#1Investor Presentation April 2021 Snap Inc.#2Snap Inc. Disclaimers Note Regarding User Metrics and Other Data We define a Daily Active User, or DAU, as a registered Snapchat user who opens the Snapchat application at least once during a defined 24-hour period. We calculate average DAUS for a particular quarter by adding the number of DAUS on each day of that quarter and dividing that sum by the number of days in that quarter. DAUS are broken out by geography because markets have different characteristics. We define average revenue per user, or ARPU, as quarterly revenue divided by the average DAUS. For purposes of calculating ARPU, revenue by user geography is apportioned to each region based on our determination of the geographic location in which advertising impressions are delivered, as this approximates revenue based on user activity. This allocation differs from our components of revenue disclosure in the notes to our consolidated financial statements, where revenue is based on the billing address of the advertising customer. For information concerning these metrics as measured by us, see "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the U.S. Securities and Exchange Commission, or the SEC, which is available on the SEC's website at www.sec.gov. Unless otherwise stated, statistical information regarding our users and their activities is determined by calculating the daily average of the selected activity for the most recently completed quarter included in this presentation. While these metrics are determined 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 how our products are used across large populations globally. For example, there may be individuals who have unauthorized or multiple Snapchat accounts, even though we forbid that in our Terms of Service and implement measures to detect and suppress that behavior. We have not determined the number of such multiple accounts. Changes in our products, infrastructure, mobile operating systems, or metric tracking system, or the introduction of new products, may impact our ability to accurately determine active users or other metrics and we may not determine such inaccuracies promptly. We also believe that we don't capture all data regarding each of our active users. Technical issues may result in data not being recorded from every user's application. For example, because some Snapchat features can be used without internet connectivity, we may not count a DAU because we don't receive timely notice that a user has opened the Snapchat application. This undercounting may grow as we grow in Rest of World markets where users may have poor connectivity. We do not adjust our reported metrics to reflect this underreporting. We believe that we have adequate controls to collect user metrics, however, there is no uniform industry standard. We continually seek to identify these technical issues and improve both our accuracy and precision, including ensuring that our investors and others can understand the factors impacting our business, but these and new issues may continue in the future, including f there continues to be no uniform industry standard. Some of our demographic data may be incomplete or inaccurate. For example, because users self-report their dates of birth, our age-demographic data may differ from our users' actual ages. And because users who signed up for Snapchat before June 2013 were not asked to supply their date of birth, we exclude those users and estimate their ages based on a sample of the self-reported ages we do have. If our active users provide us with incorrect or incomplete information regarding their age or other attributes, then our estimates may prove inaccurate and fail meet investor expectations. See https://busi help.s pchat.com/ for details. we have relied third-party analytic ovide calculate netrics, but we rely primarily on our analytics platform that we develope and operate. We ount DAU when r opens the application and only once per user per day. We believe this methodology more accurately measures our user engagement. We have multiple pipelines of user data that we use to determine whether a user has opened the application during a particular day, and thus is a DAU. This provides redundancy in the event one pipeline of data were to become unavailable for technical reasons, and also gives us redundant data to help measure how users interact with our application. If we fail to maintain an effective analytics platform, our metrics calculations may be inaccurate. We regularly review, have adjusted in the past, and are likely in the future to adjust our processes for calculating our internal metrics to improve their accuracy. As a result of such adjustments, our DAUS or other metrics may not be comparable to those in prior periods. Our measures of DAUS may differ from estimates