Life360, Inc. — Capital/Financing Update 2021

Dec 2, 2021

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ASX ANNOUNCEMENT

3 December 2021

Cleansing Notice Under Section 708A(5)(e) of the Corporations Act 2001 (Cth)

As announced on 23 November 2021, Life360, Inc. (ASX: 360) ( Company ) undertook an underwritten placement of new CHESS Depositary Interests ( New CDIs ) to institutional investors ( Institutional Placement ) in conjunction with an accelerated non-renounceable entitlement offer. On 3 December 2021 (Sydney time) (2 December 2021 Pacific Time) the Company issued 13,350,000 New CDIs (representing a beneficial interest in 4,450,000 shares of common stock) at an issue price of $12.00 per CDI.

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ) as modified by ASIC Class Order 14/827 (Offers of CHESS Depositary Interests), ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73 and ASIC Instrument 21-0964 that under the Company’s institutional placement announced on 23 November 2021:

• (a) the Company issued the New CDIs without disclosure to investors under Part 6D.2 of the Act;

• (b) as at the date of this Notice, the Company has complied with:

  • (i) section 601CK of the Act; and

  • (ii) section 674 of the Act; and

• (c) as at the date of this Notice, there is no information that is ‘excluded information’ within the meaning of sections 708A(7) and 708A(8) of the Act.

Authorisation

Chris Hulls, Director, Co-Founder and Chief Executive Officer of Life 360 authorised this announcement being given to ASX.

About Life360

Life360 operates a platform for today’s busy families, bringing them closer together by helping them better know, communicate with and protect the people they care about most. The Company’s core offering, the Life360 mobile app, is a market leading app for families, with features that range from communications to driving safety and location sharing. Life360 is based in San Francisco and had more than 33 million monthly active users (MAU) as at September 2021, located in more than 195 countries.

Life360, Inc. | ABRN 629 412 942 | 539 Bryant St, Suite 402, San Francisco, CA 94107 | Investors.life360.com

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Life360’s CDIs are issued in reliance on the exemption from registration contained in Regulation S of the US Securities Act of 1933 (Securities Act) for offers of securities which are made outside the US. Accordingly, the CDIs, have not been, and will not be, registered under the Securities Act or the laws of any state or other jurisdiction in the US. As a result of relying on the Regulation S exemption, the CDIs are ‘restricted securities’ under Rule 144 of the Securities Act. This means that you are unable to sell the CDIs into the US or to a US person who is not a Qualified Institutional Buyer (QIB) for the foreseeable future except in very limited circumstances until after the end of the restricted period, unless the resale of the CDIs is registered under the Securities Act or an exemption is available. To enforce the above transfer restrictions, all CDIs issued bear a FOR Financial Product designation on the ASX. This designation restricts any CDIs from being sold on ASX to US persons excluding QIBs. However, you are still able to freely transfer your CDIs on ASX to any person other than a US person who is not a QIB. In addition, hedging transactions with regard to the CDIs may only be conducted in accordance with the Securities Act.

Life360, Inc. | ABRN 629 412 942 | 539 Bryant St, Suite 402, San Francisco, CA 94107 | Investors.life360.com

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