#1Investor Presentation June 2021 Confidential information. Copyright © 2021-GoPro, Inc. All rights reserved GoPro#2SAFE HARBOR STATEMENT GoPro This presentation may contain projections or other forward-looking statements within the meaning Section 27A of the Private Securities Litigation Reform Act. Words such as "anticipate,” “believe,” “estimate," "expect," "intend," "should," "will" and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements in this presentation may include, but are not limited to, planned growth and expansion of our total addressable market through subscription services; increased profitability in 2021 and beyond; overall consumer demand, and the impact of the COVID-19 pandemic on our business. These statements involve risks and uncertainties, and actual events or results may differ materially. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are our ability to achieve revenue growth or profitability in the future, and if revenue growth or profitability is achieved, we may not be able to sustain it; our ability to effectively grow our direct-to-consumer and subscription business; the risk that our sales fall below our forecasts, especially during the holiday season; the risk we fail to manage our operating expenses effectively, and may result in our financial performance suffering the fact that our plan to profitability depends in part on further penetrating our total addressable market, and we may not be successful in doing so; the fact that sales of our cameras, mounts and accessories for substantially all of our revenue, and any decrease in the sales or change in sales mix of these products could harm our business; the risk that growing our direct-to-consumer and subscription business while reducing our reliance on our other sales channels could impact profitability; the impact of the COVID-19 pandemic and its effect on the United States and global economies and our business in particular; any inability to successfully manage product introductions, product transitions, product pricing and marketing; the fact that a small number of retailers and distributors account for a substantial portion of our revenue and our level of business with them could be significantly reduced; our transition away from some distributors and retailers; our reliance on third party suppliers, some of which are sole source suppliers, to provide components for our products which may be impacted due to supply shortages, long lead times for components, and supply changes, any of which could disrupt our supply chain and may increase our costs; the fact that an economic downturn or economic uncertainty in our key U.S. and international markets, as well as fluctuations in currency exchange rates, may adversely affect consumer discretionary spending; any changes to trade agreements, trade policies, tariffs, and import/export regulations; the effects of the highly competitive market in which we operate, including new market entrants; the fact that we may not be able to achieve revenue growth or profitability in the future; risks related to inventory, purchase commitments and long-lived assets; the importance of maintaining the value and reputation of our brand; the risk that the e-commerce technology systems that give consumers the ability to shop online do not function effectively; the risk that we will encounter problems with our distribution system; the threat of a security breach or other disruption including cyberattacks; the concern that our intellectual property and proprietary rights may not adequately protect our products and services; and other factors detailed in the Risk Factors section of our Annual Report on Form 10-K for the year ended December 31, 2020, and as updated in future filings with the Securities and Exchange Commission (SEC) including the Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, each of which is on file with the SEC. These forward-looking statements speak only as of the date hereof or as of the date otherwise stated herein. Forward-looking statements are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward- looking statements. GoPro disclaims any obligation to update these forward-looking statements. Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 2#3HIGHLIGHTS #1 HERO9 BLACK BEST-SELLING CAMERA IN THE U.S. CAMCORDER MARKET1 41M+ GOPRO CAMERAS SOLD² ~1.2M ACTIVE PAYING GOPRO SUBSCRIBERS3 GoPro 35% CONSUMER-DIRECT SALES AT GOPRO.COM4 3.4B+ GOPRO'S YOUTUBE CHANNEL LIFETIME VIEWS5 47M- SOCIAL FOLLOWERS ACROSS ALL PLATFORMS6 10M+ YOUTUBE SUBSCRIBERS6 10M+ FACEBOOK LIKES6 21M+ INSTAGRAM FOLLOWERS6 1 By unit volume, utilizing internal data compared to NPD 2 Cumulative HERO cameras sold since first HD HERO in 2009 through Q2 2021 3 As of June 2021 4 As of Q2 2021 5 On June 30, 2021 6 Social media numbers are as of Q2 2021 Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 3#4GoPro WE HELP THE WORLD CAPTURE AND SHARE ITSELF IN IMMERSIVE AND EXCITING WAYS Confidential information Copyright 2021. GoPr, Inc. rights reserved. GoPro#5ABOUT US WHAT WE MAKE Versatile Storytelling Solutions GoPro *** 9 BLACK MAX Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 2H:11 00:02 100% GoPro WHAT WE DO Enable Immersive Sharing#6GOPRO ECOSYSTEM CAPTURE GoPro GoPro ::: APP Quik Verizon 10:47 AM All Media Wed, Sep 23 Tue, Sep 22 Sun, Sep 20 CLOUD Subscribe to GoPro 11:31 5GE な GoPro 41M+ CAMERAS SOLD Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. SEAMLESS APP EXPERIENCE Epic videos. Automatically. Pull down to search for new footage GoPro Skiing in Aspen Sep 24, 2020 GoPro Abby's new skateboard Sep 24, 2020 GoPro ~1.2M PAYING SUBSCRIBERS 6#7BUSINESS TRANSITION OLD GOPRO MAX 9 2020 GOPRO Subscribe to GoPro ▬▬▬▬ Hardware Only Hardware & Subscription Retail 90%+ Retail 68% / DTC 32% Low 30's Gross Margin¹ 36% Gross Margin 1 As of 2017 and 2018 Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. GoPro NEW GOPRO IN 2021 AND BEYOND Subscribe to GoPro North Shore Hardware, Subscription, & App Monetization DTC > 40% and Growing as a Percentage of Mix 39% to 41% Gross Margin Target 7#8Confidentialing Our Products GoPro ORTO#9PRODUCT LINE-UP GoPro 4K 60W 00:08 100% HERO 9 BLACK HERO 8 BLACK MSRP: $399.99 Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. MSRP: $299.99 2H:11 00:02 100% MAX MSRP: $499.99 GoPro 9#10HERO9 BLACK DETAIL GoPro 599 900 HERO ថា៖ 9 BLACK 9 BLACK Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. GoPro ⚫ 23.6 MP Sensor - The groundbreaking HERO9 Black sports a beastly 23.6MP sensor for ridiculous 5K video and stunning 20MP photos. ⚫ Powerful Battery - 30% longer battery life is here thanks to a larger 1720mAh battery1. This lets you shoot more without having to swap out batteries and packs enough juice to power your camera through the cold. • Front Display + Rear Touch Screen - A new, larger rear touch screen with touch zoom on HERO9 Black should feel instantly familiar and a dazzling new front display makes for easy framing and intuitive camera control. HyperSmooth 3.0 - Experience ultimate smoothness with our most advanced video stabilization ever. HyperSmooth 3.0 enables in- camera horizon leveling and boost in all settings allowing for up to 45* tilt but keeping footage stable and straight. • Power Tools - HERO9 Black comes with Power Tools a full suite of smart capture settings that extend the capture options beyond simply pressing the shutter button. Power Tools include Hindsight, LiveBurst, Scheduled Capture and Duration Capture. TimeWarp 3.0 - Record mesmerizing time lapse scenes as you move on the road, on foot or anywhere else. TimeWarp 3.0 condenses time, capturing moments like nothing else. Speed Ramp is a new capability that lets you select Real Speed (now with audio) or Half Speed while recording. • Mods - With HERO9 Black mods² you've got options. Want a lens that gives you horizon locked footage and unbreakable stabilization? Get Max Lens Mod. Want to illuminate your subject? Light Mod is for you. Want mics and even more connectivity? Just add Media Mod and customize your rig. Live Streaming & Webcam Mode - Live stream in 1080p on social and get HyperSmooth stabilization as you broadcast via the GoPro app and save footage to your SD card to check