published by third parties or from similarly titled metrics of our competitors due to differences in methodology or data used. Note Regarding Forward Looking Statements and use of Non-GAAP financials This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including statements regarding guidance, our future results of operations or financial condition, business strategy and plans, user growth and engagement, product initiatives, and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "going to," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," or "would" or the negative of these words or other similar terms or expressions. We caution you that the foregoing may not include all of the forward-looking statements made in this presentation. You should not rely on forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this presentation primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations, and prospects. These forward-looking statements are subject to risks, uncertainties, and other factors described in "Risk Factors" and elsewhere in our Annual Report on Form 10-K, for the year ended December 31, 2020 filed with the SEC, which is available on the SEC's website at www.sec.gov., including among other things: our financial performance, including our revenues, cost of revenues, operating expenses, and our ability to attain and sustain profitability; our ability to generate and sustain positive cash flow; our ability to attract and retain users and publishers; our ability to attract and retain advertisers; our ability to compete effectively with existing competitors and new market entrants; our ability to effectively manage our growth and future expenses; our ability to comply with modified or new laws and regulations applying to our business; our ability to maintain, protect, and enhance our intellectual property; our ability to successfully expand in our existing market segments and penetrate new market segments; our ability to attract and retain qualified employees and key personnel; our ability to repay outstanding debt; future acquisitions of or investments in complementary companies, products, services, or technologies; and the potential adverse impact of the COVID-19 pandemic on our business, operations, and the markets and communities in which we and our partners, advertisers, and users operate. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this presentation or in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC, which is available on the SEC's website at www.sec.gov. The results, events, and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements. In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of our most recent Quarterly Report on Form 10-Q. And while we believe that information provides a reasonable basis for these statements, that information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements. The forward-looking statements made in this presentation or in our most recent Quarterly Report on Form 10-Q relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this presentation to reflect events or circumstances after the date of this presentation or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, dispositions, joint ventures, restructurings, legal settlements, or investments. Investors and others should note that we may announce material business and financial information to our investors using our investor relations website (investor.snap.com), filings with the SEC, webcasts, press releases, and conference calls. We use these mediums, including Snapchat and our website, to communicate with our members and the public about our company, our products, and other issues. It is possible that the information that we make available may be deemed to be material information. We therefore encourage investors and others interested in our company to review the information that we make available on our website. This presentation includes certain non-GAAP financial measures. These non-GAAP financial measures, which may be different than similarly titled measures used by other companies, are presented to enhance investors' overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. A reconciliation of GAAP to non-GAAP measures is provided in the appendix of this presentation. 2#3Snap Inc. Snap Inc. Is a Camera Company We believe that reinventing the camera represents our greatest opportunity to improve the way people live and communicate. We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together.