#1Q4 2021 Earnings Report © 2022 Pinterest. All rights reserved.#2Non-GAAP Financial Measures To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States ("GAAP"), we use the following non-GAAP financial measures: Adjusted EBITDA, Adjusted EBITDA margin, and non-GAAP costs and expenses (including non-GAAP cost of revenue, research and development, sales and marketing, and general and administrative). The presentation of these financial measures is not intended to be considered in isolation, or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In addition, these measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparative purposes. We compensate for these limitations by providing specific information regarding GAAP amounts excluded from these non-GAAP financial measures. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the Appendix. Limitation of Key Metrics and Other Data The numbers for our key metrics, which include our monthly active users (MAUs) and average revenue per user (ARPU), are calculated using internal company data based on the activity of user accounts. We define a monthly active user as an authenticated Pinterest user who visits our website, opens our mobile application or interacts with Pinterest through one of our browser or site extensions, such as the Save button, at least once during the 30-day period ending on the date of measurement. We measure monetization of our platform through our average revenue per user metric. We define ARPU as our total revenue in a given geography during a period divided by average MAUS in that geography during the period. We calculate average MAUs based on the average of the number of MAUs measured on the last day of the current period and the last day prior to the beginning of the current period. We calculate ARPU by geography based on our estimate of the geography in which revenue-generating activities occur. We use these metrics to assess the growth and health of the overall business and believe that MAUS and ARPU best reflect our ability to attract, retain, engage and monetize our users, and thereby drive revenue. While these numbers are based on what we believe to be reasonable estimates of our user base for the applicable period of measurement, there are inherent challenges in measuring usage of our products across large online and mobile populations around the world. In addition, we are continually seeking to improve our estimates of our user base, and such estimates may change due to improvements or changes in technology or our methodology. All information provided in this presentation is as of February 3, 2022. We undertake no duty to update this information unless required by law. All information provided in this presentation is unaudited. © 2022 Pinterest. All rights reserved. 2#376% $706 $123 $582 Q420 78% $485 $95 $390 Q121 International Revenue (in millions) 125% $613 $133 $480 Q221 US - 43% $633 $135 $498 Q321 Y/Y growth rate 20% $847 $199 $648 Q421 Note: Revenue is geographically apportioned based on our estimate of the geographic location of our users when they perform a revenue-generating activity. US and International may not sum to Global due to rounding; quarterly amounts may not sum to annual due to rounding. © 2022 Pinterest. All rights reserved. +20% Global Y/Y +61% International Y/Y +11% US Y/Y 3#437% 459 361 98 Q420 Monthly active users (in millions) 30% 478 380 98 Q121 International 9% 454 363 91 Q221 US - 1% 444 356 89 Q321 Y/Y growth rate -6% 431 346 86 Q421 Note: We define a monthly active user as an authenticated Pinterest user who visits our website, opens our mobile application or interacts with Pinterest through one of our browser or site extensions, such as the Save button, at least once during the 30-day period ending on the date of measurement. We present MAUS based on the number of MAUS measured on the last day of the current period. US and International may not sum to Global due to rounding. © 2022 Pinterest. All rights reserved. (6)% Global Y/Y (4)% International Y/Y (12)% US Y/Y 4#5Global US International $1.57 Q420 $5.94 Q420 $0.35 Q420 Average revenue per user $1.04 Q121 $3.99 Q121 $0.26 Q121 $1.32 Q221 $5.08 Q221 $0.36 Q221 $1.41 Q321 $5.55 Q321 $0.38 Q321 $1.93 Q421 $7.43 Q421 $0.57 Q421 Note: We measure monetization of our platform through our average revenue per user metric. We define ARPU as our total revenue in a given geography during a period divided by average MAUS in that geography during the period. We calculate average MAUs based on the average of the number of MAUS measured on the last day of the current period and the last day prior to the beginning of the current period. We calculate ARPU by geography based on our estimate of the geography in which revenue-generating activities occur. © 2022 Pinterest. All rights reserved. +23% Global Y/Y +25% US Y/Y +62% International Y/Y LO 5#6Cost of Revenue 18% 127 Q420 S&M 15% 109 Non-GAAP costs and expenses (in millions) Q420 27% 132 Q121 24% 118 Q121 20% 126 Q221 25% 150 Q221 % of revenue 20% 125 Q321 23% 143 16% % of revenue Q321 139 Q421 21% 177 Q421 R&D 14% 102 Q420 G&A 11% 76 Q420 24% 115 Q121 9% 42 Q121 18% 111 Q221 9% 55 Q221 — 19% 118 % of revenue Q321 8% 52 15% Q321 126 Q421 % of revenue 7% 61 Q421 Note: Costs and expenses are non-GAAP financial measures, which exclude share-based compensation (SBC), amortization of acquired intangible assets, and non-cash charitable contributions. