#12017 Annual Shareholders Meeting May 22, 2017 San Francisco, CA#2Metrics and non-GAAP information The numbers of active users presented are based on internal company data. While these numbers are based on what we believe to be reasonable estimates for the applicable period of measurement, there are inherent challenges in measuring usage and user engagement across our large user base around the world. For example, there are a number of false or spam accounts in existence on our platform. We have performed an internal review of a sample of accounts and estimate that false or spam accounts represented less than 5% of our MAUS as of December 31, 2016. In making this determination, we applied significant judgment, so our estimation of false or spam accounts may not accurately represent the actual number of such accounts, and the actual number of false or spam accounts could be higher than we have estimated. We are continually seeking to improve our ability to estimate the total number of spam accounts and eliminate them from the calculation of our active users, and in the past have made improvements in our spam detection capabilities that have resulted in the suspension of a large number of accounts. Spam accounts that we have identified are not included in the active user numbers presented. We treat multiple accounts held by a single person or organization as multiple users for purposes of calculating our active users because we permit people and organizations to have more than one account. Additionally, some accounts used by organizations are used by many people within the organization. As such, the calculations of our active users may not accurately reflect the actual number of people or organizations using our platform. Our metrics are also affected by applications that automatically contact our servers for regular updates with no discernible user- initiated action involved, and this activity can cause our system to count the users associated with such applications as active users on the day or days such contact occurs. As of December 31, 2016, approximately 8.5% of users used third-party applications that may have automatically contacted our servers for regular updates without any discernible additional user-initiated action. As such, the calculations of our active users presented here may be affected as a result of this activity.#3Metrics and non-GAAP information (cont.) In addition, our data regarding user geographic location for purposes of reporting the geographic location of our MAUS is based on the IP address or phone number associated with the account when a user initially registered the account on Twitter. The IP address or phone number may not always accurately reflect a user's actual location at the time such user engaged with our platform. For example, a mobile user may appear to be accessing Twitter from the location of the proxy server that the user connects to rather than from a user's actual location. We regularly review and may adjust our processes for calculating our internal metrics to improve their accuracy. Our measures of user growth and user engagement may differ from estimates published by third parties or from similarly-titled metrics of our competitors due to differences in methodology. We present and discuss our total audience based on both internal metrics and relying on data from Google Analytics, which measures ogged out visitors to our properties. We define monthly active users (MAUS) as Twitter users who logged in or were otherwise authenticated and accessed Twitter through our website, mobile website, desktop or mobile applications, SMS or registered third-party applications or websites in the 30-day period ending on the date of measurement. Average MAUs for a period represent the average of the MAUS at the end of each month during the period. We define daily active users or daily active usage (DAU) as Twitter users who logged in or were otherwise authenticated and accessed Twitter through our website, mobile website or mobile applications on any given day. Average DAU for a period represents the number of DAUs on each day of such period divided by the number of days for such period. To calculate the year-over-year change in DAUS, we subtract the average DAU for the three months ended in the previous year from the average DAU for the same three months ended in the current year and divide the result by the average DAU in the previous year. Prior to Q3 2016, Twitter has discussed DAUS and the ratio of monthly active users (MAUS) to DAUs. In those instances, for comparability and consistency with MAUS, DAUs also included users who accessed Twitter through our desktop applications and third-party properties.#4Metrics and non-GAAP information (cont.) We define Adjusted EBITDA as net loss adjusted to exclude stock-based compensation expense, depreciation and amortization expense, interest and other expenses, provision (benefit) for income taxes, restructuring charges and one-time nonrecurring gain, if any. This presentation includes certain non-GAAP financial measures as defined by SEC rules. As required by Regulation G, we have provided a reconciliation of those measures to the most directly comparable GAAP measures, which is available at https://investor.twitterinc.com/index.