#4Snap Inc. Our Community#5Snap Inc. 42 57 75 Q2 17 44 57 77 Q3 17 Strong Growth in our Community 47 60 80 Q4 17 Snap Inc. internal data Q2 2017 - Q1 2021. See Snap Inc. public filings with the SEC. On average 280M Daily Active Users 48 62 81 Q1 18 47 61 80 Q2 18 47 59 79 Q3 18 47 60 79 Q4 18 North America 49 61 80 Q1 19 56 64 83 Q2 19 Europe 61 65 84 Q3 19 64 67 86 Q4 19 Rest of World 71 70 88 Q1 20 77 71 90 Q2 20 87 72 90 Q3 20 99 74 92 Q4 20 111 77 93 Q1 21 5#6Snap Inc. The Snapchat Generation Unduplicated reach among Millennials and Gen Z. Millennials Largest Generation in US History¹ They're expected to drive over half of the increase in expenditure growth over the next decade.² 1. Census Bureau. 2. Fundstrat, commissioned by Snap Inc. 2019. 3. Cassandra an Engine Company. Generational Spend Research Q1'19. Gen Z $1.2 Trillion in Indirect Purchasing Power³ Still developing brand loyalty, which is attractive for advertisers who focus on lifetime value. Together, these generations have over $1 Trillion in direct spending power.³ 100 6#7Snap Inc. High Penetration in Most Established Markets 4+000 米 Australia U.S. U.K. 90% of 13 to 24-Year-Old Population Snap Inc. internal data Q4 2020. Penetration calculated as MAU divided by 2020 population estimates, per United Nations World Population Prospects, 2019. France Netherlands 75% of 13 to 34-Year-Old Population 7#8Snap Inc. Significant Opportunity To Expand Our Community Globally - North America 23% Penetration³ 93M DAU¹ ļ ~400M Smartphones² 1. Snap Inc. internal data Q1 2021. See Snap Inc. public filings with the SEC. 2. eMarketer & Newzoo 2020 smartphone estimates. 3. Percentage calculated by dividing Snap Inc. DAU by total smartphone estimate. Europe 14% Penetration³ 77M DAU¹ ~560M Smartphones² Rest of the World 5% Penetration³ 111M DAU¹ ~2.4B Smartphones² 8#9Snap Inc. 1. 2. 3. 4. LOCAL LANGUAGE 35 languages currently supported¹ Snap Inc. internal data as of January 2021 Snap Inc. internal data as of September 30, 2021. Snap Inc. internal data 2020. Snap Inc. internal data January 2015 March 2021. International Growth Playbook LOCAL LENSES 1.5M+ lenses launched² 150K+ active lens creators globally³ LOCAL CONTENT Over 500 content partners in 17 countries around the World4 LOCAL MARKETING Generate awareness through local marketing initiatives LOCAL PARTNERSHIPS Preload partnerships with major handset OEM's provide placement & promotion: SAMSUNG Vivo Partnerships with local telcos ensure attractive data rating and promotion: ooredoo telcel 9#10Snap Inc. Snapchat#11Snap Inc. Daily Active Users 280M Snapchat Launch Android Video Smart Filters Stories 2011 2012 Snap Inc. internal data Q1 2021. See Snap Inc. public filings with the SEC. 2013 Live Stories Snap Ads Chat Geofilters 2014 9 Years of Innovation Snapcodes Sponsored Geofilters Best Friend Emojis Publisher Stories Lenses Story Explorer 2015 Music Recognition Memories Bitmoji Geostickers and 3D Stickers Spectacles Shows Group Chat Face Swap Voice and Video Calling On-Demand Geofilters 2016 Dancing Hotdog Snap Pixel Snap Publisher Ads Manager Custom Stories Context Cards Voice Filters Snap Map World Lenses Lens Studio Multi-Snap Story Ads 2017 Reach & Frequency Product Catalogs Lens Challenges Discover Group Video Chat Snappables Lens Explorer Snap Kit Spectacles V2 Visual Search Snap Originals Snap Camera Friendship Profiles 2018 Creative Kit Web Spectacles V3 Cameos App Stories Scan AR Bar Bitmoji Stories Deep Neural Network AR Bitmoji TV Lens Web Builder Android Rebuild Creator Profiles Landmarkers Snap Games 2019 2D Body Tracking Spotlight Sounds Music Lenses Happening Now Local Lenses Camera Kit Snap Minis Snap ML Places on Snap Map Action Bar Story Replies Lens Voice Scan Dynamic Lenses Bitmoji for Games Here For You Topics for Our Story 2020 Snap Reply on Android Lens Pages on Android Cameos Stories 3D Body Tracking Friend Check Up Apps Ads Kit Sound Topics on Android Sticker Recommendations 2021 To Date 11#12Snap Inc. *7th St BRENTWOOD 14th St Jack & 3 more Now 11th St 20th St Santa Monica My Bitmoji Park Zoe 3h MAP Santa Monica +3 ENTWOOD 1 Eunice & Denise 3m Wilshire Blvd O VENICE Abbor Ai O Patrick & Alex 3m Rachel 1h Jeremy Sm Rose Ave Pey Blvd WESTWOO WEST LOS ANGELES ATELLE Evan 1m Santa Monica Municipal Airport Ben 12m Palms F Friends MAR COMMUNICATIONS a maggienel View Snap-2m-178 soccer squad ▷ Opened 7m fried chicken friday jackcatz Received from Nathan 14m Opened-21m matteo.rom Received 1h Chat donny.vin O Received 1h 95 sofia7899 Call Ended - 1h The Snapchat Experience Five core platforms frankie6895 Received 1h 83 brunch crew brian.barr Received from Christie - 2h Received 5h liz's bday (0) +2 Ⓒ CAMERA a Friends Sheila P. Subscriptions MIND YOURSELF Schizophrenia Didn't Stop His Dreams Discover STORIES Ashley A. Stories This Puppy Sounds Like A Pterodactyl SPIDER-MAN Far from Hame LI Reported sightings of Spider-Man in NYC Sponsored FIERCE Tim W. O +2 Leo W. THRILLIST You're About to Be Glued to Your Screen watchmojo EA You'd Never Recognize These Child Stars Today P The Fo Gods A Our Si SPOTLIGHT Q Spotlight L #almostpro #whattheflip O (o 30 AA 12#13Snap Inc. 1. Camera and Augmented Reality The Snap Camera drives visual communication between Snapchatters and can understand, interpret, edit, and augment a scene in real-time, which will enable the next generation of computing. Snap Inc. internal data Q4 2020. Over 5 Billion Snaps created every day on average¹ Over 200 Million Snapchatters engage with AR every day on average¹ MACHINE-LEARNING LENSES Ⓒ VISUAL SEARCH Create Scan Results 1 Josh Cellars Family Reserve North Coast Sauvignon Blanc White Wine | North Coast Our wine experts think this Californian Sauvignon Blanc wine would be a match made in heaven with these dishes. Bon appétit! 