Snap Inc Results Presentation Deck

Adjusted Gross Margin and Adjusted Cost of Revenue¹ (dollars in millions, unaudited) Adjusted Cost of Revenue as a % of Revenue ADJUSTED GROSS MARGIN¹ 60% Q3'21 40% 66% Q4'21 61% Q1'22 39% - 2 PPT 61% Q2'22 61% Q3'22 64% Q4'22 6% Total Non-GAAP Exclusions Total GAAP Cost of Revenue ADJUSTED COST OF REVENUE¹ COMPOSITION Infrastructure Costs Content & Developer Partner Costs $429 $149 $78 $202 Q3'21 $14 $443 $442 $143 $87 $212 Q4'21 $8 $449 $413 ADJUSTED GROSS MARGIN' IMPROVED 3 PPT QOQ $146 $73 $194 Q1'22 $8 $421 Advertising Partner & Other Costs + 6% $438 $162 $76 $201 Q2'22 $8 $446 $446 $160 $74 $212 Q3'22 $21 $467 $468 $176 $80 $212 Q4'22 $13 $481 'Adjusted gross margin is a non-GAAP measure, which we define as GAAP revenue less adjusted cost of revenue divided by GAAP revenue. Adjusted cost of revenue is a non-GAAP measure and excludes stock-based compensation expense, payroll and other tax expense related to stock-based compensation, depreciation and amortization, and certain other non-cash or non-recurring items impacting net income (loss) from time to time. In Q3 2022 and Q4 2022, non-recurring items included restructuring charges of $14 million and $7 million, respectively. See Appendix for further detail. Numbers throughout presentation may not foot due to rounding. 9

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