Snap Inc Results Presentation Deck

GAAP Gross Margin Adjusted Gross Margin and Adjusted Gross Profit'¹ (dollars in millions, unaudited) ADJUSTED GROSS MARGIN¹ 35% 2018 32% 49% 2019 48% 27 PPT margin expansion 54% 2020 53% 58% 2021 57% 62% 2022 61% GAAP Gross Profit ADJUSTED GROSS PROFIT¹ $413 2018 $382 $848 2019 ~7x growth in gross profit $820 $1,357 2020 $1,324 $2,405 FROM 2018 TO 2022, ADJUSTED GROSS MARGIN IMPROVED 27 PPT TO 62% 2021 $2,367 $2,837 2022 $2,787 'Adjusted gross margin is a non-GAAP measure, which we define as adjusted gross profit divided by GAAP revenue. Adjusted gross profit is a non-GAAP measure, which we define as GAAP revenue less adjusted cost of 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 2022, non-recurring items included restructuring charges of $21 million. See Appendix for further detail. Numbers throughout presentation may not foot due to rounding. 17

View entire presentation