Snap Inc Results Presentation Deck

Cost of Revenue¹ COST OF REVENUE AS A % OF REVENUE Gross Margin¹ 64% 36% Q4'17 83% 17% Q1'18 70% 30% Q2'18 -22 PPTS 64% 36% Q3'18 52% 48% Q4'18 61% 39% Q1'19 Total Non-GAAP Exclusions¹ COST OF REVENUE COMPOSITION (in millions, unaudited) Infrastructure Cost Revenue Share Cost Other $184 $25 $28 $131 Q4'17 $7 ¹Excludes stock-based compensation expense and related payroll tax expense, depreciation and amortization, and certain other non-cash or non-recurring items impacting net income (loss) from time to time. $191 $20 $32 $139 Q1'18 $5 $184 $25 $24 $136 Q2'18 $8 +2% $191 $25 $26 $140 Q3'18 $7 COST OF REVENUE INCREASED 2% YOY, WHILE REVENUE INCREASED 39% YOY $202 $28 $39 $134 Q4'18 $11 $196 $25 $35 $136 Q1'19 $8 11

View entire presentation