Dropbox Investor Presentation Deck

Strong Performance at Scale $1,392 2018 $1,661 2019 Revenue ($M) $1,914 2020 $362 2018 $392 2019 $491 2020 Free Cash Flow ($M) 75% 2018 76% 2019 79% 2020 12% 2018 12% 2019 21% *Note: Non-GAAP gross margin and non-GAAP operating margin exclude stock-based compensation expense and certain non-recurring adjustments. Free cash flow is GAAP net cash provided by operating activities less capital expenditures. See appendix for non-GAAP reconciliation. 2020 Non-GAAP Gross Margin Non-GAAP Operating Margin 21

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