Shopify Results Presentation Deck

Drivers affecting profitability expectations in 2023 Impact of our compensation leveling exercise We changed our overall compensation system to be better aligned with the market This has resulted in higher compensation expenses starting in the back half of 2022 that we expect to continue into 2023 Expense run rate of Shopify Fulfillment Network GOO Shopify Fulfillment Network is a significant opportunity in early stages of integration and development We expect SFN to be a headwind to gross margin and a significant contributor to operating expenses in 2023 34

View entire presentation