3.7.300 Ratings ✰✰✰✰✰ O Scan VIVINO Learn More $12.95 Average Price Josh T₁ Ⓒ Browse & Explore O LOCAL LENSES CO S 13#14Snap Inc. 1. 2. Communications The Communications platform is where our community expresses themselves through pictures and messages with their closest friends. Minis and Games help our community play, learn and have fun together. 30 app opens per day¹ over 30 Million Snapchatters play Games each month² Snap Inc. internal data. Average for Daily Active Users 2020. See Snap Inc. public filings with the SEC. Snap Inc. internal data January 2021. 20:13 JACK ME SEE YOU SOON Besties Heyyyyyy! Is anyone at the lake yet?? Almost there JOHN JOHN Yep! Just got here! OMG is Daisy coming too??? LIZ JACK CHAT O C HOT DIGGITY .... At Burrows Road & Bayside Drive! JOHN JENNYPENNY DIANA LIZ JACK Send a Chat > DANIEL LIVE V Email itmaji V TV GAMES bitmoji bi 0:12 Send a chat Seph KICKER bitmaji TV AV bitmaji itmo Tap to Jump! CA NR MINIS Black Widow O Scarlett Johansson reprises her role as Natasha/Black Widow in Marvel Studios' action-packed spy thriller "Black Widow"-the first film in Phase Four of the... READ MORE Movie details by Select a showtime for today in Los Angeles Cinemark Playa Vista and XD Send a Chat 14#15Snap Inc. 1. Stories Friend Stories enables our community to create and share pictures and videos from their day with their Snapchat friends, in chronological order. Discover features curated, professional content from hand-selected partners. Nearly 70% increase in time spent watching Shows in 2020¹ 25 Channels with a monthly audience of more than 20 million viewers each² Snap Inc. internal data 2020 vs. 2019. Snap Inc. internal data Q4 2020. See Snap Inc. public filings with the SEC. FRIEND STORIES Laura J 23 mins ago My hair is getting soo long O Send a chat STIITS 33 a Discover the dodo Voted This Puppy Sounds Like A Pterodactyl DISCOVER IVoted! GOOD★★★ LUCK AMERICA FIERCE THE Stories I Voted! I Voted! I Voted! Election Week 101 Today I Voted! COUNTDOWN +2 ... ADULTING EMMA CHAMBERLAIN Did I Just Screw Up My Taxes? Today CRUSHIN'IT! This Shredding Vid Is Everything Today OVERTIME NOW 15#16Snap Inc. Snap Map The Snap Map is a personalized map that connects our community with their friends and with the world around them through place listings and stories posted from our community. Over 250 Million Snapchatters use our Snap Map every month, allowing them to find the people and places that mean the most to them There are now more than 35 Million businesses on the Map for our community to discover Snap Inc. internal data Q4 2020. See Snap Inc. public filings with the SEC. BRENTWOOD *7th St 14th St Q 11th St Jack & 3 more Now 20th St Santa Monica Zoe 3h My Bitmoji MAP Santa Monica ENTWOOD 1 Eunice & Denise 3m Wilshire Blvd VENICE Abbos Го Jeremy 5m +2 Rachel 1h Patrick & Alex 3m Rose Ave Blvd WESTWOO WEST LOS ANGELES TELLE Evan 1m Santa Monical Municipal Airport Palms F MAR I Ben 12m Friends Bulletproof Coffee Pacific Ave Navy Ct Ozone Ave Rose Ct 81 enice Ale House PLACES Venice Order The Rose Venice Dudley Cr Open Now 11am-8pm Rose P The Rose Venice $$-American Cusine ●●●●0 530 reviews PB.7 810 ratings 220 Rose Ave, Venice, CA 90291 (310) 399-0711 Ⓒrosecafevenice.com Directions t Nearby Community Snaps (0) Café Gr La Isla Bonita Send > 4th C 4th Ave Gjusta 16#17Snap Inc. 1. Spotlight Spotlight surfaces the most entertaining Snaps created by our community and provides a destination to share user-generated content broadly on Snapchat, in alignment with our privacy by design approach. Over 125 Million Monthly Active Users¹ Distributing over $1 Million per day to top performing videos #dance Q Spotlight #synchronicity 3 of YOU Plotar Boa O A Snap Inc. internal data March 2021. We define a Monthly Active User as a registered Snapchat user who opens the Snapchat application at least once during the 30-day period ending on the calendar month-end. Spotlight Jasmine on+ #gymnastics #spotlight #hollywood O A A 17#18Snap Inc. Our Partner Ecosystem#19Snap Inc. 2:28 Creators Q Search +8 LENS STUDIO 5G Explore Overview of our Partner Ecosystem a Discover the dodo Publishers This Puppy Sounds Like A Pterodactyl IVoted! GOOD★★★ LUCK AMERICA THE alab FIERCE Stories I Voted! I Voted! I Voted! Election Week 101 Today I Voted! COUNTDOWN +2 ... ADULTINGC EMMA CHAMBERLAIN Did I Just Screw Up My Taxes? Today CRUSHIN'IT! O This Shredding Vid Is Everything Today OVERTIME NOWAL DISCOVER MATTERS Carlos AKB SNAP KIT Vil Developers Send a chat x1 GAMES Leave 1. 