#5Forward-looking statements During the course of this Annual Meeting of Stockholders, the Company executive team may make forward- looking statements regarding future events or of the future financial performance of the Company, all of which involve risks and uncertainties. Such statements are only predictions and actual results and events could differ materially from those predictions due to a number of risks. I refer you to the documents that we file with the Securities and Exchange Commission, specifically our quarterly report of Form 10-Q which was filed on May 2, 2017. That document contains important information about factors that could cause our results to differ materially from those contained in our projections or forward-looking statements.#6WA Jack Dorsey CEO | @jack Anthony Noto COO & CFO | @anthonynoto Vijaya Gadde General Counsel | @vijaya#7What's happening? shan#8Audience Content Revenue#9Audience Core use case Safety#10• Audience Timeline ..... TWTR Happening now 12 Jacksonville St vs. Louisville P 9:15 AM Marquette vs. South Carolina Michie Cao joined a conversation Jen Cotton @jencotton 9/20/16 Replying to @umang @aasthabhargava 2 The best donut shop in SF has got to be Dynamo Donut & Coffee. Hands down. 100% 95 2 172 EEST AND SECOND Seton Hall vs Arkansas Michie Cao @komichiewa 9/20/16 No way, Jen! If you really want the best donuts, you must go to Bob's Donut in Nob Hill. It is the best way to end a night out. h 2 Terri Burns and Deepak Rao liked Somas Thyagaraja @justsomas 8m Notifications .... TWTR TWITTER. 11:15 Thursday, May 4 100% now News for you: House narrowly passes health care bill, 217 to 213 Press for more#11Safety Communication Tools Technology#12✰ Recent product launches Twitter Lite 2:45 TUESDAY, AUGUST 15 Disha Goenka @disha is now following you! mobile.twitter.com 2:45 PM Search Twitter #EsportsWeeldy Explore LIVE MA 5:15 PM Everything Esports #EsportsWeekly TRENDING NOW #National PopcornDay 205k Tweets #WednesdayWisdom 115k Tweets More Erin Andrews miennlim and maileen are Tweeting about this .... AT&T LTE Cancel Safety 7:53 AM Add muted word MUTE FROM Home timeline Notifications #SpoilerAlert You can mute one word, phrase, @username, or hashtag at a time. Learn more From anyone From people you don't follow * 100% For how long? Save Forever >#13Audience growth DAU Daily active users YIY growth rate 3% Q1'16 5% Q2'16 7% Q3'16 11% Q4'16 14% Q1'17 MAU Monthly active users Millions 310 Q1'16 313 Q2'16 317 319 Q3'16 Q4'16 328 Q1'17#14Anthony Noto COO & CFO | @anthonynoto#15Content Live-streaming video#16Bloomberg LYNX Sports Bloomberg Daybreak Americas DREAM News and Politics POUND'S PRECIPITOUS SLIDE RISKS DOING U.K. MORE HARM THAN GOOD LYNX 32 nonst Bloomberg 1 Li Entertainment eSports MAROM#17✰ Content Live premium video 800+ Hours of live premium video 200+ Premium content partners Q1 2017 450+ Events 45m Unique viewers 60% International 55% under 25#18Revenue#19Revenue $1.4B FY'14 $2.2B FY'15 Advertising: O&O FY'15-FY'16 GROWTH RATE TOTAL REVENUE 14% $2.5B FY'16 26% DL & Other 34% Non-O&O 10% O&O Advertising: Non-O&O $548M Q1'17 Q1'16 vs Q1'17 GROWTH RATE TOTAL REVENUE -8% 17% DL & Other -8% Non-O&O -11% O&O Data Licensing and Other#20Profitability trends - $578M -41% FY'14 GAAP Net Income % of total revenue - $521M -23% FY'15 - $457M -18% FY'16 - $62M -11% Q1'17 $301M 21% FY¹14 Adjusted EBITDA % of total revenue $558M 25% FY'15 $751M 30% FY'16 $170M 31% Q1'17#21Cash flow trends Cash Flow from Operations $82M FY¹14 $383M FY'15 $763M FY'16 $203M Q1'17 -$261M FY¹14 Free Cash Flow* $5M FY'15 $444M FY'16 $126M Q1'17 - Free Cash Flow: Net cash provided by (used in) operating activities less capital expenditures.#22Adjusted EBITDA reconciliation Net loss Stock-based compensation expense Depreciation and amortization expense Interest and other expense, net Provision (benefit) for income taxes Restructuring charges and one-time, non-recurring gain Adjusted EBITDA Reconciliation of Net Loss to Adjusted EBITDA FY 2014 ($577,820) 631,597 208,165 39,485 (531) $300,896 FY 2015 ($521,031) 682,118 312,823 83,269 (12,274) 12,902 $557,807 FY 2016 ($456,873) 615,233 402,172 73,626 16,039 101,296 $751,493 Three months ended March 31, 2017 ($61,559) 116,997 102,792 18,087 3,194 (9,572) $169,939#23Adjusted free cash flow reconciliation Net cash provided by operating activities Less: Purchases of property and equipment Less: Equipment purchases under capital leases Free cash flow Reconciliation of Adjusted Free Cash Flow FY 2014 $81,796 (201,630) (140,685) ($260,519) FY 2015 $383,066 (347,280) (31,215) $4,571 FY 2016 $763,055 (218,657) (100,281) $444,117 Three months ended March 31, 2017 $203,448 (39,881) (37,434) $126,133#24#25Vijaya Gadde General Counsel | @vijaya#26Order of business#27Q&A#28Thank you