, civilliability,diminishedpublic perceptionofour security measures,significantly higherpayment card-related

costsand substantialremediationcosts,orrefusal by paymentcardprocessors to continue to processpaymentsonour behalf,any of

whichcouldmateriallyadverselyaffectour business, financialconditionand results of operations.

Finally, thepassage or adoptionofany legislationorregulationaffectingthe ability of serviceproviders to periodically charge

consumersfor,among otherthings,recurring subscription payments maymateriallyadverselyaffect our business, financialcondition

andresults of operations.For example, underthe PaymentServices Regulation2017, banks andother paymentservices providers

must developand implement strong customer authenticationtocheck that thepersonrequestingaccess to an account or trying to make

apayment is permitted to do so.Thishas impactedand couldmateriallyadverselyaffect our paymentauthorizationrate, user journey

andpayinguserconversionrates.Legislationorregulationregarding theforegoing, or changestoexistinglegislationorregulation

governingsubscription payments,havebeenenacted or arebeing considered globally,including in many U.S. states andbythe

FederalTrade Commission, as well as in certain EU countries andthe UK (forexample,the DigitalMarkets,Competitionand

ConsumersBill). While we monitorand attempttocomplywiththese legaldevelopments,wehavebeen in thepast, andmay be in the

future,subjecttoclaimsundersuchlegislation or regulation.

Oursuccess depends, in part, on theintegrity of third-party systemsand infrastructure andoncontinuedand unimpededaccessto

ourprodu ctsand services on theinternet.

We rely on thirdparties, primarily data centerservice providers (suchascolocationproviders), as well as third-partycloud

infrastructureand serviceproviders,payment aggregators, computer systems, internet transitproviders,other communications systems

andservice providers,and system management serviceproviders,inconnectionwith theprovision of our products generally, as well

as to facilitate andprocesscertain transactions with our users. We have no controloverany of thesethird parties, andwecannot

guarantee that such third-partyproviders will not experience system interruptions,outages or delays,deteriorationintheir

performance,orcyberattacksorother cyberincidents.

Problemsorinsolvencyexperiencedbythird-party data centerservice providers (suchascolocationproviders), cloud infrastructure

andservice providers,and paymentaggregators, upon whom we rely,the telecommunications networkproviders with whom we or

they contract or with thesystems through whichtelecommunications providers allocate capacity among theircustomers couldalso

materially adverselyaffect us.Any changesinservice levels at our data centers, cloud infrastructureand serviceproviders,orpayment

aggregators, or anyinterruptions,outages or delays in our systemsorthoseofour third-partyproviders,ordeteriorationinthe

performance of thesesystems,couldimpairour ability to provide our products or processtransactions with our users, whichcould

materially adverselyimpact our business, financialconditionand resultsofoperations.Additionally, if we need to migrateour

businesstodifferent third-partydatacenterservice providers,cloud infrastructureand serviceproviders,orpayment aggregators, as a

result of anysuchproblemsorinsolvency, it coulddelay our ability to processtransactions with our users. See“—Security breaches,

improperaccesstoordisclosureofour data or user data,other hackingand phishingattacksonour systems, or othercyberincidents

couldcompromisethe confidentialityand/or availability of sensitiveinformation relatedtoour businessand/or personaldata

processedbyusoronour behalf andexposeustoliability,which couldharmour reputationand materially adverselyaffect our

business.”

Globalclimate change couldresultincertain typesofnatural disastersoccurring more frequently or with more intenseeffects. Any

such events mayresultinusers beingsubjecttoservice disruptions or outages andwemay not be able to recoverour technical

infrastructureand user data in atimely manner to restartorprovide our services,which mayadverselyaffect our financialresults.We

also have been,and mayinthe future be,subjecttoincreased energy or othercosts to maintain theavailability or performance of our

products in connectionwith anysuchevents.

In addition, we depend on theability of our userstoaccessthe internet.Currently,thisaccessisprovidedbycompanies that have

significant market power in thebroadband andinternetaccessmarketplace,including incumbenttelephone companies, cable

companies, mobile communications companies, government-owned serviceproviders,devicemanufacturersand operatingsystem

providers,any of whom couldtakeactions that degrade, disrupt or increasethe cost of user accesstoour products or services,which

would, in turn,negativelyimpact our business. Theadoptionorrepeal of anylawsorregulations that adverselyaffect thegrowth,

popularityoruse of theinternet, including laws or practices limitinginternetneutrality,coulddecreasethe demand for, or theusage

of,our products andservices,increaseour cost of doing businessand adverselyaffect our results of operations.

Moreover, government-initiatedinternetshutdowns or internet outages duetocyber-attacksinageographical market in whichwe

operate couldalsonegativelyimpactour business. Forexample,acyber-attack by Russia targetingUkraine andany associated

internet outagemay affect theperformance andoperationofour independent contract moderators basedinUkraine,which could, in

turn,materially adverselyaffect our business.

Further, third-partysystemmanagementservice providers that we rely on couldexperience cyberattacksorother cyberincidents,in

whichcasewecouldloseintellectualpropertyand/or experience destructionofour infrastructureand disruptiontoour services,the

restorationofwhich couldtakealong time. If such aninciden tweretooccur, our reputation, business, financialcondition andresults

of operations couldbeadverselyaffected.

Oursuccess depends, in part, on theintegrity of ourinformationtechnology systemsand infrastructure andonour ability to

enhance, expandand adapt thesesystems andinfrastructureinatimely andcost-effectivemanner.

In orderfor us to succeed, our informationtechnology systemsand infrastructuremustperform well on aconsistent basis. Our

products andsystems rely on software andhardwarethatishighlytechnical andcomplex,and depend on theabilityofsuchsoftware

andhardwaretostore,retrieve, processand manage immenseamountsofdata. Despite internal testing, particularly when first

introduced or when newversionsorenhancements arereleased,our software maycontainserious errors or defects, security

vulnerabilities, or software bugs that aredifficult to detect andcorrect,which we maybeunabletosuccessfully correct in atimely

manneroratall. This couldresultinlostrevenue,significant expendituresofcapital, adelay or loss in market acceptance, anddamage

to our reputationand brands.

We have in thepastexperienced,and we mayfromtime to time in thefutureexperience, system interruptions that make some or allof

our systemsordatatemporarily unavailableand preventour products from functioning properlyfor our users; anysuchinterruption

couldarise forany number of reasons,including human errors.Further,our systemsand infrastructureare vulnerabletodamagefrom

fire,power loss, hardware errors,cyber-attacks, technical limitations,telecommunications failures, actsofGod andsimilarevents.

While we have backup systemsinplace forcertain aspectsofour operations,not allofour systemsand infrastructureare fully

redundant.Disasterrecovery planning can neveraccount forall possibleeventualitiesand our propertyand businessinterruption

insurancecoverage maynot be adequate to compensate us fullyfor anylossesthatwemay suffer. Anyinterruptions or outages,

regardless of thecause,couldnegativelyimpact our users’ experienceswithour products,tarnish our brands’reputations anddecrease

demand forour products,any or allofwhich couldmaterially adverselyaffect our business, financialcondition andresults of

operations.Moreover, even if detected,the resolution of such interruptions maytakealong time,duringwhich customersmay notbe

able to access, or mayhavelimitedaccessto, theservice.See “—Security breaches,improperaccesstoordisclosureofour data or

user data,other hackingand phishingattacks on our systems, or othercyberincidents couldcompromisethe confidentiality and/or

availability of sensitiveinformation relatedtoour businessand/or personaldataprocessedbyusoronour behalf andexposeusto

liability,which couldharmour reputationand materially adverselyaffect our business.”

We also continually work to updateand enhanceour software andsystems andexpand theefficiency andscalability of our technology

andnetwork systemstoimprove theexperienceofour users, accommodate substantialincreases in thevolumeoftraffictoour various

products,ensureacceptableloadtimesfor our products andkeep up with changesintechnology anduserpreferences,aswellasto

respond to regulatorychanges andevolving security risksand industrystandards. Implementationofchangesinour technology may

cost more or take longerthanoriginallyexpected andmay require more testingthaninitially anticipated.Any failure to update and

enhanceour technology in atimely andcost-effectivemannercouldmateriallyadverselyaffect our users’ experience with our various

products andthereby negatively impactthe demand forour products,and couldincreaseour costs, either of whichcouldmaterially

adverselyaffect our business, financialcondition andresults of operations.Furthermore,our future success will depend on our ability

to adapttoemergingtechnologies such as tokenization, newauthenticationtechnologies,suchasblockchaintechnologies,artificial

intelligence, virtualand augmentedreality, andcloud technologies.However,our effortstoadapt to emerging technologies maynot

always be successfuland we maynot make appropriate investmentsinnew technologies,which couldmaterially adverselyaffect our

business, financialconditionand results of operations.

As we increase ourrelianceoncloud-based applications andplatforms to operate anddeliver ourproductsand services,any

disruptionorinterferencewiththese platformscould adversely affect ourfinancial condition andresults of operations.

We continue to migrate aportionofour computinginfrastructuretothird party-hosted, cloud-basedcomputingplatforms.These

migrations canberisky andmay cause disruptions to theavailability of our products due to serviceoutages,downtime or other

unforeseen issues that couldincreaseour costs. We also maybesubject to additionalriskofcybersecurity breaches or otherimproper

access to our data or confidential informationduringorfollowing migrations to cloud-basedcomputingplatforms.Inaddition, cloud

computingservices mayoperate differently than anticipated when introduced or when newversions or enhancements arereleased. As

we increase our relianceoncloud-basedcomputingservices,our exposuretodamagefromservice interruptions mayincrease. In the

eventany such issues arise,itmay be difficult forustoswitchour operations fromour primarycloud-basedproviders to alternative

providers.Further,any such transitioncould involve significanttime andexpenseand couldnegativelyimpact our ability to deliver

our products andservices,which couldharmour financialconditionand resultsofoperations.

RisksRelated to Intellectual Property

If we areunabletoobtain, maintain,protect andenforce intellectualpropertyrightsand successfully defend againstclaims of

infringement,misappropriation or otherviolations of third-partyintellectualproperty, it couldmateriallyadversely impactour

business, financialconditionand resultsofoperations.

Ourcommercialsuccessdepends in part on avoiding infringement,misappropriationorother violations of theintellectualproperty

rightsofthird parties. However, we maybecomeparty to disputes fromtime to time overrightsand obligations concerning

intellectualpropertyheldbythird parties, andwemay not prevailinthese disputes.Companies in theinternet, technology andsocial

mediaindustriesare subjecttofrequent litigationbased on allegations of infringement,misappropriation or otherviolationsof

intellectualpropertyrights. Many companiesinthese industries, including many of ourcompetitors,havesubstantially larger

intellectualpropertyportfoliosthanwedo, whichcouldmakeusatarget forlitigationaswemay not be able to assert counterclaims

againstpartiesthatsue us forinfringement,misappropriationorother violations of patent or otherintellectualpropertyrights. In

addition, various “non-practicingentities” that ownpatents andother intellectualpropertyrightsoften attempttoassert claims in order

to extract valuefromtechnology companiesand, giventhatthese patent holding companiesorother adverseintellectualproperty

rightsholders typically have no relevant productrevenue,our ownissued or pending patentsand otherintellectualpropertyrightsmay

provide little or no deterrencetothese rightsholders in bringing intellectualpropertyrightsclaimsagainst us.Fromtime to time we

receive claims fromthird partieswhich allege that we have infringedupon theirintellectualpropertyrightsand we arealsoapartyto

severalpatentinfringement litigations fromsuchthird parties. Further, fromtime to time we mayintroducenew products,product

features andservices,including in areas wherewecurrently do not have an offering, whichcouldincreaseour exposuretopatentand

otherintellectualpropertyclaimsfromcompetitors andnon-practicingentities. In addition, some of our agreements with third-party

partners require us to indemnifythemfor certain intellectual propertyclaims againstthem, whichcouldrequire us to incur

considerable costsindefending such claims,and mayrequire us to paysignificantdamages in theevent of an adverseruling. Such

third-partypartnersmay also discontinue theirrelationships with us as aresultofinjunctions or otherwise, whichcouldresultinloss

of revenue andadverselyimpactour businessoperations.

Although we trytoensurethatour employees andconsultantsdonot usethe proprietary informationorknow-how of others in their

work forus, we maybesubject to claims that we or our employees or consultantshaveinadvertently or otherwiseusedordisclosed

intellectualproperty, including inventions,trade secrets, software code or otherproprietary information, of aformeremployerorother

thirdparties.Litigationmay be necessary to defend againstthese claims andifwefailindefending anysuchclaims,inadditionto

paying monetary damages, we maylosevaluableintellectualpropertyrightsorpersonnel. Further, while it is our policytorequire our

employees andcontractorswho maybeinvolvedinthe conceptionordevelopmentofintellectualpropertytoexecute agreements

assigning such intellectualpropertytous, we maybeunsuccessful in executing such an agreementwith each partywho, in fact,

conceivesordevelops intellectualpropertythatweregardasour own. Additionally,any such assignmentofintellectualproperty

rightsmay not be self-executing, or theassignmentagreements maybebreached,and we maybeforced to bringclaimsagainst third

parties, or defend claims that they maybring againstus, to determinethe ownershipofwhatweregardasour intellectualproperty.

As we face increasing competitionand developnew products,weexpect thenumberofpatentand otherintellectualpropertyclaims

againstusmay grow.There maybeintellectualpropertyorother rightsheldbyothers, including issued or pending patents, that cover

significant aspectsofour products andservices, andwecannot be sure that we arenot infringing or violating, andhavenot infringed

or violated,any third-partyintellectualpropertyrightsorthatwewill not be held to have done so or be accusedofdoing so in the

future.

Anyclaim or litigationalleging that we have infringedorotherwise violated intellectualpropertyorother rightsofthird parties, with

or without merit, andwhether or not settledout of courtordeterminedinour favor,couldbetime-consumingand costly to address

andresolve,and coulddivertthe time andattentionofour management andtechnical personnel. Some of our competitorshave

substantiallygreater resourcesthanwedoand areabletosustain thecosts of complexintellectualpropertylitigationtoagreater

degree andfor longerperiods of timethanwecould.The outcome of anylitigationisinherently uncertain,and therecan be no

assurances that favorable finaloutcomeswill be obtainedinall cases.Inaddition, thirdparties mayseek,and we maybecome subject

to,preli minaryorprovisionalrulings in thecourse of anysuchlitigation, including potentialpreliminaryinjunctions requiring us to

ceasesomeorall of our operations.Wemay decide to settle such lawsuits anddisputes on termsthatare unfavorable to us.Similarly,

if anylitigationtowhich we areapartyisresolvedadversely, we maybesubject to an unfavorable judgmentthatmay not be reversed

upon appeal,including beingsubject to apermanent injunctionand beingrequiredtopay substantialmonetary damages, including

treble damagesand attorneys’ fees,ifweare found to have willfully infringedaparty’sintellectualpropertyrights. Theterms of such

asettlementorjudgmentmay requireustoceasesomeorall of our operations or paysubstantialamountstothe otherparty.In

addition, we mayhavetoseekalicense to continue practices found to be in violationofathird-party’srights. If we arerequired, or

choosetoenter into royaltyorlicensing arrangements, such arrangementsmay not be availableonreasonableterms,oratall,and may

significantly increase our operatingcosts andexpenses.Sucharrangementsmay also onlybeavailableonanon-exclusivebasis such

that thirdparties, including our competitors,couldhaveaccesstothe same licensedtechnology to competewith us.Asaresult, we

mayalsoberequiredtodevelop or procurealternativenon-infringing technology, whichcouldrequire significanteffort,time and

expense, or discontinue useofthe technology. Therealsocan be no assurancethatwewouldbeabletodevelop or license suitable

alternativetechnology to permit us to continue offering theaffected products or services.Ifwecannot developorlicense alternative

technology forany allegedlyinfringing aspect of our business, we wouldbeforced to limit our products andservices andmay be

unabletocompete effectively. Furthermore, becauseofthe substantialamount of discovery requiredinconnectionwith intellectual

propertylitigation, thereisarisk that some of our confidential informationcouldbecompromised by disclosure duringthistype of

litigation. Anyofthe foregoing, andany unfavorable resolutionofsuchdisputes andlitigation, wouldmaterially adverselyimpactour

business, financialconditionand results of operations.

We mayfailtoadequatelyobtain, protect andmaintainour intellectualpropertyrightsorpreventthird parties from making

unauthorizeduse of such rights.

Ourintellectualpropertyisamaterial assetofour businessand our success depends in part on our abilitytoprotect our proprietary

rightsand intellectualproperty. Forexample,werelyheavily upon our trademarks,designs ,copyrights, relateddomainnames,social

mediahandles andlogos to market our brands andtobuild andmaintainbrand loyaltyand recognition. We also rely upon patents,

proprietary technologies andtrade secrets, as well as acombination of laws,and contractualrestrictions,including confidentiality

agreements with employees,customers,suppliers,affiliatesand others,toestablish, protectand enforceour various intellectual

propertyrights. Forexample,wehavegenerally registered andcontinue to applytoregisterand renew, or secure by contract where

appropriate,trademarksand servicemarks as they aredevelopedand used,and reserve, register andrenew domainnames andsocial

mediahandles as we deem appropriate. If our trademarks andtrade namesare not adequately protected, then we maynot be able to

build andmaintainnamerecognition in our marketsofinterestand our businessmay be adverselyaffected.Effectivetrademark

protectionmay not be availableormay not be sought in everycountry in whichour products aremadeavailable, in everyclass of

goods andservices in whichweoperate,and contractualdisputes mayaffect theuse of marksgoverned by privatecontract.Our

registered or unregisteredtrademarksortrade namesmay be challenged, infringed, circumvented or declared genericordeterminedto

be infringing on othermarks.For example, thirdparties have challengedour “BUMBLE” trademarks in theUnitedKingdom andthe

EU,and if such challengesare successful,wecould lose valuable trademarkrights. Further, at times, competitors mayadopt trade

namesortrademarkssimilartoours, therebyimpedingour abilitytobuild brandidentity andpossiblyleading to market confusion.

Similarly,not everyvariationofadomainnameorsocialmedia handlemay be availableorberegisteredbyus, even if available. The

occurrenceofany of theseeventscould result in theerosion of our brands andlimit our abilitytomarketour brands usingour various

domainnames andsocialmedia handles,aswellasimpedeour ability to effectivelycompete againstcompetitors with similar

technologies or products,any of whichcouldmaterially adverselyaffect our business, financialcondition andresults of operations.

We cannot guarantee that our effortstoobtainand maintain intellectualpropertyrightsare adequate,orthatwehavesecured, or will

be able to secure,appropriatepermissions or protections forall of theintellectualpropertyrightsweuse or rely on. Furthermore, even

if we areabletoobtainintellectualpropertyrights, anychallenge to our intellectualpropertyrightscouldresultinthembeing

narrowedinscope or declared invalid or unenforceable.Inaddition, otherpartiesmay also independently developtechnologies that

aresubstantially similar or superior to oursand we maynot be able to stop such partiesfromusing such independently developed

technologies andfromcompetingwith us.

We also rely upon unpatented proprietary informationand othertrade secretstoprotect intellectualpropertythatmay not be

registrable, or that we believeisbestprotected by meansthatdonot require public disclosure.While it is our policytoenter into

confidentiality agreements with employees and thirdparties to protectour proprietary expertiseand othertrade secrets, we cannot

guarantee that we have enteredintosuchagreements with each partythathas or mayhavehad accesstoour proprietary informationor

tradesecrets and, even if enteredinto, theseagreementsmay otherwisefailtoeffectivelyprevent disclosure of proprietary

information, maybelimitedastotheir term andmay not provide an adequate remedy in theevent of unauthorized disclosure or useof

proprietary information. Monitoring unauthorized uses anddisclosures is difficult,and we do not know whetherthe stepswehave

takentoprotect our proprietary technologies will be effective. Enforcingaclaimthatapartyillegallydisclosed or misappropriateda

tradesecretcan be difficult, expensiveand time-consuming, andthe outcomeisunpredictable. Some courts inside andoutside the

UnitedState sare less willingorunwillingtoprotect tradesecrets. In addition, tradesecretsmay be independently developedbyothers

in amannerthatcouldprevent legalrecourse by us.Ifany of our confidentialorproprietary information, such as our tradesecrets,

were to be disclosedormisappropriated, or if anysuchinformationwas independently developedbyacompetitor,our competitive

positionwouldbemateriallyadverselyharmed.

Ourintellectualpropertyrightsand theenforcement or defenseofsuchrightsmay be affected by developments or uncertainty in laws

andregulations relating to intellectualpropertyrights. Moreover, many companieshaveencountered significant problemsin

protectingand defending intellectual propertyrightsinforeign jurisdictions.The legalsystems of certain countries,particularly certain

developing countries,donot favorthe enforcementofpatents,trade secretsand otherintellectualpropertyprotection, whichcould

make it difficult forustostopthe infringement,misappropriationorother violationofour intellectualpropertyormarketing of

competingproducts in violationofour intellectualpropertyrightsgenerally.

We also maybeforced to bringclaimsagainst thirdparties to determinethe ownershipofwhatweregardasour intellectualproperty

or to enforceour intellectualpropertyagainst its infringement,misappropriationorother violations by thirdparties. However, the

measures we take to protect our intellectualpropertyfromunauthorized usebyothersmay not be effectiveand therecan be no

assurancethatour intellectualpropertyrightswill be sufficient to protectagainst others offering products or services that are

substantiallysimilarorsuperior to oursand that competewith our business. We maynot prevailinany intellectualproperty-related

proceedings that we initiate againstthi rd parties. Further, in such proceedings or in proceedings before patent,trademark and

copyright agencies,our asserted intellectual propertycouldbefound to be invalid or unenforceable,inwhich case we couldlose

valuable intellectualpropertyrights. In addition, even if we aresuccessfulinenforcing our intellectualpropertyagainst thirdparties,

thedamages or otherremediesawarded,ifany,may not be commercially meaningful.Regardlessofwhether anysuchproceedings are

resolved in our favor,suchproceedings couldcause us to incursignificant expenses andcoulddistract our personnelfromtheir normal

responsibilities. Accordingly, our effortstoenforce our intellectualpropertyrightsaround theworld maybeinadequate to obtaina

significant commercialadvantagefromthe intellectualpropertythatwedevelop or license.

Despite themeasures we take to protect our intellectualpropertyrights, our intellectualpropertyrightsmay still not be adequate and

protected in ameaningfulmanner, challengestocontractualrightscouldarise,third partiescouldcopy or otherwiseobtainand useour

intellectualpropertywithout authorization, or laws andinterpretations of laws regardingthe enforceabilityofexistingintellectual

propertyrightsmay change overtime in amannerthatprovideslessprotection. Theoccurrenceofany of theseeventscouldimpede

our ability to effectivelycompete againstcompetitors with similartechnologies,any of whichcouldmaterially adverselyaffect our

business, financialconditionand results of operations.See “—If we areunabletoobtain, maintain,protect andenforce intellectual

propertyrightsand successfully defend againstclaimsofinfringement,misappropriationorother violations of third-partyintellectual

property, it couldmateriallyadver sely impact our business, financialconditionand resultsofoperations.”

Ouruse of “opensource” software couldsubject ourproprietary software to generalrelease,adversely affect ourabilitytosellour

productsand services andsubject us to possiblelitigation, andthird partiesmay utilizetechnology that we developedand made

availablevia opensourcefor improperpurposes.

We useopensource software in connectionwith aportionofour proprietary software andexpect to continue to useopensource

software in thefuture. Undercertain circumstances, some opensource licensesrequire usersofthe licensedcode to provide theuser’s

ownproprietary source code to thirdparties upon request,orprohibitusers fromchargingafeetothird partiesinconnectionwiththe

useofthe user’s proprietary code.While we trytoinsulateour proprietary code fromthe effectsofsuchopensource license

provisions,wecannot guarantee that we will be successful, that allopensource software is reviewed priortouse in our products,that

our developers have not incorporated opensource software into our products,orthattheywillnot do so in thefuture. Accordingly, we

mayfaceclaimsfromotherschallenging our useofopensource software,claimingownership of,orseekingtoenforce thelicense

termsapplicable to such opensourcesoftware, including by demanding releaseofthe opensource software,derivativeworks or our

proprietary source code that wasdevelopedordistributed with such software.Suchclaimscouldalsorequire us to purchasea

commerciallicense or require us to devoteadditionalresearchand developmentresourcestochange our software,any of whichwould

have anegativeeffect on our businessand results of operations.Inaddition, if thelicense termsfor theopensource code change,we

maybeforcedtore-engineer our software or incuradditionalcosts.Additionally,the termsofmanyopensource licensestowhich we

aresubjecthavenot been interpretedbyU.S.orforeign courts.There is ariskthatopensource software licensescouldbeconstruedin

amanne rthatimposes unanticipated conditions or restrictions on our abilitytomarketorprovide our products.

We also developtechnology (including AI technology) that we make availablevia opensource to thirdpartiesthatcan usethis

technology foruse in theirown products andservices. We maynot have insight into,orcontrolover, thepractices of thirdparties who

mayutilizesuchtechnologies.Assuch, we cannot guarantee that thirdpartieswillnot usesuchtechnologies forimproperpurposes,

including through thedisseminationofillegal,inaccurate, defamatory or harmfulcontent, intellectualpropertyinfringement or

misappropriation, furthering bias or discrimination, cybersecurity attacks, data privacy violations,other activitiesthatthreaten

people’ssafetyorwell-beingon- or offline, or to developcompetingtechnologies.Suchimproperuse by anythird partycould

adverselyaffect our reputation, business, financialconditionorresults of operations,orsubject us to legalliability.

RisksRelated to Regulation andLitigation

Ourbusinessissubject to complexand evolvingU.S.and internationallawsand regulations. Many of theselawsand regulations

aresubject to change anduncertain interpretation, andcould result in claims,changes to ourbusinesspractices,monetary

penalties,increased cost of operations,ordeclines in user growth or engagement,orotherwise harm ourbusiness.

We aresubject to avariety of laws andregulations in theUnitedStatesand abroad that involve matters that areimportant to or may

otherwiseimpactour business, including, among others,broadband internet access, onlinecommerce, onlinesafety, advertising, user

privacy,dataprotection, cybersecurity, artificialintelligence, intermediary liability, protectionofminors, consumer protection,

generalsafety, sex-trafficking, labor andemployment, taxationand securitieslaw compliance. TheseU.S.federal,state,and municipal

andforeign laws andregulations,which in some cases can be enforced by privatepartiesinadditiontogovernment entities,are

constantly evolving andcan be subject to significantchange.Inaddition, foreignlawsand regulations can imposedifferent obligations

or be more restrictivethanthoseinthe United States.

Theintroductionofnew brands andproducts or changestoexistingbrands andproducts,expansionofour activitiesincertain

jurisdictions,orother actions that we maytakemay result in neworenhanced governmental or regulatoryscrutiny. As aresult, the

application, interpretation, andenforcementofthese laws andregulations areoften uncertain anddifficult to predict, particularly in the

newand rapidlyevolving industryinwhich we operate,and maybeinterpreted andappliedinconsistently fromstate to stateand

country to country andinconsistentlywith our current policiesand practices.These laws andregulations,aswellasany associated

inquiries or investigations or anyother government actions,may be costly to comply with andmay delayorimpedethe development

of newproducts,require that we change or ceasecertain businesspractices,resultinnegativepublicity, increaseour operatingcosts,

require significantmanagementtime andattention, andsubject us to remedies that mayharmour business, including fines, demands

or orders that require us to modify or ceaseexistingbusinesspractices.For example, avariety of laws andregulations govern the

ability of userstocancel subscriptions andauto-paymentrenewals. We have in thepastand mayinthe future be subject to claims

undersuchlawsand regulations that couldmaterially adverselyaffect our business.

Thepromulgationofnew laws or regulations,orthe newinterpretationofexistinglawsand regulations,ineach case,thatrestrictor

otherwiseunfavorably impact our business, or our ability to provide or themannerinwhich we provide our services,couldrequire us

to change certain aspectsofour businessand operations to ensure compliance, whichcoulddecreasedemandfor services,reduce

revenues, increasecosts andsubject us to additionalliabilities. Forexample,U.S.courts have frequently interpretedTitle III of the

AmericanswithDisabilities Act(the“ADA”)torequire websites andweb-based applications to be made fully accessibleto

individuals with disabilities. Though we have made enhancements to our products to improve accessibility,wemay stillbecome

subject to claims that our apps arenot fullycompliant with theADA, whichmay require us to make additionalmodifications to our

products to provide enhanced or accessibleservicesto, or make reasonableaccommodations for, individuals,and couldresultin

litigation, including classactionlawsuits.

In addition, we aresubject to various laws with regard to contentmoderation, such as theEUDigital Services Act, whichmay affect

our businessand operations andsubject us to significantfines if such laws areinterpreted andappliedinamannerinconsistent with

our practices.Other countries such as theUnitedKingdom have implementedsimilarlegislationthatimposepenaltiesfor failureto

remove certaintypesofcontent. Similarly,contentmoderationlawsare beingconsidered in some U.S. states.Moreover, in theUnited

States,there arelawstargetingcompanies that operate onlinedatingservices comingintoeffect in 2024, whichinclude significant

penaltiesfor non-compliance. Thereisalsoadeveloping trendfor onlinesafetycodestotargetspecificindustriessuchasthe online

datingindustry(forexample,inAustralia). Such onlinesafetylawsand codesmay require us,inthe future,tochange our products,

businesspractices or operations,which couldadversely affect user growth andengagement andincreasecompliancecosts for our

business.

Theadoptionofany laws or regulations that adverselyaffect thepopularity or growth in useofthe internet or our services,including

laws or regulations that undermineopenand neutrally administeredinternetaccess, coulddecreaseuserdemandfor our service

offerings andincreaseour cost of doing business.

Furthermore, we aresubject to rulesand regulations of theUnitedStatesand abroad relating to exportcontrols andeconomic

sanctions,including, but not limitedto, tradesanctions administeredbythe Office of ForeignAssets Controlwithin theU.S.

Department of theTreasury, as well as theExportAdministrationRegulations administeredbythe Department of Commerce. These

regulations maylimitour abilitytomarket, sell,distributeorotherwise transfer our products or technology to prohibitedcountries or

persons.While we have takensteps to comply with theserules andregulations,adeterminationthatwehavefailedtocomply, whether

knowinglyorinadvertently,may result in substantialpenalties,including fines, enforcementactions,civil and/or criminalsanctions,

thedisgorgement of profits,and maymaterially adverselyaffect our business, results of operations andfinancial condition. See“—

We operate in various internationalmarkets,includi ng certain marketsinwhich we have limited experience.Asaresult, we face

additionalrisks in connectionwith certain of our internationaloperations.”

We must comply with rapidlyevolvingprivacy anddataprotectionlawsacrossjurisdictions,and thefailure to do so couldresultin

claims,changes to ourbusinesspractices,monetarypenalties, increasedcostofoperations, or declines in user growth or

engagement,orotherwise harm ourbusiness.

Oursuccessdepends,inpart, on our ability to access, collect,and usepersonaldataabout our users, payers andemployees in a

responsible way, andtocomplywith applicable data privacy laws.Weprocessasignificant volumeofpersonalinformationand other

regulated informationbothabout our usersand employees.There arenumerous laws in thecountries in whichweoperate regarding

privacy andnumerous laws that stipulatedetailedrequirementsfor thestorage,sharing, use, processing, disclosure andprotectionof

personalinformation, thescope of whichare constantly changing, andinsomecases,these laws areinconsistent andconflictingand

subject to differing interpretations.Asnew laws of this nature areproposed andadopted acrossthe world, we currently,and from time

to time,may not be in technicalcompliancewith allsuchlaws. Such laws also arebecomingincreasinglyrigorous andcouldbe

interpretedand appliedinwaysthatmay have amaterialadverseeffect on our business, financialconditionand results of operations.

In addition, enforcementpractices arelikelytoremainunpredictablefor theforeseeable future.

Amongstother laws andregulations,weare andwillcontinue to be subject to:

• theEU'sGeneral Data ProtectionRegulation(“GDPR”), whichhas abroad arrayofdetailedrequirementsfor thehandling

of personaldata. TheGDPRincludesobligations andrestrictionsconcerning theconsentand rightsofindividuals to whom

thepersonaldatarelates,the transfer of personaldataout of theEuropean Economic Area, security breach notifications and

maintainingthe security andconfidentialityofpersonaldata. Underthe GDPR we maybesubject to finesofupto€20

millionorupto4%ofthe totalworldwide annualgroup turnoverofthe preceding financialyear (whichever is higher), as

well as face claims fromindividuals basedonthe GDPR’s privaterightsofaction. TheGDPRiscontinuously interpreted

by EU data protectionregulatorsand theEuropean Data ProtectionBoard,which requiresustomakechangestoour

businesspractices fromtime to time that couldbetime-consumingand expensive, andcouldgenerateadditionalrisks and

liabilities.

• theUnitedKingdom's versionofthe GDPR(combiningthe GDPR andthe Data ProtectionAct of 2018),which exposes us

to adifferent interpretation of thelaw by theUKInformationCommissioneraswellastwo parallelregimes for the

protectionofpersonaldata, each of whichauthorizes similarfines andwhich maylead to potentially divergentenforcement

actions.