15% B.J 2. 7% 77 Zach M Bobby B 11:10 LET'S WATCH + Add option Something Nostalgic X ● Added by Alexandra Psychological Thriller Added by Mark Something Your Friend Added by Will A Musical Added by Emma Pick Randomly LET'S DO IT MINIS X 19#20Snap Inc. Our AR Creator Community Our AR community is made up of over 150,000 creators from nearly 200 countries and territories who create a wide variety of AR experiences across different geographies and cultures.¹ Over 1.5 Million lenses have been created by our community.² 1. Snap Inc. internal data 2020. 2. Snap Inc. internal data as of September 30, 2020. 20#21Snap Inc. Lens Studio: AR Creator Platform In 2017, we released the same tools used internally to develop AR lenses to our broader creator community in the form of Lens Studio, an easy to use yet incredibly powerful AR development platform. Lens Studio features simple templates of 3D models, materials, scripts, and presets to help creators build Lenses. In 2020 we released Snap ML, empowering creators to bring their own machine learnings models to Lens Studio. 7723 0 114 Parent Space Script Editor Material Editor 2:28 Q Search hert 5GE Explore S 4x 21#22Snap Inc. 1. 2. Our Publisher Partners Discover features content from over 500 hand-selected partners in 17 countries around the world.¹ REFINERY29 HAIR ME OUT I Got My Hair Done By Rihanna's Stylist Today BEAUTY Over 75 Million Snapchatters watched Beauty content each month on Discover in Q1 2021.² Snap Inc. internal data January 2015 - March 2021. Snap Inc. internal data Q1 2021. OVERTIME SPORTS NOW He's The Hardest Dunker In High School! Today Over 85 Million Snapchatters watched Sports content each month on average on Discover.² ADULTING EMMA CHAMBERLAIN Did I Just Screw Up My Taxes? Today ENTERTAINMENT Over 120 Million Snapchatters watched publisher and show content from internet creators in Q1 2021.² 22#23Snap Inc. AP ORIGINAL ve It! AP ORIGINAL D GIRLS ETECTIVE AGENCY AP ORIGINAL SNAP ORIGINAL SNAP ORIGINAL FIRST PERSON SNAP ORIGINAL Endless SNAP ORIGINAL QUEEN OF Stylez SNAP ORIGINAL ROAD hippin SNAP ORIGINAL SNAP ORIGINAL GOOD LUCK AMERICA with Peter Hamby SNAP ORIGINAL the Honeybeez of ASU SNAP ORIGINAL SNAP ORIGINAL WILL HOLIDAY SPECIAL FROM HOME SNAP ORIGINAL WASH LAUNDROMA WIL HOM FRONTLINE HEROES SNAP ORIGINAL SNAP ORIGINAL Denp NIGHT of SNAP ORIGINAL MIND YOURSELF SNAP ORIGINAL SNAP ORIGINAL Snap Inc. internal data March 31, 2021. COLIN KAEPERNICK VS THE SNAP ORIGINAL SNAP ORIGINAL NIKITA UNFILTERED SNAP ORIGINAL SNAP ORIGINAL PHOLUTII COMMIT SNAP ORIGINAL High Quality, Award-Winning Content Made for Mobile 128 Snap Original Series Launched to Date With 68 Partners SNAP ORIGINAL DRIVE COACH ΚΕΊ SNAP ORIGINAL THE SOLUTION WHILE BLACK COMMITTED DRIVEN WITH MY ASANTE XXX SNAP ORIGINAL Isac 23 SNAP ORIGIN FAKE UP SNAP ORIGIN TW SIDE SNAP ORIGIN#24Snap Inc. TEATIVED Snap Kit Over 1,000 apps have integrated with Snap Kit across our six Kits: Camera Kit, Creative Kit, Bitmoji Kit, Login Kit, Ad Kit and Story Kit. Camera KIT Extends reach of AR tech and lens creator community to partners' apps. 8:56 SENDIT'S THIS... THAT? FOR watch a movie al? play video games ទ TRAV Creative KIT Allows developer partners to share dynamic content from apps into Snapchat. 2:30 < Kyle Bon Voyage 11:00 AM +Type a message..... ||| 484% Ca #BLESSED 12:18 PM Bitmoji KIT Allows developer partners to add Bitmoji sticker library to their app or keyboard. 24#25Snap Inc. Our Advertising Business#26MOAR fla BLACK LIVES MATTER. GIVE e a Search Create REGISTERED ARE YOU .. Scan Carlos G. VOTE ED TO VOTES Ⓡ Browse - HH Explore Lor Meet the Snapchat Generation 150% The Snapchat Generation is 150% more likely than non-Snapchatters to prefer to communicate with pictures over words.¹ Snapchatters are 3X more likely than non-Snapchatters to say they are using AR more than they did last year to try on products.² 3X 1.4X 1. 2021 Global Cassandra Study commissioned by Snap Inc. I Base: Total N=27,006 respondents I Q: What portion of your digital communication includes images and media (e.g., emojis, photos, memes, video calls) versus text only (i.e., only words)? Please enter a percentage for each, your total must add up to 100%. If you do not communicate in one of these ways, please enter zero 2. 2021 Global Cassandra Study commissioned by Snap Inc. | Base: Total N=27,006 respondents Q: Which of the following, if any, are true for you? 3. 