Shopify Investor Presentation Deck

Expressed in US millions GAAP Operating (loss) income add: Operating SBC and related payroll taxes add: Accelerated stock-based compensation add: Amortization of acquired intangibles add: Impairment of right-of-use assets and leasehold improvements add: Severance related costs add: Litigation contingencies add: Impairment on sale of Shopify' logistics businesses Adjusted Operating income (loss) % of Revenue 2018 (92) 104 12 1% 2019 (141) 177 10 46 3% 2020 90 294 21 32 437 15% 2021 269 397 22 30 718 16% 2022 (822) 563 54 84 30 97 6 0% Q3'22 (346) 153 19 30 97 (47) (3)% Q3'23 122 103 4 4 38 271 16% 45

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