#1amazon Q4 2021 Financial Results Conference Call Slides#2outcomes This presentation may contain forward-looking statements which are inherently difficult to predict. Actual results and outcomes could differ materially for a variety of reasons, including, among others, fluctuations in foreign exchange rates, changes in global economic conditions and customer spending, inflation, labor market and global supply chain constraints, world events, the rate of growth of the Internet, online commerce, and cloud services, the amount that Amazon.com invests in new business opportunities and the timing of those investments, the mix of products and services sold to customers, the mix of net sales derived from products as compared with services, the extent to which we owe income or other taxes, competition, management of growth, potential fluctuations in operating results, international growth and expansion, the of claims, litigation, government investigations, and other proceedings, fulfillment, sortation, delivery, and data center optimization, risks of Inventory management, variability in demand, the degree to which the Company enters into, maintains, and develops commercial agreements, proposed and completed acquisitions and strategic transactions, payments risks, and risks of fulfillment throughput and productivity. Other risks and uncertainties include, among others, risks related to new products, services, and technologies, system interruptions, government regulation and taxation, and fraud. In addition, the global economic climate and additional or unforeseen effects from the ČOVID-19 pandemic amplify many of these risks. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings. Additional information relating to certain of our financial measures contained herein, including non-GAAP financial measures, is available in the appendix to our presentation, our most recent earnings release and at our website at www.amazon.com/ir. 2#3MM $60,000 $30,000 $0 $-30,000 N $31,020 Free Cash Flow -- TTM Down 129% Y/Y (3) (1) (2) Q4 2020 Q1 2021 Q2 2021 Q3 2021 Long-Term Goal - Optimize Free Cash Flows $(9,069) Q4 2021 (1) Free cash flow is cash flow from operations reduced by "Purchases of property and equipment, net of proceeds from sales and incentives." See Appendix for a reconciliation of operating cash flow to free cash flow. Trailing twelve-month period. Operating cash flow decreased 30% Y/Y. 3#4Free Cash Flow Less Principal Repayments of Finance Leases and Financing Obligations -- TTM (1) MM $60,000 $30,000 $0 $-30,000 (1) (2) $20,325 Q4 2020 Down 200% Y/Y (2) Q1 2021 Q2 2021 Q3 2021 $(20,394) Q4 2021 Long-Term Goal - Optimize Free Cash Flows Free cash flow less principal repayments of finance leases and financing obligations is free cash flow reduced by "Principal repayments of finance leases" and "Principal repayments of financing obligations." See Appendix for a reconciliation of non-GAAP measures. Operating cash flow decreased 30% Y/Y. 4#5Free Cash Flow Less Equipment Finance Leases and Principal Repayments of All Other Finance Leases and Financing Obligations -- TTM (1) MM $60,000 $30,000 $-30,000 (1) $0 (2) $21,436 Down 167% Y/Y (2) Q2 2021 $(14,340) Q4 2020 Q1 2021 Q3 2021 Long-Term Goal - Optimize Free Cash Flows Q4 2021 Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations is free cash flow reduced by equipment acquired under finance leases, which is included in "Property and equipment acquired under finance leases," principal repayments of all other finance lease liabilities, which is included in "Principal repayments of finance leases," and "Principal repayments of financing obligations." See Appendix for a reconciliation of non-GAAP measures. Operating cash flow decreased 30% Y/Y. 5#6MM 700 350 0 518 15 503 Q4 2020 Shares ‒‒‒ Q2 2021 Q1 2021 Common Shares Outstanding Q3 2021 Stock-Based Awards Outstanding Efficiently Managing Dilution 523 14 509 Q4 2021 6#7MM $250,000 $125,000 (1) $0 $125,555 Q4 2020 Net Sales Up 9% Y/Y; Up 10% F/X Adjusted (1) Q1 2021 |||||| Q2 2021 Q3 2021 $137,412 Q4 2021 Information regarding the effect of foreign exchange rates, versus the U.S. Dollar, on our net sales and operating income is provided to show reported period operating results had the foreign exchange rates remained the same as those in effect in the comparable prior year periods. 