2021 Global Cassandra Study commissioned by Snap Inc. | Base: Total N=27,006 respondents Q: How much do you agree or disagree with each of the statements below? Please select one response per row. The Snapchat Generation is 1.4X more likely than non-Snapchatters to gravitate to immersive video & mobile games, including AR experiences.³ 26#27Snap Inc. 13 Years L8R First Car Why This Age Range Is Critical Common milestones in a person's life between the ages of 13 and 34. Graduates LEAVE HOME Moves Out YOU GOT IT BOSS! Starts Career First Credit Card Develops Brand Loyalty VACATION! Vacations Alone Starts Family Gets Married Buys First Home 34 Years 27#28Snap Inc. Enterprise Large Brands Our Sales Structure Agency Development Team Emerging Direct Response Scaled Services SMBs 28#29Snap Inc. Deep Domain Expertise in Key Enterprise Verticals Apps, Media & Services Uber Eats acorns FANDUEL Entertainment discovery+ Tech B XBOX SAMSUNG NISSAN Auto H HONDA gm Health & Government truth initiative LED STV Telco verizon sic Commerce hismile DECKERS -BRANDS- Restaurants PIZZA PAPA JOHNS TACO BELL M Financial Services Capital One VISA State Farm CPG Johnson & Johnson Coca-Cola Retail OTARGET adidas Travel Marriott Emirates Carnival 29#30Snap Inc. Subway Ultimate Cheesy Garlic Bread SUBWAY Commercials (:06 Forced View) Justine Creative Ad Formats That Deliver Results Chick-fil-L thankful you -FOR- Send a Chat Filter a +10 MANSCAPED MANSCAPED AR Lenses Experiences a Friends Sheila P Subscriptions YOURSELE WAS Schizophrenia Didn't Stop His Dreams Discover Stories Ashley A This Puppy Sounds Like A Pterodactyl SPIDER-MAN Reported sightings of Spider-Man in NYC Tim W FIERCE +1 Leo W. THRILLIST You're About to Be Glued to Your Screen *** The Fo Gods watchmojo You'd Never Recognize These Child Stars Today Story Ads (Series of 3-20 Snaps) Adidas More BOOST than ever before. ULTRA BOOST 19 Collection Ads Starling Brown Join The Best British Bank 2020 This isn't your average bank account. A £2,478.40 €69.54 Starling Brown Bank 2020 Install Now Snap Ad With App Install adidas Latest essentials from adidas adidas X 19.1 Turf Boots £99.95 Shop Now Dynamic Product Ads 30#31Snap Inc. The Advertiser Demand Flywheel More Demand More Efficiency Better ROI More Relevance More Diversity Better Optimization 31#32Snap Inc. What Advertisers Have To Say Enterprise We're thrilled to be an early adopter of Snapchat Brand Profiles, a great new way to showcase Universal's titles with this key audience, from augmented reality to stories. We look forward to sharing our permanent home on the platform with the world. Alex Sanger, EVP, Digital Marketing Strategy Universal Pictures Helen Lin, Chief Digital Officer Publicis Media Agency 99 This is a community that loves interacting with brands in immersive environments. AR is going to be that expected experience that everyone - the Snapchatters and future generations will all rely on. 99 66 "We're not looking to just sell our product- we're really looking to build a proper emotional, intimate connection with the people on the other side of the screen. This vehicle format is perfect for that because we can get up close and personal." Justin Gaggino, Second in Command HiSmile 66 Emerging Alix Peabody, Founder & CEO Bev Scaled Services It has become the highest performing, highest ROI platform that we use and we absolutely love it. "9 99 32#33Snap Inc. Snap Ads Discover Snapcodes Sponsored Geofilters Sponsored Lenses 2011- 2015 OS/Carrier Targeting Ads API 3P Resonance Measurement Lookalikes On-Demand Geofilters Spectacles Group Chat 2016 Story Ads Lens Studio to Ads Manager GBB App Install GBB Video View Snap Pixel Audience Lenses & Filter Snap Publisher Ads Manager 2017 A Sophisticated Ad Platform Commercials Delivery Insights Premium Content Targeting Advanced Location Targeting Conversion Lift Reach & Frequency AR in Self Serve Snappables Collection Ads GBB for conversions Product Catalogs 2018 Dynamic Ads Target Cost Bidding Bulk Editing, Cloning, Uploading Snap Select Instant Create Snap Audience Network Logos in Scan Swipe up Commercials Direct to Ticketing Brand Marker Lens 2019 Platform Bursts Brand Profiles ROAS Bidding Auction Forecasting Behavior Insights Trending on Snap Local Ads Snap Minis Place Listings Camera Kit Scan 2020 Demographic Targeting Interest-based Targeting Location Targeting Bulk CRUD Tools / Advanced Buy Flow Scalable Ads API Premium Content Targeting Advanced Delivery Options (e.g., GBBs) Audience and Delivery Insights Reach and Frequency Data from Snap Ads Manager as of April 20, 2020. Data from Facebook Ads Manager and official websites as of April 20, 2020. Data from Google Ads Manager and official websites as of April 20, 2020. Data from Twitter Ads Manager and official websites as of April 20, 2020. 