X0306 4 2019-04-23 0 0001506293 Pinterest, Inc. NYSE:PINS 0001534338 Bessemer Venture Partners VII L.P. C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVENUE, SUITE 104 LARCHMONT NY 10538 0 0 1 0 0001407577 Bessemer Venture Partners VII Institutional L.P. C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVENUE, SUITE 104 LARCHMONT NY 10538 0 0 1 0 0001459524 BVP VII SPECIAL OPPORTUNITY FUND LP C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVENUE, SUITE 104 LARCHMONT NY 10538 0 0 1 0 0001540731 Deer VII & Co. L.P. C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVENUE, SUITE 104 LARCHMONT NY 10538 0 0 1 0 0001540726 Deer VII & Co. Ltd. C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVENUE, SUITE 104 LARCHMONT NY 10538 0 0 1 0 Common Stock 2019-04-23 4 C 0 59458125 A 59458125 I See Footnotes Common Stock 2019-04-23 4 J 0 59458125 D 0 I See Footnotes Series A-2 Preferred Stock 2019-04-23 4 C 0 52857688 0.00 D Common Stock 52857688 0 I See footnotes Series B Preferred Stock 2019-04-23 4 C 0 2728921 0.00 D Common Stock 2728921 0 I See footnotes Series C Preferred Stock 2019-04-23 4 C 0 2142639 0.00 D Common Stock 2142639 0 I See footnotes Series D Preferred Stock 2019-04-23 4 C 0 1541910 0.00 D Common Stock 1541910 0 I See footnotes Series E Preferred Stock 2019-04-23 4 C 0 114695 0.00 D Common Stock 114695 0 I See footnotes Series F Preferred Stock 2019-04-23 4 C 0 49059 0.00 D Common Stock 49059 0 I See footnotes Series G Preferred Stock 2019-04-23 4 C 0 23213 0.00 D Common Stock 23213 0 I See footnotes Class B Common Stock 2019-04-23 4 C 0 59458125 0.00 A Class A Common Stock 59458125 59458125 I See footnotes On April 23, 2019 prior to the closing of the initial public offering (the "IPO") by Pinterest, Inc. (the "Company"), each share of preferred stock automatically converted into one share of common stock of the Company pursuant to the Sixteenth Amended and Restated Certificate of Incorporation of the Company. Immediately thereafter, but still prior to the closing of the Company's IPO, the Company filed an Amended and Restated Certificate of Incorporation (the "Charter") with the Secretary of State of the State of Delaware, pursuant to which each share of common stock was automatically reclassified into one share of Class B common stock, par value $0.00001, of the Company ("Class B Common Stock") in an exempt transaction pursuant to Rules 16b-6 and 16b-7. As set forth in the Charter, each share of Class B Common Stock is convertible at any time at the option of the holder into one share of the Company's Class A common stock, par value $0.00001, of the Company ("Class A Common Stock"). (Continued from footnote 1) Additionally, each share of Class B Common Stock will, subject to certain exceptions, convert automatically into one share of Class A Common Stock upon any transfer. Following the closing of the IPO, all outstanding shares of Class B Common Stock will convert into shares of Class A Common Stock upon the earlier of (i) (a) 90 days after the death or disability of Benjamin Silbermann and (b) up to 540 days after the death or disability of Benjamin Silbermann (as may be approved by a majority of the independent directors of the Company) and (ii) the seven year anniversary of the closing of the IPO (except with respect to any stockholders who continue to hold at least 50% of the originally issued shares of Class B Common Stock held by such stockholder as of the closing of the IPO). Prior to the conversion, Bessemer Venture Partners VII Institutional L.P. ("BVP VII Inst") held 7,400,114 shares, Bessemer Venture Partners VII L.P. ("BVP VII") held 16,914,503 shares, and BVP VII Special Opportunity Fund L.P. ("BVP VII SOF," together with BVP VII Inst and BVP VII referred to collectively, the "Funds") held 28,543,071 shares, of Series A-2 Preferred Stock. Deer VII & Co. Ltd. ("Deer Ltd.") is the general partner of Deer VII & Co. L.P. ("Deer L.P."), which is the general partner of the Funds. Deer Ltd. and Deer L.P. disclaim beneficial ownership of the securities held by the Funds, and this report shall not be deemed an admission that Deer Ltd. and Deer L.P. are the beneficial owners of such securities, except to the extent of their pecuniary interest therein, if any, by virtue of their direct and indirect general partner interests in the Funds. Prior to the conversion, BVP VII Inst, BVP VII, and BVP VII SOF held 382,050 shares, 873,257 shares and 1,473,614 shares, respectively, of Series B Preferred Stock. Prior to the conversion, BVP VII Inst, BVP VII, and BVP VII SOF held 299,964 shares, 685,650 shares and 1,157,025 shares, respectively, of Series C Preferred Stock. Prior to the conversion, BVP VII Inst, BVP VII, and BVP VII SOF held 215,867 shares, 493,411 shares and 832,632 shares, respectively, of Series D Preferred Stock. Prior to the conversion, BVP VII Inst, BVP VII, and BVP VII SOF held 16,057 shares, 36,702 shares and 61,936 shares, respectively, of Series E Preferred Stock. Prior to the conversion, BVP VII Inst, BVP VII, and BVP VII SOF held 6,867 shares, 15,700 shares and 26,492 shares, respectively, of Series F Preferred Stock. Prior to the conversion, BVP VII Inst, BVP VII, and BVP VII SOF held 3,250 shares, 7,427 shares and 12,536 shares, respectively, of Series G Preferred Stock. As of the date hereof, BVP VII Inst, BVP VII, and BVP VII SOF own 8,324,169 shares, 19,026,650 shares and 32,107,306 shares, respectively, of Class B Common Stock. /s/ Scott Ring, General Counsel, Deer VII & Co. Ltd., the General Partner of Deer VII & Co. L.P., the General Partner of Bessemer Venture Partners VII L.P. 2019-04-25 /s/ Scott Ring, General Counsel, Deer VII & Co. Ltd., the General Partner of Deer VII & Co. L.P., the General Partner of Bessemer Venture Partners VII Institutional L.P. 2019-04-25 /s/ Scott Ring, General Counsel, Deer VII & Co. Ltd., the General Partner of Deer VII & Co. L.P., the General Partner of BVP VII Special Opportunity Fund L.P. 2019-04-25 /s/ Scott Ring, General Counsel, Deer VII & Co. Ltd., the General Partner of Deer VII & Co. L.P. 2019-04-25 /s/ Scott Ring, General Counsel, Deer VII & Co. Ltd. 2019-04-25