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Advance Sublease Agreements

“In connection with our initial public offering, the underwriters reserved up to 1,760,000 shares of Class A common stock, or 8.0% of the shares offered by us in the offering, for sale at the initial public offering price through a directed share program to (i) eligible users and moderators on our platform, (ii) certain members of our board of directors, and (iii) friends and family members of certain of our employees and directors. Our current and former employees were not eligible. David Habiger and Robert A. Sauerberg participated in the directed share program and purchased 3,000 shares and 10,000 shares, respectively, at a purchase price of $34.00 per share, for an aggregate purchase price of approximately $102,000 and $340,000, respectively.”

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Certain Relationships and Related Party Transactions

“We describe below transactions, including any series of similar transactions, since the beginning of our last year, to which we were a party or will be a party, in which (i) the amounts involved exceeded or will exceed $120,000, and (ii) any of our directors, nominees for director, executive officers, or beneficial holders of more than 5% of any class of our outstanding capital stock, or any immediate family member of, or person sharing the household with, any of these individuals or entities, had or will have a direct or indirect material interest.”

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Governance Agreement

“In March 2024, we entered into the Governance Agreement with Advance and Mr. Huffman. Pursuant to the terms of the Governance Agreement and our Certificate of Incorporation, Advance has the right to designate two directors for inclusion in the slate of nominees for election as directors at each applicable annual or special meeting of stockholders, to designate one nonvoting observer to the Board of Directors, and to have one of its designees sit on each committee of the Board of Directors (other than the Audit Committee), subject to certain limitations set forth in our Certificate of Incorporation. Additionally, the affirmative vote or written consent of Advance is required for us to take certain corporate actions including, among other things, to: establish any new class of securities or issue securities which, in the aggregate, represent more than 10% of the voting power of the securities beneficially owned by Advance and certain of its affiliates as of the closing of our initial public offering; amend our Certificate of Incorporation or Bylaws, if such amendment would adversely affect Advance’s rights thereunder; effect or consummate a change of control transaction or any other merger, consolidation, business combination, sale, or acquisition that changes the rights or preferences of our security holders; effect the liquidation, dissolution, or winding up of our business operations; terminate, reduce, or enlarge the responsibilities of, or elect, appoint, or remove, our Chief Executive Officer; or submit to our stockholders any proposal to effect the conversion of all then-outstanding shares of our Class C common stock into an equivalent number of fully paid and non-assessable shares of Class A common stock, as set forth in our Certificate of Incorporation or otherwise.”

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Governance Agreement

“These rights will continue until the first to occur of the following events: (i) a change of control of Advance or Reddit; (ii) Advance and its permitted transferees cease to, in the aggregate, beneficially own at least 5% of the aggregate of the then-outstanding shares of our Class A and Class B common stock; and (iii) (a) Advance and its permitted transferees cease to, in the aggregate, beneficially own at least 50% of the number of outstanding shares of our equity securities held by Advance as of the closing of our initial public offering, and (b) the then-outstanding shares of our Class B common stock, in the aggregate, represents less than 7.5% of the aggregate of the then-outstanding shares of our Class A and Class B common stock.”

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Governance Agreement

“Advance beneficially owns more than 5% of our outstanding capital stock. Steven Newhouse, a member of our Board of Directors, is co-president and a director of Advance Publications, Inc., the indirect parent company of Advance. Mr. Huffman is our Chief Executive Officer, President, and a member of our Board of Directors.”

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Advance Sublease Agreements

“On June 1, 2019, we entered into a sublease agreement with Advance, as amended on August 1, 2021, January 1, 2023, and January 1, 2025 to lease approximately 14,043 square feet of office space in Chicago, which agreement expires in 2027, subject to the terms thereof. During the year ended December 31, 2025 and for the three months ended March 31, 2026, we recognized rent expense pursuant to this sublease of $0.5 million and $0.1 million, respectively.”

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Advance Sublease Agreements

“On July 21, 2021, we entered into a sublease agreement with Advance to lease approximately 47,800 square feet of office space in New York City, which agreement expires in 2028, subject to the terms thereof. We will be subject to total non-cancellable minimum lease payments of approximately $17.2 million over the term of the sublease beginning in 2022, if certain contingencies are met. During the year ended December 31, 2025 and for the three months ended March 31, 2026, we recognized rent expense pursuant to this sublease of $3.1 million and $0.8 million, respectively.”

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Advance Sublease Agreements

“Our sublease agreements with Advance are negotiated in the ordinary course of business. Advance beneficially owns more than 5% of our outstanding capital stock. Steven Newhouse, a member of our Board of Directors, is co-president and a director of Advance Publications, Inc., the indirect parent company of Advance.”

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Other Transactions

“We have entered into indemnification agreements with each of our directors and executive officers. The indemnification agreements and our Bylaws require us to indemnify our directors to the fullest extent not prohibited by Delaware law. Subject to certain limitations, our Bylaws also require us to advance expenses incurred by our directors and officers.”

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Policies and Procedures for Related Party Transactions

“Our Audit Committee is responsible for reviewing and approving or disapproving all related party transactions. We have adopted a written related party transaction policy that applies to our executive officers, directors, director nominees, holders of more than 5% of any class of our voting securities and any member of the immediate family of, and any entity affiliated with, any of the foregoing persons. Such persons are not permitted to enter into a related party transaction with us without the prior consent of our Audit Committee, or other independent members of our Board of Directors in the event it is inappropriate for our Audit Committee to review such transaction due to a conflict of interest. Any request for us to enter into a related party transaction in which the amount involved exceeds $120,000 and any of our directors, nominees for director, executive officers, principal stockholders, or any immediate family members or affiliates, had or will have a direct or indirect material interest, must first be presented to our Audit Committee for review, consideration, and approval. In approving or rejecting any such proposal, our Audit Committee will consider the relevant facts and circumstances available and deemed relevant to our Audit Committee, including, but not limited to, the commercial reasonableness of the terms of the transaction and the materiality and character of the related person’s direct or indirect interest in the transaction.”

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