Shopify Investor Presentation Deck

Expressed in US$000s GAAP Research and development less: Research and development SBC and SBC-related payroll taxes less: Amortization of acquired intangibles less: Severance related costs Non-GAAP Research and development % of Revenue GAAP General and administrative less: General and administrative SBC and SBC-related payroll taxes less: Impairment of right-of-use assets and leasehold improvements less: Severance related costs less: Litigation contingencies Non-GAAP General and administrative % of Revenue 2018 230,674 59,575 171,099 16% 107,444 17,690 89,754 8% 2019 355,015 104,645 232 250,138 16% 153,765 29,861 123,904 8% 2020 552,127 188,249 233 363,645 12% 245,343 52,195 31,623 161,525 6% 2021 854,383 250,787 206 603,390 13% 374,844 91,337 30,145 253,362 5% 2022 1,503,234 396,057 76 8,402 1,098,693 20% 707,765 93,206 84,314 11,234 97,000 422,011 8% Q4'21 273,912 74,932 32 198,948 14% 101,054 18,735 82,319 6% Q4'22 440,547 103,587 336,960 19% 214,651 24,447 84,314 105,890 6% 40

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