Snap Inc Results Presentation Deck

Fourth Quarter Financial Summary Revenue Operating Performance Cash ● ● Operating margin was (22)% in Q4 2022, compared to (2) % in Q4 2021. Adjusted gross margin² was 64% in Q4 2022, compared to 66% in Q4 2021. • Net loss was $288 million in Q4 2022, including restructuring charges of $34 million, compared to net income of $23 million in Q4 2021. • Adjusted EBITDA³ was $233 million in Q4 2022, compared to $327 million in Q4 2021. • Adjusted EBITDA margin³ was 18% in Q4 2022, compared to 25% in Q4 2021. ● ● ● Revenue was $1,300 million in Q4 2022, compared to $1,298 million in Q4 2021. On a constant currency basis' to account for changes in foreign exchange rates, the estimated growth was 2% year-over-year. Average revenue per user was $3.47 in Q4 2022, compared to $4.06 in Q4 2021. ● Operating cash flow was $125 million in Q4 2022, compared to $186 million in Q4 2021. Free Cash Flow³ was $78 million in Q4 2022, compared to $161 million in Q4 2021. Cash, cash equivalents, and marketable securities were $3.9 billion as of December 31, 2022. 'Constant currency revenue is a non-GAAP measure, which we define as GAAP revenue in the current period translated using the prior period average monthly exchange rates for revenue transactions in currencies other than the U.S. dollar. The constant currency revenue percentage change is determined using current period constant currency revenue and prior period GAAP revenue. ²Adjusted gross margin is a non-GAAP measure, which we define as GAAP revenue less adjusted cost of revenue divided by GAAP revenue. Adjusted cost of revenue is a non-GAAP measure and excludes stock-based compensation expense, payroll and other tax expense related to stock-based compensation, depreciation and amortization, and certain other non-cash or non-recurring items impacting net income (loss) from time to time. ³Adjusted EBITDA margin is a non-GAAP measure, which we define as Adjusted EBITDA divided by GAAP revenue. See Appendix for non-GAAP measures of Adjusted EBITDA and Free Cash Flow, including reconciliations of net loss to Adjusted EBITDA and net cash provided by (used in) operating activities to Free Cash Flow. Quarterly information is unaudited. Numbers throughout presentation may not foot due to rounding. Q4 2022 REVENUE WAS $1.3 BILLION; ON A CONSTANT CURRENCY BASIS¹, ESTIMATED GROWTH OF 2% YoY FREE CASH FLOW WAS $78 MILLION IN Q4 2022 3

View entire presentation