Shopify Investor Presentation Deck

Reconciliation of GAAP to Non-GAAP Figures Expressed in US millions GAAP Gross profit add: SBC and related payroll taxes add: Amortization of acquired intangibles Adjusted Gross profit % of Revenue GAAP Sales and marketing less: Sales and marketing SBC and related payroll taxes less: Accelerated stock-based compensation less: Amortization of acquired intangibles less: Severance related costs Adjusted Sales and marketing % of Revenue 2018 596 3 5 604 56% 350 24 326 30% 2019 866 4 9 879 56% 473 38 434 28% 2020 1,542 7 19 1,568 54% 602 46 2 554 19% 2021 2,481 8 20 2,509 54% 902 47 2 853 18% 2022 2,754 9 49 2,812 50% 1,230 65 5 11 1,149 21% Q3'22 662 2 17 681 50% 302 17 2 11 272 20% Q3'23 901 4 905 53% 295 13 278 16% 42

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