Dropbox Investor Presentation Deck

Non-GAAP reconciliation Gross profit Gross margin Research and development Research and development margin Sales and marketing Sales and marketing margin General and administrative General and administrative margin Income (loss) from operations Operating margin $ GAAP 341.1 76% 176.9 40% 106.3 24% 64.5 14% (6.6) -1% $ Three months ended December 31, 2019 Stock-based compensation 4.0 1% (40.5) -9% (7.8) -2% (17.0) -4% 69.3 16% Acquisition-related and other expenses $ (4.1) -1% (0.4) 4.5 1% Amortization of acquired intangible $ assets 0.9 (1.4) 2.3 1% $ Non-GAAP 346.0 78% 132.3 30% 97.1 22% 47.1 11% 69.5 16% 37

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