Spotify Results Presentation Deck

Executive Summary Nearly all of our key metrics surpassed guidance in Q2'22, led by MAU and Subscriber outperformance, healthy Revenue growth and a modestly better Operating Loss. Most notably, MAU performance accelerated this quarter, with net additions reaching a record Q2 high of 19 million¹. Reported Gross Margin was negatively impacted by our decision to stop manufacturing Car Thing, partially offset by a positive change in prior period estimates for rights holder liabilities. Excluding the one-time charge and change in accruals, Gross Margin of 25.3%² was modestly ahead of guidance. Free Cash Flow was a positive €37 million. While we continue to monitor the uncertain macro environment, we are very pleased with the resilience of the business, particularly our strength in MAUs and Subscribers. Spotify USER & FINANCIAL SUMMARY USERS (M) Total Monthly Active Users ("MAUS") Premium Subscribers Ad-Supported MAUS FINANCIALS (EM) Premium Ad-Supported Total Revenue Gross Profit Gross Margin Adjusted Gross Margin² Operating (Loss)/Income Operating Margin Net Cash Flows From Operating Activities Free Cash Flow³ Q2 2021 Q1 2022 365 165 210 2,056 275 2,331 663 28.4% 26.5% 12 0.5% 1 Excludes the effects of our exit from Russia and the brief service outage benefit we experienced in March. 2 Adjusted Gross Margin is a non-IFRS measure. See "Use of Non-IFRS Measures" and "Reconciliation of IFRS to Non-IFRS Results" for additional information. 3 Free Cash Flow is a non-IFRS measure. See "Use of Non-IFRS Measures" and "Reconciliation of IFRS to Non-IFRS Results" for additional information. 54 34 422 182 252 2,379 282 2,661 671 25.2% Q2 2022 37 22 433 19% 188 14% 256 22% Y/Y Q/Q 2,504 22% 360 31% 2,864 23% (6) (194) (0.2%) (6.8%) 704 6% 24.6% 25.3% 39 37 -- -- 11 -- 3% 3% 2% 5% 28% 8% 5% 3

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