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 61% Q2'22 39% 61% Q3'22 39% 64% Q4'22 36% - 7 PPT 56% Q1'23 44% 54% Q2'23 46% 54% Q3'23 46% Total Non-GAAP Exclusions Total GAAP Cost of Revenue ADJUSTED COST OF REVENUE¹ COMPOSITION Infrastructure Costs Content & Developer Partner Costs $438 $162 $76 $201 Q2'22 $8 $446 $446 $160 $74 $212 Q3'22 $21 $467 $468 $176 $80 $212 Q4'22 $13 $481 Advertising Partner & Other Costs + 23% $435 $141 $66 $228 Q1'23 $5 $440 $491 $142 $72 $277 Q2'23 $6 $497 INFRASTRUCTURE COSTS INCREASED 16% QOQ, DRIVEN PRIMARILY BY INVESTMENTS IN MACHINE LEARNING AND AI TO SUPPORT MONETIZATION, CONTENT ENGAGEMENT, AND AR $550 $156 $73 $320 Q3'23 $6 $556 '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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