#1S shopify Leading the future of commerce May 4, 2023#2Safe harbor This presentation contains forward-looking statements that are based on our management's current estimates, beliefs and assumptions, which are based on management's perception of historic trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. Although we believe that the plans, intentions, expectations, assumptions and strategies reflected in these forward-looking statements are reasonable, these statements relate to future events or our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results expressed or implied by these forward-looking statements. Although the forward-looking statements contained in this presentation are based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on these statements since actual results may vary from the forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond our control and which could materially affect our results. These risks are described in further detail in our Q1 2023 earnings release, and in our Management's Discussion and Analysis and in the section entitled "Risk Factors" in our Annual Information Form disclosed previously and from time to time in Shopify's filings with the U.S. Securities and Exchange Commission and the securities commissions or similar securities regulatory authorities in each of the provinces or territories of Canada available on www.sec.gov and on www.sedar.com. If one or more of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual results may vary significantly from those expressed, implied or projected by the forward-looking statements. References to long-term trends in our model are forward-looking and made as of the current date. Nothing in this presentation should be regarded as a representation by any person that these long-term trends will be achieved and we undertake no duty to update these long-term trends or any other forward-looking statements contained in this presentation, except as required by law. We believe that the case studies presented in this presentation provide a representative sample of how our merchants have been able to use various features of our platform to grow their respective businesses. References in this presentation to growth and sales following implementation of our platform do not necessarily mean that our platform was the only factor contributing to such increases. To supplement the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use non-GAAP financial measures that exclude certain items. Non-GAAP financial measures are not prepared in accordance with GAAP; therefore, the information is not necessarily comparable to other companies and should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. Please refer to the slides titled "Non-GAAP Financial Measures" and "Reconciliation of GAAP to Non-GAAP Figures" for further information. This presentation contains information concerning our industry, including information relating to the size of the markets in which we participate, that are based on industry surveys and publications or other publicly available information, other third-party survey data and research reports. This information involves many assumptions and limitations, there can be no guarantee as to the accuracy or reliability of such assumptions and you are cautioned not to give undue weight to this information. While we believe this information to be reliable, it has not been independently verified. This presentation contains trademarks, service marks, trade names and copyrights of Shopify and other companies, which are the property of their respective owners. May 2023 2#3SHOPIFY IN 2023 $1.5B Revenue in Q1 (up 25% YoY) ~561 M Unique online shoppers purchasing from Shopify merchants in 2022 $700B Global commerce since Shopify's inception Millions of merchants in +175 Countries *Source: US Census Bureau Shopify market share based on Shopify's 2022 US GMV (excluding merchant sales made through POS) 10% US ecommerce market share* and expect further penetration MARANTA PLANT SHOP 3#4We've been focused on becoming the commerce operating system for our merchants since 2006#5We started online and built a commerce platform that helps merchants sell everywhere their customers are Over 80% of our merchants have installed two or more channels 2006 000 Online B2B S Brick & Mortar Today Marketplaces (5) f Social Pop-ups 5#6We continue to expand Shopify's breadth to make it even easier for merchants to start and scale their business Apps Order Management Marketing & Analytics хо 4 Shipping Cross-Border O Inventory & Fulfillment S 6#7Merchant-first focus through product innovation Lowering barriers, simplifying operations, catalyzing merchant sales Retail shopify POS shopify POS PRO POS Go Locations Money shopify payments Sshopify capital shopify balance Shipping shopify shipping International S shopify markets Sshopify markets PRO Languages FX & VAT Marketing shopifyaudiences shopify collabs linkpop by shopify Shopify Email $ Shopify Inbox Back office Shopify Tax Shopify Protect Shopify Flow Shopify Functions Shopify Bill Pay Multi-channel f O Business-to- business B2B on Shopify ebay Walmart amazon P Platform Consumer- facing shop shopifyplus Scommerce components shop Pay shop Pay installments in partnership with affirm shop Promise Hydrogen Oxygen System integrators accenture Deloitte. KPMG IBM EY cognizant Ecosystem shopify app store shopify themes shopify partners S shopify experts 7#8We solve the biggest challenges in commerce We arm merchants with business critical tools to navigate a rapidly evolving landscape Access to funding Shopify Capital Started H1 2016 Omni-channel capabilities Shopify POS Pro Started H2 2020 Customer acquisition Shopify Audiences Launched H1 2022 Headphones $125.00 ヘッドフォン ¥17,400 Auriculares 124.00 € Go Global Shopify Markets Pro Launched H2 2022 ||||} + 8#9Shopify flywheel propels our success and business model into the future More merchants More GMV S More economies of scale More products + solutions 9#10Shopify is built to support merchants at each stage of growth#11No need for merchants to ever leave the Shopify platform Offer solutions for every level of complexity and stage of growth Starter $5 per month Basic $39 per month* Shopify $105 per month* Advanced $399 per month* Shopify Plus $2,000+ per month + variable platform fee Homegrown / upgraded merchant *Pricing change effective for new merchants January 2023 and for existing merchants April 2023 Entrepreneurs SMBs Larger Brands elph LUKE'S: CERAMICS Selected Brands CHANDLER HONEY (R) ROYALTY SOAPS tokyobike allbirds GYMSHARK Nestle PAPALLAMA menin maid TRADE MARK Heineken 11#12Commerce Components by Shopify A modern composable stack that lets brands choose the modular components they want and integrate them with their existing systems and services System integrator partners accenture EY Deloitte. KPMG cognizant IBM S 12