Shopify Investor Presentation Deck

Monthly Recurring Revenue continues to grow $38M Q3 2018 Q3 2019 30% 5-Year CAGR Q3 2020 Q3 2021 Q3 2022 $141M Q3 2023 * Monthly Recurring Revenue, or MRR, is calculated at the end of each period by multiplying the number of merchants who have subscription plans with us at the period end date by the average monthly subscription plan fee in effect on the last day of that period, assuming they maintain their subscription plans the following month. 27

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