Creating Economic Impact

Investment Highlights 28 Large and Growing Opportunity Massive market with accelerated ecommerce penetration World-class Product Multichannel commerce platform that enables merchants of all sizes to sell to anyone, anywhere Powerful Business Model Success-based business model that puts merchants first Economies of Scale Innovation and Efficiencies >1.7M merchants on the platform generating data that is leveraged to enhance and create new products and improve efficiencies for Shopify, our merchants and their buyers. Vast Ecosystem Engaged and expanding partner ecosystem that is difficult to replicate Mission Driven Product-driven team focused on making commerce better for everyone Healthy Balance Sheet Strong balance sheet with a proven, disciplined capital allocation approach Significant Opportunity Ahead Focus on investing in long-term growth while maintaining operational discipline and merchant-first orientation

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