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 1,250.3 75% 662.1 40% 423.3 26% 245.4 15% (80.5) -5% Stock-based compensation Twelve months ended - 2019 15.8 1% (147.6) -9% (31.4) -2% (66.4) -4% 261.2 16% Acquisition-related and other expenses $ 0% (14.5) -1% 0% (1.4) 0% 15.9 1% Amortization of acquired intangible assets 3.4 0% 0% (5.0) 0% 0% 8.4 1% Non-GAAP 1,269.5 76% 500.0 30% 386.9 23% 177.6 11% 205.0 12%

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