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Investor Presentaiton

sea connecting the dots Reconciliation Between GAAP and Non-GAAP EBITDA Note: Financial figures are unaudited. US$ Thousands 4Q 2020 4Q 2021 FY 2020 FY 2021 Digital Entertainment Operating income/(loss) 397,115 Net effect of changes in deferred revenue & related cost 259,107 Depreciation and amortization Digital Entertainment Adjusted EBITDA 7,317 663,539 858,831 (266,399) 10,133 602,565 1,016,793 939,816 26,125 1,982,734 2,500,081 240,109 35,767 2,775,957 E-commerce Operating income/(loss) Depreciation and amortization E-commerce Adjusted EBITDA (467,955) 40,481 (427,474) (941,028) (1,442,593) (2,766,566) 63,291 135,685 212,345 (877,737) (1,306,908) (2,554,221) Digital Financial Services Operating income/(loss) Depreciation and amortization (174,896) 3,633 Digital Financial Services Adjusted EBITDA (171,263) (157,647) 7,834 (149,813) (520,075) 8,983 (511,092) (640,422) 23,498 (616,924) Sea 4Q2021 & FY2021 Results | 14
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