Snap Inc Results Presentation Deck

Cost of Revenue¹ (unaudited) Cost of Revenue Composition (in millions) Hosting Cost Revenue Share Cost Other SBC-Related Expense D&A Expense Inventory-Related Charges: Total $142 $20 $23 $99 Q1'17 $20 $2 $22 $147 $18 $23 $106 Q2'17 $2 $3 $5 $164 $21 $22 $121 Q3'17 $2 $5 $40 $47 $184 $25 $28 $131 Q4'17 $2 $5 $7 $191 $20 $32 $139 Q1'18 $5 $5 ARPU and CORPU² Hosting Cost Revenue Share Cost Other Total CORPU Global ARPU CORPU Gross Margin¹ $0.90 $0.85 5% Q1'17 $0.60 $0.14 $0.11 $0.85 $1.05 $0.85 19% Q2'17 $0.61 $0.13 $0.11 $0.85 $1.17 $0.92 21% Q3'17 $0.68 $0.12 $0.12 $0.92 $1.53 $0.98 36% Q4'17 $0.70 $0.15 $0.13 $0.98 Numbers may not foot due to rounding. ¹Excludes stock-based compensation expense and related payroll tax expense (SBC-Related Expense), depreciation and amortization (D&A Expense), and certain other non-cash or non-recurring items impacting net income (loss) from time to time (Spectacles Inventory-Related Charges). 2We define CORPU as quarterly cost of revenue excluding SBC-Related Expense, D&A Expense, and certain other non-cash or non-recurring items impacting net income (loss) from time to time divided by the average Daily Active Users in the quarter. $1.21 $1.00 17% Q1'18 $0.73 $0.17 $0.11 $1.00 6

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