• legislationthatthe European Unionisalsocurrently workingontoreplace theEU’sPrivacy andElectronic

Communications (so-called“e-Privacy”)Directive, notably to amendrules on theuse of cookies,electronic

communications data andmetadata, anddirectelectronicmarketing.

• newcomprehensive privacy laws effectiveortobecomeeffectivein2024 in anumberofU.S.states, namely,California,

Virginia,Colorado, Connecticut,Utah, Montana, Oregon, andTexas,aswellasothersthatare expected to come into force.

Theselawsand regulations impose, or have thepotential to impose, additionalobligations on companiesthatcollect,store,

use, retain,disclose, transfer andotherwise processconfidential,sensitiveand personalinformation, andwill continue to

shapethe data privacy environmentnationally.

Elsewhereinternationally,weare subjecttoadditionaland in some cases more stringent legalobligations concerning our treatment of

user,employeeand otherpersonalinformation, such as laws regardingdatalocalizationand/or restrictions on data export, andlegal

requirementsrelatingtothe transfer of personaldataacrossinternationalborders that continue to evolve.The GDPR,and theGDPR

as it appliesinthe UnitedKingdom by vi rtue of theUKEuropeanUnion (Withdrawal)Act 2018, as amended(the“UK GDPR”),

prohibittransfers of personaldatafromthe EU or theUK(as applicable)tomostother countries including theUnitedStates, unlessa

particular compliance mechanism(and, if necessary, certainsafeguards) areimplemented.One such mechanismisthe useof“standard

contractualclauses”publishedbythe European Commission (and/or similarorrelated clausespublishedpursuanttothe UK GDPR).

Following theinvalidationofapriorU.S.transferprogram by theCourtofJustice of theEuropean Union, therecently established(i)

Data PrivacyFramework (“DPF”)withrespect to theEUand (ii) UK-U.S. data bridge with respecttothe UK, now provide another

such mechanismtoU.S.companies participatinginthe DPFprogram.However,the operationalcosts andcomplexities of conducting

businessinrespect of selectingand then implementingoradhering to aparticular compliance mechanism(andadditionalsafeguards,

if required) to allowfor such transfersofpersonaldatacan be significantand mayincreaseasrequirementsand practiceinthisarea

continue to evolve.For example, legalchallengestothe DPF(andrelated UK-U.S. data bridge)are anticipated,soifweorrelated

entitiesweretoadhere to theseprogramsand they aredeemed inadequate in thefuture, operationalcosts couldincreasefurther. If any

otherchange in lawful transfer mechanisms occurs,additionalcosts mayneed to be incurredtoimplement necessarysafeguardsto

comply with theGDPRand/or theUKGDPR. Moreover, recentand potentialnew rulesand restrictions on theflowofdataacross

borders underother globaldataprotectionlaws, if applicable,couldincreasethe cost andcomplexity of conducting businessinsome

markets.

Additionally, federalregulatorssuchasthe FederalTrade Commission (“FTC”)continue to increasetheir focusonprivacy anddata

security practices at technology andoth er companies. Forexample,in2022, theFTC released an Advanced Notice of Proposed

Rulemaking to consider data security practices that harm consumers.

Themyriadinternationaland U.S. privacy anddatabreachlawsare not consistent,and complianceinthe eventofawidespread data

breach is difficult andmay be costly.Inadditiontogovernment regulation, privacy advocates andindustrygroups have andmay in the

future proposeself-regulatorystandardsfromtime to time.These andother industrystandardsmay legally or contractually applyto

us,orwemay electtocomplywithsuchstandards. Failure to comply with evolving privacy laws andstandardscouldresultinclaims,

changestoour businesspractices,monetary penalties,increased cost of operations,ordeclines in user growth or engagement,or

otherwiseharmour businessorour reputation, andtothe extent that we need to alterour businessmodelorpractices to adapttothese

obligations,wecouldincur additionalexpenses, whichmay in turn materially adverselyaffect our business, financialcondition, and

results of operations.

We aresubject to litigationand adverse outcomes in such litigationcould have amaterialadverse effect on ourfinanci al

condition.

We are, andfromtimetotime maybecome,subject to litigationand various legalproceedings,including litigationand proceedings

relatedtointellectualpropertymatters,privacy,dataprotectionand consumer protectionlaws, as well as stockholderderivativesuits,

classactionlawsuits,massarbitrations,actions fromformeremployees andother matters, that involve claims forsubstantialamounts

of moneyorfor otherrelief, resultsinsignificantcosts forlegal representation, arbitrationfees,orother legalorrelated services,or

that might necessitate changestoour businessoroperations.Further,because we strive forgenderequality in relationships and

empower womentomakethe firstmove on our platforms, we have been,and maycontinue to be,subject to discriminationlawsuits.

Moreover, we have been,and mayinthe future be,subjecttolegacyclaims or liabilitiesarising fromsystems,productfeaturesor

controls in earlierperiods of our development. Thedefense of theseactions is time consumingand expensiveand maysubject us to

remedies that mayrequire us to modify or ceaseexistingbusiness. We evaluate theselitigationclaims andlegal proceedings to assess

thelikelihood of unfavorable outcomesand to estimate,ifpossible, theamount of potentiallosses. Basedonthese assessments and

estimates, we mayestablish reserves and/or disclose therelevantlitigationclaims or legalproceedings,asand when requiredor

appropriate.These assessments andestimates arebased on informationavailabletomanagementatthe time of such assessmentor

estimationand involve asignificant amount of judgment. As aresult, actualoutcomesorlossescoulddiffermaterially from those

envisionedbyour current assessments andestimates.Our failure to successfully defend or settle anyofthese litigations or legal

proceedings couldresultinliability that,tothe extent not coveredbyour insurance, couldhaveamaterialadverseeffect on our

business, financialconditionand results of operations.See Part I, “Item3—Legal Proceedings”and Note 19, Commitments and

Contingencies, to theaudited consolidated financialstatementsincludedin“Item 8―FinancialStatementsand Supplementary Data.”

Onlineapplications aresubject to variouslawsand regulations relatingtochildren’sprivacy andprotection, whichifviolated,

couldsubject us to an increasedriskoflitigationand regulatory actions.

Thereare avariety of laws andregulations,someofwhich have been adopted in recent years, aimedatprotectingchildrenusing the

internet,suchasArticle 8ofthe GDPR,the EU DigitalServicesAct,the UK OnlineSafetyAct andthe CaliforniaAge-Appropriate

Design Code Act. Although our produc ts andservicesare intendedfor andtargetedtoadults onlyand we implement acombinationof

measures designedtoprevent minorsfromgaining accesstoour application, no assurances can be giventhatsuchmeasureswillbe

sufficienttocompletelyavoid allegations of violations of such laws andregulations,any of whichcouldexposeustosignificant

liability,penalties, reputationalharmand loss of revenue,among otherthings.Moreover, newregulations,orchangestoexisting

regulations,couldincreasethe cost of our operations andmaterially adverselyaffect our business, financialcondition andresults of

operations.

We aresubject to taxationrelated risksinmultiplejurisdictions.

We areaU.S.-based multinationalcompany subject to taxinmultiple U.S. andforeign taxjurisdictions.Significant judgmentis

requiredindeterminingour globalprovision forincometaxes,deferredtax assets or liabilitiesand in evaluating our taxpositions on a

worldwidebasis.While we believe our taxpositions areconsistent with thetax laws in thejurisdictions in whichweconductour

business, it is possiblethatthese positions maybechallengedbyjurisdictionaltax authorities, whichmay have asignificant impact on

our globalprovision forincometaxes.

Taxlawsare beingre-examined andevaluated globally. Newlawsand interpretations of thelaw aretaken into account forfinancial

statementpurposes in thequarter or year that they become applicable.Tax authoritiesare increasinglyscrutinizingthe taxpositions of

companies. Many countries in theEuropean Union, as well as anumberofother countries andorganizations such as theOrganization

forEconomic Cooperationand Developmentand theEuropean Commission, areactivelyconsideringchangestoexistingtax laws

that,ifenacted,couldincreaseour taxobligations in countries wherewedobusiness. Theseproposalsinclude changestothe existing

framework to calculate income tax, as well as proposalstochange or imposenew typesofnon-income taxes, including taxesbased on

apercentageofrevenue.For example, theOrganizationfor Economic Cooperation andDevelopmenthas released proposalstocreate

an agreed setofinternationalrules forfightingbaseerosion andprofitshifting, including PillarOne andPillar Two, such that taxlaws

in countries in whichwedobusinesscouldchange on aprospectiveorretroactivebasis,and anysuchchangescouldadverselyimpact

us.Inaddition, severalcountries in theEuropean Unionhaveproposed or enacted taxesappl icable to digitalservices,which includes

businessactivitiesonsocialmedia platformsand onlinemarketplaces,and wouldlikelyapplytoour business. Many questions remain

about theenactment,formand applicationofthese digitalservicestaxes.The interpretationand implementationofthe various digital

services taxes(especially if thereisinconsistencyinthe applicationofthese taxesacrosstax jurisdictions)couldhaveamaterially

adverseimpact on our business, results of ope rations andcashflows.Moreover, if theU.S.orother foreigntax authoritieschange

applicable taxlaws, our overall taxescould increase, andour business, financialconditionorresults of operations maybeadversely

impacted.

Actionbygovernments to restrict access to Bumble app or ourother productsintheir countries couldsubstantiallyharmour

business andfinancial results.

Governmentsfromtime to time seek to censor contentavailable on Bumble apporour otherproducts in theircountry,restrictaccess

to our products fromtheir country entirely, or imposeother restrictions (including on third-partyplatforms that market anddistribute

our products)thatmay affect theaccessibility of our products in theircountry foranextendedperiodoftimeorindefinitely.For

example, user accesstoBumbleapp andcertain of our otherproducts mayberestrictedinChina,whether forpolitical reasons,in

responsetodecisions we make regardinggovernmental requests, or otherwise. In addition, government authoritiesinother countries

mayseek to restrict user accesstoour products if they consider us to be in violationoftheir laws or athreat to public safety or for

otherreasons,suchasconsideringthe contentonour platforms, or onlinedatingand social connectionservices generally, immoral. In

theevent that contentshownonBumbleapp or our otherproducts is subject to censorship, accesstoour products is restricted,in

wholeorinpart, in one or more countries,weare requiredtoorelect to make changestoour operations,orother restrictio ns are

imposed on our products,orour competitors areabletosuccessfullypenetrate newgeographicmarkets or capture agreater shareof

existinggeographicmarkets that we cannot accessorwhere we face otherrestrictions, our ability to retain or increase our user base,

user engagement,orthe levelofadvertisingbymarketers maybeadverselyaffected,wemay not be able to maintain or grow our

revenue as anticipated,and our financialresults couldbematerially adverselyaffected.

Ourbusinessissubject to evolving corporategovernanceand public disclosure regulations andexpectations,including with

respect to environmental, social andgovernancematters,thatcould exposeustonumerousrisks.

We aresubject to rulesand regulations promulgatedbyanumberofgovernmental andself-regulatoryorganizations,including the

SEC, Nasdaq andthe FinancialAccountingStandards Board. Theserules andregulations continue to evolve in scope andcomplexity,

making compliancemoredifficult anduncertain.Inparticular,regulators, customers, investors, employees andother stakeholders are

increasinglyfocusingonenvironmental, social andgovernance (“ESG”)matters andrelated disclosures. Thesechanging rules,

regulations andstakeholderexpectations have resultedin, andare likelytocontinue to result in,increased generaland administrative

expenses andincreased management timeand attentionspent complyingwith such regulations or meetingsuchexpectations.

Developing andactingoninitiatives andnew legalimperatives within thescope of ESG, andcollecting, measuringand reporting

ESG-relatedinformationand metricsunderevolvingreportingstandardscan be costly,difficult andtime-consuming. In particular,the

EU’s CorporateSustainability Reporting Directive(“CSRD”)willrequire expansivedisclosures on various sustainability topics such

as climatechange,biodiversity,workforce,supplychain,and businessethicsbyin-scope EU entities andcertain non-EU entitieswith

significant cross-borderbusinessinEUmarkets.Inaddition, California’srecently-enacted ClimateCorporateDataAccountability Act

andClimate RelatedFinancial Risk Actwill require newreportingrelatingtogreenhousegas (“GHG”)emissions andclimate risk,

similar to climate-relateddisclosurerequirementscurrently beingconsidered by theSEC.Similarly, in theUK, certain large

companiesare subject to requirementstoreportenergyusage andGHG emissions data on an annualbasis underthe Streamlined

Energy andCarbonReportingFramework andinformation relatingtoclimate change relatedrisks andopportunitiesunderthe UK’s

Companies(StrategicReport) (Climate-relatedFinancial Disclosure)Regulations 2022. We mayalsocommunicate certain initiatives

andgoals regardingenvironmentalmatters,diversity,responsible sourcing, social investmentsand otherESG-relatedmatters in our

SECfilings or in otherpublic disclosures. Theseinitiatives andgoals within thescope of ESGcouldbedifficult andexpensiveto

implement,the technologies needed to implement them maynot be cost-effectiveand maynot advanceatasufficientpace, andwe

couldbecriticized forthe inaccuracy,inadequacy or incompleteness of thedisclosure. Further, statements about our ESG-related

initiatives andgoals,and progressagainst thosegoals,may be basedonstandardsfor measuringprogressthatare stilldeveloping,

internal controls andprocesses that continue to evolve,and assumptions that aresubjecttochange in thefuture. In addition, we could

be criticized forthe scopeornatureofsuchinitiativesorgoals,for stepstaken or not takentoachieve thegoals,orfor anyrevisions to

thesegoals.Ifour ESG-relateddata, processesand reportingare incomplete or inaccurate,orifwefailtoachieve or disclose adequate

progresswith respect to our goals within thescope of ESGonatimely basis, or at all, our reputation, business, financialconditionor

results of operations couldbeadverselyaffected.

RisksRelated to OurIndebtedness

Oursubstantialindebtednesscould materially adversely affect ourfinancial condition, ourability to raiseadditional capitalto

fund ouroperations, ourability to operate ourbusiness, ourability to reacttochanges in theeconomy or ourindustry, ourability

to meet ourobligations under ouroutstanding indebtedness andcould divertour cash flow from operations fordebtpayments.

We have asubsta nt ialamount of debt,which requiressignificantinterestand principalpayments. As of December 31, 2023, we had

$627.1 millionofindebtedness outstanding. Subject to thelimitscontainedinthe Credit Agreement(as definedherein) that governs

our credit facilities, we maybeabletoincur substantialadditionaldebtfromtime to time to financeworking capital, capital

expenditures, investmentsoracquisitions,orfor otherpurposes.Ifwedoso, therisks relatedtoour high levelofdebtcouldincrease.

Specifically,our high levelofdebtcouldhaveimportant consequences,including thefollowing:

• it maybedifficult forustosatisfy our obligations,including debt servicerequirementsunderour outstanding debt;

• our ability to obtainadditionalfinancing forworking capital,capital expenditures, debt servicerequirements, acquisitions

or othergeneral corporatepur poses maybeimpaired;

• asubstantialportionofcashflowfromoperations arerequiredtobededicated to thepayment of principaland interest on

our indebtedness,therefore reducing our ability to useour cashflowtofund our operations,capitalexpenditures, future

businessopportunitiesand otherpurposes;

• we couldbemorevulnerabletoeconomic downturns andadverseindustryconditions andour flexibility to plan for, or react

to,changes in our businessorindustryismorelimited;

• our ability to capitalizeonbusinessopportunitiesand to reacttocompetitivepressures,ascomparedtoour competitors,

maybecompromised due to our high levelofdebtand therestrictivecovenantsinthe Credit Agreementthatgoverns our

credit facilities;

• our ability to borrowadditionalfunds or to refinancedebtmay be limited; and

• it maycause potential or existingservice providers to not contract with us due to concerns overour ability to meet our

financialobligations undersuchcontracts.

We areaholding company, andour consolidated assets areowned by, andour businessisconductedthrough, our subsidiaries.

Revenue from thesesubsidiaries is our primarysource of funds fordebtpaymentsand operatingexpenses.Ifour subsidiaries are

restricted frommakingdistributions to us,our ability to meet our debt serviceobligations or otherwisefund our operations maybe

impaired. Moreover,there mayberestrictions on payments by subsidiaries to theirparentcompanies underapplicable laws,including

laws that require companiestomaintainminimumamountsofcapital andtomakepaymentstostockholders onlyfromprofits.Asa

result, although asubsidiary of oursmay have cash, we maynot be able to obtainthatcashtosatisfy our obligationtoservice our

outstanding debt or fund our operations.

Ourabilitytomakescheduled payments on andtorefinance our indebtedness depends on andissubjecttoour financialand operating

performance,which in turn is affected by generaland regionaleconomic,financial,competitive,businessand otherfactorsand

reimbursement actions of governmental andcommercialpayers, allofwhich arebeyond our control, including theavailability of

financinginthe internationalbanking andcapital markets. We cannot assure you that our businesswillgeneratesufficientcashflow

fromoperations or that future borrowings will be availabletousinanamount sufficienttoenableustoservice our debt,torefinance

our debt or to fund our otherliquidity needs. Anyrefinancing or restructuringofour indebtedness couldbeathigherinterestrates and

mayrequire us to comply with more onerous covenantsthatcould furtherrestrictour businessoperations.Moreover, in theevent of a

default, theholders of our indebtedness couldelect to declaresuchindebtedness to be due andpayable and/or electtoexerciseother

rights, such as thelenders underour RevolvingCreditFacility terminatingtheir commitmentsthereunderand ceasingtomakefurther

loansorthe lenders underour Senior SecuredCreditFacilitiesinstituting foreclosureproceedings againsttheir collateral, anyofwhich

couldmateriallyadverselyaffectour results of operations andfinancial condition.

Furthermore, allofthe debt underour credit facilitiesbears interest at variable rates. We have recently experienced higherinterest

expenseonour credit facilitiesdue to interest rate increases and, if interest ratescontinue to increase,our debt serviceobligations on

our credit facilitieswouldfurther increase even though theamount borrowedremainedthe same,especially if our hedging strategies

do not effectivelymitigatethe effectsofthese increases,and our netincomeand cashflows,including cashavailablefor servicingour

indebtedness,wouldcorrespondinglydecrease.

Certainofour debt agreements imposesignificant operating andfinancial restrictions on us andour subsidiaries,which may

preventusfromcapitalizing on business opportunities.

TheCreditAgreementthatgovernsour Senior SecuredCreditFacilitiesimposes significant operating andfinancial restrictions on us.

Theserestrictions will limit our ability and/or theability of our subsidiaries to,among otherthings:incur or guarantee additionaldebt

or issuedisqualifiedstock or preferredstock;pay dividends andmakeother distributions on, or redeem or repurchase, capitalstock;

make certaininvestments; incurcertain liens; enterintotransactions with affiliates; andmerge or consolidate.

Furthermore, if our borrowings underthe Revolving Credit Facility exceed certainthresholds,the Credit Agreementrequiresone of

our subsidiaries to maintain,asofthe last dayofeachfour fiscal quarter periods,amaximumconsolidated firstliennet leverage ratio

of 5.75 to 1.00 (subjecttocustomary equity cure rights).Asaresult of theserestrictions,weare limited as to how we conductour

businessand we maybeunabletoraise additionaldebtorequity financingtocompete effectivelyortotakeadvantageofnew business

opportunities.The termsofany future indebtedness we mayincur couldinclude similarormorerestrictive covenants. We cannot

assure you that we will be able to maintain compliancewith thesecovenantsinthe future and, if we fail to do so,thatwewill be able

to obtainwaivers fromthe lenders and/or amendthe covenants. Ourfailure to comply with therestrictive or financialcovenants

describedabove as well as theterms of anyfutureindebtedness couldresultinanevent of default, which, if not curedorwaived,

couldresultinusbeing required to repaythese borrowings before theirdue date.Ifweare forced to refinancethese borrowings on less

favorable termsorare unabletorefinance theseborrowings,our results of operations andfinancial conditioncouldbematerially

adverselyaffected.

RisksRelated to OurOrganizationalStructure

Bumble Inc. is aholding companyand itsonlymaterialassetisits interest in Bumble Holdings,and it is accordinglydependent

upon distributions from Bumble Holdings to pay taxes, make paymentsunder thetax receivableagreement andpay dividends.

Bumble Inc. is aholding companyand hasnomaterialassets otherthanits ownershipofCommonUnits.BumbleInc.has no

independent meansofgeneratingrevenue.BumbleInc.has causedand intends to continue to cause Bumble Holdings to make

distributions to holders of its CommonUnits,including Bumble Inc. andour Pre-IPOCommonUnitholders,and IncentiveUnits in an

amount sufficienttocover allapplicable taxesatassumed taxrates,paymentsunderthe taxreceivableagreementand dividends,if

any, declared by it. Deteriorationinthe financialcondition, earnings or cashflowofBumbleHoldings andits subsidiaries forany

reason couldlimitorimpairtheir ability to paysuchdistributions.Additionally, to theextentthatBumbleInc.needsfunds,and

Bumble Holdings is restricted frommakingsuchdistributions underapplicable laworregulationorunderthe termsofour financing

arrangements, or is otherwiseunabletoprovide such funds,suchrestriction couldmaterially adverselyaffect our liquidity and

financialcondition.

We anticipate that Bumble Holdings will continue to be treatedasapartnershipfor U.S. federalincometax purposes and, as such,

generallywill not be subject to anyentity-level U.S. federalincometax.Instead,taxable income or loss is allocated to holders of

CommonUnits,including us,and Incentive Units.Accordingly, we arerequiredtopay income taxesonour allocable shareofany net

taxableincomeofBumbleHoldings.Legislationthatiseffectivefor taxableyearsbeginning afterDecember31, 2017 mayimpute

liability foradjustments to apartnership’s taxreturntothe partnershipitselfincertain circumstances, absent an electiontothe

contrary.BumbleHoldings maybesubject to material liabilities pursuanttothislegislationand relatedguidanceif, forexample,its

calculations of taxableincomeare incorrect.Inaddition, theincometaxes on our allocable shareofBumbleHolding’snet taxable

income will increase overtime as our Pre-IPOCommonUnitholders and/or Incentive Unitholders exchange theirCommonUnits

(including CommonUnits issued upon conversionofvestedIncentiveUnits)for shares of our ClassAcommon stock. Such increase

in our taxexpenses mayhaveamaterialadverseeffect on our business, resultsofoperations,and financialcondition.

Underthe termsofthe amendedand restated limitedpartnership agreement, Bumble Holdings is obligated to make taxdistributions to

holders of Common Units, including us,and Incentive Units at certainassumedtax rates. Thesetax distributions mayincertain

periods exceed our taxliabilitiesand obligations to make payments underthe taxreceivable agreement. OurBoard of Directors, in its

sole discretion, will make anydetermination fromtimetotimewith respect to theuse of anysuchexcesscashsoaccumulated,which

mayinclude,among otheruses, funding repurchases of ClassAcommonstock;acquiring additionalnewly issued Common Units

fromBumbleHoldings at aper unitprice determined by referencetothe market valueofthe ClassAcommonstock;paying

dividends,which mayinclude specialdividends,onits ClassAcommon stock; or anycombinationofthe foregoing. We will have no

obligationtodistributesuchcash(or otheravailable cash otherthanany declared dividend) to our stockholders.Tothe extent that we

do not distributesuchexcesscashasdividends on our ClassAcommon stockorotherwise undertakeameliorativeactions between

CommonUnits,IncentiveUnits andsharesofClass Acommonstock andinstead,for example, holdsuchcashbalances,holders of

our CommonUnits (other than Bumble Inc.)and IncentiveUnits maybenefit fromany valueattributable to such cashbalancesasa

result of theirownership of ClassAcommonstock followingaredemption or exchange of theirCommonUnits,notwithstanding that

such holders of our Common Units(otherthanBumbleInc.) andIncentive Units maypreviously have participated as holders of

CommonUnits andIncentiveUnits in distributions by Bumble Holdings that resultedinsuchexcesscashbalancesatBumbleInc.

Payments of dividends,ifany,will be at thediscretionofour BoardofDirectorsafter taking into account various factors,including

our business, operatingresults andfinancial condition, currentand anticipatedcashneeds, plansfor expansionand anylegal or

contractuallimitations on our ability to paydividends.Our existingSeniorSecuredCreditFacilitiesinclude,and anyfinancing

arrangement that we en terintointhe future mayinclude,restrictive covenantsthatlimitour abilitytopay dividends.Inaddition,

Bumble Holdings is generally prohibitedunderDelawarelaw frommakingadistributiontoalimitedpartner to theextentthat, at the

timeofthe distribution, aftergivingeffect to thedistribution, liabilities of Bumble Holdings (with certainexceptions)exceed thefair

valueofits assets.Subs idiaries of Bumble Holdings aregenerally subject to similarlegal limitations on theirability to make

distributions to Bumble Holdings.

Bumble Inc. will be required to pay certainofour pre-IPOownersfor most of thebenefits relating to taxdepreciationor

amortizationdeductions that we mayclaim as aresultofBumbleInc.’sallocableshare of existing taxbasis acquired in theIPO,

Bumble Inc.’s increase in itsallocableshare of existingtax basis andanticipated taxbasis adjustmentswereceiveinconnection

with salesorexchanges of CommonUnits (including Common Unitsissuedupon conversion of vestedIncentive Units)in

connectionwithorafter theIPO andour utilization of certaintax attributes of theBlocker Companies.

We enteredintoataxreceivableagreementwith certain of our pre-IPOownersthatprovidesfor thepayment by Bumble Inc.tosuch

pre-IPOownersof85% of thebenefits, if any, that Bumble Inc. realizes,orisdeemed to realize(calculated usingcertain

assumptions), as aresultof(i) Bumble Inc.’s allocable shareofexistingtax basisacquiredinthe IPO, (ii) increases in Bumble Inc.’s

allocableshare of existing taxbasis andadjustments to thetax basisofthe tangibleand intangibleassets of Bumble Holdings as a

result of salesorexchangesofCommonUnits (including CommonUnits issued upon conversionofvestedIncentiveUnits)for shares

of ClassAcommonstock in connectionwithorafter theIPO and(iii) Bumble Inc.’s utilizationofcertain taxattributes of theBlocker

Companies(including theBlocker Companies’ allocable shareofexistingtax basis),and (iv) certain othertax benefits relatedto

entering into thetax receivableagreement, including taxbenefitsattributable to payments underthe taxreceivableagreement.The

existingtax basis, increasesinexistingtax basisand taxbasis adjustmentsgenerated overtimemay increase(fortax purposes)the

depreciationand amortizationdeductions availabletoBumbleInc.and, therefore, mayreducethe amount of taxthatBumbleInc.

wouldotherwise be required to payinthe future,although theU.S.InternalRevenue Service(“IRS”) maychallenge allorpartofthe

validityofthattax basis, andacourtcouldsustain such achallenge.Actualtax benefits realized by Bumble Inc. maydifferfromtax

benefits calculated underthe taxreceivableagreementasaresult of theuse of certainassumptions in thetax receivable agreement,

including theuse of an assumedweighted-average stateand localincometax rate to calculatetax benefits.

Thepayment obligationunderthe taxreceivableagreementisanobligationofBumbleInc.and not of Bumble Holdings.While the

amount of existingtax basisand anticipated taxbasis adjustmentsand utilizationoftax attributes,aswellasthe amount andtimingof

anypaymentsunderthe taxreceivableagreement, will vary depending upon anumberoffactors, we expect thepaymentsthatBumble

Inc. maymakeunderthe taxreceivableagreementwillbesubstantial. Theactualamountspayable will depend upon, among other

things,the timingofpurchases or exchanges, theprice of shares of our ClassAcommon stockatthe time of such purchases or

exchanges, theextenttowhich such purchases or exchangesare taxableand theamount andtimingofour taxableincome. The

payments underthe taxrecei vableagreement arenot conditionedupon continuedownership of us by thepre-IPOowners. For

additionalinformation see“—Incertain cases,paymentsunderthe taxreceivableagreement maybeaccelerated and/or significantly

exceedthe actualbenefits Bumble Inc. realizes in respect of thetax attributes subject to thetax receivableagreement.”,“Item 7—

Management’s Discussion andAnalysisofFinancial Conditionand Results of Operations—ContractualObligations and

Contingencies” andNote5,PayabletoRelated PartiesPursuant to aTax ReceivableAgreement,toour consolidated financial

statements includedinPartII, “Item8—Financial Statements andSupplementary Data”ofthisAnnualReport.

In certain cases, paymentsunder thetax receivableagreementmay be acceleratedand/orsignificantly exceed theactualbenefits

Bumble Inc. realizes in respect of thetax attributes subjecttothe taxreceivableagreement.

Bumble Inc.’s paymentobligations underthe taxreceivableagreementwillbeacceleratedinthe eventofcertain changesofcontrol,

upon abreachbyBumbleInc.ofamaterial obligationunderthe taxreceivableagreement or if Bumble Inc. electstoterminatethe tax

receivableagreement early.The accelerated payments requiredinsuchcircumstances will be calculatedbyreference to thepresent

value(at adiscount rate equaltothe lesser of (i)6.5% perannum and(ii) theSecuredOvernight FinancingRateplus100 basispoints)

of allfuturepaymentsthatholders of CommonUnits or otherrecipientswouldhavebeen entitledtoreceiveunderthe taxreceivable

agreement, andsuchaccelerated payments andany otherfuturepaymentsunderthe taxreceivableagreement will utilizecertain

valuationassumptions,including that Bumble Inc. will have sufficient taxableincometofully utilize thedeductions arisingfrom the

increasedtax deductions andtax basisand otherbenefits relatedtoenteringintothe taxreceivableagreementand sufficienttaxable

income to fully utilizeany remainingnet operatinglossessubjecttothe taxreceivable agreementonastraight linebasis overthe

shorterofthe statutoryexpiration period forsuchnet operatinglossesorthe five-yearperiodafter theearly terminationorchange of

control. In addition, recipients of payments underthe taxreceivable agreementwill notreimburse us forany payments previously

made underthe taxreceivable agreementifthe taxattributes or Bumble Inc.’s utilizationoftax attributes underlying therelevanttax

receivableagreement paymentare successfully challengedbythe IRS(although anysuchdetriment wouldbetaken into account as an

offset againstfuturepaymentsdue to therelevantrecipientunderthe taxreceivableagreement).BumbleInc.’sability to achieve

benefits from anyexistingtax basis, taxbasis adjustmentsorother taxattributes,and thepaymentstobemadeunderthe taxreceivable

agreementwill depend upon anumberoffactors,including thetimingand amount of our future income.Asaresult,eveninthe

absenceofachange of controloranelectiontoterminate thetax receivableagreementearly,paymentsunderthe taxreceivable

agreementcouldbeinexcessof85% of Bumble Inc.’s actual cashtax benefits.

Accordingly, it is possiblethatthe actual cashtax benefits realized by Bumble Inc. maybesignificantly less than thecorresponding

taxreceivableagreementpayments. It is also possiblethatpaymentsunderthe taxreceivable agreementmay be made yearsin

advanceofthe actualrealization, if any, of theanticipated future taxbenefits.There maybeamaterialnegativeeffect on our liquidity

if thepaymentsunderthe taxreceivableagreementexceed theactualcashtax benefits that Bumble Inc. realizes in respectofthe tax

attributes subject to thetax receivable agreementand/or if distributions to Bumble Inc. by Bumble Holdings arenot sufficientto

permit Bumble Inc. to make payments underthe taxreceivable agreementafter it haspaidtaxes andother expenses.Based upon

certain assumptions,weestimate that if Bumble Inc. hadexercised its terminationright as of December31, 2023, theaggregate

amount of theearly terminationpaymentsbeforeapplicationofthe discount rate requiredunderthe taxreceivableagreementwould

have been approximately $935.3 million. Theforegoing numberismerelyanestimateand theactualpaymentscoulddiffermaterially.

We mayneed to incuradditionalindebtedness to financepaymentsunderthe taxreceivableagreementtothe extent our cashresources

areinsuffici enttomeetour obligations underthe taxreceivableagreementasaresult of timingdiscrepancies or otherwise, andthese

obligations couldhavethe effect of delaying, deferring or preventingcertain mergers, assetsales,other formsofbusiness

combinations or othercha ngesofcontrol.

Theaccelerationofpaymentsunder thetax receivable agreementinthe case of certain changesofcontrol mayimpairour ability

to consummate change of controltransactions or negativelyimpactthe valuereceived by owners of ourClass Acommonstock.

In thecaseofcertain changesofcontrol, payments underthe taxreceivableagreementwillbeacceleratedand maysignificantly

exceedthe actualbenefits Bumble Inc. realizes in respect of thetax attributes subject to thetax receivableagreement.Weexpect that

thepaymentsthatwemay make underthe taxreceivableagreement in theevent of achange of controlwill be substantial. As aresult,

our acceleratedpayment obligations and/or theassumptions adopted underthe taxreceivableagreementinthe case of achange of

controlmay impairour ability to consummate change of controltransactions or negativelyimpact thevalue receivedbyownersofour

ClassAcommonstock in achange of controltransaction.

RisksRelated to Ownershipofour ClassACommonStock

OurPrincipal Stockholderscontrol us andtheir interestsmay conflict with ours or yoursinthe future.