33#34Snap Inc. Our ARPU Opportunity#35Snap Inc. Snapchat reaches 70%+ of 13-34 year olds in countries comprising over half the world's digital ad spend U.S. U.K. Sweden Australia Canada الله اللي ++00+= ) Norway Saudi Arabia 0 France Ireland Netherlands Denmark Luxembourg Snap Inc. internal data Q4 2020. Penetration calculated as MAU divided by 2020 population estimates, per United Nations World Population Prospects, 2019. eMarketer estimates, October 2020. 35#36Snap Inc. 1. 2. Significant DAU and ARPU Opportunity North America is critical to growing revenue in the near and medium term and we have a long runway ahead of us. 3. DAU² 195M 92M 37M $20 9 Years Old $58 15 Years Old North America¹ 17 Years Old AVERAGE REVENUE PER USER³ Comparison is illustrative as each Company calculates daily active users differently. Snap Inc. includes the U.S., Canada, Mexico, the Caribbean, and Central America. Facebook includes the U.S. and Canada only. Twitter includes the U.S. only. Snap Inc. internal data for Q4 2020 as compared to publicly reported Facebook and Twitter data for Q4 2020. We define a Daily Active User as a registered Snapchat user who opens the Snapchat application at least once during a defined 24-hour period. Twitter's monetizable Daily Active Users are shown and is defined by the Company as people, organizations, or other accounts who logged in or were otherwise authenticated and accessed Twitter on any given day through twitter.com or Twitter applications that are able to show ads. Facebook defines Daily Active Users based on user activity only on Facebook and Messenger and not on the Company's other products. Snap Inc. internal data for Q1 2020 - Q4 2020 as compared to publicly reported Facebook and Twitter data for Q1 2020 - Q4 2020. We define ARPU as quarterly revenue divided by the average Daily Active Users. Twitter's ARPU is calculated as quarterly revenue divided by the average monetizable Daily Active Users. Facebook's ARPU is calculated as quarterly revenue divided by the average Daily Active Users. ARPU is presented as annual ARPU, calculated as the sum of each reported quarterly ARPU. See Snap. Inc. public filings with the SEC. $213 36#37Snap Inc. Traditional Digital Advertising Industry Is Moving in Our Direction Expected growth in advertising market, combined with a secular shift toward Digital¹ $90 $142 2020 U.S. $96 $243 2024 1. eMarketer estimates, October 2020. 2. NielsenIQ, "Augmented retail: The new consumer reality," December 12, 2019 $184 $197 2020 $208 $300 2024 International Trends within Digital are in our favor... Mobile Video growing faster than Desktop growing faster Non-Video than AR advertising is a new frontier A majority of global consumers are willing to use AR to assess products² 37#38Snap Inc. Long-Term Value Creation#39Snap Inc. Annual infrastructure costs per DAU $1,180 2018 $2.92 Growing Revenue and Scaling Efficiently 2018 Full year revenue ($M) +46% CAGR $1,716 2019 Infra per DAU has remained relatively flat over time... $2.85 $2,507 2019 2020 $2.78 2020 Adjusted gross margin¹ Gross margin $6.29 2018 35% 2018 32% Average revenue per user +27% CAGR $8.29 2019 ...while still delivering substantial improvements in gross margins 49% 2019 48% $10.09 2020 54% 2020 53% We define ARPU as quarterly revenue by the average Daily Active Users. ARPU is presented as annual ARPU, calculated as the sum of each quarterly ARPU. See Snap Inc. public filings with the SEC. 1. Excludes stock-based compensation expense and related payroll tax expense, depreciation and amortization, and certain other non-cash or non-recurring items impacting net income (loss) from time to time. See Appendix for reconciliation of GAAP gross margins to Non-GAAP gross margins. 39#40Snap Inc. Balanced Approach to Investment Driving Path to Profitability Adjusted operating expenses as a % of revenue Total Adjusted Operating Expenses Total Non-GAAP Exclusions¹ Total GAAP Operating Expenses Free Cash Flow ($M) 84% 2018 $988 $662 Adjusted operating expense discipline... $1,650 $(810) 2018 61% 2019 $1,050 $873 $1,923 Approaching FCF breakeven... $(341) 2019 52% 2020 $1,311 $875 $2,186 $(225) 2020 Adjusted EBITDA ($M) ...leading to adjusted EBITDA profitability2 $(576) 2018 $(1,256) 2018 $(202) 2019 ...and improving net income / (loss) $(1,034) 2019 $45 2020 $(945) 2020 1. Excludes stock-based compensation expense and related payroll tax expense, depreciation and amortization, and certain other non-cash or non-recurring items impacting net income (loss) from time to time. See Appendix for reconciliation of GAAP Operating Expenses to Non-GAAP Operating Expenses. 2. We define Adjusted EBITDA as net income (loss), excluding interest income; interest expense; other income (expense), net; income tax benefit (expense); depreciation and amortization; stock-based compensation expense and related payroll tax expense; and certain other non-cash or non-recurring items impacting net income (loss) from time to time. See Appendix for reconciliation of net loss to Adjusted EBITDA. 