Snap Inc Results Presentation Deck

Cost of Revenue¹ COST OF REVENUE AS A % OF REVENUE Gross Margin¹ 70% 30% Q2'18 64% 36% Q3'18 52% 48% Q4'18 -15 PPTS 61% 39% Q1'19 54% 46% Q2'19 49% 51% Q3'19 Total Non-GAAP Exclusions¹ COST OF REVENUE COMPOSITION (in millions, unaudited) Infrastructure Cost Revenue Share Cost Other $184 $25 $24 $136 Q2'18 $8 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 $25 $26 $140 Q3'18 $7 $202 $28 $39 $134 Q4'18 $11 +14% $196 $25 $35 $136 Q1'19 $8 COST OF REVENUE INCREASED 14% YOY, WHILE REVENUE INCREASED 50% YOY $208 $24 $37 $146 Q2'19 $8 $217 $26 $45 $146 Q3'19 $6 9

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