As of thedateofthisAnnualReport, our PrincipalStockholders beneficially ownapproximately 89% of thecombinedvotingpower

of our ClassAandClass Bcommonstock.Moreover, we nominatetoour Boardindividuals designatedbyour PrincipalStockholders

in accordance with thestockholders agreement. OurPrincipal Stockholders have theright to designate directorssubject to the

maintenanceofcertain ownershiprequirementsinus. Even when our PrincipalStockholders cease to ownsharesofour stock

representing amajorityofthe totalvotingpower,for so long as our PrincipalStockholders continue to ownasignificantpercentageof

our stock, they will still be able to significantly influenceoreffectivelycontrolthe composition of our BoardofDirectorsand the

approvalofactions requiringstockholderapprovalthrough theirvotingpower.Accordingly, forsuchperiodoftime, our Principal

Stockholders will have significant influencewithrespect to our management,busin essplans andpolicies, including theappointment

andremovalofour officers. In particular,for so long as our Sponsor continuestoown asignificantpercentageofour stock, our

Sponsor will be able to cause or preventachange of controlofour companyorachange in thecompositionofour BoardofDirectors

andcouldpreclude anyunsolicitedacquisitionofour company. Theconcentrationofownership coulddeprive you of an opportunity

to receiveapremium foryour shares of ClassAcommonstock as part of asaleofour companyand ultimately might affect themarket

priceofour ClassAcommon stock.

In addition, as of thedateofthisAnnualReport, thePre-IPOCommonUnitholders (which include ourSponsor andour Founder) own

approximately 27% of theCommonUnits.Because they holdtheir ownershipinterestinour businessdirectly in Bumble Holdings,

rather than through Bumble Inc.,the Pre-IPOCommonUnitholders mayhaveconflicting interestswith holdersofsharesofour Class

Acommonstock.For example, if Bumble Holdings makesdistributions to Bumble Inc.,the Pre-IPOCommonUnitholders and

participatingIncentiveUnitholders (asdescribed below) will also be entitled to receive such distributions proratainaccordance with

thepercentages of theirrespectiveCommonUnits or IncentiveUnits,asapplicable,inBumbleHoldings andtheir preferencesasto

thetimingand amount of anysuchdistributions maydifferfromthoseofour public stockholders.Incentive Units arenot entitledto

receive distributions (other than taxdistrib ut ions)until holders of Common Units have receivedaminimum return as providedinthe

amendedand restated limitedpartnership agreementofBumbleHoldings.However,IncentiveUnits have thebenefit of adjustment

provisions that will reducethe participationthresholdfor distributions in respect of whichtheydonot participateuntil thereisno

participationthreshold, at whichtimethe Incentive Units wouldparticipatepro rata with distributions on Common Units.Our pre-IPO

owners mayalsohavedifferent taxpositions fromuswhich couldinfluence theirdecisions regardingwhether andwhentodisposeof

assets,especial ly in light of thetax receivable agreement, whetherand when to incurnew or refinanceexistingindebtedness, and

whetherand when Bumble Inc. shouldterminate thetax receivableagreementand accelerate itsobligations thereunder. In addition,

thestructuring of future transactions maytakeintoconsideration our pre-IPOowners’ taxorother considerations even whereno

similar benefitwouldaccruetous.

Ouramended andrestatedcertificateofincorporationdoesnot limit theability of ourPrincipal Stockholders to competewith us

andtheymay have investmentsinbusinesseswhose interestsconflictwithours.

OurPrincipal Stockholders andtheir respectiveaffiliatesengage in abroad spectrumofactivities, including investmentsinbusinesses

that maycompete with us.Inthe ordinary course of theirbusinessactivities, our PrincipalStockholders andtheir respectiveaffiliates

mayengage in activitieswhere theirinterests conflict with our interestsorthoseofour stockholders.Our amendedand restated

certificateofincorporationprovidesthatnone of our PrincipalStockholders or anyoftheir respectiveaffiliatesorany of our directors

whoare not employedbyus(including anynon-employeedirectorwho serves as one of our officersinbothhis or herdirectorand

officer capacities)orhis or heraffiliateswillhaveany dutytorefrain fromengaging, directly or indirectly,inthe same business

activitiesorsimilar businessactivitiesorlines of businessinwhich we operate.Our PrincipalStockholders andtheir respective

affiliates also maypursueacquisitionopportunitiesthatmay be complementarytoour business, and, as aresult, thoseacquisition

opportunities maynot be availabletous. In addition, our PrincipalStockholders mayhaveaninterestinour pursuingacquisitions,

divestitures andother transactions that,intheir judgment, couldenhancetheir investment,eventhough such transactions might

involve riskstousand our stockholders.

We area“controlledcompany” within themeaning of Nasdaq rulesand,asaresult,wequalifyfor exemptions from certain

corporategovernancerequirements. If we rely on such exemptions in thefuture, youwill nothavethe same protections affordedto

stockholders of companiesthatare subjecttosuchrequirements.

OurPrincipal Stockholders arepartiestoastockholders agreementand, as of thedateofthisAnnualReport, beneficially own

approximately 89% of thecombinedvotingpower of our ClassAandClass Bcommonstock.Asaresult, we area“controlled

company” within themeaning of theNasdaqcorporategovernance standards. Underthese corporategovernance standards, acompany

of whichmorethan50% of thevotingpower in theelectionofdirectorsisheldbyanindividual, group or anothercompany is a

“controlled company” andmay electnot to comply with certain corporategovernance requirements. Forexample,controlled

companies:

(1)are not requiredtohaveaBoardthatiscomposed of amajorityof“independent directors,”asdefined underNasdaqrules;

(2)are not requiredtohaveacompensation committeethatiscomposed entirelyofindependent directors; and

(3)are not requiredtohavedirectornominations be made,orrecommendedtothe full BoardofDirectors,byits independent

directorsorbyanominations committeethatiscomposed entirelyofindependent directors.

Although we do not currently rely on theexemptions fromthese corporategovernance requirements, if we do rely on such exemptions

in thefuture, you will not have thesameprotections afforded to stockholders of companiesthatare subject to allofthe corporate

governance requirementsofNasdaq.

If we fail to maintain effectiveinternalcontrol over financialreporting, ourability to produce timely andaccuratefinancial

statements or comply with applicablelawsand regulations couldbeimpaired.

As apublic company, we aresubject to rulesand regulations establishedbythe SECand Nasdaq.These rulesand regulations require,

among otherthings,thatweestablishand periodically evaluate procedures with respecttoour internal controloverfinancial reporting

pursuanttoSection404 of theSarbanes-OxleyAct.

In ordertomaintainand improvethe effectivenessofour internal controloverfinancial reporting, we have expended, andanticipate

that we will continue to expend, significant resources,including accounting-relatedcosts andsignificantmanagementoversight.Ifwe

identify deficiencies in our internal controloverfinancial reporting or if we areunabletocomplywiththe requirementsapplicable to

us as apublic company, in atimely manneroratall,wemay not be able to accurately reportour financialresults,wemay fail to meet

our reportingobligations within thetimeframesrequiredbythe SEC, we mayhavetorestate our financialstatementsfor priorperiods,

and/or our independent registered public accountingfirmmay not be able to issueanunqualifiedopinion regardingthe effectiveness

of our internal controloverfinancial reportinginthe eventthattheyare not satisfiedwith thelevel at whichour internal control over

financialreportingisdocumented, designed, or operating. If this occurs,wecouldbecome subjecttosanctions or investigations by the

SECorother regulatoryauthorities, or we maynot be able to remain listedonNasdaq. In addition, if we determineorour independent

registered public accountingfirmdetermines we have amaterialweakness in our internal controloverfinancial reporting, this could

have amaterialadverseeffect on our businessand operatingresults,investorsmay lose confidence in theaccuracy andcompleteness

of our financialreports,wemay face restricted accesstocapital markets, andthe market pricefor our ClassAcommonstock maybe

adverselyaffected.

Ourdualclass structuremay have an impactonthe market priceofour ClassAcommonstock.

Ourdualclass structuremay result in alower or more volatile market priceofour ClassAcommon stock, in adversepublicity or

otheradverseconsequences.Certain indexproviders have in thepastannounced restrictions on including companieswithmultiple

classshare structures in certain of theirindices. Giventhe sustainedflowofinvestment funds into passive strategies that seek to track

certain indices,exclusion fromstock indices wouldlikelypreclude investment by many of thesefunds andcouldmakeour ClassA

commonstock less attractivetoother investors. As aresult, themarketprice of our ClassAcommon stockcouldbematerially

adverselyaffected.

Theoutsizedvotingrightsofour Principal Stockholders have theeffect of concentratingvotingcontrol with ourPrincipal

Stockholders, limit or preclude your ability to influencecorporatematters an dmay have apotentialadverse effect on theprice of

ourClass Acommonstock.

In general, each shareofour ClassAcommonstock entitles its holdertoone voteonall matters on whichstockholders of Bumble Inc.

areentitledtovotegenerally.SharesofClass Bcommonstock have no economic rightsbut each sharegenerally entitleseach holder,

without regard to thenumberofsharesofClass Bcommonstock held by such holder, to anumberofvotes that is equaltothe

aggregatenumberofCommonUnits held by such holderonall matters on whichstockholders of Bumble Inc. areentitledtovote

generally. Holdersofsharesofour ClassBcommonstock votetogether with holders of our ClassAcommonstock as asingleclass

on allmatters on whichstockholders areentitledtovotegenerally,exceptasotherwise requiredbylaw.Notwithstanding the

foregoing, unlesstheyelect otherwise, each of our PrincipalStockholders is entitledtooutsizedvotingrightsasfollows.Until the

High Vote TerminationDate, each shareofClass Acommonstock held by aPrincipal StockholderentitlessuchPrincipal Stockholder

to tenvotes andeach PrincipalStockholderthatholds ClassBcommonstock is entitled,without regard to thenumberofsharesof

ClassBcommonstock held by such PrincipalStockholder, to anumberofvotes equalto10timesthe aggregatenumberofCommon

Units (including CommonUnits issued upon conversionofvestedIncentiveUnits)ofBumbleHoldings held by such Principal

Stockholder. In addition, if,atany time,our Founderisneither an employeenor adirector,any ClassAcommonstock or ClassB

commonstock held by our Founderwill be entitledtoone voteper share(in thecaseofthe ClassAcommon stock) or anumberof

votes that is equaltothe aggregatenumberofCommonUnits (including CommonUnits issued upon conversionofvestedIncentive

Units)ofBumbleHoldings held by our Founder(in thecaseofthe ClassBcommonstock), in each case on allmatters on which

stockholders of Bumble Inc. areentitledtovotegenerally.The differenceinvotingrightssubjectustonumerous risksthatcould

adverselyaffect thevalue of our ClassAcommonstock by, forexample,delayingordeferring achange of controlorifinvestors

view,orany potentialfuturepurchaser of our companyviews ,the superior votingrightsofour PrincipalStockholders to have value.

Because of theten-to-onevotingratio betweenour ClassAandClass Bcommonstock held by our PrincipalStockholders,onthe one

hand, andClass Aand ClassBcommonstock held by individuals otherthanour PrincipalStockholders,onthe otherhand, the

PrincipalStockholders collectivelycontrolamajority of thecombinedvotingpower of our commonstock andtherefore areableto

controlall matterssubmittedtoour shareholders.Thisconcentrated controllimits or precludesthe ability of otherholders of ClassA

commonstock to influencecorporatematters forthe foreseeablefuture, which, in turn increasesthe risk of divergentviews over

strategy or businesscombinationand an increased risk of conflict or litigationcausedbysuchdivergent views.

In addition, anysharesofClass Acommonstock or Common Units purchased or otherwiseacquiredbythe PrincipalStockholders

afterthe IPOwouldalsoentitlethe PrincipalStockholders to outsized votingrightsuntil theHighVoteTerminationDate.

Consequently,the votingpower of our PrincipalStockholders,and thedisparity between thevotingpower held by our Principal

Stockholders andthe leveloftheir economic interest,wouldincreaseiftheyacquiredadditionalsharesofClass Acommonstock or

CommonUnits afterthe IPO. Moreover, our PrincipalStockholders wouldretainthisdisparate votingpower even if they have

engagedinhedging or othertransactions that have offset theireconomic exposure. Further, our votingstructure poses ariskthateven

if our PrincipalStockholdersholdrelativelysmall economic interests, priortothe High Vote TerminationDatetheycouldpotentially

usetheir outsized votingcontrol to approve furtherchanges in governance to thedetriment of non-controllingholde rs of ClassA

commonstock,which couldresultindelistingunderNasdaqlistingrequirements, resultinginreduced liquidity andlossofvalue for

investors.

Youmay be dilutedbythe future issuance of additional ClassAcommonstock or CommonUnits in connectionwith ourincentive

plans, acquisitions or otherwise.

As of January 31, 2024, we have 5,763,263,715 shares of ClassAcommonstock authorized but unissued, including 48,244,492 shares

of ClassAcommonstock issuable upon exchange of Common Units that areheldbythe Pre-IPOCommonUnitholders.Our

certificateofincorporationauthorizes us to issuethese shares of ClassAcommonstock andoptions,rights, warrantsand appreciation

rightsrelatingtoClass Acommonstock forthe considerationand on theterms andconditions establishedbyour BoardofDirectorsin

its sole discretion, whetherinconnectionwith acquisitions or otherwise. Similarly, theamendedand restated limitedpartnership

agreementofBumbleHoldings permits Bumble Holdings to issueanunlimited numberofadditionallimitedpartnership interestsof

Bumble Holdings with designations,preferences,rights, powersand dutiesthatare different from, andmay be senior to,those

applicable to theCommonUnits,and whichmay be exchangeable forsharesofour ClassAcommonstock.Additionally,wehave

reserved an aggregateof41,729,650 shares of ClassAcommon stockorCommonUnits forissuance underour Omnibus Incentive

Plan,including shares of ClassAcommonstock issuable following vestingand upon exchange for8,438,669 as-converted Incentive

Units held by theIncentiveUnitholders with aweighted averageparticipationthresholdof$13.44 perunit. Thereare also 4,500,000

shares of ClassAcommonstock reserved forissuance underour 2021 EmployeeStock Purchase Plan (“ESPP”).Any ClassA

commonstock that we issue, including underour Omnibus Incentive Plan,our ESPP or otherequity incentiveplans that we mayadopt

in thefuture, woulddilute thepercentage ownershipheldbyinvestorswho purchaseClass Acommonstock.

We mayissuepreferredstock whoseterms couldmaterially adversely affect thevotingpower or valueofour ClassAcommon

stock.

Ouramendedand restated certificateofincorporationauthorizes us to issue, without theapprovalofour stockholders,one or more

classesorseriesofpreferred stockhavingsuchdesignations,preferences,limitations andrelativerights, including preferences over

our ClassAcommonstock respectingdividends anddistributions,asour BoardofDirectors maydetermine.The termsofone or more

classesorseriesofpreferred stockcould adverselyimpact thevotingpower or valueofour ClassAcommon stock. Forexample,we

might grantholders of preferredstock theright to elect some numberofour directorsinall events or on thehappening of specified

events or theright to veto specifiedtransactions.Similarly, therepurchaseorredemptionrightsorliquidationpreferences we might

assign to holders of preferredstock couldaffect theresidualvalue of theClass Acommonstock.

If we or ourpre-IPO owners sell additional shares of ourClass Acommonstock or areperceived by thepublicmarkets as

intendingtosellthem, the market priceofour ClassAcommonstock coulddecline.

Thesaleofsubstantialamountsofsharesofour ClassAcommonstock in thepublic market,orthe perception that such salescould

occur, couldharmthe prevailingmarketprice of shares of our ClassAcommonstock.These sales, or thepossibility that thesesales

mayoccur,alsomight make it more difficult forustosellsharesofour ClassAcommon stockinthe future at atimeand at aprice

that we deem appropriate.Inaddition, our Sponsor haspledgedsubstantiallyall of thesharesofour ClassAcommon stockheldbyit

pursuanttoamargin loan agreementand anyforeclosureupon thosesharescouldresultinsales of asubstantialnumberofsharesof

our ClassAcommonstock in thepublic market,which couldsubstantially decreasethe market priceofour ClassAcommon stock.

As of January 31, 2024, we have atotal of 129,422,501 shares of our ClassAcommonstock outstanding. Of theseshares, 95,985,598

shares of our ClassAcommonstock were freelytradablewithout restrictionorfurther registrationunderthe SecuritiesAct of 1933, as

amended(the“Securities Act”), by persons otherthanour “affiliates,”asthattermisdefined underRule144 of theSecuritiesAct.

In addition, we andthe holders of our Common Units have enteredintoanexchange agreementunderwhich they (orcertain permitted

transferees) have theright to exchange theirCommonUnits (including CommonUnits issued upon conversionofvestedIncentive

Units)for shares of our ClassAcommonstock on aone-for-one basis, subject to customaryconversionrateadjustments.Subject to

theterms of theexchange agreement, an aggregateof48,244,492 Common Units maybeexchangedfor shares of our ClassA

commonstock.Any shares we issueupon exchange of CommonUnits will be “restrictedsecurities” as definedinRule144 andmay

not be sold in theabsence of registrationunderthe SecuritiesAct unlessanexemptionfromregistrationisavailable, including the

exemptions containedinRule144. Underapplicable SECguidance, we believe that forpurposes of Rule 144 theholding period in

such shares will generally include theholding period in thecorresponding Common Units exchanged.

Subject to certain limitations andexceptions,pursuanttothe termsofthe amendedand restated limitedpartnership agreementof

Bumble Holdings,the IncentiveUnitholders,which hold8,438,669 IncentiveUnits as of January 31, 2024, whichhaveaweighted-

averageper unitparticipationthresholdof$13.44 perIncentiveUnit, will have theright to convert theirvestedIncentiveUnits into

CommonUnits of Bumble Holdings.CommonUnits received upon conversionwill be exchangeable on aone-for-one basisfor shares

of ClassAcommonstock of Bumble Inc. in accordance with theterms of theexchange agreement. Assuming such IncentiveUnits are

fully vested,asofJanuary 31, 2024, 314,450 shares of ClassAcommonstock wouldbeissuableupon theexchange of an equivalent

numberofCommonUnits into whichoutstanding IncentiveUnits (assumingsuchIncentiveUnits areconverted to CommonUnits)

that areheldbythe IncentiveUnitholders maybeconverted.The deliveryofsharesofClass Acommonstock upon exchange of

CommonUnits received in conversionofIncentiveUnits hasbeenregisteredpursuanttoaregistration statementonFormS-8.

Allofsuchshareswill be eligible forresaleinthe public market,subject,inthe caseofsharesheldbyour affiliates, to volume,

mannerofsaleand otherlimitations underRule144. We expect that our Sponsor will continue to be considered an affiliatebased on

its expected shareownership andits board nominationrights. Certainother of our stockholders mayalsobeconsidered affiliates at the

timeoftheir sale of shares of ourClass Acommonstock.However,the holders of thesesharesofClass Acommonstock will have the

right,subjecttocertain exceptions andconditions,torequire us to register theirsharesofClass Acommonstock underthe Securities

Act, andtheywill have theright to participateinfutureregistrations of securitiesbyus. Registration of anyofthese outstanding shares

of ClassAcommonstock wouldresultinsuchsharesbecoming freelytradablewithout compliancewith Rule 144 upon effectiveness

of theregistrationstatement.

We have filedaregistration statementonFormS-8 underthe SecuritiesAct to register shares of our ClassAcommonstock or

securities convertible into or exchangeable forsharesofour ClassAcommonstock issued pursuanttoour Omnibus Incentive Plan

andour ESPP. Accordingly, shares registered undersuchregistrationstateme nt swill be availablefor sale in theopenmarket.

In thefuture, we mayalsoissueour securities in connectionwith investmentsoracquisitions.The amount of shares of our ClassA

commonstock issued in connectionwith an investment or acquisition couldconstituteamaterialportionofour then outstanding

shares of ClassAcommonstock.Asrestrictions on resale end, themarketprice of our shares of commonstock coulddrop

significantly if theholders of theserestrictedsharessellthemorare perceivedbythe market as intending to sell them.These factors

couldalsomakeitmoredifficult forustoraise additionalfunds through future offerings of our ClassAcommonstock or other

securities or to useour ClassAcommonstock as considerationfor acquisitions of otherbusinesses, investmentsorother corporate

purposes.

Anti-takeover provisions in ourorganizationaldocuments andDelawarelaw might discourage or delayacquisition attempts forus

that youmight consider favorable.

Ouramendedand restated certificateofincorporationand amendedand restated bylawscontainprovisions that maymakethe merger

or acquisition of our companymoredifficult without theapprovalofour BoardofDirectors. Among otherthings,these provisions:

• provide that our BoardofDirectors will be dividedintothree classes, as nearly equalinsizeaspossible, with directorsin

each classserving three-year termsand with termsofthe directorsofonlyone classexpiring in anygiven year;

• provide forthe removalofdirectors onlyfor cause andonlyupon theaffirmativevoteofthe holders of at least66

⁄

%in

votingpower of theoutstanding shares of our capital stockentitled to vote,ifour PrincipalStockholders andour Co-

Investor beneficially ownlessthan30% of thetotal votingpower of allthenoutstanding shares of our capital stockentitled

to votegenerally in theelectionofdirectorsand provide that specified directorsdesignatedpursuanttothe stockholders

agreementmay not be removedwithout causewithout theconsentofthe specified designatingparty;

• provide that subject to therightsofthe holders of anypreferredstock andthe rightsgranted pursuant to thestockholders

agreement, vacancies and newlycreated directorshipsmay be filledonlybythe remainingdirectorsatany time the

PrincipalStockholders andour Co-Investor beneficially ownlessthan30% of thetotal votingpower of allthenoutstanding

shares of our capital stockentitledtovotegenerally in theelectionofdirectors;

• wouldallowustoauthorizethe issuance of shares of one or more series of preferredstock,including in connectionwitha

stockholderrightsplan, financingtransactions or otherwise, theterms of whichseriesmay be establishedand thesharesof

whichmay be issued without stockholderapproval, andwhich mayinclude supervoting, specialapproval, dividend, or

otherrightsorpreferences superior to therightsofthe holders of commonstock;

• prohibitstockholderactionbywrittenconsent fromand afterthe date on whichour PrincipalStockholders andour Co-

Investor beneficially ownatleast30% of thetotal votingpower of allthenoutstanding shares of our capitalstock entitled to

votegenerally in theelectionofdirectorsunlesssuchactionisrecommendedbyall directorstheninoffice;

• provide forcertain limitations on convening special stockholdermeetings;

• provide that theBoard of Directorsisexpressly authorized to make,alter,orrepeal our bylawsand that our stockholders

mayonlyamend our bylawswith theapprovalof66

⁄

%ormoreofall of theoutstanding shares of our capitalstock entitled

to vote, if our PrincipalStockholders andour Co-Investorbeneficially ownlessthan30% of thetotal votingpower of all

then outstanding shares of our capitalstock entitledtovotegenerally in theelectionofdirectors;

• provide that certain provisions of our amendedand restated certificateofincorporationmay be amendedonlybythe

affirmativevoteofthe holders of at least66

⁄

%invotingpower of theoutstanding shares of our capitalstock entitledto

vote, if our PrincipalStockholders andour Co-Investor beneficially ownlessthan30% of thetotal votingpower of allthen

outstanding shares of our capitalstock entitled to votegenerally in theelectionofdirectors; and

• establishadvancenoticerequirementsfor nominations forelections to our Boardorfor proposingmatters that canbeacted

upon by stockholders at stockholdermeetings.

Further, as aDelawarecorporation, we arealsosubject to provisions of Delaware law, whichmay impedeordiscourageatakeover

attemptthatour stockholdersmay find beneficial.These anti-takeoverprovisions andother provisions underDelawarelaw could

discourage, delayorprevent atransactioninvolving achange in controlofour company, including actions that our stockholders may

deem advantageous,ornegativelyaffectthe tradingprice of our ClassAcommonstock.These provisions couldalsodiscourageproxy

contests andmakeitmoredifficult foryou andother stockholders to elect directorsofyour choosingand to causeustotakeother

corporateactions you desire.

Ouramended andrestatedcertificateofincorporationdesignatesthe CourtofChanceryofthe StateofDelawareorthe federal

district courts of theUnitedStatesofAmerica,asapplicable, as thesoleand exclusiveforum forcertain typesofactions and

proceedings that maybeinitiatedbyour stockholders, whichcould limit ourstockholders’ ability to obtainafavorablejudicial

forumfor disputes with theCompanyorthe Company’sdirectors,officersorother employees.

Ouramendedand restated certificateofincorporationprovidesthat, unlessweconsenttothe selectionofanalternativeforum,the

CourtofChanceryofthe StateofDelawarewill, to thefullest extent permitted by law, be thesoleand exclusiveforum for: (i)any

derivative actionorproceedingbrought on our behalf;(ii) anyactionassertingabreach of fiduciary dutyowedbyany currentor

former director,officer,stockholder or employeeofthe Companytothe Companyorour stockholders;(iii) anyactionassertinga

claimagainst us arisingunderthe Delaware GeneralCorporationLaw (the “DGCL”), our certificateofincorporationorour bylawsor

as to whichthe DGCL confersjurisdictiononthe CourtofChanceryofthe StateofDelaware; or (iv) anyactionassertingaclaim

againstusthatisgoverned by theinternalaffairsdoctrine.

Ouramendedand restated certificateofincorporationfurther providesthat, unlessweconsentinwritingtothe selectionofan

alternativeforum,tothe fullest extent permittedbylaw,the federaldistrictcourts of theUnitedStatesofAmerica will be the

exclusiveforum forthe resolution of anycomplaint assertingacauseofactionarising underthe federalsecuritieslawsofthe United

States,including, in each case, theapplicable rulesand regulations promulgatedthereunder.

Anypersonorentity purchasingorotherwise acquiring anyinterestinany shares of our capital stockshall be deemed to have notice

of andtohaveconsentedtothe forum provision in our amendedand restated certificateofincorporation. This choice-of-forum

provision maylimitastockholder’s abilitytobring aclaim in adifferent judicial forum, including one that it mayfindfavorable or

convenientfor aspecified classofdisputes with theCompany or theCompany’sdirectors,officers, otherstockholders or employees,

whichmay discouragesuchlawsuits.Alternatively, if acourtweretofindthisprovision of our amendedand restated certificateof

incorporationinapplicable or unenforceablewith respect to one or more of thespecified typesofactions or proceedings,wemay incur

additionalcosts associated with resolvingsuchmatters in otherjurisdictions,which couldmateriallyadverselyaffect our business,

financialcondition andresults of operations andresultinadiversionofthe timeand resources of our management andBoard of

Directors.

GeneralRiskFactors

Ourquarterly operatingresults andother operatingmetrics mayfluctuate from quartertoquarter,which makesthese metrics

difficult to predict.

Ourquarterly operatingresults andother operatingmetrics have fluctuated in thepastand maycontinue to fluctuatefromquarter to

quarter,which makesthemdifficult to predict. Ourfinancial condition andoperatingresults in anygiven quarter can be influenced by

numerous factors, many of whichweare unabletopredict or areoutside of our control, including, forexample:

• thetiming, size andeffectivenessofour marketingefforts;

• thetimingand successofnew product, serviceand featureintroductions by us or our competitors or anyother change in the

competitivelandscape of our market;

• fluctuations in therateatwhich we attract newusers,the levelofengagement of such usersand thepropensityofsuchusers

to subscribetoour brands or to purchaseàlacarte features;

• successful expansionintointernationalmarkets;

• errors in our forecastingofthe demand forour products andservices,which couldlead to lowerrevenue or increasedcosts,

or both;

• increasesinsales andmarketing, productdevelopmentorother operatingexpenses that we mayincur to grow andexpand

our operations andtoremaincompetitive;

• thediversificationand growth of our revenuesources;

• our ability to maintain grossmargins andoperating margins;

• fluctuations in currencyexchangerates andchangesinthe proportion of our revenue andexpenses denominated in foreign

currencies;

• changesinour effectivetax rate;

• changesinaccountingstandards, policies, guidance, interpretations,orprinciples;

• our developmentand improvementofthe quality of our appexperiences,including, enhancingexistingand creatingnew

products,services, technology andfeatures;

• thecontinueddevelopmentand upgradingofour technology platform;

• system failures or breaches of security or privacy;

• our ability to obtain, maintain,protect and enforceintellectualpropertyrightsand successfully defend againstclaims of

infringement,misappropriationorother violations of third-partyintellectualproperty;

• adverselitigationjudgments,settlements, or otherlitigation-relatedcosts;

• changesinthe legislativeorregulatoryenvironment, including with respect to privacy,intellectualproperty, consumer

productsafety, andadvertising, or enforcementbygovernment regulators, including fines, orders,orconsentdecrees;

• changesinbusinessormacroeconomic conditions,including theimpactoflower consumer confidence in our businessorin

theonlinedatingand social connectionindustrygenerally,recessionary conditions,inflation, interest rates, increased

unemploymentrates,stagnant or decliningwages,political unrest(whichmay be heightened in aU.S.presidentialelection

year), terrorism, armedconflicts, pandemics or epidemicsornatural disasters; and

• changesinour expected estimatedusefullifeofpropertyand equipmentand intangibleassets.

Anyone of thefactors above or thecumulativeeffectofsomeofthe factorsabove mayresultinsignificantfluctuations in our results

of operations.

Thevariability andunpredictability of our quarterly operatingresults or otheroperatingmetrics couldresultinour failure to meet our

expectations or thoseofanalyststhatcoverusorinvestorswith respecttorevenue or otheroperating resultsfor aparticular period. If

we fail to meet or exceed such expectations,the market priceofour ClassAcommon stockcouldfallsubstantially,and we couldface

costly lawsuits,including securitiesclass actionsuits.

We areexposed to changesinthe global macroeconomic environmentbeyond ourcontrol,which mayadversely affect consumer

discretionary spending,demandfor ourproductsand services,our expenses,and ourability to execute strategicplans.

Ourproducts andservicesmay be considered discretionary itemsfor consumers. Factorsaffectingthe levelofconsumer spending for

such discretionary items include generaleconomic conditions,and otherfactors,suchasconsumer confidence in future economic

conditions,fears of recession, theavailabilityand cost of consumer credit, costsofliving, levels of unemployment, taxrates,interest

ratesand inflationary pressure.Inrecentyears, theUnitedStates, theUnitedKingdom andother significanteconomic marketshave

experienced cyclical downturns andworldwide economic conditions remain uncertain.Asglobaleconomic conditions continue to be

volatileoreconomic uncertainty remains, trends in consumer discretionary spending also remain unpredictableand subject to

reductions.Unfavorable economic conditions mayleadconsumerstodelay or reducepurchases of our products andconsumer demand

forour products maynot grow as we expect.

Fluctuations in inflationhavenegativelyaffected andmay continue to negatively affect our business, financialconditionand resultsof

operations by affectingour expenses,including, but not limitedto, employeecom pensationexpenses.Ifthe inflationrat eincreas es,

our expenses mayalsoincrease. Anyattempts to offset cost increases with priceincreases mayresultinadecreaseinthe numberof

Paying Users, increaseduserdissatisfactionorotherwise harm our reputation. Oursensitivity to economic cycles andany related

fluctuationinconsumer demand forour products andservices couldmaterially adverselyaffect our business, financialcondition, and

results of operations.

In addition, our businesscould be materially adverselyaffected by theoutbreak of awidespread health epidemic or pandemic,suchas

COVID-19. Awidespreadepidemic, pandemic or otherhealth crisis couldalsocause significantvolatility in globalmarkets,reduce

our ability to access capitaland therebynegativelyimpactour liquidity,and disrupt labor marketsand globalsupplychains, andthese

effectsmay have lingering macroeconomic impacts.Ifour businessand themarkets in whichweoperate experience aprolonged

occurrenceofadversepublic health conditions,itcouldmaterially adverselyaffect our ability to execute strategicplans,and

materially adverselyaffect our business,financial condition, andresults of operations.

Foreigncurrencyexchangeratefluctuations couldmateriallyadversely affect ourresults of operations.

We operate in various internationalmarkets.Duringthe year endedDecember31, 2023, 43.2% of our totalrevenueswere

internationalrevenues. We translateinternationa lrevenuesintoU.S.dollar-denominated operatingresults andduringperiods of a

strengthening U.S. dollar, our internationalrevenueswillbereduced when translated into U.S. dollars.Inaddition, as foreigncurrency

exchange ratesfluctuate,the translationofour internationalrevenuesintoU.S.dollar-denominated operating results affectsthe period-

over-periodcomparability of such results andcan result in foreigncurrencyexchange gainsand losses.Furthermore,aportionofour

costsand expenses have been,and we anticipate will continue to be,denominated in foreigncurrencies, including theBritishpound

(“GBP”)and Euro.Ifthe valueofthe U.S. dollardepreciates significantlyagainst thesecurrenciesand our revenuestranslatedinto

U.S. dollars stay thesameordecrease, our costsasmeasured in U.S. dollars as apercent of our revenueswill correspondinglyincrease

andour marginswillsuffer. We have exposuretoforeign currencyexchange risk relatedtotransactions carried out in anycurrency

otherthanthe U.S. dollar, andinvestmentsinforeign subsidiaries with afunctionalcurrencyother than theU.S.dollar. See“Item

7A―Quantitative andQualitativeDisclosures About Market Risk—Foreign CurrencyExchange Risk.”

