Shopify Results Presentation Deck

Expressed in US millions GAAP Operating (loss) income add: Operating SBC and SBC-related payroll taxes add: Accelerated stock-based compensation add: Amortization of acquired intangibles add: Impairment of right-of-use assets and leasehold improvements add: Severance related costs add: Impairment on sale of Shopify' logistics businesses add: Litigation contingencies Adjusted Operating income (loss) % of Revenue 2018 (92) 104 12 1% 2019 (141) 177 10 46 3% 2020 90 294 21 32 437 15% 2021 269 397 22 30 718 16% 2022 (822) 563 54 84 30 97 6 0% Q2'22 (190) 141 7 (42) (3)% Q2'23 (1,636) 120 165 9 148 1,340 146 9% 47

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