Shopify Results Presentation Deck

Financial highlights Revenue Revenue grew 22% YoY to $1.2B in Q1/22, representing a 2-year CAGR of 60% GMV MRR + Strong adoption of Shopify Payments, Shopify Capital, and Shopify Markets helped drive YoY Merchant Solutions revenue growth to 29% Change in app/theme store partner terms¹ (not in place in Q1/21) Macro impacts: absence of 1H 2021 stimulus, increased mobility, high inflation, strong labour markets GMV grew 16% YoY to $43.2B in Q1/22, representing a 2-year CAGR f 57% + Online and offline GMV each outpaced performance in respective markets in the U.S. Macro impacts: increased mobility and high inflation shifted spend to travel/services and discount retailers U.S. stimulus and lockdowns absent in Q1/22 MRR grew 17% YoY to $105.2M in Q1/22 + More merchants joined Shopify + Number of retail locations using POS Pro increased + Shopify Plus MRR contribution increased to 30% (vs. 26% in Q1/21) Stronger labour markets offset new business creation 1 In Q3 2021, Shopify changed our app and theme store partner terms, eliminating our revenue share on our partners' first $1M of revenue, which is annually reset on January 1st

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