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the tables included in the Appendix at the end of this release. 2022 Pinterest. All rights reserved. +9% COR Y/Y +24% R&D Y/Y +63% S&M Y/Y (21)% G&A Y/Y 6#742% $299 Q420 Adjusted EBITDA 17% $84 Q121 Adjusted EBITDA (in millions) 29% $178 Q221 - 32% $201 Q321 Adjusted EBITDA Margin % 41% $351 Q421 Note: Adjusted EBITDA is a non-GAAP financial measure. We define adjusted EBITDA as net income (loss) adjusted to exclude depreciation and amortization expense, share-based compensation expense, interest and other (income) expense, net and provision for income taxes. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the tables included in the Appendix at the end of this release. © 2022 Pinterest. All rights reserved. +17% Adj. EBITDA Y/Y 7#8Appendix Ⓒ2022 Pinterest. All rights reserved.#9GAAP to non-GAAP costs and expenses reconciliation (in millions) Cost of revenue Research and development Sales and marketing General and administrative Total costs and expenses Cost of revenue Research and development Sales and marketing General and administrative Total costs and expenses GAAP $141.2 240.9 190.5 94.6 $667.2 GAAP $126.8 185.9 156.1 65.7 $534.5 Quarter ended December 31, 2021 Share-based compensation $1.9 115.0 13.4 9.0 $139.4 Quarter ended September 30, 2021 Share-based compensation Amortization $0.3 0.0 0.0 0.2 $0.5 $2.0 67.5 13.4 13.4 $96.3 Amortization $0.1 0.0 0.0 0.2 $0.3 Note: Totals may not sum due to rounding. © 2022 Pinterest. All rights reserved. 1: Other expense is comprised of non-cash charitable contributions. Other expense $0.0 0.0 0.0 24.81 24.8 Other expense $0.0 0.0 0.0 0.0 0.0 Non-GAAP $139.0 125.8 177.1 60.6 $502.5 Non-GAAP $124.7 118.5 142.7 52.1 $437.9 9#10GAAP to non-GAAP costs and expenses reconciliation (in millions) Cost of revenue Research and development Sales and marketing General and administrative Total costs and expenses Cost of revenue Research and development Sales and marketing General and administrative Total costs and expenses GAAP $127.8 181.7 164.3 68.1 $542.0 GAAP $133.5 171.7 130.3 72.6 $508.1 Quarter ended June 30, 2021 Share-based compensation $2.2 70.7 14.0 13.4 $100.3 Quarter ended March 31, 2021 Share-based compensation Amortization $0.1 0.0 0.0 0.2 $0.3 $1.3 56.5 11.9 9.8 $79.5 Amortization $0.1 0.0 0.0 0.2 $0.3 Note: Totals may not sum due to rounding. © 2022 Pinterest. All rights reserved. 1: Other expense is comprised of non-cash charitable contributions. Other expense $0.0 0.0 0.0 0.0 0.0 Other expense $0.0 0.0 0.0 20.5¹ 20.5 Non-GAAP $125.5 111.0 150.3 54.6 $441.5 Non-GAAP $132.1 115.3 118.4 42.2 $407.9 10#11Cost of revenue GAAP to non-GAAP costs and expenses reconciliation (in millions) Research and development Sales and marketing General and administrative Total costs and expenses GAAP $129.0 163.7 120.8 87.0 $500.5 Quarter ended December 31, 2020 Share-based compensation $1.8 62.1 11.8 10.5 $86.2 Amortization $0.1 0.0 0.0 0.2 $0.3 Note: Totals may not sum due to rounding. Ⓒ2022 Pinterest. All rights reserved. Other expense $0.0 0.0 0.0 0.0 0.0 Non-GAAP $127.1 101.6 108.9 76.3 $414.0 11#12Net income (loss) Depreciation and amortization Adjusted EBITDA reconciliation Reconciliation of net income (loss) to adjusted EBITDA (in millions) Share-based compensation Interest income Interest and other expense (income), net Provision for (benefit from) income taxes Non-cash charitable contributions Adjusted EBITDA December 31, 2020 $207.8 7.8 86.2 (1.9) (1.5) 0.7 0.0 $299.2 Three months ended March 31, 2021 $(21.7) 6.8 79.5 (1.5) 1.6 (1.3) 20.5 $83.8 June 30, 2021 $69.4 6.8 100.3 (1.1) (0.3) 3.2 0.0 $178.2 September 30, 2021 $94.0 6.8 96.3 (0.8) 4.8 0.5 0.0 $201.5 Note: Adjusted EBITDA is a non-GAAP financial measure. We define adjusted EBITDA as net income (loss) adjusted to exclude depreciation and amortization expense, share-based compensation expense, interest and other (income) expense, net and provision for income taxes. Note: Totals may not sum due to rounding. © 2022 Pinterest. All rights reserved. December 31, 2021 $174.7 7.2 139.4 (0.8) 3.4 2.1 24.8 $350.9 12#13@ Ⓒ2022 Pinterest. All rights reserved.