Snap Inc Results Presentation Deck

Adjusted EBITDA and Free Cash Flow¹ (in millions, unaudited) D&A Expense Adjusted EBITDA Q1'17 $(188) $(173) $12 Free Cash Flow Q2'17 $(194) $13 $(229) Q3'17 $(179) $17 $(220) Q4'17 $(159) $19 $(197) Q1'18 $(218) $22 $(268) Modest capital expenditures result in stronger FCF conversion over time ¹We define Adjusted EBITDA as net income (loss), excluding interest income; interest expense; other income (expense), net; income tax benefit (expense); depreciation and amortization; stock-based compensation expense and related payroll tax expense; and certain other non-cash or non-recurring items impacting net income (loss) from time to time. We define Free Cash Flow as net cash used in operating activities, reduced by purchases of property and equipment. See appendix for reconciliation of net loss to Adjusted EBITDA and net cash used in operating activities to Free Cash Flow. 9

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