Geopolitical andmacroeconomic events have caused,and maycont inue to cause,volatility in currencyexchange ratesbetween the

U.S. dollarand othercurrencies, such as theGBP andthe Euro.Tothe extent that theU.S.dollarstrengthens relativetoother

currenciessuchasthe GBP, thetranslation of our internationalrevenuesintoU.S.dollars will reduceour U.S. dollardenominated

operating results andwill affect theirperiod-over-periodcomparability.

Significant foreignexchange rate fluctuations,inthe caseofone currencyorcollectivelywith othercurrencies, couldmaterially

adverselyaffect our business, financialcondition andresults of operations.

We mayexperience operationaland financialrisks in connectionwithacquisitions.

We have made andmay continue to seek potentialacquisitioncandidatestoadd complementarycompanies,products or technologies.

Theidentificationofsuitableacquisitioncandidatescan be difficult, time-consumingand costly,and we maynot be able to

successfully complete identifiedacquisitions.Wemay experience operationaland financialrisks in connectionwithhistorical and

future acquisitions if we areunableto:

• properlyvalue prospectiveacquisitions,especially thosewith limitedoperatinghistories;

• accurately review acquisitioncandidates’ businesspractices againstapplicable laws andregulations and, whereapplicable,

implement properremediationcontrols,procedures,and policies;

• successfully integratethe operations,aswellasthe accounting, financialcontrols,managementinformation, technology,

human resourcesand otheradministrativesystems,ofacquiredbusinesseswithour existingoperations andsystems;

• overcomeculturalchallengesassociated with integratingemployees fromthe acquiredcompany into our organization;

• successfully identifyand realizepotential synergiesamong acquiredand existing businesses;

• fully identifypotential risksand liabilitiesassociatedwith acquiredbusinesses, including intellectualpropertyinfringement

claims,violations of laws,commercialdisputes,tax liabilities, litigationorother claims in connectionwiththe acquired

company, including claims fromterminatedemployees,formerstockholders or otherthird parties, andother knownand

unknownliabilities;

• retain or hire senior management andother keypersonnelatacquiredbusinesses; and

• successfully manage acquisition-relatedstrainonour management,operations andfinancial resources andthoseofthe

various brands in our portfolio.

Furthermore, we maynot be successful in addressing otherchallengesencountered in connectionwithour acquisitions.The

anticipated benefits of one or more of our acquisitions maynot be realized or thevalue of goodwilland otherintangibleassets

acquiredcouldbeimpactedbyone or more continuing unfavorable events or trends,which resultedinBadoo brandimpairmentin

2022 andcouldresultinfurther significantimpairmentcharges.Any acquisitions or otherstrategic transactions we announcecouldbe

viewed negativelybyusers,marketers,developers,orinvestors, whichmay adverselyaffect our businessorthe priceofour ClassA

commonstock.The occurrenceofany of theseeventscouldhaveamaterialadverseeffect on our business, financialcondition and

results of operations.

Additionally, theintegrationofacquisitions requires significant time andresources,and we maynot manage theseprocesses

successfully.Our ability to successfully integratecomplex acquisitions is unproven, particularly with respect to companiesthathave

significant operations or that developproducts with whichwedonot have priorexperience.Wemay make substantialinvestmentsof

resources to supportour acquisitions,whi ch wouldresultinsignificantongoing operatingexpenses andmay divert resourcesand

management attentionfromother areas of our business. We cannot assure you that theseinvestmentswill be successful.Ifwefailto

successfully integratethe companiesweacquire,wemay not realizethe benefits expected fromthe transactions andour businessmay

be harmed.

Item 1B.UnresolvedStaff Comments

None.

Item 1C.Cybersecurity

As requiredbyItem106 of Regulation S-K, thefollowing sets forthcertain informationregarding our cybersecurity strategy, risk

management andgovernance.

Risk management andstrategy

OurInformationSecurityManagementSystem(“ISMS”), thefoundationofour security framework,isdesignedtoprotect critical

assets (including our users’ personalinformation) andassess ,identify, manage andmitigatematerialrisks fromcybersecurity threats.

TheISMSisapplicable to allindividuals andthird partiesproviding services to theCompany andisinformedbymultiple industry-

recognizedstandardsand frameworks, including theInternationalOrganizationfor Standardization(“ISO”) standardsfor information

security management systems, theU.S.NationalInstituteofStandardsand Technology (“NIST”) Cybersecurity Framework, andthe

PaymentCardIndustry(“PCI”) Data Security Standard (“PCI-DSS”).Itleverages theguidanceofISO 27001 in itsdesignand

operation, with policiesintendedtoalign to therequirementsofISO 27001 andfollowthe technical guidanceofthe appropriate NIST

SP 800-53 Security andPrivacy Controls standardswhere applicable.Wereviewour security policiesand procedures at leastonce

annually, as well as in connectionwith significant enterprise-widechanges, such as technical or structural changesinour businessor

regulatorychanges, andour policycontentiscontinuously updatedtoaccount forashifting threat landscape andtoincorporate

emerging best practices.Weare aPCI-DSS Level1Merchant andare independently assessedagainst thePCI-DSS standard annually

by an external PCIQualifiedSecurity Assessor.

Pursuant to theISMS, we continuously monitorcybersecurity threatsand strive to preemptivelyidentifyvulnerabilities. Our

vulnerability management program operatesonmultiplelayersofvulnerability discovery,suchasthird-party software component

analysis,staticand dynamicsecurity testing, continuous infrastructurevulnerability scanning, cloud infrastructurescanning,

independent third-partypenetrationtesting, andapublic bug bountyscheme. Ourthreatdetectioncapabilitiesinclude automated24/7

detectionand alertingwith automatedresponseprotocols designedtosupportrapid analysis andenrichmentfor security analysts who

areguidedbyaformally documentedIncidentResponsePlaninthe eventofabreach, as more fully describedbelow.

TheISMSalsoprovidesfor ongoing processes, toolsand methods to bolster our cybersecurity defenses.Weprovide training to allof

our employees,which includesannualinformation security awarenesseducation, deliveryofmonthlycybersecurity updates, and

simulatedphishingexercises.Wealsohostalive, third-partytabletopexerciseannually forinformationsecurity incident response for

keyindividuals,including senior management andother senior leadersofthe Company. Additionalsecurity features that we have in

place that areintendedtoprotect our systemsand data from cyber-attacksinclude:physical anddigital access controls,multifactor

authenticationfor domainsign-on, corporatemobile device management,and toolstodetect malicious emails andother suspicious

activity.

Finally, theISMSincorporates an Incident ResponsePlan, whichoutlinesthe procedures that we usetoinvestigateand respond to

cybersecurity events andalerts, an Incident ResponsePolicy, whichsetsout high-levelprinciplesand requirementsthatapplyto

cybersecurity incident response, andaBusiness Continuity Plan,which sets out high-levelsteps in protectingthe services,assetsand

employees of theCompany duringanevent that disruptsbusinesscontinuity.The Incident ResponsePlanincludesclearly defined

rolesand responsibilities, including guidancefor reportingupthe chaintoseniormanagementand, whereappropriate,tothe Audit

Committeeand theBoard.Itcomprises four high-levelphases: identificationand investigationofacybersecurity incident (including

suspected personaldatabreaches);containment to lessen anyongoing harm;eradicationofthe root cause;and, post-recovery,

supplementationofthe cybersecurity incident record with lessonslearned in ordertoimprove our incident responsecapabilities. The

Business Continuity Plan definesthe procedures to be followedifthere is acritical failurethatresults in operations at one of our

corporateoffices beingsuspended,aswellasthe procedures to be followed if thereisacritical failure of our services or underlying

hostinginfrastructurethatresults in significant degradationofaserviceprovided, with an aimtooperate at existingservice levels

throughout thedurationofthe incident.

When engaging third-party critical serviceproviders,weconductsecurity assessments before engagement andrequire them to

implement comprehensivecybersecurity practices consistent with applicable legalstandardsand industrybestpractices.Aspartof

such security assessment, we askthe third-partyservice providertocompleteaprivacy andsecurity questionnaire, through whichwe

can assess theservice provider’s security capabilitiesand maturity,and to provide us with evidence of penetrationtesting andreports.

To date,wedonot believe that anyrisks fromany cybersecurity threats, including as aresultofany previous cybersecurity incidents,

have materially affected or arereasonablylikelytomaterially affect us,including our business strategy, results of operations or

financialcondition. However, as discussedmorefully underPartI,“Item 1A—RiskFactors—RisksRelated to Information

Technology Systems,”the sophisticationofcyberthreats continuestoincrease, andthe preventativeactions we take to reducethe risk

of cybersecurity incidents andprotect our systemsand informationmay be insufficient. Accordingly, no matter how well designedor

implemented our controls are, we will not be able to anticipate allsecurity incidentsofthese types, andwemay not be able to

implement effectivepreventivemeasuresagainst such security incidentsinatimelymanner.

Governance

We have integrated theprocessofcybersecurity risk management,including oversight of theISMS, into our broaderriskmanagement

framework.The Boardhas broadoversight of risk management relatedtousand our businesswhile delegatingcertain specificrisk

oversight responsibilitiestoits committees.The Boardoversees our risk management activitiesthrough acombination of processes,

including direct engagement with management.The Boardhas determined that theAuditand Risk Committeeshall review our

compliance with legaland regulatoryrequirementsaswellasthe effectivenessofour risk management processes. As part of this

oversight,the Auditand Risk Committeereviews theguidelines,policies, andpractices that govern how senior management handles

our exposuretocyber- andprivacy-relatedrisks.

OurChief InformationSecurity Officer (“CISO”) providesquarterly updatestothe Auditand Risk Committee, as well as an annual

reporttothe Board, regardingarange of cybersecurity activitieswhile maintainingthe confidentiality,integrity,and availabilityof

information, including user informationunderour custody. Thereare also scheduled monthlymeetings where, among others,our

CISO,Head of Privacy andarepresentativeofthe Sponsor attend, in ordertodiscuss our cybersecurity program,including evaluating

theimplementationofadditionalcontrols,processes, policies, andprocedures,asappropriate,aswellasany notable security

incidents, if any. OurCISOjoinedthe Companyinthe role of ChiefInformationSecurity Officer almost four yearsago, andhas over

20 yearsofexperience in thefield of cybersecurity.Heissupportedbyand leadsour InformationSecurity team,which includes the

firstresponders to cybersecurity incidents.

Item 2. Properties

Ourcorporateheadquarters is located in leased office space in Austin,Texas andconsists of approximately 7,400 square feet.In

addition, we leasepropertieslocated outside of theUnitedStates, including office space in London, Barcelona andParis andwork

space in Mexico City,Mumbai, Sydneyand Berlin.

We also leaseanumberofoperations,datacenters andother facilities in severalstatesand in internationallocations.Our material data

centers include thoseinMiami, Prague,Frankfurtand Amsterdam. We believethatour facilities aregenerally adequate forour current

anticipated andfutureuse,although we mayfromtime to time leaseadditionalfacilitiesorvacateexistingfacilitiesasour operations

require.

Item 3. LegalProceedings

We aresubject to various legalproceedings,claims,and governmental inspections,audits or investigations arisingout of our business

whichcovermatters such as generalcommercial, consumer protection, governmental regulations,productliability,privacy,safety,

environmental, intellectualproperty, employmentand otheractions that areincidentaltoour business, including anumberof

trademarkproceedings,bothoffensiveand defensive, regardingthe BUMBLE, BADOO andFRUITZmarks.These matters are

subject to inherent uncertaintiesand it is possiblethatanunfavorable outcome of one or more of theselegal proceedings or other

contingenciescouldhaveamaterial impactonthe business, financialcondition, or resultsofoperations of theCompany.

LitigationRelated to theIllinoisBiometric InformationPrivacy Act(the“BIPA”)

In late 2021 andearly 2022, four putativeclass actionlawsuits were filedagainst theCompany alleging that certain features of the

Badoo or Bumble apps violatethe BIPA.Each of theselawsuitsallege that theapps used facial geometry scansinviolation of BIPA’s

authorization, consent, anddataretentionpolicyprovisions.Plaintiffs in theselawsuitsseekstatutory damages, compensatory

damages, attorneys’ fees,injunctiverelief, and(in one action) punitivedamages.The partiesinsomeofthese lawsuits have filed

motions with thecourtonprocedural issues andsomeofthe lawsuits have been narrowed. Thepartieshaveengagedinpreliminary

settlement discussions andanagreement in principlehas been reached.Anaccrualhas been made basedonthe probableand estimable

loss. In February 2024, an additionalclass actionlawsuit wasfiled in Illinoisallegingthatcertain features of Bumble appviolates

BIPA.Thiscaseisearly stageand theCompany cannot predictatthispoint thelengthoftime that this matter will be ongoing, the

outcome or theliability,ifany, whichmay arisetherefrom.

In August2023, theCompany receivedover17,000 pre-arbitrationdemands regardingBumble’sallegedviolationofBIPA. The

Companyisevaluatingthe demands andcannot predictatthispoint thelengthoftime that thesematters will be ongoing, their

outcome or theliability,ifany, whichmay arisetherefrom.

Proceedings Relatedtothe September2021 SecondaryPublic StockOffering(the“SPO”)

Sixshareholder derivativecomplaintshavebeenfiledinthe UnitedStatesDistrictCourtfor theSouthern District of NewYork,

UnitedState sDistrictCourtfor theDistrictofDelawareand Delaware CourtofChanceryagainst theCompany andcertain directors

andofficers assertingclaimsunderthe U.S. federalsecuritieslawsthatthe RegistrationStatement andprospectususedfor theSPO

containedfalse andmisleadingstatementsoromissions by failing to disclose certain informationconcerning Bumble andBadoo app

paying usersand relatedtrendsand issues with theBadoo apppayment platform,and that as aresultofthe foregoing, Bumble’s

businessmetrics andfinancial prospectswerenot as strong as representedinthe SPO RegistrationStatement andprospectus. The

Glover-Mottshareholderderivativecomplaint wasfil ed in April2022 in federalcourt. TheMichael Schirano shareholderderivative

complaintwas filedinMay 2023 in federalcourt. TheUnitedStatesDistrictCourtfor theDistrictofDelawareordered thetwo actions

consolidated in August2023 underthe captionInReBumbleInc.StockholderDerivativeLitigation. An amendedconsolidated

complaintwas filedinAugust2023 alleging violations of Section14(a) of theExchange Act, Section10(b) of theExchange Actand

Rule 10b-5promulgated thereunder, andSection 29(b) of theExchange Act, as well as forbreach of fiduciary duty, waste, andunjust

enrichment against, amongothers, management,our BoardofDirectors andBlackstone.The complaintseeksunspecified damages;

rescission of certainemploymentagreements between theindividualdefendantsand theCompany, disgorgement fromdefendantsof

anyimproperlyorunjustly obtainedprofits or benefits;anaward of costsand disbursements, includi ng reasonableattorneys’ fees;

punitive damages; pre- andpost-judgmentinterest, andthatthe Companybedirected to take actiontoreformits corporategovernance

andinternalprocedures.

Twofederal courtshareholder derivativecomplaintswerevoluntarily dismissedinJuly2023.

In January 2023 andFebruary2023, purportedshareholdersAlberto Sanchezand City of Vero BeachPoliceOfficers’Retirement

TrustFund, respectively, filedshareholderderivativecomplaintsinthe Delaware CourtofChancery. In March2023, theDelaware

CourtofChanceryconsolidated thoseactions underthe captionInreBumbleInc.StockholderDerivativeLitigation. In April2023,

theconsolidated actionplaintiffs filedaconsolidated complaintthatassertsclaims forbreach of fiduciary dutyand unjustenrichment

against, among others,management, our BoardofDirectors,and Blackstone.The complaintseeksunspecified damages; afinding that

theindividualdefendantsbreached theirfiduciary duties; disgorgement fromdefendantsofany unjustlyobtainedprofits or benefits;

andanaward of costsand disbursement,including attorneys’ fees,accountants’fees, andexperts’ fees.InOctober2023, thecourt

denied defendants’ motiontodismissthe consolidated complaint.

In August2023, Bumble received litigationdemands from(i) counsel representingthe purportedBumbleshareholderwho filedthe

voluntarilydismissedWilliamB.FedermanIrrevocable Trustderivativeactioninthe U.S. District Courtfor theDistrictofDelaware

and(ii)counsel representingthe purportedBumbleshareholderwho filedthe voluntarily dismissedDanaMessana derivativeactionin

theU.S.DistrictCourtfor theDistrictofDelaware. Both litigationdemands aredirected to theBumbleBoard andcontains factual

allegations involving theSeptember 2021 SPOthatare generally consistent with thoseinthe derivative litigationfiledinstate and

federalcourt. Theletters demand,among otherthings,thatBumble’sBoard undertakeaninde pendent investigationintoallegedlegal

violations,and that Bumble commenceacivil actiontopursuerelated claims againstany individuals whoallegedly harmed Bumble.

In November 2023, Bumble formed aSpecial LitigationCommittee(“SLC”) to investigatethe claims at-issueinthe In Re Bumble

Inc. StockholderDerivativeLitigationpending in theUnitedStatesDistrictCourtfor theDistrictofDelawareand Delaware Courtof

Chancery, as well as theWilliamB.FedermanIrrevocable Trustand Dana Messana litigationdemands.InJanuary 2024, the

Delaware CourtofChanceryentered an orderstaying thelitigationfor 180 days while theSLC investigationisongoing, andthe

UnitedState sDistrictCourtfor theDistrictofDelawareso-orderedastipulationsimilarlystaying thelitigationuntil July 15, 2024

while theSLC investigationisongoing. Management is unabletodeterminearange of potentiallossesthatisreasonablypossibleof

occurring.

TheCompany hasalsoreceivedaninquiry fromthe SECrelatingtothe disclosuresatissue in theSPO classactioncomplaint.The

Companycannotpredict at this point thelengthoftimethatthese matters will be ongoing, theiroutcome or theliability,ifany, which

mayarise therefrom.

Proceedings Relatedtothe CaliforniaUnruh CivilRightsAct

Between June 2023 andAugust2023, theCompany received over20,000 pre-arbitrationdemands or demands forarbitration

regardingBumble’sallegedviolation of California’sUnruh CivilRightsAct as aresultofits “women message first” feature. We

agreed to enterintomediations and, as aresult, thearbitrations were stayed pending resolutionofthe mediations.The mediations

concludedsuccessfully,and theCompany hasmade, or is negotiatingthe termspursuanttowhich it anticipates making, settlement

offers to each of theindividualclaimants basedonthe outcomesofthe mediations.Although theCompany expectsthatmost

claimantswill acceptthe settlement offers andthatmostdemands will be withdrawnand dismissed, certain claimantswho reject the

settlement offers maycontinue to prosecute theirdemands.The Companycannot predictatthistime thenumberofclaimants whowill

continue to prosecute theirdemands andthus cannot predictatthistime theoutcome or liabilitythatmay result fromany such

continuedarbitrations.For theyearendedDecember31, 2023, we recorded approximately $20.3 millionincosts in connectionwith

theaforementionedmatters.

As of December31, 2023, management hasassessedthatprovisions of $65.8 million areour best estimate of anyprobablefuture

obligation, including legalcosts incurred to date andexpected to be incurreduptocompletion, forthe ongoing litigations.This

provision includesamountsaccruedinconnectionwiththe litigationrelated to theBIPAand mass arbitrations describedabove.

Foradditionalinformation, refer to Note 19, Commitments and Contingencies,within theauditedconsolidated financialstatements

includedin“Item 8―FinancialStatementsand Supplementary Data”inthisAnnualReport.

Item 4. Mine Safety Disclosures

Notapplicable.

PART II

Item 5. Market forRegistrant’s CommonEquity, RelatedStockholder Matters andIssuerPurchases of Equity Securities

Market Information

OurClass Acommonstock begantrading on theNasdaqGlobalSelect Market underthe symbol “BMBL” on February 11, 2021.

Priortothatdate, therewas no public tradingmarketfor our ClassAcommonstock.

Thereisnoestablishedpublic tradingmarketfor our ClassBcommon stock.

Holders of Record

As of January 31, 2024, therewere63registeredholders of our ClassAcommonstock and20registeredholders of our ClassB

commonstock.Because many of our shares of ClassAcommon stockare held by brokers andother institutions on behalf of

stockholders,weare unabletoestimatethe totalnumberofstockholders representedbythese record holders.

Dividend Policy

Thedeclaration, amount andpayment of anyfuturedividends on shares of our capitalstock will be at thesolediscretionofour Board

of Directorsand we mayreduceordiscontinue entirelythe paymentofsuchdividends at anytime. OurBoard of Directorsmay take

into account generaland economic conditions,our financialcondition andoperating results, our availablecashand current and

anticipated cash needs, capitalrequirements, contractual, legal, taxand regulatoryrestrictions andimplications on thepayment of

dividends by us to our stockholders or by our subsidiaries to us,and such otherfactors as our BoardofDirectorsmay deem relevant.

RecentSales of UnregisteredSecurities

None.

Issuer Purchases of Equity Securities

In May2023, we announced that our BoardofDirectorshad approvedasharerepurchaseprogram of up to $150.0 millionofour

outstanding ClassAcommon stock. On November 7, 2023, theCompany announced an increaseinthe sharerepurchaseprogram

authorized amount from$150.0 millionto$300.0 million. In December 2023, theCompany andBumbl eHoldings enteredintoan

agreementwith Blackstone in aprivate transactionunderthe Company’sexistingshare repurchaseprogram,whereby theCompany

agreed to repurchase4.0 millionsharesofits ClassAcommonstock beneficially ownedbyBlackstone andBumbleHoldings agreed

to repurchasefromBlackstone 3.2millionCommonUnits,which areexchangeable forsharesofClass Acommonstock on aone-for-

one basis, foranaggregatepurchaseprice of $100 million. Theprogram had$143 millionremaining as of December31, 2023. Share

repurchases underthe program will be made on adiscretionary basisfromtimetotime, subject to generalbusinessand market

conditions andother investment opportunities, through openmarketpurchases,privately negotiatedtransactions in compliancewith

Rule 10b-18 underthe Exchange Actorother means, including through Rule 10b5-1trading plans. Theshare repurchaseprogram

doesnot have an expiration date andmay be suspendedordiscontinuedatany time.

Thefollowing tablesetsforth purchasesbythe Companyofits ClassAcommon stockduringthe year endedDecember31, 2023

underthispublicly announced sharerepurchaseprogram.

Period

(a)

Total

Number of

Purchased

(b)

Average PricePaid

PerShare

(1)

(c)

TotalNumberofShares

Purchased as Part of

Publicly Announced

PlansorPrograms

(d)

MaximumApproximate

DollarValue of Shares

That MayYet Be

Purchased Under

Publicly Announced

PlansorPrograms

(2)

October1-October31,

2023

—

$ 129,110,016

November 1-November

30, 2023

2,500,000 14.45 2,500,000 242,980,726

December1-December

31, 2023

(3)

7,204,247 13.90 7,204,247 142,860,371

Total 9,704,247 $ 14.04 9,704,247 $ 142,860,371

(1)Average pricepaidper shareincludescosts associated with therepurchases (i.e.brokercommissions,etc.).

(2)Representsthe approximate dollarvalue of shares of ClassAcommonstock that remained availablefor repurchaseasof

December31, 2023.

(3)Includes3,192,146 Common Units, whichare exchangeable forsharesofClass Acommonstock on aone-for-one basis,

repurchased fromBlackstone by Bumble Holdings.

PerformanceGraph

Thefollowing performance graphshall not be deemed soliciting material or to be filedwiththe SECfor purposes of Section18ofthe

Exchange Act, nor shallsuchinformationbeincorporated by referenceintoany of our otherfilings underthe Exchange Actorthe

Securities Act.

Thegraph belowcomparesthe cumulative totalstockholderreturnonour ClassAcommonstock with thecumulativetotal return on

theNasdaqCompositeIndexand theNasdaqCTA Internet Index. Thegraph assumesaninitialinvestment of $100 in our common

stockatthe market closeonFebruary11, 2021, whichwas our initialtrading day. Data forthe Nasdaq Composite Indexand the

Nasdaq CTAInternetIndex assume an initialinvestment of $100 at market closeonFebruary11, 2021 andthe reinvestment of

dividends.

Thecomparisons in thegraph beloware basedupon historical data andare not indicativeof, nor intendedtoforecast, future

performance of our ClassAcommonstock.

Item 6. Reserved

Item 7. Management’s Discussion andAnalysisofFinancial Condition andResults of Operations

Youshouldreadthe followingdiscussion and analysis of thefinancialconditionand results of operations of Bumble Inc. in

conjunction with our consolidated financialstatementsand therelated notes includedinPartII, “Item8—FinancialStatementsand

Supplementary Data”ofthisAnnual ReportonForm10-K. This discussion contains forward-lookingstatementsthat involverisks and

uncertainties about our businessand operations.Our actual results coulddiffermaterially from thosediscussed in theforward-

lookingstatements. Factorsthat couldcauseorcontributetothese differences include without limitationthosediscussed in this

Management’s Discussion and Analysis of FinancialCondition and Results of Operations and thoseidentifiedinPartI,“Item 1A—

Risk Factors.”

Overview

We provide onlinedatingand social netw orking applications through freesubscriptionand in-app purchases of products servicing

NorthAmerica,Europe andvarious othercountries around theworld.In2023, Bumble operatedfiveapps,Bumble, Bumble For

Friends,Badoo, Fruitz andOfficial.Bumbleapp, launchedin2014, is one of thefirst datingapps built with womenatthe center,

wherewomen make thefirst move.Bumbleapp is aleader in theonlinedatingsectoracrossseveral countries,including theUnited

States,the United Kingdom,Australia andCanada. Badoo app, launchedin2006, wasone of thepioneersofweb andmobile free-to-

usedatingproducts.Badoo app’sfocus is to make finding meaningful connections easy,fun andaccessiblefor amainstreamglobal

audience.Badoo appcontinuestobeamarketleader in Europe andLatin America. In January 2022, we acquiredFruitz,anintentions-

driven dating appfocused on GenZ,operatinginEMEAand Canada.InApril 2023, we acquiredOfficial,anapp that is intendedto

help couples build healthyand lastinghabitsintheir romantic relationships.Buildingonthe BFFmode in Bumble app, in July 2023

we officially launchedastandalone Bumble ForFriends app. Bumble ForFriends appisafriendshipapp wherepeopleinall stages of

lifecan meet peoplenearby andcreatemeaningful platonicconnections.

OverviewofFinancial Results

Forthe yearsendedDecember31, 2023, 2022 and2021, we generated:

• TotalRevenue of $1,051.8 million, $903.5 millionand $760.9 million, respectively;

• Bumble AppRevenue of $844.8 million, $694.3 millionand $528.6 million, respectively;

• Badoo Appand OtherRevenue of $207.1 million, $209.2 millionand $232.3 million, respectively;

• NetEarnings (Loss) of $(1.9) million, $(114.1) millionand $281.7 million, respectively, representingNet Earnings (Loss)

Marginsof(0.2)%, (12.6)%and 37.0%,respectively;

• Adjusted EBITDA of $275.6million, $226.9 millionand $207.2 million, respectively, representingAdjustedEBITDA

Marginsof26.2%,25.1% and27.2%,respectively;

• Netcashprovidedbyoperatingactivitiesof$182.1 million, $132.9 millionand $104.8 million, respectively, andOperating

Cash Flow Conversionof*,(116.5)%and 37.2%,respectively; and

• Free Cash Flow of $167.2 million, $116.6 million and$91.2 million, respectively, representingFreeCashFlowConversion

of 60.7%,51.4% and44.0%,respectively.

*Not meaningful

ForareconciliationofAdjustedEBITDA, Adjusted EBITDA margin,FreeCashFlowand Free Cash Flow Conversion, whichare all

non-GAAPmeasures, to themostdirectlycomparableGAAPfinancial measures,informationabout whyweconsider Adjusted

EBITDA, Adjusted EBITDA margin,freecashflowand free cashflowconversionusefuland adiscussionofthe material risksand

limitations of thesemeasures,pleasesee “—Non-GAAP FinancialMeasures.”

KeyOperating Metrics

We regularly review anumberofmetrics,including thefollowing keyoperatingmetrics,toevaluateour business, measureour

performance,identifytrendsinour business, preparefinancial projections andmakestrategic decisions.Webelieve theseoperational

measures areusefulinevaluatingour performance,inaddition to our financialresults prepared in accordance with GAAP.Refer to the

section“CertainDefinitions”atthe beginning of this AnnualReportfor thedefinitions of our KeyOperatingMetrics.

Thefollowing metricswerecalculatedexcluding paying usersand revenue generatedfromOfficial,advertisingand partnerships or

affiliates and, forperiods priortothe fourth quarter of 2023, excluding paying usersand revenue generatedfromFruitz.Beginning in

thefourth quarter of 2023, paying usersand revenue generatedfromFruitz areincludedinour keyoperatingmetrics.Prior period

informationand keyoperating metricshavenot been recast to include paying usersand revenue generatedfromFruitz.

(inthousands,exceptARPPU)

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

KeyOperatingMetrics

Bumble AppPayingUsers 2,517.4 2,002.2 1,499.8

Badoo Appand OtherPayingUsers 1,203.3 1,179.7 1,394.1

TotalPayingUsers 3,720.7 3,181.9 2,893.9

Bumble AppAverage Revenue perPayingUser $ 27.97 $ 28.90 $ 29.37

Badoo Appand OtherAverage Revenueper Paying User $ 12.70 $ 13.06 $ 13.13

TotalAverage Revenue perPayingUser $ 23.03 $ 23.03 $ 21.55

KeyFactors Affectingour Performance

Ourresults of operations andfinancial conditionhavebeen,and will continue to be,affected by anumberoffactorsthatpresent

significant opportunitiesfor us but also poserisks andchallenges, including thosediscussed belowand elsewhereinthisAnnual

ReportonForm10-K, particularly in Part I, “Item1A—Risk Factors.”

Growth in Monetization

Ourapps monetizevia afreemiummodelwhere theuse of our serviceisfreeand asubset of our userspay forsubscriptions or in-app

purchases to accesspremiumfeatures.Weacquire newusers through investmentsinmarketingand brandaswellasthrough word of

mouthfromexistingusers andothers. We convert theseusers to Paying Usersbyintroducingpremiumfeatureswhich maximize the

probability of developing meaningful connections andimproving theirexperience.

Ourrevenue growth primarily depends on Paying Usersand ARPPU.Wecontinually developnew monetizationfeatures andimprove

existingfeaturesinorder to increaseadoptionofin-apppurchases andour subscriptionprogramsstrikingabalancebetween the

numberofPayingUsers andARPPU.Wealsotestnew pricingstrategies, including different pricingtiers andusersegmentationand

sharethoseinsightsacrossour apps to optimizemonetization.

While we seeopportunity forgrowthinour core onlinedatingmarketdrivenbythe steadygrowthofthe globalsingles population,

increasing adoptionofonlinedatingbothinthe UnitedStatesand globally andincreasingpropensity to payfor onlinedating, we may

also face challengesincreasingour Paying Users. Thesechallengesmay include theprevailingglobaleconomic climate,competition

fromalt ernativeproducts,lackofappealingproductfeatures, enforcementofrestrictivepayment policiesfromin-apppayment

systemsprovidedbyAppleand Google, andslowerrates of growth in theonlinedatingmarket.

Many variableswillimpactour ARPPU, including thenumberofPayingUsers andmix of monetizationofferings on our platform,as

well as theeffect of demographicshiftsand geographicdifferences on allofthese variables. Ourpricing is in localcurrencyand may

vary betweenmarkets.Asforeign currencyexchange rateschange,translation of thestatementsofoperations into U.S. dollars could

negatively impactrevenue anddistort year-over-year comparability of operatingresults.

To theextentour ARPPU growth slows, our revenue growth will become increasinglydependent on our ability to increase ourPaying

Users.

Expansion into NewGeographic Markets

We arefocused on growingour platform globally,including through entering newmarkets andinvestinginunder-penetratedmarkets.

As we introduceBumbleapp to newmarkets throughout Europe,Asia, andLatin Americawecan leverage thelocal insights, scale,

andinfrastructureofBadoo app’sexistingglobalfootprinttoefficiently enternew markets. Badoo appcan also leverage Bumble’s

marketingexpertiseand strength in NorthAmerica to supportgrowthinthatmarket.

Expanding into newgeographies will require increasedcosts relatedtomarketing, as well as localizationofproductfeaturesand

services.Potential riskstoour expansionintonew geographies will include competitionand compliancewithforeign laws and

regulations.

As we expand into certainnew geographies,wemay seeanincreaseinusers whoprefertoaccesspremiumfeatures through our in-

apppurchaseoptions rather than through our subscriptionpackages whichcouldimpactour ARPPU. We mayalsosee alower

propensity to payasweenter certainnew markets.

InvestinginGrowthWhile DrivingLong-Term Profitability

Ourmission-driven strategy ensuresthatvaluesguide our businessdecisions andour businessperformance enablesustodrive impact

through investment in technology, marketingand productinnovation, balancinggrowthwithlong-term margins.

