BREAK --- US - Internet Coverage Cluster BofA Merrill Lynch Investment rating Company ticker Bloomberg symbol Analyst BUY Alphabet GOOGL GOOGL US Justin Post Alphabet GOOG GOOG US Justin Post Amazon.com AMZN AMZN US Justin Post Bankrate RATE RATE US Nat Schindler eBay EBAY EBAY US Justin Post Expedia EXPE

YHOO YHOO US Justin Post Zillow ZG ZGUS Nat Schindler Zillow Z ZUS Nat Schindler NEUTRAL Activision ATVI ATVIUS Justin Post Electronic Arts EA EAUS Justin Post Quotient Technology Inc QUOT QUOT US Nat Schindler Wayfair Ww WUS Justin Post Yelp YELP YELP US Justin Post UNDERPERFORM Care.com CRCM CRCM US Justin

/Risk on page 53. 11729935 Timestamp: 06 April 2017 04:12AM EDT Bankof America Merrill Lynch Equity | 06 April 2017 Americas Internet/e-Commerce Justin Post Research Analyst MLPF&S +1 415 676 3547 [email protected] Nat Schindler Research Analyst MLPF&S +1 415 676 3574 [email protected]

or guide vs actual history). We are =aising our PO to $165 from $150 based on 24x 2018 non-GAAP EPS or 27x =AAP EPS, in-line with expected growth. Justin Post < Research Analyst MLPF&S 3 EFTA_R1_01414367 EFTA02389704 </=able> This report is intended for =o:p class=""> Click here to access the =ese