Shopify Results Presentation Deck

Sustained gross profit dollar growth balanced with investments $662M 48.5% Gross Margin Q3 2022 $798M 46.0% Gross Margin Q4 2022 $717M 47.5% Gross Margin Q1 2023 Gross Profit $835M 49.3% Gross Margin Q2 2023 ($46M) Q3 2022 $62M Q4 2022 ($31M) Q1 2023 $146M Q2 2023 Adjusted Operating Income/(Loss)* *Adjusted Operating Income excludes the effect of stock-based compensation expenses and related payroll taxes, accelerated stock-based compensation, amortization of acquired intangibles, severance related costs, and impairment on sales of Shopify's logistics businesses. Adjusted Operating Income is a non-GAAP measure, see Appendix for reconciliation. 31

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