We expect to continue to invest in technology, marketingand productinnovationtodrive growth whileimproving marginsoverthe

long term.Key investment areasfor our platform include artificial intelligence capabilities, including improving our matching and

contentmoderatio ntechnologies;featuresthatenhance trustand safety on our platform;new offerings that enhanceuserengagement

andretention; marketing, andpersonalizationcapabilities;and newsubscriptionand consumable offerings to driveincremental value

to Paying Users.

Attracting andRetaining Talent

Ourbusinessreliesonour ability to attract andretainour talent,including engineers, data scientists,productdesigners andproduct

developers.Webelieve that peoplewanttoworkatacompanythathas purposeand aligns with theirpersonalvalues, andtherefore

our ability to recruittalentisaided by our mission andbrand reputation. We competefor talent within thetechnology industry.

Seasonality

We experience seasonality in user growth,userengagement,PayingUsergrowth, andmonetizationonour platform.Historically,we

have seen an increaseinall of thesemetrics in January due in part to seasonaldemandinthe lead up to Valentine’sDay,and during

theNorthernHemisphere summer. Generally, our highest performingmonths forusergrowthand user engagement areduringthe first

andthird quartersofthe fiscal year,and our highest performingmonths forTotal Paying Usersare in thethird andfourth quartersof

thefiscalyear.

Macroeconomic Condit ions

Theprevailing globaleconomic climate,the conflicts in EasternEurope andthe MiddleEast, andother macroeconomic conditions,

including but not limitedtoslowergrowthoreconomic recession, changestofiscal andmonetary policy, andexchange rate

fluctuations have adverselyaffected andmay continue to adverselyimpact our businessasconsumersface greaterpressure on

disposable income.The increaseininterestrates by theFederal Reserveand overall market conditions ledtosignificantstrengthening

of theU.S.dollaragainst otherglobalcurrenciesin2022. Throughout 2023, theU.S.dollarexperienced volatility,which stabilized in

thefourth quarter.Astrong U.S. dollarhas impactedand mayimpact our revenue andearnings in thefuture. We continuously monitor

thedirectand indirect impactsofthese circumstances on our businessand financialresults.

Foradditionalinformation, see“Item 1A―Risk Factors—GeneralRiskFactors—We areexposed to changesinthe global

macroeconomic environmentbeyond our control, whichmay adverselyaffect consumer discretionary spending, demand forour

products andservices,our expenses andour ability to execute strategicplans.”

Transformation Plan

On February 27, 2024, we announced that theCompany intends to reduceits globalworkforce by approximately 350 rolestobetter

alignour operatingmodelwithfuturestrategic priorities andtodrive strongeroperatingleverage. As aresult, we expect to incur

approximately $20 millionto$25 millionofnon-recurring charges, consistingprimarily of employeeseverance, benefits,and related

chargesfor impacted employees.

FactorsAffectingthe ComparabilityofOur ResultsofOperations

As aresultofanumberoffactors,our historical results of operations maynot be comparable fromperiodtoperiodorgoing forward.

Setforth belowisabriefdiscussionofthe keyfactorsimpactingthe comparability of ourresults of operations.

InitialPublicOffering andOffering Transactions

On February 10, 2021, our registration statementonFormS-1 relatingtoour initialpublic offering (“IPO”)was declared effectiveby

theSEC,and ourClass Acommonstock begantrading on theNASDAQonFebruary11, 2021. OurIPO closed on February 16, 2021.

Foradditionalinformation, seeNote1,Organizationand BasisofPreparation, to our consolidated financialstatementsincludedin

Part II, “Item 8—Financial Statements andSupplementary Data”ofthisAnnualReportonForm10-K.

Bumble Inc. issued andsold57.5million shares of its ClassAcommonstock in theIPO,including 7.5 millionsharessoldpursuantto

theexerciseinfullbythe underwriters of theiroptiontopurchaseadditionalshares. Bumble Inc. used theproceeds(netof

underwritingdiscounts) fromthe issuance of 9millionshares($369.6 million) to acquire an equivalent numberofnewly-issued

CommonUnits fromBumbleHoldings,which Bumble Holdings used to repayoutstandi ng indebtedness underour Term Loan Facility

totaling approximately $200.0 millioninaggregate principalamount andapproximately $148.3 millionfor generalcorporatepurposes,

andtobearall of theexpensesofthe IPO. Bumble Inc. used theproceeds(netofunderwriting discounts) fromthe issuance of 48.5

millionshares($1,991.6 million) to purchaseorredeemanequivalent aggregatenumberofsharesofClass Acommonstock and

CommonUnits fromour pre-IPOowners. We refertothe foregoing transactions as the“Offering Transactions”.

SecondaryOfferings

On September15, 2021, theCompany completedasecondary offering of 20.7 million shares of ClassAcommonstock on behalf of

certain sellingstockholders affiliatedwith Blackstone (the "Blackstone SellingStockholders") at aprice of $54.00 pershare.This

transactionresultedinthe issuance of 9.2 millionClass Asharesofcommonstock forthe period endedSeptember 30, 2021, which

were issued in exchange forCommonUnits held by thesellingstockholders.

On March8,2023, theCompany completedasecondary offering of 13.75 millionsharesofClass Acommonstock on behalf of the

Blackstone SellingStockholders andthe Founderatapriceof$22.80 pershare.Thistransactionresultedinthe issuance of 7.2 million

ClassAshares of commonstock forthe period endedMarch 31, 2023, whichwereissued in exchange forCommonUnits held by the

sellingstockholders.

Bumble didnot sell anysharesofClass Acommonstock in theseofferings anddid not receiveany of theproceedsfromthe sales.

Bumble paid thecosts associated with thesales of shares by thesellingstockholders,net of theunderwriting discounts.

ReorganizationTransactions

Priortothe completionofthe IPO, we undertook certain reorganizationtransactions (the “ReorganizationTransactions”) such that

Bumble Inc. is now aholding company, andits sole material assetisacontrollingequity interest in Bumble Holdings.Asthe general

partnerofBumbleHoldings,BumbleInc.now operatesand controls allofthe businessand affairsofBumbleHoldings,has the

obligationtoabsorblossesand receive benefits fromBumbleHoldings and, through Bumble Holdings andits subsidiaries,conducts

our business. TheReorganizationTransactions were accounted forasareorganizationofentitiesundercommoncontrol. As aresult,

theconsolidated financialstatementsofBumbleInc.willrecognize theassets andliabilitiesreceivedinthe Reorganization

Transactions at theirhistorical carrying amounts, as reflectedinthe historical financialstatementsofBumbleHoldings,the accounting

predecessor.BumbleInc.will consolidateBumbleHoldings on itsconsolidated financialstatementsand record anon-controlling

interest,related to theCommonUnits andthe IncentiveUnits held by our pre-IPOowners, on itsconsolidated balancesheetsand

statements of operations.

Bumble Inc. is acorporationfor U.S. federaland stateincometax purposes.BumbleInc.’saccountingpredecessor, Bumble Holdings,

is andhas been sincethe Sponsor Acquisition, treatedasaflow-through entity forU.S.federal income taxpurposes,and as such,has

generallynot been subjecttoU.S.federal income taxatthe entity level. Accordingly, thehistoricalresults of operations andother

financialinformation setforth in this AnnualReportdonot includeany material provisions forU.S.federal income taxfor theperiod

priortoour IPO. Following our IPO, Bumble Inc. pays U.S. federaland stateincometaxes as acorporationonits shareofBumble

Holdings’taxable income.

In connectionwith theReorganizationTransactions andour IPO, we enteredintoataxreceivableagreementwith certainofour pre-

IPOownersthatprovidesfor thepayment by theCompany to such pre-IPOownersof85% of thebenefits that theCompany realizes,

or is deemed to realize, as aresultofthe Company’sallocable shareofexistingtax basisacquiredinour IPO, increases in our shareof

existingtax basisand adjustmentstothe taxbasis of theassets of Bumble Holdings as aresultofsales or exchangesofCommonUnits

(including CommonUnits issued upon conversionofvestedIncentiveUnits), andour utilizationofcertain taxattributes of the

BlockerCompanies (including theBlocker Companies’ allocableshare of existing taxbasis) andcertain othertax benefits relatedto

entering into thetax receivableagreement.

Foradditionalinformation, see“Item 1A―Risk Factors—Bumble Inc. will be requiredtopay certainofour pre-IPOownersfor most

of thebenefits relating to taxdepreciationoramortizationdeductions that we mayclaim as aresultofBumbleInc.’sallocable shareof

existingtax basisacquiredinthe IPO, Bumble Inc.’s increase in its allocable shareofexistingtax basisand anticipatedtax basis

adjustmentswereceive in connectionwithsales or exchangesofCommonUnits (including Common Unitsissuedupon conversionof

vested IncentiveUnits)inconnectionwith or afterthe IPOand our utilizationofcertain taxattributes of theBlocker Companies.” and

“Item1A―Risk Factors—In certain cases, payments underthe taxreceivableagreementmay be accelerated and/or significantly

exceedthe actualbenefits Bumble Inc. realizes in respect of thetax attributes subject to thetax receivableagreement.”

Foradditionalinformation, seeNote5,PayabletoRelated PartiesPursuant to aTax ReceivableAgreement, to our consolidated

financialstatementsincludedinPartII, “Item8–Financial Statements andSupplementary Data”ofthisAnnualReportonForm10-

We have determined that it is more likelythannot that we will be unabletorealizecertain taxbenefits that were receivedin

connectionwith theReorganizationTransactions andour IPO. As aresultofthisdetermination, we have not recorded thebenefit of

thesedeferredtax assets as of December31, 2023. TheCompany is entitledtocertain depreciationand amortizationdeductions as a

result of itsallocable shareofexistingtax basisacquiredinthe IPOand increases in its allocable shareofexistingbasis and

adjustmentstothe taxbasis of theassets of Bumble Holdings as aresultofsales or exchangesinconnectionwiththe IPO. Thereis

significant existingtax basisinthe assets of Bumble Holdings as aresultofthe Sponsor Acquisition. Basedoncurrent projections,we

anticipatehavingsufficienttaxable income to be able to realizethese taxbenefitsand have recorded aliability of $430.2 million

associated with thetax receivableagreementrelated to th esebenefits,ofwhich $22.8 millionisincludedin“Accruedexpense and

othercurrent liabilities”.The ability of thedeferredtax assets to be realized is evaluatedbased on allpositive andnegativeevidence,

including future reversalsofexistingtaxable temporarydifferences,projected future taxableincome, taxplanning strategies andrecent

results of operations.Wewill assess theability of thedeferredtax assets to be realized at each reporting period, andachange in our

estimate of our liability associated with thetax receivableagreement mayresultasadditionalinformationbecomesavailable,

including results of operations in future periods.Duringthe year endedDecember31, 2023, our taxreceivableagreementliability

increasedbyanet$35.9 milliondue to thefollowing: (1)a$31.4 millionincreasefor theeffectsofthe March2023 secondary offering

of 13.75 millionsharesofClass Acommonstock on behalf of theBlackstone SellingStockholders andthe Founder, (2)a$2.6 million

increase foreffectsofthe December 2023 repurchaseof3.2 millionCommonUnits in Bumble Holdings fromBlackstone entities, (3)

a$10.8 millionincreaserelated to therelease of avaluation allowanceoncertain taxattributes and(4) an $8.9 milliondecreasedue to

thetax receivableagreementpaymentsmadeduringthe year endedDecember31, 2023.

EmployeeEquity Plans

In connectionwith theReorganizationTransactions andour IPO, we undertook anumberofmodifications to existingemployeeequity

planssuchthatawardsunderthe FounderPlan, U.S. Plan,and Non-U.S. Plan were reclassified as follows:

• TheTim e-Vestingand Exit-VestingClass BUnits in Bumble Holdings underthe FounderPlanand grantedtoSenior

Management underthe U.S. Planwerereclassified to vested IncentiveUnits (inthe caseofVestedClass BUnits)and

unvested IncentiveUnits (inthe caseofunvested ClassBUnits)inBumbleHoldings.

• TheTime-Vestingand Exit-VestingClass BUnits in Bumble Holdings (other than thosegranted to senior management)

were reclassified to ClassAcommonstock (inthe caseofvestedClass BUnits)and restricted shares of ClassAcommon

stock(in thecaseofunvested ClassBUnits)inBumbleInc.

• TheTime-Vestingand Exit-VestingPhantom ClassBUnits in Bumble Holdings were reclassified into vested RSUs (in

thecaseofvestedClass BPhantom Units)and unvested RSUs (inthe caseofunvested ClassBPhantomUnits)inBumble

Inc. As themodificationresultedinachange from liability-settledtoequity-settled,the RSUs were fair valued at thedate

of theIPO.

In allcases of respectivereclassifications,the Post-IPOawardsretainedthe same termsand conditions (including applicable vesting

requirements). Each Post-IPOaward wasconverted to reflect the$43.00 shareprice contemplated in theCompany’sIPO while

retainingthe same economic valueinthe Company.

In connectionwith theIPO,weadopted the2021 OmnibusIncentivePlan(the“2021 Omnibus Plan”),which becameeffectiveonthe

date immediatelyprior to theeffectivedateofthe IPO. Underthe 2021 Omnibus Plan,wegranted equity awards as follows:

• Stockoptions with theunderlyingequity beingsharesofthe Company’sClass Acommonstock.These stockoptions are

inclusiveofbothTime-Vesting stockoptions andExit-Vestingstock options.

• Time-Vesting Restricted StockUnits with theunde rlying equity beingsharesofthe Company’sClass Acommonstock.

• Shares of ClassAcommonstock issuable in exchange foranequivalent numberofCommonUnits in Bumble Holdings to

be received upon theconversionofvestedTime-Vesting andExit-VestingIncentiveUnits in Bumble Holdings.

At theIPO date,weconcludedthatour public offering representedaqualifyingliquidity eventthatwouldcause theExit-Vesting

awards’performance conditions to be probable. As such,westarted to recognize stock-basedcompensationexpensefor theExit-

Vestingawards. On July 15, 2022, theExit-Vestingawards, with vestingbased on certain performance conditions,weremodifiedto

also provide fortime-based vestingin36equalinstallmentsand we begantorecognize incrementalstock-based compensation

associated with themodificationofthese awards. During theyearsendedDecember31, 2023, 2022 and2021, we recognized

compensation cost relatedtoExit-Vestingawardsof$13.2 millionand $31.3 millionand $26.3 million, respectively, whichincludes

themodificationofthese awards in fiscal year 2022.

Foradditionalinformation, seeNote15, Stock-based Compensation, to our consolidated financialstatementsincludedinPartII, “Item

8–Financial Statements andSupplementary Data”ofthisAnnualReportonForm10-K.

Statements of OperationsReclassification

Beginning on January 1, 2023, we reclassified certainemployeeand non-employeerelated expenses,including stock-based

compensation, that supportengineering, data design andproductmanagement, as well as maintenanceand supportcosts for

technology infrastructure, in theConsolidated Statements of Operations to alignwithoperationalfunctions.Toconformtocurrent

year presentation, we have reclassified $10.4 millionand $7.8 millionfor theyears endedDecember31, 2022 and2021, respectively,

from “Generaland administrative expense” to “Productdevelopmentexpense”.Inaddition, we have reclassified $0.4 million forthe

year endedDecember31, 2021 from “Generaland administrativeexpense” to “Cost of revenue”.

Components of ResultsofOperations

Ourbusinessisorganized into asinglereportablesegment.

Revenue

We monetizethe Bumble,BumbleFor Friends,Badoo, Fruitz andOfficial apps viaafreemiummodelwhere theuse of our serviceis

freeand asubs et of our userspay forsubscriptions or in-app purchases to accesspremiumfeatures. Subscriptionrevenue is presented

netoftaxes,refundsand credit card chargebacks. This revenue is initially deferredand is recognized usingthe straight-linemethod

overthe term of theapplicable subscription period. Revenue fromlifetimesubscriptions is deferredoverthe averageestimated

expected period of thesubscriber relationship, whichiscurrently estimated to be twelve months.Revenue fromthe purchaseofin-app

features is recognized basedonusage andestimatedbreakagerevenue associated with unused in-app purchases.

We also earn revenue fromonlineadvertising andpartnerships, whichare notasignificant part of our business. Onlineadvertising

revenue is recognized when an advertisementisdisplayed.Revenue from partnerships is recognizedaccordingtothe contractualterms

of thepartnership.

Cost of revenue

Cost of revenue cons ists primarily of in-app purchasefees due on payments processedthrough theAppleApp Storeand GooglePlay

Store. PurchasesonAndroid,mobileweb anddesktop mayhaveadditionalpayment methods,suchascreditcardorvia telecom

providers.These purchases incurfees whichvarydepending on paymentmethod. Purchase fees aredeferredand expensed overthe

same period as revenue.

Cost of revenue also includesdatacenterexpensessuchasrent, power andbandwidth forrunning servers, cloud hosting costs,

employeecompensation(including stock-basedcompensation) andother employeerelated costs, impairment of capitalized aggregator

costsassociated with breakagerevenue andrestructuring charges. Expenses relating to customer carefunctions such as customer

service, moderators andother auxiliary costsassociatedwith providing services to customerssuchasfraud preventionare also

includedwithincostofrevenue.

Selling andmarketing expense

Selling andmarketing expenseconsists primarily of brandmarketing, digitaland social mediaspend, fieldmarketing, restructuring

charges, compensationexpense(including stock-basedcompensation) andother employee-relatedcosts forpersonnelengagedinsales

andmarketingfunctions.

Generaland administrativeexpense

Generaland administrativeexpenseconsistsprimarily of compensation (including stock-basedcompensation) andother employee-

relatedcosts forpersonnelengaged in executive management,finance, legal, taxand human resources.General andadministrative

expensealsoconsists of transactioncosts,impairmentlosses, changesinfairvalue of contingent earn-out liability,expenses associated

with facilities, informationtechnology, external professionalservices,legal costs, settlement of legalclaims andaccrualsfor future

legalobligations that aredeemed probableand estimable, restructuringcharges andother administrativeexpenses.

Product developmentexpense

Productdevel opm entexpense consists primarily of compensation(including stock-basedcompensation) andother employee-related

costsfor personnelengagedinthe design, development, testingand enhancementofproductofferings andrelated technology, as well

as restructuringcharges.

Depreciationand amortization expense

Depreciationand amortizationexpenseisprimarily relatedtocomputer equipment, leaseholdimprovements, furnitureand fixtures,

developedtechnology, user base,white labelcontracts, trademarks andother definite-lived intangibleassets.

Interest income (expense),net

Interest income (expense),net consists of interest income receivedonmoneymarketfunds andrelated partyloans receivables and

interest expenseincurredinconnectionwithour long-term debt.

Otherincome(expense),net

Otherincome(expense),net consists of insurancereimbursement proceeds, impacts fromforeign exchange transactions,tax

receivableagreement liability remeasurement(benefit) expense, loss on debt extinguishment,fairvalue changesinderivatives,sub-

leaseincomeand investmentsinequity securities.

Income taxbenefit (provision)

Income taxbenefit (provision) represents theincometax benefitorexpenseassociated with our operations basedonthe taxlawsofthe

jurisdictions in whichweoperate.These foreignjurisdictions have different statutorytax ratesthanthe United States.Our effective

taxrates will vary depending on therelativeproportionofforeign to domestic income,changesinthe valuationofour deferredtax

assets andliabilities,and changesintax laws.

ResultsofOperations

Thefollowing tablesetsforth ourcons olidated statements of operations informationfor theperiods presented:

(inthousands)

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

Revenue $ 1,051,830 $ 903,503 $ 760,910

Operatingcosts andexpenses:

Cost of revenue 307,835 249,490 205,573

Selling andmarketing expense 270,380 249,269 211,711

Generaland administrativeexpense 221,649 308,855 257,489

Productdevel opm entexpense 130,565 109,020 113,764

Depreciationand amortizationexpense 68,028 89,713 107,056

Totaloperating costsand expenses 998,457 1,006,347 895,593

Operating earnings (loss) 53,373 (102,844) (134,683)

Interest income (expense),net (21,534) (24,063) (24,574)

Otherincome(expense),net (26,537) 16,189 3,160

Income (loss) before income tax 5,302 (110,718) (156,097)

Income taxbenefit (provision) (7,170) (3,406) 437,837

Netearnings(loss) (1,868) (114,124) 281,740

Netearnings (loss) attributable to noncontrolling interests

2,345 (34,378) (28,075)

Netearnings (loss) attributable to Bumble Inc. shareholders

$ (4,213) $ (79,746) $ 309,815

Thefollowing tablesetsforth ourcons olidated statements of operations informationasapercentage of revenue forthe periods

presented:

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

Revenue 100.0% 100.0% 100.0%

Operatingcosts andexpenses:

Cost of revenue 29.3% 27.6% 27.0%

Selling andmarketing expense 25.7% 27.6% 27.8%

Generaland administrativeexpense 21.1% 34.2% 33.8%

Productdevel opm entexpense 12.4% 12.1% 15.0%

Depreciationand amortizationexpense 6.5% 9.9% 14.1%

Totaloperating costsand expenses 94.9% 111.4% 117.7%

Operating earnings (loss) 5.1% (11.4)% (17.7)%

Interest income (expense),net (2.0)% (2.7)% (3.2)%

Otherincome(expense),net (2.5)% 1.8% 0.4%

Income (loss) before income tax 0.5% (12.3)% (20.5)%

Income taxbenefit (provision) (0.7)% (0.4)% 57.5%

Netearnings(loss) (0.2)% (12.6)% 37.0%

Netearnings (loss) attributable to noncontrolling interests

0.2% (3.8)% (3.7)%

Netearnings (loss) attributable to Bumble Inc. shareholders

(0.4)% (8.8)% 40.7%

Thefollowing tablesetsforth thestock-based compensation expenseinclu de dinoperating costsand expenses:

(inthousands)

Year Ended

December31, 2023

Year Ended

December31, 2022

Year Ended

December31, 2021

Cost of revenue $ 4,054 $ 3,819 $ 3,749

Selling andmarketing expense 9,803 8,064 12,925

Generaland administrativeexpense 52,008 63,575 60,535

Productdevel opm entexpense 38,473 35,550 46,701

Totalstock-based compensation expense $ 104,338 $ 111,008 $ 123,910

Thefollowing tablesetsforth ourrevenue acrossapps forthe periods presented:

(inthousands)

Year Ended

December31, 2023

Year Ended

December31, 2022

Year Ended

December31, 2021

Bumble App $ 844,774 $ 694,329 $ 528,585

Badoo Appand Other 207,056 209,174 232,325

TotalRevenue $ 1,051,830 $ 903,503 $ 760,910

Totalrevenue was$1,051.8 million forthe year endedDecember31, 2023, compared to $903.5 millionfor thesameperiodin2022.

Theincreasewas primarily driven by growth in TotalPayingUsers,partially offset by unfavorable fluctuations in foreigncurrency

exchange rates.

Bumble AppRevenue was$844.8 millionfor theyear endedDecember 31, 2023, compared to $694.3 million forthe same period in

2022. This increasewas primarily driven by a25.7% increase in Bumble AppPayingUsers to 2.5 million, partially offset by a3.2%

declineinBumbleApp ARPPUto$27.97. TheincreaseinBumbleApp Revenue wasdue to growth in core marketsand international

expansion, partially offset by unfavorable fluctuations in foreigncurrencyexchange rates.

Badoo Appand OtherRevenue was$207.1 millionfor theyear endedDecember 31, 2023, compared to $209.2 million forthe same

period in 2022. This decreasewas primarily driven by a2.8% decreaseinBadoo Appand OtherARPPU to $12.70, partially offset by

a2.0% increaseinBadoo Appand OtherPayingUsers to 1.2 millionand favorable fluctuations in foreigncurrencyexchange rates.

Results forthe year endedDecember31, 2023 reflect thefullimpactofthe Company’sdecisiontoremove allofits apps from the

AppleApp Storeand GooglePlayStore in Russiaand BelarusinMarch 2022, as well as otherglobalmacroeconomic conditions.In

addition, otherrevenue of $23.7 millionfor theyearendedDecember 31, 2023, decreased by $0.6 million, or 2.6%,comparedtothe

same period in 2022.

Totalrevenue was$903.5 million forthe year endedDecember31, 2022, compared to $760.9 millionfor thesameperiodin2021.

Theincreasewas primarily driven by growth in TotalPayingUsers andanincreaseinTotal AverageRevenue perPayingUser.

Bumble AppRevenue was$694.3 millionfor theyear endedDecember 31, 2022, compared to $528.6 million forthe same period in

2021. This increasewas primarily driven by a33.5% increase in thenumberofBumbleApp Paying Usersto2.0 million, partially

offset by a1.6% decreaseinBum bleApp ARPPUto$28.90. TheincreaseinBumbleApp Revenue wasdue to higherre-engagement

in core marketsand internationalexpansion, partiallyoffset by fluctuations in foreigncurrencyexchange rates.

Badoo Appand OtherRevenue was$209.2 millionfor theyear endedDecember 31, 2022, compared to $232.3 million forthe same

period in 2021. This decreasewas primarily driven by a15.4% decreaseinthe numberofBadoo Appand OtherPayingUsers to 1.2

milliondue to theCompany’sdecision to remove allofits apps from theAppleApp Storeand GooglePlayStore in Russiaand

BelarusinMarch 2022 andthe continuedimpact of COVIDand macroeconomic conditions.The decreaseinBadoo Appand Other

Revenue wasalsodrivenbya0.5% decrease in Badooand OtherARPPU to $13.06. In addition, otherrevenue of $24.3 millionfor

2022, increasedby$11.6 million, or 92.1%,comparedtothe same period in 2021.

Cost of revenue

(inthousands,exceptpercentages)

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

Cost of revenue $ 307,835 $ 249,490 $ 205,573

Percentage of revenue 29.3% 27.6% 27.0%

Cost of revenue forthe year ended December 31, 2023 increasedby$58.3 million, or 23.4%,ascomparedtothe same period in 2022,

driven primarily by growth in in-app purchasefees due to increasing revenue.Asapercentage of revenue, cost of revenuefor theyear

endedDecember 31, 2023 was29.3%,comparedto27.6% forthe same period in 2022 primarily due to theadoptionofGooglePlay

billinginmanyofour marketsand to alesserextentanincreaseincloud hosting, bulkmessaging andcontentmoderation costs.

Cost of revenue forthe year ended December 31, 2022 increasedby$43.9 million, or 21.4%,ascomparedtothe same period in 2021,

driven primarily by growth in in-app purchasefees due to increasing revenue.Asapercentage of revenue, cost of revenuefor theyear

endedDecember 31, 2022 was27.6%,comparedto27.0% forthe same period in 2021 primarily driven by an increase in fees due to

theadoptionofGooglePlaybillinginmanyofour markets, partially offset by thereduced GooglePlayservice fees forsubscriptions

whichhas declined from30% to 15%.

Selling andmarketing expense

(inthousands,exceptpercentages)

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

Selling andmarketing expense $ 270,380 $ 249,269 $ 211,711

Percentage of revenue 25.7% 27.6% 27.8%

Selling andmarketing expensefor theyearended December31, 2023, incr eased by $21.1 million, or 8.5%,ascompared to thesame

period in 2022. Thechangewas primarily due to a$14.0 millionincreaseindigital andsocialmedia marketingcosts anda$6.5

millionincreaseinpersonnel-relatedexpenses.

Selling andmarketing expensefor theyear ended December31, 2022, increased by $37.6 million, or 17.7%,ascompared to thesame

period in 2021. This change wasprimarily due to a$34.0 millionincreaseindigital andbrand marketingcosts anda$9.5 million

increase in personnel-relatedexpenses,partially offset by a$4.9 milliondecrease in stock-basedcompensationdue to forfeitures.

Generaland administrativeexpense

(inthousands,exceptpercentages)

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

Generaland administrativeexpense $ 221,649 $ 308,855 $ 257,489

Percentage of revenue 21.1% 34.2% 33.8%

Generaland administrativeexpensefor theyear endedDecember31, 2023, decreased by $87.2 million, or 28.2%,ascomparedtothe

same period in 2022. Thechange wasprimarily driven by a$145.4 million decreaseinimpairmentcharges,which includesa$141.0

millionBadoo brandimpairmentand a$4.4 millionMoscowright-of-use assetimpairmentfrom2022, as well as a$3.6 million

decrease in personnel-relatedexpenses. Thesedecreases were partiallyoffset by a$46.4 millionincreaseinprofessionaland

transactioncosts anda$17.5 milliondecrease in gain resulting from thechange in thefairvalue of thecontingent earn-out liabilities.

Generaland administrativeexpensefor theyear endedDecember31, 2022 increased by $51.4 million, or 19.9%,ascomparedtothe

same period in 2021. Thechange wasprimarily driven by a$119.0 million increaseinimpairmentcharges,which includesa$141.0

millionBadoo brandimpairment, anda$4.4 millionMoscowright-of-use assetimpairmentin2022, compared to $26.4 million

impairmentchargeinwhite labelcontractsin2021. In addition, a$21.7 millionincreaseinpersonnel-relatedexpenses,a$7.8 million

increase in professionaland transactioncosts anda$4.6 millionincreaseininsurance expenses.These increaseswerepartially offset

by adeclineof$103.1 millioninthe fair valueofthe contingent earn-out liabilities.

Product developmentexpense

(inthousands,exceptpercentages)

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

Productdevel opm entexpense $ 130,565 $ 109,020 $ 113,764

Percentage of revenue 12.4% 12.1% 15.0%

Productdevel opm entexpense forthe year ended December 31, 2023, increasedby$21.5 million, or 19.8%,ascompared to thesame

period in 2022, primarily driven by a$19.6 million increaseinpersonnel-relatedexpenses.

Productdevel opm entexpense forthe year ended December 31, 2022, decreasedby$4.7 million, or 4.2%,ascompared to thesame

period in 2021. This change wasprimarily driven by a$11.2 milliondecrease in stock-basedcompensationdue to forfeitures, partially

offset by a$4.8 millionincreaseinpersonnel-relatedexpenses.

Depreciationand amortization expense

(inthousands,exceptpercentages)

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

Depreciationand amortizationexpense $ 68,028 $ 89,713 $ 107,056

Percentage of revenue 6.5% 9.9% 14.1%

Depreciationand amortizationexpensefor theyear ended December31, 2023, decreasedby$21.7 million, or 24.2%,ascompared to

thesameperiodin2022. Thedecreaseindepreciationand amortizationexpensewas primarily due to thefullamortizationofthe

legacy Badoo user base in July 2022. Thesedecreases were partially offset by increasesinthe amortizationofintangibles acquired

fromthe Official acquisitioninApril 2023.

Depreciationand amortizationexpensefor theyear ended December31, 2022, decreasedby$17.3 million, or 16.2%,ascompared to

thesameperiodin2021. Thedecreasewas primarily due to thefullamortizationofthe legacy Badoo user base in July 2022 andwhite

labelcontractsin2021, whichare no longerbeing amortized.These decreases were partially offset by in creases in theamortizationof

intangibles acquiredfromthe Fruitz acquisitioninJanuary 2022.

Interest income (expense),net

(inthousands,exceptpercentages)

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

Interest income (expense),net $ (21,534) $ (24,063) $ (24,574)

Percentage of revenue (2.0)% (2.7)% (3.2)%

Interest expense, netfor theyearended December31, 2023, decreased $2.5 million, or 10.5%,ascompared to thesameperiodin

2022. Thechange wasdue to theCompany investingsurplus funds in moneymarketfunds sincethe fourth quarter of 2022, partially

offset by an increaseininterestrates on our outstanding debt underthe Credit Agreement.

Interest expense, netfor theyearended December31, 2022, decreased $0.5 million, or 2.1%,ascompared to thesameperiodin2021.

Thedecrease wasprimarily due to the repaymentof$200.0 millionofdebtinMarch 2021, as well as theCompany investingsurplus

funds in moneymarketfunds in thefourth quarter of 2022 creating interest income,partially offset by an increaseininterestrates on

our outstanding debt underthe Credit Agreement.

Otherincome(expense),net

(inthousands,exceptpercentages)

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

Otherincome(expense),net $ (26,537) $ 16,189 $ 3,160

Percentage of revenue (2.5)% 1.8% 0.4%

Otherincome(expense),net forthe year ended December31, 2023, decreased by $42.7 million, or 263.9%,ascomparedtothe same

period in 2022. Thechange wasprimarily due to a$30.9 milliondecreaseinnet gainsoninterestrateswaps,a$5.9 milliondecrease

in netforeign currencyexchange gains, a$5.0 millionlossrecognizedfor theincreaseintax receivableagreement liability,and a$0.8

milliondecreaseinfairvalue of investmentsinequity securities.

Otherincome(expense),net forthe year ended December31, 2022, increased by $13.0 million, or 412.3%,ascomparedtothe same

period in 2021. Thechange wasprimarily due to a$10.5 millionincreaseinnet gainsoninterestrateswaps,a$3.8 millionincreasein

netforeign currencyexchangegains,a$3.4 millionlossonextinguishment of long-term debt recognized in 2021 when we repaid

$200.0 millionofdebtinMarch 2021, partially offset by a$4.2 million loss recognized forthe increaseintax receivableagreement

liability,and a$1.0 milliondecreaseinfairvalue of investmentsinequity securities.

