BLOCK Investment & Profitability Ecosystem Overview

BLOCK MARKET OPPORTUNITY SQUARE Square represents a ~$120B gross profit opportunity - $81 B U.S. Commerce Integrated Payments Software $16 B + В U.S. Banking Square Loans Financial Services $25 B International Integrated Payments Software Financial Services $120 B Opportunity Sources: Square internal company data, 2017 U.S. Census, The Nilson Report. For further information on how we calculate "U.S. Commerce," "U.S. Banking," and "International" opportunity, please see Appendix. 7

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