Spotify Results Presentation Deck

Revenue Consistent Premium growth, led by subscribers Premium Revenue grew 11% Y/Y to €2,773 million (or 14% Y/Y constant currency*), reflecting subscriber growth of 17% Y/Y and a Premium ARPU* decline of 6% Y/Y to €4.27 (or down 3% constant currency*). Excluding the impa of FX, ARPU performance was impacted by product and market mix. Broad based Ad-Supported growth Ad-Supported revenue grew 12% Y/Y (or 15% Y/Y constant currency*), reflecting double-digit Y/Y growth across nearly all regions. Music advertising revenue grew mid single-digits Y/Y, reflecting double-digit Y/Y growth in impressions sold, partially offset by softer pricing due to the macroeconomic environment. Podcast advertising revenue growth re-accelerated to more than 30% Y/Y with sold impressions across Original and Licensed podcasts and the Spotify Audience Network hitting an all-time-high, partially offset by softer pricing. The Spotify Audience Network saw double digit Q/Q growth in participating advertisers and publishers and high single digit Q/Q growth in participating shows. Spotify €12,500 €10,000 €7,500 €5,000 €2,500 €3,000 €2,000 €1,000 €0 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Premium Revenue, LTM* (€M) Premium ARPU i Q3'20 Q4'20 Q1'21 Q221 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23. Ad-Supported Revenue, LTM* (EM) - Ad-Supported Revenue As % Of Total Revenue * Constant Currency adjusted measures are non-IFRS measures. See "Use of Non-IFRS Measures" and "Reconciliation of IFRS to Non-IFRS Results" for additional information. ARPU means Premium Average Revenue per User. Last Twelve Months (LTM) represents annual performance covering the preceding 12 months relative to the last day of the quarter. €6.00 €5.00 €4.00 €3.00 €2.00 25% 20% 15% 10% 5% 9

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