Income taxprovision

(inthousands,exceptpercentages)

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

Income taxbenefit (provision) $ (7,170) $ (3,406) $ 437,837

Effectiveincometax rate 135.2% (3.1)% 280.5%

Forfurther detail of income taxmatters,see Note 4, Income Taxes,within theauditedconsolidated financialstatementsappearing

elsewhereinthisAnnualReportonForm10-K.

Income taxprovision was$7.2 million forthe year endedDecember31, 2023, compared to $3.4 millionfor theyear ended

December31, 2022, primarily due to theimpactofincometax rate changesonour deferredtax balances recorded in 2022.Inaddition,

theincometax provision forthe yearsended December31, 2022 andDecember31, 2023 reflect theimpact of our assessment that we

will not be able to realizethe benefitofcertain deferredtax assets arisinginthe current year forwhich avaluation allowancehas been

recorded.

Income taxprovision was$3.4 million forthe year endedDecember31, 2022, compared to an income taxbenefit of $437.8 million

forthe year endedDecember31, 2021, whichincludesa$441.5 milliontax benefitrelated to thereversalofanetdeferredtax liability

due to therestructuring of our internationaloperations.

TheOrganisationfor Economic Co-operationand Development(“OECD”)and participatingcountries continue to work toward the

enactment of a15% globalminimumcorporatetax forcompani es with globalrevenuesand profitsabove certain thresholds (referred

to as Pillar 2),with certain aspectsofPillar2effectiveJanuary 1, 2024 andother aspectseffectiveJanuary 1, 2025. Member states

have begun to enact therules,with some countries acceleratingthe impact of theserules by proposingimmediatestatutory rate

increases. Anumberofcountries,including theUKand EU member states,haveagreedtoadopt theOECD’sminimum taxrules and

severalcountries,including theUK, have alreadyimplemented theserules.The phasedimplementationofthese rulesisexpected to

beginfor our fiscal year 2024. We expect Pillar2couldhaveamaterialimpact on our effectivetax rate andour consolidated results of

operation, financialposition, andcashflows.Wewill monitorthe applicationofthese rulesastheycontinue to evolve.

Non-GAAP FinancialMeasures

We reportour financialresults in accordance with GAAP,however,managementbelievesthatcertain non-GAAP financialmeasures

provide usersofour financialinformationwith useful supplementalinformationthatenables abettercomparisonofour performance

acrossperiods.Webelieve Adjusted EBITDA providesvisibilitytothe underlying continuing operating performance by excluding the

impactofcertain expenses,including income tax(benefit) provision, interest (income) expense, net, depreciationand amortization

expense, stock-basedcompensationexpenses,employercosts relatedtostock-based compensation, foreignexchange (gain) loss,

changesinfairvalue of contingent earn-out liability,interestrateswaps andinvestmentsinequity securities, transactionand other

costs, litigationcosts netofinsurance reimbursementsthatarise outside of theordinarycourse of business, taxreceivableagreement

liability remeasurement(benefit) expenseand impairment loss,asmanagementdoesnot believe theseexpenses arerepresentativeof

our core earnings.

We also provide Adjusted EBITDA margin,which is calculatedasAdjustedEBITDAdivided by revenue.Inaddition to Adjusted

EBITDA andAdjustedEBITDAmargin, we believe freecashflowand freecashflowconversionprovide useful information

regardinghow cash providedby(used in)operating activities compares to thecapitalexpendituresrequiredtomaintainand grow our

business, andour availableliquidity,after funding such capitalexpenditures, to serviceour debt,fund strategicinitiatives,effectuate

discretionary sharerepurchases andstrengthenour balancesheet,aswellasour ability to convert our earnings to cash.Additionally,

we believe such metricsare widely used by investors, securitiesanalysis, ratings agencies andother partiesinevaluatingliquidity and

debt-service capabilities. We calculatefreecashflowand free cashflowconversionusing methodologies that we believecan provide

useful supplementalinformationtohelpinvestorsbetterunderstand underlying trends in our business.

Ournon-GA AP financialmeasuresmay not be comparable to similarlytitledmeasures used by othercompanies,havelimitations as

analytical toolsand shouldnot be considered in isolation, or as substitutesfor analysis of our operating results as reportedunder

GAAP. Additionally,wedonot consider our non-GAAP financialmeasures as superior to,orasubstitute for, theequivalent measures

calculatedand presentedinaccordancewith GAAP.Someofthe limitations are:

• Adjusted EBITDA andAdjustedEBITDAmarginexclude therecurring, non-cash expenses of depreciationand

amortizationofpropertyand equipmentand definite-lived intangible assets and, although theseare non-cash expenses,the

assets beingdepreciated andamortized mayhavetobereplaced in thefuture;

• Adjusted EBITDA andAdjustedEBITDAmargindonot reflect changesin, or cashrequirementsfor,our workingcapital

needs;

• Adjusted EBITDA andAdjustedEBITDAmarginexclude stock-basedcompensationexpenseand employercosts relatedto

stock-basedcompensation, whichhas been,and will continue to be forthe foreseeable future,animportant part of how we

attractand retain our employees andasignificantrecurring expenseinour business;

• Adjusted EBITDA andAdjustedEBITDAmargindonot reflect theinterest(income)expense, netorthe cash requirements

to serviceinterestorprincipal payments on our indebtedness, andfreecashflowdoesnot reflectthe cashrequirementsto

serviceprincipal payments on ourindebtedness;

• Adjusted EBITDA andAdjustedEBITDAmargindonot reflect income tax(benefit) provision we arerequiredtomake;

and

• Free cashflowand freecashflowconversiondonot representour residualcashflowavailablefor discretionary purposes

anddoesnot reflect our future contractualcommitments.

Adjusted EBITDA is not aliquidity measureand shouldnot be considered as discretionary cashavailable to us to reinvest in the

growth of our businessortodistributetostockholders or as ameasureofcashthatwillbeavailable to us to meet our obligations.

To properlyand prudently evaluate our business, we encourageinvestorstoreviewthe financialstatementsincludedelsewhere in this

AnnualReport, andnot rely on asinglefinancial measuretoevaluateour business. We also stronglyurgeinvestorstoreviewthe

reconciliationofnet earnings (loss) to Adjusted EBITDA,the computationofAdjustedEBITDAmarginascomparedtonet earnings

(loss) margin whichisnet earnings (loss) as apercentageofrevenue,the reconciliationofnet cash providedby(used in)operating

activitiestofreecashflow, andthe computationoffreecashflowconversionascomparedtooperatingcashflowconversion, whichis

netcashprovidedby(used in)operating activities asapercentage of netearnings (loss) in each caseset forthbelow.

We define Adjusted EBITDA as netearnings (loss) excluding income tax(benefit) provision, interest (income) expense, net,

depreciationand amortizationexpense, stock-basedcompensationexpense, employercosts relatedtostock-based compensation,

foreignexchange(gain)loss, changesinfairvalue of contingent earn-out liability,interestrateswaps andinvestmentsinequity

securities,transactionand othercosts,litigationcosts netofinsurance reimbursementsthatarise outsideofthe ordinary course of

business, taxreceivable agreementliability remeasurement(benefit) expenseand impairmentloss. Adjusted EBITDA margin

represents Adjusted EBITDA as apercentage of revenue.

We define freecashflowasnet cashprovidedby(used in)operating activitieslesscapitalexpenditures. Free cashflowconversion

represents freecashflowasapercentage of Adjusted EBITDA. Operatingcashflowconversionrepresentsnet cashprovidedby(used

in)operating activitiesasapercentage of netearnings (loss).

Thefollowing tablereconcilesour non-GAAPfinancial measures to themostcomparableGAAP financialmeasures forthe periods

presented:

(inthousands,exceptpercentages)

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

Netearnings (loss)

$ (1,868) $ (114,124) $ 281,740

Addback:

Income tax(benefit) provision 7,170 3,406 (437,837)

Interest (income) expense, net 21,534 24,063 24,574

Depreciationand amortizationexpense 68,028 89,713 107,056

Stock-basedcompensationexpense 104,338 111,008 123,910

Employercosts relatedtostock-based compensation

(1)

4,535 2,054 2,438

Litigationcosts,net of insurancereimbursements

(2)

71,918 22,734 6,943

Foreignexchange (gain) loss

(3)

2,185 (3,679) 132

Changesinfairvalue of interest rate swaps

(4)

13,806 (17,086) (6,593)

Transactionand othercosts

(5)

2,309 5,226 22,491

Changesinfairvalue of contingent earn-out liability (29,569) (47,134) 55,900

Changesinfairvalue of investments 843 18 (1,100)

Taxreceivableagreementliability remeasurementexpense

(6)

10,341 5,332 1,112

Impairment loss

(7)

—

145,388 26,431

Adjusted EBITDA $ 275,570 $ 226,919 $ 207,197

Netearnings (loss) margin

(8)

(0.2)% (12.6)% 37.0%

Adjusted EBITDA margin 26.2% 25.1% 27.2%

Netcashprovidedbyoperatingactivities

$ 182,086 $ 132,941 $ 104,837

Less:

Capitalexpenditures (14,935) (16,333) (13,653)

Free cashflow $ 167,151 $ 116,608 $ 91,184

Operatingcashflowconversion * (116.5)% 37.2%

Free cashflowconversion 60.7% 51.4% 44.0%

*Not meaningful

(1)RepresentsemployerportionofSocialSecurityand Medicare payrolltaxes domestically,NationalInsurance contributions

in theUnitedKingdom andcomparablecosts internationallyrelated to thesettlement of equity awards.

(2)Representscertain litigationcosts andinsurance proceedsassociated with pending litigations or settlementsoflitigation.

Includesamountsaccruedwith respecttothe litigationrelated to the BiometricInformation Privacy Act, themass

arbitrations and theCompany’sclass actionlawsuit relatedtothe secondary public stockoffering, representing

management’s then-current estimated probablelossfor this matter. SeeNote19, Commitments and Contingencies,tothe

auditedconsolidated financialstatementsincludedin“Item 8―FinancialStatementsand Supplementary Data.”

(3)Representsforeign exchange (gain) loss due to foreigncurrencytransactions.

(4)Representsfairvalue (gain) loss on interest rate swaps.

(5)Representstransaction costsrelated to acquisitions andour offerings (IPO, theReorganizationTransactions,secondary

offerings,and sharerepurchases)suchaslegal,accounting, advisory fees andother relatedcosts.Amount for2021 also

includesaloss on debt extinguishment relatedtothe repaymentof$200.0 millionunderthe IncrementalTermLoan

Facility.Amount for2022 also includesemployee-relatedrestructuring costsdirectly associated with our decision to

discontinue our operations in Russiaincluding severancebenefits, relocationcosts andadvisory fees.

(6)Representsrecognized adjustmentstothe taxreceivableagreementliability.

(7)Representsimpairmentlossincurredonwhite labelcontractsin2021 andimpairmentlossofthe Badoo brandand aright-

of-use assetrelated to our Moscow office in 2022.

(8)Net earnings (loss) margin forthe year endedDecember31, 2021 includesa$441.5 milliontax benefitrelated to the

reversal of adeferredtax liability due to arestructuring of theCompany’sinternationaloperations.

Liquidity andCapital Resources

Overview

As of December31, 2023, we had$355.6 mi llionofcashand cashequivalents, adecreaseof$46.9 millionfromDecember 31, 2022

primarily due to sharerepurchases,cashdistributionpaymentstothe noncontrollinginterestholders andthe acquisitionofOfficial,

partially offset by cashgenerated from operations. TheCompany’s principalsources of liquidity areour cashand cash equivalentsand

cashgenerated fromoperations.Our primaryusesofliquidity areoperatingexpenses andcapitalexpenditures, funding our debt

obligations,partnership taxdistributions,payingincometaxes andobligations underour taxreceivableagreementand effectuating

sharerepurchases as discussedbelow.Based on current conditions,webelieve that we have sufficientfinancial resources to fund our

activitiesand executeour businessplans duringthe next twelve months.

In May2023, our BoardofDirectorsapprovedasharerepurchaseprogram of up to $150.0 millionofour outstanding ClassA

commonstock.InNovember 2023, theCompany announced an increaseinthe sharerepurchaseprogram authorized amount from

$150.0 millionto$300.0 million. Bumble intends to usethe program to repurchasesharesonadiscretionary basisfromtimetotime,

subject to generalbusinessand market conditions andother investment opportunities, through openmarketpurchases,privately

negotiatedtransactions in compliancewith Rule 10b-18 underthe Exchange Actorother means, including through 10b5-1trading

plans. This repurchaseprogram maybecommenced,suspendedordiscontinuedatany time.InDecember 2023, theCompany and

Bumble Holdings enteredintoanagreementwithBlackstone in aprivate transactionunderthe Company’sexistingshare repurchase

program,underwhich theCompany agreed to repurchase approximately 4.0 millionsharesofits ClassAcommon stockbeneficially

ownedbyBlackstone andBumbleHoldings agreed to repurchasefromBlackstone approximately 3.2 millionCommonUnits,which

areexchangeable forsharesofClass Acommonstock on aone-for-one basis, foranaggregatepurchaseprice of $100 million. During

theyearendedDecember31, 2023, we repurchased 7.8 millionsharesofClass Acommonstock and3.2 millionCommonUnits for

$157 million. As of December 31, 2023, atotal of $143 millionremains availablefor repurchaseunderthe repurchaseprogram.

On February 27, 2024, we announced that theCompany intends to reduceits globalworkforce. We expect to incurapproximately $20

millionto$25 millionofnon-recurring charges. Substantially allofthese chargesare expected to result in future cash outlays

primarily in thefirst andsecondquartersof2024. SeeNote20, Subsequent Events,for additionalinformation.

Cash Flow Information

Thefollowing tablesummarizes our consolidated cashflowinformation forthe periods presented:

(inthousands)

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

Netcashprovidedby(used in):

Operatingactivities $ 182,086 $ 132,941 $ 104,837

Investingactivities (24,755) (86,053) (12,484)

Financingactivities (198,891) (14,954) 151,486

Operatingactivities

Netcashprovidedbyoperatingactivitieswas $182.1 million, $132.9 millionand $104.8 millionfor theyearsendedDecember31,

2023, 2022 and2021, respectively. Operatingactivitieswereprimarily driven by netlossof$1.9 millionfor theyear ended

December31, 2023, netlossof$114.1 million forthe year endedDecember31, 2022 andnet earnings of $281.7 million forthe year

endedDecember 31, 2021.

Netlossfor theyearendedDecember31, 2023 wasimpacted by stock-basedcompensationof$104.3 million, depreciationand

amortizationof$68.0 million, change in fair valueofdeferredcontingent considerationof$29.6 million, an increaseinour tax

receivableagreement liability remeasurementexpenseof$10.3 million, anddeferredincometax of $7.2 million. Netlossfor theyear

endedDecember 31, 2022 wasimpacted by stock-basedcompensationof$111.0 million, impairmentlossesof$145.4 million,

depreciationand amortizationof$89.7 million, change in fair valueofdeferredcontingent considerationof$47.1 millionand deferred

income taxof$5.5 million. Netearnings in theyear endedDecember 31, 2021 wasprimarily driven by $441.5 million taxbenefit

relatedtothe reversal of adeferredtax liability due to arestructuring of theCompany’sinternationaloperations,partlyoffset by

stock-basedcompensationof$123.9 million, depreciationand amortizationof$107.1 million, changesinthe fair valueofthe

contingent earn-out liability of $55.9 millionand an impairmentlossof$26.4 millioninrelationtothe white labelcontracts.

Theincreaseincashprovidedby(used in)operatingactivitiesfor theperiods presentedwas partly offset by changesinassets and

liabilities, whichincreased$8.7 million, decreased$34.9 millionand decreased $56.5 millioninthe yearsendedDecember31, 2023,

2022 and2021, respectively.

Investingactivities

Netcashusedininvestingactivitieswas $24.8 million, $86.1 million and$12.5 million forthe yearsendedDecember31, 2023, 2022

and2021, respectively. The Companyused$9.8 million (net of cashacquired) forthe acquisition of Official forthe year ended

December31, 2023 and$69.7 million (net of cashacquired) forthe acquisition of Fruitz forthe year endedDecember31, 2022.

Capitalexpenditureswere$14.9 million, $16.3 million, $13.7 millioninthe yearsendedDecember31, 2023, 2022 and2021,

respectively.

Financingactivities

Netcashusedinfinancingactivitieswas $198.9 millionand $15.0 millionfor theyearsendedDecember31, 2023 and2022,

respectively. Netcashprovidedbyfinancing activitieswas $151.5 millionfor theyear endedDecember31, 2021. Forthe year ended

December31, 2023, theCompany used $112.8 millionfor sharerepurchases of our ClassAcommon stockand Bumble Holdings used

$44.3 millionfor therepurchaseofCommonUnits and$19.3 millionfor cashdistributions to thenoncontrollinginterestholders.

During each of theyearsended December31, 2023 and2022, theCompany used $5.8 milliontorepay aportionofthe outstanding

indebtedness underour Original Term Loan.For theyear endedDecember31, 2021, theCompany receivednet proceedsof$2,361.2

millioninour IPOafter deductingunderwritingdiscountsand commissions,ofwhich $1,991.6 millionwas used to redeem shares of

ClassAcommonstock andpurchaseCommonUnits fromour Sponsor and$200.0 millionwas used to repayaportionofthe

outstanding indebtedness underour IncrementalTermLoanFacility.Inaddition, forthe yearsendedDecember31, 2023, 2022 and

2021, theCompany used $16.7 million, $9.2 millionand 9.3 million, respectively, forshareswithheld to satisfy employeetax

withholding requirementsupon vestingofrestrictedstock units.

Indebtedness

Senior SecuredCreditFacilities

In connectionwith theSponsor Acquisition, in January2020, we enteredintoacredit agreement(the“Credit Agreement”)providing

for(i) atermloanfacility in an original aggregateprincipal amount of $575.0 million(the“Original Term Loan Facility”)and (ii) a

revolving facility in an aggregateprincipal amount of up to $50.0 million. In connectionwith atransactionwhereby we distributed

proceedstoour pre-IPOownersand to partially repayaloan fromour Founder, in October2020, we enteredintoanIncremental term

loan facility (the “Incremental Term Loan Facility”and together with theOriginalTermLoanFacility,the “SeniorSecured Credit

Facilities”)inanoriginalaggregateprincipal amount of $275.0 million. TheIncremental Term Loan Facility providesfor additional

senior securedtermloans with substantially identical termsasthe Original Term Loan Facility (other than theapplicable margin). A

portionofthe netproceedsfromthe IPOwas used to repay$200.0 million aggregateprincipal amount of our outstanding indebtedness

underour Term Loan Facility in thethree months endedMarch 31, 2021. TheCreditAgreementwas furtheramendedinMarch 2023,

pursuanttowhich theinterestratebenchmark referenced to LIBORwas transitionedtoTermSOFR. Theborrowerunderthe Credit

Agreementisawholly ownedsubsidiaryofBumbleHoldings,BuzzFinco L.L.C. (the “Borrower”). TheCreditAgreementcontains

affirmativeand negativecovenantsand customaryeventsofdefault.

Borrowings underthe Credit Agreementbearinterestatarate equalto, at theBorrower’s option, either (i)LIBOR priortoMarch 31,

2023 andAdjustedTermSOFRbeginning March31, 2023 forthe relevant interest period, adjusted forstatutory reserverequirements

(subject to afloor of 0.0% on theOriginalTermLoanand loansunderthe Revolving Credit Facility and0.50% on theIncremental

Term Loan), plus an applicable margin or (ii) abaserateequaltothe highest of (a)the rate of interest in effect as last quoted by the

WallStreet Journalasthe “Prime Rate”inthe UnitedStates, (b)the federalfunds effectiverateplus0.50% and(c) adjusted LIBOR

priortoApril 1, 2023 andAdjustedTermSOFRbeginning April1,2023, foraninterestperiodofone monthplus1.00% (subjecttoa

floor of 0.00% perannum),ineach case,plusanapplicable margin.The applicable margin forloans underthe Revolving Credit

Facility is subject to adjustment basedupon theconsolidated firstliennet leverage ratioofthe Borrowerand itsrestrictedsubsidiaries

andissubjecttoreduction afterthe consummationofour IPO.

In addition to paying interest on theout standing principalunderthe Credit Agreement, theBorrowerisrequiredtopay acommitment

feeof0.50% perannum (which is subject to adecreaseto0.375% perannum basedupon theconsolidated firstlie nnet leverage ratio

of theBorrowerand its restricted subsidiaries)tothe lenders underthe Revolving Credit Facility in respect of theunutilized

commitmentsthereunder.The Borrowermustalsopay customaryletterofcreditfees andanannualadministrativeagencyfee.

TheOriginalTermLoanFacility amortizes in equalquarterly installmentsinaggregateannualamountsequalto1.00% of the

principalamount of theOriginalTermLoanFacility outstanding as of thedateofthe closingofthe Original Term Loan Facility,with

thebalance beingpayable at maturity on January29, 2027. TheIncremental Term Loan Facility amortizes in equalquarterly

installments in aggregateannualamountsequalto1.00% of theprincipal amount of theIncremental Term Loan Facility outstanding

as of thedateofthe closingofthe IncrementalTermLoanFacility,withthe balancebeing payableatmaturityonJanuary 29, 2027.

Following the$200.0 millionaggregateprincipal paymentofoutstanding indebtedness duringthe threemonths endedMarch 31,

2021, quarterly installment payments on theIncremental Term Loan Facility arenolongerrequiredfor theremaining term of the

facility.Principal amountsoutstanding underthe Revolving Credit Facilityare due andpayable in full at maturity on January 29,

2025.

ContractualObligations andContingencies

Thefollowing tablesummarizes our contractualobligations as of December31, 2023 (inthousands):

Payments due by period

Less than

1year

1to3

years

3to5

years

More than

5years Total

Long-term debt $ 5,750 $ 11,500 $ 609,813 $

—

$ 627,063

Operatingleases 1,412 7,806 6,730 418 16,366

Other 10,673 2,628

—

13,301

Total $ 17,835 $ 21,934 $ 616,543 $ 418 $ 656,730

In connectionwith theIPO,inFebruary2021, we enteredintoataxreceivableagreementwith certain of our pre-IPOownersthat

providesfor thepayment by theCompany to such pre-IPOownersof85% of thebenefits that theCompany realizes,orisdeemedto

realize, as aresultofthe Company’sallocable shareofexistingtax basisacquiredinour IPOand othertax benefits relatedtoentering

into thetax receivableagreement. Thepaymentsunderthe taxreceivableagreementare not conditionedupon continuedownership of

theCompany by thepre-IPO owners.

Thepaymentsthatwemay be required to make underthe taxreceivableagreementtothe pre-IPOownersmay be significantand are

not reflectedinthe contractualobligations tableset forthabove as they aredependent upon future taxableincome. Assumingno

material changesinthe relevant taxlaw,and that we earnsufficienttaxable income to realizeall taxbenefitsthatare subjecttothe tax

receivableagreement,weexpect future payments underthe taxreceivable agreementrelated to theOffering Transactions and

subsequent activitythrough December 31, 2023 to aggregateto$721.0 millionand to range overthe next 15 yearsfromapproximately

$16.7 millionto$73.6 millionper year anddecline thereafter. In determiningthese estimatedfuturepayments, we have given

retrospectiveeffect to certain exchangesofCommonUnits forClass Asharesthatoccurredafter theIPO but were contemplated to

have occurredpursuanttothe BlockerRestructuring. Theforegoing numbers aremerelyestimates,and theactualpaymentscould

differmaterially. SeeNote5,PayabletoRelated PartiesPursuant to a TaxReceivableAgreement, foradditionalinformation.

In connectionwith theSponsor AcquisitioninJanuary 2020, we enteredintoacontingent considerationarrangement,consisting of an

earn-out paymenttothe former shareholders of WorldwideVisionLimited of up to $150.0 million. Thetimingand amount of such

payments,thatwemay be requiredtomake, is not reflected in thecontractualobligations tableset forthabove as thepayment to the

former shareholders of WorldwideVisionLimitedisdependent upon theachievement of aspecified return on invested capital by our

Sponsor.See Note 11, Fair ValueMeasurements, foradditionalinformation.

In May2023, theCompany amendedanagreement forthird-party cloud services,which superseded andreplacedthe September2022

agreement. Underthe amendedterms,the Companyiscommittedtopay aminimumof$12.0 millionoverthe period of 18 months.If

at theend of the18months,orupon earlytermination, theCompany hasnot reached the$12.0 millioninspend, theCompany will be

requiredtopay forthe differencebetween thesum of fees alreadyincurredand theminimumcommitment.AsofDecember 31, 2023,

our minimum commitment remainingis$8.4 million.

Critical Accounting Policiesand Estimates

Ourconsolidated financialstatementshavebeen prepared in accordance with GAAP,which oftenrequire us to make estimatesand

assumptions that affect thereportedamountsofassets, liabilities, revenue,expenses,and relateddisclosures.Our estimatesare based

on historical experience,current conditions andvarious otherassumptions that we believetobereasonableunderthe circumstances.

We evaluate our critical estimatesand assumptions on an ongoing basis. Actual resultsmay differfromthese estimatesunder different

assumptions or conditions.

Thecritical accountingestimates,assumptions,and judgments that we believe to have themostsignificantimpactonour consolidated

financialstatementsare describedbelow.Thisdiscussion is providedtosupplementthe descriptions of our accountingpolicies

containedinNote2,Summary of Selected Significant AccountingPolicies, within theauditedconsolidated financialstatements

includedelsewhere in this AnnualReportonForm10-K.

Business Combination

We estimate thefairvalue of assets acquiredand liabilities assumedinabusinesscombination. Goodwill as of theacquisitiondateis

measured as theexcessofconsideration transferredoverthe netofthe acquisitiondatefairvaluesofthe assets acquiredand the

liabilitiesassumed. Such valuations require management to make significantestimates andassumptions,especially with respect to

intangibleassets.Management’sestimatesoffairvalue arebased upon assumptions believedtobereasonable, but whichare

inherently uncertain andunpredictable, and as aresult, actual resultsmay differfromestimates.

Goodwill is tested forimpairmentataminimumonanannualbasis,aswellasupon an indicator of impairment. Goodwill is tested for

impairmentatthe reportingunitlevel by firstperformingaqualitativeassessmenttodetermine whetheritismorelikelythannot that

thefairvalue of thereportingunitislessthanits carryingvalue.Ifthe reportingunitdoesnot pass thequalitativeassessment, then

quantitativeassessmentisperformedtocompare thereportingunit’scarryingvalue to its fair value. Alternatively, we arepermittedto

bypass thequalitativeassessmentand proceed directly to performingthe quantitativeassessment. Goodwillisconsidered impaired if

thecarryingvalue of thereportingunitexceedsits fair value. Thefairvalue of thereporting unitisbased on adiscounted cashflow

modelinvolving severalassumptions. Therewerenoimpairmentcharges recorded forgoodwill forthe yearsendedDecember31,

2023, 2022 and2021, respectively.

Contingent considerationarrangementsare recognized at theiracquisitiondatefairvalue andincludedaspartofpurchaseprice at the

acquisition date.These contingent considerationarrangementsare classified as liabilitiesand areremeasured to fair valueateach

reportingperiod, with anychange in fair valuebeing recognizedin“Generaland administrativeexpense” in theconsolidated

statements of operations.The estimatedfairvalue of thecontingent considerationisbased primarily on estimatesofmeetingthe

applicable contingencyconditions as perthe termsofthe applicable agreements.

ImpairmentofIndefinite-Lived Intangible Assets

We test indefinite-lived intangible assets forimpairmentannuallyonthe firstday of thefourth quarter or more frequently if indicators

of impairmentexist.The accountingguidanceprovidesusthe optiontofirst assess qualitativefactorssuchasmacroeconomic

conditions,industryand market considerations,costfactors,overall financialperformance andother relevant entity-specificeventsto

determinewhether it is more likelythannot that thefairvalue of an indefinite-lived intangibleassetislessthanits carryingvalue.

If, basedonareview of qualitative factorsitismorelikelythannot that thefairvalue of an indefinite-lived intangibleasset is less than

its carrying value, we proceedtocompare thefairvalue of theindefinite-lived intangibleassetwithits carryingamount.Weevaluate

thefairvalue of theindefinite-lived assetbyusing therelieffromroyaltymethodology basedonmanagement’sassumptions.Ifthe

carryingvalue of an indefinite-lived intangible assetexceedsits estimatedfairvalue,animpairmentequaltothe excessisrecorded.

During our annualimpairmenttestingfor theyearendedDecember31, 2022, theCompany determined that an indefinite long-lived

assetwas impairedand recognizedanimpairmentchargeof$141.0 millionin“Generaland administrativeexpense” within the

accompanying consolidated statements of operations.For additionalinformation, seeNote8,Goodwill and IntangibleAssets, within

theauditedconsolidated financialstatementsincludedelsewhere in this AnnualReportonForm10-K.

Recoverability of Intangible Assets with Definite Lives

We evaluate definite-lived intangible assets whenever events or changesofcircumstanceindicatethatthe carryingamountsmay not

be recoverable. Recoverability is measured by comparingthe carryingamount of an assetgroup to future undiscounted netcashflows

expected to be generated. We group assets forpurposes of such review at thelowestlevel forwhich identifiable cash flowsofthe asset

group arelargely independent of thecashflows of theother groups of assets andliabilities. If this comparison indicates impairment,

theamount of impairmenttoberecognized is calculatedasthe differencebetween thecarryingvalue andthe fair valueofthe asset

group.

Unforeseen events,changesincircumstances andmarketconditions andmaterialdifferences in estimatesoffuturecashflows could

adverselyaffect thefairvalue of our assets andcouldresultinanimpairmentcharge. Fair valuecan be estimated utilizinganumberof

techniquesincluding quoted market prices,prices forcomparableassets,orother valuationprocessesinvolving estimatesofcash

flows, multiplesofearnings or revenues, andwemay make various assumptions andestimateswhenperformingour impairment

assessments,particularly as it relatestocashflowprojections.Cashflowestimatesare by theirnaturesubjectiveand include

assumptions regardingfactorssuchasrecentand forecastedoperatingperformance,revenue trends andoperatingmargins.These

estimatescould also be adverselyimpactedbychangesinfederal,state,orlocal regulations,economic downturns or developments,or

othermarketconditions affectingour industry.

During thefourth quarter of theyearendedDecember31, 2021, theCompany determined that an individualdefinite long-lived asset

wasimpairedand recognizedanimpairmentchargeof$26.4 millionin“Generaland administrativeexpense” within the

accompanying consolidated statements of operations. Foradditionalinformation, seeNote8,Goodwill and IntangibleAssets,within

theauditedconsolidated financialstatementsincludedelsewhere in this AnnualReportonForm10-K.

Stock-based Compensation

TheCompany issues stock-basedawardstoemployees that aregenerally in theformofstock options,restrictedshares, incentive

units,orrestrictedstock units (“RSUs”).Compensationcostfor equity awards is measured at theirgrant-datefairvalue,and in the

caseofrestrictedsharesand RSUs is estimatedbased on thefairvalue of theCompany’sunderlying commonstock.The grantdate

fair valueofstock options is estimatedusing theBlack-Scholes optionpricing modelfor time-vestingawardsoraMonteCarlo

simulation approach in an optionpricing framework forexit-vestingawards. Theserequire management to make assumptions with

respect to thefairvalue of theCompany’s equity awardonthe grantdate, including theexpected term of theaward,the expected

volatility of theCompany’sstock calculatedbased on aperiodoftime generally commensurate with theexpected term of theaward,

risk-freeinterestrates andexpected dividend yields of theCompany’sstock.For time-vestingawards, compensationcostis

recognizedoverthe requisite serviceperiod, whichisgenerally thevestingperiod, usingthe graded attributionmethod.

At theIPO date,the Companyconcludedthatour public offering representedaqualifying liquidity eventthatwouldcause the

performance conditions to be probable of occurring. As such,compensationexpensefor performance-basedstock awards was

recognizedoverthe requisite serviceperiodonastraight-linebasis as achievement wasprobable. On July 15, 2022, theExit-Vesting

awards,with vestingbased on certainperformance conditions,weremodified to also provide fortime-basedvestingin36equal

installments andwebegan to recognize incrementalstock-based compensationassociated with themodificationofthese awards using

thegradedattributionmethod.

Forperiods priortothe Company’sIPO,the grantdatefairvalue of stock-basedcompensationawardsand theunderlying equity were

determined on each grantdateusing aMonteCarlo model. As theCompany'sequity wasnot publicly traded,there wasnohistory of

market prices forthe Company'sequity.Thus,estimating grantdatefairvalue requiredthe Companytomakeassumptions,including

thevalue of theCompany's equity,expected time to liquidity,and expected volatility.

Foradditionalinformation around theCompany’sstock-based compensationplans,see Note 15, Stock-based Compensation,within

theauditedconsolidated financialstatementsincludedelsewhere in this AnnualReportonForm10-K.

Income Taxes

We aresubject to income taxinmostofthe jurisdictions in whichweoperate.Managementisrequiredtoexercisesignificant

judgmentindetermining our provision forincometaxes.The provision forincometaxes is determined by taking into account

guidancerelated to uncertain taxpositions.Judgmentisrequiredinassessing thetimingand amountsofdeductible andtaxable items.