out later. Connect HERO9 Black to your computer to broadcast in 1080p full HD. Use GoPro mounts to create your ideal webcam setup. Rugged & Waterproof - Shoot in the gnarliest conditions imaginable. HERO9 Black can take it. It's tough as nails, and waterproof down to 33ft right out of the box. • 8x Slo-Mo - Everything looks epic in slo-mo. Ultra high frame rate 1080p240 video with HyperSmooth 3.0 stabilization allows up to 8x slow motion for this ever-popular effect. RAW Photo - RAW mode delivers the most flexibility. Is available for time lapse and burst photos plus it works in single or multi-shot sequences. • Voice Control - Go hands-free with 14 voice commands like "GoPro, take a photo." Even if the camera is off, you can say, "GoPro, turn on." HERO9 Black understands English (US, UK, AU and India), Chinese (Mandarin), French, German, Italian, Japanese, Korean, Portuguese (BR), Russian, Spanish (EU and NA), and Swedish. • Presets + Custom Presets - HERO9 Black comes preloaded with recommended video presets for Standard, Activity, Cinematic and Slo-Mo shots. You can even create custom presets for quick access to your favorite settings. • Built-in Mounting - No more carrying a separate frame. Just flip out the folding fingers, attach your camera to any mount and go. ⚫ Portrait Orientation - Capture photos and videos in portrait orientation. Perfect for your Snapchat, Instagram Stories and TikToks. 1Compared to HERO8 Black. 2Sold separately. 10#11HERO8 BLACK DETAIL 4K 60W 00:08 1655 100% GoPro 333 300 HERO 00 8 BLACK 8 BLACK GoPro Streamlined Design - The reimagined shape is more pocketable, and folding fingers at the base let you swap mounts quickly. A new side door makes changing batteries even faster, and the lens is now 2x more impact resistant. Expandable Mods System - Vloggers, pro filmmakers and aspiring creators can do more than ever imagined with our HERO8 Black mods. 2 Media Mod gives you shotgun-mic performance and lets you attach Light Mod and Display Mod to up your capture game. HyperSmooth 2.0 - Smooth just got smoother. Now HERO8 Black has three levels of stabilization on, High and Boost so you can pick the best option for whatever you do. Get the widest views possible or boost it up to the smoothest video ever offered in a HERO camera. Plus, HyperSmooth works with all resolutions and frame rates, and features in-app horizon leveling. TimeWarp 2.0 - Capture super stabilized time lapse videos while you move through an activity. And now, TimeWarp automatically adjusts speed based on motion, scene detection and lighting. You can even slow down the effect to real time savoring interesting moments and then tap to speed it back up. ⚫ LiveBurst - Record the moments 1.5 seconds before and after your shot, so you can choose the best single frame for the perfect photo or an awesome shareable video. . SuperPhoto + HDR - Capture killer 12MP photos with improved HDR while in motion or stationary with reduced blur and serious detail even in low-light areas. Night Lapse Video - Shoot awesome time lapse videos at night in 4K, 2.7K 4:3, 1440p or 1080p, all processed in-camera. Digital Lenses - Framing your shot is as easy as tapping a new digital lens. Now you can toggle between Narrow, Linear, Wide and SuperView. • Live Streaming in 1080p - Share while you're there. Live stream in 1080p on social, get HyperSmooth stabilization as you broadcast via the GoPro app and save footage to your SD card to check out later. • Voice Control - Go hands-free with 14 voice commands. • Advanced Wind-Noise Reduction - Enjoy crisper, clearer audio quality with a new front mic location and improved algorithms that actively filter out wind noise. • RAW in All Photo Modes - RAW mode delivers the most flexibility and is now available for time lapse and burst photos. • Presets - HERO8 Black comes preloaded with recommended video presets for Standard, Activity, Cinematic and Slo-Mo shots. You can even create custom presets for quick access to your favorite settings. Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 11#12MAX DETAIL 2H:11 00:02 100% MAX Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. GoPro • Three Cameras in One - Maximize your creative freedom. With MAX you can shoot traditional HERO-style video and photos or capture immersive 360 footage. Vlog to the max with shotgun-mic performance and a front-facing screen. • Max HyperSmooth - MAX gives you unbreakable stabilization by using 180° capture as the ultimate buffer. ⚫ Horizon Leveling - In HERO mode, game-changing horizon leveling gives you that silky-smooth cinematic look whether you're getting sideways, flipping through the air or chasing your kids. • PowerPano - Pano without the pan. Take incredible 270° distortion-free panoramic photos without having to scan the horizon. Take PowerPano selfies, action shots and vertical pics all with a level horizon. • Premium 360 + Stereo Audio - Six mics capture true-to-life 360 audio and deliver the best stereo sound ever from a GoPro. Shotgun-Mic Performance - Directional audio in HERO mode lets you prioritize sound from either side of the camera, no matter which lens you're using. Perfect for vlogging. Digital Lenses - Choose from four digital lenses in HERO mode to get the shot. Capture video and photos in Narrow, Linear, Wide and Max SuperView our widest view yet. • Max TimeWarp - Capture super stabilized time lapse videos while you move through an activity. In HERO mode, TimeWarp automatically adjusts speed based on motion, scene detection and lighting. You can even slow down the effect to real time savoring interesting moments and then tap to speed it back up. • Intuitive Touch Screen - Be a smooth operator. With a touch screen, it's easy to control your camera, frame up your shot, play back footage and snap a selfie in HERO mode. Live Streaming in 1080p - Shoot in HERO mode and share while you're there. Live stream in 1080p on social, get Max HyperSmooth stabilization as you broadcast via the GoPro app and save footage to your SD card to check out later. • Voice Control - You call the shots. Easily control MAX with 12 voice commands. • In-Camera Stitching - With in-camera stitching, it's super easy to offload and edit your 360 footage in the GoPro app. • Reframe + the GoPro App - Use the app to easily reframe 360 footage into traditional videos and photos you can play back, edit or share. Compact Design - With a light compact design and folding fingers, you can go anywhere and capture everything. Rugged + Waterproof - It's a GoPro built tough. Snap on the included protective lenses and charge. And it's waterproof down to 16ft (5m). 12#13TECHNOLOGY INNOVATOR CAPTURE INNOVATION HYPERSMOOTH 3.0 GoPro ៣៖ BLACK MAX GOPRO APP Quik 24 11 00:02 100% Next Gen Capture Leads To Next Gen Sharing Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. GoPro North Shore October 8, 2020 GoPro AUTOMATED STORYTELLING JaLN'S Quik, Mobile & Cloud Storage Visual & Audio Syncing Capabilities 13#14GOPRO SUBSCRIPTION SERVICE $49.99/ Annual 1.2M Subscribers¹ Subscribe to GoPro Full Access to Quik App Features² Up to $100 Off Camera Purchase Damage Replacement* Auto Cloud Backup Share on the Go Save Unlimited Photos/Videos at Original Resolution to Cloud Up to 50% Off Accessories VIP Support as of June 2021 2Available in Q1 2021 3HERO9 and MAX 4Available Globally as of April 2019 5Does not support content captured with GoPro Fusion GoPro Pro#15• QUIK SUBSCRIPTION SERVICE $9.99/ Annual >100K Subscribers Get the most out of your photos and videos, no matter what phone or camera you're using. Rescue your best shots from the black hole of your phone's camera roll. 11 GoPro North Shore October 8, 2020 Featured 1:24 a GoPro Quik's "Mural" feature serves as a private feed for your favorite shots. Auto-generated videos + powerful editing tools empower casual users and pros. as of July 2021 Confidential information. Copyright 2021, GoPro, Inc. All rights reserved. 15#16Marketing & Distribution Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 太華勝景 GoPro#17MARKETING CONSUMER MULTI-CHANNEL STRATEGY LIFESTYLE SOCIAL ONLINE ADS GLOBAL RESORTS CHANNEL MARKETING GLOBAL TRADESHOWS VLOG Ժ v The sure shot. So. Many Pixels. 