#1Q1 2022 Earnings Report © 2022 Pinterest. All rights reserved.#2Non-GAAP Financial Measures To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States ("GAAP"), we use the following non-GAAP financial measures: Adjusted EBITDA, Adjusted EBITDA margin, and non-GAAP costs and expenses (including non-GAAP cost of revenue, research and development, sales and marketing, and general and administrative). The presentation of these financial measures is not intended to be considered in isolation, or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In addition, these measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparative purposes. We compensate for these limitations by providing specific information regarding GAAP amounts excluded from these non-GAAP financial measures. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the Appendix. © 2022 Pinterest. All rights reserved. Limitation of Key Metrics and Other Data The numbers for our key metrics, which include our monthly active users (MAUs) and average revenue per user (ARPU), are calculated using internal company data based on the activity of user accounts. We define a monthly active user as an authenticated Pinterest user who visits our website, opens our mobile application or interacts with Pinterest through one of our browser or site extensions, such as the Save button, at least once during the 30-day period ending on the date of measurement. We measure monetization of our platform through our average revenue per user metric. We define ARPU as our total revenue in a given geography during a period divided by average MAUS in that geography during the period. We calculate average MAUs based on the average of the number of MAUs measured on the last day of the current period and the last day prior to the beginning of the current period. We calculate ARPU by geography based on our estimate of the geography in which revenue-generating activities occur. We use these metrics to assess the growth and health of the overall business and believe that MAUs and ARPU best reflect our ability to attract, retain, engage and monetize our users, and thereby drive revenue. While these numbers are based on what we believe to be reasonable estimates of our user base for the applicable period of measurement, there are inherent challenges in measuring usage of our products across large online and mobile populations around the world. In addition, we are continually seeking to improve our estimates of our user base, and such estimates may change due to improvements or changes in technology or our methodology. All information provided in this presentation is as of April 27, 2022. We undertake no duty to update this information unless required by law. All information provided in this presentation is unaudited. 2#378% $485 $7 $69 $410 Q121 Rest of World 125% $613 $13 $92 $508 Q221 Revenue (in millions) Europe 43% $633 $17 $89 $526 Q321 20% $847 $25 $132 $689 Q421 U.S. & Canada 18% $575 $17 $87 $470 Q122 Y/Y growth rate Note: Revenue is geographically apportioned based on our estimate of the geographic location of our users when they perform a revenue-generating activity. Geographic breakdown may not sum to Global due to rounding; quarterly amounts may not sum to annual due to rounding. © 2022 Pinterest. All rights reserved. +18% Global Y/Y +15% U.S. & Canada Y/Y +27% Europe Y/Y +152% Rest of World Y/Y 3#430% 478 234 136 109 Q121 Rest of World Monthly active users (in millions) 9% 454 231 123 100 Q221 Europe 1% 444 228 119 98 Q321 -6% 431 215 122 U.S. & Canada 95 Q421 -9% 433 220 120 94 Q122 Y/Y growth rate Note: We define a monthly active user as an authenticated Pinterest user who visits our website, opens our mobile application or interacts with Pinterest through one of our browser or site extensions, such as the Save button, at least once during the 30-day period ending on the date of measurement. We present MAUs based on the number of MAUs measured on the last day of the current period. Geographic breakdown may not sum to Global due to rounding. © 2022 Pinterest. All rights reserved. (9)% Global Y/Y (13)% U.S. & Canada Y/Y (12)% Europe Y/Y (6)% Rest of World Y/Y 4#5Global $1.04 Q121 Europe $0.51 Q121 $1.32 Q221 $0.72 Q221 Average revenue per user $1.41 Q321 $0.74 Q321 $1.93 Q421 $1.10 Q421 $1.33 Q122 $0.72 Q122 U.S. & Canada $3.79 Q121 $4.87 Q221 Rest of World $0.03 $0.06 Q121 Q221 $5.32 Q321 $0.08 Q321 $7.17 Q421 $0.11 Q421 $4.98 Q122 $0.08 Q122 Note: We measure monetization of our platform through our average revenue per user metric. We define ARPU as our total revenue in a given geography during a period divided by average MAUs in that geography during the period. We calculate average MAUs based on the average of the number of MAUS measured on the last day of the current period and the last day prior to the beginning of the current period. We calculate ARPU by geography based on our estimate of the geography in which revenue-generating activities occur. © 2022 Pinterest. All rights reserved. +28% Global Y/Y +31% U.S. & Canada Y/Y +40% Europe Y/Y +164% Rest of World Y/Y 5 LO#6Cost of Revenue 27% 132 Q121 S&M 24% 118 Non-GAAP costs and expenses (in millions) Q121 20% 126 Q221 25% 150 Q221 20% 125 Q321 23% 143 Q321 % of revenue 16% 139 Q421 21% 177 25% % of revenue Q421 144 Q122 28% 162 Q122 R&D 24% 115 Q121 G&A 9% 42 Q121 18% 111 Q221 9% 55 Q221 19% 118 Q321 8% 52 Q321 - 15% % of revenue 126 Q421 7% 61 25% Q421 143 Q122 % of revenue 10% 55 Q122 Note: Costs and expenses are non-GAAP financial measures, which exclude share-based compensation (SBC), amortization of acquired intangible assets, and non-cash charitable contributions. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the tables included in the Appendix at the end of this release. Ⓒ2022 Pinterest. All rights reserved. +9% CORY/Y +24% R&D Y/Y +37% S&M Y/Y +31% G&A Y/Y 6#717% $84 Q121 Adjusted EBITDA 29% $178 Q221 Adjusted EBITDA (in millions) 32% $201 Q321 - 41% $351 Q421 Adjusted EBITDA Margin % 13% $77 Q122 Note: Adjusted EBITDA is a non-GAAP financial measure. We define adjusted EBITDA as net income (loss) adjusted to exclude depreciation and amortization expense, share-based compensation expense, interest and other (income) expense, net and provision for (benefit from) income taxes, and non-cash charitable contributions. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the tables included in the Appendix at the end of this release. © 2022 Pinterest. All rights reserved. (8)% Adj. EBITDA Y/Y 7#8Appendix Ⓒ2022 Pinterest. All rights reserved.#9GAAP to non-GAAP costs and expenses reconciliation (in millions) Cost of revenue Research and development Sales and marketing General and administrative Total costs and expenses Cost of revenue Research and development Sales and marketing General and administrative Total costs and expenses GAAP $146.1 195.5 174.0 63.0 $578.6 GAAP $141.2 240.9 190.5 94.6 $667.2 Quarter ended March 31, 2022 Share-based compensation $1.2 52.9 11.8 7.4 $73.2 Quarter ended December 31, 2021 Share-based compensation Amortization $0.7 0.0 0.1 0.2 1.0 $1.9 115.0 13.4 9.0 $139.4 Amortization $0.3 0.0 0.0 0.2 $0.5 Note: Totals may not sum due to rounding. © 2022 Pinterest. All rights reserved. 1: Other expense is comprised of non-cash charitable contributions. Other expense $0.0 0.0 0.0 0.0 0.0 Other expense $0.0 0.0 0.0 24.8¹ 24.8 Non-GAAP $144.2 142.7 162.0 55.4 $504.3 Non-GAAP $139.0 125.8 177.1 60.6 $502.5 9#10GAAP to non-GAAP costs and expenses reconciliation (in millions) Cost of revenue Research and development Sales and marketing General and administrative Total costs and expenses Cost of revenue Research and development Sales and marketing General and administrative Total costs and expenses GAAP $126.8 185.9 156.1 65.7 $534.5 GAAP $127.8 181.7 164.3 68.1 $542.0 Quarter ended September 30, 2021 Share-based compensation $2.0 67.5 13.4 13.4 $96.3 Quarter ended June 30, 2021 Share-based compensation Amortization $0.1 0.0 0.0 0.2 $0.3 $2.2 70.7 14.0 13.4 $100.3 Amortization $0.1 0.0 0.0 0.2 $0.3 Note: Totals may not sum due to rounding. © 2022 Pinterest. All rights reserved. Other expense $0.0 0.0 0.0 0.0 0.0 Other expense $0.0 0.0 0.0 0.0 0.0 Non-GAAP $124.7 118.5 142.7 52.1 $437.9 Non-GAAP $125.5 111.0 150.3 54.6 $441.5 10#11GAAP to non-GAAP costs and expenses reconciliation (in millions) Cost of revenue Research and development Sales and marketing General and administrative Total costs and expenses GAAP $133.5 171.7 130.3 72.6 $508.1 Quarter ended March 31, 2022 Share-based compensation $1.3 56.5 11.9 9.8 $79.5 Amortization $0.1 0.0 0.0 0.2 $0.3 Note: Totals may not sum due to rounding. © 2022 Pinterest. All rights reserved. 1: Other expense is comprised of non-cash charitable contributions. Other expense $0.0 0.0 0.0 20.5¹ 20.5 Non-GAAP $132.1 115.3 118.4 42.2 $407.9 11#12Net income (loss) Depreciation and amortization Adjusted EBITDA reconciliation Reconciliation of net income (loss) to adjusted EBITDA (in millions) Share-based compensation Interest income Interest and other expense (income), net Provision for (benefit from) income taxes Non-cash charitable contributions Adjusted EBITDA March 31, 2021 $(21.7) 6.8 79.5 (1.5) 1.6 (1.3) 20.5 $83.8 Three months ended June 30, 2021 $69.4 6.8 100.3 (1.1) (0.3) 3.2 0.0 $178.2 September 30, 2021 $94.0 6.8 96.3 (0.8) 4.8 0.5 0.0 $201.5 December 31, 2021 $174.7 7.2 139.4 (0.8) 3.4 2.1 24.8 $350.9 Note: Adjusted EBITDA is a non-GAAP financial measure. We define adjusted EBITDA as net income (loss) adjusted to exclude depreciation and amortization expense, share-based compensation expense, interest and other (income) expense, net and provision for (benefit from) income taxes, and non-cash charitable contributions. Note: Totals may not sum due to rounding. © 2022 Pinterest. All rights reserved. March 31, 2022 $(5.3) 7.2 73.2 (1.1) 1.6 1.1 0.0 76.8 12#13@ Ⓒ2022 Pinterest. All rights reserved.