Deferredtax assets areamountsavailabletoreduceincometaxes payableontaxable income in future yearsand areinitially

recognizedatenact ed taxrates.Tothe extent deferredtax assets arenot expected to be realized,werecord avaluationallowance.

Recognizedincometax positions aremeasuredatthe largestamount that hasagreater than 50% likelihood of beingrealized upon

settlement.Changesinrecognitionormeasurement arereflected in theperiodinwhich thechange in judgmentoccurs.

Although we believethatwehaveadequately reserved forour uncertain taxpositions,wecan provide no assurancethatthe finaltax

outcome of thesematters will not be materially different.Wemakeadjustmentstothese reserves when factsand circumstances

change,suchasthe closingofataxauditorthe refinement of an estimate.Tothe extent that thefinal taxoutcome of thesematters is

different than theamountsrecorded, such differences mayaffect theprovision forincometaxes in theperiodinwhich such

determinationismadeand couldhaveamaterial impactonour financialconditionand results of operations.

TaxReceivableAgreement

Pursuant to thetax receivableagreement(“TRA”),weare requiredtomakecashpaymentstothe TRApartiesequalto85% of thetax

benefits,ifany, that we realize, or in some circumstancesare deemed to realize, as aresultofthe Company’sallocable shareof

existingtax basisacquiredinour IPO, incr eases in our shareofexistingtax basisand adjustmentstothe taxbasis of theassets of

Bumble Holdings as aresultofsales or exchangesofCommonUnits (including CommonUnits issued upon conversionofvested

Incentive Units), andour utilizationofcertain taxattributes of theBlocker Companies(including theBlocker Companies’ allocable

shareofexistingtax basis) andcertain othertax benefits relatedtoenteringintothe TRA. Actual taxbenefitsrealized by theCompany

maydifferfromtax benefits calculatedunderthe TRAasaresult of theuse of certain assumptions in theTRA,including theuse of an

assumedweighted-average stateand local income taxratetocalculate taxbenefits.Paymentstobemadeunderthe TRAwill depend

upon anumberoffactors,including thetimingand amount of our future income.Ifwedonot generate sufficienttaxable income in the

aggregateoverthe term of theTRA to utilizethe taxbenefits,thenwewouldnot be requiredtomakethe relatedTRA Payments.

Therefore, we onlyrecognize aliabili ty forTRA payments if we determinethatitisprobablethatwewillgeneratesufficientfuture

taxableincomeoverthe term of theTRA to utilizethe relatedtax benefits.Estimating future taxableincomeisinherently uncertain

andrequiresjudgment. In projectingfuturetaxable income,weconsiderour historical results andincorporatecertain assumptions,

including projected revenue growth,and operating margins, amongothers. Thereisnomaximum term forthe TRAand theTRA will

continue until allsuchtax benefits have been utilized or expiredunlessweexerciseour right to terminatethe TRAfor an agreed-upon

amount equaltothe estimatedpresent valueofthe remainingpaymentstobemadeunderthe agreement(calculatedwithcertain

assumptions,including as to utilizationofthe taxattributes).

Upon redemption or exchange of common units in Bumble Holdings,werecord aliability relatingtothe obligationifwebelieve that

it is probablethatwewouldhavesufficientfuturetaxable income to utilizethe relatedtax benefits.Ifwedetermine in thefuturethat

we will not be able to fullyutilizeall or part of therelated taxbenefits, we wouldderecognize anyportion of theliability relatedtothe

benefits not expected to be utilized.Additionally, we estimate theamount of TRAPaymentsexpected to be paid within thenext12

months andclassify this amount as current on our consolidated balancesheets. To theextentour estimate differs fromactualresults,

we mayberequiredtoreclassify portions of our liabilitiesunderthe TRAbetween current andnon-current.

TheCompany is entitledtocertain depreciationand amortizationdeductions as aresultofits allocable shareofexistingtax basis

acquiredinthe IPOand increasesinits allocableshare of existing basisand adjustmentstothe taxbasis of theassetsofBumble

Holdings as aresultofsales or exchangesinconnectionwith theorsubsequent to IPO. Thereissignificantexistingtax basisinthe

assets of Bumble Holdings as aresultofthe Sponsor Acquisition. Taxbenefits we anticipate beingabletorealizeare includedin

“Accruedexpenseand othercurrent liabilities.”The ability of thedeferredtax assets to be realized is evaluatedbased on allpositive

andnegativeevidence, including future reversalsofexistingtaxable temporarydifferences,projected future taxableincome, tax

planning strategies andrecentresults of operations.Wewill assess theability of thedeferredtax assets to be realized at each reporting

period, andachange in our estimate of our liabilityassociatedwith theTRA mayresultasadditionalinformationbecomesavailable,

including results of operations in future periods.Tothe extent that we determinethatweare able to realizethe taxbenefitsassociated

with thebasis adjustmentsand netoperatinglosses, we wouldrecord an additionalliability.

Foradditionalinformation around theTax Receivable Agreement, seeNote5,PayabletoRelated PartiesPursuant to aTax

ReceivableAgreement,within theauditedconsolidated financialstatementsincludedelsewhere in this AnnualReportonForm10-K.

AccountingPronouncements NotYet Adopted

Recently-issued accountingpronouncements that mayberelevanttoour operations but have not yetbeen adopted areoutlined in Note

2, Summary of Selected Significant AccountingPolicies,withinthe auditedconsolidated financialstatementsappearingelsewhere in

this AnnualReportonForm10-K.

Item 7A.Quantitativeand QualitativeDisclosures AboutMarketRisk

ForeignCurrencyExchangeRisk

We conductbusinessincertain foreign markets, primarily in theUnitedKingdomand theEuropean Union. Forthe yearsended

December31, 2023, 2022 and2021, revenue outside of NorthAmerica accounted for43.2%,39.5% and42.3% of consolidated

revenue,respectively. Ourprimary exposuretoforeign currencyexchange risk is theunderlying user’s functionalcurrencyother than

theU.S.Dollar, primarily theBritishPound andEuro. As foreigncurrencyexchange rateschange,translation of thestatementsof

operations of our internationalbusinessesintoU.S.dollars affectsyear-over-year comparability of operatingresults.The averageEuro

andBriti sh Pound versus theU.S.Dollarexchange rate was 2.6% and0.4%higher,respectively, in theyearendedDecember31, 2023

compared to theyear endedDecember31, 2022.

Historically,wehavenot hedgedany foreigncurrencyexposures. We have performed asensitivity analysis as of December31, 2023

and2022. Ahypothetical 10% change in BritishPound andEuro, relativetothe U.S. Dollar,wouldhavechangedrevenue by $22.5

millionand $18.2millionfor theyearsended December 31, 2023 and2022, respectively, with allother variablesheldconstant.This

accountsfor 2% of totalrevenue forbothyearsended December31, 2023 and2022. Ourcontinuedinternationalexpansionincreases

our exposuretoexchangeratefluctuations andasaresult such fluctuations couldhaveasignificantimpact on our future resultsof

operations.

Interest Rate Risk

At December31, 2023, we haddebtoutstanding with acarryingvalue of $620.9 million. With considerationofthe financialimpact of

our interest rate swaps, ahypothetical interest rate increaseof1%wouldhaveincreased interest expensefor thethree months ended

andyearendedDecember31, 2023 by $0.7 millionand $2.8 million, respectively, basedupon theoutstanding debt balances and

interest ratesineffectduringthatperiod. Borrowings underour Senior SecuredCreditFacilities bear interest at avariablemarketrate.

In ordertoreducethe financialimpactofincreases in interest rates, theCompany enteredintotwo interest rate swapsfor atotal

notionalamount of $350 milliononJune 22, 2020. Theeffectivedatefor theinterestrateswaps is June 30, 2020 andthe finalmaturity

date is June 30, 2024. Thefinancial impact of theinterestrateswaps is to fixthe variable interest rate elementon$350 millionofthe

long-term debt at arateof0.4008%.

In July 2017, theUK’sFinancial ConductAuthority,which regulatesLIBOR,announced that it intendedtophase out USDLIBOR

fornew loansbythe endof2021 andwouldstoppublishing USDLIBOR afterJune 30, 2023. Thediscontinuation, reform or

replacementofLIBOR mayresultinfluctuatinginterestrates,orhigherinterestrates,which couldhaveamaterialadverseeffect on

our interest expense. In March2023, in connectionwith aBenchmark Discontinuation Event, theCompany enteredintoAmendment

No.2tothe Original Credit Agreement(“AmendmentNo. 2”), whichprovidedfor thetransitionofthe benchmarkinterestratefrom

LIBORtothe Term SecuredOvernight FinancingRate(“SOFR”)pursuanttobenchmark replacementprovisions setforth in the

Original Credit Agreement. Pursuant to theterms of AmendmentNo. 2, effectivewith theinterestperiodbeginning March31, 2023,

LIBORwas replacedwithTermSOFR, aforward-looking term rate basedonSOFR, plus acreditspread adjustment of 0.10% with

respect to theTermLoans and0.00% with respect to loansunderthe Revolving Credit Facility (TermSOFRplussuchcreditspread

adjustment,“Adjusted Term SOFR”).All otherterms of theOriginalCreditAgreement unrelated to thebenchmark replacementand

its incorporationwereunchangedbyAmendment No.2.EffectiveMarch 31, 2023, allTermLoans outstanding arebearinginterest

basedonAdjustedTermSOFRand therewerenoRevolving Credit Loansoutstanding. In April2023, we amendedour interest rate

swapsexpiring in June 2024. Pursuant to this amendment, effectiveonMarch 31, 2023, thebenchmark referenceratewas transitioned

fromLIBOR to Term SOFR andthe variable interest rate elementon$350 million of thelong-term debt wasfixed at arateof

0.3299%.

Item 8. FinancialStatements andSupplementaryData

Report of IndependentRegistered Public AccountingFirmPCAOBID:42

To theShareholders andBoard of DirectorsofBumbleInc.

Opiniononthe FinancialStatements

We have auditedthe accompanying consolidated balancesheetsofBumbleInc.(theCompany) as of December 31, 2023 and2022,

therelated consolidated statements of operations,comprehensive operations,changesinequity andcashflows foreach of thethree

yearsinthe period endedDecember31, 2023, andthe relatednotes (collectivelyreferredtoasthe “consolidated financial

statements”).Inour opinion, theconsolidated financialstatementspresent fairly,inall material respects, thefinancial positionofthe

CompanyatDec ember31, 2023 and2022, andthe results of its ope rations andits cash flowsfor eachofthe threeyears in theperiod

endedDecember 31, 2023, in conformity with U.S. generally acceptedaccountingprinciples.

We also have audited, in accordance with thestandards of thePublic CompanyAccountingOversight Board(UnitedStates)

(PCAOB), theCompany's internal controloverfinancial reporting as of December31, 2023, basedoncriteriaestablishedinInternal

Control-Integrated Frameworkissued by theCommitteeofSponsoringOrganizations of theTreadwayCommission (2013 framework)

andour reportdated February 28, 2024 expressedanunqualifiedopinion thereon.

Basisfor Opinion

Thesefinancial statements arethe responsibility of theCompany's management.Our responsibility is to expressanopinion on the

Company’sfinancial statements basedonour audits.Weare apublic accountingfirmregisteredwiththe PCAOBand arerequiredto

be independent with respect to theCompany in accordance with theU.S.federal securitieslawsand theapplicable rulesand

regulations of theSecurities and Exchange Commission andthe PCAOB.

We conductedour audits in accordance with thestandardsofthe PCAOB.Thosestandardsrequire that we plan andperform theaudit

to obtainreasonableassuranceabout whetherthe financialstatementsare freeofmaterialmisstatement, whetherdue to error or fraud.

Ouraudits includedperformingprocedures to assess therisks of material misstatementofthe financialstatements, whetherdue to

errororfraud, andper formingproceduresthatrespond to thoserisks.Suchprocedures includedexamining, on atestbasis,evidence

regardingthe amountsand disclosuresinthe financialstatements. Ouraudits also includedevaluatingthe accountingprinciplesused

andsignificantestimatesmadebymanagement, as well as evaluating theoverall presentationofthe financialstatements. We believe

that our audits provide areasonablebasis forour opinion.

Critical AuditMatter

Thecritical auditmattercommunicatedbelow is amatterarising from thecurrent period auditofthe financialstatementsthatwas

communicated or requiredtobecommunicated to theauditcommitteeand that:(1) relatestoaccountsordisclosures that arematerial

to thefinancial statements and(2) involvedour especially challenging, subjective, or complexjudgments.The communicationofthe

critical auditmatterdoesnot alterinany wayour opinion on theconsolidated financialstatements, takenasawhole, andweare not,

by communicatingthe critical auditmatterbelow,providing separate opinion on thecritical auditmatteroronthe account or

disclosurestowhich it relates.

Measurementofthe TaxReceivableAgreement Liabili ty

Descriptionofthe Matter

As discussedinNote5of theconsolidated financialstatements, theCompany hasaTaxReceivable

Agreement(“TRA”) with certain currentand historical holders of LimitedPartnership (“LP”)

interests, whichisacontractualcommitment to pay85% of anytax benefits,realized or deemed to be

realized by theCompany, to theparties to theTRA.The TRApaymentsare contingent upon, among

otherthings,the generation of future taxableincomebythe Companyoverthe term of theTRA.The

TRAisalsoimpacted by exchangesofLPinterests forsharesofClass ACompany’sCommonStock.

At December31, 2023, theCompany’sliability due to theholders of LP interestsunderthe TRAwas

$430 million, basedonmanagement’sassessment of theprobability of achieving sufficientfuture

taxableincometorealize thebenefit.

Auditingmanagement’saccount ingfor theTRA liability is especially complexand judgmentalasthe

Company’scal culationofthe TRAliability requiresthe Companytotimelyidentifyall historical basis

differences andsubsequent adjustmentsrelated to exchangesand relatedTRA payments.Italso

requiresestimates of theCompany’sfuturequalifiedtaxable income overthe term of theTRA as a

basistodetermineifthe relatedtax benefits areexpected to be realized.Significantchangesin

estimatescouldhaveamaterial effect on theCompany’sresults of operations.

HowWe

Addressedthe

MatterinOur

Audit

We obtainedanunderstanding, evaluatedthe design andtestedthe operating effectivenessofinternal

controls overmanagement’scalculation of TRAliability.For example, we tested controls over

management’s inputsand review of such inputsutilized in theTRA liability calculation, including

exchanges, taxbasis andestimatedtaxable income.

We tested themeasurement of theCompany’sTRA liabilitybyperformingauditprocedures that

included, among others,recalculatingthe Company’sshare of thetax basisinthe netassetsofthe LP

andtesting thecalculation of theoutside basisadjustments as aresultofexchangesand TRApayments

giventhattheyimpactthe TRAliability.Totestthe Company’sestimate of sufficientfuturetaxable

income to realizethe taxbenefits, we evaluatedthe assumptions used by management to developthe

projections of future taxableincome. Forexample,wecomparedmanagement’sprojections of future

taxableincomewiththe actualresults of priorperiods,aswellasmanagement’sconsiderationof

current industryand economic trends.Werecalculatedthe TRAliability andcomparedthe calculation

of theTRA liability to theterms setout in theTRA.

/s/Ernst &YoungLLP

We have served as theCompany’sauditorsince 2020.

Austin,Texas

February 28, 2024

Report of IndependentRegistered Public AccountingFirmPCAOBID:42

To theShareholders andBoard of DirectorsofBumbleInc.

OpiniononInternalControl Over FinancialReporting

We have auditedBumbleInc.’sinternalcontrol overfinancial reporting as of December31, 2023, basedoncriteriaestablishedinthe

Internal Control—Integrated Frameworkissued by theCommitteeofSponsoringOrganizations of theTreadwayCommission (2013

framework)(theCOSOcriteria).Inour opinion, Bumble Inc. (the Company) maintained,inall material respects,effectiveinternal

controloverfinancial reportingasofDecember31, 2023, basedonthe COSO criteria.

We also have audited, in accordance with thestandards of thePublic CompanyAccountingOversight Board(UnitedStates)

(PCAOB), theconsolidated balancesheetsofthe CompanyasofDecember31, 2023 and2022, therelated consolidated statements of

operations,comprehensive operations,changesinequityand cashflows foreach of thethree yearsinthe period endedDecember31,

2023, andthe relatednotes andour reportdated February 28, 2024, expressedanunqualifiedopinion thereon.

Basisfor Opinion

TheCompany’smanagementisresponsible formaintaining effectiveinternalcontroloverfinancial reporting andfor its assessmentof

theeffectivenessofinternalcontroloverfinancial reportingincludedinthe accompanying Management’s ReportonInternalControl

Over FinancialReporting. Ourresponsibility is to expressanopinion on theCompany’sinternalcontroloverfinancial reportingbased

on our audit. We areapublic accountingfirmregisteredwiththe PCAOB andare requiredtobeindependent with respect to the

Companyinaccordance with theU.S.federal securitieslawsand theapplicable rulesand regulations of theSecuritiesand Exchange

Commissionand thePCAOB.

We conductedour auditinaccordance with thestandardsofthe PCAOB.Thosestandardsrequire that we plan andperform theaudit

to obtainreasonableassuranceabout whethereffectiveinternalcontroloverfinancial reportingwas maintained in allmaterialrespects.

Ourauditincludedobtaining an understanding of internal controloverfinancial reporting, assessing theriskthatamaterial weakness

exists,testing andevaluatingthe design andoperatingeffectivenessofinternalcontrolbased on theassessed risk,and performingsuch

otherprocedures as we considered necessaryinthe circumstances.Webelieve that our auditprovidesareasonablebasis for our

opinion.

Definition andLimitations of Internal ControlOverFinancial Reporting

Acompany’sinternalcontroloverfinancial reportingisaprocessdesignedtoprovide reasonableassurance regardingthe reliability of

financialreportingand thepreparation of financialstatementsfor external purposes in accordance with generally acceptedaccounting

principles.Acompany’sinternalcontroloverfinancial reporting includesthosepoliciesand procedures that (1)pertain to the

maintenanceofrecords that,inreasonabledetail, accurately andfairlyreflect thetransactions anddispositions of theassetsofthe

company; (2)provide reasonableassurance that transactions arerecordedasnecessary to permit preparationoffinancial statements in

accordance with generally accepted accountingprinciples, andthatreceiptsand expendituresofthe companyare beingmadeonlyin

accordance with authorizations of management anddirectorsofthe company; and(3) provide reasonableassuranceregarding

prevention or timely detectionofunauthorized acquisition, use, or dispositionofthe company’sassets that couldhaveamaterial

effect on thefinancial statements.

Because of itsinherent limitations,internalcontrol overfinancial reportingmay not preventordetect misstatements. Also,projections

of anyevaluationofeffectivenesstofutureperiods aresubject to theriskthatcontrols maybecome inadequate because of changesin

conditions,orthatthe degree of compliancewith thepoliciesorprocedures maydeteriorate.

/s/Ernst &YoungLLP

Austin,Texas

February 28, 2024

Bumble Inc.

Consolidated BalanceSheets

(inthousan ds,exceptshare andper shareinformation)

December31,

2023

December31,

2022

ASSETS

Cash andcashequivalents $ 355,642 $ 402,559

Accountsreceivable,net 102,677 66,930

Othercurrent assets 34,732 31,882

Totalcurrent assets 493,051 501,371

Right-of-use assets 15,425 17,419

Propertyand equipment, net 12,462 14,467

Goodwill 1,585,750 1,579,770

Intangibleassets,net 1,484,290 1,524,428

Deferredtax assets,net 27,029 24,050

Othernoncurrent assets 7,120 31,116

Totalassets $ 3,625,127 $ 3,692,621

LIABILITIESAND SHAREHOLDERS'EQUITY

Accountspayable $ 4,611 $ 3,367

Deferredrevenue 48,749 46,108

Accruedexpenses andother current liabilities 185,799 156,443

Current portion of long-term debt,net 5,750 5,750

Totalcurrent liabilities 244,909 211,668

Long-term debt,net 615,176 619,223

Deferredtax liabilities, net 5,673 8,077

Payabletorelated partiespursuanttoataxreceivableagreement 407,389 385,486

Otherlong-term liabilities 14,707 14,588

Totalliabilities $ 1,287,854 $ 1,239,042

Commitmentsand contingencies(Note 19)

Shareholders’equity:

ClassAcommonstock (par value$0.01 pershare,6,000,000,000 shares

authorized;138,520,102 shares issued and130,687,629 shares outstanding as of December31,

2023; 129,774,299 shares issued and outstanding as of December31, 2022) 1,385 1,298

ClassBcommonstock (par value$0.01 pershare,1,000,000 shares authorized;20shares

issued andoutstanding as of December31, 2023 andDecember31, 2022, respectively)

—

Preferredstock (par value$0.01; 600,000,000 shares authorized;nosharesissued and

outstanding as of December 31, 2023 andDecember 31, 2022, respectively)

—

Treasurystock (7,832,473 andnosharesasofDecember31, 2023 andDecember31, 2022,

respectively) (73,764)

—

Additionalpaid-in capital 1,772,449 1,691,911

Accumulateddeficit (144,084) (139,871)

Accumulatedother comprehensiveincome 79,029 74,477

TotalBumbleInc.shareholders’equity 1,635,015 1,627,815

Noncontrolling interests

702,258 825,764

Totalshareholders’equity 2,337,273 2,453,579

Totalliabilitiesand shareholders’equity $ 3,625,127 $ 3,692,621

Theaccompanying notes areanintegralpartofthese consolidated financialstatements.

Bumble Inc.

Consolidated Statements of Operations

(inthousan ds,exceptper sharedata)

Year Ended

December31,

2023

Year Ended

December31, 2022

Year Ended

December31,

2021

Revenue $ 1,051,830 $ 903,503 $ 760,910

Operatingcosts andexpenses:

Cost of revenue 307,835 249,490 205,573

Selling andmarketing expense 270,380 249,269 211,711

Generaland administrativeexpense 221,649 308,855 257,489

Productdevel opm entexpense 130,565 109,020 113,764

Depreciationand amortizationexpense 68,028 89,713 107,056

Totaloperating costsand expenses 998,457 1,006,347 895,593

Operating earnings (loss) 53,373 (102,844 ) (134,683)

Interest income (expense),net (21,534) (24,063) (24,574)

Otherincome(expense),net (26,537) 16,189 3,160

Income (loss) before income taxes 5,302 (110,718) (156,097)

Income taxbenefit (provision) (7,170) (3,406) 437,837

Netearnings(loss) (1,868) (114,124 ) 281,740

Netearnings (loss) attributable to noncontrolling interests

2,345 (34,378 ) (28,075)

Netearnings (loss) attributable to Bumble Inc. shareholders

$ (4,213) $ (79,746) $ 309,815

Netearnings(loss) pershare attributable to Bumble Inc. shareholders

Basicearnings (loss) pershare $ (0.03) $ (0.62) $ 1.50

Dilutedearnings (loss) pershare $ (0.03) $ (0.62) $ 1.45

Theaccom panying notes areanintegralpartofthese consolidated financialstatements.

Bumble Inc.

Consolidated Statements of Comprehensive Operations

(inthousan ds)

Year Ended

December31,

2023

Year Ended

December31,

2022

Year Ended

December31,

2021

Netearnings (loss)

$ (1,868) $ (114,124) $ 281,740

Othercomprehensive income (loss),net of tax:

Change in foreigncurrencytranslationadjustment 6,230 (6,262) (2,710)

Totalother comprehensiveincome(loss),net of tax 6,230 (6,262) (2,710)

Comprehensiveincom e(loss) 4,362 (120,386) 279,030

Comprehensiveincom e(loss) attributable to noncontrolling

interests 4,023 (36,514) (29,026)

Comprehensiveincom e(loss) attributable to Bumble Inc. shareholders $ 339 $ (83,872) $ 308,056

Theaccom panying notes areanintegralpartofthese consolidated financialstatements.

BumbleI

nc.

Consolidated Statements of ChangesinEquity

(inthousan ds,exceptshare amounts)

ClassA

CommonStock

ClassB

CommonStock

Additional

Paid-in

Treasury

Stock Accumulated

Accumulated

Other

Comprehensive

TotalBumbleInc.

Shareholders' Noncontrolling

Total

Shareholders’

Shares Amount Shares Amount Capital Shares Amount Deficit Income Equity Interests Equity

BalanceasofDecember31, 2022 129,774,299 $ 1,298 20 $

—

$ 1,691,911

—

$ (139,871) $ 74,477 $ 1,627,815 $ 825,764 $ 2,453,579

Netearnings (loss)

—

(4,213)

—

(4,213) 2,345 (1,868)

Stock-basedcompensationexpense

—

10,128

—

10,128 97,057 107,185

Impact of TaxReceivableAgreement due to

exchangesofCommonUnits

—

(32,733)

—

(32,733) (1,757) (34,490)

Cancellationofrestrictedshares (13,935)

—

(51)

—

(51) 51

—

Restricted stockunits issued,net of shares

withheld fortaxes

1,251,201 13

—

(6,236)

—

(6,223) (10,691) (16,914)

Exchange of CommonUnits forClass Acommon

stock

7,508,537 74

—

109,430

—

109,504 (109,504)

—

Distributiontononcontrolling interest holders

—

(19,310) (19,310)

Sharerepurchases

—

7,832,473 (73,764)

—

(73,764) 291 (73,473)

Purchase of CommonUnits

—

(83,666) (83,666)

Othercomprehensive income (loss),net of tax

—

4,552 4,552 1,678 6,230

BalanceasofDecember31, 2023 138,520,102 $ 1,385 20 $

—

$ 1,772,449 7,832,473 $ (73,764) $ (144,084) $ 79,029 $ 1,635,015 $ 702,258 $ 2,337,273

BumbleI

nc.

Consolidated Statements of ChangesinEquity

(inthousan ds,exceptshare amounts)

ClassA

CommonStock

ClassB

CommonStock

Additional

Paid-in

Treasury

Stock Accumulated

Accumulated

Other

Comprehensive

TotalBumble

Inc.

Shareholders'

Noncontrolling

Total

Shareholders’

Shares Amount Shares Amount Capital Shares Amount Deficit Income Equity Interests Equity

BalanceasofDecember31, 2021 129,212,949 $ 1,292 20 $

—

$ 1,588,426

—

$ (60,125) $ 78,603 $ 1,608,196 $ 861,573 $ 2,469,769

Netearnings (loss)

—

(79,746)

—

(79,746) (34,378) (114,124)

Stock-basedcompensationexpense

—

113,994

—

113,994

—

113,994

Impact of TaxReceivableAgreement

due to exchangesofCommonUnits

—

(200)

—

(200)

—

(200)

Cancellationofrestrictedshares (33,272)

—

(292)

—

(292) 292

—

Restricted stockunits issued,net of

shares withheld fortaxes

509,742 5

—

(10,932)

—

(10,927) 1,329 (9,598)

Exchange of CommonUnits forClass A

commonstock

84,880 1

—

915

—

916 (916)

—

Othercomprehensive income (loss),net

of tax

—

(4,126) (4,126) (2,136) (6,262)

BalanceasofDecember31, 2022 129,774,299 $ 1,298 20 $

—

$ 1,691,911

—

$ (139,871) $ 74,477 $ 1,627,815 $ 825,764 $ 2,453,579

BumbleI

nc.

Consolidated Statements of ChangesinEquity

(inthousan ds,exceptshare amounts)

Limited

Partners'

ClassA

CommonStock

ClassB

CommonStock

Additional

Paid-in

Treasury

Stock Accumulated

Accumulated

Other

Comprehensive Noncontrolling

Total

Shareholders’

/Owners'

Equity Shares Amount Shares Amount Capital Shares Amount Deficit Income Interests Equity

BalanceasofJanuary 1, 2021 $ 1,903,121

—

100 $

—

$ 695 $ 176,244 $ 806 $ 2,080,866

Acquisitionofnoncontrollinginterests 806

—

(806)

—

Netearnings priortoReorganizationTransactions

370,635

—

370,635

Stock-basedcompensationexpense 11,587

—

11,587

Effect of theReorganizationTransactions (asadjusted) (2,286,149) 82,642,374 826

—

1,075,019

—

(95,882) 1,306,186

—

RetirementofClass Bcommonstock

—

(80)

—

Issuance of ClassAcommonstock sold in theinitial

public offering, netofoffering costs

—

57,500,000 575

—

2,236,787

—

121,009 2,358,371

'PurchaseofClass ACommonStock in theinitialpublic

offering

—

24,798,848 (1,018,365)

—

(1,018,365)

Purchase of CommonUnits fromPre-IPOCommon

Unitholders in theinitial public offering

—

(609,489)

—

(363,800) (973,289)

Vested Incentive Units

—

(6,385)

—

6,385

—

Issuance of Founderloancommonunits

—

(29,034)

—

29,034

—

Equity plan modificationfromliability to equity settled

due to Reorganization

—

22,107

—

22,107

Impact of TaxReceivable Agreementdue to exchangesof

CommonUnits

—

(387,669)

—

(387,669)

Stock-basedcompensationexpense

—

105,254

—

105,254

Retirementoftreasurystock

—

(24,798,848) (248)

—

(1,018,117) (24,798,848) 1,018,365

—

Cancellationofrestrictedshares

—

(178,806) (1)

—

(2,146)

—

2,147

—

Exercise of options

—

12,668

—

734

—

(189) 545

Restricted stockunits issued,net of shares withheld for

taxes

—

235,148 2

—

(5,227)

—

(3,443) (8,668)

Exchange of CommonUnits forClass Acommonstock

—

13,800,413 138

—

206,592

—

(206,730)

—

Netlosssubsequent to ReorganizationTransactions

—

(60,820)

—

(28,075) (88,895)

Othercomprehensive loss, netoftax

—

(1,759) (951) (2,710)

BalanceasofDecember31, 2021 $

—

129,212,949 $ 1,292 20 $

—

$ 1,588,426

—

$ (60,125) $ 78,603 $ 861,573 $ 2,469,769

Theaccompanying notes areanintegralpartofthese consolidated financialstatements.

Bumble Inc.

Consolidated Statements of Cash Flows

(inthousan ds)

Year Ended

December31, 2023

Year Ended

December31, 2022

Year Ended

December31, 2021

Cash flowsfromoperating activities:

Netearnings (loss)

$ (1,868) $ (114,124) $ 281,740

Adjustmentstoreconcile netearnings (loss) to netcashprovided

by (usedin) operatingactivities:

Depreciationand amortizationexpense 68,028 89,713 107,056

Impairment loss

—

145,388 26,431

Gain on settlementoflease liabilities

—

(2,140)

—

Loss on extinguishment of long term debt

—

3,398

Changesinfairvalue of interest rate swap 13,806 (17,086) (6,593)

Changesinfairvalue of contingent earn-out liability (29,569) (47,134) 55,900

Taxreceivableagreement liabilityremeasurementexpense 10,341 5,332 1,112

Non-cashleaseexpense 3,518 4,539 5,438

Deferredincometax (7,166) (5,454) (448,395)

Stock-basedcompensationexpense 104,338 111,008 123,910

Netforeign exchange difference 923 (3,362) 11,642

Other, net 11,065 1,189 (326)

Changesinassets andliabilities:

Accountsreceivable (36,031) (20,723) (9,953)

Othercurrent assets (2,920) 22,964 24,328

Accountspayable 1,775 (13,997) (3,531)

Deferredrevenue 2,593 5,889 8,654

Legalliabilities 45,240 11,995 (46,377)

Leaseliabilities (3,930) (5,984) (5,464)

Accruedexpenses andother current liabilities 1,485 (34,991) (25,081)

Other, net 458 (81) 948

Netcashprovidedby(used in)operating activities 182,086 132,941 104,837

Cash flowsfrominvesting activities:

Capitalexpenditures (14,935) (16,333) (13,653)

Acquisitionofbusiness, netofcashacquired (9,820) (69,720)

—

Other, net

—

1,169

Netcashprovidedby(used in)investing activities (24,755) (86,053) (12,484)

Cash flowsfromfinancing activities:

Proceedsfromissuance of ClassAcommonstock sold in initialpublic offering, netofoffering costs

—

2,358,371

Payments to purchaseand retirecommonstock

—

(1,018,365)

Purchase of CommonUnits fromPre-IPO Common Unitholders

in theinitialpublic offering

—

(973,289)

Proceedsfromexerciseofoptions

—

545

Repaymentoftermloan (5,750) (5,750) (206,438)

Distributions paid to noncontrolling interest holders (19,310)

—

Sharerepurchases (112,830)

—

Purchase of CommonUnits (44,309)

—

Withholding taxpaidonbehalfofemployees on stock-basedawards (16,692) (9,204) (9,338)

Netcashprovidedby(used in)financing activities (198,891) (14,954) 151,486

Effectsofexchange rate changesoncashand cashequivalents (6,280) 5,933 (2,950)

Netincrease (decrease) in cash andcashequivalents andrestrictedcash (47,840) 37,867 240,889

Cash andcashequivalentsand restricted cash, beginning of theperiod 407,042 369,175 128,286

Cash andcashequivalents andrestrictedcash, endofthe period $ 359,202 $ 407,042 $ 369,175

Less restricted cash (3,560) (4,483)

—

Cash andcashequivalents,end of theperiod $ 355,642 $ 402,559 $ 369,175

Theaccom panying notes areanintegralpartofthese consolidated financialstatements.