7#8MM $800,000 $400,000 $386,064 $0 Net Sales - TTM Up 22% Y/Y; Up 21% F/X Adjusted $469,822 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Net Sales - TTM (MM) $62,202 13% $127,787 27% North America International AWS $279,833 60% 8#9MM $14,000 $7,000 $0 $6,873 Q4 2020 Operating Income Q1 2021 Down 50% Y/Y Q2 2021 Q3 2021 $3,460 Q4 2021 9#10MM $50,000 $25,000 $0 $22,899 Q4 2020 Operating Income - TTM Q1 2021 Up 9% Y/Y; Up 8% F/X Adjusted Q2 2021 Q3 2021 $24,879 Q4 2021 10#11MM $25,000 $12,500 (1) $0 $7,222 Net Income (₁) Up 98% Y/Y $14,323 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q4 2021 net income includes a pre-tax valuation gain of $11.8 billion included in non-operating income from our common stock investment in Rivian Automotive, Inc., which completed an initial public offering in November. 11#12MM $60,000 $30,000 $0 $21,331 Q4 2020 Net Income - TTM Q1 2021 Up 56% Y/Y Q2 2021 Q3 2021 $33,364 Q4 2021 12#13MM $130,000 $65,000 $0 Segment Results - North America MM $6,000 $75,346 Net Sales Up 9% Y/Y $82,360 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 $3,000 $0 Operating Income (Loss) Down 107% Y/Y; Down 108% F/X Adjusted $2,946 III. $(206) Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 TTM Net Sales $279.8B 13#14MM $70,000 $35,000 $0 $37,467 Segment Results - International MM $6,000 Net Sales Down 1% Y/Y; Up 3% F/X Adjusted $37,272 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 $3,000 $0 $-3,000 Operating Income (Loss) Down 549% Y/Y; Down 533% F/X Adjusted $363 $(1,627) Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 TTM Net Sales $127.8B 14#15MM $30,000 $15,000 $0 $12,742 Segment Results - AWS MM $10,000 Net Sales Up 40% Y/Y ||||| Q4 2020 Q1 2021 Q2 2021 $17,780 Q3 2021 Q4 2021 $5,000 $0 $3,564 Operating Income Up 48% Y/Y; Up 46% F/X Adjusted TTM Net Sales $62.2B $5,293 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 15#16amazon Appendix 16#17MM Free Cash Flow Reconciliation - TTM Operating Cash Flow Purchases of property and equipment, net of proceeds from sales and incentives Free Cash Flow Q4 2020 (35,044) Q1 2021 Q2 2021 $66,064 $67,213 $59,322 $54,671 $31,020 Q3 2021 Q4 2021 $46,327 (40,803) (47,176) (52,119) (55,396) $26,410 $12,146 $2,552 ($9,069) 17#18Free Cash Flow Less Principal Repayments of Finance Leases and Financing Obligations Reconciliation - TTM MM Operating Cash Flow Purchases of property and equipment, net of proceeds from sales and incentives Principal repayments of finance leases Principal repayments of financing obligations Free Cash Flow Less Principal Repayments of Finance Leases and Financing Obligations Q4 2020 Q1 2021 $66,064 $67,213 Q2 2021 Q3 2021 (53) (103) $59,322 $54,671 (35,044) (40,803) (47,176) $20,325 $14,859 (10,642) (11,448) (11,435) (11,271) (47,176) (52,119) (55,396) Q4 2021 (116) (124) $46,327 (11,163) (162) $595 $(8,843) ($20,394) 18#19Free Cash Flow Less Equipment Finance Leases and Principal Repayments of All Other Finance Leases and Financing Obligations Reconciliation - TTM Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 MM Operating Cash Flow Purchases of property and equipment, net of proceeds from sales and incentives Equipment acquired under finance leases (1) Principal repayments of all other finance leases (2) Principal repayments of financing obligations Free Cash Flow Less Equipment Finance Leases and Principal Repayments of all other Finance Leases and Financing Obligations $66,064 (35,044) (9,104) (53) $67,213 $59,322 $54,671 (8,936) (427) (525) $21,436 (40,803) (47,176) (52,119) (103) (7,295) (5,738) (550) (582) (116) (124) $46,327 (55,396) (4,422) (687) (162) $16,846 $4,185 $(3,892) ($14,340) (1) For the twelve months ended December 31, 2021, this amount relates to equipment included in "Property and equipment acquired under finance leases" of $7,061 million. (2) For the twelve months ended December 31, 2021, this amount relates to property included in "Principal repayments of finance leases" of $11,163 million. 19