Snap Inc Results Presentation Deck

Adjusted Gross Margin and Adjusted Cost of Revenue¹ (dollars in millions, unaudited) Adjusted Cost of Revenue as a % of Revenue ADJUSTED GROSS MARGIN¹ 66% Q4'21 34% 61% Q1'22 39% 61% Q2'22 39% - 5 PPT 61% Q3'22 9% 64% Q4'22 36% 56% Q1'23 44% Total Non-GAAP Exclusions Total GAAP Cost of Revenue ADJUSTED COST OF REVENUE¹ COMPOSITION Infrastructure Costs Content & Developer Partner Costs $442 $143 $87 $212 Q4'21 $8 $449 $413 $146 $73 $194 Q1'22 $8 $421 $438 $162 $76 $201 Q2'22 $8 $446 Advertising Partner & Other Costs + 5% $446 $160 $74 $212 Q3'22 $21 $467 $468 $176 $80 $212 Q4'22 CONTENT & DEVELOPER PARTNER COSTS DOWN $21 MILLION FROM Q2 2022, IN LINE WITH $50 MILLION REDUCTION IN ANNUALIZED FIXED CONTENT COSTS ANNOUNCED IN Q3 2022 $13 $481 $435 $141 $66 $228 Q1'23 $5 $440 'Adjusted gross margin is a non-GAAP measure, which we define as GAAP revenue less adjusted cost of revenue divided by GAAP revenue. Adjusted cost of revenue is a non-GAAP measure and excludes stock-based compensation expense, payroll and other tax expense related to stock-based compensation, depreciation and amortization, and certain other non-cash or non-recurring items impacting net income (loss) from time to time. In Q3 2022 and Q4 2022, non-recurring items included restructuring charges of $14 million and $7 million, respectively. See Appendix for further detail. Numbers throughout presentation may not foot due to rounding. 10

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