Bumble Inc.

Notestothe Consolidated FinancialStatements

Note 1-Organizationand BasisofPresentation

CompanyOverview

Bumble Inc.’s main operations areproviding onlinedatingand social networking applications through subscription andin-app

purchases of products servicingNorth America, Europe andvarious othercountries around theworld.BumbleInc.providesthese

services through websites andapplications that it owns andoperates.

Bumble Inc. (the “Company” or “Bumble”) wasincorporated as aDelawarecorporationonOctober5,2020 forthe purposeof

facilitatinganini tialpublic offering(“IPO”) andother relatedtransactions in ordertooperate thebusinessofBuzzHoldings L.P.

(“Bumble Holdings”) andits subsidiaries.

Priortothe IPOand theReorganizationTransactions,BumbleHoldings L.P. (“Bumble Holdings”),aDelaware limitedpartnership,

wasformedprimarily as avehicle to financethe acquisition (the “Sponsor Acquisition”)ofamajority stakeinWorldwide Vision

Limitedbyagroup of investment funds managedbyBlackstone Inc. (“Blackstone”orour “Sponsor”).AsBumbleHoldings didnot

have anyprevious operations,Worldwide Vision Limited,aBermuda exempted limitedcompany, is viewed as thepredecessorto

Bumble Holdings andits consolidated subsidiaries.

On February 16, 2021, theCompany completedits IPOof57.5 millionsharesofClass Acommonstock at an offering priceof$43.00

pershare andreceivednet proceedsof$2,361.2 million afterdeducting underwritingdiscountsand commissions.The Companyused

theproceedsfromthe issuance of 48.5 millionshares($1,991.6 million) to redeem shares of ClassAcommonstock andpurchase

limitedpartnership interestsofBumbleHoldings (“CommonUnits”) fromentitiesaffiliatedwith our Sponsor,atapriceper share/

CommonUnitequaltothe IPOprice,net of underwritingdiscountsand commissions.

In connectionwith theIPO,the organizationalstructure wasconverted to an umbrella partnership-C-CorporationwithBumbleInc.

becoming thegeneral partnerofBumbleHoldings.The ReorganizationTransactions were accounted forasatransactionbetween

entitiesundercommoncontrol. As aresult, thefinancial statements forperiods subsequent to theSponsor Acquisitionand priortothe

IPOand theReorganizationTransactions have been adjusted to combinethe previously separate entitiesfor presentation purposes.As

thegeneral partner, Bumble Inc. operatesand controls allofthe businessand affairs, andthrough Bumble Holdings andits

subsidiaries,conducts thebusiness. Bumble Inc. consolidates Bumble Holdings in its consolidated financialstatementsand reports a

noncontrollinginterestrelated to theCommonUnits held by thepre-IPOcommonunitholders andthe incentive units held by the

continuing incentive unitholders in theconsolidated financialstatements.

Assumingthe exchange of alloutstanding CommonUnits forsharesofClass Acommonstock on aone-for-one basisunderthe

exchange agreemententered into by holders of CommonUnits,there wouldbe178,932,121 shares of ClassAcommonstock

outstanding (which doesnot reflect anysharesofClass Acommonstock issuable in exchange foras-converted Incentive Units or

upon settlement of certain otherinterests)asofDecember31, 2023.

Allreferences to the“Company”,“we”, “our”or“us”inthisreport aretoBumbleInc.

SecondaryOfferings

On September15, 2021, theCompany completedasecondary offering of 20.70 million shares of ClassAcommonstock on behalf of

certain sellingstockholders affiliatedwith Blackstone (the “Blackstone SellingStockholders”) at aprice of $54.00 pershare.This

transactionresultedinthe issuance of 9.2 millionsharesofClass Acommonstock forthe period endedSeptember 30, 2021.

On March8,2023, theCompany completedasecondary offering of 13.75 millionsharesofClass Acommonstock on behalf of the

Blackstone SellingStockholders andthe Founderatapriceof$22.80 pershare.Thistransactionresultedinthe issuance of 7.2 million

shares of ClassAcommonstock forthe period endedMarch 31, 2023.

Bumble didnot sell anysharesofClass Acommonstock in thesecondary offerings anddid not receive anyofthe proceedsfromthe

sales. Bumble paid thecosts associated with thesales of shares by theBlackstone SellingStockholders andthe Founder, netofthe

underwritingdiscounts.

BasisofPresentationand Consolidation

TheCompany prepares theconsolidated financialstatementsinaccordance with U.S. generallyacceptedaccountingprinciples

(“GAAP”).The consolidated financialstatementsinclude thefin ancial statements of theCompany, allentitiesthatare wholly-owned

by theCompany andall entitiesinwhich theCompany hasacontrollingfinancial interest.All intercompany transactions andbalances

have been eliminated.

Anoncontrolling interest in aconsolidated subsidiary represents theportion of theequity (net assets)inasubsidiary not attributable,

directly or indirectly,tothe Company. Noncontrollinginterests arepresented as aseparatecomponent of equity in theconsolidated

balancesheetsand thepresentationofnet income is modified to presentearnings andother comprehensiveincomeattributed to

controllingand noncontrolling interests. TheCompany’s noncontrolling interest represents substantiveprofit-sharingarrangements

andprofitand lossesare attributable to controllingand noncontrollinginterests usinganattributionmethod.

Statements of ChangesinEquityReclassification

In thesecond quarter of 2023, theCompany adjusted balances within its Consolidated Statements of ChangesinEquity to correct the

allocationofstock-based compensationof$75.5 millionfromadditionalpaid-in capitaltononcontrollinginterests.Thisamount

relatestoadjustmentstoadditionalpaid-in capitaland noncontrollinginterests that hadbeenincorrectly presentedinthe consolidated

financialstatementsincludedwithinour previously filedQuarterly Reports on Form 10-Qfor thequartersendedMarch 31, 2021

through March31, 2023 andAnnualReports on Form 10-Kfor yearsendedDecember31, 2022 and2021. This classification

adjustment is recorded in “Stock-based compensation expense” within our Consolidated Statements of ChangesinEquity forthe year

endedDecember 31, 2023.

TheCompany concludedthe misclassificationtobeimmaterialtothe consolidated financialstatementsand noted that it hasnoimpact

on previously reportedconsolidated statements of operations,comprehensive operations,and cash flows.

Statements of Operations Reclassification

Beginning on January 1, 2023, theCompany reclassified certain employeeand non-employeerelated expenses,including stock-based

compensation, that supportengineering, data design andproductmanagement, as well as maintenanceand supportcosts for

technology infrastructure, in theConsolidated Statements of Operations to alignwithoperationalfunctions.Toconformtocurrent

year presentation, theCompany hasreclassified $10.4 millionand $7.8 million, respectively, forthe yearsendedDecember31, 2022

and2021 from“Generaland administrative expense” to “Productdevelopmentexpense”. In addition, theCompany hasreclassified

$0.4 millionfor theyear endedDecember31, 2021 from“Generaland administrativeexpense” to “Costofrevenue”.

Certainprior year amountshavebeen reclassified to conformtothe current year presentation.

Note 2-Summary of Selected SignificantAccountingPolicies

UseofEstimates

Thepreparationoffinancial statements in conformity with GAAPrequiresmanagementtomakecertain judgments,estimatesand

assumptions that affect thereportedamountsofassetsand liabilities, revenuesand expenses.The Company’ssignificant estimates

relate to businesscombinations,asset impairments,potentialobligations associated with legalcontingencies, thefairvalue of

contingent consideration, thefairvalue of derivatives, stock-basedcompensation, taxreceivableagreements,and income taxes.

Theseestimates arebased on management’s best estimatesand judgment. Actual results maydifferfromthese estimates.Estimates,

judgments andassumptions arecontinuously evaluatedand arebased on management’s experience andother factors, including

expectations of future events that arebelievedtobereasonableunderthe circumstances. Uncertaintyabout theseassumptions,

judgments andestimatescouldresultinoutcomesthatrequire amaterialadjustmenttothe carryingamount of assets or liabilities

affected in future periods.

Cash,CashEquivalents andRestrictedCash

Cash andcashequivalentsinclude cash in banks,cashonhand, cash in electronicmoneyaccounts, overnight deposits andinvestment

in moneymarketfunds.

As of December31, 2023 andDecember31, 2022, theCompany hasclassified thecashheldinRussiaasrestrictedcashdue to the

sanctions imposed by theRussia-UkraineConflict,which is includedin“Othernoncurrent assets”within theaccompanying

consolidated balancesheets.

AccountsReceivable

Accountsreceivable arerecordednet of an allowancefor credit losses, potentialchargebacksand refunds issued to users. Theamount

of this allowanceisprimarily basedupon historical experience andfutureeconomic expectations.The Companymaintains an

allowancefor expected credit lossestoprovide forthe estimatedamount of accountsreceivablethatwillnot be collected.The

Companydetermines if an allowanceisneededbyconsideringanumber of factors, including theCompany’sprevious loss history, the

lengthoftime accountsreceivableare past due,the specificcustomer’s abilitytopay theobligationtothe Company, reasonableand

supportableforecasts of future economic conditions,and thecurrent economic conditionofthe generaleconomy. As of December31,

2023 and2022, theCompany hadanallowance forcreditlossesof$0.6 millionand $0.5 million, respectively.

ConcentrationofCreditRisk

Financialinstruments,which potentiallysubject theCompany to concentrationofcreditrisk, consistprimarily of cashand cash

equivalentsand accountsreceivable. Cash andcashequivalents areprincipally maintained with majorfinancial institutions,which

management assessestobeofhighcreditquality, in ordertolimit exposureofinvestments. TheCompany hasnot experiencedany

lossesonthese deposits.

TheCompany’saccountsreceivablebalances arepredominantly with third-partyaggregatorsand theseare subject to normalcredit

riskswhich management believes to be not significant. As of December31, 2023 andDecember31, 2022, twothird partyaggregators

accounted forapproximately 94% and90% of theCompany’sgross accountsreceivable, respectively.

Leases

Company as alessee

UnderFinancial AccountingStandards Board(“FASB”)ASC Topic842, Leases,(“ASC 842”), theCompany determines whetheran

arrangement is or contains aleaseatcontract inception. Right-of-use assets andleaseliabilities, whichare disclosedonthe

consolidated balancesheets, arerecognized atthe commencementdateofthe leasebased on thepresent valueofthe leasepayments

overthe leasetermusing theCompany’s incrementalborrowing rate on theleasecommencementdate. If theleasecontains an option

to extend theleaseterm, therenewal optionisconsideredinthe leasetermifitisreasonablycertain that theCompany will exercise

theoption. Operatinglease expenseisrecognizedonastraight-linebasis overthe term of thelease.Variablelease payments consist

primarily of servicecharges,operatingexpenses,and taxes, whichare expensed as incurredand not includedinthe recognitionof

ROUassets andrelated leaseliabilities.Short-termleases, definedasleases with an initialtermoftwelvemonths or less, arenot

recorded on theconsolidated balancesheets.

Company as alessor

Amountsdue fromlessees underfinance leases are recorded as receivablesatthe amount of theCompany’sleasereceivable. Finance

leaseincomeisallocated to accountingperiods so as to reflect aconstant periodicrateofreturnonthe Company’sleasereceivable.

Amountsdue fromlessees underoperatingleasesare recorded as receivablesatthe amount of theCompany’sleasereceivable.

Rental income fromoperatingleases is recognized on astraight-linebasis overthe term of thelease.

Propertyand Equipment, net

Propertyand equipment, netisstatedatcostlessaccumulateddepreciationand accumulated impairment,ifany. Cost of maintenance

andrepairs that do not improve or extend thelives of therespectiveassets areexpensed as incurred.

Depreciationiscalcu latedonastraight-linebasis overthe estimatedusefullives of theassets, as follows:

Leaseholdimprovements Lesser of leasetermorusefullife

Furniture andfixtures 4years

Computer equipment 3years

Internal-Use Software

TheCompany incurs coststodevelop software to be used solely to meet internal needsand applications used to deliver itsservices.

Thesesoftwaredevelopmentcosts meet thecriteriafor capitalizationoncethe preliminaryproject stageiscompleteand it is probable

that theproject will be completed, andthe software will be used to perform thefunctionintended. Costscapitalized duringthe

applicationdevelopmentstage include salaries,benefits,bonus,stock-based compensation, andtaxes foremployees whoare directly

involvedinthe developmentofnew products or features,direct costsofmaterials andservices incurredindeveloping or obtaining

internal-use software andinterestcosts incurred, if applicable.Costs associated with postimplementationactivitiesare expensed as

incurred.

Capitalized software developmentcosts areclassified as intangibles,net on theconsolidated balancesheets. Thecostofinternal-use

software is amortized on astraight-linemethod overthe estimatedusefullifeofthe applicable software whichistypically threeyears.

During theyears endedDecember31, 2023, 2022 and2021, theCompany recorded $4.7 million, $1.9 millionand $0.4 millionof

internal-use software amortization, respectively.

TheCompany hassoftwareapplications that arecloud-basedhostingarrangementswith servicecontracts. TheCompany accountsfor

costsincurredinconnectionwiththe implementationofthese various software systemsunderASU 2018-15, Intangibles—Goodwill

and Other-Internal UseSoftware(Subtopic350-40):Customer’sAccountingfor ImplementationCosts IncurredinaCloud

ComputingArrangement That is aService Contract.Costs that areincurredinthe planning andpost-implementationoperation stages

areexpensed as incurred. Capitalized costsare amortized on astraight-linebasis overthe contract terms. TheCompany starts

amortizing capitalized implementation costswhenthe systemsare placed in productionand readyfor theirintendeduse.

ImpairmentofLong-lived Assets

Long-lived assets,which primarily consistofpropertyand equipmentand right-of-use assets,are reviewed forimpairmentwhenever

events or circumstances indicatethatthe carryingvalue of an assetmay not be recoverable. Thecarryingvalue of along-lived assetis

not recoverableifitexceedsthe sumofthe undiscounted cashflows expected to result fromthe useand eventual dispositionofthe

asset. If thecarryingvalue is deemed not to be recoverable, an impairmentlossisrecorded equaltothe amount by whichthe carrying

valueofthe long-lived as setexceedsits fair value. Theremaining estimated useful livesofpropertyand equipmentand right-of-use

assets areroutinelyreviewedand,ifthe estimate is revised, theremaining unamortized balanceisamortized or depreciatedoverthe

revisedestimated useful life.See Note 9, Restructuring,for additionalinformation on impairment.

Business Combination

TheCompany accountsfor businesscombinations usingthe acquisition method of accounting. Thepurchaseprice is allocated to the

assets acquiredand liabilitiesassumed,including identifiable intangibleassets,based on theirfairvaluesatthe date of acquisition,

with theexceptionofcontract assets andcontract liabilitiesfromcontractswith customers. On January 1, 2022, theCompany adopted

ASU2021- 08, Business Combinations (Topic 805):Accountingfor Contract Assets and Contract LiabilitiesfromContractswith

Customers,underwhich theCompany recognizes and measures revenue contract assets andcontract liabilities(including deferred

revenue)acquiredinabusinesscombination on theacquisitiondateasifthe revenue contractswereoriginatedbythe Companyin

accordance with ASC606, Revenue from Contractswith Customers.The adoptionofASU 2021-08 didnot have amaterialimpactto

theCompany'sconsolidated financialposition, resultsofoperations andcashflows.Any excessofthe amount paid overthe fair

values of theident ifiablenet assets acquiredisallocatedtogoodwill. Thesefairvalue determinations require judgmentand involve the

useofsignificant estimatesand assumptions,including assumptions with respect to future cashinflows andoutflows, discount rates,

assetlives andmarketmultiples, among otheritems.

TheCompany hasentered into contingent earn-out arrangementsthatweredetermined to be part of thepurchaseconsiderationin

connectionwith businessacquisitions.The Companyclassifiedthe arrangementsasaliability at thetime of therelevantacquisition,

as it will be settledincash, andreflected thechangeinthe liability at its current fair valuefor eachsubsequent reportingperiod

thereafter until settled. Thechangesinthe remeasured fair valueofthe relevant contingent earn-out liabilitiesduringeachreporting

period is recognized in “General andadministrativeexpense” in theaccompanying consolidated statements of operations.See Note 6,

Business Combination,for additionalinformation.

Transactioncosts associated with businesscombinations areexpensed as incurred.

Goodwill

Goodwill is theexcessofcostoverthe fair valueofnet assets acquired. Goodwill is not amortized but tested forimpairmentannually

as of October1or more frequently if certaincircumstances indicate apossibleimpairmentmay exist.

TheCompany testsgoodwill forimpairmentatareportingunitlevel.The Companyperformsaqualitativeassessmenttodetermine

whetheritismorelikelythannot that thefairvalue of areportingunitislessthanits carrying value. Thequalitative assessment

includes, but is not limitedto, market andmacroeconomic conditions,costfactors, cash flows, changesinkey management personnel

andour shareprice.The result of this assessment determines whetheritisnecessary to perform aquantitativegoodwillimpairment

test.See Note 8, Goodwill and IntangibleAssets, net,for additionalinformation on goodwill impairment.

Intangible Assets,net

TheCompany testsintangibleassetsthatare not amortized (i.e., Bumble andBadoo brands)for impairmentatthe assetlevel.

Indefinite-lived intangibles are tested forimpairmentannuallyasofOctober1or more frequently if certain circumstances indicatea

possibleimpairmentmay exist. TheCompany performsaqualitativeassessmenttodeterminewhether it is more likely than not that

thefairvalue of theasset is less than its carrying value. If we determinethatitismorelikelythannot that theintangibleassetis

impaired, we perform aquantitativeassessmentbycomparing thefairvalue of theassetwith itscarryingamount.Ifthe fair value,

whichisbased on future cashflows,exceedsthe carrying value, theasset is not considered impaired.Ifthe carryingamount exceeds

thefairvalue,animpairmentlosswouldberecognized in an amount equaltothe excess of thecarryingamount of theasset overthe

fair valueofthe asset.

Intangibleassets with definite lives arereviewedfor impairmentwhenevereventsorcircumstances indicatethatthe carrying valueof

an assetmay not be recoverable. Thecarryingvalue of along-lived assetisnot recoverableifitexceeds thesum of theundiscounted

cashflows expected to result fromthe useand eventual disposition of theasset.Ifthe carryingvalue is deemed nottoberecoverable,

an impairment loss is recorded equaltothe amount by whichthe carryingvalue of thelong-lived assetexceedsits fair value. The

remainingestimatedusefullives of definite-lived intangibleassetsare routinelyreviewedand, if theestimate is revised, theremaining

unamortized balanceisamortized overthe revisedestimatedusefullife. SeeNote8,Goodwilland IntangibleAssets, net,for

additionalinformation on impairment.

Intangibleassets arestatedatcostlessaccumulated amortizationand accumulatedimpairment, if any. Amortizationiscalculatedona

straight-linebasis overthe estimatedusefullives of thedefinite-lived intangibleassets, as follows:

Brand 8-15 years

Trademark 10 years

White labelcontracts 8years

Developedtechnology 5-6years

User base 2.5 -4years

Domain 3years

Investments

TheCompany hascertain investmentsinprivately held companiesand limitedpartnerships. Theseinvestmentsare carried at cost,less

anyimpairments,and areadjustedfor subsequent observableprice changesobt ainedfromorderly transactions foridentical or similar

investmentsissued by thesameinvestee in accordancewith themeasurementalternativeinASC 321, CertaininvestmentinDebtand

Equity Securities.The investmentsare includedin“Othernoncurrent assets”inthe accompanying consolidated balancesheets. Any

gainsorlossesare recorded to “Other income (expense), net” on theaccompanying consolidated statements of operations.

Fair ValueMeasurements

TheCompany follows ASC820, Fair ValueMeasurement,for financialassets andliabilities measured at fair valueonarecurring

basis. TheCompany uses thefairvalue hierarchytocategorizethe financialinstruments measured at fair valuebased on theavailable

inputstothe valuationand thedegreetowhich they areobservableornot observableinthe market.

Thethree levels of thefairvalue hierarchyare as follows:

• Level1—Quoted prices in activemarkets foridentical assets or liabilities.

• Level2—Assets andliabilitiesvaluedbased on observablemarketdatafor similar instruments, such as quoted prices for

similar assets or liabilities.

• Level3—Unobservableinputsfor whichthere is littleornomarketdataand require theCompany to developits own

assumptions,based on thebestinformation available.

SeeNote11, Fair ValueMeasurements,for additionalinformation.

Derivatives

TheCompany uses interest rate derivativeinstruments to manage theriskrelated to fluctuatingcashflows frominterestratechanges

on thedebt. Theseinstruments arenot designatedashedgesfor accountingpurposes andare recorded in “Other current assets,” “Other

noncurrent assets,” “Accruedexpenseand othercurrent liabilities”or“Otherlong-term liabilities,”with changesinfairvalue

recognizedin“Otherincome(expense),net.”

Share Repurchase Program

Shares repurchased pursuanttothe Company'sshare repurchaseprogram areheldastreasurystock andreflected as areductionof

stockholders'equity within theaccompanying consolidated balancesheets. Upon retirement, theshare repurchases will reduceClass A

commonstock basedonthe parvalue of thesharesand reduceits capitalsurplus forthe excessofthe repurchaseprice overthe par

value. In theevent theCompany still hasanaccumulateddeficit balance, theexcessoverthe parvalue will be appliedto“Additional

paid-incapital.”Oncethe Companyhas retained earnings,the excesswill be chargedentirelytoretainedearnings.

Direct costsand excise taxobligations will be includedinthe cost of therepurchased shares in theCompany’sconsolidated financial

statements.Reductiontothe excise taxobligationassociatedwith subsequent issuance of shares will be reflected as an adjustment to

theexcisetax previously recorded.

Revenue Recognition

TheCompany recognizes revenuefromservices in accordance with FASB ASCTopic606, Revenue from Contractswith Customers

(“ASC606”). UnderASC 606, theCom pany recognizes revenue when or as theCompany’sperformance obligations aresatisfied by

transferring controlofthe promised services to customersinanamount that reflectsthe considerationtowhich theCompany expects

to be entitledinexchange forthoseservices.Todetermine revenue recognitionfor arrangementsthatanentity determines arewithin

thescope of ASC606, theCompany performsthe following five stepsasprescribedbyASC 606:

(i)identifythe contract(s)withacustomer;

(ii) identifythe performance obligations in thecontract;

(iii) determinethe transactionprice;

(iv) allocatethe transactionprice to theperformance obligations in thecontract;and

(v)recognize revenuewhen(or as)the entity satisfiesperformance obligations.

TheCompany onlyappliesthe five-stepmodeltocontractswhenitisprobablethatitwill collect theconsiderationitisentitled to in

exchange forthe goods or services it transferstothe customer.Atcontract inception, oncethe contract is determined to be within the

scope of ASC606, theCompany as sessesthe goods or services promised within eachcontract anddetermines thosethatare

performance obligations andassess whethereach promised good or serviceisdistinct.The Companythenrecognizes as revenuethe

amount of thetransactionprice that is allocated to therespectiveperformance obligationwhen(or as)the performance obligationis

satisfied.

Revenue is primarily derivedinthe form of recurring subscriptions andin-apppurchases.Subscriptionrevenue is presentednet of

taxes, refunds andcreditcardchargebacks.Thisrevenue is initiallydeferredand is recognized usingthe straight-linemethodoverthe

term of theapplicable subscriptionperiod. Revenuefromlifetimesubscriptions is deferredoverthe averageestimatedexpected period

of thesubscriber relationship,which is currently estimatedtobetwelvemonths.Revenue fromthe purchaseofin-appfeatures is

recognizedbased on usageand estimatedbreakagerevenue associated with unused in-app purchases.Unused in-app purchasefees

expire basedonthe termsofthe underlying agreementand arerecognized as revenuewhenitisprobablethatasignificant revenue

reversal wouldnot occur. TheCompany also earns revenue from onlineadvertisingand partnerships.Onlineadvertisingrevenue is

recognizedwhenanadvertisement is displayed. Revenuefrompartnershipsisrecognized accordingtothe contractualterms of the

partnership.

As permitted underthe practical expedientavailable underASC 606, theCompany doesnot disclose thevalue of unsatisfied

performance obligations for(i) contractswith an original expected lengthofone year or less, and(ii)contractsfor whichthe Company

recognizesrevenue at theamount whichithas theright to invoice forservices performed.

During theyears endedDecember31, 2023, 2022 and2021, therewerenocustomers representinggreater than 10% of totalrevenue.

Forthe periods presented, revenue across apps wasasfollows:

(inthousands)

Year Ended

December31, 2023

Year Ended

December31, 2022

Year Ended

December31, 2021

Bumble App $ 844,774 $ 694,329 $ 528,585

Badoo Appand Other 207,056 209,174 232,325

TotalRevenue $ 1,051,830 $ 903,503 $ 760,910

Assets Recognized from theCosts to Obtain aContractwith aCusto mer

TheCompany hasdetermined that certain costspaidtothird partyaggregators, primarily mobile appstore fees,meet therequirements

to be capitalized as acostofobtaining acontract.These costsare capitalized andamortized overthe period of contract performance,

typically overthe term of theapplicable subscription period, andexpensed to cost of revenue.

DeferredRevenue

Deferredrevenue consists of advancepaymentsthatare receivedorare contractually due in advanceofthe Company’sperformance.

TheCompany’sdeferredrevenue is reportedonacontract by contract basisatthe endofeach reportingperiod. TheCompany

classifies deferredrevenue as current when thetermofthe applicable subscriptionperiodorexpected completionofthe performance

obligationisone year or less.The deferredrevenue balanceis$48.7 millionand $46.1 millionatDecember 31, 2023 and2022,

respectively, allofwhich is classified asacurrent liability.Duringthe yearsendedDecember31, 2023, 2022 and2021, theCompany

recognizedrevenue of $46.1 million, $39.6 million, and$30.9 million, respectively, that wasincludedinthe deferredrevenue balance

at thebeginning of eachrespectiveperiod.

AdvertisingCosts

Advertisingcosts areexpensed in theperiodinwhich theservices arefirst deliveredtothe Company. Wheremedia space is purchased

in advance, expenseisdeferreduntil theadvertisingservice hasbeenreceivedbythe Company. Advertisingcosts representonline

marketing, including fees paid to search enginesand social me di asites, brandmarke tingsuchasout of homeand television

advertising, fieldmarketing andpartner-relatedpaymentstothosewho direct traffictothe Company’splatforms .Advertisingexpense

was$221.0 million, $207.7 millionand $175.0 millionfor theyearsendedDecember31, 2023, 2022 and2021, respectively.

Debt Issuance Costs

Costsincurredinconnectionwithobtaining newdebtfinancing aredeferredand amortized overthe life of therelated financing. If

such financingissettledorreplaced priortomaturity with debt instrumentsthathavesubstantiallydifferent terms, thesettlement is

treated as an extinguishment andthe unamortized costsare chargedtogainorlossonextinguishment of debt.Ifsuchfinancing is

settledorreplaced with debt instrumentsfromthe same lenderthatdonot have substantiallydifferent terms, thenew debt agreement

is accounted forasamodificationfor theprior debt agreementand theunamortized costsremaincapitalized,the neworiginalissuance

discount costsare capitalized.The newlenders pro-rata portionofthird-party fees aredeductedfromthe carryingvalue of theloans as

additionaldiscounts. Forexistinglenders,the pro-rata portion of third-partyfeesare expensed as incurred. Deferredcosts are

recognizedasadirect reductioninthe carryingamount of thedebtinstrumentonthe consolidated balancesheetsand areamortized to

interest expenseoverthe term of therelated debt usingthe effectiveinterestmethod.

Income Taxes

TheCompany accountsfor income taxesunderthe liabilitymethod, anddeferredtax assets andliabilities arerecognizedfor thefuture

taxconsequences attributable to differences between thefinancial statementcarryingvaluesofexistingassets andliabilitiesand their

respectivetax bases. Deferred taxassetsand liabilitiesare measured usingenacted taxrates in effect forthe year in whichthose

temporarydifferences areexpected to be recoveredorsettled.Avaluationallowanceisprovidedifitisdetermined that it is more

likelythannot that thedeferredtax assetwill not be realized.The Companyrecordsinterest(andpenalties whereapplicable), netof

anyapplicable relatedincometax benefit, on potentialincometax contingenciesasacomponent of income taxprovision.

TheCompany evaluatesand accountsfor uncertain taxpositions usingatwo-step approach.Recognition(step one)occurs when the

Companyconcludesthatataxposition, basedsolelyonits technicalmerits,ismore-likely-than-not to be sustainableupon

examination. Measurement(step two) determines theamount of benefitthatisgreater than 50%likelytoberealized upon ultimate

settlement with ataxingauthoritythathas full knowledge of allrelevantinformation. Derecognition of atax positionthatwas

previously recognized wouldoccurwhenthe Companysubsequently determines that atax positionnolongermeetsthe more likely-

than-not thresholdofbeing sustained. SeeNote4,Income Taxes, foradditionalinformation.

TaxReceivableAgreement

In connectionwith theReorganizationTransactions andthe IPO, theCompany enteredintoataxreceivable agreementwith certain

pre-IPOownerswhereby theCompany agreed to paytosuchpre-IPOowners85% of thebenefits, that theCompany realizes,oris

deemed to realize, as aresultofthe Company'sallocable shareofexistingtax basisacquiredinthe IPO, increases in our shareof

existingtax basisand adjustmentstothe taxbasis of theassets of Bumble Holdings as aresultofsales or exchangesofCommonUnits

(including CommonUnits issued upon conversionofvestedIncentiveUnits), andour utilizationofcertain taxattributes of the

BlockerCompanies (including theBlocker Companies’ allocableshare of existing taxbasis)and certain othertax benefits relatedto

entering into thetax receivableagreement.

Actual taxbenefits realized by theCompany maydifferfromtax benefits calculated underthe taxreceivableagreementasaresult of

theuse of certainassumptions in thetax receivable agreement, including theuse of an assumedweighted-average stateand local

income taxratetocalculate taxbenefits. Payments to be made underthe taxreceivableagreementwilldependupon anumberof

factors, including thetimingand amount of our future income.

TheCompany accountsfor amountspayable underthe taxreceivableagreementinaccordance with ASC450, Contingencies.As

such,subsequent changesinthe fair valueofthe taxreceivableagreementliabilitybetween reporting periods arerecognized in the

consolidated statements of operations.

SeeNote5,PayabletoRelated PartiesPursuant to aTax ReceivableAgreement,for additionalinformationonthe taxreceivable

agreement.

ForeignCurrencies

TheCompany’sconsolidated financialstatementsare presentedinU.S.dollars,which is theCompany’sfunctionalcurrency. The

financialpositionand operatingresults of foreignentitieswhoseprimary economic environmentisbased on theirlocal currency are

consolidated usingthe localcurrencyasthe functionalcurrency. Theselocal currencyassets andliabilitiesare translated into U.S.

dollars at therates of exchange as of thebalance sheet date,and local currencyrevenue andexpenses of theseoperations aretranslated

at averagerates of exchange duringthe period. Translationgains andlossesare includedinaccumulatedother comprehensiveincome

as acomponent of shareholders’equity.Transactiongains andlossesresultingfromassets andliabilitiesdenominated in acurrency

otherthanthe functionalcurrencyare includedin“Otherincome(expense),net”inthe accompanying consolidated statements of

operations.For theyearsended December31, 2023, 2022 and2021, theCompany recorded again(loss) of $(2.2) million, $3.7

millionand $(0.1) million, respectively.

RestructuringCharges

Restructuringcharges,associatedwithoffice closureorexitingamarket,consistprimarily of severance, relocation, right-of-use asset

impairmentand otherrelated costs. TheCompany evaluatesthe nature of thesecosts to determineiftheyrelatetoongoing benefit

arrangementswhich areaccounted forunderASC 712, Compensation-NonretirementPostemploymentBenefits,orone-timebenefit

arrangementswhich areaccounted forunderASC 420, Exit or Disposal Cost Obligations.The Companyrecordsaliability for

ongoing employee terminationbenefitswhenitisprobablethatanemployeeisentitledtothemand theamount of thebenefitscan be

reasonablyestimated. One-time employeetermination costsare recognized when management hascommunicated theterminationplan

to employees,unlessfutureservice is required,inwhich casethe costsare recognized ratablyoverthe future serviceperiod. Allother

relatedcosts arerecognized when incurred.

Restructuringcharges arerecognized as an operatingexpense within theconsolidated statements of operations andare classified based

on each employee’srespectivefunction.

SeeNote9,Restructuring,for additionalinformation on restructuringcharges.

Earnings (Loss) perShare

Basicearnings (loss) pershare is computed by dividing netearnings (loss) attr ibutable to theCompany by theweighted average

numberofcommonsharesoutstanding duringthe period. Dilutedearnings (loss) pershare is computed by dividing netearnings (loss)

attributable to theCompany by theweighted-average shares outstanding duringthe period afteradjusting forthe impactofsecurities

that wouldhaveadilutive effect on earnings (loss) pershare.

SeeNote14, Earnings (Loss) perShare, foradditionalinformation on dilutivesecurities.

Stock-BasedCom pensation