Dropbox Investor Presentation Deck

Dropbox Financial Strategy: Maintaining LT Margin Targets Dropbox 80%-82% Non-GAAP Gross Margin $1 Bn Free Cash Flow by 2024 30% -32% Non-GAAP Operating Margin *Note: Operating margin is non-GAAP and excludes stock-based compensation expense and certain non-recurring adjustments. Free cash flow is GAAP net cash provided by operating activities less capital expenditures. See appendix for non-GAAP reconciliation. 23

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