UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _ to _ Commission File Number: 001-39775 ContextLogic Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 27-2930953 (State or other jurisdicti ...

Washington, D.C. 20549 UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39775 ContextLogic Inc. (Exact name of Registrant as specified in its Charter) Delaware 27-2930953 (State or other jurisdiction of in ...

Financial Data and Key Metrics Changes - In Q4 2021, total revenues were $289 million, a year-over-year decrease of 64%, primarily due to lower ad spend [2] - Adjusted EBITDA for Q4 was a loss of $23 million, an improvement of $95 million from the previous year [2] - Free cash flow was negative $50 million, significantly improved from negative $344 million in Q3 2021 [2] - For the full year 2021, revenues were $2.1 billion, an 18% decline year-over-year [7] - Total net loss for Q4 was $58 million, improving from a loss of $569 million in Q4 2020 [6] - The company ended 2021 with cash, cash equivalents, and marketable securities of $1.2 billion [8] Business Line Data and Key Metrics Changes - Core marketplace revenues for 2021 were $1.3 billion, a decline of 34% year-over-year [7] - Product boost revenues were $165 million, an 18% decline year-over-year [7] - Logistics revenues increased by 45% year-over-year to $743 million, driven by merchant adoption of logistics offerings [7] Market Data and Key Metrics Changes - Monthly active users (MAUs) and last 12 months active buyer count declined by 58% and 41% year-over-year, respectively [6] - The company is focusing on 61 markets after exiting 79 markets that provided nominal revenue but negatively impacted margins [5][12] Company Strategy and Development Direction - The company aims to improve user experience, deepen merchant relationships, and achieve operational efficiencies as foundational pillars for growth [2][5] - A new program called Wish Standards was introduced to reward merchants providing outstanding experiences [4] - The company plans to streamline operations by reducing its global workforce by approximately 15% [5] - The focus will be on key markets in North America and Western Europe for future growth [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that a successful turnaround will take time and emphasizes the need for a consumer-centric approach [10][16] - The company expects to see operational progress later in the year but recognizes that sustainable growth will require several months [10] - Adjusted EBITDA guidance for Q1 2022 is expected to be in the range of negative $70 million to negative $60 million [9] Other Important Information - The company is assessing the feasibility of adding new KPIs to better inform investors about operational and financial performance [10] - Significant cost savings have been achieved, which have helped improve profitability despite revenue declines [8] Q&A Session Summary Question: Focus on geographic markets and AOV strategy - Management confirmed a focus on North America and Western Europe as key markets while aiming to increase average order value (AOV) through better consumer experiences [11][12] Question: Impact of exiting 79 markets on user base - Management indicated that the exit from 79 markets would not materially impact the overall user base and was part of a strategy to reduce operational complexity [13][14] Question: Sales and marketing expense strategy for 2022 - The company plans to keep sales and marketing expenses rationalized until consistent operational improvements are observed, with a potential increase in the second half of 2022 [18][19]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-39775 WASHINGTON, DC 20549 ContextLogic Inc. (Exact Name of Registrant as Specified in its Charter) (I.R.S. Employer Identification No.) Registrant's telephone number, including ar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-39775 ContextLogic Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 27-2930953 (State or other jurisdiction of incorporation or organization) On ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-39775 ContextLogic Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 27-2930953 (State or other jurisdiction of incorporation or organization) O ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K For the fiscal year ended December 31, 2020 (Exact name of Registrant as specified in its Charter) Delaware 27-2930953 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) One Sansome Street 40th Floor San Francisco, CA 94104 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (415) 432-7323 Securities registered pursuant to Sect ...