20 MIP PHOTO ALTERRA MOUNTAIN COMPANY VAILRESORTS MÉRIBEL cœur des 3 vallées CARDRONA ALPINE RESORT NEW ZEALAND Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. International CES Outdoor Retailer WINTER MARKET See for yourselfie. wwww Mirror, mirror. -9- の GoPro ATHLETES & SOCIAL INFLUENCERS TOP TIER EVENTS US UNION CYCLISTE UCI NATIONALE MÜNSTER. SUPERCROSS MXGP 1 17#18STRONG GLOBAL NETWORK GOPRO.COM: 35% OF Q2 2021 REVENUE GLOBAL FOOTPRINT >100 COUNTRIES¹ POINT OF PURCHASE DISPLAYS-22k¹ RETAIL: 65% OF Q2 2021 REVENUE GOPRO.COM OTHER ONLINE BIG BOX MID MARKET amazon 0 GoPro 京东 JD.COM 1 As of 6/30/2021 Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. GoPro DISTRIBUTOR BEST BUY O TARGET AAFES Army & Air Force Exchange Service B&H PHOTO-VIDEO-PRO AUDIO TM BAO ZUN CDB GROUP FTMALL.COM Walmart ARE KREI Q CEPHAS Response Nordic 18#19Financial Overview Confidential information. Copyright @2021. GoPro, Inc. All rights reserved. GoPro#20QUARTERLY TREND $600M QUARTERLY REVENUE & STREET ASP Street ASP ~13% CAGR $500M $400M $292 $300M $528 $200M $131 $134 $119 $100M $281 $358 $400 GoPro QUARTERLY NON-GAAP GROSS MARGIN¹ $350 39% 36% $300 34% 32% $250 23% $200 $250 $204 $150 $100 $50 38% 39% 40% 36% SOM $0 2Q19 3Q19 4Q19 1Q20 2Q20 Revenue ($MM) 3Q20 4Q20 1Q21 Street ASP (excluding Karma) 2Q21 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 1 See reconciliation in Appendix Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 20 20#21REVENUE & ADJUSTED EBITDA REVENUE $ in millions $ in millions Annual Quarterly $1,185 $1,180 $1,148 $1,195 $892 $250 $134 ($193) 2016 2017 2018 2019 2020 2Q20 2Q21 Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. ADJUSTED EBITDA ($31) GoPro Quarterly $72 $43 $22 $25 ($22) 2016 2017 2018 2019 2020 2Q20 2Q21 21#22TRAILING TWELVE MONTHS TREND $ in millions TTM REVENUE GoPro TTM NON-GAAP NET INCOME (LOSS) 1 $ in millions $1,198 $1,044 $1,195 $1,071 $913 $1,062 $892 $976 $1,092 $67 $54 $35 $30 ($4) ($25) ($38) $13 $117 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 1 See reconciliation in Appendix Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 22 22#23Paying Subscribers GOPRO SUBSCRIPTION QUARTERLY SUBSCRIBERS $ Subscription Revenue 1,200K 1,000K 800K 600K 400K $4.8M $4.7M $4.0M $4.5M $3.3M $3.1M $2.6M $3.1M 200K $2.2M OK 2Q18 3Q18 4Q18 Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 211% YoY Subscriber Growth 23% QoQ Subscriber Growth $5.8M $7.7M $10.7M GoPro $11.6M 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 23 23#24SELL-THROUGH UNITS PRICE BAND TREND > $300 MSRP < $300 MSRP 57% CAMERA UNITS SELL-THROUGH MIX 42% 58% 43% 2017 Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. Annual Quarterly GoPro 70% 74% 84% 84% 30% 26% 16% 16% 2018 2019 2020 2Q 2020 2Q 2021 24 24#25QUARTERLY NON-GAAP INCOME STATEMENT SUMMARY GoPro ($ in millions, except per share data) Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Revenue $ 249.6 $ 203.7 $ 357.8 $ 280.5 $ 134.2 $ 119.4 $ 528.3 Q3 2019 $ 131.2 Q2 2019 $ 292.4 Camera units shipped (in thousands) 724 556 1,108 923 448 341 1,857 479 1,082 Gross margin* 40.1% Operating expenses* $ 79.4 Operating income (loss)* $ 20.7 Net income (loss)* 19.9 Diluted net income (loss) per share* $ 0.12 $ Adjusted EBITDA* 25.1 Headcount 774 39.2% 38.3% 36.2% 31.6% 34.2% 38.6% 23.4% 35.8% EA $ 73.0 $ 73.0 SA $ 68.1 $ SA 69.0 $ 87.5 $ 99.1 $ 90.3 $ 97.3 SA $ 6.9 SA $ 64.2 $ 33.4 $ (26.7) $ SA (46.7) $ 105.0 $ (59.6) $ 7.5 SA $ 4.8 $ 61.1 31.0 $ (29.7) $ (49.6) $ 102.5 $ (61.3) $ 4.2 EA 0.03 $ 0.39 $ 0.20 $ (0.20) SA $ (0.34) 0.70 EA $ (0.42) SA $ 0.03 SA 10.7 $ 67.7 EA 765 758 39.2 740 $ (22.4) $ 741 EA (41.4) $ 112.1 (52.7) $ 13.6 923 926 912 900 * Non-GAAP metric. See reconciliations in Appendix. Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 25 25#26QUARTERLY REVENUE METRICS ($ in millions) Revenue by Channel: GoPro.com Retail Total Revenue GoPro Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 $ % of Rev % of Rev $ % of Rev $ % of Rev $ % of Rev $ EA 87.8 35.2% $ 82.1 40.3% $ 116.4 32.5% $ 81.3 29.0% $ 59.5 44.3% 161.8 64.8 121.6 59.7 241.4 67.5 199.2 71.0 74.7 55.7 $ 249.6 100.0% $ 203.7 100.0% $ 357.8 100.0% $ 280.5 100.0% $ SA 134.2 100.0% GoPro.com Revenue: % of Rev $ % of Rev $ % of Rev $ % of Rev Hardware $ 76.2 86.8% $ 71.4 87.0% $ SA 108.7 93.4% $ 75.5 92.9% $ EA Subscription 11.6 13.2 10.7 13.0 7.7 6.6 5.8 7.1 Total GoPro.com Revenue* $ 87.8 100.0% $ 82.1 100.0% $ 116.4 100.0% $ 81.3 100.0% $ SA Revenue by Geography: Americas $ EA Europe, Middle East and Africa Asia and Pacific Total Revenue $ % of Rev 54.8 92.1% 4.7 7.9 59.5 100.0% $ % of Rev $ % of Rev $ % of Rev $ % of Rev $ % of Rev 146.6 58.8% $ 106.7 52.3% $ 185.7 51.9% $ 157.7 56.2% $ 82.6 61.6% 61.2 24.5 49.8 24.5 89.5 25.0 64.6 23.0 34.9 26.0 41.8 16.7 47.2 23.2 82.6 23.1 58.2 20.8 16.7 12.4 $ 249.6 100.0% $ 203.7 100.0 % $ 357.8 100.0% $ 280.5 100.0% $ 134.2 100.0% Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 26#27SELECT BALANCE SHEET METRICS GoPro ($ in millions) Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Cash, cash equivalents, restricted cash and marketable securities $ 318.7 $ 296.8 $ 327.7 $ 146.9 $ 79.7 $ 124.9 $ 165.1 $ 79.0 $ 130.1 Days sales outstanding Inventory Annualized inventory turns Inventory days 35 30 27 34 46 38 34 49 45 $ 106.8 $ 111.8 $ 97.9 $ 132.8 $ 142.2 $ 172.0 $ 144.2 $ 250.0 $ 129.2 Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 5.5x 4.7x 7.6x 5.2x 2.3x 2.0x 6.6x 2.1x 6.0x 64 81 40 67 20 139 197 40 224 62 27 27#28ESTIMATED DILUTION FROM CONVERTIBLE NOTES Convertible dilution at various share prices STOCK PRICE $8.00 APR 2022 CONVERTIBLE NOV 2025 CAPPED CALL NOV 2025 CONVERTIBLE DILUTION (Α) DILUTION 0.0mm BENEFIT 0.0mm 0.0mm GoPro NOV 2025 NET DILUTION TOTAL CONVERTIBLE B DILUTION (A + B) C 0.0mm 0.0mm $9.00 0.0mm 0.0mm 0.0mm 0.0mm 0.0mm $10.00 0.0mm 1.0mm (1.0mm) 0.0mm 0.0mm $11.00 0.4mm 2.3mm (2.3mm) 0.0mm 0.4mm $12.00 1.3mm 3.4mm (3.4mm) 0.0mm 1.3mm $13.00 2.1mm 4.4mm (3.3mm) 1.1mm 3.2mm $14.00 2.8mm 5.1mm (3.0mm) 2.1mm 4.9mm $15.00 3.4mm Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 5.8mm (2.8mm) 3.0mm 6.4mm 28#29Appendix Confidential information. Copyright ©2021. GoPro, Inc. All rights reserved. GoPro#30APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS GoPro To supplement our unaudited selected financial data presented on a basis consistent with GAAP, we disclose certain non-GAAP financial measures, including non-GAAP gross margin, operating expenses, operating income (loss), net income (loss), diluted net income (loss) per share and adjusted EBITDA. We use non-GAAP financial measures to help us understand and evaluate our core operating performance and trends, to prepare and approve our annual budget, and to develop short-term and long-term operational plans. Our management uses, and believes that investors benefit from referring to these non-GAAP financial measures in assessing our operating results. These non-GAAP financial measures should not be considered in isolation from, or as an alternative to, the measures prepared in accordance with GAAP, and are not based on any comprehensive set of accounting rules or principles. We believe that these non-GAAP measures, when read in conjunction with our GAAP financials, provide useful information to investors by facilitating: • the comparability of our on-going operating results over the periods presented; • the ability to identify trends in our underlying business; and the comparison of our operating results against analyst financial models and operating results of other public companies that supplement their GAAP results with non-GAAP financial measures. These non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP. Some of these limitations are: • adjusted EBITDA does not reflect tax payments that reduce cash available to us; adjusted EBITDA excludes depreciation and amortization and, although these are non-cash charges, the property and equipment being depreciated and amortized often will have to be replaced in the future, and adjusted EBITDA does not reflect any cash capital expenditure requirements for such replacements; Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 30#31APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS GoPro adjusted EBITDA excludes