Spotify Results Presentation Deck

Executive Summary We ended 2022 with strong Q4 performance as nearly all of our KPIs surpassed guidance. MAU net additions reached a quarterly record-high of 33 million in Q4, 10 million above guidance. Subscriber growth also materially outperformed, exceeding guidance by 3 million net additions. Revenue growth, excluding the impact of changes in FX, was ahead of expectations. Gross Margin exceeded guidance by 80 bps due primarily to lower investment spending and broad-based music favorability. As expected, our Free Cash Flow was negative in the quarter; however, full year Free Cash Flow remained positive and we expect this trend to continue moving forward on a full year basis. Looking back on 2022 in its entirety, we are pleased with our overall results. Each year presents certain challenges and opportunities and, over the past 12 months, we largely delivered on our internal goals and we are excited about the momentum we are building heading into 2023. Spotify USER & FINANCIAL SUMMARY USERS (M) Total Monthly Active Users ("MAUS") Premium Subscribers Ad-Supported MAUS FINANCIALS (€M) Premium Ad-Supported Total Revenue Gross Profit Gross Margin Operating (Loss)/Income Operating Margin Net Cash Flows From Operating Activities Free Cash Flow¹ Q4 2021 Q3 2022 406 180 236 2,295 394 2,689 712 26.5% (7) (0.3%) 119 103 1 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. 456 195 273 2,651 385 3,036 (228) (7.5%) Q4 2022 40 35 489 205 295 750 801 24.7% 25.3% 2,717 18% 14% 449 3,166 18% (231) (7.3%) Y/Y (70) (73) 20% 14% 25% 13% -- -- Q/Q 7% 5% 8% 2% 17% 4% 7% 3

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