Shopify Investor Presentation Deck

2017 Q1 2018 Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 $20.7M 38% CAGR $105.2M More new merchants building businesses on the platform Q1 YOY MRR rose as more merchants joined the platform... *Monthly Recurring Revenue, or MRR, is calculated at the end of each period by multiplying the number of merchants who have subscription plans with us at the period end date by the average monthly subscription plan fee in effect on the last day of that period, assuming they maintain their subscription plans the following month. **Due to the extended 90-day free trial (offered from March 21 through May 31, 2020), MRR that normally would have been counted in Q2 2020 did not start getting charged until Q3 2020.

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