the amortization of point of purchase (POP) display assets because it is a non-cash charge, and is treated similarly to depreciation of property and equipment and amortization of acquired intangible assets; adjusted EBITDA and non-GAAP net income (loss) exclude restructuring and other related costs which primarily include severance-related costs, stock-based compensation expenses and facilities consolidation charges recorded in connection with restructuring actions announced in the fourth quarter of 2016, first quarter of 2017, first quarter of 2018 and second quarter of 2020, including right-of-use asset impairment charges, and the related ongoing operating lease cost of those facilities recorded under Accounting Standards Codification 842, Leases. These expenses do not reflect expected future operating expenses and do not contribute to a meaningful evaluation of current operating performance or comparisons to the operating performance in other periods; adjusted EBITDA and non-GAAP net income (loss) exclude stock-based compensation expense related to equity awards granted primarily to our workforce. We exclude stock-based compensation expense because we believe that the non-GAAP financial measures excluding this item provide meaningful supplemental information regarding operational performance. In particular, we note that companies calculate stock-based compensation expense for the variety of award types that they employ using different valuation methodologies and subjective assumptions. These non-cash charges are not factored into our internal evaluation of net income (loss) as we believe their inclusion would hinder our ability to assess core operational performance; adjusted EBITDA and non-GAAP net income (loss) exclude the loss on extinguishment of debt because it is not reflective of ongoing operating results in the period, and such losses vary in the frequency and amount; Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 31#32APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS GoPro non-GAAP net income (loss) excludes acquisition-related costs including the amortization of acquired intangible assets (primarily consisting of acquired technology), the impairment of acquired intangible assets (if applicable), as well as third-party transaction costs incurred for legal and other professional services. These costs are not factored into our evaluation of potential acquisitions, or of our performance after completion of the acquisitions, because these costs are not related to our core operating performance or reflective of ongoing operating results in the period, and the frequency and amount of such costs vary significantly based on the timing and magnitude of our acquisition transactions and the maturities of the businesses being acquired. Although we exclude the amortization of acquired intangible assets from our non-GAAP net income (loss), management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation; non-GAAP net income (loss) excludes non-cash interest expense. In connection with the issuance of the Convertible Senior Notes in April 2017 and November 2020, we are required to recognize non-cash interest expense, such as the amortization of debt discounts, in accordance with the authoritative accounting guidance for convertible debt that may be settled in cash; non-GAAP net income (loss) includes income tax adjustments. We utilize a cash-based non-GAAP tax expense approach (based upon expected annual cash payments for income taxes) for evaluating operating performance as well as for planning and forecasting purposes. This non-GAAP tax approach eliminates the effects of period specific items, which can vary in size and frequency and does not necessarily reflect our long-term operations. Historically, we computed a non-GAAP tax rate based on non-GAAP pre-tax income on a quarterly basis, which considered the income tax effects of the adjustments above; and other companies may calculate these non-GAAP financial measures differently than we do, limiting their usefulness as comparative measures. Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 32 32#33APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS GoPro ($ in thousands, except per share data) Q2 2021 Q1 2021 Q4 2020 GAAP net income (loss) Stock-based compensation: Cost of revenue Operating expenses $ 16,952 $ (10,168) $ 44,413 $ Q3 2020 3,307 Q2 2020 $ (50,975) $ (63,528) $ Q1 2020 Q4 2019 Q3 2019 Q2 2019 95,820 $ (74,810) $ (11,287) 508 429 373 340 332 503 419 448 522 9,521 8,440 7,664 8,073 5,544 7,134 6,609 9,321 10,084 10,029 8,869 8,037 8,413 5,876 7,637 7,028 9,769 10,606 Total stock-based compensation Acquisition-related costs: Cost of revenue 288 723 723 964 1,024 1,887 1,864 1,863 2,009 Total acquisition-related costs 288 723 723 964 1,024 1,887 1,864 1,863 2,009 Restructuring and other costs: Cost of revenue 49 50 50 11 938 336 (4) 71 Operating expenses 856 783 58 14,277 11,015 (60) 29 1,793 Total restructuring and other costs 905 833 69 15,215 11,351 (64) 29 1,864 Non-cash interest expense 3,512 3,433 3,018 2,498 2,477 2,373 2,354 2,255 2,236 Loss on extinguishment of debt 5,389 Income tax adjustments (11,824) 1,145 Non-GAAP net income (loss) $ 19,862 $ (585) 4,835 $ 61,064 $ 652 31,049 526 2,082 (4,597) (342) (1,235) $ (29,721) $ (49,613) $ 102,498 $ (61,265) $ 4,193 GAAP shares for diluted net income (loss) per share 164,857 Add: dilutive shares 152,181 7,671 156,464 151,849 148,497 147,560 147,052 145,617 144,668 1,622 Non-GAAP shares for diluted net income (loss) per share 164,857 159,852 156,464 151,849 148,497 147,560 147,052 145,617 146,290 GAAP diluted net income (loss) per share $ 0.10 $ (0.07) $ 0.28 $ 0.02 $ Non-GAAP diluted net income (loss) per share $ 0.12 $ 0.03 $ 0.39 $ 0.20 $ (0.34) $ (0.20) $ (0.43) $ (0.34) $ 0.70 $ 0.65 $ (0.51) $ (0.08) (0.42) $ 0.03 Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 33#34APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS GoPro ($ in thousands) GAAP gross margin Stock-based compensation Acquisition-related costs Restructuring and other costs Non-GAAP gross margin GAAP operating expenses Stock-based compensation Restructuring and other costs Non-GAAP operating expenses Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 39.8% 38.6% 38.0% 35.4% 30.3% 32.2% 38.2% 21.7% Q2 2019 34.9% 0.2 0.2 0.1 0.2 0.2 0.4 0.1 0.3 0.2 0.1 0.4 0.2 0.3 0.8 1.6 0.3 1.4 0.7 0.3 0.3 40.1% 39.2% 38.3% 36.2% 31.6% 34.2% 38.6% 23.4% 35.8% $ 89,780 (9,521) (856) $ 82,208 (8,440) (783) $ 80,728 $ 90,458 $ 85,606 (7,664) (58) $ 79,403 $ 72,985 $ 73,006 (8,073) (14,277) $ 68,108 (5,544) (11,015) $ 94,541 (7,134) 60 $ 105,725 (6,609) (29) $ 99,630 (9,321) $ 69,047 $ 87,467 $ 99,087 $ 90,309 $ 109,132 (10,084) (1,793) $ 97,255 GAAP operating income (loss) $ 9,502 $ (3,512) Stock-based compensation 10,029 8,869 Acquisition-related costs 288 723 $ 55,355 8,037 723 $ 8,854 8,413 $ (44,914) 5,876 Restructuring and other costs 905 833 69 964 15,215 1,024 $ (56,114) 7,637 1,887 $ 96,100 7,028 1,864 $ (71,198) $ (6,947) 9,769 1,863 10,606 2,009 11,351 (64) 29 1,864 Non-GAAP operating income (loss) $ 20,724 $ 6,913 $ 64,184 $ 33,446 $ (26,663) $ (46,654) $ 105,021 $ (59,566) $ 7,532 Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 34#35APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands) GAAP net income (loss) Income tax expense (benefit) Interest expense, net Depreciation and amortization POP display amortization Stock-based compensation Loss on extinguishment of debt Restructuring and other costs Adjusted EBITDA GoPro Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 16,952 $ (10,168) $ 44,413 $ 3,307 $ (50,975) $ (63,528) $ 95,820 $ (74,810) $ (11,287) (11,670) 1,219 116 1,242 1,069 2,399 (3,928) (273) (605) 5,484 5,796 5,442 5,241 4,629 4,681 5,032 4,278 4,479 2,694 3,534 3,570 4,802 4,711 5,982 6,445 6,421 6,552 671 637 708 959 972 1,537 1,666 1,900 2,007 10,029 8,869 8,037 8,413 5,876 7,637 7,028 9,769 10,606 5,389 905 833 69 15,215 11,351 (64) $ 25,065 $ 10,720 $ 67,744 $ 39,179 $ (22,367) $ (41,356) $ 112,092 29 1,864 $ (52,715) $ 13,616 Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 35#36Confidential information. Copyright GoPre the All rights reserved. Thank you. Pro GoPro