40#41Snap Inc. 1. Building a Strong Balance Sheet to Ensure Strategic Flexibility $2.5 billion in cash and marketable securities¹ Conservative financial leverage at ~2% of market capitalization¹ No debt maturing before 2025 As of December 31, 2020. Capital Allocation Investments to Drive Organic Growth in Top Line Focus investments in our talent base to drive innovation Investments in Product and content to expand the ARPU opportunity over time Investments in Marketing to grow the community and expand our TAM Future Investments to Accelerate Product Roadmap Well established track record of acquisitions and investments to accelerate our product roadmap Building a strong balance sheet ensures we are prepared when opportunities are available 41#42Snap Inc. LOOKSERY Bitstrips PLAYCANVAS zenly Ariel Al StreetCred voca.ai FIT ANALYTICS April 2015 March 2016 March 2017 May 2017 September 2020 September 2020 December 2020 March 2021 Platform Camera Communication Games Map Camera Map Camera Camera Strategic M&A Description Application allows users to communicate through augmented reality face filters Bitmoji application lets users create customized cartoon avatars Cloud-hosted development platform for building games and 3D content Social map where you can interact with your close friends Al software enabling 3D human perception Marketplace where users are rewarded for providing location data Al-powered voice assistants intended to replace customer service agents Sizing technology company that powers solutions for retailers and brands Rationale Accelerate our augmented reality Lenses product with facial recognition technology Integrate Bitmoji avatars into Snapchat to empower self-expression Accelerate our Snap Games product roadmap Accelerate and enhance our Map platform with location-sharing capabilities Adds capabilities to our AR Lenses Critical long-term strategy to help Snapchatters understand the world around them Accelerate our Voice Al and ML efforts, which are key building blocks for our AR roadmap Grow our e-commerce and shopping offerings 42#43Snap Inc. Long Term Value Creation $ Executing our international growth playbook to grow our community for the long term Investing in innovation to deepen engagement and expand the ARPU opportunity Sophisticated ad platform, and innovative ad units, deliver return on ad spend for partners Scale operations efficiently, and balance investments with growth, to drive positive free cash flow Conservative balance sheet to prepare for the unexpected and fund the opportunistic 43#44Snap Inc. Appendix#45Snap Inc. Non-GAAP Financial Measures Reconciliation (in thousands, unaudited) Free Cash Flow Reconciliation Net cash used in operating activities Less: Purchases of property and equipment Free Cash Flow¹ Adjusted EBITDA Reconciliation Net loss Add (deduct): Interest income Interest expense Other (income) expense, net Income tax (benefit) expense Depreciation and amortization Stock-based compensation expense Payroll tax expense related to stock-based compensation Securities class actions legal charges Lease exit charges Reduction in force charges Adjusted EBITDA² $ $ 2018 (689,924) $ (120,242) (810,166) $ 2018 (1,255,911) $ (27,228) 3,894 8,248 2,547 91,648 538,211 21,927 31,143 9,884 (575,637) $ 2019 (304,958) $ (36,478) (341,436) S 2019 (1,033,660) $ (36,042) 24,994 (59,013) 393 87,245 686,013 27,840 100,000 (202,230) $ 2020 (167,644) (57,832) (225,476) 2020 (944,839) (18,127) 97,228 (14,988) 18,654 86,744 770,182 50,309 45,163 We define Free Cash Flow as net cash provided by (used in) operating activities, reduced by purchases of property and equipment. We define Adjusted EBITDA as net income (loss), excluding interest income; interest expense; other income (expensel net, income tax benefit (expense); depreciation and amortization; stock-based compensation expense and related payroll tax expense; and certain other non-cash or non-recurring items impacting net income (loss) from time to time. Securities class actions legal charges related to a preliminary agreement to settle the securities class actions that arose following our IPO. Charges recorded are net of amounts directly covered by insurance. These charges are non-recurring and not reflective of underlying trends in our business. 45#46Snap Inc. Non-GAAP Financial Measures Reconciliation (Continued) (in thousands, unaudited) Total Adjusted Cost of Revenue Total Non-GAAP Exclusions¹ Total GAAP Cost of Revenue Cost of Revenue Breakdown $768 2018 $31 $799 $868 2019 $28 $896 Excludes stock-based compensation expense and related payroll tax expense, depreciation and amortization and certain other non-cash or non-recurring items impacting net income (loss) from time to time. $1,150 2020 $33 $1,183 46