Life360 : Corporate Governance Statement

LIFE 360, INC.

ARBN 629 412 942

(the Company)

Corporate Governance Statement

This Corporate Governance Statement sets out the Company's current compliance with the fourth edition of the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations (Principles and Recommendations).

The Board of the Company currently has in place corporate governance policies and charters which have been posted in a dedicated corporate governance information section on the Company's website atinvestors.life360.com.

PRINCIPLES AND RECOMMENDATIONS	COMPLY (Yes/No)	EXPLANATION
1.	Lay solid foundations for management and oversight
1.1	A listed entity should have and disclose a board charter setting out: (a) the respective roles and responsibilities of its board and management; and (b) those matters expressly reserved to the board and those delegated to management.	Yes	The respective roles and responsibilities of the Board and management are defined under the Board Charter, a copy of which is available on the Company's website atinvestors.life360.com.There is a clear delineation between the Board's responsibility for the Company's strategy and activities, and the day-to-day management of operations conferred upon officers of the Company.
1.2	A listed entity should: (a) undertake appropriate checks before appointing a director or senior executive, or putting someone forward for election as a director; and	Yes	The process for selection, appointment, and re-appointment of directors is detailed in the Remuneration and Nomination Committee Charter, a copy of which is available on the Company's website atinvestors.life360.com.Under the

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(b) provide security holders with all material information in its possession relevant to a decision on whether or not to elect or re-elect a director.	Remuneration and Nomination Committee Charter, shareholders are required to be provided with all material information in the Committee's possession relevant to a decision on whether or not to elect or re-elect a director including, biographical details, qualifications, a statement as to whether the Board supports the nomination of the director and the degree of independence of the director and, details of any existing directorships held. These details are included in the Notice of Annual Meeting sent to shareholders in relation to the items of business for the election or re-election of directors. The Board is involved in the process for selection for senior executives at the Company.
1.3	A listed entity should have a written agreement with each director and senior executive setting out the terms of their appointment.	Yes	The Company has in place and requires each director and senior executive to execute a written agreement setting out the terms of their appointment.
1.4	The company secretary of a listed entity should be accountable directly to the board, through the chair, on all matters to do with the proper functioning of the board.	No	The Company does not currently have a company secretary. Under Delaware Corporation Law and applicable US law, the Company is not required to appoint a company secretary. The Company has engaged Company Matters Pty Ltd to act as its ASX Representative under Listing Rule 12.6. Graeme Blackett has been appointed as the Company's ASX Listing rule 12.6 Representative responsible for communication with the ASX in relation to listing rule matters.

1.5

A listed entity should: (a) have and disclose a diversity policy; (b) through its board or a committee of the board set measurable objectives for achieving gender diversity in the composition of its board, senior executives and workforce generally; and (c) disclose in relation to each reporting period: (1) the measurable objectives set for that period to achieve gender diversity; (2) the entity's progress towards achieving those objectives; and (3) either: (A) the respective proportions of men and women on the board, in senior executive positions and across the whole organisation (including how the entity has defined "senior executive" for these purposes); or (B) if the entity is a "relevant employer" under the Workplace Gender Equality Act, the entity's most recent "Gender Equality Indicators", as defined in and published under that Act.

1.5 (a) Yes 1.5 (b) No 1.5 (c) (1) & (2) No 1.5 (c) (3) Yes

The Company has adopted a Diversity Policy, a copy of which is available on the Company's website atwww.life360.com. The Diversity Policy requires the Board to establish measurable objectives to assist the Company to achieve gender diversity and to assess the Company's progress in achieving these objectives. The VP of People and Talent joined the Company in early 2021 and has driven measurable progress on diversity at Life360. This included running an engagement survey which included questions around diversity and belonging which will be used to plan to use that as a baseline for setting objectives, rolling out unconscious bias training, holding events to recognize Pride Month, added a female board member and senior executive (Chief Marketing Officer) to the Company and rolling out a new diversity statement as follows: We believe that different ideas, perspectives and backgrounds create a stronger and more creative work environment that delivers better results. Together, we continue to build an inclusive culture that encourages, supports, and celebrates the diverse voices of our employees. It fuels our innovation and connects us closer to our customers and the communities we serve. We strive to create a workplace that reflects the communities we serve and where everyone feels empowered to bring their authentic best selves to work. For 2021, the Company has not yet adopted measurable objectives but is in the process of finalizing the 2022 objectives now. The Remuneration and Nomination Committee will report to the Board on the Company's progress towards achieving its measurable objectives.

The respective proportion of men and women on the Board, in senior executive positions and across the whole organisation as at 31 December 2021, are as follows: Female Male BoardSenior Executive* All employees 25% 21% 32% 75% 79% 68% *Senior executives are the Officers and Vice Presidents of the Company The Company is not a "relevant employer" under the Workplace Gender Equality Act.
1.6	A listed entity should: (a) have and disclose a process for periodically evaluating the performance of the board, its committees and individual directors; and (b) disclose for each reporting period whether a performance evaluation was undertaken in accordance with that process during or in respect of that period.	Yes	Under the Board Charter, the Board will at least once per year, with the advice and assistance of the Remuneration and Nomination Committee, to review and evaluate the performance of the Board, its Committees and individual directors against the relevant charters, corporate governance policies, and agreed goals and objectives (as applicable). The Board conducts the review at the beginning of each calendar year for the previous 12 months. The Board conducted its annual review process for 2020 in Q1'2021 and is currently conducting its review process for 2021.

1.7	A listed entity should: (a) have and disclose a process for evaluating the performance of its senior executives at least once every reporting period; and (b) disclose for each reporting period, whether a performance evaluation was undertaken in the reporting period in accordance with that process or in respect of that period.	Yes	Under the Board Charter, the Board (with the advice and assistance of the Remuneration and Nomination Committee) is responsible for reviewing and approving the performance of the members of the executive leadership team. During the year ended December 31, 2021, performance reviews of the executive leadership team was undertaken biannually.
2.	Structure the board to add value
2.1	The board of a listed entity should: (a) have a nomination committee which: (1) has at least three members, a majority of whom are independent directors; and (2) is chaired by an independent director, and disclose: (3) the charter of the committee; (4) the members of the committee; and (5) as at the end of each reporting period, the number of times the committee met throughout the period and the individual attendances of the members at those meetings; or (b) if it does not have a nomination committee, disclose that fact and the processes it employs to address board succession	Yes	The Board has established a Remuneration and Nomination Committee to oversee the selection and appointment practices of the Company. The Remuneration and Nomination Committee is governed by a Remuneration and Nomination Committee Charter, which is available on the Company's website atinvestors.life360.com. The Remuneration and Nomination Committee consists of three members: Mark Goines, John Philip Coghlan and Brit Morin. All members of the Remuneration and Nomination Committee are independent non-executive directors. The Remuneration and Nomination Committee is chaired by Mark Goines, who is an independent director for ASX purposes. The Remuneration and Nomination Committee Charter prohibits a member of the Committee from being present for discussions at a Committee meeting on, or to vote on a matter